ACTIVE

ULNATE

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Financial year 2025 · closed on 30/09/2025

Net result

146,3 k €

+19.7% YoY

Gross margin

218,0 k €

+4.9% YoY

Equity

1,5 M €

+17.3% YoY

What does ULNATE do?

ULNATE is a Private limited company incorporated in 2011. Its main activity is: Activities of holding companies. Its registered office is in Kortrijk.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0835.752.196

Incorporation

26/04/2011

Legal form

Private limited company

Registered office

Mellestraat(Heu) 430
8501 Kortrijk · FlandreSee on map

Contributed capital

15 000,00 €

Latest accounts

30/09/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate 70200Management consultancy activities 70220Business and other management consultancy activities

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		2020		2019		2018		2017		2016		2015		2014		2013		2012
Income statement
Gross margin	218,0 k €	+4.9%	207,8 k €	-28.6%	291,0 k €	+71.9%	169,3 k €	+30.3%	130,0 k €	-41.3%	221,3 k €	-13.0%	254,3 k €	+42.2%	178,7 k €	-6.0%	190,1 k €	-0.9%	191,8 k €	+74.7%	109,8 k €	+11.8%	98,2 k €	+17.4%	83,6 k €	-15.0%	98,4 k €
EBITDA	215,9 k €	+5.6%	204,5 k €	-29.2%	288,9 k €	+71.6%	168,4 k €	+30.5%	129,0 k €	-41.2%	219,5 k €	-12.9%	252,0 k €	+41.8%	177,8 k €	-6.1%	189,3 k €	-0.9%	191,0 k €	+75.4%	108,9 k €	+11.7%	97,4 k €	+17.8%	82,7 k €	-15.7%	98,1 k €
Operating result	203,0 k €	+7.5%	188,8 k €	-31.0%	273,6 k €	+85.7%	147,4 k €	+32.3%	111,4 k €	-46.7%	209,1 k €	-10.1%	232,7 k €	+36.3%	170,7 k €	-2.2%	174,6 k €	-1.3%	177,0 k €	+86.5%	94,9 k €	+16.5%	81,5 k €	+20.8%	67,4 k €	+2.6%	65,7 k €
Net result	146,3 k €	+19.7%	122,2 k €	-29.8%	174,1 k €	+102%	86,0 k €	+11.6%	77,1 k €	-50.4%	155,3 k €	-9.5%	171,6 k €	+65.8%	103,5 k €	-1.0%	104,6 k €	-4.4%	109,4 k €	+115%	51,0 k €	-19.9%	63,7 k €	+58.6%	40,1 k €	+3.6%	38,7 k €
Balance sheet
Equity	1,5 M €	+17.3%	1,2 M €	+18.1%	1,1 M €	+71.6%	616,9 k €	-2.0%	629,4 k €	+0.2%	628,3 k €	+33.5%	470,6 k €	+57.4%	299,0 k €	+24.3%	240,5 k €	+69.4%	142,0 k €	+0.3%	141,6 k €	+12.7%	125,6 k €	+33.8%	93,9 k €	+74.7%	53,7 k €
Total assets	1,9 M €	+11.8%	1,7 M €	+4.4%	1,6 M €	+21.0%	1,3 M €	+3.6%	1,3 M €	+67.5%	755,0 k €	+21.8%	620,1 k €	+52.6%	406,4 k €	+1.3%	401,0 k €	+10.5%	363,1 k €	+17.2%	309,8 k €	+4.3%	297,1 k €	+26.7%	234,4 k €	+15.5%	203,0 k €
Cash	218,2 k €	+19.6%	182,4 k €	-14.8%	214,2 k €	+322%	50,8 k €	-26.2%	68,8 k €	-77.6%	306,6 k €	+51.3%	202,7 k €	+196%	68,4 k €	-70.3%	230,2 k €	+38.1%	166,6 k €	+29.9%	128,3 k €	+29.5%	99,1 k €	+219%	31,0 k €	+50.8%	20,6 k €
Debts	383,9 k €	-5.1%	404,6 k €	-23.1%	526,0 k €	-24.1%	692,6 k €	+9.7%	631,1 k €	+402%	125,7 k €	-15.4%	148,6 k €	+38.4%	107,4 k €	-32.7%	159,6 k €	-27.5%	220,1 k €	+31.7%	167,1 k €	-2.2%	170,8 k €	+22.2%	139,8 k €	-6.0%	148,8 k €

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 30/09/2025 · 1 active · 1 ended

Active mandates

Stefanie Vanden Broucke

Director

Active

Ended mandates

Stefanie VANDEN BROUCKE

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
WINCK!● Active	0838.594.001

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Abridged model	Micro model	Micro model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	20/02/2026	16/04/2025	26/04/2024	28/03/2023	11/02/2022	21/12/2020
General meeting	10/02/2026	03/04/2025	25/04/2024	27/03/2023	10/02/2022	18/12/2020
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

14 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/09/2025	10/02/2026	20/02/2026	Dutch	PDF
Micro model	30/09/2024	03/04/2025	16/04/2025	Dutch	PDF
Micro model	30/09/2023	25/04/2024	26/04/2024	Dutch	PDF
Abridged model	30/09/2022	27/03/2023	28/03/2023	Dutch	PDF
Micro model	30/09/2021	10/02/2022	11/02/2022	Dutch	PDF
Micro model	30/09/2020	18/12/2020	21/12/2020	Dutch	PDF
Micro model	30/09/2019	21/02/2020	13/03/2020	Dutch	PDF
Micro model	30/09/2018	15/02/2019	08/03/2019	Dutch	PDF
Micro model	30/09/2017	16/02/2018	15/03/2018	Dutch	PDF
Abridged model	30/09/2016	30/12/2016	31/01/2017	Dutch	PDF
Abridged model	30/09/2015	30/12/2015	10/02/2016	Dutch	PDF
Abridged model	30/09/2014	20/02/2015	12/05/2015	Dutch	PDF
Abridged model	30/09/2013	21/02/2014	21/03/2014	Dutch	PDF
Abridged model	30/09/2012	15/02/2013	18/02/2013	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 30/09/2025 · 1 active · 1 ended

Active mandates

Stefanie Vanden Broucke

Director

Active

Ended mandates

Stefanie VANDEN BROUCKE

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Other28/04/2011
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 2025146,3 k €↑
2024
Annual accounts 2024122,2 k €↓
2023
Annual accounts 2023174,1 k €↑
2022
Annual accounts 202286,0 k €↑
2021
Annual accounts 202177,1 k €↓
2020
Annual accounts 2020155,3 k €↓
2019
Annual accounts 2019171,6 k €↑
2018
Annual accounts 2018103,5 k €↓
2017
Annual accounts 2017104,6 k €↓
2016
Annual accounts 2016109,4 k €↑
2015
Annual accounts 201551,0 k €↓
2014
Annual accounts 201463,7 k €↑
2013
Annual accounts 201340,1 k €↑
2012
Annual accounts 201238,7 k €
26/04/2011
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

ULNATE

Overview

What does ULNATE 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