ACTIVE

MANDOLINE

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

420,7 k €

+29.1% YoY

Gross margin

611,1 k €

+14.2% YoY

Equity

2,7 M €

-38.1% YoY

What does MANDOLINE do?

MANDOLINE is a Public limited company incorporated in 1967. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0406.493.346

Incorporation

17/07/1967

Legal form

Public limited company

Registered office

Jodenstraat 10
2000 Antwerpen · FlandreSee on map

Contributed capital

2 200 000,00 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDA

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 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	611,1 k €	+14.2%	535 k €	-27.6%	739,1 k €	+52.2%	485,5 k €	-24.2%	640,5 k €	+24.4%	515 k €	-11.8%	583,7 k €	+75.2%	333,2 k €	-25.6%	447,9 k €	-18.2%	547,5 k €	+7.1%	511,4 k €	-1.1%	517,1 k €	+17.3%	440,7 k €	+11.2%	396,3 k €	+374%	83,5 k €	-72.2%	300,9 k €	+8.8%	276,5 k €	-9.2%	304,5 k €	-15.6%	360,7 k €
EBITDA	567 k €	+15.2%	492,2 k €	-29.5%	697,8 k €	+55.8%	447,9 k €	-25.8%	603,7 k €	+26.1%	478,7 k €	-12.9%	549,9 k €	+83.3%	300,1 k €	-27.8%	415,4 k €	-19.2%	513,9 k €	+7.6%	477,6 k €	+1.2%	471,7 k €	+20.8%	390,4 k €	+12.9%	345,6 k €	+957%	32,7 k €	-86.5%	242,9 k €	+6.0%	229,1 k €	-11.1%	257,7 k €	-17.4%	312 k €
Operating result	493,2 k €	+31.7%	374,5 k €	-28.8%	526,2 k €	+94.5%	270,6 k €	-36.5%	426,4 k €	+41.5%	301,4 k €	-17.9%	367,3 k €	+218%	115,5 k €	-50.7%	234 k €	-29.5%	332 k €	+12.2%	295,9 k €	+3.0%	287,4 k €	+35.3%	212,5 k €	+26.8%	167,6 k €	+214%	-147,3 k €	-597%	29,6 k €	+729%	-4,7 k €	-132%	14,6 k €	-69.0%	47,1 k €
Net result	420,7 k €	+29.1%	326 k €	-27.2%	447,7 k €	+76.3%	253,9 k €	-28.9%	356,9 k €	+46.5%	243,6 k €	+21.5%	200,5 k €	+977%	18,6 k €	-85.7%	130,6 k €	-42.7%	227,7 k €	-14.9%	267,6 k €	+15.8%	231,1 k €	+42.4%	162,3 k €	+373%	34,3 k €	+113%	-263,8 k €	-134%	770,6 k €	+641%	-142,4 k €	-16.6%	-122,1 k €	-2.3%	-119,4 k €
Balance sheet
Equity	2,7 M €	-38.1%	4,3 M €	+8.1%	4 M €	-12.0%	4,6 M €	-9.1%	5 M €	+7.6%	4,7 M €	+5.5%	4,4 M €	+4.7%	4,2 M €	+0.4%	4,2 M €	+3.2%	4,1 M €	+5.9%	3,8 M €	+7.5%	3,6 M €	+6.9%	3,3 M €	+11.0%	3 M €	+1.2%	3 M €	-8.1%	3,2 M €	+1314%	229,5 k €	-38.3%	371,9 k €	-24.7%	494 k €
Total assets	4,8 M €	+8.1%	4,4 M €	-13.0%	5,1 M €	-6.9%	5,5 M €	-3.2%	5,6 M €	-2.6%	5,8 M €	-0.3%	5,8 M €	-9.4%	6,4 M €	+1.7%	6,3 M €	+1.5%	6,2 M €	-8.4%	6,8 M €	+3.0%	6,6 M €	+6.6%	6,2 M €	-10.5%	6,9 M €	+2.9%	6,7 M €	+0.9%	6,7 M €	+183%	2,4 M €	-9.9%	2,6 M €	-12.6%	3 M €
Cash	5,4 k €	-91.0%	60,4 k €	-19.7%	75,3 k €	+39.8%	53,9 k €	-0.4%	54,1 k €	+468%	9,5 k €	+219%	3 k €	-96.5%	85,6 k €	+517%	13,9 k €	+157%	5,4 k €	+54.8%	3,5 k €	+41.6%	2,5 k €	-93.4%	37,1 k €	+3582%	1 k €	+3928%	25 €	-99.3%	3,6 k €		–		–		559 €
Debts	2,1 M €	+5862%	35,2 k €	-96.5%	1 M €	+11.6%	902,4 k €	+44.6%	624 k €	-43.9%	1,1 M €	-20.2%	1,4 M €	-30.5%	2 M €	-0.1%	2 M €	-1.7%	2 M €	-19.4%	2,5 M €	-11.0%	2,8 M €	+4.8%	2,7 M €	-27.7%	3,8 M €	+8.5%	3,5 M €	+5.4%	3,3 M €	+62.1%	2 M €	-5.3%	2,1 M €	-10.1%	2,4 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 15 ended

