DE WAAL SOLID FOUNDATIONS
0404.634.015 · rovalta.com · 21/09/2026
ACTIVE
DE WAAL SOLID FOUNDATIONS
Financial year 2025 · closed on 31/12/2025
Net result
2,7 M €
+9.3% YoY
Revenue
39,1 M €
-46.7% YoY
Equity
9,2 M €
-40.8% YoY
Workforce
104,5 ETP
-12.3% YoY
Overview
What does DE WAAL SOLID FOUNDATIONS do?
DE WAAL SOLID FOUNDATIONS is a Public limited company incorporated in 1959. Its main activity is: Manufacture of concrete products for construction purposes. Its registered office is in Lokeren. It employs on average 104,5 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0404.634.015
Incorporation
06/11/1959
Legal form
Public limited company
Registered office
Voshol 6 box A
9160 Lokeren · FlandreSee on map
9160 Lokeren · FlandreSee on map
Contributed capital
697 831,35 €
Latest accounts
31/12/2025
Average workforce
104,5 ETP
Activities (NACE)
23610Manufacture of concrete products for construction purposes· main23610Manufacture of concrete products for construction purposes26610Manufacture of irradiation, electromedical and electrotherapeutic equipment43990Other specialised construction activities n.e.c.43999Other specialised construction activities n.e.c.43990Other specialised construction activities n.e.c.+1
Joint committees (4)
- 124
- 200
- 202
- 218
Signals
ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue
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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 | 39,1 M € | -46.7% | 73,3 M € | +78.1% | 41,2 M € | -1.6% | 41,9 M € | -3.8% | 43,5 M € | +14.7% | 37,9 M € | -17.7% | 46,1 M € | +9.1% | 42,3 M € | -10.9% | 47,4 M € | +43.1% | 33,1 M € | +20.4% | 27,5 M € | -2.1% | 28,1 M € | +15.3% | 24,4 M € | -14.2% | 28,4 M € | +13.1% | 25,1 M € | +43.9% | 17,4 M € | -5.9% | 18,5 M € | -26.3% | 25,1 M € | +28.6% | 19,5 M € | +7.3% | 18,2 M € |
| EBITDA | 3,1 M € | -40.6% | 5,1 M € | -50.5% | 10,4 M € | +369% | 2,2 M € | -63.7% | 6,1 M € | -7.4% | 6,6 M € | +8.5% | 6,1 M € | +8.1% | 5,6 M € | +1.5% | 5,5 M € | +2.8% | 5,4 M € | +26.6% | 4,2 M € | +22.5% | 3,5 M € | -1.0% | 3,5 M € | -21.3% | 4,5 M € | +13.7% | 3,9 M € | +18.9% | 3,3 M € | -7.4% | 3,6 M € | -22.0% | 4,6 M € | +21.6% | 3,8 M € | -5.8% | 4 M € |
| Operating result | 2,5 M € | -36.3% | 4 M € | -57.1% | 9,3 M € | +561% | 1,4 M € | -69.7% | 4,6 M € | -3.4% | 4,8 M € | +47.8% | 3,3 M € | +33.1% | 2,4 M € | -0.1% | 2,4 M € | -28.6% | 3,4 M € | +32.2% | 2,6 M € | +44.5% | 1,8 M € | +4.2% | 1,7 M € | -45.6% | 3,2 M € | +45.3% | 2,2 M € | +21.3% | 1,8 M € | -1.1% | 1,8 M € | -41.8% | 3,1 M € | +38.5% | 2,3 M € | -31.9% | 3,3 M € |
| Net result | 2,7 M € | +9.3% | 2,4 M € | -61.0% | 6,2 M € | +1048% | 542,9 k € | -84.2% | 3,4 M € | +54.9% | 2,2 M € | +8.4% | 2,1 M € | +32.0% | 1,6 M € | -39.4% | 2,6 M € | -17.9% | 3,1 M € | +54.3% | 2 M € | +50.0% | 1,4 M € | +23.6% | 1,1 M € | -49.0% | 2,1 M € | +56.8% | 1,4 M € | +12.6% | 1,2 M € | -17.0% | 1,5 M € | -32.1% | 2,2 M € | +2.0% | 2,1 M € | -44.6% | 3,8 M € |
