ACTIVE

CONDES

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

201,9 k €

-27.9% YoY

Gross margin

635,1 k €

-14.3% YoY

Equity

1,1 M €

+16.7% YoY

Workforce

5,0 ETP

0.0% YoY

What does CONDES do?

CONDES is a Public limited company incorporated in 1994. Its registered office is in Tienen. It employs on average 5,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0452.475.801

Incorporation

15/04/1994

Legal form

Public limited company

Registered office

Wulmersumsesteenweg 151 box 2
3300 Tienen · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

5,0 ETP

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	635,1 k €	-14.3%	741,1 k €	+39.1%	532,6 k €	-4.8%	559,7 k €	+29.3%	432,8 k €	-11.9%	491,1 k €	+18.3%	415,2 k €	-15.4%	490,6 k €	+10.9%	442,6 k €	+5.7%	418,8 k €	-0.1%	419,2 k €	-1.8%	426,7 k €	+25.5%	339,9 k €	+30.7%	260,1 k €	-6.9%	279,5 k €	+14.3%	244,5 k €	-22.3%	314,8 k €	+4.4%	301,4 k €	+11.5%	270,2 k €	+62.9%	165,9 k €
EBITDA	284,1 k €	-26.1%	384,5 k €	+37.1%	280,5 k €	+26.2%	222,3 k €	+84.3%	120,6 k €	-33.0%	180,1 k €	+59.6%	112,8 k €	-48.6%	219,5 k €	+19.6%	183,5 k €	+13.0%	162,5 k €	+1.6%	160 k €	+9.4%	146,3 k €	+64.0%	89,2 k €	+33.9%	66,6 k €	-26.2%	90,2 k €	+91.3%	47,2 k €	-57.7%	111,4 k €	+33.5%	83,5 k €	+30.2%	64,1 k €	+80.2%	35,6 k €
Operating result	255,9 k €	-29.0%	360,5 k €	+36.9%	263,4 k €	+36.9%	192,4 k €	+99.6%	96,4 k €	-37.7%	154,7 k €	+109%	74 k €	-55.2%	165,1 k €	+16.9%	141,2 k €	+14.8%	123 k €	+6.6%	115,4 k €	+6.3%	108,6 k €	+70.2%	63,8 k €	+97.3%	32,3 k €	-34.5%	49,4 k €	+254%	14 k €	-83.5%	84,5 k €	+35.9%	62,2 k €	+18.9%	52,3 k €	+113%	24,5 k €
Net result	201,9 k €	-27.9%	279,8 k €	+39.0%	201,3 k €	+38.4%	145,5 k €	+105%	70,9 k €	-33.2%	106,1 k €	+132%	45,7 k €	-57.6%	107,6 k €	+28.6%	83,7 k €	+19.7%	69,9 k €	+1.0%	69,2 k €	-6.5%	74 k €	+133%	31,8 k €	+32.2%	24 k €	-21.7%	30,7 k €	+308%	7,5 k €	-86.7%	56,4 k €	+53.1%	36,9 k €	+10.3%	33,4 k €	+74.6%	19,2 k €
Balance sheet
Equity	1,1 M €	+16.7%	936,9 k €	+22.5%	764,7 k €	-15.0%	899,6 k €	+19.3%	754,1 k €	+10.4%	683,2 k €	+18.4%	577,1 k €	+8.6%	531,4 k €	-13.3%	612,8 k €	+15.8%	529,2 k €	+15.2%	459,3 k €	+17.7%	390,1 k €	+23.4%	316,2 k €	+3.5%	305,4 k €	+8.5%	281,4 k €	+12.3%	250,6 k €	+3.1%	243,1 k €	+30.2%	186,7 k €	+24.6%	149,8 k €	+28.7%	116,4 k €
Total assets	1,3 M €	+6.7%	1,2 M €	+1.8%	1,2 M €	+15.3%	1 M €	+23.8%	807,8 k €	+7.1%	754,3 k €	+10.2%	684,4 k €	-1.3%	693,5 k €	-10.5%	774,9 k €	-1.0%	782,5 k €	+7.8%	725,7 k €	+19.5%	607,3 k €	-2.5%	623 k €	+15.9%	537,5 k €	+4.5%	514,2 k €	+4.3%	493,2 k €	-3.0%	508,6 k €	+5.4%	482,5 k €	+21.2%	398 k €	+5.7%	376,6 k €
Cash	374,2 k €	-16.5%	448,3 k €	-20.7%	565 k €	-10.5%	631,4 k €	+22.6%	514,8 k €	-1.5%	522,6 k €	+77.2%	294,9 k €	-14.4%	344,4 k €	-29.7%	489,9 k €	+18.1%	414,9 k €	+3.5%	400,9 k €	+33.8%	299,7 k €	-12.8%	343,6 k €	+74.6%	196,8 k €	+70.9%	115,2 k €	-19.1%	142,3 k €	-7.6%	153,9 k €	+9.7%	140,3 k €	+190%	48,4 k €	-48.3%	93,8 k €
Debts	159,2 k €	-32.7%	236,7 k €	-39.1%	388,3 k €	+286%	100,6 k €	+87.4%	53,7 k €	-24.5%	71,1 k €	-33.7%	107,1 k €	-33.9%	162 k €	-0.0%	162,1 k €	-36.0%	253,3 k €	-4.9%	266,4 k €	+22.7%	217,1 k €	-29.2%	306,8 k €	+32.2%	232,1 k €	-0.3%	232,9 k €	-4.0%	242,6 k €	-8.6%	265,5 k €	-10.2%	295,8 k €	+19.2%	248,2 k €	-4.6%	260,2 k €
Other
Workforce	5,0 ETP	0.0%	5,0 ETP	0.0%	5,0 ETP	0.0%	5,0 ETP	0.0%	5,0 ETP	0.0%	5,0 ETP	-3.8%	5,2 ETP	-1.9%	5,3 ETP	+6.0%	5,0 ETP	-16.7%	6,0 ETP	0.0%	6,0 ETP	-4.8%	6,3 ETP	+6.8%	5,9 ETP	+20.4%	4,9 ETP	-2.0%	5,0 ETP	-2.0%	5,1 ETP	-3.8%	5,3 ETP	+10.4%	4,8 ETP	-11.1%	5,4 ETP	+63.6%	3,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 6 ended

