ACTIVE

TADAL

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Financial year 2025 · closed on 31/12/2025

Net result

6,8 M €

+25.1% YoY

Revenue

60,4 M €

+8.2% YoY

Equity

7,3 M €

+2.1% YoY

Workforce

50,7 ETP

+5.6% YoY

What does TADAL do?

TADAL is a Public limited company incorporated in 1995. Its registered office is in Bruxelles. It employs on average 50,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0455.967.702

Incorporation

19/09/1995

Legal form

Public limited company

Registered office

Quai des Usines 22-23
1000 Bruxelles · BruxellesSee on map

Contributed capital

150 000,00 €

Latest accounts

31/12/2025

Average workforce

50,7 ETP

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	60,4 M €	+8.2%	55,8 M €	+10.0%	50,7 M €	+10.9%	45,7 M €	+18.0%	38,8 M €	+2.7%	37,7 M €	+34.1%	28,1 M €	+1.0%	27,8 M €	+4.7%	26,6 M €	+0.9%	26,4 M €	+8.5%	24,3 M €	+8.2%	22,5 M €	+14.0%	19,7 M €	+16.7%	16,9 M €	+11.0%	15,2 M €	+8.2%	14,1 M €	+7.2%	13,1 M €	+4.6%	12,5 M €	-18.6%	15,4 M €
EBITDA	7,5 M €	+24.4%	6 M €	+13.0%	5,3 M €	+25.0%	4,3 M €	+122%	1,9 M €	-9.4%	2,1 M €	+64.5%	1,3 M €	-5.9%	1,4 M €	+25.6%	1,1 M €	+70.8%	637,7 k €	-7.6%	690,2 k €	-31.4%	1 M €	+119%	458,9 k €	+20.4%	381,1 k €	-36.5%	600,4 k €	+17.6%	510,3 k €	+20.5%	423,3 k €	-6.6%	453,5 k €	+22.5%	370,3 k €
Operating result	6,8 M €	+25.5%	5,5 M €	+14.0%	4,8 M €	+27.0%	3,8 M €	+161%	1,4 M €	-16.5%	1,7 M €	+83.4%	941,7 k €	-1.4%	954,7 k €	+40.8%	678 k €	+140%	282,3 k €	-33.1%	422,1 k €	-46.5%	789,6 k €	+213%	252,4 k €	+359%	54,9 k €	-82.6%	316,3 k €	+4.5%	302,7 k €	+48.5%	203,8 k €	+12.4%	181,3 k €	+38.8%	130,7 k €
Net result	6,8 M €	+25.1%	5,4 M €	+14.2%	4,8 M €	+31.1%	3,6 M €	+243%	1,1 M €	-16.2%	1,3 M €	+108%	609,1 k €	-3.3%	630,2 k €	+49.8%	420,6 k €	+178%	151,1 k €	-39.6%	249,9 k €	-48.4%	484,8 k €	+252%	137,7 k €	+3346%	-4,2 k €	-103%	126,1 k €	+18.1%	106,8 k €	+14.3%	93,4 k €	+2.2%	91,3 k €	+63.6%	55,8 k €
Balance sheet
Equity	7,3 M €	+2.1%	7,1 M €	+8.1%	6,6 M €	+0.8%	6,5 M €	+1.3%	6,4 M €	+30.6%	4,9 M €	+35.8%	3,6 M €	+19.1%	3,1 M €	+24.6%	2,5 M €	+18.9%	2,1 M €	+5.8%	1,9 M €	+17.3%	1,7 M €	+41.1%	1,2 M €	+51.5%	776,7 k €	-0.5%	781 k €	+19.3%	654,9 k €	+19.5%	548,1 k €	+20.5%	454,8 k €	+25.1%	363,5 k €
Total assets	23 M €	+13.1%	20,4 M €	+4.5%	19,5 M €	+14.3%	17 M €	+13.2%	15,1 M €	+26.8%	11,9 M €	+21.7%	9,8 M €	+2.3%	9,5 M €	+5.0%	9,1 M €	+5.4%	8,6 M €	+4.4%	8,3 M €	+19.2%	6,9 M €	+12.6%	6,2 M €	+21.8%	5,1 M €	+9.4%	4,6 M €	+2.8%	4,5 M €	+10.1%	4,1 M €	+4.7%	3,9 M €	+2.2%	3,8 M €
Cash	10,6 M €	+35.3%	7,8 M €	+88.5%	4,2 M €	-26.8%	5,7 M €	+39.2%	4,1 M €	+7.9%	3,8 M €	+96.3%	1,9 M €	-2.9%	2 M €	+56.7%	1,3 M €	+84.5%	685,4 k €	-5.3%	723,7 k €	+6.7%	678 k €	+23.1%	550,7 k €	+48.9%	369,8 k €	-21.6%	471,6 k €	-5.0%	496,5 k €	+43.3%	346,4 k €	-20.1%	433,5 k €	+16.0%	373,6 k €
Debts	15,8 M €	+18.9%	13,2 M €	+2.7%	12,9 M €	+22.7%	10,5 M €	+23.1%	8,5 M €	+31.3%	6,5 M €	+6.3%	6,1 M €	-0.4%	6,1 M €	-7.4%	6,6 M €	+1.1%	6,6 M €	+3.9%	6,3 M €	+19.8%	5,3 M €	+5.8%	5 M €	+16.5%	4,3 M €	+11.7%	3,8 M €	+0.0%	3,8 M €	+9.2%	3,5 M €	+2.2%	3,4 M €	-0.0%	3,4 M €
Other
Workforce	50,7 ETP	+5.6%	48,0 ETP	+4.3%	46,0 ETP	-1.1%	46,5 ETP	+4.5%	44,5 ETP	-8.2%	48,5 ETP	+55.4%	31,2 ETP	+5.4%	29,6 ETP	+2.4%	28,9 ETP	+2.8%	28,1 ETP	+19.6%	23,5 ETP	+16.3%	20,2 ETP	-5.2%	21,3 ETP	-0.9%	21,5 ETP	+62.9%	13,2 ETP	0.0%	13,2 ETP	+1.5%	13,0 ETP	-7.1%	14,0 ETP	-4.8%	14,7 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 15 ended

