ACTIVE

IMMODAN

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Financial year 2025 · closed on 31/12/2025

Net result

657,6 k €

-90.8% YoY

Revenue

450 k €

-13.9% YoY

Equity

29,2 M €

+209.7% YoY

What does IMMODAN do?

IMMODAN is a Public limited company incorporated in 1985. Its main activity is: Development of building projects. Its registered office is in Wortegem-Petegem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0428.076.440

Incorporation

08/11/1985

Legal form

Public limited company

Registered office

Waregemseweg (W.) 146
9790 Wortegem-Petegem · FlandreSee on map

Contributed capital

556 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

41101Development of building projects· main 68121Buying and selling of own real estate 70111Activities of head offices

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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
Revenue	450 k €	-13.9%	522,7 k €	+5.2%	496,8 k €	+0.1%	496,3 k €	+1.5%	489,1 k €	+2.8%	475,9 k €	+3.3%	460,7 k €	+9.5%	420,7 k €	-5.0%	442,8 k €	+1.2%	437,6 k €	-0.4%	439,5 k €	+2.7%	428,1 k €	-2.6%	439,3 k €	-5.6%	465,5 k €	+6.0%	439 k €	+53.9%	285,3 k €	+0.3%	284,4 k €	+5.4%	269,8 k €	+10.3%	244,6 k €	+0.8%	242,6 k €
EBITDA	884,6 k €	-90.8%	9,6 M €	+4324%	217,5 k €	-22.7%	281,3 k €	+10.6%	254,2 k €	-6.8%	272,9 k €	+18.6%	230,1 k €	+1.5%	226,8 k €	-19.8%	282,8 k €	-16.2%	337,3 k €	+59.6%	211,3 k €	-6.7%	226,6 k €	+8.0%	209,9 k €	-34.8%	321,8 k €	+30.2%	247,3 k €	+78.3%	138,7 k €	+14.7%	120,9 k €	+9.8%	110,1 k €	+21.5%	90,6 k €	-14.8%	106,4 k €
Operating result	795,3 k €	-91.7%	9,5 M €	+8334%	113 k €	-36.1%	176,9 k €	+18.1%	149,8 k €	-11.1%	168,5 k €	+36.8%	123,2 k €	+2.3%	120,4 k €	-30.6%	173,6 k €	-29.2%	245,2 k €	+112%	115,8 k €	-10.3%	129 k €	+23.7%	104,3 k €	-52.7%	220,4 k €	+39.3%	158,3 k €	+38.1%	114,6 k €	+11.9%	102,4 k €	+5.1%	97,4 k €	+19.1%	81,8 k €	-16.5%	97,9 k €
Net result	657,6 k €	-90.8%	7,1 M €	+135%	3 M €	+2470%	118 k €	+26.5%	93,3 k €	-14.8%	109,5 k €	+68.5%	65 k €	-9.6%	71,9 k €	-32.7%	106,8 k €	-29.1%	150,7 k €	+139%	63,2 k €	-31.3%	91,9 k €	+93.7%	47,4 k €	-58.4%	114,1 k €	+26.1%	90,4 k €	-4.2%	94,4 k €	-4.9%	99,3 k €	-0.8%	100 k €	-0.4%	100,5 k €	-24.8%	133,5 k €
Balance sheet
Equity	29,2 M €	+210%	9,4 M €	+154%	3,7 M €	-20.7%	4,7 M €	+2.6%	4,6 M €	+2.1%	4,5 M €	+2.5%	4,4 M €	+1.6%	4,3 M €	+1.7%	4,2 M €	+2.6%	4,1 M €	+3.8%	4 M €	+1.6%	3,9 M €	+2.4%	3,8 M €	+1.3%	3,8 M €	+3.1%	3,6 M €	+2.5%	3,6 M €	+2.7%	3,5 M €	+3.0%	3,4 M €	+1.8%	3,3 M €	+3.1%	3,2 M €
Total assets	33,1 M €	+126%	14,6 M €	+143%	6 M €	-3.9%	6,3 M €	-2.8%	6,5 M €	-3.2%	6,7 M €	-2.0%	6,8 M €	+2.5%	6,6 M €	+8.4%	6,1 M €	-8.9%	6,7 M €	+7.7%	6,2 M €	-4.7%	6,6 M €	-5.3%	6,9 M €	-3.5%	7,2 M €	-0.4%	7,2 M €	+19.9%	6 M €	+71.5%	3,5 M €	+2.2%	3,4 M €	+1.9%	3,4 M €	+3.3%	3,3 M €
Cash	518,2 k €	+15.6%	448,3 k €	+116%	207,9 k €	-15.2%	245,1 k €	-5.1%	258,3 k €	-26.9%	353,2 k €	+139%	147,5 k €	+50.1%	98,3 k €	-7.1%	105,8 k €	+202%	35 k €	-70.8%	120 k €	+40.3%	85,6 k €	-45.6%	157,4 k €	+38.8%	113,4 k €	-38.8%	185,4 k €	+4264%	4,2 k €	-96.8%	131,4 k €	-62.6%	351,3 k €	-40.0%	585,6 k €	+22.3%	478,7 k €
Debts	1,1 M €	-13.8%	1,2 M €	-45.3%	2,2 M €	+56.0%	1,4 M €	-17.4%	1,7 M €	-16.1%	2,1 M €	-12.4%	2,4 M €	+4.6%	2,3 M €	+21.5%	1,9 M €	-27.2%	2,5 M €	+13.8%	2,2 M €	-15.2%	2,6 M €	-14.8%	3,1 M €	-8.7%	3,4 M €	-3.9%	3,5 M €	+57.6%	2,2 M €	+13590%	16,4 k €	-58.1%	39 k €	+14.1%	34,2 k €	+27.5%	26,8 k €

