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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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Busy address KBO
99 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
FLANDERS DREDGING CORPORATION from Aalst, company number BE0451192431, closed financial year 2025 with a result of € -29.5 million after tax. For that financial year FLANDERS DREDGING CORPORATION recorded revenue of € 94.7 million and equity of € 79.9 million. Compared with financial year 2024, the result moved from € 21 million to € -29.5 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 July 15, 2026.
€ 79.9 million
▼ 27% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -29.5 million
▼ still € 21 million profit in 2024
Profit after tax over the fiscal year.
€ 4.8 million
▲ 74% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 69.9 million.
People and assets in 2025
€ 5,544
▼ 38% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 51 million
▲ 25% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 176 days on average.
€ 695,944
▼ 78% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 100,994,659 | € 92,108,253 | € 131,814,986 | € 94,673,344 | ▼ 28% |
| Profit after taxes | € 14,020,940 | € 16,516,269 | € 21,022,073 | € -29,547,495 | ▼ € 50.6 million |
| Equity | € 103,391,915 | € 105,908,184 | € 109,430,257 | € 79,882,762 | ▼ 27% |
| Total debts | € 31,352,853 | € 53,494,082 | € 69,030,757 | € 58,916,361 | ▼ 15% |
| Cash | € 1,101,634 | € 3,058,895 | € 2,761,960 | € 4,815,065 | ▲ 74% |
| Retained profit | € 93,406,614 | € 95,922,884 | € 99,444,957 | € 69,897,462 | ▼ 30% |
| Dividend | € 0 | € 14,000,000 | € 17,500,000 | € 0 | ▼ 100% |
| Balance sheet total | € 137,484,114 | € 163,229,988 | € 182,705,546 | € 149,995,998 | ▼ 18% |
| Employees (FTE) | 1.4 | 0.7 | - | - |
Key figures of FLANDERS DREDGING CORPORATION, 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 FLANDERS DREDGING CORPORATION?
What happened at FLANDERS DREDGING CORPORATION in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 29.5 million (▼ € 50.6 million vs 2024). Source: NBB ↗
- JKN Consult BV stepped down as director. NBB
- Paul Lievens stepped down as director. NBB
- JDN BV stepped down as director. NBB
- Jan De Nul NV stepped down as director. NBB
- JDN BV became a director. NBB
- JKN Consult BV became a director. NBB
- Paul Lievens became a director. NBB
In short
From € 14 million profit in 2022 to € 29.5 million loss in 2025.
Paid € 7.4 million in corporate taxes since 2022.
Best year ever: 2024, with € 21 million profit.
Paid out € 31.5 million in dividends to the owners in total.
A new publication or filing at FLANDERS DREDGING CORPORATION? 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
It owns 41.4% of ARENAS ARGENTINAS DEL PARANA SA, 20% of D & R JDN Nigeria and 10% of CANAL DE GUAYAQUIL CGU SA itself.
Directors
According to the 2025 annual accounts
Director · represented by Jan Neckebroeck
Also active at: DOCK-SITE, Algemene Ondernemingen Soetaert, Jan De Nul, Jan De Nul Dredging, MEST EN AFVALVERWERKING, Envisan, AIRCOPLUS, SCK INVEST +1 more
since 2025 · until 2026
Paul Lievens
Director
Also active at: Lummerzheim & Co, Jan De Nul, Jan De Nul Dredging, MEST EN AFVALVERWERKING, Envisan, SCK INVEST, PSR, Meurop 2020 +13 more
since 2020 · until 2026
Managing director · represented by Julie De Nul
Also active at: DOCK-SITE, Lummerzheim & Co, LAMBRECHTS, Algemene Ondernemingen Soetaert, Jan De Nul, Jan De Nul Dredging, Envisan, AIRCOPLUS +17 more
since 2026 · until 2026
Managing director · represented by Jan Pieter Ir De Nul
Also active at: DOCK-SITE, Lummerzheim & Co, LAMBRECHTS, Algemene Ondernemingen Soetaert, VZW EMBUILD OOST-VLAANDEREN - Algemene Aannemers, Jan De Nul Dredging, MEST EN AFVALVERWERKING, Envisan +19 more
since 2020 · until 2026
Establishments
Establishment units
Physical locations of this company
Tragel 60
9308 Aalst
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 99 companies are registered at this address.
All companies at this address →DOCK-SITE same network
€ 1.5 million gross margin · 2025
Lummerzheim & Co same network
€ 4.5 million gross margin · 2025
LAMBRECHTS same network
€ -5,255 gross margin · 2025
Jan De Nul same network
€ 1.7 billion revenue · 2025
Jan De Nul Dredging same network
€ 70.4 million revenue · 2025
+94 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0451.192.431
- VAT number
- BE 0451.192.431
- Registered office
- Tragel 60, 9308 Aalst
- Names & denominations
- FLANDERS DREDGING CORPORATION · Vlaamse Bagger Maatschappij
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 29 October 1993
- Peppol
- Active · Active since 13 Jun 2025
- Activities · NACE
Waterbouw, muv baggerwerken
Overige waterbouw
Baggerwerken