ACTIVE

Pullman Bus

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Financial year 2025 · closed on 31/07/2025

Net result

583,6 k €

-69.6% YoY

Gross margin

4,1 M €

-25.1% YoY

Equity

837,5 k €

+1.0% YoY

Workforce

46,3 ETP

+15.7% YoY

What does Pullman Bus do?

Pullman Bus is a Private limited company incorporated in 1968. Its main activity is: Urban and suburban passenger land transport. Its registered office is in Chaumont-Gistoux. It employs on average 46,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0401.496.856

Incorporation

23/01/1968

Legal form

Private limited company

Registered office

Rue de Corroy 10
1325 Chaumont-Gistoux · WallonieSee on map

Contributed capital

187 420,00 €

Latest accounts

31/07/2025

Average workforce

46,3 ETP

Activities (NACE)

49310Urban and suburban passenger land transport· main 49310Urban and suburban passenger land transport 60211Television programming and broadcasting activities 60212Television programming and broadcasting activities 49320Taxi operation 49330Other passenger land transport+5

Joint committees (2)

14001
200

Signals

ProfitablePositive cashflowPositive 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		2016		2015		2014		2013		2012		2011		2009		2008		2007
Income statement
Gross margin	4,1 M €	-25.1%	5,5 M €	+11.7%	4,9 M €	+61.6%	3 M €	-15.0%	3,6 M €	+27.4%	2,8 M €	+232%	846,4 k €	-54.8%	1,9 M €	+54.1%	1,2 M €	+6.1%	1,1 M €	-6.5%	1,2 M €	+5.7%	1,2 M €	-8.2%	1,3 M €	+0.2%	1,3 M €	+8.2%	1,2 M €	+0.5%	1,2 M €	-0.7%	1,2 M €	+15.6%	1 M €
EBITDA	1,5 M €	-45.9%	2,8 M €	+13.2%	2,4 M €	+120%	1,1 M €	-19.0%	1,4 M €	+25.2%	1,1 M €	+554%	166,7 k €	-76.6%	713,3 k €	+183%	251,6 k €	+49.7%	168,1 k €	-17.0%	202,4 k €	-16.6%	242,7 k €	-4.8%	255,1 k €	+118%	117,2 k €	-18.2%	143,4 k €	+171%	52,9 k €	-26.4%	71,8 k €	+174%	26,2 k €
Operating result	705,9 k €	-65.7%	2,1 M €	+11.6%	1,8 M €	+288%	475,7 k €	-39.5%	786,4 k €	+6.5%	738,2 k €	+10236%	-7,3 k €	-102%	434,5 k €	+397%	87,3 k €	+1986%	4,2 k €	-74.0%	16,1 k €	-58.7%	38,9 k €	-15.1%	45,8 k €	+686%	-7,8 k €	+65.1%	-22,4 k €	+59.8%	-55,7 k €	-3282%	-1,6 k €	+84.5%	-10,6 k €
Net result	583,6 k €	-69.6%	1,9 M €	+6.3%	1,8 M €	+328%	421,3 k €	-43.4%	744,7 k €	+33.5%	557,9 k €	+4287%	-13,3 k €	-103%	410,7 k €	+592%	59,3 k €	+1098%	-5,9 k €	-162%	9,6 k €	-50.5%	19,3 k €	+206%	-18,2 k €	-681%	3,1 k €	+477%	544 €	+76.1%	309 €	+47.1%	210 €	+31.3%	160 €
Balance sheet
Equity	837,5 k €	+1.0%	829 k €	+2.0%	812,5 k €	+0.3%	809,8 k €	+0.0%	809,4 k €	+0.6%	804,8 k €	+1.0%	796,9 k €	-1.6%	810,2 k €	+300%	202,8 k €	+41.3%	143,5 k €	-4.0%	149,4 k €	+6.8%	139,9 k €	+16.0%	120,5 k €	-14.1%	140,3 k €	+2.3%	137,1 k €	-90.4%	1,4 M €	+0.0%	1,4 M €	+0.0%	1,4 M €
Total assets	4,3 M €	-25.5%	5,7 M €	+4.6%	5,5 M €	+42.0%	3,9 M €	-16.7%	4,6 M €	+19.3%	3,9 M €	-11.7%	4,4 M €	+55.6%	2,8 M €	-23.3%	3,7 M €	+1.6%	3,6 M €	+20.2%	3 M €	+5.4%	2,9 M €	+1.1%	2,8 M €	-4.0%	3 M €	+11.0%	2,7 M €	+19.6%	2,2 M €	+2.1%	2,2 M €	+27.7%	1,7 M €
Cash	270,7 k €	-79.0%	1,3 M €	+147%	522,2 k €	+881%	53,2 k €	-59.9%	132,7 k €	-73.4%	497,9 k €	+311%	121,1 k €	-84.0%	755,9 k €	-50.7%	1,5 M €	+14.1%	1,3 M €	+20.7%	1,1 M €	+39.0%	801,2 k €	+20.1%	667 k €	-49.0%	1,3 M €	+61.4%	810,6 k €	-34.0%	1,2 M €	+118%	563,6 k €	-59.2%	1,4 M €
Debts	3,3 M €	-31.0%	4,7 M €	+4.3%	4,5 M €	+56.7%	2,9 M €	-21.7%	3,7 M €	+25.1%	2,9 M €	-10.7%	3,3 M €	+90.5%	1,7 M €	-9.9%	1,9 M €	+0.0%	1,9 M €	+50.3%	1,3 M €	+8.8%	1,2 M €	+1.1%	1,2 M €	-7.8%	1,3 M €	+6.0%	1,2 M €	+2300%	49,5 k €	-85.5%	341,7 k €	+349%	76,1 k €
Other
Workforce	46,3 ETP	+15.7%	40,0 ETP	+14.3%	35,0 ETP	-5.4%	37,0 ETP	-9.5%	40,9 ETP	+10.8%	36,9 ETP	+59.7%	23,1 ETP	-20.9%	29,2 ETP		–		24,8 ETP	-2.4%	25,4 ETP	+17.1%	21,7 ETP	+29.9%	16,7 ETP	-7.2%	18,0 ETP	0.0%	18,0 ETP	0.0%	18,0 ETP	+5.9%	17,0 ETP	0.0%	17,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/07/2025 · 1 active · 2 ended

