CARDINAL
0443.206.262 · rovalta.com · 21/09/2026
ACTIVE
CARDINAL
Financial year 2025 · closed on 31/12/2025
Net result
1,6 M €
+1.4% YoY
Gross margin
400,2 k €
+8.0% YoY
Equity
3,4 M €
+0.9% YoY
Workforce
0,0 ETP
Overview
What does CARDINAL do?
CARDINAL is a Public limited company incorporated in 1991. Its main activity is: Management consultancy activities. Its registered office is in Waregem.
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0443.206.262
Incorporation
28/02/1991
Legal form
Public limited company
Registered office
Flanders-Fieldweg 41
8790 Waregem · FlandreSee on map
8790 Waregem · FlandreSee on map
Contributed capital
964 832,29 €
Latest accounts
31/12/2025
Average workforce
0,0 ETP
Activities (NACE)
Joint committees (2)
- 100
- 218
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA
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Financials
Trend over 18 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||||
| Gross margin | 400,2 k € | +8.0% | 370,6 k € | -5.7% | 393 k € | +8.2% | 363,1 k € | -4.3% | 379,3 k € | -48.3% | 733,6 k € | -17.2% | 885,8 k € | +48.9% | 594,8 k € | +27.9% | 465,2 k € | +11.1% | 418,8 k € | -14.9% | 492,3 k € | +29.3% | 380,6 k € | +8.0% | 352,5 k € | -3.5% | 365,3 k € | -39.7% | 605,6 k € | -0.7% | 609,9 k € | +2.6% | 594,4 k € | +5.2% | 565 k € |
| EBITDA | 371,7 k € | +8.3% | 343,1 k € | -4.4% | 358,9 k € | +5.9% | 339 k € | -4.7% | 355,6 k € | -49.5% | 703,9 k € | +28.6% | 547,3 k € | +15.4% | 474,3 k € | +54.3% | 307,3 k € | +19.8% | 256,5 k € | -18.5% | 314,8 k € | +1.4% | 310,6 k € | -6.8% | 333,3 k € | -2.9% | 343,4 k € | -40.7% | 579,2 k € | -0.9% | 584,5 k € | +2.1% | 572,4 k € | +2.8% | 557 k € |
| Operating result | 260,4 k € | +12.3% | 231,8 k € | -7.1% | 249,5 k € | +4.2% | 239,4 k € | -7.0% | 257,5 k € | -52.4% | 541,3 k € | +71.6% | 315,5 k € | -12.3% | 359,6 k € | +187% | -411,3 k € | -356% | 160,8 k € | -26.6% | 219,1 k € | +2.0% | 214,9 k € | -9.6% | 237,7 k € | -4.1% | 247,7 k € | -47.1% | 468,4 k € | -1.1% | 473,8 k € | +2.6% | 461,7 k € | -14.8% | 541,9 k € |
| Net result | 1,6 M € | +1.4% | 1,6 M € | -16.2% | 1,9 M € | -4.1% | 2 M € | +1090% | 167,9 k € | -95.0% | 3,4 M € | +55.8% | 2,2 M € | +1456% | 139,5 k € | -95.9% | 3,4 M € | +1997% | 160,9 k € | +613% | 22,6 k € | +48.7% | 15,2 k € | -83.7% | 93,4 k € | -40.3% | 156,3 k € | +6.2% | 147,3 k € | -2.1% | 150,5 k € | -21.8% | 192,5 k € | -25.8% | 259,3 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||
| Equity | 3,4 M € | +0.9% | 3,3 M € | +0.2% | 3,3 M € | +6.9% | 3,1 M € | +10.6% | 2,8 M € | -78.7% | 13,2 M € | +34.3% | 9,9 M € | +28.2% | 7,7 M € | +1.8% | 7,5 M € | +80.8% | 4,2 M € | +4.0% | 4 M € | -9.0% | 4,4 M € | +0.3% | 4,4 M € | -7.2% | 4,7 M € | +3.4% | 4,6 M € | +3.3% | 4,4 M € | +3.5% | 4,3 M € | +4.7% | 4,1 M € |
| Total assets | 8 M € | -0.9% | 8 M € | -2.8% | 8,3 M € | -1.3% | 8,4 M € | +27.6% | 6,6 M € | -54.0% | 14,3 M € | +28.6% | 11,1 M € | +4.3% | 10,6 M € | +10.4% | 9,6 M € | +52.0% | 6,3 M € | -20.1% | 7,9 M € | -4.7% | 8,3 M € | +8.2% | 7,7 M € | +7.9% | 7,1 M € | -1.9% | 7,3 M € | -1.4% | 7,4 M € | -2.5% | 7,6 M € | +17.8% | 6,4 M € |
| Cash | 771,8 € | -97.4% | 29,5 k € | +428% | 5,6 k € | -48.6% | 10,9 k € | -56.4% | 24,9 k € | -99.2% | 3 M € | +13.3% | 2,7 M € | -34.0% | 4,1 M € | +1742% | 221,1 k € | +408% | 43,5 k € | -24.0% | 57,3 k € | -50.6% | 115,9 k € | +148% | 46,8 k € | -13.8% | 54,3 k € | -2.7% | 55,8 k € | +21.8% | 45,8 k € | -63.3% | 124,7 k € | +10.6% | 112,8 k € |
| Debts | 4,6 M € | -2.1% | 4,7 M € | -4.8% | 4,9 M € | -6.2% | 5,3 M € | +40.5% | 3,7 M € | +263% | 1 M € | -16.9% | 1,2 M € | -58.0% | 2,9 M € | +41.2% | 2,1 M € | -3.5% | 2,2 M € | -44.8% | 3,9 M € | +0.2% | 3,9 M € | +18.7% | 3,3 M € | +37.7% | 2,4 M € | -10.9% | 2,7 M € | -8.5% | 2,9 M € | -10.4% | 3,3 M € | +40.9% | 2,3 M € |
| Other | |||||||||||||||||||||||||||||||||||
