ACTIVE

MODUS

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Financial year 2025 · closed on 31/12/2025

Net result

19,8 k €

+86.1% YoY

Gross margin

63,8 k €

+17.7% YoY

Equity

636,7 k €

-12.5% YoY

What does MODUS do?

MODUS is a Private limited company incorporated in 1989. Its main activity is: Other business support service activities n.e.c.. Its registered office is in Deinze.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0438.181.365

Incorporation

01/09/1989

Legal form

Private limited company

Registered office

Winkelstraat 31 box a
9800 Deinze · FlandreSee on map

Contributed capital

7 438,09 €

Latest accounts

31/12/2025

Activities (NACE)

82990Other business support service activities n.e.c.· main 82990Other business support service activities n.e.c.

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	63,8 k €	+17.7%	54,2 k €	+337%	-22,8 k €	-104%	584,5 k €	+61.9%	361 k €	-3.9%	375,8 k €	-8.2%	409,2 k €	-5.5%	433 k €	-11.3%	488,3 k €	-14.3%	569,9 k €	-24.5%	754,6 k €	+10.6%	682,1 k €	-11.3%	768,7 k €	+5.7%	727,3 k €	+135%	309,2 k €	-29.4%	437,9 k €	-3.2%	452,4 k €	-1.4%	458,7 k €	+41.1%	325 k €	+128%	142,2 k €
EBITDA	59,9 k €	+18.4%	50,6 k €	+281%	-27,9 k €	-108%	331,7 k €	+161%	127,2 k €	-32.8%	189,1 k €	+7.5%	175,9 k €	-0.6%	177 k €	-1.6%	179,9 k €	-6.1%	191,6 k €	-42.3%	331,9 k €	+19.7%	277,3 k €	-27.2%	380,9 k €	+12.6%	338,2 k €	+599%	48,4 k €	-78.3%	222,6 k €	-14.2%	259,4 k €	-10.6%	290,1 k €	+9.4%	265,2 k €	+195%	89,9 k €
Operating result	20,2 k €	+106%	9,8 k €	+114%	-69,4 k €	-123%	300,2 k €	+297%	75,5 k €	-47.6%	144,1 k €	+5.1%	137,1 k €	+1.0%	135,8 k €	-3.5%	140,7 k €	-6.0%	149,7 k €	-46.1%	277,9 k €	+28.2%	216,8 k €	-28.6%	303,7 k €	+21.3%	250,3 k €	+1755%	-15,1 k €	-109%	173,1 k €	-21.1%	219,4 k €	-12.6%	251 k €	+7.8%	232,9 k €	+239%	68,6 k €
Net result	19,8 k €	+86.1%	10,7 k €	+117%	-62,5 k €	-127%	234,5 k €	+359%	51 k €	-48.3%	98,8 k €	-51.3%	203 k €	+85.9%	109,2 k €	+51.3%	72,2 k €	+12.9%	63,9 k €	-51.4%	131,4 k €	-27.9%	182,3 k €	-5.4%	192,6 k €	+1.3%	190,2 k €	+1595%	-12,7 k €	-109%	137,8 k €	-25.4%	184,8 k €	+4.0%	177,6 k €	+34.6%	131,9 k €	+184%	46,5 k €
Balance sheet
Equity	636,7 k €	-12.5%	727,6 k €	-13.4%	840,7 k €	-6.9%	903,2 k €	-36.7%	1,4 M €	+3.6%	1,4 M €	+7.6%	1,3 M €	+18.7%	1,1 M €	+11.2%	969,4 k €	-13.6%	1,1 M €	+2.7%	1,1 M €	-5.9%	1,2 M €	+18.6%	978,9 k €	-18.5%	1,2 M €	+56.7%	766,7 k €	-1.6%	779,4 k €	+21.5%	641,6 k €	+40.4%	456,8 k €	+47.8%	309,2 k €	+57.7%	196 k €
Total assets	827,9 k €	-5.9%	879,5 k €	-1.7%	894,7 k €	-6.5%	956,8 k €	-39.9%	1,6 M €	+1.3%	1,6 M €	+7.9%	1,5 M €	+16.7%	1,2 M €	+1.1%	1,2 M €	-12.0%	1,4 M €	-3.7%	1,5 M €	-10.0%	1,6 M €	+5.5%	1,5 M €	-6.2%	1,6 M €	+59.9%	1 M €	+1.2%	1 M €	+15.2%	876,1 k €	+38.4%	633,2 k €	+32.2%	478,8 k €	+53.1%	312,8 k €
Cash	396,6 k €	-5.7%	420,6 k €	+68.5%	249,6 k €	+60.4%	155,6 k €	-65.7%	452,9 k €	+8.3%	418,1 k €	+3.2%	405,3 k €	+110%	193,2 k €	+3.4%	186,8 k €	-63.6%	513,9 k €	+30.5%	393,8 k €	-4.6%	412,8 k €	+66.1%	248,5 k €	-51.2%	509,1 k €	+625%	70,2 k €	-71.3%	244,5 k €	-40.9%	413,6 k €	+297%	104,1 k €	+19.3%	87,3 k €	+39.9%	62,4 k €
Debts	149,2 k €	+34.4%	111,1 k €	+738%	13,3 k €	+91.0%	6,9 k €	-94.1%	117,3 k €	-19.3%	145,4 k €	+14.3%	127,2 k €	+7.2%	118,6 k €	-44.2%	212,4 k €	-6.4%	227 k €	-26.5%	308,7 k €	-22.8%	399,8 k €	-19.5%	496,6 k €	+33.1%	373,2 k €	+46.6%	254,6 k €	+10.8%	229,8 k €	-1.4%	233 k €	+33.2%	174,9 k €	+4.0%	168,1 k €	+45.8%	115,3 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		8,4 ETP	-6.7%	9,0 ETP	0.0%	9,0 ETP	-10.0%	10,0 ETP	0.0%	10,0 ETP	+66.7%	6,0 ETP	+20.0%	5,0 ETP	+25.0%	4,0 ETP	0.0%	4,0 ETP	+100%	2,0 ETP	0.0%	2,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 8 ended

