ACTIVE

DHULST'

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Financial year 2025 · closed on 31/12/2025

Net result

388,3 k €

+121.7% YoY

Revenue

29,3 M €

+2.2% YoY

Equity

3,3 M €

+9.5% YoY

Workforce

65,9 ETP

+15.4% YoY

What does DHULST' do?

DHULST' is a Public limited company incorporated in 1986. Its registered office is in Lier. It employs on average 65,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0429.210.548

Incorporation

29/06/1986

Legal form

Public limited company

Registered office

Duwijckstraat 18
2500 Lier · FlandreSee on map

Contributed capital

1 181 388,95 €

Latest accounts

31/12/2025

Average workforce

65,9 ETP

Joint committees (3)

Contacts

2 public details availableLog in to view

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	29,3 M €	+2.2%	28,6 M €	+2.8%	27,8 M €	+41.6%	19,7 M €	+11.6%	17,6 M €	-2.8%	18,1 M €	+2.3%	17,7 M €	+58.7%	11,2 M €	+4.0%	10,7 M €	-9.9%	11,9 M €	+20.3%	9,9 M €	+4.1%	9,5 M €	-32.6%	14,1 M €	-3.6%	14,6 M €	+28.1%	11,4 M €	-1.3%	11,6 M €	+30.0%	8,9 M €		–
EBITDA	1,1 M €	+14.6%	963,9 k €	+19.3%	807,8 k €	+36.6%	591,2 k €	+32.9%	445 k €	+21.0%	367,9 k €	+92.0%	191,6 k €	+0.1%	191,5 k €	+195%	65 k €	-77.1%	283,3 k €	+89.1%	149,8 k €	-64.4%	421,4 k €	-18.8%	518,7 k €	+31.5%	394,6 k €	-0.9%	398 k €	+4.0%	382,8 k €	-13.2%	440,9 k €	+127%	194,2 k €
Operating result	825 k €	+51.7%	544 k €	+29.4%	420,5 k €	-4.2%	438,8 k €	+50.6%	291,4 k €	+65.3%	176,3 k €	+67.4%	105,3 k €	+12.0%	94 k €	+354%	-37 k €	-119%	191,4 k €	+305%	47,3 k €	-84.1%	297,9 k €	-19.1%	368,4 k €	+44.9%	254,2 k €	-5.3%	268,4 k €	+24.0%	216,4 k €	-27.6%	299 k €	+273%	80,3 k €
Net result	388,3 k €	+122%	175,2 k €	+62.9%	107,6 k €	-59.9%	268,2 k €	+28.4%	208,9 k €	+81.9%	114,8 k €	+53.3%	74,9 k €	+102%	37,1 k €	+515%	-8,9 k €	-106%	143,3 k €	+191%	49,2 k €	-76.1%	206,1 k €	-33.9%	311,6 k €	+93.5%	161,1 k €	-43.6%	285,6 k €	+42.9%	199,9 k €	-13.0%	229,8 k €	+242%	67,1 k €
Balance sheet
Equity	3,3 M €	+9.5%	3 M €	+0.8%	3 M €	-2.2%	3,1 M €	+0.6%	3,1 M €	+2.0%	3 M €	+54.3%	2 M €	+0.7%	1,9 M €	+2.0%	1,9 M €	-0.5%	1,9 M €	-1.2%	1,9 M €	+2.6%	1,9 M €	+1.1%	1,9 M €	+1.7%	1,8 M €	+3.2%	1,8 M €	+19.2%	1,5 M €	+15.5%	1,3 M €	+21.7%	1,1 M €
Total assets	15,6 M €	+15.4%	13,5 M €	-4.4%	14,1 M €	+14.0%	12,4 M €	+64.2%	7,5 M €	-17.7%	9,2 M €	+79.8%	5,1 M €	-26.2%	6,9 M €	+35.7%	5,1 M €	-2.4%	5,2 M €	+4.2%	5 M €	+13.8%	4,4 M €	-15.2%	5,2 M €	-0.8%	5,2 M €	-15.8%	6,2 M €	+38.5%	4,5 M €	+6.6%	4,2 M €	-1.4%	4,3 M €
Cash	534,7 k €	+273%	143,2 k €	+101%	71,4 k €	-2.1%	72,9 k €	+28.6%	56,7 k €	-27.8%	78,6 k €	-82.8%	457,9 k €	-10.5%	511,8 k €	-18.1%	625,2 k €	-59.9%	1,6 M €	-16.0%	1,9 M €	+162%	708,8 k €	+106%	343,9 k €	-31.3%	500,6 k €	+29.6%	386,3 k €	+54.5%	250,1 k €	+107%	120,9 k €	-87.9%	1 M €
Debts	12,1 M €	+16.6%	10,4 M €	-4.6%	10,9 M €	+19.7%	9,1 M €	+110%	4,3 M €	-28.4%	6,1 M €	+96.1%	3,1 M €	-36.7%	4,9 M €	+57.0%	3,1 M €	-3.3%	3,2 M €	+8.3%	3 M €	+23.8%	2,4 M €	-25.0%	3,2 M €	+0.1%	3,2 M €	-26.8%	4,4 M €	+49.8%	2,9 M €	+2.1%	2,9 M €	-10.0%	3,2 M €
Other
Workforce	65,9 ETP	+15.4%	57,1 ETP	-8.8%	62,6 ETP	-1.1%	63,3 ETP	+11.2%	56,9 ETP	+2.9%	55,3 ETP	+24.5%	44,4 ETP	+6.7%	41,6 ETP	-0.5%	41,8 ETP	-3.5%	43,3 ETP	-0.2%	43,4 ETP	-0.9%	43,8 ETP	+4.0%	42,1 ETP	-5.6%	44,6 ETP	-4.1%	46,5 ETP	+0.9%	46,1 ETP	-1.9%	47,0 ETP	-1.7%	47,8 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 · 37 ended

