ACTIVE

DUVAN

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Financial year 2025 · closed on 31/12/2025

Net result

409,1 k €

+155.2% YoY

Gross margin

670,4 k €

+94.9% YoY

Equity

2,4 M €

+20.5% YoY

What does DUVAN do?

DUVAN is a Public limited company incorporated in 1993. Its main activity is: Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores. Its registered office is in Huldenberg.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0449.568.967

Incorporation

04/03/1993

Legal form

Public limited company

Registered office

Gemeenteplein 4 box 7
3040 Huldenberg · FlandreSee on map

Contributed capital

1 366 100,00 €

Latest accounts

31/12/2025

Activities (NACE)

47241Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores· main 47241Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores 52240Cargo handling 47221Retail sale of meat and meat products in specialised stores 47221Retail sale of meat and meat products in specialised stores 52220Service activities incidental to water transportation+3

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	670,4 k €	+94.9%	344 k €	-43.0%	603,5 k €	+24.7%	484,1 k €	+229%	147,1 k €	-9.5%	162,5 k €	-29.7%	231,3 k €	+12.2%	206,1 k €	-0.2%	206,4 k €	+34.3%	153,6 k €	-12.9%	176,5 k €	-6.2%	188,2 k €	+4.3%	180,4 k €	-57.4%	423,1 k €	+137%	178,6 k €	-23.3%	232,8 k €	+14.1%	204,1 k €	+27.7%	159,8 k €	+8.3%	147,6 k €
EBITDA	635,7 k €	+105%	310,7 k €	-44.4%	558,6 k €	+24.1%	450 k €	+281%	118,1 k €	+1.5%	116,3 k €	-42.3%	201,6 k €	+10.7%	182,2 k €	-0.3%	182,7 k €	+41.0%	129,6 k €	-15.7%	153,6 k €	-5.9%	163,2 k €	+6.9%	152,7 k €	-61.9%	400,9 k €	+156%	156,8 k €	-25.7%	211,1 k €	+14.9%	183,7 k €	+30.3%	141 k €	+10.3%	127,8 k €
Operating result	573,2 k €	+149%	230,2 k €	-49.7%	457,9 k €	+42.3%	321,8 k €	+450%	-91,8 k €	-164%	-34,8 k €	-141%	85,7 k €	+31.4%	65,2 k €	+79.7%	36,3 k €	+24.4%	29,2 k €	-46.6%	54,6 k €	-21.5%	69,5 k €	+12.1%	62 k €	-79.9%	308,4 k €	+480%	53,2 k €	-51.8%	110,3 k €	+35.9%	81,2 k €	+3164%	-2,7 k €	+75.4%	-10,8 k €
Net result	409,1 k €	+155%	160,3 k €	-48.4%	310,4 k €	+8.3%	286,7 k €	+413%	-91,7 k €	-26.6%	-72,4 k €	-281%	40,1 k €	+63.5%	24,5 k €	+20.9%	20,3 k €	+9.8%	18,5 k €	-50.0%	37 k €	-21.1%	46,9 k €	-4.5%	49 k €	-80.0%	244,9 k €	+1055%	-25,6 k €	-170%	36,6 k €	+1558%	-2,5 k €	+96.3%	-67,4 k €	-182%	-23,9 k €
Balance sheet
Equity	2,4 M €	+20.5%	2 M €	+3.5%	1,9 M €	+8.4%	1,8 M €	+19.2%	1,5 M €	-9.7%	1,7 M €	-4.2%	1,7 M €	+2.4%	1,7 M €	+1.5%	1,7 M €	+1.2%	1,6 M €	+1.1%	1,6 M €	+2.3%	1,6 M €	-1.0%	1,6 M €	+3.2%	1,6 M €	+18.7%	1,3 M €	-1.9%	1,3 M €	+2.8%	1,3 M €	-0.2%	1,3 M €	-4.9%	1,4 M €
Total assets	2,5 M €	+17.8%	2,1 M €	+4.1%	2 M €	-5.7%	2,1 M €	-21.5%	2,7 M €	+7.6%	2,5 M €	-2.2%	2,6 M €	+2.4%	2,5 M €	+1.1%	2,5 M €	+1.8%	2,5 M €	-2.9%	2,5 M €	+2.0%	2,5 M €	+0.1%	2,5 M €	-15.9%	2,9 M €	-1.2%	3 M €	+1.7%	2,9 M €	+4.6%	2,8 M €	-18.1%	3,4 M €	+0.0%	3,4 M €
Cash	5,6 k €	-88.8%	50,3 k €	-91.6%	598 k €	+286%	155 k €	-50.8%	315,2 k €	+29.7%	243,1 k €	-45.6%	447,2 k €	+46.0%	306,4 k €	+42.2%	215,5 k €	-16.8%	259 k €	-12.0%	294,2 k €	+111%	139,6 k €	+45.8%	95,8 k €	-78.1%	436,5 k €	-33.2%	653,2 k €	+16.3%	561,5 k €	+74.2%	322,4 k €	-62.3%	856,1 k €	+18.4%	723,1 k €
Debts	60,3 k €	-32.0%	88,7 k €	+20.3%	73,7 k €	-78.5%	343,5 k €	-71.7%	1,2 M €	+41.8%	854,8 k €	+5.0%	813,8 k €	+3.9%	783 k €	-4.1%	816,7 k €	+3.2%	791,4 k €	-8.5%	865,1 k €	+1.8%	849,8 k €	+4.2%	815,6 k €	-40.3%	1,4 M €	-12.9%	1,6 M €	+5.0%	1,5 M €	+8.0%	1,4 M €	-31.3%	2 M €	+3.5%	1,9 M €

