ACTIVE

LINDER

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Financial year 2025 · closed on 31/12/2025

Net result

55,7 k €

+70.4% YoY

Gross margin

180,1 k €

+35.8% YoY

Equity

174,4 k €

+27.5% YoY

What does LINDER do?

LINDER is a Private limited company incorporated in 2004. Its registered office is in Liège.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0869.717.737

Incorporation

27/10/2004

Legal form

Private limited company

Registered office

Place Georges-Ista 23
4030 Liège · WallonieSee on map

Contributed capital

20 000,00 €

Latest accounts

31/12/2025

Joint committees (2)

30503
330

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	180,1 k €	+35.8%	132,6 k €	+24.5%	106,5 k €	-5.8%	113 k €	+15.7%	97,7 k €	+0.7%	97 k €	+10.9%	87,5 k €	-10.3%	97,5 k €	-26.1%	131,9 k €	+37.4%	96 k €	+162%	36,6 k €	+2.2%	35,8 k €	-0.5%	36 k €	-25.2%	48,2 k €	+11.0%	43,4 k €	+10.8%	39,2 k €	+18.0%	33,2 k €	+9.8%	30,2 k €
EBITDA	87,1 k €	+49.1%	58,4 k €	+52.6%	38,3 k €	-4.4%	40 k €	-26.3%	54,3 k €	+53.0%	35,5 k €	-16.0%	42,2 k €	-15.7%	50,1 k €	-16.8%	60,2 k €	+8.7%	55,4 k €	+60.8%	34,4 k €	+23.6%	27,9 k €	+31.4%	21,2 k €	-41.4%	36,2 k €	+0.3%	36,1 k €	+9.1%	33,1 k €	+16.2%	28,5 k €	+74.5%	16,3 k €
Operating result	77,8 k €	+67.7%	46,4 k €	+102%	22,9 k €	+2.4%	22,4 k €	-49.9%	44,7 k €	+66.7%	26,8 k €	+673%	3,5 k €	-68.6%	11 k €	-24.1%	14,5 k €	-32.8%	21,6 k €	-6.9%	23,2 k €	+58.4%	14,7 k €	+61.7%	9,1 k €	-48.4%	17,6 k €	-27.9%	24,4 k €	+48.4%	16,4 k €	-8.8%	18 k €	+125%	8 k €
Net result	55,7 k €	+70.4%	32,7 k €	+122%	14,7 k €	+1.8%	14,5 k €	-50.7%	29,3 k €	+59.9%	18,3 k €	+1284%	1,3 k €	-77.6%	5,9 k €	-38.7%	9,7 k €	-24.8%	12,9 k €	-53.1%	27,4 k €	+160%	10,5 k €	+129%	4,6 k €	-60.6%	11,7 k €	-47.7%	22,3 k €	+69.7%	13,2 k €	-2.7%	13,5 k €	+159%	5,2 k €
Balance sheet
Equity	174,4 k €	+27.5%	136,7 k €	+22.7%	111,4 k €	+15.2%	96,7 k €	-20.9%	122,1 k €	+31.6%	92,8 k €	+12.0%	82,9 k €	+1.6%	81,6 k €	+7.8%	75,6 k €	+14.6%	66 k €	+24.2%	53,1 k €	+22.9%	43,2 k €	+21.1%	35,7 k €	+6.3%	33,6 k €	-54.6%	73,9 k €	+15.3%	64,1 k €	+19.9%	53,4 k €	+26.0%	42,4 k €
Total assets	276,2 k €	+32.6%	208,3 k €	+25.8%	165,6 k €	-13.0%	190,2 k €	-4.5%	199,2 k €	+12.4%	177,2 k €	-7.5%	191,7 k €	-14.9%	225,3 k €	+4.6%	215,4 k €	+5.2%	204,9 k €	+98.4%	103,2 k €	+42.7%	72,4 k €	-10.8%	81,1 k €	-17.0%	97,7 k €	-15.5%	115,7 k €	+13.2%	102,2 k €	+56.3%	65,4 k €	+3.3%	63,3 k €
Cash	106,7 k €	+67.5%	63,7 k €	+57.2%	40,5 k €	-62.3%	107,5 k €	-8.6%	117,7 k €	+7.8%	109,2 k €	+4.3%	104,7 k €	+10.7%	94,6 k €	+78.2%	53,1 k €	+53.2%	34,6 k €	+20.7%	28,7 k €	+26.2%	22,7 k €	-19.0%	28,1 k €	+3.1%	27,2 k €	-8.0%	29,6 k €	+22.2%	24,2 k €	-2.0%	24,7 k €	+84.9%	13,4 k €
Debts	101,8 k €	+42.8%	71,3 k €	+33.6%	53,4 k €	-41.7%	91,6 k €	+21.9%	75,1 k €	-11.0%	84,4 k €	-22.4%	108,8 k €	-24.3%	143,8 k €	+3.1%	139,4 k €	+0.7%	138,5 k €	+176%	50,1 k €	+71.9%	29,1 k €	-34.7%	44,6 k €	-29.7%	63,5 k €	+52.0%	41,8 k €	+9.8%	38 k €	+224%	11,7 k €	-41.0%	19,9 k €
Other
Workforce	–		–		–		–		–		–		–		–		1,0 ETP	+25.0%	0,8 ETP		–		1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	-16.7%	1,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 5 ended

