VPLUS
Annual accounts 2025
abbreviated format, filed on 29-06-2026, 32 days before the deadlineThe turnover shown is an estimate from the gross margin.
Turnover ≈ €1.8m. Estimated: probably between €1.7m and €2.6m.
Balance sheet
balance sheet total €394,778 on 31-12-2025in euro
in euro
Position in the sector
-12.9%
Higher than 18% of 4,838 companies in 2025.
0.94
Higher than 43% of 4,737 companies in 2025.
20.2%
Higher than 85% of 4,761 companies in 2025.
Net result: top quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff
€45,353
Staff costs divided by the average number of full-time equivalents.
+16 people
In 2025, 64 people joined and 48 left.
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||
20/58 |
394,778 | 199,049 | 202,896 | 223,905 | 288,259 | 236,555 | 334,825 | 428,264 | 486,000 | |
21/28 |
81,828 | 69,904 | 105,183 | 140,473 | 175,763 | 210,110 | 245,459 | 280,944 | 316,430 | |
21 |
- | 69,904 | 104,904 | 139,904 | 174,904 | 209,904 | 244,904 | 279,904 | 314,904 | |
22/27 |
76,764 | - | 279 | 569 | 859 | 206 | 555 | 1,040 | 1,526 | |
23 |
74,736 | - | - | - | - | 206 | 402 | 598 | 794 | |
24 |
2,028 | - | 279 | 569 | 859 | - | 152 | 442 | 732 | |
28 |
5,064 | - | - | - | - | - | - | - | - | |
29/58 |
312,950 | 129,146 | 97,713 | 83,433 | 112,496 | 26,445 | 89,367 | 147,320 | 169,570 | |
3 |
16,523 | 12,846 | 13,458 | 8,437 | 6,935 | 3,672 | 10,603 | 3,038 | 11,577 | |
30/36 |
16,523 | 12,846 | 13,458 | 8,437 | 6,935 | 3,672 | 10,603 | 3,038 | 11,577 | |
40/41 |
167 | 6,312 | 402 | 51 | - | 2,529 | 13,432 | 19,917 | 13,433 | |
40 |
167 | 5,208 | 242 | 51 | - | - | - | 5,636 | 1,661 | |
41 |
- | 1,105 | 160 | - | - | 2,529 | 13,432 | 14,281 | 11,773 | |
54/58 |
296,103 | 109,889 | 83,853 | 74,873 | 93,344 | 19,324 | 64,561 | 122,896 | 141,485 | |
490/1 |
156 | 98 | - | 72 | 12,218 | 920 | 771 | 1,468 | 3,075 | |
| Balance sheet: equity and liabilities | ||||||||||
10/49 |
394,778 | 199,049 | 202,896 | 223,905 | 288,259 | 236,555 | 334,825 | 428,264 | 486,000 | |
10/15 |
-50,980 | -130,916 | -128,810 | -127,891 | -104,058 | -181,497 | -92,881 | -9,335 | 2,333 | |
10/11 |
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 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | |
14 |
-57,180 | -137,116 | -135,010 | -134,091 | -110,258 | -187,697 | -99,081 | -15,535 | -3,867 | |
17/49 |
445,758 | 329,965 | 331,706 | 351,796 | 392,317 | 418,052 | 427,706 | 437,600 | 483,667 | |
17 |
114,382 | 144,537 | 167,364 | 204,100 | 232,843 | 251,691 | 258,695 | 866 | 11,106 | |
170/4 |
114,382 | 144,537 | 167,364 | 204,100 | 232,843 | 251,691 | 258,695 | 866 | 11,106 | |
42/48 |
331,376 | 185,399 | 164,343 | 147,696 | 159,474 | 166,362 | 169,011 | 436,734 | 472,465 | |
42 |
33,265 | 32,818 | 39,506 | 31,306 | 30,553 | 23,682 | 30,820 | 10,240 | 9,976 | |
44 |
186,201 | 82,862 | 63,832 | 77,776 | 100,649 | 111,419 | 98,260 | 373,309 | 421,506 | |
440/4 |
186,201 | 82,862 | 63,832 | 77,776 | 100,649 | 111,419 | 98,260 | 373,309 | 421,506 | |
45 |
101,676 | 59,636 | 49,816 | 28,464 | 18,199 | 21,260 | 39,721 | 53,185 | 40,313 | |
450/3 |
15,620 | 6,523 | 3,386 | 4,444 | 5,323 | 625 | 792 | 5,766 | - | |
454/9 |
86,056 | 53,113 | 46,431 | 24,019 | 12,876 | 20,635 | 38,929 | 47,419 | 40,313 | |
47/48 |
10,234 | 10,083 | 11,188 | 10,151 | 10,074 | 10,000 | 211 | - | 670 | |
492/3 |
- | 29 | - | - | - | - | - | - | 96 | |
| Income statement | ||||||||||
9900 |
784,873 | 446,293 | 453,471 | 334,054 | 296,748 | 151,404 | 206,873 | 391,561 | 362,603 | |
62 |
607,729 | 399,534 | 381,332 | 304,695 | 163,972 | 191,838 | 243,283 | 351,040 | 318,075 | |
630 |
10,690 | 35,279 | 35,290 | 35,290 | 35,217 | 35,348 | 35,486 | 35,486 | 35,418 | |
640/8 |
