ACTIVE

Radar

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Financial year 2025 · closed on 31/12/2025

Net result

83,1 k €

-36.3% YoY

Gross margin

1,7 M €

+16.6% YoY

Equity

989,6 k €

+8.9% YoY

Workforce

19,7 ETP

+20.9% YoY

What does Radar do?

Radar is a Non-profit organization incorporated in 1991. Its main activity is: Technical and vocational secondary education. Its registered office is in Ternat. It employs on average 19,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0445.200.702

Incorporation

12/02/1991

Legal form

Non-profit organization

Registered office

Statiestraat 8
1740 Ternat · FlandreSee on map

Latest accounts

31/12/2025

Average workforce

19,7 ETP

Activities (NACE)

85323Technical and vocational secondary education· main 88999Other social work activities without accommodation n.e.c.88999Other social work activities without accommodation n.e.c.

Joint committees (1)

31901

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	1,7 M €	+16.6%	1,5 M €	+21.2%	1,2 M €	+11.1%	1,1 M €	+14.9%	957 k €	+32.5%	722,2 k €	+2.6%	704 k €	+10.0%	640,2 k €		–		500,1 k €	+4.4%	478,9 k €	-7.2%	516,2 k €	+1.2%	510,2 k €	-4.8%	535,7 k €	+9.7%	488,6 k €	+1.8%	480,1 k €	+5.8%	453,8 k €	+1.9%	445,4 k €	+6.8%	416,9 k €
EBITDA	99,6 k €	-34.8%	152,9 k €	+1.4%	150,8 k €	+327%	35,3 k €	-60.9%	90,5 k €	+110%	43,1 k €	-28.3%	60,1 k €	-54.5%	132,3 k €	+589%	-27 k €	-195%	28,3 k €	-40.7%	47,8 k €	+753%	5,6 k €	-67.9%	17,4 k €	-58.9%	42,4 k €	+378%	8,9 k €	+3.7%	8,6 k €	+342%	-3,5 k €	-114%	24,7 k €	+76.7%	14 k €
Operating result	73,1 k €	-43.5%	129,4 k €	+4.6%	123,7 k €	+855%	13 k €	-82.5%	74 k €	+215%	23,5 k €	-32.8%	35 k €	-69.5%	114,9 k €	+372%	-42,2 k €	-374%	15,4 k €	-57.4%	36,2 k €	+833%	-4,9 k €	-164%	7,7 k €	-77.9%	34,9 k €	+1284%	2,5 k €	+25.5%	2 k €	+119%	-10,4 k €	-162%	16,8 k €	+176%	6,1 k €
Net result	83,1 k €	-36.3%	130,5 k €	+6.4%	122,6 k €	+1076%	10,4 k €	-85.2%	70,4 k €	+563%	-15,2 k €	-107%	227,8 k €	+176%	82,6 k €	+597%	-16,6 k €	-44.6%	-11,5 k €	-110%	121 k €	+2784%	4,2 k €	-93.2%	61,9 k €	+98.8%	31,1 k €	+611%	4,4 k €	+21.4%	3,6 k €	+143%	-8,3 k €	-133%	24,8 k €	+65.6%	15 k €
Balance sheet
Equity	989,6 k €	+8.9%	908,4 k €	+16.5%	779,9 k €	+18.3%	659,3 k €	+1.3%	650,8 k €	+23.0%	529,2 k €	-2.8%	544,4 k €	+48.8%	365,8 k €	+29.2%	283,2 k €	-28.3%	394,8 k €	-2.8%	406,3 k €	+42.4%	285,3 k €	-1.1%	288,6 k €	+27.3%	226,7 k €	+15.9%	195,5 k €	-0.8%	197,2 k €	+1.4%	194,5 k €	+24.1%	156,7 k €	+18.8%	132 k €
Total assets	1,8 M €	-11.7%	2,1 M €	+58.8%	1,3 M €	+22.1%	1,1 M €	+4.5%	1 M €	+32.0%	773,1 k €	+1.7%	760,1 k €	+65.2%	460 k €	+23.2%	373,5 k €	-5.5%	395,2 k €	-3.4%	409 k €	+3.4%	395,7 k €	+8.0%	366,4 k €	+29.5%	282,9 k €	+19.1%	237,6 k €	-5.0%	250 k €	-1.3%	253,2 k €	+2.0%	248,3 k €	+9.6%	226,6 k €
Cash	1 M €	-4.3%	1,1 M €	+63.3%	644,5 k €	+43.1%	450,5 k €	-9.2%	496,2 k €	+51.0%	328,7 k €	+9.3%	300,8 k €	-12.8%	344,9 k €	+29.8%	265,6 k €	-9.8%	294,5 k €	-4.0%	306,9 k €	-9.5%	339 k €	+10.1%	307,9 k €	+5472%	5,5 k €	+262%	1,5 k €	-69.6%	5 k €	+50.8%	3,3 k €	-76.5%	14,2 k €	+1389%	953,1 €
Debts	411,3 k €	-32.0%	605,3 k €	+62.5%	372,5 k €	+14.0%	326,8 k €	+5.8%	308,9 k €	+26.6%	243,9 k €	+14.7%	212,7 k €	+133%	91,1 k €	+43.6%	63,4 k €	+15997%	394,1 €	-80.9%	2,1 k €	-98.1%	108,4 k €	+42.5%	76,1 k €	+36.5%	55,7 k €	+33.4%	41,8 k €	-20.6%	52,6 k €	-10.0%	58,5 k €	+41.7%	41,3 k €	-5.7%	43,8 k €
Other
Workforce	19,7 ETP	+20.9%	16,3 ETP	+7.9%	15,1 ETP	+2.0%	14,8 ETP	+9.6%	13,5 ETP		–		11,0 ETP	0.0%	11,0 ETP	+37.5%	8,0 ETP	-24.5%	10,6 ETP	+1.9%	10,4 ETP	+13.0%	9,2 ETP	+8.2%	8,5 ETP	+6.3%	8,0 ETP	0.0%	8,0 ETP	0.0%	8,0 ETP	+700%	1,0 ETP	-87.5%	8,0 ETP	0.0%	8,0 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 31/12/2025 · 4 active · 30 ended

