ACTIVE

CERDO

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Financial year 2025 · closed on 30/06/2025

Net result

13,1 k €

+1116.1% YoY

Gross margin

349,6 k €

+21.0% YoY

Equity

589,9 k €

-19.4% YoY

Workforce

1,7 ETP

+70.0% YoY

What does CERDO do?

CERDO is a Private limited company incorporated in 1993. Its main activity is: Growing of citrus fruits. Its registered office is in Torhout. It employs on average 1,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0450.656.654

Incorporation

30/07/1993

Legal form

Private limited company

Registered office

Kortemarkstraat 209
8820 Torhout · FlandreSee on map

Contributed capital

6 355,32 €

Latest accounts

30/06/2025

Average workforce

1,7 ETP

Activities (NACE)

01231Growing of citrus fruits· main 41001Construction of buildings 41201Construction of residential and non-residential buildings 43230Electrical, plumbing and other construction installation activities 43291Other construction installation 01461Raising of swine/pigs+1

Joint committees (1)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	349,6 k €	+21.0%	288,9 k €	-5.1%	304,6 k €	+22.7%	248,2 k €	+69.5%	146,5 k €	-44.9%	265,8 k €	-33.4%	398,9 k €	+153%	157,9 k €	-32.3%	233,2 k €	-9.3%	257,3 k €	-23.7%	337,3 k €	+33.1%	253,3 k €	+107%	122,4 k €	+21.8%	100,5 k €	-32.5%	148,8 k €	+1414%	-11,3 k €
EBITDA	228,4 k €	+30.9%	174,5 k €	-28.2%	243 k €	+40.8%	172,6 k €	+49.9%	115,2 k €	-55.7%	259,8 k €	-33.1%	388,5 k €	+155%	152,1 k €	-18.3%	186,1 k €	-9.8%	206,3 k €	-16.2%	246,2 k €	+78.9%	137,6 k €	+22.4%	112,4 k €	+48.2%	75,8 k €	-18.5%	93,1 k €	+818%	-13 k €
Operating result	45,8 k €	-25.9%	61,8 k €	-51.5%	127,4 k €	+32.5%	96,2 k €	+105%	46,9 k €	-75.5%	191,5 k €	-39.7%	317,4 k €	+252%	90,1 k €	-31.5%	131,5 k €	-9.4%	145,1 k €	-24.3%	191,7 k €	+87.9%	102 k €	+24.3%	82,1 k €	+78.2%	46,1 k €	-28.7%	64,6 k €	+289%	-34,2 k €
Net result	13,1 k €	+1116%	1,1 k €	-98.9%	99,5 k €	+36.3%	73 k €	+78.9%	40,8 k €	-76.3%	171,8 k €	-35.9%	268,1 k €	+391%	54,6 k €	-35.7%	84,9 k €	-6.9%	91,1 k €	-25.1%	121,6 k €	+70.2%	71,5 k €	-3.5%	74 k €	+218%	23,3 k €	-61.3%	60,2 k €	+255%	-38,7 k €
Balance sheet
Equity	589,9 k €	-19.4%	731,8 k €	+0.1%	730,7 k €	+15.8%	631,2 k €	+28.9%	489,8 k €	+0.2%	489 k €	+4.7%	467,2 k €	+4.0%	449,1 k €	+13.8%	394,5 k €	+19.3%	330,6 k €	+38.1%	239,5 k €	+103%	117,8 k €	+154%	46,4 k €	+395%	-15,7 k €	+59.7%	-39 k €	+60.7%	-99,1 k €
Total assets	1,9 M €	+3.8%	1,8 M €	-9.7%	2 M €	+30.9%	1,5 M €	+76.1%	856,3 k €	-25.4%	1,1 M €	+20.2%	954,7 k €	-2.9%	983,1 k €	+16.4%	844,8 k €	-19.7%	1,1 M €	+27.8%	823,1 k €	+65.8%	496,5 k €	+56.2%	317,9 k €	-1.8%	323,9 k €	+8.2%	299,2 k €	+32.4%	226 k €
Cash	9,3 k €	+141%	3,8 k €	+3890%	96,3 €	-99.6%	22,5 k €	-72.8%	82,6 k €	-38.3%	133,9 k €	+311%	32,6 k €	-22.4%	42 k €	+154%	16,5 k €	+204%	5,4 k €	-86.0%	38,8 k €	-65.4%	112,2 k €	+66.2%	67,5 k €	+330%	15,7 k €	+103%	7,7 k €	+3342%	224 €
Debts	1,3 M €	+19.7%	1,1 M €	-15.5%	1,2 M €	+41.8%	876,7 k €	+139%	366,2 k €	-44.4%	658,4 k €	+35.5%	485,8 k €	-8.4%	530,4 k €	+19.7%	443 k €	-37.9%	713,6 k €	+24.1%	574,8 k €	+51.8%	378,7 k €	+39.5%	271,6 k €	-20.0%	339,6 k €	+0.4%	338,2 k €	+4.0%	325,1 k €
Other
Workforce	1,7 ETP	+70.0%	1,0 ETP	0.0%	1,0 ETP	-50.0%	2,0 ETP	+400%	0,4 ETP		–		–		–		0,5 ETP	-28.6%	0,7 ETP	-65.0%	2,0 ETP	-13.0%	2,3 ETP	+2200%	0,1 ETP	-75.0%	0,4 ETP	-71.4%	1,4 ETP		–

