ACTIVE

GINSTBRONNEN

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Financial year 2025 · closed on 31/12/2025

Net result

202,6 k €

-12.0% YoY

Gross margin

2,5 M €

+6.4% YoY

Equity

2,5 M €

+9.0% YoY

Workforce

19,4 ETP

+2.6% YoY

What does GINSTBRONNEN do?

GINSTBRONNEN is a Public limited company incorporated in 2001. Its main activity is: Manufacture of soft drinks; production of mineral waters and other bottled waters. Its registered office is in Oosterzele. It employs on average 19,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0475.997.608

Incorporation

31/10/2001

Legal form

Public limited company

Registered office

Van Thorenburghlaan 21
9860 Oosterzele · FlandreSee on map

Contributed capital

600 000,00 €

Latest accounts

31/12/2025

Average workforce

19,4 ETP

Activities (NACE)

11070Manufacture of soft drinks; production of mineral waters and other bottled waters· main 11070Manufacture of soft drinks; production of mineral waters and other bottled waters 15980Manufacture of leather and related products 46349Wholesale of beverages 46349Wholesale of beverages 47252Retail sale of beverages in specialised stores+3

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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	2,5 M €	+6.4%	2,4 M €	+7.1%	2,2 M €	+28.6%	1,7 M €	+1.0%	1,7 M €	+16.3%	1,5 M €	+36.8%	1,1 M €	+10.9%	959 k €	+6.8%	898,1 k €	-1.4%	911 k €	+15.6%	788 k €	+16.8%	674,4 k €	-8.1%	734,1 k €	-17.5%	889,6 k €	+11.4%	798,2 k €	+2.9%	775,9 k €	+0.3%	773,4 k €	+31.3%	589,2 k €	-13.1%	677,8 k €	-8.4%	739,6 k €
EBITDA	1,3 M €	+10.0%	1,1 M €	+2.4%	1,1 M €	+19.2%	931,9 k €	-3.9%	970 k €	+26.7%	765,3 k €	+87.9%	407,3 k €	+4.1%	391,1 k €	+4.1%	375,8 k €	-0.6%	378 k €	+6.6%	354,5 k €	+59.3%	222,5 k €	-28.5%	311,1 k €	-29.9%	443,9 k €	+17.7%	377,1 k €	-1.2%	381,6 k €	-8.5%	417,1 k €	+62.3%	256,9 k €	-22.0%	329,5 k €	-11.2%	371 k €
Operating result	340,8 k €	-13.5%	394 k €	-12.8%	451,8 k €	+11.1%	406,7 k €	-25.9%	549 k €	+27.8%	429,6 k €	+3104%	13,4 k €	-61.0%	34,4 k €	-25.1%	45,9 k €	+2.1%	44,9 k €	+82.9%	24,6 k €	+258%	-15,5 k €	-144%	35,6 k €	-53.6%	76,7 k €	+181%	27,2 k €	+58.2%	17,2 k €	-10.0%	19,1 k €	+120%	-95,8 k €	-310%	45,7 k €	+19.0%	38,4 k €
