ACTIVE

Sinep

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Financial year 2025 · closed on 31/12/2025

Net result

6,7 k €

-2.3% YoY

Gross margin

22,6 k €

-4.2% YoY

Equity

626,4 k €

+0.1% YoY

What does Sinep do?

Sinep is a Public limited company incorporated in 1964. Its main activity is: Engineering activities and related technical consultancy. Its registered office is in Uccle.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0400.055.813

Incorporation

16/01/1964

Legal form

Public limited company

Registered office

Avenue Jean et Pierre Carsoel 50
1180 Uccle · BruxellesSee on map

Contributed capital

600 397,74 €

Latest accounts

31/12/2025

Activities (NACE)

71121Engineering activities and related technical consultancy· main 71121Engineering activities and related technical consultancy 74203Photographic activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	22,6 k €	-4.2%	23,6 k €	-50.1%	47,2 k €	-20.9%	59,7 k €	+51.7%	39,4 k €	-13.8%	45,7 k €	+3.1%	44,3 k €	+40.6%	31,5 k €	+76.4%	17,9 k €	+303%	4,4 k €	-40.8%	7,5 k €	+3148%	-245,5 €	-100%	589,1 k €	+1178%	46,1 k €	-64.7%	130,7 k €	+212%	41,8 k €	+199%	-42,1 k €	-180%	52,5 k €	-1.3%	53,2 k €	-10.3%	59,3 k €
EBITDA	17 k €	-11.1%	19,2 k €	-54.4%	42 k €	-22.2%	54,1 k €	+58.4%	34,1 k €	-15.7%	40,5 k €	+3.5%	39,1 k €	+46.6%	26,7 k €	+103%	13,1 k €	+853%	1,4 k €	-82.1%	7,7 k €	+194%	-8,1 k €	-102%	414,7 k €	+1061%	35,7 k €	-70.5%	121,2 k €	+267%	33 k €	+160%	-55,3 k €	-222%	45,5 k €	-7.2%	49 k €	-2.2%	50,1 k €
Operating result	9,2 k €	-0.9%	9,3 k €	-70.3%	31,3 k €	-32.4%	46,2 k €	+70.8%	27,1 k €	-19.6%	33,7 k €	-4.6%	35,3 k €	+61.1%	21,9 k €	+163%	8,3 k €	+347%	-3,4 k €	-163%	5,4 k €	+152%	-10,4 k €	-103%	412,7 k €	+1342%	28,6 k €	-72.4%	103,6 k €	+698%	13 k €	+116%	-80,5 k €	-668%	14,2 k €	+73.0%	8,2 k €	+58.5%	5,2 k €
Net result	6,7 k €	-2.3%	6,8 k €	-70.7%	23,2 k €	-35.7%	36,1 k €	+75.1%	20,6 k €	-20.1%	25,8 k €	+0.4%	25,7 k €	+54.9%	16,6 k €	+80.7%	9,2 k €	+301%	-4,6 k €	-220%	3,8 k €	+137%	-10,4 k €	-103%	400,6 k €	+17207%	2,3 k €	-97.7%	100,4 k €	+1174%	7,9 k €	+2.2%	7,7 k €	+49.7%	5,1 k €	+96.4%	2,6 k €	+260%	-1,6 k €
Balance sheet
Equity	626,4 k €	+0.1%	626,1 k €	+0.1%	625,7 k €	-50.3%	1,3 M €	+0.1%	1,3 M €	+0.1%	1,3 M €	+0.1%	1,3 M €	-6.8%	1,3 M €	+0.2%	1,3 M €	+0.7%	1,3 M €	-0.3%	1,3 M €	+0.3%	1,3 M €	-0.8%	1,3 M €	-30.1%	1,9 M €	+968%	180,2 k €	+0.2%	179,9 k €	+4.6%	172 k €	+3.8%	165,6 k €	+3.2%	160,5 k €	+2.0%	157,4 k €
Total assets	634,2 k €	-0.4%	636,7 k €	+0.8%	631,5 k €	-51.4%	1,3 M €	+2.0%	1,3 M €	+0.4%	1,3 M €	-0.4%	1,3 M €	-6.5%	1,4 M €	+0.9%	1,4 M €	-2.1%	1,4 M €	+1.2%	1,4 M €	+0.4%	1,4 M €	+0.2%	1,4 M €	-52.7%	2,9 M €	+286%	742,4 k €	+197%	250,1 k €	-8.7%	274,1 k €	-11.3%	308,9 k €	+1.9%	303,3 k €	-1.6%	308,2 k €
Cash	5,3 k €	-80.1%	26,4 k €	+35.1%	19,5 k €	-56.5%	44,9 k €	+28.9%	34,8 k €	+596%	5 k €	-61.6%	13 k €	+60.4%	8,1 k €	-81.9%	45 k €	+1244%	3,3 k €	-45.8%	6,2 k €	+34.3%	4,6 k €	+21.5%	3,8 k €	+110%	1,8 k €	-79.9%	9 k €	+138%	3,8 k €	-84.8%	24,8 k €	-6.0%	26,4 k €	+1.3%	26 k €	+446%	4,8 k €
Debts	7,8 k €	-26.7%	10,6 k €	+84.4%	5,8 k €	-85.8%	40,4 k €	+148%	16,3 k €	+22.3%	13,3 k €	-30.5%	19,2 k €	+17.8%	16,3 k €	+128%	7,2 k €	-84.2%	45,4 k €	+82.9%	24,8 k €	+38.3%	18 k €	+212%	5,8 k €	-99.4%	936,9 k €	+68.0%	557,7 k €	+749%	65,7 k €	-32.7%	97,5 k €	-25.5%	130,9 k €	-8.3%	142,8 k €	-5.3%	150,7 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 14 ended

