ACTIVE

MURAD

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Financial year 2025 · closed on 31/12/2025

Net result

24,2 k €

-17.6% YoY

Gross margin

55,2 k €

-10.7% YoY

Equity

408,6 k €

+1.7% YoY

What does MURAD do?

MURAD is a Public limited company incorporated in 1995. Its registered office is in Mechelen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0454.553.975

Incorporation

10/02/1995

Legal form

Public limited company

Registered office

Overheide 34
2800 Mechelen · FlandreSee on map

Contributed capital

180 000,00 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	55,2 k €	-10.7%	61,9 k €	+38.3%	44,7 k €	-4.3%	46,8 k €	+12.3%	41,7 k €	-22.0%	53,4 k €	-6.6%	57,2 k €	-0.8%	57,6 k €	-9.0%	63,3 k €	-2.8%	65,2 k €	+1.3%	64,3 k €	-1.7%	65,5 k €	+4.0%	63 k €	-5.8%	66,8 k €	-16.2%	79,7 k €	+4.3%	76,4 k €	-0.2%	76,6 k €	+17.3%	65,3 k €
EBITDA	43 k €	-14.6%	50,3 k €	+49.6%	33,6 k €	-9.7%	37,2 k €	+15.2%	32,3 k €	-26.7%	44,1 k €	-8.9%	48,4 k €	-1.3%	49,1 k €	-10.2%	54,7 k €	-3.0%	56,4 k €	+0.7%	56 k €	-2.0%	57,1 k €	+4.4%	54,7 k €	-6.9%	58,8 k €	-18.3%	71,9 k €	+5.0%	68,5 k €	-0.1%	68,6 k €	+18.5%	57,9 k €
Operating result	27,4 k €	-21.1%	34,8 k €	+92.3%	18,1 k €	-16.6%	21,7 k €	+28.1%	16,9 k €	-41.1%	28,7 k €	-13.1%	33 k €	-1.9%	33,7 k €	+24.9%	27 k €	-5.9%	28,7 k €	+1.4%	28,3 k €	-3.9%	29,4 k €	+9.0%	27 k €	-13.1%	31,1 k €	-29.8%	44,2 k €	+8.3%	40,8 k €	-0.2%	40,9 k €	+78.3%	22,9 k €
Net result	24,2 k €	-17.6%	29,4 k €	+73.4%	16,9 k €	-9.1%	18,6 k €	+25.1%	14,9 k €	-43.3%	26,3 k €	-0.1%	26,3 k €	-9.5%	29,1 k €	+15.3%	25,2 k €	-6.1%	26,8 k €	-0.6%	27 k €	-5.6%	28,6 k €	+18.2%	24,2 k €	-1.7%	24,6 k €	+110%	11,7 k €	-44.9%	21,3 k €	+13.7%	18,7 k €	+514%	3 k €
Balance sheet
Equity	408,6 k €	+1.7%	401,9 k €	+2.7%	391,4 k €	+0.0%	391,3 k €	+1.5%	385,4 k €	+1.3%	380,5 k €	+2.6%	370,8 k €	+2.7%	361 k €	+3.6%	348,4 k €	+0.9%	345,2 k €	+1.7%	339,4 k €	+2.1%	332,4 k €	+3.0%	322,8 k €	+3.3%	312,6 k €	+3.4%	302,2 k €	+4.0%	290,4 k €	+5.2%	276,1 k €	+7.3%	257,4 k €
Total assets	604,1 k €	-2.8%	621,3 k €	-2.2%	635,4 k €	+2.6%	619,5 k €	-2.7%	637 k €	-2.1%	650,8 k €	-2.2%	665,7 k €	-2.3%	681,1 k €	-2.3%	696,8 k €	-4.1%	726,2 k €	-3.7%	753,9 k €	-3.4%	780,3 k €	-3.4%	807,5 k €	-3.3%	835,5 k €	-3.2%	863,2 k €	-3.1%	890,5 k €	-3.0%	918,3 k €	-3.0%	946,7 k €
Cash	31,5 k €	+0.4%	31,4 k €	+2513%	1,2 k €	+485%	205,3 €	-76.2%	861,7 €	+58.5%	543,5 €	+676%	70 €	-33.9%	105,9 €	-72.6%	386,7 €	-81.8%	2,1 k €	+0.4%	2,1 k €	+175%	769,8 €	+130%	335,2 €	-43.3%	591,7 €	-8.4%	646,4 €	+165%	243,7 €	-14.5%	284,9 €	-70.7%	970,8 €
Debts	195,5 k €	-10.9%	219,4 k €	-9.7%	243,1 k €	+6.5%	228,2 k €	-9.3%	251,5 k €	-6.9%	270,2 k €	-8.4%	294,9 k €	-7.9%	320,1 k €	-8.1%	348,4 k €	-8.6%	381 k €	-8.1%	414,6 k €	-7.4%	447,9 k €	-7.6%	484,8 k €	-5.3%	511,9 k €	-8.7%	560,5 k €	-6.4%	599,1 k €	-6.5%	640,9 k €	-7.0%	689 k €

