ACTIVE

CALVET

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Financial year 2025 · closed on 31/12/2025

Net result

1,3 M €

+79.8% YoY

Revenue

44,3 M €

+66.5% YoY

Equity

5,1 M €

+32.6% YoY

Workforce

26,5 ETP

+6.0% YoY

What does CALVET do?

CALVET is a Public limited company incorporated in 1968. Its registered office is in Asse. It employs on average 26,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0400.714.027

Incorporation

01/01/1968

Legal form

Public limited company

Registered office

Z. 1 Researchpark 230
1731 Asse · FlandreSee on map

Contributed capital

119 567,78 €

Latest accounts

31/12/2025

Average workforce

26,5 ETP

Joint committees (3)

14904
200
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	44,3 M €	+66.5%	26,6 M €	-0.2%	26,7 M €	+19.4%	22,3 M €	+15.0%	19,4 M €	+8.3%	17,9 M €	+6.7%	16,8 M €	+3.8%	16,2 M €	+54.2%	10,5 M €	-1.5%	10,7 M €	-6.4%	11,4 M €	+32.1%	8,6 M €	+8.7%	7,9 M €		–		–		–		–		–		–		–
EBITDA	2 M €	+33.4%	1,5 M €	-14.7%	1,8 M €	+197%	599,8 k €	-9.2%	660,5 k €	-19.6%	821,3 k €	+161%	314,9 k €	+16.3%	270,7 k €	-53.9%	587 k €	+125%	260,9 k €	-6.0%	277,6 k €	-22.5%	358,1 k €	+205%	117,3 k €	-63.8%	323,7 k €	-22.4%	417,2 k €	+38.7%	300,8 k €	-29.0%	423,4 k €	+10.8%	382 k €	+119%	174,2 k €	-41.5%	297,8 k €
Operating result	1,6 M €	+77.2%	876,3 k €	-38.2%	1,4 M €	+212%	454,7 k €	-6.6%	486,7 k €	-5.6%	515,8 k €	+155%	201,9 k €	+68.8%	119,6 k €	-0.6%	120,4 k €	+6.6%	112,9 k €	+154%	44,5 k €	-47.5%	84,8 k €	+290%	-44,7 k €	-209%	41,1 k €	-73.5%	155 k €	+5.8%	146,5 k €	-54.3%	320,4 k €	+88.0%	170,5 k €	+169%	63,4 k €	-53.4%	136,2 k €
Net result	1,3 M €	+79.8%	704 k €	-37.8%	1,1 M €	+176%	410,1 k €	-2.7%	421,7 k €	-7.1%	453,7 k €	+210%	146,4 k €	+22.7%	119,3 k €	+149%	48 k €	-15.8%	57 k €	+160%	21,9 k €	-47.7%	41,9 k €	+282%	-23,1 k €	-375%	8,4 k €	-98.7%	668,1 k €	+1701%	37,1 k €	-83.3%	222,4 k €	+62.9%	136,5 k €	-7.0%	146,8 k €	-37.4%	234,5 k €
Balance sheet
Equity	5,1 M €	+32.6%	3,9 M €	+22.2%	3,2 M €	+55.4%	2 M €	+25.1%	1,6 M €	-13.2%	1,9 M €	+35.5%	1,4 M €	-15.4%	1,6 M €	+10.6%	1,5 M €	+3.3%	1,4 M €	+4.1%	1,4 M €	+1.6%	1,4 M €	+3.2%	1,3 M €	-1.7%	1,3 M €	+0.6%	1,3 M €	+46.4%	909,8 k €	+4.3%	872,7 k €	+16.3%	750,4 k €	+6.6%	703,8 k €	+8.8%	647 k €
Total assets	16,8 M €	-18.0%	20,5 M €	+41.7%	14,4 M €	+20.1%	12 M €	+25.0%	9,6 M €	+16.2%	8,3 M €	+8.2%	7,6 M €	+15.7%	6,6 M €	-1.6%	6,7 M €	+44.1%	4,7 M €	+1.7%	4,6 M €	-18.3%	5,6 M €	+2.4%	5,5 M €	-39.8%	9,1 M €	+23.3%	7,4 M €	+81.1%	4,1 M €	+27.1%	3,2 M €	-15.2%	3,8 M €	-7.0%	4,1 M €	+46.5%	2,8 M €
Cash	3,7 M €	+58.0%	2,4 M €	+0.4%	2,3 M €	+48.4%	1,6 M €	+2421%	62,7 k €	-94.5%	1,1 M €	-52.8%	2,4 M €	+294%	615,9 k €	-9.3%	679,2 k €	-4.0%	707,7 k €	+483%	121,5 k €	-70.3%	409,3 k €	+141%	169,9 k €	-81.2%	906 k €	-14.8%	1,1 M €	+303%	264 k €	-52.6%	556,5 k €	+176%	201,4 k €	-68.1%	630,4 k €	+210%	203,5 k €
Debts	10,8 M €	-31.6%	15,7 M €	+57.6%	10 M €	+8.8%	9,2 M €	+29.0%	7,1 M €	+30.8%	5,4 M €	-0.6%	5,5 M €	+27.1%	4,3 M €	-8.2%	4,7 M €	+80.8%	2,6 M €	-7.8%	2,8 M €	-26.9%	3,8 M €	+6.0%	3,6 M €	-49.7%	7,2 M €	+28.5%	5,6 M €	+81.7%	3,1 M €	+48.7%	2,1 M €	-19.5%	2,6 M €	-19.1%	3,2 M €	+63.1%	2 M €
Other
Workforce	26,5 ETP	+6.0%	25,0 ETP	+7.3%	23,3 ETP	-1.7%	23,7 ETP	+4.9%	22,6 ETP	+1.8%	22,2 ETP	+13.3%	19,6 ETP	+4.8%	18,7 ETP	+4.5%	17,9 ETP	-2.7%	18,4 ETP	+14.3%	16,1 ETP	+3.9%	15,5 ETP	-18.4%	19,0 ETP	+2.7%	18,5 ETP	0.0%	18,5 ETP	+6.3%	17,4 ETP	+12.3%	15,5 ETP	-2.5%	15,9 ETP	+12.8%	14,1 ETP	+1.4%	13,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 28 ended

