ACTIVE

MODALED

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Financial year 2025 · closed on 31/12/2025

Net result

327,8 k €

+12.3% YoY

Gross margin

516,3 k €

+12.1% YoY

Equity

382,1 k €

+27.4% YoY

What does MODALED do?

MODALED is a Private limited company incorporated in 2010. Its main activity is: Electrical installation. Its registered office is in De Panne.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0829.912.006

Incorporation

05/10/2010

Legal form

Private limited company

Registered office

Poststraat 26
8660 De Panne · FlandreSee on map

Contributed capital

12 400,00 €

Latest accounts

31/12/2025

Activities (NACE)

43211Electrical installation· main 43211Electrical installation 43211Electrical installation 79909Other reservation service and related activities 82400Office administrative, office support and other business support activities

Joint committees (3)

149
14901
201

Contacts

2 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011
Income statement
Gross margin	516,3 k €	+12.1%	460,5 k €	+184%	162,4 k €	-13.2%	187,2 k €	+5.4%	177,5 k €	+54.9%	114,6 k €	+42.9%	80,2 k €	+64.7%	48,7 k €	+56.0%	31,2 k €	+190%	10,8 k €	-67.1%	32,7 k €	-59.1%	79,9 k €	+26.3%	63,3 k €	+1.5%	62,4 k €
EBITDA	434,0 k €	+7.8%	402,5 k €	+315%	97,0 k €	-33.2%	145,1 k €	+29.0%	112,5 k €	+141%	46,8 k €	+17.5%	39,8 k €	+21.6%	32,7 k €	+71.3%	19,1 k €	+183%	6,7 k €	-76.8%	29,1 k €	+17.5%	24,8 k €	+42.0%	17,5 k €	-27.4%	24,0 k €
Operating result	382,1 k €	+8.3%	352,7 k €	+585%	51,5 k €	-52.0%	107,2 k €	+36.1%	78,8 k €	+220%	24,6 k €	+27.7%	19,3 k €	+4.5%	18,5 k €	+191%	6,4 k €	+195%	-6,7 k €	-152%	12,9 k €	+0.7%	12,8 k €	+111%	6,1 k €	-48.5%	11,8 k €
Net result	327,8 k €	+12.3%	291,9 k €	+1472%	18,6 k €	-72.9%	68,5 k €	+48.4%	46,2 k €	+394%	9,3 k €	-17.1%	11,3 k €	+24.9%	9,0 k €	+132%	3,9 k €	+141%	-9,4 k €	-275%	5,4 k €	-42.4%	9,3 k €	+106%	4,5 k €	-41.8%	7,8 k €
Balance sheet
Equity	382,1 k €	+27.4%	300,0 k €	+44.2%	208,1 k €	+9.8%	189,5 k €	+56.6%	121,0 k €	+95.7%	61,8 k €	+17.8%	52,5 k €	+27.3%	41,2 k €	+21.8%	33,9 k €	+13.0%	30,0 k €	-23.9%	39,4 k €	+15.8%	34,0 k €	+37.7%	24,7 k €	+22.4%	20,2 k €
Total assets	1,2 M €	+21.6%	1,0 M €	+50.3%	682,0 k €	+14.3%	596,5 k €	+24.0%	481,0 k €	+35.0%	356,3 k €	+87.6%	189,9 k €	-0.6%	191,0 k €	+20.8%	158,2 k €	+2.3%	154,7 k €	-10.8%	173,4 k €	+128%	76,0 k €	-4.3%	79,4 k €	+34.1%	59,2 k €
Cash	37,2 k €	+353%	8,2 k €	-74.7%	32,5 k €	+79.8%	18,1 k €	-31.3%	26,3 k €	+1.5%	25,9 k €	+28.8%	20,1 k €	+39.1%	14,5 k €	-23.6%	19,0 k €	+152%	7,5 k €	+7.2%	7,0 k €	+36.7%	5,1 k €	-72.9%	18,9 k €	+42.8%	13,2 k €
Debts	864,5 k €	+19.2%	725,3 k €	+53.0%	474,0 k €	+16.5%	407,0 k €	+13.1%	360,0 k €	+22.2%	294,5 k €	+114%	137,4 k €	-8.3%	149,8 k €	+20.5%	124,3 k €	-0.3%	124,7 k €	-6.9%	134,0 k €	+219%	42,0 k €	-23.3%	54,7 k €	+40.1%	39,1 k €
Other
Workforce	–		–		–		–		–		–		–		–		0,4 ETP		–		–		1,2 ETP	+20.0%	1,0 ETP	0.0%	1,0 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

Steve Vermeulen

Manager

Active

Ended mandates

Modaman

Director · since 01 juillet 2024 · 0805.047.342

Represented by VERMEULEN STEVE

Ended

Steve Vermeulen

Director

Ended

At this address

Other companies at this address

Company	CBE no.
Modaman● Active	0805.047.342

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Micro model	Micro model	Micro model	Micro 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	06/05/2026	09/05/2025	30/08/2024	30/08/2023	23/08/2022	25/08/2021
General meeting	30/04/2026	29/04/2025	29/06/2024	30/06/2023	11/06/2022	30/06/2021
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

15 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/04/2026	06/05/2026	Dutch	PDF
Abridged model	31/12/2024	29/04/2025	09/05/2025	Dutch	PDF
Micro model	31/12/2023	29/06/2024	30/08/2024	Dutch	PDF
Micro model	31/12/2022	30/06/2023	30/08/2023	Dutch	PDF
Micro model	31/12/2021	11/06/2022	23/08/2022	Dutch	PDF
Micro model	31/12/2020	30/06/2021	25/08/2021	Dutch	PDF
Micro model	31/12/2019	27/08/2020	28/08/2020	Dutch	PDF
Micro model	31/12/2018	30/06/2019	24/08/2019	Dutch	PDF
Micro model	31/12/2017	27/02/2018	07/03/2018	Dutch	PDF
Abridged model	31/12/2016	22/03/2017	05/03/2018	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	09/08/2016	Dutch	PDF
Abridged model	31/12/2014	13/06/2015	06/07/2015	Dutch	PDF
Abridged model	31/12/2013	14/06/2014	06/11/2014	Dutch	PDF
Abridged model	31/12/2012	08/06/2013	02/10/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	31/08/2012	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

Steve Vermeulen

Manager

Active

Ended mandates

Modaman

Director · since 01 juillet 2024 · 0805.047.342

Represented by VERMEULEN STEVE

Ended

Steve Vermeulen

Director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/06/2019
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - BENAMING - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Registered office17/01/2014
MAATSCHAPPELIJKE ZETEL
PDF
Other14/10/2010
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 2025327,8 k €↑
2024
Annual accounts 2024291,9 k €↑
2023
Annual accounts 202318,6 k €↓
2022
Annual accounts 202268,5 k €↑
2021
Annual accounts 202146,2 k €↑
2019
Annual accounts 20199,3 k €↓
2018
Annual accounts 201811,3 k €↑
2017
Annual accounts 20179,0 k €↑
2016
Annual accounts 20163,9 k €↑
2015
Annual accounts 2015-9,4 k €↓
2014
Annual accounts 20145,4 k €↓
2013
Annual accounts 20139,3 k €↑
2012
Annual accounts 20124,5 k €↓
2011
Annual accounts 20117,8 k €
05/10/2010
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

MODALED

Overview

What does MODALED do?

Trend over 14 financial years

Indicative valuation

Board of directors

Other companies at this address

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