ACTIVE

INDIANA

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Financial year 2025 · closed on 31/12/2025

Net result

263,9 k €

+637.6% YoY

Gross margin

711,9 k €

+81.7% YoY

Equity

981,2 k €

+36.8% YoY

Workforce

4,0 ETP

+8.1% YoY

What does INDIANA do?

INDIANA is a Non-profit organization incorporated in 2004. Its main activity is: Gambling and betting activities. Its registered office is in Nazareth-De Pinte. It employs on average 4,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0870.995.365

Incorporation

21/12/2004

Legal form

Non-profit organization

Registered office

Hondelestraat 13
9840 Nazareth-De Pinte · FlandreSee on map

Latest accounts

31/12/2025

Average workforce

4,0 ETP

Activities (NACE)

92611Gambling and betting activities· main 93110Operation of sports facilities 93110Operation of sports facilities 93122Activities of sports clubs 93122Activities of sports clubs

Joint committees (1)

32901

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 7 financial years

	2025		2024		2023		2022		2021		2020		2019
Income statement
Gross margin	711,9 k €	+81.7%	391,8 k €	+40.0%	279,7 k €	-5.0%	294,5 k €	-13.9%	342,1 k €	+68.4%	203,1 k €	-32.7%	302 k €
EBITDA	482,4 k €	+197%	162,4 k €	+368%	34,7 k €	-73.7%	132,1 k €	-37.2%	210,2 k €	+96.8%	106,8 k €	-37.2%	170 k €
Operating result	303,1 k €	+452%	54,9 k €	+235%	-40,8 k €	-196%	42,5 k €	-66.1%	125,4 k €	+405%	24,8 k €	-61.7%	64,9 k €
Net result	263,9 k €	+638%	35,8 k €	+174%	-48,1 k €	-210%	43,6 k €	-64.8%	123,7 k €	+465%	21,9 k €	-79.4%	106,2 k €
Balance sheet
Equity	981,2 k €	+36.8%	717,3 k €	+5.2%	681,5 k €	-6.6%	729,6 k €	+5.0%	694,5 k €	+19.9%	579,4 k €	+2.4%	566 k €
Total assets	2,9 M €	+70.5%	1,7 M €	+75.7%	952,7 k €	-2.8%	980,1 k €	-2.1%	1 M €	+6.6%	939 k €	+7.0%	877,7 k €
Cash	616,6 k €	+34.5%	458,5 k €	+3.6%	442,6 k €	+3.0%	429,9 k €	-5.3%	453,9 k €	+27.4%	356,2 k €	+70.8%	208,6 k €
Debts	1,6 M €	+128%	681,4 k €	+1107%	56,5 k €	+6.9%	52,8 k €	-56.0%	120,2 k €	-29.2%	169,8 k €	-44.0%	303,4 k €
Other
Workforce	4,0 ETP	+8.1%	3,7 ETP	+5.7%	3,5 ETP	+75.0%	2,0 ETP	+5.3%	1,9 ETP	+35.7%	1,4 ETP	-33.3%	2,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 8 active · 7 ended

Active mandates

Jan Van Houtte

Director · since 17 juin 2025

Active

Raf De Gendt

Director · since 17 juin 2025

Active

Maarten Van Hoecke

Chairman of the board of directors · since 01 janvier 2025

Active

Elisabeth Muylle

Director · since 18 juin 2024

Active

Michel Vanfleteren

Director · since 18 juin 2024

Active

Pauline van Doosselaere

Director · since 18 juin 2024

Active

Evrard Vervaecke

Director · since 09 juin 2022

Active

Matthias Gesquière

Director · since 09 juin 2022

Active

Ended mandates

Laurent Claesens

Director · since 01 janvier 2025

Ended

Maarten Van Hoecke

Penningmeester · since 08 juin 2023 · until 01 janvier 2025

Ended

Laurent Claesens

Chairman of the board of directors · since 04 mars 2020 · until 01 janvier 2025

Ended

Laurent Claesens

Chairman of the board of directors · since 04 mars 2020

Ended

At this address

Other companies at this address

Company	CBE no.
INDIANA FLYFISHING● Active	0567.872.048
Indiana Heritage● Active	1042.759.304
NEXT STEP EVENTS● Active	0831.467.568

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged 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	22/07/2026	26/06/2025	01/07/2024	13/06/2023	17/06/2022	07/07/2021
General meeting	30/06/2026	17/06/2025	18/06/2024	08/06/2023	09/06/2022	24/06/2021
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

7 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	22/07/2026	Dutch	PDF
Abridged model	31/12/2024	17/06/2025	26/06/2025	Dutch	PDF
Abridged model	31/12/2023	18/06/2024	01/07/2024	Dutch	PDF
Abridged model	31/12/2022	08/06/2023	13/06/2023	Dutch	PDF
Abridged model	31/12/2021	09/06/2022	17/06/2022	Dutch	PDF
Abridged model	31/12/2020	24/06/2021	07/07/2021	Dutch	PDF
Abridged model	31/12/2019	29/06/2020	10/07/2020	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 8 active · 7 ended

Active mandates

Jan Van Houtte

Director · since 17 juin 2025

Active

Raf De Gendt

Director · since 17 juin 2025

Active

Maarten Van Hoecke

Chairman of the board of directors · since 01 janvier 2025

Active

Elisabeth Muylle

Director · since 18 juin 2024

Active

Michel Vanfleteren

Director · since 18 juin 2024

Active

Pauline van Doosselaere

Director · since 18 juin 2024

Active

Evrard Vervaecke

Director · since 09 juin 2022

Active

Matthias Gesquière

Director · since 09 juin 2022

Active

Ended mandates

Laurent Claesens

Director · since 01 janvier 2025

Ended

Maarten Van Hoecke

Penningmeester · since 08 juin 2023 · until 01 janvier 2025

Ended

Laurent Claesens

Chairman of the board of directors · since 04 mars 2020 · until 01 janvier 2025

Ended

Laurent Claesens

Chairman of the board of directors · since 04 mars 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates12/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other31/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates27/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/09/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/04/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/10/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/05/2018
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 2025263,9 k €↑
2024
Annual accounts 202435,8 k €↑
2023
Annual accounts 2023-48,1 k €↓
2022
Annual accounts 202243,6 k €↓
2021
Annual accounts 2021123,7 k €↑
2020
Annual accounts 202021,9 k €↓
2019
Annual accounts 2019106,2 k €
21/12/2004
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

INDIANA

Overview

What does INDIANA do?

Trend over 7 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