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 56 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
V.M.A. from Sint-Martens-Latem, company number BE0406419112, closed financial year 2025 with a result of € 4.5 million after tax. For that financial year V.M.A. recorded revenue of € 106.8 million and equity of € 24.6 million. Compared with financial year 2024, the result moved from € -276,719 to € 4.5 million. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on April 28, 2026.
€ 24.6 million
▲ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 4.5 million
▲ still € 276,719 loss in 2024
Profit after tax over the fiscal year.
€ 58,598
▲ 115% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 4 million paid out
89 % of the profit went to the shareholders, mostly to CFE CONTRACTING NV (100 % of the shares). That is where the money ends up.
People and assets in 2025
324
▼ 22 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 26.8 million
▼ 1% vs 2024
€ 82,700 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.
€ 9 million
▼ 7% vs 2024
Of which on lease € 8.7 million.
Debts at end 2025
€ 7.5 million
▼ 8% vs 2024
€ 677,348 is repaid this year. At this pace the long-term loan is gone in ≈ 11 years.
€ 13.3 million
▼ 8% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 67 days on average.
€ 5.5 million
▲ 6% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 114,228,973 | € 132,492,774 | € 98,105,343 | € 106,833,750 | ▲ 9% |
| Profit after taxes | € 5,676,613 | € 573,677 | € -276,719 | € 4,495,687 | ▲ € 4.8 million |
| Equity | € 23,752,877 | € 24,326,554 | € 24,099,834 | € 24,595,521 | ▲ 2% |
| Total debts | € 57,053,313 | € 52,572,499 | € 50,289,329 | € 57,461,127 | ▲ 14% |
| Cash | € 318,646 | € 259,419 | € 27,199 | € 58,598 | ▲ 115% |
| Land & buildings | € 449,292 | € 408,247 | € 362,006 | € 527,599 | ▲ 46% |
| Retained profit | € 15,693,362 | € 16,267,039 | € 15,988,667 | € 16,484,354 | ▲ 3% |
| Dividend | € 4,300,000 | € 0 | € 0 | € 4,000,000 | |
| Bank debt | € 9,521,538 | € 8,857,168 | € 8,188,500 | € 7,515,507 | ▼ 8% |
| Balance sheet total | € 81,637,235 | € 78,707,308 | € 75,302,273 | € 83,740,850 | ▲ 11% |
| Employees (FTE) | 305.6 | 302 | 346 | 324 | ▼ 22 |
Key figures of V.M.A., fiscal years 2022 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 V.M.A.?
What happened at V.M.A. in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- IDICON BV stepped down as director. NBB
- OOLU BV stepped down as director. NBB
- JEMATIX BV stepped down as director. NBB
- MSQ BV stepped down as director. NBB
- NICOLAS NICOLAUS stepped down as director. NBB
- TROREMA BV stepped down as director. NBB
- EVCR BV stepped down as director. NBB
- CONSULTON VOF stepped down as director. NBB
In short
From € 5.7 million profit in 2022 to € 4.5 million profit in 2025.
Paid € 4.6 million in corporate taxes since 2022.
Best year ever: 2022, with € 5.7 million profit.
Paid out € 8.3 million in dividends to the owners in total.
Management
The shares are held by CFE CONTRACTING NV (100%). It owns 100% of VMA MIDLANDS LTD and 99% of VMA POLSKA SPOLKA Z.O.O. itself.
Directors
According to the 2025 annual accounts
Director · represented by FABIEN DE JONGE
Also active at: Van Laere, BPI SAMAYA, MOBIX, Brantegem, BPC Group, VMA SUD, Mobix Engetec, Bâtiments et Ponts Construction +19 more
since 2019 · until 2029
Director · represented by JOHAN DE BRUYCKERE
since 2023 · until 2029
NICOLAS NICOLAUS
Director
since 2018 · until 2029
Director · represented by RAYMUND TROST
Also active at: Groep Terryn Construct, TERRYN TIMBER PRODUCTS, Van Laere, MOBIX, MBG, GROEP TERRYN, BPC Group, VMA SUD +12 more
since 2018 · until 2029
since 2025 · until 2029
Director · represented by PETER MATTON
Also active at: Brantegem, VMA be.Maintenance, VMA SUD, Pulse
since 2024 · until 2029
Director · represented by JORIS WOUTERS
Also active at: VMA be.Maintenance, VMA Sustainability Fund I
since 2023 · until 2029
AN HERREMANS
Director
Also active at: AANNEMINGSMAATSCHAPPIJ CFE, AGIDENS INTERNATIONAL, OncoDNA, BAARBEEK IMMO, Indigo Diabetes, BIO CAP INVEST, TURBO'S HOET GROUP, TURBO'S HOET GROUP FINANCE
since 2022 · until 2029
Director · represented by JOACHIM AGNEESSENS
since 2023 · until 2029
Shareholders
100%
Participations
VMA MIDLANDS LTD
100%
VMA POLSKA SPOLKA Z.O.O.
99%
Establishments
Establishment units
Physical locations of this company
Kortrijksesteenweg 14 box B
9830 Sint-Martens-Latem
Industrieterrein Kolmen 1108
3570 Alken
Active since 1 December 1949
Eikenlaan 96
8790 Waregem
Active since 24 March 1994
Kortrijksesteenweg 14 B
9830 Sint-Martens-Latem
Active since 1 October 1968
Lerenveld 1C
2547 Lint
Active since 1 January 2008
Doornzeelsestraat 72 box G
9940 Evergem
Active since 3 February 2020
Joseph Cardijnstraat 16
9420 Erpe-Mere
Active since 1 January 2024
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 4 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0406.419.112
- VAT number
- BE 0406.419.112
- Registered office
- Kortrijksesteenweg 14 bus B, 9830 Sint-Martens-Latem
- Names & denominations
- V.M.A.
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 19 September 1968
- Peppol
- Active · Active since 22 Aug 2025
- Activities · NACE
Algemene elektrotechnische installatiewerken
Elektrische installatie