ZAAF
0476.447.865 · rovalta.com · 22/09/2026
ACTIVE
ZAAF
Financial year 2025 · closed on 31/12/2025
Net result
-100,2 k €
-104.9% YoY
Gross margin
-191,8 k €
-109.7% YoY
Equity
9,3 M €
-1.0% YoY
Overview
What does ZAAF do?
ZAAF is a Private limited company incorporated in 2001. Its main activity is: Support activities to performing arts. Its registered office is in Leuven.
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0476.447.865
Incorporation
24/12/2001
Legal form
Private limited company
Registered office
Frederik Lintsstraat 61
3000 Leuven · FlandreSee on map
3000 Leuven · FlandreSee on map
Contributed capital
6 200,00 €
Latest accounts
31/12/2025
Activities (NACE)
90023Support activities to performing arts· main90393Creative, arts and entertainment activities92313Gambling and betting activities59113Motion picture, video and television programme production activities59113Motion picture, video and television programme production activities59130Motion picture, video and television programme distribution activities+9
Signals
Solid equityLow riskGood liquidity
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Financials
Trend over 18 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2009 | 2008 | 2007 | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||||
| Gross margin | -191,8 k € | -110% | 2 M € | +48504% | 4,1 k € | +104% | -111,5 k € | -158% | 193,8 k € | +11.6% | 173,7 k € | +235% | -128,3 k € | -105% | -62,7 k € | -154% | 117,1 k € | +47.1% | 79,6 k € | -51.0% | 162,6 k € | -17.3% | 196,5 k € | -15.7% | 233,1 k € | +4.1% | 224 k € | +55.4% | 144,2 k € | -23.0% | 187,3 k € | +19.7% | 156,4 k € | -17.6% | 189,7 k € |
| EBITDA | -215,2 k € | -111% | 2 M € | +98380% | 2 k € | +102% | -114 k € | -159% | 192,1 k € | +12.0% | 171,4 k € | +226% | -136,3 k € | -111% | -64,5 k € | -155% | 116,3 k € | +48.9% | 78,1 k € | -51.5% | 160,9 k € | -17.4% | 194,9 k € | -15.5% | 230,7 k € | +3.6% | 222,7 k € | +56.2% | 142,6 k € | -23.1% | 185,3 k € | +19.7% | 154,7 k € | -18.1% | 188,9 k € |
| Operating result | -228,8 k € | -112% | 2 M € | +18968% | -10,5 k € | +91.6% | -124,3 k € | -168% | 183 k € | +14.5% | 159,9 k € | +195% | -168,3 k € | -56.8% | -107,3 k € | -242% | 75,7 k € | +123% | 33,9 k € | -74.9% | 135,1 k € | -26.7% | 184,2 k € | -7.5% | 199,1 k € | +6.4% | 187 k € | +91.5% | 97,7 k € | -38.8% | 159,6 k € | +19.2% | 133,9 k € | -19.5% | 166,3 k € |
| Net result | -100,2 k € | -105% | 2 M € | +1098% | 171,1 k € | -93.0% | 2,4 M € | +1012% | 219,8 k € | +36.9% | 160,5 k € | -92.5% | 2,2 M € | +480% | 370,8 k € | +15.6% | 320,8 k € | +11.8% | 287 k € | -23.8% | 376,4 k € | -50.5% | 760,7 k € | +639% | 102,9 k € | -18.2% | 125,8 k € | -84.0% | 787,7 k € | +606% | 111,5 k € | +27.4% | 87,6 k € | -61.1% | 224,9 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||
| Equity | 9,3 M € | -1.0% | 9,4 M € | +28.0% | 7,3 M € | +2.4% | 7,1 M € | +51.9% | 4,7 M € | +4.9% | 4,5 M € | +3.7% | 4,3 M € | +98.9% | 2,2 M € | -17.4% | 2,6 M € | +13.9% | 2,3 M € | +14.2% | 2 M € | +22.8% | 1,6 M € | +85.8% | 887 k € | -6.2% | 946,1 k € | +15.3% | 820,2 k € | +12.0% | 732,6 k € | +18.0% | 621 k € | +16.4% | 533,5 k € |
| Total assets | 10,4 M € | -1.1% | 10,5 M € | +26.6% | 8,3 M € | +0.2% | 8,3 M € | +60.8% | 5,2 M € | +0.9% | 5,1 M € | -0.3% | 5,1 M € | +51.7% | 3,4 M € | +3.1% | 3,3 M € | -0.8% | 3,3 M € | +1.5% | 3,3 M € | +13.5% | 2,9 M € | +6.6% | 2,7 M € | -0.8% | 2,7 M € | +79.0% | 1,5 M € | +83.6% | 826,8 k € | +1.7% | 813,1 k € | -3.6% | 843,6 k € |
