Financial performance

In 2025, the Group’s consolidated turnover rose to a new high of €1,629 million (2024: €1,543 million), an increase of 5.6%. As is usual for our businesses, a major proportion of the increase in turnover can be attributed to price increases driven by inflation correction and collective labour agreements, particularly at our core companies. In addition to these known effects, revenue growth in 2025 was also positively affected by a strong performance of the cleaning activities in the Netherlands and Belgium, and Vebego Facility Solutions in the Netherlands.

Operating expenses in 2025 were impacted by salary increases in accordance with the applicable collective labour agreements (CLA). In addition, incidental reorganisation costs were recognised during the year. This contributed to making the company future-ready and will help us to successfully execute our strategy towards 2030.

The net result in 2025 was an improvement over the previous year, at €33.9 million (2024: €7.6 million), representing a return of 2.1% (2024: 0.5%), largely driven by the sale of Reflex Healthcare People and the sale of the majority of the shares in Altrio Group and lower Group expenditure as we have finalised the biggest part of the Designing our Future restructuring programme. The performance of our core companies improved compared to 2024, reflecting the positive impact of the transformation we have completed, particularly in Belgium and the Netherlands. This was partly offset by a weaker result in Germany due to challenging market conditions.