ACTIVE

KARSTE

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Financial year 2025 · closed on 31/12/2025

Net result

166,8 k €

+1.5% YoY

Gross margin

260,1 k €

+1.0% YoY

Equity

1,2 M €

+2.5% YoY

What does KARSTE do?

KARSTE is a Private limited company incorporated in 2009. Its main activity is: Activities of head offices. Its registered office is in Malle.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0820.742.734

Incorporation

20/11/2009

Legal form

Private limited company

Registered office

Fresialaan 4
2390 Malle · FlandreSee on map

Contributed capital

12 400,00 €

Latest accounts

31/12/2025

Activities (NACE)

70100Activities of head offices· main 70100Activities of head offices

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Gross margin	260,1 k €	+1.0%	257,5 k €	+10.1%	233,8 k €	-7.4%	252,6 k €	+77.9%	142 k €	+0.5%	141,2 k €	+10.8%	127,4 k €	-2.5%	130,7 k €	-4.4%	136,7 k €	-0.1%	136,8 k €	+11.9%	122,3 k €	+9.2%	112 k €	-0.7%	112,8 k €	+14.4%	98,6 k €	+25.8%	78,4 k €
EBITDA	259 k €	+1.1%	256,3 k €	+10.2%	232,6 k €	-7.4%	251,1 k €	+79.0%	140,3 k €	+0.6%	139,4 k €	+10.9%	125,7 k €	-2.6%	129,1 k €	-3.6%	133,8 k €	-0.9%	135,1 k €	+11.9%	120,7 k €	+9.5%	110,2 k €	-1.0%	111,3 k €	+13.6%	98 k €	+26.8%	77,3 k €
Operating result	243,4 k €	+0.8%	241,5 k €	+10.3%	219 k €	-10.2%	243,9 k €	+73.8%	140,3 k €	+9.9%	127,6 k €	+12.1%	113,9 k €	-2.5%	116,8 k €	-3.9%	121,5 k €	-9.7%	134,6 k €	+16.0%	116 k €	+10.0%	105,5 k €	-1.1%	106,6 k €	+14.3%	93,3 k €	+30.0%	71,8 k €
Net result	166,8 k €	+1.5%	164,4 k €	+10.2%	149,1 k €	-11.4%	168,4 k €	+78.2%	94,5 k €	+11.8%	84,5 k €	+14.0%	74,1 k €	-43.9%	132,1 k €	+98.1%	66,7 k €	-11.5%	75,3 k €	+22.5%	61,4 k €	+16.8%	52,6 k €	-1.9%	53,6 k €	+25.3%	42,8 k €	-86.8%	324,3 k €
Balance sheet
Equity	1,2 M €	+2.5%	1,1 M €	+16.8%	978,2 k €	+18.0%	829 k €	+25.5%	660,6 k €	+26.5%	522,4 k €	+18.9%	439,5 k €	+20.3%	365,4 k €	-34.8%	560 k €	+13.5%	493,3 k €	+6.8%	462,1 k €	+3.9%	444,6 k €	+3.4%	429,9 k €	+13.8%	377,9 k €	+12.8%	335,1 k €
Total assets	1,4 M €	+0.3%	1,4 M €	+1.4%	1,4 M €	+3.8%	1,3 M €	+9.8%	1,2 M €	-6.5%	1,3 M €	-1.5%	1,3 M €	-2.7%	1,3 M €	+5.0%	1,3 M €	+1.8%	1,2 M €	-1.9%	1,3 M €	+0.9%	1,3 M €	-4.2%	1,3 M €	-2.1%	1,3 M €	-0.4%	1,3 M €
Cash	127,6 k €	+212%	40,9 k €	-43.6%	72,5 k €	+3.8%	69,8 k €	+126%	30,9 k €	+45.2%	21,3 k €	-40.3%	35,6 k €	+45.7%	24,4 k €	+16.3%	21 k €	-44.4%	37,9 k €	-17.2%	45,7 k €	+5.1%	43,5 k €	-43.4%	76,9 k €	+214%	24,5 k €	-45.3%	44,9 k €
Debts	212,5 k €	-9.5%	235 k €	-38.3%	380,8 k €	-21.0%	482,2 k €	-9.6%	533,7 k €	-29.3%	754,8 k €	-11.9%	856,8 k €	-11.4%	967,4 k €	+36.4%	709,4 k €	-5.8%	753,4 k €	-7.0%	809,8 k €	-0.7%	815,1 k €	-7.8%	884,3 k €	-8.3%	963,9 k €	-4.8%	1 M €
Other
Workforce	–		0,0 ETP		0,0 ETP		0,0 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 31/12/2025 · 1 active · 2 ended

Active mandates

Steven De Schrijver

Director · since 16 novembre 2009

Active

Ended mandates

Steven De Schrijver

Manager · since 16 novembre 2009

Ended

De Schrijver Steven

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	27/07/2026	03/07/2025	05/07/2024	26/07/2023	30/08/2022	19/08/2021
General meeting	30/06/2026	27/06/2025	28/06/2024	30/06/2023	30/06/2022	25/06/2021
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

16 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	27/07/2026	Dutch	PDF
Abridged model	31/12/2024	27/06/2025	03/07/2025	Dutch	PDF
Abridged model	31/12/2023	28/06/2024	05/07/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	26/07/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	30/08/2022	Dutch	PDF
Abridged model	31/12/2020	25/06/2021	19/08/2021	Dutch	PDF
Abridged model	31/12/2019	28/07/2020	25/08/2020	Dutch	PDF
Abridged model	31/12/2018	28/06/2019	05/07/2019	Dutch	PDF
Abridged model	31/12/2017	29/06/2018	09/08/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	03/07/2017	Dutch	PDF
Abridged model	31/12/2015	24/06/2016	18/07/2016	Dutch	PDF
Abridged model	31/12/2014	26/06/2015	22/07/2015	Dutch	PDF
Abridged model	31/12/2013	27/06/2014	30/06/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	02/07/2013	Dutch	PDF
Abridged model	31/12/2011	29/06/2012	02/07/2012	Dutch	PDF
Abridged model	31/12/2010	24/06/2011	27/06/2011	Dutch	PDF

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 31/12/2025 · 1 active · 2 ended

Active mandates

Steven De Schrijver

Director · since 16 novembre 2009

Active

Ended mandates

Steven De Schrijver

Manager · since 16 novembre 2009

Ended

De Schrijver Steven

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates20/10/2022
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares17/01/2018
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares20/12/2013
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Other01/12/2009
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 2025166,8 k €↑
2024
Annual accounts 2024164,4 k €↑
2023
Annual accounts 2023149,1 k €↓
2022
Annual accounts 2022168,4 k €↑
2021
Annual accounts 202194,5 k €↑
2019
Annual accounts 201984,5 k €↑
2018
Annual accounts 201874,1 k €↓
2017
Annual accounts 2017132,1 k €↑
2016
Annual accounts 201666,7 k €↓
2015
Annual accounts 201575,3 k €↑
2014
Annual accounts 201461,4 k €↑
2013
Annual accounts 201352,6 k €↓
2012
Annual accounts 201253,6 k €↑
2011
Annual accounts 201142,8 k €↓
2010
Annual accounts 2010324,3 k €
20/11/2009
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

KARSTE

Overview

What does KARSTE do?

Trend over 15 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