ACTIVE

CIACO

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Financial year 2025 · closed on 31/12/2025

Net result

-171,5 k €

+49.2% YoY

Revenue

4,9 M €

+5.7% YoY

Equity

393,9 k €

-29.3% YoY

Workforce

25,9 ETP

-0.8% YoY

What does CIACO do?

CIACO is a Cooperative society incorporated in 1970. Its registered office is in Ottignies-Louvain-la-Neuve. It employs on average 25,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0407.236.187

Incorporation

01/07/1970

Legal form

Cooperative society

Registered office

Grand-Rue 2 box 14
1348 Ottignies-Louvain-la-Neuve · WallonieSee on map

Contributed capital

464 017,00 €

Latest accounts

31/12/2025

Average workforce

25,9 ETP

Joint committees (4)

Signals

Positive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2006
Income statement
Revenue	4,9 M €	+5.7%	4,6 M €	+3.3%	4,5 M €	+5.4%	4,2 M €	-2.0%	4,3 M €	+5.4%	4,1 M €	-15.8%	4,9 M €	+0.9%	4,8 M €	+0.4%	4,8 M €	-3.8%	5 M €	-2.4%	5,1 M €	+3.2%	5 M €	+2.4%	4,8 M €	+2.4%	4,7 M €	+9.5%	4,3 M €	-2.4%	4,4 M €	+5.8%	4,2 M €	+7.4%	3,9 M €	+12.2%	3,5 M €
EBITDA	77 k €	+213%	-68,1 k €	+71.6%	-240,1 k €	-26.0%	-190,6 k €	-221%	157,4 k €	-15.7%	186,8 k €	-24.9%	248,6 k €	+0.7%	247 k €	-1.7%	251,3 k €	-19.1%	310,5 k €	-8.6%	339,8 k €	-8.6%	371,7 k €	+24.8%	297,8 k €	-12.8%	341,5 k €	+5.7%	323,1 k €	-16.4%	386,6 k €	+4.3%	370,6 k €	-1.1%	374,9 k €	+55.7%	240,8 k €
Operating result	-134 k €	+56.0%	-304,6 k €	+31.4%	-444,2 k €	-11.5%	-398,3 k €	-886%	-40,4 k €	-93.6%	-20,9 k €	-148%	43,9 k €	+22.4%	35,9 k €	-42.3%	62,2 k €	-14.9%	73,2 k €	-11.1%	82,3 k €	-38.1%	132,9 k €	+51.2%	87,9 k €	-27.0%	120,4 k €	+0.4%	119,9 k €	-6.6%	128,4 k €	+58.0%	81,3 k €	-12.8%	93,2 k €	+264%	25,6 k €
Net result	-171,5 k €	+49.2%	-337,4 k €	+27.6%	-466,4 k €	-16.8%	-399,3 k €	-883%	-40,6 k €	-82.7%	-22,2 k €	-183%	26,6 k €	-17.1%	32,1 k €	-24.9%	42,8 k €	-12.0%	48,6 k €	+11.1%	43,8 k €	-51.7%	90,6 k €	+82.4%	49,6 k €	-32.3%	73,3 k €	+16.7%	62,8 k €	-35.7%	97,7 k €	+46.5%	66,7 k €	+134%	28,6 k €	+979%	2,6 k €
Balance sheet
Equity	393,9 k €	-29.3%	556,7 k €	-37.2%	886,1 k €	-34.1%	1,3 M €	-22.6%	1,7 M €	-2.0%	1,8 M €	-1.3%	1,8 M €	+1.5%	1,8 M €	+1.7%	1,7 M €	+2.4%	1,7 M €	+4.0%	1,6 M €	+2.8%	1,6 M €	+6.6%	1,5 M €	+3.5%	1,4 M €	+5.4%	1,4 M €	+5.0%	1,3 M €	+8.3%	1,2 M €	+6.2%	1,1 M €	+1.4%	1,1 M €
Total assets	2,1 M €	-4.3%	2,2 M €	-6.5%	2,3 M €	-8.0%	2,5 M €	-1.2%	2,5 M €	-5.4%	2,7 M €	-1.1%	2,7 M €	-0.9%	2,8 M €	+5.0%	2,6 M €	+1.6%	2,6 M €	-5.7%	2,7 M €	-4.7%	2,9 M €	+2.8%	2,8 M €	+0.6%	2,8 M €	+4.4%	2,7 M €	-6.9%	2,9 M €	-0.8%	2,9 M €	-0.5%	2,9 M €	-9.9%	3,2 M €
Cash	268,4 k €	+68.8%	159 k €	-48.5%	308,9 k €	-17.2%	372,9 k €	-18.2%	455,7 k €	-0.3%	456,9 k €	-0.9%	461,1 k €	+1.8%	452,9 k €	+58.8%	285,1 k €	-23.6%	373,1 k €	+32.4%	281,8 k €	-19.3%	349 k €	+153%	138 k €	-11.1%	155,3 k €	+27.7%	121,7 k €	-41.6%	208,5 k €	-10.2%	232,1 k €	+250%	66,4 k €	-71.4%	232,2 k €
Debts	1,6 M €	+4.9%	1,5 M €	+11.7%	1,4 M €	+23.3%	1,1 M €	+50.0%	739,1 k €	-11.3%	833,5 k €	-1.5%	846,2 k €	-6.2%	901,7 k €	+11.7%	807,1 k €	-1.3%	817,8 k €	-21.5%	1 M €	-13.8%	1,2 M €	+0.6%	1,2 M €	-2.4%	1,2 M €	+1.7%	1,2 M €	-17.3%	1,5 M €	-7.2%	1,6 M €	-4.9%	1,7 M €	-17.6%	2 M €
Other
Workforce	25,9 ETP	-0.8%	26,1 ETP	-10.6%	29,2 ETP	-5.8%	31,0 ETP	-5.2%	32,7 ETP	-1.8%	33,3 ETP	+1.2%	32,9 ETP	+0.6%	32,7 ETP	+1.9%	32,1 ETP	-2.4%	32,9 ETP	+13.1%	29,1 ETP	-4.0%	30,3 ETP	+3.8%	29,2 ETP	+5.8%	27,6 ETP	-4.2%	28,8 ETP	-4.3%	30,1 ETP	+2.7%	29,3 ETP	+5.4%	27,8 ETP	+12.6%	24,7 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 31/12/2025 · 4 active · 51 ended

