ACTIVE

FLEETMASTER

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Financial year 2025 · closed on 31/12/2025

Net result

53,4 k €

-71.0% YoY

Gross margin

2,4 M €

+16.6% YoY

Equity

3,5 M €

+1.6% YoY

Workforce

25,0 ETP

+11.1% YoY

What does FLEETMASTER do?

FLEETMASTER is a Private limited company incorporated in 2011. Its main activity is: Computer programming activities. Its registered office is in Gent. It employs on average 25,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0840.115.218

Incorporation

07/10/2011

Legal form

Private limited company

Registered office

Ottergemsesteenweg-Zuid 808 box B139
9000 Gent · FlandreSee on map

Contributed capital

3 125 900,36 €

Latest accounts

31/12/2025

Average workforce

25,0 ETP

Activities (NACE)

62010Computer programming activities· main 62100Computer programming, consultancy and related activities 58290Other software publishing 58290Other software publishing

Joint committees (2)

200
20000

Contacts

3 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 11 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013
Income statement
Gross margin	2,4 M €	+16.6%	2,1 M €	-5.8%	2,2 M €	-96.0%	55,3 M €	+2450%	2,2 M €	+333%	501,0 k €	+186%	175,1 k €	+26.9%	137,9 k €	+36.3%	101,2 k €	+381%	21,0 k €	+448%	-6,0 k €
EBITDA	280,3 k €	+3.2%	271,7 k €	-9.5%	300,2 k €	-99.4%	53,8 M €	+6086%	870,3 k €	+132%	375,3 k €	+117%	172,8 k €	+34.0%	128,9 k €	+30.0%	99,2 k €	+400%	19,8 k €	+422%	-6,2 k €
Operating result	252,6 k €	+1.9%	247,9 k €	-12.8%	284,3 k €	-99.5%	53,8 M €	+33942%	158,1 k €	-23.9%	207,9 k €	+126%	91,8 k €	+23.2%	74,5 k €	+33.8%	55,7 k €	+2211%	2,4 k €	+117%	-14,4 k €
Net result	53,4 k €	-71.0%	184,1 k €	+45.5%	126,5 k €	-99.7%	40,7 M €	+10817%	372,6 k €	+88.0%	198,2 k €	+163%	75,2 k €	+23.0%	61,2 k €	+15.3%	53,0 k €	+12643%	416,2 €	+103%	-14,9 k €
Balance sheet
Equity	3,5 M €	+1.6%	3,4 M €	+59.7%	2,2 M €	-34.1%	3,3 M €	-43.3%	5,8 M €	+1635%	331,5 k €	+105%	161,3 k €	+41.4%	114,1 k €	+84.8%	61,7 k €	+609%	8,7 k €	+5.0%	8,3 k €
Total assets	4,2 M €	+1.5%	4,2 M €	+3.5%	4,0 M €	-31.0%	5,8 M €	-12.5%	6,7 M €	+509%	1,1 M €	+117%	504,2 k €	+59.7%	315,8 k €	+65.4%	190,9 k €	+98.6%	96,1 k €	+114%	44,9 k €
Cash	3,8 M €	+2.2%	3,8 M €	+48.0%	2,5 M €	-33.3%	3,8 M €	+36.7%	2,8 M €	+1956%	135,5 k €	+277%	35,9 k €	-68.0%	112,0 k €	+1474%	7,1 k €	-33.0%	10,6 k €	-34.5%	16,2 k €
Debts	444,0 k €	+62.4%	273,4 k €	-52.5%	576,1 k €	-64.8%	1,6 M €	+326%	384,0 k €	-44.9%	696,4 k €	+140%	290,3 k €	+45.4%	199,7 k €	+56.1%	127,9 k €	+47.1%	87,0 k €	+141%	36,1 k €
Other
Workforce	25,0 ETP	+11.1%	22,5 ETP	-4.3%	23,5 ETP	+3.1%	22,8 ETP	+11.8%	20,4 ETP	+827%	2,2 ETP		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 38 ended