Active mandates

D.M.J. Holding

Managing director · 0772.644.986

Represented by Deniz TOKO

Active

Elisabeth ERGUN

Director

Active

Jonathan TOKO

Director

Active

Karine CHEIKH HANNA

Director

Active

Murat TOKO

Director

Active

Patricia TOKO

Director

Active

Ended mandates

Jonathan TOKO

Director · since 01 février 2015 · until 18 juin 2019

Ended

Deniz TOKO

Managing director · since 24 septembre 2013 · until 18 juin 2019

Ended

Elisabeth ERGUN

Director · since 24 septembre 2013 · until 18 juin 2019

Ended

Murat TOKO

Director · since 24 septembre 2013 · until 18 juin 2019

Ended

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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	01/01/2021	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	28/08/2026	12/07/2025	17/07/2024	30/08/2023	13/07/2022	26/07/2021
General meeting	23/06/2026	23/06/2025	14/06/2024	14/06/2023	15/06/2022	24/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full modelCorrection	31/12/2025	23/06/2026	28/08/2026	French	PDF
Full model	31/12/2025	23/06/2026	11/08/2026	French	PDF
Full model	31/12/2024	23/06/2025	12/07/2025	French	PDF
Full model	31/12/2023	14/06/2024	17/07/2024	French	PDF
Full model	31/12/2022	14/06/2023	30/08/2023	French	PDF
Full model	31/12/2021	15/06/2022	13/07/2022	French	PDF
Full model	31/12/2020	24/06/2021	26/07/2021	French	PDF
Full model	31/12/2019	24/06/2020	29/07/2020	French	PDF
Full model	31/12/2018	24/06/2019	22/07/2019	French	PDF
Full model	31/12/2017	20/06/2018	26/07/2018	French	PDF
Full model	31/12/2016	20/06/2017	31/08/2017	French	PDF
Full model	31/12/2015	14/06/2016	31/08/2016	French	PDF
Full model	31/12/2014	16/06/2015	31/08/2015	French	PDF
Full model	31/12/2013	30/06/2014	25/07/2014	French	PDF
Full model	31/12/2012	24/09/2013	30/09/2013	French	PDF
Full model	31/12/2011	05/07/2012	07/08/2012	French	PDF
Full model	31/12/2010	12/07/2011	24/07/2011	French	PDF
Full model	31/12/2009	25/06/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	23/06/2009	29/09/2009	French	PDF
Abridged model	31/12/2007	27/06/2008	25/07/2008	French	PDF
Abridged model	30/06/2006	29/12/2006	28/02/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 · 6 active · 15 ended

Active mandates

D.M.J. Holding

Managing director · 0772.644.986

Represented by Deniz TOKO

Active

Elisabeth ERGUN

Director

Active

Jonathan TOKO

Director

Active

Karine CHEIKH HANNA

Director

Active

Murat TOKO

Director

Active

Patricia TOKO

Director

Active

Ended mandates

Jonathan TOKO

Director · since 01 février 2015 · until 18 juin 2019

Ended

Deniz TOKO

Managing director · since 24 septembre 2013 · until 18 juin 2019

Ended

Elisabeth ERGUN

Director · since 24 septembre 2013 · until 18 juin 2019

Ended

Murat TOKO

Director · since 24 septembre 2013 · until 18 juin 2019

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates12/08/2026
Renouvellement des mandats des administrateurs !
PDF
Mandates06/08/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates21/01/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates22/10/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates02/08/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates20/06/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates13/10/2015
DEMISSIONS, NOMINATIONS
PDF
Mandates16/03/2015
DEMISSIONS, NOMINATIONS
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 20256,8 M €↑
2024
Annual accounts 20245,4 M €↑
2023
Annual accounts 20234,8 M €↑
2022
Annual accounts 20223,6 M €↑
2021
Annual accounts 20211,1 M €↓
2020
Annual accounts 20201,3 M €↑
2019
Annual accounts 2019609,1 k €↓
2018
Annual accounts 2018630,2 k €↑
2017
Annual accounts 2017420,6 k €↑
2016
Annual accounts 2016151,1 k €↓
2015
Annual accounts 2015249,9 k €↓
2014
Annual accounts 2014484,8 k €↑
2013
Annual accounts 2013137,7 k €↑
2012
Annual accounts 2012-4,2 k €↓
2011
Annual accounts 2011126,1 k €↑
2010
Annual accounts 2010106,8 k €↑
2009
Annual accounts 200993,4 k €↑
2008
Annual accounts 200891,3 k €↑
2007
Annual accounts 200755,8 k €
19/09/1995
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

TADAL

Overview

What does TADAL do?

Trend over 19 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