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 2 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 48 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 101.6 to 71.7.
Financials
Financial year 2025
Velleman Group from Gavere, company number BE0768858127, closed financial year 2025 with a result of € -5.6 million after tax. For that financial year Velleman Group recorded revenue of € 21.1 million and equity of € -8.9 million. Compared with financial year 2024, the result moved from € -3.5 million to € -5.6 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 30, 2026.
€ -8.9 million
▼ € 5.6 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -5.6 million
▼ 58 % more loss than in 2024
Profit after tax over the fiscal year.
€ 1.5 million
▲ 33% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -10.3 million.
People and assets in 2025
71.7
▼ 14 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 5.2 million
▼ 10% vs 2024
€ 73,000 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.
€ 889
▼ 90% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 3.7 million
▼ 64% vs 2024
€ 226,000 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 5 million
▼ 38% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 105 days on average.
€ 630,139
▼ 47% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 32,597,882 | € 28,746,407 | € 26,421,888 | € 21,116,382 | ▼ 20% |
| Profit after taxes | € -889,769 | € -2,654,719 | € -3,516,713 | € -5,558,524 | ▼ € 2 million |
| Equity | € 2,874,051 | € 213,222 | € -3,303,491 | € -8,862,015 | ▼ € 5.6 million |
| Total debts | € 23,854,584 | € 22,174,946 | € 20,116,284 | € 9,585,524 | ▼ 52% |
| Cash | € 2,247,455 | € 1,324,431 | € 1,140,344 | € 1,521,208 | ▲ 33% |
| Land & buildings | € 34,385 | € 39,839 | € 37,602 | - | |
| Retained profit | € 1,421,457 | € -1,233,262 | € -4,749,975 | € -10,308,499 | ▼ € 5.6 million |
| Bank debt | € 9,396,525 | € 10,466,310 | € 10,405,947 | € 3,729,072 | ▼ 64% |
| Balance sheet total | € 26,933,635 | € 22,489,868 | € 16,914,493 | € 5,408,072 | ▼ 68% |
| Employees (FTE) | 108.1 | 101.6 | 85.7 | 71.7 | ▼ 14 |
Key figures of Velleman Group, 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 Velleman Group?
What happened at Velleman Group in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- GUCY MANAGEMENT BV stepped down as director. NBB
- ENJOY Real Estate BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 5.6 million. Source: NBB ↗
- GUCY MANAGEMENT BV became a director. NBB
- ENJOY Real Estate BV became a director. NBB
- New establishment in Gavere. KBO
- Start of the company according to the CBE. KBO
In short
From € 889,769 loss in 2022 to € 5.6 million loss in 2025.
Paid € 25,726 in corporate taxes since 2022.
Pays suppliers within 105 days on average.
A new publication or filing at Velleman Group? 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 MAXINTER, ENJOY Real Estate comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Velleman GroupThe shares are held by MAXINTER (100%) and ENJOY Real Estate (100%). It owns 100% of Velleman Component China, 100% of Velleman Spain and 100% of Velleman Hong Kong itself.
Directors
According to the 2025 annual accounts
Director · represented by Cynthia Cornelissen
Also active at: Pacauto, CONTIMEX EUROPE, Ronac, ASIST, ASIST 2.0, PACAUTO IMMO, ENJOY Real Estate, GCV Management
since 2025 · until 2030
Director · represented by Guido Verswijvel
since 2025 · until 2030
Shareholders
100%
100%
Participations
Velleman Component China
100%
Velleman Spain
100%
Velleman Hong Kong
100%
Establishments
Establishment units
Physical locations of this company
Legen Heirweg 33
9890 Gavere
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0768.858.127
- VAT number
- BE 0768.858.127
- Registered office
- Legen Heirweg 33, 9890 Gavere
- Names & denominations
- Velleman Group
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 May 2021
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Groothandel in elektrisch materiaal, inclusief installatiemateriaal