ACTIVE

ZAPPWARE

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Financial year 2025 · closed on 31/12/2025

Net result

105,3 k €

-41.3% YoY

Gross margin

6,6 M €

-14.0% YoY

Equity

2,8 M €

+4.0% YoY

Workforce

31,9 ETP

-13.8% YoY

What does ZAPPWARE do?

ZAPPWARE is a Public limited company incorporated in 2001. Its main activity is: Manufacture of plastic products. Its registered office is in Hasselt. It employs on average 31,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0475.533.392

Incorporation

27/08/2001

Legal form

Public limited company

Registered office

Ilgatlaan 21
3500 Hasselt · FlandreSee on map

Contributed capital

2 919 003,45 €

Latest accounts

31/12/2025

Average workforce

31,9 ETP

Activities (NACE)

22250Manufacture of plastic products· main 62010Computer programming activities 62020Computer consultancy activities 62100Computer programming, consultancy and related activities 62200Computer programming, consultancy and related activities 72220Research and experimental development on social sciences and humanities+7

Joint committees (2)

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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		2007		2006
Income statement
Gross margin	6,6 M €	-14.0%	7,7 M €		–		–		–		13,5 M €	+106%	6,5 M €	+24.2%	5,3 M €		–		–		–		–		–		–		–		–		1 M €	+80.9%	563,1 k €	-14.3%	656,8 k €
EBITDA	3,2 M €	-22.1%	4,1 M €	+56.9%	2,6 M €	-35.6%	4,1 M €	+4.6%	3,9 M €	-45.0%	7,1 M €	+97.0%	3,6 M €	+37.4%	2,6 M €	+29.1%	2 M €	+32.3%	1,5 M €	-1.5%	1,6 M €	+9.6%	1,4 M €	+118%	648,9 k €	-3.8%	674,7 k €	-17.7%	819,8 k €	+15.8%	708 k €	+185%	-830,8 k €	+3.4%	-860,1 k €	-12.3%	-765,8 k €
Operating result	292,1 k €	-12.3%	333,2 k €	+121%	-1,6 M €	-826%	223,1 k €	-13.8%	259 k €	-25.1%	345,9 k €	-8.0%	376,2 k €	-20.2%	471,5 k €	+232%	142,1 k €	+13.8%	125 k €	-77.7%	559,1 k €	-23.3%	728,9 k €	+290%	186,9 k €	-16.1%	222,7 k €	-65.3%	642,1 k €	-1.6%	652,5 k €	+171%	-915 k €	+2.9%	-942,2 k €	-9.3%	-862 k €
Net result	105,3 k €	-41.3%	179,4 k €	+110%	-1,9 M €	-4050%	47,5 k €	+0.2%	47,4 k €	+37.5%	34,5 k €	-80.7%	178,2 k €	-30.0%	254,4 k €	+389%	52,1 k €	-3.0%	53,7 k €	-88.3%	456,9 k €	-26.1%	618,1 k €	+351%	137 k €	-28.8%	192,3 k €	-67.7%	595,9 k €	+5.4%	565,4 k €	+154%	-1 M €	-3.9%	-1 M €	-11.4%	-903,8 k €
Balance sheet
Equity	2,8 M €	+4.0%	2,7 M €	+153%	1,1 M €	-64.1%	2,9 M €	+1.6%	2,9 M €	+1.7%	2,8 M €	+7.0%	2,6 M €	-27.6%	3,7 M €	+7.5%	3,4 M €	+1.8%	3,3 M €	+60.2%	2,1 M €	+28.0%	1,6 M €	+61.1%	1 M €	+15.7%	874,2 k €	+28.2%	682 k €	+317%	-313,9 k €	+64.3%	-879,4 k €	+14.0%	-1 M €	-6509%	-15,5 k €
Total assets	8,5 M €	+5.7%	8 M €	-15.9%	9,5 M €	-9.2%	10,5 M €	-5.2%	11,1 M €	+12.7%	9,8 M €	+5.3%	9,3 M €	+19.6%	7,8 M €	+12.9%	6,9 M €	+3.1%	6,7 M €	+19.1%	5,6 M €	+9.3%	5,2 M €	+83.3%	2,8 M €	+4.1%	2,7 M €	+34.2%	2 M €	+39.6%	1,4 M €	+108%	693,7 k €	+1.6%	682,8 k €	-15.0%	803,5 k €
Cash	342,6 k €	-49.2%	674,4 k €	+11.7%	603,7 k €	-40.7%	1 M €	+130%	442,9 k €	+44.9%	305,6 k €	-65.5%	884,7 k €	+90.7%	463,9 k €	-69.9%	1,5 M €	+90.7%	809,3 k €	+56.0%	518,9 k €	+41.1%	367,8 k €	+115%	171 k €	-36.1%	267,6 k €	-58.3%	641,3 k €	+135%	272,4 k €	+94.1%	140,3 k €	+23.2%	113,9 k €	-71.5%	400 k €
Debts	5 M €	+0.3%	5 M €	-37.3%	7,9 M €	+6.7%	7,4 M €	-5.5%	7,8 M €	+17.9%	6,7 M €	+7.4%	6,2 M €	+62.7%	3,8 M €	+14.7%	3,3 M €	+11.3%	3 M €	-4.1%	3,1 M €	-7.6%	3,4 M €	+94.2%	1,7 M €	+0.6%	1,7 M €	+32.1%	1,3 M €	-23.7%	1,7 M €	+10.8%	1,5 M €	-8.1%	1,7 M €	+105%	819 k €
Other
Workforce	31,9 ETP	-13.8%	37,0 ETP	-13.6%	42,8 ETP	-19.1%	52,9 ETP	-5.2%	55,8 ETP	+15.1%	48,5 ETP	+27.3%	38,1 ETP	+12.4%	33,9 ETP	+2.4%	33,1 ETP	-4.1%	34,5 ETP	+13.1%	30,5 ETP	+2.0%	29,9 ETP	-3.9%	31,1 ETP	+20.5%	25,8 ETP	+19.4%	21,6 ETP	+3.3%	20,9 ETP	-3.7%	21,7 ETP	-1.8%	22,1 ETP	+9.4%	20,2 ETP

