ACTIVE

HORECA PROJECTS LDF

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Financial year 2025 · closed on 31/12/2025

Net result

-242,3 €

-109.1% YoY

Gross margin

26,9 k €

-11.7% YoY

Equity

232,8 k €

-10.2% YoY

What does HORECA PROJECTS LDF do?

HORECA PROJECTS LDF is a Public limited company incorporated in 2001. Its registered office is in Tielt.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0475.752.633

Incorporation

02/10/2001

Legal form

Public limited company

Registered office

Tereikenstraat 3
8700 Tielt · FlandreSee on map

Contributed capital

135 000,00 €

Latest accounts

31/12/2025

Joint committees (1)

14904

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	26,9 k €	-11.7%	30,5 k €	-50.1%	61,1 k €	+9.1%	56 k €	-48.9%	109,6 k €	+414%	21,3 k €	-89.0%	194,6 k €	+27.9%	152,2 k €	-4.3%	159,1 k €	-2.5%	163,2 k €	-14.8%	191,4 k €	-11.1%	215,4 k €	-10.7%	241,1 k €	-3.8%	250,7 k €	+5.9%	236,8 k €	+17.6%	201,3 k €	+95.9%	102,8 k €	+2.4%	100,4 k €	+0.1%	100,3 k €
EBITDA	24,5 k €	-12.4%	28 k €	-41.2%	47,6 k €	-3.4%	49,3 k €	-53.5%	106 k €	+547%	16,4 k €	-90.3%	168,2 k €	+124%	75,1 k €	-0.8%	75,8 k €	+3.6%	73,1 k €	-15.3%	86,3 k €	-33.2%	129,3 k €	-11.7%	146,4 k €	+7.7%	135,9 k €	-4.7%	142,6 k €	+9.8%	129,9 k €	+216%	41,1 k €	-24.1%	54,1 k €	-11.6%	61,2 k €
Operating result	204,4 €	-95.8%	4,9 k €	+1.0%	4,8 k €	+77.8%	2,7 k €	-95.8%	64,1 k €	+328%	-28,1 k €	-126%	107,2 k €	+200%	35,7 k €	+125%	15,9 k €	+260%	-9,9 k €	-16497%	-59,8 €	-100%	18 k €	-48.5%	35 k €	-2.9%	36 k €	-31.7%	52,7 k €	-3.7%	54,7 k €	+461%	-15,1 k €	-344%	6,2 k €	-67.9%	19,4 k €
Net result	-242,3 €	-109%	2,7 k €	+1111%	220,5 €	-42.0%	380,4 €	-99.3%	56,2 k €	+280%	-31,1 k €	-142%	74,2 k €	+246%	21,4 k €	+94.7%	11 k €	+144%	-24,9 k €	-8404%	300,3 €	-97.0%	9,9 k €	-57.0%	23 k €	+16.1%	19,8 k €	-59.2%	48,5 k €	+5.0%	46,2 k €	+383%	-16,3 k €	-343%	6,7 k €	-61.6%	17,4 k €
Balance sheet
Equity	232,8 k €	-10.2%	259,3 k €	-10.6%	290,1 k €	+0.1%	289,9 k €	+0.1%	289,5 k €	+23.2%	234,9 k €	-11.7%	266,1 k €	+38.7%	191,8 k €	+12.6%	170,4 k €	+6.9%	159,4 k €	-13.5%	184,3 k €	+0.2%	184 k €	+5.7%	174,2 k €	+15.2%	151,2 k €	+15.1%	131,4 k €	+58.6%	82,9 k €	+126%	36,7 k €	-30.8%	53 k €	+14.5%	46,3 k €
Total assets	247,2 k €	-14.7%	289,8 k €	-21.8%	370,4 k €	-2.0%	377,9 k €	-9.6%	418,2 k €	+17.6%	355,7 k €	-12.7%	407,7 k €	+23.7%	329,6 k €	-4.9%	346,4 k €	-0.2%	347 k €	+58.1%	219,6 k €	-16.5%	263 k €	-4.7%	276,1 k €	+2.2%	270,2 k €	+3.4%	261,3 k €	+12.6%	232 k €	+46.4%	158,5 k €	+22.3%	129,5 k €	+10.1%	117,7 k €
Cash	29,4 k €	-46.2%	54,6 k €	+18.8%	46 k €	+75.3%	26,2 k €	-57.0%	61,1 k €	+324%	14,4 k €	-73.8%	55,1 k €	-34.2%	83,7 k €	+35.9%	61,6 k €	+58.4%	38,9 k €	-10.6%	43,5 k €	-24.6%	57,7 k €	+268%	15,7 k €	+86.7%	8,4 k €	+266%	2,3 k €	-78.4%	10,6 k €	+65.5%	6,4 k €	+31.0%	4,9 k €	-51.0%	10 k €
Debts	14,4 k €	-49.5%	28,6 k €	-62.5%	76,3 k €	-13.3%	88 k €	-24.3%	116,2 k €	+2.7%	113,2 k €	-16.3%	135,3 k €	+2.6%	131,9 k €	-22.2%	169,5 k €	-6.6%	181,5 k €	+503%	30,1 k €	-60.0%	75,3 k €	-24.9%	100,2 k €	-15.0%	117,9 k €	-8.6%	129 k €	-13.5%	149,1 k €	+26.4%	118 k €	+54.1%	76,5 k €	+7.2%	71,4 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		0,3 ETP	-70.0%	1,0 ETP	0.0%	1,0 ETP	+233%	0,3 ETP		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 11 ended

