ACTIVE

CEDAX

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

81,9 €

-100.0% YoY

Gross margin

20,4 k €

-92.9% YoY

Equity

951,6 k €

+0.0% YoY

Workforce

0,0 ETP

What does CEDAX do?

CEDAX is a Public limited company incorporated in 1990. Its main activity is: Activities of holding companies. Its registered office is in Zedelgem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0442.567.349

Incorporation

23/11/1990

Legal form

Public limited company

Registered office

Schatting 56
8210 Zedelgem · FlandreSee on map

Contributed capital

75 000,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	20,4 k €	-92.9%	288,9 k €	+648%	38,6 k €	-38.2%	62,4 k €	-4.9%	65,7 k €	+7.5%	61,1 k €	-0.0%	61,1 k €	+436%	-18,2 k €	-132%	57,5 k €	-13.9%	66,8 k €	+0.4%	66,5 k €	+0.2%	66,4 k €	-0.7%	66,8 k €	+43.9%	46,4 k €	+2.7%	45,2 k €	-86.8%	342,6 k €	+50.0%	228,4 k €	-19.5%	283,7 k €
EBITDA	12,9 k €	-95.4%	282,3 k €	+777%	32,2 k €	-43.2%	56,7 k €	-5.4%	59,9 k €	+8.2%	55,4 k €	-0.6%	55,7 k €	+336%	-23,6 k €	-145%	52,2 k €	-13.2%	60,1 k €	+26.6%	47,5 k €	+10.5%	43 k €	+215%	13,6 k €	+266%	-8,2 k €	-12.9%	-7,3 k €	-102%	292,3 k €	+63.9%	178,3 k €	-24.5%	236,2 k €
Operating result	10,1 k €	-96.4%	279,7 k €	+843%	29,7 k €	-45.3%	54,2 k €	-3.7%	56,3 k €	+8.8%	51,8 k €	-0.6%	52,1 k €	+308%	-25,1 k €	-149%	50,7 k €	-13.5%	58,6 k €	+27.5%	46 k €	+10.9%	41,5 k €	+242%	12,1 k €	+225%	-9,7 k €	-6.9%	-9,1 k €	-103%	290,5 k €	+64.6%	176,5 k €	-23.7%	231,3 k €
Net result	81,9 €	-100.0%	209,9 k €	+2233%	9 k €	-77.8%	40,6 k €	-25.4%	54,4 k €	+5.9%	51,4 k €	-0.8%	51,8 k €	+304%	-25,4 k €	-150%	50,3 k €	-13.6%	58,3 k €	+29.7%	45 k €	+10.6%	40,6 k €	+110%	-411,2 k €	-6286%	6,6 k €	+165%	-10,2 k €	-106%	167,7 k €	+81.7%	92,3 k €	-33.5%	138,8 k €
Balance sheet
Equity	951,6 k €	+0.0%	951,5 k €	+28.3%	741,6 k €	+1.2%	732,6 k €	+5.9%	692,1 k €	+8.5%	637,7 k €	+8.8%	586,3 k €	+9.7%	534,5 k €	-4.5%	559,9 k €	+9.9%	509,6 k €	+12.9%	451,3 k €	+11.1%	406,3 k €	+11.1%	365,7 k €	-52.9%	776,9 k €	+0.9%	770,3 k €	-1.3%	780,5 k €	+27.4%	612,8 k €	+17.7%	520,5 k €
Total assets	985 k €	+3.2%	954,7 k €	-7.0%	1 M €	-4.8%	1,1 M €	-0.5%	1,1 M €	-0.5%	1,1 M €	+1.6%	1,1 M €	+0.7%	1,1 M €	-12.4%	1,2 M €	+2.0%	1,2 M €	+2.5%	1,2 M €	+1.7%	1,1 M €	+1.5%	1,1 M €	-27.3%	1,5 M €	-0.4%	1,6 M €	-3.5%	1,6 M €	+14.0%	1,4 M €	+8.9%	1,3 M €
Cash	26,9 k €	+81.8%	14,8 k €	-78.7%	69,4 k €	-35.8%	108,1 k €	+6.6%	101,4 k €	+12.0%	90,5 k €	-6.2%	96,5 k €	+13.8%	84,8 k €	-66.6%	253,8 k €	+86.4%	136,2 k €	+167%	51 k €	+151%	20,3 k €	+720%	2,5 k €	+63.4%	1,5 k €	-91.8%	18,5 k €	-93.0%	265,1 k €	-16.1%	316,1 k €	+72.9%	182,8 k €
Debts	33,4 k €	+967%	3,1 k €	-98.8%	268 k €	-22.6%	346,1 k €	-11.7%	391,8 k €	-13.2%	451,2 k €	-7.0%	485 k €	-8.3%	529 k €	-19.1%	653,6 k €	-3.9%	679,8 k €	-4.1%	709,1 k €	-3.4%	734,3 k €	-3.2%	758,5 k €	-1.4%	769,6 k €	-1.6%	782,5 k €	-5.6%	828,7 k €	+3.8%	798,4 k €	+3.0%	775,5 k €
Other
Workforce	0,0 ETP		–		–		–		–		–		–		–		–		–		0,2 ETP	-50.0%	0,4 ETP	-42.9%	0,7 ETP	-12.5%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 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 · 69 ended

