ACTIVE

ROYAL GOLF CLUB DU SART-TILMAN, Société Coopérative

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Financial year 2025 · Closed on 31/12/2025

Net result198,8 k €+113,3 %over 1 year

Gross margin1,2 M €+11,3 %over 1 year

Equity3,1 M €+7,1 %over 1 year

Workforce10,1 ETP+8,6 %over 1 year

Identity

Source · BCE/KBO

ROYAL GOLF CLUB DU SART-TILMAN, Société Coopérative is a Cooperative society incorporated in 1968. Its main activity is: Gambling and betting activities. Its registered office is in Liège. It employs on average 10,1 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0403.979.264
Incorporation: 01/01/1968
Legal form: Cooperative society
Registered office: Route du Condroz 541
4031 Liège · WallonieSee on map
Contributed capital: 336 685,00 €
Latest accounts: 31/12/2025
Average workforce: 10,1 ETP

Activities (NACE)

92613Gambling and betting activities· main 92621Gambling and betting activities 93110Operation of sports facilities 93110Operation of sports facilities

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 20 filings

Trend over 18 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	1,2 M €	+11.3%	1,1 M €	-3.0%	1,1 M €	+10.8%	987,6 k €	-3.1%	1 M €
EBITDA	665,1 k €	+11.2%	598,1 k €	+13.0%	529,2 k €	+6.1%	498,8 k €	-6.4%	532,7 k €
Operating result	213 k €	+108%	102,1 k €	+34.4%	76 k €	+54.2%	49,3 k €	-58.3%	118 k €
Net result	198,8 k €	+113%	93,2 k €	+71.4%	54,4 k €	+361%	11,8 k €	-86.0%	84,5 k €
Balance sheet
Equity	3,1 M €	+7.1%	2,9 M €	+3.5%	2,8 M €	+1.0%	2,8 M €	+0.2%	2,8 M €
Total assets	6,5 M €	+2.6%	6,3 M €	+30.7%	4,8 M €	-5.5%	5,1 M €	+8.0%	4,7 M €
Cash	2,2 M €	+62.8%	1,3 M €	+34.2%	986,7 k €	-4.1%	1 M €	-0.2%	1 M €
Debts	1,4 M €	-6.8%	1,5 M €	-24.8%	2 M €	-10.3%	2,2 M €	+14.7%	1,9 M €
Other
Workforce	10,1 ETP	+8.6%	9,3 ETP	-2.1%	9,5 ETP	+4.4%	9,1 ETP	-9.9%	10,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

9 active · 22 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Jean-Louis RAMPEN	Director16/03/2019 → 20/03/2029
Jérôme GEENEN	Director29/03/2025 → 29/03/2029
Valérie LIQUET-RENARD	Director29/03/2025 → 29/03/2029
Frédéric SMEETS	Director16/03/2019 → 18/03/2027
Patrick RENARD	Chairman of the board of directors21/03/2015 → 18/03/2027Director18/03/2023 → 18/03/2027endedMandateended
Thierry COLLARD	Director18/03/2023 → 18/03/2027
Walter LUCCIOLI	Director21/03/2015 → 18/03/2027Mandateended
Vincent GOFFIOUL	Director11/12/2021 → 29/03/2029Mandateended
Catherine PONS	Director07/09/2020 → 16/03/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Valérie LIQUET	Director29/03/2025 → 29/03/2029
Georges LOIX	Director11/12/2021 → 15/03/2025
Marc DWELSHAUVERS	Director11/12/2021 → 15/03/2025
Alain BLOEMENDAL	Director16/03/2019 → 16/03/2021

Other companies at this address

Route du Condroz 541 4031 Liège

Company	CBE no.
ACADEMIE DE GOLF DU SART-TILMAN● Active	0720.853.817

Full financial information

Source · NBB

	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	01/01/2025	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	04/06/2026	20/06/2025	22/07/2024	15/05/2023	09/05/2022	19/01/2022
General meeting	21/03/2026	29/03/2025	16/03/2024	18/03/2023	26/03/2022	11/12/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	21/03/2026	04/06/2026	French	PDF
Abridged model	31/12/2024	29/03/2025	20/06/2025	French	PDF
Abridged model	31/12/2023	16/03/2024	22/07/2024	French	PDF
Abridged model	31/12/2022	18/03/2023	15/05/2023	French	PDF
Abridged model	31/12/2021	26/03/2022	09/05/2022	French	PDF
Abridged model	31/12/2020	11/12/2021	19/01/2022	French	PDF
Abridged model	31/12/2019	07/09/2020	29/09/2020	French	PDF
Abridged model	31/12/2018	16/03/2019	06/05/2019	French	PDF
Abridged model	31/12/2017	17/03/2018	03/04/2018	French	PDF
Abridged model	31/12/2016	18/03/2017	08/05/2017	French	PDF
Abridged model	31/12/2015	05/03/2016	25/08/2016	French	PDF
Abridged model	31/12/2014	21/03/2015	19/05/2015	French	PDF
Abridged model	31/12/2013	15/03/2014	01/05/2014	French	PDF
Abridged model	31/12/2012	16/03/2013	25/04/2013	French	PDF
Abridged model	31/12/2011	17/03/2012	11/06/2012	French	PDF
Abridged model	31/12/2010	19/03/2011	17/04/2011	French	PDF
Abridged model	31/12/2009	20/03/2010	19/04/2010	French	PDF
Abridged model	31/12/2008	21/03/2009	20/04/2009	French	PDF
Abridged model	31/12/2007	15/03/2008	14/07/2008	French	PDF
Abridged model	31/12/2006	17/03/2007	24/10/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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.

