ACTIVE

Vaes

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Financial year 2025 · closed on 31/12/2025

Net result

587,2 k €

-46.9% YoY

Revenue

26,7 M €

+35.0% YoY

Equity

5 M €

+4.4% YoY

Workforce

12,0 ETP

+11.1% YoY

What does Vaes do?

Vaes is a Private limited company incorporated in 2012. Its main activity is: Wholesale of meat and meat products. Its registered office is in Zonhoven. It employs on average 12,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0846.853.451

Incorporation

26/06/2012

Legal form

Private limited company

Registered office

Waardstraat 93
3520 Zonhoven · FlandreSee on map

Contributed capital

456 675,93 €

Latest accounts

31/12/2025

Average workforce

12,0 ETP

Activities (NACE)

46321Wholesale of meat and meat products· main 46321Wholesale of meat and meat products 01500Mixed farming 01500Mixed farming

Joint committees (3)

119
1190
2010

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012
Income statement
Revenue	26,7 M €	+35.0%	19,8 M €		–		–		–		–		–		–		–		–		–		–		–		9,4 M €
EBITDA	962,1 k €	-38.4%	1,6 M €	+125%	695,3 k €	+22.0%	569,9 k €	+51.8%	375,4 k €	+31.6%	285,3 k €	-34.8%	437,4 k €	+94.7%	224,7 k €	-4.1%	234,3 k €	+54.6%	151,5 k €	+40.4%	108 k €	+56.9%	68,8 k €	+73.7%	39,6 k €	-51.1%	81 k €
Operating result	792,9 k €	-46.6%	1,5 M €	+124%	661,9 k €	+29.7%	510,2 k €	+57.2%	324,6 k €	+34.4%	241,5 k €	-34.1%	366,5 k €	+129%	160,2 k €	-6.7%	171,6 k €	+153%	67,8 k €	+48.9%	45,5 k €	+173%	16,7 k €	+252%	-11 k €	-152%	21,3 k €
Net result	587,2 k €	-46.9%	1,1 M €	+163%	420,9 k €	+19.7%	351,6 k €	+42.9%	246 k €	+23.6%	199 k €	-23.9%	261,6 k €	+112%	123,5 k €	+14.3%	108,1 k €	+132%	46,6 k €	+17.6%	39,6 k €	+52.2%	26 k €	+66.5%	15,6 k €	-36.3%	24,5 k €
Balance sheet
Equity	5 M €	+4.4%	4,8 M €	+124%	2,2 M €	+24.3%	1,7 M €	+18.8%	1,5 M €	+19.4%	1,2 M €	+12.8%	1,1 M €	+31.9%	821 k €	+17.7%	697,5 k €	+18.3%	589,4 k €	+8.6%	542,8 k €	+7.7%	504,2 k €	+5.4%	478,2 k €	+3.4%	462,6 k €
Total assets	7,9 M €	+20.7%	6,5 M €	+17.2%	5,6 M €	+16.8%	4,8 M €	+50.1%	3,2 M €	+3.6%	3,1 M €	+9.0%	2,8 M €	+6.6%	2,6 M €	+16.5%	2,3 M €	-2.3%	2,3 M €	+12.4%	2,1 M €	-5.9%	2,2 M €	+3.1%	2,1 M €	+15.1%	1,8 M €
Cash	2,1 M €	+6.7%	2 M €	+4.9%	1,9 M €	+79.7%	1 M €	+1042%	91,1 k €	+106%	44,3 k €	-75.9%	184 k €	+680%	23,6 k €	-66.5%	70,5 k €	-9.8%	78,2 k €	+77.6%	44 k €	-20.3%	55,3 k €	+122%	24,9 k €	-57.3%	58,2 k €
Debts	2,8 M €	+67.0%	1,7 M €	-50.2%	3,4 M €	+12.5%	3 M €	+76.5%	1,7 M €	-6.8%	1,8 M €	+6.6%	1,7 M €	-4.7%	1,8 M €	+16.5%	1,6 M €	-7.5%	1,7 M €	+11.0%	1,5 M €	-10.0%	1,7 M €	+2.4%	1,6 M €	+19.0%	1,4 M €
Other
Workforce	12,0 ETP	+11.1%	10,8 ETP	0.0%	10,8 ETP	-0.9%	10,9 ETP	+166%	4,1 ETP	+20.6%	3,4 ETP	0.0%	3,4 ETP	+30.8%	2,6 ETP	+13.0%	2,3 ETP	+15.0%	2,0 ETP	-33.3%	3,0 ETP	0.0%	3,0 ETP	+25.0%	2,4 ETP	-20.0%	3,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 6 ended

