ACTIVE

GHIORDES

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Financial year 2025 · closed on 31/12/2025

Net result

61,5 k €

-25.8% YoY

Gross margin

111,3 k €

+10.0% YoY

Equity

601,5 k €

+11.4% YoY

Workforce

0,0 ETP

What does GHIORDES do?

GHIORDES is a Public limited company incorporated in 1993. Its registered office is in Sint-Martens-Latem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0450.622.804

Incorporation

27/07/1993

Legal form

Public limited company

Registered office

Xavier De Cocklaan 36
9831 Sint-Martens-Latem · FlandreSee on map

Contributed capital

420 000,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	111,3 k €	+10.0%	101,1 k €	-1.9%	103,1 k €	+15.8%	89 k €	+8.4%	82,1 k €	+21.0%	67,9 k €	+1.2%	67,1 k €	-18.5%	82,3 k €	-6.1%	87,6 k €	+5.7%	83 k €	-1.4%	84,1 k €	+10.2%	76,3 k €	+13.8%	67,1 k €	+2.4%	65,6 k €	+1.6%	64,5 k €	+3.4%	62,4 k €	+1.2%	61,6 k €	+11.1%	55,5 k €	-6.2%	59,1 k €
EBITDA	101,1 k €	+0.8%	100,3 k €	+1.5%	98,8 k €	+19.0%	83,1 k €	+6.6%	77,9 k €	+24.0%	62,8 k €	+0.5%	62,5 k €	-19.5%	77,7 k €	-6.5%	83,1 k €	+5.9%	78,4 k €	-1.2%	79,4 k €	+11.5%	71,2 k €	+13.8%	62,6 k €	+6.8%	58,6 k €	-2.9%	60,4 k €	+4.0%	58 k €	+0.4%	57,8 k €	+10.8%	52,2 k €	-7.1%	56,2 k €
Operating result	83,7 k €	+0.9%	83 k €	+1.8%	81,5 k €	+24.0%	65,8 k €	+8.5%	60,6 k €	+33.1%	45,5 k €	+0.7%	45,2 k €	-25.1%	60,4 k €	-8.2%	65,7 k €	+7.6%	61,1 k €	-1.6%	62,1 k €	+15.2%	53,9 k €	+19.1%	45,3 k €	+9.6%	41,3 k €	-4.1%	43 k €	+5.7%	40,7 k €	+0.5%	40,5 k €	+16.2%	34,8 k €	+130%	15,2 k €
Net result	61,5 k €	-25.8%	83 k €	+1.9%	81,4 k €	+24.2%	65,6 k €	+8.6%	60,4 k €	+33.2%	45,3 k €	+0.7%	45 k €	-25.4%	60,4 k €	-7.9%	65,6 k €	+7.8%	60,8 k €	-2.1%	62,1 k €	+15.8%	53,6 k €	+18.9%	45,1 k €	+9.6%	41,2 k €	-4.1%	42,9 k €	+5.8%	40,6 k €	+0.5%	40,4 k €	+46.0%	27,7 k €	+82.9%	15,1 k €
Balance sheet
Equity	601,5 k €	+11.4%	540 k €	+18.1%	457,1 k €	+21.7%	375,6 k €	+21.1%	310,1 k €	+24.2%	249,7 k €	+22.2%	204,3 k €	+28.3%	159,3 k €	-80.1%	798,9 k €	+8.9%	733,4 k €	+9.0%	672,6 k €	+10.2%	610,5 k €	+9.6%	556,9 k €	+8.8%	511,7 k €	+8.7%	470,6 k €	+10.0%	427,7 k €	+10.5%	387,1 k €	+11.6%	346,7 k €	+151%	-677 k €
Total assets	692,4 k €	-2.4%	709,1 k €	-1.9%	722,9 k €	-2.6%	742,5 k €	-1.9%	756,9 k €	-2.4%	775,1 k €	-2.8%	797,7 k €	-2.6%	819,4 k €	-0.9%	826,9 k €	-2.2%	845,8 k €	-1.9%	862 k €	-1.8%	878,1 k €	-2.0%	896,1 k €	-1.5%	909,7 k €	-1.9%	927,5 k €	-2.3%	949,6 k €	-1.3%	962,5 k €	-1.9%	981,2 k €	+12760%	7,6 k €
Cash	6,4 k €	+564%	965,6 €	+39.9%	690,3 €	-52.1%	1,4 k €	+2703%	51,5 €	-94.6%	946,6 €	-81.3%	5,1 k €	-46.8%	9,5 k €	+1173%	745,3 €	-43.3%	1,3 k €	+480%	226,5 €	+939%	21,8 €	-96.8%	677,3 €	+170%	250,6 €	-67.6%	772,3 €	-83.4%	4,7 k €	+314%	1,1 k €	-53.7%	2,4 k €	+338%	554,2 €
Debts	89,9 k €	-46.7%	168,6 k €	-36.5%	265,3 k €	-27.6%	366,3 k €	-17.9%	446,3 k €	-15.0%	525 k €	-11.5%	592,9 k €	-10.1%	659,6 k €	+2303%	27,4 k €	-75.5%	111,9 k €	-40.8%	188,9 k €	-29.4%	267,6 k €	-20.8%	337,8 k €	-14.8%	396,4 k €	-13.0%	455,4 k €	-12.5%	520,4 k €	-9.6%	575,4 k €	-9.3%	634,4 k €	-7.3%	684,6 k €
Other
Workforce	0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 10 ended

