NORMAL SITUATION

FRIENDS

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Financial year 2026 · closed on 06/03/2026

Net result

-6,9 k €

-105.4% YoY

Gross margin

-5,8 k €

-103.1% YoY

Equity

18,6 k €

-89.0% YoY

Company — Normal situation.

What does FRIENDS do?

FRIENDS is a company registered in Belgium.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0479.627.188

Legal form

Private company with limited liability

Contributed capital

18 600,00 €

Latest accounts

06/03/2026

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2026		2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	-5,8 k €	-103%	187,4 k €	+1026581%	18,3 €	-99.8%	8,8 k €	-28.8%	12,3 k €	+12.7%	10,9 k €	+34.2%	8,1 k €	-30.8%	11,8 k €	+60.4%	7,3 k €	-26.9%	10 k €	-29.0%	14,1 k €	+70.9%	8,3 k €	-15.8%	9,8 k €	-12.1%	11,2 k €	+66.1%	6,7 k €	-27.3%	9,2 k €	-9.4%	10,2 k €	+80.1%	5,7 k €	+324%	-2,5 k €
EBITDA	-6,6 k €	-104%	184,2 k €	+10000%	-1,9 k €	-126%	7 k €	-36.1%	11 k €	+12.9%	9,8 k €	+47.6%	6,6 k €	-36.6%	10,4 k €	+73.7%	6 k €	-30.9%	8,7 k €	-29.5%	12,3 k €	+69.3%	7,3 k €	-2.3%	7,5 k €	-30.1%	10,7 k €	+115%	5 k €	-39.7%	8,2 k €	+15.0%	7,2 k €	+38.3%	5,2 k €	+269%	-3,1 k €
Operating result	-6,6 k €	-104%	184,2 k €	+3329%	-5,7 k €	-244%	4 k €	-50.1%	7,9 k €	+18.9%	6,7 k €	+89.5%	3,5 k €	-52.0%	7,3 k €	+152%	2,9 k €	-48.0%	5,6 k €	-39.3%	9,2 k €	+120%	4,2 k €	-4.0%	4,4 k €	-42.4%	7,6 k €	+304%	1,9 k €	-54.7%	4,1 k €	+35.0%	3,1 k €	+183%	1,1 k €	+115%	-7,2 k €
Net result	-6,9 k €	-105%	126,4 k €	+2181%	-6,1 k €	-350%	2,4 k €	-51.8%	5 k €	+19.3%	4,2 k €	+125%	1,9 k €	-58.9%	4,6 k €	+254%	1,3 k €	-64.3%	3,6 k €	-51.4%	7,4 k €	+284%	1,9 k €	+5.8%	1,8 k €	-60.4%	4,6 k €	+84.6%	2,5 k €	+422%	479,7 €	+148%	-993,8 €	+72.8%	-3,7 k €	+69.8%	-12,1 k €
Balance sheet
Equity	18,6 k €	-89.0%	168,5 k €	+300%	42,1 k €	-12.6%	48,2 k €	+5.3%	45,8 k €	+12.4%	40,7 k €	+11.6%	36,5 k €	+5.4%	34,6 k €	+15.2%	30,1 k €	+4.5%	28,8 k €	+14.3%	25,2 k €	+41.9%	17,7 k €	+12.2%	15,8 k €	+13.1%	14 k €	+49.3%	9,4 k €	+36.5%	6,9 k €	+7.5%	6,4 k €	-13.5%	7,4 k €	-33.2%	11 k €
Total assets	161,6 k €	-12.8%	185,3 k €	+149%	74,5 k €	+11.1%	67,1 k €	+1.7%	66 k €	-5.3%	69,7 k €	+8.0%	64,5 k €	-6.2%	68,8 k €	-4.3%	71,9 k €	-1.3%	72,8 k €	-6.3%	77,7 k €	-1.4%	78,8 k €	-6.8%	84,5 k €	-1.4%	85,7 k €	-3.7%	89 k €	+3.2%	86,3 k €	-7.6%	93,4 k €	-4.2%	97,5 k €	-9.2%	107,4 k €
Cash	161,6 k €	-12.1%	183,8 k €	+20105%	909,6 €	-93.5%	14 k €	+42.8%	9,8 k €	-5.8%	10,4 k €	+377%	2,2 k €	+34.6%	1,6 k €	-2.8%	1,7 k €	+35.9%	1,2 k €		–		994,2 €		–		1,7 k €	-11.9%	2 k €	+880%	202,3 €		–		1,1 k €	+11505%	9,3 €
Debts	143 k €	+747%	16,9 k €	-47.9%	32,4 k €	+71.6%	18,9 k €	-6.5%	20,2 k €	-28.3%	28,2 k €	+5.8%	26,6 k €	-15.3%	31,4 k €	-21.6%	40,1 k €	-6.9%	43,1 k €	-16.5%	51,6 k €	-15.5%	61 k €	-11.2%	68,7 k €	-4.2%	71,7 k €	-10.0%	79,7 k €	+0.3%	79,4 k €	-8.7%	87,1 k €	-3.4%	90,2 k €	-6.4%	96,4 k €

