ACTIVE

MACSYS

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Financial year 2025 · closed on 31/12/2025

Net result

36,5 M €

+168.7% YoY

Revenue

88,8 M €

+52.8% YoY

Equity

11,8 M €

+14.3% YoY

Workforce

83,0 ETP

+4.5% YoY

What does MACSYS do?

MACSYS is a Public limited company incorporated in 1989. Its main activity is: Wholesale of information and communication equipment. Its registered office is in Dendermonde. It employs on average 83,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0437.343.702

Incorporation

28/04/1989

Legal form

Public limited company

Registered office

Hoogveld 10
9200 Dendermonde · FlandreSee on map

Contributed capital

743 680,57 €

Latest accounts

31/12/2025

Average workforce

83,0 ETP

Activities (NACE)

46500Wholesale of information and communication equipment· main 46520Wholesale of electronic and telecommunications equipment and parts 62010Computer programming activities 62100Computer programming, consultancy and related activities 72220Research and experimental development on social sciences and humanities 47400Retail sale of information and communication equipment in specialised stores+4

Joint committees (2)

Signals

ProfitableLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Revenue	88,8 M €	+52.8%	58,1 M €	-2.0%	59,3 M €	-7.8%	64,3 M €	-30.9%	93 M €	+51.2%	61,5 M €	+36.0%	45,3 M €	+7.5%	42,1 M €	-0.6%	42,4 M €	+1.5%	41,8 M €	+61.1%	25,9 M €	+463%	4,6 M €	+19.7%	3,8 M €	+70.8%	2,3 M €	+30.7%	1,7 M €	+5.6%	1,6 M €	+63.7%	997,4 k €		–
EBITDA	46,5 M €	+146%	18,9 M €	-14.0%	22 M €	-1.5%	22,3 M €	-26.4%	30,3 M €	+83.9%	16,5 M €	-2.1%	16,8 M €	+12.3%	15 M €	-1.5%	15,2 M €	-4.8%	16 M €	+203%	5,3 M €	+316%	1,3 M €	+25.9%	1 M €	+21.7%	828,7 k €	+10.3%	751,5 k €	+6.0%	709 k €	+36.3%	520,1 k €	+736%	62,2 k €
Operating result	42,6 M €	+176%	15,4 M €	-16.7%	18,5 M €	-2.0%	18,9 M €	-31.8%	27,7 M €	+95.8%	14,1 M €	-2.3%	14,5 M €	+9.0%	13,3 M €	-5.3%	14 M €	-6.4%	15 M €	+237%	4,4 M €	+446%	813,7 k €	+17.6%	692 k €	+9.1%	634,5 k €	+4.9%	604,8 k €	-3.4%	625,8 k €	+36.3%	459,2 k €	+638%	62,2 k €
Net result	36,5 M €	+169%	13,6 M €	-23.3%	17,7 M €	+24.6%	14,2 M €	-32.5%	21,1 M €	+95.2%	10,8 M €	+3.6%	10,4 M €	+8.5%	9,6 M €	+1.0%	9,5 M €	-6.1%	10,1 M €	+227%	3,1 M €	+465%	546,7 k €	+14.5%	477,3 k €	+6.0%	450,3 k €	-0.8%	453,9 k €	+4.4%	434,7 k €	+25.5%	346,5 k €	+186%	121,3 k €
Balance sheet
Equity	11,8 M €	+14.3%	10,3 M €	-9.1%	11,3 M €	+39.4%	8,1 M €	+43.4%	5,7 M €	-41.1%	9,6 M €	-48.3%	18,6 M €	-0.5%	18,7 M €	-22.4%	24,1 M €	+65.1%	14,6 M €	+226%	4,5 M €	+222%	1,4 M €	-14.1%	1,6 M €	+41.8%	1,1 M €	-32.5%	1,7 M €	+36.7%	1,2 M €	+54.2%	802,2 k €	-36.1%	1,3 M €
Total assets	62,1 M €	+96.2%	31,6 M €	-9.9%	35,1 M €	+16.6%	30,1 M €	-25.8%	40,6 M €	+72.2%	23,6 M €	+6.3%	22,2 M €	-8.9%	24,3 M €	-12.7%	27,9 M €	+39.8%	19,9 M €	+176%	7,2 M €	+110%	3,5 M €	+0.0%	3,4 M €	-11.3%	3,9 M €	+16.1%	3,3 M €	+13.7%	2,9 M €	-7.5%	3,2 M €	+17.1%	2,7 M €
Cash	8,1 M €	-34.5%	12,3 M €	+27.6%	9,6 M €	-21.8%	12,3 M €	+542%	1,9 M €	-70.4%	6,5 M €	-14.6%	7,6 M €	-31.8%	11,1 M €	-29.6%	15,8 M €	+444%	2,9 M €	+143%	1,2 M €	+45.8%	823,1 k €	-44.5%	1,5 M €	-47.7%	2,8 M €	+33.9%	2,1 M €	-11.2%	2,4 M €	-13.3%	2,8 M €	+4.1%	2,6 M €
Debts	49,4 M €	+141%	20,5 M €	-10.6%	22,9 M €	+8.1%	21,2 M €	-38.1%	34,2 M €	+154%	13,5 M €	+332%	3,1 M €	-41.2%	5,3 M €	+40.0%	3,8 M €	-29.2%	5,3 M €	+94.2%	2,8 M €	+33.6%	2,1 M €	+12.5%	1,8 M €	-33.3%	2,7 M €	+65.6%	1,7 M €	-2.9%	1,7 M €	-25.1%	2,3 M €	+56.1%	1,5 M €
Other
Workforce	83,0 ETP	+4.5%	79,4 ETP	+54.5%	51,4 ETP	+11.3%	46,2 ETP	+15.8%	39,9 ETP	+19.1%	33,5 ETP	+27.4%	26,3 ETP	+37.0%	19,2 ETP	+32.4%	14,5 ETP	+16.0%	12,5 ETP	+1.6%	12,3 ETP	+5.1%	11,7 ETP	-5.6%	12,4 ETP	-2.4%	12,7 ETP	+8.5%	11,7 ETP	0.0%	11,7 ETP	+200%	3,9 ETP	+95.0%	2,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 M€ and 500 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 34 ended

