ACTIVE

Karus

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Financial year 2025 · closed on 31/12/2025

Net result

1,8 M €

+25.5% YoY

Revenue

70,1 M €

+4.9% YoY

Equity

92,8 M €

+1.2% YoY

Workforce

639,3 ETP

-0.0% YoY

What does Karus do?

Karus is a Non-profit organization incorporated in 2003. Its main activity is: Pre-primary education. Its registered office is in Merelbeke-Melle. It employs on average 639,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0861.314.369

Incorporation

27/10/2003

Legal form

Non-profit organization

Registered office

Caritasstraat 76
9090 Merelbeke-Melle · FlandreSee on map

Latest accounts

31/12/2025

Average workforce

639,3 ETP

Activities (NACE)

85110Pre-primary education· main 86104Hospital activities 86104Hospital activities 47789Other retail sale of new goods in specialised stores 47789Other retail sale of new goods in specialised stores

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh 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		2020		2019		2018		2017		2016		2015
Income statement
Revenue	70,1 M €	+4.9%	66,8 M €	+13.2%	59 M €	+7.9%	54,7 M €	+12.0%	48,8 M €	+5.3%	46,4 M €	+3.3%	44,9 M €	-0.0%	44,9 M €	+59.0%	28,3 M €	+2.5%	27,6 M €	-3.5%	28,6 M €
EBITDA	4,7 M €	+7.6%	4,4 M €	-5.6%	4,7 M €	-12.8%	5,3 M €	-2.2%	5,5 M €	+0.2%	5,5 M €	+14.3%	4,8 M €	-3.9%	5 M €	+60.2%	3,1 M €	-14.4%	3,6 M €	-13.4%	4,2 M €
Operating result	575,1 k €	+232%	173,4 k €	-52.5%	365,2 k €	-57.7%	862,9 k €	-20.1%	1,1 M €	+0.6%	1,1 M €	+220%	335,5 k €	-15.5%	397 k €	+67.1%	237,6 k €	-70.9%	815,9 k €	-45.7%	1,5 M €
Net result	1,8 M €	+25.5%	1,4 M €	-55.5%	3,1 M €	+275%	-1,8 M €	-148%	3,8 M €	+150%	1,5 M €	-36.3%	2,4 M €	+224%	731,3 k €	-52.4%	1,5 M €	+149%	617,7 k €	-83.6%	3,8 M €
Balance sheet
Equity	92,8 M €	+1.2%	91,7 M €	+1.6%	90,3 M €	+3.0%	87,7 M €	-2.7%	90,1 M €	+5.6%	85,4 M €	+1.0%	84,5 M €	+2.1%	82,8 M €	+23.7%	66,9 M €	+1.7%	65,8 M €	+0.3%	65,6 M €
Total assets	147,1 M €	-0.5%	147,9 M €	+12.6%	131,3 M €	+1.8%	129 M €	-1.7%	131,3 M €	+5.1%	124,9 M €	+1.0%	123,6 M €	+0.1%	123,4 M €	+30.7%	94,4 M €	+1.5%	93 M €	+6.1%	87,7 M €
Cash	4,3 M €	-33.5%	6,5 M €	-13.3%	7,5 M €	-14.6%	8,7 M €	-4.3%	9,1 M €	+290%	2,3 M €	-35.8%	3,7 M €	+85.7%	2 M €	+214%	626,7 k €	+53.5%	408,4 k €	-90.6%	4,3 M €
Debts	53,1 M €	-2.9%	54,7 M €	+35.6%	40,3 M €	+2.6%	39,3 M €	+0.8%	39 M €	+2.0%	38,2 M €	-0.7%	38,5 M €	-3.6%	40 M €	+49.3%	26,8 M €	+2.3%	26,2 M €	+25.4%	20,9 M €
Other
Workforce	639,3 ETP	-0.0%	639,6 ETP	-0.5%	642,5 ETP	+0.7%	638,1 ETP	-0.0%	638,3 ETP	+4.4%	611,5 ETP	+1.3%	603,9 ETP	-2.6%	619,8 ETP	+46.2%	423,8 ETP	+1.5%	417,4 ETP	+2.4%	407,8 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 31/12/2025 · 9 active · 49 ended

