ACTIVE

Tsedek

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Financial year 2025 · closed on 31/12/2025

Net result

98,8 k €

-7.0% YoY

Revenue

1,5 M €

+2.7% YoY

Equity

1,7 M €

+6.0% YoY

Workforce

14,4 ETP

-5.3% YoY

What does Tsedek do?

Tsedek is a Non-profit organization incorporated in 1974. Its main activity is: General secondary education. Its registered office is in Antwerpen. It employs on average 14,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0414.565.726

Incorporation

07/11/1974

Legal form

Non-profit organization

Registered office

Bist 90
2180 Antwerpen · FlandreSee on map

Latest accounts

31/12/2025

Average workforce

14,4 ETP

Activities (NACE)

85316General secondary education· main 87909Other residential care activities 87999Other residential care activities

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2011		2010		2009		2008
Income statement
Revenue	1,5 M €	+2.7%	1,5 M €	+5.6%	1,4 M €	+4.6%	1,3 M €	+11.6%	1,2 M €	-3.9%	1,2 M €	+6.3%	1,2 M €	+1.6%	1,1 M €	+0.7%	1,1 M €	+2.7%	1,1 M €	+0.7%	1,1 M €	-0.8%	1,1 M €	-1.2%	1,1 M €	+12.8%	985,7 k €	+0.2%	983,7 k €	-4.1%	1 M €	+11.3%	922 k €
EBITDA	172,2 k €	-6.4%	184 k €	+22.5%	150,2 k €	-36.2%	235,5 k €	+319%	56,2 k €	-72.8%	206,7 k €	+55.5%	132,9 k €	+114%	62,2 k €	+21.0%	51,4 k €	-14.7%	60,3 k €	+7.9%	55,9 k €	-27.8%	77,4 k €	-26.5%	105,4 k €	-1.2%	106,6 k €	+15.9%	91,9 k €	-44.5%	165,5 k €	+175%	60,1 k €
Operating result	106,3 k €	-9.5%	117,5 k €	+38.6%	84,8 k €	-50.7%	172 k €	+2596%	-6,9 k €	-105%	143,4 k €	+109%	68,5 k €	+28.3%	53,4 k €	+21.2%	44 k €	-12.7%	50,4 k €	-16.4%	60,3 k €	+132%	26 k €	-65.1%	74,5 k €	-5.3%	78,6 k €	+22.9%	64 k €	-52.9%	135,9 k €	+385%	28,1 k €
Net result	98,8 k €	-7.0%	106,2 k €	+56.0%	68,1 k €	-55.5%	153 k €	+687%	-26,1 k €	-121%	125,4 k €	+75.6%	71,4 k €	+80.3%	39,6 k €	-1.8%	40,3 k €	+86.2%	21,7 k €	-65.2%	62,2 k €	+100%	31,1 k €	-63.6%	85,3 k €	-3.8%	88,6 k €	+28.0%	69,3 k €	-49.1%	136,1 k €	+342%	30,8 k €
Balance sheet
Equity	1,7 M €	+6.0%	1,6 M €	+6.9%	1,5 M €	+4.7%	1,5 M €	+11.7%	1,3 M €	-1.9%	1,3 M €	+10.3%	1,2 M €	+6.3%	1,1 M €	+3.6%	1,1 M €	+3.8%	1,1 M €	+2.1%	1 M €	+6.3%	977,7 k €	+3.2%	947,7 k €	+11.2%	852,2 k €	+11.5%	764,6 k €	+9.8%	696,3 k €	+24.1%	561,2 k €
Total assets	2,9 M €	+2.8%	2,8 M €	-6.8%	3 M €	+2.5%	2,9 M €	+3.9%	2,8 M €	+0.2%	2,8 M €	+11.6%	2,5 M €	+2.9%	2,4 M €	+26.9%	1,9 M €	+45.5%	1,3 M €	+8.7%	1,2 M €	+3.1%	1,2 M €	+4.5%	1,1 M €	+15.2%	978,7 k €	+3.4%	946,3 k €	+10.4%	857,2 k €	+5.0%	816,5 k €
Cash	1 M €	+33.1%	781,4 k €	-1.5%	793,3 k €	+58.8%	499,5 k €	-12.0%	567,6 k €	+17.5%	482,9 k €	+166%	181,6 k €	+296%	45,9 k €	-89.3%	426,8 k €	-28.9%	600,3 k €	+3.1%	582,3 k €	+3.9%	560,5 k €	+14.7%	488,5 k €	+29.2%	378,1 k €	+0.7%	375,2 k €	+74.2%	215,4 k €	+864%	22,3 k €
Debts	1,1 M €	-1.7%	1,1 M €	-21.2%	1,5 M €	+0.4%	1,4 M €	-3.0%	1,5 M €	+2.3%	1,5 M €	+12.7%	1,3 M €	+0.1%	1,3 M €	+58.3%	816,9 k €	+216%	258,3 k €	+55.4%	166,3 k €	-0.6%	167,3 k €	+12.5%	148,7 k €	+17.5%	126,5 k €	-9.1%	139,3 k €	+20.5%	115,6 k €	-32.0%	169,9 k €
Other
Workforce	14,4 ETP	-5.3%	15,2 ETP	+2.7%	14,8 ETP	-5.7%	15,7 ETP	-1.9%	16,0 ETP	-2.4%	16,4 ETP	+2.5%	16,0 ETP	-5.3%	16,9 ETP	+1.8%	16,6 ETP	0.0%	16,6 ETP	-0.6%	16,7 ETP	-3.5%	17,3 ETP	+6.8%	16,2 ETP	+3.2%	15,7 ETP	+2.6%	15,3 ETP	+2.7%	14,9 ETP	-6.9%	16,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 7 active · 35 ended