| Workforce | 0,0 ETP | 0,0 ETP | 0,0 ETP | – | – | – | 1,8 ETP | -10.0% | 2,0 ETP | -23.1% | 2,6 ETP | 0.0% | 2,6 ETP | 0.0% | 2,6 ETP | 0.0% | 2,6 ETP | – | – | – | – | – | – | ||||||||||||
Estimate
Indicative valuation
As an indication, this company is worth
between 0 € and 100 k€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 2 active · 16 ended
Active mandates
Active
Active
Ended mandates
At this address
Other companies at this address
| Company | CBE no. |
|---|---|
Beyaert-Sioen Printers● Active | 0405.316.874 |
B-Packaging● Active | 0784.745.935 |
Cardinal Invest● Active | 0730.917.566 |
JOLAX● Active | 0740.444.748 |
L & A Investment● Active | 0685.817.714 |
Financials
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 | 27/04/2026 | 22/05/2025 | 23/05/2024 | 03/05/2023 | 14/06/2022 | 19/08/2021 |
| General meeting | 25/04/2026 | 26/04/2025 | 27/04/2024 | 29/04/2023 | 30/04/2022 | 24/04/2021 |
| 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 daysFilings
Annual accounts filings
20 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Abridged model | 31/12/2025 | 25/04/2026 | 27/04/2026 | Dutch | |
| Abridged model | 31/12/2024 | 26/04/2025 | 22/05/2025 | Dutch | |
| Abridged model | 31/12/2023 | 27/04/2024 | 23/05/2024 | Dutch | |
| Abridged model | 31/12/2022 | 29/04/2023 | 03/05/2023 | Dutch | |
| Abridged model | 31/12/2021 | 30/04/2022 | 14/06/2022 | Dutch | |
| Abridged model | 31/12/2020 | 24/04/2021 | 19/08/2021 | Dutch | |
| Abridged model | 31/12/2019 | 25/04/2020 | 18/06/2020 | Dutch | |
| Abridged model | 31/12/2018 | 11/06/2019 | 19/06/2019 | Dutch | |
| Abridged model | 31/12/2017 | 30/06/2018 | 20/07/2018 | Dutch | |
| Abridged model | 31/12/2016 | 13/06/2017 | 30/08/2017 | Dutch | |
| Abridged model | 31/12/2015 | 14/06/2016 | 30/08/2016 | Dutch | |
| Abridged model | 31/12/2014 | 09/06/2015 | 31/08/2015 | Dutch | |
| Abridged model | 31/12/2013 | 10/06/2014 | 19/08/2014 | Dutch | |
| Abridged model | 31/12/2012 | 11/06/2013 | 26/08/2013 | Dutch | |
| Abridged model | 31/12/2011 | 12/06/2012 | 31/08/2012 | Dutch | |
| Abridged model | 31/12/2010 | 06/06/2011 | 31/08/2011 | Dutch | |
| Abridged model | 31/12/2009 | 07/06/2010 | 31/08/2010 | Dutch | |
| Abridged model | 31/12/2008 | 08/06/2009 | 30/06/2009 | Dutch | |
| Abridged model | 31/12/2007 | 02/06/2008 | 24/09/2008 | Dutch | |
| Abridged model | 31/12/2006 | 04/06/2007 | 11/07/2007 | Dutch |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 0 € and 100 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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 2 active · 16 ended
Active mandates
Active
Active
Ended mandates
Shareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Mandates07/05/2026ONTSLAGEN - BENOEMINGEN - DIVERSEN
- Other06/05/2020STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ALGEMENE VERGADERING
- Mandates18/02/2020ONTSLAGEN - BENOEMINGEN
- Restructuring13/08/2019RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
- Restructuring17/06/2019RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
- Other20/04/2015DIVERSEN
- Capital / shares20/01/2014KAPITAAL - AANDELEN
- Restructuring20/01/2014KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 20251,6 M €↑
- 2024Annual accounts 20241,6 M €↓
- 2023Annual accounts 20231,9 M €↓
- 2022Annual accounts 20222 M €↑
- 2021Annual accounts 2021167,9 k €↓
- 2018Annual accounts 20183,4 M €↑
- 2017Annual accounts 20172,2 M €↑
- 2016Annual accounts 2016139,5 k €↓
- 2015Annual accounts 20153,4 M €↑
- 2014Annual accounts 2014160,9 k €↑
- 2013Annual accounts 201322,6 k €↑
- 2012Annual accounts 201215,2 k €↓
- 2011Annual accounts 201193,4 k €↓
- 2010Annual accounts 2010156,3 k €↑
- 2009Annual accounts 2009147,3 k €↓
- 2008Annual accounts 2008150,5 k €↓
- 2007Annual accounts 2007192,5 k €↓
- 2006Annual accounts 2006259,3 k €
- 28/02/1991IncorporationPublic limited company