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 · 2 active · 14 ended

Active mandates

Delmulle Holding

Managing director · since 01 juin 2023 · until 07 juin 2029 · 0466.439.940

Represented by Lucas Delmulle

Active

Delmulle Vastgoed

Director · since 01 juin 2023 · until 07 juin 2029 · 0466.439.841

Represented by Philippe Delmulle

Active

Ended mandates

Delmulle Holding

Managing director · since 01 juin 2017 · until 01 juin 2023 · 0466.439.940

Represented by Rudy Delmulle

Ended

Delmulle Vastgoed

Director · since 01 juin 2017 · until 01 juin 2023 · 0466.439.841

Represented by Philippe Delmulle

Ended

Delmulle Holding

Managing director · since 03 juin 2011 · until 03 juin 2017 · 0466.439.940

Represented by Rudy Delmulle

Ended

Delmulle Holding

Managing director · since 03 juin 2011 · until 01 juin 2017 · 0466.439.940

Represented by Rudy Delmulle

Ended

At this address

Other companies at this address

Company	CBE no.
Btw-eenheid Delmulle● Active	1020.522.548
DELMULLE● Active	0424.342.534

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	29/06/2026	03/07/2025	08/07/2024	11/07/2023	15/06/2022	07/07/2021
General meeting	04/06/2026	05/06/2025	06/06/2024	01/06/2023	02/06/2022	03/06/2021
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

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	04/06/2026	29/06/2026	Dutch	PDF
Full model	31/12/2024	05/06/2025	03/07/2025	Dutch	PDF
Full model	31/12/2023	06/06/2024	08/07/2024	Dutch	PDF
Full model	31/12/2022	01/06/2023	11/07/2023	Dutch	PDF
Full model	31/12/2021	02/06/2022	15/06/2022	Dutch	PDF
Full model	31/12/2020	03/06/2021	07/07/2021	Dutch	PDF
Full model	31/12/2019	04/06/2020	08/07/2020	Dutch	PDF
Full model	31/12/2018	06/06/2019	02/07/2019	Dutch	PDF
Full model	31/12/2017	07/06/2018	04/07/2018	Dutch	PDF
Full model	31/12/2016	01/06/2017	23/06/2017	Dutch	PDF
Full model	31/12/2015	02/06/2016	07/07/2016	Dutch	PDF
Full model	31/12/2014	04/06/2015	14/07/2015	Dutch	PDF
Full model	31/12/2013	05/06/2014	04/07/2014	Dutch	PDF
Full model	31/12/2012	06/06/2013	19/06/2013	Dutch	PDF
Full model	31/12/2011	07/06/2012	29/06/2012	Dutch	PDF
Full model	31/12/2010	03/06/2011	30/06/2011	Dutch	PDF
Full model	31/12/2009	03/06/2010	16/06/2010	Dutch	PDF
Full model	31/12/2008	04/06/2009	22/06/2009	Dutch	PDF
Full model	31/12/2007	05/06/2008	30/06/2008	Dutch	PDF
Full model	31/12/2006	07/06/2007	29/06/2007	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 · 2 active · 14 ended

Active mandates

Delmulle Holding

Managing director · since 01 juin 2023 · until 07 juin 2029 · 0466.439.940

Represented by Lucas Delmulle

Active

Delmulle Vastgoed

Director · since 01 juin 2023 · until 07 juin 2029 · 0466.439.841

Represented by Philippe Delmulle

Active

Ended mandates

Delmulle Holding

Managing director · since 01 juin 2017 · until 01 juin 2023 · 0466.439.940

Represented by Rudy Delmulle

Ended

Delmulle Vastgoed

Director · since 01 juin 2017 · until 01 juin 2023 · 0466.439.841

Represented by Philippe Delmulle

Ended

Delmulle Holding

Managing director · since 03 juin 2011 · until 03 juin 2017 · 0466.439.940

Represented by Rudy Delmulle

Ended

Delmulle Holding

Managing director · since 03 juin 2011 · until 01 juin 2017 · 0466.439.940

Represented by Rudy Delmulle

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other02/07/2026
—
PDF
Mandates29/12/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/09/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/02/2022
ONTSLAGEN - BENOEMINGEN
PDF
Other06/01/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DOEL
PDF
Mandates12/05/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/12/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/07/2017
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 2025657,6 k €↓
2024
Annual accounts 20247,1 M €↑
2023
Annual accounts 20233 M €↑
2022
Annual accounts 2022118 k €↑
2021
Annual accounts 202193,3 k €↓
2020
Annual accounts 2020109,5 k €↑
2019
Annual accounts 201965 k €↓
2018
Annual accounts 201871,9 k €↓
2017
Annual accounts 2017106,8 k €↓
2016
Annual accounts 2016150,7 k €↑
2015
Annual accounts 201563,2 k €↓
2014
Annual accounts 201491,9 k €↑
2013
Annual accounts 201347,4 k €↓
2012
Annual accounts 2012114,1 k €↑
2011
Annual accounts 201190,4 k €↓
2010
Annual accounts 201094,4 k €↓
2009
Annual accounts 200999,3 k €↓
2008
Annual accounts 2008100 k €↓
2007
Annual accounts 2007100,5 k €↓
2006
Annual accounts 2006133,5 k €
08/11/1985
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

IMMODAN

Overview

What does IMMODAN do?

Trend over 20 financial years

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