ACTIVE

VGP

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Financial year 2025 · closed on 31/12/2025

Net result

245,1 M €

-8.8% YoY

Revenue

22,4 M €

Equity

1,8 Md €

+9.3% YoY

Workforce

9,9 ETP

-7.5% YoY

What does VGP do?

VGP is a Public limited company incorporated in 2007. Its main activity is: Activities of holding companies. Its registered office is in Antwerpen. It employs on average 9,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0887.216.042

Incorporation

13/02/2007

Legal form

Public limited company

Registered office

Generaal Lemanstraat 55 box 4
2018 Antwerpen · FlandreSee on map

Contributed capital

895 600 356,00 €

Latest accounts

31/12/2025

Average workforce

9,9 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 74151Specialised design activities 74151Specialised design activities

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	22,4 M €		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	-4,5 M €	+56.1%	-10,2 M €	-151%	-4,1 M €	-210%	3,7 M €	+121%	-17,9 M €	-88.8%	-9,5 M €	-4308%	225,1 k €	-94.0%	3,7 M €	+153%	-7 M €	+49.0%	-13,8 M €	-596%	-2 M €	-2.2%	-1,9 M €	-122%	-874,7 k €	+26.9%	-1,2 M €	+31.3%	-1,7 M €	-6850%	-25,1 k €	-336%	10,6 k €	-85.7%	74,2 k €	+1065%	-7,7 k €
Operating result	-6,8 M €	+46.7%	-12,8 M €	-92.1%	-6,7 M €	-452%	1,9 M €	+110%	-18,6 M €	-89.0%	-9,8 M €	-5813%	171,9 k €	-95.4%	3,7 M €	+153%	-7 M €	+49.0%	-13,8 M €	-595%	-2 M €	-2.2%	-1,9 M €	-121%	-879,2 k €	+26.5%	-1,2 M €	+31.5%	-1,7 M €	-5755%	-29,8 k €	-75784%	-39,3 €	-100%	74,2 k €	+649%	-13,5 k €
Net result	245,1 M €	-8.8%	268,6 M €	-2.2%	274,8 M €	+89.0%	145,4 M €	+560%	22 M €	-92.2%	282,6 M €	+151%	112,8 M €	+34.1%	84,1 M €	+176%	30,5 M €	-74.1%	117,9 M €	+12207%	957,8 k €	-89.4%	9 M €	+380%	1,9 M €	-69.6%	6,2 M €	-35.5%	9,6 M €	+81.3%	5,3 M €	-33.4%	7,9 M €	+21098%	37,5 k €	+130%	-123,1 k €
Balance sheet
Equity	1,8 Md €	+9.3%	1,6 Md €	+12.2%	1,5 Md €	+13.5%	1,3 Md €	+40.7%	916,9 M €	+23.2%	744,4 M €	+121%	337 M €	+18.4%	284,5 M €	+17.9%	241,3 M €	-9.3%	266,2 M €	+79.5%	148,3 M €	+0.7%	147,3 M €	+6.5%	138,3 M €	-4.0%	144,1 M €	-5.8%	152,9 M €	-16.6%	183,3 M €	+3.0%	178 M €	+1.6%	175,3 M €	+0.0%	175,2 M €
Total assets	4,2 Md €	+12.7%	3,7 Md €	+2.7%	3,6 Md €	-4.8%	3,8 Md €	+52.8%	2,5 Md €	+52.8%	1,6 Md €	+34.9%	1,2 Md €	+27.7%	937,5 M €	+19.9%	781,7 M €	+18.6%	659,1 M €	+80.4%	365,3 M €	+21.7%	300,3 M €	+0.6%	298,5 M €	+101%	148,6 M €	-3.5%	154 M €	-39.7%	255,5 M €	-4.2%	266,7 M €	+7.4%	248,3 M €	+25.0%	198,6 M €
Cash	377,2 M €	+762%	43,8 M €	-10.1%	48,7 M €	-89.0%	441,1 M €	+563%	66,5 M €	-34.4%	101,5 M €	-34.3%	154,4 M €	+21.5%	127 M €	+571%	18,9 M €	-62.9%	51 M €	+539%	8 M €	-78.0%	36,3 M €	-50.8%	73,8 M €	+359%	16,1 M €	+10.5%	14,5 M €	+618%	2 M €	+175%	737,6 k €	-58.6%	1,8 M €	+834%	190,9 k €
Debts	2,3 Md €	+15.0%	2 Md €	-4.0%	2,1 Md €	-14.3%	2,4 Md €	+60.0%	1,5 Md €	+79.2%	851 M €	+0.7%	845,1 M €	+31.0%	645,2 M €	+20.8%	534,2 M €	+37.6%	388,2 M €	+81.6%	213,8 M €	+41.7%	150,9 M €	-4.5%	158 M €	+3453%	4,4 M €	+334%	1 M €	-98.6%	72,2 M €	-18.5%	88,6 M €	+22.1%	72,6 M €	+216%	23 M €
Other
Workforce	9,9 ETP	-7.5%	10,7 ETP	+4.9%	10,2 ETP	+29.1%	7,9 ETP	+29.5%	6,1 ETP	+8.9%	5,6 ETP	+43.6%	3,9 ETP	+117%	1,8 ETP	+157%	0,7 ETP		–		–		–		–		–		–		0,3 ETP	-70.0%	1,0 ETP	0.0%	1,0 ETP	+900%	0,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

