ACTIVE

Smartphoto group

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

1,5 M €

-45.2% YoY

Revenue

35,1 M €

-1.9% YoY

Equity

67,7 M €

-7.5% YoY

Workforce

81,8 ETP

+0.9% YoY

What does Smartphoto group do?

Smartphoto group is a Public limited company incorporated in 1968. Its main activity is: Activities of holding companies. Its registered office is in Wetteren. It employs on average 81,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0405.706.755

Incorporation

01/01/1968

Legal form

Public limited company

Registered office

Kwatrechtsteenweg 160
9230 Wetteren · FlandreSee on map

Contributed capital

41 381 403,00 €

Latest accounts

31/12/2025

Average workforce

81,8 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 74151Specialised design activities 74209Photographic activities 74209Photographic activities

Joint committees (3)

Contacts

2 public details availableLog in to view

Signals

ProfitableSolid equityLow riskPositive cashflowHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ Verdict · Analyst summary

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	35,1 M €	-1.9%	35,8 M €	+0.1%	35,7 M €	-0.6%	35,9 M €	+3.3%	34,8 M €	-1.7%	35,4 M €	+22.2%	29 M €	+13.7%	25,5 M €	+91.5%	13,3 M €	+5955%	219,6 k €	0.0%	219,6 k €	-3.6%	227,7 k €	-23.1%	296,2 k €	-47.7%	566,8 k €	-3.6%	587,9 k €	+1.4%	580 k €	-25.3%	776,6 k €	+1.8%	762,5 k €	-28.5%	1,1 M €	-2.1%	1,1 M €
EBITDA	-12,3 k €	-100%	3,9 M €	-6.2%	4,1 M €	+1.0%	4,1 M €	+13.4%	3,6 M €	-24.4%	4,8 M €	+30.0%	3,7 M €	-2.6%	3,8 M €	+133%	1,6 M €	+390%	-559,6 k €	-39.2%	-402 k €	-6.0%	-379,2 k €	+7.8%	-411,2 k €	-98.2%	-207,4 k €	+28.3%	-289,4 k €	+41.6%	-495,8 k €	+5.8%	-526,5 k €	-1.0%	-521,1 k €	-24.6%	-418,1 k €	+57.6%	-985,4 k €
Operating result	-2,9 M €	-337%	1,2 M €	-19.5%	1,5 M €	+8.1%	1,4 M €	+58.3%	887,6 k €	-57.7%	2,1 M €	+69.7%	1,2 M €	+12.0%	1,1 M €	+102%	545,8 k €	+197%	-561,3 k €	-65.1%	-340 k €	+11.6%	-384,6 k €	+7.6%	-416,4 k €	-23.2%	-337,9 k €	-14.1%	-296,2 k €	-12.4%	-263,5 k €	+50.2%	-528,9 k €	+1.8%	-538,3 k €	-9.9%	-489,7 k €	+14.9%	-575,2 k €
