Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 41 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
VRG PROJECTS from Lokeren, company number BE0828319523, closed financial year 2025 with a result of € 861 after tax. For that financial year VRG PROJECTS recorded a gross margin of € 86,140 and equity of € 611,015. Compared with financial year 2024, the result moved from € 2,591 to € 861. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on May 11, 2026.
€ 611,015
▲ 8% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 861
▼ 67% vs 2024
Profit after tax over the fiscal year.
€ 5,097
▲ 84% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 84,400.
People and assets in 2025
€ 3,906
▲ 166% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.1 million
▼ 2% vs 2024
€ 65,976 is repaid this year. At this pace the long-term loan is gone in ≈ 14 years.
€ 13,941
▼ 58% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 22,827
▲ 81% 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 | € 76,997 | € 98,841 | € 85,554 | € 86,140 | ▲ 1% |
| Profit after taxes | € -6,395 | € 8,725 | € 2,591 | € 861 | ▼ 67% |
| Equity | € 506,038 | € 562,762 | € 565,354 | € 611,015 | ▲ 8% |
| Total debts | € 1,237,551 | € 1,242,348 | € 1,143,190 | € 1,119,825 | ▼ 2% |
| Cash | € 11,838 | € 6,720 | € 2,764 | € 5,097 | ▲ 84% |
| Land & buildings | € 1,289,546 | € 1,285,192 | € 1,232,838 | € 1,225,284 | ▼ 1% |
| Retained profit | € 72,223 | € 80,948 | € 83,539 | € 84,400 | ▲ 1% |
| Bank debt | € 1,130,771 | € 1,142,075 | € 1,090,692 | € 1,064,726 | ▼ 2% |
| Balance sheet total | € 1,743,589 | € 1,805,110 | € 1,708,543 | € 1,730,840 | ▲ 1% |
Key figures of VRG PROJECTS, 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 VRG PROJECTS?
What happened at VRG PROJECTS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 861 (▼ 67% vs 2024). Source: NBB ↗
- Guy Verhavert became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Lokeren. KBO
In short
From € 6,395 loss in 2022 to € 861 profit in 2025.
Paid € 10,206 in corporate taxes since 2022.
Best year ever: 2023, with € 8,725 profit.
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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
Behind VRG PROJECTS is Guy Verhavert. Guy Verhavert is also behind BAST, Lo-Build, Lorenda and Gust Groep.
Directors
According to the 2025 annual accounts
since 2021
Establishments
Establishment units
Physical locations of this company
Heirbrugstraat 372
9160 Lokeren
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0828.319.523
- VAT number
- BE 0828.319.523
- Registered office
- Heirbrugstraat 372, 9160 Lokeren
- Names & denominations
- VRG PROJECTS
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 6 August 2010
- Peppol
- Active · Active since 16 Dec 2025
- Activities · NACE
Activiteiten van hoofdkantoren
Activiteiten van holdings
Handelsbemiddeling in de groothandel in andere specifieke goederen
Overige werkzaamheden in verband met de afwerking van gebouwen
Metselwerk
Verhuur en lease van sport- en recreatieartikelen
Holdings
Uitvoeren van metsel- en voegwerken