ACTIVE

HARCAD

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Financial year 2025 · closed on 31/12/2025

Net result

11,2 k €

-56.0% YoY

Gross margin

45,5 k €

-56.4% YoY

Equity

427,6 k €

+2.2% YoY

What does HARCAD do?

HARCAD is a Private limited company incorporated in 1990. Its main activity is: Wholesale of information and communication equipment. Its registered office is in Mons.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0441.613.680

Incorporation

10/09/1990

Legal form

Private limited company

Registered office

Boulevard Initialis 15
7000 Mons · WallonieSee on map

Contributed capital

24 569,40 €

Latest accounts

31/12/2025

Activities (NACE)

46500Wholesale of information and communication equipment· main 46660Wholesale of other office machinery and equipment 51850Air transport

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	45,5 k €	-56.4%	104,4 k €	-18.1%	127,5 k €	-56.8%	295,3 k €	+58.2%	186,6 k €	+3.7%	179,9 k €	+22.2%	147,2 k €	+7.5%	136,9 k €	-1.1%	138,3 k €	+15.0%	120,2 k €	+3.4%	116,2 k €	-6.1%	123,8 k €	-17.2%	149,5 k €	-19.6%	186 k €	-34.7%	284,9 k €	+51.3%	188,3 k €	+7.5%	175,1 k €	+93.4%	90,6 k €	+19.2%	76 k €	+32.2%	57,5 k €
EBITDA	33,9 k €	-31.2%	49,3 k €	+22.2%	40,3 k €	-81.0%	212,1 k €	+98.0%	107,1 k €	+6.5%	100,6 k €	+47.7%	68,1 k €	+23.7%	55,1 k €	-10.5%	61,5 k €	+39.7%	44 k €	-13.6%	51 k €	-9.5%	56,3 k €	-33.7%	84,9 k €	-31.1%	123,3 k €	-44.5%	222 k €	+67.2%	132,7 k €	+11.8%	118,8 k €	+226%	36,4 k €	+11.4%	32,7 k €	+217%	10,3 k €
Operating result	15,9 k €	-49.0%	31,2 k €	+106%	15,1 k €	-91.4%	176,8 k €	+171%	65,3 k €	+8.4%	60,2 k €	+111%	28,6 k €	+99.5%	14,3 k €	-54.1%	31,2 k €	+185%	11 k €	-44.2%	19,6 k €	+23.2%	15,9 k €	-51.9%	33,1 k €	-52.6%	69,8 k €	-58.5%	168,1 k €	+97.8%	85 k €	+0.1%	85 k €	+242%	24,8 k €	-2.2%	25,4 k €	+1466%	1,6 k €
Net result	11,2 k €	-56.0%	25,4 k €	+114%	11,9 k €	-91.1%	133,7 k €	+177%	48,2 k €	+3.0%	46,8 k €	+137%	19,7 k €	+140%	8,2 k €	-63.4%	22,5 k €	+521%	3,6 k €	-69.9%	12 k €	+76.7%	6,8 k €	-58.4%	16,4 k €	-62.5%	43,7 k €	-59.5%	107,8 k €	+110%	51,4 k €	+9.2%	47,1 k €	+515%	7,7 k €	-10.3%	8,5 k €	+726%	1 k €
Balance sheet
Equity	427,6 k €	+2.2%	418,6 k €	-36.6%	660,5 k €	+1.3%	652,2 k €	+2.3%	637,7 k €	+7.5%	593 k €	+7.9%	549,7 k €	+3.0%	533,5 k €	+0.9%	528,8 k €	+3.7%	509,8 k €	+0.0%	509,7 k €	+1.7%	501,2 k €	+0.7%	497,9 k €	+2.7%	485 k €	+9.0%	444,9 k €	+50.0%	296,6 k €	+20.1%	246,9 k €	+56.7%	157,6 k €	+31.4%	119,9 k €	+7.7%	111,4 k €
Total assets	455,2 k €	+3.6%	439,2 k €	-52.1%	916,7 k €	-4.5%	959,5 k €	+5.2%	912,1 k €	+4.4%	873,8 k €	+8.4%	806,3 k €	+0.8%	800,2 k €	+3.6%	772,1 k €	+0.1%	771,1 k €	-5.4%	815 k €	-25.4%	1,1 M €	-4.1%	1,1 M €	-7.2%	1,2 M €	-6.0%	1,3 M €	+9.9%	1,2 M €	+16.5%	1 M €	+52.3%	669,6 k €	+52.3%	439,6 k €	+8.9%	403,8 k €
Cash	68,5 k €	+184%	24,1 k €	+117%	11,1 k €	-77.9%	50,2 k €	+170%	18,6 k €	+70.3%	10,9 k €	+38.6%	7,9 k €	-50.9%	16,1 k €	+255%	4,5 k €	-55.8%	10,2 k €	+54.5%	6,6 k €	-84.7%	43,2 k €	-12.8%	49,5 k €	+33.3%	37,2 k €	-55.1%	82,8 k €	+109%	39,6 k €	+93.4%	20,5 k €	+194%	7 k €	-36.7%	11 k €	+426%	2,1 k €
Debts	22 k €	+6.2%	20,7 k €	-91.9%	256,2 k €	-16.6%	307,3 k €	+12.0%	274,4 k €	-2.3%	280,8 k €	+9.4%	256,6 k €	-3.8%	266,7 k €	+9.6%	243,3 k €	-6.9%	261,3 k €	-14.4%	305,3 k €	-48.4%	591,3 k €	-7.8%	641,5 k €	-13.6%	742,4 k €	-13.8%	861,1 k €	-3.5%	892,2 k €	+15.4%	773,1 k €	+51.0%	512 k €	+60.7%	318,7 k €	+9.0%	292,4 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 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 · 2 active · 4 ended

