ACTIVE

Substantia Development

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Financial year 2025 · closed on 30/09/2025
Net result
-53,7 k €
+12.9% YoY
Gross margin
16,9 k €
+988.8% YoY
Equity
-81,8 k €
-191.5% YoY
Workforce
0,0 ETP

What does Substantia Development do?

Substantia Development is a Private limited company incorporated in 2011. Its main activity is: Development of building projects. Its registered office is in Antwerpen.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0841.829.544
Incorporation
02/12/2011
Legal form
Private limited company
Registered office
Plantinkaai 1 box 105
2000 Antwerpen · FlandreSee on map
Contributed capital
18 600,00 €
Latest accounts
30/09/2025
Average workforce
0,0 ETP
Activities (NACE)
41101Development of building projects· main68121Buying and selling of own real estate71209Technical testing and analysis71209Technical testing and analysis81100Combined facilities support activities81100Combined facilities support activities+4
Signals
Positive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 7 financial years

2025202420232022202120142013
Income statement
Gross margin16,9 k €-1,9 k €4,0 k €-2,5 k €-3,1 k €-28,8 k €-19,9 k €
EBITDA16,1 k €-2,4 k €3,5 k €-3,3 k €-3,5 k €-29,4 k €-21,0 k €
Operating result16,1 k €-2,4 k €3,5 k €-3,3 k €-3,5 k €-29,4 k €-21,0 k €
Net result-53,7 k €-61,7 k €-43,4 k €-8,8 k €-8,9 k €-33,3 k €-21,5 k €
Balance sheet
Equity-81,8 k €-28,1 k €33,6 k €77,0 k €85,8 k €-36,2 k €-2,9 k €
Total assets795,4 k €785,1 k €775,2 k €194,7 k €228,1 k €130,2 k €7,8 k €
Cash29,0 k €2,1 k €2,7 k €5,4 k €23,5 k €47,5 k €7,2 k €
Debts876,8 k €770,5 k €706,8 k €117,4 k €142,0 k €165,2 k €10,2 k €
Other
Workforce0,0 ETP––––––
Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€
See the valuation
Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 9 ended

Active mandates

ESV Ventures

Director · since 01 juillet 2014 · 0878.978.663

Represented by Edward Verté

Active
VHB PROJECTS

Director · since 01 juillet 2014 · 0811.187.343

Represented by Tom Van Hamme

Active

Ended mandates

ESV Ventures

Bestuurder · since 01 juillet 2014 · 0878.978.663

Represented by Edward Verté

Ended
VHB PROJECTS

Bestuurder · since 01 juillet 2014 · 0811.187.343

Represented by Tom Van Hamme

Ended
VHB PROJECTS

Manager · since 01 juillet 2014 · 0811.187.343

Represented by Tom Van Hamme

Ended
VHB Projects BV

Bestuurder · since 01 juillet 2014

Represented by Tom Van Hamme

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/10/202401/10/202301/10/202201/10/202101/10/202001/10/2019
Closing of the financial year30/09/202530/09/202430/09/202330/09/202230/09/202130/09/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date29/04/202629/04/202526/04/202428/04/202322/04/202229/04/2021
General meeting31/03/202631/03/202529/03/202431/03/202324/03/202231/03/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

13 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model30/09/202531/03/202629/04/2026DutchPDF
Abridged model30/09/202431/03/202529/04/2025DutchPDF
Abridged model30/09/202329/03/202426/04/2024DutchPDF
Abridged model30/09/202231/03/202328/04/2023DutchPDF
Abridged model30/09/202124/03/202222/04/2022DutchPDF
Abridged model30/09/202031/03/202129/04/2021DutchPDF
Abridged model30/09/201931/03/202029/04/2020DutchPDF
Abridged model30/09/201829/03/201929/04/2019DutchPDF
Abridged model30/09/201730/03/201830/04/2018DutchPDF
Abridged model30/09/201631/03/201702/05/2017DutchPDF
Abridged model30/09/201531/03/201631/03/2016DutchPDF
Abridged model30/09/201431/03/201502/04/2015DutchPDF
Abridged model30/09/201331/03/201430/04/2014DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 9 ended

Active mandates

ESV Ventures

Director · since 01 juillet 2014 · 0878.978.663

Represented by Edward Verté

Active
VHB PROJECTS

Director · since 01 juillet 2014 · 0811.187.343

Represented by Tom Van Hamme

Active

Ended mandates

ESV Ventures

Bestuurder · since 01 juillet 2014 · 0878.978.663

Represented by Edward Verté

Ended
VHB PROJECTS

Bestuurder · since 01 juillet 2014 · 0811.187.343

Represented by Tom Van Hamme

Ended
VHB PROJECTS

Manager · since 01 juillet 2014 · 0811.187.343

Represented by Tom Van Hamme

Ended
VHB Projects BV

Bestuurder · since 01 juillet 2014

Represented by Tom Van Hamme

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates23/01/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM - BENAMING - MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates10/07/2014
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other28/12/2011
    RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
    PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025-53,7 k €↑
  2. 2024
    Annual accounts 2024-61,7 k €↓
  3. 2023
    Annual accounts 2023-43,4 k €↓
  4. 2023
    Name changeSubstantia Development
  5. 2022
    Annual accounts 2022-8,8 k €↑
  6. 2021
    Annual accounts 2021-8,9 k €↑
  7. 2021
    Name changeSubstantia
  8. 2014
    Annual accounts 2014-33,3 k €↓
  9. 2013
    Annual accounts 2013-21,5 k €
  10. 02/12/2011
    IncorporationPrivate limited company