ACTIVE

BAKE - PERFORMANCE

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Financial year 2025 · closed on 31/12/2025

Net result

461,3 k €

+7.7% YoY

Gross margin

1,6 M €

+15.3% YoY

Equity

2,2 M €

+25.9% YoY

Workforce

12,1 ETP

+10.0% YoY

What does BAKE - PERFORMANCE do?

BAKE - PERFORMANCE is a Public limited company incorporated in 2002. Its main activity is: Wholesale of other food, including fish, crustaceans and molluscs. Its registered office is in Zonhoven. It employs on average 12,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0477.547.232

Incorporation

21/05/2002

Legal form

Public limited company

Registered office

Industrieweg 1420
3520 Zonhoven · FlandreSee on map

Contributed capital

250 000,00 €

Latest accounts

31/12/2025

Average workforce

12,1 ETP

Activities (NACE)

46389Wholesale of other food, including fish, crustaceans and molluscs· main 46389Wholesale of other food, including fish, crustaceans and molluscs 51384Air transport

Joint committees (3)

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 21 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006		2005
Income statement
Gross margin	1,6 M €	+15.3%	1,4 M €	+27.4%	1,1 M €	+14.3%	957 k €	+8.7%	880,7 k €	+55.4%	566,7 k €	-4.4%	592,6 k €	-2.3%	606,5 k €	-23.5%	792,4 k €	+40.3%	564,9 k €	+26.8%	445,3 k €	-9.4%	491,6 k €	-15.1%	579,2 k €	+71.3%	338,1 k €	+149%	136 k €	-66.9%	411,2 k €	-20.1%	514,5 k €	+3.4%	497,4 k €	+11.8%	445 k €	+32.2%	336,5 k €	+34.7%	249,8 k €
EBITDA	789,2 k €	+8.6%	726,9 k €	+76.1%	412,9 k €	+27.3%	324,2 k €	-21.1%	411 k €	+168%	153,5 k €	-21.7%	196 k €	-15.1%	230,8 k €	-27.0%	316,3 k €	+84.0%	171,8 k €	+39.4%	123,2 k €	-28.5%	172,3 k €	-16.9%	207,3 k €	+1401%	13,8 k €	+110%	-138,5 k €	-187%	159,5 k €	-38.7%	259,9 k €	-2.7%	267,2 k €	+19.9%	222,9 k €	+31.0%	170,1 k €	+116%	78,6 k €
Operating result	633 k €	+6.1%	596,5 k €	+105%	291,3 k €	-4.1%	303,6 k €	+5.0%	289,3 k €	+249%	83 k €	-35.5%	128,6 k €	-4.4%	134,4 k €	-40.5%	226,1 k €	+170%	83,7 k €	+140%	34,9 k €	-56.3%	79,9 k €	-23.7%	104,6 k €	+203%	-101,6 k €	+56.1%	-231,5 k €	-1281%	19,6 k €	-86.1%	141 k €	-8.9%	154,8 k €	+73.3%	89,3 k €	+318%	21,4 k €	+143%	-50,1 k €
