ACTIVE

GREFAN

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Financial year 2025 · closed on 31/12/2025

Net result

68,9 k €

+9.8% YoY

Gross margin

124,2 k €

+15.9% YoY

Equity

237,7 k €

-6.3% YoY

What does GREFAN do?

GREFAN is a Private limited company incorporated in 2006. Its main activity is: Management consultancy activities. Its registered office is in Nazareth-De Pinte.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0885.989.684

Incorporation

28/12/2006

Legal form

Private limited company

Registered office

's Gravenstraat 216
9810 Nazareth-De Pinte · FlandreSee on map

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities 68310Real estate agencies 68311Real estate agencies 70311Activities of head offices; management consultancy activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	124,2 k €	+15.9%	107,2 k €	+84.3%	58,2 k €	+5.0%	55,4 k €	+34.3%	41,3 k €	+15.9%	35,6 k €	-27.8%	49,3 k €	+267%	13,5 k €	-66.8%	40,5 k €	-55.0%	90 k €	+83.2%	49,1 k €	+38.5%	35,4 k €	+33.6%	26,5 k €	-4.3%	27,7 k €	-61.0%	71,1 k €	+53.7%	46,3 k €	-41.0%	78,4 k €	+5.2%	74,5 k €	+67.1%	44,6 k €
EBITDA	122 k €	+16.0%	105,2 k €	+85.5%	56,7 k €	+4.9%	54,1 k €	+34.8%	40,1 k €	+22.8%	32,7 k €	-32.4%	48,3 k €	+296%	12,2 k €	-67.4%	37,4 k €	-57.9%	88,8 k €	+88.7%	47,1 k €	+40.0%	33,6 k €	+35.5%	24,8 k €	-3.7%	25,7 k €	-62.1%	68 k €	+54.2%	44,1 k €	-42.6%	76,9 k €	+6.0%	72,5 k €	+65.1%	43,9 k €
Operating result	102,1 k €	+11.4%	91,6 k €	+68.5%	54,4 k €	+4.5%	52 k €	+38.2%	37,7 k €	+20.7%	31,2 k €	-34.6%	47,7 k €	+291%	12,2 k €	-67.4%	37,4 k €	-57.8%	88,5 k €	+89.6%	46,7 k €	+99.7%	23,4 k €	+64.7%	14,2 k €	-6.2%	15,1 k €	-70.8%	51,9 k €	+85.6%	28 k €	-61.4%	72,4 k €	+20.3%	60,1 k €	+78.4%	33,7 k €
Net result	68,9 k €	+9.8%	62,8 k €	+77.3%	35,4 k €	-0.7%	35,7 k €	+28.4%	27,8 k €	+24.3%	22,4 k €	-25.9%	30,2 k €	+562%	4,6 k €	-80.2%	23,1 k €	-58.2%	55,1 k €	+93.4%	28,5 k €	+69.2%	16,9 k €	+66.4%	10,1 k €	-8.6%	11,1 k €	-68.4%	35,1 k €	+87.8%	18,7 k €	-61.9%	49 k €	+21.5%	40,3 k €	+84.2%	21,9 k €
Balance sheet
Equity	237,7 k €	-6.3%	253,7 k €	+32.9%	190,9 k €	+6.9%	178,6 k €	-9.8%	198 k €	-10.0%	220 k €	+2.6%	214,5 k €	-30.0%	306,4 k €	+1.1%	303,1 k €	+8.2%	280,1 k €	+24.5%	224,9 k €	+14.5%	196,4 k €	+9.4%	179,6 k €	-1.5%	182,2 k €	+6.5%	171,2 k €	+25.8%	136,1 k €	+15.9%	117,4 k €	+71.6%	68,4 k €	+144%	28,1 k €
Total assets	277,2 k €	-6.8%	297,4 k €	+14.7%	259,4 k €	+17.7%	220,5 k €	-0.0%	220,6 k €	-8.1%	240 k €	+0.9%	238 k €	-25.4%	318,9 k €	-2.8%	328 k €	+11.3%	294,8 k €	+23.6%	238,6 k €	+16.2%	205,3 k €	+0.7%	204 k €	+0.4%	203,2 k €	+8.7%	186,8 k €	+9.1%	171,3 k €	-0.8%	172,7 k €	+57.3%	109,8 k €	+90.3%	57,7 k €
Cash	108,1 k €	-17.8%	131,5 k €	-16.5%	157,6 k €	-1.2%	159,5 k €	+19.5%	133,4 k €	+15.0%	116 k €	+248%	33,3 k €	-74.6%	131 k €	+44.5%	90,7 k €	-33.8%	136,9 k €	+66.9%	82 k €	+20.8%	67,9 k €	-52.0%	141,4 k €	+10.2%	128,4 k €	+8.2%	118,6 k €	+39.8%	84,8 k €	-21.3%	107,8 k €	+217%	34 k €	+143%	14 k €
Debts	39,4 k €	-9.8%	43,7 k €	-35.6%	67,9 k €	+64.2%	41,3 k €	+83.5%	22,5 k €	+12.2%	20,1 k €	-14.7%	23,5 k €	+89.0%	12,5 k €	-49.9%	24,9 k €	+68.5%	14,8 k €	+8.3%	13,6 k €	+53.7%	8,9 k €	-63.4%	24,2 k €	+38.9%	17,4 k €	+15.5%	15,1 k €	-57.1%	35,1 k €	-34.5%	53,7 k €	+30.4%	41,1 k €	+39.5%	29,5 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

