ACTIVE

CIPAL

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Financial year 2025 · Closed on 31/12/2025

Net result441,4 k €-77,7 %over 1 year

Revenue2,6 M €-32,0 %over 1 year

Equity16,2 M €+2,8 %over 1 year

Workforce19,8 ETP-14,7 %over 1 year

Identity

Source · BCE/KBO

CIPAL is a Services provider organization, Flemish Region incorporated in 1979. Its main activity is: Computer consultancy activities. Its registered office is in Geel. It employs on average 19,8 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0219.395.192
Incorporation: 13/02/1979
Legal form: Services provider organization, Flemish Region
Registered office: Cipalstraat 3
2440 Geel · FlandreSee on map
Contributed capital: 1 069 000,00 €
Latest accounts: 31/12/2025
Average workforce: 19,8 ETP

Activities (NACE)

62020Computer consultancy activities· main 62200Computer programming, consultancy and related activities 63100Data processing, hosting and related activities; web portals 63110Data processing, hosting and related activities 72300Scientific research and development

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowHealthy social debtsHigh revenue

Financials

Source · NBB, 35 filings

Trend over 8 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	2,6 M €	-32.0%	3,8 M €	-35.5%	5,8 M €	+16.5%	5 M €	+2.9%	4,9 M €
EBITDA	-2 M €	-1.0%	-2 M €	-195%	-668 k €	-275%	381,9 k €	+527%	-89,5 k €
Operating result	-2,1 M €	-41.9%	-1,5 M €	-120%	-663,3 k €	+96.0%	-16,7 M €	-1202%	-1,3 M €
Net result	441,4 k €	-77.7%	2 M €	+202%	656 k €	+104%	-16,6 M €	-2122%	823,2 k €
Balance sheet
Equity	16,2 M €	+2.8%	15,8 M €	-0.3%	15,8 M €	+4.3%	15,2 M €	+46.7%	10,3 M €
Total assets	52,9 M €	-0.0%	52,9 M €	-4.5%	55,4 M €	+0.0%	55,4 M €	+59.0%	34,8 M €
Cash	5,1 M €	-48.8%	9,9 M €	+53.3%	6,5 M €	+0.9%	6,4 M €	+53.3%	4,2 M €
Debts	4,3 M €	-4.4%	4,5 M €	-24.0%	5,9 M €	-3.5%	6,1 M €	-13.5%	7 M €
Other
Workforce	19,8 ETP	-14.7%	23,2 ETP	+0.9%	23,0 ETP	-3.4%	23,8 ETP	-1.2%	24,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

27 active · 79 ended

Active mandates

Brughmans Bart

Director · since 31 mars 2025 · until 30 mars 2031

Active

Charlotte Beyers

Director · since 31 mars 2025 · until 30 mars 2031

Active

Dieter Wijckmans

Director · since 31 mars 2025 · until 30 mars 2031

Active

Dymfna Meynen

Director · since 31 mars 2025 · until 30 mars 2031

Active

Inge Van Goubergen

Vice-chairman of the board of directors · since 31 mars 2025 · until 30 mars 2031

Active

Johan Sauwens

Chairman of the board of directors · since 31 mars 2025 · until 30 mars 2031

Active

Kelly Verheyen

Director · since 31 mars 2025 · until 30 mars 2031

Active

Pietro Iacopucci

Director · since 31 mars 2025 · until 30 mars 2031

Active

Ronald Slootmans

Director · since 31 mars 2025 · until 30 mars 2031

Active

Sven Pletincx

Director · since 31 mars 2025 · until 30 mars 2031

Active

Tine Paredis

Director · since 31 mars 2025 · until 30 mars 2031

Active

Peter Nies

Director · since 25 janvier 2024 · until 30 mars 2031

Active

Vandromme Jeroen

Director · since 23 juin 2022 · until 30 mars 2031

Active

Peter Prévot

Director · since 28 novembre 2019 · until 31 mars 2025

Active

Dieter Mannaert

Director · since 22 mars 2019 · until 30 mars 2031

Active

Francis Stijnen

Director · since 22 mars 2019 · until 31 mars 2025

Active

Greet Geypen

Vice-chairman of the board of directors · since 22 mars 2019 · until 31 mars 2025

Active

Heidi Thijs

Director · since 22 mars 2019 · until 31 mars 2025

Active

Jan Moons

Director · since 22 mars 2019 · until 31 mars 2025

Active

Karolien Eens

Director · since 22 mars 2019 · until 31 mars 2025

Active

Koen Paredaens

Director · since 22 mars 2019 · until 31 mars 2025

Active

Lawrence Vancraeyenest

Vice-chairman of the board of directors · since 22 mars 2019 · until 30 mars 2031

Active

Lieven Janssens

Director · since 22 mars 2019 · until 31 mars 2025

Active

Lore Fourie

Director · since 22 mars 2019 · until 31 mars 2025

Active

Paul Verbeeck

Chairman of the board of directors · since 22 mars 2019 · until 31 mars 2025

Active

Sien Jacques

Director · since 22 mars 2019 · until 31 mars 2025

Active

Sofie Vandeweerd

Vice-chairman of the board of directors · since 22 mars 2019 · until 30 mars 2031

