ACTIVE

KORAAL

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Financial year 2025 · closed on 31/12/2025

Net result

259,6 k €

-53.1% YoY

Revenue

981,7 k €

-7.1% YoY

Equity

11 M €

+1.7% YoY

Workforce

117,7 ETP

+4.6% YoY

What does KORAAL do?

KORAAL is a Non-profit organization incorporated in 1934. Its main activity is: General secondary education. Its registered office is in Antwerpen. It employs on average 117,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0408.499.464

Incorporation

04/07/1934

Legal form

Non-profit organization

Registered office

Otto Veniusstraat 20
2000 Antwerpen · FlandreSee on map

Latest accounts

31/12/2025

Average workforce

117,7 ETP

Activities (NACE)

85313General secondary education· main 87901Other residential care activities 87991Other residential care activities

Joint committees (3)

31901
32901
331

Contacts

3 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	981,7 k €	-7.1%	1,1 M €	+0.6%	1,1 M €	+37.3%	765,5 k €	+20.3%	636,5 k €	+44.2%	441,5 k €	-46.0%	817,6 k €	+6.4%	768,8 k €	+4.5%	735,6 k €	+45.3%	506,3 k €	+8.2%	467,9 k €	-1.7%	476,2 k €	+8.4%	439,2 k €	-7.2%	473,4 k €	+21.3%	390,1 k €	+9.0%	357,9 k €	-4.5%	374,6 k €	+6.9%	350,6 k €	+4.4%	335,9 k €
EBITDA	377,7 k €	-48.2%	728,5 k €	+144%	298,2 k €	+281%	-164,7 k €	-227%	129,2 k €	-59.6%	319,6 k €	+51.7%	210,7 k €	+20.7%	174,5 k €	-23.2%	227,1 k €	+109%	108,9 k €	-63.0%	294 k €	-26.1%	397,8 k €	-7.9%	432 k €	+120%	196,3 k €	+837%	-26,6 k €	+71.7%	-94,2 k €	-170%	134 k €	+14.0%	117,6 k €	+98.9%	59,1 k €
Operating result	-81,1 k €	-130%	274,1 k €	+260%	-171,1 k €	+67.4%	-524,6 k €	-238%	-155,3 k €	-3095%	-4,9 k €	+95.0%	-97,3 k €	+29.0%	-136,9 k €	-69.4%	-80,8 k €	+56.1%	-183,9 k €	-408%	59,6 k €	-64.2%	166,5 k €	-16.7%	199,9 k €	+1175%	-18,6 k €	+92.0%	-232,7 k €	+23.2%	-303,1 k €	-328%	-70,8 k €	+22.0%	-90,8 k €	+30.1%	-129,9 k €
Net result	259,6 k €	-53.1%	553,9 k €	+476%	96,1 k €	+112%	-771,5 k €	-2251%	35,9 k €	-41.2%	60,9 k €	+32.8%	45,9 k €	+126%	-176,9 k €	-213%	-56,6 k €	-141%	137,6 k €	-61.8%	360,5 k €	+8.8%	331,3 k €	-45.7%	610,6 k €	-25.8%	823,4 k €	+352%	-326,3 k €	-383%	-67,6 k €	-112%	559,9 k €	+197%	-574,8 k €	-150%	-229,9 k €
Balance sheet
Equity	11 M €	+1.7%	10,8 M €	+4.6%	10,3 M €	+0.7%	10,3 M €	-4.9%	10,8 M €	+18.3%	9,1 M €	+0.7%	9,1 M €	+0.5%	9 M €	-1.9%	9,2 M €	-0.6%	9,3 M €	+1.5%	9,1 M €	+4.1%	8,8 M €	+3.9%	8,4 M €	+7.8%	7,8 M €	+11.8%	7 M €	-4.5%	7,3 M €	-0.9%	7,4 M €	+8.2%	6,8 M €	-7.8%	7,4 M €
Total assets	12,8 M €	+0.5%	12,7 M €	+3.3%	12,3 M €	+0.6%	12,2 M €	-5.3%	12,9 M €	+32.0%	9,8 M €	+1.2%	9,7 M €	+1.2%	9,5 M €	-2.9%	9,8 M €	-1.9%	10 M €	+2.8%	9,7 M €	+4.3%	9,3 M €	+4.2%	9 M €	+8.9%	8,2 M €	+11.2%	7,4 M €	-3.8%	7,7 M €	-0.7%	7,8 M €	+7.5%	7,2 M €	-7.2%	7,8 M €
Cash	38,5 k €	-86.5%	284,6 k €	+1530%	17,5 k €	-98.5%	1,2 M €	-9.1%	1,3 M €	+49.9%	879,6 k €	+20.7%	728,5 k €	+18.7%	613,7 k €	-9.5%	678,4 k €	+176%	245,9 k €	-70.8%	842,1 k €	-28.7%	1,2 M €	+56.6%	754,7 k €	-41.4%	1,3 M €	+203%	424,3 k €	-20.5%	533,5 k €	+36.7%	390,3 k €	+315%	94 k €	+5.3%	89,2 k €
Debts	1,7 M €	-5.2%	1,8 M €	-4.2%	1,9 M €	-2.1%	2 M €	-7.2%	2,1 M €	+240%	619 k €	+9.9%	563,1 k €	+17.7%	478,4 k €	-16.8%	574,9 k €	-16.5%	688,4 k €	+11.3%	618,3 k €	+8.0%	572,5 k €	+7.4%	533,1 k €	+47.0%	362,8 k €	-4.5%	379,9 k €	+6.3%	357,4 k €	+3.7%	344,6 k €	-0.6%	346,6 k €	+4.4%	331,9 k €
Other
Workforce	117,7 ETP	+4.6%	112,5 ETP	+1.4%	111,0 ETP	+1.9%	108,9 ETP	+18.2%	92,1 ETP	+0.2%	91,9 ETP	+4.4%	88,0 ETP	+0.9%	87,2 ETP	-2.8%	89,7 ETP	+21.2%	74,0 ETP	+17.1%	63,2 ETP	-2.9%	65,1 ETP	+5.2%	61,9 ETP	-16.6%	74,2 ETP	+0.1%	74,1 ETP	+5.1%	70,5 ETP	+1.0%	69,8 ETP	-0.3%	70,0 ETP	+0.4%	69,7 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 8 active · 63 ended