Greetje Van Hecke

Director

Active

Stefan Vandekerckhove

Director

Active

Ended mandates

Greetje Van Hecke

Manager · since 20 décembre 2006

Ended

Stefan Vandekerckhove

Manager · since 20 décembre 2006

Ended

Greetje Van Hecke

Manager

Ended

Stefan Vandekerckhove

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	31/08/2026	29/08/2025	27/09/2024	15/09/2023	30/08/2022	30/09/2021
General meeting	28/08/2026	26/08/2025	27/09/2024	12/09/2023	13/08/2022	12/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	28/08/2026	31/08/2026	Dutch	PDF
Micro model	31/12/2024	26/08/2025	29/08/2025	Dutch	PDF
Micro model	31/12/2023	27/09/2024	27/09/2024	Dutch	PDF
Micro model	31/12/2022	12/09/2023	15/09/2023	Dutch	PDF
Micro model	31/12/2021	13/08/2022	30/08/2022	Dutch	PDF
Micro model	31/12/2020	12/06/2021	30/09/2021	Dutch	PDF
Micro model	31/12/2019	28/09/2020	28/10/2020	Dutch	PDF
Micro model	31/12/2018	30/06/2019	31/08/2019	Dutch	PDF
Micro model	31/12/2017	30/06/2018	25/08/2018	Dutch	PDF
Micro model	31/12/2016	30/06/2017	22/09/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	31/08/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	24/09/2015	Dutch	PDF
Abridged model	31/12/2013	14/06/2014	04/07/2014	Dutch	PDF
Abridged model	31/12/2012	29/06/2013	26/07/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	30/07/2012	Dutch	PDF
Abridged model	31/12/2010	11/06/2011	24/06/2011	Dutch	PDF
Abridged model	31/12/2009	30/06/2010	29/07/2010	Dutch	PDF
Abridged model	31/12/2008	13/06/2009	02/07/2009	Dutch	PDF
Abridged model	31/12/2007	14/06/2008	02/07/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 2 active · 4 ended

Active mandates

Greetje Van Hecke

Director

Active

Stefan Vandekerckhove

Director

Active

Ended mandates

Greetje Van Hecke

Manager · since 20 décembre 2006

Ended

Stefan Vandekerckhove

Manager · since 20 décembre 2006

Ended

Greetje Van Hecke

Manager

Ended

Stefan Vandekerckhove

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/12/2019
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Capital / shares28/01/2014
KAPITAAL - AANDELEN
PDF
Other09/01/2007
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 202568,9 k €↑
2024
Annual accounts 202462,8 k €↑
2023
Annual accounts 202335,4 k €↓
2022
Annual accounts 202235,7 k €↑
2021
Annual accounts 202127,8 k €↑
2020
Annual accounts 202022,4 k €↓
2019
Annual accounts 201930,2 k €↑
2018
Annual accounts 20184,6 k €↓
2017
Annual accounts 201723,1 k €↓
2016
Annual accounts 201655,1 k €↑
2015
Annual accounts 201528,5 k €↑
2014
Annual accounts 201416,9 k €↑
2013
Annual accounts 201310,1 k €↓
2012
Annual accounts 201211,1 k €↓
2011
Annual accounts 201135,1 k €↑
2010
Annual accounts 201018,7 k €↓
2009
Annual accounts 200949 k €↑
2008
Annual accounts 200840,3 k €↑
2007
Annual accounts 200721,9 k €
28/12/2006
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

GREFAN

Overview

What does GREFAN do?

Trend over 19 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