more than 1.000 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 38 ended

Active mandates

CM Advisers Ltd

Director · since 09 mai 2025 · until 11 mai 2029

Represented by Chris Morrish

Active

Jan Van Geet SRO

Managing director · since 09 mai 2025 · until 11 mai 2029

Represented by Jan Van Geet

Active

VM INVEST

Chairman of the board of directors · since 09 mai 2025 · until 11 mai 2029 · 0418.701.587

Represented by Bartje Van Malderen

Active

GAEVAN

Director · since 12 mai 2023 · until 14 mai 2027 · 0743.487.380

Represented by Ann Gaeremynck

Active

Vera Gäde-Butzlaff

Director · since 12 mai 2023 · until 14 mai 2027

Active

Ended mandates

Katherina Reiche

Director · since 12 mai 2023 · until 14 mai 2027

Ended

Jan Van Geet SRO

Managing director · since 14 mai 2021 · until 09 mai 2025

Represented by Jan Van Geet

Ended

VM INVEST

Chairman of the board of directors · since 14 mai 2021 · until 09 mai 2025 · 0418.701.587

Represented by Bartje Van Malderen

Ended

GAEVAN

Director · since 08 mai 2020 · until 12 mai 2023 · 0743.487.380

Represented by Ann Gaeremynck

Ended

At this address

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DEUTSCHE LEASING BENELUX● Active	0811.380.353
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Maroussia● Active	0726.415.182
ODYSSEY LOGISTICS EUROPE● Active	0894.394.933
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VGP Belgium● Active	0894.442.740
VGP FOUNDATION● Active	0735.540.607
VGP Renewable Energy● Active	0894.188.263
Whoohoo Belgium Flex● Active	0810.748.566

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	m120-f-p
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	03/06/2026	05/06/2025	03/06/2024	02/06/2023	03/06/2022	09/06/2021
General meeting	08/05/2026	09/05/2025	10/05/2024	12/05/2023	13/05/2022	14/05/2021
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

38 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	08/05/2026	03/06/2026	Dutch	PDF
m120-f-p	31/12/2025	08/05/2026	03/06/2026	Dutch	PDF
Full model	31/12/2024	09/05/2025	05/06/2025	Dutch	PDF
m120-f-p	31/12/2024	09/05/2025	05/06/2025	Dutch	PDF
Full model	31/12/2023	10/05/2024	03/06/2024	Dutch	PDF
m120-f-p	31/12/2023	10/05/2024	03/06/2024	Dutch	PDF
Full model	31/12/2022	12/05/2023	02/06/2023	Dutch	PDF
m120-f-p	31/12/2022	12/05/2023	06/06/2023	Dutch	PDF
Full model	31/12/2021	13/05/2022	03/06/2022	Dutch	PDF
m120-f-p	31/12/2021	13/05/2022	07/06/2022	Dutch	PDF
Full model	31/12/2020	14/05/2021	04/06/2021	Dutch	PDF
m120-f-p	31/12/2020	14/05/2021	09/06/2021	Dutch	PDF
Full model	31/12/2019	08/05/2020	04/06/2020	Dutch	PDF
m120-f-p	31/12/2019	08/05/2020	04/06/2020	Dutch	PDF
Full model	31/12/2018	10/05/2019	27/05/2019	Dutch	PDF
m120-f-p	31/12/2018	10/05/2019	27/05/2019	Dutch	PDF
Full model	31/12/2017	11/05/2018	17/05/2018	Dutch	PDF
m120-f-p	31/12/2017	11/05/2018	30/05/2018	Dutch	PDF
Full model	31/12/2016	12/05/2017	06/06/2017	Dutch	PDF
m120-f-p	31/12/2016	12/05/2017	06/06/2017	Dutch	PDF
Full model	31/12/2015	13/05/2016	07/06/2016	Dutch	PDF
m120-f-p	31/12/2015	13/05/2016	07/06/2016	Dutch	PDF
Full model	31/12/2014	08/05/2015	01/06/2015	Dutch	PDF
m120-f-p	31/12/2014	08/05/2015	08/06/2015	Dutch	PDF

