ACTIVE

LDV/United

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Financial year 2025 · closed on 31/12/2025

Net result

-745,4 k €

+23.4% YoY

Revenue

5,9 M €

-12.9% YoY

Equity

1,1 M €

-15.5% YoY

Workforce

22,7 ETP

-22.8% YoY

What does LDV/United do?

LDV/United is a Public limited company incorporated in 1957. Its main activity is: Advertising agencies. Its registered office is in Antwerpen. It employs on average 22,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0403.495.353

Incorporation

30/12/1957

Legal form

Public limited company

Registered office

Rijnkaai 100 box A15
2000 Antwerpen · FlandreSee on map

Contributed capital

2 421 596,00 €

Latest accounts

31/12/2025

Average workforce

22,7 ETP

Activities (NACE)

73110Advertising agencies· main 73110Advertising agencies 74401Other professional, scientific and technical activities

Joint committees (3)

Signals

Solid equityGood liquidityHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	5,9 M €	-12.9%	6,7 M €	-7.6%	7,3 M €	-21.1%	9,2 M €	+10.4%	8,3 M €	-28.0%	11,6 M €	-9.2%	12,8 M €	+5.8%	12,1 M €	+28.1%	9,4 M €	+7.2%	8,8 M €	-9.1%	9,7 M €	+10.6%	8,7 M €	-8.3%	9,5 M €	+60.6%	5,9 M €	+4.1%	5,7 M €	-16.3%	6,8 M €	-21.9%	8,7 M €	-10.4%	9,7 M €	-8.1%	10,6 M €
EBITDA	-608,3 k €	+30.5%	-875,4 k €	-19.0%	-735,9 k €	-290%	387,1 k €	-21.3%	491,7 k €	+14.2%	430,5 k €	-56.8%	995,5 k €	+12.0%	888,8 k €	+20.5%	737,4 k €	-13.8%	855,7 k €	+1.0%	847,4 k €	+7.8%	786,1 k €	-26.4%	1,1 M €	+185%	374,5 k €	+546%	58 k €	-48.3%	112,3 k €	+181%	-138,4 k €	+64.2%	-386,9 k €	+67.4%	-1,2 M €
Operating result	-707,3 k €	+27.1%	-969,9 k €	-18.5%	-818,6 k €	-375%	297,9 k €	-12.8%	341,7 k €	+12.8%	302,9 k €	-65.3%	873,5 k €	+9.0%	801,1 k €	+20.6%	664,1 k €	-14.2%	773,6 k €	-0.5%	777,7 k €	+6.1%	733,1 k €	-29.1%	1 M €	+200%	344,3 k €	+660%	45,3 k €	-46.5%	84,7 k €	+131%	-271,6 k €	+46.7%	-509,6 k €	+63.0%	-1,4 M €
Net result	-745,4 k €	+23.4%	-973,2 k €	-32.5%	-734,6 k €	-490%	188,2 k €	+24.1%	151,6 k €	+27.0%	119,4 k €	-77.6%	532,5 k €	+16.6%	456,9 k €	+19.5%	382,4 k €	-16.1%	455,6 k €	-15.5%	539,4 k €	-21.4%	685,8 k €	-30.9%	992,7 k €	+194%	337,3 k €	+955%	32 k €	-65.8%	93,6 k €	+204%	-89,7 k €	+73.1%	-333,7 k €	+73.7%	-1,3 M €
Balance sheet
Equity	1,1 M €	-15.5%	1,3 M €	-43.6%	2,2 M €	-50.0%	4,5 M €	+10.4%	4 M €	+3.9%	3,9 M €	-26.2%	5,3 M €	+11.2%	4,7 M €	+10.7%	4,3 M €	+9.8%	3,9 M €	-1.1%	3,9 M €	+3.7%	3,8 M €	-7.6%	4,1 M €	+6.3%	3,9 M €	+9.5%	3,5 M €	-45.6%	6,5 M €	+1.5%	6,4 M €	-1.8%	6,5 M €	-5.4%	6,9 M €
Total assets	2,4 M €	-28.0%	3,3 M €	-11.2%	3,8 M €	-41.5%	6,4 M €	-9.9%	7,1 M €	+14.8%	6,2 M €	-29.3%	8,8 M €	-3.2%	9,1 M €	+31.0%	6,9 M €	+9.3%	6,4 M €	+6.4%	6 M €	-1.8%	6,1 M €	-0.4%	6,1 M €	+8.8%	5,6 M €	-26.0%	7,6 M €	-0.6%	7,6 M €	-3.4%	7,9 M €	-10.6%	8,8 M €	-4.8%	9,3 M €
Cash	484,9 k €	+529%	77,1 k €	-86.8%	585,7 k €	+520%	94,4 k €	-85.3%	640,8 k €	+9.0%	587,9 k €	+258%	164,3 k €	-29.0%	231,3 k €	-3.4%	239,5 k €	+7.5%	222,8 k €	+43.3%	155,5 k €	-32.3%	229,6 k €	+62.9%	140,9 k €	-1.0%	142,3 k €	+40.2%	101,5 k €	-5.4%	107,3 k €	-97.9%	5,2 M €	-10.5%	5,8 M €	+1.5%	5,7 M €
Debts	1,3 M €	-35.5%	2,1 M €	+35.9%	1,5 M €	-22.3%	2 M €	-36.3%	3,1 M €	+33.1%	2,3 M €	-34.0%	3,5 M €	-18.9%	4,4 M €	+63.6%	2,7 M €	+8.6%	2,5 M €	+20.9%	2 M €	-11.0%	2,3 M €	+14.7%	2 M €	+14.3%	1,7 M €	-57.0%	4 M €	+261%	1,1 M €	-24.3%	1,5 M €	-35.8%	2,3 M €	-3.2%	2,4 M €
Other
Workforce	22,7 ETP	-22.8%	29,4 ETP	-20.5%	37,0 ETP	-10.0%	41,1 ETP	+3.8%	39,6 ETP	0.0%	39,6 ETP	-5.5%	41,9 ETP	+11.7%	37,5 ETP	-2.1%	38,3 ETP	+7.9%	35,5 ETP	-1.7%	36,1 ETP	+5.9%	34,1 ETP	-1.7%	34,7 ETP	+23.0%	28,2 ETP	-2.4%	28,9 ETP	-6.2%	30,8 ETP	-12.5%	35,2 ETP	-2.8%	36,2 ETP	-22.5%	46,7 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 26 ended