Board of directors

Source · NBB, accounts to 31/12/2025

9 active · 22 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Jean-Louis RAMPEN	Director16/03/2019 → 20/03/2029
Jérôme GEENEN	Director29/03/2025 → 29/03/2029
Valérie LIQUET-RENARD	Director29/03/2025 → 29/03/2029
Frédéric SMEETS	Director16/03/2019 → 18/03/2027
Patrick RENARD	Chairman of the board of directors21/03/2015 → 18/03/2027Director18/03/2023 → 18/03/2027endedMandateended
Thierry COLLARD	Director18/03/2023 → 18/03/2027
Walter LUCCIOLI	Director21/03/2015 → 18/03/2027Mandateended
Vincent GOFFIOUL	Director11/12/2021 → 29/03/2029Mandateended
Catherine PONS	Director07/09/2020 → 16/03/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Valérie LIQUET	Director29/03/2025 → 29/03/2029
Georges LOIX	Director11/12/2021 → 15/03/2025
Marc DWELSHAUVERS	Director11/12/2021 → 15/03/2025
Alain BLOEMENDAL	Director16/03/2019 → 16/03/2021

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates21/12/2023
MODIFICATION FORME JURIDIQUE - DENOMINATION - OBJET
PDF
Mandates14/06/2019
DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Mandates26/04/2017
DEMISSIONS, NOMINATIONS
PDF
Other06/04/2017
OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates22/07/2016
DEMISSIONS, NOMINATIONS
PDF
Capital / shares09/04/2014
CAPITAL, ACTIONS
PDF
Mandates10/05/2012
DEMISSIONS, NOMINATIONS
PDF
Capital / shares09/04/2003
CAPITAL, ACTIONS - ASSEMBLEE GENERALE - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings18 filings

Mandates

Valérie LIQUET-RENARD

Jean-Louis RAMPEN

Jérôme GEENEN

Walter LUCCIOLI

Thierry COLLARD

Frédéric SMEETS

Patrick RENARD

Vincent GOFFIOUL

Catherine PONS

Valérie LIQUET

Georges LOIX

Marc DWELSHAUVERS

and 8 more mandates

19681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026202720282029

ROYAL GOLF CLUB DU SART-TILMANRoyal Golf Club Sart Tilman

Route du Condroz 541, 4031 Angleur

Director

Chairman of the board of directorsDirector

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Route du Condroz 541, 4031 AngleurCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00136943

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
ROYAL GOLF CLUB DU SART-TILMAN, Société CoopérativeCurrent		CBE
ROYAL GOLF CLUB DU SART-TILMAN	accounts 2023 → 2025	Accounts 2025 · 2026-00136943
Royal Golf Club Sart Tilman	accounts 2021 → 2022	Accounts 2022 · 2023-00087802

Events

2025
Annual accounts 2025198,8 k €↑
2024
Annual accounts 202493,2 k €↑
2023
Annual accounts 202354,4 k €↑
2023
Name changeROYAL GOLF CLUB DU SART-TILMAN
2022
Annual accounts 202211,8 k €↓
2021
Annual accounts 202184,5 k €↑
2020
Annual accounts 202081,2 k €↓
2019
Annual accounts 201990,9 k €↑
2018
Annual accounts 201861,5 k €↓
2017
Annual accounts 2017112,7 k €↑
2016
Annual accounts 201692,9 k €↑
2015
Annual accounts 2015-77,4 k €↓
2014
Annual accounts 2014-71,7 k €↓
2013
Annual accounts 2013328,1 k €↑
2012
Annual accounts 2012255,2 k €↓
2011
Annual accounts 2011690,1 k €↑
2010
Annual accounts 201086,7 k €↑
2009
Annual accounts 200934 k €↓
2008
Annual accounts 200853,4 k €
01/01/1968
IncorporationCooperative society

ROYAL GOLF CLUB DU SART-TILMAN, Société Coopérative

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events