VM CONSTRUCT
Annual accounts 2025
micro format, filed on 30-06-2026, 31 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 ≈ €120,000. Estimated: probably between €86,000 and €190,000.
Balance sheet
balance sheet total €122,082 on 31-12-2025in euro
in euro
Position in the sector
55.0%
Higher than 59% of 35,119 companies in 2025.
2.41
Higher than 63% of 34,493 companies in 2025.
13.9%
Higher than 67% of 34,694 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 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
122,082 | 114,836 | 106,567 | 107,290 | 127,712 | 137,119 | 127,040 | 130,714 | 134,732 | 115,907 | 93,941 | 86,198 | 57,865 | 46,493 | 56,344 | 63,202 | 45,132 | 56,922 | 44,995 | 37,759 | |
20 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 133 | 294 | 453 | 613 | |
21/28 |
1,835 | 5,261 | 8,978 | 11,020 | 14,971 | 19,302 | 1,259 | 6,810 | 9,492 | 14,311 | 18,422 | 1,291 | 2,013 | 4,606 | 9,001 | 10,354 | 14,958 | 20,012 | 17,961 | 22,317 | |
22/27 |
- | 3,426 | 7,143 | 10,985 | 14,936 | 19,267 | 1,224 | 6,775 | 9,457 | 14,276 | 18,387 | 1,256 | 1,978 | 4,571 | 8,966 | 10,319 | 14,790 | 19,683 | 17,473 | 21,704 | |
23 |
- | 70 | 143 | 341 | 647 | 1,334 | 762 | 2,162 | 825 | 985 | 1,287 | 981 | 1,978 | 3,459 | 6,741 | 7,320 | 7,292 | 7,686 | 976 | 709 | |
24 |
- | - | - | - | - | 0 | 462 | 4,613 | 8,632 | 13,291 | 17,100 | 275 | - | 1,112 | 2,225 | - | - | - | - | - | |
25 |
- | 3,356 | 7,000 | 10,644 | 14,289 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
28 |
1,835 | 1,835 | 1,835 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | - | |
29/58 |
120,247 | 109,575 | 97,589 | 96,270 | 112,741 | 117,817 | 125,781 | 123,904 | 125,240 | 101,596 | 75,519 | 84,907 | 55,852 | 41,887 | 47,343 | 52,848 | 30,174 | 36,910 | 27,034 | 15,442 | |
3 |
3,250 | 7,300 | 11,250 | 6,450 | 2,555 | - | - | - | - | - | - | - | - | 1,058 | - | - | - | - | - | - | |
30/36 |
3,250 | 7,300 | 11,250 | 6,450 | 2,555 | - | - | - | - | - | - | - | - | 1,058 | - | - | - | - | - | - | |
40/41 |
110,450 | 99,630 | 86,339 | 89,719 | 107,680 | 108,284 | 114,451 | 111,022 | 125,007 | 99,250 | 75,519 | 66,444 | 55,852 | 40,254 | 46,768 | 49,579 | 22,968 | 36,875 | 15,239 | 11,274 | |
40 |
103,122 | 99,417 | 86,265 | 84,895 | 79,869 | 83,691 | 86,506 | 79,142 | 108,551 | 88,405 | 64,182 | 63,944 | 33,064 | 30,921 | 36,871 | 44,352 | 17,870 | 36,685 | 8,284 | 11,273 | |
41 |
7,328 | 213 | 73 | 4,824 | 27,811 | 24,593 | 27,945 | 31,880 | 16,456 | 10,845 | 11,337 | 2,500 | 22,788 | 9,333 | 9,897 | 5,227 | 5,098 | 190 | 6,955 | 1 | |
54/58 |
6,547 | 2,645 | - | 0 | 2,506 | 9,533 | 11,331 | 12,604 | 73 | 2,346 | - | 18,463 | - | 575 | 575 | 3,269 | 7,206 | 35 | 11,795 | 4,168 | |
490/1 |
- | - | - | 100 | - | - | - | 278 | 160 | - | - | - | - | - | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
122,082 | 114,836 | 106,567 | 107,290 | 127,712 | 137,119 | 127,040 | 130,714 | 134,732 | 115,907 | 93,941 | 86,198 | 57,865 | 46,493 | 56,344 | 63,202 | 45,132 | 56,922 | 44,995 | 37,759 | |
10/15 |