Active mandates

Dennis Vandewalle

Director · since 05 août 2025 · until 27 mai 2031

Active

Shahid Sadiq

Director · since 31 mars 2023 · until 05 août 2025

Active

Dominic Grainger

Director · since 15 juillet 2022 · until 05 août 2025

Active

Harry Demey

Director · since 15 juillet 2022 · until 27 mai 2031

Active

Ended mandates

Shadid Sadiq

Director · since 31 mars 2023 · until 30 mai 2028

Ended

Shahid Sadiq

Director · since 31 mars 2023 · until 30 mai 2028

Ended

Angela Goddard

Director · since 15 juillet 2022 · until 31 mars 2023

Ended

Dominic Grainger

Director · since 15 juillet 2022 · until 30 mai 2028

Ended

At this address

Other companies at this address

Company	CBE no.
ANTWERPSE TELEVISIE (A.T.V.)● Active	0432.073.038
EGALITE SHIPPING● Active	0467.051.832
ESPRIT BELGIE WHOLESALE● Bankrupt	0454.133.115
EXPERT NETWORK● Active	0844.412.813
GRITT● Active	0661.737.265
GROWZER● Active	0636.843.897
HYBRID MEDIA● Active	0844.373.320
icapps● Active	0819.575.764
RAILTRAXX● Active	0864.046.405
SSPCS Group● Active	0672.916.318
TEC● Active	0477.750.833
UB2● Active	1041.399.621
United Blending● Active	1041.398.928
UNITED BUNKERS● Active	0632.455.341
VIS VAN A● Bankrupt	0784.703.769
Wildstream● Active	0792.210.480
Wildstream Ventures● Active	0475.317.519
WS Union● Active	1029.388.942
WS Venture Studio● Active	1029.846.327

