ACTIVE

WINDOWMAKERS

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Financial year 2025 · closed on 31/12/2025

Net result

-101,1 k €

-167.4% YoY

Revenue

16,4 M €

+0.7% YoY

Equity

3,2 M €

-3.1% YoY

Workforce

58,1 ETP

+3.2% YoY

What does WINDOWMAKERS do?

WINDOWMAKERS is a Public limited company incorporated in 2004. Its main activity is: Manufacture of metal structures and parts of structures. Its registered office is in Ravels. It employs on average 58,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0867.699.147

Incorporation

08/10/2004

Legal form

Public limited company

Registered office

Nijverheidsstraat 18A
2381 Ravels · FlandreSee on map

Contributed capital

1 446 000,00 €

Latest accounts

31/12/2025

Average workforce

58,1 ETP

Activities (NACE)

25110Manufacture of metal structures and parts of structures· main 25110Manufacture of metal structures and parts of structures 25120Manufacture of doors and windows of metal 25120Manufacture of doors and windows of metal 28110Manufacture of engines and turbines, except aircraft, vehicle and cycle engines 23120Shaping and processing of flat glass+5

Joint committees (2)

Signals

Solid 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 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
Revenue	16,4 M €	+0.7%	16,3 M €	-1.6%	16,6 M €		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		7,9 M €	+6.0%	7,4 M €
EBITDA	284,8 k €	-34.9%	437,3 k €	-60.5%	1,1 M €	+144%	452,6 k €	-19.1%	559,7 k €	+50.6%	371,7 k €	+110%	177,1 k €	+424%	-54,7 k €	-126%	212,3 k €	+31.7%	161,2 k €	+49.8%	107,6 k €	-63.6%	295,6 k €	-30.0%	422,2 k €	+26.3%	334,4 k €	-4.7%	350,7 k €	+578%	-73,4 k €	-129%	252,2 k €	-30.7%	364,2 k €	+12.0%	325,2 k €	+62.4%	200,3 k €
Operating result	-53,7 k €	-164%	83,6 k €	-87.7%	681,9 k €	+280%	179,4 k €	-45.7%	330,6 k €	+95.2%	169,3 k €	+6367%	2,6 k €	+101%	-217,0 k €	-1471%	15,8 k €	-41.2%	26,9 k €	+11.1%	24,2 k €	-77.5%	107,7 k €	-54.3%	235,7 k €	+119%	107,8 k €	-31.0%	156,1 k €	+174%	-211,6 k €	-304%	103,9 k €	-43.5%	183,8 k €	+19.3%	154,0 k €	+72.9%	89,1 k €
Net result	-101,1 k €	-167%	150,1 k €	-74.7%	594,2 k €	+164%	224,9 k €	-26.7%	306,9 k €	+27.0%	241,6 k €	+211%	77,8 k €	+148%	-160,6 k €	-369%	59,8 k €	+381%	12,4 k €	+67.5%	7,4 k €	-74.1%	28,7 k €	-74.7%	113,1 k €	+442%	20,9 k €	-84.3%	132,7 k €	+153%	-250,8 k €	-673%	43,8 k €	-51.6%	90,4 k €	+39.9%	64,7 k €	+255%	18,2 k €
Balance sheet
Equity	3,2 M €	-3.1%	3,3 M €	+4.8%	3,1 M €	+82.3%	1,7 M €	+15.0%	1,5 M €	+25.8%	1,2 M €	+25.4%	949,4 k €	+8.9%	871,6 k €	-15.6%	1,0 M €	+6.1%	972,4 k €	+1.3%	959,9 k €	+0.8%	952,5 k €	+3.1%	923,8 k €	+13.9%	810,8 k €	+2.6%	789,9 k €	+121%	357,2 k €	-41.2%	608,0 k €	+7.8%	564,3 k €	+19.1%	473,8 k €	+15.8%	409,2 k €
Total assets	6,9 M €	+18.8%	5,8 M €	-2.8%	5,9 M €	+3.7%	5,7 M €	+12.7%	5,1 M €	+37.8%	3,7 M €	+25.4%	2,9 M €	-6.8%	3,2 M €	+20.1%	2,6 M €	-18.2%	3,2 M €	-0.6%	3,2 M €	-8.1%	3,5 M €	+14.1%	3,1 M €	-3.9%	3,2 M €	-28.2%	4,5 M €	+33.8%	3,3 M €	+31.0%	2,6 M €	-19.7%	3,2 M €	+27.5%	2,5 M €	-0.7%	2,5 M €
Cash	33,8 k €	-89.5%	323,3 k €	-73.9%	1,2 M €	+3822%	31,6 k €		–		–		87,2 k €	+37.0%	63,6 k €		–		180,4 k €	+79.8%	100,3 k €	-57.0%	233,4 k €		–		46,4 k €	-76.6%	198,2 k €	+11.0%	178,6 k €		–		–		–		2,5 k €
Debts	3,7 M €	+50.5%	2,4 M €	-10.8%	2,7 M €	-30.8%	4,0 M €	+13.2%	3,5 M €	+42.7%	2,4 M €	+22.9%	2,0 M €	-12.7%	2,3 M €	+42.9%	1,6 M €	-28.8%	2,2 M €	-1.0%	2,3 M €	-10.1%	2,5 M €	+18.3%	2,1 M €	-10.8%	2,4 M €	-35.2%	3,7 M €	+23.4%	3,0 M €	+53.6%	1,9 M €	-25.6%	2,6 M €	+29.6%	2,0 M €	-3.4%	2,1 M €
Other
Workforce	58,1 ETP	+3.2%	56,3 ETP	+20.6%	46,7 ETP	+9.1%	42,8 ETP	+4.6%	40,9 ETP	+7.3%	38,1 ETP	-6.6%	40,8 ETP	+2.3%	39,9 ETP	+8.4%	36,8 ETP	+21.1%	30,4 ETP	+0.7%	30,2 ETP	+1.0%	29,9 ETP	-4.5%	31,3 ETP	-2.8%	32,2 ETP	+1.3%	31,8 ETP	-10.9%	35,7 ETP	-4.5%	37,4 ETP	+2.2%	36,6 ETP	+10.2%	33,2 ETP	-0.3%	33,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 22 ended

Active mandates

GEVELGOED KOZIJNEN B.V.

