ACTIVE

ZELCO

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Financial year 2025 · closed on 31/12/2025

Net result

1,4 M €

+737.3% YoY

Gross margin

11,8 k €

-94.5% YoY

Equity

1,8 M €

+295.7% YoY

What does ZELCO do?

ZELCO is a Public limited company incorporated in 1989. Its main activity is: Management consultancy activities. Its registered office is in Lievegem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0438.258.173

Incorporation

01/09/1989

Legal form

Public limited company

Registered office

Weststraat 119
9950 Lievegem · FlandreSee on map

Contributed capital

80 565,40 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 01430Raising of horses and other equines 01430Raising of horses and other equines 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate

Joint committees (3)

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	11,8 k €	-94.5%	215,1 k €	+136%	91,3 k €	+5.9%	86,2 k €	-54.9%	191,1 k €	-65.2%	549,1 k €	+146%	222,9 k €	-8.3%	242,9 k €	+5.6%	230,1 k €	+2.3%	224,8 k €	+10.4%	203,7 k €	+23.0%	165,5 k €	+7.6%	153,9 k €	-6.9%	165,3 k €	-1.3%	167,5 k €	+8.6%	154,2 k €	-20.7%	194,5 k €	+18.3%	164,5 k €	-0.4%	165,1 k €	-51.6%	341,5 k €
EBITDA	93,5 €	-100.0%	205,2 k €	+149%	82,5 k €	+40.4%	58,7 k €	-36.3%	92,2 k €	-78.3%	425,8 k €	+266%	116,2 k €	-12.5%	132,8 k €	+1.6%	130,8 k €	-13.8%	151,8 k €	+15.8%	131 k €	-5.8%	139,1 k €	-4.8%	146,2 k €	-2.2%	149,6 k €	-3.3%	154,7 k €	+6.1%	145,8 k €	-22.6%	188,3 k €	+19.0%	158,2 k €	+1.0%	156,7 k €	-11.0%	176,1 k €
Operating result	-105,7 k €	-187%	122,1 k €	+734%	14,6 k €	+613%	-2,9 k €	-110%	28,9 k €	-91.9%	358,7 k €	+1393%	24 k €	-36.7%	37,9 k €	+51.3%	25,1 k €	-35.3%	38,7 k €	+39.2%	27,8 k €	-25.3%	37,2 k €	-23.6%	48,7 k €	-10.5%	54,4 k €	+83.7%	29,6 k €	-4.0%	30,9 k €	-59.2%	75,6 k €	+52.9%	49,5 k €	+54.7%	32 k €	-27.8%	44,3 k €
Net result	1,4 M €	+737%	172,4 k €	+1042%	15,1 k €	+2.0%	14,8 k €	-66.1%	43,7 k €	-81.8%	240,4 k €	+3407%	6,9 k €	+221683%	3,1 €	-99.5%	611,9 €	-84.2%	3,9 k €	-62.2%	10,2 k €	+20.8%	8,5 k €	-41.8%	14,6 k €	+37.2%	10,6 k €	+234%	3,2 k €	+85.3%	1,7 k €	-93.6%	27 k €	+53.6%	17,5 k €	+139%	7,4 k €	+285%	1,9 k €
Balance sheet
Equity	1,8 M €	+296%	454,4 k €	-5.7%	482 k €	-10.2%	536,9 k €	+2.8%	522 k €	+9.1%	478,4 k €	+101%	238 k €	+3.0%	231,2 k €	+0.0%	231,2 k €	+0.3%	230,5 k €	+1.7%	226,7 k €	+4.7%	216,5 k €	+4.1%	208 k €	+7.5%	193,4 k €	+5.8%	182,8 k €	+1.8%	179,6 k €	+1.0%	177,9 k €	+17.9%	151 k €	+13.2%	133,4 k €	+5.8%	126,1 k €
Total assets	2,4 M €	+71.5%	1,4 M €	+13.0%	1,2 M €	+14.7%	1,1 M €	+1.5%	1,1 M €	-3.5%	1,1 M €	+22.7%	896,9 k €	-18.5%	1,1 M €	+9.1%	1 M €	-1.6%	1 M €	+1.0%	1 M €	+28.9%	787,5 k €	+2.5%	768,5 k €	+8.8%	706,3 k €	-9.3%	778,8 k €	+5.8%	736,2 k €	+1.6%	724,9 k €	-3.0%	747,6 k €	+9.9%	680,1 k €	-20.7%	857,8 k €
Cash	861,6 k €	+888%	87,2 k €	+1237%	6,5 k €	-40.7%	11 k €	+69.8%	6,5 k €	-35.9%	10,1 k €	-42.7%	17,6 k €	+182%	6,3 k €	+124%	2,8 k €	+87.3%	1,5 k €	-95.0%	29,8 k €	+225%	9,2 k €		–		12,3 k €	+146%	5 k €	-77.2%	21,9 k €	+10.8%	19,8 k €	+117%	9,1 k €	-68.0%	28,4 k €		–
Debts	532,1 k €	-38.3%	861,8 k €	+31.0%	657,8 k €	+49.1%	441,2 k €	+5.5%	418,3 k €	-17.3%	505,8 k €	-22.8%	655,5 k €	-24.4%	867,2 k €	+11.7%	776,2 k €	-2.1%	792,9 k €	+0.9%	786,2 k €	+38.4%	568,2 k €	+2.8%	552,6 k €	+8.2%	511 k €	-13.9%	593,4 k €	+7.0%	554,5 k €	+1.9%	544,2 k €	-8.4%	594,1 k €	+10.3%	538,8 k €	-26.2%	730,2 k €
Other
Workforce	–		–		–		0,2 ETP	-81.8%	1,1 ETP	-15.4%	1,3 ETP	+30.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP		–		1,0 ETP	+233%	0,3 ETP		–		–		–		–		–		–		–		3,3 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 · 4 active · 16 ended

