NORMAL SITUATION

CEGEKA

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Financial year 2025 · closed on 31/12/2025

Net result

6,9 M €

-25.4% YoY

Revenue

412,7 M €

+5.8% YoY

Equity

56,9 M €

+13.9% YoY

Workforce

1 056,1 ETP

-0.8% YoY

Company — Normal situation.

Strike-off: 04 août 2026

What does CEGEKA do?

CEGEKA is a Public limited company incorporated in 2006. It employs on average 1 056,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0882.419.490

Incorporation

04/07/2006

Legal form

Public limited company

Contributed capital

7 687 438,48 €

Latest accounts

31/12/2025

Average workforce

1 056,1 ETP

Joint committees (3)

10202
200
218

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Revenue	412,7 M €	+5.8%	390 M €	+13.7%	343,1 M €	+16.0%	295,9 M €	+15.1%	257 M €	+8.4%	237,1 M €	+3.7%	228,7 M €	+6.2%	215,3 M €	+13.4%	189,8 M €	+5.8%	179,4 M €	+8.5%	165,3 M €	+15.1%	143,6 M €	+17.9%	121,8 M €	+10.6%	110,1 M €	+21.4%	90,7 M €	+88.8%	48 M €	-17.1%	57,9 M €	+105%	28,2 M €
EBITDA	21,5 M €	-2.4%	22 M €	+5.4%	20,9 M €	+47.6%	14,1 M €	-49.9%	28,2 M €	+86.9%	15,1 M €	+29.4%	11,7 M €	-40.0%	19,4 M €	+12.0%	17,3 M €	+6.5%	16,3 M €	+24.5%	13,1 M €	+4.5%	12,5 M €	+40.7%	8,9 M €	+2.7%	8,7 M €	+29.6%	6,7 M €	+30.4%	5,1 M €	+40.9%	3,6 M €	+148%	1,5 M €
Operating result	9,4 M €	-20.1%	11,7 M €	+11.0%	10,6 M €	+146%	4,3 M €	-79.0%	20,5 M €	+215%	6,5 M €	+120%	3 M €	-73.8%	11,3 M €	+13.1%	9,9 M €	+14.7%	8,7 M €	+30.1%	6,7 M €	+7.9%	6,2 M €	+60.3%	3,9 M €	-10.9%	4,3 M €	+18.4%	3,7 M €	+14.3%	3,2 M €	+74.6%	1,8 M €	+79.3%	1 M €
Net result	6,9 M €	-25.4%	9,3 M €	+33.4%	7 M €	-14.9%	8,2 M €	-40.1%	13,7 M €	+327%	3,2 M €	+785%	-467 k €	-104%	12,5 M €	-29.2%	17,6 M €	+445%	3,2 M €	+3.6%	3,1 M €	+42.7%	2,2 M €	+172%	805,5 k €	-49.0%	1,6 M €	-3.7%	1,6 M €	-9.3%	1,8 M €	+70.1%	1,1 M €	+7.6%	987,9 k €
Balance sheet
Equity	56,9 M €	+13.9%	49,9 M €	+4.8%	47,6 M €	+14.4%	41,6 M €	+24.2%	33,5 M €	+15.5%	29 M €	+12.4%	25,8 M €	-1.8%	26,3 M €	+12.8%	23,3 M €	+12.8%	20,6 M €	+18.6%	17,4 M €	+21.8%	14,3 M €	+9.5%	13,1 M €	-35.7%	20,3 M €	-4.0%	21,2 M €	+22.9%	17,2 M €	+11.7%	15,4 M €	+30.2%	11,8 M €
Total assets	198,3 M €	+16.2%	170,7 M €	+7.9%	158,2 M €	+14.7%	137,9 M €	-2.4%	141,4 M €	+14.2%	123,9 M €	+12.0%	110,6 M €	-10.0%	122,9 M €	+9.1%	112,7 M €	-1.1%	114 M €	+0.4%	113,5 M €	+42.3%	79,8 M €	-0.9%	80,5 M €	+17.6%	68,5 M €	+6.7%	64,2 M €	+58.3%	40,6 M €	+29.1%	31,4 M €	-20.8%	39,7 M €
Cash	32,2 k €	-12.3%	36,8 k €	-71.0%	127 k €	+7.0%	118,7 k €	-2.9%	122,2 k €	-5.1%	128,8 k €	-14.2%	150,1 k €	-89.2%	1,4 M €	+106%	674,4 k €	+2596%	25 k €	-70.5%	84,7 k €	-68.7%	270,8 k €	+680%	34,7 k €	+88.7%	18,4 k €	-64.1%	51,2 k €	-92.0%	640,2 k €	-66.2%	1,9 M €	+98.5%	954,7 k €
Debts	118,9 M €	+0.2%	118,6 M €	+16.0%	102,3 M €	+22.6%	83,4 M €	-16.5%	100 M €	+23.2%	81,1 M €	-0.7%	81,7 M €	-13.3%	94,2 M €	+8.4%	86,9 M €	-2.8%	89,4 M €	-3.4%	92,6 M €	+51.6%	61,1 M €	-2.4%	62,5 M €	+53.5%	40,8 M €	+15.0%	35,4 M €	+85.8%	19,1 M €	+48.3%	12,9 M €	-49.2%	25,3 M €
Other
Workforce	1 056,1 ETP	-0.8%	1 064,2 ETP	+0.7%	1 056,8 ETP	+1.9%	1 037,2 ETP	-1.8%	1 055,9 ETP	-0.1%	1 057,2 ETP	+1.7%	1 040,0 ETP	+9.9%	946,7 ETP	+11.7%	847,7 ETP	+15.8%	732,0 ETP	+10.4%	663,1 ETP	+7.1%	618,9 ETP	+4.8%	590,5 ETP	+13.3%	521,1 ETP	+23.4%	422,4 ETP	+67.1%	252,8 ETP	+2.6%	246,5 ETP	+15.2%	213,9 ETP

