ACTIVE

White Box

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Financial year 2025 · closed on 30/09/2025

Net result

16,8 k €

-10.1% YoY

Gross margin

29,8 k €

-8.4% YoY

Equity

230,7 k €

+7.9% YoY

What does White Box do?

White Box is a Private limited company incorporated in 2004. Its main activity is: Activities of head offices; management consultancy activities. Its registered office is in Tielt.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0870.026.454

Incorporation

17/11/2004

Legal form

Private limited company

Registered office

Kapellestraat 104
8760 Tielt · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

30/09/2025

Activities (NACE)

70322Activities of head offices; management consultancy activities· main 81100Combined facilities support activities 81100Combined facilities support activities 68203Rental and operating of own or leased real estate 68203Rental and operating of own or leased real estate

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	29,8 k €	-8.4%	32,5 k €	-3.2%	33,6 k €	+0.6%	33,4 k €	+49.0%	22,4 k €	-30.3%	32,1 k €	+21.8%	26,3 k €	-33.0%	39,3 k €	+110%	18,8 k €	-9.6%	20,8 k €	+45.8%	14,2 k €	-58.9%	34,6 k €	+82.3%	19 k €	+339%	-8 k €	-152%	15,4 k €	-72.2%	55,4 k €	+203%	18,3 k €	-7.2%	19,7 k €
EBITDA	28,8 k €	-8.9%	31,7 k €	-4.9%	33,3 k €	+2.0%	32,6 k €	+53.7%	21,2 k €	-31.1%	30,8 k €	+22.2%	25,3 k €	-33.9%	38,2 k €	+119%	17,5 k €	-11.0%	19,6 k €	+50.2%	13,1 k €	-61.0%	33,5 k €	+86.8%	17,9 k €	+299%	-9 k €	-165%	14 k €	-74.3%	54,4 k €	+214%	17,3 k €	-9.1%	19 k €
Operating result	24,7 k €	-11.8%	28 k €	-5.5%	29,7 k €	+2.2%	29 k €	+179%	10,4 k €	-3.0%	10,7 k €	-36.1%	16,7 k €	-43.7%	29,7 k €	+231%	9 k €	-19.4%	11,1 k €	+112%	5,3 k €	-79.7%	25,9 k €	+151%	10,3 k €	+162%	-16,7 k €	-365%	6,3 k €	-86.5%	46,6 k €	+389%	9,5 k €	-16.8%	11,5 k €
Net result	16,8 k €	-10.1%	18,7 k €	-2.6%	19,2 k €	+1.2%	19 k €	+175%	6,9 k €	+6.2%	6,5 k €	-39.5%	10,8 k €	-45.4%	19,8 k €	+377%	4,1 k €	-45.8%	7,6 k €	+107%	3,7 k €	-83.7%	22,6 k €	+164%	8,6 k €	+146%	-18,8 k €	-635%	3,5 k €	-88.9%	31,5 k €	+571%	4,7 k €	-38.3%	7,6 k €
Balance sheet
Equity	230,7 k €	+7.9%	213,8 k €	+9.6%	195,1 k €	+10.9%	175,8 k €	+27.9%	137,5 k €	+5.3%	130,6 k €	+5.3%	124 k €	+9.5%	113,3 k €	+21.1%	93,5 k €	+4.6%	89,4 k €	+9.4%	81,7 k €	+4.7%	78 k €	+40.9%	55,4 k €	+18.3%	46,8 k €	-28.6%	65,6 k €	+5.6%	62,1 k €	+103%	30,6 k €	+18.1%	25,9 k €
Total assets	236,7 k €	+5.5%	224,3 k €	+6.3%	211,1 k €	+2.4%	206,2 k €	+5.9%	194,7 k €	-10.5%	217,6 k €	+39.3%	156,2 k €	+2.3%	152,7 k €	+19.0%	128,3 k €	-6.5%	137,1 k €	+4.0%	131,8 k €	+2.6%	128,4 k €	+14.8%	111,9 k €	+2.1%	109,6 k €	-20.2%	137,3 k €	-6.2%	146,4 k €	+30.1%	112,5 k €	-1.7%	114,5 k €
Cash	127,1 k €	+13.4%	112,1 k €	+14.2%	98,1 k €	+10.6%	88,7 k €	+32.7%	66,8 k €	-17.9%	81,4 k €	-36.5%	128,2 k €	+24.9%	102,7 k €	+15.5%	88,9 k €	+60.1%	55,5 k €	-14.9%	65,2 k €	+119%	29,8 k €	+113%	14 k €	+57.2%	8,9 k €	-81.6%	48,3 k €	+84.3%	26,2 k €	+178%	9,4 k €	-43.4%	16,6 k €
Debts	6 k €	-40.7%	10,2 k €	-35.6%	15,8 k €	-46.8%	29,7 k €	-48.1%	57,3 k €	-34.2%	87 k €	+170%	32,2 k €	-18.3%	39,4 k €	+13.4%	34,8 k €	-27.2%	47,8 k €	-4.6%	50,1 k €	-0.7%	50,4 k €	-10.8%	56,5 k €	-9.9%	62,8 k €	-12.5%	71,8 k €	-14.4%	83,8 k €	+2.3%	82 k €	-7.5%	88,6 k €

