ACTIVE

CORDEEL BELGIUM

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Financial year 2024 · closed on 31/12/2024
Net result
11,4 M €
+94.8% YoY
Revenue
177,7 M €
-19.7% YoY
Equity
44 M €
+34.8% YoY
Workforce
163,4 ETP
-7.2% YoY

What does CORDEEL BELGIUM do?

CORDEEL BELGIUM is a Public limited company incorporated in 1985. Its main activity is: Construction of buildings. Its registered office is in Bilzen-Hoeselt. It employs on average 163,4 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0427.302.321
Incorporation
28/05/1985
Legal form
Public limited company
Registered office
Industrielaan 18
3730 Bilzen-Hoeselt · FlandreSee on map
Contributed capital
2 000 000,00 €
Latest accounts
31/12/2024
Average workforce
163,4 ETP
Activities (NACE)
41003Construction of buildings· main41203Construction of residential and non-residential buildings45211Maintenance and repair of motor vehicles45213Maintenance and repair of motor vehicles41001Construction of buildings41002Construction of buildings+2
Joint committees (3)
  • 124
  • 200
  • 218
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 19 financial years

2024202320222021202020192018201720162015201420132012201120102009200820072006
Income statement
Revenue177,7 M €221,3 M €247,6 M €201 M €210,1 M €183,9 M €154,5 M €147,4 M €141,6 M €121,2 M €121,3 M €136,5 M €108,8 M €103,8 M €84,6 M €61,7 M €83,1 M €64,7 M €45,1 M €
EBITDA9,5 M €6,4 M €25 M €19,8 M €8,5 M €8,3 M €4 M €6 M €5 M €4 M €4,5 M €4,6 M €3,9 M €3,9 M €1,3 M €1,3 M €3,2 M €810,3 k €1,3 M €
Operating result9,9 M €3,8 M €23,6 M €18,3 M €6,8 M €6,4 M €2,7 M €4,6 M €3,5 M €2,4 M €3,2 M €3,2 M €2,9 M €3 M €423,8 k €503,5 k €2,6 M €194,6 k €787,9 k €
Net result11,4 M €5,8 M €20 M €18,3 M €6,2 M €5,2 M €1,9 M €4,6 M €2,2 M €1,5 M €2,2 M €2,2 M €2 M €2 M €349,5 k €493,1 k €1,7 M €-169 k €612,3 k €
Balance sheet
Equity44 M €32,6 M €51,8 M €56,8 M €38,5 M €32,4 M €27,2 M €25,3 M €20,7 M €18,5 M €17 M €14,8 M €12,6 M €10,6 M €8,6 M €8,3 M €7,8 M €6 M €6,2 M €
Total assets110,6 M €112,5 M €128 M €117,7 M €112 M €102,3 M €79,7 M €75,5 M €76,3 M €64,1 M €53,4 M €57,8 M €50,8 M €49 M €31,2 M €31,3 M €39,2 M €45,1 M €25,4 M €
Cash5,7 M €5,6 M €4,1 M €5,1 M €1,8 M €2,3 M €3,9 M €7,4 M €4,4 M €2,6 M €2,7 M €2,6 M €6,3 M €680,4 k €1,6 M €1,1 M €903,6 k €485,2 k €1,4 M €
Debts64,6 M €78,6 M €76,1 M €60,5 M €73,2 M €69,8 M €52,4 M €49,6 M €54,8 M €45,3 M €36 M €41,6 M €37 M €37 M €21,4 M €22 M €29,3 M €38 M €18,1 M €
Other
Workforce163,4 ETP176,1 ETP212,9 ETP211,9 ETP214,1 ETP220,9 ETP213,3 ETP214,8 ETP213,4 ETP207,1 ETP212,1 ETP190,3 ETP162,4 ETP163,5 ETP161,9 ETP162,8 ETP165,4 ETP170,3 ETP175,3 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2024 · 3 active · 29 ended

