ACTIVE

Friendship Development

Financial year 2025 · Closed on 31/12/2025

Net result18 k €+105,8 %over 1 year

Equity1,4 M €+1,3 %over 1 year

Identity

Source · BCE/KBO

Friendship Development is a Public limited company incorporated in 2006. Its main activity is: Buying and selling of own real estate. Its registered office is in Antwerpen.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0881.057.235
Incorporation: 02/05/2006
Legal form: Public limited company
Registered office: Mechelsesteenweg 176
2018 Antwerpen · FlandreSee on map
Contributed capital: 5 661 500,00 €
Latest accounts: 31/12/2025

Activities (NACE)

68100Buying and selling of own real estate· main 68110Buying and selling of own real estate

Signals

ProfitableGood liquidityPositive cashflow

Financials

Source · NBB, 20 filings

Trend over 18 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	–		–		–		–		–
EBITDA	-26,9 k €	+17.6%	-32,6 k €	+26.6%	-44,5 k €	+44.9%	-80,7 k €	-103%	2,8 M €
Operating result	-27,4 k €	+17.3%	-33,1 k €	+26.3%	-45 k €	+44.3%	-80,7 k €	-103%	2,8 M €
Net result	18 k €	+106%	-308,3 k €	-57.5%	-195,8 k €	+27.0%	-268,2 k €	-109%	3 M €
Balance sheet
Equity	1,4 M €	+1.3%	1,4 M €	-18.5%	1,7 M €	-10.5%	1,9 M €	-12.6%	2,1 M €
Total assets	10,5 M €	+9.1%	9,6 M €	+45.7%	6,6 M €	+23.0%	5,4 M €	-24.9%	7,2 M €
Cash	13,6 k €	-88.5%	117,9 k €	+889%	11,9 k €	-89.3%	111,3 k €	-95.7%	2,6 M €
Debts	9 M €	+11.4%	8,1 M €	+66.2%	4,9 M €	+38.7%	3,5 M €	-30.2%	5 M €

Valuation

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

4 active · 12 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
ROBINIA0878.603.333Represented by Peter Leyssens	Gedelegeerd bestuurder27/10/2021 → 11/06/2027Director19/01/2016 → 2024 accountsendedMandate19/01/2016 → 2017 accountsended
CRESCENZA0444.962.556Represented by Serge Musch	Bestuurder15/04/2021 → 27/05/2025Director19/01/2016 → 2024 accountsendedMandate19/01/2016 → 2018 accountsended
Mozes Spitzer	Bestuurder15/04/2021 → 27/05/2025Director19/01/2016 → 2024 accountsendedMandate19/01/2016 → 2016 accountsended
Domest0471.330.027Represented by Jurgen Van Bogaert	Gedelegeerd bestuurder01/04/2021 → 11/06/2027Director01/04/2021 → 2024 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Havanges0825.236.111Represented by Hans Van Gestel	Director15/11/2018 → 2020 accountsMandate15/11/2018 → 2018 accounts
Mollitiam0677.966.157Represented by Jurgen Van Bogaert	Mandate06/07/2017 → 2018 accounts

Other companies at this address

Mechelsesteenweg 176 2018 Antwerpen

Company	CBE no.
Cadran Properties● Active	0787.688.104
C-HIVE● Active	0772.491.964
CORES DEVELOPMENT● Active	0889.278.875
Cores Industries● Active	0803.953.024
Cores Properties● Active	0881.515.412
Cores Rental Service● Active	0632.678.540
Friendship E● Active	0881.202.933
Friendship T● Active	0881.203.329
KALVENNE● Active	0676.542.138
Osteoworks● Active	0779.318.982
Ter Veer● Active	0875.582.574
The Quint● Active	0714.965.620

