NORMAL SITUATION

ZAHD

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Financial year 2025 · closed on 31/03/2025

Net result

97,2 k €

+233.1% YoY

Gross margin

-15,1 k €

+79.2% YoY

Equity

3,7 M €

-39.6% YoY

Company — Normal situation.

Strike-off: 19 août 2026

What does ZAHD do?

ZAHD is a Public limited company incorporated in 2014.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0556.915.897

Incorporation

29/07/2014

Legal form

Public limited company

Contributed capital

5 200 000,00 €

Latest accounts

31/03/2025

Signals

ProfitableSolid equityGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 10 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016
Income statement
Gross margin	-15,1 k €	+79.2%	-72,7 k €	-18.4%	-61,4 k €	+12.0%	-69,8 k €	-34.1%	-52 k €	-10.6%	-47 k €	-57.5%	-29,9 k €	-123%	-13,4 k €	+39.9%	-22,3 k €	+39.5%	-36,9 k €
EBITDA	-15,1 k €	+79.4%	-73,3 k €	-17.7%	-62,3 k €	+11.8%	-70,6 k €	-33.5%	-52,9 k €	-10.4%	-47,9 k €	-55.3%	-30,9 k €	-125%	-13,7 k €	+39.3%	-22,6 k €	+40.1%	-37,8 k €
Operating result	-15,1 k €	+79.4%	-73,3 k €	-17.7%	-62,3 k €	+11.8%	-70,6 k €	-0.9%	-70 k €	-46.0%	-47,9 k €	-55.3%	-30,9 k €	-125%	-13,7 k €	+39.3%	-22,6 k €	+40.1%	-37,8 k €
Net result	97,2 k €	+233%	-73 k €	-32.9%	-54,9 k €	+96.7%	-1,6 M €	-21913%	-7,5 k €	-101%	583,3 k €	+219%	-489 k €	-2232%	22,9 k €	+274%	6,1 k €	-80.2%	30,9 k €
Balance sheet
Equity	3,7 M €	-39.6%	6,1 M €	-1.2%	6,1 M €	-0.9%	6,2 M €	-21.0%	7,8 M €	-0.1%	7,9 M €	+8.0%	7,3 M €	-6.3%	7,8 M €	+0.3%	7,7 M €	+0.1%	7,7 M €
Total assets	4,2 M €	-32.2%	6,1 M €	-0.4%	6,1 M €	-1.8%	6,3 M €	-21.2%	7,9 M €	-2.1%	8,1 M €	+2.7%	7,9 M €	-6.2%	8,4 M €	+0.6%	8,4 M €	+4.8%	8 M €
Cash	347 k €	-15.0%	408 k €	+11.8%	364,8 k €	+5.5%	345,7 k €	-28.0%	480 k €	-15.7%	569,1 k €	+168%	212,4 k €	-9.1%	233,7 k €	+30.7%	178,8 k €	+317%	42,9 k €
Debts	481,6 k €	+850%	50,7 k €	+3317%	1,5 k €	-97.5%	60 k €	-39.5%	99,2 k €	-61.9%	260,6 k €	-58.7%	631 k €	-4.7%	661,9 k €	+3.9%	636,8 k €	+145%	259,6 k €

Governance

Board of directors

Seen on filing of 31/03/2025 · 3 active · 10 ended

Active mandates

Thierry Delfosse

Managing director · since 31 juillet 2024 · until 31 juillet 2030

Active

Thierry Monsieur Delfosse

Director · since 31 juillet 2024 · until 31 juillet 2030

Active

Aude DUPUY

Director · since 19 janvier 2024 · until 19 janvier 2030

Active

Ended mandates

AUDE DUPUY

Director · since 31 juillet 2024

Ended

Aude DUPUY

Director · since 10 septembre 2020 · until 10 septembre 2026

Ended

L3C

Director · since 10 septembre 2020 · until 10 septembre 2026 · 0821.753.811

Represented by Thierry DELFOSSE

Ended

L3C

Managing director · since 10 septembre 2020 · until 10 septembre 2026 · 0821.753.811

Represented by Thierry DELFOSSE

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	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020	01/04/2019
Closing of the financial year	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021	31/03/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	28/10/2025	30/09/2024	12/10/2023	24/10/2022	25/10/2021	19/11/2020
General meeting	11/09/2025	12/09/2024	14/09/2023	08/09/2022	09/09/2021	10/09/2020
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

10 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/03/2025	11/09/2025	28/10/2025	French	PDF
Abridged model	31/03/2024	12/09/2024	30/09/2024	French	PDF
Abridged model	31/03/2023	14/09/2023	12/10/2023	French	PDF
Abridged model	31/03/2022	08/09/2022	24/10/2022	French	PDF
Abridged model	31/03/2021	09/09/2021	25/10/2021	French	PDF
Abridged model	31/03/2020	10/09/2020	19/11/2020	French	PDF
Abridged model	31/03/2019	12/09/2019	18/11/2019	French	PDF
Abridged model	31/03/2018	13/09/2018	29/10/2018	French	PDF
Abridged model	31/03/2017	14/09/2017	31/10/2017	French	PDF
Abridged model	31/03/2016	08/09/2016	26/10/2016	French	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 31/03/2025 · 3 active · 10 ended

Active mandates

Thierry Delfosse

Managing director · since 31 juillet 2024 · until 31 juillet 2030

Active

Thierry Monsieur Delfosse

Director · since 31 juillet 2024 · until 31 juillet 2030

Active

Aude DUPUY

Director · since 19 janvier 2024 · until 19 janvier 2030

Active

Ended mandates

AUDE DUPUY

Director · since 31 juillet 2024

Ended

Aude DUPUY

Director · since 10 septembre 2020 · until 10 septembre 2026

Ended

L3C

Director · since 10 septembre 2020 · until 10 septembre 2026 · 0821.753.811

Represented by Thierry DELFOSSE

Ended

L3C

Managing director · since 10 septembre 2020 · until 10 septembre 2026 · 0821.753.811

Represented by Thierry DELFOSSE

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring11/08/2025
RUBRIQUE FIN (CESSATION, ANNULATION CESSATION, NULLITE, CONC, REORGANISATION JUDICIAIRE, ETC...) - CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Other18/06/2025
DIVERS
PDF
Mandates12/09/2024
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates06/05/2024
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates01/02/2022
DEMISSIONS, NOMINATIONS
PDF
Registered office01/02/2022
SIEGE SOCIAL
PDF
Other07/08/2014
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 202597,2 k €↑
2024
Annual accounts 2024-73 k €↓
2023
Annual accounts 2023-54,9 k €↑
2022
Annual accounts 2022-1,6 M €↓
2021
Annual accounts 2021-7,5 k €↓
2020
Annual accounts 2020583,3 k €↑
2019
Annual accounts 2019-489 k €↓
2018
Annual accounts 201822,9 k €↑
2017
Annual accounts 20176,1 k €↓
2016
Annual accounts 201630,9 k €
29/07/2014
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

ZAHD

Overview

What does ZAHD do?

Trend over 10 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