| Balance sheet | |||||||||||||||||||||||||||||||||||||||
| Equity | 9,2 M € | -40.8% | 15,5 M € | -3.5% | 16,1 M € | +63.1% | 9,9 M € | -0.0% | 9,9 M € | +4.7% | 9,4 M € | +0.3% | 9,4 M € | +0.5% | 9,4 M € | -65.1% | 26,8 M € | +157% | 10,4 M € | +42.7% | 7,3 M € | +0.3% | 7,3 M € | +22.7% | 6 M € | -13.3% | 6,9 M € | +45.4% | 4,7 M € | +40.7% | 3,4 M € | -53.1% | 7,2 M € | +25.6% | 5,7 M € | +25.3% | 4,5 M € | -16.8% | 5,5 M € |
| Total assets | 32,2 M € | -3.3% | 33,3 M € | -7.1% | 35,8 M € | +35.9% | 26,4 M € | -6.5% | 28,2 M € | +13.6% | 24,8 M € | -7.7% | 26,9 M € | -4.4% | 28,1 M € | -31.0% | 40,7 M € | +68.0% | 24,2 M € | +17.8% | 20,6 M € | +14.6% | 17,9 M € | +11.6% | 16,1 M € | -2.0% | 16,4 M € | +0.9% | 16,2 M € | +7.0% | 15,2 M € | +2.5% | 14,8 M € | -22.4% | 19,1 M € | +18.8% | 16,1 M € | +13.2% | 14,2 M € |
| Cash | 4,9 M € | -13.4% | 5,6 M € | +86.0% | 3 M € | +35.0% | 2,2 M € | -18.0% | 2,7 M € | +9.9% | 2,5 M € | +18.3% | 2,1 M € | -43.3% | 3,7 M € | +335% | 855,2 k € | -32.0% | 1,3 M € | -11.5% | 1,4 M € | +61.2% | 881,4 k € | -35.8% | 1,4 M € | +26.4% | 1,1 M € | +1.5% | 1,1 M € | -23.0% | 1,4 M € | -32.3% | 2,1 M € | -10.2% | 2,3 M € | +129% | 1 M € | -57.2% | 2,3 M € |
| Debts | 22,5 M € | +33.1% | 16,9 M € | -12.9% | 19,4 M € | +20.3% | 16,2 M € | -10.1% | 18 M € | +21.2% | 14,8 M € | -11.4% | 16,7 M € | -9.2% | 18,4 M € | +36.8% | 13,5 M € | +4.7% | 12,9 M € | +4.6% | 12,3 M € | +24.3% | 9,9 M € | +4.5% | 9,5 M € | +7.5% | 8,8 M € | -18.0% | 10,7 M € | -4.6% | 11,3 M € | +75.9% | 6,4 M € | -47.5% | 12,2 M € | +15.2% | 10,6 M € | +44.7% | 7,3 M € |
| Other | |||||||||||||||||||||||||||||||||||||||
| Workforce | 104,5 ETP | -12.3% | 119,2 ETP | -6.4% | 127,4 ETP | -3.5% | 132,0 ETP | +0.3% | 131,6 ETP | -3.6% | 136,5 ETP | -0.1% | 136,6 ETP | +3.6% | 131,8 ETP | +0.8% | 130,8 ETP | +66.0% | 78,8 ETP | +11.9% | 70,4 ETP | +5.7% | 66,6 ETP | -3.1% | 68,7 ETP | +2.8% | 66,8 ETP | +10.6% | 60,4 ETP | +3.2% | 58,5 ETP | -1.2% | 59,2 ETP | -4.1% | 61,7 ETP | +12.6% | 54,8 ETP | -4.7% | 57,5 ETP |
Estimate
Indicative valuation
As an indication, this company is worth
between 25 M€ and 50 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 3 active · 33 ended
At this address
Other companies at this address
| Company | CBE no. |
|---|---|
STALS EN ZOON● Active | 0450.745.736 |
Steven Stals Management● Active | 0425.219.690 |
STUDIEBUREEL SONDEX● Active | 0448.841.467 |
Financials
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 | 17/06/2026 | 18/07/2025 | 21/06/2024 | 09/08/2023 | 01/07/2022 | 25/06/2021 |
| General meeting | 05/06/2026 | 30/06/2025 | 03/05/2024 | 19/05/2023 | 18/05/2022 | 21/05/2021 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
