Financials
Financial year 2025
ITHAKA from Oostende, company number BE0448387646, closed financial year 2025 with a result of € -29,736 after tax. For that financial year ITHAKA recorded a gross margin of € 1.7 million and equity of € 1 million. Compared with financial year 2024, the result moved from € 116,416 to € -29,736. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 18, 2026.
€ 1 million
▼ 4% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -29,736
▼ still € 116,416 profit in 2024
Profit after tax over the fiscal year.
€ 706,308
▼ 7% vs 2024
Cash and bank balances on the last day of the fiscal year.
People and assets in 2025
20.8
▲ 0.6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.6 million
▲ 17% vs 2024
€ 77,300 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 26,315
▼ 27% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 278,648
▼ 9% vs 2024
€ 28,115 is repaid this year. At this pace the long-term loan is gone in ≈ 10 years.
€ 6,977
▼ 22% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 239,907
▲ 6% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,147,306 | € 1,376,864 | € 1,598,151 | € 1,680,736 | ▲ 5% |
| Profit after taxes | € 14,723 | € 69,794 | € 116,416 | € -29,736 | ▼ € 146,152 |
| Equity | € 777,253 | € 837,773 | € 1,071,386 | € 1,029,376 | ▼ 4% |
| Total debts | € 437,933 | € 587,399 | € 550,064 | € 527,310 | ▼ 4% |
| Cash | € 393,003 | € 576,804 | € 759,655 | € 706,308 | ▼ 7% |
| Land & buildings | € 556,069 | € 548,924 | € 526,767 | € 504,609 | ▼ 4% |
| Retained profit | € 667,395 | € 737,189 | € 853,605 | € 823,869 | ▼ 3% |
| Bank debt | € 239,956 | € 330,921 | € 306,301 | € 278,648 | ▼ 9% |
| Balance sheet total | € 1,215,186 | € 1,425,172 | € 1,621,451 | € 1,556,686 | ▼ 4% |
| Employees (FTE) | 17.4 | 18.5 | 20.2 | 20.8 | ▲ 0.6 |
Key figures of ITHAKA, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ITHAKA?
What happened at ITHAKA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 29,736 (▼ € 146,152 vs 2024). Source: NBB ↗
- Wilfried Moutton stepped down as director. NBB
- Johan Lowyck stepped down as director. NBB
- Patrick Roels became a director. NBB
- Wim Vermeire became a director. NBB
- New establishment in Oostende. KBO
- New establishment in Oostende. KBO
- Dirk Sabbe became a director. NBB
In short
From € 14,723 profit in 2022 to € 29,736 loss in 2025.
Paid € 5,952 in corporate taxes since 2022.
Best year ever: 2024, with € 116,416 profit.
On average € 80,800 of value added per employee in 2025.
Management
Behind ITHAKA are Bart Sabbe, Dirk Sabbe, Annick Goes, Luc Dewilde, Patrick Roels and Ann Decorte. Bart Sabbe is also behind Start West-Vlaanderen - Begeleiding van personen met een verstandelijke beperking en hun gezin and Vlaams Instituut voor de Eerste Lijn.
Directors
According to the 2025 annual accounts
Bart Sabbe
Director
Also active at: Start West-Vlaanderen - Begeleiding van personen met een verstandelijke beperking en hun gezin, Vlaams Instituut voor de Eerste Lijn
Dirk Sabbe
Director
since 2022
Annick Goes
Director
since 2022
Luc Dewilde
Director
Patrick Roels
Chairman of the board
since 2024
Ann Decorte
Director
Armand Timmers
Director
since 2022
Erik Billiet
Director
Wim Vermeire
Vice-chairman of the board
since 2024
Wilfried Moutton
Director
· until 2026
Johan Lowyck
Director
· until 2026
Establishments
Establishment units
Physical locations of this company
Kaaistraat 35
8400 Oostende
Kaaistraat 37
8400 Oostende
Active since 25 April 2024
Kaaistraat 14
8400 Oostende
Active since 25 April 2024
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0448.387.646
- VAT number
- BE 0448.387.646
- Registered office
- Kaaistraat 35, 8400 Oostende
- Names & denominations
- ITHAKA
- Enterprise type
- Rechtspersoon
- Legal form
- Non-profit association
- Legal situation
- Normale toestand
- Start date
- 13 July 1992
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
Activiteiten van dagcentra voor volwassenen met een mentale handicap, met inbegrip van ambulante hulpverlening
Beschutte werkplaatsen
Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden
Cultureel onderwijs
Detailhandel in wijnen en geestrijke dranken
Detailhandel in dranken, algemeen assortiment
Eetgelegenheden met beperkte bediening