ACTIVE

Firstline

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Financial year 2025 · closed on 31/12/2025
Net result
19,7 k €
+62.5% YoY
Gross margin
37,9 k €
+17.8% YoY
Equity
198,5 k €
+11.0% YoY

What does Firstline do?

Firstline is a Private company with limited liability incorporated in 2013. Its main activity is: Construction of utility projects for electricity and telecommunications. Its registered office is in Heusden-Zolder.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0502.913.029
Incorporation
30/01/2013
Legal form
Private company with limited liability
Registered office
Stationsstraat 6
3550 Heusden-Zolder · FlandreSee on map
Contributed capital
1,00 €
Latest accounts
31/12/2025
Activities (NACE)
42220Construction of utility projects for electricity and telecommunications· main42220Construction of utility projects for electricity and telecommunications43211Electrical installation43211Electrical installation47400Retail sale of information and communication equipment in specialised stores47410Retail sale of computers, peripheral units and software in specialised stores
Joint committees (2)
  • 14901
  • 200
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 12 financial years

202520242023202220212020201920182017201620152014
Income statement
Gross margin37,9 k €32,2 k €52,9 k €80,9 k €65,4 k €67,7 k €38,3 k €63,1 k €11,4 k €7,1 k €-22,3 k €18,7 k €
EBITDA29,4 k €21,9 k €23,5 k €40,6 k €23,9 k €47,3 k €36,8 k €62,4 k €10,6 k €6,3 k €-23 k €17 k €
Operating result26,3 k €19 k €14,5 k €38,1 k €21,2 k €44,9 k €34,5 k €60,1 k €9,8 k €5,5 k €-24 k €12,4 k €
Net result19,7 k €12,1 k €9,6 k €31,9 k €17,4 k €39,6 k €29,1 k €46,5 k €8,8 k €5 k €-28,5 k €7,2 k €
Balance sheet
Equity198,5 k €178,7 k €166,6 k €157 k €125,1 k €107,6 k €68,1 k €39 k €-7,5 k €-16,3 k €-21,3 k €7,2 k €
Total assets213,9 k €189,2 k €185,4 k €167,2 k €135,4 k €115,5 k €76,4 k €56,2 k €4,4 k €6,9 k €7,1 k €27,6 k €
Cash81,9 k €55,6 k €85,6 k €72,7 k €61,2 k €65,1 k €20 k €17,4 k €3,2 k €5 k €711,3 €4,7 k €
Debts15,4 k €10,5 k €18,8 k €10,2 k €10,4 k €7,9 k €8,3 k €17,2 k €11,9 k €23,2 k €28,3 k €20,4 k €
Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

Mesut Polat

Director · since 30 janvier 2013

Active

Ended mandates

Mesut Polat

Manager · since 30 janvier 2013

Ended
Mesut POLAT

Mandate

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro modelMicro modelMicro model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date25/08/202608/10/202506/12/202423/07/202330/07/202224/07/2021
General meeting29/06/202630/06/202524/06/202427/06/202328/06/202228/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

12 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model31/12/202529/06/202625/08/2026DutchPDF
Micro model31/12/202430/06/202508/10/2025DutchPDF
Micro model31/12/202324/06/202406/12/2024DutchPDF
Micro model31/12/202227/06/202323/07/2023DutchPDF
Micro model31/12/202128/06/202230/07/2022DutchPDF
Micro model31/12/202028/06/202124/07/2021DutchPDF
Micro model31/12/201929/06/202007/10/2020DutchPDF
Micro model31/12/201824/06/201918/07/2019DutchPDF
Micro model31/12/201725/06/201830/06/2018DutchPDF
Micro model31/12/201626/06/201723/07/2017DutchPDF
Abridged model31/12/201527/06/201621/07/2016DutchPDF
Abridged model31/12/201429/06/201520/07/2015DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

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 · 1 active · 2 ended

Active mandates

Mesut Polat

Director · since 30 janvier 2013

Active

Ended mandates

Mesut Polat

Manager · since 30 janvier 2013

Ended
Mesut POLAT

Mandate

Ended
Shareholders

Ownership and network

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Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 202519,7 k €↑
  2. 2024
    Annual accounts 202412,1 k €↑
  3. 2023
    Annual accounts 20239,6 k €↓
  4. 2022
    Annual accounts 202231,9 k €↑
  5. 2021
    Annual accounts 202117,4 k €↓
  6. 2020
    Annual accounts 202039,6 k €↑
  7. 2019
    Annual accounts 201929,1 k €↓
  8. 2018
    Annual accounts 201846,5 k €↑
  9. 2017
    Annual accounts 20178,8 k €↑
  10. 2016
    Annual accounts 20165 k €↑
  11. 2015
    Annual accounts 2015-28,5 k €↓
  12. 2014
    Annual accounts 20147,2 k €
  13. 30/01/2013
    IncorporationPrivate company with limited liability