ACTIVE

QUBO

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Financial year 2025 · Closed on 31/12/2025

Net result2 M €+27,3 %over 1 year

Revenue13,7 M €-5,1 %over 1 year

Equity23,2 M €+8,9 %over 1 year

Workforce37,6 ETP-3,6 %over 1 year

Identity

Source · BCE/KBO

QUBO is a Public limited company incorporated in 1991. Its main activity is: Construction of buildings. Its registered office is in Hamme (Vl.). It employs on average 37,6 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0444.600.389
Incorporation: 14/07/1991
Legal form: Public limited company
Registered office: Zwaarveld 69
9220 Hamme (Vl.) · FlandreSee on map
Contributed capital: 297 472,23 €
Latest accounts: 31/12/2025
Average workforce: 37,6 ETP

Activities (NACE)

41001Construction of buildings· main 41201Construction of residential and non-residential buildings 45211Maintenance and repair of motor vehicles 41101Development of building projects 68121Buying and selling of own real estate 70111Activities of head offices

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	13,7 M €	-5.1%	14,4 M €	-3.2%	14,9 M €	-7.3%	16,1 M €	+17.4%	13,7 M €
EBITDA	2,9 M €	+21.8%	2,4 M €	-21.6%	3 M €	-42.2%	5,2 M €	+27.3%	4,1 M €
Operating result	2,6 M €	+27.7%	2 M €	-26.3%	2,8 M €	-44.9%	5 M €	+28.5%	3,9 M €
Net result	2 M €	+27.3%	1,6 M €	-26.8%	2,2 M €	-39.6%	3,6 M €	+20.1%	3 M €
Balance sheet
Equity	23,2 M €	+8.9%	21,3 M €	+8.0%	19,7 M €	+12.2%	17,6 M €	+17.0%	15 M €
Total assets	25,3 M €	+7.9%	23,4 M €	+6.6%	21,9 M €	+7.3%	20,5 M €	+13.6%	18 M €
Cash	1,8 M €	+104%	892,5 k €	-7.5%	964,7 k €	-57.1%	2,3 M €	-17.2%	2,7 M €
Debts	2,1 M €	-1.8%	2,1 M €	-5.2%	2,2 M €	-22.7%	2,8 M €	-3.1%	2,9 M €
Other
Workforce	37,6 ETP	-3.6%	39,0 ETP	-5.3%	41,2 ETP	-1.7%	41,9 ETP	+1.2%	41,4 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Albert De Malsche	Managing director05/05/2017 → 31/05/2029
TRAVAUX0821.474.984Represented by Bart De Malsche	Managing director01/01/2010 → 31/05/2029Director01/01/2010 → 2015 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Aconman0821.474.885Represented by Tom De Malsche	Managing director28/02/2011 → 2015 accounts
Bart De Malsche	Managing director28/02/2011 → 2015 accounts
Tom De Malsche	Managing director28/02/2011 → 2015 accounts

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	29/05/2026	02/06/2025	04/06/2024	06/06/2023	24/06/2022	29/06/2021
General meeting	29/05/2026	30/05/2025	31/05/2024	26/05/2023	27/05/2022	28/05/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	29/05/2026	29/05/2026	Dutch	PDF
Full model	31/12/2024	30/05/2025	02/06/2025	Dutch	PDF
Full model	31/12/2023	31/05/2024	04/06/2024	Dutch	PDF
Full model	31/12/2022	26/05/2023	06/06/2023	Dutch	PDF
Full model	31/12/2021	27/05/2022	24/06/2022	Dutch	PDF
Full model	31/12/2020	28/05/2021	29/06/2021	Dutch	PDF
Full model	31/12/2019	29/05/2020	06/07/2020	Dutch	PDF
Full model	31/12/2018	31/05/2019	12/08/2019	Dutch	PDF
Full model	31/12/2017	25/05/2018	26/06/2018	Dutch	PDF
Full model	31/12/2016	26/05/2017	04/07/2017	Dutch	PDF
Full model	31/12/2015	27/05/2016	18/06/2016	Dutch	PDF
Full model	31/12/2014	29/05/2015	18/06/2015	Dutch	PDF
Full model	31/12/2013	30/05/2014	09/06/2014	Dutch	PDF
Full model	31/12/2012	31/05/2013	03/06/2013	Dutch	PDF
Full model	31/12/2011	25/05/2012	01/06/2012	Dutch	PDF
Full model	31/12/2010	27/05/2011	15/06/2011	Dutch	PDF
Full model	31/12/2009	28/05/2010	26/06/2010	Dutch	PDF
Full model	31/12/2008	29/05/2009	20/06/2009	Dutch	PDF
Full model	31/12/2007	30/05/2008	06/06/2008	Dutch	PDF
Abridged model	31/12/2006	25/05/2007	12/06/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Albert De Malsche	Managing director05/05/2017 → 31/05/2029
TRAVAUX0821.474.984Represented by Bart De Malsche	Managing director01/01/2010 → 31/05/2029Director01/01/2010 → 2015 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Aconman0821.474.885Represented by Tom De Malsche	Managing director28/02/2011 → 2015 accounts
Bart De Malsche	Managing director28/02/2011 → 2015 accounts
Tom De Malsche	Managing director28/02/2011 → 2015 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates13/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares05/03/2018
KAPITAAL - AANDELEN
PDF
Mandates17/08/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/03/2017
ONTSLAGEN - BENOEMINGEN
PDF
Other04/07/2012
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares09/03/2012
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates06/04/2011
ONTSLAGEN - BENOEMINGEN
PDF

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A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings20 filings

Mandates

TRAVAUX

Albert De Malsche

Aconman

Tom De Malsche

Bart De Malsche

199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026202720282029

QUBO

Zwaarveld 69, 9220 Hamme

Managing directorDirector

Managing director

Managing directorDirector

Managing director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Zwaarveld 69, 9220 HammeCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00126505

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
QUBOCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00126505

Events

2025
Annual accounts 20252 M €↑
2024
Annual accounts 20241,6 M €↓
2023
Annual accounts 20232,2 M €↓
2022
Annual accounts 20223,6 M €↑
2021
Annual accounts 20213 M €↑
2020
Annual accounts 20202,6 M €↑
2019
Annual accounts 20192 M €↓
2018
Annual accounts 20182,6 M €↑
2017
Annual accounts 20172,6 M €↑
2016
Annual accounts 20161,6 M €↓
2015
Annual accounts 20151,8 M €↓
2014
Annual accounts 20141,8 M €↓
2013
Annual accounts 20132 M €↑
2012
Annual accounts 20121,9 M €↑
2011
Annual accounts 20111,6 M €↑
2010
Annual accounts 20101,6 M €↑
2009
Annual accounts 20091,2 M €↑
2008
Annual accounts 20081 M €↓
2007
Annual accounts 20071,1 M €↑
2006
Annual accounts 2006968,3 k €
14/07/1991
IncorporationPublic limited company

QUBO

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events