CEUSTERS
0404.697.064 · rovalta.com · 21/09/2026
ACTIVE
CEUSTERS
Financial year 2025 · closed on 31/12/2025
Net result
1,0 M €
+0.2% YoY
Revenue
29,7 M €
+2.4% YoY
Equity
4,1 M €
+10.0% YoY
Workforce
76,3 ETP
+2.1% YoY
Overview
What does CEUSTERS do?
CEUSTERS is a Public limited company incorporated in 1943. Its main activity is: Real estate agencies. Its registered office is in Antwerpen. It employs on average 76,3 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0404.697.064
Incorporation
12/02/1943
Legal form
Public limited company
Registered office
Uitbreidingstraat 72 box b2
2600 Antwerpen · FlandreSee on map
2600 Antwerpen · FlandreSee on map
Contributed capital
500 000,00 €
Latest accounts
31/12/2025
Average workforce
76,3 ETP
Activities (NACE)
68310Real estate agencies· main68311Real estate agencies68321Management of real estate on a fee or contract basis68322Management of real estate on a fee or contract basis70311Activities of head offices; management consultancy activities46180Agents specialised in the sale of other particular products+6
Joint committees (2)
- 323
- 3230
Signals
ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue
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Financials
Trend over 18 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||||
| Revenue | 29,7 M € | +2.4% | 29,0 M € | +1.7% | 28,5 M € | +9.4% | 26,1 M € | +35.6% | 19,2 M € | +9.2% | 17,6 M € | -1.6% | 17,9 M € | -2.0% | 18,3 M € | +1.6% | 18,0 M € | -0.2% | 18,0 M € | -2.8% | 18,5 M € | +351% | 4,1 M € | -6.1% | 4,4 M € | +10.7% | 4,0 M € | +4.6% | 3,8 M € | -9.4% | 4,2 M € | – | – | ||
| EBITDA | 1,8 M € | +5.0% | 1,7 M € | +41.0% | 1,2 M € | -18.4% | 1,5 M € | +95.4% | 764,2 k € | +269% | 207,2 k € | -68.7% | 661,7 k € | -41.4% | 1,1 M € | +15.9% | 974,2 k € | -22.0% | 1,2 M € | +30.4% | 957,4 k € | +242% | 279,8 k € | +42.2% | 196,7 k € | -38.6% | 320,2 k € | -12.5% | 365,9 k € | -38.6% | 595,8 k € | +21.8% | 489,3 k € | +15.9% | 422,3 k € |
| Operating result | 1,6 M € | -0.4% | 1,6 M € | +37.2% | 1,2 M € | -18.4% | 1,5 M € | +91.0% | 760,0 k € | +291% | 194,6 k € | -76.9% | 843,5 k € | -0.1% | 844,3 k € | -6.3% | 901,1 k € | -19.4% | 1,1 M € | +36.9% | 816,6 k € | +256% | 229,4 k € | +49.1% | 153,8 k € | -37.8% | 247,4 k € | -1.5% | 251,2 k € | -42.1% | 433,8 k € | +18.7% | 365,4 k € | -12.3% | 416,5 k € |
| Net result | 1,0 M € | +0.2% | 1,0 M € | +41.9% | 711,9 k € | -26.0% | 962,0 k € | +110% | 458,1 k € | +184% | 161,1 k € | -66.9% | 486,8 k € | +5.3% | 462,3 k € | -8.5% | 505,5 k € | -23.6% | 661,2 k € | +39.8% | 473,0 k € | +305% | 116,7 k € | +24.9% | 93,4 k € | -45.7% | 172,2 k € | -7.4% | 185,9 k € | -40.7% | 313,7 k € | +25.8% | 249,3 k € | -0.0% | 249,4 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||
