ACTIVE

Associated Services

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Financial year 2025 · closed on 31/12/2025

Net result

66,5 k €

-12.1% YoY

Gross margin

151,3 k €

+1.8% YoY

Equity

1,3 M €

+5.4% YoY

What does Associated Services do?

Associated Services is a Public limited company incorporated in 1978. Its main activity is: Warehousing and storage. Its registered office is in Overijse.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0418.846.790

Incorporation

24/10/1978

Legal form

Public limited company

Registered office

Clem. Vanophemstraat 78
3090 Overijse · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

52100Warehousing and storage· main 52100Warehousing and storage 63121Web portals 46180Agents specialised in the sale of other particular products 46180Agents specialised in the sale of other particular products 51180Passenger air transport+5

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	151,3 k €	+1.8%	148,7 k €	+16.7%	127,4 k €	-29.9%	181,9 k €	+1.7%	178,9 k €	+31.0%	136,6 k €	-13.2%	157,3 k €	-13.5%	182 k €	-5.5%	192,5 k €	+9.9%	175,1 k €	+28.7%	136 k €	+5.7%	128,7 k €	-1.9%	131,3 k €	-0.0%	131,3 k €	+8.7%	120,8 k €	+7.7%	112,2 k €	-2.0%	114,5 k €	+22.0%	93,8 k €	+6.8%	87,8 k €	+34.4%	65,4 k €
EBITDA	124,1 k €	-6.2%	132,3 k €	+19.1%	111,1 k €	-34.6%	169,9 k €	+5.0%	161,8 k €	+29.0%	125,4 k €	-15.2%	147,9 k €	-14.2%	172,4 k €	-6.0%	183,4 k €	+10.4%	166,2 k €	+30.7%	127,1 k €	+6.1%	119,8 k €	-2.1%	122,4 k €	-0.0%	122,4 k €	+9.1%	112,2 k €	+8.4%	103,5 k €	-2.7%	106,4 k €	+24.0%	85,8 k €	+7.6%	79,7 k €	+39.0%	57,3 k €
Operating result	85,9 k €	-7.9%	93,3 k €	+22.2%	76,3 k €	-44.2%	136,8 k €	+12.4%	121,7 k €	+46.5%	83,1 k €	-40.1%	138,8 k €	-15.0%	163,3 k €	-5.9%	173,6 k €	+11.1%	156,3 k €	+34.4%	116,3 k €	+5.2%	110,6 k €	+0.8%	109,7 k €	+1.6%	107,9 k €	+10.7%	97,5 k €	+9.1%	89,4 k €	-3.1%	92,3 k €	+34.1%	68,8 k €	+14.0%	60,4 k €	+58.2%	38,2 k €
Net result	66,5 k €	-12.1%	75,7 k €	+24.2%	61 k €	-32.9%	90,9 k €	+11.5%	81,5 k €	+51.7%	53,7 k €	-42.7%	93,8 k €	-14.6%	109,9 k €	+3.7%	106 k €	-1.3%	107,3 k €	+51.7%	70,7 k €	-4.7%	74,3 k €	-12.0%	84,4 k €	+8.2%	78 k €	+8.2%	72 k €	+15.4%	62,4 k €	-5.3%	66 k €	+16.1%	56,8 k €	+74.4%	32,6 k €	+39.1%	23,4 k €
Balance sheet
Equity	1,3 M €	+5.4%	1,2 M €	+6.6%	1,2 M €	+5.6%	1,1 M €	+9.1%	1 M €	+8.9%	919,2 k €	+6.2%	865,5 k €	+11.9%	773,2 k €	-35.2%	1,2 M €	+10.1%	1,1 M €	+10.0%	985,6 k €	+7.7%	914,9 k €	+8.8%	840,6 k €	+2.5%	819,9 k €	+10.5%	741,9 k €	+10.8%	669,9 k €	+10.3%	607,4 k €	+12.2%	541,5 k €	+11.7%	484,6 k €	+7.2%	452 k €
Total assets	1,6 M €	+3.1%	1,5 M €	+0.0%	1,5 M €	+1.7%	1,5 M €	+7.5%	1,4 M €	+6.5%	1,3 M €	+47.8%	896,8 k €	+7.1%	837,4 k €	-32.8%	1,2 M €	+7.4%	1,2 M €	+10.2%	1,1 M €	+4.6%	1 M €	+12.3%	896,1 k €	-1.1%	906,5 k €	+7.8%	840,8 k €	+6.8%	787,1 k €	+5.1%	748,8 k €	+7.3%	698 k €	+5.5%	661,7 k €	+0.2%	660,1 k €
Cash	72,6 k €	+203%	24 k €	-95.0%	481,6 k €	-1.1%	487 k €	+40.8%	345,8 k €	+60.0%	216,1 k €	-48.0%	415,5 k €	+4.6%	397,4 k €	-50.1%	796,2 k €	+14.7%	694,3 k €	+18.4%	586,5 k €	+11.6%	525,5 k €	+22.9%	427,5 k €	+7.1%	398,9 k €	+30.6%	305,6 k €	+32.6%	230,4 k €	+17.3%	196,4 k €	+244%	57,1 k €	+157%	22,2 k €	-53.7%	48,1 k €
Debts	281,7 k €	-6.7%	301,9 k €	-20.3%	378,7 k €	-7.6%	409,9 k €	+5.7%	387,9 k €	-1.4%	393,4 k €	+2090%	18 k €	-64.6%	50,7 k €	+36.6%	37,2 k €	-33.7%	56 k €	+25.7%	44,6 k €	-34.5%	68,1 k €	+124%	30,4 k €	-47.4%	57,7 k €	-16.4%	69 k €	-17.2%	83,4 k €	-21.4%	106 k €	-10.6%	118,6 k €	-13.7%	137,5 k €	-17.7%	167,2 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 25 ended