Active mandates

Katleen Vaes

Director · since 25 juin 2012

Active

Kristof Vaes

Director · since 25 juin 2012

Active

Ended mandates

Kristof Vaes

Director · since 25 juin 2021

Ended

Katleen Vaes

Manager · since 25 juin 2012

Ended

Kristof Vaes

Manager · since 25 juin 2012

Ended

Kathleen Vaes

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/08/2026	12/08/2025	12/04/2024	31/08/2023	17/08/2022	28/10/2021
General meeting	26/06/2026	27/06/2025	31/03/2024	30/06/2023	24/06/2022	25/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

15 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/06/2026	31/08/2026	Dutch	PDF
Full model	31/12/2024	27/06/2025	12/08/2025	Dutch	PDF
Abridged model	31/12/2023	31/03/2024	12/04/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	31/08/2023	Dutch	PDF
Abridged model	31/12/2021	24/06/2022	17/08/2022	Dutch	PDF
Abridged modelCorrection	31/12/2020	25/06/2021	28/10/2021	Dutch	PDF
Abridged model	31/12/2020	25/06/2021	31/08/2021	Dutch	PDF
Abridged model	31/12/2019	30/09/2020	13/11/2020	Dutch	PDF
Abridged model	31/12/2018	28/06/2019	30/09/2019	Dutch	PDF
Abridged model	31/12/2017	29/06/2018	24/08/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	30/08/2017	Dutch	PDF
Abridged model	31/12/2015	24/06/2016	05/07/2016	Dutch	PDF
Abridged model	31/12/2014	26/06/2015	28/08/2015	Dutch	PDF
Abridged model	31/12/2013	27/06/2014	27/08/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	28/10/2013	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 M€

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 31/12/2025 · 2 active · 6 ended

Active mandates

Katleen Vaes

Director · since 25 juin 2012

Active

Kristof Vaes

Director · since 25 juin 2012

Active

Ended mandates

Kristof Vaes

Director · since 25 juin 2021

Ended

Katleen Vaes

Manager · since 25 juin 2012

Ended

Kristof Vaes

Manager · since 25 juin 2012

Ended

Kathleen Vaes

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring21/11/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring04/07/2024
WIJZIGING RECHTSVORM - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Other24/09/2012
DIVERSEN
PDF
Other28/06/2012
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

2025
Annual accounts 2025587,2 k €↓
2024
Annual accounts 20241,1 M €↑
2023
Annual accounts 2023420,9 k €↑
2022
Annual accounts 2022351,6 k €↑
2021
Annual accounts 2021246 k €↑
2020
Annual accounts 2020199 k €↓
2019
Annual accounts 2019261,6 k €↑
2018
Annual accounts 2018123,5 k €↑
2017
Annual accounts 2017108,1 k €↑
2016
Annual accounts 201646,6 k €↑
2015
Annual accounts 201539,6 k €↑
2014
Annual accounts 201426 k €↑
2013
Annual accounts 201315,6 k €↓
2012
Annual accounts 201224,5 k €
26/06/2012
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Vaes

Overview

What does Vaes do?

Trend over 14 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline