ACTIVE

GEMBLUE

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Financial year 2025 · closed on 31/12/2025

Net result

-17,1 k €

-149.3% YoY

Revenue

43,4 M €

-24.3% YoY

Equity

28,3 M €

-0.1% YoY

Workforce

1,0 ETP

0.0% YoY

What does GEMBLUE do?

GEMBLUE is a Private limited company incorporated in 1994. Its main activity is: Wholesale of other intermediate products. Its registered office is in Antwerpen. It employs on average 1,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0453.084.327

Incorporation

26/07/1994

Legal form

Private limited company

Registered office

Hoveniersstraat 30 box 135
2018 Antwerpen · FlandreSee on map

Contributed capital

24 900 000,00 €

Latest accounts

31/12/2025

Average workforce

1,0 ETP

Activities (NACE)

46761Wholesale of other intermediate products· main 46861Wholesale trade, except of motor vehicles and motorcycles 51561Air transport

Joint committees (1)

Signals

Solid equityLow riskGood liquidityPositive cashflowHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2020		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Revenue	43,4 M €	-24.3%	57,4 M €	-8.0%	62,3 M €	-19.5%	77,5 M €	-7.8%	84,1 M €	+91.9%	43,8 M €	-72.3%	158,2 M €	-29.3%	223,7 M €	+6.4%	210,3 M €	+76.0%	119,5 M €	+4.8%	114,1 M €	-6.5%	122 M €	+7.1%	113,9 M €	+48.7%	76,6 M €
EBITDA	-69,6 k €	-140%	175,1 k €	-55.0%	389 k €	-64.7%	1,1 M €	+44.2%	765,1 k €	+363%	-290,7 k €	-111%	2,6 M €	-10.3%	2,9 M €	-5.7%	3 M €	+73.9%	1,7 M €	+26.2%	1,4 M €	+12.4%	1,2 M €	+3.5%	1,2 M €	-35.7%	1,8 M €
Operating result	-89,2 k €	-156%	158 k €	-57.4%	371,1 k €	-65.8%	1,1 M €	+47.2%	737 k €	+338%	-309,6 k €	-112%	2,5 M €	-8.9%	2,8 M €	-5.3%	2,9 M €	+74.5%	1,7 M €	+27.2%	1,3 M €	+13.0%	1,2 M €	+4.0%	1,1 M €	-37.0%	1,8 M €
Net result	-17,1 k €	-149%	34,7 k €	-84.7%	227 k €	-60.9%	580 k €	+331%	134,4 k €	+112%	-1,1 M €	-361%	418,4 k €	-43.8%	744,6 k €	+141%	308,9 k €	+122%	139,4 k €	+19.4%	116,8 k €	-1.0%	117,9 k €	-1.3%	119,5 k €	+38.4%	86,3 k €
Balance sheet
Equity	28,3 M €	-0.1%	28,3 M €	+0.1%	28,3 M €	+0.8%	28,1 M €	+2.1%	27,5 M €	+0.5%	27,4 M €	+1.0%	27,1 M €	+1.6%	26,7 M €	+2.9%	25,9 M €	+365%	5,6 M €	+2.6%	5,4 M €	+2.2%	5,3 M €	+2.3%	5,2 M €	+2.3%	5,1 M €
Total assets	30,6 M €	+3.9%	29,5 M €	+0.1%	29,4 M €	-4.5%	30,8 M €	-12.9%	35,4 M €	-1.4%	35,9 M €	-56.6%	82,7 M €	-8.9%	90,8 M €	-16.6%	108,9 M €	+118%	49,9 M €	+1.5%	49,1 M €	+60.3%	30,6 M €	-34.1%	46,5 M €	+4.1%	44,7 M €
Cash	1,1 M €	-78.5%	5,2 M €	+464%	913,6 k €	-23.0%	1,2 M €	-74.9%	4,7 M €	+104%	2,3 M €	+868%	238,8 k €	-88.4%	2,1 M €	+1.2%	2 M €	+1019%	182,2 k €	-67.2%	556,1 k €	-68.2%	1,8 M €	-50.1%	3,5 M €	+239%	1 M €
Debts	2,3 M €	+103%	1,1 M €	-0.9%	1,1 M €	-50.8%	2,3 M €	-69.2%	7,6 M €	-7.9%	8,2 M €	-85.2%	55,6 M €	-13.2%	64,1 M €	-22.7%	82,9 M €	+87.3%	44,2 M €	+1.4%	43,6 M €	+72.7%	25,3 M €	-38.7%	41,3 M €	+4.3%	39,6 M €
Other
Workforce	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	-9.1%	1,1 ETP	0.0%	1,1 ETP	0.0%	1,1 ETP	+10.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	+11.1%	0,9 ETP	+50.0%	0,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2013 · 2 active · 1 ended