Active mandates

An Van de Capelle

Mandate

Active

Charles Leclef

Mandate

Active

Jean Jacques Leclef

Mandate

Active

Jeroen Dewinter

Mandate

Active

Maria Goossens

Mandate

Active

Marijke Decleer

Mandate

Active

Olivier Verhoustraeten

Mandate

Active

Thierry Goor

Mandate

Active

Ended mandates

Jean Jacques Leclef

Director · since 01 mai 2021 · until 30 avril 2024

Ended

Jeroen Dewinter

Mandate · since 25 avril 2019 · until 25 avril 2022

Ended

Jeroen Dewinter

Director · since 25 avril 2019 · until 25 avril 2022

Ended

Jeroen Dewinter

Managing director · since 25 avril 2019 · until 25 avril 2022

Ended

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	11/05/2026	19/05/2025	16/05/2024	30/05/2023	25/05/2022	19/05/2021
General meeting	06/05/2026	07/05/2025	15/05/2024	10/05/2023	27/04/2022	28/04/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	06/05/2026	11/05/2026	Dutch	PDF
Full model	31/12/2024	07/05/2025	19/05/2025	Dutch	PDF
Full model	31/12/2023	15/05/2024	16/05/2024	Dutch	PDF
Full model	31/12/2022	10/05/2023	30/05/2023	Dutch	PDF
Full model	31/12/2021	27/04/2022	25/05/2022	Dutch	PDF
Full model	31/12/2020	28/04/2021	19/05/2021	Dutch	PDF
Full model	31/12/2019	19/05/2020	11/06/2020	Dutch	PDF
Full model	31/12/2018	24/04/2019	09/05/2019	Dutch	PDF
Full model	31/12/2017	25/04/2018	02/05/2018	Dutch	PDF
Full model	31/12/2016	26/04/2017	12/05/2017	Dutch	PDF
Full model	31/12/2015	27/04/2016	20/05/2016	Dutch	PDF
Full model	31/12/2014	22/04/2015	04/05/2015	Dutch	PDF
Full model	31/12/2013	23/04/2014	12/05/2014	Dutch	PDF
Full model	31/12/2012	24/04/2013	29/04/2013	Dutch	PDF
Full model	31/12/2011	25/04/2012	14/05/2012	Dutch	PDF
Full model	31/12/2010	27/04/2011	25/05/2011	Dutch	PDF
Full model	31/12/2009	28/04/2010	11/05/2010	Dutch	PDF
Full model	31/12/2008	22/04/2009	23/04/2009	Dutch	PDF
Full model	31/12/2007	18/04/2008	22/05/2008	Dutch	PDF
Full model	31/12/2006	22/05/2007	19/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 8 active · 63 ended

Active mandates

An Van de Capelle

Mandate

Active

Charles Leclef

Mandate

Active

Jean Jacques Leclef

Mandate

Active

Jeroen Dewinter

Mandate

Active

Maria Goossens

Mandate

Active

Marijke Decleer

Mandate

Active

Olivier Verhoustraeten

Mandate

Active

Thierry Goor

Mandate

Active

Ended mandates

Jean Jacques Leclef

Director · since 01 mai 2021 · until 30 avril 2024

Ended

Jeroen Dewinter

Mandate · since 25 avril 2019 · until 25 avril 2022

Ended

Jeroen Dewinter

Director · since 25 avril 2019 · until 25 avril 2022

Ended

Jeroen Dewinter

Managing director · since 25 avril 2019 · until 25 avril 2022

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/06/2022
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates26/08/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Other10/01/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates23/12/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/05/2019
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 2025259,6 k €↓
2024
Annual accounts 2024553,9 k €↑
2023
Annual accounts 202396,1 k €↑
2022
Annual accounts 2022-771,5 k €↓
2021
Annual accounts 202135,9 k €↓
2020
Annual accounts 202060,9 k €↑
2019
Annual accounts 201945,9 k €↑
2018
Annual accounts 2018-176,9 k €↓
2017
Annual accounts 2017-56,6 k €↓
2016
Annual accounts 2016137,6 k €↓
2015
Annual accounts 2015360,5 k €↑
2014
Annual accounts 2014331,3 k €↓
2013
Annual accounts 2013610,6 k €↓
2012
Annual accounts 2012823,4 k €↑
2011
Annual accounts 2011-326,3 k €↓
2010
Annual accounts 2010-67,6 k €↓
2009
Annual accounts 2009559,9 k €↑
2008
Annual accounts 2008-574,8 k €↓
2007
Annual accounts 2007-229,9 k €
04/07/1934
IncorporationNon-profit organization

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

KORAAL

Overview

What does KORAAL do?

Trend over 19 financial years

Indicative valuation

Board of directors

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