Governance

Board of directors

Seen on filing of 06/03/2026 · 1 active · 5 ended

Active mandates

Erik Vanborren

Director · since 18 février 2003

Active

Ended mandates

ERIK CROES

Manager · since 12 février 2003

Ended

ERIK VANBORREN

Manager · since 12 février 2003

Ended

ERIK CROES

Manager

Ended

Erik Vanborren

Director

Ended

Annual accounts

Full financial information

	2026	2025	2024	2023	2022	2021
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/07/2025	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020
Closing of the financial year	06/03/2026	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021
Length of the financial year	9 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/03/2026	10/12/2025	24/12/2024	29/01/2024	16/01/2023	10/12/2021
General meeting	06/03/2026	03/11/2025	11/12/2024	24/11/2023	23/12/2022	26/11/2021
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

23 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	06/03/2026	06/03/2026	31/03/2026	Dutch	PDF
Micro model	30/06/2025	03/11/2025	10/12/2025	Dutch	PDF
Micro model	30/06/2024	11/12/2024	24/12/2024	Dutch	PDF
Micro model	30/06/2023	24/11/2023	29/01/2024	Dutch	PDF
Micro model	30/06/2022	23/12/2022	16/01/2023	Dutch	PDF
Micro model	30/06/2021	26/11/2021	10/12/2021	Dutch	PDF
Micro model	30/06/2020	27/11/2020	22/12/2020	Dutch	PDF
Micro model	30/06/2019	28/12/2019	24/01/2020	Dutch	PDF
Micro model	30/06/2018	23/11/2018	19/02/2019	Dutch	PDF
Micro model	30/06/2017	24/11/2017	14/02/2018	Dutch	PDF
Abridged model	30/06/2016	25/11/2016	09/02/2017	Dutch	PDF
Abridged model	30/06/2015	18/12/2015	28/01/2016	Dutch	PDF
Abridged model	30/06/2014	19/12/2014	26/01/2015	Dutch	PDF
Abridged model	30/06/2013	30/12/2013	24/02/2014	Dutch	PDF
Abridged model	30/06/2012	30/11/2012	27/12/2012	Dutch	PDF
Abridged model	30/06/2011	13/01/2012	24/02/2012	Dutch	PDF
Abridged model	30/06/2010	30/12/2010	26/01/2011	Dutch	PDF
Abridged model	30/06/2009	30/12/2009	05/02/2010	Dutch	PDF
Abridged model	30/06/2008	30/12/2008	10/02/2009	Dutch	PDF
Abridged model	30/06/2007	21/12/2007	29/02/2008	Dutch	PDF
Abridged model	30/06/2006	24/11/2006	28/12/2006	Dutch	PDF
Abridged model	30/06/2005	25/11/2005	28/12/2005	Dutch	PDF
Abridged model	30/06/2004	16/12/2004	21/01/2005	Dutch	PDF

Estimate

Indicative valuation

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 06/03/2026 · 1 active · 5 ended

Active mandates

Erik Vanborren

Director · since 18 février 2003

Active

Ended mandates

ERIK CROES

Manager · since 12 février 2003

Ended

ERIK VANBORREN

Manager · since 12 février 2003

Ended

ERIK CROES

Manager

Ended

Erik Vanborren

Director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Dissolution05/05/2026
RUBRIEK EINDE (STOPZETTING, INTREKKING STOPZETTING, NIETIGHEID, GER. AK., GERECHTELIJKE REORGANISATIE, ENZ...
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

2026
Annual accounts 2026-6,9 k €↓
2025
Annual accounts 2025126,4 k €↑
2024
Annual accounts 2024-6,1 k €↓
2023
Annual accounts 20232,4 k €↓
2022
Annual accounts 20225 k €↑
2021
Annual accounts 20214,2 k €↑
2020
Annual accounts 20201,9 k €↓
2019
Annual accounts 20194,6 k €↑
2018
Annual accounts 20181,3 k €↓
2017
Annual accounts 20173,6 k €↓
2016
Annual accounts 20167,4 k €↑
2015
Annual accounts 20151,9 k €↑
2014
Annual accounts 20141,8 k €↓
2013
Annual accounts 20134,6 k €↑
2012
Annual accounts 20122,5 k €↑
2011
Annual accounts 2011479,7 €↑
2010
Annual accounts 2010-993,8 €↑
2009
Annual accounts 2009-3,7 k €↑
2008
Annual accounts 2008-12,1 k €

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

FRIENDS

Overview

What does FRIENDS do?

Trend over 19 financial years

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