ACTIVE

ISTEMA

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Financial year 2025 · Closed on 31/12/2025

Net result21,2 k €-33,8 %over 1 year

Gross margin2 M €+5,0 %over 1 year

Equity1,1 M €+1,9 %over 1 year

Workforce22,9 ETP+2,2 %over 1 year

Identity

Source · BCE/KBO

ISTEMA is a Public limited company incorporated in 1980. Its main activity is: Engineering activities and related technical consultancy. Its registered office is in Gent. It employs on average 22,9 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0421.104.219
Incorporation: 30/12/1980
Legal form: Public limited company
Registered office: Voskenslaan 332
9000 Gent · FlandreSee on map
Contributed capital: 62 000,00 €
Latest accounts: 31/12/2025
Average workforce: 22,9 ETP

Activities (NACE)

71121Engineering activities and related technical consultancy· main 71121Engineering activities and related technical consultancy 74203Photographic activities

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 20 filings

Trend over 18 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	2 M €	+5.0%	1,9 M €	-3.9%	2 M €	+8.2%	1,8 M €	+5.5%	1,7 M €
EBITDA	128,3 k €	-9.3%	141,4 k €	-8.1%	153,9 k €	+25.7%	122,4 k €	-61.8%	320,1 k €
Operating result	42,2 k €	-16.2%	50,3 k €	-38.1%	81,4 k €	+70.9%	47,6 k €	-79.5%	232,6 k €
Net result	21,2 k €	-33.8%	32 k €	-36.2%	50,2 k €	-8.9%	55,1 k €	-78.7%	258,7 k €
Balance sheet
Equity	1,1 M €	+1.9%	1,1 M €	+2.9%	1,1 M €	+0.9%	1,1 M €	+5.4%	1 M €
Total assets	1,7 M €	+5.1%	1,6 M €	-10.7%	1,8 M €	-1.7%	1,8 M €	-1.0%	1,8 M €
Cash	352,2 k €	+7.2%	328,7 k €	-26.2%	445,5 k €	+4.9%	424,6 k €	+0.5%	422,6 k €
Debts	529,8 k €	+12.4%	471,2 k €	-31.4%	686,4 k €	-4.7%	720 k €	-9.6%	796,2 k €
Other
Workforce	22,9 ETP	+2.2%	22,4 ETP	-3.9%	23,3 ETP	-0.9%	23,5 ETP	+12.4%	20,9 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 17 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Luc Delagaye	Director24/04/2012 → 28/04/2026
DELAGAYE PIET0477.831.601Represented by Delagaye PIET	Managing director24/04/2012 → 28/04/2028Mandate24/04/2012 → 2018 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Dirk De heer Maes	Director24/04/2018 → 2018 accounts
Dirk Maes	Director24/04/2018 → 2021 accounts
Luc De heer Delagaye	Mandate24/04/2018 → 2018 accounts
Theo De Beir	Director24/04/2018 → 2021 accounts

Other companies at this address

Voskenslaan 332 9000 Gent

Company	CBE no.
maatschap Hermes● Active	1011.557.174

Full financial information

Source · NBB

	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	05/05/2026	30/04/2025	26/05/2024	03/05/2023	02/05/2022	01/07/2021
General meeting	28/04/2026	29/04/2025	30/04/2024	25/04/2023	26/04/2022	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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	28/04/2026	05/05/2026	Dutch	PDF
Abridged model	31/12/2024	29/04/2025	30/04/2025	Dutch	PDF
Abridged model	31/12/2023	30/04/2024	26/05/2024	Dutch	PDF
Abridged model	31/12/2022	25/04/2023	03/05/2023	Dutch	PDF
Abridged model	31/12/2021	26/04/2022	02/05/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	01/07/2021	Dutch	PDF
Abridged model	31/12/2019	05/06/2020	16/06/2020	Dutch	PDF
Abridged model	31/12/2018	31/05/2019	28/06/2019	Dutch	PDF
Abridged model	31/12/2017	24/04/2018	25/04/2018	Dutch	PDF
Abridged model	31/12/2016	25/04/2017	15/05/2017	Dutch	PDF
Abridged model	31/12/2015	26/04/2016	20/05/2016	Dutch	PDF
Abridged model	31/12/2014	28/04/2015	27/05/2015	Dutch	PDF
Abridged model	31/12/2013	29/04/2014	28/05/2014	Dutch	PDF
Abridged model	31/12/2012	30/04/2013	07/05/2013	Dutch	PDF
Abridged model	31/12/2011	24/04/2012	16/05/2012	Dutch	PDF
Abridged model	31/12/2010	26/04/2011	06/05/2011	Dutch	PDF
Abridged model	31/12/2009	27/04/2010	25/05/2010	Dutch	PDF
Abridged model	31/12/2008	25/04/2009	20/05/2009	Dutch	PDF
Abridged model	31/12/2007	29/04/2008	26/05/2008	Dutch	PDF
Abridged model	31/12/2006	24/04/2007	21/05/2007	Dutch	PDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 17 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Luc Delagaye	Director24/04/2012 → 28/04/2026
DELAGAYE PIET0477.831.601Represented by Delagaye PIET	Managing director24/04/2012 → 28/04/2028Mandate24/04/2012 → 2018 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Dirk De heer Maes	Director24/04/2018 → 2018 accounts
Dirk Maes	Director24/04/2018 → 2021 accounts
Luc De heer Delagaye	Mandate24/04/2018 → 2018 accounts
Theo De Beir	Director24/04/2018 → 2021 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates22/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/06/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/04/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/03/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/06/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/06/2012
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares28/03/2012
BENAMING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates14/06/2010
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings18 filings

Mandates

Luc Delagaye

DELAGAYE PIET

Dirk Maes

Dirk De heer Maes

Theo De heer De Beir

Luc De heer Delagaye

Theo De Beir

Luc (AV 2012) De heer Delagaye

Godfried Stockman (AV 2008)

Godfried (AV 2010) De heer Stockman

Dirk (AV 2018) Maes

Theo (AV 2012) De Beir

Show the 7 other mandates

1980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025202620272028

ISTEMA

Voskenslaan 332, 9000 Gent

Director

Managing director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Voskenslaan 332, 9000 GentCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00102123

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
ISTEMACurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00102123

Events

2025
Annual accounts 202521,2 k €↓
2024
Annual accounts 202432 k €↓
2023
Annual accounts 202350,2 k €↓
2022
Annual accounts 202255,1 k €↓
2021
Annual accounts 2021258,7 k €↑
2018
Annual accounts 2018-53,7 k €↓
2017
Annual accounts 201720,4 k €↓
2016
Annual accounts 201633,9 k €↓
2015
Annual accounts 201578,2 k €↑
2014
Annual accounts 201451,9 k €↑
2013
Annual accounts 201338,5 k €↑
2012
Annual accounts 201214,7 k €↓
2011
Annual accounts 201132,4 k €↑
2010
Annual accounts 20103,3 k €↓
2009
Annual accounts 2009115,5 k €↓
2008
Annual accounts 2008160,5 k €↑
2007
Annual accounts 2007103,5 k €↓
2006
Annual accounts 2006112,1 k €
30/12/1980
IncorporationPublic limited company

ISTEMA

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events