ACTIVE

REAL UNITED

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Financial year 2025 · closed on 31/12/2025

Net result

6,7 M €

-1.3% YoY

Revenue

3,5 M €

-20.7% YoY

Equity

51,6 M €

+15.0% YoY

Workforce

11,9 ETP

-14.4% YoY

What does REAL UNITED do?

REAL UNITED is a Private limited company incorporated in 2001. Its registered office is in Veurne. It employs on average 11,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0474.278.431

Incorporation

07/03/2001

Legal form

Private limited company

Registered office

Monnikshoekstraat 21
8630 Veurne · FlandreSee on map

Contributed capital

16 060 000,00 €

Latest accounts

31/12/2025

Average workforce

11,9 ETP

Joint committees (7)

100
1000
119
200
2000
201
302

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	3,5 M €	-20.7%	4,4 M €	-22.4%	5,7 M €	+8.2%	5,3 M €	-0.3%	5,3 M €	+209%	1,7 M €	+9.7%	1,6 M €	+4.9%	1,5 M €	+0.6%	1,5 M €	+23.1%	1,2 M €	-40.1%	2 M €	-88.4%	17,2 M €	+73.8%	9,9 M €	-28.7%	13,9 M €	-16.5%	16,6 M €	-46.9%	31,3 M €	-10.7%	35,1 M €
EBITDA	1,1 M €	-36.1%	1,7 M €	-19.4%	2,1 M €	+14.9%	1,8 M €	+6.9%	1,7 M €	+330%	394,1 k €	-45.4%	721,7 k €	+6.4%	678,4 k €	-29.0%	956 k €	+39.2%	686,7 k €	+54.7%	443,8 k €	-51.7%	919 k €	+69.5%	542,1 k €	+64.5%	329,6 k €	-12.7%	377,4 k €	-75.3%	1,5 M €	+146%	620,1 k €
Operating result	1,1 M €	-31.2%	1,5 M €	-26.3%	2,1 M €	+31.0%	1,6 M €	+8.7%	1,5 M €	+617%	203,7 k €	-59.4%	501,7 k €	+1.1%	496,3 k €	-37.3%	791 k €	+51.1%	523,5 k €	+106%	254,2 k €	-65.6%	738,9 k €	+81.5%	407,2 k €	+1048%	35,5 k €	-56.5%	81,5 k €	-94.5%	1,5 M €	+152%	591,2 k €
Net result	6,7 M €	-1.3%	6,8 M €	+4.0%	6,6 M €	+683%	836,3 k €	-18.6%	1 M €	+44.4%	711,5 k €	+41.5%	502,9 k €	+13.9%	441,4 k €	-69.5%	1,4 M €	+362%	313,3 k €	-19.6%	389,6 k €	+21.9%	319,5 k €	+31.9%	242,2 k €	+1500%	15,1 k €	+590%	-3,1 k €	-100%	1 M €	+188%	350,4 k €
Balance sheet
Equity	51,6 M €	+15.0%	44,8 M €	+17.9%	38 M €	+20.8%	31,5 M €	+2.7%	30,6 M €	+32.9%	23,1 M €	+3.2%	22,3 M €	+283%	5,8 M €	+8.2%	5,4 M €	+36.7%	3,9 M €	+3.0%	3,8 M €	+11.1%	3,4 M €	+10.2%	3,1 M €	+4.1%	3 M €	+30.5%	2,3 M €	-0.1%	2,3 M €	+77.8%	1,3 M €
Total assets	60,6 M €	+7.1%	56,6 M €	-1.5%	57,5 M €	+8.1%	53,2 M €	+4.6%	50,8 M €	+76.5%	28,8 M €	+5.9%	27,2 M €	+256%	7,6 M €	-4.8%	8 M €	+6.6%	7,5 M €	-7.8%	8,2 M €	-3.7%	8,5 M €	-5.5%	9 M €	+17.7%	7,6 M €	+14.3%	6,7 M €	+13.7%	5,9 M €	+149%	2,4 M €
Cash	2,8 M €	+1958%	135,6 k €	-83.3%	811,4 k €	+331%	188,4 k €	-43.0%	330,7 k €	+16.7%	283,3 k €	-69.7%	934,1 k €	+89.8%	492,1 k €	-49.4%	972,3 k €	+224%	300 k €	+419%	57,8 k €	-83.4%	349,1 k €	-69.3%	1,1 M €	+274%	304,6 k €	+29.8%	234,6 k €	-23.2%	305,5 k €	+30.5%	234,1 k €
Debts	8,6 M €	-22.0%	11 M €	-41.4%	18,8 M €	-10.5%	21 M €	+6.9%	19,7 M €	+251%	5,6 M €	+16.7%	4,8 M €	+171%	1,8 M €	-31.1%	2,6 M €	-28.1%	3,6 M €	-17.3%	4,3 M €	-9.0%	4,8 M €	-17.6%	5,8 M €	+25.3%	4,6 M €	+5.7%	4,4 M €	+22.7%	3,6 M €	+239%	1,1 M €
Other
Workforce	11,9 ETP	-14.4%	13,9 ETP	-22.8%	18,0 ETP	-10.0%	20,0 ETP	-0.5%	20,1 ETP	+1336%	1,4 ETP	-60.0%	3,5 ETP	+6.1%	3,3 ETP	+560%	0,5 ETP		–		–		–		–		5,4 ETP	+3.8%	5,2 ETP	+2.0%	5,1 ETP	0.0%	5,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 15 ended