Director · since 31 mai 2023 · until 31 mai 2029

Represented by Daan van der Heijden

Active

LISIC B.V.

Managing director · since 31 mai 2023 · until 31 mai 2029

Represented by Marcus Antonius de Fraiture

Active

Ended mandates

GEVELGOED KOZIJNEN BV

Director · since 31 mai 2023 · until 31 mai 2029

Represented by Daan van der Heijden

Ended

LISIC BV

Managing director · since 31 mai 2023 · until 31 mai 2029

Represented by Marcus Antonius de Fraiture

Ended

GEVELGOED KOZIJNEN B.V.

Director · since 30 juin 2017 · until 31 mai 2023

Represented by Daan van der Heijden

Ended

GEVELGOED KOZIJNEN BV

Director · since 30 juin 2017 · until 31 mai 2023

Represented by Daan van der Heijden

Ended

At this address

Other companies at this address

Company	CBE no.
LISIC HOLDING● Active	0472.827.884
WINVISION2020● Active	0883.237.557

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full 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	04/08/2026	30/07/2025	31/08/2024	30/06/2023	31/08/2022	21/06/2021
General meeting	30/06/2026	30/06/2025	30/08/2024	31/05/2023	16/08/2022	31/05/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full modelCorrection	31/12/2025	30/06/2026	04/08/2026	Dutch	PDF
Full model	31/12/2025	30/06/2026	29/07/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	30/07/2025	Dutch	PDF
Full model	31/12/2023	30/08/2024	31/08/2024	Dutch	PDF
Abridged model	31/12/2022	31/05/2023	30/06/2023	Dutch	PDF
Abridged model	31/12/2021	16/08/2022	31/08/2022	Dutch	PDF
Abridged model	31/12/2020	31/05/2021	21/06/2021	Dutch	PDF
Abridged model	31/12/2019	02/06/2020	02/07/2020	Dutch	PDF
Abridged model	31/12/2018	26/08/2019	30/08/2019	Dutch	PDF
Abridged model	31/12/2017	31/05/2018	28/06/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	28/07/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	13/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	07/07/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	25/07/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	11/07/2013	Dutch	PDF
Abridged model	31/12/2011	20/04/2012	03/05/2012	Dutch	PDF
Abridged model	31/12/2010	31/05/2011	30/06/2011	Dutch	PDF
Abridged model	31/12/2009	31/05/2010	07/06/2010	Dutch	PDF
Abridged model	31/12/2008	02/06/2009	22/06/2009	Dutch	PDF
Full model	31/12/2007	02/06/2008	03/06/2008	Dutch	PDF
Full model	31/12/2006	31/05/2007	01/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 · 2 active · 22 ended

Active mandates

GEVELGOED KOZIJNEN B.V.

Director · since 31 mai 2023 · until 31 mai 2029

Represented by Daan van der Heijden

Active

LISIC B.V.

Managing director · since 31 mai 2023 · until 31 mai 2029

Represented by Marcus Antonius de Fraiture

Active

Ended mandates

GEVELGOED KOZIJNEN BV

Director · since 31 mai 2023 · until 31 mai 2029

Represented by Daan van der Heijden

Ended

LISIC BV

Managing director · since 31 mai 2023 · until 31 mai 2029

Represented by Marcus Antonius de Fraiture

Ended

GEVELGOED KOZIJNEN B.V.

Director · since 30 juin 2017 · until 31 mai 2023

Represented by Daan van der Heijden

Ended

GEVELGOED KOZIJNEN BV

Director · since 30 juin 2017 · until 31 mai 2023

Represented by Daan van der Heijden

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office14/10/2025
MAATSCHAPPELIJKE ZETEL
PDF
Mandates11/09/2023
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring25/08/2023
BENAMING - KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring21/06/2023
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates08/11/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/03/2012
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares13/10/2011
DOEL - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates30/07/2010
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 2025-101,1 k €↓
2024
Annual accounts 2024150,1 k €↓
2023
Annual accounts 2023594,2 k €↑
2023
Name changeWindowmakers
2022
Annual accounts 2022224,9 k €↓
2021
Annual accounts 2021306,9 k €↑
2021
Name changeWindowmakers Productie
2020
Annual accounts 2020241,6 k €↑
2019
Annual accounts 201977,8 k €↑
2018
Annual accounts 2018-160,6 k €↓
2017
Annual accounts 201759,8 k €↑
2016
Annual accounts 201612,4 k €↑
2015
Annual accounts 20157,4 k €↓
2014
Annual accounts 201428,7 k €↓
2013
Annual accounts 2013113,1 k €↑
2012
Annual accounts 201220,9 k €↓
2011
Annual accounts 2011132,7 k €↑
2010
Annual accounts 2010-250,8 k €↓
2009
Annual accounts 200943,8 k €↓
2008
Annual accounts 200890,4 k €↑
2007
Annual accounts 200764,7 k €↑
2006
Annual accounts 200618,2 k €
08/10/2004
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

WINDOWMAKERS

Overview

What does WINDOWMAKERS 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