Equity
VWE paid out €26,800 in dividends. That is 109% of the 2025 profit.
VWE paid out €26,800 in dividends. That is 109% of the 2025 profit.
The micro format states no turnover.
Of this, €136,682 falls due within a year.
In 2025, 3 people joined and 5 left.
Six of the last ten came late. The 2023 accounts came latest: 30 days after the end of the period.
Higher gross margin than 91% of companies in specialised construction. Sector median €39,022 · 37,125 companies.
In July 2024, 4,508 companies had the same profile as VWE has now. Each dot stands for 12 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,331 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,508 companies, not a prediction for VWE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| VWE Dison | €830,825 | €213,533 | 18.9% | - |
| ELI AUTOMATION Soumagne | €924,632 | €261,334 | 38.1% | - |
| Gelaude E & Co Blankenberge | €832,284 | €218,053 | 95.5% | - |
| VAN STAEYEN Malle | €852,967 | €197,154 | 44.4% | - |
| EBES Kapellen | €793,350 | €188,268 | 42.8% | - |
| AD.AI Asse | €805,906 | €251,855 | 36.9% | - |
| MULLER ELECTRICITE Woluwe-Saint-Lambert | €768,487 | €184,967 | 50.5% | - |
These companies have the same main activity as VWE: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €768,000 and €925,000, founded between 2007 and 2008.
VWE files the micro format. That format states no turnover. The gross margin rose from €8,509 in 2009 to €213,533 in 2025.
The balance sheet grew most from 2021 to 2023 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €630,000. Estimated: probably between €430,000 and €780,000.
Higher than 21% of 37,177 companies in 2025.
Higher than 26% of 36,472 companies in 2025.
Higher than 37% of 36,707 companies in 2025.
Net result: middle half · Equity: top quarter · Balance sheet total: top quarter · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 3 people joined and 5 left. Training hours in 2025: 1,360.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
830,825 | 826,805 | 787,496 | 693,343 | 543,327 | 373,053 | 294,730 | 224,019 | 235,525 | 194,324 | 179,387 | 66,507 | 62,926 | 57,435 | 51,983 | 28,764 | 19,493 | |
21/28 |
676,919 | 695,793 | 591,467 | 527,774 | 365,370 | 228,915 | 150,391 | 109,208 | 118,905 | 112,693 | 120,502 | 12,246 | 18,880 | 13,355 | 17,711 | 2,547 | 2,886 | |
22/27 |
676,799 | 695,673 | 591,347 | 527,654 | 365,250 | 228,795 | 150,271 | 109,088 | 118,785 | 112,573 | 120,382 | 12,126 | 18,760 | 13,235 | 17,591 | 2,427 | 2,886 | |
22 |
637,167 | 642,835 | 560,829 | 524,987 | 360,938 | 226,053 | 146,490 | 100,874 | 106,483 | 112,092 | 116,510 | - | - | - | - | - | - | |
23 |
1,243 | 2,625 | 4,279 | 1,894 | 2,860 | 2,337 | 500 | 833 | 0 | 480 | 1,080 | 1,964 | 531 | 1,249 | 1,379 | 1,449 | 728 | |
24 |
38,389 | 50,213 | 26,239 | 773 | 1,452 | 405 | 3,280 | 7,381 | 12,301 | 0 | 2,792 | 10,162 | 18,229 | 11,986 | 16,211 | 979 | 2,158 | |
28 |
120 | 120 | 120 | 120 | 120 | 120 | 120 | 120 | 120 | 120 | 120 | 120 | 120 | 120 | 120 | 120 | - | |
29/58 |