67,111 | 50,083 | 37,969 | 37,101 | 71,401 | 72,342 | 68,235 | 66,533 | 82,386 | 58,320 | 36,976 | 27,961 | 13,580 | 17,912 | 8,093 | 11,114 | 5,066 | -4,313 | 40 | 4,262 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
60,911 | 30,901 | 30,901 | 30,901 | 66,142 | 66,142 | 62,035 | 60,333 | 76,186 | 52,120 | 30,776 | 21,761 | 11,712 | 11,712 | 4,914 | 4,914 | - | - | - | - | |
130/1 |
2,606 | 2,606 | 2,606 | 2,606 | 2,606 | 2,606 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 2,606 | 2,606 | 2,606 | 2,606 | 1,539 | 1,088 | 586 | 586 | 246 | 246 | - | - | - | - | |
1311 |
2,606 | 2,606 | 2,606 | 2,606 | 2,606 | 2,606 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
58,305 | 28,295 | 28,295 | 28,295 | 63,536 | 63,536 | 59,429 | 57,727 | 73,580 | 49,514 | 29,237 | 20,673 | 11,126 | 11,126 | 4,668 | 4,668 | - | - | - | - | |
14 |
- | 12,982 | 869 | - | -941 | - | - | - | - | - | - | - | -4,332 | - | -3,021 | - | -1,134 | -10,513 | -6,160 | -1,938 | |
17/49 |
54,971 | 64,753 | 68,598 | 70,190 | 56,311 | 64,777 | 58,804 | 64,181 | 52,346 | 57,587 | 56,965 | 58,237 | 44,285 | 28,581 | 48,251 | 52,088 | 40,066 | 61,235 | 44,955 | 33,497 | |
17 |
5,000 | 5,000 | 8,644 | 12,457 | 16,108 | 14,603 | - | 2,563 | 10,701 | 14,469 | 22,447 | 11,212 | 20,134 | 6,309 | 10,365 | 15,984 | 5,631 | 9,264 | 12,583 | 15,677 | |
170/4 |
5,000 | 5,000 | 8,644 | 12,457 | 16,108 | 14,603 | - | 2,563 | 10,701 | 14,469 | 22,447 | 11,212 | 20,134 | 6,309 | 10,365 | 15,984 | 5,631 | 9,264 | 12,583 | 15,677 | |
42/48 |
49,971 | 59,753 | 57,249 | 57,733 | 40,203 | 50,173 | 58,804 | 61,618 | 41,645 | 42,492 | 26,705 | 30,901 | 21,624 | 22,272 | 37,886 | 35,153 | 33,928 | 51,521 | 31,206 | 17,376 | |
42 |
- | 3,644 | 3,813 | 3,651 | 952 | 3,346 | 2,563 | 4,256 | 4,086 | 7,977 | 7,362 | 5,593 | 4,176 | 4,056 | 3,939 | 7,741 | 3,600 | 3,330 | 3,120 | 2,900 | |
43 |
30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 7,985 | - | 1,295 | - | 3,345 | 501 | 676 | - | - | - | - | - | |
430/8 |
30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 7,985 | - | 1,295 | - | 3,345 | 501 | 676 | - | - | - | - | - | |
44 |
7,830 | 7,915 | 11,609 | 19,645 | 6,131 | 15,903 | 25,317 | 16,188 | 10,370 | 24,050 | 11,824 | 17,280 | 9,179 | 12,791 | 24,849 | 14,150 | 21,906 | 17,668 | 13,865 | 6,543 | |
440/4 |
7,830 | 7,915 | 11,609 | 19,645 | 6,131 | 15,903 | 25,317 | 16,188 | 10,370 | 24,050 | 11,824 | 17,280 | 9,179 | 12,791 | 24,849 | 14,150 | 21,906 | 17,668 | 13,865 | 6,543 | |
45 |
6,847 | 9,968 | 153 | 65 | 1,307 | - | - | 6,250 | 14,280 | 5,541 | 1,300 | 821 | - | - | - | 4,841 | - | - | - | 2,257 | |
450/3 |
6,847 | 9,968 | 153 | 65 | 1,307 | - | - | 6,250 | 14,280 | 5,541 | 1,300 | 821 | - | - | - | 4,841 | - | - | - | 2,257 | |
47/48 |
5,294 | 8,226 | 11,674 | 4,372 | 1,813 | 924 | 924 | 4,924 | 4,924 | 4,924 | 4,924 | 7,207 | 4,924 | 4,924 | 8,422 | 8,421 | 8,422 | 30,523 | 14,221 | 5,676 | |
492/3 |
- | - | 2,705 | - | - | - | - | - | - | 626 | 7,813 | 16,124 | 2,527 | - | - | 951 | 507 | 450 | 1,166 | 444 | |
| Income statement | |||||||||||||||||||||
76A |
