ACTIVE

CEDREX

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Financial year 2025 · closed on 31/12/2025

Net result

34,4 k €

-70.0% YoY

Gross margin

206,7 k €

-29.2% YoY

Equity

1,2 M €

-11.2% YoY

What does CEDREX do?

CEDREX is a Private limited company incorporated in 1978. Its main activity is: Agents involved in the sale of timber and building materials. Its registered office is in Braine-l'Alleud.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0418.025.359

Incorporation

10/02/1978

Legal form

Private limited company

Registered office

Chaussée Bara 68
1420 Braine-l'Alleud · WallonieSee on map

Contributed capital

468 795,28 €

Latest accounts

31/12/2025

Activities (NACE)

46130Agents involved in the sale of timber and building materials· main 46130Agents involved in the sale of timber and building materials 51130Passenger air transport

Joint committees (4)

Signals

ProfitableSolid equityLow riskGood 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		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	206,7 k €	-29.2%	292 k €	-8.1%	317,7 k €	-3.4%	328,8 k €	+31.7%	249,8 k €	+7.6%	232,2 k €	-17.4%	281 k €	+10.6%	254,2 k €	-11.4%	287 k €	-12.5%	328 k €	+23.5%	265,5 k €	-19.1%	328,3 k €	+13.8%	288,4 k €	-3.0%	297,2 k €	+12.2%	264,9 k €	+12.6%	235,3 k €	+9.6%	214,6 k €	+80.0%	119,3 k €
EBITDA	154,5 k €	-34.4%	235,6 k €	-9.8%	261,1 k €	-8.1%	284,3 k €	+40.3%	202,6 k €	-7.9%	220 k €	+21.4%	181,1 k €	-22.5%	233,6 k €	+1.5%	230,2 k €	-15.7%	272,9 k €	+30.5%	209 k €	-24.0%	275,1 k €	-0.6%	276,7 k €	-6.4%	295,6 k €	+12.3%	263,2 k €	+13.4%	232,1 k €	+8.8%	213,4 k €	+99.2%	107,1 k €
Operating result	79,2 k €	-59.0%	193,1 k €	-16.9%	232,4 k €	-5.4%	245,8 k €	+68.2%	146,1 k €	-20.5%	183,8 k €	+40.1%	131,2 k €	-34.9%	201,3 k €	+5.2%	191,4 k €	-17.2%	231,1 k €	+38.0%	167,4 k €	-27.4%	230,5 k €	-10.4%	257,2 k €	-6.3%	274,5 k €	+16.3%	236 k €	+6.4%	221,7 k €	+7.0%	207,3 k €	+122%	93,4 k €
Net result	34,4 k €	-70.0%	114,4 k €	-9.4%	126,3 k €	-4.5%	132,3 k €	+64.5%	80,4 k €	+35.2%	59,5 k €	+22.0%	48,7 k €	-62.9%	131,2 k €	+12.6%	116,5 k €	-13.9%	135,3 k €	+7.2%	126,2 k €	+8.3%	116,5 k €	-44.1%	208,3 k €	-0.4%	209 k €	+66.6%	125,5 k €	+18.1%	106,2 k €	-37.8%	170,7 k €	+60.1%	106,7 k €
Balance sheet
Equity	1,2 M €	-11.2%	1,3 M €	+9.1%	1,2 M €	+4.6%	1,2 M €	+6.9%	1,1 M €	+18.4%	917,5 k €	+6.9%	858 k €	+6.0%	809,3 k €	+19.4%	678,1 k €	+20.8%	561,5 k €	-32.0%	826,2 k €	+1.4%	815 k €	+16.7%	698,6 k €	+42.5%	490,2 k €	+74.3%	281,2 k €	+17.3%	239,7 k €	+11.6%	214,9 k €	+71.3%	125,4 k €
Total assets	1,5 M €	-3.6%	1,6 M €	-0.8%	1,6 M €	+17.4%	1,4 M €	+4.8%	1,3 M €	+4.1%	1,2 M €	-1.0%	1,3 M €	+19.9%	1 M €	+12.4%	928,4 k €	+1.4%	915,8 k €	-25.9%	1,2 M €	+10.0%	1,1 M €	+26.8%	886,1 k €	+23.5%	717,6 k €	+47.3%	487,1 k €	+38.6%	351,5 k €	+30.0%	270,3 k €	+74.3%	155,1 k €
Cash	365,9 k €	-44.6%	659,8 k €	-15.6%	781,9 k €	-24.6%	1 M €	+8.2%	957,8 k €	+5.8%	905 k €	+4.5%	866,3 k €		–		387,1 k €	+28.6%	301 k €	-36.8%	476 k €	+11.2%	428,2 k €	+39.7%	306,5 k €	-14.6%	358,7 k €	+92.8%	186 k €	+38.4%	134,4 k €	+2383%	5,4 k €	+87.2%	2,9 k €
Debts	268 k €	+33.4%	200,8 k €	-36.2%	314,9 k €	+138%	132,4 k €	-17.4%	160,3 k €	-34.2%	243,6 k €	-21.7%	311,2 k €	+32.6%	234,6 k €	-6.3%	250,3 k €	-29.3%	354,3 k €	-13.4%	409 k €	+32.7%	308,3 k €	+64.4%	187,5 k €	-17.5%	227,3 k €	+10.4%	205,9 k €	+84.3%	111,8 k €	+102%	55,3 k €	+88.9%	29,3 k €
Other
Workforce	–		–		–		–		–		–		–		0,3 ETP	-70.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	+400%	0,2 ETP		–		–		–		–		0,2 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 · 1 active · 2 ended