Active mandates

ALFONS VAN ZELE

Director · since 06 octobre 2023 · until 30 juin 2029

Active

GRIET VAN ZELE

Director · since 06 octobre 2023 · until 30 juin 2029

Active

NICOLE STANDAERT

Managing director · since 06 octobre 2023 · until 30 juin 2029

Active

PIETER VAN ZELE

Director · since 06 octobre 2023 · until 30 juin 2029

Active

Ended mandates

ALFONS VAN ZELE

Director · since 30 juin 2023 · until 30 juin 2029

Ended

GRIET VAN ZELE

Director · since 30 juin 2023 · until 30 juin 2029

Ended

NICOLE STANDAERT

Managing director · since 30 juin 2023 · until 30 juin 2029

Ended

PIETER VAN ZELE

Director · since 30 juin 2023 · until 30 juin 2029

Ended

At this address

Other companies at this address

Company	CBE no.
ZELCO LOGISTICS● Active	0879.382.796

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	29/07/2026	29/07/2025	27/09/2024	11/10/2023	26/07/2022	31/08/2021
General meeting	30/06/2026	30/06/2025	21/09/2024	06/10/2023	30/06/2022	30/06/2021
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	30/06/2026	29/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	29/07/2025	Dutch	PDF
Abridged model	31/12/2023	21/09/2024	27/09/2024	Dutch	PDF
Abridged model	31/12/2022	06/10/2023	11/10/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	26/07/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	31/08/2021	Dutch	PDF
Abridged model	31/12/2019	30/06/2020	28/07/2020	Dutch	PDF
Abridged model	31/12/2018	30/06/2019	26/07/2019	Dutch	PDF
Abridged model	31/12/2017	30/06/2018	31/08/2018	Dutch	PDF
Micro model	31/12/2016	30/06/2017	25/08/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	29/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	18/08/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	27/08/2014	Dutch	PDF
Abridged model	31/12/2012	29/06/2013	16/07/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	22/08/2012	Dutch	PDF
Abridged model	31/12/2010	30/06/2011	19/07/2011	Dutch	PDF
Abridged model	31/12/2009	30/06/2010	23/07/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	17/07/2009	Dutch	PDF
Abridged model	31/12/2007	30/06/2008	14/07/2008	Dutch	PDF
Abridged model	31/12/2006	30/06/2007	13/08/2007	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 · 4 active · 16 ended

Active mandates

ALFONS VAN ZELE

Director · since 06 octobre 2023 · until 30 juin 2029

Active

GRIET VAN ZELE

Director · since 06 octobre 2023 · until 30 juin 2029

Active

NICOLE STANDAERT

Managing director · since 06 octobre 2023 · until 30 juin 2029

Active

PIETER VAN ZELE

Director · since 06 octobre 2023 · until 30 juin 2029

Active

Ended mandates

ALFONS VAN ZELE

Director · since 30 juin 2023 · until 30 juin 2029

Ended

GRIET VAN ZELE

Director · since 30 juin 2023 · until 30 juin 2029

Ended

NICOLE STANDAERT

Managing director · since 30 juin 2023 · until 30 juin 2029

Ended

PIETER VAN ZELE

Director · since 30 juin 2023 · until 30 juin 2029

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/04/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates26/01/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/01/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/02/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/12/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/02/2012
ALGEMENE VERGADERING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/11/2007
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 20251,4 M €↑
2024
Annual accounts 2024172,4 k €↑
2023
Annual accounts 202315,1 k €↑
2022
Annual accounts 202214,8 k €↓
2021
Annual accounts 202143,7 k €↓
2020
Annual accounts 2020240,4 k €↑
2019
Annual accounts 20196,9 k €↑
2018
Annual accounts 20183,1 €↓
2017
Annual accounts 2017611,9 €↓
2016
Annual accounts 20163,9 k €↓
2015
Annual accounts 201510,2 k €↑
2014
Annual accounts 20148,5 k €↓
2013
Annual accounts 201314,6 k €↑
2012
Annual accounts 201210,6 k €↑
2011
Annual accounts 20113,2 k €↑
2010
Annual accounts 20101,7 k €↓
2009
Annual accounts 200927 k €↑
2008
Annual accounts 200817,5 k €↑
2007
Annual accounts 20077,4 k €↑
2006
Annual accounts 20061,9 k €
01/09/1989
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

ZELCO

Overview

What does ZELCO 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