ACTIVE

CUIRASS

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Financial year 2025 · closed on 31/12/2025

Net result

-31,9 k €

-105.2% YoY

Revenue

0 €

-100.0% YoY

Equity

1,9 M €

-1.6% YoY

What does CUIRASS do?

CUIRASS is a Private limited company incorporated in 2005. Its registered office is in Merelbeke-Melle.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0876.174.076

Incorporation

16/09/2005

Legal form

Private limited company

Registered office

Brusselsesteenweg 230
9090 Merelbeke-Melle · FlandreSee on map

Contributed capital

6 200,00 €

Latest accounts

31/12/2025

Joint committees (1)

Signals

Solid equityLow riskGood liquidity

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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
Revenue	0 €	-100%	957,8 k €		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	-48,4 k €	-106%	814,3 k €	+387%	167,3 k €	+7.4%	155,8 k €	-29.4%	220,7 k €	-0.9%	222,6 k €	+2.1%	218,1 k €	+8.7%	200,5 k €	-1.1%	202,8 k €	-3.8%	210,9 k €	-6.9%	226,5 k €	+17.8%	192,3 k €	-4.1%	200,5 k €	+10.5%	181,4 k €	+8.7%	166,9 k €	-3.0%	172,1 k €	+13.7%	151,3 k €	+6.5%	142,1 k €
Operating result	-61,5 k €	-108%	799,7 k €	+386%	164,4 k €	+7.5%	152,9 k €	-30.0%	218,5 k €	-1.3%	221,5 k €	+2.5%	216,1 k €	+9.7%	197 k €	-1.1%	199,2 k €	+20.6%	165,2 k €	-4.8%	173,6 k €	+25.8%	138 k €	-6.4%	147,4 k €	+17.9%	125,1 k €	+14.6%	109,1 k €	-9.3%	120,3 k €	+29.0%	93,2 k €	+9.9%	84,8 k €
Net result	-31,9 k €	-105%	610,4 k €	+457%	109,6 k €	+6.8%	102,6 k €	-30.7%	148,2 k €	-2.9%	152,7 k €	+9.3%	139,7 k €	+14.9%	121,5 k €	-0.6%	122,3 k €	+24.1%	98,5 k €	-9.6%	109 k €	+14.7%	95 k €	-6.1%	101,2 k €	+18.0%	85,8 k €	+14.8%	74,8 k €	-7.2%	80,6 k €	+30.1%	61,9 k €	+16.0%	53,4 k €
Balance sheet
Equity	1,9 M €	-1.6%	2 M €	+45.4%	1,3 M €	+8.9%	1,2 M €	+9.1%	1,1 M €	+15.1%	983,2 k €	-15.4%	1,2 M €	+13.7%	1 M €	+13.5%	900,7 k €	+15.7%	778,4 k €	+14.5%	679,9 k €	+19.1%	570,9 k €	+12.0%	509,9 k €	+24.8%	408,6 k €	+26.6%	322,8 k €	+30.1%	248,1 k €	+48.1%	167,5 k €	+58.6%	105,6 k €
Total assets	1,9 M €	-6.4%	2,1 M €	+51.5%	1,4 M €	+8.9%	1,3 M €	+8.8%	1,2 M €	+12.0%	1 M €	-15.7%	1,2 M €	+16.0%	1,1 M €	+14.4%	921 k €	+13.3%	812,9 k €	+9.0%	745,9 k €	+6.4%	700,7 k €	+18.8%	589,7 k €	+7.3%	549,6 k €	-1.9%	560,2 k €	-2.2%	573,1 k €	+6.0%	540,8 k €	-13.5%	624,9 k €
Cash	1,5 M €	-6.7%	1,7 M €	+221%	517,5 k €	-45.0%	940,3 k €	+7.7%	872,7 k €	+9.6%	796,6 k €	-11.8%	903,3 k €	+15.3%	783,7 k €	+16.7%	671,4 k €	+22.3%	549,1 k €	+18.7%	462,5 k €	+34.0%	345,3 k €	+36.4%	253,2 k €	+58.8%	159,5 k €	+43.1%	111,5 k €	+1.6%	109,7 k €	+216%	34,7 k €		–
Debts	17,7 k €	-84.9%	117,5 k €	+390%	24 k €	+8.4%	22,1 k €	-2.8%	22,7 k €	-51.8%	47,1 k €	-22.3%	60,7 k €	+91.7%	31,6 k €	+56.2%	20,3 k €	-41.2%	34,5 k €	-47.7%	65,9 k €	-49.2%	129,8 k €	+62.6%	79,8 k €	-43.4%	141 k €	-40.6%	237,4 k €	-27.0%	325 k €	-12.9%	373,3 k €	-28.1%	519,3 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 6 ended