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 1 active · 10 ended

Active mandates

Torvarko

Director · since 01 juin 2016 · 0406.852.048

Represented by Pauwels LEEN

Active

Ended mandates

Torvarko

Director · since 01 juin 2016 · until 01 janvier 2999 · 0406.852.048

Represented by Pauwels LEEN

Ended

Torvarko

Manager · since 01 mai 2016 · 0406.852.048

Represented by Leen Pauwels

Ended

Christoph VUYLSTEKE

Manager · until 01 mai 2016

Ended

Christoph VUYLSTEKE

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
Torvarko● Active	0406.852.048

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	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	29/01/2026	31/01/2025	31/01/2024	31/01/2023	28/01/2022	01/02/2021
General meeting	30/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	30/12/2025	29/01/2026	Dutch	PDF
Abridged model	30/06/2024	31/12/2024	31/01/2025	Dutch	PDF
Abridged model	30/06/2023	31/12/2023	31/01/2024	Dutch	PDF
Abridged model	30/06/2022	31/12/2022	31/01/2023	Dutch	PDF
Abridged model	30/06/2021	31/12/2021	28/01/2022	Dutch	PDF
Abridged model	30/06/2020	31/12/2020	01/02/2021	Dutch	PDF
Abridged model	30/06/2019	31/12/2019	15/01/2020	Dutch	PDF
Abridged model	30/06/2018	31/12/2018	16/01/2019	Dutch	PDF
Abridged model	30/06/2017	05/01/2018	11/01/2018	Dutch	PDF
Abridged model	30/06/2016	20/12/2016	16/01/2017	Dutch	PDF
Abridged model	30/06/2015	29/12/2015	15/01/2016	Dutch	PDF
Abridged model	30/06/2014	29/12/2014	29/01/2015	Dutch	PDF
Abridged model	30/06/2013	26/11/2013	26/12/2013	Dutch	PDF
Abridged model	30/06/2012	27/11/2012	07/01/2013	Dutch	PDF
Abridged model	30/06/2011	22/11/2011	29/12/2011	Dutch	PDF
Abridged model	30/06/2010	23/11/2010	25/01/2011	Dutch	PDF
Abridged model	30/06/2009	24/11/2009	08/12/2009	Dutch	PDF
Abridged model	30/06/2008	25/11/2008	25/11/2008	Dutch	PDF
Abridged model	30/06/2007	27/11/2007	29/11/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 30/06/2025 · 1 active · 10 ended

Active mandates

Torvarko

Director · since 01 juin 2016 · 0406.852.048

Represented by Pauwels LEEN

Active

Ended mandates

Torvarko

Director · since 01 juin 2016 · until 01 janvier 2999 · 0406.852.048

Represented by Pauwels LEEN

Ended

Torvarko

Manager · since 01 mai 2016 · 0406.852.048

Represented by Leen Pauwels

Ended

Christoph VUYLSTEKE

Manager · until 01 mai 2016

Ended

Christoph VUYLSTEKE

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates04/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/07/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/09/2007
ONTSLAGEN - BENOEMINGEN - DOEL - ALGEMENE VERGADERING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates13/04/2004
ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 202513,1 k €↑
2024
Annual accounts 20241,1 k €↓
2023
Annual accounts 202399,5 k €↑
2022
Annual accounts 202273 k €↑
2018
Annual accounts 201840,8 k €↓
2017
Annual accounts 2017171,8 k €↓
2016
Annual accounts 2016268,1 k €↑
2015
Annual accounts 201554,6 k €↓
2014
Annual accounts 201484,9 k €↓
2013
Annual accounts 201391,1 k €↓
2012
Annual accounts 2012121,6 k €↑
2011
Annual accounts 201171,5 k €↓
2010
Annual accounts 201074 k €↑
2009
Annual accounts 200923,3 k €↓
2008
Annual accounts 200860,2 k €↑
2007
Annual accounts 2007-38,7 k €
30/07/1993
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

CERDO

Overview

What does CERDO do?

Trend over 16 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