Active mandates

Dharmesh DONDA

Manager · since 19 janvier 2012

Active

BAGADIA JITANDRA ODHAVAJI

Manager

Active

Ended mandates

BAGADIA RAMYAVADAM ODHAVJI

Manager

Ended

At this address

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/07/2020	01/07/2019
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	18 months	12 months
Filing date	11/06/2026	26/05/2025	09/07/2024	10/07/2023	13/10/2022	22/02/2021
General meeting	28/05/2026	22/05/2025	12/06/2024	25/05/2023	31/05/2022	18/12/2020
Currency of the financial year	USD	USD	USD	USD	USD	USD
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
Full model	31/12/2025	28/05/2026	11/06/2026	Dutch	PDF
Full model	31/12/2024	22/05/2025	26/05/2025	Dutch	PDF
Full model	31/12/2023	12/06/2024	09/07/2024	Dutch	PDF
Full model	31/12/2022	25/05/2023	10/07/2023	Dutch	PDF
Full model	31/12/2021	31/05/2022	13/10/2022	Dutch	PDF
Full model	30/06/2020	18/12/2020	22/02/2021	Dutch	PDF
Full model	30/06/2019	04/12/2019	13/12/2019	Dutch	PDF
Full model	30/06/2018	29/11/2018	21/12/2018	Dutch	PDF
Full model	30/06/2017	30/11/2017	14/12/2017	Dutch	PDF
Full model	30/06/2016	24/11/2016	01/12/2016	Dutch	PDF
Full model	30/06/2015	26/11/2015	11/02/2016	Dutch	PDF
Full model	30/06/2014	27/11/2014	18/12/2014	Dutch	PDF
Full model	30/06/2013	28/11/2013	20/01/2014	Dutch	PDF
Full model	30/06/2012	29/11/2012	20/12/2012	Dutch	PDF
Full model	30/06/2011	24/11/2011	09/12/2011	Dutch	PDF
Full model	30/06/2010	25/11/2010	26/11/2010	Dutch	PDF
Full model	30/06/2009	26/11/2009	03/12/2009	Dutch	PDF
Full model	30/06/2008	27/11/2008	11/12/2008	Dutch	PDF
Full model	30/06/2007	29/11/2007	13/12/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 30/06/2013 · 2 active · 1 ended

Active mandates

Dharmesh DONDA

Manager · since 19 janvier 2012

Active

BAGADIA JITANDRA ODHAVAJI

Manager

Active

Ended mandates

BAGADIA RAMYAVADAM ODHAVJI

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/11/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/07/2021
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates24/12/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/07/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/12/2015
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares28/07/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares19/11/2013
KAPITAAL - AANDELEN
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 2025-17,1 k €↓
2024
Annual accounts 202434,7 k €↓
2023
Annual accounts 2023227 k €↓
2022
Annual accounts 2022580 k €↑
2021
Annual accounts 2021134,4 k €↑
2020
Annual accounts 2020-1,1 M €↓
2016
Annual accounts 2016418,4 k €↓
2015
Annual accounts 2015744,6 k €↑
2014
Annual accounts 2014308,9 k €↑
2013
Annual accounts 2013139,4 k €↑
2012
Annual accounts 2012116,8 k €↓
2011
Annual accounts 2011117,9 k €↓
2010
Annual accounts 2010119,5 k €↑
2009
Annual accounts 200986,3 k €
26/07/1994
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

GEMBLUE

Overview

What does GEMBLUE do?

Trend over 14 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