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 31/12/2025 · 1 active · 53 ended

Active mandates

REINHART

Director · since 20 avril 2021

Active

Ended mandates

Jan REINHART

Director · since 20 avril 2021

Ended

Patrick Vos

Director · since 04 janvier 2019 · until 17 septembre 2021

Ended

EXPLAIN IT

Managing director · since 29 septembre 2015 · until 17 septembre 2021 · 0885.676.613

Represented by Patrick Vos

Ended

Interconnected Generation BVBA

Chairman of the board of directors · since 29 septembre 2015 · until 17 septembre 2021 · 0476.552.981

Represented by Pieter Vandekerckhove

Ended

At this address

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Full model	Full model	Full model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/04/2019
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	21 months
Filing date	30/07/2026	22/07/2025	12/07/2024	15/06/2023	30/06/2022	09/07/2021
General meeting	30/06/2026	30/06/2025	14/06/2024	09/06/2023	10/06/2022	28/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	30/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	22/07/2025	Dutch	PDF
Full model	31/12/2023	14/06/2024	12/07/2024	Dutch	PDF
Full model	31/12/2022	09/06/2023	15/06/2023	Dutch	PDF
Full model	31/12/2021	10/06/2022	30/06/2022	Dutch	PDF
Abridged model	31/12/2020	28/06/2021	09/07/2021	Dutch	PDF
Abridged model	31/03/2019	20/09/2019	20/10/2019	Dutch	PDF
Abridged model	31/03/2018	23/08/2018	10/09/2018	Dutch	PDF
Full model	31/03/2017	15/09/2017	02/10/2017	Dutch	PDF
Full model	31/03/2016	16/09/2016	28/09/2016	Dutch	PDF
Full model	31/03/2015	28/09/2015	06/10/2015	Dutch	PDF
Full model	31/03/2014	19/09/2014	16/10/2014	Dutch	PDF
Full model	31/03/2013	20/09/2013	30/10/2013	Dutch	PDF
Full model	31/03/2012	21/09/2012	19/10/2012	Dutch	PDF
Full model	31/03/2011	30/09/2011	25/10/2011	Dutch	PDF
Full model	31/03/2010	05/10/2010	13/10/2010	Dutch	PDF
Abridged model	31/03/2009	15/01/2010	05/02/2010	Dutch	PDF
Abridged model	31/12/2007	20/06/2008	25/07/2008	Dutch	PDF
Abridged model	31/12/2006	29/06/2007	27/07/2007	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 31/12/2025 · 1 active · 53 ended

Active mandates

REINHART

Director · since 20 avril 2021

Active

Ended mandates

Jan REINHART

Director · since 20 avril 2021

Ended

Patrick Vos

Director · since 04 janvier 2019 · until 17 septembre 2021

Ended

EXPLAIN IT

Managing director · since 29 septembre 2015 · until 17 septembre 2021 · 0885.676.613

Represented by Patrick Vos

Ended

Interconnected Generation BVBA

Chairman of the board of directors · since 29 septembre 2015 · until 17 septembre 2021 · 0476.552.981

Represented by Pieter Vandekerckhove

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Capital / shares13/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates09/08/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/08/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/05/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/04/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares28/12/2020
KAPITAAL - AANDELEN
PDF
Registered office03/12/2020
MAATSCHAPPELIJKE ZETEL
PDF
Mandates06/05/2020
ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - BOEKJAAR
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 2025105,3 k €↓
2024
Annual accounts 2024179,4 k €↑
2023
Annual accounts 2023-1,9 M €↓
2022
Annual accounts 202247,5 k €↑
2021
Annual accounts 202147,4 k €↑
2020
Annual accounts 202034,5 k €↓
2019
Annual accounts 2019178,2 k €↓
2018
Annual accounts 2018254,4 k €↑
2017
Annual accounts 201752,1 k €↓
2016
Annual accounts 201653,7 k €↓
2015
Annual accounts 2015456,9 k €↓
2014
Annual accounts 2014618,1 k €↑
2013
Annual accounts 2013137 k €↓
2012
Annual accounts 2012192,3 k €↓
2011
Annual accounts 2011595,9 k €↑
2010
Annual accounts 2010565,4 k €↑
2009
Annual accounts 2009-1 M €↓
2007
Annual accounts 2007-1 M €↓
2006
Annual accounts 2006-903,8 k €
27/08/2001
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

ZAPPWARE

Overview

What does ZAPPWARE do?

Trend over 19 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