Active mandates

KAORI

Director · since 11 juillet 2025 · until 09 juin 2029 · 0759.827.823

Represented by Charlotte D'Hulst

Active

Karel Dierick

Director · since 10 juin 2023 · until 09 juin 2029

Active

NOVAEDES

Director · since 10 juin 2023 · until 03 juillet 2025 · 0455.499.429

Represented by Patrick D'Hulst

Active

WOEPICONSTRUCT

Managing director · since 10 juin 2023 · until 09 juin 2029 · 0833.031.842

Represented by Sophie D'Hulst

Active

Ended mandates

NOVAEDES

Director · since 10 juin 2023 · until 09 juin 2029 · 0455.499.429

Represented by Patrick D'Hulst

Ended

NOVAEDES

Director · since 10 juin 2023 · until 09 juin 2029 · 0455.499.429

Represented by Patrick D'Hulst

Ended

WOEPICONSTRUCT

Managing director · since 10 juin 2023 · until 09 juin 2029 · 0833.031.842

Represented by Sophie D'Hulst

Ended

Karel Dierick

Director · since 10 juin 2017 · until 10 juin 2023

Ended

At this address

Other companies at this address

Company	CBE no.
NOVAEDES● Active	0455.499.429
Tijdelijke Maatschap dhulst-Stramien● Active	0801.290.571
TM dhulst - BENEENS● Active	1037.468.448