Active mandates

Hendrik Van Gansbeke

Director · since 01 janvier 2026 · until 31 décembre 2031

Active

Stefaan Gielens

Director · since 01 janvier 2026 · until 31 décembre 2031

Active

Ellen Veeckman

Director · since 19 décembre 2024 · until 31 décembre 2029

Active

Harlinde Exelmans

Director · since 19 décembre 2024 · until 31 décembre 2029

Active

Bert Vanderhaegen

Director · since 01 janvier 2024 · until 31 décembre 2029

Active

Hans Van Rijckeghem

Chairman of the board of directors · since 01 janvier 2024 · until 31 décembre 2029

Active

Hans Van Rijckeghem

Director · since 01 janvier 2024 · until 31 décembre 2029

Active

Jan Vande Moortel

Director · since 01 janvier 2024 · until 31 décembre 2029

Active

Nathalie De Wever

Director · since 01 janvier 2024 · until 31 décembre 2029

Active

Ended mandates

Bert Vanderhaegen

Director · since 01 janvier 2024 · until 01 janvier 2030

Ended

Christiaan Decoster

Vice-chairman of the board of directors · since 01 janvier 2024 · until 31 décembre 2029

Ended

Christiaan Decoster

Vice-chairman of the board of directors · since 01 janvier 2024 · until 01 janvier 2030

Ended

Christiaan Decoster

Director · since 01 janvier 2024 · until 31 décembre 2029

Ended

At this address

Other companies at this address

Company	CBE no.
Karus Patrimonium● Active	0506.807.182

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	01/01/2025	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	23/06/2026	23/06/2025	26/06/2024	20/06/2023	22/06/2022	12/07/2021
General meeting	18/06/2026	19/06/2025	20/06/2024	15/06/2023	16/06/2022	16/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	18/06/2026	23/06/2026	Dutch	PDF
Full model	31/12/2024	19/06/2025	23/06/2025	Dutch	PDF
Full model	31/12/2023	20/06/2024	26/06/2024	Dutch	PDF
Full model	31/12/2022	15/06/2023	20/06/2023	Dutch	PDF
Full model	31/12/2021	16/06/2022	22/06/2022	Dutch	PDF
Full model	31/12/2020	16/06/2021	12/07/2021	Dutch	PDF
Full model	31/12/2019	08/07/2020	13/07/2020	Dutch	PDF
Full model	31/12/2018	12/06/2019	17/06/2019	Dutch	PDF
Full model	31/12/2017	13/06/2018	14/06/2018	Dutch	PDF
Full model	31/12/2016	14/06/2017	19/06/2017	Dutch	PDF
Full model	31/12/2015	08/06/2016	09/06/2016	Dutch	PDF
m140-f-p	31/12/2014	10/06/2015	16/06/2015	Dutch	PDF
m140-f-p	31/12/2013	11/06/2014	16/06/2014	Dutch	PDF
m140-f-p	31/12/2012	12/06/2013	18/06/2013	Dutch	PDF
m140-f-p	31/12/2011	13/06/2012	20/06/2012	Dutch	PDF
m140-f-p	31/12/2010	08/06/2011	23/06/2011	Dutch	PDF
m140-f-p	31/12/2009	23/06/2010	06/07/2010	Dutch	PDF
m140-f-p	31/12/2008	24/06/2009	25/06/2009	Dutch	PDF
m140-f-p	31/12/2007	18/06/2008	24/06/2008	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 31/12/2025 · 9 active · 49 ended

