VZW means non-profit association
It is a Belgian legal form that we do not really know in the Netherlands, in the Netherlands we have just the association. An association may make a profit, but may not pay it. Profit made must be used for a purpose (purpose of the association, knowledge sharing, charity, etc.) An association is formed by members (who do not need to be natural persons, but can also be legal persons as companies). The members have an influence on the purpose of the association. The Board of the association is in charge of the daily course of business.