ACTIVE

COELENBERG

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Financial year 2025 · closed on 31/12/2025

Net result

158,3 k €

-2.1% YoY

Gross margin

542,8 k €

-4.2% YoY

Equity

3,2 M €

+5.2% YoY

What does COELENBERG do?

COELENBERG is a Private limited company incorporated in 1992. Its main activity is: Production of electricity. Its registered office is in Wervik.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0448.843.744

Incorporation

05/12/1992

Legal form

Private limited company

Registered office

Ieperstraat 213
8940 Wervik · FlandreSee on map

Contributed capital

1 010 790,73 €

Latest accounts

31/12/2025

Activities (NACE)

35110Production of electricity· main 35110Production of electricity 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate 68203Rental and operating of own or leased real estate 68203Rental and operating of own or leased real estate

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	542,8 k €	-4.2%	566,4 k €	-10.6%	633,6 k €	+2.2%	620,1 k €	+5.7%	586,5 k €	+2.1%	574,3 k €	+17.7%	488 k €	-5.4%	515,8 k €	+100%	257,4 k €	+53.5%	167,7 k €	-29.2%	237 k €	-30.6%	341,3 k €	+19.2%	286,3 k €	-16.5%	342,7 k €	+76.3%	194,4 k €	+1786%	10,3 k €	-67.5%	31,7 k €	-33.4%	47,6 k €	+6.2%	44,9 k €	-8.4%	49 k €
EBITDA	498,2 k €	-5.1%	525 k €	-11.7%	594,8 k €	+2.1%	582,4 k €	+5.4%	552,4 k €	+0.5%	549,5 k €	+16.3%	472,4 k €	-5.8%	501,5 k €	+107%	242,1 k €	+59.3%	152 k €	-32.2%	224,3 k €	-31.6%	327,8 k €	+19.3%	274,9 k €	-17.0%	331,2 k €	+89.9%	174,4 k €	+26946%	-649,6 €	-103%	21,5 k €	-43.4%	37,9 k €	+8.5%	34,9 k €	-12.0%	39,7 k €
Operating result	212 k €	+1.1%	209,7 k €	-37.1%	333,1 k €	+3.2%	322,7 k €	+14.9%	280,9 k €	-5.6%	297,6 k €	+1096%	24,9 k €	-89.8%	243,7 k €	+797%	27,2 k €	+509%	-6,6 k €	-110%	65,1 k €	-62.0%	171,6 k €	+9.3%	157 k €	-29.7%	223,3 k €	+218%	70,3 k €	+422%	-21,8 k €	-886%	2,8 k €	-85.5%	19,2 k €	+18.3%	16,2 k €	+1.6%	16 k €
Net result	158,3 k €	-2.1%	161,6 k €	-19.2%	200,2 k €	+1.7%	196,9 k €	+0.5%	195,9 k €	+6.7%	183,7 k €	+4916%	-3,8 k €	-102%	176,4 k €	+2964%	5,8 k €	+123%	-25,4 k €	-167%	37,9 k €	-47.4%	72,2 k €	-35.7%	112,3 k €	-40.1%	187,7 k €	+145%	76,7 k €	+1.1%	75,9 k €	+21.9%	62,3 k €	-89.8%	612,6 k €	+5142%	11,7 k €	+17.0%	10 k €
Balance sheet
Equity	3,2 M €	+5.2%	3 M €	+5.6%	2,9 M €	+7.5%	2,7 M €	+7.9%	2,5 M €	+8.6%	2,3 M €	+8.7%	2,1 M €	-0.2%	2,1 M €	+9.2%	1,9 M €	+0.3%	1,9 M €	-1.3%	1,9 M €	+2.0%	1,9 M €	+47.2%	1,3 M €	-27.3%	1,8 M €	+11.8%	1,6 M €	-21.3%	2 M €	+3.9%	2 M €	+1.7%	1,9 M €	+46.8%	1,3 M €	+0.9%	1,3 M €
Total assets	3,7 M €	-12.1%	4,2 M €	-4.2%	4,4 M €	+4.1%	4,2 M €	+9.3%	3,9 M €	+2.2%	3,8 M €	+2.8%	3,7 M €	+33.4%	2,8 M €	+5.6%	2,6 M €	+1.8%	2,6 M €	-1.8%	2,6 M €	-0.1%	2,6 M €	-19.3%	3,2 M €	-3.7%	3,4 M €	-3.0%	3,5 M €	+21.9%	2,8 M €	+14.2%	2,5 M €	+29.2%	1,9 M €	+38.7%	1,4 M €	+2.0%	1,4 M €
Cash	165,2 k €	-77.7%	740,5 k €	+196%	250,3 k €	-69.4%	818 k €	+218%	257,1 k €	-50.9%	523,4 k €	+326%	123 k €	-67.8%	381,5 k €	-19.1%	471,3 k €	+68.1%	280,3 k €	+27.6%	219,8 k €	+267%	59,8 k €	-93.0%	856,8 k €	+62.5%	527,4 k €	-11.7%	597,3 k €	-31.9%	876,4 k €	+5319%	16,2 k €	+527%	2,6 k €	-83.9%	16 k €	+30.8%	12,2 k €
Debts	469 k €	-59.6%	1,2 M €	-20.3%	1,5 M €	-2.8%	1,5 M €	+11.7%	1,3 M €	-7.8%	1,5 M €	-5.0%	1,5 M €	+152%	608,9 k €	-4.4%	637 k €	+6.6%	597,3 k €	-2.4%	612 k €	-6.1%	651,9 k €	-66.0%	1,9 M €	+23.6%	1,6 M €	-15.7%	1,8 M €	+132%	794,4 k €	+49.0%	533,3 k €	+70415%	756,3 €	-99.0%	73,7 k €	+27.4%	57,8 k €
Other
Workforce	–		–		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 16 ended

