ACTIVE

MOULAN SA

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Financial year 2025 · Closed on 31/12/2025

Net result305,5 k €+2,4 %over 1 year

Revenue15,6 M €+2,1 %over 1 year

Equity4,8 M €-0,2 %over 1 year

Workforce35,9 ETP+5,9 %over 1 year

Identity

Source · BCE/KBO

MOULAN SA is a Public limited company incorporated in 1949. Its main activity is: Wholesale of hardware, plumbing and heating equipment and supplies. Its registered office is in Herve. It employs on average 35,9 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0405.844.832
Incorporation: 10/12/1949
Legal form: Public limited company
Registered office: Avenue du Parc 28
4650 Herve · WallonieSee on map
Contributed capital: 100 000,00 €
Latest accounts: 31/12/2025
Average workforce: 35,9 ETP

Activities (NACE)

46742Wholesale of hardware, plumbing and heating equipment and supplies· main 46842Wholesale trade, except of motor vehicles and motorcycles 51542Air transport

Joint committees (3)

14904
200
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 21 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	15,6 M €	+2.1%	15,3 M €	-4.2%	15,9 M €	-5.2%	16,8 M €	+27.0%	13,2 M €
EBITDA	710,8 k €	+4.7%	679,1 k €	-25.7%	914,2 k €	-52.4%	1,9 M €	+71.6%	1,1 M €
Operating result	351,5 k €	-6.6%	376,5 k €	-39.5%	622,2 k €	-63.2%	1,7 M €	+75.9%	960,7 k €
Net result	305,5 k €	+2.4%	298,3 k €	-40.3%	499,6 k €	-62.5%	1,3 M €	+65.3%	806,3 k €
Balance sheet
Equity	4,8 M €	-0.2%	4,8 M €	+0.9%	4,7 M €	+1.0%	4,7 M €	+17.2%	4 M €
Total assets	9,5 M €	+6.5%	8,9 M €	-3.6%	9,2 M €	+5.2%	8,8 M €	+19.6%	7,3 M €
Cash	274,7 k €	+35.3%	203,1 k €	-19.6%	252,6 k €	-74.8%	1 M €	+181%	356,9 k €
Debts	4,7 M €	+14.4%	4,1 M €	-8.3%	4,5 M €	+9.8%	4,1 M €	+23.0%	3,3 M €
Other
Workforce	35,9 ETP	+5.9%	33,9 ETP	-4.2%	35,4 ETP	+4.1%	34,0 ETP	-3.1%	35,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

6 active · 5 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Luc MOULAN	Director18/06/2013 → 16/06/2031
4U Invest0768.363.625Represented by Marc Leclercq	Director15/06/2021 → 15/06/2027
JAB SOLUTIONS0768.307.997Represented by Bernard GILLARD	Director15/06/2021 → 15/06/2027
JALOC INVEST0767.661.265Represented by Raphaël DEGEY	Managing director15/06/2021 → 15/06/2027
Etienne BONNIVER	Director15/06/2020 → 15/06/2026
Philippe DEGEY	Chairman of the board of directors15/06/2020 → 15/06/2026Director10/01/2002 → 2020 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Etienne BONIVER	Director15/06/2020 → 2023 accounts
Raphaël Degey	Managing director14/06/2019 → 2020 accounts
Jean Degey	Director16/06/2017 → 2020 accounts

Other companies at this address

Avenue du Parc 28 4650 Herve

Company	CBE no.
MM Group● Active	0768.483.686
Moulan Impact● Active	1006.391.628
RMB IMMO● Active	0784.730.295