| Equity | 4,1 M € | +10.0% | 3,7 M € | +10.4% | 3,4 M € | +9.8% | 3,1 M € | +11.4% | 2,7 M € | +20.3% | 2,3 M € | +7.6% | 2,1 M € | +15.7% | 1,8 M € | +9.7% | 1,7 M € | +0.3% | 1,7 M € | +10.7% | 1,5 M € | +34.0% | 1,1 M € | +0.1% | 1,1 M € | -0.6% | 1,1 M € | +1.1% | 1,1 M € | +2.4% | 1,1 M € | +14.0% | 952,4 k € | +5.5% | 903,1 k € |
| Total assets | 17,0 M € | -6.6% | 18,1 M € | +17.8% | 15,4 M € | +15.7% | 13,3 M € | +24.9% | 10,7 M € | +12.5% | 9,5 M € | +0.6% | 9,4 M € | -8.6% | 10,3 M € | +6.7% | 9,6 M € | +2.7% | 9,4 M € | +2.5% | 9,2 M € | +271% | 2,5 M € | +5.1% | 2,4 M € | -5.6% | 2,5 M € | +3.2% | 2,4 M € | -5.1% | 2,5 M € | -1.6% | 2,6 M € | +11.3% | 2,3 M € |
| Cash | 7,3 M € | -22.0% | 9,4 M € | +51.8% | 6,2 M € | -5.2% | 6,5 M € | +70.8% | 3,8 M € | +108% | 1,8 M € | -30.8% | 2,6 M € | -31.5% | 3,9 M € | +3.3% | 3,7 M € | +9.3% | 3,4 M € | +13.5% | 3,0 M € | +1130% | 244,6 k € | +24.8% | 196,0 k € | +64.9% | 118,9 k € | +162% | 45,3 k € | -55.7% | 102,2 k € | +6.5% | 96,0 k € | -16.5% | 115,0 k € |
| Debts | 9,6 M € | -14.5% | 11,2 M € | +30.9% | 8,6 M € | +22.4% | 7,0 M € | +13.4% | 6,2 M € | +17.7% | 5,2 M € | +0.8% | 5,2 M € | -14.9% | 6,1 M € | +4.8% | 5,8 M € | -2.9% | 6,0 M € | +12.2% | 5,4 M € | +296% | 1,4 M € | +20.4% | 1,1 M € | -13.3% | 1,3 M € | +7.1% | 1,2 M € | -11.7% | 1,4 M € | -7.7% | 1,5 M € | +15.3% | 1,3 M € |
| Other | |||||||||||||||||||||||||||||||||||
| Workforce | 76,3 ETP | +2.1% | 74,7 ETP | +3.5% | 72,2 ETP | +3.0% | 70,1 ETP | +8.3% | 64,7 ETP | +1.3% | 63,9 ETP | +4.2% | 61,3 ETP | +2.2% | 60,0 ETP | -2.1% | 61,3 ETP | -8.0% | 66,6 ETP | +4.4% | 63,8 ETP | +103% | 31,5 ETP | +5.7% | 29,8 ETP | +16.4% | 25,6 ETP | +2.0% | 25,1 ETP | -13.7% | 29,1 ETP | +1.0% | 28,8 ETP | +14.7% | 25,1 ETP |
Estimate
Indicative valuation
As an indication, this company is worth
between 10 M€ and 25 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 6 active · 52 ended
Active mandates
Katja Borgerhoff
ActiveActive
Active
Active
Active
At this address
Other companies at this address
| Company | CBE no. |
|---|---|
Accresco Holding● Active | 0562.751.537 |
Continental Realty België● Active | 0555.837.219 |
DOCKS MANAGEMENT● Active | 0752.750.781 |
| 0439.926.375 | |
| 0439.814.826 | |
GRANT THORNTON BELGIUM● Active | 0474.684.049 |
GRANT THORNTON EFFICIËNTIA● Active | 0407.420.487 |
| 0459.309.351 | |
HCS Real Estate Management● Active | 0553.743.702 |
Jeff Hermans● Active | 0701.642.075 |
Modena Partners● Active | 1037.251.088 |
Turbo Ardennes Buyer● Active | 1028.279.281 |
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 | 04/05/2026 | 06/05/2025 | 19/04/2024 | 03/05/2023 | 25/04/2022 | 28/07/2021 |
| General meeting | 20/04/2026 | 22/04/2025 | 15/04/2024 | 17/04/2023 | 19/04/2022 | 28/06/2021 |
| 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
