ACTIVE

AHREND

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Financial year 2025 · closed on 31/12/2025

Net result

407 k €

-31.9% YoY

Revenue

11,2 M €

-15.2% YoY

Equity

10,1 M €

+4.2% YoY

Workforce

25,0 ETP

+6.8% YoY

What does AHREND do?

AHREND is a Public limited company incorporated in 2002. Its main activity is: Wholesale of furniture, carpets and lighting equipment. Its registered office is in Zaventem. It employs on average 25,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0477.720.743

Incorporation

10/06/2002

Legal form

Public limited company

Registered office

Romboutsstraat 9
1932 Zaventem · FlandreSee on map

Contributed capital

6 663 000,00 €

Latest accounts

31/12/2025

Average workforce

25,0 ETP

Activities (NACE)

46472Wholesale of furniture, carpets and lighting equipment· main 46500Wholesale of information and communication equipment 46650Wholesale of office furniture 46660Wholesale of other office machinery and equipment 51850Air transport

Joint committees (4)

14904
200
201
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	11,2 M €	-15.2%	13,2 M €	-2.8%	13,6 M €	-6.4%	14,5 M €	-11.5%	16,4 M €	+8.1%	15,2 M €	-35.2%	23,4 M €	-18.0%	28,5 M €	+140%	11,9 M €	-27.5%	16,4 M €	+6.2%	15,5 M €	+3.5%	14,9 M €	+55.7%	9,6 M €	-35.3%	14,8 M €	+44.8%	10,2 M €	+22.0%	8,4 M €
EBITDA	444,2 k €	-29.0%	625,3 k €	+20.5%	518,8 k €	+26.4%	410,4 k €	-51.0%	837,5 k €	+233%	-631,5 k €	-19.3%	-529,2 k €	-192%	572,5 k €	+85.2%	309,1 k €	-59.4%	761,9 k €	+19.2%	639,4 k €	-9.3%	704,6 k €	+90.2%	370,5 k €	-23.9%	486,5 k €	-7.8%	527,7 k €	+142%	-1,3 M €
Operating result	424,6 k €	-29.1%	599,1 k €	+15.1%	520,4 k €	+30.6%	398,6 k €	-44.1%	712,5 k €	+191%	-784,7 k €	-5.6%	-743,5 k €	-268%	442,6 k €	+583%	64,8 k €	-62.6%	173,4 k €	-45.4%	317,4 k €	+9.7%	289,4 k €	-4.5%	303,1 k €	-32.5%	449 k €	+32.5%	338,9 k €	+126%	-1,3 M €
Net result	407 k €	-31.9%	598 k €	-13.3%	690,1 k €	+53.5%	449,6 k €	-38.4%	729,3 k €	+194%	-777,6 k €	-3.4%	-752,2 k €	-243%	525 k €	+524%	84,2 k €	-49.8%	167,5 k €	-41.2%	284,7 k €	+6.0%	268,6 k €	-13.7%	311,4 k €	-37.4%	497,3 k €	+112%	234,9 k €	+118%	-1,3 M €
Balance sheet
Equity	10,1 M €	+4.2%	9,7 M €	+6.6%	9,1 M €	+8.2%	8,4 M €	+5.7%	7,9 M €	+10.1%	7,2 M €	+6.7%	6,7 M €	-10.0%	7,5 M €	+33.6%	5,6 M €	+1.5%	5,5 M €	+3.1%	5,4 M €	+5.6%	5,1 M €	+5.6%	4,8 M €	+6.9%	4,5 M €	+12.5%	4 M €	+426%	758,5 k €
Total assets	13,5 M €	+19.3%	11,3 M €	+1.4%	11,2 M €	+9.3%	10,2 M €	-1.3%	10,3 M €	+14.1%	9,1 M €	-17.2%	10,9 M €	-33.3%	16,4 M €	+87.7%	8,8 M €	-4.9%	9,2 M €	+13.3%	8,1 M €	-18.6%	10 M €	+18.1%	8,4 M €	-11.8%	9,6 M €	+41.5%	6,8 M €	+52.4%	4,4 M €
Cash	1,8 k €	-30.2%	2,5 k €	-0.3%	2,5 k €	-24.0%	3,3 k €	-6.0%	3,5 k €	-40.5%	5,9 k €	-90.9%	65,3 k €	+539%	10,2 k €	+376%	2,2 k €	-81.8%	11,8 k €	-98.3%	706,7 k €	-23.7%	926,7 k €	-6.9%	995,9 k €	-47.3%	1,9 M €	+50.8%	1,3 M €	-17.3%	1,5 M €
Debts	3,3 M €	+126%	1,5 M €	-21.5%	1,9 M €	+3.9%	1,8 M €	-23.2%	2,4 M €	+65.4%	1,4 M €	-62.9%	3,9 M €	-54.7%	8,5 M €	+181%	3 M €	-14.1%	3,5 M €	+38.9%	2,5 M €	-43.9%	4,5 M €	+37.1%	3,3 M €	-30.2%	4,7 M €	+96.4%	2,4 M €	-32.4%	3,6 M €
Other
Workforce	25,0 ETP	+6.8%	23,4 ETP	-7.9%	25,4 ETP	-6.3%	27,1 ETP	+12.0%	24,2 ETP	-10.0%	26,9 ETP	-44.3%	48,3 ETP	+36.1%	35,5 ETP	+39.2%	25,5 ETP	-4.5%	26,7 ETP	+2.7%	26,0 ETP	+8.3%	24,0 ETP	-16.1%	28,6 ETP	-13.3%	33,0 ETP	+2.5%	32,2 ETP	+5.6%	30,5 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 · 4 active · 32 ended