Active mandates

Hendrik Van Gansbeke

Director · since 01 janvier 2026 · until 31 décembre 2031

Active

Stefaan Gielens

Director · since 01 janvier 2026 · until 31 décembre 2031

Active

Ellen Veeckman

Director · since 19 décembre 2024 · until 31 décembre 2029

Active

Harlinde Exelmans

Director · since 19 décembre 2024 · until 31 décembre 2029

Active

Bert Vanderhaegen

Director · since 01 janvier 2024 · until 31 décembre 2029

Active

Hans Van Rijckeghem

Chairman of the board of directors · since 01 janvier 2024 · until 31 décembre 2029

Active

Hans Van Rijckeghem

Director · since 01 janvier 2024 · until 31 décembre 2029

Active

Jan Vande Moortel

Director · since 01 janvier 2024 · until 31 décembre 2029

Active

Nathalie De Wever

Director · since 01 janvier 2024 · until 31 décembre 2029

Active

Ended mandates

Bert Vanderhaegen

Director · since 01 janvier 2024 · until 01 janvier 2030

Ended

Christiaan Decoster

Vice-chairman of the board of directors · since 01 janvier 2024 · until 31 décembre 2029

Ended

Christiaan Decoster

Vice-chairman of the board of directors · since 01 janvier 2024 · until 01 janvier 2030

Ended

Christiaan Decoster

Director · since 01 janvier 2024 · until 31 décembre 2029

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates20/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/02/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/08/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/04/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/08/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/12/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/08/2022
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

01/01/2026
nominationHendrik Van Gansbeke — bestuurder
01/01/2026
nominationStefaan Gielens — bestuurder
2025
Annual accounts 20251,8 M €↑
2024
Annual accounts 20241,4 M €↓
19/12/2024
nominationVeeckman Ellen — bestuurder
19/12/2024
nominationExelmans Harlinde — bestuurder
01/07/2024
nominationDecoster Christiaan — bestuurder
01/07/2024
nominationDe Wever Nathalie — bestuurder
01/07/2024
nominationDobbelaere Paul — bestuurder
01/07/2024
nominationVande Moortel Jan — bestuurder
01/07/2024
nominationVanderhaegen Bert — bestuurder
01/07/2024
nominationVan Rijckeghem Hans — bestuurder
01/01/2024
reconductionBuyck Mireille — bestuurder
01/01/2024
reconductionDecoster Christiaan — bestuurder / ondervoorzitter
01/01/2024
reconductionDe Wever Nathalie — bestuurder
01/01/2024
reconductionDobbelaere Paul — bestuurder
01/01/2024
reconductionVande Moortel Jan — bestuurder
01/01/2024
reconductionVanderhaegen Bart — bestuurder
01/01/2024
reconductionVan Rijckeghem Hans — bestuurder / voorzitter
2023
Annual accounts 20233,1 M €↑
15/06/2023
reconductionFrancis Rysman — commissaris
2022
Annual accounts 2022-1,8 M €↓
01/10/2022
nominationCOLMAN Katlyn — dagelijks bestuurder
01/07/2022
nominationBuyck Mireille — bestuurder
01/07/2022
nominationColle Theresia — bestuurder
01/07/2022
nominationDecoster Christiaan — bestuurder
01/07/2022
nominationDe Wever Nathalie — bestuurder
01/07/2022
nominationDobbelaere Paul — bestuurder
01/07/2022
nominationEeckloo Kristof — bestuurder
01/07/2022
nominationVan Bockstaele Erik — bestuurder
01/07/2022
nominationVande Moortel Jan — bestuurder
01/07/2022
nominationVandewoude Koen — bestuurder
01/07/2022
nominationVanderhaegen Bart — bestuurder
01/07/2022
nominationVan Rijckeghem Hans — bestuurder
2021
Annual accounts 20213,8 M €↑
2020
Annual accounts 20201,5 M €↓
2019
Annual accounts 20192,4 M €↑
2018
Annual accounts 2018731,3 k €↓
2017
Annual accounts 20171,5 M €↑
2017
Name changeKarus
2016
Annual accounts 2016617,7 k €↓
2015
Annual accounts 20153,8 M €
2015
Name changePsychiatrisch Centrum Caritas
27/10/2003
IncorporationNon-profit organization

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

Karus

Overview

What does Karus 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