ACTIVE

ADELFI

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Financial year 2025 · closed on 31/12/2025

Net result

57,4 k €

-61.5% YoY

Gross margin

7,6 k €

+9.0% YoY

Equity

7,4 M €

+0.8% YoY

What does ADELFI do?

ADELFI is a Private limited company incorporated in 2003. Its main activity is: Market research and public opinion polling. Its registered office is in Kortrijk.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0859.769.101

Incorporation

31/07/2003

Legal form

Private limited company

Registered office

Engelse Wandeling(Mar) 76
8510 Kortrijk · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

73200Market research and public opinion polling· main 73200Market research and public opinion polling 74131Specialised design activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	7,6 k €	+9.0%	7 k €	-21.4%	8,9 k €	+231%	2,7 k €	+226%	820,5 €		–		–		–		–		–		42,5 k €	-2.6%	43,7 k €	+183%	-52,5 k €	-176%	69 k €	-22.6%	89,1 k €	-14.2%	103,8 k €	+54.5%	67,2 k €		0 €		0 €	-100%	50,9 k €
EBITDA	6,5 k €	+10.2%	5,9 k €	-24.6%	7,8 k €	+359%	1,7 k €	+1111%	-168 €	+99.9%	-118,9 k €	-5.8%	-112,4 k €	-764%	-13 k €	-142%	30,7 k €	+49.3%	20,6 k €	-49.2%	40,5 k €	-0.8%	40,9 k €	+162%	-66 k €	-220%	54,9 k €	-29.6%	78 k €	-5.2%	82,3 k €	+23.8%	66,5 k €		–		–		50,6 k €
Operating result	6,5 k €	+10.2%	5,9 k €	-24.6%	7,8 k €	+359%	1,7 k €	+1111%	-168 €	+99.9%	-120 k €	+12.4%	-137,1 k €	-255%	-38,6 k €	-928%	4,7 k €	+266%	-2,8 k €	-116%	17,3 k €	-0.7%	17,5 k €	+119%	-91,4 k €	-437%	27,1 k €	-49.2%	53,4 k €	+13.3%	47,1 k €	+42.0%	33,2 k €		–		–		46,6 k €
Net result	57,4 k €	-61.5%	149,2 k €	+2262%	6,3 k €	+354%	1,4 k €	-82.8%	8,1 k €	+107%	-115 k €	-174%	-42 k €	-102%	2,2 M €	+1659%	-141,6 k €	-425%	43,5 k €	+33.2%	32,7 k €	+208%	10,6 k €	-99.8%	5,4 M €	+1424%	356,9 k €	+18.4%	301,4 k €	+383%	62,4 k €	-94.7%	1,2 M €		–		–		110,4 k €
Balance sheet
Equity	7,4 M €	+0.8%	7,3 M €	+2.1%	7,2 M €	+0.1%	7,2 M €	+0.0%	7,2 M €	+0.1%	7,2 M €	-1.6%	7,3 M €	-0.6%	7,3 M €	+6.5%	6,9 M €	-3.7%	7,1 M €	+0.6%	7,1 M €	+0.5%	7,1 M €	+0.2%	7 M €	+338%	1,6 M €	+28.5%	1,3 M €	+31.7%	950,1 k €	-21.9%	1,2 M €	+842%	129,3 k €	0.0%	129,3 k €	0.0%	129,3 k €
Total assets	7,4 M €	+0.5%	7,4 M €	+1.4%	7,3 M €	-0.4%	7,3 M €	-0.3%	7,4 M €	-5.3%	7,8 M €	-1.4%	7,9 M €	+0.6%	7,8 M €	+8.3%	7,2 M €	-5.0%	7,6 M €	-0.2%	7,6 M €	-2.0%	7,8 M €	+1.4%	7,7 M €	+258%	2,1 M €	+10.8%	1,9 M €	-5.4%	2 M €	+33.0%	1,5 M €	+839%	163,8 k €	+0.6%	162,8 k €	-5.8%	172,8 k €
Cash	3,1 k €	-55.3%	7 k €	+489%	1,2 k €	-89.1%	10,9 k €	+15.1%	9,5 k €	-95.6%	214,5 k €	+2472%	8,3 k €	-98.0%	423,9 k €	+564%	63,9 k €	+457%	11,5 k €	-65.2%	33 k €	+203%	10,9 k €	-74.7%	42,9 k €	+207%	14 k €	+206%	4,6 k €	-96.6%	136,1 k €	+2168%	6 k €	-27.6%	8,3 k €	+13.7%	7,3 k €	0.0%	7,3 k €
Debts	53,7 k €	-28.0%	74,6 k €	-40.2%	124,6 k €	-22.5%	160,8 k €	-11.3%	181,4 k €	-69.0%	584,3 k €	-1.7%	594,4 k €	+19.6%	496,9 k €	+39.2%	357 k €	-25.9%	481,6 k €	-10.3%	536,8 k €	-26.8%	732,9 k €	+15.3%	635,4 k €	+18.4%	536,8 k €	-21.5%	684,1 k €	-21.1%	866,5 k €	+192%	297,1 k €	+2719%	10,5 k €	+10.5%	9,5 k €	-51.2%	19,5 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		0,6 ETP		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 4 ended

