ACTIVE

V.S.M.

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Financial year 2025 · Closed on 31/12/2025

Net result
554,6 k €
-38,0 %over 1 year
Gross margin
3,1 M €
-10,2 %over 1 year
Equity
3,2 M €
+10,0 %over 1 year
Workforce
29,2 ETP
+5,4 %over 1 year

Identity

Source · BCE/KBO

V.S.M. is a Private limited company incorporated in 2007. Its registered office is in Bruxelles. It employs on average 29,2 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0886.569.904
Incorporation
19/01/2007
Legal form
Private limited company
Registered office
Place du Grand Sablon 38
1000 Bruxelles · BruxellesSee on map
Contributed capital
12 290,75 €
Latest accounts
31/12/2025
Average workforce
29,2 ETP
Joint committees (1)
  • 302
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 20 filings

Trend over 19 financial years

20252024202320222021
Income statement
Gross margin3,1 M €3,5 M €4,3 M €5,3 M €3,1 M €
EBITDA894,4 k €1,4 M €1,4 M €1,9 M €951 k €
Operating result746,1 k €1,2 M €1,2 M €1,6 M €603,3 k €
Net result554,6 k €895 k €882,1 k €1,2 M €479,8 k €
Balance sheet
Equity3,2 M €2,9 M €2,2 M €2,8 M €1,8 M €
Total assets7,5 M €7,1 M €6,9 M €8,6 M €6,9 M €
Cash655,1 k €822,6 k €648,9 k €1,6 M €1,9 M €
Debts4,3 M €4,2 M €4,6 M €5,2 M €5,1 M €
Other
Workforce29,2 ETP27,7 ETP26,4 ETP49,3 ETP46,3 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

1 active · 8 ended

Active mandates

Albert NIELS

Director · since 28 novembre 2023

Active

Ended mandates

Albert Jean NIELS

Director

Ended
Albert-Jean NIELS

Director

Ended
Albert-Jean NIELS

Manager

Ended
Frédéric NIELS

Director · until 01 octobre 2021

Ended

Other companies at this address

Place du Grand Sablon 38 1000 Bruxelles
CompanyCBE no.
ALF INVEST● Active
0402.867.130
FONDS CULTUREL HELLENIQUE● Active
0457.775.860
LUBA Investment● Active
0534.998.649

Full financial information

Source · NBB
202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date13/07/202627/08/202524/08/202430/08/202331/08/202227/08/2021
General meeting30/06/202630/06/202530/06/202416/05/202317/05/202218/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings
ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202530/06/202613/07/2026FrenchPDF
Abridged model31/12/202430/06/202527/08/2025FrenchPDF
Abridged model31/12/202330/06/202424/08/2024FrenchPDF
Abridged model31/12/202216/05/202330/08/2023FrenchPDF
Abridged model31/12/202117/05/202231/08/2022FrenchPDF
Abridged model31/12/202018/05/202127/08/2021FrenchPDF
Abridged model31/12/201919/05/202031/08/2020FrenchPDF
Abridged model31/12/201821/05/201912/08/2019FrenchPDF
Abridged model31/12/201715/05/201811/06/2018FrenchPDF
Abridged model31/12/201616/05/201719/07/2017FrenchPDF
Abridged model31/12/201517/05/201604/07/2016FrenchPDF
Abridged model31/12/201415/05/201510/08/2015FrenchPDF
Abridged model31/12/201314/05/201404/06/2014FrenchPDF
Abridged model31/12/201215/05/201331/05/2013FrenchPDF
Abridged modelCorrection31/12/201115/05/201218/06/2012FrenchPDF
Abridged model31/12/201115/05/201208/06/2012FrenchPDF
Abridged model31/12/201017/05/201122/06/2011FrenchPDF
Abridged model31/12/200918/05/201022/07/2010FrenchPDF
Abridged model31/12/200819/05/200918/08/2009FrenchPDF
Abridged model31/12/200720/05/200808/08/2008FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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.

Board of directors

Source · NBB, accounts to 31/12/2025

1 active · 8 ended

Active mandates

Albert NIELS

Director · since 28 novembre 2023

Active

Ended mandates

Albert Jean NIELS

Director

Ended
Albert-Jean NIELS

Director

Ended
Albert-Jean NIELS

Manager

Ended
Frédéric NIELS

Director · until 01 octobre 2021

Ended

Ownership and network

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Try for 7 days

Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Restructuring16/01/2024
    CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Mandates01/12/2023
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - MODIFICATION FORME JURIDIQUE - OBJET - DEMISSIONS, NOMINATIONS
    PDF
  • Restructuring22/11/2023
    RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Mandates06/01/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates04/10/2016
    DEMISSIONS, NOMINATIONS
    PDF
  • Other25/06/2013
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates14/02/2011
    SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates30/11/2010
    DEMISSIONS, NOMINATIONS
    PDF

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 2025554,6 k €↓
  2. 2024
    Annual accounts 2024895 k €↑
  3. 2023
    Annual accounts 2023882,1 k €↓
  4. 2022
    Annual accounts 20221,2 M €↑
  5. 2021
    Annual accounts 2021479,8 k €↑
  6. 2020
    Annual accounts 2020140,9 k €↓
  7. 2019
    Annual accounts 2019308,8 k €↓
  8. 2018
    Annual accounts 2018462,5 k €↑
  9. 2017
    Annual accounts 2017269,8 k €↑
  10. 2016
    Annual accounts 201686,9 k €↑
  11. 2015
    Annual accounts 201564,1 k €↓
  12. 2014
    Annual accounts 2014228,8 k €↑
  13. 2013
    Annual accounts 201327,5 k €↓
  14. 2012
    Annual accounts 201259,7 k €↑
  15. 2011
    Annual accounts 201154,8 k €↑
  16. 2010
    Annual accounts 201015,1 k €↑
  17. 2009
    Annual accounts 20094,2 k €↓
  18. 2008
    Annual accounts 200831,8 k €↓
  19. 2007
    Annual accounts 200737 k €
  20. 19/01/2007
    IncorporationPrivate limited company