ACTIVE

ADELPHI

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Financial year 2025 · closed on 31/12/2025

Net result

-290,5 k €

+9.7% YoY

Gross margin

294,1 k €

+116.4% YoY

Equity

1,4 M €

-16.8% YoY

What does ADELPHI do?

ADELPHI is a Public limited company incorporated in 1989. Its registered office is in Grimbergen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0437.791.682

Incorporation

13/06/1989

Legal form

Public limited company

Registered office

Sint-Amandsstraat 93
1853 Grimbergen · FlandreSee on map

Contributed capital

235 498,85 €

Latest accounts

31/12/2025

Signals

Positive EBITDA

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	294,1 k €	+116%	135,9 k €	-13.4%	157 k €	-12.3%	179,1 k €	-22.4%	230,8 k €	+14.1%	202,4 k €	+79.3%	112,8 k €	-30.9%	163,2 k €	-17.9%	198,7 k €	+2.9%	193,1 k €	-5.1%	203,5 k €	-2.7%	209,3 k €	+25.8%	166,3 k €	+51.7%	109,6 k €	-24.4%	145,1 k €	-49.4%	286,6 k €	+37.9%	207,8 k €	+20.5%	172,4 k €	+15.1%	149,9 k €	-18.5%	183,8 k €
EBITDA	192,8 k €	+55.9%	123,7 k €	-11.5%	139,8 k €	-17.7%	169,9 k €	-25.9%	229,5 k €	+14.3%	200,8 k €	+92.1%	104,5 k €	-30.6%	150,6 k €	-23.5%	196,9 k €	+4.1%	189,2 k €	-4.6%	198,2 k €	-3.2%	204,7 k €	+56.0%	131,2 k €	+39.4%	94,1 k €	-34.2%	142,9 k €	-39.6%	236,7 k €	+53.0%	154,7 k €	+29.1%	119,9 k €	+7.6%	111,4 k €	-20.6%	140,3 k €
Operating result	108,9 k €	+3897%	2,7 k €	-96.0%	67,5 k €	-31.7%	98,9 k €	-35.3%	152,9 k €	+13.8%	134,3 k €	+340%	30,5 k €	-57.2%	71,3 k €	-47.0%	134,6 k €	+7.4%	125,3 k €	-11.3%	141,2 k €	-3.2%	145,9 k €	+107%	70,5 k €	+42.2%	49,5 k €	-52.4%	104 k €	-46.9%	195,9 k €	+69.1%	115,9 k €	+43.1%	81 k €	+35.8%	59,6 k €	-28.4%	83,3 k €
Net result	-290,5 k €	+9.7%	-321,7 k €	-48.0%	-217,3 k €	-310%	-53 k €	-1203%	-4,1 k €	+84.8%	-26,8 k €	+82.2%	-150,5 k €	-423%	-28,8 k €	-245%	19,8 k €	+18.6%	16,7 k €	-44.1%	29,9 k €	-9.9%	33,1 k €	-36.6%	52,3 k €	+109%	25 k €	-59.5%	61,6 k €	-62.7%	165 k €	+211%	53 k €	+301%	-26,4 k €	+17.2%	-31,9 k €	-370%	11,8 k €
Balance sheet
Equity	1,4 M €	-16.8%	1,7 M €	-15.7%	2 M €	-9.6%	2,3 M €	-2.3%	2,3 M €	+66420%	3,5 k €	-88.5%	30,3 k €	-83.3%	180,8 k €	-13.7%	209,6 k €	+10.4%	189,8 k €	+9.6%	173,1 k €	+20.9%	143,2 k €	+30.1%	110,1 k €	+90.4%	57,8 k €	+76.1%	32,8 k €	+214%	-28,8 k €	+85.1%	-193,7 k €	+21.5%	-246,8 k €	-12.0%	-220,3 k €	-16.9%	-188,5 k €
Total assets	8,3 M €	-0.9%	8,4 M €	+1.6%	8,2 M €	-0.4%	8,3 M €	+0.1%	8,3 M €	+36.0%	6,1 M €	-0.1%	6,1 M €	-19.5%	7,6 M €	+1.2%	7,5 M €	+1.0%	7,4 M €	+0.7%	7,3 M €	+17.0%	6,3 M €	-0.6%	6,3 M €	+356%	1,4 M €	-1.0%	1,4 M €	-2.3%	1,4 M €	-1.1%	1,4 M €	-3.1%	1,5 M €	-5.0%	1,6 M €	-2.5%	1,6 M €
Cash	32,3 k €	+24.5%	25,9 k €	+1130%	2,1 k €	-94.0%	35,2 k €	+999%	3,2 k €	-96.4%	89,5 k €	+166%	33,6 k €	+643%	4,5 k €	-90.5%	47,5 k €	+4.0%	45,7 k €	+3435%	1,3 k €	-90.6%	13,7 k €	+0.8%	13,6 k €	-69.9%	45,1 k €	+8.5%	41,6 k €	-6.4%	44,4 k €	+22.6%	36,2 k €	-30.8%	52,3 k €	-37.3%	83,5 k €	-14.2%	97,3 k €
Debts	6,9 M €	+3.3%	6,6 M €	+7.4%	6,2 M €	+3.2%	6 M €	+1.0%	5,9 M €	-2.1%	6,1 M €	+0.4%	6 M €	-18.0%	7,4 M €	+1.9%	7,2 M €	+0.7%	7,2 M €	+0.3%	7,2 M €	+17.0%	6,1 M €	-1.1%	6,2 M €	+368%	1,3 M €	-0.7%	1,3 M €	-6.6%	1,4 M €	-11.4%	1,6 M €	-5.8%	1,7 M €	-3.4%	1,8 M €	-1.1%	1,8 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 32 ended

