ACTIVE

FLANDERS SURPLUS

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

1,1 M €

+8.9% YoY

Gross margin

2 M €

+2.9% YoY

Equity

9,6 M €

+13.3% YoY

What does FLANDERS SURPLUS do?

FLANDERS SURPLUS is a Public limited company incorporated in 1994. Its registered office is in Zulte.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0453.693.348

Incorporation

24/10/1994

Legal form

Public limited company

Registered office

Leenstraat 9
9870 Zulte · FlandreSee on map

Contributed capital

312 000,00 €

Latest accounts

31/12/2025

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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 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	2 M €	+2.9%	1,9 M €	+9.7%	1,7 M €	+2.1%	1,7 M €	-35.8%	2,7 M €	+343%	599,6 k €	-37.1%	953,3 k €	-42.8%	1,7 M €	+179%	597 k €	-7.8%	647,5 k €	-4.0%	674,1 k €	+91.4%	352,1 k €	-7.7%	381,5 k €	+42.7%	267,3 k €	+27.9%	209,1 k €	+1.8%	205,4 k €	-26.0%	277,7 k €	+125%	123,2 k €	+0.7%	122,4 k €
EBITDA	1,8 M €	+7.7%	1,7 M €	+35.3%	1,2 M €	-19.7%	1,5 M €	-38.1%	2,5 M €	+435%	467,4 k €	-44.0%	835 k €	-46.0%	1,5 M €	+200%	515,9 k €	-9.1%	567,5 k €	-16.9%	682,9 k €	+147%	276,3 k €	-9.9%	306,6 k €	+56.2%	196,3 k €	+30.3%	150,6 k €	+10.9%	135,9 k €	-45.5%	249,5 k €	+109%	119,5 k €	+0.5%	118,9 k €
Operating result	1,6 M €	+9.2%	1,5 M €	+40.7%	1,1 M €	-23.4%	1,4 M €	-41.1%	2,3 M €	+591%	339,7 k €	-52.8%	719,4 k €	-50.1%	1,4 M €	+331%	334,6 k €	-24.0%	440,5 k €	-17.0%	530,7 k €	+215%	168,6 k €	-23.3%	219,7 k €	+84.2%	119,3 k €	+92.2%	62,1 k €	-4.2%	64,8 k €	-61.3%	167,2 k €	+463%	29,7 k €	-30.9%	43 k €
Net result	1,1 M €	+8.9%	1 M €	+50.6%	685,8 k €	-29.2%	968 k €	-42.5%	1,7 M €	+808%	185,5 k €	-59.5%	457,6 k €	-51.0%	934,3 k €	+342%	211,2 k €	-19.7%	263,1 k €	-22.5%	339,5 k €	+265%	93,1 k €	-32.1%	137,1 k €	+105%	67 k €	+105%	32,6 k €	-10.3%	36,4 k €	-66.1%	107,3 k €	+20927%	-515,2 €	-102%	26,7 k €
Balance sheet
Equity	9,6 M €	+13.3%	8,4 M €	+14.0%	7,4 M €	+10.2%	6,7 M €	+16.8%	5,7 M €	+74.3%	3,3 M €	+4.7%	3,1 M €	+15.3%	2,7 M €	+48.7%	1,8 M €	+10.3%	1,7 M €	+15.5%	1,4 M €	+26.2%	1,1 M €	+8.8%	1,1 M €	+14.9%	914,4 k €	+7.8%	848,3 k €	+0.1%	847,8 k €	+0.4%	844,5 k €	+14.2%	739,5 k €	-0.5%	742,8 k €
Total assets	11,6 M €	+12.2%	10,3 M €	+2.4%	10,1 M €	+29.9%	7,8 M €	+14.2%	6,8 M €	+15.4%	5,9 M €	+32.5%	4,4 M €	+12.3%	4 M €	+27.1%	3,1 M €	+0.3%	3,1 M €	+37.7%	2,3 M €	+25.2%	1,8 M €	+1.2%	1,8 M €	+5.6%	1,7 M €	+8.5%	1,6 M €	-1.4%	1,6 M €	-9.1%	1,7 M €	+19.8%	1,4 M €	-26.0%	2 M €
Cash	1,6 M €	-37.6%	2,5 M €	+96.7%	1,3 M €	-48.3%	2,5 M €	-40.2%	4,2 M €	+611%	588 k €	-57.4%	1,4 M €	-16.1%	1,6 M €	+308%	403,4 k €	-6.7%	432,3 k €	+36.7%	316,3 k €	+273%	84,9 k €	-85.0%	567,5 k €	+78.0%	318,9 k €	-3.2%	329,3 k €	+59.5%	206,5 k €	+256%	58 k €	-69.7%	191,3 k €	-53.8%	414,1 k €
Debts	2 M €	+7.2%	1,9 M €	-29.4%	2,7 M €	+155%	1,1 M €	+0.1%	1,1 M €	-59.4%	2,6 M €	+106%	1,3 M €	+6.0%	1,2 M €	-5.7%	1,3 M €	-11.2%	1,4 M €	+78.3%	796,6 k €	+42.9%	557,6 k €	-11.3%	628,9 k €	-5.0%	661,8 k €	+5.7%	625,9 k €	-6.3%	667,9 k €	-22.9%	866,3 k €	+22.7%	706 k €	-41.7%	1,2 M €
Other
Workforce	–		–		2,5 ETP	0.0%	2,5 ETP	0.0%	2,5 ETP	0.0%	2,5 ETP	0.0%	2,5 ETP	0.0%	2,5 ETP	+66.7%	1,5 ETP	0.0%	1,5 ETP	0.0%	1,5 ETP	0.0%	1,5 ETP	0.0%	1,5 ETP	+87.5%	0,8 ETP	+60.0%	0,5 ETP	0.0%	0,5 ETP		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 19 ended