Active mandates

Edmund James Murray READ

Director · since 08 mai 2026

Active

John COLLINS

Director · since 08 mai 2026

Active

Craig Andrew MAILEY

Director · until 08 mai 2026

Active

Didier VAN BOUWEL

Director · until 08 mai 2026

Active

Furukh SHEIKH

Director · until 08 mai 2026

Active

Martin Leigh FORBES

Director · until 08 mai 2026

Active

Ended mandates

Didier Van Bouwel

Director · since 01 octobre 2024

Ended

Furukh Sheikh

Director · since 01 octobre 2024

Ended

Craig Andrew Mailey

Director · since 22 avril 2021

Ended

Darren Paul Mornin

Director · since 22 avril 2021 · until 01 juillet 2024

Ended

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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	23/07/2026	23/05/2025	31/05/2024	03/04/2023	03/06/2022	16/04/2021
General meeting	30/06/2026	02/05/2025	03/05/2024	22/03/2023	06/05/2022	22/03/2021
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

13 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	23/07/2026	Dutch	PDF
Abridged model	31/12/2024	02/05/2025	23/05/2025	Dutch	PDF
Abridged model	31/12/2023	03/05/2024	31/05/2024	Dutch	PDF
Abridged model	31/12/2022	22/03/2023	03/04/2023	English	PDF
Abridged model	31/12/2021	06/05/2022	03/06/2022	English	PDF
Abridged model	31/12/2020	22/03/2021	16/04/2021	Dutch	PDF
Abridged model	31/12/2019	09/06/2020	08/07/2020	Dutch	PDF
Abridged model	31/12/2018	28/06/2019	22/07/2019	Dutch	PDF
Abridged model	31/12/2017	29/06/2018	27/07/2018	Dutch	PDF
Abridged model	31/12/2016	06/05/2017	12/05/2017	Dutch	PDF
Abridged model	31/12/2015	22/02/2016	09/03/2016	Dutch	PDF
Abridged model	31/12/2014	14/02/2015	29/04/2015	Dutch	PDF
Abridged model	31/12/2013	03/05/2014	05/05/2014	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 6 active · 38 ended

Active mandates

Edmund James Murray READ

Director · since 08 mai 2026

Active

John COLLINS

Director · since 08 mai 2026

Active

Craig Andrew MAILEY

Director · until 08 mai 2026

Active

Didier VAN BOUWEL

Director · until 08 mai 2026

Active

Furukh SHEIKH

Director · until 08 mai 2026

Active

Martin Leigh FORBES

Director · until 08 mai 2026

Active

Ended mandates

Didier Van Bouwel

Director · since 01 octobre 2024

Ended

Furukh Sheikh

Director · since 01 octobre 2024

Ended

Craig Andrew Mailey

Director · since 22 avril 2021

Ended

Darren Paul Mornin

Director · since 22 avril 2021 · until 01 juillet 2024

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/09/2026
Ontslagen en benoemingen
PDF
Mandates07/11/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other28/05/2024
DIVERSEN
PDF
Other14/04/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN
PDF
Mandates28/05/2021
ONTSLAGEN - BENOEMINGEN
PDF
Registered office09/10/2019
MAATSCHAPPELIJKE ZETEL
PDF
Mandates19/09/2019
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares07/03/2019
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
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 202553,4 k €↓
2024
Annual accounts 2024184,1 k €↑
2023
Annual accounts 2023126,5 k €↓
2022
Annual accounts 202240,7 M €↑
2021
Annual accounts 2021372,6 k €↑
2018
Annual accounts 2018198,2 k €↑
2017
Annual accounts 201775,2 k €↑
2016
Annual accounts 201661,2 k €↑
2015
Annual accounts 201553,0 k €↑
2015
Name changeFleetMaster
2014
Annual accounts 2014416,2 €↑
2013
Annual accounts 2013-14,9 k €
2013
Name changeIVIPS
07/10/2011
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

FLEETMASTER

Overview

What does FLEETMASTER do?

Trend over 11 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