Active mandates

Rob Keulemans

Director · since 01 avril 2024 · until 01 avril 2030

Active

Anne Jan Stuij

Director · since 25 mai 2020 · until 30 juin 2026

Active

Patrick Windels

Director · since 25 mai 2020 · until 30 juin 2026

Active

Anne Jan Stuij

Mandate

Active

Ended mandates

Rob Keulemans

Director · since 01 avril 2024

Ended

Jelle Van der Kolk

Director · since 03 janvier 2022 · until 10 mai 2027

Ended

Anne Jan Stuij

Director · since 25 mai 2020 · until 11 mai 2026

Ended

Patrick Junius

Director · since 25 mai 2020 · until 31 décembre 2020

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	16/06/2025	01/07/2024	30/06/2023	24/05/2022	31/05/2021
General meeting	30/06/2026	10/06/2025	28/06/2024	30/06/2023	23/05/2022	24/05/2021
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
Full model	31/12/2025	30/06/2026	30/06/2026	Dutch	PDF
Full model	31/12/2024	10/06/2025	16/06/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	01/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	30/06/2023	Dutch	PDF
Full model	31/12/2021	23/05/2022	24/05/2022	Dutch	PDF
Full model	31/12/2020	24/05/2021	31/05/2021	Dutch	PDF
Full modelCorrection	31/12/2019	25/05/2020	05/06/2020	Dutch	PDF
Full model	31/12/2019	25/05/2020	28/05/2020	Dutch	PDF
Full model	31/12/2018	13/05/2019	17/05/2019	Dutch	PDF
Full model	31/12/2017	28/05/2018	31/05/2018	Dutch	PDF
Full model	31/12/2016	30/06/2017	11/07/2017	Dutch	PDF
Full model	31/12/2015	20/06/2016	22/06/2016	Dutch	PDF
Full model	31/12/2014	30/06/2015	02/07/2015	Dutch	PDF
Full model	31/12/2013	12/06/2014	23/06/2014	Dutch	PDF
Full model	31/12/2012	27/05/2013	06/06/2013	Dutch	PDF
Full model	31/12/2011	18/06/2012	10/07/2012	Dutch	PDF
Full model	31/12/2010	27/05/2011	17/06/2011	Dutch	PDF
Full model	31/12/2009	24/05/2010	02/06/2010	Dutch	PDF
Full model	31/12/2008	11/05/2009	02/06/2009	Dutch	PDF
Full model	31/12/2007	13/05/2008	26/05/2008	Dutch	PDF
Full model	31/12/2006	14/05/2007	15/05/2007	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 · 4 active · 32 ended

Active mandates

Rob Keulemans

Director · since 01 avril 2024 · until 01 avril 2030

Active

Anne Jan Stuij

Director · since 25 mai 2020 · until 30 juin 2026

Active

Patrick Windels

Director · since 25 mai 2020 · until 30 juin 2026

Active

Anne Jan Stuij

Mandate

Active

Ended mandates

Rob Keulemans

Director · since 01 avril 2024

Ended

Jelle Van der Kolk

Director · since 03 janvier 2022 · until 10 mai 2027

Ended

Anne Jan Stuij

Director · since 25 mai 2020 · until 11 mai 2026

Ended

Patrick Junius

Director · since 25 mai 2020 · until 31 décembre 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates18/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/06/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/03/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/01/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/07/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/05/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/01/2021
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 2025407 k €↓
2024
Annual accounts 2024598 k €↓
2023
Annual accounts 2023690,1 k €↑
2022
Annual accounts 2022449,6 k €↓
2021
Annual accounts 2021729,3 k €↑
2020
Annual accounts 2020-777,6 k €↓
2019
Annual accounts 2019-752,2 k €↓
2018
Annual accounts 2018525 k €↑
2018
Name changeAHREND
2013
Annual accounts 201384,2 k €↓
2012
Annual accounts 2012167,5 k €↓
2011
Annual accounts 2011284,7 k €↑
2010
Annual accounts 2010268,6 k €↓
2009
Annual accounts 2009311,4 k €↓
2008
Annual accounts 2008497,3 k €↑
2007
Annual accounts 2007234,9 k €↑
2006
Annual accounts 2006-1,3 M €
2006
Name changeAHREND FURNITURE
10/06/2002
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

AHREND

Overview

What does AHREND do?

Trend over 16 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