ACTIVE

GOURMAND

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Financial year 2025 · closed on 31/12/2025

Net result

571,6 k €

-35.6% YoY

Revenue

34,7 M €

+12.1% YoY

Equity

1,1 M €

-87.4% YoY

Workforce

171,1 ETP

+4.5% YoY

What does GOURMAND do?

GOURMAND is a Public limited company incorporated in 1984. Its main activity is: Manufacture of bread; manufacture of fresh pastry goods and cakes. Its registered office is in Mouscron. It employs on average 171,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0425.877.807

Incorporation

29/06/1984

Legal form

Public limited company

Registered office

Drève Gustave Fache(L) 6
7700 Mouscron · WallonieSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2025

Average workforce

171,1 ETP

Activities (NACE)

10711Manufacture of bread; manufacture of fresh pastry goods and cakes· main 10711Manufacture of bread; manufacture of fresh pastry goods and cakes 10712Manufacture of bread; manufacture of fresh pastry goods and cakes 10712Manufacture of bread; manufacture of fresh pastry goods and cakes 15811Manufacture of leather and related products 15812Manufacture of leather and related products+3

Joint committees (2)

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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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
Revenue	34,7 M €	+12.1%	31 M €	-75.0%	123,7 M €	+34.3%	92,1 M €	+40.5%	65,6 M €	+21.2%	54,1 M €	-33.2%	80,9 M €	+11.9%	72,3 M €	+8.1%	66,9 M €	+2.6%	65,2 M €	+7.6%	60,6 M €	+7.2%	56,5 M €	+8.1%	52,3 M €	+9.7%	47,7 M €	+27.5%	37,4 M €	+1.7%	36,8 M €	+31.9%	27,9 M €	+4.4%	26,7 M €	+23.4%	21,7 M €	+56.1%	13,9 M €
EBITDA	8 M €	+42.5%	5,6 M €	-70.4%	19 M €	+28.9%	14,8 M €	+28.4%	11,5 M €	+213%	3,7 M €	-71.6%	12,9 M €	+11.6%	11,6 M €	+38.2%	8,4 M €	+10.4%	7,6 M €	-9.4%	8,4 M €	+35.8%	6,2 M €	+15.7%	5,3 M €	-35.9%	8,3 M €	+36.0%	6,1 M €	-8.5%	6,7 M €	+65.0%	4 M €	-11.0%	4,5 M €	+77.2%	2,6 M €	+1030%	226,9 k €