Net result	1,5 M €	-45.2%	2,8 M €	-50.8%	5,7 M €	+51.8%	3,8 M €	-17.3%	4,5 M €	-1.2%	4,6 M €	+2.3%	4,5 M €	-65.2%	12,9 M €	+734%	1,5 M €	+267%	-926,1 k €	-186%	-324,3 k €	+23.4%	-423,3 k €	+97.6%	-18 M €	+71.6%	-63,3 M €	-2645%	-2,3 M €	-207%	2,2 M €	+10.5%	2 M €	+9.8%	1,8 M €	-50.8%	3,6 M €	+141%	-8,8 M €
Balance sheet
Equity	67,7 M €	-7.5%	73,1 M €	+4.0%	70,3 M €	+2.9%	68,3 M €	+0.2%	68,2 M €	+3.2%	66,1 M €	+3.7%	63,7 M €	+3.9%	61,3 M €	+21.7%	50,4 M €	+3.2%	48,9 M €	+2.5%	47,7 M €	-0.7%	48 M €	-0.9%	48,4 M €	-27.0%	66,4 M €	-48.8%	129,7 M €	-1.7%	132 M €	+1.7%	129,8 M €	+1.5%	127,9 M €	+1.4%	126,1 M €	+2.9%	122,5 M €
Total assets	97,3 M €	+2.5%	95 M €	-2.2%	97,1 M €	+2.2%	95,1 M €	+4.4%	91,1 M €	+0.2%	90,9 M €	+5.1%	86,5 M €	+7.0%	80,9 M €	+21.3%	66,7 M €	+28.1%	52,1 M €	+7.2%	48,6 M €	-0.8%	49 M €	-1.0%	49,5 M €	-26.7%	67,5 M €	-48.4%	130,7 M €	-2.3%	133,8 M €	+1.6%	131,7 M €	+1.1%	130,3 M €	+1.3%	128,6 M €	+1.1%	127,2 M €
Cash	1,9 M €	-83.6%	11,7 M €	+515%	1,9 M €	-85.1%	12,8 M €	+51.6%	8,4 M €	-39.4%	13,9 M €	+16.1%	12 M €	+28.4%	9,3 M €	+110%	4,4 M €	+26832%	16,5 k €	-98.6%	1,2 M €	-26.1%	1,6 M €	-20.0%	2 M €	-13.8%	2,3 M €	+1787%	120,2 k €	+114%	56,1 k €	+959%	5,3 k €	-73.9%	20,3 k €	-38.0%	32,8 k €	+766%	3,8 k €
Debts	29,5 M €	+35.8%	21,7 M €	-18.6%	26,7 M €	+0.1%	26,7 M €	+17.1%	22,8 M €	-8.0%	24,7 M €	+9.0%	22,7 M €	+16.9%	19,4 M €	+20.1%	16,2 M €	+413%	3,2 M €	+276%	837,1 k €	-4.4%	875,4 k €	-11.1%	985 k €	-0.2%	987,2 k €	+0.1%	986,1 k €	-43.9%	1,8 M €	+2.1%	1,7 M €	-22.7%	2,2 M €	-3.4%	2,3 M €	-42.6%	4 M €
Other
Workforce	81,8 ETP	+0.9%	81,1 ETP	+1.9%	79,6 ETP	-4.7%	83,5 ETP	+1.0%	82,7 ETP	+11.0%	74,5 ETP	+4.5%	71,3 ETP	+5.2%	67,8 ETP	+8.0%	62,8 ETP	+3825%	1,6 ETP	0.0%	1,6 ETP	0.0%	1,6 ETP	-11.1%	1,8 ETP	-10.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	-9.1%	2,2 ETP	-26.7%	3,0 ETP	-16.7%	3,6 ETP	-10.0%	4,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 10 active · 83 ended