Full financial information

Source · NBB

	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	15/06/2026	23/04/2025	30/04/2024	16/05/2023	16/05/2022	04/05/2021
General meeting	12/06/2026	15/04/2025	15/04/2024	17/04/2023	15/04/2022	15/04/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	12/06/2026	15/06/2026	Dutch	PDF
Full model	31/12/2024	15/04/2025	23/04/2025	Dutch	PDF
Full model	31/12/2023	15/04/2024	30/04/2024	Dutch	PDF
Full model	31/12/2022	17/04/2023	16/05/2023	Dutch	PDF
Full model	31/12/2021	15/04/2022	16/05/2022	Dutch	PDF
Full model	31/12/2020	15/04/2021	04/05/2021	Dutch	PDF
Full model	31/12/2019	15/04/2020	12/05/2020	Dutch	PDF
Full model	31/12/2018	15/04/2019	15/05/2019	Dutch	PDF
Full model	31/12/2017	16/04/2018	18/06/2018	Dutch	PDF
Full model	31/12/2016	18/04/2017	30/05/2017	Dutch	PDF
Full model	31/12/2015	27/06/2016	26/07/2016	Dutch	PDF
Full model	31/12/2014	24/07/2015	28/09/2015	Dutch	PDF
Full model	31/12/2013	13/10/2014	14/11/2014	Dutch	PDF
Full model	31/12/2012	30/08/2013	27/09/2013	Dutch	PDF
Full model	31/12/2011	16/04/2012	28/08/2012	Dutch	PDF
Full model	31/12/2010	15/04/2011	09/09/2011	Dutch	PDF
Full model	31/12/2009	15/04/2010	31/08/2010	Dutch	PDF
Full model	31/12/2008	13/08/2009	31/08/2009	Dutch	PDF
Full model	31/12/2007	30/07/2008	26/08/2008	Dutch	PDF
Abridged model	31/12/2006	28/06/2007	19/07/2007	Dutch	PDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

4 active · 12 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
ROBINIA0878.603.333Represented by Peter Leyssens	Gedelegeerd bestuurder27/10/2021 → 11/06/2027Director19/01/2016 → 2024 accountsendedMandate19/01/2016 → 2017 accountsended
CRESCENZA0444.962.556Represented by Serge Musch	Bestuurder15/04/2021 → 27/05/2025Director19/01/2016 → 2024 accountsendedMandate19/01/2016 → 2018 accountsended
Mozes Spitzer	Bestuurder15/04/2021 → 27/05/2025Director19/01/2016 → 2024 accountsendedMandate19/01/2016 → 2016 accountsended
Domest0471.330.027Represented by Jurgen Van Bogaert	Gedelegeerd bestuurder01/04/2021 → 11/06/2027Director01/04/2021 → 2024 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Havanges0825.236.111Represented by Hans Van Gestel	Director15/11/2018 → 2020 accountsMandate15/11/2018 → 2018 accounts
Mollitiam0677.966.157Represented by Jurgen Van Bogaert	Mandate06/07/2017 → 2018 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates12/02/2026
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other17/07/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING - ALGEMENE VERGADERING
PDF
Other11/10/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office06/12/2022
MAATSCHAPPELIJKE ZETEL
PDF
Mandates23/06/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/01/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/06/2021
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings18 filings

Mandates

ROBINIA

CRESCENZA

Mozes Spitzer

Domest

Havanges

Nivo3 BV

Mollitiam

JURISS

Whitewood Capital Property Management

Francis Gerard WALKER

REC TRACK

ROMACON

Show the 4 other mandates

2006200720082009201020112012201320142015201620172018201920202021202220232024202520262027

Friendship DevelopmentMidcore DevelopmentMARKLAND ANTWERP

Mechelsesteenweg 176, 2018 Antwerp-2018

Gedelegeerd bestuurderDirector

BestuurderDirector

Gedelegeerd bestuurderDirector

Director

Managing directorDirector

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Mechelsesteenweg 176, 2018 Antwerp-2018Current	accounts 2022 → 2025	Accounts 2025 · 2026-00166353
Noorderlaan 133 bte 40, 2030 Antwerp-2030	accounts 2021	Accounts 2021 · 2022-20027042

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
Friendship DevelopmentCurrent	accounts 2025	Accounts 2025 · 2026-00166353
Midcore Development	accounts 2016 → 2024	Accounts 2024 · 2025-00073298
MARKLAND ANTWERP	accounts 2006 → 2015	Accounts 2015 · 2016-35500185

Events

2025
Annual accounts 202518 k €↑
2025
Name changeFriendship Development
2024
Annual accounts 2024-308,3 k €↓
2023
Annual accounts 2023-195,8 k €↑
2022
Annual accounts 2022-268,2 k €↓
2021
Annual accounts 20213 M €↑
2018
Annual accounts 2018-851,5 k €↓
2017
Annual accounts 20171,5 M €↑
2016
Annual accounts 2016-1,8 M €↓
2016
Name changeMidcore Development
2015
Annual accounts 2015-418,5 k €↑
2014
Annual accounts 2014-456,5 k €↓
2013
Annual accounts 2013-311,7 k €↑
2012
Annual accounts 2012-493,4 k €↑
2011
Annual accounts 2011-651,1 k €↓
2010
Annual accounts 2010-584 k €↑
2009
Annual accounts 2009-598,7 k €↓
2008
Annual accounts 2008-541,2 k €↓
2007
Annual accounts 2007-366,3 k €↑
2006
Annual accounts 2006-1,1 M €
02/05/2006
IncorporationPublic limited company

Friendship Development

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events