Active mandates

Jan Braeckmans

Director · since 06 décembre 2025 · until 06 décembre 2029

Active

Jan De Koninck

Director · since 06 décembre 2025 · until 06 décembre 2029

Active

Marc de Lint

Director · since 06 décembre 2025 · until 06 décembre 2029

Active

Nicole Van Houtven

Director · since 06 décembre 2025 · until 06 décembre 2029

Active

Hubert Vandueren

Director · since 11 décembre 2023 · until 11 décembre 2027

Active

Eric Avonts

Chairman of the board of directors · since 12 décembre 2022 · until 12 décembre 2026

Active

Hugo Pietermans

Director · since 20 juin 2022 · until 20 juin 2026

Active

Ended mandates

Eric Avonts

Director · since 12 décembre 2022 · until 12 décembre 2026

Ended

Caroline Bastiaens

Director · since 06 décembre 2021 · until 06 décembre 2025

Ended

Hubert Vandueren

Director · since 06 décembre 2021 · until 06 décembre 2023

Ended

Hugo Pietermans

Director · since 06 décembre 2021 · until 20 juin 2026

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	09/06/2026	01/07/2025	26/06/2024	22/06/2023	27/06/2022	24/06/2021
General meeting	08/06/2026	16/06/2025	10/06/2024	12/06/2023	20/06/2022	07/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	08/06/2026	09/06/2026	Dutch	PDF
Full model	31/12/2024	16/06/2025	01/07/2025	Dutch	PDF
Full model	31/12/2023	10/06/2024	26/06/2024	Dutch	PDF
Full model	31/12/2022	12/06/2023	22/06/2023	Dutch	PDF
Full model	31/12/2021	20/06/2022	27/06/2022	Dutch	PDF
Full model	31/12/2020	07/06/2021	24/06/2021	Dutch	PDF
Full model	31/12/2019	15/06/2020	29/06/2020	Dutch	PDF
Full model	31/12/2018	03/06/2019	20/06/2019	Dutch	PDF
Full model	31/12/2017	13/06/2018	20/06/2018	Dutch	PDF
Full model	31/12/2016	12/06/2017	26/06/2017	Dutch	PDF
Full model	31/12/2015	06/06/2016	28/06/2016	Dutch	PDF
Full model	31/12/2014	01/06/2015	22/06/2015	Dutch	PDF
Full modelCorrection	31/12/2013	02/06/2014	10/10/2014	Dutch	PDF
Full model	31/12/2013	02/06/2014	11/06/2014	Dutch	PDF
Full model	31/12/2012	03/06/2013	03/07/2013	Dutch	PDF
Full model	31/12/2011	18/06/2012	25/06/2012	Dutch	PDF
Full model	31/12/2010	16/05/2011	20/05/2011	Dutch	PDF
Full model	31/12/2009	07/06/2010	14/06/2010	Dutch	PDF
Full model	31/12/2008	05/05/2009	25/05/2009	Dutch	PDF
Full model	31/12/2007	02/06/2008	26/06/2008	Dutch	PDF
Full model	31/12/2006	14/05/2007	14/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 7 active · 35 ended

Active mandates

Jan Braeckmans

Director · since 06 décembre 2025 · until 06 décembre 2029

Active

Jan De Koninck

Director · since 06 décembre 2025 · until 06 décembre 2029

Active

Marc de Lint

Director · since 06 décembre 2025 · until 06 décembre 2029

Active

Nicole Van Houtven

Director · since 06 décembre 2025 · until 06 décembre 2029

Active

Hubert Vandueren

Director · since 11 décembre 2023 · until 11 décembre 2027

Active

Eric Avonts

Chairman of the board of directors · since 12 décembre 2022 · until 12 décembre 2026

Active

Hugo Pietermans

Director · since 20 juin 2022 · until 20 juin 2026

Active

Ended mandates

Eric Avonts

Director · since 12 décembre 2022 · until 12 décembre 2026

Ended

Caroline Bastiaens

Director · since 06 décembre 2021 · until 06 décembre 2025

Ended

Hubert Vandueren

Director · since 06 décembre 2021 · until 06 décembre 2023

Ended

Hugo Pietermans

Director · since 06 décembre 2021 · until 20 juin 2026

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/02/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/05/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/01/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/02/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/02/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/07/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/04/2022
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 202598,8 k €↓
2024
Annual accounts 2024106,2 k €↑
2023
Annual accounts 202368,1 k €↓
2022
Annual accounts 2022153 k €↑
2021
Annual accounts 2021-26,1 k €↓
2020
Annual accounts 2020125,4 k €↑
2019
Annual accounts 201971,4 k €↑
2018
Annual accounts 201839,6 k €↓
2017
Annual accounts 201740,3 k €↑
2016
Annual accounts 201621,7 k €↓
2015
Annual accounts 201562,2 k €↑
2014
Annual accounts 201431,1 k €↓
2013
Annual accounts 201385,3 k €↓
2011
Annual accounts 201188,6 k €↑
2010
Annual accounts 201069,3 k €↓
2009
Annual accounts 2009136,1 k €↑
2008
Annual accounts 200830,8 k €
07/11/1974
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

Tsedek

Overview

What does Tsedek do?

Trend over 17 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