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 31/12/2025 · 4 active · 14 ended

Active mandates

Bibi Naz Zavieh

Director · since 07 juin 2022 · until 06 juin 2028

Active

Djalal Zavieh

Managing director · since 07 juin 2022 · until 06 juin 2028

Active

Giti Esfahani Afsarzadeh

Director · since 07 juin 2022 · until 06 juin 2028

Active

Monique Vanquickelberge

Director · since 07 juin 2022 · until 06 juin 2028

Active

Ended mandates

Giti Afsarzadeh Esfahani

Director · since 07 juin 2022 · until 06 juin 2028

Ended

Bibi Naz Zavieh

Director · since 10 janvier 2017 · until 31 décembre 2022

Ended

Bibi Naz ZAVIEH

Director · since 01 janvier 2017 · until 31 décembre 2022

Ended

Bibi Naz ZAVIEH

Director · since 01 janvier 2017

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	19/05/2026	21/05/2025	29/05/2024	13/06/2023	10/06/2022	02/07/2021
General meeting	12/05/2026	13/05/2025	14/05/2024	06/06/2023	07/06/2022	30/06/2021
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
Micro model	31/12/2025	12/05/2026	19/05/2026	Dutch	PDF
Micro model	31/12/2024	13/05/2025	21/05/2025	Dutch	PDF
Micro model	31/12/2023	14/05/2024	29/05/2024	French	PDF
Micro model	31/12/2022	06/06/2023	13/06/2023	Dutch	PDF
Micro model	31/12/2021	07/06/2022	10/06/2022	Dutch	PDF
Micro model	31/12/2020	30/06/2021	02/07/2021	French	PDF
Micro model	31/12/2019	30/06/2020	09/07/2020	French	PDF
Micro model	31/12/2018	28/06/2019	02/07/2019	French	PDF
Micro model	31/12/2017	28/06/2018	28/06/2018	French	PDF
Abridged model	31/12/2016	23/06/2017	29/06/2017	French	PDF
Abridged model	31/12/2015	27/06/2016	27/06/2016	French	PDF
Abridged model	31/12/2014	05/06/2015	12/06/2015	French	PDF
Abridged model	31/12/2013	26/06/2014	30/06/2014	French	PDF
Abridged model	31/12/2012	28/06/2013	12/07/2013	French	PDF
Abridged model	31/12/2011	28/06/2012	16/07/2012	French	PDF
Abridged model	31/12/2010	28/06/2011	06/07/2011	French	PDF
Abridged model	31/12/2009	28/06/2010	19/07/2010	French	PDF
Abridged model	31/12/2008	29/06/2009	27/07/2009	French	PDF
Abridged model	31/12/2007	26/06/2008	17/07/2008	French	PDF
Abridged model	31/12/2006	26/06/2007	23/07/2007	French	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 31/12/2025 · 4 active · 14 ended

Active mandates

Bibi Naz Zavieh

Director · since 07 juin 2022 · until 06 juin 2028

Active

Djalal Zavieh

Managing director · since 07 juin 2022 · until 06 juin 2028

Active

Giti Esfahani Afsarzadeh

Director · since 07 juin 2022 · until 06 juin 2028

Active

Monique Vanquickelberge

Director · since 07 juin 2022 · until 06 juin 2028

Active

Ended mandates

Giti Afsarzadeh Esfahani

Director · since 07 juin 2022 · until 06 juin 2028

Ended

Bibi Naz Zavieh

Director · since 10 janvier 2017 · until 31 décembre 2022

Ended

Bibi Naz ZAVIEH

Director · since 01 janvier 2017 · until 31 décembre 2022

Ended

Bibi Naz ZAVIEH

Director · since 01 janvier 2017

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other29/01/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN
PDF
Mandates08/08/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/02/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/09/2016
DEMISSIONS, NOMINATIONS
PDF
Registered office03/06/2016
SIEGE SOCIAL
PDF
Capital / shares09/01/2012
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates16/08/2010
DEMISSIONS, NOMINATIONS
PDF
Registered office13/11/2009
SIEGE SOCIAL
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 202524,2 k €↓
2024
Annual accounts 202429,4 k €↑
2023
Annual accounts 202316,9 k €↓
2022
Annual accounts 202218,6 k €↑
2021
Annual accounts 202114,9 k €↓
2020
Annual accounts 202026,3 k €↓
2019
Annual accounts 201926,3 k €↓
2018
Annual accounts 201829,1 k €↑
2017
Annual accounts 201725,2 k €↓
2016
Annual accounts 201626,8 k €↓
2015
Annual accounts 201527 k €↓
2014
Annual accounts 201428,6 k €↑
2013
Annual accounts 201324,2 k €↓
2012
Annual accounts 201224,6 k €↑
2011
Annual accounts 201111,7 k €↓
2010
Annual accounts 201021,3 k €↑
2009
Annual accounts 200918,7 k €↑
2008
Annual accounts 20083 k €
10/02/1995
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

MURAD

Overview

What does MURAD do?

Trend over 18 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