Active mandates

DB DEVELOPPEMENT

Mandate · 0436.189.204

Active

Ended mandates

DB DEVELOPPEMENT

Manager · since 09 juillet 2018 · 0436.189.204

Represented by Walter DE REYS

Ended

Albert Hoc

Mandate

Ended

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	01/08/2024	01/08/2023	01/08/2022	01/08/2021	01/08/2020	01/08/2019
Closing of the financial year	31/07/2025	31/07/2024	31/07/2023	31/07/2022	31/07/2021	31/07/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	19/02/2026	26/02/2025	27/02/2024	27/02/2023	23/02/2022	15/02/2021
General meeting	29/12/2025	30/12/2024	22/12/2023	26/12/2022	23/12/2021	23/12/2020
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/07/2025	29/12/2025	19/02/2026	French	PDF
Abridged model	31/07/2024	30/12/2024	26/02/2025	French	PDF
Abridged model	31/07/2023	22/12/2023	27/02/2024	French	PDF
Abridged model	31/07/2022	26/12/2022	27/02/2023	French	PDF
Abridged model	31/07/2021	23/12/2021	23/02/2022	French	PDF
Abridged model	31/07/2020	23/12/2020	15/02/2021	French	PDF
Abridged modelCorrection	31/07/2019	13/01/2020	11/12/2020	French	PDF
Abridged model	31/07/2019	13/01/2020	31/01/2020	French	PDF
Abridged modelCorrection	31/12/2018	09/12/2020	11/12/2020	French	PDF
Abridged model	31/12/2018	25/09/2019	02/10/2019	French	PDF
Micro model	31/12/2017	29/08/2018	05/09/2018	French	PDF
Abridged model	31/12/2016	06/07/2018	23/07/2018	French	PDF
Abridged model	31/12/2015	01/09/2017	23/10/2017	French	PDF
Abridged model	31/12/2014	01/09/2017	23/10/2017	French	PDF
Abridged model	31/12/2013	01/09/2017	23/10/2017	French	PDF
Abridged model	31/12/2012	21/02/2014	25/02/2014	French	PDF
Abridged model	31/12/2011	21/02/2014	10/03/2014	French	PDF
Abridged model	31/12/2010	03/10/2012	04/12/2012	French	PDF
Abridged model	31/12/2009	24/02/2014	25/02/2014	French	PDF
Abridged model	31/12/2008	24/02/2014	25/02/2014	French	PDF
Abridged model	31/12/2007	24/02/2014	25/02/2014	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 31/07/2025 · 1 active · 2 ended

Active mandates

DB DEVELOPPEMENT

Mandate · 0436.189.204

Active

Ended mandates

DB DEVELOPPEMENT

Manager · since 09 juillet 2018 · 0436.189.204

Represented by Walter DE REYS

Ended

Albert Hoc

Mandate

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates05/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DIVERS - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Mandates13/03/2019
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Registered office06/09/2018
SIEGE SOCIAL
PDF
Mandates17/08/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates15/06/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates28/07/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates06/10/2014
DEMISSIONS, NOMINATIONS
PDF
Mandates17/09/2014
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 2025583,6 k €↓
2024
Annual accounts 20241,9 M €↑
2023
Annual accounts 20231,8 M €↑
2022
Annual accounts 2022421,3 k €↓
2021
Annual accounts 2021744,7 k €↑
2020
Annual accounts 2020557,9 k €↑
2019
Annual accounts 2019-13,3 k €↓
2018
Annual accounts 2018410,7 k €↑
2017
Annual accounts 201759,3 k €↑
2016
Annual accounts 2016-5,9 k €↓
2015
Annual accounts 20159,6 k €↓
2014
Annual accounts 201419,3 k €↑
2013
Annual accounts 2013-18,2 k €↓
2012
Annual accounts 20123,1 k €↑
2011
Annual accounts 2011544 €↑
2009
Annual accounts 2009309 €↑
2008
Annual accounts 2008210 €↑
2007
Annual accounts 2007160 €
23/01/1968
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

Pullman Bus

Overview

What does Pullman Bus do?

Trend over 18 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