ACTIVE

ADEM

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Financial year 2025 · closed on 31/12/2025

Net result

-360,8 k €

-84.0% YoY

Revenue

961,9 k €

+12.9% YoY

Equity

5,7 M €

-5.3% YoY

Workforce

209,1 ETP

+1.4% YoY

What does ADEM do?

ADEM is a Non-profit organization incorporated in 1967. Its main activity is: General secondary education. Its registered office is in Bierbeek. It employs on average 209,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0410.147.375

Incorporation

10/11/1967

Legal form

Non-profit organization

Registered office

Klein Park 1
3360 Bierbeek · FlandreSee on map

Latest accounts

31/12/2025

Average workforce

209,1 ETP

Activities (NACE)

85311General secondary education· main 87201Residential care activities for mental retardation, mental health and substance abuse 87201Residential care activities for mental retardation, mental health and substance abuse 87202Residential care activities for mental retardation, mental health and substance abuse 87202Residential care activities for mental retardation, mental health and substance abuse

Joint committees (1)

Signals

Solid equityLow riskPositive 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	961,9 k €	+12.9%	851,9 k €	+2.2%	833,3 k €	+14.8%	725,9 k €	+3.6%	700,9 k €	+3.8%	675,1 k €	-3.8%	701,8 k €	+1.9%	688,8 k €	+3.1%	668,3 k €	+3.0%	649,1 k €	+2.4%	633,9 k €	+1.3%	625,5 k €	+2.0%	613,2 k €	+1.7%	602,8 k €	+1.8%	592,1 k €	+4.0%	569,4 k €	+7.9%	527,7 k €	+2.3%	516 k €	+6.0%	486,9 k €
EBITDA	353,1 k €	-11.6%	399,5 k €	-16.3%	477,3 k €	-7.2%	514,6 k €	-48.0%	990,6 k €	+27.7%	775,5 k €	-16.3%	926,7 k €	+3.3%	897 k €	+31.6%	681,5 k €	+12.3%	607 k €	+2.8%	590,3 k €	+98.7%	297,1 k €	+11.3%	266,8 k €	-29.2%	377 k €	-1.7%	383,6 k €	-10.7%	429,8 k €	+2.7%	418,3 k €	-12.2%	476,4 k €	+52.9%	311,7 k €
Operating result	-315,7 k €	-68.6%	-187,3 k €	-59.4%	-117,5 k €	-112%	-55,5 k €	-112%	467,2 k €	+65.9%	281,6 k €	-31.4%	410,8 k €	+7.3%	382,9 k €	+109%	182,8 k €	-14.0%	212,5 k €	+3.2%	206 k €	+645%	-37,8 k €	+37.5%	-60,4 k €	-190%	67,5 k €	-10.8%	75,6 k €	-1.4%	76,7 k €	-4.7%	80,5 k €	-35.9%	125,4 k €	+356%	-49 k €
Net result	-360,8 k €	-84.0%	-196 k €	-54.2%	-127,1 k €	-77.9%	-71,4 k €	-116%	456,5 k €	+68.8%	270,5 k €	-41.7%	464,3 k €	+23.3%	376,5 k €	+133%	161,6 k €	-8.2%	176 k €	+10.3%	159,5 k €	+830%	-21,8 k €	+70.0%	-72,7 k €	-183%	87,3 k €	+21.0%	72,1 k €	-52.0%	150,4 k €	+48.3%	101,4 k €	-46.9%	190,9 k €	+632%	-35,9 k €
Balance sheet
Equity	5,7 M €	-5.3%	6 M €	+1.4%	6 M €	-2.3%	6,1 M €	-3.8%	6,3 M €	+3.7%	6,1 M €	+0.6%	6,1 M €	+3.9%	5,9 M €	+2.4%	5,7 M €	-1.4%	5,8 M €	+0.2%	5,8 M €	+36.2%	4,2 M €	-3.9%	4,4 M €	-3.8%	4,6 M €	+32.8%	3,5 M €	-1.0%	3,5 M €	+1.3%	3,4 M €	+24.0%	2,8 M €	+4.8%	2,7 M €
Total assets	12,4 M €	+15.4%	10,8 M €	-2.2%	11 M €	+1.6%	10,8 M €	+2.4%	10,6 M €	+2.2%	10,3 M €	+2.2%	10,1 M €	+7.1%	9,4 M €	+0.5%	9,4 M €	-3.4%	9,7 M €	-1.3%	9,8 M €	+18.9%	8,3 M €	+9.1%	7,6 M €	+1.2%	7,5 M €	+19.8%	6,3 M €	-2.6%	6,4 M €	+3.9%	6,2 M €	+6.2%	5,8 M €	-10.0%	6,5 M €
Cash	2 M €	-22.7%	2,6 M €	-35.3%	4 M €	+24.3%	3,2 M €	-7.3%	3,5 M €	+64.5%	2,1 M €	+32.4%	1,6 M €	+25.6%	1,3 M €	+22.2%	1 M €	-33.6%	1,6 M €	-42.8%	2,8 M €	+26.2%	2,2 M €	+29.5%	1,7 M €	+24.5%	1,4 M €	-0.1%	1,4 M €	-18.4%	1,7 M €	+67.8%	988,8 k €	-9.5%	1,1 M €	+1365%	74,5 k €
Debts	6,7 M €	+44.0%	4,6 M €	-7.1%	5 M €	+7.2%	4,7 M €	+12.0%	4,2 M €	-0.9%	4,2 M €	+5.4%	4 M €	+13.5%	3,5 M €	-1.3%	3,5 M €	-6.0%	3,8 M €	-2.6%	3,9 M €	+1.4%	3,8 M €	+26.7%	3 M €	+7.2%	2,8 M €	+2.7%	2,7 M €	-5.5%	2,9 M €	+7.6%	2,7 M €	-9.8%	3 M €	-20.4%	3,8 M €
Other
Workforce	209,1 ETP	+1.4%	206,2 ETP	+4.1%	198,0 ETP	+3.0%	192,3 ETP	+3.6%	185,6 ETP	+0.6%	184,5 ETP	-0.5%	185,5 ETP	+3.9%	178,6 ETP	+3.4%	172,8 ETP	-0.5%	173,7 ETP	+0.1%	173,5 ETP	-2.3%	177,6 ETP	+4.4%	170,1 ETP	-1.5%	172,7 ETP	+8.8%	158,8 ETP	-0.2%	159,1 ETP	+0.6%	158,2 ETP	+2.4%	154,5 ETP	-2.1%	157,8 ETP

