ACTIVE

DIRINCO

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Financial year 2025 · closed on 31/12/2025

Net result

103,5 k €

-61.1% YoY

Gross margin

444,1 k €

-33.1% YoY

Equity

777 k €

+15.4% YoY

Workforce

2,9 ETP

-3.3% YoY

What does DIRINCO do?

DIRINCO is a Private limited company incorporated in 1988. Its main activity is: Wholesale of pharmaceutical goods. Its registered office is in Grimbergen. It employs on average 2,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0434.246.729

Incorporation

20/05/1988

Legal form

Private limited company

Registered office

Boechoutlaan 105 box 501
1853 Grimbergen · FlandreSee on map

Contributed capital

18 592,01 €

Latest accounts

31/12/2025

Average workforce

2,9 ETP

Activities (NACE)

46460Wholesale of pharmaceutical goods· main 46460Wholesale of pharmaceutical goods 85146Pre-primary education 86909Other human health activities 86995Other human health activities

Joint committees (3)

207
2070
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

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
Gross margin	444,1 k €	-33.1%	663,9 k €	+175%	241,7 k €	-32.4%	357,8 k €	-6.5%	382,5 k €	+47.2%	259,9 k €	+41.0%	184,3 k €	-10.7%	206,3 k €	+10.9%	186,1 k €	+181%	66,2 k €	-34.8%	101,5 k €	-9.2%	111,7 k €	+28.0%	87,3 k €	+7.6%	81,1 k €	-19.7%	101 k €	+9.3%	92,5 k €	+321%	22 k €	+11.5%	19,7 k €	+27.6%	15,4 k €	-76.5%	65,6 k €
EBITDA	154,3 k €	-59.3%	379,5 k €	+759%	44,2 k €	-73.8%	168,7 k €	-23.6%	221 k €	+82.9%	120,8 k €	+21423%	-566,6 €	-101%	71,8 k €	+24.8%	57,6 k €	+378%	-20,7 k €	-202%	20,4 k €	-44.5%	36,7 k €	+166%	13,8 k €	+131%	6 k €	-83.4%	36 k €	-61.1%	92,5 k €	+328%	-40,5 k €	-109%	-19,4 k €	-235%	14,4 k €	-77.1%	63 k €
Operating result	151,6 k €	-59.2%	371,9 k €	+825%	40,2 k €	-76.1%	168,3 k €	-23.7%	220,4 k €	+83.5%	120,1 k €	+6472%	-1,9 k €	-103%	70,5 k €	+25.1%	56,4 k €	+369%	-21 k €	-241%	14,9 k €	-52.6%	31,3 k €	+273%	8,4 k €	+1328%	587,9 €	-98.1%	30,7 k €	-66.8%	92,5 k €	+291%	-48,4 k €	-94.9%	-24,8 k €	-282%	13,7 k €	-74.2%	52,9 k €
Net result	103,5 k €	-61.1%	265,9 k €	+984%	24,5 k €	-78.8%	115,8 k €	-23.2%	150,8 k €	+82.9%	82,5 k €	+1112%	-8,2 k €	-119%	43,2 k €	+7.8%	40,1 k €	+265%	-24,3 k €	-755%	3,7 k €	-82.2%	20,8 k €	+4567%	446,1 €	+1.0%	441,5 €	-98.1%	22,9 k €	-72.1%	81,9 k €	+269%	-48,5 k €	-33.4%	-36,3 k €	+43.5%	-64,3 k €	-272%	37,3 k €
Balance sheet
Equity	777 k €	+15.4%	673,5 k €	+65.2%	407,6 k €	+6.4%	383,1 k €	+43.3%	267,2 k €	+130%	116,4 k €	+243%	33,9 k €	-19.4%	42,1 k €	+3767%	-1,1 k €	+97.2%	-41,2 k €	-143%	-16,9 k €	+17.9%	-20,6 k €	+50.2%	-41,5 k €	+1.1%	-41,9 k €	+1.0%	-42,4 k €	+35.1%	-65,2 k €	+55.7%	-147,2 k €	-49.1%	-98,7 k €	-58.2%	-62,4 k €	-3446%	1,9 k €
Total assets	1,3 M €	-12.8%	1,4 M €	-23.8%	1,9 M €	+138%	799,9 k €	+15.0%	695,4 k €	+17.8%	590,1 k €	-2.9%	607,7 k €	+12.9%	538,1 k €	+9.5%	491,6 k €	+6.8%	460,4 k €	+68.0%	274 k €	-11.5%	309,7 k €	+53.0%	202,4 k €	-18.3%	247,8 k €	+44.4%	171,6 k €	-21.2%	218 k €	+48.2%	147,1 k €	-12.4%	167,8 k €	+62.4%	103,3 k €	-19.0%	127,7 k €
Cash	182,7 k €	-18.3%	223,6 k €	-10.8%	250,7 k €	+98.3%	126,4 k €	+48.7%	85,1 k €	-32.2%	125,4 k €	-27.2%	172,2 k €	+67.8%	102,6 k €	+19.6%	85,8 k €	-44.2%	153,8 k €	+638%	20,9 k €	-77.3%	91,9 k €	+367%	19,7 k €	-72.7%	72,1 k €	+205%	23,6 k €	-69.5%	77,5 k €	+295%	19,6 k €	+4.4%	18,8 k €	-29.4%	26,6 k €	-35.0%	40,9 k €
Debts	485 k €	-37.4%	774,3 k €	-48.1%	1,5 M €	+258%	416,9 k €	-2.3%	426,6 k €	-9.7%	472,7 k €	-17.5%	572,8 k €	+15.7%	495,1 k €	+0.7%	491,7 k €	-1.8%	500,7 k €	+72.7%	290 k €	-12.0%	329,4 k €	+37.5%	239,5 k €	-16.1%	285,4 k €	+34.0%	213 k €	-24.8%	283,2 k €	-3.8%	294,3 k €	+13.7%	258,8 k €	+58.6%	163,1 k €	+32.5%	123,1 k €
Other
Workforce	2,9 ETP	-3.3%	3,0 ETP	0.0%	3,0 ETP	+66.7%	1,8 ETP	+5.9%	1,7 ETP	+21.4%	1,4 ETP	-30.0%	2,0 ETP	+25.0%	1,6 ETP	+14.3%	1,4 ETP	+40.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	+11.1%	0,9 ETP		–		0,6 ETP	-14.3%	0,7 ETP		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 11 ended

