ACTIVE

Le Condor

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Financial year 2025 · closed on 31/12/2025

Net result

16,7 k €

-41.6% YoY

Gross margin

1,5 M €

+2.1% YoY

Equity

674,4 k €

+2.1% YoY

Workforce

21,7 ETP

+4.3% YoY

What does Le Condor do?

Le Condor is a Non-profit organization incorporated in 1979. Its main activity is: General secondary education. Its registered office is in Etterbeek. It employs on average 21,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0419.260.328

Incorporation

17/02/1979

Legal form

Non-profit organization

Registered office

Boulevard Saint-Michel 64
1040 Etterbeek · BruxellesSee on map

Latest accounts

31/12/2025

Average workforce

21,7 ETP

Activities (NACE)

85313General secondary education· main 87901Other residential care activities 87991Other residential care activities

Joint committees (2)

31902
337

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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		2007
Income statement
Gross margin	1,5 M €	+2.1%	1,5 M €	+2.3%	1,5 M €	+7.1%	1,4 M €	+11.3%	1,2 M €	+1.8%	1,2 M €	+7.9%	1,1 M €	+0.4%	1,1 M €	+6.2%	1,1 M €	+0.7%	1 M €	+0.7%	1 M €	-0.1%	1 M €	+0.6%	1 M €	+5.9%	973,4 k €	+0.8%	966,2 k €	+0.5%	961,4 k €	+16.5%	825,1 k €	-5.5%	873,5 k €	+5.9%	824,5 k €
EBITDA	38,8 k €	-19.2%	48 k €	+18.1%	40,7 k €	-77.3%	179,5 k €	+121%	81,2 k €	-20.7%	102,4 k €	+166%	38,5 k €	-53.8%	83,3 k €	+28.8%	64,6 k €	+15.7%	55,9 k €	+725%	6,8 k €	-86.2%	49 k €	+185%	17,2 k €	-48.6%	33,5 k €	-52.1%	69,9 k €	+102%	34,6 k €	+575%	-7,3 k €	-83.2%	-4 k €	-115%	26,6 k €
Operating result	14,1 k €	-41.3%	24 k €	-20.7%	30,2 k €	-82.2%	169,5 k €	+139%	70,8 k €	-23.7%	92,8 k €	+232%	27,9 k €	-63.0%	75,5 k €	+34.2%	56,3 k €	+17.6%	47,8 k €	+1223%	-4,3 k €	-113%	31,8 k €	+884%	3,2 k €	-84.0%	20,2 k €	-64.3%	56,6 k €	+154%	22,3 k €	+270%	-13,1 k €	-12.8%	-11,6 k €	-162%	18,7 k €
Net result	16,7 k €	-41.6%	28,6 k €	-12.4%	32,6 k €	-80.6%	168,5 k €	+122%	76 k €	-17.5%	92 k €	+241%	27 k €	-84.9%	179,1 k €	+222%	55,6 k €	+13.6%	48,9 k €	+421463%	11,6 €	-100.0%	34 k €	+402%	6,8 k €	-68.2%	21,3 k €	-60.5%	53,9 k €	+75.8%	30,6 k €	+262%	-18,9 k €	-206%	-6,2 k €	-127%	23,1 k €
Balance sheet
Equity	674,4 k €	+2.1%	660,5 k €	+11.0%	594,8 k €	+6.0%	561,4 k €	+0.4%	559,4 k €	-3.6%	580,2 k €	+0.3%	578,7 k €	+0.1%	578,3 k €	+19.5%	484 k €	+2.7%	471,4 k €	+0.0%	471,3 k €	+0.3%	469,7 k €	+21.1%	387,9 k €	-10.7%	434,4 k €	+30.2%	333,6 k €	-9.1%	367,2 k €	+9.1%	336,6 k €	+8.0%	311,8 k €	+11.8%	278,9 k €
Total assets	1,5 M €	+1.7%	1,5 M €	+9.4%	1,4 M €	+17.5%	1,2 M €	+13.9%	1 M €	+9.5%	936,1 k €	+14.0%	821,3 k €	-21.5%	1 M €	+5.6%	990,1 k €	+9.6%	903,2 k €	+9.6%	823,9 k €	-3.7%	855,1 k €	+17.1%	730,5 k €	-15.5%	864,5 k €	-7.1%	931 k €	+21.1%	768,5 k €	+22.6%	626,9 k €	+11.4%	562,9 k €	-5.8%	597,4 k €
Cash	1,1 M €	+6.5%	1 M €	-5.4%	1,1 M €	+6.6%	1 M €	+22.7%	819,7 k €	+2.2%	801,8 k €	+19.2%	672,6 k €	-25.6%	903,7 k €	+7.4%	841,2 k €	+10.2%	763,3 k €	+14.1%	668,9 k €	-2.5%	685,9 k €	+10.4%	621,3 k €	-17.3%	751,1 k €	-9.4%	829,1 k €	+42.7%	581,1 k €	+27.1%	457,2 k €	+9.3%	418,2 k €	-7.9%	454,2 k €
Debts	731,1 k €	-12.4%	834,9 k €	+40.2%	595,4 k €	-0.7%	599,8 k €	+30.4%	459,9 k €	+98.0%	232,3 k €	+18.5%	195,9 k €	-57.5%	460,9 k €	+14.0%	404,4 k €	+7.2%	377,4 k €	+8.8%	346,9 k €	+14.3%	303,4 k €	-6.4%	324,2 k €	-23.4%	423,1 k €	+22.9%	344,1 k €	+19.5%	288,1 k €	-0.8%	290,4 k €	+15.6%	251,2 k €	-12.0%	285,3 k €
Other
Workforce	21,7 ETP	+4.3%	20,8 ETP	+2.0%	20,4 ETP	+3.0%	19,8 ETP	+2.1%	19,4 ETP	0.0%	19,4 ETP	-1.5%	19,7 ETP	-7.1%	21,2 ETP	+13.4%	18,7 ETP	-4.1%	19,5 ETP	-8.0%	21,2 ETP	0.0%	21,2 ETP	+11.0%	19,1 ETP	+7.3%	17,8 ETP	-3.8%	18,5 ETP	-3.1%	19,1 ETP	+7.9%	17,7 ETP	+3.5%	17,1 ETP	-5.5%	18,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 51 ended