Active mandates

Mastorus

Director · since 11 février 2025 · until 30 juin 2031 · 1018.512.569

Represented by Matias Raymaekers

Active
DHK PROJECTS

Director · since 26 septembre 2023 · until 30 juin 2029 · 0676.531.151

Represented by Kevin De Hainaut

Active
Erik De Bruyn

Director · since 28 juin 2019 · until 11 février 2025

Active

Ended mandates

Dirk Cordeel

Director · since 28 juin 2019 · until 26 septembre 2023

Ended
Dirk Cordeel

Director · since 28 juin 2019 · until 30 juin 2025

Ended
Erik De Bruyn

Director · since 28 juin 2019 · until 30 juin 2025

Ended
Filip Cordeel

Director · since 28 juin 2019 · until 26 septembre 2023

Ended
At this address

Other companies at this address

CompanyCBE no.
AMBIORIX REAL ESTATE BOUW & PROMOTIE● Active
0659.890.010
AMBIORIX REAL ESTATE (LandCo)● Active
0659.889.515
CLEG● Active
0826.105.745
CLEZ● Active
0826.104.161
CORDEEL MAINTENANCE● Active
0822.224.953
CORFIUS IMMO● Active
0661.775.471
DUNGELHOEFF PRIVATE● Active
0845.724.588
IMMO MOTCHES● Active
0454.707.591
JBCOR RE● Active
0675.937.174
JBCOR RE BOUW EN PROMOTIE● Active
0675.938.560
Land Aalst● Active
0846.242.549
Mijnpark woon en promotie● Active
0681.375.807
MOLCOR● Active
0723.941.187
Parking Alexianenweg● Active
0787.398.389
THV Cordeel - Haex Neeroeteren● Active
0647.738.977
THV Cordeel - Jaspers - Eyers● Active
0687.856.692
THV Dijledelta● Active
0564.840.797
THV Kapertoren● Active
0695.460.997
THV MECHELEN ZUIDPOORT II● Active
0501.994.301
THV VLAAMSE SCHOLEN VAN MORGEN● Active
0543.981.641
Annual accounts

Full financial information

202420232022202120202019
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202401/01/202301/01/202201/01/202101/01/202001/01/2019
Closing of the financial year31/12/202431/12/202331/12/202231/12/202131/12/202031/12/2019
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date01/07/202525/10/202424/08/202309/01/202312/07/202110/07/2020
General meeting30/06/202530/08/202430/06/202330/06/202230/06/202130/06/2020
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

22 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202430/06/202501/07/2025DutchPDF
Full modelCorrection31/12/202330/08/202425/10/2024DutchPDF
Full model31/12/202330/08/202413/09/2024DutchPDF
Full model31/12/202230/06/202324/08/2023DutchPDF
Full modelCorrection31/12/202130/06/202209/01/2023DutchPDF
Full model31/12/202130/06/202208/07/2022DutchPDF
Full model31/12/202030/06/202112/07/2021DutchPDF
Full model31/12/201930/06/202010/07/2020DutchPDF
Full model31/12/201828/06/201910/07/2019DutchPDF
Full model31/12/201730/06/201806/07/2018DutchPDF
Full model31/12/201630/06/201707/07/2017DutchPDF
Full model31/12/201530/06/201605/07/2016DutchPDF
Full model31/12/201430/06/201503/07/2015DutchPDF
Full modelCorrection31/12/201330/06/201430/06/2015DutchPDF
Full model31/12/201330/06/201404/07/2014DutchPDF
Full model31/12/201201/07/201309/07/2013DutchPDF
Full model31/12/201130/06/201206/07/2012DutchPDF
Full model31/12/201001/08/201116/08/2011DutchPDF
Full model31/12/200930/06/201007/07/2010DutchPDF
Full model31/12/200830/06/200910/07/2009DutchPDF
Full model31/12/200721/08/200808/09/2008DutchPDF
Full model31/12/200614/08/200730/11/2007DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 31/12/2024 · 3 active · 29 ended

Active mandates

Mastorus

Director · since 11 février 2025 · until 30 juin 2031 · 1018.512.569

Represented by Matias Raymaekers

Active
DHK PROJECTS

Director · since 26 septembre 2023 · until 30 juin 2029 · 0676.531.151

Represented by Kevin De Hainaut

Active
Erik De Bruyn

Director · since 28 juin 2019 · until 11 février 2025

Active

Ended mandates

Dirk Cordeel

Director · since 28 juin 2019 · until 26 septembre 2023

Ended
Dirk Cordeel

Director · since 28 juin 2019 · until 30 juin 2025

Ended
Erik De Bruyn

Director · since 28 juin 2019 · until 30 juin 2025

Ended
Filip Cordeel

Director · since 28 juin 2019 · until 26 septembre 2023

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Other07/09/2026
    RvB dd 12.08.2026 - bevoegdheidsdelegatie
    PDF
  • Capital / shares11/08/2026
    KAPITAAL - AANDELEN
    PDF
  • Mandates22/05/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates21/01/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Restructuring15/01/2026
    BENAMING - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Mandates12/12/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Restructuring20/11/2025
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Mandates20/08/2025
    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