Active mandates

Benjamin VERHEYEN

Director · since 27 mars 2006

Active

Ended mandates

BENJAMIN VERHEYEN

Manager · since 27 mars 2006

Ended

SERGE VERHEYEN

Manager · since 15 juin 1993 · until 27 mars 2006

Ended

At this address

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BETOBE FOOD● Active	0772.780.291
BLATON CONSULTING● Active	0807.082.560
Docteur Julien Binard● Active	0741.374.661
SYLLAB INTERNATIONAL● Active	0831.875.166

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	26/06/2026	07/07/2025	11/07/2024	16/06/2023	24/06/2022	23/06/2021
General meeting	23/06/2026	30/06/2025	16/05/2024	19/05/2023	19/05/2022	20/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	23/06/2026	26/06/2026	French	PDF
Micro model	31/12/2024	30/06/2025	07/07/2025	French	PDF
Micro model	31/12/2023	16/05/2024	11/07/2024	French	PDF
Micro model	31/12/2022	19/05/2023	16/06/2023	French	PDF
Micro model	31/12/2021	19/05/2022	24/06/2022	French	PDF
Micro model	31/12/2020	20/05/2021	23/06/2021	French	PDF
Micro model	31/12/2019	22/05/2020	01/07/2020	French	PDF
Micro model	31/12/2018	16/05/2019	26/06/2019	French	PDF
Micro model	31/12/2017	29/06/2018	30/07/2018	French	PDF
Abridged model	31/12/2016	18/05/2017	20/07/2017	French	PDF
Abridged model	31/12/2015	19/05/2016	25/07/2016	French	PDF
Abridged model	31/12/2014	21/05/2015	01/07/2015	French	PDF
Abridged model	31/12/2013	15/05/2014	26/06/2014	French	PDF
Abridged model	31/12/2012	16/05/2013	27/06/2013	French	PDF
Abridged model	31/12/2011	18/05/2012	30/07/2012	French	PDF
Abridged model	31/12/2010	19/05/2011	26/07/2011	French	PDF
Abridged model	31/12/2009	20/05/2010	30/07/2010	French	PDF
Abridged model	31/12/2008	22/05/2009	10/08/2009	French	PDF
Abridged model	31/12/2007	15/05/2008	02/07/2008	French	PDF
Abridged model	31/12/2006	18/05/2007	03/07/2007	French	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 · 1 active · 2 ended

Active mandates

Benjamin VERHEYEN

Director · since 27 mars 2006

Active

Ended mandates

BENJAMIN VERHEYEN

Manager · since 27 mars 2006

Ended

SERGE VERHEYEN

Manager · since 15 juin 1993 · until 27 mars 2006

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates31/05/2023
MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Capital / shares13/01/2014
CAPITAL, ACTIONS
PDF
Registered office16/01/2007
SIEGE SOCIAL
PDF
Capital / shares14/04/2006
OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
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 202534,4 k €↓
2024
Annual accounts 2024114,4 k €↓
2023
Annual accounts 2023126,3 k €↓
2022
Annual accounts 2022132,3 k €↑
2021
Annual accounts 202180,4 k €↑
2018
Annual accounts 201859,5 k €↑
2017
Annual accounts 201748,7 k €↓
2016
Annual accounts 2016131,2 k €↑
2015
Annual accounts 2015116,5 k €↓
2014
Annual accounts 2014135,3 k €↑
2013
Annual accounts 2013126,2 k €↑
2012
Annual accounts 2012116,5 k €↓
2011
Annual accounts 2011208,3 k €↓
2010
Annual accounts 2010209 k €↑
2009
Annual accounts 2009125,5 k €↑
2008
Annual accounts 2008106,2 k €↓
2007
Annual accounts 2007170,7 k €↑
2006
Annual accounts 2006106,7 k €
10/02/1978
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

CEDREX

Overview

What does CEDREX do?

Trend over 18 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