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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Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 28 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 84.1 to 61.5.
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Legal situation KBO
Opening faillissement according to the CBE.
Financials
Financial year 2025
VANDEWALLE from Jabbeke, company number BE0441838859, closed financial year 2025 with a result of € -5.3 million after tax. For that financial year VANDEWALLE recorded revenue of € 7.2 million and equity of € -17.6 million. Compared with financial year 2024, the result moved from € -7.2 million to € -5.3 million. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 2, 2026.
€ -17.6 million
▼ € 5.3 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -5.3 million
▲ 26 % less loss than in 2024
Profit after tax over the fiscal year.
€ 916,518
▲ € 915,592 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -18 million.
People and assets in 2025
61.5
▼ 20.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 4.2 million
▼ 23% vs 2024
€ 67,500 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.
Debts at end 2025
€ 20.2 million
▲ 18% vs 2024
Loans from banks and other lenders, long and short.
€ 1.8 million
▼ 18% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 84 days on average.
€ 335,545
▼ 19% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 30,056,718 | € 34,747,020 | € 17,015,540 | € 7,172,108 | ▼ 58% |
| Profit after taxes | € -249,651 | € -5,964,767 | € -7,174,887 | € -5,275,142 | ▲ € 1.9 million |
| Equity | € 820,552 | € -5,144,215 | € -12,319,102 | € -17,594,243 | ▼ € 5.3 million |
| Total debts | € 15,916,493 | € 21,691,444 | € 20,991,039 | € 23,335,424 | ▲ 11% |
| Cash | € 700,889 | € 16,390 | € 926 | € 916,518 | ▲ € 915,592 |
| Land & buildings | € 28,412 | € 55,377 | € 51,142 | - | |
| Retained profit | € 436,124 | € -5,528,643 | € -12,703,530 | € -17,978,671 | ▼ € 5.3 million |
| Bank debt | € 10,502,178 | € 16,662,853 | € 17,061,822 | € 20,162,840 | ▲ 18% |
| Balance sheet total | € 16,970,247 | € 17,011,389 | € 9,858,251 | € 6,453,199 | ▼ 35% |
| Employees (FTE) | 87.5 | 84.1 | 81.8 | 61.5 | ▼ 20.3 |
Key figures of VANDEWALLE, 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 VANDEWALLE?
What happened at VANDEWALLE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
VANDEWALLE is active according to the CBE. Legal situation: Opening faillissement.
- Nicolas Rogez stepped down as director. NBB
- Mark Dirckx stepped down as director. NBB
- Xavier Allard stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 5.3 million. Source: NBB ↗
- Nicolas Rogez became a director. NBB
- Natalie Dewulf stepped down as director. NBB
- Mark Dirckx became a director. NBB
- Xavier Allard became a director. NBB
In short
From € 249,651 loss in 2022 to € 5.3 million loss in 2025.
Paid € 16,214 in corporate taxes since 2022.
Pays suppliers within 84 days on average.
Management
The shares are held by ASTARCO (100%).
Directors
According to the 2025 annual accounts
Nicolas Rogez
Chairman of the board
Also active at: ISB BUILDING TECHNICS, EQUANS Services, TECHNICAL EQUIPMENT MAINTENANCE-TECHNILIFT, ELECTRICITEITSWERKEN NUYTS, THERMOCO, GLOBAL SERVICES, PISCINE DE JONFOSSE, Hamaco +1 more
since 2025 · until 2030
since 2024 · until 2030
Xavier Allard
Director
Also active at: ISB BUILDING TECHNICS, Maatschappij voor Ontwikkeling van Ondergrondse Werken, TECHNICAL EQUIPMENT MAINTENANCE-TECHNILIFT, SOCIETE DE GESTION DE LA CITE ADMINISTRATIVE DE L'ETAT A BRUXELLES, ELECTRICITEITSWERKEN NUYTS, THERMOCO, GLOBAL SERVICES, AIRPORT GLOBAL SERVICES +4 more
since 2024 · until 2030
Natalie Dewulf
Chairman of the board
Also active at: EQUANS Services, Maatschappij voor Ontwikkeling van Ondergrondse Werken, TECHNICAL EQUIPMENT MAINTENANCE-TECHNILIFT, EQUANS, SOCIETE DE GESTION DE LA CITE ADMINISTRATIVE DE L'ETAT A BRUXELLES, ELECTRICITEITSWERKEN NUYTS, THERMOCO, GLOBAL SERVICES +5 more
since 2024 · until 2025
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Vlamingveld 51
8490 Jabbeke
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Canonical: https://www.equans.be/nl/over-ons/onze-dochterondernemingen/vandewalle
Technologies
Hosting & Email
Email provider
Self-hosted
Hosting
AMAZON-02 - Amazon.com, Inc., US
DNS
AWS Route 53
Website info
Features
Security
Network
Details
- Company number
- 0441.838.859
- VAT number
- BE 0441.838.859
- Registered office
- Vlamingveld 51, 8490 Jabbeke
- Names & denominations
- VANDEWALLE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Opening faillissement
- Start date
- 13 November 1990
- Peppol
- Not registered
- Contact
- vandewallenv.be
- Activities · NACE
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Installatie van verwarming, klimaatregeling en ventilatie
Sanitaire werkzaamheden
Overig loodgieterswerk