ACTIVE

TANDEL

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Financial year 2025 · closed on 31/12/2025

Net result

101 k €

+93.7% YoY

Gross margin

147,5 k €

+37.6% YoY

Equity

1,1 M €

-1.9% YoY

What does TANDEL do?

TANDEL is a Public limited company incorporated in 1998. Its main activity is: Market research and public opinion polling. Its registered office is in Evere.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0465.001.964

Incorporation

24/12/1998

Legal form

Public limited company

Registered office

Avenue du Frioul 32
1140 Evere · BruxellesSee on map

Contributed capital

300 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

73200Market research and public opinion polling· main 73200Market research and public opinion polling

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 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	147,5 k €	+37.6%	107,2 k €	-24.5%	141,9 k €	+75.0%	81,1 k €	+2.7%	79 k €	-26.7%	107,8 k €	+38.0%	78,1 k €	-58.2%	187,1 k €	-8.9%	205,4 k €	-13.7%	238 k €	+7.6%	221,2 k €	+15.9%	190,8 k €	+315%	46 k €	-44.8%	83,3 k €	-37.5%	133,3 k €	+101%	66,4 k €	+11.1%	59,7 k €	-15.5%	70,7 k €	-3.7%	73,5 k €	-33.9%	111,2 k €
EBITDA	142,1 k €	+39.3%	102 k €	-25.6%	137,2 k €	+78.6%	76,8 k €	+2.3%	75 k €	-29.8%	106,9 k €	+48.5%	72 k €	-60.7%	183,4 k €	-9.1%	201,7 k €	-13.8%	234,1 k €	+14.1%	205,2 k €	+9.6%	187,3 k €	+337%	42,9 k €	-46.6%	80,3 k €	-38.0%	129,6 k €	+98.0%	65,5 k €	+13.2%	57,8 k €	-15.4%	68,3 k €	-4.1%	71,3 k €	-34.5%	108,8 k €
Operating result	128,7 k €	+45.4%	88,5 k €	-28.4%	123,7 k €	+95.4%	63,3 k €	+2.2%	62 k €	-34.0%	93,9 k €	+64.2%	57,2 k €	-65.7%	166,8 k €	-9.9%	185,1 k €	-15.2%	218,4 k €	+15.0%	189,9 k €	+6.7%	177,9 k €	+432%	33,5 k €	-52.8%	70,9 k €	-41.0%	120,1 k €	+83.6%	65,5 k €	+13.2%	57,8 k €	-9.2%	63,7 k €	-4.4%	66,6 k €	-36.1%	104,2 k €
Net result	101 k €	+93.7%	52,1 k €	-41.5%	89,1 k €	+104%	43,8 k €	+6.9%	40,9 k €	-39.1%	67,2 k €	+92.1%	35 k €	-68.3%	110,3 k €	-9.7%	122,2 k €	-10.3%	136,2 k €	+22.2%	111,5 k €	+12.8%	98,8 k €	+2425%	3,9 k €	-89.4%	36,9 k €	-23.3%	48,1 k €	+597%	6,9 k €	-87.6%	55,5 k €	+1130%	4,5 k €	-93.3%	67,5 k €	+174%	24,6 k €
Balance sheet
Equity	1,1 M €	-1.9%	1,1 M €	-7.9%	1,2 M €	+8.2%	1,1 M €	+4.2%	1 M €	-9.1%	1,1 M €	+6.2%	1,1 M €	+3.3%	1 M €	+11.8%	934,3 k €	+0.2%	932,1 k €	-0.2%	933,9 k €	+13.6%	822,4 k €	+13.7%	723,6 k €	+0.5%	719,7 k €	+5.4%	682,8 k €	+7.6%	634,7 k €	+1.1%	627,8 k €	+9.7%	572,3 k €	+0.8%	567,8 k €	+13.5%	500,3 k €
Total assets	1,2 M €	-12.3%	1,4 M €	-1.7%	1,4 M €	+6.7%	1,3 M €	+3.5%	1,3 M €	-8.3%	1,4 M €	+5.6%	1,3 M €	-4.8%	1,4 M €	-0.4%	1,4 M €	-4.0%	1,4 M €	-1.5%	1,4 M €	+8.2%	1,3 M €	+9.6%	1,2 M €	+0.4%	1,2 M €	-24.9%	1,6 M €	+11.4%	1,5 M €	-12.7%	1,7 M €	+7.6%	1,5 M €	+11.1%	1,4 M €	+3.3%	1,3 M €
Cash	165,1 k €	+125%	73,5 k €	-78.1%	335,8 k €	+140%	139,7 k €	+69.4%	82,5 k €	-56.2%	188,4 k €	+108%	90,5 k €	-33.8%	136,7 k €	+2.7%	133,1 k €	-28.7%	186,8 k €	-0.7%	188,1 k €	+32.3%	142,2 k €	+660%	18,7 k €	+198%	6,3 k €	-59.1%	15,3 k €	-87.2%	119,7 k €	-78.3%	552,7 k €	+2745%	19,4 k €	-70.1%	65 k €	+129%	28,4 k €
Debts	124 k €	-54.3%	271,4 k €	+35.2%	200,7 k €	-0.5%	201,7 k €	+0.8%	200 k €	-4.4%	209,2 k €	+3.5%	202,1 k €	-33.1%	301,8 k €	-27.5%	416,6 k €	-12.2%	474,2 k €	-3.7%	492,5 k €	-0.1%	493 k €	+4.1%	473,6 k €	+0.4%	471,8 k €	-48.2%	910,2 k €	+14.9%	791,9 k €	-21.5%	1 M €	+3.5%	975,3 k €	+18.2%	825 k €	-2.7%	847,7 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 31/12/2025 · 5 active · 25 ended