Active mandates

Dirk Martens

Managing director

Active

Filip De Vrieze

Managing director

Active

Freek De Vrieze

Director

Active

Ended mandates

Dirk Martens

Managing director · since 13 février 2019 · until 13 mai 2025

Ended

Filip De Vrieze

Managing director · since 13 février 2019 · until 13 mai 2025

Ended

Freek De Vrieze

Director · since 13 février 2019 · until 13 mai 2025

Ended

Freek De Vrieze

Director · since 01 avril 2017 · until 12 février 2019

Ended

At this address

Other companies at this address

Company	CBE no.
MUSIC 4 FUN● Active	0508.887.734

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	01/01/2025	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	30/06/2025	28/06/2024	30/06/2023	30/06/2022	30/06/2021
General meeting	12/05/2026	13/05/2025	14/05/2024	09/05/2023	10/05/2022	11/05/2021
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
Abridged model	31/12/2025	12/05/2026	30/06/2026	Dutch	PDF
Abridged model	31/12/2024	13/05/2025	30/06/2025	Dutch	PDF
Abridged model	31/12/2023	14/05/2024	28/06/2024	Dutch	PDF
Abridged model	31/12/2022	09/05/2023	30/06/2023	Dutch	PDF
Abridged model	31/12/2021	10/05/2022	30/06/2022	Dutch	PDF
Abridged model	31/12/2020	11/05/2021	30/06/2021	Dutch	PDF
Abridged model	31/12/2019	12/05/2020	30/06/2020	Dutch	PDF
Micro model	30/09/2018	12/02/2019	21/02/2019	Dutch	PDF
Micro model	30/09/2017	13/02/2018	01/03/2018	Dutch	PDF
Abridged model	30/09/2016	14/02/2017	21/03/2017	Dutch	PDF
Abridged model	30/09/2015	09/02/2016	09/02/2016	Dutch	PDF
Abridged model	30/09/2014	10/02/2015	10/02/2015	Dutch	PDF
Abridged model	30/09/2013	11/02/2014	10/03/2014	Dutch	PDF
Abridged model	30/09/2012	12/02/2013	03/04/2013	Dutch	PDF
Abridged model	30/09/2011	14/02/2012	01/03/2012	Dutch	PDF
Abridged model	30/09/2010	08/02/2011	15/02/2011	Dutch	PDF
Abridged model	30/09/2009	09/02/2010	16/03/2010	Dutch	PDF
Abridged model	30/09/2008	10/02/2009	03/03/2009	Dutch	PDF
Abridged model	30/09/2007	12/02/2008	17/03/2008	Dutch	PDF
Abridged model	30/09/2006	13/02/2007	06/03/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

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 · 3 active · 11 ended

Active mandates

Dirk Martens

Managing director

Active

Filip De Vrieze

Managing director

Active

Freek De Vrieze

Director

Active

Ended mandates

Dirk Martens

Managing director · since 13 février 2019 · until 13 mai 2025

Ended

Filip De Vrieze

Managing director · since 13 février 2019 · until 13 mai 2025

Ended

Freek De Vrieze

Director · since 13 février 2019 · until 13 mai 2025

Ended

Freek De Vrieze

Director · since 01 avril 2017 · until 12 février 2019

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring06/08/2024
Buitengewone algemene vergadering — Partiële splitsing van NV “HORECA
PDF
Restructuring21/05/2024
Neerlegging splitsingsvoorstel
PDF
Restructuring10/09/2019
DOEL - BOEKJAAR - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring24/06/2019
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates11/03/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/04/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/03/2013
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring24/01/2005
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - KAPITAAL - AANDELEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 2025-242,3 €↓
2024
Annual accounts 20242,7 k €↑
2023
Annual accounts 2023220,5 €↓
2022
Annual accounts 2022380,4 €↓
2021
Annual accounts 202156,2 k €↑
2020
Annual accounts 2020-31,1 k €↓
2019
Annual accounts 201974,2 k €↑
2018
Annual accounts 201821,4 k €↑
2017
Annual accounts 201711 k €↑
2016
Annual accounts 2016-24,9 k €↓
2015
Annual accounts 2015300,3 €↓
2014
Annual accounts 20149,9 k €↓
2013
Annual accounts 201323 k €↑
2012
Annual accounts 201219,8 k €↓
2011
Annual accounts 201148,5 k €↑
2010
Annual accounts 201046,2 k €↑
2009
Annual accounts 2009-16,3 k €↓
2008
Annual accounts 20086,7 k €↓
2007
Annual accounts 200717,4 k €
02/10/2001
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

HORECA PROJECTS LDF

Overview

What does HORECA PROJECTS LDF 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