VANCAST
Annual accounts 2025
full format, filed on 14-07-2026, 17 days before the deadlineThe turnover shown is an estimate from the gross margin.
Turnover ≈ €600,000. Estimated: probably between €470,000 and €1.1m.
Balance sheet
balance sheet total €3.9m on 31-12-2025in €m
in euro
Position in the sector
67.1%
Higher than 62% of 3,873 companies in 2025.
0.60
Higher than 27% of 3,727 companies in 2025.
4.5%
Higher than 58% of 3,849 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
3.9m | 4.2m | 3.8m | 3.5m | 3.6m | 3.5m | 3.5m | 3.6m | 3.5m | 3.4m | 3.4m | 3.3m | 3.1m | 3.1m | 3.1m | 3.1m | 3.1m | |
21/28 |
3.2m | 3.2m | 3.3m | 3.1m | 3.2m | 3.1m | 3.2m | 3.2m | 3.1m | 3.1m | 3.0m | 3.1m | 3.0m | 3.0m | 3.1m | 3.1m | 3.0m | |
22/27 |
138,915 | 205,614 | 272,313 | 91,037 | 153,376 | 107,145 | 159,139 | 149,270 | 69,407 | 87,856 | - | 31,342 | 8,091 | 17,330 | 27,340 | 35,364 | - | |
24 |
138,915 | 205,614 | 272,313 | 91,037 | 153,376 | 107,145 | 159,139 | 149,270 | 69,407 | 87,856 | - | 31,342 | 8,091 | 17,330 | 27,340 | 35,364 | - | |
28 |
3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | |
29/58 |
714,251 | 929,239 | 491,598 | 408,918 | 440,421 | 410,524 | 355,633 | 372,886 | 402,524 | 328,524 | 363,402 | 285,372 | 33,757 | 52,283 | 56,447 | 22,695 | 42,107 | |
40/41 |
38,002 | 6 | 66,237 | 48,244 | 42,637 | 44,805 | 115,301 | 123,740 | 28,473 | 37,811 | 207,032 | 155,734 | - | - | 4 | - | 22,314 | |
40 |
5,764 | 0 | 61,500 | - | - | - | 40,535 | 61,443 | - | - | 157,183 | 155,700 | - | - | - | - | 22,314 | |
41 |
32,238 | 6 | 4,737 | 48,244 | 42,637 | 44,805 | 74,766 | 62,297 | 28,473 | 37,811 | 49,849 | 34 | - | - | 4 | - | - | |
54/58 |
664,499 | 927,845 | 410,203 | 339,765 | 383,349 | 364,293 | 238,330 | 249,146 | 374,051 | 289,295 | 156,370 | 129,638 | 32,373 | 52,283 | 56,443 | 22,695 | 19,793 | |
490/1 |
11,750 | 1,387 | 15,158 | 20,909 | 14,435 | 1,426 | 2,002 | - | - | 1,418 | - | - | 1,384 | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
3.9m | 4.2m | 3.8m | 3.5m | 3.6m | 3.5m | 3.5m | 3.6m | 3.5m | 3.4m | 3.4m | 3.3m | 3.1m | 3.1m | 3.1m | 3.1m | 3.1m | |
10/15 |
2.6m | 2.4m | 2.1m | 1.9m | 2.0m | 2.0m | 2.0m | 2.0m | 1.9m | 1.9m | 1.8m | 1.8m | 1.7m | 1.8m | 3.0m | 3.0m | 3.0m | |
10/11 |
1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 3.0m | 3.0m | 3.0m | |
10 |
1.3m | 1.3m | 1.3m | 1.3m | 1.3m | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 1.3m | 3.0m | 3.0m | 3.0m | |
13 |
1.3m | 1.1m | 786,790 | 566,132 | 675,522 | 660,400 | 649,916 | 621,266 | 572,991 | 520,530 | 480,293 | 504,405 | 354,387 | 444,579 | 14,595 | 14,595 | 14,595 | |
130/1 |
56,118 | 47,418 | 42,854 | 31,821 | 31,821 | 31,821 | - | - | - | - | - | - | - | - | - | - | - | |
