ACTIVE

Zelpa

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Financial year 2025 · closed on 31/12/2025

Net result

56,9 k €

+118.4% YoY

Gross margin

622,3 k €

+386.3% YoY

Equity

764,3 k €

+8.0% YoY

Workforce

9,0 ETP

+16.9% YoY

What does Zelpa do?

Zelpa is a Private limited company incorporated in 1972. Its registered office is in Antwerpen. It employs on average 9,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0412.473.791

Incorporation

22/06/1972

Legal form

Private limited company

Registered office

Van Eycklei 17/3
2018 Antwerpen · FlandreSee on map

Contributed capital

57 809,62 €

Latest accounts

31/12/2025

Average workforce

9,0 ETP

Joint committees (4)

136
13600
222
22200

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	622,3 k €	+386%	128 k €	-73.4%	481,9 k €	-22.2%	619,1 k €	+0.6%	615,1 k €	+7.4%	572,9 k €	+18.9%	481,7 k €	-7.5%	520,9 k €	-2.1%	532,3 k €	+18.2%	450,4 k €	-12.9%	516,9 k €	-2.1%	528 k €	+18.7%	444,7 k €	+118%	203,5 k €	-50.2%	408,7 k €	-27.8%	566,3 k €	+24.9%	453,4 k €	-6.9%	486,9 k €
EBITDA	126,9 k €	+151%	-246,6 k €	-406%	80,7 k €	-68.3%	254,9 k €	+21.2%	210,3 k €	+59.9%	131,5 k €	+67.8%	78,4 k €	-50.6%	158,8 k €	+37.7%	115,3 k €	+25.5%	91,9 k €	-35.6%	142,7 k €	+97.1%	72,4 k €	+5113%	-1,4 k €	+99.4%	-250,6 k €	-413%	80,2 k €	-49.6%	159,1 k €	+121%	72,1 k €	+10.3%	65,4 k €
Operating result	106,5 k €	+142%	-254,9 k €	-510%	62,2 k €	-73.0%	230,3 k €	+20.2%	191,7 k €	+74.3%	110 k €	+157%	42,7 k €	-70.2%	143,4 k €	+72.6%	83,1 k €	+67.8%	49,5 k €	-44.1%	88,5 k €	-4.1%	92,3 k €	+366%	-34,8 k €	+89.8%	-341,6 k €	-781%	50,2 k €	-36.5%	79 k €	+191%	27,1 k €	+16.8%	23,2 k €
Net result	56,9 k €	+118%	-309,3 k €	-1229%	27,4 k €	-79.7%	135,2 k €	+23.0%	109,9 k €	+60.9%	68,3 k €	+2872%	2,3 k €	-97.5%	91,6 k €	+75.4%	52,2 k €	+20.5%	43,3 k €	-29.6%	61,5 k €	-5.4%	65 k €	+332%	-28 k €	+91.9%	-347,5 k €	-690%	58,9 k €	-15.8%	70 k €	+187%	24,4 k €	+528%	-5,7 k €
Balance sheet
Equity	764,3 k €	+8.0%	707,4 k €	-35.1%	1,1 M €	+2.6%	1,1 M €	+14.6%	927,7 k €	+13.4%	817,8 k €	+9.1%	749,5 k €	+0.3%	747,2 k €	+14.0%	655,7 k €	+8.6%	603,5 k €	+7.7%	560,2 k €	+12.3%	498,7 k €	+15.0%	433,7 k €	-6.1%	461,7 k €	-42.9%	809,2 k €	+6.9%	757,1 k €	+1.3%	747,1 k €	+3.4%	722,7 k €
Total assets	2,6 M €	+11.5%	2,4 M €	+23.2%	1,9 M €	-3.2%	2 M €	-0.3%	2 M €	+6.4%	1,9 M €	-5.5%	2 M €	-16.0%	2,3 M €	+20.1%	1,9 M €	-1.3%	2 M €	+14.1%	1,7 M €	+0.6%	1,7 M €	+7.2%	1,6 M €	+5.8%	1,5 M €	-9.2%	1,7 M €	+19.2%	1,4 M €	-4.5%	1,5 M €	-5.3%	1,5 M €
Cash	152,4 k €	+591%	22 k €	+479%	3,8 k €	-80.9%	20 k €	-87.0%	153,2 k €	+228%	46,7 k €	-56.6%	107,6 k €	+114%	50,4 k €	+2813%	1,7 k €	-95.2%	36,4 k €	+40.4%	25,9 k €	+824%	2,8 k €	+33.2%	2,1 k €	-83.4%	12,7 k €	-36.3%	19,9 k €	-82.4%	113,1 k €	+45.7%	77,6 k €	+36.7%	56,8 k €
Debts	1,9 M €	+13.7%	1,6 M €	+101%	812,1 k €	-9.7%	899,5 k €	-12.8%	1 M €	-0.7%	1 M €	-14.0%	1,2 M €	-23.6%	1,6 M €	+23.4%	1,3 M €	-5.4%	1,4 M €	+17.4%	1,2 M €	-4.0%	1,2 M €	+3.2%	1,2 M €	+11.2%	1 M €	+22.0%	859,4 k €	+33.9%	641,7 k €	-9.8%	711,3 k €	-12.7%	815 k €
Other
Workforce	9,0 ETP	+16.9%	7,7 ETP	+4.1%	7,4 ETP	0.0%	7,4 ETP	-8.6%	8,1 ETP	-12.0%	9,2 ETP	+4.5%	8,8 ETP	+15.8%	7,6 ETP	-9.5%	8,4 ETP	+5.0%	8,0 ETP	+3.9%	7,7 ETP	-11.5%	8,7 ETP	-6.5%	9,3 ETP	+3.3%	9,0 ETP	+18.4%	7,6 ETP	-20.8%	9,6 ETP	-10.3%	10,7 ETP	+7.0%	10,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 39 ended

