ACTIVE

MANAGEMENT ADVICE GROUP

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Financial year 2025 · closed on 31/03/2025

Net result

50,3 k €

+250.2% YoY

Gross margin

231,2 k €

+29.6% YoY

Equity

2,1 M €

+2.4% YoY

What does MANAGEMENT ADVICE GROUP do?

MANAGEMENT ADVICE GROUP is a Limited partnership incorporated in 1982. Its main activity is: Management consultancy activities. Its registered office is in Watermael-Boitsfort.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0422.528.040

Incorporation

17/03/1982

Legal form

Limited partnership

Registered office

Chaussée de La Hulpe 177 box 20
1170 Watermael-Boitsfort · BruxellesSee on map

Contributed capital

1 255 539,49 €

Latest accounts

31/03/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities

Signals

ProfitablePositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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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	231,2 k €	+29.6%	178,4 k €	+41.7%	125,9 k €	-92.2%	1,6 M €	+995%	148 k €	+63.6%	90,4 k €	-23.5%	118,2 k €	+321%	28,1 k €	-54.6%	61,7 k €	+385%	-21,7 k €	-138%	56,5 k €	+5570%	995,9 €	+710%	123 €	+108%	-1,5 k €	-187%	1,7 k €	-41.3%	2,8 k €	+43.3%	2 k €	-61.2%	5,1 k €	+253%	-3,3 k €
EBITDA	210,1 k €	+29.0%	162,9 k €	+42.2%	114,6 k €	-92.9%	1,6 M €	+785%	181,5 k €	+119%	82,8 k €	-28.1%	115,3 k €	+356%	25,3 k €	-57.1%	59 k €	+255%	-38,1 k €	-181%	46,9 k €	+4633%	-1 k €	+33.1%	-1,5 k €	+49.6%	-3,1 k €	-4716%	66,4 €	-94.7%	1,2 k €	+177%	451 €	-88.0%	3,7 k €	+177%	-4,9 k €
Operating result	168,9 k €	+30.6%	129,3 k €	+16.4%	111 k €	-93.2%	1,6 M €	+1059%	139,8 k €	+527%	22,3 k €	-75.6%	91,4 k €	+443%	16,8 k €	-66.0%	49,5 k €	+202%	-48,5 k €	-263%	29,7 k €	+263%	-18,2 k €	+2.3%	-18,7 k €	+4.7%	-19,6 k €	-138%	-8,2 k €	-13.2%	-7,3 k €	+6.5%	-7,8 k €	-73.3%	-4,5 k €	+62.8%	-12,1 k €
Net result	50,3 k €	+250%	-33,5 k €	+46.5%	-62,6 k €	-106%	1,1 M €	+9743%	-11,3 k €	+93.1%	-163,5 k €	-221%	134,6 k €	+262%	-82,9 k €	-11090%	754,7 €	+107%	-11,1 k €	-146%	24,1 k €	+237%	-17,5 k €	-44.0%	-12,2 k €	+8.8%	-13,4 k €	-829%	-1,4 k €	-128%	-631,5 €	+45.3%	-1,2 k €	-170%	1,7 k €	+124%	-6,9 k €
Balance sheet
Equity	2,1 M €	+2.4%	2,1 M €	-1.6%	2,1 M €	-2.9%	2,2 M €	+102%	1,1 M €	-1.0%	1,1 M €	-13.1%	1,2 M €	-70.2%	4,2 M €	-1.9%	4,3 M €	+0.0%	4,3 M €	+2235%	183 k €	+15.2%	159 k €	-9.9%	176,5 k €	-6.5%	188,7 k €	-6.6%	202,1 k €	-0.7%	203,5 k €	-0.3%	204,1 k €	-0.6%	205,3 k €	+0.8%	203,6 k €
Total assets	9,5 M €	-3.8%	9,9 M €	-2.9%	10,2 M €	-1.5%	10,3 M €	+30.4%	7,9 M €	+0.1%	7,9 M €	-1.3%	8 M €	-3.2%	8,3 M €	-0.0%	8,3 M €	-0.0%	8,3 M €	+73.4%	4,8 M €	+17.2%	4,1 M €	+639%	551,4 k €	-1.7%	560,8 k €	+175%	203,7 k €	-0.7%	205 k €	-0.3%	205,6 k €	-5.4%	217,3 k €	+5.3%	206,3 k €
Cash	34,3 k €	-69.2%	111,4 k €	-63.9%	308,8 k €	+84.4%	167,4 k €	+3444%	4,7 k €	+63.2%	2,9 k €	+24323%	11,9 €	-95.9%	289 €	-77.0%	1,3 k €	-71.0%	4,3 k €	-98.1%	231,5 k €	-50.7%	469,2 k €	+464%	83,2 k €	+8805%	934,5 €	+2923%	30,9 €	-92.6%	420 €	-61.4%	1,1 k €	+86.3%	584 €	-65.3%	1,7 k €
Debts	4,2 M €	-8.4%	4,6 M €	-4.7%	4,8 M €	-1.2%	4,9 M €	+26.4%	3,8 M €	+0.3%	3,8 M €	+1.7%	3,8 M €	-5.5%	4 M €	+0.8%	4 M €	-1.3%	4 M €	-12.8%	4,6 M €	+17.2%	3,9 M €	+944%	374,9 k €	+0.7%	372,1 k €	+23159%	1,6 k €	+6.7%	1,5 k €	0.0%	1,5 k €	-87.5%	12 k €	+349%	2,7 k €

