NORMAL SITUATION

INCAVU

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Company — Normal situation.

Strike-off: 01 juillet 2026

Financial year 2025 · Closed on 31/12/2025

Net result48 k €+7,7 %over 1 year

Gross margin126,2 k €+8,2 %over 1 year

Equity600,9 k €+8,7 %over 1 year

Identity

Source · BCE/KBO

INCAVU is a Public limited company incorporated in 1992.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0447.974.407
Incorporation: 24/07/1992
Legal form: Public limited company
Contributed capital: 483 392,37 €
Latest accounts: 31/12/2025

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDA

Financials

Source · NBB, 20 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	126,2 k €	+8.2%	116,7 k €	+74.4%	66,9 k €	-6.5%	71,5 k €	-10.1%	79,5 k €
EBITDA	121,7 k €	+8.3%	112,4 k €	+85.0%	60,8 k €	-10.4%	67,8 k €	-10.7%	76 k €
Operating result	66,7 k €	+28.5%	51,9 k €	+386%	-18,2 k €	-47.5%	-12,3 k €	-151%	24 k €
Net result	48 k €	+7.7%	44,6 k €	+307%	-21,5 k €	-55.2%	-13,9 k €	-164%	21,5 k €
Balance sheet
Equity	600,9 k €	+8.7%	552,9 k €	+8.8%	508,3 k €	-4.1%	529,8 k €	-2.5%	543,7 k €
Total assets	752,7 k €	+8.3%	695,2 k €	+11.1%	625,6 k €	-3.0%	644,8 k €	+6.0%	608,3 k €
Cash	409,2 k €	+40.9%	290,3 k €	+85.5%	156,5 k €	+53.8%	101,8 k €	+372%	21,6 k €
Debts	151,7 k €	+6.6%	142,3 k €	+21.4%	117,3 k €	+2.0%	114,9 k €	+78.0%	64,6 k €

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 5 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Serge DENDAS	Director23/05/2014 → 22/05/2026
ELDIAUR0883.425.322Represented by Damien VANDEN DAEL	Managing directoruntil 22/05/2026Chairman of the board of directors14/11/2007 → 2007 accountsended
Matthieu VANDEN DAEL	Director14/11/2007 → 22/05/2026

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Marie-Christine LOEWENSTEIN	Director14/11/2007 → 2007 accounts
Christianne VAN USSEL	Managing director01/07/2002 → 2007 accounts
François DE CORT	Director01/07/2002 → 13/11/2007

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	02/06/2026	05/06/2025	03/06/2024	05/06/2023	21/06/2022	17/06/2021
General meeting	22/05/2026	23/05/2025	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
Micro model	31/12/2025	22/05/2026	02/06/2026	Dutch	PDF
Micro model	31/12/2024	23/05/2025	05/06/2025	Dutch	PDF
Micro model	31/12/2023	31/05/2024	03/06/2024	Dutch	PDF
Micro model	31/12/2022	26/05/2023	05/06/2023	Dutch	PDF
Micro model	31/12/2021	27/05/2022	21/06/2022	Dutch	PDF
Micro model	31/12/2020	28/05/2021	17/06/2021	Dutch	PDF
Micro model	31/12/2019	22/05/2020	18/06/2020	Dutch	PDF
Micro model	31/12/2018	24/05/2019	13/06/2019	Dutch	PDF
Abridged model	31/12/2017	25/05/2018	06/06/2018	Dutch	PDF
Abridged model	31/12/2016	26/05/2017	20/06/2017	Dutch	PDF
Abridged model	31/12/2015	27/05/2016	06/06/2016	Dutch	PDF
Abridged model	31/12/2014	22/05/2015	08/06/2015	Dutch	PDF
Abridged model	31/12/2013	23/05/2014	17/06/2014	Dutch	PDF
Abridged model	31/12/2012	24/05/2013	21/06/2013	Dutch	PDF
Abridged model	31/12/2011	25/05/2012	12/06/2012	Dutch	PDF
Abridged model	31/12/2010	27/05/2011	15/06/2011	Dutch	PDF
Abridged model	31/12/2009	28/05/2010	14/06/2010	Dutch	PDF
Abridged model	31/12/2008	22/05/2009	09/06/2009	Dutch	PDF
Abridged model	31/12/2007	23/05/2008	01/06/2008	Dutch	PDF
Abridged model	31/12/2006	25/05/2007	05/07/2007	Dutch	PDF

Indicative valuation

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

3 active · 5 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Serge DENDAS	Director23/05/2014 → 22/05/2026
ELDIAUR0883.425.322Represented by Damien VANDEN DAEL	Managing directoruntil 22/05/2026Chairman of the board of directors14/11/2007 → 2007 accountsended
Matthieu VANDEN DAEL	Director14/11/2007 → 22/05/2026

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Marie-Christine LOEWENSTEIN	Director14/11/2007 → 2007 accounts
Christianne VAN USSEL	Managing director01/07/2002 → 2007 accounts
François DE CORT	Director01/07/2002 → 13/11/2007

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Restructuring07/07/2026
NV: VERRICHTING GELIJKGESTELD MET FUSIE DOOR OVERNEMING -
PDF
Mandates17/06/2026
Herbenoeming van bestuurders
PDF
Restructuring29/04/2026
FUSIEVOORSTEL
PDF
Mandates03/07/2020
Herbenoeming van bestuurders
PDF
Mandates03/07/2014
Herbenoeming en benoeming van bestuurders
PDF
Mandates02/02/2009
, HERBENOEMING
PDF
Mandates29/11/2007
ONTSLAG - BENOEMING
PDF

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

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Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings20 filings

Mandates

ELDIAUR

Serge DENDAS

Matthieu VANDEN DAEL

Marie-Christine LOEWENSTEIN

François DE CORT

Christianne VAN USSEL

Nicholas CATOR

Marie-Christine LOWENSTEIN

19921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026

INCAVU

Elisabethlaan 30, 1970 Wezembeek-Oppem

Managing director

Director

Managing director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Avenue Elisabeth 30, 1970 Wezembeek-Oppem	CBE until 01/07/2026	CBE
Elisabethlaan 30, 1970 Wezembeek-Oppem	accounts 2021 → 2025	Accounts 2025 · 2026-00135635

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
INCAVU	CBE until 01/07/2026	CBE
INCAVU	accounts 2021 → 2025	Accounts 2025 · 2026-00135635

Events

2025
Annual accounts 202548 k €↑
2024
Annual accounts 202444,6 k €↑
2023
Annual accounts 2023-21,5 k €↓
2022
Annual accounts 2022-13,9 k €↓
2021
Annual accounts 202121,5 k €↑
2020
Annual accounts 20208,6 k €↑
2019
Annual accounts 20195,9 k €↓
2018
Annual accounts 201812 k €↓
2017
Annual accounts 201712,6 k €↓
2016
Annual accounts 201636,7 k €↑
2015
Annual accounts 201510,1 k €↑
2014
Annual accounts 20148,2 k €↓
2013
Annual accounts 201324,5 k €↑
2012
Annual accounts 201220 k €↑
2011
Annual accounts 2011-7,4 k €↑
2010
Annual accounts 2010-12,8 k €↓
2009
Annual accounts 200912,8 k €↓
2008
Annual accounts 200856,3 k €↑
2007
Annual accounts 2007-18,6 k €↑
2006
Annual accounts 2006-61,5 k €
24/07/1992
IncorporationPublic limited company

INCAVU

Overview

Identity

Financials

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