Operating result	2 M €	+4.8%	1,9 M €	-86.3%	13,8 M €	+46.1%	9,5 M €	+99.3%	4,8 M €	+245%	-3,3 M €	-152%	6,3 M €	+39.8%	4,5 M €	+214%	1,4 M €	-55.7%	3,3 M €	-33.4%	4,9 M €	+47.8%	3,3 M €	+16.4%	2,8 M €	-54.0%	6,2 M €	+66.2%	3,7 M €	+13.2%	3,3 M €	+2714%	116,9 k €	-93.1%	1,7 M €	+2903%	-60,3 k €	+97.3%	-2,2 M €
Net result	571,6 k €	-35.6%	887,3 k €	-90.8%	9,6 M €	+59.8%	6 M €	+96.4%	3,1 M €	+206%	-2,9 M €	-170%	4,2 M €	+10.8%	3,8 M €	+260%	1 M €	-59.5%	2,6 M €	-23.0%	3,3 M €	+97.4%	1,7 M €	+9.4%	1,6 M €	-62.0%	4,1 M €	+82.6%	2,2 M €	+5.4%	2,1 M €	+45653%	-4,7 k €	-100%	1,2 M €	+811%	126,7 k €	+110%	-1,3 M €
Balance sheet
Equity	1,1 M €	-87.4%	8,4 M €	-79.7%	41,6 M €	+15.2%	36,1 M €	+8.6%	33,3 M €	+1.7%	32,7 M €	-8.5%	35,8 M €	+11.4%	32,1 M €	+6.0%	30,3 M €	+17.8%	25,7 M €	+6.4%	24,1 M €	+5.4%	22,9 M €	+19.0%	19,3 M €	+8.3%	17,8 M €	+27.8%	13,9 M €	+17.0%	11,9 M €	+20.0%	9,9 M €	-4.4%	10,4 M €	+9.3%	9,5 M €	-1.4%	9,6 M €
Total assets	37 M €	-21.1%	46,8 M €	-32.2%	69,1 M €	+11.4%	62 M €	+8.5%	57,1 M €	+7.5%	53,1 M €	-20.2%	66,6 M €	+16.8%	57 M €	-0.8%	57,5 M €	-8.5%	62,8 M €	+14.6%	54,8 M €	+13.1%	48,5 M €	+4.5%	46,4 M €	+37.3%	33,8 M €	+37.9%	24,5 M €	-10.9%	27,5 M €	+15.8%	23,8 M €	-11.2%	26,8 M €	+19.7%	22,4 M €	-9.1%	24,6 M €
Cash	270,3 k €	-85.5%	1,9 M €	-68.5%	5,9 M €	+45.5%	4,1 M €	-6.4%	4,4 M €	+91.4%	2,3 M €	+18.4%	1,9 M €	-24.2%	2,5 M €	-7.4%	2,7 M €	+3911%	68,4 k €	-91.7%	820,4 k €	+14.2%	718,6 k €	-27.0%	985 k €	-31.3%	1,4 M €	+115%	665,2 k €	+1.7%	654,2 k €	-13.1%	752,4 k €	+152%	298,8 k €	-48.6%	581,7 k €	+93.8%	300,2 k €
Debts	35,9 M €	-6.4%	38,3 M €	+40.9%	27,2 M €	+5.9%	25,7 M €	+9.0%	23,6 M €	+17.1%	20,1 M €	-33.6%	30,3 M €	+23.5%	24,5 M €	-7.1%	26,4 M €	-26.6%	35,9 M €	+23.1%	29,2 M €	+19.8%	24,4 M €	-8.9%	26,7 M €	+71.1%	15,6 M €	+54.9%	10,1 M €	-33.6%	15,2 M €	+20.5%	12,6 M €	-13.6%	14,6 M €	+35.2%	10,8 M €	-14.0%	12,6 M €
Other
Workforce	171,1 ETP	+4.5%	163,7 ETP	-10.5%	182,9 ETP	+12.3%	162,9 ETP	+0.8%	161,6 ETP	+6.8%	151,3 ETP	+3.5%	146,2 ETP	+2.0%	143,3 ETP	-1.8%	146,0 ETP	+8.0%	135,2 ETP	+17.1%	115,5 ETP	+3.8%	111,3 ETP	+12.3%	99,1 ETP	+17.0%	84,7 ETP	+9.6%	77,3 ETP	+8.3%	71,4 ETP	+1.6%	70,3 ETP	+6.8%	65,8 ETP	+12.3%	58,6 ETP	0.0%	58,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 42 ended