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 · 9 active · 70 ended

Active mandates

Hans Vertommen

Director · since 26 juin 2026 · until 30 juin 2031

Active

Ann Gaublomme

Director · since 27 février 2026 · until 30 juin 2031

Active

Christa Claessens

Director · since 27 février 2026 · until 30 juin 2031

Active

Joseph Vaneygen

Vice-chairman of the board of directors · since 28 juin 2025 · until 27 juin 2028

Active

Gilbert Verbinnen

Chairman of the board of directors · since 28 juin 2024 · until 28 juin 2028

Active

Inez Vandenbussche

Director · since 28 juin 2024 · until 28 juin 2028

Active

Martine De Wulf

Director · since 30 juin 2023 · until 30 juin 2027

Active

Roger Vermaerke

Director · since 30 juin 2023 · until 30 juin 2027

Active

Yvan Verbakel

Director · since 30 juin 2023 · until 30 juin 2027

Active

Ended mandates

Theo Mineur

Director · since 30 juin 2023 · until 30 juin 2027

Ended

Theo Mineur

Director · since 18 décembre 2022 · until 18 décembre 2027

Ended

Theo Mineur

Director · since 18 décembre 2022 · until 30 juin 2028

Ended

Yvan Verbakel

Director · since 18 décembre 2022 · until 18 décembre 2027

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	30/06/2026	30/06/2025	28/06/2024	04/10/2023	27/06/2022	02/08/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	30/06/2023	24/06/2022	29/06/2021
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