Active mandates

Luc BACQ

Director

Active

Naji ABIRAAD

Director

Active

Pascale TRUSSART

Director

Active

Philippe PETIT JEAN

Chairman of the board of directors

Active

Serge FORMISANI

Director

Active

Stéphane VAN VARENBERGH

Director

Active

Ended mandates

Luc BACQ

Director · since 20 mai 2019

Ended

Martine MORTIER

Director · since 20 mai 2019

Ended

Naji ABIRAAD

Director · since 20 mai 2019

Ended

Pascale TRUSSART

Director · since 20 mai 2019

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	02/07/2026	02/07/2025	26/07/2024	25/07/2023	09/11/2022	23/12/2021
General meeting	26/05/2026	26/06/2025	27/05/2024	07/06/2023	01/06/2022	07/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/05/2026	02/07/2026	French	PDF
Abridged model	31/12/2024	26/06/2025	02/07/2025	French	PDF
Abridged model	31/12/2023	27/05/2024	26/07/2024	French	PDF
Abridged model	31/12/2022	07/06/2023	25/07/2023	French	PDF
Abridged model	31/12/2021	01/06/2022	09/11/2022	French	PDF
Abridged model	31/12/2020	07/06/2021	23/12/2021	French	PDF
Abridged model	31/12/2019	22/06/2020	09/10/2020	French	PDF
Abridged model	31/12/2018	20/05/2019	04/10/2019	French	PDF
Abridged model	31/12/2017	22/05/2018	20/09/2018	French	PDF
Abridged model	31/12/2016	11/05/2017	21/09/2017	French	PDF
Abridged model	31/12/2015	01/06/2016	13/10/2016	French	PDF
Abridged model	31/12/2014	03/06/2015	24/08/2015	French	PDF
Abridged model	31/12/2013	13/05/2014	21/10/2014	French	PDF
Abridged model	31/12/2012	28/05/2013	08/10/2013	French	PDF
Abridged model	31/12/2011	22/05/2012	11/09/2012	French	PDF
Abridged model	31/12/2010	24/05/2011	16/09/2011	French	PDF
Abridged model	31/12/2009	03/06/2010	09/12/2010	French	PDF
Abridged model	31/12/2008	06/10/2009	30/11/2009	French	PDF
Abridged model	31/12/2007	04/06/2008	05/09/2008	French	PDF
Abridged model	31/12/2006	18/06/2007	25/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 51 ended

Active mandates

Luc BACQ

Director

Active

Naji ABIRAAD

Director

Active

Pascale TRUSSART

Director

Active

Philippe PETIT JEAN

Chairman of the board of directors

Active

Serge FORMISANI

Director

Active

Stéphane VAN VARENBERGH

Director

Active

Ended mandates

Luc BACQ

Director · since 20 mai 2019

Ended

Martine MORTIER

Director · since 20 mai 2019

Ended

Naji ABIRAAD

Director · since 20 mai 2019

Ended

Pascale TRUSSART

Director · since 20 mai 2019

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/07/2026
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Other20/06/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office22/09/2021
SIEGE SOCIAL
PDF
Mandates01/07/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates29/06/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates02/07/2014
DEMISSIONS, NOMINATIONS
PDF
Mandates26/06/2013
DEMISSIONS, NOMINATIONS
PDF
Mandates01/10/2012
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 202516,7 k €↓
2024
Annual accounts 202428,6 k €↓
2023
Annual accounts 202332,6 k €↓
2022
Annual accounts 2022168,5 k €↑
2021
Annual accounts 202176 k €↓
2020
Annual accounts 202092 k €↑
2019
Annual accounts 201927 k €↓
2018
Annual accounts 2018179,1 k €↑
2017
Annual accounts 201755,6 k €↑
2016
Annual accounts 201648,9 k €↑
2015
Annual accounts 201511,6 €↓
2014
Annual accounts 201434 k €↑
2013
Annual accounts 20136,8 k €↓
2012
Annual accounts 201221,3 k €↓
2011
Annual accounts 201153,9 k €↑
2010
Annual accounts 201030,6 k €↑
2009
Annual accounts 2009-18,9 k €↓
2008
Annual accounts 2008-6,2 k €↓
2007
Annual accounts 200723,1 k €
17/02/1979
IncorporationNon-profit organization

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

Le Condor

Overview

What does Le Condor 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