Active mandates

Cédric LINDER

Director

Active

Ended mandates

Cédric Linder

Manager · since 02 février 2013

Ended

CEDRIC LINDER

Manager · since 01 octobre 2007 · until 02 février 2013

Ended

Cédric LINDER

Manager · since 01 octobre 2007 · until 01 octobre 2013

Ended

Marc LINDER

Manager · since 01 octobre 2004

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	15 months	12 months	12 months
Filing date	19/08/2026	11/08/2025	13/08/2024	31/07/2023	21/03/2022	29/04/2021
General meeting	15/06/2026	16/06/2025	17/06/2024	19/06/2023	05/02/2022	06/02/2021
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
Micro model	31/12/2025	15/06/2026	19/08/2026	French	PDF
Micro model	31/12/2024	16/06/2025	11/08/2025	French	PDF
Micro model	31/12/2023	17/06/2024	13/08/2024	French	PDF
Micro model	31/12/2022	19/06/2023	31/07/2023	French	PDF
Micro model	30/09/2021	05/02/2022	21/03/2022	French	PDF
Micro model	30/09/2020	06/02/2021	29/04/2021	French	PDF
Micro model	30/09/2018	02/02/2019	29/04/2019	French	PDF
Micro model	30/09/2017	03/02/2018	29/04/2019	French	PDF
Abridged model	30/09/2016	15/03/2017	19/05/2017	French	PDF
Abridged model	30/09/2015	06/02/2016	09/02/2016	French	PDF
Abridged model	30/09/2014	20/12/2014	22/01/2015	French	PDF
Abridged model	30/09/2013	01/02/2014	24/04/2014	French	PDF
Abridged model	30/09/2012	02/02/2013	11/02/2013	French	PDF
Abridged model	30/09/2011	17/11/2011	23/11/2011	French	PDF
Abridged model	30/09/2010	05/02/2011	08/03/2011	French	PDF
Abridged model	30/09/2009	06/02/2010	10/03/2010	French	PDF
Abridged model	30/09/2008	07/02/2009	27/03/2009	French	PDF
Abridged model	30/09/2007	02/02/2008	12/02/2008	French	PDF
Abridged model	30/09/2006	03/02/2007	12/02/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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 · 5 ended

Active mandates

Cédric LINDER

Director

Active

Ended mandates

Cédric Linder

Manager · since 02 février 2013

Ended

CEDRIC LINDER

Manager · since 01 octobre 2007 · until 02 février 2013

Ended

Cédric LINDER

Manager · since 01 octobre 2007 · until 01 octobre 2013

Ended

Marc LINDER

Manager · since 01 octobre 2004

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/12/2021
MODIFICATION FORME JURIDIQUE - DENOMINATION - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Mandates21/06/2013
DEMISSIONS, NOMINATIONS
PDF
Mandates20/03/2008
DEMISSIONS, NOMINATIONS
PDF
Other08/11/2004
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 202555,7 k €↑
2024
Annual accounts 202432,7 k €↑
2023
Annual accounts 202314,7 k €↑
2022
Annual accounts 202214,5 k €↓
2021
Annual accounts 202129,3 k €↑
2020
Annual accounts 202018,3 k €↑
2018
Annual accounts 20181,3 k €↓
2017
Annual accounts 20175,9 k €↓
2016
Annual accounts 20169,7 k €↓
2015
Annual accounts 201512,9 k €↓
2014
Annual accounts 201427,4 k €↑
2013
Annual accounts 201310,5 k €↑
2012
Annual accounts 20124,6 k €↓
2011
Annual accounts 201111,7 k €↓
2010
Annual accounts 201022,3 k €↑
2009
Annual accounts 200913,2 k €↓
2008
Annual accounts 200813,5 k €↑
2007
Annual accounts 20075,2 k €
27/10/2004
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

LINDER

Overview

What does LINDER do?

Trend over 18 financial years

Indicative valuation

Board of directors

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