ACTIVE

XERXES

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Financial year 2025 · closed on 31/08/2025

Net result

139,3 k €

-16.3% YoY

Gross margin

488,9 k €

+15.5% YoY

Equity

5,1 M €

+2.8% YoY

Workforce

0,0 ETP

What does XERXES do?

XERXES is a Public limited company incorporated in 1990. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Gent.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0441.911.214

Incorporation

03/09/1990

Legal form

Public limited company

Registered office

Industriepark-Drongen 13
9031 Gent · FlandreSee on map

Contributed capital

828 000,02 €

Latest accounts

31/08/2025

Average workforce

0,0 ETP

Activities (NACE)

68203Rental and operating of own or leased real estate· main 68203Rental and operating of own or leased real estate 70203Management consultancy activities

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	488,9 k €	+15.5%	423,1 k €	+13.3%	373,5 k €	-56.3%	855,7 k €	+136%	363,3 k €	+15.1%	315,7 k €	-15.4%	373,4 k €	+4.4%	357,5 k €	+1.0%	353,9 k €	+7.4%	329,4 k €	+11.4%	295,8 k €	+64.8%	179,5 k €	-55.5%	403,1 k €	+139%	168,9 k €	+1.0%	167,3 k €	-90.1%	1,7 M €	+2456%	66,3 k €	+9.8%	60,4 k €	+1898%	3 k €
EBITDA	456,3 k €	+16.0%	393,2 k €	+13.9%	345,1 k €	-58.5%	831,6 k €	+167%	311,9 k €	-0.9%	314,6 k €	-10.3%	350,6 k €	+4.7%	335 k €	+5.4%	317,8 k €	-1.1%	321,5 k €	+13.8%	282,5 k €	+72.7%	163,5 k €	-58.3%	391,9 k €	+148%	157,9 k €	+5.7%	149,4 k €	-91.2%	1,7 M €	+2726%	59,8 k €	+10.3%	54,2 k €	+1802%	-3,2 k €
Operating result	231,7 k €	-4.1%	241,7 k €	-1.3%	244,9 k €	-66.5%	731,5 k €	+274%	195,5 k €	-1.4%	198,2 k €	-15.4%	234,2 k €	+7.2%	218,6 k €	+9.0%	200,6 k €	-2.0%	204,6 k €	+112%	96,4 k €	+362%	20,9 k €	-93.8%	336,1 k €	+431%	63,3 k €	-42.0%	109,2 k €	-93.4%	1,6 M €	+1826%	-95,5 k €	-360%	36,8 k €	+282%	-20,2 k €
Net result	139,3 k €	-16.3%	166,3 k €	+0.8%	165 k €	-68.8%	528,1 k €	+316%	127 k €	+1.9%	124,6 k €	-16.9%	150 k €	+17.2%	127,9 k €	-30.2%	183,4 k €	+17.4%	156,2 k €	+36.7%	114,3 k €	+59.0%	71,9 k €	-74.8%	284,7 k €	+227%	87,2 k €	-30.6%	125,7 k €	-88.9%	1,1 M €	+3312%	-35,4 k €	-125%	141 k €	+433%	26,5 k €
Balance sheet
Equity	5,1 M €	+2.8%	4,9 M €	+3.5%	4,8 M €	+3.6%	4,6 M €	+13.0%	4,1 M €	+3.7%	3,9 M €	+3.3%	3,8 M €	+4.1%	3,7 M €	-6.9%	3,9 M €	+4.9%	3,7 M €	+4.4%	3,6 M €	+3.3%	3,5 M €	+2.1%	3,4 M €	+9.1%	3,1 M €	+2.9%	3 M €	+4.3%	2,9 M €	+64.6%	1,8 M €	-2.0%	1,8 M €	+8.5%	1,7 M €
Total assets	6 M €	+9.6%	5,5 M €	+3.7%	5,3 M €	+3.3%	5,1 M €	+14.2%	4,5 M €	+2.8%	4,4 M €	+1.4%	4,3 M €	+3.5%	4,2 M €	-6.0%	4,4 M €	+3.2%	4,3 M €	-2.5%	4,4 M €	+11.2%	4 M €	-10.9%	4,4 M €	+9.4%	4,1 M €	+2.8%	3,9 M €	+2.7%	3,8 M €	+38.5%	2,8 M €	+41.3%	2 M €	+8.0%	1,8 M €
Cash	39,3 k €	-77.6%	175,6 k €	+12.7%	155,7 k €	-83.0%	913,5 k €	+4.9%	870,5 k €	+99.2%	437 k €	+206%	142,8 k €	-19.8%	178,1 k €	-48.2%	343,7 k €	+540%	53,7 k €	+11.6%	48,1 k €	-94.1%	817,5 k €	-18.9%	1 M €	-47.0%	1,9 M €	+4.1%	1,8 M €	-6.2%	1,9 M €	+31618%	6,1 k €	-78.9%	29,1 k €	-84.1%	183,5 k €
Debts	783,4 k €	+101%	390,3 k €	+8.9%	358,3 k €	+2.9%	348,4 k €	+2.7%	339,3 k €	+2.5%	331 k €	-12.8%	379,5 k €	+2.5%	370,3 k €	+4.2%	355,4 k €	-10.5%	397,2 k €	-37.8%	638,2 k €	+99.7%	319,6 k €	-62.1%	842,6 k €	+155%	330 k €	+13.8%	289,9 k €	+5.3%	275,4 k €	-68.3%	868,2 k €	+6361%	13,4 k €	+17.3%	11,5 k €
Other
Workforce	0,0 ETP		0,0 ETP		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/08/2025 · 3 active · 15 ended