Active mandates

Jill Van Eecke

Director · since 24 août 2024 · until 24 août 2029

Active

Liliane Mireille Desaever

Director · since 25 août 2023 · until 25 août 2029

Active

Mureille Wauters

Director · since 24 août 2023 · until 24 août 2029

Active

Ended mandates

Gerd Van Damme

Director · since 30 novembre 2017 · until 28 avril 2023

Ended

Gerd Van Damme

Director · since 30 novembre 2017 · until 25 août 2023

Ended

Liliane Desaever

Managing director · since 30 novembre 2017 · until 28 avril 2023

Ended

Liliane Desaever

Managing director · since 30 novembre 2017 · until 25 août 2023

Ended

At this address

Other companies at this address

Company	CBE no.
TRANSWORLD INTERNATIONAL● Active	0418.728.214

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	18/08/2026	18/06/2025	30/08/2024	30/08/2023	30/08/2022	30/08/2021
General meeting	24/04/2026	25/04/2025	23/08/2024	25/08/2023	15/07/2022	28/08/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	24/04/2026	18/08/2026	Dutch	PDF
Micro model	31/12/2024	25/04/2025	18/06/2025	Dutch	PDF
Micro model	31/12/2023	23/08/2024	30/08/2024	Dutch	PDF
Micro model	31/12/2022	25/08/2023	30/08/2023	Dutch	PDF
Micro model	31/12/2021	15/07/2022	30/08/2022	Dutch	PDF
Micro model	31/12/2020	28/08/2021	30/08/2021	Dutch	PDF
Micro model	31/12/2019	27/08/2020	24/09/2020	Dutch	PDF
Micro model	31/12/2018	27/06/2019	31/08/2019	Dutch	PDF
Micro model	31/12/2017	29/06/2018	30/08/2018	Dutch	PDF
Micro model	31/12/2016	23/06/2017	30/08/2017	Dutch	PDF
Abridged model	31/12/2015	22/06/2016	28/07/2016	Dutch	PDF
Abridged model	31/12/2014	24/06/2015	28/08/2015	Dutch	PDF
Abridged model	31/12/2013	25/04/2014	18/07/2014	Dutch	PDF
Abridged model	31/12/2012	29/04/2013	18/06/2013	Dutch	PDF
Abridged model	31/12/2011	27/04/2012	30/08/2012	Dutch	PDF
Abridged model	31/12/2010	30/06/2011	25/08/2011	Dutch	PDF
Abridged model	31/12/2009	30/04/2010	26/08/2010	Dutch	PDF
Abridged model	31/12/2008	24/04/2009	30/06/2009	Dutch	PDF
Abridged model	31/12/2007	20/05/2008	25/06/2008	Dutch	PDF
Abridged model	31/12/2006	07/06/2007	17/07/2007	Dutch	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 25 ended

Active mandates

Jill Van Eecke

Director · since 24 août 2024 · until 24 août 2029

Active

Liliane Mireille Desaever

Director · since 25 août 2023 · until 25 août 2029

Active

Mureille Wauters

Director · since 24 août 2023 · until 24 août 2029

Active

Ended mandates

Gerd Van Damme

Director · since 30 novembre 2017 · until 28 avril 2023

Ended

Gerd Van Damme

Director · since 30 novembre 2017 · until 25 août 2023

Ended

Liliane Desaever

Managing director · since 30 novembre 2017 · until 28 avril 2023

Ended

Liliane Desaever

Managing director · since 30 novembre 2017 · until 25 août 2023

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates01/04/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/01/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/09/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING - ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/02/2018
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares06/02/2018
KAPITAAL - AANDELEN
PDF
Capital / shares02/01/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates25/10/2012
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/10/2010
ONTSLAGEN - BENOEMINGEN
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 202566,5 k €↓
2024
Annual accounts 202475,7 k €↑
2023
Annual accounts 202361 k €↓
2022
Annual accounts 202290,9 k €↑
2021
Annual accounts 202181,5 k €↑
2020
Annual accounts 202053,7 k €↓
2019
Annual accounts 201993,8 k €↓
2018
Annual accounts 2018109,9 k €↑
2017
Annual accounts 2017106 k €↓
2016
Annual accounts 2016107,3 k €↑
2015
Annual accounts 201570,7 k €↓
2014
Annual accounts 201474,3 k €↓
2013
Annual accounts 201384,4 k €↑
2012
Annual accounts 201278 k €↑
2011
Annual accounts 201172 k €↑
2010
Annual accounts 201062,4 k €↓
2009
Annual accounts 200966 k €↑
2008
Annual accounts 200856,8 k €↑
2007
Annual accounts 200732,6 k €↑
2006
Annual accounts 200623,4 k €
24/10/1978
IncorporationPublic limited company

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

Associated Services

Overview

What does Associated Services do?

Trend over 20 financial years

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