ACTIVE

X - FRAME

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Financial year 2025 · closed on 30/09/2025

Net result

45,3 k €

+14.9% YoY

Gross margin

81,4 k €

+14.2% YoY

Equity

592,7 k €

+8.3% YoY

What does X - FRAME do?

X - FRAME is a Private limited company incorporated in 1998. Its main activity is: Photographic activities. Its registered office is in Gent.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0463.546.964

Incorporation

11/06/1998

Legal form

Private limited company

Registered office

James Ensorlaan 3
9051 Gent · FlandreSee on map

Contributed capital

6 200,00 €

Latest accounts

30/09/2025

Activities (NACE)

74201Photographic activities· main 74201Photographic activities 74811Other professional, scientific and technical activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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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	81,4 k €	+14.2%	71,2 k €	-43.6%	126,3 k €	+43.0%	88,4 k €	-1.4%	89,6 k €	+0.0%	89,6 k €	-29.6%	127,3 k €	+10.4%	115,3 k €	+54.3%	74,7 k €	-19.9%	93,2 k €	+14.1%	81,7 k €	-24.3%	107,9 k €	+9.2%	98,8 k €	-17.6%	119,9 k €	+0.6%	119,2 k €	+9.4%	109 k €	+5.4%	103,4 k €	-1.0%	104,4 k €	-4.6%	109,4 k €
EBITDA	79,8 k €	+15.8%	68,9 k €	-44.5%	124,2 k €	+42.9%	86,9 k €	-1.5%	88,3 k €	+0.7%	87,7 k €	-29.0%	123,4 k €	+10.2%	112 k €	+56.9%	71,4 k €	-18.7%	87,8 k €	+10.8%	79,3 k €	-24.8%	105,5 k €	+9.4%	96,5 k €	-18.1%	117,7 k €	+0.9%	116,7 k €	+8.8%	107,2 k €	+5.6%	101,5 k €	-1.7%	103,3 k €	-4.6%	108,3 k €
Operating result	58,7 k €	+26.2%	46,5 k €	-55.5%	104,5 k €	+52.3%	68,6 k €	+1.6%	67,5 k €	+1.2%	66,7 k €	-35.3%	103,1 k €	+35.6%	76,1 k €	+70.8%	44,5 k €	-34.8%	68,3 k €	+25.1%	54,6 k €	-33.1%	81,5 k €	+8.2%	75,3 k €	-18.8%	92,8 k €	-3.2%	95,8 k €	+9.4%	87,6 k €	+112%	41,2 k €	-55.0%	91,6 k €	-0.8%	92,3 k €
Net result	45,3 k €	+14.9%	39,4 k €	-47.9%	75,7 k €	+49.8%	50,5 k €	+2.3%	49,4 k €	+1.0%	48,9 k €	-33.5%	73,6 k €	+43.9%	51,1 k €	+109%	24,5 k €	-39.5%	40,4 k €	+26.4%	32 k €	-40.3%	53,6 k €	+8.5%	49,4 k €	-16.8%	59,3 k €	-1.3%	60,2 k €	+9.1%	55,2 k €	+82.5%	30,2 k €	-58.0%	72 k €	+10.8%	65 k €
Balance sheet
Equity	592,7 k €	+8.3%	547,4 k €	+7.8%	508 k €	+16.7%	435,3 k €	+12.1%	388,2 k €	+3.7%	374,4 k €	+13.6%	329,5 k €	-54.7%	726,6 k €	+7.0%	679 k €	+3.7%	654,5 k €	+6.6%	614,1 k €	+5.5%	582,2 k €	+0.2%	580,9 k €	+9.3%	531,5 k €	+12.6%	472,2 k €	+14.5%	412,3 k €	+15.3%	357,6 k €	+8.2%	330,4 k €	+25.0%	264,3 k €
Total assets	610,2 k €	+2.4%	596,1 k €	+6.8%	558,1 k €	+19.2%	468,3 k €	+11.5%	420,2 k €	+3.9%	404,4 k €	+10.3%	366,6 k €	-52.4%	770,7 k €	+7.7%	715,6 k €	+0.7%	710,5 k €	-12.3%	810,5 k €	+2.4%	791,3 k €	+8.8%	727,4 k €	+5.9%	686,9 k €	+6.9%	642,3 k €	+6.1%	605,2 k €	+3.1%	587,3 k €	+49.7%	392,2 k €	+16.9%	335,6 k €
Cash	172,7 k €	+223%	53,4 k €	-86.3%	390,4 k €	+12.4%	347,2 k €	+19.1%	291,4 k €	+14.4%	254,7 k €	+24.4%	204,7 k €	-11.5%	231,3 k €	+2.4%	226 k €	-0.1%	226,2 k €	-25.8%	304,8 k €	+34.7%	226,3 k €	+52.7%	148,2 k €	+84.8%	80,2 k €	-18.6%	98,4 k €	+111%	46,6 k €	+134%	19,9 k €	-91.7%	240,3 k €	+34.8%	178,2 k €
Debts	7,3 k €	-81.4%	39,4 k €	-0.5%	39,6 k €	+71.3%	23,1 k €	+8.3%	21,3 k €	+5.1%	20,3 k €	-26.3%	27,5 k €	-18.5%	33,8 k €	+43.7%	23,5 k €	-45.2%	42,9 k €	-75.4%	174,3 k €	-12.6%	199,4 k €	+45.0%	137,5 k €	-5.2%	145 k €	-10.0%	161,2 k €	-12.3%	183,9 k €	-18.5%	225,5 k €	+267%	61,5 k €	-13.3%	70,9 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

