ACTIVE

D.F.M.

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Financial year 2025 · closed on 31/12/2025

Net result

2,1 M €

-5.2% YoY

Gross margin

1,3 M €

+54.0% YoY

Equity

55,5 M €

+3.9% YoY

What does D.F.M. do?

D.F.M. 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 0445.454.979

Incorporation

18/10/1991

Legal form

Public limited company

Registered office

Marcel Windelsstraat 46
8790 Waregem · FlandreSee on map

Contributed capital

322 261,58 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ 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		2007
Income statement
Gross margin	1,3 M €	+54.0%	871 k €	-11.8%	987,5 k €	+10.1%	897 k €	+4.9%	855 k €	-0.2%	857,1 k €	-8.5%	936,3 k €	-17.5%	1,1 M €	+61.9%	701,4 k €	-38.1%	1,1 M €	-3.6%	1,2 M €	-2.5%	1,2 M €	+76.0%	684,6 k €	+62.1%	422,3 k €	-15.5%	499,7 k €	-18.7%	614,5 k €	+16.8%	526,3 k €	-7.3%	567,7 k €
EBITDA	1,2 M €	+64.9%	715,4 k €	-17.3%	864,7 k €	+9.4%	790,4 k €	+5.9%	746,6 k €	-0.3%	749 k €	-2.3%	766,7 k €	-20.5%	964,5 k €	+55.1%	621,8 k €	-41.8%	1,1 M €	-1.7%	1,1 M €	-3.1%	1,1 M €	+85.0%	606,5 k €	+104%	297,4 k €	-34.6%	454,5 k €	+5.5%	430,7 k €	-17.0%	519,2 k €	-6.6%	556 k €
Operating result	649,5 k €	+428%	123 k €	-73.5%	464,4 k €	-1.4%	470,8 k €	+9.7%	429 k €	+3.8%	413,4 k €	-3.3%	427,5 k €	-2.3%	437,5 k €	+73.8%	251,7 k €	-66.7%	756,8 k €	-3.7%	786,3 k €	+5.1%	748,1 k €	+234%	224,3 k €	+590%	-45,7 k €	-133%	140,6 k €	+332%	32,5 k €	-86.4%	239 k €	-39.2%	393,1 k €
Net result	2,1 M €	-5.2%	2,2 M €	-15.1%	2,6 M €	+129%	1,1 M €	-10.5%	1,3 M €	+78.2%	703,8 k €	-14.6%	824,1 k €	-11.0%	925,6 k €	+112%	-8 M €	-758%	1,2 M €	-8.0%	1,3 M €	-40.9%	2,2 M €	+105%	1,1 M €	+51.1%	723,3 k €	-18.0%	881,8 k €	+19.0%	741,1 k €	-30.5%	1,1 M €	+407%	210,2 k €
Balance sheet
Equity	55,5 M €	+3.9%	53,4 M €	+4.3%	51,2 M €	+5.3%	48,6 M €	+2.4%	47,5 M €	+2.7%	46,3 M €	+1.5%	45,6 M €	+1.8%	44,7 M €	+2.1%	43,8 M €	-15.5%	51,8 M €	+2.4%	50,6 M €	+2.7%	49,3 M €	+4.8%	47 M €	+2.4%	45,9 M €	+1.6%	45,2 M €	+2.0%	44,3 M €	+1.7%	43,6 M €	+2153%	1,9 M €
Total assets	55,6 M €	+3.9%	53,4 M €	+1.8%	52,5 M €	+7.8%	48,7 M €	+2.4%	47,5 M €	+2.7%	46,3 M €	+1.2%	45,7 M €	+1.7%	45 M €	+2.0%	44,1 M €	-15.3%	52 M €	+2.3%	50,9 M €	+2.6%	49,6 M €	+5.0%	47,2 M €	+0.9%	46,8 M €	+1.6%	46,1 M €	+2.0%	45,2 M €	+1.4%	44,6 M €	+746%	5,3 M €
Cash	26,2 k €	-89.0%	238,5 k €	-85.0%	1,6 M €	+279%	418,8 k €	-96.2%	11 M €	+81.2%	6 M €	+588%	878,2 k €	+28.3%	684,4 k €	-77.5%	3 M €	+1025%	269,9 k €	-80.0%	1,4 M €	+755%	158,2 k €	-64.9%	451,2 k €	+470%	79,2 k €	-93.4%	1,2 M €	-88.3%	10,2 M €	+16338%	62,1 k €	+39.8%	44,4 k €
Debts	71,4 k €	+98.4%	36 k €	-97.2%	1,3 M €	+2066%	59 k €	+77.3%	33,3 k €	+40.0%	23,8 k €	-85.4%	163,1 k €	-27.1%	223,8 k €	+17.3%	190,7 k €	-15.2%	225 k €	-18.1%	274,7 k €	+0.7%	272,9 k €	+41.6%	192,7 k €	-78.2%	885,8 k €	+0.8%	878,6 k €	+3.5%	849,3 k €	-11.1%	955,8 k €	-71.3%	3,3 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 19 ended

