ACTIVE

CASABULL

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Financial year 2025 · closed on 31/12/2025

Net result

311 k €

-17.7% YoY

Gross margin

872,7 k €

+6.2% YoY

Equity

2,9 M €

+12.1% YoY

Workforce

3,6 ETP

-16.3% YoY

What does CASABULL do?

CASABULL is a Public limited company incorporated in 1983. Its main activity is: Manufacture of central heating radiators and boilers. Its registered office is in Ingelmunster. It employs on average 3,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0424.709.253

Incorporation

10/10/1983

Legal form

Public limited company

Registered office

Industrielaan 19
8770 Ingelmunster · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

3,6 ETP

Activities (NACE)

25210Manufacture of central heating radiators and boilers· main 25300Manufacture of steam generators, except central heating hot water boilers 28220Manufacture of lifting and handling equipment 28220Manufacture of lifting and handling equipment 46630Wholesale of mining, construction and civil engineering machinery 46630Wholesale of mining, construction and civil engineering machinery+1

Joint committees (3)

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 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	872,7 k €	+6.2%	821,7 k €	-22.8%	1,1 M €	+0.3%	1,1 M €	-4.2%	1,1 M €	+0.9%	1,1 M €	+5.1%	1 M €	+20.9%	865,2 k €	+6.2%	814,7 k €	+31.6%	619,1 k €	-2.2%	633,2 k €	-31.4%	923,2 k €	-16.0%	1,1 M €	+16.5%	943,7 k €	+7.2%	880,7 k €	+120%	400,6 k €	-29.8%	570,4 k €	-31.0%	826,6 k €	-16.4%	988,8 k €	-1.4%	1 M €
EBITDA	570,8 k €	+6.1%	537,8 k €	-35.3%	830,7 k €	+6.3%	781,2 k €	-1.4%	792,6 k €	-0.8%	799,2 k €	+19.1%	670,9 k €	+20.0%	559,2 k €	+16.0%	481,9 k €	+47.5%	326,7 k €	+4.2%	313,5 k €	-53.3%	670,7 k €	-18.3%	821 k €	+19.9%	684,5 k €	+10.7%	618,1 k €	+383%	128,1 k €	-43.6%	227 k €	-51.3%	466,3 k €	-27.9%	647,1 k €	-1.9%	659,7 k €