Active mandates

Christophe Cardoen

Director · since 08 juin 2022

Active

Johan Cardoen

Director · since 08 juin 2022

Active

Sophie Cardoen

Director · since 08 juin 2022

Active

Ended mandates

Christophe Cardoen

Director · since 02 juin 2018

Ended

Johan Cardoen

Managing director · since 02 juin 2018

Ended

Sophie Cardoen

Director · since 02 juin 2018

Ended

Christophe Cardoen

Director · since 02 juin 2012 · until 02 juin 2018

Ended

At this address

Other companies at this address

Company	CBE no.
DevilDoors● Active	0896.034.431
KLOKHOF● Active	0789.748.165

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro 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	09/06/2026	23/06/2025	10/06/2024	08/06/2023	21/06/2022	09/07/2021
General meeting	06/06/2026	21/06/2025	01/06/2024	03/06/2023	04/06/2022	30/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	06/06/2026	09/06/2026	Dutch	PDF
Micro model	31/12/2024	21/06/2025	23/06/2025	Dutch	PDF
Abridged model	31/12/2023	01/06/2024	10/06/2024	Dutch	PDF
Abridged model	31/12/2022	03/06/2023	08/06/2023	Dutch	PDF
Abridged model	31/12/2021	04/06/2022	21/06/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	09/07/2021	Dutch	PDF
Abridged model	31/12/2019	30/06/2020	08/07/2020	Dutch	PDF
Micro model	31/12/2018	22/06/2019	16/07/2019	Dutch	PDF
Micro model	31/12/2017	02/06/2018	02/07/2018	Dutch	PDF
Micro model	31/12/2016	03/06/2017	31/08/2017	Dutch	PDF
Abridged model	31/12/2015	04/06/2016	29/06/2016	Dutch	PDF
Abridged model	31/12/2014	06/06/2015	27/08/2015	Dutch	PDF
Abridged model	31/12/2013	07/06/2014	29/08/2014	Dutch	PDF
Abridged model	31/12/2012	01/06/2013	05/06/2013	Dutch	PDF
Abridged model	31/12/2011	02/06/2012	22/06/2012	Dutch	PDF
Abridged model	31/12/2010	04/06/2011	20/07/2011	Dutch	PDF
Abridged model	31/12/2009	05/06/2010	18/06/2010	Dutch	PDF
Abridged model	31/12/2008	06/06/2009	20/08/2009	Dutch	PDF
Abridged model	31/12/2007	07/06/2008	18/06/2008	Dutch	PDF
Abridged model	31/12/2006	04/06/2007	29/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 · 3 active · 16 ended

Active mandates

Christophe Cardoen

Director · since 08 juin 2022

Active

Johan Cardoen

Director · since 08 juin 2022

Active

Sophie Cardoen

Director · since 08 juin 2022

Active

Ended mandates

Christophe Cardoen

Director · since 02 juin 2018

Ended

Johan Cardoen

Managing director · since 02 juin 2018

Ended

Sophie Cardoen

Director · since 02 juin 2018

Ended

Christophe Cardoen

Director · since 02 juin 2012 · until 02 juin 2018

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates10/06/2022
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/08/2018
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares18/04/2014
KAPITAAL - AANDELEN
PDF
Mandates06/07/2012
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares14/11/2011
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates29/06/2006
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/08/2005
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 2025158,3 k €↓
2024
Annual accounts 2024161,6 k €↓
2023
Annual accounts 2023200,2 k €↑
2022
Annual accounts 2022196,9 k €↑
2021
Annual accounts 2021195,9 k €↑
2020
Annual accounts 2020183,7 k €↑
2019
Annual accounts 2019-3,8 k €↓
2018
Annual accounts 2018176,4 k €↑
2017
Annual accounts 20175,8 k €↑
2016
Annual accounts 2016-25,4 k €↓
2015
Annual accounts 201537,9 k €↓
2014
Annual accounts 201472,2 k €↓
2013
Annual accounts 2013112,3 k €↓
2012
Annual accounts 2012187,7 k €↑
2011
Annual accounts 201176,7 k €↑
2010
Annual accounts 201075,9 k €↑
2009
Annual accounts 200962,3 k €↓
2008
Annual accounts 2008612,6 k €↑
2007
Annual accounts 200711,7 k €↑
2006
Annual accounts 200610 k €
05/12/1992
IncorporationPrivate 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

COELENBERG

Overview

What does COELENBERG do?

Trend over 20 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