ACTIVE

WINDEY

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Financial year 2025 · closed on 30/09/2025

Net result

1,3 M €

+170.0% YoY

Gross margin

3,9 M €

+42.9% YoY

Equity

2,2 M €

-3.3% YoY

Workforce

36,8 ETP

+8.6% YoY

What does WINDEY do?

WINDEY is a Public limited company incorporated in 1998. Its main activity is: Construction of roads and motorways. Its registered office is in Hamme (Vl.). It employs on average 36,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0463.407.008

Incorporation

20/05/1998

Legal form

Public limited company

Registered office

Zwaarveld 51
9220 Hamme (Vl.) · FlandreSee on map

Contributed capital

180 000,00 €

Latest accounts

30/09/2025

Average workforce

36,8 ETP

Activities (NACE)

42110Construction of roads and motorways· main 42110Construction of roads and motorways 42212Construction of utility projects for fluids 42212Construction of utility projects for fluids

Joint committees (5)

124
140
14003
14004
200

Contacts

2 public details availableLog in to view

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		2020		2019		2018		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	3,9 M €	+42.9%	2,7 M €	+7.8%	2,5 M €	+16.9%	2,2 M €	+11.8%	1,9 M €	+18.9%	1,6 M €	-32.4%	2,4 M €	+33.4%	1,8 M €	+266%	490,1 k €	-1.5%	497,5 k €	+4.6%	475,8 k €	-28.9%	669,2 k €	+141%	277,9 k €	-29.6%	394,6 k €	+118%	180,6 k €	+104%	88,6 k €	-72.3%	319,6 k €	-24.2%	421,6 k €
EBITDA	2 M €	+70.9%	1,2 M €	-14.4%	1,4 M €	+14.0%	1,2 M €	+18.6%	1 M €	+23.3%	830,6 k €	-48.3%	1,6 M €	+64.9%	974,1 k €	+4061%	23,4 k €	+1705%	1,3 k €	-97.5%	52,7 k €	-73.3%	197,1 k €	+475%	-52,5 k €	-128%	185,6 k €	+1340%	12,9 k €	+126%	-49,9 k €	-158%	86,6 k €	-58.6%	209,1 k €
Operating result	1,4 M €	+118%	659,6 k €	-31.4%	961,9 k €	+39.7%	688,6 k €	+112%	324,8 k €	+449%	59,1 k €	-90.3%	610,2 k €	+162%	232,8 k €	+895%	23,4 k €	+1705%	1,3 k €	-97.5%	52,7 k €	-73.3%	197,1 k €	+475%	-52,5 k €	-128%	184,4 k €	+1555%	11,1 k €	+117%	-66,8 k €	-199%	67,3 k €	-63.6%	184,8 k €
Net result	1,3 M €	+170%	479,9 k €	-39.2%	789,2 k €	+38.2%	570,8 k €	+126%	252,5 k €	+1128%	20,6 k €	-96.6%	599,5 k €	+294%	152,1 k €	+904%	15,1 k €	+794%	-2,2 k €	-132%	6,9 k €	-95.1%	138,9 k €	+221%	-114,5 k €	-189%	129,2 k €	+320855%	40,3 €	+100%	-41,5 k €	-37.5%	-30,2 k €	-132%	94 k €
Balance sheet
Equity	2,2 M €	-3.3%	2,3 M €	-6.4%	2,5 M €	+18.5%	2,1 M €	+18.1%	1,8 M €	+16.6%	1,5 M €	+1.4%	1,5 M €	+66.3%	904,8 k €	+50.6%	600,8 k €	+2.6%	585,6 k €	-0.4%	587,8 k €	+1.2%	581 k €	+31.4%	442,1 k €	-20.6%	556,6 k €	+42.3%	391 k €	+0.0%	391 k €	-9.6%	432,4 k €	-6.5%	462,6 k €
Total assets	5,8 M €	+21.9%	4,8 M €	-13.7%	5,5 M €	+6.7%	5,2 M €	+23.3%	4,2 M €	-2.2%	4,3 M €	-7.5%	4,6 M €	+9.4%	4,3 M €	+80.7%	2,4 M €	+19.2%	2 M €	-8.1%	2,1 M €	-0.8%	2,2 M €	+18.2%	1,8 M €	-15.2%	2,2 M €	+0.7%	2,1 M €	+1.4%	2,1 M €	-5.2%	2,2 M €	+6.9%	2,1 M €
Cash	355,6 k €	+256%	100 k €	-76.1%	418,9 k €	+197%	141,2 k €	-15.0%	166,1 k €	-48.8%	324,6 k €	+196%	109,6 k €	-14.5%	128,1 k €	+532%	20,3 k €	+832%	2,2 k €	-97.2%	78,8 k €	+270%	21,3 k €	+1613%	1,2 k €	-44.1%	2,2 k €	+267%	605,1 €	-97.0%	20,2 k €	+93.4%	10,5 k €	-47.3%	19,8 k €
Debts	3,5 M €	+44.7%	2,4 M €	-15.2%	2,8 M €	-7.8%	3,1 M €	+27.1%	2,4 M €	-12.7%	2,8 M €	-11.4%	3,1 M €	-5.5%	3,3 M €	+89.4%	1,8 M €	+26.3%	1,4 M €	-8.9%	1,5 M €	-1.2%	1,5 M €	+14.3%	1,3 M €	-14.1%	1,6 M €	-10.5%	1,8 M €	+1.7%	1,7 M €	-0.9%	1,7 M €	+10.4%	1,6 M €
Other
Workforce	36,8 ETP	+8.6%	33,9 ETP	+38.4%	24,5 ETP	+7.0%	22,9 ETP	+10.1%	20,8 ETP	0.0%	20,8 ETP	-4.6%	21,8 ETP	-2.7%	22,4 ETP	+38.3%	16,2 ETP	-11.5%	18,3 ETP	+15.8%	15,8 ETP	-12.7%	18,1 ETP	+35.1%	13,4 ETP	+509%	2,2 ETP	-67.2%	6,7 ETP	-24.7%	8,9 ETP	-16.0%	10,6 ETP	+14.0%	9,3 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 30/09/2025 · 6 active · 13 ended

