ACTIVE

Natan

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Financial year 2025 · closed on 30/09/2025

Net result

136,5 k €

-2.7% YoY

Gross margin

398,3 k €

+11.3% YoY

Equity

1,6 M €

+9.5% YoY

What does Natan do?

Natan is a Public limited company incorporated in 1929. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Oostende.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0405.273.819

Incorporation

07/11/1929

Legal form

Public limited company

Registered office

Ooststraat 22 box 2
8400 Oostende · FlandreSee on map

Contributed capital

61 973,38 €

Latest accounts

30/09/2025

Activities (NACE)

68201Rental and operating of own or leased real estate· main

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDA

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		2021		2020		2019		2018		2017		2016		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	398,3 k €	+11.3%	357,7 k €	-55.9%	810,8 k €	+128%	356,3 k €	+24.0%	287,3 k €	+16.4%	246,8 k €	-14.9%	290,1 k €	-72.7%	1,1 M €	+306%	261,2 k €	+31.7%	198,4 k €	+107%	95,6 k €	-25.8%	129 k €	-5.0%	135,8 k €	+149%	54,5 k €	-12.8%	62,5 k €	+2.9%	60,8 k €	+3.7%	58,6 k €	+2.8%	57 k €	+31.1%	43,5 k €
EBITDA	331,2 k €	+1.3%	327 k €	-57.6%	771,6 k €	+167%	289,4 k €	+14.0%	253,9 k €	+18.5%	214,2 k €	-19.0%	264,5 k €	-50.2%	531,3 k €	+172%	195 k €	+22.2%	159,5 k €	+131%	69 k €	-34.0%	104,5 k €	-23.0%	135,7 k €	+231%	41 k €	-17.9%	49,9 k €	+7.7%	46,3 k €	+3.1%	44,9 k €	+2.8%	43,7 k €	+37.4%	31,8 k €
Operating result	212,4 k €	-2.2%	217,2 k €	-68.0%	679,3 k €	+245%	197,1 k €	+22.0%	161,6 k €	+46.5%	110,3 k €	-36.4%	173,5 k €	-63.1%	470 k €	+207%	153 k €	+3104%	-5,1 k €	+0.1%	-5,1 k €	-129%	17,6 k €	-78.7%	82,8 k €	+211%	26,7 k €	-24.0%	35,1 k €	+12.0%	31,3 k €	+6.5%	29,4 k €	+15.4%	25,5 k €	+90.1%	13,4 k €
Net result	136,5 k €	-2.7%	140,4 k €	-71.2%	487,6 k €	+264%	133,8 k €	+45.8%	91,8 k €	+53.6%	59,8 k €	-51.1%	122,3 k €	-67.2%	372,3 k €	+187%	129,8 k €	+131%	-417,4 k €	-8221%	-5 k €	-103%	178,5 k €	+887%	-22,7 k €	-217%	19,3 k €	-30.1%	27,6 k €	+23.1%	22,4 k €	+15.9%	19,4 k €	+19.9%	16,1 k €	+2872%	543 €
Balance sheet
Equity	1,6 M €	+9.5%	1,4 M €	+10.8%	1,3 M €	+60.1%	811,5 k €	+19.7%	677,7 k €	+15.7%	586 k €	+11.4%	526,2 k €	+30.3%	403,9 k €	+1175%	31,7 k €	+132%	-98,1 k €	-131%	319,3 k €	-1.5%	324,3 k €	+122%	145,8 k €	-13.5%	168,5 k €	+4.5%	161,2 k €	+10.7%	145,6 k €	+7.7%	135,1 k €	+5.8%	127,8 k €	+9.5%	116,6 k €
Total assets	2,4 M €	+0.9%	2,4 M €	+2.7%	2,3 M €	-5.3%	2,4 M €	+15.0%	2,1 M €	-10.0%	2,4 M €	+3.8%	2,3 M €	-0.1%	2,3 M €	+14.9%	2 M €	-2.1%	2 M €	+3.0%	2 M €	-6.1%	2,1 M €	+103%	1 M €	+180%	367,4 k €	+18.1%	311,1 k €	-1.4%	315,5 k €	-4.2%	329,5 k €	+3.8%	317,3 k €	-1.8%	323,1 k €
Cash	155,5 k €	+75.8%	88,4 k €	-82.4%	501,5 k €	+2565%	18,8 k €	-83.4%	113,5 k €	-1.1%	114,8 k €	+180%	41,1 k €	-24.2%	54,2 k €	-55.5%	121,8 k €	+16.3%	104,8 k €	+271%	28,2 k €	+151%	11,3 k €	-61.0%	28,8 k €	-44.1%	51,6 k €	+74.7%	29,5 k €	-28.1%	41,1 k €	-0.0%	41,1 k €	+166%	15,4 k €	+212%	4,9 k €
Debts	820,1 k €	-12.3%	934,9 k €	-7.6%	1 M €	-37.4%	1,6 M €	+12.8%	1,4 M €	-19.2%	1,8 M €	+1.5%	1,7 M €	-4.7%	1,8 M €	-6.0%	1,9 M €	-8.2%	2,1 M €	+36.8%	1,6 M €	-7.5%	1,7 M €	+90.8%	879,6 k €	+347%	196,7 k €	+33.4%	147,4 k €	-3.3%	152,5 k €	-19.8%	190 k €	+2.5%	185,4 k €	-7.9%	201,3 k €
Other
Workforce	–		–		0,0 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 30/09/2025 · 3 active · 15 ended