153,906 | 131,012 | 196,029 | 165,569 | 177,957 | 144,138 | 144,339 | 114,810 | 116,620 | 81,631 | 58,885 | 54,261 | 44,047 | 44,080 | 34,272 | 26,217 | 16,607 | |
29 |
- | 0 | 7,500 | 30,000 | 30,000 | 30,000 | 30,000 | - | - | - | - | - | - | - | - | - | - | |
290 |
- | - | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | |
291 |
- | 0 | 7,500 | 30,000 | 30,000 | 30,000 | 30,000 | - | - | - | - | - | - | - | - | - | - | |
3 |
46,463 | 39,865 | 39,814 | 36,709 | 29,232 | 13,150 | 9,758 | 23,150 | 21,501 | 31,616 | 21,314 | 19,499 | 14,756 | 15,053 | 4,707 | - | - | |
30/36 |
46,463 | 39,865 | 39,814 | 36,709 | 29,232 | 13,150 | 9,758 | 23,150 | 21,501 | 31,616 | 21,314 | 19,499 | 14,756 | 15,053 | 4,707 | - | - | |
40/41 |
42,873 | 71,815 | 60,821 | 37,478 | 44,274 | 51,420 | 23,523 | 56,815 | 47,475 | 31,108 | 19,266 | 22,329 | 25,120 | 17,419 | 19,369 | 4,068 | 7,308 | |
40 |
23,661 | 57,011 | 53,946 | 32,099 | 41,049 | 46,352 | 23,078 | 22,649 | 16,735 | 28,441 | 16,209 | 15,693 | 20,380 | 14,589 | 16,473 | 2,343 | 7,067 | |
41 |
19,213 | 14,804 | 6,875 | 5,380 | 3,225 | 5,068 | 445 | 34,167 | 30,740 | 2,667 | 3,057 | 6,636 | 4,740 | 2,830 | 2,896 | 1,725 | 240 | |
54/58 |
60,152 | 13,923 | 76,441 | 47,125 | 71,391 | 47,040 | 80,458 | 34,341 | 47,140 | 17,754 | 18,207 | 12,431 | 4,162 | 11,444 | 10,158 | 22,097 | 9,290 | |
490/1 |
4,418 | 5,410 | 11,452 | 14,257 | 3,060 | 2,527 | 600 | 504 | 504 | 1,152 | 98 | 2 | 8 | 164 | 38 | 52 | 9 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
830,825 | 826,805 | 787,496 | 693,343 | 543,327 | 373,053 | 294,730 | 224,019 | 235,525 | 194,324 | 179,387 | 66,507 | 62,926 | 57,435 | 51,983 | 28,764 | 19,493 | |
10/15 |
156,637 | 159,453 | 131,716 | 117,524 | 133,307 | 128,140 | 110,781 | 103,347 | 83,344 | 51,759 | 35,465 | 39,132 | 30,445 | 30,465 | 15,665 | 15,040 | 13,953 | |
10/11 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 8,600 | 8,600 | 8,600 | 8,600 | 8,600 | 8,600 | 8,600 | 8,600 | 8,600 | 8,600 | 8,600 | |
13 |
110,950 | 113,060 | 84,660 | 68,960 | 83,260 | 76,660 | 57,860 | 49,860 | 33,860 | 16,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
- | - | - | 0 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | 0 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
133 |
110,950 | 113,060 | 84,660 | 68,960 | 81,400 | 74,800 | 56,000 | 48,000 | 32,000 | 15,000 | - | - | - | - | - | - | - | |
14 |
27,678 | 27,670 | 27,619 | 28,414 | 29,183 | 29,902 | 30,629 | 30,482 | 25,765 | 24,899 | 23,605 | 27,272 | 18,585 | 18,605 | 3,805 | 3,180 | 2,093 | |
15 |
8,009 | 8,723 | 9,437 | 10,150 | 10,864 | 11,578 | 12,292 | 13,005 | 13,719 | - | - | - | - | - | - | - | - | |
17/49 |
674,188 | 667,352 | 655,779 | 575,819 | 410,020 | 244,913 | 183,949 | 120,671 | 152,181 | 142,565 | 143,922 | 27,375 | 32,482 | 26,970 | 36,318 | 13,724 | 5,540 | |
17 |
537,439 | 568,551 | 519,717 | 504,167 | 358,225 | 212,827 | 94,072 | 105,622 | 116,923 | 114,161 | 123,750 | 12,080 | 19,267 | 10,178 | 13,976 | - | - | |
170/4 |
537,439 | 568,551 | 519,717 | 504,167 | 358,225 | 212,827 | 94,072 | 105,622 | 116,923 | 114,161 | 123,750 | 12,080 | 19,267 | 10,178 | 13,976 | - | - | |
42/48 |
