ACTIVE

SHAPES IMMO

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Financial year 2025 · closed on 31/12/2025

Net result

472,1 k €

+202.3% YoY

Revenue

1,2 M €

-93.7% YoY

Equity

5,2 M €

-38.2% YoY

Workforce

0,0 ETP

-100.0% YoY

What does SHAPES IMMO do?

SHAPES IMMO is a Public limited company incorporated in 2006. Its main activity is: Manufacture of other fabricated metal products n.e.c.. Its registered office is in Kuurne.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0881.454.341

Incorporation

22/05/2006

Legal form

Public limited company

Registered office

Noordlaan 35
8520 Kuurne · FlandreSee on map

Contributed capital

416 514,88 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

25999Manufacture of other fabricated metal products n.e.c.· main 25999Manufacture of other fabricated metal products n.e.c.

Joint committees (2)

Signals

ProfitableSolid equityPositive cashflowPositive EBITDAHealthy social debtsHigh 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		2020		2019		2018		2017		2016		2015		2013		2012		2011		2010		2008		2007
Income statement
Revenue	1,2 M €	-93.7%	19 M €	-2.3%	19,4 M €	-12.2%	22,1 M €	+14.5%	19,3 M €	+44.6%	13,4 M €	-10.9%	15 M €	-3.8%	15,6 M €	+5.2%	14,8 M €	+1.0%	14,6 M €	+30.9%	11,2 M €	+105%	5,5 M €	+1.0%	5,4 M €	+17.7%	4,6 M €		–		–		–
EBITDA	1,1 M €	-32.2%	1,6 M €	-29.9%	2,3 M €	-32.4%	3,4 M €	+21.7%	2,8 M €	+61.6%	1,7 M €	-23.0%	2,3 M €	-6.9%	2,4 M €	+25.9%	1,9 M €	+26.0%	1,5 M €	+15.9%	1,3 M €	+877%	135,6 k €	-66.1%	399,6 k €	+279%	-223,3 k €	-7.2%	-208,2 k €	-180%	-74,3 k €	+39.9%	-123,6 k €
Operating result	851,4 k €	-7.4%	919,4 k €	-37.5%	1,5 M €	-36.4%	2,3 M €	+13.2%	2 M €	+227%	625,7 k €	-59.4%	1,5 M €	+0.6%	1,5 M €	+51.0%	1 M €	+158%	393,1 k €	+444%	72,3 k €	+509%	-17,7 k €	-111%	163,8 k €	+141%	-404,3 k €	-26.3%	-320,1 k €	-153%	-126,4 k €	+6.4%	-135 k €
Net result	472,1 k €	+202%	156,2 k €	-77.3%	688,7 k €	-52.4%	1,4 M €	+20.3%	1,2 M €	+36.8%	879,3 k €	+5.3%	834,8 k €	-18.1%	1 M €	+65.7%	615,2 k €	+2091%	-30,9 k €	+88.6%	-270 k €	-256%	173,6 k €	+48.5%	116,9 k €	+126%	-454,3 k €	-28.0%	-354,8 k €	-271%	-95,5 k €	+36.8%	-151,1 k €
Balance sheet
Equity	5,2 M €	-38.2%	8,4 M €	+1.9%	8,3 M €	+9.1%	7,6 M €	+23.6%	6,1 M €	+24.4%	4,9 M €	+21.8%	4 M €	+26.0%	3,2 M €	+46.6%	2,2 M €	+39.1%	1,6 M €	-1.9%	1,6 M €	-43.0%	2,8 M €	+377%	589,8 k €	+24.5%	473,7 k €	-49.0%	928 k €	+84.4%	503,4 k €	-16.0%	598,9 k €
Total assets	11,8 M €	-46.6%	22 M €	-6.0%	23,4 M €	+19.9%	19,6 M €	+8.2%	18,1 M €	+19.8%	15,1 M €	-0.8%	15,2 M €	+53.6%	9,9 M €	-4.8%	10,4 M €	-4.0%	10,8 M €	-0.9%	10,9 M €	+57.0%	7 M €	+3.0%	6,8 M €	-1.3%	6,8 M €	+5.7%	6,5 M €	+142%	2,7 M €	+73.0%	1,5 M €
Cash	32,6 k €	-89.2%	301,6 k €	-80.5%	1,5 M €	+14.2%	1,4 M €	+275%	361,3 k €	-9.6%	399,8 k €	-26.6%	544,9 k €	-22.5%	703,1 k €	+18.7%	592,3 k €	+335%	136,1 k €	+7.6%	126,5 k €	-74.9%	504,7 k €	+838%	53,8 k €	+10.6%	48,7 k €	-79.4%	236,4 k €	+571%	35,2 k €	-82.7%	203,3 k €
Debts	6,6 M €	-51.4%	13,5 M €	-10.4%	15,1 M €	+26.3%	11,9 M €	+0.3%	11,9 M €	+17.6%	10,1 M €	-8.9%	11,1 M €	+68.0%	6,6 M €	-18.6%	8,1 M €	-11.3%	9,2 M €	-0.8%	9,2 M €	+124%	4,1 M €	-33.2%	6,2 M €	-3.2%	6,4 M €	+14.9%	5,5 M €	+156%	2,2 M €	+129%	946,3 k €
Other
Workforce	0,0 ETP	-100%	85,4 ETP	+4.1%	82,0 ETP	-2.3%	83,9 ETP	+1.5%	82,7 ETP	+4.9%	78,8 ETP	-4.7%	82,7 ETP	+0.7%	82,1 ETP	+7.9%	76,1 ETP	+6.9%	71,2 ETP	+3.8%	68,6 ETP	+114%	32,0 ETP	+6.0%	30,2 ETP	+1.0%	29,9 ETP	+12.4%	26,6 ETP	+1057%	2,3 ETP	+53.3%	1,5 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 · 3 active · 28 ended