Active mandates

FAS DEVELOPMENT

Managing director · since 07 septembre 2021 · until 19 mai 2027 · 0460.281.034

Represented by Frank Beuselinck

Active

Ended mandates

FAS DEVELOPMENT

Managing director · since 10 septembre 2021 · until 10 septembre 2027 · 0460.281.034

Ended

Gimac

Director · since 26 décembre 2018 · until 26 décembre 2024 · 0502.407.441

Represented by Sébastien RAEDEMAECKER

Ended

FAS DEVELOPMENT

Managing director · since 17 juin 2016 · until 30 septembre 2022 · 0460.281.034

Represented by Frank BEUSELINCK

Ended

BLACKREIT SERVICES

Director · since 01 janvier 2012 · until 31 décembre 2017 · 0839.741.965

Represented by Sébastien RAEDEMAECKER

Ended

At this address

Other companies at this address

Company	CBE no.
FAS DEVELOPMENT● Active	0460.281.034

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	27/07/2026	07/07/2025	24/09/2024	08/05/2023	21/06/2022	09/07/2021
General meeting	23/07/2026	21/05/2025	18/09/2024	05/05/2023	16/06/2022	01/07/2021
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
Abridged model	31/12/2025	23/07/2026	27/07/2026	French	PDF
Abridged model	31/12/2024	21/05/2025	07/07/2025	French	PDF
Abridged model	31/12/2023	18/09/2024	24/09/2024	French	PDF
Abridged model	31/12/2022	05/05/2023	08/05/2023	French	PDF
Abridged model	31/12/2021	16/06/2022	21/06/2022	French	PDF
Micro model	31/12/2020	01/07/2021	09/07/2021	French	PDF
Micro model	31/12/2019	29/05/2020	06/07/2020	French	PDF
Micro model	31/12/2018	28/06/2019	29/07/2019	French	PDF
Micro model	31/12/2017	09/06/2018	10/08/2018	French	PDF
Micro model	31/12/2016	14/06/2017	28/08/2017	French	PDF
Abridged model	31/12/2015	17/05/2016	15/09/2016	French	PDF
Abridged model	31/12/2014	20/05/2015	19/08/2015	French	PDF
Abridged model	31/12/2013	21/05/2014	31/07/2014	French	PDF
Abridged model	31/12/2012	29/05/2013	31/05/2013	French	PDF
Abridged model	31/12/2011	16/05/2012	26/06/2012	French	PDF
Abridged model	31/12/2010	25/06/2011	07/07/2011	French	PDF
Abridged model	31/12/2009	06/05/2010	02/07/2010	French	PDF
Abridged model	31/12/2008	07/05/2009	20/07/2009	French	PDF
Abridged model	31/12/2007	02/05/2008	02/07/2008	French	PDF
Abridged model	31/12/2006	01/05/2007	21/06/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 1 active · 14 ended

Active mandates

FAS DEVELOPMENT

Managing director · since 07 septembre 2021 · until 19 mai 2027 · 0460.281.034

Represented by Frank Beuselinck

Active

Ended mandates

FAS DEVELOPMENT

Managing director · since 10 septembre 2021 · until 10 septembre 2027 · 0460.281.034

Ended

Gimac

Director · since 26 décembre 2018 · until 26 décembre 2024 · 0502.407.441

Represented by Sébastien RAEDEMAECKER

Ended

FAS DEVELOPMENT

Managing director · since 17 juin 2016 · until 30 septembre 2022 · 0460.281.034

Represented by Frank BEUSELINCK

Ended

BLACKREIT SERVICES

Director · since 01 janvier 2012 · until 31 décembre 2017 · 0839.741.965

Represented by Sébastien RAEDEMAECKER

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring12/07/2023
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring26/04/2023
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates14/09/2021
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates18/06/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates08/02/2018
DEMISSIONS, NOMINATIONS
PDF
Registered office19/11/2013
SIEGE SOCIAL
PDF
Capital / shares17/12/2012
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates16/01/2012
DEMISSIONS, NOMINATIONS
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 20256,7 k €↓
2024
Annual accounts 20246,8 k €↓
2023
Annual accounts 202323,2 k €↓
2022
Annual accounts 202236,1 k €↑
2021
Annual accounts 202120,6 k €↓
2020
Annual accounts 202025,8 k €↑
2019
Annual accounts 201925,7 k €↑
2018
Annual accounts 201816,6 k €↑
2017
Annual accounts 20179,2 k €↑
2016
Annual accounts 2016-4,6 k €↓
2015
Annual accounts 20153,8 k €↑
2014
Annual accounts 2014-10,4 k €↓
2013
Annual accounts 2013400,6 k €↑
2012
Annual accounts 20122,3 k €↓
2011
Annual accounts 2011100,4 k €↑
2010
Annual accounts 20107,9 k €↑
2009
Annual accounts 20097,7 k €↑
2008
Annual accounts 20085,1 k €↑
2007
Annual accounts 20072,6 k €↑
2006
Annual accounts 2006-1,6 k €
16/01/1964
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

Sinep

Overview

What does Sinep do?

Trend over 20 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