- | - | 16,000 | - | - | - | - | - | - | - | - | - | - | - | 338 | - | - | - | - | 2,160 | |
9900 |
26,181 | 19,712 | 10,241 | -26,372 | 7,292 | 10,796 | 14,969 | -8,504 | 39,638 | 36,849 | 20,019 | 21,568 | -373 | 15,112 | 4,793 | 17,441 | 19,414 | 17,486 | 2,453 | 556 | |
630 |
3,426 | 3,717 | 3,842 | 3,950 | 4,331 | 780 | 6,694 | 5,876 | 5,368 | 5,489 | 5,678 | 1,633 | 3,193 | 5,031 | 5,104 | 8,075 | 7,257 | 7,119 | 5,169 | 2,041 | |
631/4 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,313 | - | - | - | |
640/8 |
450 | 209 | 649 | 367 | 181 | 50 | 300 | - | 55 | 50 | 744 | 409 | 50 | - | 1,646 | 130 | 50 | 13,276 | 70 | 1,020 | |
66A |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 324 | - | - | - | |
9901 |
22,305 | 15,786 | 5,750 | -30,689 | 2,780 | 9,966 | 7,975 | -14,380 | 34,215 | 31,310 | 13,597 | 19,526 | -3,616 | 10,081 | -1,957 | 9,236 | 10,794 | -2,909 | -2,786 | -2,505 | |
75/76B |
0 | 2 | - | - | 1,472 | 119 | - | 1,906 | 1,013 | 592 | 135 | 519 | 806 | 616 | 540 | 227 | - | 3 | - | 9 | |
75 |
0 | 2 | - | - | 1,472 | 119 | - | 1,906 | 1,013 | 592 | 135 | 519 | 806 | 616 | 540 | 227 | - | 3 | - | 9 | |
65/66B |
2,920 | 3,674 | 4,843 | 3,332 | 3,903 | 3,869 | 4,961 | 2,508 | 2,411 | 2,828 | 1,717 | 2,335 | 1,338 | 1,310 | 1,409 | 1,315 | 1,091 | 1,447 | 1,436 | 1,494 | |
65 |
2,920 | 3,674 | 4,843 | 3,332 | 3,903 | 3,408 | 4,961 | 2,508 | 2,411 | 2,828 | 1,717 | 2,335 | 1,338 | 1,310 | 1,409 | 1,315 | 1,091 | 1,447 | 1,436 | 1,494 | |
66B |
- | - | - | - | - | 461 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
9903 |
19,386 | 12,114 | 907 | -34,021 | 349 | 6,216 | 3,014 | -14,982 | 32,817 | 29,074 | 12,015 | 17,710 | -4,148 | 9,387 | -2,488 | 8,148 | 9,379 | -4,353 | -4,222 | -1,830 | |
67/77 |
2,357 | - | 38 | 279 | 1,291 | 2,109 | 1,311 | 871 | 8,750 | 7,730 | 3,000 | 3,329 | 184 | -432 | 533 | 2,100 | - | - | - | 108 | |
9904 |
17,028 | 12,114 | 869 | -34,300 | -941 | 4,107 | 1,702 | -15,853 | 24,067 | 21,344 | 9,015 | 14,381 | -4,332 | 9,819 | -3,021 | 6,048 | 9,379 | -4,353 | -4,222 | -1,938 | |
9905 |
17,028 | 12,114 | 869 | -34,300 | -941 | 4,107 | 1,702 | -15,853 | 24,067 | 21,344 | 9,015 | 14,381 | -4,332 | 9,819 | -3,021 | 6,048 | 9,379 | -4,353 | -4,222 | -1,938 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
17,028 | 12,982 | 869 | -35,242 | -941 | 4,107 | 1,702 | -15,853 | 24,067 | 21,344 | 9,015 | 10,049 | -4,332 | 6,798 | -3,021 | 4,914 | -1,134 | -10,513 | -6,160 | -1,938 | |
14P |
- | 869 | - | -941 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | 35,242 | - | - | - | 15,853 | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
17,028 | - | - | - | - | 4,107 | 1,702 | - | 24,067 | 21,344 | 9,015 | 10,049 | - | 6,798 | - | 4,914 | - | - | - | - | |
6920 |
- | - | - | - | - | - | - | - | - | 1,067 | 451 | 502 | - | 340 | - | 246 | - | - | - | - | |
6921 |
17,028 | - | - | - | - | 4,107 | 1,702 | - | 24,067 | 20,277 | 8,564 | 9,547 | - | 6,458 | - | 4,668 | - | - | - | - | |
| Document | |||||||||||||||||||||
The notes to these accounts have 6 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 30-06-2026.
