ACTIVE

ELINDUS

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Financial year 2025 · closed on 30/09/2025

Net result

18 M €

+13.3% YoY

Revenue

382,6 M €

+54.0% YoY

Equity

19,3 M €

-9.3% YoY

Workforce

54,1 ETP

+28.8% YoY

What does ELINDUS do?

ELINDUS is a Public limited company incorporated in 2012. Its main activity is: Trade of electricity. Its registered office is in Waregem. It employs on average 54,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0844.206.143

Incorporation

24/02/2012

Legal form

Public limited company

Registered office

Meersstraat 13 box 2.1
8790 Waregem · FlandreSee on map

Contributed capital

1 039 217,40 €

Latest accounts

30/09/2025

Average workforce

54,1 ETP

Activities (NACE)

35140Trade of electricity· main 35150Electric power generation, transmission and distribution 71121Engineering activities and related technical consultancy 71121Engineering activities and related technical consultancy 64200Activities of holding companies 64210Activities of holding companies+2

Joint committees (1)

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

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
Revenue	382,6 M €	+54.0%	248,5 M €	+1.8%	244,2 M €	-4.6%	256 M €	+138%	107,4 M €	+102%	53,1 M €	+8.8%	48,8 M €		–		–		–		–
EBITDA	22,9 M €	+18.1%	19,4 M €	+125%	8,7 M €	+4.7%	8,3 M €	+346%	1,9 M €	+622%	257 k €	-47.8%	492,2 k €	-19.6%	612,5 k €	+979%	56,8 k €	-86.3%	413 k €	+16250%	2,5 k €
Operating result	22,9 M €	+17.3%	19,6 M €	+163%	7,4 M €	+7.8%	6,9 M €	+373%	1,5 M €	+730%	-231,8 k €	-165%	357 k €	-15.6%	422,9 k €	+3928%	10,5 k €	-97.3%	394,9 k €	+2491%	-16,5 k €
Net result	18 M €	+13.3%	15,9 M €	+160%	6,1 M €	+21.2%	5 M €	+421%	969,5 k €	+425%	-298,2 k €	-248%	202,1 k €	-23.3%	263,5 k €	+13037%	2 k €	-99.5%	370,3 k €	+2313%	-16,7 k €
Balance sheet
Equity	19,3 M €	-9.3%	21,3 M €	+63.0%	13,1 M €	+83.1%	7,1 M €	+222%	2,2 M €	+1059%	191,5 k €	-60.9%	489,7 k €	+70.3%	287,6 k €	+1092%	24,1 k €	+9.1%	22,1 k €	+1085%	1,9 k €
Total assets	86,7 M €	+6.6%	81,3 M €	+37.4%	59,2 M €	-11.2%	66,7 M €	+109%	31,9 M €	+215%	10,1 M €	+63.2%	6,2 M €	+40.7%	4,4 M €	+73.1%	2,6 M €	+147%	1 M €	+265%	282,7 k €
Cash	46,5 M €	-0.7%	46,8 M €	+40.6%	33,3 M €	-35.1%	51,3 M €	+195%	17,4 M €	+604%	2,5 M €	+11.0%	2,2 M €	+234%	664,6 k €	+344%	149,7 k €	-81.2%	795,8 k €	+295%	201,6 k €
Debts	67,3 M €	+12.3%	59,9 M €	+30.2%	46 M €	-22.6%	59,4 M €	+105%	29 M €	+425%	5,5 M €	+23.9%	4,5 M €	+33.9%	3,3 M €	+31.9%	2,5 M €	+150%	1 M €	+259%	280,8 k €
Other
Workforce	54,1 ETP	+28.8%	42,0 ETP	+16.7%	36,0 ETP	+29.5%	27,8 ETP	-1.4%	28,2 ETP	-12.1%	32,1 ETP	+92.2%	16,7 ETP	+23.7%	13,5 ETP	+133%	5,8 ETP	+152%	2,3 ETP		–

