ACTIVE

WESTBEKE

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Financial year 2025 · closed on 31/12/2025

Net result

401,3 k €

+4.7% YoY

Gross margin

726,7 k €

+13.8% YoY

Equity

6,2 M €

+6.9% YoY

Workforce

0,0 ETP

What does WESTBEKE do?

WESTBEKE is a Private limited company incorporated in 1996. Its main activity is: Activities of holding companies. Its registered office is in Lievegem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0458.815.443

Incorporation

18/09/1996

Legal form

Private limited company

Registered office

Baetsdreef 12
9950 Lievegem · FlandreSee on map

Contributed capital

143 150,15 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate 82990Other business support service activities n.e.c.82990Other business support service activities n.e.c.

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	726,7 k €	+13.8%	638,4 k €	-74.3%	2,5 M €	+239%	733,1 k €	-2.9%	754,7 k €	+718%	92,3 k €	-0.0%	92,3 k €	-10.4%	103 k €	+149%	41,3 k €	+118%	19 k €	-1.3%	19,2 k €	-8.5%	21 k €	+3.8%	20,2 k €	-28.6%	28,3 k €	+24.8%	22,7 k €	-12.3%	25,8 k €	+68.0%	15,4 k €	+6.4%	14,5 k €
EBITDA	701,3 k €	+14.3%	613,7 k €	-75.0%	2,5 M €	+238%	728,6 k €	-0.4%	731,4 k €	+734%	87,7 k €	-0.2%	87,9 k €	-14.1%	102,4 k €	+152%	40,6 k €	+121%	18,3 k €	-1.3%	18,6 k €	-8.8%	20,4 k €	+3.9%	19,6 k €	-29.9%	27,9 k €	+50.7%	18,5 k €	-15.2%	21,9 k €	+101%	10,9 k €	+4.9%	10,4 k €
Operating result	612,5 k €	+14.7%	534,2 k €	-78.1%	2,4 M €	+237%	724,1 k €	+0.1%	723,2 k €	+725%	87,7 k €	-0.2%	87,9 k €	-14.1%	102,4 k €	+152%	40,6 k €	+121%	18,3 k €	-1.3%	18,6 k €	-8.8%	20,4 k €	+3.9%	19,6 k €	-29.9%	27,9 k €	+50.7%	18,5 k €	-15.2%	21,9 k €	+101%	10,9 k €	+5.9%	10,3 k €
Net result	401,3 k €	+4.7%	383,5 k €	-78.7%	1,8 M €	+273%	481,9 k €	+0.2%	481,1 k €	+1066%	41,2 k €	+14.0%	36,2 k €	-54.8%	80 k €	+215%	-69,5 k €	-995%	7,8 k €	+18.0%	6,6 k €	-38.0%	10,6 k €	+27.0%	8,3 k €	-56.3%	19,1 k €	+76.5%	10,8 k €	-18.2%	13,2 k €	+492%	2,2 k €	+1352%	-178,7 €
Balance sheet
Equity	6,2 M €	+6.9%	5,8 M €	+7.0%	5,5 M €	+49.2%	3,7 M €	+15.2%	3,2 M €	+954%	301 k €	+15.9%	259,8 k €	+16.2%	223,6 k €	+55.7%	143,6 k €	-32.6%	213,1 k €	+3.8%	205,3 k €	+3.3%	198,8 k €	+5.6%	188,2 k €	+4.6%	179,8 k €	+11.9%	160,7 k €	+7.2%	149,9 k €	+9.7%	136,6 k €	+1.7%	134,4 k €
Total assets	8,1 M €	+3.5%	7,9 M €	+2.2%	7,7 M €	+73.4%	4,4 M €	+11.5%	4 M €	+234%	1,2 M €	+0.3%	1,2 M €	-0.6%	1,2 M €	+1.3%	1,2 M €	+220%	367,1 k €	+4.8%	350,4 k €	+4.0%	337 k €	+5.7%	318,8 k €	+4.7%	304,4 k €	+8.2%	281,5 k €	+5.2%	267,6 k €	-0.3%	268,3 k €	-4.7%	281,6 k €
Cash	4,2 M €	+7.5%	3,9 M €	-17.9%	4,8 M €	+201%	1,6 M €	+47.4%	1,1 M €	+2913%	35,9 k €	+5.4%	34 k €	-16.9%	40,9 k €	+168%	15,3 k €	-86.9%	116,7 k €	+16.7%	100 k €	+15.6%	86,5 k €	+26.5%	68,4 k €	+26.7%	54 k €	+75.4%	30,8 k €	+79.3%	17,2 k €	+77.8%	9,7 k €	-69.0%	31,2 k €
Debts	1,4 M €	-5.6%	1,5 M €	-12.6%	1,7 M €	+135%	741,9 k €	-3.6%	769,8 k €	-12.0%	874,5 k €	-5.4%	924,7 k €	-4.5%	967,8 k €	-6.2%	1 M €	+570%	154 k €	+6.1%	145,1 k €	+5.0%	138,2 k €	+5.8%	130,7 k €	+4.9%	124,6 k €	+3.2%	120,8 k €	+2.6%	117,7 k €	-10.6%	131,7 k €	-10.5%	147,2 k €
Other
Workforce	0,0 ETP		0,0 ETP		0,0 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 31/12/2025 · 3 active · 15 ended