Active mandates

Frédéric DAUCHE

Director · since 12 juin 2024 · until 15 juillet 2028

Active

Isabelle EIMER

Director · since 15 juillet 2022 · until 14 juillet 2028

Active

CAB Selas

Director · since 30 octobre 2020 · until 29 octobre 2026

Represented by Jovana MOULARDE

Active

Ended mandates

CAB Selas

Director · since 15 juillet 2022 · until 30 octobre 2026

Represented by Jovana MOULARDE

Ended

CAB Selas.

Director · since 30 octobre 2020 · until 14 juillet 2022

Represented by Isabelle DEVIGNY

Ended

CAB Selas.

Director · since 30 octobre 2020 · until 15 juillet 2022

Represented by Isabelle Eimer

Ended

CAB Soc. d'exercice libéral par actions simplifiée

Director · since 30 octobre 2020

Represented by Isabelle DEVIGNY

Ended

At this address

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MEDISCH LABO MEDINA● Active	0436.264.626
VELAB● Active	0440.240.636

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	03/07/2026	15/07/2025	18/07/2024	24/07/2023	24/08/2022	23/07/2021
General meeting	18/06/2026	19/06/2025	20/06/2024	15/06/2023	12/08/2022	28/06/2021
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	18/06/2026	03/07/2026	Dutch	PDF
Full model	31/12/2024	19/06/2025	15/07/2025	Dutch	PDF
Full model	31/12/2023	20/06/2024	18/07/2024	Dutch	PDF
Full model	31/12/2022	15/06/2023	24/07/2023	Dutch	PDF
Full model	31/12/2021	12/08/2022	24/08/2022	Dutch	PDF
Full model	31/12/2020	28/06/2021	23/07/2021	Dutch	PDF
Full model	31/12/2019	18/06/2020	17/07/2020	Dutch	PDF
Full model	31/12/2018	20/06/2019	15/07/2019	Dutch	PDF
Full model	31/12/2017	21/06/2018	25/06/2018	Dutch	PDF
Full model	31/12/2016	26/06/2017	05/07/2017	Dutch	PDF
Full model	31/12/2015	16/06/2016	12/07/2016	Dutch	PDF
Full model	31/12/2014	18/06/2015	13/07/2015	Dutch	PDF
Full model	31/12/2013	19/06/2014	10/07/2014	Dutch	PDF
Full model	31/12/2012	20/06/2013	26/06/2013	Dutch	PDF
Full model	31/12/2011	21/06/2012	29/06/2012	Dutch	PDF
Full model	31/12/2010	16/06/2011	08/07/2011	Dutch	PDF
Full model	31/12/2009	17/06/2010	05/07/2010	Dutch	PDF
Abridged model	31/03/2008	12/09/2008	17/09/2008	Dutch	PDF
Abridged model	31/03/2007	14/09/2007	03/10/2007	Dutch	PDF
Abridged modelCorrection	31/03/2006	08/09/2006	20/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 M€ and 500 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 · 3 active · 34 ended

Active mandates

Frédéric DAUCHE

Director · since 12 juin 2024 · until 15 juillet 2028

Active

Isabelle EIMER

Director · since 15 juillet 2022 · until 14 juillet 2028

Active

CAB Selas

Director · since 30 octobre 2020 · until 29 octobre 2026

Represented by Jovana MOULARDE

Active

Ended mandates

CAB Selas

Director · since 15 juillet 2022 · until 30 octobre 2026

Represented by Jovana MOULARDE

Ended

CAB Selas.

Director · since 30 octobre 2020 · until 14 juillet 2022

Represented by Isabelle DEVIGNY

Ended

CAB Selas.

Director · since 30 octobre 2020 · until 15 juillet 2022

Represented by Isabelle Eimer

Ended

CAB Soc. d'exercice libéral par actions simplifiée

Director · since 30 octobre 2020

Represented by Isabelle DEVIGNY

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/08/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/02/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/07/2021
ONTSLAGEN - BENOEMINGEN
PDF
Other04/12/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates01/12/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/01/2020
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 202536,5 M €↑
2024
Annual accounts 202413,6 M €↓
2023
Annual accounts 202317,7 M €↑
2022
Annual accounts 202214,2 M €↓
2021
Annual accounts 202121,1 M €↑
2020
Annual accounts 202010,8 M €↑
2019
Annual accounts 201910,4 M €↑
2018
Annual accounts 20189,6 M €↑
2017
Annual accounts 20179,5 M €↓
2016
Annual accounts 201610,1 M €↑
2015
Annual accounts 20153,1 M €↑
2014
Annual accounts 2014546,7 k €↑
2013
Annual accounts 2013477,3 k €↑
2012
Annual accounts 2012450,3 k €↓
2011
Annual accounts 2011453,9 k €↑
2010
Annual accounts 2010434,7 k €↑
2009
Annual accounts 2009346,5 k €↑
2008
Annual accounts 2008121,3 k €
28/04/1989
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

MACSYS

Overview

What does MACSYS 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