ACTIVE

MINERVA MANAGEMENT

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Financial year 2025 · closed on 30/09/2025

Net result

-1 M €

-4.6% YoY

Gross margin

365,2 k €

+51.3% YoY

Equity

2,3 M €

-30.8% YoY

Workforce

0,3 ETP

-78.6% YoY

What does MINERVA MANAGEMENT do?

MINERVA MANAGEMENT is a Private limited company incorporated in 1968. Its main activity is: Management consultancy activities. Its registered office is in Sint-Martens-Latem. It employs on average 0,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0400.080.755

Incorporation

01/01/1968

Legal form

Private limited company

Registered office

Bogaertstraat 23
9830 Sint-Martens-Latem · FlandreSee on map

Contributed capital

61 800,00 €

Latest accounts

30/09/2025

Average workforce

0,3 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 82990Other business support service activities n.e.c.82990Other business support service activities n.e.c.

Joint committees (3)

100
100000
32301

Signals

Good liquidityPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2015		2014		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	365,2 k €	+51.3%	241,4 k €	-78.6%	1,1 M €	+130%	489,8 k €	+21.9%	401,7 k €	-26.4%	545,8 k €	+10.2%	495,4 k €	-36.2%	776 k €	+106%	377,4 k €		–		–		–		–		–		–		-4,9 k €	-1807%	286,9 €	+106%	-4,7 k €
EBITDA	329,3 k €	+92.4%	171,2 k €	-84.4%	1,1 M €	+134%	468,8 k €	+19.3%	393 k €	-26.9%	537,4 k €	+10.2%	487,7 k €	-36.9%	772,4 k €	+112%	365 k €	-26.2%	494,5 k €	+171%	182,2 k €	+1269%	-15,6 k €	-139%	-6,5 k €	+0.5%	-6,6 k €	-23.4%	-5,3 k €	-5.6%	-5 k €	-643%	-677,5 €	+88.1%	-5,7 k €
Operating result	-103 k €	+55.2%	-229,7 k €	-131%	729,6 k €	+658%	96,2 k €	+491%	-24,6 k €	-109%	277 k €	+165%	104,6 k €	+164%	-162,5 k €	+91.4%	-1,9 M €	-576%	399,5 k €	+1143%	-38,3 k €	-146%	-15,6 k €	-139%	-6,5 k €	+0.5%	-6,6 k €	-23.4%	-5,3 k €	-5.6%	-5 k €	-643%	-677,5 €	+88.1%	-5,7 k €
Net result	-1 M €	-4.6%	-990,6 k €	-607%	195,5 k €	+154%	77 k €	+168%	28,7 k €	-90.7%	307 k €	+273%	82,4 k €	+163%	-130,3 k €	+92.1%	-1,7 M €	-187%	1,9 M €	-22.0%	2,4 M €	+2237%	-114,1 k €	+7.5%	-123,4 k €	-128%	436,9 k €	+5398%	-8,2 k €	-46.8%	-5,6 k €	-631%	-768,7 €	+86.6%	-5,7 k €
Balance sheet
Equity	2,3 M €	-30.8%	3,4 M €	-22.8%	4,4 M €	+4.7%	4,2 M €	+1.9%	4,1 M €	+0.7%	4,1 M €	+11.8%	3,6 M €	+2.3%	3,5 M €	-0.2%	3,5 M €	-21.9%	4,5 M €	+71.9%	2,6 M €	+1177%	207,1 k €	-35.5%	321,2 k €	-27.7%	444,6 k €	+5700%	7,7 k €	-51.8%	15,9 k €	-26.1%	21,5 k €	-3.4%	22,3 k €
Total assets	41,6 M €	+67.2%	24,9 M €	+2.9%	24,2 M €	+4.8%	23,1 M €	-5.4%	24,4 M €	+36.5%	17,9 M €	+51.6%	11,8 M €	-5.6%	12,5 M €	-3.6%	13 M €	+44.1%	9 M €	-5.6%	9,5 M €	+213%	3 M €	+0.0%	3 M €	+0.0%	3 M €	+81.9%	1,7 M €	+5925%	27,8 k €	+19.5%	23,2 k €	-6.3%	24,8 k €
Cash	27,6 k €	+127%	12,2 k €	-90.2%	123,7 k €	-93.3%	1,9 M €	+11287%	16,3 k €	+227%	5 k €	-86.7%	37,4 k €	+229%	11,4 k €	+45.1%	7,8 k €	-88.0%	65,3 k €	+2179%	2,9 k €	+160%	1,1 k €	+23.8%	891,6 €	+125%	396,7 €	-99.2%	51,7 k €	+731%	6,2 k €	+247%	1,8 k €	-76.1%	7,5 k €
Debts	37,3 M €	+80.6%	20,6 M €	+8.1%	19,1 M €	+4.3%	18,3 M €	-7.0%	19,7 M €	+49.4%	13,2 M €	+78.9%	7,4 M €	-9.4%	8,1 M €	-3.6%	8,4 M €	+177%	3 M €	-45.4%	5,6 M €	+117%	2,6 M €	+4.7%	2,5 M €	+5.3%	2,3 M €	+39.7%	1,7 M €	+13947%	11,9 k €	+620%	1,6 k €	-34.7%	2,5 k €
Other
Workforce	0,3 ETP	-78.6%	1,4 ETP	+367%	0,3 ETP		–		–		–		0,1 ETP		–		–		–		–		–		–		–		–		–		–		–

