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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
13 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
VPK SERVICES from Dendermonde, company number BE0464538245, closed financial year 2025 with a result of € 6.5 million after tax. For that financial year VPK SERVICES recorded revenue of € 1.5 million and equity of € 158.9 million. Compared with financial year 2024, the result moved from € 9.1 million to € 6.5 million. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 10, 2026.
€ 158.9 million
▲ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 6.5 million
▼ 29% vs 2024
Profit after tax over the fiscal year.
€ 63.8 million
▼ 22% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 5 million paid out
77 % of the profit went to the shareholders, mostly to VPK Group NV (84 % of the shares). That is where the money ends up.
People and assets in 2025
45.4
▲ 6.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 4.6 million
▲ 31% vs 2024
€ 100,400 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.
€ 3,522
▼ 40% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 326.3 million
▲ 7% vs 2024
€ 25 million is repaid this year. At this pace the long-term loan is gone in ≈ 11 years.
€ 405,129
▼ 58% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 33 days on average.
€ 892,892
▼ 15% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 1,675,944 | € 1,376,302 | € 1,475,908 | € 1,476,387 | |
| Profit after taxes | € -4,490,567 | € 7,802,027 | € 9,064,506 | € 6,468,498 | ▼ 29% |
| Equity | € 145,571,980 | € 148,374,007 | € 157,438,513 | € 158,907,012 | ▲ 1% |
| Total debts | € 493,217,779 | € 518,763,184 | € 415,725,962 | € 421,083,949 | ▲ 1% |
| Cash | € 185,919,280 | € 119,236,257 | € 81,918,135 | € 63,838,933 | ▼ 22% |
| Retained profit | € 140,571,980 | € 143,374,007 | € 152,438,513 | € 153,907,012 | ▲ 1% |
| Dividend | € 0 | € 5,000,000 | € 0 | € 5,000,000 | |
| Bank debt | € 372,289,790 | € 339,136,131 | € 304,671,133 | € 326,279,624 | ▲ 7% |
| Balance sheet total | € 638,789,759 | € 667,137,191 | € 573,164,476 | € 579,990,961 | ▲ 1% |
| Employees (FTE) | 37.2 | 36.9 | 39.2 | 45.4 | ▲ 6.2 |
Key figures of VPK SERVICES, 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 VPK SERVICES?
What happened at VPK SERVICES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- VPK Group NV stepped down as director. NBB
- VPK Packaging SAS stepped down as director. NBB
- Fincopro BV stepped down as director. NBB
- Uni-Par NV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 6.5 million (▼ 29% vs 2024). Source: NBB ↗
- VPK Packaging SAS became a director. NBB
- VPK Group NV became a director. NBB
- Fincopro BV became a director. NBB
In short
From € 4.5 million loss in 2022 to € 6.5 million profit in 2025.
Paid € 6.4 million in corporate taxes since 2022.
Best year ever: 2024, with € 9.1 million profit.
Paid out € 10 million in dividends to the owners in total.
Management
The shares are held by VPK Group NV (83.9%) and VPK Packaging SAS (16.1%).
Directors
According to the 2025 annual accounts
Director · represented by Denis Zenner
since 2022 · until 2028
VPK Packaging SAS
Director · represented by Patrick Leclercq
since 2024 · until 2028
Director · represented by Erik Peeters
Also active at: COREX Belgium, IMMOWELL, ARGON, ECOFORMER, SMART PACKAGING SOLUTIONS, Febex Invest, COREX HOLDING, VPK FINANCE
since 2022 · until 2028
Managing director · represented by Pierre Macharis
Also active at: VPK Paper, VPK PACKAGING, SIHOLD, VPK FINANCE, SUNPACK
since 2022 · until 2028
Shareholders
83.9%
VPK Packaging SAS
16.1%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Oude baan (OUD) 120
9200 Dendermonde
Kareelstraat 108
9300 Aalst
Active since 1 January 2015
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 13 companies are registered at this address.
All companies at this address →VPK Group same network
IMMOWELL same network
€ 380,657 gross margin · 2025
ECOFORMER same network
€ 1.6 million gross margin · 2025
Sociaal Fonds VPK
VPK Paper same network
€ 222.8 million revenue · 2025
+8 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
- 0464.538.245
- VAT number
- BE 0464.538.245
- Registered office
- Oude baan (OUD) 120, 9200 Dendermonde
- Names & denominations
- VPK SERVICES
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 6 November 1998
- Peppol
- Active · Active since 17 Nov 2025
- Activities · NACE
Activiteiten van hoofdkantoren
Coördinatiecentra
Overige zakelijke dienstverlening, n.e.g.
Overige zakelijke dienstverlening, neg