1,157 | 2,925 | 26,439 | 3,833 | 5,426 | 839 | 826 | 7,469 | 4,854 | |
66A |
69,904 | - | - | - | - | - | - | - | - | |
9901 |
95,393 | 8,555 | 10,410 | -9,764 | 92,134 | -76,622 | -72,722 | -2,434 | 4,256 | |
75/76B |
685 | 375 | 0 | - | - | - | 35 | 311 | 14 | |
75 |
685 | 375 | 0 | - | - | - | 35 | 311 | 14 | |
65/66B |
15,529 | 10,962 | 11,332 | 13,701 | 14,070 | 11,366 | 10,166 | 9,494 | 8,133 | |
65 |
15,529 | 10,962 | 11,332 | 13,701 | 14,070 | 11,366 | 10,166 | 9,494 | 8,133 | |
9903 |
80,549 | -2,033 | -921 | -23,465 | 78,064 | -87,988 | -82,853 | -11,616 | -3,864 | |
67/77 |
613 | 74 | -3 | 368 | 625 | 628 | 692 | 53 | 3 | |
9904 |
79,936 | -2,106 | -919 | -23,833 | 77,439 | -88,616 | -83,545 | -11,668 | -3,867 | |
9905 |
79,936 | -2,106 | -919 | -23,833 | 77,439 | -88,616 | -83,545 | -11,668 | -3,867 | |
| Appropriation of the result | ||||||||||
9906 |
-57,180 | -137,116 | -135,010 | -134,091 | -110,258 | -187,697 | -99,081 | -15,535 | -3,867 | |
14P |
-137,116 | -135,010 | -134,091 | -110,258 | -187,697 | - | - | - | - | |
| Social balance sheet | ||||||||||
9087 |
13.4 | 10 | 8.8 | 8.2 | 10.1 | 10.1 | 9.6 | 13.4 | 9.4 | |
Hours worked1013 |
24,161 | 15,096 | 14,688 | 12,943 | 8,084 | 8,361 | 11,342 | 16,592 | 14,769 | |
| Document | ||||||||||
The notes to these accounts have 14 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 29-06-2026.
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 | abbreviated format | 29-06-2026 | 2026-00211305 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00438958 | |
| 31-12-2023 | micro format | 22-08-2024 | 2024-00379284 | |
| 31-12-2022 | micro format | 29-08-2023 | 2023-00404646 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20409479 | |
| 31-12-2020 | full format | 23-08-2021 | 2021-56300218 | |
| 31-12-2019 | full format | 25-06-2020 | 2020-22600243 | |
| 31-12-2018 | micro format | 24-06-2019 | 2019-21900169 | |
| 31-12-2017 | micro format | 12-07-2018 | 2018-33400571 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| 106,083 | 43,834 | 45,700 | 25,526 | 127,351 | -41,274 | -37,236 | 33,052 | 39,674 | ||
| 90,626 | 33,173 | 34,371 | 11,457 | 112,656 | -53,268 | -48,060 | 23,817 | 31,551 | ||
| 92,518 | 0 | 23,359 | 0 | 869 | 0 | 0 | 0 | 351,848 | ||
| 186,214 | 26,036 | 8,981 | -18,471 | 74,020 | -45,237 | -58,336 | -18,588 | - | ||
| -18,426 | -56,253 | -66,629 | -64,264 | -46,978 | -139,917 | -79,645 | -289,414 | -302,894 | ||
| -12.9% | -65.8% | -63.5% | -57.1% | -36.1% | -76.7% | -27.7% | -2.2% | 0.5% | ||
| 0.94 | 0.70 | 0.59 | 0.56 | 0.71 | 0.16 | 0.53 | 0.34 | 0.36 | ||
| 0.89 | 0.63 | 0.51 | 0.51 | 0.66 | 0.14 | 0.47 | 0.33 | 0.33 | ||
| - | - | - | - | - | - | - | - | -165.8% | ||
| 20.2% | -1.1% | -0.5% | -10.6% | 26.9% | -37.5% | -25.0% | -2.7% | -0.8% | ||
| 6.83 | 4.00 | 4.03 | 1.86 | 9.05 | - | - | - | - |
EBIT margin: not included in this filing.
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 31 | 16 | 11 | 13 | 13 |
| full-time | 5 | 4 | 4 | 3 | 4 |
| part-time | 26 | 12 | 7 | 10 | 9 |
| in full-time equivalents | 15.9 | 10.2 | 6.9 | 8.5 | 9.3 |
| 13.4 | 8.5 | 8.3 | 8.2 | 10.1 | |
| On a permanent contract | 13 | 8 | 7 | 9 | 9 |
| Joined | 64 | 8 | 8 | 11 | 12 |
| Left | 48 | 3 | 9 | 9 | 12 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €87,454 | - | €23,359 | - | €869 |
| Financial fixed assets | €5,064 | - | - | - | - |
| €10,690 | €35,279 | €35,290 | €35,290 | €35,217 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on VPLUS
The operating result for 2025 is over 11 times that of 2024 and the highest since 2017. It is a recovery after the fall in 2024.
Equity is negative. Debt (€445,758) exceeds the balance-sheet total (€394,778).