ACTIVE

Futhark

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Financial year 2025 · closed on 30/09/2025

Net result

21,6 k €

+11.5% YoY

Gross margin

32,5 k €

+8.3% YoY

Equity

67,2 k €

-17.7% YoY

What does Futhark do?

Futhark is a Private limited company incorporated in 1995. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Merelbeke-Melle.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0456.055.891

Incorporation

18/09/1995

Legal form

Private limited company

Registered office

Van Goethemstraat 106
9820 Merelbeke-Melle · FlandreSee on map

Contributed capital

6 205,32 €

Latest accounts

30/09/2025

Activities (NACE)

68203Rental and operating of own or leased real estate· main

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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
Gross margin	32,5 k €	+8.3%	30 k €	+52.4%	19,7 k €	+119%	9 k €	-48.4%	17,5 k €	+66.0%	10,5 k €	-36.7%	16,6 k €	+19.3%	13,9 k €	-15.8%	16,5 k €	+26.1%	13,1 k €	-24.6%	17,4 k €	+7.3%	16,2 k €	+26.1%	12,9 k €	-1.6%	13,1 k €	+8.0%	12,1 k €	+4.9%	11,5 k €	-1.4%	11,7 k €	-5.5%	12,4 k €	-0.2%	12,4 k €
EBITDA	31,2 k €	+8.3%	28,8 k €	+54.2%	18,7 k €	+130%	8,1 k €	-52.4%	17 k €	+70.2%	10 k €	-36.5%	15,8 k €	+20.4%	13,1 k €	-0.9%	13,2 k €	+35.0%	9,8 k €	-32.6%	14,5 k €	+4.3%	13,9 k €	+14.8%	12,1 k €	-1.7%	12,3 k €	+9.4%	11,3 k €	+5.2%	10,7 k €	+3.6%	10,4 k €	-10.7%	11,6 k €	+6.2%	10,9 k €
Operating result	31,2 k €	+8.3%	28,8 k €	+54.2%	18,7 k €	+130%	8,1 k €	-67.0%	24,5 k €	+145%	10 k €	-36.5%	15,8 k €	+20.4%	13,1 k €	-0.9%	13,2 k €	+35.0%	9,8 k €	-9.9%	10,9 k €	+5.9%	10,3 k €	+21.1%	8,5 k €	-2.5%	8,7 k €	+13.9%	7,6 k €	+12.4%	6,8 k €	+5.8%	6,4 k €	-16.3%	7,7 k €	+9.7%	7 k €
Net result	21,6 k €	+11.5%	19,3 k €	+57.9%	12,2 k €	+135%	5,2 k €	-67.8%	16,2 k €	+200%	5,4 k €	-43.9%	9,6 k €	+34.1%	7,2 k €	-9.4%	7,9 k €	+35.3%	5,9 k €	-15.3%	6,9 k €	-19.9%	8,7 k €	+16.3%	7,4 k €	+1.7%	7,3 k €	+24.0%	5,9 k €	+22.7%	4,8 k €	+17.1%	4,1 k €	-19.3%	5,1 k €	+21.5%	4,2 k €
Balance sheet
Equity	67,2 k €	-17.7%	81,6 k €	+31.1%	62,3 k €	-12.4%	71,1 k €	+7.9%	65,8 k €	+32.7%	49,6 k €	+12.3%	44,2 k €	+27.9%	34,5 k €	+26.3%	27,3 k €	+40.9%	19,4 k €	+43.3%	13,5 k €	+105%	6,6 k €	+423%	-2 k €	+78.4%	-9,5 k €	+43.5%	-16,8 k €	+26.0%	-22,7 k €	+17.5%	-27,5 k €	+13.0%	-31,6 k €	+13.9%	-36,7 k €
Total assets	145,5 k €	+63.6%	88,9 k €	+13.3%	78,5 k €	+2.0%	76,9 k €	-1.8%	78,3 k €	+19.5%	65,5 k €	-4.7%	68,8 k €	+31.6%	52,2 k €	+17.8%	44,3 k €	+42.7%	31,1 k €	+12.7%	27,5 k €	-15.3%	32,5 k €	-1.0%	32,9 k €	-7.9%	35,7 k €	-1.6%	36,3 k €	-9.6%	40,1 k €	-9.7%	44,4 k €	-9.3%	49 k €	-11.4%	55,3 k €
Cash	6,8 k €	+58.7%	4,3 k €	-92.7%	58,9 k €	+285%	15,3 k €	-8.3%	16,7 k €	+329%	3,9 k €	-79.7%	19,1 k €	+241%	5,6 k €	+21.8%	4,6 k €	-15.2%	5,4 k €	-31.4%	7,9 k €	-14.4%	9,3 k €	+56.2%	5,9 k €	+16.1%	5,1 k €	+152%	2 k €	-8.1%	2,2 k €	-14.8%	2,6 k €	-18.9%	3,2 k €	-42.4%	5,5 k €
Debts	78,3 k €	+973%	7,3 k €	-55.0%	16,2 k €	+177%	5,9 k €	-53.0%	12,5 k €	+48.3%	8,4 k €	-50.7%	17,1 k €	+67.5%	10,2 k €	+7.5%	9,5 k €	+42.6%	6,7 k €	-42.2%	11,5 k €	-53.4%	24,7 k €	-28.6%	34,6 k €	-23.5%	45,2 k €	-14.9%	53,1 k €	-15.5%	62,8 k €	-12.7%	71,9 k €	-10.7%	80,6 k €	-12.4%	91,9 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 1 active · 3 ended