Active mandates

Serafien Bakery Group

Director · since 31 décembre 2024 · 1016.044.415

Represented by Frank Dossche

Active

Ended mandates

DOSSCHE INVEST

Director · since 29 décembre 2023 · until 31 décembre 2024 · 0464.350.876

Represented by Frank Dossche

Ended

DOSSCHE INVEST

Director · since 29 décembre 2023 · 0464.350.876

Represented by Frank Dossche

Ended

DW KRUISHOUTEM

Director · since 31 mai 2021 · until 25 mai 2026 · 0478.203.070

Represented by Kristof Dossche

Ended

DW KRUISHOUTEM

Managing director · since 31 mai 2021 · until 29 décembre 2023 · 0478.203.070

Represented by Kristof Dossche

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	12/06/2026	16/06/2025	24/06/2024	22/06/2023	23/06/2022	29/06/2021
General meeting	26/05/2026	26/05/2025	27/05/2024	30/05/2023	30/05/2022	31/05/2021
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
Full model	31/12/2025	26/05/2026	12/06/2026	French	PDF
Full model	31/12/2024	26/05/2025	16/06/2025	French	PDF
Full model	31/12/2023	27/05/2024	24/06/2024	French	PDF
Full model	31/12/2022	30/05/2023	22/06/2023	French	PDF
Full model	31/12/2021	30/05/2022	23/06/2022	French	PDF
Full model	31/12/2020	31/05/2021	29/06/2021	French	PDF
Full model	31/12/2019	25/05/2020	19/06/2020	French	PDF
Full model	31/12/2018	27/05/2019	25/06/2019	French	PDF
Full model	31/12/2017	06/06/2018	22/06/2018	French	PDF
Full model	31/12/2016	29/05/2017	27/06/2017	French	PDF
Full model	31/12/2015	30/05/2016	25/06/2016	French	PDF
Full model	31/12/2014	26/05/2015	09/06/2015	French	PDF
Full model	31/12/2013	19/06/2014	23/07/2014	French	PDF
Full model	31/12/2012	06/06/2013	12/07/2013	French	PDF
Full model	31/12/2011	29/06/2012	02/08/2012	French	PDF
Full model	31/12/2010	30/05/2011	01/07/2011	French	PDF
Full model	31/12/2009	31/05/2010	09/08/2010	French	PDF
Full model	31/12/2008	25/05/2009	24/07/2009	French	PDF
Full model	31/12/2007	26/05/2008	23/06/2008	French	PDF
Full model	31/12/2006	29/05/2007	29/06/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 · 42 ended

Active mandates

Serafien Bakery Group

Director · since 31 décembre 2024 · 1016.044.415

Represented by Frank Dossche

Active

Ended mandates

DOSSCHE INVEST

Director · since 29 décembre 2023 · until 31 décembre 2024 · 0464.350.876

Represented by Frank Dossche

Ended

DOSSCHE INVEST

Director · since 29 décembre 2023 · 0464.350.876

Represented by Frank Dossche

Ended

DW KRUISHOUTEM

Director · since 31 mai 2021 · until 25 mai 2026 · 0478.203.070

Represented by Kristof Dossche

Ended

DW KRUISHOUTEM

Managing director · since 31 mai 2021 · until 29 décembre 2023 · 0478.203.070

Represented by Kristof Dossche

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other27/08/2026
CONSTATATION DE LA VALEUR DEFINITIVE DES PATRIMOINES SCINDES |
PDF
Restructuring23/01/2026
CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates20/01/2026
DEMISSIONS, NOMINATIONS
PDF
Restructuring25/11/2025
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates13/06/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates19/03/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates08/01/2025
DEMISSIONS, NOMINATIONS
PDF
Restructuring04/10/2024
CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
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

31/12/2025
split
31/12/2025
reduction_capital
31/12/2025
augmentation_capital
2025
Annual accounts 2025571,6 k €↓
26/05/2025
reconductionRSM INTERAUDIT — commissaire
27/01/2025
nominationVERHAEGHE JOHN CONSULTING — délégué à la gestion journalière (Département Opérations)
31/12/2024
nominationSerafien Bakery Group — administrateur unique non statutaire
2024
Annual accounts 2024887,3 k €↓
30/07/2024
apport
01/03/2024
nominationThulan Consult — délégué à la gestion journalière
01/01/2024
apport
2023
Annual accounts 20239,6 M €↑
29/12/2023
nominationDOSSCHE INVEST — administrateur unique non statutaire
29/12/2023
nominationDOSSCHE Kristof — représentant adjoint
2022
Annual accounts 20226 M €↑
26/09/2022
nominationRSM InterAudit srl — commissaire
26/09/2022
nominationDW KRUISHOUTEM — administrateur délégué
2021
Annual accounts 20213,1 M €↑
2020
Annual accounts 2020-2,9 M €↓
2019
Annual accounts 20194,2 M €↑
2018
Annual accounts 20183,8 M €↑
2017
Annual accounts 20171 M €↓
2016
Annual accounts 20162,6 M €↓
2015
Annual accounts 20153,3 M €↑
2014
Annual accounts 20141,7 M €↑
2013
Annual accounts 20131,6 M €↓
2012
Annual accounts 20124,1 M €↑
2011
Annual accounts 20112,2 M €↑
2010
Annual accounts 20102,1 M €↑
2009
Annual accounts 2009-4,7 k €↓
2008
Annual accounts 20081,2 M €↑
2007
Annual accounts 2007126,7 k €↑
2006
Annual accounts 2006-1,3 M €
29/06/1984
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

GOURMAND

Overview

What does GOURMAND 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