ACTIVE

Demula

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Financial year 2025 · closed on 31/12/2025

Net result

1,2 M €

-2.3% YoY

Revenue

17,9 M €

-3.2% YoY

Equity

1,3 M €

-36.9% YoY

Workforce

19,0 ETP

+5.0% YoY

What does Demula do?

Demula is a Public limited company incorporated in 1984. Its registered office is in Laarne. It employs on average 19,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0425.751.212

Incorporation

17/05/1984

Legal form

Public limited company

Registered office

Veldmeersstraat 5
9270 Laarne · FlandreSee on map

Contributed capital

70 000,00 €

Latest accounts

31/12/2025

Average workforce

19,0 ETP

Joint committees (3)

Signals

ProfitableLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Revenue	17,9 M €	-3.2%	18,6 M €	-5.2%	19,6 M €	+5.8%	18,5 M €	+16.6%	15,9 M €	+5.3%	15,1 M €	+9.2%	13,8 M €	+6.2%	13 M €	+9.7%	11,9 M €	+6.1%	11,2 M €	+7.1%	10,4 M €	+5.0%	9,9 M €	+9.7%	9,1 M €	+15.0%	7,9 M €	-11.6%	8,9 M €	+21.9%	7,3 M €	+1.9%	7,2 M €	-3.9%	7,5 M €
EBITDA	1,9 M €	-3.4%	1,9 M €	-16.0%	2,3 M €	+52.3%	1,5 M €	+2.8%	1,5 M €	-13.0%	1,7 M €	+15.2%	1,5 M €	-0.9%	1,5 M €	+23.9%	1,2 M €	-6.0%	1,3 M €	+34.7%	943,8 k €	-0.3%	946,6 k €	+12.6%	840,8 k €	+9.6%	767,5 k €	-27.3%	1,1 M €	+51.1%	698,6 k €	+8.2%	645,5 k €	-2.7%	663,6 k €
Operating result	1,7 M €	-4.1%	1,8 M €	-17.4%	2,2 M €	+54.6%	1,4 M €	+6.2%	1,3 M €	-18.4%	1,6 M €	+17.8%	1,4 M €	-2.1%	1,4 M €	+25.4%	1,1 M €	-6.0%	1,2 M €	+37.8%	879,3 k €	-0.7%	885,7 k €	+9.9%	805,6 k €	+12.0%	719,1 k €	-28.6%	1 M €	+55.5%	647,4 k €	+9.4%	591,8 k €	-0.0%	591,9 k €
Net result	1,2 M €	-2.3%	1,2 M €	-18.7%	1,5 M €	+53.0%	999,5 k €	+4.5%	956,6 k €	-20.7%	1,2 M €	+25.9%	957,8 k €	-1.6%	973,7 k €	+33.5%	729,3 k €	-5.6%	772,3 k €	+28.2%	602,6 k €	+2.2%	589,8 k €	+11.0%	531,5 k €	+8.9%	488,3 k €	-28.8%	685,7 k €	+56.1%	439,4 k €	+13.9%	385,9 k €	-3.0%	397,8 k €
Balance sheet
Equity	1,3 M €	-36.9%	2,1 M €	+7.2%	2 M €	+17.7%	1,7 M €	+6.3%	1,6 M €	+19.2%	1,3 M €	+18.3%	1,1 M €	+5.4%	1,1 M €	+13.1%	946,5 k €	+26.8%	746,2 k €	+0.0%	745,9 k €	+2.6%	727,3 k €	+0.1%	726,5 k €	+0.9%	719,9 k €	-13.4%	831,6 k €	+0.1%	830,9 k €	+0.0%	830,5 k €	+0.1%	829,7 k €
Total assets	5,7 M €	-4.1%	5,9 M €	-1.5%	6 M €	-5.3%	6,3 M €	+14.5%	5,5 M €	+38.8%	4 M €	+19.7%	3,3 M €	-4.2%	3,5 M €	+13.8%	3,1 M €	+15.0%	2,7 M €	+15.6%	2,3 M €	-1.1%	2,3 M €	-6.0%	2,5 M €	+12.8%	2,2 M €	-8.1%	2,4 M €	+6.3%	2,2 M €	-6.4%	2,4 M €	+11.4%	2,1 M €
Cash	831,6 k €	+49.2%	557,3 k €	-19.2%	689,5 k €	-25.2%	922,4 k €	+23.8%	745,3 k €	+69.6%	439,5 k €	+57.9%	278,3 k €	-52.3%	582,9 k €	+28.4%	453,9 k €	+20.1%	378,1 k €	-7.7%	409,7 k €	+12.5%	364 k €	-22.3%	468,3 k €	-2.5%	480,5 k €	+13.9%	421,8 k €	-19.6%	524,4 k €	+7.8%	486,6 k €	+30.8%	372,1 k €
Debts	4,3 M €	+14.4%	3,8 M €	-5.8%	4 M €	-13.7%	4,6 M €	+17.8%	3,9 M €	+48.6%	2,6 M €	+20.4%	2,2 M €	-8.4%	2,4 M €	+14.2%	2,1 M €	+11.0%	1,9 M €	+23.9%	1,5 M €	-2.4%	1,6 M €	-8.2%	1,7 M €	+20.4%	1,4 M €	-4.4%	1,5 M €	+11.1%	1,3 M €	-9.9%	1,5 M €	+16.6%	1,3 M €
Other
Workforce	19,0 ETP	+5.0%	18,1 ETP	-16.6%	21,7 ETP	+3.8%	20,9 ETP	+13.6%	18,4 ETP	-1.6%	18,7 ETP	+16.1%	16,1 ETP	+0.6%	16,0 ETP	+6.7%	15,0 ETP	+5.6%	14,2 ETP	+0.7%	14,1 ETP	+3.7%	13,6 ETP	+0.7%	13,5 ETP	+7.1%	12,6 ETP	-8.7%	13,8 ETP	-2.1%	14,1 ETP	0.0%	14,1 ETP	+9.3%	12,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 19 ended