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 41 ended

Active mandates

AS Invest

Director · since 24 juin 2025 · until 03 juin 2031 · 1003.410.857

Represented by André Knaepen

Active

Esdacon

Director · since 03 juin 2025 · until 03 juin 2031 · 0825.447.729

Represented by Stephan Daems

Active

TOVI

Director · since 03 juin 2025 · until 03 juin 2031 · 0660.881.388

Represented by Tom Knaepen

Active

ID en D

Managing director · since 04 juin 2019 · until 17 juin 2025 · 0444.955.430

Represented by Stijn Bijnens

Active

SOFIN

Director · since 04 juin 2019 · until 02 juin 2025 · 0507.724.427

Represented by André Knaepen

Active

Ended mandates

TOVI

Director · since 02 juin 2020 · until 02 juin 2026 · 0660.881.388

Represented by Tom Knaepen

Ended

TOVI

Director · since 02 juin 2020 · until 01 juin 2026 · 0660.881.388

Represented by Tom Knaepen

Ended

Esdacon

Director · since 04 juin 2019 · until 02 juin 2025 · 0825.447.729

Represented by Stephan Daems

Ended

Esdacon

Director · since 04 juin 2019 · until 03 juin 2025 · 0825.447.729

Represented by Stephan Daems

Ended

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	24/06/2026	18/06/2025	02/07/2024	10/07/2023	30/06/2022	23/06/2021
General meeting	02/06/2026	03/06/2025	04/06/2024	06/06/2023	07/06/2022	01/06/2021
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

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	02/06/2026	24/06/2026	Dutch	PDF
Full model	31/12/2024	03/06/2025	18/06/2025	Dutch	PDF
Full model	31/12/2023	04/06/2024	02/07/2024	Dutch	PDF
Full model	31/12/2022	06/06/2023	10/07/2023	Dutch	PDF
Full model	31/12/2021	07/06/2022	30/06/2022	Dutch	PDF
Full model	31/12/2020	01/06/2021	23/06/2021	Dutch	PDF
Full model	31/12/2019	02/06/2020	25/06/2020	Dutch	PDF
Full model	31/12/2018	04/06/2019	17/06/2019	Dutch	PDF
Full model	31/12/2017	05/06/2018	08/06/2018	Dutch	PDF
Full model	31/12/2016	06/06/2017	27/06/2017	Dutch	PDF
Full model	31/12/2015	07/06/2016	21/06/2016	Dutch	PDF
Full model	31/12/2014	02/06/2015	29/06/2015	Dutch	PDF
Full model	31/12/2013	03/06/2014	18/06/2014	Dutch	PDF
Full modelCorrection	31/12/2012	04/06/2013	24/03/2014	Dutch	PDF
Full model	31/12/2012	04/06/2013	02/07/2013	Dutch	PDF
Full model	31/12/2011	05/06/2012	10/07/2012	Dutch	PDF
Full model	31/12/2010	07/06/2011	14/07/2011	Dutch	PDF
Full model	31/12/2009	01/06/2010	30/06/2010	Dutch	PDF
Full modelCorrection	31/12/2008	02/06/2009	30/09/2009	Dutch	PDF
Full model	31/12/2008	02/06/2009	09/06/2009	Dutch	PDF
Full model	31/12/2007	03/06/2008	19/06/2008	Dutch	PDF
Full model	31/12/2006	05/06/2007	13/06/2007	Dutch	PDF