136,682 | 98,740 | 135,994 | 71,652 | 51,455 | 32,086 | 89,840 | 15,049 | 33,852 | 28,277 | 19,265 | 15,151 | 11,998 | 14,648 | 22,337 | 13,705 | 5,538 | |
42 |
63,067 | 54,261 | 47,272 | 27,676 | 28,517 | 20,030 | 11,550 | 11,301 | 14,507 | 9,589 | 10,330 | 7,187 | 6,913 | 3,798 | 3,652 | - | - | |
44 |
38,219 | 30,743 | 47,501 | 23,646 | 3,313 | 8,250 | 76,281 | 563 | 6,016 | 10,345 | 8,744 | 4,114 | 4,199 | 4,823 | 15,275 | 11,486 | 3,354 | |
440/4 |
38,219 | 30,743 | 47,501 | 23,646 | 3,313 | 8,250 | 76,281 | 563 | 6,016 | 10,345 | 8,744 | 4,114 | 4,199 | 4,823 | 15,275 | 11,486 | 3,354 | |
45 |
8,338 | 13,396 | 24,420 | 2,530 | 3,826 | 3,006 | 2,009 | 385 | 9,029 | 8,085 | 0 | 3,739 | 776 | 6,027 | 3,380 | 2,189 | 2,184 | |
450/3 |
8,329 | 4,436 | 7,299 | - | 1,361 | 1,232 | 1,232 | 0 | 9,029 | 8,085 | 0 | 3,739 | 776 | 6,027 | 868 | 939 | 2,184 | |
454/9 |
9 | 8,960 | 17,121 | 2,530 | 2,465 | 1,774 | 777 | 385 | 0 | 0 | 0 | 0 | 0 | 0 | 2,513 | 1,250 | - | |
47/48 |
27,058 | 340 | 16,800 | 17,800 | 15,800 | 800 | 0 | 2,800 | 4,300 | 257 | 192 | 110 | 110 | 0 | 30 | 30 | - | |
492/3 |
67 | 61 | 69 | 0 | 340 | 0 | 37 | 0 | 1,406 | 127 | 907 | 144 | 1,217 | 2,144 | 4 | 19 | 2 | |
| Income statement | ||||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | 205,062 | 164,267 | 156,700 | 116,540 | 66,296 | 27,735 | |
76A |
- | - | - | - | - | - | - | - | - | - | - | - | 1,446 | - | - | - | - | |
9900 |
213,533 | 252,613 | 236,340 | 121,051 | 135,762 | 81,417 | 55,783 | 49,008 | 47,743 | 26,687 | 33,005 | 22,836 | 12,518 | 27,569 | 9,171 | 4,793 | 8,509 | |
60/61 |
- | - | - | - | - | - | - | - | - | - | - | 182,226 | 151,750 | 129,131 | 107,369 | 61,504 | 19,226 | |
62 |
92,209 | 134,165 | 119,554 | 31,139 | 30,094 | 15,722 | 9,196 | 4,673 | - | - | - | - | - | - | - | - | - | |
630 |
69,783 | 65,339 | 58,804 | 51,761 | 46,677 | 38,619 | 33,088 | 11,085 | 14,290 | 9,001 | 36,029 | 9,635 | 11,924 | 5,379 | 6,289 | 2,145 | 2,022 | |
640/8 |
6,195 | 5,200 | 6,952 | 26,426 | 25,919 | 1,247 | 1,549 | 644 | 1,860 | 2,193 | 1,047 | 1,141 | 1,332 | 995 | 1,084 | 319 | 266 | |
66A |
- | - | - | - | - | - | - | - | - | 198 | - | - | - | - | - | - | - | |
9901 |
45,346 | 47,909 | 51,031 | 11,725 | 33,072 | 25,828 | 11,950 | 32,605 | 31,593 | 15,296 | -4,071 | 12,060 | -738 | 21,196 | 1,798 | 2,328 | 6,221 | |
75/76B |
2,326 | 4,543 | 2,586 | 2,532 | 2,862 | 2,359 | 1,990 | 2,060 | 3,263 | 12,670 | 1,049 | 1,125 | 635 | 299 | 76 | 22 | 42 | |
75 |
2,326 | 2,293 | 2,586 | 2,532 | 2,862 | 2,359 | 1,990 | 2,060 | 3,263 | 750 | 1,049 | 1,125 | 635 | 299 | 76 | 22 | 42 | |
76B |
- | 2,250 | - | - | - | - | - | - | - | 11,920 | - | - | - | - | - | - | - | |
65/66B |
16,358 | 14,314 | 13,321 | 11,256 | 7,288 | 6,622 | 4,381 | 3,252 | 3,661 | 3,587 | 645 | 963 | 585 | 666 | 440 | 198 | 123 | |
65 |
16,358 | 14,314 | 13,321 | 11,256 | 7,288 | 6,622 | 4,381 | 3,252 | 3,661 | 3,587 | 645 | 963 | 585 | 666 | 440 | 198 | 123 | |
9903 |
31,314 | 38,139 | 40,296 | 3,001 | 28,645 | 21,565 | 9,559 | 31,413 | 31,195 | 24,379 | -3,667 | 12,221 | 758 | 20,829 | 1,434 | 2,153 | 6,139 | |