Active mandates

Annemieken Saerens

Managing director

Active

Carlos De Bock

Director

Active

JAN WINDEY

Director · 0801.833.177

Represented by Jan Windey

Active

Katharine Saerens

Director

Active

Paulien Windey

Director

Active

WINDEY MANAGEMENT

Director · 0457.847.324

Represented by Annemieken Saerens

Active

Ended mandates

JAN WINDEY

Director · since 17 mai 2023 · 0801.833.177

Represented by Jan Windey

Ended

PAULIEN WINDEY

Director · since 01 janvier 2013

Ended

ANNEMIEKEN SAERENS

Managing director · since 01 avril 2012

Ended

CARLOS DE BOCK

Director · since 01 avril 2012

Ended

At this address

Other companies at this address

Company	CBE no.
JAN WINDEY● Active	0801.833.177
Tijdelijke Maatschap WINDEY-ELTA● Active	0803.058.149

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	20/05/2026	21/04/2025	29/04/2024	21/04/2023	28/04/2022	29/04/2021
General meeting	03/03/2026	04/03/2025	05/03/2024	07/03/2023	01/03/2022	02/03/2021
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
Abridged model	30/09/2025	03/03/2026	20/05/2026	Dutch	PDF
Abridged model	30/09/2024	04/03/2025	21/04/2025	Dutch	PDF
Abridged model	30/09/2023	05/03/2024	29/04/2024	Dutch	PDF
Abridged model	30/09/2022	07/03/2023	21/04/2023	Dutch	PDF
Abridged model	30/09/2021	01/03/2022	28/04/2022	Dutch	PDF
Abridged model	30/09/2020	02/03/2021	29/04/2021	Dutch	PDF
Abridged model	30/09/2019	03/03/2020	29/05/2020	Dutch	PDF
Abridged model	30/09/2018	05/03/2019	08/05/2019	Dutch	PDF
Abridged model	30/09/2017	25/01/2018	05/02/2018	Dutch	PDF
Abridged model	30/09/2016	07/03/2017	15/05/2017	Dutch	PDF
Abridged model	30/09/2015	01/03/2016	10/05/2016	Dutch	PDF
Abridged model	30/09/2014	03/03/2015	11/05/2015	Dutch	PDF
Abridged model	30/09/2013	04/03/2014	05/05/2014	Dutch	PDF
Abridged model	30/09/2012	05/03/2013	30/04/2013	Dutch	PDF
Abridged modelCorrection	30/09/2011	06/03/2012	04/06/2012	Dutch	PDF
Abridged model	30/09/2011	06/03/2012	27/04/2012	Dutch	PDF
Abridged model	30/09/2010	01/03/2011	02/05/2011	Dutch	PDF
Abridged model	30/09/2009	02/03/2010	28/04/2010	Dutch	PDF
Abridged model	30/09/2008	03/03/2009	30/03/2009	Dutch	PDF
Abridged model	30/09/2007	04/03/2008	27/03/2008	Dutch	PDF
Abridged model	30/09/2006	06/03/2007	23/03/2007	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 30/09/2025 · 6 active · 13 ended

Active mandates

Annemieken Saerens

Managing director

Active

Carlos De Bock

Director

Active

JAN WINDEY

Director · 0801.833.177

Represented by Jan Windey

Active

Katharine Saerens

Director

Active

Paulien Windey

Director

Active

WINDEY MANAGEMENT

Director · 0457.847.324

Represented by Annemieken Saerens

Active

Ended mandates

JAN WINDEY

Director · since 17 mai 2023 · 0801.833.177

Represented by Jan Windey

Ended

PAULIEN WINDEY

Director · since 01 janvier 2013

Ended

ANNEMIEKEN SAERENS

Managing director · since 01 avril 2012

Ended

CARLOS DE BOCK

Director · since 01 avril 2012

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates05/03/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/07/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/12/2020
MAATSCHAPPELIJKE ZETEL - DOEL - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates30/07/2018
ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
PDF
Other23/04/2018
BENAMING
PDF
Mandates02/02/2018
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring17/10/2017
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring17/10/2017
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
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 20251,3 M €↑
2024
Annual accounts 2024479,9 k €↓
2023
Annual accounts 2023789,2 k €↑
2022
Annual accounts 2022570,8 k €↑
2021
Annual accounts 2021252,5 k €↑
2020
Annual accounts 202020,6 k €↓
2019
Annual accounts 2019599,5 k €↑
2018
Annual accounts 2018152,1 k €↑
2016
Annual accounts 201615,1 k €↑
2015
Annual accounts 2015-2,2 k €↓
2014
Annual accounts 20146,9 k €↓
2013
Annual accounts 2013138,9 k €↑
2012
Annual accounts 2012-114,5 k €↓
2011
Annual accounts 2011129,2 k €↑
2010
Annual accounts 201040,3 €↑
2009
Annual accounts 2009-41,5 k €↓
2008
Annual accounts 2008-30,2 k €↓
2007
Annual accounts 200794 k €
20/05/1998
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

WINDEY

Overview

What does WINDEY 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