Active mandates

Dirk Naessens

Managing director

Active

Katrien Verbauwhede

Managing director

Active

Ended mandates

Dirk Naessens

Managing director · since 01 juin 2020 · until 01 juin 2026

Ended

Katrien VERBAUWHEDE

Managing director · since 01 juin 2020 · until 01 juin 2026

Ended

Katrien VERBAUWHEDE

Managing director · since 29 mai 2018 · until 01 juin 2020

Ended

Dirk NAESSENS

Managing director · since 01 décembre 2014 · until 01 juin 2020

Ended

At this address

Other companies at this address

Company	CBE no.
CLICQUOT● Active	0722.983.956
PAR-INVEST & CO● Active	0455.307.904

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	03/07/2026	06/06/2025	19/07/2024	21/06/2023	30/06/2022	25/08/2021
General meeting	01/06/2026	02/06/2025	03/06/2024	05/06/2023	07/06/2022	07/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	01/06/2026	03/07/2026	Dutch	PDF
Abridged model	31/12/2024	02/06/2025	06/06/2025	Dutch	PDF
Abridged model	31/12/2023	03/06/2024	19/07/2024	Dutch	PDF
Abridged model	31/12/2022	05/06/2023	21/06/2023	Dutch	PDF
Abridged model	31/12/2021	07/06/2022	30/06/2022	Dutch	PDF
Abridged model	31/12/2020	07/06/2021	25/08/2021	Dutch	PDF
Abridged model	31/12/2019	02/06/2020	08/06/2020	Dutch	PDF
Abridged model	31/12/2018	03/06/2019	20/06/2019	Dutch	PDF
Abridged model	30/06/2017	04/12/2017	11/12/2017	Dutch	PDF
Abridged model	30/06/2016	05/12/2016	20/12/2016	Dutch	PDF
Abridged model	30/06/2015	07/12/2015	07/12/2015	Dutch	PDF
Abridged model	30/06/2014	01/12/2014	18/12/2014	Dutch	PDF
Abridged model	30/06/2013	02/12/2013	17/12/2013	Dutch	PDF
Abridged model	30/06/2012	03/12/2012	19/12/2012	Dutch	PDF
Abridged model	30/06/2011	05/12/2011	29/12/2011	Dutch	PDF
Abridged model	30/06/2010	06/12/2010	23/12/2010	Dutch	PDF
Abridged model	30/06/2009	07/12/2009	02/04/2010	Dutch	PDF
Abridged model	30/06/2008	01/12/2008	20/03/2009	Dutch	PDF
Abridged model	30/06/2007	03/12/2007	23/04/2008	Dutch	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 19 ended

Active mandates

Dirk Naessens

Managing director

Active

Katrien Verbauwhede

Managing director

Active

Ended mandates

Dirk Naessens

Managing director · since 01 juin 2020 · until 01 juin 2026

Ended

Katrien VERBAUWHEDE

Managing director · since 01 juin 2020 · until 01 juin 2026

Ended

Katrien VERBAUWHEDE

Managing director · since 29 mai 2018 · until 01 juin 2020

Ended

Dirk NAESSENS

Managing director · since 01 décembre 2014 · until 01 juin 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring27/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring31/10/2023
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates16/03/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/01/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/06/2018
ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates30/12/2014
ONTSLAGEN - BENOEMINGEN
PDF
Registered office27/02/2012
MAATSCHAPPELIJKE ZETEL - KAPITAAL - AANDELEN
PDF
Registered office22/09/2010
wijziging maatschappelijke zetel
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 20252,1 M €↓
2024
Annual accounts 20242,2 M €↓
2023
Annual accounts 20232,6 M €↑
2022
Annual accounts 20221,1 M €↓
2021
Annual accounts 20211,3 M €↑
2020
Annual accounts 2020703,8 k €↓
2019
Annual accounts 2019824,1 k €↓
2018
Annual accounts 2018925,6 k €↑
2017
Annual accounts 2017-8 M €↓
2016
Annual accounts 20161,2 M €↓
2015
Annual accounts 20151,3 M €↓
2014
Annual accounts 20142,2 M €↑
2013
Annual accounts 20131,1 M €↑
2012
Annual accounts 2012723,3 k €↓
2011
Annual accounts 2011881,8 k €↑
2010
Annual accounts 2010741,1 k €↓
2009
Annual accounts 20091,1 M €↑
2007
Annual accounts 2007210,2 k €
18/10/1991
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

D.F.M.

Overview

What does D.F.M. 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