67/77 |
6,616 | 9,688 | 8,590 | 270 | 6,965 | 2,692 | 1,412 | 7,895 | 7,629 | 8,085 | - | 3,534 | 778 | 6,029 | 809 | 1,066 | 2,186 | |
9904 |
24,698 | 28,450 | 31,706 | 2,731 | 21,680 | 18,873 | 8,147 | 23,517 | 23,566 | 16,294 | -3,667 | 8,688 | -20 | 14,800 | 625 | 1,087 | 3,953 | |
9905 |
24,698 | 28,450 | 31,706 | 2,731 | 21,680 | 18,873 | 8,147 | 23,517 | 23,566 | 16,294 | -3,667 | 8,688 | -20 | 14,800 | 625 | 1,087 | 3,953 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
52,368 | 56,070 | 60,119 | 31,914 | 51,583 | 49,502 | 38,629 | 49,282 | 48,465 | 39,899 | 23,605 | 27,272 | 18,585 | 18,605 | 3,805 | 3,180 | 3,953 | |
14P |
27,670 | 27,619 | 28,414 | 29,183 | 29,902 | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
26,800 | 0 | 16,000 | 17,000 | 15,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
24,690 | 28,400 | 31,700 | 2,700 | 21,600 | 18,800 | 8,000 | 16,000 | 17,000 | 15,000 | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
24,690 | 28,400 | 31,700 | 2,700 | 21,600 | 18,800 | 8,000 | 16,000 | 17,000 | 15,000 | - | - | - | - | - | - | - | |
694/7 |
26,800 | 0 | 16,800 | 17,800 | 15,800 | 800 | - | 2,800 | 5,700 | - | - | - | - | - | - | - | - | |
694 |
26,800 | 0 | 16,800 | 17,800 | 15,800 | 800 | - | 800 | 5,700 | - | - | - | - | - | - | - | - | |
695 |
- | - | - | - | - | - | - | 2,000 | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | ||||||||||||||||||
9087 |
2.2 | 3.7 | 3.9 | 2.3 | 1.8 | 1.9 | 1.3 | 0.9 | - | - | - | - | - | - | - | - | - | |
Hours worked1013 |
3,178 | 5,578 | 5,902 | 2,176 | 2,588 | 2,190 | 2,516 | 1,746 | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 9 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 26-08-2026.
2025 annual accounts filed 26 days after the deadline. Filed on 26 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00448651.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-08-2026 | 2026-00448651 | |
| 31-12-2024 | micro format | 28-08-2025 | 2025-00444159 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00430201 | |
| 31-12-2022 | micro format | 14-08-2023 | 2023-00332740 | |
| 31-12-2021 | micro format | 27-07-2022 | 2022-20240033 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-55700572 | |
| 31-12-2019 | micro format | 20-07-2020 | 2020-33900446 | |
| 31-12-2018 | micro format | 07-08-2019 | 2019-44500576 | |
| 31-12-2017 | micro format | 29-06-2018 | 2018-25400107 | |
| 31-12-2016 | micro format | 05-07-2017 | 2017-28700067 | |
| 31-12-2015 | full format | 01-07-2016 | 2016-25800332 | |
| 31-12-2014 | full format | 29-06-2015 | 2015-22700291 | |
| 31-12-2013 | full format | 03-07-2014 | 2014-26100160 | |
| 31-12-2012 | full format | 28-06-2013 | 2013-23800574 | |
| 31-12-2011 | full format | 29-06-2012 | 2012-23100371 | |
| 31-12-2010 | full format | 06-07-2011 | 2011-26600146 | |
| 31-12-2009 | full format | 17-08-2010 | 2010-42000298 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 115,129 | 113,248 | 109,835 | 63,486 | 79,749 | 64,448 | 45,038 | 43,690 | 45,883 | 24,297 | 31,958 | 21,695 | 11,186 | 26,574 | 8,087 | 4,473 | 8,243 | ||