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 · 1 active · 8 ended

Active mandates

FREDERIK DUCHENE

Director · since 04 juin 2022 · until 04 juin 2028

Active

Ended mandates

PAULA VANDERLINDEN

Managing director · since 04 juin 2022 · until 04 juin 2028

Ended

FREDERIK DUCHENE

Director · since 05 juin 2016 · until 05 juin 2022

Ended

PAULA VANDERLINDEN

Director · since 05 juin 2016 · until 05 juin 2022

Ended

PAULA VANDERLINDEN

Managing director · since 05 juin 2016 · until 05 juin 2022

Ended

Annual accounts

Full financial information

	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	08/06/2026	10/06/2025	03/06/2024	05/06/2023	30/06/2022	18/06/2021
General meeting	06/06/2026	07/06/2025	01/06/2024	03/06/2023	04/06/2022	05/06/2021
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	08/06/2026	Dutch	PDF
Micro model	31/12/2024	07/06/2025	10/06/2025	Dutch	PDF
Micro model	31/12/2023	01/06/2024	03/06/2024	Dutch	PDF
Micro model	31/12/2022	03/06/2023	05/06/2023	Dutch	PDF
Micro model	31/12/2021	04/06/2022	30/06/2022	Dutch	PDF
Micro model	31/12/2020	05/06/2021	18/06/2021	Dutch	PDF
Micro model	31/12/2019	06/06/2020	15/06/2020	Dutch	PDF
Micro model	31/12/2018	01/06/2019	04/06/2019	Dutch	PDF
Micro model	31/12/2017	02/06/2018	28/06/2018	Dutch	PDF
Micro model	31/12/2016	03/06/2017	11/07/2017	Dutch	PDF
Abridged model	31/12/2015	04/06/2016	30/06/2016	Dutch	PDF
Abridged model	31/12/2014	06/06/2015	30/06/2015	Dutch	PDF
Abridged model	31/12/2013	06/06/2014	30/06/2014	Dutch	PDF
Abridged model	31/12/2012	01/06/2013	28/06/2013	Dutch	PDF
Abridged model	31/12/2011	02/06/2012	27/06/2012	Dutch	PDF
Abridged model	31/12/2010	04/06/2011	12/07/2011	Dutch	PDF
Abridged model	31/12/2009	05/06/2010	28/07/2010	Dutch	PDF
Abridged model	31/12/2008	06/06/2009	03/08/2009	Dutch	PDF
Abridged model	31/12/2007	07/06/2008	10/07/2008	Dutch	PDF
Abridged model	31/12/2006	02/06/2007	26/06/2007	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 · 1 active · 8 ended

Active mandates

FREDERIK DUCHENE

Director · since 04 juin 2022 · until 04 juin 2028

Active

Ended mandates

PAULA VANDERLINDEN

Managing director · since 04 juin 2022 · until 04 juin 2028

Ended

FREDERIK DUCHENE

Director · since 05 juin 2016 · until 05 juin 2022

Ended

PAULA VANDERLINDEN

Director · since 05 juin 2016 · until 05 juin 2022

Ended

PAULA VANDERLINDEN

Managing director · since 05 juin 2016 · until 05 juin 2022

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Capital / shares10/06/2026
KAPITAAL - AANDELEN
PDF
Other16/11/2022
ALGEMENE VERGADERING
PDF
Mandates23/08/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/12/2016
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares14/04/2014
KAPITAAL - AANDELEN
PDF
Capital / shares09/03/2012
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates25/02/2011
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/03/2005
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 2025409,1 k €↑
2024
Annual accounts 2024160,3 k €↓
2023
Annual accounts 2023310,4 k €↑
2022
Annual accounts 2022286,7 k €↑
2021
Annual accounts 2021-91,7 k €↓
2019
Annual accounts 2019-72,4 k €↓
2018
Annual accounts 201840,1 k €↑
2017
Annual accounts 201724,5 k €↑
2016
Annual accounts 201620,3 k €↑
2015
Annual accounts 201518,5 k €↓
2014
Annual accounts 201437 k €↓
2013
Annual accounts 201346,9 k €↓
2012
Annual accounts 201249 k €↓
2011
Annual accounts 2011244,9 k €↑
2010
Annual accounts 2010-25,6 k €↓
2009
Annual accounts 200936,6 k €↑
2008
Annual accounts 2008-2,5 k €↑
2007
Annual accounts 2007-67,4 k €↓
2006
Annual accounts 2006-23,9 k €
04/03/1993
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

DUVAN

Overview

What does DUVAN 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