Active mandates

Etienne GODIMUS

Director · since 16 juin 2008

Active

Frank ALLAND

Director · since 16 juin 2008

Active

Ended mandates

Etienne GODIMUS

Manager · since 16 juin 2008

Ended

Frank ALLAND

Manager · since 16 juin 2008

Ended

Etienne GODIMUS

Manager

Ended

Frank ALLAND

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
A&G Atelier d'Architecture● Active	0899.139.718
A & G - Igretec● Active	0752.755.731
Association des Copropriétaires de l'ensemble immobilier Initium à Mons, Boulevard Initialis 15● Active	0694.662.035
SYNERGIE, GROUPEMENT DE PME● Active	0445.584.445

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	23/07/2026	31/08/2025	28/08/2024	31/10/2023	11/01/2023	14/12/2021
General meeting	30/06/2026	26/08/2025	01/06/2024	26/06/2023	30/09/2022	30/09/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	30/06/2026	23/07/2026	French	PDF
Micro model	31/12/2024	26/08/2025	31/08/2025	French	PDF
Micro model	31/12/2023	01/06/2024	28/08/2024	French	PDF
Micro modelCorrection	31/12/2022	26/06/2023	31/10/2023	French	PDF
Micro model	31/12/2022	26/06/2023	25/07/2023	French	PDF
Micro model	31/12/2021	30/09/2022	11/01/2023	French	PDF
Micro model	31/12/2020	30/09/2021	14/12/2021	French	PDF
Micro model	31/12/2019	30/09/2020	16/11/2020	French	PDF
Micro model	31/12/2018	01/06/2019	31/08/2019	French	PDF
Micro model	31/12/2017	02/06/2018	29/09/2018	French	PDF
Micro model	31/12/2016	03/06/2017	31/07/2017	French	PDF
Abridged model	31/12/2015	04/06/2016	26/01/2017	French	PDF
Abridged model	31/12/2014	06/06/2015	30/09/2015	French	PDF
Abridged model	31/12/2013	07/06/2014	30/09/2014	French	PDF
Abridged model	31/12/2012	01/06/2013	03/03/2014	French	PDF
Abridged model	31/12/2011	02/06/2012	31/12/2012	French	PDF
Abridged model	31/12/2010	04/06/2011	31/08/2011	French	PDF
Abridged model	31/12/2009	30/06/2010	01/09/2010	French	PDF
Abridged model	31/12/2008	09/06/2009	24/08/2009	French	PDF
Abridged model	31/12/2007	10/06/2008	09/07/2008	French	PDF
Abridged model	31/12/2006	02/06/2007	31/07/2007	French	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 · 2 active · 4 ended

Active mandates

Etienne GODIMUS

Director · since 16 juin 2008

Active

Frank ALLAND

Director · since 16 juin 2008

Active

Ended mandates

Etienne GODIMUS

Manager · since 16 juin 2008

Ended

Frank ALLAND

Manager · since 16 juin 2008

Ended

Etienne GODIMUS

Manager

Ended

Frank ALLAND

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring01/08/2024
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring29/05/2024
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates22/01/2024
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Registered office27/07/2009
SIEGE SOCIAL
PDF
Capital / shares15/07/2008
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 202511,2 k €↓
2024
Annual accounts 202425,4 k €↑
2023
Annual accounts 202311,9 k €↓
2022
Annual accounts 2022133,7 k €↑
2021
Annual accounts 202148,2 k €↑
2020
Annual accounts 202046,8 k €↑
2019
Annual accounts 201919,7 k €↑
2018
Annual accounts 20188,2 k €↓
2017
Annual accounts 201722,5 k €↑
2016
Annual accounts 20163,6 k €↓
2015
Annual accounts 201512 k €↑
2014
Annual accounts 20146,8 k €↓
2013
Annual accounts 201316,4 k €↓
2012
Annual accounts 201243,7 k €↓
2011
Annual accounts 2011107,8 k €↑
2010
Annual accounts 201051,4 k €↑
2009
Annual accounts 200947,1 k €↑
2008
Annual accounts 20087,7 k €↓
2007
Annual accounts 20078,5 k €↑
2006
Annual accounts 20061 k €
10/09/1990
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

HARCAD

Overview

What does HARCAD 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