ACTIVE

ADDAX

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Financial year 2025 · closed on 31/12/2025

Net result

9,7 k €

-71.8% YoY

Gross margin

78,2 k €

-25.2% YoY

Equity

409,5 k €

+2.4% YoY

Workforce

0,0 ETP

What does ADDAX do?

ADDAX is a Private limited company incorporated in 1990. Its main activity is: Wholesale of clothing and footwear. Its registered office is in Wevelgem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0440.561.627

Incorporation

01/05/1990

Legal form

Private limited company

Registered office

Bissegemstraat 239
8560 Wevelgem · FlandreSee on map

Contributed capital

20 000,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

46421Wholesale of clothing and footwear· main 46421Wholesale of clothing and footwear 46425Wholesale of clothing and footwear 47120Retail sale in non-specialised stores

Joint committees (5)

100
215
218
30502
330

Contacts

3 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	78,2 k €	-25.2%	104,6 k €	-21.0%	132,4 k €	+50.9%	87,7 k €	-2.6%	90,1 k €	+102%	44,5 k €	-10.0%	49,4 k €	-21.6%	63,1 k €	+5.3%	59,9 k €	+37.6%	43,5 k €	+31.0%	33,2 k €	-28.1%	46,2 k €	-57.0%	107,5 k €	-43.6%	190,6 k €	-15.3%	225,1 k €	-11.5%	254,3 k €	+3.9%	244,8 k €	-5.9%	260,2 k €	+18.6%	219,3 k €
EBITDA	72,6 k €	-26.9%	99,4 k €	-22.1%	127,5 k €	+52.6%	83,5 k €	-2.8%	85,9 k €	+112%	40,5 k €	-9.8%	44,9 k €	-21.8%	57,4 k €	+9.4%	52,5 k €	+36.1%	38,6 k €	+34.0%	28,8 k €	-30.9%	41,6 k €	-25.0%	55,5 k €	-22.6%	71,7 k €	+11.8%	64,1 k €	-32.5%	94,9 k €	+19.9%	79,1 k €	-18.0%	96,5 k €	+42.7%	67,6 k €
Operating result	30,3 k €	-52.3%	63,6 k €	-35.3%	98,2 k €	+74.3%	56,4 k €	-8.6%	61,7 k €	+265%	16,9 k €	+18.9%	14,2 k €	-44.9%	25,8 k €	+147%	10,4 k €	+99.7%	5,2 k €	+217%	-4,5 k €	-135%	12,7 k €	-52.6%	26,9 k €	-26.1%	36,4 k €	+63.0%	22,3 k €	-57.5%	52,6 k €	+55.5%	33,8 k €	-31.6%	49,4 k €	+60.0%	30,9 k €
Net result	9,7 k €	-71.8%	34,5 k €	-46.7%	64,7 k €	+84.8%	35 k €	-4.8%	36,8 k €	+412%	7,2 k €	+49.7%	4,8 k €	-54.3%	10,5 k €	+3869%	-278,3 €	+95.5%	-6,2 k €	+39.1%	-10,3 k €	-569%	2,2 k €	-69.2%	7,1 k €	-58.1%	17 k €	-2.3%	17,4 k €	-28.1%	24,1 k €	+157%	9,4 k €	-74.7%	37,1 k €	+420%	7,1 k €
Balance sheet
Equity	409,5 k €	+2.4%	399,8 k €	+5.1%	380,3 k €	+20.5%	315,5 k €	+12.5%	280,5 k €	+28.9%	217,6 k €	+2.6%	212,1 k €	+1.5%	208,8 k €	+5.3%	198,4 k €	-0.1%	198,6 k €	-3.0%	204,9 k €	-4.8%	215,1 k €	-0.1%	215,4 k €	+2.2%	210,6 k €	+4.8%	201,1 k €	+8.0%	186,1 k €	+11.5%	167 k €	+5.9%	157,6 k €	+25.6%	125,5 k €
Total assets	768,2 k €	-7.0%	826 k €	+7.7%	766,8 k €	+37.7%	556,7 k €	+15.2%	483,5 k €	+26.2%	383,1 k €	-13.0%	440,3 k €	+14.8%	383,3 k €	-0.6%	385,7 k €	-5.0%	405,9 k €	-6.6%	434,4 k €	-2.6%	446 k €	+3.2%	432,3 k €	-9.0%	475,1 k €	-6.0%	505,3 k €	+2.9%	491,3 k €	-5.8%	521,5 k €	-3.7%	541,5 k €	+13.9%	475,5 k €
Cash	5,2 k €	-16.3%	6,2 k €	-75.1%	25,1 k €	+21.4%	20,6 k €	-4.1%	21,5 k €	+2462%	839,9 €	-96.0%	21,2 k €	+822%	2,3 k €	+144%	942,9 €	-33.4%	1,4 k €	-47.3%	2,7 k €	+89.0%	1,4 k €	-16.9%	1,7 k €	+99.7%	856,8 €	-67.9%	2,7 k €	+49.3%	1,8 k €	+32.3%	1,4 k €	-22.3%	1,7 k €	+62.0%	1,1 k €
Debts	358,1 k €	-15.6%	424,3 k €	+9.8%	386,6 k €	+60.4%	241,1 k €	+19.2%	202,2 k €	+22.9%	164,5 k €	-27.4%	226,7 k €	+31.3%	172,7 k €	-7.3%	186,2 k €	-9.2%	205,2 k €	-9.9%	227,7 k €	-0.3%	228,5 k €	+6.5%	214,4 k €	-18.0%	261,5 k €	-12.8%	300 k €	-1.1%	303,3 k €	-13.8%	351,6 k €	-7.1%	378,5 k €	+8.5%	348,9 k €
Other
Workforce	0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		0,8 ETP	-71.4%	2,8 ETP	-20.0%	3,5 ETP	+6.1%	3,3 ETP	-13.2%	3,8 ETP	-11.6%	4,3 ETP	+10.3%	3,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 14 ended