Active mandates

GO.MAN

Director · since 16 septembre 2025 · until 13 mai 2031 · 0829.092.454

Represented by Godefroot Peter

Active

LOGO BIKE

Director · since 16 septembre 2025 · until 13 mai 2031 · 0829.091.860

Represented by Godefroot Christophe

Active

Ended mandates

Jacques Van Eyck

Managing director · since 10 mai 2022 · until 10 mai 2028

Ended

Arlette Van der Stallen

Director · since 14 mai 2019 · until 13 mai 2025

Ended

Jacques Van Eyck

Managing director · since 10 mai 2016 · until 10 mai 2022

Ended

Arlette (AV 2019) Van der Stallen

Director · since 01 juillet 2013 · until 01 juillet 2019

Ended

At this address

Other companies at this address

Company	CBE no.
GODEFROOT● Active	0420.238.939
GO.SP.(Godefroot Sport)● Active	0885.701.951
Wielertoeristenclub Walter Godefroot vzw● Active	0894.889.930

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	07/07/2026	08/07/2025	14/05/2024	23/05/2023	24/05/2022	12/05/2021
General meeting	06/07/2026	13/05/2025	14/05/2024	09/05/2023	10/05/2022	11/05/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	06/07/2026	07/07/2026	Dutch	PDF
Abridged model	31/12/2024	13/05/2025	08/07/2025	Dutch	PDF
Abridged model	31/12/2023	14/05/2024	14/05/2024	Dutch	PDF
Abridged model	31/12/2022	09/05/2023	23/05/2023	Dutch	PDF
Abridged model	31/12/2021	10/05/2022	24/05/2022	Dutch	PDF
Abridged model	31/12/2020	11/05/2021	12/05/2021	Dutch	PDF
Abridged model	31/12/2019	12/05/2020	19/05/2020	Dutch	PDF
Abridged model	31/12/2018	14/05/2019	23/05/2019	Dutch	PDF
Abridged model	31/12/2017	08/05/2018	14/05/2018	Dutch	PDF
Abridged model	31/12/2016	09/05/2017	10/05/2017	Dutch	PDF
Abridged model	31/12/2015	10/05/2016	12/05/2016	Dutch	PDF
Abridged model	31/12/2014	12/05/2015	19/05/2015	Dutch	PDF
Abridged model	31/12/2013	13/05/2014	14/05/2014	Dutch	PDF
Abridged model	31/12/2012	14/05/2013	16/05/2013	Dutch	PDF
Abridged model	31/12/2011	08/05/2012	10/05/2012	Dutch	PDF
Abridged model	31/12/2010	10/05/2011	17/05/2011	Dutch	PDF
Abridged model	31/12/2009	11/05/2010	12/05/2010	Dutch	PDF
Abridged model	31/12/2008	12/05/2009	12/05/2009	Dutch	PDF
Abridged model	31/12/2007	13/05/2008	29/05/2008	Dutch	PDF
Abridged model	31/12/2006	29/06/2007	30/07/2007	Dutch	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 10 ended

Active mandates

GO.MAN

Director · since 16 septembre 2025 · until 13 mai 2031 · 0829.092.454

Represented by Godefroot Peter

Active

LOGO BIKE

Director · since 16 septembre 2025 · until 13 mai 2031 · 0829.091.860

Represented by Godefroot Christophe

Active

Ended mandates

Jacques Van Eyck

Managing director · since 10 mai 2022 · until 10 mai 2028

Ended

Arlette Van der Stallen

Director · since 14 mai 2019 · until 13 mai 2025

Ended

Jacques Van Eyck

Managing director · since 10 mai 2016 · until 10 mai 2022

Ended

Arlette (AV 2019) Van der Stallen

Director · since 01 juillet 2013 · until 01 juillet 2019

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/10/2025
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/05/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/11/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/06/2020
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares10/09/2018
KAPITAAL - AANDELEN
PDF
Registered office25/01/2018
MAATSCHAPPELIJKE ZETEL
PDF
Mandates01/08/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/09/2013
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 202561,5 k €↓
2024
Annual accounts 202483 k €↑
2023
Annual accounts 202381,4 k €↑
2022
Annual accounts 202265,6 k €↑
2021
Annual accounts 202160,4 k €↑
2020
Annual accounts 202045,3 k €↑
2019
Annual accounts 201945 k €↓
2018
Annual accounts 201860,4 k €↓
2017
Annual accounts 201765,6 k €↑
2016
Annual accounts 201660,8 k €↓
2015
Annual accounts 201562,1 k €↑
2014
Annual accounts 201453,6 k €↑
2013
Annual accounts 201345,1 k €↑
2012
Annual accounts 201241,2 k €↓
2011
Annual accounts 201142,9 k €↑
2010
Annual accounts 201040,6 k €↑
2009
Annual accounts 200940,4 k €↑
2008
Annual accounts 200827,7 k €↑
2007
Annual accounts 200715,1 k €
27/07/1993
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

GHIORDES

Overview

What does GHIORDES do?

Trend over 19 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