ACTIVE

INDONAR

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Financial year 2025 · closed on 31/12/2025

Net result

1,2 M €

+449.2% YoY

Gross margin

298,5 k €

Equity

1,8 M €

+1.2% YoY

What does INDONAR do?

INDONAR is a Private limited company incorporated in 1997. Its registered office is in Stekene.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0462.073.851

Incorporation

10/12/1997

Legal form

Private limited company

Registered office

Bettestraat (STE) 27
9190 Stekene · FlandreSee on map

Contributed capital

6 200,00 €

Latest accounts

31/12/2025

Joint committees (2)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	298,5 k €		–		–		–		–		–		–		–		–		–		–		–		–		300,2 k €	+110%	143,2 k €	-3.8%	148,9 k €	+13.4%	131,2 k €	+13.0%	116,2 k €
EBITDA	75,3 k €	+22.1%	61,7 k €	+2.3%	60,3 k €	-73.4%	227 k €	-39.4%	374,7 k €	+113%	175,7 k €	-10.8%	197 k €	-30.9%	285 k €	+10.5%	258 k €	-4.3%	269,5 k €	+5.4%	255,6 k €	+2.4%	249,7 k €	+1.6%	245,8 k €	+11.1%	221,4 k €	+221%	68,9 k €	-6.9%	74,1 k €	+40.9%	52,5 k €	+0.8%	52,1 k €
Operating result	66,7 k €	+56.1%	42,8 k €	-18.0%	52,2 k €	-76.2%	218,8 k €	-40.1%	365,1 k €	+120%	165,8 k €	-11.4%	187 k €	-32.0%	275 k €	+10.2%	249,5 k €	-4.3%	260,8 k €	+5.6%	246,9 k €	+2.5%	241 k €	+1.6%	237,2 k €	+11.5%	212,7 k €	+250%	60,8 k €	-7.8%	65,9 k €	+48.5%	44,4 k €	+1.0%	44 k €
Net result	1,2 M €	+449%	220,6 k €	+35.8%	162,5 k €	-42.9%	284,6 k €	-37.9%	458,7 k €	+355%	100,9 k €	-7.5%	109 k €	-35.2%	168,2 k €	+11.0%	151,5 k €	+2.5%	147,8 k €	+6.0%	139,4 k €	+5.3%	132,5 k €	+2.7%	128,9 k €	+21.9%	105,7 k €	+255%	29,8 k €	+1.3%	29,4 k €	+43.8%	20,5 k €	+13.5%	18 k €
Balance sheet
Equity	1,8 M €	+1.2%	1,8 M €	+1.2%	1,8 M €	-9.1%	2 M €	+17.1%	1,7 M €	+45.7%	1,1 M €	-8.0%	1,2 M €	+9.6%	1,1 M €	+17.4%	965,3 k €	+18.6%	813,8 k €	+22.2%	666 k €	+26.5%	526,6 k €	+33.6%	394,1 k €	+48.6%	265,2 k €	-6.8%	284,5 k €	+11.7%	254,7 k €	+13.1%	225,2 k €	+10.0%	204,7 k €
Total assets	2,8 M €	-0.3%	2,9 M €	+10.3%	2,6 M €	-11.5%	2,9 M €	+10.0%	2,7 M €	+6.4%	2,5 M €	+3.4%	2,4 M €	-1.0%	2,4 M €	+66.3%	1,5 M €	-1.2%	1,5 M €	+5.9%	1,4 M €	-3.8%	1,5 M €	-1.1%	1,5 M €	-1.0%	1,5 M €	+137%	628,9 k €	+1.8%	617,9 k €	-1.9%	629,9 k €	-5.6%	667,6 k €
Cash	27,6 k €	+11.8%	24,7 k €	-84.3%	157,7 k €	+73.0%	91,2 k €	+111%	43,3 k €	+129%	18,9 k €	-55.7%	42,6 k €	+37.3%	31,1 k €	+1.1%	30,7 k €	+131%	13,3 k €	-11.4%	15 k €	-36.3%	23,5 k €	+222%	7,3 k €	-64.8%	20,8 k €	-19.2%	25,7 k €	+26.1%	20,4 k €	+316%	4,9 k €	-37.4%	7,8 k €
Debts	1 M €	-4.3%	1,1 M €	+30.2%	811,8 k €	-16.2%	968,5 k €	-2.0%	988,4 k €	-26.7%	1,3 M €	+15.4%	1,2 M €	-10.0%	1,3 M €	+167%	486,8 k €	-26.2%	659,6 k €	-7.8%	715,6 k €	-21.2%	908,5 k €	-14.2%	1,1 M €	-13.0%	1,2 M €	+258%	340 k €	-5.2%	358,8 k €	-10.8%	402,1 k €	-13.0%	462 k €
Other
Workforce	–		1,7 ETP	0.0%	1,7 ETP	-15.0%	2,0 ETP	0.0%	2,0 ETP	+11.1%	1,8 ETP	+28.6%	1,4 ETP	+40.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	-9.1%	1,1 ETP	-26.7%	1,5 ETP	+50.0%	1,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 8 ended

