ACTIVE

KADINE

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Financial year 2026 · closed on 31/01/2026

Net result

1,3 M €

-16.9% YoY

Revenue

67,3 M €

+13.6% YoY

Equity

16,1 M €

+8.5% YoY

Workforce

60,6 ETP

+15.9% YoY

What does KADINE do?

KADINE is a Private limited company incorporated in 1989. Its registered office is in Antwerpen. It employs on average 60,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0437.697.256

Incorporation

10/06/1989

Legal form

Private limited company

Registered office

Arenbergstraat 21
2000 Antwerpen · FlandreSee on map

Contributed capital

10 338 500,00 €

Latest accounts

31/01/2026

Average workforce

60,6 ETP

Joint committees (4)

Contacts

2 public details availableLog in to view

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 20 financial years

	2026		2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2010		2009		2008		2007		2006
Income statement
Revenue	67,3 M €	+13.6%	59,2 M €	+14.2%	51,8 M €	+9.1%	47,5 M €	+19.5%	39,8 M €	+22.7%	32,4 M €	-39.5%	53,6 M €	+1.6%	52,8 M €	+37.3%	38,4 M €	+20.0%	32 M €	-6.7%	34,3 M €	-6.3%	36,7 M €	+22.5%	29,9 M €	-1.4%	30,4 M €	-5.6%	32,2 M €	+7.1%	30 M €	-8.1%	32,7 M €	-11.7%	37 M €	-1.2%	37,5 M €	-22.0%	48 M €
EBITDA	6 M €	+15.6%	5,2 M €	-37.8%	8,4 M €	+42.3%	5,9 M €	+133%	2,5 M €	+178%	-3,2 M €	-241%	2,3 M €	+136%	973,1 k €	-67.7%	3 M €	+56.9%	1,9 M €	-3.4%	2 M €	-35.4%	3,1 M €	+61.8%	1,9 M €	-3.5%	2 M €	-18.8%	2,4 M €	+58.8%	1,5 M €	-57.4%	3,6 M €	+75.4%	2 M €	+36.9%	1,5 M €	-81.1%	7,9 M €
Operating result	3,4 M €	+9.8%	3,1 M €	-49.7%	6,1 M €	+49.3%	4,1 M €	+402%	816,8 k €	+115%	-5,3 M €	-804%	757,8 k €	+240%	-540,2 k €	-130%	1,8 M €	+58.7%	1,1 M €	+18.0%	968,8 k €	-49.5%	1,9 M €	+159%	740,6 k €	+154%	291,7 k €	-59.8%	724,8 k €	+115%	337,5 k €	-74.8%	1,3 M €	+256%	376,7 k €	+1.5%	371,1 k €	-94.8%	7,1 M €
Net result	1,3 M €	-16.9%	1,5 M €	-69.5%	5 M €	+147%	2 M €	+2866%	-73,1 k €	+99.0%	-7,2 M €	-3460%	-202,2 k €	+84.4%	-1,3 M €	-220%	1,1 M €	+214%	342,5 k €	+136%	-961,9 k €	-178%	1,2 M €	+254%	346,6 k €	+244%	-240,7 k €	-780%	35,4 k €	-92.9%	502,1 k €	-45.3%	917,3 k €	-35.8%	1,4 M €	-30.1%	2 M €	-56.0%	4,6 M €
Balance sheet
Equity	16,1 M €	+8.5%	14,8 M €	+11.4%	13,3 M €	+60.2%	8,3 M €	+32.3%	6,3 M €	-1.2%	6,3 M €	-3.0%	6,5 M €	-3.0%	6,7 M €	-16.1%	8 M €	+15.5%	7 M €	+84.3%	3,8 M €	-50.3%	7,6 M €	+19.3%	6,4 M €	+5.8%	6 M €	-3.8%	6,3 M €	-55.2%	14 M €	+3.7%	13,5 M €	+4.8%	12,9 M €	+4.3%	12,3 M €	+9.3%	11,3 M €
Total assets	33,8 M €	+3.4%	32,7 M €	-3.1%	33,7 M €	+17.3%	28,7 M €	+16.3%	24,7 M €	-4.0%	25,7 M €	-30.9%	37,2 M €	-3.4%	38,5 M €	+12.0%	34,4 M €	+2.7%	33,5 M €	+39.0%	24,1 M €	-10.3%	26,8 M €	+22.0%	22 M €	+6.2%	20,7 M €	-3.0%	21,3 M €	+24.7%	17,1 M €	-5.1%	18 M €	-0.8%	18,2 M €	-0.7%	18,3 M €	+11.7%	16,4 M €
Cash	4,9 M €	+51.4%	3,3 M €	-11.5%	3,7 M €	+67.8%	2,2 M €	-28.4%	3,1 M €	+82.7%	1,7 M €	+158%	649,5 k €	-19.8%	810,4 k €	+250%	231,7 k €	-71.8%	822,4 k €	+432%	154,6 k €	-75.9%	640,9 k €	+1297%	45,9 k €	-95.1%	938,4 k €	-9.7%	1 M €	-71.5%	3,6 M €	+40.9%	2,6 M €	-7.7%	2,8 M €	-4.3%	2,9 M €	+24.9%	2,3 M €
Debts	16,7 M €	-0.4%	16,8 M €	-13.5%	19,4 M €	-1.1%	19,6 M €	+7.7%	18,2 M €	-5.0%	19,1 M €	-36.8%	30,3 M €	-4.7%	31,8 M €	+20.8%	26,3 M €	+21.8%	21,6 M €	+17.7%	18,4 M €	+9.8%	16,7 M €	+28.3%	13 M €	+6.7%	12,2 M €	+3.9%	11,7 M €	+293%	3 M €	-33.7%	4,5 M €	-14.2%	5,3 M €	-12.0%	6 M €	+16.7%	5,1 M €
Other
Workforce	60,6 ETP	+15.9%	52,3 ETP	-2.1%	53,4 ETP	+5.7%	50,5 ETP	+6.8%	47,3 ETP	-14.6%	55,4 ETP	-16.7%	66,5 ETP	+5.6%	63,0 ETP	+4.8%	60,1 ETP	+2046%	2,8 ETP	-96.1%	71,3 ETP	-11.0%	80,1 ETP	-0.4%	80,4 ETP	-0.1%	80,5 ETP	+14.8%	70,1 ETP	+16.6%	60,1 ETP	+7.9%	55,7 ETP	+20.0%	46,4 ETP	-5.3%	49,0 ETP	-17.6%	59,5 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 31/01/2026 · 1 active · 1 ended

