ACTIVE

NEDERMAN

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Financial year 2025 · closed on 31/12/2025

Net result

381,4 k €

-33.9% YoY

Gross margin

2,4 M €

-9.9% YoY

Equity

193,3 k €

-8.8% YoY

Workforce

15,8 ETP

-3.1% YoY

What does NEDERMAN do?

NEDERMAN is a Public limited company incorporated in 1980. Its registered office is in Sint-Pieters-Leeuw. It employs on average 15,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0420.715.031

Incorporation

18/09/1980

Legal form

Public limited company

Registered office

Bergensesteenweg 181
1600 Sint-Pieters-Leeuw · FlandreSee on map

Contributed capital

100 000,00 €

Latest accounts

31/12/2025

Average workforce

15,8 ETP

Joint committees (3)

14904
19404
2000

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	2,4 M €	-9.9%	2,7 M €	+8.2%	2,5 M €	+17.3%	2,1 M €	-1.9%	2,2 M €	-9.4%	2,4 M €	-5.7%	2,5 M €	+23.2%	2 M €	-9.3%	2,3 M €		–		–		–		–		–		–		–		–		–		–		–
EBITDA	573,6 k €	-29.4%	813 k €	+35.9%	598,2 k €	+14.0%	524,7 k €	+0.2%	523,5 k €	-6.6%	560,5 k €	+4.9%	534,3 k €	+54.7%	345,3 k €	-37.7%	554,1 k €	+25.3%	442,3 k €	-1.4%	448,5 k €	+1.9%	440,3 k €	+101%	218,6 k €	-15.0%	257,3 k €	+23.2%	208,8 k €	+27.2%	164,2 k €	-50.8%	333,6 k €	-63.7%	918 k €	+12.5%	816,1 k €	+65.5%	493 k €
Operating result	523,7 k €	-34.8%	803,7 k €	+34.8%	596 k €	+15.2%	517,2 k €	+0.7%	513,4 k €	-6.5%	549,3 k €	+6.1%	517,9 k €	+58.3%	327,2 k €	-39.0%	536,3 k €	+22.0%	439,6 k €	-3.7%	456,4 k €	+7.1%	426,2 k €	+92.1%	221,8 k €	-19.8%	276,6 k €	+43.6%	192,6 k €	+3.6%	185,9 k €	-36.9%	294,8 k €	-67.2%	898 k €	+14.5%	784,4 k €	+58.7%	494,2 k €
Net result	381,4 k €	-33.9%	576,7 k €	+38.3%	417 k €	+19.5%	349 k €	+2.3%	341,2 k €	-4.3%	356,6 k €	+11.3%	320,4 k €	+73.4%	184,8 k €	-39.4%	305,1 k €	+25.2%	243,8 k €	-4.4%	254,9 k €	+16.3%	219,2 k €	+200%	-219,7 k €	-328%	96,3 k €	+33.4%	72,2 k €	-3.4%	74,8 k €	+346%	-30,4 k €	-106%	510,2 k €	+13.5%	449,4 k €	+50.0%	299,7 k €
Balance sheet
Equity	193,3 k €	-8.8%	211,9 k €	-45.0%	385,3 k €	+21.1%	318,2 k €	+38.8%	229,2 k €	+0.5%	228 k €	-73.8%	871,4 k €	+58.1%	551 k €	-45.8%	1 M €	+42.9%	711,2 k €	+52.2%	467,4 k €	+120%	212,5 k €	+3242%	-6,8 k €	-103%	212,9 k €	+82.6%	116,6 k €	+1.9%	114,4 k €	+43.7%	79,6 k €	-27.7%	110 k €	-91.4%	1,3 M €	+53.7%	836,9 k €
Total assets	2,3 M €	-39.2%	3,7 M €	+6.6%	3,5 M €	-17.0%	4,2 M €	+22.7%	3,4 M €	-6.6%	3,7 M €	+2.6%	3,6 M €	+22.9%	2,9 M €	+10.4%	2,6 M €	+19.9%	2,2 M €	+17.1%	1,9 M €	+3.3%	1,8 M €	-9.6%	2 M €	-24.7%	2,7 M €	-11.8%	3 M €	+9.3%	2,8 M €	-5.0%	2,9 M €	+0.9%	2,9 M €	-9.9%	3,2 M €	+97.5%	1,6 M €
Cash	314,1 k €	+13.1%	277,6 k €	-4.3%	290 k €	-23.0%	376,6 k €	-38.6%	613 k €	+40.1%	437,7 k €	+200%	145,7 k €	-64.3%	408 k €	-0.9%	411,6 k €	+50.7%	273,2 k €	-56.5%	628,4 k €	-1.8%	640,1 k €	+67.2%	382,9 k €	+105%	187,2 k €	-36.5%	294,7 k €	-26.8%	402,9 k €	-8.5%	440,1 k €	-5.5%	465,7 k €	-4.5%	487,8 k €	+98.9%	245,3 k €
Debts	1,9 M €	-43.6%	3,4 M €	+9.9%	3,1 M €	-20.3%	3,9 M €	+21.5%	3,2 M €	-7.1%	3,4 M €	+27.5%	2,7 M €	+14.6%	2,4 M €	+46.0%	1,6 M €	+9.8%	1,5 M €	+5.0%	1,4 M €	-11.9%	1,6 M €	-20.5%	2 M €	-18.0%	2,4 M €	-15.6%	2,9 M €	+8.8%	2,7 M €	-6.3%	2,8 M €	+1.9%	2,8 M €	+48.8%	1,9 M €	+137%	787,4 k €
Other
Workforce	15,8 ETP	-3.1%	16,3 ETP	+4.5%	15,6 ETP	-0.6%	15,7 ETP	-6.0%	16,7 ETP	-13.0%	19,2 ETP	-8.1%	20,9 ETP	+2.0%	20,5 ETP	+3.0%	19,9 ETP	-2.0%	20,3 ETP	-0.5%	20,4 ETP	-2.9%	21,0 ETP	-1.4%	21,3 ETP	+9.8%	19,4 ETP	0.0%	19,4 ETP	+37.6%	14,1 ETP	-6.6%	15,1 ETP	0.0%	15,1 ETP	+2.7%	14,7 ETP	+4.3%	14,1 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 · 4 active · 33 ended

