ACTIVE

UNDERLINED

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Financial year 2025 · closed on 30/06/2025
Net result
112,4 k €
-28.5% YoY
Gross margin
200,5 k €
-22.6% YoY
Equity
531,8 k €
+26.8% YoY

What does UNDERLINED do?

UNDERLINED is a Private limited company incorporated in 2013. Its main activity is: Computer programming activities. Its registered office is in Gent.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0538.856.180
Incorporation
23/09/2013
Legal form
Private limited company
Registered office
Nekkersvijverstraat 137
9040 Gent · FlandreSee on map
Contributed capital
18 600,00 €
Latest accounts
30/06/2025
Activities (NACE)
62010Computer programming activities· main62100Computer programming, consultancy and related activities
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 11 financial years

20252024202320222021202020192018201720162015
Income statement
Gross margin200,5 k €259,1 k €233,3 k €197 k €222,1 k €157,6 k €96,1 k €57,2 k €70,4 k €53,3 k €82,7 k €
EBITDA193,7 k €253,3 k €228,2 k €189,5 k €218,7 k €155,6 k €89,6 k €23,7 k €40,5 k €27,1 k €68,9 k €
Operating result158,1 k €205,5 k €203,4 k €164,5 k €157,5 k €151,4 k €85,2 k €22,4 k €34,4 k €24,6 k €61,9 k €
Net result112,4 k €157,2 k €155,1 k €125,5 k €119,5 k €115,5 k €68,2 k €18,6 k €29,7 k €18,8 k €43,5 k €
Balance sheet
Equity531,8 k €419,3 k €362,2 k €237 k €201,5 k €187 k €196,5 k €129,3 k €110,6 k €80,9 k €62,1 k €
Total assets763,2 k €776 k €661,8 k €536,8 k €616,2 k €319,5 k €213,5 k €155 k €168,6 k €98,9 k €91,5 k €
Cash136,7 k €145,2 k €230,3 k €73 k €152,1 k €279,1 k €191 k €141,4 k €125,2 k €82,1 k €54,8 k €
Debts231,1 k €356,3 k €299,6 k €299,8 k €414,7 k €132,6 k €17 k €25,8 k €57,9 k €17,2 k €28,6 k €
Other
Workforce–––––––––1,0 ETP1,0 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€
See the valuation
Governance

Board of directors

Seen on filing of 30/06/2025 · 2 active · 3 ended

Active mandates

Rosaline Fiems

Director · since 29 avril 2024

Active
Michiel Vancoillie

Director · since 19 septembre 2013

Active

Ended mandates

Michiel Vancoillie

Manager · since 01 octobre 2013

Ended
Michiel Vancoillie

Director

Ended
Michiel Vancoillie

Manager

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro modelMicro modelMicro model
Start of the financial year01/07/202401/07/202301/07/202201/07/202101/07/202001/07/2019
Closing of the financial year30/06/202530/06/202430/06/202330/06/202230/06/202130/06/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date29/01/202627/02/202515/12/202309/12/202207/01/202227/01/2021
General meeting30/12/202513/12/202408/12/202309/12/202210/12/202111/12/2020
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

11 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model30/06/202530/12/202529/01/2026DutchPDF
Micro model30/06/202413/12/202427/02/2025DutchPDF
Micro model30/06/202308/12/202315/12/2023DutchPDF
Micro model30/06/202209/12/202209/12/2022DutchPDF
Micro model30/06/202110/12/202107/01/2022DutchPDF
Micro model30/06/202011/12/202027/01/2021DutchPDF
Micro model30/06/201913/12/201924/01/2020DutchPDF
Micro model30/06/201814/12/201803/01/2019DutchPDF
Micro model30/06/201708/12/201730/01/2018DutchPDF
Abridged model30/06/201630/12/201612/01/2017DutchPDF
Abridged model30/06/201511/12/201518/12/2015DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 30/06/2025 · 2 active · 3 ended

Active mandates

Rosaline Fiems

Director · since 29 avril 2024

Active
Michiel Vancoillie

Director · since 19 septembre 2013

Active

Ended mandates

Michiel Vancoillie

Manager · since 01 octobre 2013

Ended
Michiel Vancoillie

Director

Ended
Michiel Vancoillie

Manager

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates03/06/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates10/01/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM - DOEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office16/03/2016
    MAATSCHAPPELIJKE ZETEL - ADRESSEN ANDERS DAN MAATSCHAPPELIJKE ZETEL
    PDF
  • Other25/09/2013
    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

Timeline

  1. 2025
    Annual accounts 2025112,4 k €↓
  2. 2024
    Annual accounts 2024157,2 k €↑
  3. 2023
    Annual accounts 2023155,1 k €↑
  4. 2022
    Annual accounts 2022125,5 k €↑
  5. 2021
    Annual accounts 2021119,5 k €↑
  6. 2020
    Annual accounts 2020115,5 k €↑
  7. 2019
    Annual accounts 201968,2 k €↑
  8. 2018
    Annual accounts 201818,6 k €↓
  9. 2017
    Annual accounts 201729,7 k €↑
  10. 2016
    Annual accounts 201618,8 k €↓
  11. 2015
    Annual accounts 201543,5 k €
  12. 23/09/2013
    IncorporationPrivate limited company