Active mandates

BEVER CONSULTING

Director · since 22 octobre 2025 · until 10 mai 2028 · 0883.695.635

Represented by Els Degroote

Active

BVJS

Director · since 22 octobre 2025 · until 10 mai 2028 · 0764.944.374

Represented by Ben Jansen

Active

Katrien Mattelaer

Director · since 22 octobre 2025 · until 10 mai 2028

Active

FOVEA

Director · since 14 mai 2025 · until 22 octobre 2025 · 0892.568.165

Represented by vaste vertegenwoordiger Degrieck Katya

Active

Pallanza Invest

Director · since 14 mai 2025 · until 22 octobre 2025 · 0808.186.578

Represented by vaste vertegenwoordiger Vanderstappen Geert

Active

ACORTIS

Managing director · since 10 mai 2023 · until 13 mai 2026 · 0472.845.009

Represented by Stef De corte

Active

Alexandra Leunen

Director · since 10 mai 2023 · until 22 octobre 2025

Active

ALYCHLO

Director · since 10 mai 2023 · until 22 octobre 2025 · 0895.140.645

Represented by Marc Coucke

Active

Hans Van Rijckeghem

Director · since 10 mai 2023 · until 22 octobre 2025

Active

Philippe VLERICK

Chairman of the board of directors · since 10 mai 2023 · until 13 mai 2026

Active

Ended mandates

Alexandra Leunen

Director · since 10 mai 2023 · until 13 mai 2026

Ended

ALYCHLO

Director · since 10 mai 2023 · until 13 mai 2026 · 0895.140.645

Represented by Marc Coucke

Ended

FOVEA

Director · since 10 mai 2023 · until 14 mai 2025 · 0892.568.165

Represented by vaste vertegenwoordiger Degrieck Katya

Ended

Hans Van Rijckeghem

Director · since 10 mai 2023 · until 13 mai 2026

Ended

At this address

Other companies at this address

Company	CBE no.
DBM - COLOR● Active	0402.247.617
Filmobel● Active	0408.058.709

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	05/06/2026	10/06/2025	05/06/2024	23/05/2023	06/02/2023	20/05/2021
General meeting	13/05/2026	14/05/2025	08/05/2024	10/05/2023	11/05/2022	12/05/2021
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 days

Filings

Annual accounts filings

40 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	13/05/2026	05/06/2026	Dutch	PDF
Full model	31/12/2024	14/05/2025	10/06/2025	Dutch	PDF
m120-f-p	31/12/2024	14/05/2025	20/05/2025	Dutch	PDF
Full model	31/12/2023	08/05/2024	05/06/2024	Dutch	PDF
m120-f-p	31/12/2023	08/05/2024	05/06/2024	Dutch	PDF
Full model	31/12/2022	10/05/2023	23/05/2023	Dutch	PDF
m121-f-p	31/12/2022	10/05/2023	23/05/2023	Dutch	PDF
Full modelCorrection	31/12/2021	11/05/2022	06/02/2023	Dutch	PDF
Full model	31/12/2021	11/05/2022	13/06/2022	Dutch	PDF
m120-f-p	31/12/2021	11/05/2022	13/06/2022	Dutch	PDF
Full model	31/12/2020	12/05/2021	20/05/2021	Dutch	PDF
m120-f-p	31/12/2020	01/01/9999	20/05/2021	Dutch	PDF
Full model	31/12/2019	13/05/2020	20/05/2020	Dutch	PDF
m120-f-p	31/12/2019	13/05/2020	19/05/2020	Dutch	PDF
Full model	31/12/2018	08/05/2019	14/05/2019	Dutch	PDF
m120-f-p	31/12/2018	08/05/2019	14/05/2019	Dutch	PDF
Full model	31/12/2017	09/05/2018	17/05/2018	Dutch	PDF
m120-f-p	31/12/2017	09/05/2018	17/05/2018	Dutch	PDF
Full model	31/12/2016	10/05/2017	22/05/2017	Dutch	PDF
m120-f-p	31/12/2016	10/05/2017	22/05/2017	Dutch	PDF
Full model	31/12/2015	11/05/2016	13/05/2016	Dutch	PDF
m120-f-p	31/12/2015	11/05/2016	13/05/2016	Dutch	PDF
Full model	31/12/2014	13/05/2015	18/05/2015	Dutch	PDF
m120-f-p	31/12/2014	13/05/2015	18/05/2015	Dutch	PDF

View all 40 filings

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.

