How much does VG Mso Ltd make?

VG Mso Ltd reported revenue of £22.5m and £1.7m profit in the year to 31 Dec 2025, according to its accounts filed at Companies House.

How many employees does VG Mso Ltd have?

VG Mso Ltd reported an average of 167 employees in the year to 31 Dec 2025.

Is VG Mso Ltd profitable?

Yes — VG Mso Ltd reported a profit of £1.7m in the year to 31 Dec 2025.

Company No. NI015669 · Incorporated 30 Mar 1982

VG Mso Ltd

Registered name: VG MSO LTD

Part of VG Cartoncare Ltd group

VG Mso Ltd made £22.5m revenue and £1.7m profit in the year to 31 Dec 2025.

VG Mso Ltd’s revenue grew 8% to £22.5m in the year to 31 Dec 2025, with £1.7m profit and 167 employees. The company is classified under “manufacture of printed labels” and is based in Belfast; we hold 4 years of its filed accounts.

Full P&L filedSection C · ManufacturingSIC 18121Manufacture of printed labels SIC 18129Printing n.e.c.

Status: Active
Location: Belfast, Northern Ireland
Age: 44 yrs · since 1982
Type: Private Limited Company

Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently. From the filing: “Van Genechten NV”

Latest accounts · year to 31 Dec 2025

Key figures

Operating leverage

Revenue

£22.5m

Growth ▲7.6%

Profit

£1.7m

Growth ▲288.8%

Profit margin

7.7%

Gross 31%

Employees

167

Change ▲3.1%

Profit / employee

£10.4k

Revenue/employee £135k

Profitable streak

4yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

4 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2022	31 Dec 2023	31 Dec 2024	31 Dec 2025
Disclosure	Full P&L	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£22.5m	£21.5m	£20.9m	£22.5m
Cost of sales	£16m	£15m	£14.9m	£15.5m
Gross profit	£6.5m	£6.5m	£6m	£7m
Operating profit	£1.8m	£1.4m	£763k	£2m
Profit before tax	£1.4m	£1m	£533k	£1.9m
Profit after tax	£1.2m	£854k	£448k	£1.7m
Profit (best available)	£1.2m	£854k	£448k	£1.7m
Staff costs	£5.7m	£5.7m	£6.3m	£7m
Employees (average)	165	160	162	167
Ratios
Profit margin	5.3%	4%	2.1%	7.7%
Gross margin	29%	30%	28.8%	31%
Revenue per employee	£137k	£134k	£129k	£135k
Profit per employee	£7.2k	£5.3k	£2.8k	£10.4k
Growth (year on year)
Revenue growth	—	▼4.7%	▼2.6%	▲7.6%
Profit growth	—	▼28.2%	▼47.6%	▲288.8%
Headcount growth	—	▼3%	▲1.3%	▲3.1%
Balance sheet — indirect signals, not revenue
Cash at bank	£3.2m	£4.7m	£784k	£402k
Net assets	£4.3m	£5.2m	£5.6m	£7.3m
Fixed assets	£6.9m	£6m	£5.4m	£4.7m
Current assets	£11.2m	£10.7m	£8.2m	£9.9m
Debtors	£4.1m	£4.1m	£4.8m	£5.3m
Deferred income	£531k	£539k	£717k	£833k
Source	FullAccounts · bulk data Sep 2024	FullAccounts · bulk data Sep 2024	FullAccounts · bulk data Sep 2025	FullAccounts · bulk data Sep 2026

Derived from the latest filing

How the business works

Profit margin: 7.7%; Profit ÷ revenue.
Gross margin: 31%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £135k; Revenue ÷ average employees.
Profit per employee: £10.4k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 20.9%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 3.7%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 23.5%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

Balance-sheet signals

Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.

Net assets: ▲31%; Now £7.3m
Cash at bank: ▼49%; Now £402k
Headcount: ▲3%; Now 167
Deferred income: ▲16%; Now £833k
Fixed assets: ▼12%; Now £4.7m

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

Corporate ownership

Group structure

Ownership chain

VG Cartoncare Ltdultimate parent75–100%
VG Mso Ltdthis company

Bands show the share of ownership each company holds in the one below it.

Subsidiaries (1)

Mso Propco LimitedLiquidationFigures not disclosed

Sister companies (1)

VG Pendragon LtdFigures not disclosed

From the Persons with Significant Control register (corporate controllers only).

Same industry, similar size

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2025 (profit £1.7m), from the Companies House accounts bulk data published Sep 2026. Spotted an error? Request a correction.

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.