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 30/09/2025 · 2 active · 20 ended

Active mandates

Pauline DE GRAEVE

Director · since 01 janvier 2026

Active

Dirk DE GRAEVE

Director · since 15 octobre 2020

Active

Ended mandates

Dirk De Graeve

Manager · since 31 mars 2014

Ended

Dirk DE GRAEVE

Director · since 31 mars 2014

Ended

CARINVEST

Managing director · since 26 juin 2013 · until 31 mars 2014 · 0832.383.031

Represented by Carlos De Graeve

Ended

CARINVEST

Managing director · since 26 juin 2013 · until 26 juin 2019 · 0832.383.031

Represented by Carlos De Graeve

Ended

At this address

Other companies at this address

Company	CBE no.
DDG INVEST● Active	0832.383.229
Don Carlos● Active	0713.638.304

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	26/03/2026	31/03/2025	28/03/2024	23/03/2023	23/03/2022	30/03/2021
General meeting	25/03/2026	26/03/2025	27/03/2024	22/03/2023	23/03/2022	24/03/2021
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
Abridged model	30/09/2025	25/03/2026	26/03/2026	Dutch	PDF
Abridged model	30/09/2024	26/03/2025	31/03/2025	Dutch	PDF
Abridged model	30/09/2023	27/03/2024	28/03/2024	Dutch	PDF
Abridged model	30/09/2022	22/03/2023	23/03/2023	Dutch	PDF
Abridged model	30/09/2021	23/03/2022	23/03/2022	Dutch	PDF
Abridged model	30/09/2020	24/03/2021	30/03/2021	Dutch	PDF
Abridged model	30/09/2019	25/03/2020	26/03/2020	Dutch	PDF
Abridged model	30/09/2018	03/04/2019	29/04/2019	Dutch	PDF
Abridged model	30/09/2017	28/03/2018	27/04/2018	Dutch	PDF
Full model	30/09/2016	22/03/2017	21/04/2017	Dutch	PDF
Full model	30/09/2015	23/03/2016	21/04/2016	Dutch	PDF
Full model	30/09/2014	25/03/2015	23/04/2015	Dutch	PDF
Full model	31/12/2012	26/06/2013	27/06/2013	Dutch	PDF
Full model	31/12/2011	27/06/2012	29/06/2012	Dutch	PDF
Full model	31/12/2010	22/06/2011	01/07/2011	Dutch	PDF
Full model	31/12/2009	23/06/2010	13/07/2010	Dutch	PDF
Abridged model	31/12/2008	24/06/2009	10/07/2009	Dutch	PDF
Abridged model	31/12/2007	25/06/2008	10/07/2008	Dutch	PDF
Abridged model	31/12/2006	27/06/2007	16/07/2007	Dutch	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 30/09/2025 · 2 active · 20 ended

Active mandates

Pauline DE GRAEVE

Director · since 01 janvier 2026

Active

Dirk DE GRAEVE

Director · since 15 octobre 2020

Active

Ended mandates

Dirk De Graeve

Manager · since 31 mars 2014

Ended

Dirk DE GRAEVE

Director · since 31 mars 2014

Ended

CARINVEST

Managing director · since 26 juin 2013 · until 31 mars 2014 · 0832.383.031

Represented by Carlos De Graeve

Ended

CARINVEST

Managing director · since 26 juin 2013 · until 26 juin 2019 · 0832.383.031

Represented by Carlos De Graeve

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates15/04/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/10/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - BENAMING - ONTSLAGEN - BENOEMINGEN
PDF
Registered office31/01/2018
MAATSCHAPPELIJKE ZETEL
PDF
Registered office16/06/2015
MAATSCHAPPELIJKE ZETEL
PDF
Mandates04/03/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/01/2014
BENAMING - DOEL - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Mandates23/08/2013
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates20/08/2010
ONTSLAGEN - BENOEMINGEN
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 2025-1 M €↓
2024
Annual accounts 2024-990,6 k €↓
2023
Annual accounts 2023195,5 k €↑
2022
Annual accounts 202277 k €↑
2021
Annual accounts 202128,7 k €↓
2020
Annual accounts 2020307 k €↑
2019
Annual accounts 201982,4 k €↑
2018
Annual accounts 2018-130,3 k €↑
2017
Annual accounts 2017-1,7 M €↓
2015
Annual accounts 20151,9 M €↓
2014
Annual accounts 20142,4 M €↑
2012
Annual accounts 2012-114,1 k €↑
2011
Annual accounts 2011-123,4 k €↓
2010
Annual accounts 2010436,9 k €↑
2009
Annual accounts 2009-8,2 k €↓
2008
Annual accounts 2008-5,6 k €↓
2007
Annual accounts 2007-768,7 €↑
2006
Annual accounts 2006-5,7 k €
01/01/1968
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

MINERVA MANAGEMENT

Overview

What does MINERVA MANAGEMENT do?

Trend over 18 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