130 |
56,118 | 47,418 | 42,854 | 31,821 | 31,821 | 31,821 | 31,821 | 31,821 | 31,821 | 31,821 | 31,821 | 31,821 | 24,613 | 24,613 | 730 | 730 | 730 | |
132 |
- | - | - | - | - | - | - | - | 1,463 | 2,927 | 4,390 | 5,854 | - | - | - | - | - | |
133 |
1.2m | 1.1m | 743,936 | 534,311 | 643,701 | 628,579 | 618,095 | 589,445 | 539,707 | 485,782 | 444,082 | 466,730 | 329,774 | 419,966 | 13,865 | 13,865 | 13,865 | |
14 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | -30,377 | -47,626 | - | |
16 |
- | - | - | - | - | - | - | - | 754 | 1,508 | 2,262 | 3,016 | - | - | - | - | - | |
168 |
- | - | - | - | - | - | - | - | 754 | 1,508 | 2,262 | 3,016 | - | - | - | - | - | |
17/49 |
1.3m | 1.7m | 1.7m | 1.6m | 1.6m | 1.6m | 1.6m | 1.6m | 1.6m | 1.6m | 1.6m | 1.5m | 1.4m | 1.3m | 96,538 | 88,058 | 24,481 | |
42/48 |
1.2m | 1.6m | 1.7m | 1.6m | 1.6m | 1.6m | 1.6m | 1.6m | 1.6m | 1.6m | 1.6m | 1.5m | 1.4m | 1.3m | 96,538 | 88,058 | 24,481 | |
42 |
- | 16,912 | 17,112 | 16,839 | 16,816 | 16,667 | 16,667 | 16,667 | 16,667 | 16,667 | - | - | - | - | - | - | - | |
43 |
16,862 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
430/8 |
16,862 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
44 |
108,670 | 623 | 37,844 | 22,760 | 20,890 | 14,959 | 18,092 | 19,046 | 16,260 | 13,332 | 11,930 | 11,071 | 14,103 | 2,958 | - | 4,098 | 83 | |
440/4 |
108,670 | 623 | 37,844 | 22,760 | 20,890 | 14,959 | 18,092 | 19,046 | 16,260 | 13,332 | 11,930 | 11,071 | 14,103 | 2,958 | - | 4,098 | 83 | |
45 |
66,474 | 186,492 | 147,055 | 135,543 | 122,279 | 67,538 | 71,116 | 68,308 | 60,664 | 56,607 | 53,567 | 71,256 | 34,495 | 29,039 | 15,541 | 6,952 | 9,399 | |
450/3 |
51,573 | 156,491 | 147,030 | 105,542 | 99,375 | 67,538 | 65,366 | 68,308 | 60,664 | 56,607 | 53,564 | 71,256 | 34,495 | 29,039 | 15,541 | 6,952 | 9,399 | |
454/9 |
14,901 | 30,001 | 25 | 30,001 | 22,904 | - | 5,750 | - | - | - | 4 | - | - | - | - | - | - | |
47/48 |
1.0m | 1.4m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.4m | 1.3m | 1.3m | 80,997 | 77,008 | 15,000 | |
492/3 |
82,531 | 113,592 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Income statement | ||||||||||||||||||
76A |
- | 0 | 67,734 | - | 12,355 | - | 3,088 | - | - | - | - | - | - | - | - | - | - | |
9900 |
395,911 | 609,649 | 393,450 | 25,246 | 127,851 | 127,154 | 153,903 | 229,338 | 222,936 | 199,898 | 121,411 | 270,408 | -19,155 | -52,141 | 31,846 | -29,845 | 14,805 | |
630 |
66,699 | 66,699 | 42,077 | 62,339 | 45,281 | 51,994 | 52,867 | 49,444 | 23,280 | 21,964 | - | 7,835 | 9,239 | 10,010 | 10,122 | 9,871 | - | |
640/8 |
3,355 | 5,444 | 2,911 | 11,496 | 1,468 | 1,676 | 2,600 | 2,590 | 1,825 | 2,256 | 353 | 1,072 | 499 | 552 | 479 | 1,705 | 114 | |