Active mandates

Michel Cobbaert

Director · since 29 janvier 2022

Active

Ann Deslee

Director · since 30 janvier 2021

Active

Jean-Paul Cobbaert

Managing director · since 30 janvier 2021

Active

Ended mandates

Michel Cobbaert

Director · since 29 janvier 2022 · until 28 janvier 2028

Ended

Ann Deslee

Director · since 30 janvier 2021 · until 29 janvier 2027

Ended

JEAN PAUL COBBAERT

Managing director · since 30 janvier 2021 · until 29 janvier 2027

Ended

Jean-Paul Cobbaert

Managing director · since 30 janvier 2021 · until 29 janvier 2027

Ended

At this address

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Cobby's● Active	0411.652.360
Delphine Cobbaert● Active	0800.152.505
Make Your Own Spirit● Active	0663.871.463

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	01/09/2024	01/09/2023	01/09/2022	01/09/2021	01/09/2020	01/09/2019
Closing of the financial year	31/08/2025	31/08/2024	31/08/2023	31/08/2022	31/08/2021	31/08/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	18/03/2026	28/03/2025	13/03/2024	10/03/2023	15/03/2022	26/02/2021
General meeting	28/02/2026	24/03/2025	29/02/2024	28/02/2023	17/02/2022	28/01/2021
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	31/08/2025	28/02/2026	18/03/2026	Dutch	PDF
Abridged model	31/08/2024	24/03/2025	28/03/2025	Dutch	PDF
Abridged model	31/08/2023	29/02/2024	13/03/2024	Dutch	PDF
Abridged model	31/08/2022	28/02/2023	10/03/2023	Dutch	PDF
Abridged model	31/08/2021	17/02/2022	15/03/2022	Dutch	PDF
Abridged model	31/08/2020	28/01/2021	26/02/2021	Dutch	PDF
Abridged model	31/08/2019	30/01/2020	19/02/2020	Dutch	PDF
Abridged model	31/08/2018	31/01/2019	21/02/2019	Dutch	PDF
Abridged model	31/08/2017	25/01/2018	22/02/2018	Dutch	PDF
Abridged model	31/08/2016	16/02/2017	26/02/2017	Dutch	PDF
Abridged model	31/08/2015	28/01/2016	25/02/2016	Dutch	PDF
Abridged model	31/08/2014	29/01/2015	22/02/2015	Dutch	PDF
Abridged model	31/08/2013	30/01/2014	13/02/2014	Dutch	PDF
Abridged model	31/08/2012	31/01/2013	08/02/2013	Dutch	PDF
Abridged model	31/08/2011	26/01/2012	27/01/2012	Dutch	PDF
Abridged model	31/08/2010	27/01/2011	18/03/2011	Dutch	PDF
Abridged model	31/08/2009	28/01/2010	24/02/2010	Dutch	PDF
Abridged model	31/08/2008	29/01/2009	29/01/2009	Dutch	PDF
Abridged model	31/08/2007	31/01/2008	01/02/2008	Dutch	PDF
Abridged model	31/08/2006	25/01/2007	26/01/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 31/08/2025 · 3 active · 15 ended

Active mandates

Michel Cobbaert

Director · since 29 janvier 2022

Active

Ann Deslee

Director · since 30 janvier 2021

Active

Jean-Paul Cobbaert

Managing director · since 30 janvier 2021

Active

Ended mandates

Michel Cobbaert

Director · since 29 janvier 2022 · until 28 janvier 2028

Ended

Ann Deslee

Director · since 30 janvier 2021 · until 29 janvier 2027

Ended

JEAN PAUL COBBAERT

Managing director · since 30 janvier 2021 · until 29 janvier 2027

Ended

Jean-Paul Cobbaert

Managing director · since 30 janvier 2021 · until 29 janvier 2027

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/01/2024
ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates09/03/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/03/2021
ONTSLAGEN - BENOEMINGEN
PDF
Registered office18/01/2018
MAATSCHAPPELIJKE ZETEL - KAPITAAL - AANDELEN
PDF
Mandates08/04/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/03/2015
ONTSLAGEN - BENOEMINGEN
PDF
Registered office28/10/2011
MAATSCHAPPELIJKE ZETEL
PDF
Mandates03/09/2009
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 2025139,3 k €↓
2024
Annual accounts 2024166,3 k €↑
2023
Annual accounts 2023165 k €↓
2022
Annual accounts 2022528,1 k €↑
2021
Annual accounts 2021127 k €↑
2020
Annual accounts 2020124,6 k €↓
2019
Annual accounts 2019150 k €↑
2018
Annual accounts 2018127,9 k €↓
2017
Annual accounts 2017183,4 k €↑
2016
Annual accounts 2016156,2 k €↑
2015
Annual accounts 2015114,3 k €↑
2014
Annual accounts 201471,9 k €↓
2013
Annual accounts 2013284,7 k €↑
2012
Annual accounts 201287,2 k €↓
2011
Annual accounts 2011125,7 k €↓
2010
Annual accounts 20101,1 M €↑
2009
Annual accounts 2009-35,4 k €↓
2008
Annual accounts 2008141 k €↑
2007
Annual accounts 200726,5 k €
03/09/1990
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

XERXES

Overview

What does XERXES do?

Trend over 19 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