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Filings

Annual accounts filings

24 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/06/2026	30/06/2026	Dutch	PDF
Full model	31/12/2024	27/06/2025	30/06/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	28/06/2024	Dutch	PDF
Full modelCorrection	31/12/2022	30/06/2023	04/10/2023	Dutch	PDF
Full model	31/12/2022	30/06/2023	30/06/2023	Dutch	PDF
Full model	31/12/2021	24/06/2022	27/06/2022	Dutch	PDF
Full modelCorrection	31/12/2020	29/06/2021	02/08/2021	Dutch	PDF
Full model	31/12/2020	29/06/2021	30/06/2021	Dutch	PDF
Full modelCorrection	31/12/2019	04/09/2020	26/10/2020	Dutch	PDF
Full model	31/12/2019	04/09/2020	07/09/2020	Dutch	PDF
Full model	31/12/2018	18/06/2019	20/06/2019	Dutch	PDF
Full model	31/12/2017	29/05/2018	20/06/2018	Dutch	PDF
Full model	31/12/2016	30/05/2017	12/06/2017	Dutch	PDF
Full model	31/12/2015	24/05/2016	14/06/2016	Dutch	PDF
Full model	31/12/2014	02/06/2015	05/06/2015	Dutch	PDF
Full model	31/12/2013	27/05/2014	02/06/2014	Dutch	PDF
Full model	31/12/2012	14/05/2013	05/06/2013	Dutch	PDF
Full model	31/12/2011	22/05/2012	18/06/2012	Dutch	PDF
Full model	31/12/2010	24/05/2011	25/05/2011	Dutch	PDF
Full model	31/12/2009	01/06/2010	02/06/2010	Dutch	PDF
Full model	31/12/2008	09/06/2009	16/06/2009	Dutch	PDF
Full model	31/12/2007	13/05/2008	03/06/2008	Dutch	PDF
Full modelCorrection	31/12/2006	15/05/2007	04/09/2007	Dutch	PDF
Full model	31/12/2006	15/05/2007	14/06/2007	Dutch	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 · 9 active · 70 ended

Active mandates

Hans Vertommen

Director · since 26 juin 2026 · until 30 juin 2031

Active

Ann Gaublomme

Director · since 27 février 2026 · until 30 juin 2031

Active

Christa Claessens

Director · since 27 février 2026 · until 30 juin 2031

Active

Joseph Vaneygen

Vice-chairman of the board of directors · since 28 juin 2025 · until 27 juin 2028

Active

Gilbert Verbinnen

Chairman of the board of directors · since 28 juin 2024 · until 28 juin 2028

Active

Inez Vandenbussche

Director · since 28 juin 2024 · until 28 juin 2028

Active

Martine De Wulf

Director · since 30 juin 2023 · until 30 juin 2027

Active

Roger Vermaerke

Director · since 30 juin 2023 · until 30 juin 2027

Active

Yvan Verbakel

Director · since 30 juin 2023 · until 30 juin 2027

Active

Ended mandates

Theo Mineur

Director · since 30 juin 2023 · until 30 juin 2027

Ended

Theo Mineur

Director · since 18 décembre 2022 · until 18 décembre 2027

Ended

Theo Mineur

Director · since 18 décembre 2022 · until 30 juin 2028

Ended

Yvan Verbakel

Director · since 18 décembre 2022 · until 18 décembre 2027

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other26/08/2026
verlenging
PDF
Mandates19/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/12/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/01/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/11/2022
BENAMING - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates22/08/2022
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 2025-360,8 k €↓
2024
Annual accounts 2024-196 k €↓
2023
Annual accounts 2023-127,1 k €↓
2022
Annual accounts 2022-71,4 k €↓
2022
Name changeAdem vzw
2021
Annual accounts 2021456,5 k €↑
2020
Annual accounts 2020270,5 k €↓
2019
Annual accounts 2019464,3 k €↑
2018
Annual accounts 2018376,5 k €↑
2017
Annual accounts 2017161,6 k €↓
2016
Annual accounts 2016176 k €↑
2015
Annual accounts 2015159,5 k €↑
2014
Annual accounts 2014-21,8 k €↑
2013
Annual accounts 2013-72,7 k €↓
2012
Annual accounts 201287,3 k €↑
2011
Annual accounts 201172,1 k €↓
2010
Annual accounts 2010150,4 k €↑
2009
Annual accounts 2009101,4 k €↓
2008
Annual accounts 2008190,9 k €↑
2007
Annual accounts 2007-35,9 k €
2007
Name changeAve Regina
10/11/1967
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

ADEM

Overview

What does ADEM 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