Skip to content

Vlaamse Bagger Maatschappij

Active
Public limited companyfounded 1993active for 32 yearsTragel 60, 9308 Aalst, Belgium106 active companies are registered at this addressKBO/BCE: BE 0451.192.431
Summary

Vlaamse Bagger Maatschappij has been active since 1993 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €79.9m and a net result of -€29.5m. Equity is growing by about 4.1% per year across the filed financial years. Its solvency ranks better than 67% of 377 sector peers (NACE 42, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Risk analysisFollow ReportCompare
Vlaamse Bagger MaatschappijActiveChecked score 84/100
Risk analysis ReportCompare

Overview

Activity
Civil engineering
NACE 42919
2nd largest company by equity in Aalst, Construction sector1 site
Size
€94.7mturnover 2025
Equity
€79.9m
Loss
-€29.5m
Financial health
84 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.3%
Structure
Parent
SOFIDRA S.A. (JAN DE NUL GROUP)
Board
4 members
Holdings
3
  • Jan De NulChair · permanent representative J.P.J.De Nul
Auditor: BDO Bedrijfsrevisoren bv2025 accounts 16 days early7 of 36 deeds summarised
Why 84raises riskLoss of €29.5m (financial year 2025)Liquidity: current ratio 1.46, cash €4.8mSector: Civil engineering (NACE 42)lowers riskSize: turnover €94.7m, total assets €150.0mShow the evidence

Checked score

Score 2025
84 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 38% of its sector peers (NACE 42, large)
Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Weak
Solvency 78-7
equity 53.3% of total assets
Liquidity 36+1
short-term debt 39.1% · cash 3.2%
Profitability 0-89
return on assets -19.7%
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (34 companies, NACE 42, large)
Last 24 months 11-2024: 0.1% 12-2024: 0.1%● unchanged vs 11-2024 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.2%▲ +0.1 percentage points vs 06-2025 08-2025: 0.1%▼ -0.1 percentage points vs 07-2025lowest value 09-2025: 0.1%● unchanged vs 08-2025lowest value 10-2025: 0.1%● unchanged vs 09-2025lowest value 11-2025: 0.1%● unchanged vs 10-2025lowest value 12-2025: 0.1%● unchanged vs 11-2025lowest value 01-2026: 0.1%● unchanged vs 12-2025lowest value 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026 08-2026: 0.3%▲ +0.2 percentage points vs 07-2026highest value 09-2026: 0.3%● unchanged vs 08-2026highest value 10-2026: 0.3%● unchanged vs 09-2026highest value
Credit of up to €6,700,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.46, compared with 1.7 in 2024, below the usual 1.5; short-term debt: 39.1% and cash: 3.2% of total assets), and 46.7% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 42, large): better than 91% on solvency, 53% on liquidity, 4% on profitability and 5% on growth.

The bankruptcy probability was computed on 26-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

Credit check for your own amount and term

Show the recommended maximum and see how the verdict changes with amount, term and advance.

Signals

Five signals.
lowers riskraises riskneutral
raises risk · Loss of €29.5m (financial year 2025)
NBB · annual accounts
lowers risk · Size: turnover €94.7m, total assets €150.0m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · Liquidity: current ratio 1.46, cash €4.8m
NBB · annual accounts
raises risk · Sector: Civil engineering (NACE 42)
KBO
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
16 days early
2024
20 days early
2023
21 days early
2022
32 days early
2021
30 days early
2020
24 days early
2019
25 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 24 days before the deadline; the sector median (NACE 42) for financial year 2024 is 2 days before the deadline, and 41% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 11 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
27-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Reappointments: Jan De Nul NV, JDN…Permanent representatives: J.P.J.De Nul, Julie…
  2. Annual accounts filedfinancial year 2025 · full…
  3. Resignation: Julie De Nul (director)Appointment: JDN (director) · Permanent…

Key points

  • Caution: From profit to loss in 2025after €21.0m in 2024 -€29.5m View
  • Caution: Among the weakest 5% on net resultsector median €228,968 · 377 companies -€29.5m View
  • Board changedlatest change 02-03-2026 · 4 in office 1 joined · 2 left View
  • Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
  • Controlled by SOFIDRA S.A. (JAN DE… parent View

By topic

Financials

Financial year
2025
Turnover
€94.7m
Loss
-€29.5m
Solvency
53.3%
Turnover▼ 28.2%
Net result
20182025
Go to Financials

Board & ownership

Board
4 members
Parent
SOFIDRA S.A. (JAN DE…
Auditor
BDO Bedrijfsrevisoren bv
  • Jan De NulChair
  • JKN ConsultDirector
  • JDNManaging director
  • Paul LievensDirector
Go to Board & ownership

Timeline

Events
43
Since
1995
Next accounts
by 31-07-2027
  1. 31-12-2025Weakest financial year
  2. 26-11-2025Resignation: DDN BV (director)
  3. 22-07-2025Reappointment: BDO Bedrijfsrevisoren BV (statutory auditor)
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Civil engineeringNACE 42919
Founded
29-10-1993
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Key facts about Vlaamse Bagger Maatschappij

What is the company number of Vlaamse Bagger Maatschappij?
0451.192.431. In Belgium the VAT number is the company number with BE in front: BE 0451.192.431.
Where is Vlaamse Bagger Maatschappij based?
The registered office is at Tragel 60, 9308 Aalst.Company details
What does Vlaamse Bagger Maatschappij do?
According to the KBO register, the main activity is civil engineering (NACE 42919).
What is the legal form of Vlaamse Bagger Maatschappij?
Public limited company (NV).
When was Vlaamse Bagger Maatschappij founded?
On 29-10-1993.
Is Vlaamse Bagger Maatschappij still active?
Yes, Vlaamse Bagger Maatschappij is an active enterprise in the KBO register.
How many employees does Vlaamse Bagger Maatschappij have?
On average 0.7 full-time equivalents in financial year 2023, according to the filed annual accounts.Financials
What is the turnover of Vlaamse Bagger Maatschappij?
€94.7m in financial year 2025, according to the filed annual accounts.
Is Vlaamse Bagger Maatschappij profitable?
In financial year 2025, Vlaamse Bagger Maatschappij made a loss of €29.5m.
Where can I find the annual accounts of Vlaamse Bagger Maatschappij?
Vlaamse Bagger Maatschappij filed 32 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of Vlaamse Bagger Maatschappij due?
By 31-07-2027, for financial year 2026.Timeline

Companies related to Vlaamse Bagger Maatschappij

Go further with this company

How much credit can you give this customer, and on what payment terms?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark

Your own company? See how customers, suppliers and banks see it and what to improve first.

Investigating this company? Keep it with today's facts in a case file.

We would like to set cookies. That happens only with your consent. What we measure