Active mandates

Esther Breuer

Mandate

Active

Marcel Gros

Mandate

Active

Samuel Gros

Mandate

Active

Ended mandates

Bat-Seba Kunststadt

Director · since 17 mai 2019 · until 17 mai 2025

Ended

Esther Breuer

Director · since 17 mai 2019 · until 17 mai 2025

Ended

Marcel Gros

Managing director · since 17 mai 2019 · until 17 mai 2025

Ended

Samuel Gros

Director · since 17 mai 2019 · until 17 mai 2025

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	18/06/2026	12/06/2025	11/06/2024	13/06/2023	02/06/2022	25/05/2021
General meeting	01/06/2026	15/05/2025	15/05/2024	15/05/2023	15/05/2022	15/05/2021
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

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	01/06/2026	18/06/2026	Dutch	PDF
Abridged model	31/12/2024	15/05/2025	12/06/2025	Dutch	PDF
Abridged model	31/12/2023	15/05/2024	11/06/2024	Dutch	PDF
Abridged model	31/12/2022	15/05/2023	13/06/2023	Dutch	PDF
Abridged model	31/12/2021	15/05/2022	02/06/2022	Dutch	PDF
Abridged model	31/12/2020	15/05/2021	25/05/2021	Dutch	PDF
Abridged modelCorrection	31/12/2019	15/05/2020	26/11/2020	Dutch	PDF
Abridged model	31/12/2019	15/05/2020	05/06/2020	Dutch	PDF
Abridged model	31/12/2018	15/05/2019	12/06/2019	Dutch	PDF
Abridged model	31/12/2017	15/05/2018	28/05/2018	Dutch	PDF
Abridged model	31/12/2016	31/05/2017	22/06/2017	Dutch	PDF
Abridged model	31/12/2015	17/05/2016	13/06/2016	Dutch	PDF
Abridged model	31/12/2014	15/05/2015	20/05/2015	Dutch	PDF
Abridged model	31/12/2013	15/05/2014	03/06/2014	Dutch	PDF
Abridged model	31/12/2012	15/05/2013	24/06/2013	Dutch	PDF
Abridged model	31/12/2011	15/05/2012	11/06/2012	Dutch	PDF
Abridged model	31/12/2010	16/05/2011	09/06/2011	Dutch	PDF
Abridged model	31/12/2009	28/06/2010	29/07/2010	Dutch	PDF
Abridged model	31/12/2008	11/05/2009	02/07/2009	Dutch	PDF
Abridged model	31/12/2007	15/05/2008	23/06/2008	Dutch	PDF
Abridged model	31/12/2006	19/05/2007	06/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 3 active · 39 ended

Active mandates

Esther Breuer

Mandate

Active

Marcel Gros

Mandate

Active

Samuel Gros

Mandate

Active

Ended mandates

Bat-Seba Kunststadt

Director · since 17 mai 2019 · until 17 mai 2025

Ended

Esther Breuer

Director · since 17 mai 2019 · until 17 mai 2025

Ended

Marcel Gros

Managing director · since 17 mai 2019 · until 17 mai 2025

Ended

Samuel Gros

Director · since 17 mai 2019 · until 17 mai 2025

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring08/10/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - KAPITAAL - AANDELEN
PDF
Restructuring28/05/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates16/04/2024
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Registered office27/03/2024
MAATSCHAPPELIJKE ZETEL
PDF
Mandates06/07/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Registered office04/06/2020
MAATSCHAPPELIJKE ZETEL
PDF
Mandates18/06/2019
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 202556,9 k €↑
2024
Annual accounts 2024-309,3 k €↓
2023
Annual accounts 202327,4 k €↓
2022
Annual accounts 2022135,2 k €↑
2021
Annual accounts 2021109,9 k €↑
2020
Annual accounts 202068,3 k €↑
2019
Annual accounts 20192,3 k €↓
2018
Annual accounts 201891,6 k €↑
2017
Annual accounts 201752,2 k €↑
2016
Annual accounts 201643,3 k €↓
2015
Annual accounts 201561,5 k €↓
2014
Annual accounts 201465 k €↑
2013
Annual accounts 2013-28 k €↑
2012
Annual accounts 2012-347,5 k €↓
2011
Annual accounts 201158,9 k €↓
2010
Annual accounts 201070 k €↑
2009
Annual accounts 200924,4 k €↑
2008
Annual accounts 2008-5,7 k €
22/06/1972
IncorporationPrivate 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

Zelpa

Overview

What does Zelpa do?

Trend over 18 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