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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Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
Vlerick Business School from Gent, company number BE0424244049, closed financial year 2025 with a result of € -1.5 million after tax. For that financial year Vlerick Business School recorded revenue of € 37.4 million and equity of € 49.5 million. Compared with financial year 2024, the result moved from € -2.9 million to € -1.5 million. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 2, 2026.
€ 49.5 million
▼ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.5 million
▲ 47 % less loss than in 2024
Profit after tax over the fiscal year.
€ 1.5 million
▼ 15% vs 2024
Cash and bank balances on the last day of the fiscal year.
People and assets in 2025
164.4
▼ 14.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 14.5 million
▲ 3% vs 2024
€ 88,500 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.
€ 278,541
▼ 20% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 8.5 million
▲ 43% vs 2024
€ 450,000 is repaid this year. At this pace the long-term loan is gone in ≈ 19 years.
€ 2.3 million
▼ 36% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 33 days on average.
€ 2.4 million
▲ 10% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 36,579,125 | € 37,458,123 | € 37,931,668 | € 37,439,027 | ▼ 1% |
| Profit after taxes | € 1,109,141 | € -1,996,700 | € -2,933,692 | € -1,543,890 | ▲ € 1.4 million |
| Equity | € 55,926,636 | € 53,929,936 | € 50,996,245 | € 49,452,354 | ▼ 3% |
| Total debts | € 24,191,035 | € 24,096,177 | € 27,376,596 | € 27,765,495 | ▲ 1% |
| Cash | € 4,396,719 | € 2,453,395 | € 1,742,765 | € 1,483,704 | ▼ 15% |
| Land & buildings | € 8,958,212 | € 9,059,956 | € 9,451,495 | € 10,243,815 | ▲ 8% |
| Retained profit | € 5,274,455 | € 3,277,756 | € 344,064 | € -1,199,827 | ▼ € 1.5 million |
| Bank debt | € 5,109,819 | € 4,356,250 | € 5,906,250 | € 8,456,250 | ▲ 43% |
| Balance sheet total | € 80,303,564 | € 78,212,006 | € 78,372,841 | € 77,217,849 | ▼ 1% |
| Employees (FTE) | 163.6 | 178.6 | 178.8 | 164.4 | ▼ 14.4 |
Key figures of Vlerick Business School, 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 Vlerick Business School?
What happened at Vlerick Business School in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Frank Vlayen stepped down as director. NBB
- Sofie Baeten stepped down as director. NBB
- Louis Jonckheere stepped down as director. NBB
- Rudy Provoost stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 1.5 million. Source: NBB ↗
- Kristine de Valck stepped down as director. NBB
- Jean-Luc Deleersnyder stepped down as director. NBB
- Julio Urgel stepped down as director. NBB
In short
From € 1.1 million profit in 2022 to € 1.5 million loss in 2025.
Paid € 62,113 in corporate taxes since 2022.
Best year ever: 2022, with € 1.1 million profit.
Pays suppliers within 33 days on average.
Management
Behind Vlerick Business School are Dirk Buyens, Petra De Sutter, Ignace Lemahieu, Patrick De Greve, Wim Desmet and Marion Debruyne. It owns 100% of Vlerick Research and 2.4% of Camaraderie Development Ltd itself.