Active mandates

Doris Velthof

Managing director · since 29 juin 2022

Active

David Vanbiervliet

Managing director · since 20 avril 2004

Active

Alexander Vanbiervliet

Managing director · since 05 septembre 2003

Active

Ended mandates

DORIS VELTHOF

Administrator - manager · since 13 juillet 2009 · until 30 juin 2014

Ended

DORIS VELTHOF

Chairman of the board of directors · since 18 mai 2007 · until 17 mai 2014

Ended

DORIS VELTHOF

Director · since 17 mai 2007

Ended

Alexander Vanbiervliet

Managing director

Ended

At this address

Other companies at this address

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DALEX● Active	0650.970.463
POESKAFFEE● Active	0459.901.843
Vereniging Van Mede-Eigenaars Residentie Cappuccino Ooststraat 22● Active	0745.794.792

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Micro model	Abridged model	Abridged model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	27/04/2026	27/03/2025	22/04/2024	28/04/2023	26/04/2022	29/04/2021
General meeting	27/02/2026	28/02/2025	24/03/2024	24/02/2023	25/02/2022	26/02/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	27/02/2026	27/04/2026	Dutch	PDF
Abridged model	30/09/2024	28/02/2025	27/03/2025	Dutch	PDF
Abridged model	30/09/2023	24/03/2024	22/04/2024	Dutch	PDF
Micro model	30/09/2022	24/02/2023	28/04/2023	Dutch	PDF
Abridged model	30/09/2021	25/02/2022	26/04/2022	Dutch	PDF
Abridged model	30/09/2020	26/02/2021	29/04/2021	Dutch	PDF
Micro model	30/09/2019	28/02/2020	29/04/2020	Dutch	PDF
Micro model	30/09/2018	01/04/2019	08/04/2019	Dutch	PDF
Micro model	30/09/2017	23/02/2018	29/03/2018	Dutch	PDF
Abridged model	30/09/2016	29/03/2017	30/03/2017	Dutch	PDF
Abridged model	30/11/2014	28/05/2015	02/07/2015	Dutch	PDF
Abridged model	30/11/2013	28/05/2014	14/10/2014	Dutch	PDF
Abridged model	30/11/2012	02/07/2013	02/07/2013	Dutch	PDF
Abridged model	30/11/2011	08/07/2012	10/07/2012	Dutch	PDF
Abridged model	31/12/2010	08/06/2011	21/06/2011	Dutch	PDF
Abridged model	30/11/2009	30/04/2010	17/06/2010	Dutch	PDF
Abridged model	30/11/2008	25/06/2009	30/06/2009	Dutch	PDF
Abridged model	30/11/2007	30/05/2008	30/05/2008	Dutch	PDF
Abridged model	30/11/2006	30/05/2007	13/06/2007	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 30/09/2025 · 3 active · 15 ended

Active mandates

Doris Velthof

Managing director · since 29 juin 2022

Active

David Vanbiervliet

Managing director · since 20 avril 2004

Active

Alexander Vanbiervliet

Managing director · since 05 septembre 2003

Active

Ended mandates

DORIS VELTHOF

Administrator - manager · since 13 juillet 2009 · until 30 juin 2014

Ended

DORIS VELTHOF

Chairman of the board of directors · since 18 mai 2007 · until 17 mai 2014

Ended

DORIS VELTHOF

Director · since 17 mai 2007

Ended

Alexander Vanbiervliet

Managing director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates14/07/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Other18/11/2015
BOEKJAAR
PDF
Mandates06/06/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/07/2009
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/07/2007
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/05/2004
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares20/01/2004
ALGEMENE VERGADERING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BOEKJAAR
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 2025136,5 k €↓
2024
Annual accounts 2024140,4 k €↓
2023
Annual accounts 2023487,6 k €↑
2022
Annual accounts 2022133,8 k €↑
2021
Annual accounts 202191,8 k €↑
2020
Annual accounts 202059,8 k €↓
2019
Annual accounts 2019122,3 k €↓
2018
Annual accounts 2018372,3 k €↑
2017
Annual accounts 2017129,8 k €↑
2016
Annual accounts 2016-417,4 k €↓
2014
Annual accounts 2014-5 k €↓
2013
Annual accounts 2013178,5 k €↑
2012
Annual accounts 2012-22,7 k €↓
2011
Annual accounts 201119,3 k €↓
2010
Annual accounts 201027,6 k €↑
2009
Annual accounts 200922,4 k €↑
2008
Annual accounts 200819,4 k €↑
2007
Annual accounts 200716,1 k €↑
2006
Annual accounts 2006543 €
07/11/1929
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

Natan

Overview

What does Natan 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