VDW Progress
Annual accounts 2025
micro format, filed on 05-05-2026, 87 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €150,000. Estimated: probably between €130,000 and €190,000.
Balance sheet
balance sheet total €163,280 on 31-12-2025in euro
in euro
Position in the sector
75.7%
Higher than 69% of 21,208 companies in 2025.
5.07
Higher than 75% of 20,571 companies in 2025.
32.7%
Higher than 70% of 20,746 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
163,280 | 116,784 | 73,043 | |
21/28 |
20,043 | 27,040 | 33,874 | |
22/27 |
20,043 | 27,040 | 33,874 | |
23 |
1,963 | 1,590 | 1,054 | |
24 |
18,080 | 25,450 | 32,819 | |
29/58 |
143,237 | 89,744 | 39,170 | |
40/41 |
26,566 | 14,941 | 24,681 | |
40 |
23,833 | 13,364 | 23,991 | |
41 |
2,733 | 1,577 | 690 | |
54/58 |
116,516 | 73,999 | 14,331 | |
490/1 |
155 | 803 | 158 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
163,280 | 116,784 | 73,043 | |
10/15 |
123,619 | 70,219 | 25,052 | |
10/11 |
3,000 | 3,000 | 3,000 | |
13 |
120,619 | 67,219 | 22,052 | |
133 |
120,619 | 67,219 | 22,052 | |
14 |
0 | 0 | 0 | |
17/49 |
39,661 | 46,565 | 47,991 | |
17 |
11,412 | 18,674 | 25,671 | |
170/4 |
11,412 | 18,674 | 25,671 | |
42/48 |
28,249 | 27,890 | 22,017 | |
42 |
7,262 | 6,997 | 6,742 | |
44 |
710 | 699 | 2,144 | |
440/4 |
710 | 699 | 2,144 | |
45 |
20,277 | 19,361 | 12,298 | |
450/3 |
20,277 | 19,361 | 12,298 | |
47/48 |
0 | 833 | 833 | |
492/3 |
- | 0 | 303 | |
| Income statement | ||||
9900 |
77,291 | 67,421 | 33,775 | |
630 |
8,319 | 7,789 | 4,124 | |
640/8 |
298 | 310 | 122 | |
9901 |
68,674 | 59,322 | 29,529 | |
75/76B |
4 | - | - | |
75 |
4 | - | - | |
65/66B |
1,115 | 1,225 | 672 | |
65 |
1,115 | 1,225 | 672 | |
9903 |
67,563 | 58,097 | 28,857 | |
67/77 |
14,163 | 12,097 | 5,972 | |
9904 |
53,400 | 46,000 | 22,885 | |
9905 |
53,400 | 46,000 | 22,885 | |
| Appropriation of the result | ||||
9906 |
53,400 | 46,000 | 22,885 | |
691/2 |
53,400 | 45,167 | 22,052 | |
6921 |
53,400 | 45,167 | 22,052 | |
694/7 |
0 | 833 | 833 | |
694 |
0 | 833 | 833 | |
| 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 filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 05-05-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 76,993 | 67,111 | 33,653 | ||
| 61,718 | 53,789 | 27,009 | ||
| 1,321 | 956 | 37,997 | ||
| 42,517 | 59,669 | - | ||
| 114,988 | 61,853 | 17,152 | ||
| 75.7% | 60.1% | 34.3% | ||
| 5.07 | 3.22 | 1.78 | ||
| 0.32 | 0.66 | 1.92 | ||
| 43.2% | 65.5% | 91.4% | ||
| 32.7% | 39.4% | 31.3% | ||
| 69.03 | 54.81 | 50.04 |
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 |
|---|---|---|---|
| Tangible fixed assets | €1,321 | €956 | €37,997 |
| €8,319 | €7,789 | €4,124 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on VDW Progress
The operating result for 2025 is 16% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Debt's share of the balance-sheet total falls from 39.9% to 24.3%. Equity is higher and debt is lower.