ACTIVE

Ardex

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Financial year 2025 · closed on 31/12/2025
Net result
-66,6 k €
+13.2% YoY
Equity
408,7 k €
-14.0% YoY

What does Ardex do?

Ardex is a Public limited company incorporated in 1946. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Antwerpen.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0403.661.441
Incorporation
04/02/1946
Legal form
Public limited company
Registered office
Borsbeeksebrug 22 box 7
2600 Antwerpen · FlandreSee on map
Contributed capital
96 736,90 €
Latest accounts
31/12/2025
Activities (NACE)
68203Rental and operating of own or leased real estate· main68203Rental and operating of own or leased real estate70203Management consultancy activities
Signals
Solid equity
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 20 financial years

20252024202320222021202020192018201720162015201420132012201120102009200820072006
Income statement
Gross margin––––––––––––––16 k €6,7 k €14,2 k €12,2 k €11,7 k €15,1 k €
EBITDA-58,5 k €-66 k €-8,8 k €11,1 k €11,7 k €11 k €10,4 k €14,7 k €6,2 k €6,3 k €6,3 k €3,8 k €4,1 k €9,1 k €10,9 k €1,1 k €8,9 k €7,1 k €6,7 k €10,1 k €
Operating result-65,3 k €-76,1 k €-18,9 k €924,4 €1,7 k €1,2 k €2,4 k €10,2 k €2 k €2,1 k €2,1 k €2,4 k €2,7 k €7,7 k €9 k €141,4 €8,5 k €6,7 k €5,4 k €6,5 k €
Net result-66,6 k €-76,8 k €-19,5 k €63,4 €599,5 €126,3 €1,1 k €6,5 k €1,1 k €1,8 k €1,9 k €2,2 k €4,8 k €8,3 k €7,1 k €284,2 €7,9 k €7,5 k €6 k €6,9 k €
Balance sheet
Equity408,7 k €475,3 k €552,1 k €571,6 k €571,5 k €570,9 k €570,8 k €569,7 k €575,1 k €573,9 k €572,1 k €570,2 k €568 k €565,7 k €557,4 k €550,3 k €550 k €542,1 k €534,5 k €528,5 k €
Total assets469 k €498,1 k €562,4 k €574,8 k €572,7 k €571,6 k €572,5 k €570,4 k €577,8 k €573,9 k €574 k €572,5 k €570,4 k €565,9 k €557,4 k €555,9 k €550,1 k €542,1 k €534,6 k €528,5 k €
Cash800,2 €21,7 k €77,5 k €68,8 k €69 k €60,2 k €51,1 k €97 k €93,4 k €86 k €82,8 k €106,6 k €105,8 k €98,2 k €26,3 k €14,1 k €40,8 k €32,3 k €23,9 k €16,1 k €
Debts60,3 k €22,7 k €10,3 k €3,3 k €1,1 k €684,9 €1,8 k €675,2 €2,8 k €––2,2 k €–200 €–91,8 €91,8 €–27,1 €–
Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 45 ended

Active mandates

GUILLERMO

Director · since 03 mai 2022 · until 02 mai 2028 · 0668.357.912

Represented by Wim Straetmans

Active
WMA3

Director · since 03 mai 2022 · until 02 mai 2028 · 0555.975.987

Represented by Walter Masure

Active

Ended mandates

GUILLERMO

Director · since 03 mai 2022 · until 02 mai 2028 · 0668.357.912

Represented by Wim Straetmans

Ended
WMA3

Director · since 03 mai 2022 · until 02 mai 2028 · 0555.975.987

Represented by Walter Masure

Ended
GUILLERMO

Director · since 01 avril 2022 · until 02 mai 2023 · 0668.357.912

Represented by Wim Staetmans

Ended
Herroelen

Director · since 31 décembre 2020 · until 31 mars 2022 · 0713.752.823

Represented by Bart Herroelen

Ended
At this address

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BAM Interbuild● Active
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BAM Mat● Active
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BRIDGECITY DEVELOPMENT● Active
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Bruggenbouwer● Active
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BYTEFLIES● Active
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CAMPUS KOEKELBERG● Active
0657.807.973
CITY PROJECTS● Active
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CITY PROPERTY● Active
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DELEERS CAMPUS● Active
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DELEERS RESIDENTIEEL● Active
0797.113.039
DÈVELOPPEMENT FAISANDERIE● Active
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Eandistip● Active
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EPC POORT VAN BEVEREN● Active
0837.363.980
Annual accounts

