ACTIVE

Recubad

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Financial year 2025 · closed on 31/12/2025

Net result

36,1 k €

+8.1% YoY

Gross margin

133,5 k €

+4.1% YoY

Equity

294 k €

+6.8% YoY

Workforce

1,0 ETP

0.0% YoY

What does Recubad do?

Recubad is a Private limited company incorporated in 2013. Its main activity is: Manufacture of ceramic sanitary fixtures. Its registered office is in Leuven. It employs on average 1,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0518.866.658

Incorporation

25/02/2013

Legal form

Private limited company

Registered office

Geldenaaksebaan 456
3001 Leuven · FlandreSee on map

Contributed capital

6 200,00 €

Latest accounts

31/12/2025

Average workforce

1,0 ETP

Activities (NACE)

23420Manufacture of ceramic sanitary fixtures· main 23420Manufacture of ceramic sanitary fixtures 43221Plumbing, heat and air-conditioning installation 43221Plumbing, heat and air-conditioning installation 95290Repair of other personal and household goods 95290Repair of other personal and household goods

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 13 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013
Income statement
Gross margin	133,5 k €	+4.1%	128,3 k €	-26.5%	174,5 k €	+19.6%	145,8 k €	-33.1%	217,8 k €	+27.2%	171,2 k €	-37.4%	273,3 k €	+2.1%	267,5 k €	+23.4%	216,9 k €	-23.0%	281,8 k €	+142%	116,3 k €	+33.6%	87,1 k €	-3.5%	90,3 k €
EBITDA	87 k €	+9.9%	79,2 k €	-40.4%	132,9 k €	-4.9%	139,7 k €	-31.1%	202,8 k €	+29.4%	156,7 k €	-28.6%	219,5 k €	+0.2%	219 k €	+29.0%	169,8 k €	-20.2%	212,8 k €	+84.5%	115,3 k €	+34.0%	86 k €	-2.7%	88,5 k €
Operating result	55,2 k €	+19.4%	46,2 k €	-49.3%	91,2 k €	-10.4%	101,8 k €	-35.6%	158 k €	+81.1%	87,3 k €	-41.9%	150,3 k €	-4.1%	156,8 k €	+45.7%	107,6 k €	-40.9%	182,1 k €	+90.2%	95,7 k €	+44.1%	66,4 k €	-4.3%	69,4 k €
Net result	36,1 k €	+8.1%	33,4 k €	-45.5%	61,4 k €	-14.7%	72 k €	-32.2%	106,2 k €	+75.8%	60,4 k €	-41.4%	103,1 k €	-0.2%	103,2 k €	+74.4%	59,2 k €	-45.5%	108,6 k €	+80.5%	60,2 k €	+48.3%	40,6 k €	-5.4%	42,9 k €
Balance sheet
Equity	294 k €	+6.8%	275,3 k €	-8.9%	302,1 k €	+0.3%	301,1 k €	+4.4%	288,4 k €	+16.3%	248,1 k €	+7.6%	230,5 k €	+35.3%	170,3 k €	+54.9%	110 k €	+17.5%	93,6 k €	+236%	27,8 k €	+219%	8,7 k €	+7.3%	8,1 k €
Total assets	568 k €	-7.5%	613,8 k €	-9.1%	675,2 k €	-9.4%	745,2 k €	-3.5%	772,3 k €	+4.3%	740,8 k €	-8.7%	811,1 k €	+1.3%	800,8 k €	-5.5%	847,8 k €	+138%	355,6 k €	+124%	158,5 k €	-20.9%	200,4 k €	+23.1%	162,7 k €
Cash	221,3 k €	-8.3%	241,2 k €	+269%	65,3 k €	-78.7%	306,1 k €	-2.6%	314,4 k €	+29.4%	243 k €	+1.4%	239,7 k €	+9.5%	218,9 k €	+8.9%	201 k €	-6.6%	215,3 k €	+105%	105,1 k €	-17.8%	127,9 k €	+67.5%	76,4 k €
Debts	274 k €	-19.0%	338,4 k €	-9.3%	373,1 k €	-16.0%	444,2 k €	-8.2%	483,9 k €	-1.6%	491,9 k €	-15.3%	580,6 k €	-7.9%	630,5 k €	-14.6%	737,8 k €	+182%	262 k €	+100%	130,7 k €	-31.6%	190,9 k €	+23.5%	154,6 k €
Other
Workforce	1,0 ETP	0.0%	1,0 ETP	+25.0%	0,8 ETP		–		0,8 ETP	+700%	0,1 ETP	-90.0%	1,0 ETP	+25.0%	0,8 ETP	-33.3%	1,2 ETP	+50.0%	0,8 ETP		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

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

Active mandates

Amaury Piot

Director

Active

Hans Adriaens

Director

Active

Ended mandates

Amaury Piot

Manager

Ended

Hans Adriaens

Manager

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	27/08/2026	30/08/2025	10/09/2024	27/06/2023	25/07/2022	31/08/2021
General meeting	06/06/2026	07/06/2025	01/06/2024	03/06/2023	04/06/2022	05/06/2021
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

13 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	06/06/2026	27/08/2026	Dutch	PDF
Abridged model	31/12/2024	07/06/2025	30/08/2025	Dutch	PDF
Abridged model	31/12/2023	01/06/2024	10/09/2024	Dutch	PDF
Abridged model	31/12/2022	03/06/2023	27/06/2023	Dutch	PDF
Abridged model	31/12/2021	04/06/2022	25/07/2022	Dutch	PDF
Abridged model	31/12/2020	05/06/2021	31/08/2021	Dutch	PDF
Abridged model	31/12/2019	06/06/2020	28/08/2020	Dutch	PDF
Abridged model	31/12/2018	01/06/2019	30/09/2019	Dutch	PDF
Abridged model	31/12/2017	02/06/2018	28/08/2018	Dutch	PDF
Abridged model	31/12/2016	03/06/2017	26/09/2017	Dutch	PDF
Abridged model	31/12/2015	04/06/2016	26/08/2016	Dutch	PDF
Abridged model	31/12/2014	06/06/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	07/06/2014	27/08/2014	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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 · 2 active · 2 ended

Active mandates

Amaury Piot

Director

Active

Hans Adriaens

Director

Active

Ended mandates

Amaury Piot

Manager

Ended

Hans Adriaens

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates05/04/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Registered office26/04/2017
Zetelverplaatsing
PDF
Other27/02/2013
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, 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

2025
Annual accounts 202536,1 k €↑
2024
Annual accounts 202433,4 k €↓
2023
Annual accounts 202361,4 k €↓
2022
Annual accounts 202272 k €↓
2021
Annual accounts 2021106,2 k €↑
2020
Annual accounts 202060,4 k €↓
2019
Annual accounts 2019103,1 k €↓
2018
Annual accounts 2018103,2 k €↑
2017
Annual accounts 201759,2 k €↓
2016
Annual accounts 2016108,6 k €↑
2015
Annual accounts 201560,2 k €↑
2014
Annual accounts 201440,6 k €↓
2013
Annual accounts 201342,9 k €
25/02/2013
IncorporationPrivate 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

Recubad

Overview

What does Recubad do?

Trend over 13 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