20 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Full model | 31/12/2025 | 05/06/2026 | 17/06/2026 | Dutch | |
| Full model | 31/12/2024 | 30/06/2025 | 18/07/2025 | Dutch | |
| Full model | 31/12/2023 | 03/05/2024 | 21/06/2024 | Dutch | |
| Full model | 31/12/2022 | 19/05/2023 | 09/08/2023 | Dutch | |
| Full model | 31/12/2021 | 18/05/2022 | 01/07/2022 | Dutch | |
| Full model | 31/12/2020 | 21/05/2021 | 25/06/2021 | Dutch | |
| Full model | 31/12/2019 | 29/05/2020 | 25/06/2020 | Dutch | |
| Full model | 31/12/2018 | 23/05/2019 | 28/05/2019 | Dutch | |
| Full model | 31/12/2017 | 29/05/2018 | 18/06/2018 | Dutch | |
| Full model | 31/12/2016 | 13/06/2017 | 15/06/2017 | Dutch | |
| Full model | 31/12/2015 | 01/06/2016 | 09/06/2016 | Dutch | |
| Full model | 31/12/2014 | 29/05/2015 | 23/06/2015 | Dutch | |
| Full model | 31/12/2013 | 12/06/2014 | 24/06/2014 | Dutch | |
| Full model | 31/12/2012 | 17/05/2013 | 06/06/2013 | Dutch | |
| Full model | 31/12/2011 | 22/05/2012 | 22/06/2012 | Dutch | |
| Full model | 31/12/2010 | 19/05/2011 | 31/05/2011 | Dutch | |
| Full model | 31/12/2009 | 20/05/2010 | 18/06/2010 | Dutch | |
| Full model | 31/12/2008 | 02/06/2009 | 25/06/2009 | Dutch | |
| Full model | 31/12/2007 | 03/06/2008 | 05/06/2008 | Dutch | |
| Full model | 31/12/2006 | 25/05/2007 | 05/06/2007 | Dutch |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 25 M€ and 50 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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Publications
Belgian Official Gazette
Belgian Official Gazette publications
- Mandates31/07/2025ONTSLAGEN - BENOEMINGEN
- Mandates05/12/2024ONTSLAGEN - BENOEMINGEN - DIVERSEN
- Mandates26/06/2024ONTSLAGEN - BENOEMINGEN
- Mandates14/06/2024ONTSLAGEN - BENOEMINGEN
- Mandates15/03/2024ONTSLAGEN - BENOEMINGEN
- Other27/02/2024STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
- Mandates25/11/2022ONTSLAGEN - BENOEMINGEN
- Mandates15/04/2022ONTSLAGEN - BENOEMINGEN
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 20252,7 M €↑
- 2024Annual accounts 20242,4 M €↓
- 2023Annual accounts 20236,2 M €↑
- 2022Annual accounts 2022542,9 k €↓
- 2021Annual accounts 20213,4 M €↑
- 2020Annual accounts 20202,2 M €↑
- 2019Annual accounts 20192,1 M €↑
- 2018Annual accounts 20181,6 M €↓
- 2017Annual accounts 20172,6 M €↓
- 2017Name changeDE WAAL SOLID FOUNDATIONS
- 2016Annual accounts 20163,1 M €↑
- 2015Annual accounts 20152 M €↑
- 2014Annual accounts 20141,4 M €↑
- 2013Annual accounts 20131,1 M €↓
- 2012Annual accounts 20122,1 M €↑
- 2011Annual accounts 20111,4 M €↑
- 2010Annual accounts 20101,2 M €↓
- 2009Annual accounts 20091,5 M €↓
- 2008Annual accounts 20082,2 M €↑
- 2007Annual accounts 20072,1 M €↓
- 2006Annual accounts 20063,8 M €
- 2006Name changeLes Pieux - De Waal Palen
- 06/11/1959IncorporationPublic limited company