Active mandates

Eddy Frans Alen

Director · since 01 septembre 2006 · until 31 août 2024

Active

Kurt Holemans

Mandate

Active

Ended mandates

Joseph Theophile Verhulpen

Director · since 01 septembre 2018 · until 31 août 2024

Ended

Diederik Reynaerts

Director · since 01 septembre 2006 · until 31 août 2012

Ended

Diederik Reynaerts

Director · since 01 septembre 2006 · until 31 août 2018

Ended

Eddy Alen

Director · since 01 septembre 2006 · until 31 août 2012

Ended

Annual accounts

Full financial information

	2025	2024	2023	2023	2022	2021
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	01/04/2023	01/04/2022	01/04/2021	01/04/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/03/2023	31/03/2022	31/03/2021
Length of the financial year	12 months	12 months	9 months	12 months	12 months	12 months
Filing date	26/05/2026	27/05/2025	12/06/2024	30/08/2023	02/09/2022	23/08/2021
General meeting	25/05/2026	26/05/2025	03/06/2024	14/08/2023	31/08/2022	09/08/2021
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

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	25/05/2026	26/05/2026	Dutch	PDF
Abridged model	31/12/2024	26/05/2025	27/05/2025	Dutch	PDF
Abridged model	31/12/2023	03/06/2024	12/06/2024	Dutch	PDF
Abridged model	31/03/2023	14/08/2023	30/08/2023	Dutch	PDF
Abridged model	31/03/2022	31/08/2022	02/09/2022	Dutch	PDF
Abridged model	31/03/2021	09/08/2021	23/08/2021	Dutch	PDF
Abridged model	31/03/2020	25/08/2020	28/08/2020	Dutch	PDF
Abridged model	31/03/2019	28/08/2019	06/09/2019	Dutch	PDF
Abridged model	31/03/2018	05/09/2018	12/09/2018	Dutch	PDF
Abridged model	31/03/2017	29/08/2017	11/09/2017	Dutch	PDF
Abridged model	31/03/2016	22/08/2016	30/08/2016	Dutch	PDF
Abridged model	31/03/2015	09/09/2015	15/09/2015	Dutch	PDF
Abridged model	31/03/2014	10/09/2014	11/09/2014	Dutch	PDF
Abridged model	31/03/2013	29/08/2013	20/09/2013	Dutch	PDF
Abridged model	31/03/2012	27/08/2012	07/09/2012	Dutch	PDF
Abridged model	31/03/2011	31/08/2011	07/09/2011	Dutch	PDF
Abridged model	31/03/2010	08/09/2010	20/09/2010	Dutch	PDF
Abridged model	31/03/2009	28/08/2009	31/08/2009	Dutch	PDF
Abridged model	31/03/2008	20/08/2008	21/08/2008	Dutch	PDF
Abridged model	31/03/2007	27/08/2007	05/09/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 2 active · 6 ended

Active mandates

Eddy Frans Alen

Director · since 01 septembre 2006 · until 31 août 2024

Active

Kurt Holemans

Mandate

Active

Ended mandates

Joseph Theophile Verhulpen

Director · since 01 septembre 2018 · until 31 août 2024

Ended

Diederik Reynaerts

Director · since 01 septembre 2006 · until 31 août 2012

Ended

Diederik Reynaerts

Director · since 01 septembre 2006 · until 31 août 2018

Ended

Eddy Alen

Director · since 01 septembre 2006 · until 31 août 2012

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other23/10/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates03/05/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/02/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/09/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/10/2018
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares14/01/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates31/12/2012
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/12/2006
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 2025201,9 k €↓
2024
Annual accounts 2024279,8 k €↑
2023
Annual accounts 2023201,3 k €↑
2023
Annual accounts 2023145,5 k €↑
2022
Annual accounts 202270,9 k €↓
2021
Annual accounts 2021106,1 k €↑
2020
Annual accounts 202045,7 k €↓
2019
Annual accounts 2019107,6 k €↑
2018
Annual accounts 201883,7 k €↑
2017
Annual accounts 201769,9 k €↑
2016
Annual accounts 201669,2 k €↓
2015
Annual accounts 201574 k €↑
2014
Annual accounts 201431,8 k €↑
2013
Annual accounts 201324 k €↓
2012
Annual accounts 201230,7 k €↑
2011
Annual accounts 20117,5 k €↓
2010
Annual accounts 201056,4 k €↑
2009
Annual accounts 200936,9 k €↑
2008
Annual accounts 200833,4 k €↑
2007
Annual accounts 200719,2 k €
15/04/1994
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

CONDES

Overview

What does CONDES do?

Trend over 20 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