Active mandates

Bruno LEDANT

Managing director · since 02 mai 2023 · until 02 mai 2029

Active

Frédéric LEDANT

Director · since 02 mai 2023 · until 02 mai 2029

Active

THIERRY LEDANT

Chairman of the board of directors · since 02 mai 2023 · until 02 mai 2029

Active

THIERRY LEDANT

Managing director · since 02 mai 2023 · until 02 mai 2029

Active

Virginie LEDANT

Director · since 02 mai 2023 · until 02 mai 2029

Active

Ended mandates

Virginie LEDANT

Managing director · since 02 mai 2023 · until 02 mai 2029

Ended

Bruno LEDANT

Managing director · since 02 mai 2017 · until 02 mai 2023

Ended

Frédéric LEDANT

Director · since 02 mai 2017 · until 02 mai 2023

Ended

THIERRY LEDANT

Managing director · since 02 mai 2017 · until 02 mai 2023

Ended

At this address

Other companies at this address

Company	CBE no.
La Ruche● Active	0757.962.849
NEUF - NEW - NEGEN● Active	0471.686.452
SIMEVERE● Active	0889.963.716

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	01/01/2025	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	30/06/2026	12/08/2025	17/06/2024	18/08/2023	04/08/2022	22/08/2021
General meeting	26/03/2026	27/03/2025	21/03/2024	23/03/2023	24/03/2022	25/03/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	26/03/2026	30/06/2026	French	PDF
Micro model	31/12/2024	27/03/2025	12/08/2025	French	PDF
Micro model	31/12/2023	21/03/2024	17/06/2024	French	PDF
Micro model	31/12/2022	23/03/2023	18/08/2023	French	PDF
Micro model	31/12/2021	24/03/2022	04/08/2022	French	PDF
Micro model	31/12/2020	25/03/2021	22/08/2021	French	PDF
Micro model	31/12/2019	19/03/2020	29/10/2020	French	PDF
Micro model	31/12/2018	28/03/2019	29/08/2019	French	PDF
Micro model	31/12/2017	22/03/2018	30/08/2018	French	PDF
Micro model	31/12/2016	02/05/2017	29/08/2017	French	PDF
Abridged model	31/12/2015	02/05/2016	18/08/2016	French	PDF
Abridged model	31/12/2014	04/05/2015	31/08/2015	French	PDF
Abridged model	31/12/2013	27/03/2014	30/07/2014	French	PDF
Abridged model	31/12/2012	30/03/2013	16/07/2013	French	PDF
Abridged model	31/12/2011	22/03/2012	24/08/2012	French	PDF
Abridged model	31/12/2010	24/03/2011	12/07/2011	French	PDF
Abridged model	31/12/2009	27/03/2010	24/08/2010	French	PDF
Abridged model	31/12/2008	26/03/2009	26/08/2009	French	PDF
Abridged model	31/12/2007	27/03/2008	18/07/2008	French	PDF
Abridged model	31/12/2006	22/03/2007	21/06/2007	French	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 31/12/2025 · 5 active · 25 ended

Active mandates

Bruno LEDANT

Managing director · since 02 mai 2023 · until 02 mai 2029

Active

Frédéric LEDANT

Director · since 02 mai 2023 · until 02 mai 2029

Active

THIERRY LEDANT

Chairman of the board of directors · since 02 mai 2023 · until 02 mai 2029

Active

THIERRY LEDANT

Managing director · since 02 mai 2023 · until 02 mai 2029

Active

Virginie LEDANT

Director · since 02 mai 2023 · until 02 mai 2029

Active

Ended mandates

Virginie LEDANT

Managing director · since 02 mai 2023 · until 02 mai 2029

Ended

Bruno LEDANT

Managing director · since 02 mai 2017 · until 02 mai 2023

Ended

Frédéric LEDANT

Director · since 02 mai 2017 · until 02 mai 2023

Ended

THIERRY LEDANT

Managing director · since 02 mai 2017 · until 02 mai 2023

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates21/11/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates15/02/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates26/08/2011
DEMISSIONS, NOMINATIONS
PDF
Mandates14/06/2011
DEMISSIONS, NOMINATIONS
PDF
Mandates13/11/2008
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Registered office16/01/2003
SIEGE SOCIAL - CAPITAL, ACTIONS
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 2025101 k €↑
2024
Annual accounts 202452,1 k €↓
2023
Annual accounts 202389,1 k €↑
2022
Annual accounts 202243,8 k €↑
2021
Annual accounts 202140,9 k €↓
2020
Annual accounts 202067,2 k €↑
2019
Annual accounts 201935 k €↓
2018
Annual accounts 2018110,3 k €↓
2017
Annual accounts 2017122,2 k €↓
2016
Annual accounts 2016136,2 k €↑
2015
Annual accounts 2015111,5 k €↑
2014
Annual accounts 201498,8 k €↑
2013
Annual accounts 20133,9 k €↓
2012
Annual accounts 201236,9 k €↓
2011
Annual accounts 201148,1 k €↑
2010
Annual accounts 20106,9 k €↓
2009
Annual accounts 200955,5 k €↑
2008
Annual accounts 20084,5 k €↓
2007
Annual accounts 200767,5 k €↑
2006
Annual accounts 200624,6 k €
24/12/1998
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

TANDEL

Overview

What does TANDEL do?

Trend over 20 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