Active mandates

BAYFIELD

Director · since 30 mai 2026 · until 28 mai 2032 · 0464.718.288

Represented by Benoît De Surgeloose

Active

Didier De Surgeloose

Director · since 30 mai 2026 · until 28 mai 2032

Active

Ended mandates

BAYFIELD

Director · since 26 juin 2020 · until 30 mai 2026 · 0464.718.288

Represented by Benoît De Surgeloose

Ended

Didier De Surgeloose

Director · since 26 juin 2020 · until 30 mai 2026

Ended

Pierre De Surgeloose

Director · since 26 juin 2020 · until 17 mai 2023

Ended

Pierre De Surgeloose

Director · since 26 juin 2020 · until 30 mai 2026

Ended

At this address

Other companies at this address

Company	CBE no.
BAYFIELD● Active	0464.718.288
Hansa● Liquidation	0404.474.954

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Micro model	Micro model	Micro 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	24/06/2025	05/06/2024	30/08/2023	12/08/2022	22/07/2021
General meeting	30/05/2026	17/06/2025	25/05/2024	26/06/2023	01/06/2022	24/06/2021
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 days

Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/05/2026	05/06/2026	Dutch	PDF
Abridged model	31/12/2024	17/06/2025	24/06/2025	Dutch	PDF
Abridged model	31/12/2023	25/05/2024	05/06/2024	Dutch	PDF
Micro model	31/12/2022	26/06/2023	30/08/2023	Dutch	PDF
Micro model	31/12/2021	01/06/2022	12/08/2022	Dutch	PDF
Micro model	31/12/2020	24/06/2021	22/07/2021	Dutch	PDF
Micro model	31/12/2019	26/06/2020	18/09/2020	Dutch	PDF
Micro model	31/12/2018	25/05/2019	30/08/2019	Dutch	PDF
Micro model	31/12/2017	26/05/2018	20/06/2018	Dutch	PDF
Abridged model	31/12/2016	27/05/2017	12/09/2017	Dutch	PDF
Abridged model	31/12/2015	28/05/2016	27/06/2016	Dutch	PDF
Abridged modelCorrection	31/12/2014	30/05/2015	21/09/2015	Dutch	PDF
Abridged model	31/12/2014	30/05/2015	10/07/2015	Dutch	PDF
Abridged model	31/12/2013	31/05/2014	20/08/2014	Dutch	PDF
Abridged model	31/12/2012	25/05/2013	10/06/2013	French	PDF
Abridged model	31/12/2011	26/05/2012	31/07/2012	French	PDF
Abridged model	31/12/2010	28/05/2011	01/08/2011	French	PDF
Abridged model	31/12/2009	29/05/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	30/05/2009	12/08/2009	French	PDF
Abridged model	31/12/2007	31/05/2008	22/07/2008	French	PDF
Abridged model	31/12/2006	26/05/2007	29/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 31/12/2025 · 2 active · 15 ended

Active mandates

BAYFIELD

Director · since 30 mai 2026 · until 28 mai 2032 · 0464.718.288

Represented by Benoît De Surgeloose

Active

Didier De Surgeloose

Director · since 30 mai 2026 · until 28 mai 2032

Active

Ended mandates

BAYFIELD

Director · since 26 juin 2020 · until 30 mai 2026 · 0464.718.288

Represented by Benoît De Surgeloose

Ended

Didier De Surgeloose

Director · since 26 juin 2020 · until 30 mai 2026

Ended

Pierre De Surgeloose

Director · since 26 juin 2020 · until 17 mai 2023

Ended

Pierre De Surgeloose

Director · since 26 juin 2020 · until 30 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

Other06/07/2026
—
PDF
Other20/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates09/10/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/11/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/09/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/07/2013
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates27/03/2009
OBJET - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates03/07/2003
DEMISSIONS, NOMINATIONS
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 2025420,7 k €↑
2024
Annual accounts 2024326 k €↓
2023
Annual accounts 2023447,7 k €↑
2022
Annual accounts 2022253,9 k €↓
2021
Annual accounts 2021356,9 k €↑
2020
Annual accounts 2020243,6 k €↑
2019
Annual accounts 2019200,5 k €↑
2018
Annual accounts 201818,6 k €↓
2017
Annual accounts 2017130,6 k €↓
2016
Annual accounts 2016227,7 k €↓
2015
Annual accounts 2015267,6 k €↑
2014
Annual accounts 2014231,1 k €↑
2013
Annual accounts 2013162,3 k €↑
2011
Annual accounts 201134,3 k €↑
2010
Annual accounts 2010-263,8 k €↓
2009
Annual accounts 2009770,6 k €↑
2008
Annual accounts 2008-142,4 k €↓
2007
Annual accounts 2007-122,1 k €↓
2006
Annual accounts 2006-119,4 k €
17/07/1967
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

MANDOLINE

Overview

What does MANDOLINE 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