ACTIVE

DEN AST

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Financial year 2025 · closed on 30/06/2025

Net result

9 M €

+163.9% YoY

Gross margin

-35 k €

-9.5% YoY

Equity

27,6 M €

+48.7% YoY

What does DEN AST do?

DEN AST is a Public limited company incorporated in 1999. Its registered office is in Asse.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0466.379.463

Incorporation

30/06/1999

Legal form

Public limited company

Registered office

Louwijn 18A
1730 Asse · FlandreSee on map

Contributed capital

5 000 000,00 €

Latest accounts

30/06/2025

Signals

ProfitableSolid equityLow riskPositive cashflow

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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	-35 k €	-9.5%	-32 k €	-649%	-4,3 k €	+47.9%	-8,2 k €	-110%	-3,9 k €	-100%	11,2 M €	+382489%	-2,9 k €	+19.0%	-3,6 k €	+10.8%	-4 k €	-136%	-1,7 k €	+55.5%	-3,9 k €	+71.3%	-13,5 k €	-854%	-1,4 k €	-40.3%	-1 k €	+93.5%	-15,5 k €	-1613%	-904 €	-7.7%	-839,6 €	+11.1%	-944 €	-2.1%	-924,9 €
EBITDA	-36 k €	-9.0%	-33 k €	-535%	-5,2 k €	+43.0%	-9,1 k €	-87.0%	-4,9 k €	-100%	11,2 M €	+295005%	-3,8 k €	+16.3%	-4,5 k €	+9.8%	-5 k €	-94.3%	-2,6 k €	+46.6%	-4,8 k €	+66.2%	-14,3 k €	-514%	-2,3 k €	-21.0%	-1,9 k €	+88.2%	-16,4 k €	-801%	-1,8 k €	-0.1%	-1,8 k €	-1.2%	-1,8 k €	+3.2%	-1,9 k €
Operating result	-36 k €	-9.0%	-33 k €	-535%	-5,2 k €	+43.0%	-9,1 k €	-87.0%	-4,9 k €	-100%	11,2 M €	+295005%	-3,8 k €	+16.3%	-4,5 k €	+9.8%	-5 k €	-94.3%	-2,6 k €	+46.6%	-4,8 k €	+66.2%	-14,3 k €	-514%	-2,3 k €	-21.0%	-1,9 k €	+88.2%	-16,4 k €	-801%	-1,8 k €	-0.1%	-1,8 k €	-1.2%	-1,8 k €	+3.2%	-1,9 k €
Net result	9 M €	+164%	3,4 M €	+207%	1,1 M €	+2036%	52,1 k €	-86.1%	375,2 k €	-95.3%	8,1 M €	+30434%	26,4 k €	-47.5%	50,2 k €	+65.5%	30,4 k €	-34.9%	46,6 k €	+11.8%	41,7 k €	+30.3%	32 k €	-3.4%	33,1 k €	+108%	15,9 k €	-22.6%	20,5 k €	-22.8%	26,6 k €	-18.8%	32,8 k €	-5.1%	34,6 k €	+8.1%	32 k €
Balance sheet
Equity	27,6 M €	+48.7%	18,5 M €	+22.2%	15,2 M €	+7.5%	14,1 M €	+0.4%	14,1 M €	+2.7%	13,7 M €	+63.5%	8,4 M €	+0.3%	8,3 M €	+0.6%	8,3 M €	+0.4%	8,3 M €	+0.6%	8,2 M €	+0.5%	8,2 M €	+0.4%	8,1 M €	+0.4%	8,1 M €	+0.2%	8,1 M €	+371%	1,7 M €	+1.6%	1,7 M €	+2.0%	1,7 M €	+2.1%	1,6 M €
Total assets	35 M €	+30.3%	26,9 M €	+31.6%	20,4 M €	-5.4%	21,6 M €	+6.0%	20,4 M €	+5.5%	19,3 M €	+49.2%	12,9 M €	-0.8%	13,1 M €	+0.8%	13 M €	-0.7%	13 M €	-0.4%	13,1 M €	+8.7%	12,1 M €	+1.3%	11,9 M €	+8.3%	11 M €	+4.1%	10,6 M €	+195%	3,6 M €	+2.1%	3,5 M €	+1.0%	3,5 M €	+0.9%	3,4 M €
Cash	87,1 k €	+43.9%	60,5 k €	-64.5%	170,6 k €	-30.6%	245,7 k €	+1.2%	242,8 k €	-52.1%	507,2 k €	+1204%	38,9 k €	-35.6%	60,4 k €	+16.1%	52 k €	-23.5%	67,9 k €	-0.1%	68 k €	+166%	25,6 k €	-67.1%	77,8 k €	+418%	15 k €	+146%	6,1 k €	-48.8%	12 k €	+69.7%	7 k €	+8.9%	6,5 k €	+434%	1,2 k €
Debts	7,3 M €	-10.9%	8,2 M €	+58.8%	5,2 M €	-30.3%	7,4 M €	+19.1%	6,2 M €	+12.6%	5,5 M €	+23.7%	4,5 M €	-2.7%	4,6 M €	+0.1%	4,6 M €	-2.6%	4,7 M €	-1.6%	4,8 M €	+25.8%	3,8 M €	+2.6%	3,7 M €	+28.8%	2,9 M €	+17.1%	2,5 M €	+37.0%	1,8 M €	+2.5%	1,8 M €	-0.1%	1,8 M €	-0.1%	1,8 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 3 active · 6 ended