Active mandates

Christiane Goethals

Director · since 01 octobre 1996

Active

Ghislenus De Sutter

Director · since 01 octobre 1996

Active

Luc De Sutter

Director · since 01 octobre 1996

Active

Ended mandates

Luc De Sutter

Managing director · since 24 juin 2015

Ended

Christiane Goethals

Managing director · since 01 octobre 1996

Ended

Ghislain De Sutter

Managing director · since 01 octobre 1996

Ended

Luc De Sutter

Managing director · since 01 octobre 1996

Ended

At this address

Other companies at this address

Company	CBE no.
DESUMAT● Active	0770.682.717
DE SUTTER - GOETHALS● Active	0462.429.286
De Sutter Junior● Active	1018.190.687
Desuvastgoed● Active	1015.761.531
GroSuMat● Active	0767.746.387
MOTJE● Active	0456.903.751

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged 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	01/07/2026	27/05/2025	29/05/2024	08/06/2023	25/05/2022	23/06/2021
General meeting	30/06/2026	28/04/2025	29/04/2024	24/04/2023	25/04/2022	26/04/2021
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
Abridged model	31/12/2025	30/06/2026	01/07/2026	Dutch	PDF
Abridged model	31/12/2024	28/04/2025	27/05/2025	Dutch	PDF
Abridged model	31/12/2023	29/04/2024	29/05/2024	Dutch	PDF
Micro model	31/12/2022	24/04/2023	08/06/2023	Dutch	PDF
Micro model	31/12/2021	25/04/2022	25/05/2022	Dutch	PDF
Micro model	31/12/2020	26/04/2021	23/06/2021	Dutch	PDF
Micro model	31/12/2019	27/04/2020	25/06/2020	Dutch	PDF
Micro model	31/12/2018	29/04/2019	22/06/2019	Dutch	PDF
Micro model	31/12/2017	30/04/2018	16/06/2018	Dutch	PDF
Micro model	31/12/2016	24/04/2017	23/06/2017	Dutch	PDF
Abridged model	31/12/2015	25/04/2016	18/06/2016	Dutch	PDF
Abridged model	31/12/2014	27/04/2015	19/06/2015	Dutch	PDF
Abridged model	31/12/2013	28/04/2014	22/05/2014	Dutch	PDF
Abridged model	31/12/2012	29/04/2013	23/06/2013	Dutch	PDF
Abridged model	31/12/2011	30/04/2012	19/06/2012	Dutch	PDF
Abridged model	31/12/2010	25/04/2011	22/06/2011	Dutch	PDF
Abridged model	31/12/2009	26/04/2010	25/06/2010	Dutch	PDF
Abridged model	31/12/2008	27/04/2009	12/06/2009	Dutch	PDF
Abridged model	31/12/2007	28/04/2008	17/06/2008	Dutch	PDF
Abridged model	31/12/2006	30/04/2007	05/06/2007	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 31/12/2025 · 3 active · 15 ended

Active mandates

Christiane Goethals

Director · since 01 octobre 1996

Active

Ghislenus De Sutter

Director · since 01 octobre 1996

Active

Luc De Sutter

Director · since 01 octobre 1996

Active

Ended mandates

Luc De Sutter

Managing director · since 24 juin 2015

Ended

Christiane Goethals

Managing director · since 01 octobre 1996

Ended

Ghislain De Sutter

Managing director · since 01 octobre 1996

Ended

Luc De Sutter

Managing director · since 01 octobre 1996

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring12/07/2021
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring21/05/2021
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
PDF
Mandates19/04/2021
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Mandates10/07/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/05/2015
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares18/01/2012
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates13/08/2009
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares14/03/2005
ALGEMENE VERGADERING - KAPITAAL - AANDELEN - 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 2025401,3 k €↑
2024
Annual accounts 2024383,5 k €↓
2023
Annual accounts 20231,8 M €↑
2022
Annual accounts 2022481,9 k €↑
2021
Annual accounts 2021481,1 k €↑
2018
Annual accounts 201841,2 k €↑
2017
Annual accounts 201736,2 k €↓
2016
Annual accounts 201680 k €↑
2015
Annual accounts 2015-69,5 k €↓
2014
Annual accounts 20147,8 k €↑
2013
Annual accounts 20136,6 k €↓
2012
Annual accounts 201210,6 k €↑
2011
Annual accounts 20118,3 k €↓
2010
Annual accounts 201019,1 k €↑
2009
Annual accounts 200910,8 k €↓
2008
Annual accounts 200813,2 k €↑
2007
Annual accounts 20072,2 k €↑
2006
Annual accounts 2006-178,7 €
18/09/1996
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

WESTBEKE

Overview

What does WESTBEKE do?

Trend over 18 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