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

Active mandates

Xavier Vanpevenaege

Director

Active

Ended mandates

Xavier Vanpevenaege

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	03/03/2026	28/03/2025	29/03/2024	22/03/2023	31/03/2022	05/03/2021
General meeting	27/02/2026	28/02/2025	23/02/2024	24/02/2023	25/02/2022	26/02/2021
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	27/02/2026	03/03/2026	Dutch	PDF
Micro model	30/09/2024	28/02/2025	28/03/2025	Dutch	PDF
Micro model	30/09/2023	23/02/2024	29/03/2024	Dutch	PDF
Micro model	30/09/2022	24/02/2023	22/03/2023	Dutch	PDF
Micro model	30/09/2021	25/02/2022	31/03/2022	Dutch	PDF
Micro model	30/09/2020	26/02/2021	05/03/2021	Dutch	PDF
Micro model	30/09/2019	28/02/2020	16/03/2020	Dutch	PDF
Micro model	30/09/2018	22/02/2019	22/03/2019	Dutch	PDF
Micro model	30/09/2017	09/03/2018	29/03/2018	Dutch	PDF
Abridged model	30/09/2016	24/02/2017	17/03/2017	Dutch	PDF
Abridged model	30/09/2015	18/03/2016	25/03/2016	Dutch	PDF
Abridged model	30/09/2014	13/03/2015	27/03/2015	Dutch	PDF
Abridged model	30/09/2013	28/02/2014	14/03/2014	Dutch	PDF
Abridged model	30/09/2012	15/03/2013	22/03/2013	Dutch	PDF
Abridged model	30/09/2011	16/03/2012	06/04/2012	Dutch	PDF
Abridged model	30/09/2010	25/02/2011	18/03/2011	Dutch	PDF
Abridged model	30/09/2009	26/02/2010	12/03/2010	Dutch	PDF
Abridged model	30/09/2008	27/02/2009	14/03/2009	Dutch	PDF
Abridged model	30/09/2007	29/02/2008	25/03/2008	Dutch	PDF
Abridged model	30/09/2006	23/02/2007	09/03/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 1 active · 1 ended

Active mandates

Xavier Vanpevenaege

Director

Active

Ended mandates

Xavier Vanpevenaege

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other09/09/2019
WIJZIGING RECHTSVORM - ALGEMENE VERGADERING
PDF
Capital / shares10/04/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office22/09/2009
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares09/12/2004
KAPITAAL - AANDELEN - DOEL - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office28/08/2003
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 202545,3 k €↑
2024
Annual accounts 202439,4 k €↓
2023
Annual accounts 202375,7 k €↑
2022
Annual accounts 202250,5 k €↑
2021
Annual accounts 202149,4 k €↑
2020
Annual accounts 202048,9 k €↓
2019
Annual accounts 201973,6 k €↑
2018
Annual accounts 201851,1 k €↑
2017
Annual accounts 201724,5 k €↓
2016
Annual accounts 201640,4 k €↑
2015
Annual accounts 201532 k €↓
2014
Annual accounts 201453,6 k €↑
2013
Annual accounts 201349,4 k €↓
2012
Annual accounts 201259,3 k €↓
2011
Annual accounts 201160,2 k €↑
2010
Annual accounts 201055,2 k €↑
2009
Annual accounts 200930,2 k €↓
2008
Annual accounts 200872 k €↑
2007
Annual accounts 200765 k €
11/06/1998
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

X - FRAME

Overview

What does X - FRAME 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