Active

Ended mandates

Dymfna Meynen

Director · since 31 mars 2025 · until 30 mars 2031

Ended

Peter Nies

Director · since 25 janvier 2024 · until 21 mars 2025

Ended

Vandromme Jeroen

Director · since 23 juin 2022 · until 21 mars 2025

Ended

Peter Prévot

Director · since 28 novembre 2019 · until 21 mars 2025

Ended

Other companies at this address

Cipalstraat 3 2440 Geel

Company	CBE no.
CIPAL● Active	0442.802.030
Magics Technologies● Active	0634.891.526
RideOnTrack● Active	0845.290.761
SC ONE● Active	1028.159.220
Stichting Magics Technologies● Active	1028.264.831
TSS Belgium● Active	1037.665.913
Vriendenkring Cipal Schaubroeck● Active	0439.537.781

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Consolidated accounts
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	15/07/2026	14/07/2025	17/07/2024	11/07/2023	12/07/2022	15/07/2021
General meeting	25/06/2026	24/06/2025	20/06/2024	22/06/2023	23/06/2022	24/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 35 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	25/06/2026	15/07/2026	Dutch	PDF
Full model	31/12/2024	24/06/2025	14/07/2025	Dutch	PDF
Consolidated accounts	31/12/2024	24/06/2025	14/07/2025	Dutch	PDF
Full model	31/12/2023	20/06/2024	17/07/2024	Dutch	PDF
Consolidated accounts	31/12/2023	—	17/07/2024	Dutch	PDF
Full model	31/12/2022	22/06/2023	11/07/2023	Dutch	PDF
Consolidated accounts	31/12/2022	22/06/2023	11/07/2023	Dutch	PDF
Full model	31/12/2021	23/06/2022	12/07/2022	Dutch	PDF
Consolidated accounts	31/12/2021	23/06/2022	12/07/2022	Dutch	PDF
Full model	31/12/2020	24/06/2021	09/07/2021	Dutch	PDF
Consolidated accounts	31/12/2020	24/06/2021	15/07/2021	Dutch	PDF
Full model	31/12/2019	25/06/2020	22/07/2020	Dutch	PDF
Consolidated accounts	31/12/2019	25/06/2020	22/07/2020	Dutch	PDF
Full model	31/12/2018	27/06/2019	29/07/2019	Dutch	PDF
Consolidated accounts	31/12/2018	27/06/2019	29/07/2019	Dutch	PDF
Full model	31/12/2017	15/06/2018	06/07/2018	Dutch	PDF
Consolidated accounts	31/12/2017	15/06/2018	06/07/2018	Dutch	PDF
Full model	31/12/2016	16/06/2017	18/07/2017	Dutch	PDF
Consolidated accounts	31/12/2016	16/06/2017	18/07/2017	Dutch	PDF
Full model	31/12/2015	17/06/2016	24/08/2016	Dutch	PDF
Consolidated accounts	31/12/2015	17/06/2016	24/08/2016	Dutch	PDF
Full model	31/12/2014	12/06/2015	23/06/2015	Dutch	PDF
Consolidated accounts	31/12/2014	12/06/2015	23/06/2015	Dutch	PDF
Full model	31/12/2013	13/06/2014	23/06/2014	Dutch	PDF
Consolidated accounts	31/12/2013	13/06/2014	23/06/2014	Dutch	PDF
Full model	31/12/2012	14/06/2013	25/06/2013	Dutch	PDF
Consolidated accountsCorrection	31/12/2012	14/06/2013	13/03/2014	Dutch	PDF
Consolidated accounts	31/12/2012	14/06/2013	25/06/2013	Dutch	PDF
Full model	31/12/2011	15/06/2012	02/07/2012	Dutch	PDF
Consolidated accounts	31/12/2011	15/06/2012	02/07/2012	Dutch	PDF
Full model	31/12/2010	24/06/2011	11/08/2011	Dutch	PDF
Full model	31/12/2009	11/06/2010	09/07/2010	Dutch	PDF
Full model	31/12/2008	12/06/2009	06/07/2009	Dutch	PDF
Full model	31/12/2007	13/06/2008	09/07/2008	Dutch	PDF
Full model	31/12/2006	15/06/2007	03/07/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Board of directors

Source · NBB, accounts to 31/12/2025

27 active · 79 ended

Active mandates

Brughmans Bart

Director · since 31 mars 2025 · until 30 mars 2031

Active

Charlotte Beyers

Director · since 31 mars 2025 · until 30 mars 2031

Active

Dieter Wijckmans

Director · since 31 mars 2025 · until 30 mars 2031

Active

Dymfna Meynen

Director · since 31 mars 2025 · until 30 mars 2031

Active

Inge Van Goubergen

Vice-chairman of the board of directors · since 31 mars 2025 · until 30 mars 2031

