ACTIVE

STADSBADER

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Financial year 2025 · closed on 31/12/2025

Net result

27,9 M €

+3.8% YoY

Revenue

528,9 M €

+0.4% YoY

Equity

135,3 M €

+6.6% YoY

Workforce

752,1 ETP

-0.1% YoY

What does STADSBADER do?

STADSBADER is a Public limited company incorporated in 1971. Its registered office is in Harelbeke. It employs on average 752,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0407.975.466

Incorporation

01/01/1971

Legal form

Public limited company

Registered office

Kanaalstraat 1
8530 Harelbeke · FlandreSee on map

Contributed capital

2 000 000,00 €

Latest accounts

31/12/2025

Average workforce

752,1 ETP

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2022		2021		2020		2019		2018		2017		2016		2015		2014		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	528,9 M €	+0.4%	526,6 M €	+16.7%	451,2 M €	+106%	219,5 M €	-44.9%	398,4 M €	+31.7%	302,5 M €	+0.1%	302,1 M €	+10.8%	272,5 M €	+3.5%	263,4 M €	+15.0%	229 M €	+21.1%	189 M €	+42.4%	132,7 M €	-14.2%	154,7 M €	+43.4%	107,9 M €	-7.1%	116,2 M €	+39.3%	83,4 M €	-18.3%	102,1 M €	+5.4%	96,8 M €	+17.7%	82,2 M €	+11.9%	73,5 M €
EBITDA	44,8 M €	+11.6%	40,2 M €	+17.4%	34,2 M €	+123%	15,3 M €	-42.6%	26,8 M €	-0.6%	26,9 M €	+31.3%	20,5 M €	+14.4%	17,9 M €	-39.3%	29,6 M €	+100%	14,8 M €	+23.3%	12 M €	+89.3%	6,3 M €	-62.8%	17 M €	+62.9%	10,4 M €	+4.7%	9,9 M €	-29.8%	14,2 M €	+71.1%	8,3 M €	-21.4%	10,5 M €	-3.8%	11 M €	+29.0%	8,5 M €
Operating result	31,4 M €	+6.9%	29,3 M €	+21.6%	24,1 M €	+131%	10,4 M €	-43.1%	18,3 M €	-6.9%	19,7 M €	+37.9%	14,3 M €	+17.9%	12,1 M €	-52.2%	25,3 M €	+118%	11,6 M €	+16.2%	10 M €	+125%	4,4 M €	-70.1%	14,8 M €	+71.5%	8,6 M €	+14.2%	7,6 M €	-32.8%	11,2 M €	+137%	4,7 M €	-30.9%	6,9 M €	-15.5%	8,1 M €	+37.6%	5,9 M €
Net result	27,9 M €	+3.8%	26,9 M €	+31.4%	20,5 M €	-54.1%	44,5 M €	+263%	12,3 M €	-9.9%	13,6 M €	+43.5%	9,5 M €	+10.2%	8,6 M €	-67.2%	26,3 M €	+123%	11,8 M €	+18.9%	9,9 M €	+90.2%	5,2 M €	-66.6%	15,6 M €	+30.8%	11,9 M €	+54.0%	7,7 M €	-35.3%	12 M €	+282%	3,1 M €	-43.6%	5,6 M €	-24.6%	7,4 M €	+72.6%	4,3 M €
Balance sheet
Equity	135,3 M €	+6.6%	126,9 M €	-2.4%	130 M €	+8.6%	119,8 M €	+3.9%	115,2 M €	-6.3%	122,9 M €	+3.0%	119,3 M €	+8.7%	109,8 M €	-3.8%	114,2 M €	+29.9%	87,9 M €	+15.4%	76,1 M €	+15.0%	66,2 M €	-6.1%	70,5 M €	+12.8%	62,5 M €	+23.6%	50,6 M €	+18.1%	42,8 M €	+29.6%	33,1 M €	+10.5%	29,9 M €	+22.8%	24,4 M €	+41.0%	17,3 M €
Total assets	398,1 M €	+30.5%	305,1 M €	+15.9%	263,4 M €	+11.0%	237,2 M €	-6.0%	252,3 M €	+18.5%	213 M €	+5.9%	201,1 M €	+11.3%	180,7 M €	-5.0%	190,1 M €	+24.1%	153,2 M €	+10.4%	138,8 M €	+18.1%	117,5 M €	+5.7%	111,2 M €	+6.6%	104,3 M €	+3.3%	101 M €	+9.4%	92,3 M €	-5.3%	97,4 M €	+56.9%	62,1 M €	+12.2%	55,3 M €	+19.7%	46,2 M €
Cash	11 M €	-31.9%	16,1 M €	+24.9%	12,9 M €	-68.7%	41,3 M €	+77.5%	23,3 M €	-21.7%	29,7 M €	+73.4%	17,1 M €	+19.3%	14,4 M €	+10.8%	13 M €	+511%	2,1 M €	+5.4%	2 M €	+63.0%	1,2 M €	-11.6%	1,4 M €	+248%	401,6 k €	-55.9%	910 k €	+29.8%	700,9 k €	+283%	182,9 k €	+241%	53,6 k €	-81.9%	295,7 k €	-21.3%	375,5 k €
Debts	260,9 M €	+48.5%	175,7 M €	+34.9%	130,2 M €	+13.2%	115 M €	-14.8%	135,1 M €	+52.9%	88,3 M €	+9.4%	80,7 M €	+18.8%	68 M €	-7.8%	73,7 M €	+16.5%	63,3 M €	+4.0%	60,8 M €	+22.1%	49,8 M €	+30.4%	38,2 M €	-4.2%	39,9 M €	-17.4%	48,3 M €	+3.1%	46,8 M €	-23.5%	61,2 M €	+107%	29,5 M €	+3.7%	28,5 M €	+7.4%	26,5 M €
Other
Workforce	752,1 ETP	-0.1%	752,6 ETP	+4.6%	719,6 ETP	+7.7%	668,0 ETP	+2.8%	650,0 ETP	+10.4%	589,0 ETP	+5.2%	560,0 ETP	+11.1%	503,9 ETP	+15.3%	437,1 ETP	+12.0%	390,3 ETP	+5.1%	371,4 ETP	+10.1%	337,3 ETP	+9.1%	309,1 ETP	-3.1%	319,1 ETP	+7.7%	296,4 ETP	+0.5%	294,9 ETP	+3.3%	285,6 ETP	+9.2%	261,5 ETP	+18.2%	221,3 ETP	+14.0%	194,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 M€ and 1.000 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 20 ended