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 3 active · 42 ended

Active mandates

KWANTUMSPRONG

Managing director · since 01 mai 2024 · until 02 mars 2030 · 0773.343.089

Represented by Steven Vandenhende

Active

Lode Hullebusch

Managing director · since 01 mai 2024 · until 02 mars 2030 · 0647.793.714

Represented by Lode Hullebusch

Active

TRADERWORX

Managing director · since 01 mai 2024 · until 02 mars 2030 · 0639.825.163

Represented by Matthias Detremmerie

Active

Ended mandates

KWANTUMSPRONG

Managing director · since 01 mai 2024 · 0773.343.089

Represented by Steven Vandenhende

Ended

Lode Hullebusch

Managing director · since 05 juillet 2019 · 0647.793.714

Represented by Lode Hullebusch

Ended

Strado Group

Chairman of the board of directors · since 05 juillet 2019 · 0831.118.071

Represented by Steven Vandenhende

Ended

AMPIO

Director · since 29 septembre 2017 · 0817.181.844

Represented by Hans Verbeke

Ended

At this address

Other companies at this address

Company	CBE no.
ENTRADO● Active	0833.105.977
Strado Group● Active	0831.118.071

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/01/2019
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	21 months
Filing date	09/03/2026	22/04/2025	26/04/2024	12/04/2023	11/04/2022	29/04/2021
General meeting	07/03/2026	29/03/2025	20/04/2024	17/03/2023	25/03/2022	30/03/2021
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

12 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	30/09/2025	07/03/2026	09/03/2026	Dutch	PDF
Full model	30/09/2024	29/03/2025	22/04/2025	Dutch	PDF
Full model	30/09/2023	20/04/2024	26/04/2024	Dutch	PDF
Full model	30/09/2022	17/03/2023	12/04/2023	Dutch	PDF
Full model	30/09/2021	25/03/2022	11/04/2022	Dutch	PDF
Full model	30/09/2020	30/03/2021	29/04/2021	Dutch	PDF
Full model	31/12/2018	07/06/2019	05/07/2019	Dutch	PDF
Abridged model	31/12/2017	01/06/2018	22/06/2018	Dutch	PDF
Abridged model	31/12/2016	03/06/2017	08/06/2017	Dutch	PDF
Abridged model	31/12/2015	10/06/2016	13/06/2016	Dutch	PDF
Abridged model	31/12/2014	13/03/2015	18/03/2015	Dutch	PDF
Abridged model	31/12/2013	07/06/2014	25/07/2014	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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 · 3 active · 42 ended

Active mandates

KWANTUMSPRONG

Managing director · since 01 mai 2024 · until 02 mars 2030 · 0773.343.089

Represented by Steven Vandenhende

Active

Lode Hullebusch

Managing director · since 01 mai 2024 · until 02 mars 2030 · 0647.793.714

Represented by Lode Hullebusch

Active

TRADERWORX

Managing director · since 01 mai 2024 · until 02 mars 2030 · 0639.825.163

Represented by Matthias Detremmerie

Active

Ended mandates

KWANTUMSPRONG

Managing director · since 01 mai 2024 · 0773.343.089

Represented by Steven Vandenhende

Ended

Lode Hullebusch

Managing director · since 05 juillet 2019 · 0647.793.714

Represented by Lode Hullebusch

Ended

Strado Group

Chairman of the board of directors · since 05 juillet 2019 · 0831.118.071

Represented by Steven Vandenhende

Ended

AMPIO

Director · since 29 septembre 2017 · 0817.181.844

Represented by Hans Verbeke

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates10/09/2026
Herbenoeming commissaris
PDF
Mandates27/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/08/2023
ONTSLAGEN - BENOEMINGEN
PDF
Registered office24/01/2022
MAATSCHAPPELIJKE ZETEL
PDF
Mandates05/10/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/06/2020
ONTSLAGEN - BENOEMINGEN
PDF
Other09/01/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates13/11/2019
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

2025
Annual accounts 202518 M €↑
2024
Annual accounts 202415,9 M €↑
01/05/2024
demissionVANERTEC — bestuurder
01/05/2024
nominationKWANTUMSPRONG — bestuurder
20/04/2024
reconductionLode Hullebusch CommV — bestuurder
20/04/2024
reconductionVANERTEC BV — bestuurder
20/04/2024
reconductionTRADERWORX BV — bestuurder
20/04/2024
demissionVandenhende Steven — voorzitter van de raad van bestuur
20/04/2024
nominationVANERTEC BV — voorzitter van de raad van bestuur
2023
Annual accounts 20236,1 M €↑
17/03/2023
reconductionBV Figurad Bedrijfsrevisoren — commissaris
2022
Annual accounts 20225 M €↑
2021
Annual accounts 2021969,5 k €↑
2018
Annual accounts 2018-298,2 k €↓
2017
Annual accounts 2017202,1 k €↓
2016
Annual accounts 2016263,5 k €↑
2015
Annual accounts 20152 k €↓
2014
Annual accounts 2014370,3 k €↑
2013
Annual accounts 2013-16,7 k €
24/02/2012
IncorporationPublic 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

ELINDUS

Overview

What does ELINDUS 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