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 30/09/2025 · 1 active · 3 ended

Active mandates

Wim Devolder

Director · since 09 novembre 2004

Active

Ended mandates

Wim Devolder

Manager · since 09 novembre 2004

Ended

Wim Devolder

Director

Ended

WIM DEVOLDER

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
Devolder Thijs● Active	0424.599.385

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	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
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	12 months
Filing date	24/03/2026	04/03/2025	21/03/2024	31/03/2023	10/03/2022	16/03/2021
General meeting	07/03/2026	01/03/2025	02/03/2024	04/03/2023	05/03/2022	06/03/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/09/2025	07/03/2026	24/03/2026	Dutch	PDF
Micro model	30/09/2024	01/03/2025	04/03/2025	Dutch	PDF
Micro model	30/09/2023	02/03/2024	21/03/2024	Dutch	PDF
Micro model	30/09/2022	04/03/2023	31/03/2023	Dutch	PDF
Micro model	30/09/2021	05/03/2022	10/03/2022	Dutch	PDF
Micro model	30/09/2020	06/03/2021	16/03/2021	Dutch	PDF
Micro model	30/09/2019	07/03/2020	16/03/2020	Dutch	PDF
Micro model	30/09/2018	02/03/2019	25/04/2019	Dutch	PDF
Micro model	30/09/2017	03/03/2018	12/04/2018	Dutch	PDF
Abridged model	30/09/2016	04/03/2017	23/03/2017	Dutch	PDF
Abridged model	30/09/2015	05/03/2016	08/03/2016	Dutch	PDF
Abridged model	30/09/2014	07/03/2015	24/03/2015	Dutch	PDF
Abridged model	30/09/2013	01/03/2014	26/03/2014	Dutch	PDF
Abridged model	30/09/2012	02/03/2013	07/03/2013	Dutch	PDF
Abridged model	30/09/2011	03/03/2012	27/03/2012	Dutch	PDF
Abridged model	30/09/2010	05/03/2011	08/03/2011	Dutch	PDF
Abridged model	30/09/2009	06/03/2010	08/03/2010	Dutch	PDF
Abridged model	30/09/2008	07/03/2009	10/03/2009	Dutch	PDF
Abridged model	30/09/2007	01/03/2008	03/03/2008	Dutch	PDF
Abridged model	30/09/2006	03/03/2007	06/03/2007	Dutch	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 30/09/2025 · 1 active · 3 ended

Active mandates

Wim Devolder

Director · since 09 novembre 2004

Active

Ended mandates

Wim Devolder

Manager · since 09 novembre 2004

Ended

Wim Devolder

Director

Ended

WIM DEVOLDER

Manager

Ended

Shareholders

Ownership and network

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Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202516,8 k €↓
2024
Annual accounts 202418,7 k €↓
2023
Annual accounts 202319,2 k €↑
2022
Annual accounts 202219 k €↑
2020
Annual accounts 20206,9 k €↑
2019
Annual accounts 20196,5 k €↓
2018
Annual accounts 201810,8 k €↓
2017
Annual accounts 201719,8 k €↑
2016
Annual accounts 20164,1 k €↓
2015
Annual accounts 20157,6 k €↑
2014
Annual accounts 20143,7 k €↓
2013
Annual accounts 201322,6 k €↑
2012
Annual accounts 20128,6 k €↑
2011
Annual accounts 2011-18,8 k €↓
2010
Annual accounts 20103,5 k €↓
2009
Annual accounts 200931,5 k €↑
2008
Annual accounts 20084,7 k €↓
2007
Annual accounts 20077,6 k €
17/11/2004
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

White Box

Overview

What does White Box do?

Trend over 18 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

Similar companies

Similar companies

Timeline