| Cash | 459 k € | -58.1% | 1,1 M € | +100% | 547,6 k € | -46.5% | 1 M € | +69.6% | 603,4 k € | +14.0% | 529,2 k € | +14.4% | 462,6 k € | +257% | 129,8 k € | +22.2% | 106,2 k € | +29.7% | 81,9 k € | -3.2% | 84,6 k € | +224% | 26,1 k € | -11.6% | 29,5 k € | -22.3% | 38 k € | +89.8% | 20 k € | +4.4% | 19,2 k € | +48.8% | 12,9 k € | +6.2% | 12,1 k € |
| Debts | 1,1 M € | -1.2% | 1,2 M € | +16.6% | 995 k € | -13.5% | 1,2 M € | +154% | 453,7 k € | -27.4% | 625,1 k € | -22.1% | 803 k € | -33.3% | 1,2 M € | +86.9% | 644,7 k € | -35.0% | 991,7 k € | -19.4% | 1,2 M € | +0.9% | 1,2 M € | -32.3% | 1,8 M € | +2.1% | 1,8 M € | +155% | 691,3 k € | +689% | 87,6 k € | -52.8% | 185,4 k € | -38.9% | 303,4 k € |
Estimate
Indicative valuation
As an indication, this company is worth
between 5 M€ and 10 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 1 active · 1 ended
Active mandates
Maurits Lemmens
ActiveEnded mandates
MAURITS LEMMENS
EndedAt this address
Other companies at this address
| Company | CBE no. |
|---|---|
COPMAN EN CO● Active | 0769.847.923 |
Financials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Micro model | Micro model | Micro model | Micro model | Micro model | Micro 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 | 30/08/2026 | 09/10/2025 | 02/10/2024 | 11/10/2023 | 19/08/2022 | 26/08/2021 |
| General meeting | 20/06/2026 | 30/06/2025 | 06/09/2024 | 17/06/2023 | 31/07/2022 | 31/07/2021 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
20 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Micro model | 31/12/2025 | 20/06/2026 | 30/08/2026 | Dutch | |
| Micro model | 31/12/2024 | 30/06/2025 | 09/10/2025 | Dutch | |
| Micro model | 31/12/2023 | 06/09/2024 | 02/10/2024 | Dutch | |
| Micro model | 31/12/2022 | 17/06/2023 | 11/10/2023 | Dutch | |
| Micro model | 31/12/2021 | 31/07/2022 | 19/08/2022 | Dutch | |
| Micro model | 31/12/2020 | 31/07/2021 | 26/08/2021 | Dutch | |
| Micro model | 31/12/2019 | 31/07/2020 | 28/08/2020 | Dutch | |
| Micro model | 31/12/2018 | 15/06/2019 | 29/08/2019 | Dutch | |
| Micro model | 31/12/2017 | 31/07/2018 | 31/08/2018 | Dutch | |
| Abridged model | 31/12/2016 | 17/06/2017 | 31/08/2017 | Dutch | |
| Abridged model | 31/12/2015 | 18/06/2016 | 30/06/2016 | Dutch | |
| Abridged model | 31/12/2014 | 20/06/2015 | 27/07/2015 | Dutch | |
| Abridged model | 31/12/2013 | 21/06/2014 | 04/07/2014 | Dutch | |
| Abridged model | 31/12/2012 | 29/03/2013 | 27/06/2013 | Dutch | |
| Abridged model | 31/12/2011 | 16/06/2012 | 21/06/2012 | Dutch | |
| Abridged model | 31/12/2010 | 18/06/2011 | 21/06/2011 | Dutch | |
| Abridged model | 31/12/2009 | 19/06/2010 | 12/10/2010 | Dutch | |
| Abridged model | 31/12/2008 | 20/06/2009 | 30/09/2009 | Dutch | |
| Abridged model | 31/12/2007 | 21/06/2008 | 29/08/2008 | Dutch | |
| Abridged model | 31/12/2006 | 16/06/2007 | 22/08/2007 | Dutch |
Valuation
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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 1 active · 1 ended
Active mandates
Maurits Lemmens
ActiveEnded mandates
MAURITS LEMMENS
EndedShareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025-100,2 k €↓
- 2024Annual accounts 20242 M €↑
- 2023Annual accounts 2023171,1 k €↓
- 2022Annual accounts 20222,4 M €↑
- 2021Annual accounts 2021219,8 k €↑
- 2020Annual accounts 2020160,5 k €↓
- 2019Annual accounts 20192,2 M €↑
- 2018Annual accounts 2018370,8 k €↑
- 2017Annual accounts 2017320,8 k €↑
- 2016Annual accounts 2016287 k €↓
- 2015Annual accounts 2015376,4 k €↓
- 2014Annual accounts 2014760,7 k €↑
- 2013Annual accounts 2013102,9 k €↓
- 2012Annual accounts 2012125,8 k €↓
- 2011Annual accounts 2011787,7 k €↑
- 2009Annual accounts 2009111,5 k €↑
- 2008Annual accounts 200887,6 k €↓
- 2007Annual accounts 2007224,9 k €
- 24/12/2001IncorporationPrivate limited company