Active mandates

MAARTEN VAN LEEUWEN

Director

Active

Ended mandates

Maarten Van Leeuwen

Administrator - manager

Ended

MAARTEN VAN LEEUWEN

Mandate

Ended

MAARTEN VAN LEEUWEN

Manager

Ended

MAARTEN VAN LEEWEN

Mandate

Ended

At this address

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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	Full 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	26/08/2026	29/08/2025	29/08/2024	30/08/2023	29/08/2022	31/08/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	02/06/2023	03/06/2022	04/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	05/06/2026	26/08/2026	Dutch	PDF
Abridged model	31/12/2024	06/06/2025	29/08/2025	Dutch	PDF
Abridged model	31/12/2023	07/06/2024	29/08/2024	Dutch	PDF
Abridged model	31/12/2022	02/06/2023	30/08/2023	Dutch	PDF
Abridged model	31/12/2021	03/06/2022	29/08/2022	Dutch	PDF
Full model	31/12/2020	04/06/2021	31/08/2021	Dutch	PDF
Full model	31/12/2019	04/09/2020	02/10/2020	Dutch	PDF
Full model	31/12/2018	07/06/2019	30/08/2019	Dutch	PDF
Full model	31/12/2017	01/06/2018	31/08/2018	Dutch	PDF
Full model	31/12/2016	30/06/2017	28/07/2017	Dutch	PDF
Abridged model	31/12/2015	29/07/2016	25/08/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	24/07/2015	Dutch	PDF
Abridged model	31/12/2013	28/06/2014	02/07/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	13/08/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	07/02/2013	Dutch	PDF
Abridged model	31/12/2010	30/06/2011	16/01/2012	French	PDF
Abridged model	31/12/2009	30/06/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	30/06/2009	31/08/2009	French	PDF
Abridged model	31/12/2007	30/06/2008	23/08/2008	French	PDF
Abridged model	31/12/2006	30/06/2007	17/01/2008	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 4 ended

Active mandates

MAARTEN VAN LEEUWEN

Director

Active

Ended mandates

Maarten Van Leeuwen

Administrator - manager

Ended

MAARTEN VAN LEEUWEN

Mandate

Ended

MAARTEN VAN LEEUWEN

Manager

Ended

MAARTEN VAN LEEWEN

Mandate

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office01/04/2020
MAATSCHAPPELIJKE ZETEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Registered office29/06/2015
MAATSCHAPPELIJKE ZETEL
PDF
Registered office15/02/2012
MAATSCHAPPELIJKE ZETEL
PDF
Registered office19/02/2010
SIEGE SOCIAL - OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Other31/07/2003
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 202557,4 k €↓
2024
Annual accounts 2024149,2 k €↑
2023
Annual accounts 20236,3 k €↑
2022
Annual accounts 20221,4 k €↓
2021
Annual accounts 20218,1 k €↑
2020
Annual accounts 2020-115 k €↓
2019
Annual accounts 2019-42 k €↓
2018
Annual accounts 20182,2 M €↑
2017
Annual accounts 2017-141,6 k €↓
2016
Annual accounts 201643,5 k €↑
2015
Annual accounts 201532,7 k €↑
2014
Annual accounts 201410,6 k €↓
2013
Annual accounts 20135,4 M €↑
2012
Annual accounts 2012356,9 k €↑
2011
Annual accounts 2011301,4 k €↑
2010
Annual accounts 201062,4 k €↓
2009
Annual accounts 20091,2 M €↑
2008
Annual accounts 2008
2007
Annual accounts 2007
2006
Annual accounts 2006110,4 k €
31/07/2003
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

ADELFI

Overview

What does ADELFI do?

Trend over 20 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