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 · 10 active · 83 ended

Active mandates

BEVER CONSULTING

Director · since 22 octobre 2025 · until 10 mai 2028 · 0883.695.635

Represented by Els Degroote

Active

BVJS

Director · since 22 octobre 2025 · until 10 mai 2028 · 0764.944.374

Represented by Ben Jansen

Active

Katrien Mattelaer

Director · since 22 octobre 2025 · until 10 mai 2028

Active

FOVEA

Director · since 14 mai 2025 · until 22 octobre 2025 · 0892.568.165

Represented by vaste vertegenwoordiger Degrieck Katya

Active

Pallanza Invest

Director · since 14 mai 2025 · until 22 octobre 2025 · 0808.186.578

Represented by vaste vertegenwoordiger Vanderstappen Geert

Active

ACORTIS

Managing director · since 10 mai 2023 · until 13 mai 2026 · 0472.845.009

Represented by Stef De corte

Active

Alexandra Leunen

Director · since 10 mai 2023 · until 22 octobre 2025

Active

ALYCHLO

Director · since 10 mai 2023 · until 22 octobre 2025 · 0895.140.645

Represented by Marc Coucke

Active

Hans Van Rijckeghem

Director · since 10 mai 2023 · until 22 octobre 2025

Active

Philippe VLERICK

Chairman of the board of directors · since 10 mai 2023 · until 13 mai 2026

Active

Ended mandates

Alexandra Leunen

Director · since 10 mai 2023 · until 13 mai 2026

Ended

ALYCHLO

Director · since 10 mai 2023 · until 13 mai 2026 · 0895.140.645

Represented by Marc Coucke

Ended

FOVEA

Director · since 10 mai 2023 · until 14 mai 2025 · 0892.568.165

Represented by vaste vertegenwoordiger Degrieck Katya

Ended

Hans Van Rijckeghem

Director · since 10 mai 2023 · until 13 mai 2026

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates14/09/2026
Benoeming bestuurders en commissaris
PDF
Other18/12/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN
PDF
Mandates07/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares02/06/2022
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates02/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares31/05/2018
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 20251,5 M €↓
22/10/2025
nominationEls Degroote — bestuurder
22/10/2025
nominationBen Jansen — bestuurder
22/10/2025
nominationKatrien Mattelaer — bestuurder
14/05/2025
reconductionPallanza Invest BV — bestuurder
14/05/2025
reconductionFovea BV — bestuurder
2024
Annual accounts 20242,8 M €↓
2023
Annual accounts 20235,7 M €↑
10/05/2023
reconductionPhilippe Vlerick — bestuurder
10/05/2023
reconductionStef De corte — bestuurder
10/05/2023
reconductionGeert Vanderstappen — bestuurder
10/05/2023
reconductionHans Van Rijckeghem — bestuurder
10/05/2023
reconductionMarc Coucke — bestuurder
10/05/2023
reconductionAlexandra Leunen — bestuurder
10/05/2023
reconductionKatya Degrieck — bestuurder
10/05/2023
nominationCharlotte Vanrobaeys — Commissaris
10/05/2023
reconductionStef De corte — gedelegeerd bestuurder
10/05/2023
reconductionPhilippe Vlerick — Voorzitter van de Raad van Bestuur
2022
Annual accounts 20223,8 M €↓
2021
Annual accounts 20214,5 M €↓
2020
Annual accounts 20204,6 M €↑
2019
Annual accounts 20194,5 M €↓
2018
Annual accounts 201812,9 M €↑
2017
Annual accounts 20171,5 M €↑
2016
Annual accounts 2016-926,1 k €↓
2015
Annual accounts 2015-324,3 k €↑
2014
Annual accounts 2014-423,3 k €↑
2014
Name changeSMARTPHOTO GROUP
2013
Annual accounts 2013-18 M €↑
2012
Annual accounts 2012-63,3 M €↓
2011
Annual accounts 2011-2,3 M €↓
2010
Annual accounts 20102,2 M €↑
2009
Annual accounts 20092 M €↑
2008
Annual accounts 20081,8 M €↓
2007
Annual accounts 20073,6 M €↑
2007
Name changeSPECTOR PHOTO GROUP
2006
Annual accounts 2006-8,8 M €
01/01/1968
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

Smartphoto group

Overview

What does Smartphoto group do?

Trend over 20 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