Net result	202,6 k €	-12.0%	230,1 k €	-25.0%	306,7 k €	+7.4%	285,6 k €	-34.3%	434,5 k €	+27.2%	341,5 k €	+5827%	-6 k €	-427%	1,8 k €	-87.4%	14,5 k €	+1022%	1,3 k €	-89.2%	11,9 k €	+234%	3,6 k €	-86.3%	26,1 k €	-56.2%	59,5 k €	+809%	6,5 k €	+292%	1,7 k €	+115%	-11,2 k €	+90.1%	-112,6 k €	-488%	29 k €	+47.2%	19,7 k €
Balance sheet
Equity	2,5 M €	+9.0%	2,2 M €	+10.5%	2 M €	+17.8%	1,7 M €	+19.8%	1,4 M €	+35.5%	1,1 M €	+378%	222,4 k €	-2.6%	228,4 k €	+0.8%	226,6 k €	+6.8%	212,1 k €	+0.6%	210,8 k €	+6.0%	198,9 k €	+1.8%	195,3 k €	+15.4%	169,2 k €	+54.3%	109,7 k €	+6.3%	103,2 k €	+1.6%	101,5 k €	-9.9%	112,6 k €	-50.0%	225,2 k €	+14.8%	196,2 k €
Total assets	6,1 M €	+17.1%	5,2 M €	+3.6%	5 M €	+7.2%	4,7 M €	+13.0%	4,2 M €	+5.6%	3,9 M €	+43.2%	2,7 M €	-2.3%	2,8 M €	+6.2%	2,6 M €	+11.7%	2,4 M €	+18.2%	2 M €	-3.8%	2,1 M €	+60.3%	1,3 M €	-16.9%	1,6 M €	-1.2%	1,6 M €	+17.7%	1,3 M €	-21.4%	1,7 M €	-9.3%	1,9 M €	+31.8%	1,4 M €	+1.3%	1,4 M €
Cash	1,1 M €	+67.7%	630,8 k €	+42.8%	441,9 k €	-29.1%	622,9 k €	-14.2%	725,8 k €	-37.4%	1,2 M €	+1272%	84,5 k €	+133%	36,2 k €	-51.1%	74,1 k €	+33.3%	55,6 k €	+115%	25,9 k €	-43.8%	46,1 k €	-5.1%	48,5 k €	+64.0%	29,6 k €	-47.6%	56,4 k €	+89.9%	29,7 k €	-67.7%	92,1 k €	-56.4%	211,3 k €	+47.2%	143,6 k €	+66.0%	86,5 k €
Debts	3,6 M €	+24.2%	2,9 M €	-1.6%	3 M €	+1.0%	2,9 M €	+8.6%	2,7 M €	-5.4%	2,9 M €	+13.7%	2,5 M €	-2.3%	2,6 M €	+7.5%	2,4 M €	+12.3%	2,1 M €	+19.2%	1,8 M €	-4.8%	1,9 M €	+70.7%	1,1 M €	-20.8%	1,4 M €	-5.3%	1,5 M €	+19.8%	1,2 M €	-23.0%	1,6 M €	-9.9%	1,8 M €	+47.1%	1,2 M €	-0.9%	1,2 M €
Other
Workforce	19,4 ETP	+2.6%	18,9 ETP	-1.6%	19,2 ETP	+15.7%	16,6 ETP	+12.9%	14,7 ETP	+4.3%	14,1 ETP	-4.1%	14,7 ETP	+20.5%	12,2 ETP	+8.0%	11,3 ETP	-2.6%	11,6 ETP	+13.7%	10,2 ETP	+13.3%	9,0 ETP	+1.1%	8,9 ETP	-4.3%	9,3 ETP	0.0%	9,3 ETP	-12.3%	10,6 ETP	+9.3%	9,7 ETP	+1.0%	9,6 ETP	-2.0%	9,8 ETP	-9.3%	10,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 21 ended

