Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 45 % of short-term debt in 2025; threshold 65 %.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
Woonmaatschappij Dender-Zuid from Aalst, company number BE0400268025, closed financial year 2025 with a result of € 224,021 after tax. For that financial year Woonmaatschappij Dender-Zuid recorded revenue of € 33.9 million and equity of € 73.7 million. Compared with financial year 2023, the result moved from € 130,173 to € 224,021. Profitable, and profit is growing. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on May 21, 2026.
€ 73.7 million
▼ 6% vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 224,021
▲ 72% vs 2023
Profit after tax over the fiscal year.
€ 10.6 million
▼ 3% vs 2023
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 47.1 million.
People and assets in 2025
68.8
▲ 18.1 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 6 million
▲ 11% vs 2023
€ 87,700 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 93,564
▼ 73% vs 2023
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 333.7 million
▼ 12% vs 2023
€ 22.8 million is repaid this year. At this pace the long-term loan is gone in ≈ 15 years.
€ 1.7 million
▼ 78% vs 2023
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 30 days on average.
€ 2.3 million
▲ 38% vs 2023
Taxes, VAT and social contributions still to pay.
| 2021 | 2022 | 2023 | 2025 | Change 2023 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 17,163,417 | € 16,822,015 | € 31,901,614 | € 33,880,542 | ▲ 6% |
| Profit after taxes | € 1,234,076 | € 266,960 | € 130,173 | € 224,021 | ▲ 72% |
| Equity | € 48,838,312 | € 48,809,406 | € 78,019,995 | € 73,676,712 | ▼ 6% |
| Total debts | € 216,401,882 | € 231,165,438 | € 395,979,183 | € 344,504,919 | ▼ 13% |
| Cash | € 6,993,754 | € 5,336,055 | € 10,933,310 | € 10,644,121 | ▼ 3% |
| Land & buildings | € 177,444,657 | € 199,378,806 | € 351,093,068 | € 337,968,623 | ▼ 4% |
| Retained profit | € 26,790,468 | € 27,055,579 | € 45,491,378 | € 47,100,449 | ▲ 4% |
| Dividend | € 1,849 | € 1,849 | € 0 | € 0 | |
| Bank debt | € 206,896,162 | € 223,077,191 | € 379,855,254 | € 333,728,189 | ▼ 12% |
| Balance sheet total | € 272,391,032 | € 287,338,841 | € 483,714,890 | € 424,733,496 | ▼ 12% |
| Employees (FTE) | 21.7 | 23.4 | 50.7 | 68.8 | ▲ 18.1 |
Key figures of Woonmaatschappij Dender-Zuid, fiscal years 2021 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Woonmaatschappij Dender-Zuid?
What happened at Woonmaatschappij Dender-Zuid in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Stad Aalst stepped down as director. NBB
- Gemeente Ninove stepped down as director. NBB
- Gemeente Erpe-Mere stepped down as director. NBB
- Stad Geraardsbergen stepped down as director. NBB
- Gemeente Denderleeuw stepped down as director. NBB
- Gemeente Lede stepped down as director. NBB
- Gemeente Haaltert stepped down as director. NBB
- Gemeente Wichelen stepped down as director. NBB
In short
From € 1.2 million profit in 2021 to € 224,021 profit in 2025.
Paid € 310,834 in corporate taxes since 2021.
Best year ever: 2021, with € 1.2 million profit.
Paid out € 3,698 in dividends to the owners in total.
Management
Directors
According to the 2025 annual accounts
since 2023 · until 2029
Director · represented by Evi Bické
since 2025 · until 2029
Director · represented by Emmy Janssens
Also active at: Regionaal Landschap Vlaamse Ardennen
since 2023 · until 2029
Director · represented by Rudy Frederic
Also active at: Regionaal Landschap Vlaamse Ardennen, BEDRIJVENCENTRUM REGIO GERAARDSBERGEN
since 2023 · until 2029
Director · represented by Jan De Nul
Also active at: Regionaal Landschap Vlaamse Ardennen
since 2023 · until 2029
Director · represented by Geertrui Van de Velde
since 2023 · until 2029
Director · represented by Klaas De Pauw
Also active at: Regionaal Landschap Vlaamse Ardennen
since 2025 · until 2029
Director · represented by Christoph Van de Wiele
Also active at: Lokaal Gezondheidsoverleg Gezond+
since 2023 · until 2029
Establishments
Establishment units
Physical locations of this company
Heilig Hartlaan 54
9300 Aalst
Acaciastraat 1
9400 Ninove
Active since 30 June 2023
Steenweg 439
9470 Denderleeuw
Active since 30 June 2023
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0400.268.025
- VAT number
- BE 0400.268.025
- Registered office
- Heilig Hartlaan 54, 9300 Aalst
- Names & denominations
- Woonmaatschappij Dender-Zuid
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 3 May 1956
- Peppol
- Not registered
- Activities · NACE
Verhuur en exploitatie van sociale woningen
Verhuur van sociale woningen