Active mandates

Paul Harms

Director · since 09 mai 1998

Active

Roelof Kuiper

Director · since 09 mai 1998

Active

Ended mandates

Maha Kansel

Director · since 01 octobre 2024

Ended

Maha Haimour

Director · since 29 août 2023

Ended

Maarten A. Nibbelke

Manager · since 19 mars 2007

Ended

Maarten Nibbelke

Manager · since 19 mars 2007

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	25/08/2026	08/09/2025	30/08/2024	31/08/2023	24/08/2022	26/08/2021
General meeting	04/05/2026	02/05/2025	05/06/2024	07/06/2023	01/06/2022	02/06/2021
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
Abridged model	31/12/2025	04/05/2026	25/08/2026	Dutch	PDF
Abridged model	31/12/2024	02/05/2025	08/09/2025	Dutch	PDF
Abridged model	31/12/2023	05/06/2024	30/08/2024	Dutch	PDF
Abridged model	31/12/2022	07/06/2023	31/08/2023	Dutch	PDF
Abridged model	31/12/2021	01/06/2022	24/08/2022	Dutch	PDF
Abridged model	31/12/2020	02/06/2021	26/08/2021	Dutch	PDF
Abridged model	31/12/2019	03/06/2020	31/08/2020	Dutch	PDF
Abridged model	31/12/2018	05/06/2019	20/08/2019	Dutch	PDF
Abridged model	31/12/2017	06/06/2018	29/08/2018	Dutch	PDF
Abridged model	31/12/2016	07/06/2017	31/08/2017	Dutch	PDF
Abridged model	31/12/2015	01/06/2016	30/08/2016	Dutch	PDF
Abridged model	31/12/2014	03/06/2015	29/06/2015	Dutch	PDF
Abridged model	31/12/2013	04/06/2014	18/08/2014	Dutch	PDF
Abridged model	31/12/2012	05/06/2013	08/08/2013	Dutch	PDF
Abridged model	31/12/2011	06/06/2012	13/07/2012	Dutch	PDF
Abridged model	31/12/2010	01/06/2011	23/06/2011	Dutch	PDF
Abridged model	31/12/2009	02/06/2010	27/08/2010	Dutch	PDF
Abridged model	31/12/2008	03/06/2009	31/08/2009	Dutch	PDF
Abridged model	31/12/2007	25/06/2008	25/08/2008	Dutch	PDF
Abridged model	31/12/2006	06/06/2007	12/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 2 active · 11 ended

Active mandates

Paul Harms

Director · since 09 mai 1998

Active

Roelof Kuiper

Director · since 09 mai 1998

Active

Ended mandates

Maha Kansel

Director · since 01 octobre 2024

Ended

Maha Haimour

Director · since 29 août 2023

Ended

Maarten A. Nibbelke

Manager · since 19 mars 2007

Ended

Maarten Nibbelke

Manager · since 19 mars 2007

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/07/2025
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/10/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/10/2023
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/10/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/09/2009
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/08/2007
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares25/02/2005
KAPITAAL - AANDELEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office28/10/2002
MAATSCHAPPELIJKE ZETEL
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 2025103,5 k €↓
2024
Annual accounts 2024265,9 k €↑
2023
Annual accounts 202324,5 k €↓
2022
Annual accounts 2022115,8 k €↓
2021
Annual accounts 2021150,8 k €↑
2020
Annual accounts 202082,5 k €↑
2019
Annual accounts 2019-8,2 k €↓
2018
Annual accounts 201843,2 k €↑
2017
Annual accounts 201740,1 k €↑
2016
Annual accounts 2016-24,3 k €↓
2015
Annual accounts 20153,7 k €↓
2014
Annual accounts 201420,8 k €↑
2013
Annual accounts 2013446,1 €↑
2012
Annual accounts 2012441,5 €↓
2011
Annual accounts 201122,9 k €↓
2010
Annual accounts 201081,9 k €↑
2009
Annual accounts 2009-48,5 k €↓
2008
Annual accounts 2008-36,3 k €↑
2007
Annual accounts 2007-64,3 k €↓
2006
Annual accounts 200637,3 k €
20/05/1988
IncorporationPrivate 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

DIRINCO

Overview

What does DIRINCO 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