Active mandates

KORYS MANAGEMENT

Director · since 21 novembre 2023 · until 29 mai 2026 · 0885.971.571

Represented by Vincent Caudron

Active

Evi Van de Velde

Director · since 23 juillet 2020 · until 29 mai 2026

Active

Korys Business Services II NV

Director · since 23 juillet 2020 · until 29 mai 2026 · 0450.623.396

Represented by Vincent De Smet

Active

Niko Claeys

Director · since 23 juillet 2020 · until 29 mai 2026

Active

Ended mandates

Steven Van Middelem

Director · since 23 juillet 2020 · until 21 novembre 2023

Ended

Steven Van Middelem

Director · since 23 juillet 2020 · until 29 mai 2026

Ended

Evi Van de Velde

Director · since 25 mai 2018 · until 31 mai 2024

Ended

Evi Van De Velde

Director · since 25 mai 2018 · until 23 juillet 2020

Ended

At this address

Other companies at this address

Company	CBE no.
Julien en Jacqueline● Active	0650.764.981
LIMONA● Active	0537.409.197
VELDA● Active	0540.606.239

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	25/06/2026	03/06/2025	30/06/2024	19/06/2023	02/06/2022	23/06/2021
General meeting	29/05/2026	30/05/2025	31/05/2024	26/05/2023	27/05/2022	28/05/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	29/05/2026	25/06/2026	Dutch	PDF
Abridged model	31/12/2024	30/05/2025	03/06/2025	Dutch	PDF
Abridged model	31/12/2023	31/05/2024	30/06/2024	Dutch	PDF
Abridged model	31/12/2022	26/05/2023	19/06/2023	Dutch	PDF
Abridged model	31/12/2021	27/05/2022	02/06/2022	Dutch	PDF
Abridged model	31/12/2020	28/05/2021	23/06/2021	Dutch	PDF
Abridged model	31/12/2019	29/05/2020	17/06/2020	Dutch	PDF
Abridged model	31/12/2018	31/05/2019	26/06/2019	Dutch	PDF
Abridged modelCorrection	31/12/2017	29/03/2019	29/03/2019	Dutch	PDF
Abridged model	31/12/2017	25/05/2018	23/06/2018	Dutch	PDF
Abridged model	31/12/2016	26/05/2017	19/06/2017	Dutch	PDF
Abridged model	31/12/2015	27/05/2016	24/06/2016	Dutch	PDF
Abridged model	31/12/2014	29/05/2015	12/06/2015	Dutch	PDF
Abridged model	31/12/2013	30/05/2014	05/06/2014	Dutch	PDF
Abridged model	31/12/2012	31/05/2013	29/08/2013	Dutch	PDF
Abridged model	31/12/2011	25/05/2012	31/05/2012	Dutch	PDF
Abridged model	31/12/2010	27/05/2011	01/07/2011	Dutch	PDF
Abridged model	31/12/2009	28/05/2010	23/07/2010	Dutch	PDF
Abridged model	31/12/2008	29/05/2009	28/08/2009	Dutch	PDF
Abridged model	31/12/2007	30/05/2008	26/08/2008	Dutch	PDF
Abridged model	31/12/2006	25/05/2007	22/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 4 active · 21 ended

Active mandates

KORYS MANAGEMENT

Director · since 21 novembre 2023 · until 29 mai 2026 · 0885.971.571

Represented by Vincent Caudron

Active

Evi Van de Velde

Director · since 23 juillet 2020 · until 29 mai 2026

Active

Korys Business Services II NV

Director · since 23 juillet 2020 · until 29 mai 2026 · 0450.623.396

Represented by Vincent De Smet

Active

Niko Claeys

Director · since 23 juillet 2020 · until 29 mai 2026

Active

Ended mandates

Steven Van Middelem

Director · since 23 juillet 2020 · until 21 novembre 2023

Ended

Steven Van Middelem

Director · since 23 juillet 2020 · until 29 mai 2026

Ended

Evi Van de Velde

Director · since 25 mai 2018 · until 31 mai 2024

Ended

Evi Van De Velde

Director · since 25 mai 2018 · until 23 juillet 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/05/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other22/12/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING
PDF
Mandates14/08/2020
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates10/07/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/10/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/08/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/11/2007
ONTSLAGEN - BENOEMINGEN
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 2025202,6 k €↓
2024
Annual accounts 2024230,1 k €↓
2023
Annual accounts 2023306,7 k €↑
2022
Annual accounts 2022285,6 k €↓
2021
Annual accounts 2021434,5 k €↑
2021
Name changeGINSTBRONNEN
2020
Annual accounts 2020341,5 k €↑
2019
Annual accounts 2019-6 k €↓
2018
Annual accounts 20181,8 k €↓
2017
Annual accounts 201714,5 k €↑
2016
Annual accounts 20161,3 k €↓
2015
Annual accounts 201511,9 k €↑
2014
Annual accounts 20143,6 k €↓
2013
Annual accounts 201326,1 k €↓
2012
Annual accounts 201259,5 k €↑
2011
Annual accounts 20116,5 k €↑
2010
Annual accounts 20101,7 k €↑
2009
Annual accounts 2009-11,2 k €↑
2008
Annual accounts 2008-112,6 k €↓
2007
Annual accounts 200729 k €↑
2006
Annual accounts 200619,7 k €
2006
Name changeEVIDEL
31/10/2001
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

GINSTBRONNEN

Overview

What does GINSTBRONNEN 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