Active mandates

Frank van Bellingen

Managing director · since 08 mai 2024 · until 08 mai 2030

Active

Joris van Bellingen

Managing director · since 08 mai 2024 · until 08 mai 2030

Active

Ended mandates

Frank van Bellingen

Managing director · since 16 septembre 2022 · until 08 mai 2024

Ended

Rose-Marie Lenaerts

Director · since 20 août 2020 · until 08 mai 2024

Ended

Joris van Bellingen

Managing director · since 08 mai 2019 · until 08 mai 2024

Ended

Yasmine van Bellingen

Director · since 08 mai 2019 · until 16 août 2020

Ended

At this address

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TRILITHON● Active	0477.292.062

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	27/08/2026	29/08/2025	30/08/2024	24/07/2023	29/07/2022	01/07/2021
General meeting	19/06/2026	20/06/2025	21/06/2024	29/06/2023	30/06/2022	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	19/06/2026	27/08/2026	Dutch	PDF
Abridged model	31/12/2024	20/06/2025	29/08/2025	Dutch	PDF
Abridged model	31/12/2023	21/06/2024	30/08/2024	Dutch	PDF
Abridged model	31/12/2022	29/06/2023	24/07/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	29/07/2022	Dutch	PDF
Abridged model	31/12/2020	02/06/2021	01/07/2021	Dutch	PDF
Abridged model	31/12/2019	13/05/2020	03/06/2020	Dutch	PDF
Abridged model	31/12/2018	29/05/2019	19/06/2019	Dutch	PDF
Abridged model	31/12/2017	09/05/2018	31/07/2018	Dutch	PDF
Abridged model	31/12/2016	10/05/2017	31/08/2017	Dutch	PDF
Abridged model	31/12/2015	11/05/2016	03/08/2016	Dutch	PDF
Abridged model	31/12/2014	13/05/2015	14/08/2015	Dutch	PDF
Abridged model	31/12/2013	14/05/2014	30/09/2014	Dutch	PDF
Abridged model	31/12/2012	08/05/2013	31/08/2013	Dutch	PDF
Abridged model	31/12/2011	09/05/2012	26/09/2012	Dutch	PDF
Abridged model	30/12/2010	11/05/2011	29/06/2011	Dutch	PDF
Abridged model	30/12/2009	29/06/2010	28/07/2010	Dutch	PDF
Abridged model	30/12/2008	15/10/2009	20/10/2009	Dutch	PDF
Abridged model	30/12/2007	15/09/2008	29/09/2008	Dutch	PDF
Abridged model	30/12/2006	09/05/2007	29/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 32 ended

Active mandates

Frank van Bellingen

Managing director · since 08 mai 2024 · until 08 mai 2030

Active

Joris van Bellingen

Managing director · since 08 mai 2024 · until 08 mai 2030

Active

Ended mandates

Frank van Bellingen

Managing director · since 16 septembre 2022 · until 08 mai 2024

Ended

Rose-Marie Lenaerts

Director · since 20 août 2020 · until 08 mai 2024

Ended

Joris van Bellingen

Managing director · since 08 mai 2019 · until 08 mai 2024

Ended

Yasmine van Bellingen

Director · since 08 mai 2019 · until 16 août 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/11/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/09/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/11/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/02/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/05/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/03/2016
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/07/2014
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 2025-290,5 k €↑
2024
Annual accounts 2024-321,7 k €↓
2023
Annual accounts 2023-217,3 k €↓
2022
Annual accounts 2022-53 k €↓
2021
Annual accounts 2021-4,1 k €↑
2020
Annual accounts 2020-26,8 k €↑
2019
Annual accounts 2019-150,5 k €↓
2018
Annual accounts 2018-28,8 k €↓
2017
Annual accounts 201719,8 k €↑
2016
Annual accounts 201616,7 k €↓
2015
Annual accounts 201529,9 k €↓
2014
Annual accounts 201433,1 k €↓
2013
Annual accounts 201352,3 k €↑
2012
Annual accounts 201225 k €↓
2011
Annual accounts 201161,6 k €↓
2010
Annual accounts 2010165 k €↑
2009
Annual accounts 200953 k €↑
2008
Annual accounts 2008-26,4 k €↑
2007
Annual accounts 2007-31,9 k €↓
2006
Annual accounts 200611,8 k €
13/06/1989
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

ADELPHI

Overview

What does ADELPHI 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