Active mandates

Arnold van Wetten

Managing director · since 05 décembre 2023 · until 07 mai 2029

Active

Bernard Van der Peijl

Director · since 05 décembre 2023 · until 07 mai 2029

Active

Geert De Maeyer

Director · since 05 décembre 2023 · until 07 mai 2029

Active

Ended mandates

Arnold van Wetten

Managing director · since 01 juillet 2022 · until 30 juin 2028

Ended

Antonius Leyten

Managing director · since 06 mai 2020 · until 01 juillet 2022

Ended

Antonius Leyten

Managing director · since 06 mai 2020 · until 05 mai 2026

Ended

Bernard Van der Peijl

Director · since 06 mai 2020 · until 05 mai 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	27/05/2026	30/06/2025	17/05/2024	08/06/2023	30/05/2022	26/05/2021
General meeting	05/05/2026	05/05/2025	06/05/2024	05/05/2023	05/05/2022	05/05/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	05/05/2026	27/05/2026	Dutch	PDF
Full model	31/12/2024	05/05/2025	30/06/2025	Dutch	PDF
Full model	31/12/2023	06/05/2024	17/05/2024	Dutch	PDF
Full model	31/12/2022	05/05/2023	08/06/2023	Dutch	PDF
Full model	31/12/2021	05/05/2022	30/05/2022	Dutch	PDF
Full model	31/12/2020	05/05/2021	26/05/2021	Dutch	PDF
Full model	31/12/2019	06/05/2020	02/06/2020	Dutch	PDF
Full model	31/12/2018	06/05/2019	03/06/2019	Dutch	PDF
Full model	31/12/2017	07/05/2018	05/06/2018	Dutch	PDF
Full model	31/12/2016	05/05/2017	17/05/2017	Dutch	PDF
Full model	31/12/2015	09/05/2016	23/05/2016	Dutch	PDF
Full model	31/12/2014	05/05/2015	29/05/2015	Dutch	PDF
Full model	31/12/2013	14/03/2014	15/04/2014	Dutch	PDF
Full model	31/12/2012	06/05/2013	03/06/2013	Dutch	PDF
Full model	31/12/2011	07/05/2012	18/06/2012	Dutch	PDF
Full model	31/12/2010	05/05/2011	01/06/2011	Dutch	PDF
Full model	31/12/2009	05/05/2010	22/06/2010	Dutch	PDF
Full model	31/12/2008	05/05/2009	27/08/2009	Dutch	PDF
Abridged model	31/12/2008	05/05/2009	24/06/2009	Dutch	PDF
Full model	31/12/2007	20/03/2008	16/04/2008	Dutch	PDF
Full model	31/12/2006	07/05/2007	04/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 3 active · 19 ended

Active mandates

Arnold van Wetten

Managing director · since 05 décembre 2023 · until 07 mai 2029

Active

Bernard Van der Peijl

Director · since 05 décembre 2023 · until 07 mai 2029

Active

Geert De Maeyer

Director · since 05 décembre 2023 · until 07 mai 2029

Active

Ended mandates

Arnold van Wetten

Managing director · since 01 juillet 2022 · until 30 juin 2028

Ended

Antonius Leyten

Managing director · since 06 mai 2020 · until 01 juillet 2022

Ended

Antonius Leyten

Managing director · since 06 mai 2020 · until 05 mai 2026

Ended

Bernard Van der Peijl

Director · since 06 mai 2020 · until 05 mai 2026

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/09/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/09/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/06/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/06/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/05/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/05/2014
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 20251,2 M €↓
2024
Annual accounts 20241,2 M €↓
2023
Annual accounts 20231,5 M €↑
2022
Annual accounts 2022999,5 k €↑
2021
Annual accounts 2021956,6 k €↓
2020
Annual accounts 20201,2 M €↑
2019
Annual accounts 2019957,8 k €↓
2018
Annual accounts 2018973,7 k €↑
2017
Annual accounts 2017729,3 k €↓
2016
Annual accounts 2016772,3 k €↑
2015
Annual accounts 2015602,6 k €↑
2014
Annual accounts 2014589,8 k €↑
2013
Annual accounts 2013531,5 k €↑
2012
Annual accounts 2012488,3 k €↓
2011
Annual accounts 2011685,7 k €↑
2010
Annual accounts 2010439,4 k €↑
2009
Annual accounts 2009385,9 k €↓
2008
Annual accounts 2008397,8 k €
17/05/1984
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

Demula

Overview

What does Demula do?

Trend over 18 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