Active mandates

Esfandiar Eghtessadi

Director

Active

Ended mandates

Esfandiar EGHTESSADI

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
ANTLET● Active	0643.533.236
BEST PRACTICES CONSULTING● Active	0465.632.563
CADINE & CO● Active	0469.705.078
IMMO GRAANMARKT● Active	0876.146.857
LIANT● Active	0643.533.533
ONSEA CONSULTING● Active	0876.276.422

Annual accounts

Full financial information

	2026	2025	2024	2023	2022	2021
Type of account	Full model	Full model	Full model	Full model	Full model	Consolidated accounts
Start of the financial year	01/02/2025	01/02/2024	01/02/2023	01/02/2022	01/02/2021	01/02/2020
Closing of the financial year	31/01/2026	31/01/2025	31/01/2024	31/01/2023	31/01/2022	31/01/2021
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	01/07/2026	17/07/2025	10/07/2024	07/07/2023	11/08/2022	18/08/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	30/06/2023	30/06/2022	31/07/2021
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

32 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/01/2026	26/06/2026	01/07/2026	Dutch	PDF
Consolidated accounts	31/01/2026	26/06/2026	01/07/2026	Dutch	PDF
Full model	31/01/2025	27/06/2025	17/07/2025	Dutch	PDF
Consolidated accounts	31/01/2025	27/06/2025	17/07/2025	Dutch	PDF
Full model	31/01/2024	28/06/2024	10/07/2024	Dutch	PDF
Consolidated accounts	31/01/2024	28/06/2024	10/07/2024	Dutch	PDF
Full model	31/01/2023	30/06/2023	07/07/2023	Dutch	PDF
Consolidated accounts	31/01/2023	30/06/2023	07/07/2023	Dutch	PDF
Full model	31/01/2022	30/06/2022	11/08/2022	Dutch	PDF
Consolidated accounts	31/01/2022	30/06/2022	13/07/2022	Dutch	PDF
Full model	31/01/2021	31/07/2021	11/08/2021	Dutch	PDF
Consolidated accounts	31/01/2021	31/07/2021	18/08/2021	Dutch	PDF
Full model	31/01/2020	04/08/2020	05/08/2020	Dutch	PDF
Consolidated accounts	31/01/2020	19/08/2020	19/08/2020	Dutch	PDF
Full model	31/01/2019	09/10/2019	16/10/2019	Dutch	PDF
Consolidated accounts	31/01/2019	18/05/2020	18/05/2020	Dutch	PDF
Full model	31/01/2018	25/10/2018	25/10/2018	Dutch	PDF
Consolidated accounts	31/01/2018	08/11/2019	13/11/2019	Dutch	PDF
Full model	31/01/2017	25/09/2017	29/09/2017	Dutch	PDF
Consolidated accounts	31/01/2017	12/01/2018	24/01/2018	Dutch	PDF
Full model	31/01/2016	11/04/2017	07/06/2017	Dutch	PDF
Consolidated accounts	31/01/2016	31/07/2017	10/08/2017	Dutch	PDF
Full model	31/01/2015	31/07/2015	27/08/2015	French	PDF
Full model	31/01/2014	03/05/2014	19/08/2014	French	PDF

View all 32 filings

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 31/01/2026 · 1 active · 1 ended

Active mandates

Esfandiar Eghtessadi

Director

Active

Ended mandates

Esfandiar EGHTESSADI

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates10/07/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/02/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/01/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/02/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/02/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/05/2019
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares17/05/2017
DOEL - KAPITAAL - AANDELEN
PDF
Capital / shares03/03/2017
KAPITAAL - AANDELEN
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

2026
Annual accounts 20261,3 M €↓
2025
Annual accounts 20251,5 M €↓
2024
Annual accounts 20245 M €↑
2023
Annual accounts 20232 M €↑
2022
Annual accounts 2022-73,1 k €↑
2021
Annual accounts 2021-7,2 M €↓
2020
Annual accounts 2020-202,2 k €↑
2019
Annual accounts 2019-1,3 M €↓
2018
Annual accounts 20181,1 M €↑
2017
Annual accounts 2017342,5 k €↑
2016
Annual accounts 2016-961,9 k €↓
2015
Annual accounts 20151,2 M €↑
2014
Annual accounts 2014346,6 k €↑
2013
Annual accounts 2013-240,7 k €↓
2012
Annual accounts 201235,4 k €↓
2010
Annual accounts 2010502,1 k €↓
2009
Annual accounts 2009917,3 k €↓
2008
Annual accounts 20081,4 M €↓
2007
Annual accounts 20072 M €↓
2006
Annual accounts 20064,6 M €
10/06/1989
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

KADINE

Overview

What does KADINE 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