Active mandates

Nancy Dumoulein

Director

Active

Ended mandates

Nancy Dumoulein

Manager · since 01 décembre 2018

Ended

Herman KIESEL

Manager · since 01 janvier 2012

Ended

Herman Kiesel

Director · until 17 août 2020

Ended

Herman Kiesel

Director

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	31/07/2026	30/08/2025	31/10/2024	31/08/2023	31/08/2022	31/08/2021
General meeting	28/06/2026	28/06/2025	28/06/2024	28/06/2023	01/05/2022	02/05/2021
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
Micro model	31/12/2025	28/06/2026	31/07/2026	Dutch	PDF
Micro model	31/12/2024	28/06/2025	30/08/2025	Dutch	PDF
Micro model	31/12/2023	28/06/2024	31/10/2024	Dutch	PDF
Micro model	31/12/2022	28/06/2023	31/08/2023	Dutch	PDF
Micro model	31/12/2021	01/05/2022	31/08/2022	Dutch	PDF
Micro model	31/12/2020	02/05/2021	31/08/2021	Dutch	PDF
Micro model	31/12/2019	03/05/2020	31/08/2020	Dutch	PDF
Micro model	31/12/2018	05/05/2019	31/08/2019	Dutch	PDF
Micro model	31/12/2017	18/06/2018	22/06/2018	Dutch	PDF
Abridged model	31/12/2016	26/06/2017	05/09/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	30/08/2016	Dutch	PDF
Abridged model	31/12/2014	29/06/2015	28/09/2015	Dutch	PDF
Abridged model	31/12/2013	20/06/2014	29/08/2014	Dutch	PDF
Abridged model	31/12/2012	10/06/2013	28/10/2013	Dutch	PDF
Abridged model	31/12/2011	10/04/2012	08/05/2012	Dutch	PDF
Abridged model	31/12/2010	23/05/2011	31/05/2011	Dutch	PDF
Abridged model	31/12/2009	19/05/2010	26/05/2010	Dutch	PDF
Abridged model	31/12/2008	22/04/2009	03/06/2009	Dutch	PDF
Abridged model	31/12/2007	08/05/2008	06/06/2008	Dutch	PDF
Abridged model	31/12/2006	10/05/2007	06/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 1 active · 8 ended

Active mandates

Nancy Dumoulein

Director

Active

Ended mandates

Nancy Dumoulein

Manager · since 01 décembre 2018

Ended

Herman KIESEL

Manager · since 01 janvier 2012

Ended

Herman Kiesel

Director · until 17 août 2020

Ended

Herman Kiesel

Director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office04/02/2026
MAATSCHAPPELIJKE ZETEL
PDF
Restructuring13/06/2023
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - WIJZIGING RECHTSVORM
PDF
Restructuring29/03/2023
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring14/02/2023
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
PDF
Mandates09/02/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/10/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/01/2019
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares06/04/2018
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

2025
Annual accounts 202519,8 k €↑
2024
Annual accounts 202410,7 k €↑
2023
Annual accounts 2023-62,5 k €↓
2022
Annual accounts 2022234,5 k €↑
2021
Annual accounts 202151 k €↓
2020
Annual accounts 202098,8 k €↓
2019
Annual accounts 2019203 k €↑
2018
Annual accounts 2018109,2 k €↑
2017
Annual accounts 201772,2 k €↑
2016
Annual accounts 201663,9 k €↓
2015
Annual accounts 2015131,4 k €↓
2014
Annual accounts 2014182,3 k €↓
2013
Annual accounts 2013192,6 k €↑
2012
Annual accounts 2012190,2 k €↑
2011
Annual accounts 2011-12,7 k €↓
2010
Annual accounts 2010137,8 k €↓
2009
Annual accounts 2009184,8 k €↑
2008
Annual accounts 2008177,6 k €↑
2007
Annual accounts 2007131,9 k €↑
2006
Annual accounts 200646,5 k €
01/09/1989
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

MODUS

Overview

What does MODUS do?

Trend over 20 financial years

Indicative valuation

Board of directors

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