| 94,480 | 93,789 | 90,509 | 54,492 | 68,357 | 57,493 | 41,235 | 34,603 | 37,856 | 25,295 | 32,361 | 18,323 | 11,904 | 20,178 | 6,914 | 3,232 | 5,975 | ||
| 50,909 | 169,665 | 122,497 | 214,165 | 183,132 | 117,144 | 74,271 | 1,389 | 20,502 | 1,192 | 144,285 | 3,001 | 17,449 | 1,023 | 21,453 | 1,806 | 4,908 | ||
| 46,230 | -62,518 | 29,316 | -24,266 | 24,351 | -33,418 | 46,117 | -12,799 | 29,386 | -453 | 5,776 | 8,269 | -7,282 | 1,286 | -11,939 | 12,807 | - | ||
| 17,224 | 32,272 | 60,035 | 93,917 | 126,502 | 112,052 | 54,499 | 99,761 | 82,769 | 53,355 | 39,620 | 39,111 | 32,049 | 29,432 | 11,935 | 12,512 | 11,069 | ||
| - | - | - | - | - | - | - | - | - | - | - | 5.9% | -0.4% | 13.5% | 1.5% | 3.5% | 22.4% | ||
| 18.9% | 19.3% | 16.7% | 17.0% | 24.5% | 34.3% | 37.6% | 46.1% | 35.4% | 26.6% | 19.8% | 58.8% | 48.4% | 53.0% | 30.1% | 52.3% | 71.6% | ||
| 1.13 | 1.33 | 1.44 | 2.31 | 3.46 | 4.49 | 1.61 | 7.63 | 3.45 | 2.89 | 3.06 | 3.58 | 3.67 | 3.01 | 1.53 | 1.91 | 3.00 | ||
| 0.79 | 0.92 | 1.15 | 1.80 | 2.89 | 4.08 | 1.50 | 6.09 | 2.81 | 1.77 | 1.95 | 2.29 | 2.44 | 1.98 | 1.32 | 1.91 | 3.00 | ||
| 4.30 | 4.19 | 4.98 | 4.90 | 3.08 | 1.91 | 1.66 | 1.17 | 1.83 | 2.75 | 4.06 | 0.70 | 1.07 | 0.89 | 2.32 | 0.91 | 0.40 | ||
| 15.8% | 17.8% | 24.1% | 2.3% | 16.3% | 14.7% | 7.4% | 22.8% | 28.3% | 31.5% | -10.3% | 22.2% | -0.1% | 48.6% | 4.0% | 7.2% | 28.3% | ||
| 3.0% | 3.4% | 4.0% | 0.4% | 4.0% | 5.1% | 2.8% | 10.5% | 10.0% | 8.4% | -2.0% | 13.1% | 0.0% | 25.8% | 1.2% | 3.8% | 20.3% | ||
| 7.04 | 7.91 | 8.25 | 5.64 | 10.94 | - | - | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | 28 days | 45 days | 34 days | 52 days | 13 days | 93 days | ||
| - | - | - | - | - | - | - | - | - | - | - | 8 days | 10 days | 14 days | 52 days | 68 days | 64 days |
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.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 3 | 5 | 3 | 2 |
| full-time | 1 | 2 | 4 | 2 | 2 |
| part-time | - | 1 | 1 | 1 | - |
| in full-time equivalents | 1 | 2.8 | 4.8 | 2.8 | 2 |
| 2.2 | 3.7 | 3.9 | 2.3 | 1.8 | |
| On a permanent contract | - | 2 | 2 | 1 | 1 |
| Joined | 3 | 0 | 3 | 3 | 1 |
| Left | 5 | 2 | 1 | 2 | 0 |
| Training hours | 1,360 | 1,733 | 1,674 | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €50,909 | €169,665 | €122,497 | €214,165 | €183,132 |
| €69,783 | €65,339 | €58,804 | €51,761 | €46,677 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 5% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Debt's share of the balance-sheet total rises from 80.7% to 81.1%. Equity is lower and debt is higher.
VWE has no parent and no holdings in its annual accounts. is the only director. VWE shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Rue de Husquet 68 registered office 4820 Dison | ||
| Rue Anne de Molina 4 - 6 4821 Dison | 30-10-2008 | 2.175.159.870 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 63020B0192/03V002 | 215 m² | 1 · 61 m² | 10.7 m · 3 |
| 63002A0577/00W017 | 107 m² | 1 · 70 m² | 10.3 m · 3 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0807.535.094
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