On this page you can find more information on our financial performance, targets, vision and plans.
In the face of challenging market conditions and the complexities of international expansion, Qualico has successfully transitioned from a startup to a growing scale-up
Key financial highlights
2025 Revenue Target
150% growth from 2024
Gross Margin
Premium pricing and strong COGS negotiations
Operating Margin 2025
Significant improvement from 3% in 2023
EBITDA by 2027
Achieving strong valuations in the near future
Qualico's financial projections through 2028 paint a picture of sustained growth and rapidly improving profitability.
The company is positioned to maintain its rapid expansion while simultaneously improving operational efficiency.
With operating margins projected to reach 18% by 2028 and EBITDA exceeding €1M, Qualico demonstrates a path to both scale, profitability and life changing valuations.
The founder as a self-taught 'CFO '
Succesfully navigated the following financial projects:
- Government loans - PMV
- Traditional banks - business loans
- Business angel rounds
- Government Grants
In the D2C physical goods sector, managing cashflows while growing aggressively is a serious challenge that requires continuous attention.
P&L Chart (kEUR)
Please click the button below to find our official company results in PDF.
Cashflow Analysis
Operating Cashflow (kEUR)
Financing Cashflow (kEUR)
Investing Cashflow (BAUBAU) (kEUR)
Netto Cashflow (kEUR)
Cumulative Cash Position (kEUR)
CAP TABLE
Extra: Our approach to financial planning
Currently our financial planning is done in MS Excel.
Inputs
- Individual month over month sales forecast for up to 30 product in 15 countries
- The sales forecast is synchronised monthly with our inventory management software.
- Dynamic unit economics simulations per month per product (unit sales, pricing, returns, COGS, commissions, storage, ads, PPS)
- Detailed overhead (incl. VAT for cashflow and excl. VAT for P&L)
Calculations
- Power queries
Outputs
- Interactive pivot table charts and graphs
- Month over month forecast on P&L, cash and balance sheet for 2025-2029
Access to our financial plan in MS Excel can be requested via email to tim@qualico.be
Thank you.
Phone: +32 472 19 12 42
Email: tim@qualico.com
Websites:
www.puzzlup.be
www.qualico.be
Address: Antwerp, Belgium
Welcome to the Qualico financial page.