Net result	461,3 k €	+7.7%	428,4 k €	+108%	206,5 k €	-14.1%	240,4 k €	+11.7%	215,2 k €	+253%	60,9 k €	-36.2%	95,5 k €	+0.5%	95 k €	-48.7%	185,1 k €	+200%	61,7 k €	+467%	10,9 k €	-82.9%	63,5 k €	-14.5%	74,2 k €	+151%	-144,7 k €	+43.3%	-255 k €	-2038%	13,2 k €	-84.2%	83,1 k €	-22.7%	107,5 k €	+84.4%	58,3 k €	+2341%	-2,6 k €	+58.0%	-6,2 k €
Balance sheet
Equity	2,2 M €	+25.9%	1,8 M €	+31.7%	1,3 M €	+18.3%	1,1 M €	+27.0%	889,7 k €	+31.9%	674,4 k €	+9.9%	613,5 k €	+18.4%	518 k €	+22.5%	423 k €	+77.8%	237,9 k €	+35.0%	176,2 k €	+6.6%	165,4 k €	+62.3%	101,9 k €	+269%	27,6 k €	-84.0%	172,3 k €	-59.7%	427,3 k €	+3.2%	414,1 k €	+25.1%	331 k €	+48.1%	223,6 k €	+35.3%	165,3 k €	-1.5%	167,9 k €
Total assets	3,4 M €	+15.0%	2,9 M €	+7.8%	2,7 M €	+2.5%	2,7 M €	+22.0%	2,2 M €	+27.4%	1,7 M €	+5.2%	1,6 M €	-11.7%	1,8 M €	+1.6%	1,8 M €	-8.1%	2 M €	-11.9%	2,2 M €	-0.3%	2,2 M €	-6.0%	2,4 M €	+3.3%	2,3 M €	-0.7%	2,3 M €	+24.6%	1,9 M €	+9.0%	1,7 M €	+10.4%	1,6 M €	+4.2%	1,5 M €	-8.6%	1,6 M €	+20.2%	1,4 M €
Cash	651,6 k €	+115%	303,6 k €	+115%	141,2 k €	+27.9%	110,4 k €	-22.2%	142 k €	+238%	42 k €	-24.7%	55,8 k €	+19.7%	46,6 k €	-13.6%	53,9 k €	+0.9%	53,4 k €	+35.0%	39,6 k €	-29.1%	55,8 k €	+59.0%	35,1 k €	-51.7%	72,6 k €	-11.4%	82 k €	-18.5%	100,6 k €	-32.1%	148,2 k €	+39.3%	106,4 k €	+7.0%	99,4 k €	-11.6%	112,5 k €	+240%	33,1 k €
Debts	1,2 M €	-1.5%	1,2 M €	-14.9%	1,4 M €	-8.9%	1,5 M €	+28.4%	1,2 M €	+21.4%	967,1 k €	+2.5%	943,5 k €	-26.5%	1,3 M €	-4.8%	1,3 M €	-17.4%	1,6 M €	-14.2%	1,9 M €	-0.9%	1,9 M €	-8.9%	2,1 M €	-1.0%	2,1 M €	+4.2%	2 M €	+51.2%	1,4 M €	+8.6%	1,2 M €	+5.1%	1,2 M €	-6.3%	1,3 M €	-13.3%	1,5 M €	+22.9%	1,2 M €
Other
Workforce	12,1 ETP	+10.0%	11,0 ETP	+2.8%	10,7 ETP	+10.3%	9,7 ETP	+21.2%	8,0 ETP	+1.3%	7,9 ETP	-9.2%	8,7 ETP	-13.0%	10,0 ETP	+12.4%	8,9 ETP	+4.7%	8,5 ETP	-3.4%	8,8 ETP	+7.3%	8,2 ETP	+9.3%	7,5 ETP	+13.6%	6,6 ETP	+8.2%	6,1 ETP	-9.0%	6,7 ETP	+21.8%	5,5 ETP	+19.6%	4,6 ETP	+12.2%	4,1 ETP	-4.7%	4,3 ETP	+7.5%	4,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 15 ended