Active mandates

Jaroro

Director · 0745.705.019

Active

Ended mandates

Jaroro

Mandate · 0745.705.019

Represented by Jeroen De Man

Ended

Kenny Schelstraete

Director

Ended

Kenny Schelstraete

Manager

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	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	28/04/2026	30/04/2025	17/11/2023	28/04/2023	03/05/2022	30/04/2021
General meeting	16/12/2025	16/11/2024	16/11/2023	28/03/2023	25/02/2022	28/02/2021
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	30/09/2025	16/12/2025	28/04/2026	Dutch	PDF
Micro model	30/09/2024	16/11/2024	30/04/2025	Dutch	PDF
Micro model	30/09/2023	16/11/2023	17/11/2023	Dutch	PDF
Micro model	30/09/2022	28/03/2023	28/04/2023	Dutch	PDF
Micro model	30/09/2021	25/02/2022	03/05/2022	Dutch	PDF
Micro model	30/09/2020	28/02/2021	30/04/2021	Dutch	PDF
Micro model	30/09/2019	28/02/2020	31/03/2020	Dutch	PDF
Micro model	30/09/2018	22/02/2019	29/04/2019	Dutch	PDF
Micro model	30/09/2017	23/02/2018	05/04/2018	Dutch	PDF
Abridged model	30/09/2016	24/02/2017	31/03/2017	Dutch	PDF
Abridged model	30/09/2015	27/02/2016	31/03/2016	Dutch	PDF
Abridged model	30/09/2014	27/02/2015	26/03/2015	Dutch	PDF
Abridged model	30/09/2013	28/02/2014	25/04/2014	Dutch	PDF
Abridged model	30/09/2012	22/02/2013	25/04/2013	Dutch	PDF
Abridged model	30/09/2011	24/03/2012	15/05/2012	Dutch	PDF
Abridged model	30/09/2010	25/02/2011	30/04/2011	Dutch	PDF
Abridged model	30/09/2009	26/02/2010	27/04/2010	Dutch	PDF
Abridged model	30/09/2008	27/02/2009	30/03/2009	Dutch	PDF
Abridged model	30/09/2007	29/02/2008	31/03/2008	Dutch	PDF
Abridged model	30/09/2006	23/02/2007	29/03/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 30/09/2025 · 1 active · 3 ended

Active mandates

Jaroro

Director · 0745.705.019

Active

Ended mandates

Jaroro

Mandate · 0745.705.019

Represented by Jeroen De Man

Ended

Kenny Schelstraete

Director

Ended

Kenny Schelstraete

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other01/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - BENAMING - DIVERSEN - DOEL
PDF
Mandates12/09/2023
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Registered office11/05/2015
MAATSCHAPPELIJKE ZETEL
PDF
Registered office20/01/2011
MAATSCHAPPELIJKE ZETEL
PDF
Registered office16/02/2009
MAATSCHAPPELIJKE ZETEL
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 202521,6 k €↑
2024
Annual accounts 202419,3 k €↑
2024
Name changeFuthark
2023
Annual accounts 202312,2 k €↑
2022
Annual accounts 20225,2 k €↓
2021
Annual accounts 202116,2 k €↑
2021
Name changeDolmiki
2020
Annual accounts 20205,4 k €↓
2019
Annual accounts 20199,6 k €↑
2018
Annual accounts 20187,2 k €↓
2017
Annual accounts 20177,9 k €↑
2016
Annual accounts 20165,9 k €↓
2015
Annual accounts 20156,9 k €↓
2014
Annual accounts 20148,7 k €↑
2013
Annual accounts 20137,4 k €↑
2012
Annual accounts 20127,3 k €↑
2011
Annual accounts 20115,9 k €↑
2010
Annual accounts 20104,8 k €↑
2009
Annual accounts 20094,1 k €↓
2008
Annual accounts 20085,1 k €↑
2007
Annual accounts 20074,2 k €
18/09/1995
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

Futhark

Overview

What does Futhark 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