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 | 20/04/2026 | 04/05/2026 | Dutch | |
| Full model | 31/12/2024 | 22/04/2025 | 06/05/2025 | Dutch | |
| Full model | 31/12/2023 | 15/04/2024 | 19/04/2024 | Dutch | |
| Full model | 31/12/2022 | 17/04/2023 | 03/05/2023 | Dutch | |
| Full model | 31/12/2021 | 19/04/2022 | 25/04/2022 | Dutch | |
| Full model | 31/12/2020 | 28/06/2021 | 28/07/2021 | Dutch | |
| Full model | 31/12/2019 | 29/06/2020 | 13/07/2020 | Dutch | |
| Full model | 31/12/2018 | 15/04/2019 | 07/05/2019 | Dutch | |
| Full model | 31/12/2017 | 16/05/2018 | 31/05/2018 | Dutch | |
| Full model | 31/12/2016 | 18/04/2017 | 17/05/2017 | Dutch | |
| Full model | 31/12/2015 | 18/04/2016 | 21/04/2016 | Dutch | |
| Full model | 31/12/2014 | 13/04/2015 | 22/04/2015 | Dutch | |
| Full model | 31/12/2013 | 14/04/2014 | 23/04/2014 | Dutch | |
| Abridged model | 31/12/2012 | 15/04/2013 | 07/05/2013 | Dutch | |
| Abridged model | 31/12/2011 | 16/04/2012 | 08/05/2012 | Dutch | |
| Abridged model | 31/12/2010 | 18/04/2011 | 21/04/2011 | Dutch | |
| Abridged model | 31/12/2009 | 19/04/2010 | 11/05/2010 | Dutch | |
| Abridged model | 31/12/2008 | 20/04/2009 | 16/09/2009 | Dutch | |
| Abridged model | 31/12/2007 | 21/04/2008 | 30/05/2008 | Dutch | |
| Abridged model | 31/12/2006 | 16/04/2007 | 21/05/2007 | Dutch |
Valuation
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.
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
Governance
Board of directors
Seen on filing of 31/12/2025 · 6 active · 52 ended
Active mandates
Katja Borgerhoff
ActiveActive
Active
Active
Active
Shareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Mandates13/05/2026ONTSLAGEN - BENOEMINGEN
- Mandates07/07/2025ONTSLAGEN - BENOEMINGEN
- Mandates09/05/2025ONTSLAGEN - BENOEMINGEN
- Mandates18/11/2024ONTSLAGEN - BENOEMINGEN
- Mandates14/11/2024STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
- Restructuring24/06/2022KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
- Mandates11/05/2022ONTSLAGEN - BENOEMINGEN
- Restructuring02/05/2022RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
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 20251,0 M €↑
- 2024Annual accounts 20241,0 M €↑
- 2023Annual accounts 2023711,9 k €↓
- 2022Annual accounts 2022962,0 k €↑
- 2021Annual accounts 2021458,1 k €↑
- 2019Annual accounts 2019161,1 k €↓
- 2018Annual accounts 2018486,8 k €↑
- 2017Annual accounts 2017462,3 k €↓
- 2016Annual accounts 2016505,5 k €↓
- 2015Annual accounts 2015661,2 k €↑
- 2014Annual accounts 2014473,0 k €↑
- 2012Annual accounts 2012116,7 k €↑
- 2011Annual accounts 201193,4 k €↓
- 2010Annual accounts 2010172,2 k €↓
- 2009Annual accounts 2009185,9 k €↓
- 2008Annual accounts 2008313,7 k €↑
- 2007Annual accounts 2007249,3 k €↓
- 2006Annual accounts 2006249,4 k €
- 12/02/1943IncorporationPublic limited company