Active mandates

Maxim Massoels

Director · since 07 mai 2021 · until 12 juin 2027

Active

Matthias Thönebe

Director · since 13 juin 2014 · until 12 juin 2027

Active

Hendrik Massoels

Director · since 01 octobre 2003 · until 12 juin 2027

Active

Ended mandates

Maxim Massoels

Director · since 07 mai 2021 · until 12 juin 2026

Ended

Matthias Thönebe

Director · since 13 juin 2014 · until 12 juin 2026

Ended

Flechtorfer Mühle Verwaltungsgesellschaft Mbh

Director · since 13 juin 2008 · until 13 juin 2014

Represented by Walter Thönebe

Ended

Hendrik Massoels

Managing director · since 13 juin 2008 · until 13 juin 2014

Ended

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	15/07/2026	21/08/2025	27/08/2024	12/06/2023	30/08/2022	30/07/2021
General meeting	03/07/2026	13/06/2025	28/06/2024	09/06/2023	10/06/2022	11/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	03/07/2026	15/07/2026	Dutch	PDF
Abridged model	31/12/2024	13/06/2025	21/08/2025	Dutch	PDF
Abridged model	31/12/2023	28/06/2024	27/08/2024	Dutch	PDF
Abridged model	31/12/2022	09/06/2023	12/06/2023	Dutch	PDF
Abridged model	31/12/2021	10/06/2022	30/08/2022	Dutch	PDF
Abridged model	31/12/2020	11/06/2021	30/07/2021	Dutch	PDF
Abridged model	31/12/2019	12/06/2020	06/08/2020	Dutch	PDF
Abridged model	31/12/2018	14/06/2019	09/07/2019	Dutch	PDF
Abridged model	31/12/2017	08/06/2018	06/08/2018	Dutch	PDF
Abridged model	31/12/2016	09/06/2017	07/07/2017	Dutch	PDF
Abridged model	31/12/2015	10/06/2016	29/08/2016	Dutch	PDF
Abridged model	31/12/2014	12/06/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	13/06/2014	06/08/2014	Dutch	PDF
Abridged model	31/12/2012	14/06/2013	30/08/2013	Dutch	PDF
Abridged model	31/12/2011	08/06/2012	28/08/2012	Dutch	PDF
Abridged model	31/12/2010	10/06/2011	30/08/2011	Dutch	PDF
Abridged model	31/12/2009	11/06/2010	31/08/2010	Dutch	PDF
Abridged model	31/12/2008	12/06/2009	24/08/2009	Dutch	PDF
Abridged model	31/12/2007	13/06/2008	28/08/2008	Dutch	PDF
Abridged model	31/12/2006	08/06/2007	10/08/2007	Dutch	PDF
Abridged model	31/12/2005	09/06/2006	08/05/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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 · 3 active · 15 ended

Active mandates

Maxim Massoels

Director · since 07 mai 2021 · until 12 juin 2027

Active

Matthias Thönebe

Director · since 13 juin 2014 · until 12 juin 2027

Active

Hendrik Massoels

Director · since 01 octobre 2003 · until 12 juin 2027

Active

Ended mandates

Maxim Massoels

Director · since 07 mai 2021 · until 12 juin 2026

Ended

Matthias Thönebe

Director · since 13 juin 2014 · until 12 juin 2026

Ended

Flechtorfer Mühle Verwaltungsgesellschaft Mbh

Director · since 13 juin 2008 · until 13 juin 2014

Represented by Walter Thönebe

Ended

Hendrik Massoels

Managing director · since 13 juin 2008 · until 13 juin 2014

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates17/03/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/10/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/08/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/10/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/02/2009
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/04/2004
ONTSLAGEN - BENOEMINGEN - MAATSCHAPPELIJKE ZETEL
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 2025461,3 k €↑
2024
Annual accounts 2024428,4 k €↑
2023
Annual accounts 2023206,5 k €↓
2022
Annual accounts 2022240,4 k €↑
2021
Annual accounts 2021215,2 k €↑
2020
Annual accounts 202060,9 k €↓
2019
Annual accounts 201995,5 k €↑
2018
Annual accounts 201895 k €↓
2017
Annual accounts 2017185,1 k €↑
2016
Annual accounts 201661,7 k €↑
2015
Annual accounts 201510,9 k €↓
2014
Annual accounts 201463,5 k €↓
2013
Annual accounts 201374,2 k €↑
2012
Annual accounts 2012-144,7 k €↑
2011
Annual accounts 2011-255 k €↓
2010
Annual accounts 201013,2 k €↓
2009
Annual accounts 200983,1 k €↓
2008
Annual accounts 2008107,5 k €↑
2007
Annual accounts 200758,3 k €↑
2006
Annual accounts 2006-2,6 k €↑
2005
Annual accounts 2005-6,2 k €
21/05/2002
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

BAKE - PERFORMANCE

Overview

What does BAKE - PERFORMANCE do?

Trend over 21 financial years

Indicative valuation

Board of directors

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