Active mandates

Els VAN EECKHOUDT

Director

Active

Geert CROES

Director

Active

Madeleine LIMBOURG

Director

Active

Vera VERBEKEN

Director

Active

Ended mandates

Els Van Eeckhoudt

Director · since 23 avril 2019

Ended

Sandra De Nil

Director · since 23 avril 2019 · until 26 avril 2022

Ended

Geert Croes

Director · since 31 mars 2015

Ended

Wouter Mareels

Director · since 13 avril 2013

Ended

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	28/04/2026	08/05/2025	03/06/2024	02/06/2023	06/05/2022	07/06/2021
General meeting	21/04/2026	29/04/2025	30/04/2024	02/05/2023	26/04/2022	20/04/2021
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

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	21/04/2026	28/04/2026	Dutch	PDF
Abridged model	31/12/2024	29/04/2025	08/05/2025	Dutch	PDF
Abridged model	31/12/2023	30/04/2024	03/06/2024	Dutch	PDF
Abridged model	31/12/2022	02/05/2023	02/06/2023	Dutch	PDF
Abridged model	31/12/2021	26/04/2022	06/05/2022	Dutch	PDF
Abridged model	31/12/2020	20/04/2021	07/06/2021	Dutch	PDF
Abridged model	31/12/2019	23/06/2020	06/07/2020	Dutch	PDF
Abridged model	31/12/2018	23/04/2019	22/07/2019	Dutch	PDF
Full model	31/12/2017	24/04/2018	14/05/2018	Dutch	PDF
Abridged model	31/12/2016	28/03/2017	01/06/2017	Dutch	PDF
Abridged model	31/12/2015	15/03/2016	19/04/2016	Dutch	PDF
Abridged model	31/12/2014	31/03/2015	06/05/2015	Dutch	PDF
Abridged model	31/12/2013	25/03/2014	01/04/2014	Dutch	PDF
Abridged modelCorrection	31/12/2012	30/04/2013	02/12/2013	Dutch	PDF
Abridged model	31/12/2012	30/04/2013	21/05/2013	Dutch	PDF
Abridged model	31/12/2011	27/03/2012	03/05/2012	Dutch	PDF
Abridged model	31/12/2010	21/03/2011	11/04/2011	Dutch	PDF
Abridged model	31/12/2009	22/03/2010	07/05/2010	Dutch	PDF
Abridged model	31/12/2008	30/03/2009	06/04/2009	Dutch	PDF
Abridged model	31/12/2007	19/03/2008	15/04/2008	Dutch	PDF
Abridged model	31/12/2006	26/03/2007	31/05/2007	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 31/12/2025 · 4 active · 30 ended

Active mandates

Els VAN EECKHOUDT

Director

Active

Geert CROES

Director

Active

Madeleine LIMBOURG

Director

Active

Vera VERBEKEN

Director

Active

Ended mandates

Els Van Eeckhoudt

Director · since 23 avril 2019

Ended

Sandra De Nil

Director · since 23 avril 2019 · until 26 avril 2022

Ended

Geert Croes

Director · since 31 mars 2015

Ended

Wouter Mareels

Director · since 13 avril 2013

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates10/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/10/2024
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates20/05/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/06/2021
ONTSLAGEN - BENOEMINGEN
PDF
Registered office24/10/2019
MAATSCHAPPELIJKE ZETEL
PDF
Mandates29/05/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/06/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/04/2017
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 202583,1 k €↓
2024
Annual accounts 2024130,5 k €↑
2023
Annual accounts 2023122,6 k €↑
2022
Annual accounts 202210,4 k €↓
2021
Annual accounts 202170,4 k €↑
2020
Annual accounts 2020-15,2 k €↓
2019
Annual accounts 2019227,8 k €↑
2018
Annual accounts 201882,6 k €↑
2017
Annual accounts 2017-16,6 k €↓
2016
Annual accounts 2016-11,5 k €↓
2015
Annual accounts 2015121 k €↑
2014
Annual accounts 20144,2 k €↓
2013
Annual accounts 201361,9 k €↑
2012
Annual accounts 201231,1 k €↑
2011
Annual accounts 20114,4 k €↑
2010
Annual accounts 20103,6 k €↑
2009
Annual accounts 2009-8,3 k €↓
2008
Annual accounts 200824,8 k €↑
2007
Annual accounts 200715 k €
12/02/1991
IncorporationNon-profit organization

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

Radar

Overview

What does Radar do?

Trend over 19 financial years

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