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	26/06/2026	23/06/2025	03/07/2024	22/06/2023	15/06/2022	25/06/2021
General meeting	13/06/2026	14/06/2025	08/06/2024	10/06/2023	11/06/2022	12/06/2021
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	13/06/2026	26/06/2026	Dutch	PDF
Full model	31/12/2024	14/06/2025	23/06/2025	Dutch	PDF
Full model	31/12/2023	08/06/2024	03/07/2024	Dutch	PDF
Full model	31/12/2022	10/06/2023	22/06/2023	Dutch	PDF
Full model	31/12/2021	11/06/2022	15/06/2022	Dutch	PDF
Full model	31/12/2020	12/06/2021	25/06/2021	Dutch	PDF
Full model	31/12/2019	13/06/2020	10/07/2020	Dutch	PDF
Full model	31/12/2018	08/06/2019	26/06/2019	Dutch	PDF
Full model	31/12/2017	09/06/2018	20/08/2018	Dutch	PDF
Full model	31/12/2016	10/06/2017	21/06/2017	Dutch	PDF
Full model	31/12/2015	11/06/2016	17/06/2016	Dutch	PDF
Full model	31/12/2014	13/06/2015	25/06/2015	Dutch	PDF
Full model	31/12/2013	14/06/2014	18/06/2014	Dutch	PDF
Full model	31/12/2012	08/06/2013	13/06/2013	Dutch	PDF
Full model	31/12/2011	09/06/2012	21/06/2012	Dutch	PDF
Full model	31/12/2010	11/06/2011	23/06/2011	Dutch	PDF
Full model	31/12/2009	12/06/2010	08/07/2010	Dutch	PDF
Full model	31/12/2008	13/06/2009	10/07/2009	Dutch	PDF
Full model	31/12/2007	14/06/2008	23/06/2008	Dutch	PDF
Abridged model	31/12/2006	09/06/2007	21/06/2007	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 · 37 ended

Active mandates

KAORI

Director · since 11 juillet 2025 · until 09 juin 2029 · 0759.827.823

Represented by Charlotte D'Hulst

Active

Karel Dierick

Director · since 10 juin 2023 · until 09 juin 2029

Active

NOVAEDES

Director · since 10 juin 2023 · until 03 juillet 2025 · 0455.499.429

Represented by Patrick D'Hulst

Active

WOEPICONSTRUCT

Managing director · since 10 juin 2023 · until 09 juin 2029 · 0833.031.842

Represented by Sophie D'Hulst

Active

Ended mandates

NOVAEDES

Director · since 10 juin 2023 · until 09 juin 2029 · 0455.499.429

Represented by Patrick D'Hulst

Ended

NOVAEDES

Director · since 10 juin 2023 · until 09 juin 2029 · 0455.499.429

Represented by Patrick D'Hulst

Ended

WOEPICONSTRUCT

Managing director · since 10 juin 2023 · until 09 juin 2029 · 0833.031.842

Represented by Sophie D'Hulst

Ended

Karel Dierick

Director · since 10 juin 2017 · until 10 juin 2023

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/07/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Registered office12/12/2022
MAATSCHAPPELIJKE ZETEL
PDF
Mandates15/07/2022
BENAMING - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/08/2020
ONTSLAGEN - BENOEMINGEN
PDF
Other04/05/2018
BENAMING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates16/08/2017
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 2025388,3 k €↑
2024
Annual accounts 2024175,2 k €↑
2023
Annual accounts 2023107,6 k €↓
2022
Annual accounts 2022268,2 k €↑
2021
Annual accounts 2021208,9 k €↑
2020
Annual accounts 2020114,8 k €↑
2017
Annual accounts 201774,9 k €↑
2017
Name changeDhulst'
2016
Annual accounts 201637,1 k €↑
2015
Annual accounts 2015-8,9 k €↓
2014
Annual accounts 2014143,3 k €↑
2013
Annual accounts 201349,2 k €↓
2012
Annual accounts 2012206,1 k €↓
2011
Annual accounts 2011311,6 k €↑
2010
Annual accounts 2010161,1 k €↓
2009
Annual accounts 2009285,6 k €↑
2008
Annual accounts 2008199,9 k €↓
2007
Annual accounts 2007229,8 k €↑
2006
Annual accounts 200667,1 k €
2006
Name changeD'HULST - VAN RYMENANT
29/06/1986
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

DHULST'

Overview

What does DHULST' do?

Trend over 18 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