ACTIVE

CEDES

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Financial year 2025 · Closed on 31/12/2025

Net result135,3 k €+75,8 %over 1 year
Gross margin265,8 k €+35,1 %over 1 year
Equity721,1 k €+0,2 %over 1 year

Identity

Source · BCE/KBO

CEDES is a Public limited company incorporated in 1992. Its main activity is: Management consultancy activities. Its registered office is in Bruxelles.

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0448.462.375
Incorporation
23/10/1992
Legal form
Public limited company
Registered office
Rue de la Presse 4
1000 Bruxelles · BruxellesSee on map
Contributed capital
247 893,52 €
Latest accounts
31/12/2025
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

Financials

Source · NBB, 20 filings

Trend over 20 financial years

20252024202320222021
Income statement
Gross margin265,8 k €196,7 k €194,6 k €187,3 k €147,3 k €
EBITDA258,3 k €189,2 k €181,8 k €179,6 k €140,6 k €
Operating result176,7 k €115,9 k €122 k €131 k €94,1 k €
Net result135,3 k €77 k €85 k €90 k €67,1 k €
Balance sheet
Equity721,1 k €719,9 k €677,9 k €642,8 k €632,8 k €
Total assets1,2 M €1,2 M €1,1 M €1,1 M €1 M €
Cash105,1 k €122,6 k €182,8 k €159 k €169,4 k €
Debts470,6 k €445,1 k €427,3 k €420,7 k €394,6 k €

Valuation

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 18 ended

Active mandates

Bernard Santens

Director · since 02 août 2014 · until 06 juillet 2026

Active
Patricia Desimpel

Managing director · since 02 août 2014 · until 06 juillet 2026

Active

Ended mandates

Bernard Santens

Director · since 02 août 2014 · until 06 juin 2020

Ended
Bernard Santens

Director · since 02 août 2014 · until 14 août 2020

Ended
Bernard Santens

Director · since 02 août 2014 · until 06 juin 2026

Ended
Patricia Desimpel

Managing director · since 02 août 2014 · until 06 juin 2020

Ended

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Full financial information

Source · NBB
202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro modelMicro modelMicro model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date05/08/202611/06/202512/08/202420/07/202327/06/202230/08/2021
General meeting06/07/202607/06/202507/08/202406/07/202304/06/202218/08/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings
ModelClosingGeneral meetingFiledLanguageDocument
Micro model31/12/202506/07/202605/08/2026DutchPDF
Micro model31/12/202407/06/202511/06/2025DutchPDF
Micro model31/12/202307/08/202412/08/2024DutchPDF
Micro model31/12/202206/07/202320/07/2023DutchPDF
Micro model31/12/202104/06/202227/06/2022DutchPDF
Micro model31/12/202018/08/202130/08/2021DutchPDF
Micro model31/12/201914/08/202011/09/2020DutchPDF
Micro model31/12/201831/07/201929/08/2019DutchPDF
Micro model31/12/201702/06/201829/06/2018DutchPDF
Micro model31/12/201602/08/201730/08/2017DutchPDF
Abridged model31/12/201504/06/201628/06/2016DutchPDF
Abridged model31/12/201424/08/201526/08/2015DutchPDF
Abridged model31/12/201302/08/201427/08/2014DutchPDF
Abridged model31/12/201201/06/201330/08/2013DutchPDF
Abridged model31/12/201102/06/201229/08/2012DutchPDF
Abridged model31/12/201004/06/201130/08/2011DutchPDF
Abridged model31/12/200905/06/201031/08/2010DutchPDF
Abridged model31/12/200806/06/200931/08/2009DutchPDF
Abridged model31/12/200707/06/200815/07/2008DutchPDF
Abridged model31/12/200602/06/200731/08/2007DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 18 ended

Active mandates

Bernard Santens

Director · since 02 août 2014 · until 06 juillet 2026

Active
Patricia Desimpel

Managing director · since 02 août 2014 · until 06 juillet 2026

Active

Ended mandates

Bernard Santens

Director · since 02 août 2014 · until 06 juin 2020

Ended
Bernard Santens

Director · since 02 août 2014 · until 14 août 2020

Ended
Bernard Santens

Director · since 02 août 2014 · until 06 juin 2026

Ended
Patricia Desimpel

Managing director · since 02 août 2014 · until 06 juin 2020

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates14/09/2026
    herbenoeming bestuurders + gedelegeerd bestuurder
    PDF
  • Mandates24/08/2023
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
    PDF
  • Mandates05/11/2020
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office07/02/2017
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates02/02/2015
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates10/01/2012
    KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Registered office17/07/2009
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates20/09/2007
    ONTSLAGEN - BENOEMINGEN
    PDF

Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025135,3 k €↑
  2. 2024
    Annual accounts 202477 k €↓
  3. 2023
    Annual accounts 202385 k €↓
  4. 2022
    Annual accounts 202290 k €↑
  5. 2021
    Annual accounts 202167,1 k €↑
  6. 2020
    Annual accounts 202042,5 k €↓
  7. 2019
    Annual accounts 2019144,1 k €↑
  8. 2018
    Annual accounts 201831,8 k €↑
  9. 2017
    Annual accounts 201710,3 k €↑
  10. 2016
    Annual accounts 20163,5 k €↑
  11. 2015
    Annual accounts 2015-15,8 k €↑
  12. 2014
    Annual accounts 2014-46,4 k €↓
  13. 2013
    Annual accounts 201345,1 k €↓
  14. 2012
    Annual accounts 2012111,5 k €↓
  15. 2011
    Annual accounts 2011176,5 k €↑
  16. 2010
    Annual accounts 201013,5 k €↓
  17. 2009
    Annual accounts 200931 k €↑
  18. 2008
    Annual accounts 2008-54,2 k €↓
  19. 2007
    Annual accounts 2007-18,9 k €↑
  20. 2006
    Annual accounts 2006-47,6 k €
  21. 23/10/1992
    IncorporationPublic limited company