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 14 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
VG REAL ESTATE from Waregem, company number BE0437307177, closed financial year 2025 with a result of € 1.9 million after tax. For that financial year VG REAL ESTATE recorded a gross margin of € 748,463 and equity of € 1.7 million. Compared with financial year 2024, the result moved from € 357,437 to € 1.9 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 22, 2026.
€ 1.7 million
▲ 8% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.9 million
▲ € 1.5 million vs 2024
Profit after tax over the fiscal year.
€ 170,753
▼ 51% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 1.8 million paid out
93 % of the profit went to the shareholders, mostly to MAKIN'MEMORIES (100 % of the shares). That is where the money ends up.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 8,917
▲ € 8,855 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 20,499
▲ 77% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 256,231 | € 748,667 | € 980,633 | € 748,463 | ▼ 24% |
| Profit after taxes | € 7,384,058 | € 1,223,125 | € 357,437 | € 1,874,965 | ▲ € 1.5 million |
| Equity | € 1,410,791 | € 1,433,916 | € 1,541,353 | € 1,666,317 | ▲ 8% |
| Total debts | € 7,519,486 | € 4,368,675 | € 3,719,835 | € 4,808,971 | ▲ 29% |
| Cash | € 694,165 | € 476,753 | € 349,967 | € 170,753 | ▼ 51% |
| Land & buildings | € 3,131,291 | € 3,030,503 | € 2,798,457 | € 2,625,217 | ▼ 6% |
| Retained profit | € 228,381 | € 251,506 | € 358,943 | € 483,908 | ▲ 35% |
| Dividend | € 7,500,000 | € 1,200,000 | € 250,000 | € 1,750,000 | ▲ € 1.5 million |
| Balance sheet total | € 9,043,682 | € 5,894,806 | € 5,372,693 | € 6,567,556 | ▲ 22% |
Key figures of VG REAL ESTATE, 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 VG REAL ESTATE?
What happened at VG REAL ESTATE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Makin' Memories stepped down as director. NBB
- VG Solutions stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.9 million (▲ € 1.5 million vs 2024). Source: NBB ↗
- Makin' Memories became a director. NBB
- VG Solutions became a director. NBB
- New establishment in Waregem. KBO
- Start of the company according to the CBE. KBO
In short
From € 7.4 million profit in 2022 to € 1.9 million profit in 2025.
Paid € 311,914 in corporate taxes since 2022.
Best year ever: 2022, with € 7.4 million profit.
Paid out € 10.7 million in dividends to the owners in total.
A new publication or filing at VG REAL ESTATE? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of MAKIN'MEMORIES comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
VG REAL ESTATEThe shares are held by MAKIN'MEMORIES (100%).
Directors
According to the 2025 annual accounts
since 2023 · until 2029
Managing director · represented by Luc Vangaever
Also active at: VANGAEVER, MAKIN'MEMORIES, BRUSSELS PORT, BTV REAL ESTATE, VG CONNECTIONS, HELICAT
since 2023 · until 2029
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Kabeljauwstraat 20
8790 Waregem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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
- 0437.307.177
- VAT number
- BE 0437.307.177
- Registered office
- Kabeljauwstraat 20, 8790 Waregem
- Names & denominations
- VG REAL ESTATE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 19 April 1989
- Peppol
- Active · Active since 23 Jun 2025
- Activities · NACE
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