Full financial information

202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date11/05/202615/05/202514/05/202403/05/202331/05/202220/05/2021
General meeting05/05/202606/05/202507/05/202402/05/202323/05/202204/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202505/05/202611/05/2026DutchPDF
Full model31/12/202406/05/202515/05/2025DutchPDF
Full model31/12/202307/05/202414/05/2024DutchPDF
Full model31/12/202202/05/202303/05/2023DutchPDF
Full model31/12/202123/05/202231/05/2022DutchPDF
Full model31/12/202004/05/202120/05/2021DutchPDF
Full model31/12/201905/05/202018/05/2020DutchPDF
Full model31/12/201829/05/201911/06/2019DutchPDF
Full model31/12/201701/05/201822/05/2018DutchPDF
Full model31/12/201602/06/201712/06/2017DutchPDF
Full model31/12/201520/06/201628/06/2016DutchPDF
Full model31/12/201408/06/201507/07/2015DutchPDF
Full modelCorrection31/12/201306/05/201426/01/2015DutchPDF
Full model31/12/201306/05/201415/10/2014DutchPDF
Full model31/12/201202/09/201330/09/2013DutchPDF
Abridged model31/12/201102/05/201212/06/2012DutchPDF
Abridged model31/12/201004/05/201115/06/2011DutchPDF
Abridged model31/12/200904/05/201002/07/2010DutchPDF
Abridged model31/12/200805/05/200902/07/2010DutchPDF
Abridged model31/12/200706/05/200813/06/2008DutchPDF
Abridged model31/12/200602/05/200722/05/2007DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 · 45 ended

Active mandates

GUILLERMO

Director · since 03 mai 2022 · until 02 mai 2028 · 0668.357.912

Represented by Wim Straetmans

Active
WMA3

Director · since 03 mai 2022 · until 02 mai 2028 · 0555.975.987

Represented by Walter Masure

Active

Ended mandates

GUILLERMO

Director · since 03 mai 2022 · until 02 mai 2028 · 0668.357.912

Represented by Wim Straetmans

Ended
WMA3

Director · since 03 mai 2022 · until 02 mai 2028 · 0555.975.987

Represented by Walter Masure

Ended
GUILLERMO

Director · since 01 avril 2022 · until 02 mai 2023 · 0668.357.912

Represented by Wim Staetmans

Ended
Herroelen

Director · since 31 décembre 2020 · until 31 mars 2022 · 0713.752.823

Represented by Bart Herroelen

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Other13/07/2026
    —
    PDF
  • Mandates07/07/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other03/01/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates06/09/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates15/06/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates27/04/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office22/09/2021
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates20/01/2021
    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

Timeline

  1. 2025
    Annual accounts 2025-66,6 k €↑
  2. 2024
    Annual accounts 2024-76,8 k €↓
  3. 2023
    Annual accounts 2023-19,5 k €↓
  4. 2022
    Annual accounts 202263,4 €↓
  5. 2021
    Annual accounts 2021599,5 €↑
  6. 2020
    Annual accounts 2020126,3 €↓
  7. 2019
    Annual accounts 20191,1 k €↓
  8. 2018
    Annual accounts 20186,5 k €↑
  9. 2017
    Annual accounts 20171,1 k €↓
  10. 2016
    Annual accounts 20161,8 k €↓
  11. 2015
    Annual accounts 20151,9 k €↓
  12. 2014
    Annual accounts 20142,2 k €↓
  13. 2013
    Annual accounts 20134,8 k €↓
  14. 2012
    Annual accounts 20128,3 k €↑
  15. 2011
    Annual accounts 20117,1 k €↑
  16. 2010
    Annual accounts 2010284,2 €↓
  17. 2009
    Annual accounts 20097,9 k €↑
  18. 2008
    Annual accounts 20087,5 k €↑
  19. 2007
    Annual accounts 20076 k €↓
  20. 2006
    Annual accounts 20066,9 k €
  21. 04/02/1946
    IncorporationPublic limited company