Active mandates

ALWEGRO

Director · 0726.387.765

Represented by Frédéric Callewaert

Active

Ended mandates

ALWEGRO

Director · since 18 décembre 2024 · 0726.387.765

Represented by Frédéric Callewaert

Ended

Brigitte Nachtergael

Director · since 01 janvier 2023 · until 18 décembre 2024

Ended

Brigitte Nachtergael

Director · since 01 janvier 2023 · until 04 mai 2026

Ended

Cedric Haezebrouck

Director · since 01 janvier 2023 · until 18 décembre 2024

Ended

At this address

Other companies at this address

Company	CBE no.
Detegro● Active	0787.151.436
Detegro - Maes● Active	1039.284.130
HAEZEBROUCK● Active	0405.115.847
The Recycling Company● Active	1029.326.386

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	28/08/2026	29/08/2025	05/03/2024	20/04/2023	19/05/2022	03/06/2021
General meeting	04/05/2026	05/05/2025	06/02/2024	13/03/2023	31/03/2022	11/05/2021
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

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	04/05/2026	28/08/2026	Dutch	PDF
Abridged model	31/12/2024	05/05/2025	29/08/2025	Dutch	PDF
Abridged model	31/12/2023	06/02/2024	05/03/2024	Dutch	PDF
Abridged model	31/12/2022	13/03/2023	20/04/2023	Dutch	PDF
Abridged model	31/12/2021	31/03/2022	19/05/2022	Dutch	PDF
Abridged model	31/12/2020	11/05/2021	03/06/2021	Dutch	PDF
Abridged model	31/12/2019	04/05/2020	20/05/2020	Dutch	PDF
Abridged model	31/12/2018	21/03/2019	15/05/2019	Dutch	PDF
Abridged model	31/12/2017	27/03/2018	23/04/2018	Dutch	PDF
Abridged model	31/12/2016	16/03/2017	11/05/2017	Dutch	PDF
Abridged model	31/12/2015	10/03/2016	03/05/2016	Dutch	PDF
Abridged model	31/12/2014	04/05/2015	09/07/2015	Dutch	PDF
Abridged model	31/12/2013	05/05/2014	16/07/2014	Dutch	PDF
Abridged model	31/12/2012	06/05/2013	02/07/2013	Dutch	PDF
Abridged model	31/12/2011	14/02/2012	09/03/2012	Dutch	PDF
Abridged model	31/12/2010	02/03/2011	29/03/2011	Dutch	PDF
Abridged model	31/12/2009	03/05/2010	27/05/2010	Dutch	PDF
Abridged model	31/12/2008	04/05/2009	12/06/2009	Dutch	PDF
Abridged model	31/12/2007	18/03/2008	28/04/2008	Dutch	PDF
Abridged model	31/12/2006	07/05/2007	07/06/2007	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 · 69 ended

Active mandates

ALWEGRO

Director · 0726.387.765

Represented by Frédéric Callewaert

Active

Ended mandates

ALWEGRO

Director · since 18 décembre 2024 · 0726.387.765

Represented by Frédéric Callewaert

Ended

Brigitte Nachtergael

Director · since 01 janvier 2023 · until 18 décembre 2024

Ended

Brigitte Nachtergael

Director · since 01 janvier 2023 · until 04 mai 2026

Ended

Cedric Haezebrouck

Director · since 01 janvier 2023 · until 18 décembre 2024

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates16/01/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other27/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN
PDF
Mandates05/06/2020
ONTSLAGEN - BENOEMINGEN
PDF
Registered office11/10/2016
MAATSCHAPPELIJKE ZETEL
PDF
Mandates16/07/2014
ONTSLAGEN - BENOEMINGEN
PDF
Other31/01/2012
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Mandates06/05/2008
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares06/01/2006
KAPITAAL - AANDELEN - 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 202581,9 €↓
2024
Annual accounts 2024209,9 k €↑
2023
Annual accounts 20239 k €↓
2022
Annual accounts 202240,6 k €↓
2021
Annual accounts 202154,4 k €↑
2020
Annual accounts 202051,4 k €↓
2019
Annual accounts 201951,8 k €↑
2018
Annual accounts 2018-25,4 k €↓
2017
Annual accounts 201750,3 k €↓
2016
Annual accounts 201658,3 k €↑
2015
Annual accounts 201545 k €↑
2014
Annual accounts 201440,6 k €↑
2013
Annual accounts 2013-411,2 k €↓
2012
Annual accounts 20126,6 k €↑
2011
Annual accounts 2011-10,2 k €↓
2010
Annual accounts 2010167,7 k €↑
2009
Annual accounts 200992,3 k €↓
2008
Annual accounts 2008138,8 k €
23/11/1990
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

CEDAX

Overview

What does CEDAX do?

Trend over 18 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