ACTIVE

CADUS

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Financial year 2025 · closed on 31/12/2025

Net result

-161,4 k €

+12.3% YoY

Revenue

1,1 M €

-9.5% YoY

Equity

4,5 M €

-3.5% YoY

Workforce

2,5 ETP

-3.8% YoY

What does CADUS do?

CADUS is a Public limited company incorporated in 2005. Its registered office is in Sint-Martens-Latem. It employs on average 2,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0874.968.902

Incorporation

08/07/2005

Legal form

Public limited company

Registered office

Latemstraat 167
9830 Sint-Martens-Latem · FlandreSee on map

Contributed capital

523 474,21 €

Latest accounts

31/12/2025

Average workforce

2,5 ETP

Joint committees (3)

Signals

Solid equityPositive cashflowPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2013		2012		2011		2010		2008		2007		2006
Income statement
Revenue	1,1 M €	-9.5%	1,2 M €	-9.5%	1,4 M €	+3.8%	1,3 M €	+26.9%	1 M €		–		–		–		–		593,5 k €	+39.9%	424,1 k €	-47.2%	803,5 k €	-11.9%	912,5 k €	+48.3%	615,3 k €		–		–		–
EBITDA	170,6 k €	-1.3%	172,8 k €	-42.2%	299,1 k €	+0.6%	297,4 k €	+3.8%	286,6 k €	+76.8%	162,1 k €	+57.0%	103,2 k €	+110%	49,2 k €	-67.3%	150,6 k €	+501%	25,1 k €	-60.6%	63,6 k €	-81.3%	339,8 k €	-20.9%	429,4 k €	+123%	192,7 k €	-18.4%	236 k €	+193%	80,6 k €	+28.5%	62,8 k €
Operating result	-64,7 k €	-8.9%	-59,4 k €	+8.4%	-64,9 k €	-238%	46,9 k €	+96.1%	23,9 k €	-77.3%	105,6 k €	+224%	32,6 k €	+213%	-29 k €	-149%	58,8 k €	+229%	-45,6 k €	-45.3%	-31,4 k €	-111%	276,1 k €	-23.1%	359,1 k €	+143%	147,7 k €	-35.7%	229,9 k €	+211%	74 k €	+40.0%	52,9 k €
Net result	-161,4 k €	+12.3%	-184 k €	-153%	345,1 k €	+513%	-83,5 k €	-356%	32,6 k €	+55.5%	21 k €	-66.6%	62,8 k €	+504%	-15,6 k €	-107%	222,2 k €	-66.2%	657,3 k €	+673%	-114,7 k €	-167%	170 k €	-27.2%	233,4 k €	+653%	31 k €	-86.2%	223,8 k €	-54.9%	495,7 k €	+1737%	27 k €
Balance sheet
Equity	4,5 M €	-3.5%	4,7 M €	-3.8%	4,9 M €	+7.7%	4,5 M €	-1.8%	4,6 M €	+89.1%	2,4 M €	+0.9%	2,4 M €	+2.7%	2,3 M €	-0.7%	2,4 M €	+38.9%	1,7 M €	+80.6%	940,2 k €	-10.9%	1,1 M €	+7.1%	984,9 k €	+15.7%	851,4 k €	+5.3%	808,5 k €	+38.3%	584,7 k €	+557%	89 k €
Total assets	11,5 M €	+1.1%	11,3 M €	+0.9%	11,2 M €	+2.5%	11 M €	-0.8%	11,1 M €	+35.9%	8,1 M €	+82.8%	4,5 M €	+0.8%	4,4 M €	-2.4%	4,5 M €	+13.1%	4 M €	+74.1%	2,3 M €	-11.9%	2,6 M €	+6.2%	2,5 M €	+0.5%	2,4 M €	+61.8%	1,5 M €	-36.8%	2,4 M €	+1136%	193,3 k €
Cash	234,9 €		0 €	-100%	4,8 k €	+107%	2,3 k €	-78.0%	10,6 k €	-52.7%	22,3 k €	+368%	4,8 k €	-69.6%	15,6 k €	+4.8%	14,9 k €	-4.8%	15,7 k €	+6.6%	14,7 k €	+137%	6,2 k €	-81.7%	33,9 k €	+628%	4,7 k €	-47.5%	8,9 k €	+6.0%	8,4 k €	+2691%	300,2 €
Debts	6,9 M €	+4.2%	6,7 M €	+4.5%	6,4 M €	-1.2%	6,5 M €	-0.1%	6,5 M €	+13.2%	5,7 M €	+179%	2 M €	-1.3%	2,1 M €	-4.3%	2,2 M €	-6.0%	2,3 M €	+87.0%	1,2 M €	-13.7%	1,4 M €	+6.1%	1,3 M €	-4.9%	1,4 M €	+102%	702,1 k €	-61.1%	1,8 M €	+1641%	103,6 k €
Other
Workforce	2,5 ETP	-3.8%	2,6 ETP	-7.1%	2,8 ETP	-6.7%	3,0 ETP	+7.1%	2,8 ETP	-17.6%	3,4 ETP	+25.9%	2,7 ETP	+35.0%	2,0 ETP	-4.8%	2,1 ETP	-16.0%	2,5 ETP	+108%	1,2 ETP	0.0%	1,2 ETP	0.0%	1,2 ETP	-42.9%	2,1 ETP	+75.0%	1,2 ETP	+300%	0,3 ETP		–