Directors
According to the 2025 annual accounts
Dirk Buyens
Director
Also active at: Zorgnetwerk Trento, Dirk Buyens, VLERICK RESEARCH, Vlerick Partner
since 2025
Petra De Sutter
Director
Also active at: Collegium Vocale Gent, VLERICK RESEARCH, Associatie Universiteit Gent
since 2025
Ignace Lemahieu
Director
Also active at: VLERICK RESEARCH, OSTEND SCIENCE PARK, BLUEBRIDGE INCUBATIE- EN INNOVATIECENTRUM, Flanders Make
since 2015
Patrick De Greve
Director
Also active at: VLERICK RESEARCH, JOANN, ORSI ACADEMY, PATRICK DE GREVE, Vlerick Partner
since 2003
Wim Desmet
Director
Also active at: VOKA - Kamer van Koophandel Vlaams-Brabant, VLERICK RESEARCH, Z.org KU Leuven, Wetenschapspark Leuven Noord, SALVE MATER, INCUBATHOR WETENSCHAPSPARK WATERSCHEI, AVICON, PARKEERGEBOUW +1 more
since 2022
since 2014
Sophie Manigart
Director
Also active at: Ryhove, Participatiemaatschappij Vlaanderen, Sophie Manigart, VLERICK RESEARCH, Vlerick Partner, QBIC Venture Partners
since 2018
since 2025
Philippe Vlerick
Director
Also active at: B.M.H., KBC Groep, DE ROBAERTBEEK, VLERICK RESEARCH, DW Invest, DW Construct, KBC Global Services, PENTAHOLD
since 2002
since 2015 · until 2025
Frank Vlayen
Director
Also active at: Moore Belgium, DeSingel, IMMOVLACO, SIHOLD, VLERICK RESEARCH, MOBILE SCHOOL, Packaging PrintCo, Brughuis Brouwers +3 more
since 2025 · until 2028
since 2020 · until 2026
Rik Van de Walle
Director
Also active at: Egmont-Institut Royal des Relations Internationales, Festival van Vlaanderen Gent en Historische Steden, Internationaal Filmfestival van VLaanderen - Festival international du Film de Flandre - Flanders International Film Festival, IL GARDELLINO, VLERICK RESEARCH, OSTEND SCIENCE PARK, Associatie Universiteit Gent
since 2017 · until 2025
Sofie Baeten
Director
Also active at: Volksvermogen, VLERICK RESEARCH, EYED PHARMA, Firecell Belgium, Indigo Diabetes, Qbic Venture Partners II, QBIC II FUND ARKIV, Blue Foot Membranes +9 more
since 2025 · until 2028
Jean-Luc Deleersnyder
Director
Also active at: Immogar, REYNAERS ALUMINIUM, VLERICK RESEARCH, Fedrus International, LUXANTOR, TERBIUM PARTNERS
since 2009 · until 2026
since 2015 · until 2026
since 2015 · until 2025
Louis Jonckheere
Vice-chairman of the board, Chairman of the board
Also active at: VLERICK RESEARCH, Ninnip, BYTEFLIES, LFG invest, Together for Entrepreneurship, Networking and Technology, CHILI PUBLISH
since 2017 · until 2028
since 2020 · until 2025
since 2017 · until 2025
since 2020 · until 2026
Rudy Provoost
Director, Vice-chairman of the board
Also active at: VLAAMS ECONOMISCH VERBOND, Vlaams Netwerk van Ondernemingen, POLLET GROUP, ELIA ASSET, VLERICK RESEARCH, Elia Group, Elia Transmission Belgium
since 2009 · until 2028
Luc Sels
Director
Also active at: MAATSCHAPPIJ VOOR ROEREND BEZIT VAN DE BOERENBOND, Egmont-Institut Royal des Relations Internationales, Fondation Universitaire, VLERICK RESEARCH, Z.org KU Leuven, Agri Investment Fund
since 2017 · until 2025
Establishments
Establishment units
Physical locations of this company
Reep 1
9000 Gent
Vlamingenstraat 83
3000 Leuven
Active since 3 March 2006
Bolwerklaan 21 box 32
1210 Sint-Joost-ten-Node
Active since 1 October 2011
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 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
- 0424.244.049
- VAT number
- BE 0424.244.049
- Registered office
- Reep 1, 9000 Gent
- Names & denominations
- Vlerick Business School
- Enterprise type
- Rechtspersoon
- Legal form
- Public-interest foundation
- Legal situation
- Normale toestand
- Start date
- 31 March 1983
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
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