ACTIVE

BELAIRBUS

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Financial year 2025 · closed on 31/12/2025

Net result

-51,1 k €

+48.5% YoY

Equity

1,1 M €

-4.3% YoY

Workforce

1,3 ETP

-27.8% YoY

What does BELAIRBUS do?

BELAIRBUS is a Public limited company incorporated in 1979. Its main activity is: Market research and public opinion polling. Its registered office is in Waterloo. It employs on average 1,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0419.290.121

Incorporation

30/03/1979

Legal form

Public limited company

Registered office

Drève Richelle 161 box 57
1410 Waterloo · WallonieSee on map

Contributed capital

371 840,28 €

Latest accounts

31/12/2025

Average workforce

1,3 ETP

Activities (NACE)

73200Market research and public opinion polling· main 73200Market research and public opinion polling 74131Specialised design activities

Joint committees (2)

Signals

Solid equityLow riskGood liquidityHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ 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
Revenue	–		320,7 k €	-99.9%	294 M €	+6.0%	277,5 M €	+34.1%	207 M €	+25.2%	165,3 M €	-55.2%	368,9 M €	+5.5%	349,7 M €	-12.0%	397,3 M €	+4.7%	379,6 M €	+5.6%	359,6 M €	+16.1%	309,8 M €	+4.1%	297,6 M €	+4.8%	284 M €	+18.5%	239,7 M €	+10.7%	216,6 M €	+2.3%	211,7 M €	+6.6%	198,7 M €	+5.7%	187,9 M €	-1.4%	190,6 M €
EBITDA	-81,9 k €	-1.4%	-80,7 k €	-373%	-17,1 k €	-119%	91,5 k €	+434%	-27,4 k €	-171%	38,5 k €	+96.5%	19,6 k €	+176%	7,1 k €	-92.1%	89,4 k €	-30.5%	128,6 k €	-10.5%	143,7 k €	+208%	46,7 k €	-11.9%	53 k €	+115%	-361,2 k €	-16.1%	-311,2 k €	+18.9%	-383,7 k €	-5.1%	-365,1 k €	-122%	1,6 M €	-65.5%	4,8 M €	+654%	630 k €
Operating result	-81,9 k €	+24.8%	-108,9 k €	-135%	-46,3 k €	-153%	88,1 k €	+397%	-29,7 k €	-184%	35,4 k €	+125%	15,8 k €	+419%	3 k €	-96.4%	83,9 k €	-31.5%	122,5 k €	-9.0%	134,6 k €	+271%	36,3 k €	-20.6%	45,8 k €	+112%	-369,5 k €	-11.7%	-330,7 k €	+18.4%	-405,4 k €	-4.9%	-386,6 k €	-202%	-128,2 k €	-18850%	-676,3 €	-141%	1,7 k €
Net result	-51,1 k €	+48.5%	-99,1 k €	-58.6%	-62,5 k €	-183%	75,4 k €	+282%	-41,4 k €	-268%	24,6 k €	+225%	7,6 k €	+194%	-8 k €	-110%	79,1 k €	-32.1%	116,5 k €	-8.8%	127,8 k €	+237%	37,9 k €	-35.2%	58,6 k €	+134%	-171,6 k €	+47.0%	-323,8 k €	-10.7%	-292,5 k €	+16.0%	-348 k €	-501%	-57,9 k €	+88.1%	-484,7 k €	-509%	118,4 k €
Balance sheet
Equity	1,1 M €	-4.3%	1,2 M €	-7.7%	1,3 M €	-4.6%	1,3 M €	+5.9%	1,3 M €	-3.2%	1,3 M €	+1.9%	1,3 M €	+0.6%	1,3 M €	-0.6%	1,3 M €	+6.5%	1,2 M €	+10.7%	1,1 M €	+13.2%	965,1 k €	+4.1%	927,2 k €	+6.7%	868,6 k €	-16.5%	1 M €	-23.7%	1,4 M €	-17.7%	1,7 M €	-17.4%	2 M €	-2.8%	2,1 M €	-19.0%	2,5 M €
Total assets	1,1 M €	-52.3%	2,4 M €	-97.6%	99,5 M €	-2.8%	102,3 M €	+21.6%	84,2 M €	+10.5%	76,2 M €	-29.1%	107,4 M €	+7.4%	100 M €	-0.8%	100,8 M €	-9.1%	110,9 M €	-0.4%	111,3 M €	-0.5%	111,9 M €	+49.6%	74,8 M €	-2.0%	76,3 M €	+15.3%	66,2 M €	+5.2%	62,9 M €	+18.3%	53,2 M €	-5.3%	56,2 M €	+10.1%	51 M €	-27.7%	70,6 M €
Cash	210,1 k €	+348%	46,9 k €	-95.9%	1,1 M €	-63.5%	3,1 M €	-24.2%	4,1 M €	+183%	1,5 M €	-3.9%	1,5 M €	-22.6%	2 M €	+61.4%	1,2 M €	+311%	295,8 k €	-47.3%	561,7 k €	+414%	109,4 k €	-79.8%	542,1 k €	+225%	167 k €	-32.1%	245,9 k €	+151%	97,8 k €	-78.5%	455,3 k €	+406%	89,9 k €	-60.3%	226,6 k €	+59.6%	142 k €
Debts	13,4 k €	-98.5%	904,2 k €	-99.1%	97,9 M €	-2.8%	100,7 M €	+21.9%	82,6 M €	+10.8%	74,6 M €	-29.5%	105,8 M €	+7.6%	98,4 M €	-0.8%	99,2 M €	-9.3%	109,3 M €	-0.4%	109,8 M €	-0.7%	110,6 M €	+62.3%	68,1 M €	+2.7%	66,3 M €	+2.4%	64,8 M €	+14.4%	56,6 M €	+11.2%	50,9 M €	-2.5%	52,2 M €	+12.9%	46,3 M €	-29.9%	66 M €
Other
Workforce	1,3 ETP	-27.8%	1,8 ETP	0.0%	1,8 ETP	0.0%	1,8 ETP	0.0%	1,8 ETP	0.0%	1,8 ETP	0.0%	1,8 ETP	0.0%	1,8 ETP	0.0%	1,8 ETP	-10.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 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 · 115 ended