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 31/03/2025 · 2 active · 3 ended

Active mandates

Maximilien T'Scharner

Director · since 10 juin 2024

Active

NICOLE VAN BIERBEEK

Director · since 27 décembre 2023

Active

Ended mandates

Nicole Van Bierbeek

Administrator - manager · since 27 novembre 2015

Ended

NICOLE VAN BIERBEEK

Managing director · since 27 novembre 2015

Ended

Nicole VAN BIERBEEK

Manager

Ended

At this address

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Micro model	Abridged model
Start of the financial year	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020	01/04/2019
Closing of the financial year	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021	31/03/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	28/10/2025	03/12/2024	12/10/2023	30/09/2022	13/10/2021	27/11/2020
General meeting	20/10/2025	15/10/2024	12/10/2023	16/09/2022	13/10/2021	14/11/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/03/2025	20/10/2025	28/10/2025	French	PDF
Abridged model	31/03/2024	15/10/2024	03/12/2024	French	PDF
Abridged model	31/03/2023	12/10/2023	12/10/2023	French	PDF
Abridged model	31/03/2022	16/09/2022	30/09/2022	French	PDF
Micro model	31/03/2021	13/10/2021	13/10/2021	French	PDF
Abridged model	31/03/2020	14/11/2020	27/11/2020	French	PDF
Micro model	31/03/2019	17/06/2019	28/08/2019	French	PDF
Abridged model	31/03/2018	19/06/2018	26/10/2018	French	PDF
Abridged model	31/03/2017	30/08/2017	29/09/2017	French	PDF
Abridged model	31/03/2016	30/08/2016	23/09/2016	French	PDF
Abridged model	31/03/2015	11/09/2015	08/10/2015	French	PDF
Abridged model	31/03/2014	22/09/2014	30/09/2014	French	PDF
Abridged model	31/03/2013	30/05/2013	07/10/2013	French	PDF
Abridged model	31/03/2012	30/05/2012	26/06/2012	French	PDF
Abridged model	31/03/2011	30/05/2011	30/06/2011	French	PDF
Abridged model	31/03/2010	30/06/2010	19/08/2010	French	PDF
Abridged model	31/03/2009	01/06/2009	08/06/2009	French	PDF
Abridged model	31/03/2008	20/06/2008	24/07/2008	French	PDF
Abridged model	31/03/2007	30/05/2007	19/06/2007	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 31/03/2025 · 2 active · 3 ended

Active mandates

Maximilien T'Scharner

Director · since 10 juin 2024

Active

NICOLE VAN BIERBEEK

Director · since 27 décembre 2023

Active

Ended mandates

Nicole Van Bierbeek

Administrator - manager · since 27 novembre 2015

Ended

NICOLE VAN BIERBEEK

Managing director · since 27 novembre 2015

Ended

Nicole VAN BIERBEEK

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office17/02/2026
SIEGE SOCIAL
PDF
Mandates14/11/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates05/02/2024
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office17/01/2023
SIEGE SOCIAL
PDF
Restructuring11/02/2019
CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring23/10/2018
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Registered office04/05/2016
SIEGE SOCIAL
PDF
Capital / shares08/12/2015
OBJET - CAPITAL, ACTIONS - MODIFICATION FORME JURIDIQUE
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 202550,3 k €↑
2024
Annual accounts 2024-33,5 k €↑
2023
Annual accounts 2023-62,6 k €↓
2022
Annual accounts 20221,1 M €↑
2021
Annual accounts 2021-11,3 k €↑
2020
Annual accounts 2020-163,5 k €↓
2019
Annual accounts 2019134,6 k €↑
2018
Annual accounts 2018-82,9 k €↓
2017
Annual accounts 2017754,7 €↑
2016
Annual accounts 2016-11,1 k €↓
2015
Annual accounts 201524,1 k €↑
2014
Annual accounts 2014-17,5 k €↓
2013
Annual accounts 2013-12,2 k €↑
2012
Annual accounts 2012-13,4 k €↓
2011
Annual accounts 2011-1,4 k €↓
2010
Annual accounts 2010-631,5 €↑
2009
Annual accounts 2009-1,2 k €↓
2008
Annual accounts 20081,7 k €↑
2007
Annual accounts 2007-6,9 k €
17/03/1982
IncorporationLimited partnership

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

MANAGEMENT ADVICE GROUP

Overview

What does MANAGEMENT ADVICE GROUP do?

Trend over 19 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