View all 38 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

more than 1.000 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 · 5 active · 38 ended

Active mandates

CM Advisers Ltd

Director · since 09 mai 2025 · until 11 mai 2029

Represented by Chris Morrish

Active

Jan Van Geet SRO

Managing director · since 09 mai 2025 · until 11 mai 2029

Represented by Jan Van Geet

Active

VM INVEST

Chairman of the board of directors · since 09 mai 2025 · until 11 mai 2029 · 0418.701.587

Represented by Bartje Van Malderen

Active

GAEVAN

Director · since 12 mai 2023 · until 14 mai 2027 · 0743.487.380

Represented by Ann Gaeremynck

Active

Vera Gäde-Butzlaff

Director · since 12 mai 2023 · until 14 mai 2027

Active

Ended mandates

Katherina Reiche

Director · since 12 mai 2023 · until 14 mai 2027

Ended

Jan Van Geet SRO

Managing director · since 14 mai 2021 · until 09 mai 2025

Represented by Jan Van Geet

Ended

VM INVEST

Chairman of the board of directors · since 14 mai 2021 · until 09 mai 2025 · 0418.701.587

Represented by Bartje Van Malderen

Ended

GAEVAN

Director · since 08 mai 2020 · until 12 mai 2023 · 0743.487.380

Represented by Ann Gaeremynck

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Capital / shares18/05/2026
KAPITAAL - AANDELEN
PDF
Other13/05/2026
DIVERSEN
PDF
Mandates27/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other03/07/2024
DIVERSEN
PDF
Mandates26/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares02/12/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Other23/05/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares02/12/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
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

12/05/2026
augmentation_capital
2025
Annual accounts 2025245,1 M €↓
09/05/2025
reconductionVM Invest NV — bestuurder
09/05/2025
reconductionJan Van Geet s.r.o. — bestuurder
09/05/2025
demissionKatherina Reiche — onafhankelijk bestuurder
09/05/2025
nominationCM Advisers Ltd — onafhankelijk bestuurder
09/05/2025
nominationKPMG Bedrijfsrevisoren BV/SRL / KPMG Réviseurs d'Entreprises BV/SRL — commissaris
2024
Annual accounts 2024268,6 M €↓
2023
Annual accounts 2023274,8 M €↑
12/05/2023
reconductionAEVAN BV — onafhankelijke bestuurder
12/05/2023
reconductionKatherina Reiche — onafhankelijke bestuurder
12/05/2023
reconductionVera Gäde-Butzlaff — onafhankelijke bestuurder
12/05/2023
reconductionDeloitte Bedrijfsrevisoren / Réviseurs d'Entreprises BV/SRL — commissaris
2022
Annual accounts 2022145,4 M €↑
2021
Annual accounts 202122 M €↓
2020
Annual accounts 2020282,6 M €↑
2019
Annual accounts 2019112,8 M €↑
2018
Annual accounts 201884,1 M €↑
2017
Annual accounts 201730,5 M €↓
2016
Annual accounts 2016117,9 M €↑
2015
Annual accounts 2015957,8 k €↓
2014
Annual accounts 20149 M €↑
2013
Annual accounts 20131,9 M €↓
2012
Annual accounts 20126,2 M €↓
2011
Annual accounts 20119,6 M €↑
2010
Annual accounts 20105,3 M €↓
2009
Annual accounts 20097,9 M €↑
2008
Annual accounts 200837,5 k €↑
2007
Annual accounts 2007-123,1 k €
13/02/2007
IncorporationPublic 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

VGP

Overview

What does VGP do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

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