Active mandates

Jean-Christophe SEYNAEVE

Vice-chairman of the board of directors · since 12 décembre 2023 · until 12 décembre 2029

Active

Nathalie ROGISTER

Vice-chairman of the board of directors · since 12 décembre 2023 · until 12 décembre 2029

Active

Nicolas van den Broek

Director · since 12 décembre 2023 · until 12 décembre 2029

Active

Pierre SONVEAUX

Chairman of the board of directors · since 12 décembre 2023 · until 12 décembre 2029

Active

Thibault Carrier

Director · since 12 décembre 2023 · until 12 décembre 2029

Active

Yves DELATTE

Director · since 12 décembre 2023 · until 12 décembre 2029

Active

Ended mandates

Jean-Christophe SEYNAEVE

Vice-chairman of the board of directors · since 20 juin 2022 · until 28 avril 2028

Ended

Nicolas VAN CUTSEM

Director · since 20 juin 2022 · until 28 avril 2028

Ended

Olivier HELLEBAUT

Director · since 20 juin 2022 · until 28 avril 2028

Ended

Pierre SONVEAUX

Chairman of the board of directors · since 20 juin 2022 · until 28 avril 2028

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	24/07/2026	17/07/2025	08/07/2024	27/06/2023	07/07/2022	19/07/2021
General meeting	26/06/2026	27/06/2025	27/06/2024	14/06/2023	22/06/2022	24/06/2021
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
Full model	31/12/2025	26/06/2026	24/07/2026	French	PDF
Full model	31/12/2024	27/06/2025	17/07/2025	French	PDF
Full model	31/12/2023	27/06/2024	08/07/2024	French	PDF
Full model	31/12/2022	14/06/2023	27/06/2023	French	PDF
Full model	31/12/2021	22/06/2022	07/07/2022	French	PDF
Full model	31/12/2020	24/06/2021	19/07/2021	French	PDF
Full model	31/12/2019	25/06/2020	18/08/2020	French	PDF
Full model	31/12/2018	28/06/2019	01/07/2019	French	PDF
Full model	31/12/2017	28/06/2018	02/07/2018	French	PDF
Full model	31/12/2016	28/04/2017	16/05/2017	French	PDF
Full model	31/12/2015	13/06/2016	20/06/2016	French	PDF
Full model	31/12/2014	24/06/2015	29/06/2015	French	PDF
Full model	31/12/2013	30/06/2014	22/07/2014	French	PDF
Full model	31/12/2012	24/07/2013	26/07/2013	French	PDF
Full model	31/12/2011	09/10/2012	28/11/2012	French	PDF
Full model	31/12/2010	06/05/2011	11/05/2011	French	PDF
Full model	31/12/2009	28/06/2010	30/06/2010	French	PDF
Full model	31/12/2008	06/07/2009	08/07/2009	French	PDF
Full model	31/12/2007	13/08/2008	20/08/2008	French	PDF
Full model	31/12/2006	28/06/2007	22/08/2007	French	PDF
Full model	31/12/2005	12/02/2007	21/02/2007	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 · 115 ended