Estimate

Indicative valuation

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 · 5 active · 41 ended

Active mandates

AS Invest

Director · since 24 juin 2025 · until 03 juin 2031 · 1003.410.857

Represented by André Knaepen

Active

Esdacon

Director · since 03 juin 2025 · until 03 juin 2031 · 0825.447.729

Represented by Stephan Daems

Active

TOVI

Director · since 03 juin 2025 · until 03 juin 2031 · 0660.881.388

Represented by Tom Knaepen

Active

ID en D

Managing director · since 04 juin 2019 · until 17 juin 2025 · 0444.955.430

Represented by Stijn Bijnens

Active

SOFIN

Director · since 04 juin 2019 · until 02 juin 2025 · 0507.724.427

Represented by André Knaepen

Active

Ended mandates

TOVI

Director · since 02 juin 2020 · until 02 juin 2026 · 0660.881.388

Represented by Tom Knaepen

Ended

TOVI

Director · since 02 juin 2020 · until 01 juin 2026 · 0660.881.388

Represented by Tom Knaepen

Ended

Esdacon

Director · since 04 juin 2019 · until 02 juin 2025 · 0825.447.729

Represented by Stephan Daems

Ended

Esdacon

Director · since 04 juin 2019 · until 03 juin 2025 · 0825.447.729

Represented by Stephan Daems

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Dissolution11/08/2026
RUBRIEK EINDE (STOPZETTING, INTREKKING STOPZETTING, NIETIGHEID, GER. AK., GERECHTELIJKE REORGANISATIE, ENZ... - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring22/06/2026
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates02/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/05/2025
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring29/01/2025
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring25/11/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring25/11/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring01/07/2024
ONTSLAGEN - BENOEMINGEN - 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 20256,9 M €↓
03/06/2025
reconductionStijn Bijnens — vast vertegenwoordiger (ID&D NV)
03/06/2025
reconductionStephan Daems — vast vertegenwoordiger (Esdacon BV)
03/06/2025
reconductionTom Knaepen — vast vertegenwoordiger (TOVI BV)
03/06/2025
nominationStijn Bijnens — gedelegeerd bestuurder
03/06/2025
nominationAndré Knaepen — vast vertegenwoordiger (AS Invest BV)
01/01/2025
nominationAS INVEST BV — bestuurder
01/01/2025
autre
2024
Annual accounts 20249,3 M €↑
03/01/2024
demissionWATTEEUW Bart Jozef — vast vertegenwoordiger
03/01/2024
demissionDAEMS Stephan Frank Andre — vast vertegenwoordiger
2023
Annual accounts 20237 M €↓
06/06/2023
reconductionStefan Olivier — commissaris
2022
Annual accounts 20228,2 M €↓
2021
Annual accounts 202113,7 M €↑
2020
Annual accounts 20203,2 M €↑
2019
Annual accounts 2019-467 k €↓
2018
Annual accounts 201812,5 M €↓
2017
Annual accounts 201717,6 M €↑
2016
Annual accounts 20163,2 M €↑
2015
Annual accounts 20153,1 M €↑
2014
Annual accounts 20142,2 M €↑
2013
Annual accounts 2013805,5 k €↓
2012
Annual accounts 20121,6 M €↓
2012
Name changeCegeka nv
2011
Annual accounts 20111,6 M €↓
2010
Annual accounts 20101,8 M €↑
2009
Annual accounts 20091,1 M €↑
2008
Annual accounts 2008987,9 k €
2008
Name changeCEGEKA ICT DIENSTEN
04/07/2006
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

CEGEKA

Overview

What does CEGEKA do?

Trend over 18 financial years

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