Active mandates

ARTHUR VERSCHELDE

Bestuurder · since 26 mai 2026 · until 25 mai 2032

Active

PIET VERSCHELDE

Gedelegeerd bestuurder · since 26 mai 2026 · until 25 mai 2032

Active

SOFIE-ANNE HEMERYCK

Bestuurder · since 26 mai 2026 · until 25 mai 2032

Active

Ended mandates

Arthur Verschelde

Bestuurder · since 16 juillet 2020 · until 26 mai 2026

Ended

Arthur Verschelde

Director · since 16 juillet 2020 · until 26 mai 2026

Ended

Piet Verschelde

Gedelegeerd bestuurder · since 16 juillet 2020 · until 26 mai 2026

Ended

Piet Verschelde

Managing director · since 16 juillet 2020 · until 26 mai 2026

Ended

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	04/08/2026	25/07/2025	11/07/2024	03/08/2023	27/06/2022	13/07/2021
General meeting	26/05/2026	22/07/2025	28/05/2024	30/05/2023	31/05/2022	25/05/2021
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

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	26/05/2026	04/08/2026	Dutch	PDF
Abridged model	31/12/2024	22/07/2025	25/07/2025	Dutch	PDF
Abridged model	31/12/2023	28/05/2024	11/07/2024	Dutch	PDF
Abridged model	31/12/2022	30/05/2023	03/08/2023	Dutch	PDF
Abridged model	31/12/2021	31/05/2022	27/06/2022	Dutch	PDF
Abridged model	31/12/2020	25/05/2021	13/07/2021	Dutch	PDF
Abridged model	31/12/2019	29/05/2020	30/06/2020	Dutch	PDF
Abridged model	31/12/2018	01/05/2019	06/06/2019	Dutch	PDF
Abridged model	31/12/2017	29/05/2018	21/06/2018	Dutch	PDF
Abridged model	31/12/2016	30/05/2017	20/06/2017	Dutch	PDF
Abridged model	31/12/2015	30/05/2016	14/06/2016	Dutch	PDF
Abridged model	31/12/2014	26/09/2015	28/09/2015	Dutch	PDF
Abridged model	31/12/2013	27/05/2014	29/08/2014	Dutch	PDF
Abridged model	31/12/2012	30/05/2013	23/08/2013	Dutch	PDF
Abridged model	31/12/2011	14/09/2012	17/09/2012	Dutch	PDF
Abridged model	31/12/2010	14/09/2011	14/09/2011	Dutch	PDF
Abridged model	31/12/2009	25/05/2010	17/08/2010	Dutch	PDF
Abridged model	31/12/2008	26/05/2009	17/08/2009	Dutch	PDF
Abridged model	31/12/2007	27/05/2008	15/09/2008	Dutch	PDF
Abridged model	31/12/2006	29/05/2007	29/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 3 active · 19 ended

Active mandates

ARTHUR VERSCHELDE

Bestuurder · since 26 mai 2026 · until 25 mai 2032

Active

PIET VERSCHELDE

Gedelegeerd bestuurder · since 26 mai 2026 · until 25 mai 2032

Active

SOFIE-ANNE HEMERYCK

Bestuurder · since 26 mai 2026 · until 25 mai 2032

Active

Ended mandates

Arthur Verschelde

Bestuurder · since 16 juillet 2020 · until 26 mai 2026

Ended

Arthur Verschelde

Director · since 16 juillet 2020 · until 26 mai 2026

Ended

Piet Verschelde

Gedelegeerd bestuurder · since 16 juillet 2020 · until 26 mai 2026

Ended

Piet Verschelde

Managing director · since 16 juillet 2020 · until 26 mai 2026

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates21/08/2026
Benoemingen
PDF
Mandates06/08/2020
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates03/07/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/02/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/03/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/01/2007
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - 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 20251,1 M €↑
2024
Annual accounts 20241 M €↑
2023
Annual accounts 2023685,8 k €↓
2022
Annual accounts 2022968 k €↓
2021
Annual accounts 20211,7 M €↑
2019
Annual accounts 2019185,5 k €↓
2018
Annual accounts 2018457,6 k €↓
2017
Annual accounts 2017934,3 k €↑
2016
Annual accounts 2016211,2 k €↓
2015
Annual accounts 2015263,1 k €↓
2014
Annual accounts 2014339,5 k €↑
2013
Annual accounts 201393,1 k €↓
2012
Annual accounts 2012137,1 k €↑
2011
Annual accounts 201167 k €↑
2010
Annual accounts 201032,6 k €↓
2009
Annual accounts 200936,4 k €↓
2008
Annual accounts 2008107,3 k €↑
2007
Annual accounts 2007-515,2 €↓
2006
Annual accounts 200626,7 k €
24/10/1994
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

FLANDERS SURPLUS

Overview

What does FLANDERS SURPLUS 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