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged 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	30/06/2026	03/07/2025	31/07/2024	28/06/2023	15/07/2022	14/07/2021
General meeting	25/06/2026	30/06/2025	22/07/2024	19/06/2023	15/07/2022	13/07/2021
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
Abridged model	31/12/2025	25/06/2026	30/06/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	03/07/2025	Dutch	PDF
Full model	31/12/2023	22/07/2024	31/07/2024	Dutch	PDF
Full model	31/12/2022	19/06/2023	28/06/2023	Dutch	PDF
Full model	31/12/2021	15/07/2022	15/07/2022	Dutch	PDF
Full model	31/12/2020	13/07/2021	14/07/2021	Dutch	PDF
Full model	31/12/2019	26/02/2021	03/03/2021	Dutch	PDF
Full model	31/12/2018	29/11/2019	02/12/2019	Dutch	PDF
Full model	31/12/2017	28/12/2018	28/12/2018	Dutch	PDF
Full model	31/12/2016	31/07/2017	31/07/2017	Dutch	PDF
Full model	31/12/2015	14/07/2016	15/07/2016	Dutch	PDF
Full model	31/12/2014	29/07/2015	31/07/2015	Dutch	PDF
Full model	31/12/2013	10/07/2014	25/07/2014	Dutch	PDF
Full model	31/12/2012	28/06/2013	19/07/2013	Dutch	PDF
Full model	31/12/2011	18/06/2012	25/06/2012	Dutch	PDF
Full model	31/12/2010	31/05/2011	24/06/2011	Dutch	PDF
Full model	31/12/2009	25/05/2010	29/06/2010	Dutch	PDF
Full model	31/12/2008	29/06/2009	29/06/2009	Dutch	PDF
Full model	31/12/2007	28/07/2008	31/07/2008	Dutch	PDF
Full model	31/12/2006	29/06/2007	23/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 4 active · 26 ended

Active mandates

Dennis Vandewalle

Director · since 05 août 2025 · until 27 mai 2031

Active

Shahid Sadiq

Director · since 31 mars 2023 · until 05 août 2025

Active

Dominic Grainger

Director · since 15 juillet 2022 · until 05 août 2025

Active

Harry Demey

Director · since 15 juillet 2022 · until 27 mai 2031

Active

Ended mandates

Shadid Sadiq

Director · since 31 mars 2023 · until 30 mai 2028

Ended

Shahid Sadiq

Director · since 31 mars 2023 · until 30 mai 2028

Ended

Angela Goddard

Director · since 15 juillet 2022 · until 31 mars 2023

Ended

Dominic Grainger

Director · since 15 juillet 2022 · until 30 mai 2028

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates10/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares19/08/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates26/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other25/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN
PDF
Mandates11/05/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/08/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates09/08/2021
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 2025-745,4 k €↑
2024
Annual accounts 2024-973,2 k €↓
2023
Annual accounts 2023-734,6 k €↓
2022
Annual accounts 2022188,2 k €↑
2020
Annual accounts 2020151,6 k €↑
2019
Annual accounts 2019119,4 k €↓
2018
Annual accounts 2018532,5 k €↑
2017
Annual accounts 2017456,9 k €↑
2016
Annual accounts 2016382,4 k €↓
2015
Annual accounts 2015455,6 k €↓
2014
Annual accounts 2014539,4 k €↓
2013
Annual accounts 2013685,8 k €↓
2012
Annual accounts 2012992,7 k €↑
2011
Annual accounts 2011337,3 k €↑
2010
Annual accounts 201032 k €↓
2009
Annual accounts 200993,6 k €↑
2008
Annual accounts 2008-89,7 k €↑
2007
Annual accounts 2007-333,7 k €↑
2006
Annual accounts 2006-1,3 M €
30/12/1957
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

LDV/United

Overview

What does LDV/United do?

Trend over 19 financial years

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