66A |
- | - | - | - | - | - | - | - | - | - | 15,342 | - | - | - | - | - | - | |
9901 |
325,856 | 537,506 | 348,463 | -48,589 | 81,102 | 73,484 | 98,436 | 177,304 | 197,831 | 175,679 | 121,057 | 261,500 | -28,893 | -62,702 | 21,245 | -41,422 | 14,691 | |
75/76B |
- | 0 | 0 | - | 96 | - | - | 2 | 21 | 1 | - | - | - | 537,808 | 25 | - | 0 | |
75 |
- | 0 | 0 | - | 96 | - | - | 2 | 21 | 1 | - | - | - | 537,808 | 25 | - | 0 | |
65/66B |
84,100 | 115,099 | 82,536 | 58,997 | 58,695 | 57,789 | 58,361 | 113,609 | 124,618 | 124,008 | 130,430 | 117,514 | 61,144 | 14,584 | 4,022 | 2,346 | 96 | |
65 |
84,100 | 115,099 | 82,536 | 58,997 | 58,695 | 57,789 | 58,361 | 113,609 | 124,618 | 124,008 | 130,430 | 117,514 | 61,144 | 14,584 | 4,022 | 2,346 | 96 | |
9903 |
241,756 | 422,407 | 265,926 | -107,586 | 22,503 | 15,695 | 40,075 | 63,698 | 73,234 | 51,671 | -24,714 | 143,986 | -90,038 | 460,522 | 17,248 | -43,768 | 14,595 | |
67/77 |
67,762 | 110,460 | 45,269 | 1,803 | 7,380 | 5,211 | 11,425 | 16,177 | 21,527 | 12,189 | 151 | 2,039 | 155 | 160 | - | 3,858 | 0 | |
9904 |
173,995 | 311,947 | 220,658 | -109,390 | 15,122 | 10,484 | 28,650 | 48,275 | 52,461 | 40,237 | -24,112 | 142,701 | -90,192 | 460,361 | 17,248 | -47,626 | 14,595 | |
789 |
- | - | - | - | - | - | - | 1,463 | 1,463 | 1,463 | 1,463 | 1,463 | - | - | - | - | - | |
9905 |
173,995 | 311,947 | 220,658 | -109,390 | 15,122 | 10,484 | 28,650 | 49,738 | 53,925 | 41,700 | -22,648 | 144,165 | -90,192 | 460,361 | 17,248 | -47,626 | 14,595 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
173,995 | 311,947 | 220,658 | -109,390 | 15,122 | 10,484 | 28,650 | 49,738 | 53,925 | 41,700 | -22,648 | 144,165 | -90,192 | 429,984 | -30,377 | -47,626 | 14,595 | |
791/2 |
- | - | - | 109,390 | - | - | - | - | - | - | 22,648 | - | 90,192 | - | - | - | - | |
691/2 |
173,995 | 311,947 | 220,658 | - | 15,122 | 10,484 | 28,650 | 49,738 | 53,925 | 41,700 | - | 144,165 | - | 429,984 | - | - | 14,595 | |
6920 |
8,700 | 15,597 | 11,033 | - | - | - | - | - | - | - | - | 7,208 | - | 23,883 | - | - | 730 | |
6921 |
165,295 | 296,350 | 209,625 | - | 15,122 | 10,484 | 28,650 | 49,738 | 53,925 | 41,700 | - | 136,956 | - | 406,101 | - | - | 13,865 | |
| Social balance sheet | ||||||||||||||||||
9087 |
- | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 14-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 14-07-2026 | 2026-00294970 | |
| 31-12-2024 | abbreviated format | 03-07-2025 | 2025-00232026 | |
| 31-12-2023 | abbreviated format | 23-07-2024 | 2024-00274309 | |
| 31-12-2022 | abbreviated format | 06-07-2023 | 2023-00225980 | |
| 31-12-2021 | abbreviated format | 13-07-2022 | 2022-20180007 | |