Active mandates

KLAAS VANDENDRIES

Director · since 23 février 2001

Active

Ended mandates

Klaas Vandendries

Manager · since 01 janvier 2009 · until 18 juin 2010

Ended

Klaas Vandendries

Manager · since 01 janvier 2009 · until 17 juin 2012

Ended

Liselotte Rombaut

Manager · since 01 janvier 2009 · until 18 juin 2010

Ended

Liselotte Rombaut

Manager · since 01 janvier 2009 · until 17 juin 2012

Ended

At this address

Other companies at this address

Company	CBE no.
Lea Projects● Active	0694.911.166
Real Industry● Active	0694.720.235
REAL INTERIM● Active	0807.817.384
REAL PROPERTY● Active	0668.938.130
REAL RETAIL● Active	0420.136.296
REAL SOLUTIONS● Active	1024.485.888
REAL TRADE● Active	0629.905.924

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Consolidated accounts
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	03/07/2026	16/07/2025	17/07/2024	19/07/2023	13/07/2022	23/07/2021
General meeting	30/06/2026	30/06/2025	30/06/2024	30/06/2023	30/06/2022	15/07/2021
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

34 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	03/07/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	16/07/2025	Dutch	PDF
Consolidated accounts	31/12/2024	25/07/2025	28/07/2025	Dutch	PDF
Full model	31/12/2023	30/06/2024	17/07/2024	Dutch	PDF
Consolidated accounts	31/12/2023	30/06/2024	12/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	19/07/2023	Dutch	PDF
Consolidated accounts	31/12/2022	30/06/2023	05/07/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	13/07/2022	Dutch	PDF
Consolidated accounts	31/12/2021	30/06/2022	14/07/2022	Dutch	PDF
Full model	31/12/2020	15/07/2021	22/07/2021	Dutch	PDF
Consolidated accounts	31/12/2020	15/07/2021	23/07/2021	Dutch	PDF
Full model	31/12/2019	27/07/2020	04/08/2020	Dutch	PDF
Consolidated accounts	31/12/2019	31/07/2020	04/08/2020	Dutch	PDF
Full modelCorrection	31/12/2018	30/07/2019	26/12/2019	Dutch	PDF
Full model	31/12/2018	30/07/2019	01/08/2019	Dutch	PDF
Consolidated accounts	31/12/2018	31/07/2019	28/08/2019	Dutch	PDF
Full model	31/12/2017	31/07/2018	31/07/2018	Dutch	PDF
Consolidated accounts	31/12/2017	31/07/2018	21/08/2018	Dutch	PDF
Full model	31/12/2016	28/09/2017	29/09/2017	Dutch	PDF
Consolidated accounts	31/12/2016	28/09/2017	29/09/2017	Dutch	PDF
Full model	31/12/2015	27/08/2016	29/08/2016	Dutch	PDF
Consolidated accounts	31/12/2015	27/08/2016	29/08/2016	Dutch	PDF
Full model	31/12/2014	18/08/2015	21/08/2015	Dutch	PDF
Consolidated accounts	31/12/2014	18/08/2015	19/08/2015	Dutch	PDF

View all 34 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 1 active · 15 ended

Active mandates

KLAAS VANDENDRIES

Director · since 23 février 2001

Active

Ended mandates

Klaas Vandendries

Manager · since 01 janvier 2009 · until 18 juin 2010

Ended

Klaas Vandendries

Manager · since 01 janvier 2009 · until 17 juin 2012

Ended

Liselotte Rombaut

Manager · since 01 janvier 2009 · until 18 juin 2010

Ended

Liselotte Rombaut

Manager · since 01 janvier 2009 · until 17 juin 2012

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/04/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - DOEL - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/10/2021
ONTSLAGEN - BENOEMINGEN
PDF
Registered office04/02/2020
MAATSCHAPPELIJKE ZETEL
PDF
Mandates28/01/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/04/2017
BENAMING - MAATSCHAPPELIJKE ZETEL - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares30/01/2017
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 20256,7 M €↓
01/01/2025
nominationBV VCLJ Bedrijfsrevisoren — commissaris
2024
Annual accounts 20246,8 M €↑
30/06/2024
nominationJacques STEYAERT — commissaris
2023
Annual accounts 20236,6 M €↑
2022
Annual accounts 2022836,3 k €↓
2021
Annual accounts 20211 M €↑
2017
Annual accounts 2017711,5 k €↑
2016
Annual accounts 2016502,9 k €↑
2016
Name changeREAL UNITED
2015
Annual accounts 2015441,4 k €↓
2014
Annual accounts 20141,4 M €↑
2013
Annual accounts 2013313,3 k €↓
2012
Annual accounts 2012389,6 k €↑
2011
Annual accounts 2011319,5 k €↑
2010
Annual accounts 2010242,2 k €↑
2009
Annual accounts 200915,1 k €↑
2008
Annual accounts 2008-3,1 k €↓
2007
Annual accounts 20071 M €↑
2006
Annual accounts 2006350,4 k €
2006
Name changeDEVAN TRADING
07/03/2001
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

REAL UNITED

Overview

What does REAL UNITED do?

Trend over 17 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