Active mandates

Johan Verhaeghe

Mandate

Active

Ended mandates

Carl De Bleeker

Director · since 12 décembre 2019

Ended

Johan Verhaeghe

Director · since 12 décembre 2019

Ended

Carl De Bleeker

Director

Ended

Carl De Bleeker

Manager

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	01/01/2022	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	26/08/2026	31/08/2025	30/08/2024	31/08/2023	29/09/2022	28/09/2021
General meeting	26/08/2026	26/08/2025	26/08/2024	05/06/2023	06/06/2022	17/05/2021
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
Micro model	31/12/2025	26/08/2026	26/08/2026	Dutch	PDF
Micro model	31/12/2024	26/08/2025	31/08/2025	Dutch	PDF
Micro model	31/12/2023	26/08/2024	30/08/2024	Dutch	PDF
Micro model	31/12/2022	05/06/2023	31/08/2023	Dutch	PDF
Micro model	31/12/2021	06/06/2022	29/09/2022	Dutch	PDF
Micro model	31/12/2020	17/05/2021	28/09/2021	Dutch	PDF
Micro model	31/12/2019	07/09/2020	06/10/2020	Dutch	PDF
Micro model	31/12/2018	20/05/2019	16/09/2019	Dutch	PDF
Micro model	31/12/2017	22/05/2018	30/08/2018	Dutch	PDF
Micro model	31/12/2016	15/05/2017	31/08/2017	Dutch	PDF
Abridged model	31/12/2015	17/05/2016	30/08/2016	Dutch	PDF
Abridged model	31/12/2014	18/05/2015	27/08/2015	Dutch	PDF
Abridged model	31/12/2013	19/05/2014	28/08/2014	Dutch	PDF
Abridged model	31/12/2012	21/05/2013	30/08/2013	Dutch	PDF
Abridged model	31/12/2011	21/05/2012	31/08/2012	Dutch	PDF
Abridged model	31/12/2010	16/05/2011	19/07/2011	Dutch	PDF
Abridged model	31/12/2009	17/05/2010	16/07/2010	Dutch	PDF
Abridged model	31/12/2008	18/05/2009	16/07/2009	Dutch	PDF
Abridged model	31/12/2007	19/05/2008	18/07/2008	Dutch	PDF
Abridged model	31/12/2006	14/05/2007	30/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 · 1 active · 6 ended

Active mandates

Johan Verhaeghe

Mandate

Active

Ended mandates

Carl De Bleeker

Director · since 12 décembre 2019

Ended

Johan Verhaeghe

Director · since 12 décembre 2019

Ended

Carl De Bleeker

Director

Ended

Carl De Bleeker

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates06/12/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/09/2020
WIJZIGING RECHTSVORM - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares06/01/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates31/01/2013
ONTSLAGEN - BENOEMINGEN
PDF
Other26/07/2006
DIVERSEN
PDF
Mandates18/07/2006
ONTSLAGEN - BENOEMINGEN
PDF
Other29/09/2005
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 2025-31,9 k €↓
2024
Annual accounts 2024610,4 k €↑
2023
Annual accounts 2023109,6 k €↑
2022
Annual accounts 2022102,6 k €↓
2021
Annual accounts 2021148,2 k €↓
2020
Annual accounts 2020152,7 k €↑
2018
Annual accounts 2018139,7 k €↑
2017
Annual accounts 2017121,5 k €↓
2016
Annual accounts 2016122,3 k €↑
2015
Annual accounts 201598,5 k €↓
2014
Annual accounts 2014109 k €↑
2013
Annual accounts 201395 k €↓
2012
Annual accounts 2012101,2 k €↑
2011
Annual accounts 201185,8 k €↑
2010
Annual accounts 201074,8 k €↓
2009
Annual accounts 200980,6 k €↑
2008
Annual accounts 200861,9 k €↑
2007
Annual accounts 200753,4 k €
16/09/2005
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

CUIRASS

Overview

What does CUIRASS 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