Active mandates

Jean-Christophe SEYNAEVE

Vice-chairman of the board of directors · since 12 décembre 2023 · until 12 décembre 2029

Active

Nathalie ROGISTER

Vice-chairman of the board of directors · since 12 décembre 2023 · until 12 décembre 2029

Active

Nicolas van den Broek

Director · since 12 décembre 2023 · until 12 décembre 2029

Active

Pierre SONVEAUX

Chairman of the board of directors · since 12 décembre 2023 · until 12 décembre 2029

Active

Thibault Carrier

Director · since 12 décembre 2023 · until 12 décembre 2029

Active

Yves DELATTE

Director · since 12 décembre 2023 · until 12 décembre 2029

Active

Ended mandates

Jean-Christophe SEYNAEVE

Vice-chairman of the board of directors · since 20 juin 2022 · until 28 avril 2028

Ended

Nicolas VAN CUTSEM

Director · since 20 juin 2022 · until 28 avril 2028

Ended

Olivier HELLEBAUT

Director · since 20 juin 2022 · until 28 avril 2028

Ended

Pierre SONVEAUX

Chairman of the board of directors · since 20 juin 2022 · until 28 avril 2028

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates31/07/2025
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates24/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Other13/11/2023
DIVERS
PDF
Mandates15/09/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates13/07/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates30/07/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates17/07/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates23/06/2017
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 2025-51,1 k €↑
24/06/2025
reconductionAmaury Stas de Richelle — commissaire-reviseur
2024
Annual accounts 2024-99,1 k €↓
2023
Annual accounts 2023-62,5 k €↓
2022
Annual accounts 202275,4 k €↑
20/06/2022
reconductionSRL BE AUDIT — commissaire
20/06/2022
reconductionPierre Sonveaux — administrateur
20/06/2022
reconductionJean-Christophe Seynaeve — administrateur
20/06/2022
reconductionYves Delatte — administrateur
20/06/2022
reconductionOlivier Hellebaut — administrateur
20/06/2022
reconductionXavier Carnoy — administrateur
20/06/2022
reconductionThibault Carrier — administrateur
20/05/2022
nominationMarkus Nolte — administrateur
20/05/2022
nominationChristian Boas — administrateur
20/05/2022
nominationNathalie Rogister — administrateur
20/05/2022
nominationNicolas van den Broek — administrateur
2021
Annual accounts 2021-41,4 k €↓
15/02/2021
nominationOlivier Hellebaut — Administrateur
2020
Annual accounts 202024,6 k €↑
2019
Annual accounts 20197,6 k €↑
2018
Annual accounts 2018-8 k €↓
2017
Annual accounts 201779,1 k €↓
2016
Annual accounts 2016116,5 k €↓
2015
Annual accounts 2015127,8 k €↑
2014
Annual accounts 201437,9 k €↓
2013
Annual accounts 201358,6 k €↑
2012
Annual accounts 2012-171,6 k €↑
2011
Annual accounts 2011-323,8 k €↓
2010
Annual accounts 2010-292,5 k €↑
2009
Annual accounts 2009-348 k €↓
2008
Annual accounts 2008-57,9 k €↑
2007
Annual accounts 2007-484,7 k €↓
2006
Annual accounts 2006118,4 k €
30/03/1979
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

BELAIRBUS

Overview

What does BELAIRBUS 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