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 | micro format | 30-06-2026 | 2026-00234456 | |
| 31-12-2024 | micro format | 29-07-2025 | 2025-00332889 | |
| 31-12-2023 | micro format | 10-07-2024 | 2024-00246713 | |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00201138 | |
| 31-12-2021 | micro format | 01-07-2022 | 2022-20160455 | |
| 31-12-2020 | micro format | 16-08-2021 | 2021-49500381 | |
| 31-12-2019 | micro format | 24-07-2020 | 2020-34100165 | |
| 31-12-2018 | micro format | 15-07-2019 | 2019-32600583 | |
| 31-12-2017 | micro format | 23-07-2018 | 2018-36100572 | |
| 31-12-2016 | micro format | 28-06-2017 | 2017-22600014 | |
| 31-12-2015 | abbreviated format | 20-07-2016 | 2016-33600273 | |
| 31-12-2014 | abbreviated format | 24-07-2015 | 2015-33900503 | |
| 31-12-2013 | abbreviated format | 12-06-2014 | 2014-16800496 | |
| 31-12-2012 | abbreviated format | 18-06-2013 | 2013-18400555 | |
| 31-12-2011 | abbreviated format | 20-07-2012 | 2012-31700200 | |
| 31-12-2010 | abbreviated format | 11-08-2011 | 2011-39300577 | |
| 31-12-2009 | abbreviated format | 08-06-2010 | 2010-15800330 | |
| 31-12-2008 | abbreviated format | 06-08-2009 | 2009-54900119 | |
| 31-12-2007 | abbreviated format | 13-08-2008 | 2008-56400208 | |
| 31-12-2006 | abbreviated format | 03-08-2007 | 2007-53800086 |
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 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 25,731 | 19,503 | 9,592 | -26,739 | 7,111 | 10,746 | 14,669 | -8,504 | 39,583 | 36,799 | 19,275 | 21,159 | -423 | 15,112 | 3,147 | 17,311 | 18,051 | 4,210 | 2,383 | -464 | ||
| 20,454 | 15,831 | 4,711 | -30,350 | 3,390 | 4,887 | 8,397 | -9,977 | 29,435 | 26,833 | 14,693 | 16,014 | -1,139 | 14,850 | 2,083 | 14,123 | 16,636 | 2,766 | 947 | 103 | ||
| 0 | 0 | 1,800 | 0 | 0 | 19,286 | 1,143 | 3,194 | 549 | 1,378 | 22,809 | 911 | 600 | 636 | 6,750 | 3,471 | 2,204 | 9,169 | 813 | 23,559 | ||
| 3,902 | - | - | -2,506 | -7,027 | -1,797 | -1,273 | 12,531 | -2,273 | - | - | - | - | 0 | -2,694 | -3,937 | 7,171 | -11,760 | 7,627 | - | ||
| 70,276 | 49,822 | 40,340 | 38,537 | 72,538 | 67,643 | 66,977 | 62,286 | 83,595 | 59,104 | 48,814 | 54,006 | 34,228 | 19,615 | 9,457 | 17,695 | -3,754 | -14,611 | -4,172 | -1,934 | ||
| 55.0% | 43.6% | 35.6% | 34.6% | 55.9% | 52.8% | 53.7% | 50.9% | 61.1% | 50.3% | 39.4% | 32.4% | 23.5% | 38.5% | 14.4% | 17.6% | 11.2% | -7.6% | 0.1% | 11.3% | ||
| 2.41 | 1.83 | 1.70 | 1.67 | 2.80 | 2.35 | 2.14 | 2.01 | 3.01 | 2.39 | 2.83 | 2.75 | 2.58 | 1.88 | 1.25 | 1.50 | 0.89 | 0.72 | 0.87 | 0.89 | ||
| 2.34 | 1.71 | 1.51 | 1.56 | 2.74 | 2.35 | 2.14 | 2.01 | 3.01 | 2.39 | 2.83 | 2.75 | 2.58 | 1.83 | 1.25 | 1.50 | 0.89 | 0.72 | 0.87 | 0.89 | ||
| 0.82 | 1.29 | 1.81 | 1.89 | 0.79 | 0.90 | 0.86 | 0.96 | 0.64 | 0.99 | 1.54 | 2.08 | 3.26 | 1.60 | 5.96 | 4.69 | 7.91 | - | - | 7.86 | ||
| 25.4% | 24.2% | 2.3% | -92.5% | -1.3% | 5.7% | 2.5% | -23.8% | 29.2% | 36.6% | 24.4% | 51.4% | -31.9% | 54.8% | -37.3% | 54.4% | 185.1% | - | - | -45.5% | ||
| 13.9% | 10.5% | 0.8% | -32.0% | -0.7% | 3.0% | 1.3% | -12.1% | 17.9% | 18.4% | 9.6% | 16.7% | -7.5% | 21.1% | -5.4% | 9.6% | 20.8% | -7.6% | -9.4% | -5.1% | ||
| 8.81 | 5.31 | 1.98 | -8.02 | 1.82 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
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 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | €1,800 | - | - |
| €3,426 | €3,717 | €3,842 | €3,950 | €4,331 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on VM CONSTRUCT
The operating result for 2025 is 41% higher than in 2024 and the highest since 2017. It is the third rise in a row, after the fall in 2022.
Debt's share of the balance-sheet total falls from 56.4% to 45.0%. Equity is higher and debt is lower.