Operating result	423 k €	+1.2%	418 k €	-39.2%	687,2 k €	+9.0%	630,3 k €	-1.1%	637,1 k €	-0.2%	638,4 k €	+28.1%	498,3 k €	+20.7%	412,8 k €	+19.5%	345,6 k €	+81.5%	190,4 k €	-31.1%	276,2 k €	-56.8%	639 k €	-17.5%	774,4 k €	+23.1%	629 k €	+9.7%	573,3 k €	+765%	66,3 k €	-62.1%	175 k €	-58.1%	417,7 k €	-25.7%	562,1 k €	+4.3%	538,9 k €
Net result	311 k €	-17.7%	377,9 k €	-25.4%	506,6 k €	+11.2%	455,5 k €	+9.8%	414,9 k €	-1.1%	419,5 k €	+23.7%	339 k €	+24.7%	271,9 k €	+28.9%	210,9 k €	+26.0%	167,4 k €	-20.5%	210,6 k €	-79.2%	1 M €	+86.5%	543,3 k €	+20.9%	449,3 k €	+9.3%	411,2 k €	+395%	83 k €	-49.3%	163,8 k €	-51.8%	339,8 k €	-20.9%	429,7 k €	+5.8%	405,9 k €
Balance sheet
Equity	2,9 M €	+12.1%	2,6 M €	-0.9%	2,6 M €	-3.5%	2,7 M €	-5.1%	2,8 M €	-1.2%	2,9 M €	-1.1%	2,9 M €	+1.4%	2,9 M €	-18.5%	3,5 M €	+3.3%	3,4 M €	+2.0%	3,3 M €	+1.9%	3,3 M €	+36.0%	2,4 M €	-3.1%	2,5 M €	-0.0%	2,5 M €	+2.5%	2,4 M €	-8.3%	2,6 M €	-3.2%	2,7 M €	-0.0%	2,7 M €	-0.0%	2,7 M €
Total assets	3,6 M €	-4.9%	3,8 M €	-7.0%	4,1 M €	-7.0%	4,4 M €	-3.9%	4,6 M €	-2.6%	4,7 M €	+2.0%	4,6 M €	+0.4%	4,6 M €	-10.9%	5,2 M €	-1.4%	5,3 M €	+15.1%	4,6 M €	+27.3%	3,6 M €	+8.6%	3,3 M €	-1.1%	3,3 M €	+1.4%	3,3 M €	+4.3%	3,2 M €	-8.0%	3,4 M €	-8.2%	3,7 M €	-3.8%	3,9 M €	+5.0%	3,7 M €
Cash	399,5 k €	+106%	193,7 k €	-61.7%	505,3 k €	+3.9%	486,3 k €	+56.0%	311,8 k €	-24.3%	411,8 k €	-5.7%	436,4 k €	+35.4%	322,4 k €	-85.9%	2,3 M €	-9.1%	2,5 M €	-15.9%	3 M €	+2.6%	2,9 M €	+36.5%	2,1 M €	-5.9%	2,3 M €	+0.9%	2,2 M €	+4.9%	2,1 M €	-9.3%	2,4 M €	-9.6%	2,6 M €	+2.4%	2,6 M €	+7.7%	2,4 M €
Debts	749,7 k €	-39.8%	1,2 M €	-17.6%	1,5 M €	-12.5%	1,7 M €	-1.9%	1,8 M €	-4.7%	1,8 M €	+7.4%	1,7 M €	-1.1%	1,7 M €	+5.3%	1,7 M €	-10.0%	1,8 M €	+51.5%	1,2 M €	+314%	292,5 k €	-67.8%	907,2 k €	+4.7%	866,4 k €	+5.6%	820,7 k €	+10.1%	745,1 k €	-7.3%	804 k €	-21.3%	1 M €	-12.6%	1,2 M €	+18.5%	985,6 k €
Other
Workforce	3,6 ETP	-16.3%	4,3 ETP	-12.2%	4,9 ETP	0.0%	4,9 ETP	-3.9%	5,1 ETP	+6.2%	4,8 ETP	-9.4%	5,3 ETP	-25.4%	7,1 ETP	-7.8%	7,7 ETP	+1.3%	7,6 ETP	+5.6%	7,2 ETP	-5.3%	7,6 ETP	+15.2%	6,6 ETP	-16.5%	7,9 ETP	-8.1%	8,6 ETP	-3.4%	8,9 ETP	-10.1%	9,9 ETP	+12.5%	8,8 ETP	-5.4%	9,3 ETP	+6.9%	8,7 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 · 16 ended