Active mandates

Jos Van Belle

Managing director · since 02 décembre 2019 · until 01 décembre 2025

Active

Rita De Vos

Director · since 02 décembre 2019 · until 01 décembre 2025

Active

Sibylle Van Belle

Director · since 02 décembre 2019 · until 01 décembre 2025

Active

Ended mandates

Jos Van Belle

Managing director · since 09 décembre 2013 · until 09 décembre 2019

Ended

Rita De Vos

Director · since 09 décembre 2013 · until 09 décembre 2019

Ended

Sibylle Van Belle

Director · since 09 décembre 2013 · until 09 décembre 2019

Ended

A & B

Managing director · since 10 décembre 2007 · until 09 décembre 2013 · 0429.149.081

Represented by Jos Van Belle

Ended

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	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	23/12/2025	27/01/2025	27/12/2023	26/12/2022	24/01/2022	29/12/2020
General meeting	08/12/2025	09/12/2024	11/12/2023	12/12/2022	13/12/2021	14/12/2020
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	30/06/2025	08/12/2025	23/12/2025	Dutch	PDF
Abridged model	30/06/2024	09/12/2024	27/01/2025	Dutch	PDF
Abridged model	30/06/2023	11/12/2023	27/12/2023	Dutch	PDF
Abridged model	30/06/2022	12/12/2022	26/12/2022	Dutch	PDF
Abridged model	30/06/2021	13/12/2021	24/01/2022	Dutch	PDF
Abridged model	30/06/2020	14/12/2020	29/12/2020	Dutch	PDF
Abridged model	30/06/2019	09/12/2019	09/12/2019	Dutch	PDF
Abridged model	30/06/2018	10/12/2018	10/12/2018	Dutch	PDF
Abridged model	30/06/2017	11/12/2017	11/12/2017	Dutch	PDF
Abridged model	30/06/2016	12/12/2016	12/12/2016	Dutch	PDF
Abridged model	30/06/2015	14/12/2015	14/12/2015	Dutch	PDF
Abridged model	30/06/2014	08/12/2014	15/12/2014	Dutch	PDF
Abridged model	30/06/2013	09/12/2013	13/12/2013	Dutch	PDF
Abridged model	30/06/2012	10/12/2012	10/12/2012	Dutch	PDF
Abridged model	30/06/2011	12/12/2011	26/12/2011	Dutch	PDF
Abridged model	30/06/2010	13/12/2010	15/12/2010	Dutch	PDF
Abridged model	30/06/2009	14/12/2009	28/12/2009	Dutch	PDF
Abridged model	30/06/2008	08/12/2008	10/12/2008	Dutch	PDF
Abridged model	30/06/2007	10/12/2007	12/12/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 30/06/2025 · 3 active · 6 ended

Active mandates

Jos Van Belle

Managing director · since 02 décembre 2019 · until 01 décembre 2025

Active

Rita De Vos

Director · since 02 décembre 2019 · until 01 décembre 2025

Active

Sibylle Van Belle

Director · since 02 décembre 2019 · until 01 décembre 2025

Active

Ended mandates

Jos Van Belle

Managing director · since 09 décembre 2013 · until 09 décembre 2019

Ended

Rita De Vos

Director · since 09 décembre 2013 · until 09 décembre 2019

Ended

Sibylle Van Belle

Director · since 09 décembre 2013 · until 09 décembre 2019

Ended

A & B

Managing director · since 10 décembre 2007 · until 09 décembre 2013 · 0429.149.081

Represented by Jos Van Belle

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/12/2019
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates31/12/2013
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares11/03/2011
CAPITAL, ACTIONS
PDF
Mandates27/12/2007
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/02/2007
ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Other11/12/2002
DIVERS
PDF
Capital / shares23/09/2002
KAPITAAL - AANDELEN
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 20259 M €↑
2024
Annual accounts 20243,4 M €↑
2023
Annual accounts 20231,1 M €↑
2022
Annual accounts 202252,1 k €↓
2021
Annual accounts 2021375,2 k €↓
2020
Annual accounts 20208,1 M €↑
2019
Annual accounts 201926,4 k €↓
2018
Annual accounts 201850,2 k €↑
2017
Annual accounts 201730,4 k €↓
2016
Annual accounts 201646,6 k €↑
2015
Annual accounts 201541,7 k €↑
2014
Annual accounts 201432 k €↓
2013
Annual accounts 201333,1 k €↑
2012
Annual accounts 201215,9 k €↓
2011
Annual accounts 201120,5 k €↓
2010
Annual accounts 201026,6 k €↓
2009
Annual accounts 200932,8 k €↓
2008
Annual accounts 200834,6 k €↑
2007
Annual accounts 200732 k €
30/06/1999
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

DEN AST

Overview

What does DEN AST 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