ACTIVE

National Utility Service

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Financial year 2025 · Closed on 31/12/2025

Net result134,6 k €+1 774,8 %over 1 year
Revenue562,9 k €+1,2 %over 1 year
Equity-351,1 k €+27,7 %over 1 year
Workforce3,6 ETP-14,3 %over 1 year

Identity

Source · BCE/KBO

National Utility Service is a Public limited company incorporated in 1968. Its main activity is: Management consultancy activities. Its registered office is in Zaventem. It employs on average 3,6 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0406.168.296
Incorporation
01/10/1968
Legal form
Public limited company
Registered office
Ikaroslaan 1
1930 Zaventem · FlandreSee on map
Contributed capital
117 749,42 €
Latest accounts
31/12/2025
Average workforce
3,6 ETP
Joint committees (2)
  • 200
  • 218
Signals
ProfitablePositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 20 filings

Trend over 20 financial years

20252024202320222021
Income statement
Revenue562,9 k €556,1 k €447,5 k €503,6 k €468,1 k €
EBITDA181,7 k €4,6 k €-83,8 k €-35 k €-17,6 k €
Operating result165,6 k €-8,8 k €-89,1 k €-40,8 k €-30,7 k €
Net result134,6 k €-8 k €-92,2 k €-32,1 k €-30,8 k €
Balance sheet
Equity-351,1 k €-485,8 k €-477,7 k €-385,5 k €-353,4 k €
Total assets208,4 k €105 k €105,6 k €148,8 k €135 k €
Cash12,9 k €8,8 k €19,7 k €35,8 k €8,5 k €
Debts557,2 k €584,8 k €575,8 k €523,2 k €475,5 k €
Other
Workforce3,6 ETP4,2 ETP3,5 ETP4,6 ETP4,0 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 26 ended

Active mandates

Gary J Soultanian

Director

Active
Richard Soultanian

Director

Active

Ended mandates

Richard Soultanian

Chairman of the board of directors · since 19 mai 2019

Ended
Allyn Rieke

Director · since 15 mai 2019 · until 15 octobre 2024

Ended
Allyn Rieke

Director · since 15 mai 2019 · until 15 mai 2025

Ended
Gary J Soultanian

Director · since 15 mai 2019 · until 15 mai 2025

Ended

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Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date31/08/202631/05/202514/07/202416/08/202319/08/202231/08/2021
General meeting15/05/202615/05/202515/05/202405/06/202315/05/202215/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202515/05/202631/08/2026DutchPDF
Full model31/12/202415/05/202531/05/2025DutchPDF
Full model31/12/202315/05/202414/07/2024DutchPDF
Full model31/12/202205/06/202316/08/2023DutchPDF
Full model31/12/202115/05/202219/08/2022DutchPDF
Full model31/12/202015/05/202131/08/2021DutchPDF
Full model31/12/201915/05/202029/10/2020DutchPDF
Full model31/12/201815/05/201919/07/2019DutchPDF
Full model31/12/201715/05/201809/07/2018DutchPDF
Full model31/12/201615/05/201730/06/2017DutchPDF
Full model31/12/201517/05/201630/06/2016DutchPDF
Full model31/12/201415/05/201506/08/2015DutchPDF
Full model31/12/201315/05/201429/08/2014DutchPDF
Full model31/12/201215/05/201327/08/2013DutchPDF
Full model31/12/201115/05/201221/12/2012DutchPDF
Full model31/12/201016/05/201130/05/2011DutchPDF
Full model31/12/200917/05/201022/06/2010DutchPDF
Full model31/12/200815/05/200922/06/2009DutchPDF
Full model31/12/200715/05/200819/06/2008DutchPDF
Full model31/12/200615/05/200714/06/2007DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 26 ended

Active mandates

Gary J Soultanian

Director

Active
Richard Soultanian

Director

Active

Ended mandates

Richard Soultanian

Chairman of the board of directors · since 19 mai 2019

Ended
Allyn Rieke

Director · since 15 mai 2019 · until 15 octobre 2024

Ended
Allyn Rieke

Director · since 15 mai 2019 · until 15 mai 2025

Ended
Gary J Soultanian

Director · since 15 mai 2019 · until 15 mai 2025

Ended

Ownership and network

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Try for free

Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Registered office17/10/2025
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates10/12/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates30/10/2019
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates21/12/2015
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates24/07/2013
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates18/09/2012
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates19/03/2012
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates04/04/2011
    ONTSLAGEN - BENOEMINGEN
    PDF

Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025134,6 k €↑
  2. 2024
    Annual accounts 2024-8 k €↑
  3. 2023
    Annual accounts 2023-92,2 k €↓
  4. 2022
    Annual accounts 2022-32,1 k €↓
  5. 2021
    Annual accounts 2021-30,8 k €↑
  6. 2020
    Annual accounts 2020-93,7 k €↑
  7. 2019
    Annual accounts 2019-207,1 k €↓
  8. 2018
    Annual accounts 2018-63,4 k €↑
  9. 2017
    Annual accounts 2017-88,4 k €↓
  10. 2016
    Annual accounts 201646,4 k €↑
  11. 2015
    Annual accounts 2015-51,9 k €↑
  12. 2014
    Annual accounts 2014-70,7 k €↓
  13. 2013
    Annual accounts 2013-18,4 k €↑
  14. 2012
    Annual accounts 2012-199,8 k €↓
  15. 2011
    Annual accounts 201136,4 k €↑
  16. 2010
    Annual accounts 2010-274,4 k €↓
  17. 2009
    Annual accounts 2009-125,6 k €↓
  18. 2008
    Annual accounts 200884,4 k €↓
  19. 2007
    Annual accounts 2007369,2 k €↑
  20. 2006
    Annual accounts 2006209,1 k €
  21. 01/10/1968
    IncorporationPublic limited company