Active mandates

Geert Ceule

Managing director · since 17 février 2026 · until 17 février 2032

Active

Emanuel Walravens

Managing director · since 04 octobre 2025 · until 04 octobre 2031

Active

Hans Dahlén

Director · since 29 novembre 2022 · until 29 novembre 2028

Active

Matthew Cusick

Director · since 29 novembre 2022 · until 29 novembre 2028

Active

Ended mandates

Geert Ceule

Managing director · since 17 février 2020 · until 17 février 2026

Ended

Emanuel Walravens

Managing director · since 04 octobre 2019 · until 04 octobre 2025

Ended

FIGURAD BEDRIJFSREVISOREN

Mandate · since 29 juin 2018 · until 17 mai 2021 · 0423.109.644

Represented by Stefaan (A2011) Beirens

Ended

FIGURAD BEDRIJFSREVISOREN

Mandate · since 29 juin 2018 · until 17 mai 2021 · 0423.109.644

Represented by Stefaan (A2011) Beirens

Ended

At this address

Other companies at this address

Company	CBE no.
PUB CONSULTING● Active	0476.759.552
Sitasoft Belgium● Active	0627.914.949
VT Food● Active	0448.803.261
ZOUTEN CASSIMAN SELS● Active	0473.628.135

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	14/07/2026	27/05/2025	02/08/2024	03/07/2023	15/07/2022	10/08/2021
General meeting	30/06/2026	19/05/2025	31/07/2024	30/06/2023	30/06/2022	30/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	14/07/2026	Dutch	PDF
Abridged model	31/12/2024	19/05/2025	27/05/2025	Dutch	PDF
Abridged model	31/12/2023	31/07/2024	02/08/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	03/07/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	15/07/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	10/08/2021	Dutch	PDF
Abridged model	31/12/2019	22/06/2020	23/07/2020	Dutch	PDF
Abridged model	31/12/2018	28/06/2019	12/07/2019	Dutch	PDF
Abridged model	31/12/2017	29/06/2018	05/07/2018	Dutch	PDF
Full model	31/12/2016	30/06/2017	21/08/2017	Dutch	PDF
Full model	31/12/2015	30/06/2016	19/08/2016	Dutch	PDF
Full model	31/12/2014	30/06/2015	31/07/2015	Dutch	PDF
Full model	31/12/2013	19/05/2014	30/06/2014	Dutch	PDF
Full model	31/12/2012	14/06/2013	12/07/2013	Dutch	PDF
Full model	31/12/2011	21/05/2012	20/06/2012	Dutch	PDF
Full model	31/12/2010	16/05/2011	08/07/2011	Dutch	PDF
Full model	31/12/2009	30/06/2010	23/07/2010	Dutch	PDF
Full model	31/12/2008	15/06/2009	26/06/2009	Dutch	PDF
Full model	31/12/2007	19/05/2008	21/05/2008	Dutch	PDF
Full model	31/12/2006	21/05/2007	17/09/2007	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 · 4 active · 33 ended

Active mandates

Geert Ceule

Managing director · since 17 février 2026 · until 17 février 2032

Active

Emanuel Walravens

Managing director · since 04 octobre 2025 · until 04 octobre 2031

Active

Hans Dahlén

Director · since 29 novembre 2022 · until 29 novembre 2028

Active

Matthew Cusick

Director · since 29 novembre 2022 · until 29 novembre 2028

Active

Ended mandates

Geert Ceule

Managing director · since 17 février 2020 · until 17 février 2026

Ended

Emanuel Walravens

Managing director · since 04 octobre 2019 · until 04 octobre 2025

Ended

FIGURAD BEDRIJFSREVISOREN

Mandate · since 29 juin 2018 · until 17 mai 2021 · 0423.109.644

Represented by Stefaan (A2011) Beirens

Ended

FIGURAD BEDRIJFSREVISOREN

Mandate · since 29 juin 2018 · until 17 mai 2021 · 0423.109.644

Represented by Stefaan (A2011) Beirens

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other15/07/2026
—
PDF
Mandates06/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other27/05/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates28/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/07/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/02/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/10/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/02/2017
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 2025381,4 k €↓
2024
Annual accounts 2024576,7 k €↑
2023
Annual accounts 2023417 k €↑
2022
Annual accounts 2022349 k €↑
2021
Annual accounts 2021341,2 k €↓
2020
Annual accounts 2020356,6 k €↑
2019
Annual accounts 2019320,4 k €↑
2018
Annual accounts 2018184,8 k €↓
2017
Annual accounts 2017305,1 k €↑
2016
Annual accounts 2016243,8 k €↓
2015
Annual accounts 2015254,9 k €↑
2014
Annual accounts 2014219,2 k €↑
2013
Annual accounts 2013-219,7 k €↓
2012
Annual accounts 201296,3 k €↑
2011
Annual accounts 201172,2 k €↓
2010
Annual accounts 201074,8 k €↑
2009
Annual accounts 2009-30,4 k €↓
2008
Annual accounts 2008510,2 k €↑
2007
Annual accounts 2007449,4 k €↑
2006
Annual accounts 2006299,7 k €
18/09/1980
IncorporationPublic 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

NEDERMAN

Overview

What does NEDERMAN do?

Trend over 20 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