ACTIVE

Classified Cycling

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Financial year 2025 · closed on 31/12/2025
Net result
-4,9 M €
+33.0% YoY
Gross margin
-2,2 M €
+41.6% YoY
Equity
18,4 M €
+24.6% YoY
Workforce
19,0 ETP
-19.1% YoY

What does Classified Cycling do?

Classified Cycling is a Private limited company incorporated in 2019. Its main activity is: Manufacture of bicycles and invalid carriages. Its registered office is in Antwerpen. It employs on average 19,0 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0733.606.545
Incorporation
02/09/2019
Legal form
Private limited company
Registered office
Damplein 23
2060 Antwerpen · FlandreSee on map
Contributed capital
44 799 768,73 €
Latest accounts
31/12/2025
Average workforce
19,0 ETP
Activities (NACE)
30920Manufacture of bicycles and invalid carriages· main30920Manufacture of bicycles and invalid carriages46495Wholesale of other household goods46495Wholesale of other household goods71209Technical testing and analysis71209Technical testing and analysis
Joint committees (2)
  • 11101
  • 20900
Signals
Solid equityLow riskGood liquidityHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 5 financial years

20252024202320222021
Income statement
Gross margin-2,2 M €-3,8 M €-2,7 M €-2,2 M €-1,4 M €
EBITDA-3,9 M €-5,8 M €-4,7 M €-3,8 M €-2,2 M €
Operating result-4,9 M €-7,4 M €-6,1 M €-4,2 M €-2,4 M €
Net result-4,9 M €-7,4 M €-6,2 M €-4,4 M €-2,5 M €
Balance sheet
Equity18,4 M €14,8 M €13,7 M €13,6 M €6,6 M €
Total assets19,3 M €16,8 M €14,6 M €17,3 M €8,8 M €
Cash7,8 M €5,1 M €3,9 M €7,7 M €2,1 M €
Debts754,2 k €1,1 M €908,3 k €2,5 M €2,2 M €
Other
Workforce19,0 ETP23,5 ETP26,6 ETP22,7 ETP13,2 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 10 ended

Active mandates

Christian Cigrang

Director · since 20 octobre 2023

Active
Nicholas Evans

Director · since 04 novembre 2022 · until 04 novembre 2028

Active
Volo BV

Director · since 06 septembre 2019

Represented by van DRUTEN ROËLL

Active
Icarus Management

Managing director · since 02 septembre 2019 · 0689.991.880

Represented by Plouvier Mathias

Active

Ended mandates

Giorgio d’Ambrosio

Director · since 06 janvier 2023 · until 11 décembre 2026

Ended
Jörg Mohaupt

Director · since 11 décembre 2020 · until 06 janvier 2023

Ended
Jörg Mohaupt

Director · since 11 décembre 2020

Ended
Barend Braaksma

Director · since 06 septembre 2019 · until 11 décembre 2020

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202102/09/2019
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 months16 months
Filing date15/06/202617/07/202507/06/202425/05/202327/06/202223/09/2021
General meeting15/05/202620/06/202510/05/202411/05/202330/05/202225/06/2021
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

6 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202515/05/202615/06/2026DutchPDF
Abridged model31/12/202420/06/202517/07/2025DutchPDF
Abridged model31/12/202310/05/202407/06/2024DutchPDF
Abridged model31/12/202211/05/202325/05/2023DutchPDF
Abridged model31/12/202130/05/202227/06/2022DutchPDF
Abridged model31/12/202025/06/202123/09/2021DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 31/12/2025 · 4 active · 10 ended

Active mandates

Christian Cigrang

Director · since 20 octobre 2023

Active
Nicholas Evans

Director · since 04 novembre 2022 · until 04 novembre 2028

Active
Volo BV

Director · since 06 septembre 2019

Represented by van DRUTEN ROËLL

Active
Icarus Management

Managing director · since 02 septembre 2019 · 0689.991.880

Represented by Plouvier Mathias

Active

Ended mandates

Giorgio d’Ambrosio

Director · since 06 janvier 2023 · until 11 décembre 2026

Ended
Jörg Mohaupt

Director · since 11 décembre 2020 · until 06 janvier 2023

Ended
Jörg Mohaupt

Director · since 11 décembre 2020

Ended
Barend Braaksma

Director · since 06 septembre 2019 · until 11 décembre 2020

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Capital / shares08/12/2025
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - KAPITAAL - AANDELEN
    PDF
  • Mandates05/12/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates18/08/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Capital / shares21/05/2024
    KAPITAAL - AANDELEN
    PDF
  • Capital / shares28/02/2024
    KAPITAAL - AANDELEN
    PDF
  • Capital / shares25/01/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - KAPITAAL - AANDELEN
    PDF
  • Mandates31/10/2023
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates24/05/2023
    ONTSLAGEN - BENOEMINGEN
    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 2025-4,9 M €↑
  2. 2024
    Annual accounts 2024-7,4 M €↓
  3. 2023
    Annual accounts 2023-6,2 M €↓
  4. 2022
    Annual accounts 2022-4,4 M €↓
  5. 2021
    Annual accounts 2021-2,5 M €
  6. 02/09/2019
    IncorporationPrivate limited company