Active mandates

CRESCAS

Director · since 16 octobre 2025 · until 16 octobre 2031 · 0676.906.976

Represented by Anthony Casteels

Active

RUMILI

Director · since 16 octobre 2025 · until 16 octobre 2031 · 1021.970.125

Represented by Kurt Kesteloot

Active

VALQ-M

Managing director · since 16 octobre 2025 · until 16 octobre 2031 · 1028.963.726

Represented by Dominique Valcke

Active

DESIRE STADSBADER

Managing director · since 15 novembre 2023 · until 16 octobre 2025 · 0432.759.065

Represented by Dominique Valcke

Active

Ended mandates

DESIRE STADSBADER

Managing director · since 15 novembre 2023 · 0432.759.065

Represented by Dominique Valcke

Ended

D.S.R.T.

Managing director · since 21 novembre 2020 · until 21 novembre 2025 · 0878.313.818

Represented by Désiré Stadsbader

Ended

DESIRE STADSBADER

Managing director · since 21 novembre 2020 · until 21 novembre 2025 · 0432.759.065

Represented by Dominique Valcke

Ended

DESIRE STADSBADER

Managing director · since 30 juin 2014 · until 21 novembre 2020 · 0432.759.065

Represented by Dominique Valcke

Ended

At this address

Other companies at this address

Company	CBE no.
Brandweerkazerne Gent Centrum● Active	0804.672.012
De Glasfabriek● Active	1031.959.937
DESIRE STADSBADER● Active	0432.759.065
De Tijdelijke Maatschap Stadsbader VBSC● Active	0742.863.216
Dominique Valcke● Active	0898.536.338
D.S.R.T.● Active	0878.313.818
East Gate Ghent● Active	0725.781.021
IB-MAT● Active	0736.813.384
Infra-M● Active	1038.686.985
KUNSTGRASVELDEN CLUSTER 3● Active	0598.894.331
PANTHEON● Active	0471.958.547
Recydem West● Active	0734.473.508
ROS GROND● Active	0781.708.944
Sportsbuilders● Active	0682.767.459
STADION● Active	0753.673.370
Stadsbader Charity Fund● Active	0664.604.111
STADSBADER - EEG● Active	0725.590.187
Stadsbader Groep Pillar Two● Active	1019.040.032
Stadsbader Invest● Active	1015.923.065
STADSBADER-WILLY NAESSENS● Active	0660.555.350

Annual accounts

Full financial information

	2025	2024	2023	2022	2022	2021
Type of account	Full model	Full model	Full model	Full model	Full model	Consolidated accounts
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/07/2022	01/07/2021	01/07/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	30/06/2022	30/06/2021
Length of the financial year	12 months	12 months	12 months	6 months	12 months	12 months
Filing date	17/07/2026	16/07/2025	03/07/2024	11/07/2023	23/12/2022	11/05/2022
General meeting	30/06/2026	30/06/2025	28/06/2024	30/06/2023	16/12/2022	05/04/2022
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