Timeline

  1. 31/12/2025
    nominationVirtalis BV — bestuurder
  2. 31/12/2025
    augmentation_capital
  3. 07/06/2025
    nominationFrank Huybrechts — commissaris
  4. 01/04/2025
    nominationDE HAINAUT Kevin — bijzondere gevolmachtigde (Categorie 1)
  5. 01/04/2025
    nominationRAYMAEKERS Matias — bijzondere gevolmachtigde (Categorie 1)
  6. 01/04/2025
    nominationGuy Thyssen — bijzondere gevolmachtigde (Categorie 1)
  7. 01/04/2025
    nominationBenny Palmans — bijzondere gevolmachtigde (Categorie 2)
  8. 01/04/2025
    nominationTheo Huls — bijzondere gevolmachtigde (Categorie 2)
  9. 01/04/2025
    nominationKristien Olaerts — bijzondere gevolmachtigde (Categorie 2)
  10. 01/04/2025
    nominationKurt Geris — bijzondere gevolmachtigde (Categorie 2)
  11. 01/04/2025
    nominationHEYRMAN Gerry — bijzondere gevolmachtigde (Categorie 3)
  12. 01/04/2025
    nominationMaaike Pots — bijzondere gevolmachtigde (Categorie 4)
  13. 01/04/2025
    nominationArianne Vervliet — bijzondere gevolmachtigde voor publicatie
  14. 11/02/2025
    nominationMastorus BV — bestuurder
  15. 2024
    Annual accounts 202411,4 M €↑
  16. 31/07/2024
    autre
  17. 2023
    Annual accounts 20235,8 M €↓
  18. 18/10/2023
    reconductionBart Roose — commissaris
  19. 26/09/2023
    nominationDHK Projects BV — bestuurder
  20. 06/09/2023
    nominationFilip Cordeel — bijzondere gevolmachtigde (Categorie 1)
  21. 06/09/2023
    nominationGuy Thyssen — bijzondere gevolmachtigde (Categorie 1)
  22. 06/09/2023
    nominationBenny Palmans — bijzondere gevolmachtigde (Categorie 2)
  23. 06/09/2023
    nominationTheo Huls — bijzondere gevolmachtigde (Categorie 2)
  24. 06/09/2023
    nominationKristien Olaerts — bijzondere gevolmachtigde (Categorie 2)
  25. 06/09/2023
    nominationKurt Geris — bijzondere gevolmachtigde (Categorie 2)
  26. 06/09/2023
    nominationHilde Vangilbergen — bijzondere gevolmachtigde (Categorie 3 via Tsundoku Ventures BV)
  27. 06/09/2023
    nominationMaaike Pots — bijzondere gevolmachtigde (Categorie 4)
  28. 06/09/2023
    nominationArianne Vervliet — bijzondere gevolmachtigde voor publicatie
  29. 2022
    Annual accounts 202220 M €↑
  30. 2021
    Annual accounts 202118,3 M €↑
  31. 2020
    Annual accounts 20206,2 M €↑
  32. 2019
    Annual accounts 20195,2 M €↑
  33. 2018
    Annual accounts 20181,9 M €↓
  34. 2017
    Annual accounts 20174,6 M €↑
  35. 2016
    Annual accounts 20162,2 M €↑
  36. 2015
    Annual accounts 20151,5 M €↓
  37. 2014
    Annual accounts 20142,2 M €↓
  38. 2013
    Annual accounts 20132,2 M €↑
  39. 2012
    Annual accounts 20122 M €↑
  40. 2011
    Annual accounts 20112 M €↑
  41. 2010
    Annual accounts 2010349,5 k €↓
  42. 2009
    Annual accounts 2009493,1 k €↓
  43. 2008
    Annual accounts 20081,7 M €↑
  44. 2007
    Annual accounts 2007-169 k €↓
  45. 2006
    Annual accounts 2006612,3 k €
  46. 28/05/1985
    IncorporationPublic limited company