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 25 ended

Active mandates

Danielle Dusselier

Director · since 09 mai 2022 · until 06 mai 2028

Active

Johan Castelein

Managing director · since 09 mai 2022 · until 06 mai 2028

Active

Ended mandates

Danielle Dusselier

Managing director · since 09 mai 2022 · until 08 mai 2028

Ended

Danielle Dusselier

Managing director · since 09 mai 2022

Ended

Johan Castelein

Chairman of the board of directors · since 09 mai 2022 · until 08 mai 2028

Ended

Johan Castelein

Director · since 09 mai 2022 · until 06 mai 2028

Ended

At this address

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Picast● Active	0737.459.722

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	31/08/2026	28/08/2025	20/06/2024	26/05/2023	09/06/2022	03/06/2021
General meeting	02/05/2026	05/05/2025	06/05/2024	08/05/2023	09/05/2022	03/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	02/05/2026	31/08/2026	Dutch	PDF
Full model	31/12/2024	05/05/2025	28/08/2025	Dutch	PDF
Full model	31/12/2023	06/05/2024	20/06/2024	Dutch	PDF
Full model	31/12/2022	08/05/2023	26/05/2023	Dutch	PDF
Full model	31/12/2021	09/05/2022	09/06/2022	Dutch	PDF
Full model	31/12/2020	03/05/2021	03/06/2021	Dutch	PDF
Abridged model	31/12/2019	02/05/2020	24/06/2020	Dutch	PDF
Abridged model	31/12/2018	04/05/2019	31/07/2019	Dutch	PDF
Abridged model	31/12/2017	05/05/2018	04/07/2018	Dutch	PDF
Abridged model	31/12/2016	06/05/2017	07/07/2017	Dutch	PDF
Full model	31/12/2015	07/05/2016	15/07/2016	Dutch	PDF
Full model	31/12/2014	02/05/2015	08/07/2015	Dutch	PDF
Full model	31/12/2013	03/05/2014	30/07/2014	Dutch	PDF
Full model	31/12/2012	04/05/2013	30/07/2013	Dutch	PDF
Full model	31/12/2011	05/05/2012	11/07/2012	Dutch	PDF
Full model	31/12/2010	07/05/2011	07/06/2011	Dutch	PDF
Abridged model	31/12/2009	03/05/2010	05/07/2010	Dutch	PDF
Abridged model	31/12/2008	02/05/2009	26/05/2009	Dutch	PDF
Abridged model	31/12/2007	03/05/2008	05/09/2008	Dutch	PDF
Abridged model	31/12/2006	05/05/2007	31/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 · 25 ended

Active mandates

Danielle Dusselier

Director · since 09 mai 2022 · until 06 mai 2028

Active

Johan Castelein

Managing director · since 09 mai 2022 · until 06 mai 2028

Active

Ended mandates

Danielle Dusselier

Managing director · since 09 mai 2022 · until 08 mai 2028

Ended

Danielle Dusselier

Managing director · since 09 mai 2022

Ended

Johan Castelein

Chairman of the board of directors · since 09 mai 2022 · until 08 mai 2028

Ended

Johan Castelein

Director · since 09 mai 2022 · until 06 mai 2028

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates18/12/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/06/2022
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares22/01/2021
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Restructuring17/11/2020
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
PDF
Restructuring08/04/2020
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates26/06/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/05/2017
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares09/12/2016
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 2025-161,4 k €↑
2024
Annual accounts 2024-184 k €↓
2023
Annual accounts 2023345,1 k €↑
2022
Annual accounts 2022-83,5 k €↓
2021
Annual accounts 202132,6 k €↑
2019
Annual accounts 201921 k €↓
2018
Annual accounts 201862,8 k €↑
2017
Annual accounts 2017-15,6 k €↓
2016
Annual accounts 2016222,2 k €↓
2015
Annual accounts 2015657,3 k €↑
2013
Annual accounts 2013-114,7 k €↓
2012
Annual accounts 2012170 k €↓
2011
Annual accounts 2011233,4 k €↑
2010
Annual accounts 201031 k €↓
2008
Annual accounts 2008223,8 k €↓
2007
Annual accounts 2007495,7 k €↑
2006
Annual accounts 200627 k €
08/07/2005
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

CADUS

Overview

What does CADUS do?

Trend over 17 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