| 31-12-2020 | abbreviated format | 14-06-2021 | 2021-19800223 | |
| 31-12-2019 | abbreviated format | 16-06-2020 | 2020-17500247 | |
| 31-12-2018 | abbreviated format | 21-06-2019 | 2019-20800348 | |
| 31-12-2017 | micro format | 25-06-2018 | 2018-23200041 | |
| 31-12-2016 | micro format | 15-06-2017 | 2017-17800162 | |
| 31-12-2015 | abbreviated format | 14-06-2016 | 2016-18000222 | |
| 31-12-2014 | abbreviated format | 15-06-2015 | 2015-17800428 | |
| 31-12-2013 | abbreviated format | 25-06-2014 | 2014-22200272 | |
| 31-12-2012 | abbreviated format | 13-06-2013 | 2013-17900016 | |
| 31-12-2011 | abbreviated format | 25-06-2012 | 2012-21400270 | |
| 31-12-2010 | abbreviated format | 06-07-2011 | 2011-27900172 | |
| 31-12-2009 | abbreviated format | 15-06-2010 | 2010-18000106 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 392,555 | 604,205 | 390,540 | 13,750 | 126,383 | 125,478 | 151,303 | 226,748 | 221,111 | 197,643 | - | 269,336 | -19,654 | -52,692 | 31,367 | -31,551 | - | ||
| 240,694 | 378,646 | 262,735 | -47,050 | 60,403 | 62,477 | 81,517 | 97,719 | 75,741 | 62,201 | - | 150,537 | -80,953 | 470,371 | 27,370 | -37,754 | - | ||
| 0 | -200 | 241,983 | 0 | 91,512 | 0 | 93,349 | 129,306 | 4,831 | 109,820 | - | 39,177 | 0 | 0 | 2,098 | 45,235 | 3.0m | ||
| -263,346 | 517,642 | 70,438 | -43,584 | 19,056 | 125,963 | -10,816 | -124,905 | 84,756 | 132,924 | 26,733 | 97,264 | -19,910 | -4,160 | 33,748 | 2,901 | - | ||
| -481,372 | -691,005 | -1.2m | -1.2m | -1.2m | -1.1m | -1.2m | -1.2m | -1.2m | -1.3m | -1.2m | -1.2m | -1.4m | -1.3m | -40,092 | -65,364 | 17,626 | ||
| 67.1% | 58.4% | 55.9% | 53.8% | 55.4% | 56.2% | 55.9% | 55.0% | 54.4% | 53.8% | 53.4% | 54.9% | 54.9% | 57.3% | 96.9% | 97.1% | 99.2% | ||
| 0.60 | 0.57 | 0.29 | 0.25 | 0.27 | 0.26 | 0.23 | 0.23 | 0.25 | 0.21 | 0.23 | 0.19 | 0.02 | 0.04 | 0.58 | 0.26 | 1.72 | ||
| 0.49 | 0.71 | 0.79 | 0.86 | 0.80 | 0.78 | 0.79 | 0.82 | 0.84 | 0.86 | 0.87 | 0.82 | 0.82 | 0.74 | 0.03 | 0.03 | 0.01 | ||
| 6.7% | 12.8% | 10.4% | -5.8% | 0.8% | 0.5% | 1.4% | 2.5% | 2.8% | 2.2% | -1.3% | 7.8% | -5.3% | 25.9% | 0.6% | -1.6% | 0.5% | ||
| 4.5% | 7.5% | 5.8% | -3.1% | 0.4% | 0.3% | 0.8% | 1.4% | 1.5% | 1.2% | -0.7% | 4.3% | -2.9% | 14.8% | 0.6% | -1.5% | 0.5% | ||
| 4.67 | 5.25 | 4.73 | 0.23 | 2.15 | - | - | - | - | - | - | - | - | - | - | - | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €241,983 | - | €91,512 |
| €66,699 | €66,699 | €42,077 | €62,339 | €45,281 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on VANCAST
The operating result for 2025 is 39% lower than in 2024 and the lowest since 2022.
Debt's share of the balance-sheet total falls from 41.6% to 32.9%. Equity is higher and debt is lower.