Active mandates

MATLUC

Director · since 06 juin 2025 · until 05 juin 2030 · 0696.840.971

Represented by Nees Stefan

Active

ARKAEL

Managing director · since 06 juin 2024 · until 05 juin 2030 · 0696.840.872

Represented by Nees Pieter

Active

Ended mandates

ARKAEL

Managing director · since 10 septembre 2018 · until 29 mai 2024 · 0696.840.872

Represented by Pieter Nees

Ended

MATLUC

Director · since 10 septembre 2018 · until 29 mai 2024 · 0696.840.971

Represented by Stefan NEES

Ended

ARKAEL

Managing director · since 28 mai 2018 · until 29 mai 2024 · 0696.840.872

Represented by Nees PIETER

Ended

ARKAEL

Managing director · since 28 mai 2018 · 0696.840.872

Represented by Nees PIETER

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
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	09/06/2026	27/08/2025	12/07/2024	26/08/2023	24/06/2022	09/06/2021
General meeting	04/06/2026	26/06/2025	06/06/2024	22/06/2023	02/06/2022	03/06/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	04/06/2026	09/06/2026	Dutch	PDF
Full model	31/12/2024	26/06/2025	27/08/2025	Dutch	PDF
Full model	31/12/2023	06/06/2024	12/07/2024	Dutch	PDF
Full model	31/12/2022	22/06/2023	26/08/2023	Dutch	PDF
Full model	31/12/2021	02/06/2022	24/06/2022	Dutch	PDF
Full model	31/12/2020	03/06/2021	09/06/2021	Dutch	PDF
Full model	31/12/2019	04/06/2020	16/06/2020	Dutch	PDF
Full model	31/12/2018	06/06/2019	13/06/2019	Dutch	PDF
Full model	31/12/2017	07/06/2018	17/07/2018	Dutch	PDF
Full model	31/12/2016	01/06/2017	23/06/2017	Dutch	PDF
Full model	31/12/2015	02/06/2016	07/06/2016	Dutch	PDF
Full model	31/12/2014	30/06/2015	15/07/2015	Dutch	PDF
Full model	31/12/2013	05/06/2014	05/06/2014	Dutch	PDF
Abridged model	31/12/2012	29/03/2013	30/08/2013	Dutch	PDF
Abridged model	31/12/2011	07/06/2012	24/08/2012	Dutch	PDF
Abridged model	31/12/2010	03/06/2011	22/08/2011	Dutch	PDF
Abridged model	31/12/2009	03/06/2010	31/08/2010	Dutch	PDF
Abridged model	31/12/2008	05/06/2009	30/06/2009	Dutch	PDF
Abridged model	31/12/2007	30/06/2008	20/11/2008	Dutch	PDF
Abridged model	31/12/2006	30/06/2007	28/08/2007	Dutch	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 28 ended

Active mandates

MATLUC

Director · since 06 juin 2025 · until 05 juin 2030 · 0696.840.971

Represented by Nees Stefan

Active

ARKAEL

Managing director · since 06 juin 2024 · until 05 juin 2030 · 0696.840.872

Represented by Nees Pieter

Active

Ended mandates

ARKAEL

Managing director · since 10 septembre 2018 · until 29 mai 2024 · 0696.840.872

Represented by Pieter Nees

Ended

MATLUC

Director · since 10 septembre 2018 · until 29 mai 2024 · 0696.840.971

Represented by Stefan NEES

Ended

ARKAEL

Managing director · since 28 mai 2018 · until 29 mai 2024 · 0696.840.872

Represented by Nees PIETER

Ended

ARKAEL

Managing director · since 28 mai 2018 · 0696.840.872

Represented by Nees PIETER

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates18/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/01/2023
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring29/09/2021
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring25/06/2021
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates29/04/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/03/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/10/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/08/2016
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

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

See the Business plan

2025
Annual accounts 20251,3 M €↑
2024
Annual accounts 2024704 k €↓
2023
Annual accounts 20231,1 M €↑
2022
Annual accounts 2022410,1 k €↓
2021
Annual accounts 2021421,7 k €↓
2020
Annual accounts 2020453,7 k €↑
2019
Annual accounts 2019146,4 k €↑
2018
Annual accounts 2018119,3 k €↑
2017
Annual accounts 201748 k €↓
2016
Annual accounts 201657 k €↑
2015
Annual accounts 201521,9 k €↓
2014
Annual accounts 201441,9 k €↑
2013
Annual accounts 2013-23,1 k €↓
2012
Annual accounts 20128,4 k €↓
2011
Annual accounts 2011668,1 k €↑
2010
Annual accounts 201037,1 k €↓
2009
Annual accounts 2009222,4 k €↑
2008
Annual accounts 2008136,5 k €↓
2007
Annual accounts 2007146,8 k €↓
2006
Annual accounts 2006234,5 k €
01/01/1968
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

CALVET

Overview

What does CALVET do?

Trend over 20 financial years

Indicative valuation

Board of directors

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