Active mandates

Katrien Casteleyn

Director · since 30 mai 2020 · until 30 mai 2026

Active

Krist Casteleyn

Managing director · since 30 mai 2020 · until 30 mai 2026

Active

Martine Casteleyn

Director · since 30 mai 2020 · until 30 mai 2026

Active

Paul Saelen

Managing director · since 30 mai 2020 · until 30 mai 2026

Active

Ended mandates

Katrien Casteleyn

Director · since 30 mai 2014 · until 31 mai 2020

Ended

Krist Casteleyn

Managing director · since 30 mai 2014 · until 31 mai 2020

Ended

Martine Casteleyn

Director · since 30 mai 2014 · until 31 mai 2020

Ended

Paul Saelen

Managing director · since 30 mai 2014 · until 31 mai 2020

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	12/06/2026	02/06/2025	12/06/2024	07/06/2023	30/05/2022	10/06/2021
General meeting	30/05/2026	31/05/2025	25/05/2024	27/05/2023	28/05/2022	29/05/2021
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
Abridged model	31/12/2025	30/05/2026	12/06/2026	Dutch	PDF
Abridged model	31/12/2024	31/05/2025	02/06/2025	Dutch	PDF
Abridged model	31/12/2023	25/05/2024	12/06/2024	Dutch	PDF
Abridged model	31/12/2022	27/05/2023	07/06/2023	Dutch	PDF
Abridged model	31/12/2021	28/05/2022	30/05/2022	Dutch	PDF
Abridged model	31/12/2020	29/05/2021	10/06/2021	Dutch	PDF
Abridged model	31/12/2019	30/05/2020	18/06/2020	Dutch	PDF
Abridged model	31/12/2018	25/05/2019	05/06/2019	Dutch	PDF
Abridged model	31/12/2017	26/05/2018	30/05/2018	Dutch	PDF
Abridged model	31/12/2016	27/05/2017	13/06/2017	Dutch	PDF
Abridged model	31/12/2015	27/05/2016	02/06/2016	Dutch	PDF
Abridged model	31/12/2014	29/05/2015	30/06/2015	Dutch	PDF
Abridged model	31/12/2013	30/05/2014	02/06/2014	Dutch	PDF
Abridged model	31/12/2012	24/05/2013	17/06/2013	Dutch	PDF
Abridged model	31/12/2011	25/05/2012	21/08/2012	Dutch	PDF
Abridged model	31/12/2010	27/05/2011	20/07/2011	Dutch	PDF
Abridged model	31/12/2009	28/05/2010	30/07/2010	Dutch	PDF
Abridged model	31/12/2008	29/05/2009	29/07/2009	Dutch	PDF
Abridged model	31/12/2007	30/05/2008	08/07/2008	Dutch	PDF
Abridged model	31/12/2006	25/05/2007	13/06/2007	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 · 16 ended

Active mandates

Katrien Casteleyn

Director · since 30 mai 2020 · until 30 mai 2026

Active

Krist Casteleyn

Managing director · since 30 mai 2020 · until 30 mai 2026

Active

Martine Casteleyn

Director · since 30 mai 2020 · until 30 mai 2026

Active

Paul Saelen

Managing director · since 30 mai 2020 · until 30 mai 2026

Active

Ended mandates

Katrien Casteleyn

Director · since 30 mai 2014 · until 31 mai 2020

Ended

Krist Casteleyn

Managing director · since 30 mai 2014 · until 31 mai 2020

Ended

Martine Casteleyn

Director · since 30 mai 2014 · until 31 mai 2020

Ended

Paul Saelen

Managing director · since 30 mai 2014 · until 31 mai 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other02/07/2026
—
PDF
Other02/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DOEL
PDF
Mandates06/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares29/06/2018
KAPITAAL - AANDELEN
PDF
Registered office10/03/2017
MAATSCHAPPELIJKE ZETEL
PDF
Mandates17/07/2014
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares08/01/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Other23/01/2012
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 2025311 k €↓
2024
Annual accounts 2024377,9 k €↓
2023
Annual accounts 2023506,6 k €↑
2022
Annual accounts 2022455,5 k €↑
2021
Annual accounts 2021414,9 k €↓
2020
Annual accounts 2020419,5 k €↑
2019
Annual accounts 2019339 k €↑
2018
Annual accounts 2018271,9 k €↑
2017
Annual accounts 2017210,9 k €↑
2016
Annual accounts 2016167,4 k €↓
2015
Annual accounts 2015210,6 k €↓
2014
Annual accounts 20141 M €↑
2013
Annual accounts 2013543,3 k €↑
2012
Annual accounts 2012449,3 k €↑
2011
Annual accounts 2011411,2 k €↑
2010
Annual accounts 201083 k €↓
2009
Annual accounts 2009163,8 k €↓
2008
Annual accounts 2008339,8 k €↓
2007
Annual accounts 2007429,7 k €↑
2006
Annual accounts 2006405,9 k €
10/10/1983
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

CASABULL

Overview

What does CASABULL do?

Trend over 20 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