32 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	17/07/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	16/07/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	03/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	11/07/2023	Dutch	PDF
Full model	30/06/2022	16/12/2022	23/12/2022	Dutch	PDF
Full model	30/06/2021	10/12/2021	23/12/2021	Dutch	PDF
Consolidated accounts	30/06/2021	05/04/2022	11/05/2022	Dutch	PDF
Full model	30/06/2020	10/12/2020	18/12/2020	Dutch	PDF
Consolidated accounts	30/06/2020	05/03/2021	16/03/2021	Dutch	PDF
Full model	30/06/2019	13/12/2019	20/12/2019	Dutch	PDF
Consolidated accounts	30/06/2019	15/05/2020	28/05/2020	Dutch	PDF
Full model	30/06/2018	18/12/2018	19/12/2018	Dutch	PDF
Consolidated accounts	30/06/2018	25/02/2019	27/02/2019	Dutch	PDF
Full model	30/06/2017	19/12/2017	21/12/2017	Dutch	PDF
Consolidated accountsCorrection	30/06/2017	02/03/2018	18/10/2018	Dutch	PDF
Consolidated accounts	30/06/2017	02/03/2018	20/03/2018	Dutch	PDF
Full model	30/06/2016	16/12/2016	22/12/2016	Dutch	PDF
Full model	30/06/2015	18/12/2015	18/12/2015	Dutch	PDF
Consolidated accounts	30/06/2015	20/05/2016	23/06/2016	Dutch	PDF
Full model	30/06/2014	21/11/2014	18/12/2014	Dutch	PDF
Consolidated accounts	30/06/2014	30/01/2015	27/02/2015	Dutch	PDF
Full model	31/12/2012	13/05/2013	09/07/2013	Dutch	PDF
Consolidated accounts	31/12/2012	28/06/2013	11/07/2013	Dutch	PDF
Full model	31/12/2011	11/05/2012	15/06/2012	Dutch	PDF

View all 32 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 M€ and 1.000 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 · 4 active · 20 ended

Active mandates

CRESCAS

Director · since 16 octobre 2025 · until 16 octobre 2031 · 0676.906.976

Represented by Anthony Casteels

Active

RUMILI

Director · since 16 octobre 2025 · until 16 octobre 2031 · 1021.970.125

Represented by Kurt Kesteloot

Active

VALQ-M

Managing director · since 16 octobre 2025 · until 16 octobre 2031 · 1028.963.726

Represented by Dominique Valcke

Active

DESIRE STADSBADER

Managing director · since 15 novembre 2023 · until 16 octobre 2025 · 0432.759.065

Represented by Dominique Valcke

Active

Ended mandates

DESIRE STADSBADER

Managing director · since 15 novembre 2023 · 0432.759.065

Represented by Dominique Valcke

Ended

D.S.R.T.

Managing director · since 21 novembre 2020 · until 21 novembre 2025 · 0878.313.818

Represented by Désiré Stadsbader

Ended

DESIRE STADSBADER

Managing director · since 21 novembre 2020 · until 21 novembre 2025 · 0432.759.065

Represented by Dominique Valcke

Ended

DESIRE STADSBADER

Managing director · since 30 juin 2014 · until 21 novembre 2020 · 0432.759.065

Represented by Dominique Valcke

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/03/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/10/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/04/2024
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates26/02/2024
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring17/01/2023
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates22/12/2022
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring25/11/2022
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates17/02/2021
ONTSLAGEN - BENOEMINGEN
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 202527,9 M €↑
16/10/2025
nominationVALQ-M — bestuurder
16/10/2025
nominationValcke Dominique — vaste vertegenwoordiger
16/10/2025
nominationCRESCAS — bestuurder
16/10/2025
nominationCasteels, Anthony Nicolas Charles — vaste vertegenwoordiger
16/10/2025
nominationRUMILI — bestuurder
16/10/2025
nominationKesteloot, Kurt Achiel — vaste vertegenwoordiger
2024
Annual accounts 202426,9 M €↑
29/06/2024
reconductionRoobrouck Bart — commissaris
2023
Annual accounts 202320,5 M €↓
15/11/2023
nominationDESIRE STADSBADER — enige bestuurder
15/09/2023
nominationRita Tanghe — vaste vertegenwoordiger
2022
Annual accounts 202244,5 M €↑
2022
Annual accounts 202212,3 M €↓
10/12/2021
reconductionB.V.B.A. VANDER DONCKT-ROOBROUCK-CHRISTIAENS BEDRIJFSREVISOREN — commissaris
2021
Annual accounts 202113,6 M €↑
2020
Annual accounts 20209,5 M €↑
2019
Annual accounts 20198,6 M €↓
2018
Annual accounts 201826,3 M €↑
2017
Annual accounts 201711,8 M €↑
2016
Annual accounts 20169,9 M €↑
2015
Annual accounts 20155,2 M €↓
2014
Annual accounts 201415,6 M €↑
2012
Annual accounts 201211,9 M €↑
2011
Annual accounts 20117,7 M €↓
2010
Annual accounts 201012 M €↑
2010
Name changeStadsbader NV
2009
Annual accounts 20093,1 M €↓
2008
Annual accounts 20085,6 M €↓
2007
Annual accounts 20077,4 M €↑
2006
Annual accounts 20064,3 M €
2006
Name changeDésiré Stadsbader - Flamand
01/01/1971
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

STADSBADER

Overview

What does STADSBADER 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