ACTIVE

NEVER FEAR SHADOWS

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Financial year 2025 · Closed on 31/12/2025

Net result265,3 k €+44,1 %over 1 year
Gross margin416,9 k €+67,3 %over 1 year
Equity1,9 M €-11,1 %over 1 year
Workforce0,0 ETP

Identity

Source · BCE/KBO

NEVER FEAR SHADOWS is a Private limited company incorporated in 1997. Its main activity is: Support activities to performing arts. Its registered office is in Kalmthout.

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0461.856.095
Incorporation
06/11/1997
Legal form
Private limited company
Registered office
Geusenbacklaan (Heide) 25
2920 Kalmthout · FlandreSee on map
Contributed capital
6 197,34 €
Latest accounts
31/12/2025
Average workforce
0,0 ETP
Joint committees (2)
  • 227
  • 22700
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

Financials

Source · NBB, 20 filings

Trend over 19 financial years

20252024202320222021
Income statement
Gross margin416,9 k €249,2 k €249,2 k €405,4 k €420,6 k €
EBITDA377,1 k €238,7 k €221,7 k €345,8 k €363,1 k €
Operating result343,7 k €205,5 k €189 k €298,5 k €317,7 k €
Net result265,3 k €184,1 k €133 k €238,3 k €211,7 k €
Balance sheet
Equity1,9 M €2,1 M €1,9 M €1,8 M €1,6 M €
Total assets2,8 M €3,2 M €3 M €3 M €2,7 M €
Cash272,1 k €109,1 k €61,5 k €165,2 k €157,8 k €
Debts898,2 k €1,1 M €1 M €1,1 M €1,1 M €
Other
Workforce0,0 ETP0,0 ETP1,0 ETP1,2 ETP1,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

1 active · 5 ended

Active mandates

Michiel Milbou

Director

Active

Ended mandates

Karel Van Kildonck

Manager · since 27 décembre 2016 · until 15 novembre 2017

Ended
Karel Van Kildonck

Manager · since 27 décembre 2016 · until 18 janvier 2018

Ended
Magdalena Kuczerawy

Manager · until 18 janvier 2018

Ended
Magdalena Kuczerawy

Manager

Ended

Full financial information

Source · NBB
202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date29/07/202629/09/202515/11/202422/12/202322/11/202224/05/2022
General meeting30/05/202625/09/202504/10/202409/10/202312/10/202213/05/2022
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings
ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202530/05/202629/07/2026DutchPDF
Abridged model31/12/202425/09/202529/09/2025DutchPDF
Abridged model31/12/202304/10/202415/11/2024DutchPDF
Abridged model31/12/202209/10/202322/12/2023DutchPDF
Abridged model31/12/202112/10/202222/11/2022DutchPDF
Abridged model31/12/202013/05/202224/05/2022DutchPDF
Abridged model31/12/201912/11/202024/11/2020DutchPDF
Abridged model31/12/201827/08/201920/09/2019DutchPDF
Micro model31/12/201715/10/201822/10/2018DutchPDF
Abridged model31/12/201621/08/201722/08/2017DutchPDF
Abridged model31/12/201525/10/201623/11/2016DutchPDF
Abridged model31/12/201430/05/201527/09/2015DutchPDF
Abridged model31/12/201331/05/201430/09/2014DutchPDF
Abridged model31/12/201225/05/201318/11/2013DutchPDF
Abridged model31/12/201126/05/201228/09/2012DutchPDF
Abridged model31/12/201028/05/201130/08/2011DutchPDF
Abridged model31/12/200929/05/201010/09/2010DutchPDF
Abridged model31/12/200830/05/200925/08/2009DutchPDF
Abridged model31/12/200731/05/200828/08/2008DutchPDF
Abridged model31/12/200626/05/200729/08/2007DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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.

Board of directors

Source · NBB, accounts to 31/12/2025

1 active · 5 ended

Active mandates

Michiel Milbou

Director

Active

Ended mandates

Karel Van Kildonck

Manager · since 27 décembre 2016 · until 15 novembre 2017

Ended
Karel Van Kildonck

Manager · since 27 décembre 2016 · until 18 janvier 2018

Ended
Magdalena Kuczerawy

Manager · until 18 janvier 2018

Ended
Magdalena Kuczerawy

Manager

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates10/03/2026
    WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates19/02/2018
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates20/12/2017
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates28/06/2017
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates28/04/2017
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates26/01/2017
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates18/03/2016
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office04/09/2013
    BENAMING - MAATSCHAPPELIJKE ZETEL - KAPITAAL - AANDELEN
    PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025265,3 k €↑
  2. 2024
    Annual accounts 2024184,1 k €↑
  3. 2023
    Annual accounts 2023133 k €↓
  4. 2022
    Annual accounts 2022238,3 k €↑
  5. 2021
    Annual accounts 2021211,7 k €↑
  6. 2020
    Annual accounts 2020122,6 k €↓
  7. 2018
    Annual accounts 2018187,5 k €↑
  8. 2017
    Annual accounts 2017114,7 k €↓
  9. 2016
    Annual accounts 2016193,7 k €↓
  10. 2015
    Annual accounts 2015202,8 k €↓
  11. 2014
    Annual accounts 2014349,9 k €↑
  12. 2013
    Annual accounts 201389,8 k €↓
  13. 2012
    Annual accounts 2012163,4 k €↓
  14. 2011
    Annual accounts 2011185,9 k €↑
  15. 2010
    Annual accounts 2010140,2 k €↓
  16. 2009
    Annual accounts 2009177,1 k €↑
  17. 2008
    Annual accounts 2008134,1 k €↓
  18. 2007
    Annual accounts 2007220,4 k €↑
  19. 2006
    Annual accounts 2006131,8 k €
  20. 06/11/1997
    IncorporationPrivate limited company