Active mandates

HADEFIS

Director · since 13 juillet 2023 · until 01 juin 2029 · 0474.059.388

Represented by Haerinck Dirk

Active

LUTHO

Director · since 13 juillet 2023 · until 01 juin 2029 · 0899.430.025

Represented by Walcarius Fritz

Active

MWM

Director · since 13 juillet 2023 · until 01 juin 2029 · 0454.725.112

Represented by Matthys Wim

Active

Ended mandates

HADEFIS

Director · since 13 juillet 2023 · until 01 juin 2029 · 0474.059.388

Represented by Dirk Haerinck

Ended

HADEFIS

Director · since 02 juin 2017 · until 02 juin 2023 · 0474.059.388

Represented by Dirk Haerinck

Ended

HADEFIS

Director · since 02 juin 2017 · until 13 juillet 2023 · 0474.059.388

Represented by Dirk Haerinck

Ended

HADEFIS

Director · since 02 juin 2017 · until 02 juin 2023 · 0474.059.388

Represented by Dirk Haerinck

Ended

At this address

Other companies at this address

Company	CBE no.
SHAPES GROUP● Active	0750.950.244
SHAPES MACHINING● Active	0451.019.217
SHAPES METALWORKS● Active	0785.841.540

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	27/07/2026	24/07/2025	25/07/2024	27/07/2023	28/07/2022	31/08/2021
General meeting	15/07/2026	15/07/2025	15/07/2024	13/07/2023	30/06/2022	31/08/2021
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	15/07/2026	27/07/2026	Dutch	PDF
Full model	31/12/2024	15/07/2025	24/07/2025	Dutch	PDF
Full model	31/12/2023	15/07/2024	25/07/2024	Dutch	PDF
Full model	31/12/2022	13/07/2023	27/07/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	28/07/2022	Dutch	PDF
Full model	31/12/2020	31/08/2021	31/08/2021	Dutch	PDF
Full model	31/12/2019	30/06/2020	28/07/2020	Dutch	PDF
Full model	31/12/2018	07/06/2019	23/07/2019	Dutch	PDF
Full model	31/12/2017	01/06/2018	26/07/2018	Dutch	PDF
Full modelCorrection	31/12/2016	02/06/2017	26/09/2017	Dutch	PDF
Full model	31/12/2016	02/06/2017	23/06/2017	Dutch	PDF
Full model	31/12/2015	03/06/2016	08/07/2016	Dutch	PDF
Full model	31/12/2014	26/06/2015	28/07/2015	Dutch	PDF
Full model	31/12/2013	06/06/2014	29/07/2014	Dutch	PDF
Full model	31/12/2012	07/06/2013	30/08/2013	Dutch	PDF
Full model	31/12/2011	01/06/2012	30/07/2012	Dutch	PDF
Abridged model	31/12/2010	03/06/2011	03/08/2011	Dutch	PDF
Abridged model	31/12/2009	04/06/2010	30/07/2010	Dutch	PDF
Abridged model	31/12/2008	05/06/2009	28/07/2009	Dutch	PDF
Abridged model	31/12/2007	06/06/2008	29/08/2008	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 · 3 active · 28 ended

Active mandates

HADEFIS

Director · since 13 juillet 2023 · until 01 juin 2029 · 0474.059.388

Represented by Haerinck Dirk

Active

LUTHO

Director · since 13 juillet 2023 · until 01 juin 2029 · 0899.430.025

Represented by Walcarius Fritz

Active

MWM

Director · since 13 juillet 2023 · until 01 juin 2029 · 0454.725.112

Represented by Matthys Wim

Active

Ended mandates

HADEFIS

Director · since 13 juillet 2023 · until 01 juin 2029 · 0474.059.388

Represented by Dirk Haerinck

Ended

HADEFIS

Director · since 02 juin 2017 · until 02 juin 2023 · 0474.059.388

Represented by Dirk Haerinck

Ended

HADEFIS

Director · since 02 juin 2017 · until 13 juillet 2023 · 0474.059.388

Represented by Dirk Haerinck

Ended

HADEFIS

Director · since 02 juin 2017 · until 02 juin 2023 · 0474.059.388

Represented by Dirk Haerinck

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other26/08/2026
DIVERSEN
PDF
Restructuring30/10/2025
ONTSLAGEN - BENOEMINGEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring28/10/2025
BENAMING - DOEL - KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring29/07/2025
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring29/07/2025
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates13/11/2023
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring18/01/2021
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring18/01/2021
MAATSCHAPPELIJKE ZETEL - KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, 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 2025472,1 k €↑
2025
Name changeShapes Immo
2024
Annual accounts 2024156,2 k €↓
2023
Annual accounts 2023688,7 k €↓
2022
Annual accounts 20221,4 M €↑
2021
Annual accounts 20211,2 M €↑
2020
Annual accounts 2020879,3 k €↑
2019
Annual accounts 2019834,8 k €↓
2018
Annual accounts 20181 M €↑
2017
Annual accounts 2017615,2 k €↑
2016
Annual accounts 2016-30,9 k €↑
2015
Annual accounts 2015-270 k €↓
2013
Annual accounts 2013173,6 k €↑
2013
Name changeShapes Metalworks
2012
Annual accounts 2012116,9 k €↑
2011
Annual accounts 2011-454,3 k €↓
2010
Annual accounts 2010-354,8 k €↓
2008
Annual accounts 2008-95,5 k €↑
2008
Name changeSHAPES SUBCONTRACTING
2007
Annual accounts 2007-151,1 k €
2007
Name changeSYNEROM
22/05/2006
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

SHAPES IMMO

Overview

What does SHAPES IMMO 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