Active

Johan Sauwens

Chairman of the board of directors · since 31 mars 2025 · until 30 mars 2031

Active

Kelly Verheyen

Director · since 31 mars 2025 · until 30 mars 2031

Active

Pietro Iacopucci

Director · since 31 mars 2025 · until 30 mars 2031

Active

Ronald Slootmans

Director · since 31 mars 2025 · until 30 mars 2031

Active

Sven Pletincx

Director · since 31 mars 2025 · until 30 mars 2031

Active

Tine Paredis

Director · since 31 mars 2025 · until 30 mars 2031

Active

Peter Nies

Director · since 25 janvier 2024 · until 30 mars 2031

Active

Vandromme Jeroen

Director · since 23 juin 2022 · until 30 mars 2031

Active

Peter Prévot

Director · since 28 novembre 2019 · until 31 mars 2025

Active

Dieter Mannaert

Director · since 22 mars 2019 · until 30 mars 2031

Active

Francis Stijnen

Director · since 22 mars 2019 · until 31 mars 2025

Active

Greet Geypen

Vice-chairman of the board of directors · since 22 mars 2019 · until 31 mars 2025

Active

Heidi Thijs

Director · since 22 mars 2019 · until 31 mars 2025

Active

Jan Moons

Director · since 22 mars 2019 · until 31 mars 2025

Active

Karolien Eens

Director · since 22 mars 2019 · until 31 mars 2025

Active

Koen Paredaens

Director · since 22 mars 2019 · until 31 mars 2025

Active

Lawrence Vancraeyenest

Vice-chairman of the board of directors · since 22 mars 2019 · until 30 mars 2031

Active

Lieven Janssens

Director · since 22 mars 2019 · until 31 mars 2025

Active

Lore Fourie

Director · since 22 mars 2019 · until 31 mars 2025

Active

Paul Verbeeck

Chairman of the board of directors · since 22 mars 2019 · until 31 mars 2025

Active

Sien Jacques

Director · since 22 mars 2019 · until 31 mars 2025

Active

Sofie Vandeweerd

Vice-chairman of the board of directors · since 22 mars 2019 · until 30 mars 2031

Active

Ended mandates

Dymfna Meynen

Director · since 31 mars 2025 · until 30 mars 2031

Ended

Peter Nies

Director · since 25 janvier 2024 · until 21 mars 2025

Ended

Vandromme Jeroen

Director · since 23 juin 2022 · until 21 mars 2025

Ended

Peter Prévot

Director · since 28 novembre 2019 · until 21 mars 2025

Ended

Ownership and network

Looking for more information about this company?

Try for free

Belgian Official Gazette publications

Source · Belgian Official Gazette

Other23/09/2026
—
PDF
Mandates09/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares02/09/2024
KAPITAAL - AANDELEN
PDF
Restructuring31/07/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
PDF
Registered office13/03/2024
MAATSCHAPPELIJKE ZETEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates29/01/2019
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN
PDF
Mandates11/07/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/01/2018
ONTSLAGEN - BENOEMINGEN - DIVERSEN
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

2025
Annual accounts 2025441,4 k €↓
03/04/2025
nominationJohan Sauwens — Voorzitter
03/04/2025
nominationLawrence Vancraeyenest — Eerste ondervoorzitter (en secretaris)
03/04/2025
nominationSofie Vandeweerd — Tweede ondervoorzitter
03/04/2025
nominationInge Van Goubergen — Derde ondervoorzitter
31/03/2025
nominationBart Brughmans — bestuurder
31/03/2025
nominationPietro Iacopucci — bestuurder
31/03/2025
nominationDieter Mannaert — bestuurder
31/03/2025
nominationDymfna Meynen — bestuurder
31/03/2025
nominationPeter Nies — bestuurder
31/03/2025
nominationTine Paredis — bestuurder
31/03/2025
nominationSven Pletincx — bestuurder
31/03/2025
nominationJohan Sauwens — bestuurder
31/03/2025
nominationRonny Slootmans — bestuurder
31/03/2025
nominationLawrence Vancraeyenest — bestuurder
31/03/2025
nominationSofie Vandeweerd — bestuurder
31/03/2025
nominationJeroen Vandromme — bestuurder
31/03/2025
nominationInge Van Goubergen — bestuurder
31/03/2025
nominationKelly Verheyen — bestuurder
31/03/2025
nominationDieter Wijckmans — bestuurder
2024
Annual accounts 20242 M €↑
2023
Annual accounts 2023656 k €↑
2022
Annual accounts 2022-16,6 M €↓
2021
Annual accounts 2021823,2 k €↑
2021
Name changeCipal DV
2020
Annual accounts 2020-45,3 k €↑
2012
Annual accounts 2012-281,5 k €↓
2010
Annual accounts 2010956,9 k €
2010
Name changeCIPAL
13/02/1979
IncorporationServices provider organization, Flemish Region

CIPAL

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline

Timeline