Active mandates

VD Pro Hold

Director · since 12 mars 2024 · 0718.933.217

Represented by Tom Van Wassenhove

Active

Ended mandates

VD PRO GROUP

Director · since 12 mars 2024 · 0774.807.888

Represented by Tom Van Wassenhove

Ended

VD Pro Hold

Director · since 12 mars 2024 · 0718.933.217

Represented by Kristof Versluys

Ended

Frans DONCKERS

Manager · since 04 décembre 1997

Ended

Frans Donckers

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
Van Steerteghem Banden● Active	0767.562.285

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	31/12/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	18 months	12 months	12 months	12 months	12 months	12 months
Filing date	12/05/2026	14/02/2025	11/01/2024	31/01/2023	13/01/2022	25/01/2021
General meeting	01/05/2026	17/12/2024	19/12/2023	31/12/2022	21/12/2021	30/12/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	01/05/2026	12/05/2026	Dutch	PDF
Full model	30/06/2024	17/12/2024	14/02/2025	Dutch	PDF
Full model	30/06/2023	19/12/2023	11/01/2024	Dutch	PDF
Full model	30/06/2022	31/12/2022	31/01/2023	Dutch	PDF
Full model	30/06/2021	21/12/2021	13/01/2022	Dutch	PDF
Full model	30/06/2020	30/12/2020	25/01/2021	Dutch	PDF
Full model	30/06/2019	17/12/2019	27/01/2020	Dutch	PDF
Full model	30/06/2018	18/12/2018	15/01/2019	Dutch	PDF
Full model	30/06/2017	19/12/2017	23/01/2018	Dutch	PDF
Full model	30/06/2016	20/12/2016	27/02/2017	Dutch	PDF
Full model	30/06/2015	15/12/2015	05/01/2016	Dutch	PDF
Full model	30/06/2014	16/12/2014	13/01/2015	Dutch	PDF
Full model	30/06/2013	17/12/2013	04/02/2014	Dutch	PDF
Full model	30/06/2012	18/12/2012	05/02/2013	Dutch	PDF
Abridged model	30/06/2011	19/10/2011	08/02/2012	Dutch	PDF
Abridged model	30/06/2010	21/12/2010	22/12/2010	Dutch	PDF
Abridged model	30/06/2009	15/12/2009	21/12/2009	Dutch	PDF
Abridged model	30/06/2008	16/12/2008	29/01/2009	Dutch	PDF
Abridged model	30/06/2007	18/12/2007	27/12/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 · 1 active · 8 ended

Active mandates

VD Pro Hold

Director · since 12 mars 2024 · 0718.933.217

Represented by Tom Van Wassenhove

Active

Ended mandates

VD PRO GROUP

Director · since 12 mars 2024 · 0774.807.888

Represented by Tom Van Wassenhove

Ended

VD Pro Hold

Director · since 12 mars 2024 · 0718.933.217

Represented by Kristof Versluys

Ended

Frans DONCKERS

Manager · since 04 décembre 1997

Ended

Frans Donckers

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other26/06/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates17/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Registered office11/06/2025
MAATSCHAPPELIJKE ZETEL
PDF
Registered office20/06/2024
MAATSCHAPPELIJKE ZETEL
PDF
Mandates26/04/2024
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
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 20251,2 M €↑
2024
Annual accounts 2024220,6 k €↑
2023
Annual accounts 2023162,5 k €↓
2022
Annual accounts 2022284,6 k €↓
2021
Annual accounts 2021458,7 k €↑
2019
Annual accounts 2019100,9 k €↓
2018
Annual accounts 2018109 k €↓
2017
Annual accounts 2017168,2 k €↑
2016
Annual accounts 2016151,5 k €↑
2015
Annual accounts 2015147,8 k €↑
2014
Annual accounts 2014139,4 k €↑
2013
Annual accounts 2013132,5 k €↑
2012
Annual accounts 2012128,9 k €↑
2011
Annual accounts 2011105,7 k €↑
2010
Annual accounts 201029,8 k €↑
2009
Annual accounts 200929,4 k €↑
2008
Annual accounts 200820,5 k €↑
2007
Annual accounts 200718 k €
10/12/1997
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

INDONAR

Overview

What does INDONAR 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