ACTIVE

Appeldoorn & Associés

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Financial year 2025 · Closed on 31/12/2025

Net result484,2 k €+61,7 %over 1 year

Gross margin2 M €+37,9 %over 1 year

Equity1 M €+138,2 %over 1 year

Workforce17,0 ETP+44,1 %over 1 year

Identity

Source · BCE/KBO

Appeldoorn & Associés is a Public limited company incorporated in 1975. Its main activity is: Other activities auxiliary to financial services, except insurance and pension funding. Its registered office is in Seraing. It employs on average 17,0 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0415.017.567
Incorporation: 01/01/1975
Legal form: Public limited company
Registered office: Rue de Rotheux 42
4100 Seraing · WallonieSee on map
Contributed capital: 86 892,42 €
Latest accounts: 31/12/2025
Average workforce: 17,0 ETP

Activities (NACE)

66191Other activities auxiliary to financial services, except insurance and pension funding· main 66191Other activities auxiliary to financial services, except insurance and pension funding 66199Other activities auxiliary to financial services, except insurance and pension funding 66199Other activities auxiliary to financial services, except insurance and pension funding 67130Autres auxiliaires financiers

Joint committees (1)

Contacts

2 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 20 filings

Trend over 19 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	2 M €	+37.9%	1,5 M €	+16.0%	1,3 M €	-5.0%	1,3 M €	+4.0%	1,3 M €
EBITDA	939,4 k €	+51.1%	621,8 k €	+28.8%	482,7 k €	-12.9%	554,1 k €	-7.9%	601,7 k €
Operating result	685,7 k €	+53.6%	446,3 k €	+53.7%	290,4 k €	-20.2%	363,9 k €	-27.4%	501 k €
Net result	484,2 k €	+61.7%	299,4 k €	+82.7%	163,9 k €	-25.8%	220,9 k €	-40.0%	368,2 k €
Balance sheet
Equity	1 M €	+138%	426,1 k €	-0.2%	426,8 k €	-56.6%	982,9 k €	+2.2%	962 k €
Total assets	2,2 M €	+49.4%	1,5 M €	-25.8%	2 M €	-5.3%	2,1 M €	-1.6%	2,1 M €
Cash	524,9 k €	+641%	70,9 k €	-47.0%	133,6 k €	+21.9%	109,6 k €	+26.8%	86,4 k €
Debts	1,2 M €	+15.1%	1 M €	-32.1%	1,5 M €	+40.8%	1,1 M €	-1.6%	1,1 M €
Other
Workforce	17,0 ETP	+44.1%	11,8 ETP	+15.7%	10,2 ETP	+20.0%	8,5 ETP	+21.4%	7,0 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

3 active · 14 ended

Active mandates

Pierre BOUILLON

Director · since 01 mai 2026

Active

Geneviève APPELDOORN

Director · since 02 septembre 2024 · until 01 septembre 2030

Active

Pascal APPELDOORN

Managing director · since 02 septembre 2024 · until 01 septembre 2030

Active

Ended mandates

Pascal APPELDOORN

Director · since 02 septembre 2024 · until 01 septembre 2030

Ended

Geneviève APPELDOORN

Director · since 01 janvier 2016 · until 15 février 2027

Ended

Pascal APPELDOORN

Managing director · since 31 juillet 2009 · until 15 février 2027

Ended

PASCAL APPELDOORN

Director · since 31 juillet 2009 · until 15 février 2027

Ended

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	06/08/2026	20/08/2025	03/07/2024	24/07/2023	04/05/2022	06/07/2021
General meeting	26/06/2026	27/06/2025	07/06/2024	02/06/2023	03/03/2022	04/06/2021
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, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/06/2026	06/08/2026	French	PDF
Abridged model	31/12/2024	27/06/2025	20/08/2025	French	PDF
Abridged model	31/12/2023	07/06/2024	03/07/2024	French	PDF
Abridged model	31/12/2022	02/06/2023	24/07/2023	French	PDF
Abridged model	31/12/2021	03/03/2022	04/05/2022	French	PDF
Abridged model	31/12/2020	04/06/2021	06/07/2021	French	PDF
Abridged model	31/12/2019	26/06/2020	30/06/2020	French	PDF
Abridged model	31/12/2018	07/06/2019	19/07/2019	French	PDF
Abridged model	31/12/2017	01/06/2018	20/08/2018	French	PDF
Abridged model	31/12/2016	02/06/2017	25/08/2017	French	PDF
Abridged model	31/12/2015	03/06/2016	22/07/2016	French	PDF
Abridged model	31/12/2014	05/06/2015	19/08/2015	French	PDF
Abridged model	31/12/2013	06/06/2014	30/07/2014	French	PDF
Abridged model	31/12/2012	07/06/2013	02/08/2013	French	PDF
Abridged model	31/12/2011	01/06/2012	31/07/2012	French	PDF
Abridged model	31/12/2010	03/06/2011	11/06/2011	French	PDF
Abridged model	31/12/2009	04/06/2010	02/08/2010	French	PDF
Abridged model	31/12/2008	05/06/2009	10/06/2009	French	PDF
Abridged model	31/12/2007	05/08/2008	25/08/2008	French	PDF
Abridged model	31/12/2006	01/06/2007	30/08/2007	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

3 active · 14 ended

Active mandates

Pierre BOUILLON

Director · since 01 mai 2026

Active

Geneviève APPELDOORN

Director · since 02 septembre 2024 · until 01 septembre 2030

Active

Pascal APPELDOORN

Managing director · since 02 septembre 2024 · until 01 septembre 2030

Active

Ended mandates

Pascal APPELDOORN

Director · since 02 septembre 2024 · until 01 septembre 2030

Ended

Geneviève APPELDOORN

Director · since 01 janvier 2016 · until 15 février 2027

Ended

Pascal APPELDOORN

Managing director · since 31 juillet 2009 · until 15 février 2027

Ended

PASCAL APPELDOORN

Director · since 31 juillet 2009 · until 15 février 2027

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates24/06/2026
DEMISSIONS, NOMINATIONS
PDF
Restructuring08/07/2025
CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring08/07/2025
CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring21/05/2025
CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates06/09/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DENOMINATION - DIVERS - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Mandates23/08/2021
DEMISSIONS, NOMINATIONS
PDF
Restructuring10/07/2019
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates13/07/2017
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

2025
Annual accounts 2025484,2 k €↑
2024
Annual accounts 2024299,4 k €↑
2024
Name changeAPPELDOORN & ASSOCIES
2023
Annual accounts 2023163,9 k €↓
2022
Annual accounts 2022220,9 k €↓
2021
Annual accounts 2021368,2 k €↑
2021
Name changeAPPELDOORN-WATRIN
2020
Annual accounts 2020256,7 k €↑
2019
Annual accounts 2019226,3 k €↓
2018
Annual accounts 2018556,6 k €↑
2017
Annual accounts 2017163,1 k €↑
2016
Annual accounts 201699,3 k €↑
2015
Annual accounts 201537,9 k €↓
2014
Annual accounts 201470,2 k €↑
2013
Annual accounts 201321,2 k €↓
2012
Annual accounts 201232,6 k €↓
2011
Annual accounts 201145,6 k €↓
2010
Annual accounts 2010111,5 k €↓
2009
Annual accounts 2009113,4 k €↑
2008
Annual accounts 200822,2 k €↑
2007
Annual accounts 20077,1 k €
01/01/1975
IncorporationPublic limited company

Appeldoorn & Associés

Overview

Identity

Financials

Valuation

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

Timeline