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	24/07/2026	13/08/2025	01/08/2024	12/07/2023	04/07/2022	29/06/2021
General meeting	18/06/2026	13/06/2025	14/06/2024	15/06/2023	15/06/2022	15/06/2021
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, 21 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	18/06/2026	24/07/2026	French	PDF
Full model	31/12/2024	13/06/2025	13/08/2025	French	PDF
Full model	31/12/2023	14/06/2024	01/08/2024	French	PDF
Full model	31/12/2022	15/06/2023	12/07/2023	French	PDF
Full model	31/12/2021	15/06/2022	04/07/2022	French	PDF
Full model	31/12/2020	15/06/2021	29/06/2021	French	PDF
Full model	31/12/2019	15/06/2020	01/07/2020	French	PDF
Full model	31/12/2018	14/06/2019	16/07/2019	French	PDF
Full model	31/12/2017	15/06/2018	05/07/2018	French	PDF
Full modelCorrection	31/12/2016	15/06/2017	28/10/2017	French	PDF
Full model	31/12/2016	15/06/2017	27/06/2017	French	PDF
Full model	31/12/2015	15/06/2016	22/06/2016	French	PDF
Full model	31/12/2014	16/06/2015	24/06/2015	French	PDF
Full model	31/12/2013	17/06/2014	01/07/2014	French	PDF
Full model	31/12/2012	18/06/2013	26/06/2013	French	PDF
Full model	31/12/2011	15/06/2012	19/06/2012	French	PDF
Full model	31/12/2010	15/06/2011	08/07/2011	French	PDF
Full model	31/12/2009	15/06/2010	30/06/2010	French	PDF
Full model	31/12/2008	15/06/2009	01/07/2009	French	PDF
Full model	31/12/2007	23/06/2008	07/07/2008	French	PDF
Full model	31/12/2006	15/06/2007	27/06/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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

6 active · 5 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Luc MOULAN	Director18/06/2013 → 16/06/2031
4U Invest0768.363.625Represented by Marc Leclercq	Director15/06/2021 → 15/06/2027
JAB SOLUTIONS0768.307.997Represented by Bernard GILLARD	Director15/06/2021 → 15/06/2027
JALOC INVEST0767.661.265Represented by Raphaël DEGEY	Managing director15/06/2021 → 15/06/2027
Etienne BONNIVER	Director15/06/2020 → 15/06/2026
Philippe DEGEY	Chairman of the board of directors15/06/2020 → 15/06/2026Director10/01/2002 → 2020 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Etienne BONIVER	Director15/06/2020 → 2023 accounts
Raphaël Degey	Managing director14/06/2019 → 2020 accounts
Jean Degey	Director16/06/2017 → 2020 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates09/10/2026
Nominations
PDF
Mandates23/12/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates23/09/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates30/06/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS - OBJET - DEMISSIONS, NOMINATIONS
PDF
Mandates06/01/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates28/09/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates11/08/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates13/07/2021
DEMISSIONS, NOMINATIONS
PDF

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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

Incorporation1949

Name

Registered office

Annual accounts

Filings20 filings

Mandates

Luc MOULAN

JALOC INVEST

JAB SOLUTIONS

4U Invest

Etienne BONNIVER

Philippe DEGEY

Etienne BONIVER

Raphaël Degey

Jean DEGEY

René Moulan

Bertha MOULAN

196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025202620272028202920302031

MOULAN SA

Avenue du Parc 28, 4650 Herve

Director

Managing director

Director

Chairman of the board of directorsDirector

Director

Managing directorDirector

DirectorManaging director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Avenue du Parc 28, 4650 HerveCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00326060

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
MOULAN SACurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00326060

Events

2025
Annual accounts 2025305,5 k €↑
2024
Annual accounts 2024298,3 k €↓
2023
Annual accounts 2023499,6 k €↓
2022
Annual accounts 20221,3 M €↑
2021
Annual accounts 2021806,3 k €↑
2020
Annual accounts 2020282,5 k €↓
2019
Annual accounts 2019359,5 k €↓
2018
Annual accounts 2018376,1 k €↓
2017
Annual accounts 2017409,2 k €↑
2016
Annual accounts 2016126,8 k €↓
2015
Annual accounts 2015167,2 k €↑
2014
Annual accounts 2014158,2 k €↓
2013
Annual accounts 2013210 k €↓
2012
Annual accounts 2012490,6 k €↑
2011
Annual accounts 2011471,9 k €↑
2010
Annual accounts 2010394,7 k €↓
2009
Annual accounts 2009592,5 k €↑
2008
Annual accounts 2008462 k €↓
2007
Annual accounts 2007495,8 k €↑
2006
Annual accounts 2006355,3 k €
10/12/1949
IncorporationPublic limited company

MOULAN SA

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