Active mandates

Patrick XHONNEUX

Chairman of the board of directors · since 26 juin 2024 · until 26 juin 2027

Active

Sylvie DELATTRE

Director · since 26 juin 2024 · until 26 juin 2027

Active

Claire VAN GRUNDELBEKE

Director · since 28 juin 2023 · until 28 juin 2026

Active

François BRAGHINI

Director · since 23 juin 2022 · until 25 juin 2028

Active

Ended mandates

François BRAGHINI

Director · since 23 juin 2022 · until 23 juin 2025

Ended

François BRAGHINI

Director · since 23 juin 2022 · until 25 juin 2025

Ended

Olivier ANDRE

Director · since 23 juin 2022 · until 23 juin 2025

Ended

Olivier ANDRE

Director · since 23 juin 2022 · until 25 juin 2025

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	01/01/2025	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	14/07/2026	23/07/2025	27/07/2024	28/07/2023	31/07/2022	20/07/2021
General meeting	24/06/2026	25/06/2025	26/06/2024	28/06/2023	23/06/2022	23/06/2021
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

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	31/12/2025	24/06/2026	14/07/2026	French	PDF
Abridged model	31/12/2024	25/06/2025	23/07/2025	French	PDF
Abridged model	31/12/2023	26/06/2024	27/07/2024	French	PDF
Abridged model	31/12/2022	28/06/2023	28/07/2023	French	PDF
Abridged model	31/12/2021	23/06/2022	31/07/2022	French	PDF
Abridged model	31/12/2020	23/06/2021	20/07/2021	French	PDF
Abridged model	31/12/2019	24/06/2020	25/07/2020	French	PDF
Abridged model	31/12/2018	26/06/2019	28/07/2019	French	PDF
Abridged modelCorrection	31/12/2017	26/06/2018	05/03/2019	French	PDF
Abridged model	31/12/2017	26/06/2018	27/07/2018	French	PDF
Abridged model	31/12/2016	28/06/2017	28/07/2017	French	PDF
Abridged model	31/12/2015	23/06/2016	04/08/2016	French	PDF
Abridged model	31/12/2014	25/06/2015	23/07/2015	French	PDF
Abridged model	31/12/2013	26/06/2014	23/07/2014	French	PDF
Abridged model	31/12/2012	28/06/2013	30/07/2013	French	PDF
Abridged model	31/12/2011	27/06/2012	24/07/2012	French	PDF
Abridged model	31/12/2010	28/06/2011	13/07/2011	French	PDF
Abridged model	31/12/2009	29/06/2010	19/07/2010	French	PDF
Abridged model	31/12/2008	23/06/2009	17/07/2009	French	PDF
Abridged model	31/12/2007	25/06/2008	29/08/2008	French	PDF
Abridged model	31/12/2006	28/06/2007	18/07/2007	French	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 31/12/2025 · 4 active · 51 ended

Active mandates

Patrick XHONNEUX

Chairman of the board of directors · since 26 juin 2024 · until 26 juin 2027

Active

Sylvie DELATTRE

Director · since 26 juin 2024 · until 26 juin 2027

Active

Claire VAN GRUNDELBEKE

Director · since 28 juin 2023 · until 28 juin 2026

Active

François BRAGHINI

Director · since 23 juin 2022 · until 25 juin 2028

Active

Ended mandates

François BRAGHINI

Director · since 23 juin 2022 · until 23 juin 2025

Ended

François BRAGHINI

Director · since 23 juin 2022 · until 25 juin 2025

Ended

Olivier ANDRE

Director · since 23 juin 2022 · until 23 juin 2025

Ended

Olivier ANDRE

Director · since 23 juin 2022 · until 25 juin 2025

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/01/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates07/01/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates30/05/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates03/04/2023
MODIFICATION FORME JURIDIQUE - DENOMINATION - ASSEMBLEE GENERALE
PDF
Mandates03/04/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates23/03/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates03/06/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates21/12/2020
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 2025-171,5 k €↑
2024
Annual accounts 2024-337,4 k €↑
2023
Annual accounts 2023-466,4 k €↓
2022
Annual accounts 2022-399,3 k €↓
2021
Annual accounts 2021-40,6 k €↓
2021
Name changeCIACO
2020
Annual accounts 2020-22,2 k €↓
2019
Annual accounts 201926,6 k €↓
2018
Annual accounts 201832,1 k €↓
2017
Annual accounts 201742,8 k €↓
2016
Annual accounts 201648,6 k €↑
2015
Annual accounts 201543,8 k €↓
2014
Annual accounts 201490,6 k €↑
2013
Annual accounts 201349,6 k €↓
2012
Annual accounts 201273,3 k €↑
2011
Annual accounts 201162,8 k €↓
2010
Annual accounts 201097,7 k €↑
2009
Annual accounts 200966,7 k €↑
2008
Annual accounts 200828,6 k €↑
2006
Annual accounts 20062,6 k €
2006
Name changeCentrale d'Impression et d'Achat en Coopérative
01/07/1970
IncorporationCooperative society

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

CIACO

Overview

What does CIACO do?

Trend over 19 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