Active mandates

Delphine Windels

Director · since 10 juillet 2023

Active

Mathias Windels

Director · since 10 juillet 2023

Active

Myriam Demeulenaere

Director · since 10 juillet 2023

Active

Wim Windels

Director · since 10 juillet 2023

Active

Ended mandates

Mathias Windels

Director · since 01 septembre 2019

Ended

Mathias Windels

Administrator - manager · since 01 septembre 2019

Ended

MATTHIAS WINDELS

Administrator - manager · since 01 juillet 2019

Ended

Myriam Demeulenaere

Director · since 29 mars 2006

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged 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	02/07/2026	04/07/2025	16/06/2024	24/07/2023	30/05/2022	27/08/2021
General meeting	05/06/2026	17/06/2025	21/05/2024	30/06/2023	21/05/2022	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	05/06/2026	02/07/2026	Dutch	PDF
Abridged model	31/12/2024	17/06/2025	04/07/2025	Dutch	PDF
Micro model	31/12/2023	21/05/2024	16/06/2024	Dutch	PDF
Micro model	31/12/2022	30/06/2023	24/07/2023	Dutch	PDF
Micro model	31/12/2021	21/05/2022	30/05/2022	Dutch	PDF
Micro model	31/12/2020	30/06/2021	27/08/2021	Dutch	PDF
Micro model	31/12/2019	15/06/2020	25/06/2020	Dutch	PDF
Micro model	31/12/2018	18/05/2019	25/07/2019	Dutch	PDF
Micro model	31/12/2017	19/05/2018	07/08/2018	Dutch	PDF
Micro model	31/12/2016	20/05/2017	14/08/2017	Dutch	PDF
Abridged model	31/12/2015	21/05/2016	24/05/2016	Dutch	PDF
Abridged model	31/12/2014	16/05/2015	19/08/2015	Dutch	PDF
Abridged model	31/12/2013	17/05/2014	19/06/2014	Dutch	PDF
Abridged model	31/12/2012	18/05/2013	24/05/2013	Dutch	PDF
Abridged model	31/12/2011	19/05/2012	06/06/2012	Dutch	PDF
Abridged model	31/12/2010	21/05/2011	30/06/2011	Dutch	PDF
Abridged model	31/12/2009	15/05/2010	26/05/2010	Dutch	PDF
Abridged model	31/12/2008	16/05/2009	16/06/2009	Dutch	PDF
Abridged model	31/12/2007	17/05/2008	19/05/2008	Dutch	PDF
Abridged model	31/12/2006	19/05/2007	22/05/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 · 4 active · 14 ended

Active mandates

Delphine Windels

Director · since 10 juillet 2023

Active

Mathias Windels

Director · since 10 juillet 2023

Active

Myriam Demeulenaere

Director · since 10 juillet 2023

Active

Wim Windels

Director · since 10 juillet 2023

Active

Ended mandates

Mathias Windels

Director · since 01 septembre 2019

Ended

Mathias Windels

Administrator - manager · since 01 septembre 2019

Ended

MATTHIAS WINDELS

Administrator - manager · since 01 juillet 2019

Ended

Myriam Demeulenaere

Director · since 29 mars 2006

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/07/2023
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/09/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/04/2006
WIJZIGING RECHTSVORM - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 20259,7 k €↓
2024
Annual accounts 202434,5 k €↓
2023
Annual accounts 202364,7 k €↑
2022
Annual accounts 202235 k €↓
2021
Annual accounts 202136,8 k €↑
2019
Annual accounts 20197,2 k €↑
2018
Annual accounts 20184,8 k €↓
2017
Annual accounts 201710,5 k €↑
2016
Annual accounts 2016-278,3 €↑
2015
Annual accounts 2015-6,2 k €↑
2014
Annual accounts 2014-10,3 k €↓
2013
Annual accounts 20132,2 k €↓
2012
Annual accounts 20127,1 k €↓
2011
Annual accounts 201117 k €↓
2010
Annual accounts 201017,4 k €↓
2009
Annual accounts 200924,1 k €↑
2008
Annual accounts 20089,4 k €↓
2007
Annual accounts 200737,1 k €↑
2006
Annual accounts 20067,1 k €
01/05/1990
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

ADDAX

Overview

What does ADDAX do?

Trend over 19 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