LA NITRURATION MODERNE (SA) — Liège (4000)

Identity

Source · BCE/KBO

LA NITRURATION MODERNE is a Public limited company incorporated in 1982. Its registered office is in Liège. It employs on average 36,0 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0423.229.509
Incorporation: 22/11/1982
Legal form: Public limited company
Registered office: Rue Gilles-Galler 22-24
4000 Liège · WallonieSee on map
Contributed capital: 65 227,94 €
Latest accounts: 30/06/2025
Average workforce: 36,0 ETP

Joint committees (4)

111
11101
209
20900

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	2,9 M €	+8.3%	2,7 M €	+0.1%	2,7 M €	+94.5%	1,4 M €	+57.8%	872,5 k €
EBITDA	1 M €	+10.7%	923 k €	+0.4%	919,2 k €	+12569%	7,3 k €	+102%	-290,8 k €
Operating result	977,3 k €	+9.9%	889,3 k €	+0.4%	886,2 k €	+3317%	-27,5 k €	+92.0%	-345,3 k €
Net result	697,5 k €	-19.2%	863 k €	-0.1%	864,2 k €	+2227%	-40,6 k €	+88.5%	-354,5 k €
Balance sheet
Equity	1,5 M €	+84.3%	827 k €	+5.5%	784 k €	+86.8%	419,8 k €	-8.8%	460,4 k €
Total assets	2,6 M €	+11.8%	2,3 M €	+15.7%	2 M €	+50.0%	1,3 M €	-5.8%	1,4 M €
Cash	743,4 k €	+9.2%	681 k €	+35.8%	501,5 k €	+162%	191,2 k €	-68.8%	612,4 k €
Debts	1 M €	-28.9%	1,5 M €	+22.3%	1,2 M €	+33.0%	907 k €	-4.3%	947,7 k €
Other
Workforce	36,0 ETP		–		33,3 ETP	+1.8%	32,7 ETP	-9.9%	36,3 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Board of directors

Source · NBB, accounts to 30/06/2025

4 active · 7 ended

Active mandates

Bernard LEGRAND

Director · since 28 octobre 2025 · until 27 octobre 2031

Active

MB Industrie Holding

Director · since 28 octobre 2025 · until 27 octobre 2031 · 1015.728.075

Represented by Marc LANNERS

Active

Claude BOULANGE

Managing director · until 28 octobre 2025

Active

Daniel BOULANGE

Director · until 28 octobre 2025

Active

Ended mandates

BOULANGE DANIEL

Mandate

Ended

BOULANGE DANIEL

Director

Ended

CLAUDE BOULANGE

Mandate

Ended

CLAUDE BOULANGE

Managing director

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	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	26/01/2026	08/11/2024	06/11/2023	31/10/2022	29/10/2021	14/01/2021
General meeting	31/12/2025	29/10/2024	31/10/2023	25/10/2022	27/10/2021	27/10/2020
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	31/12/2025	26/01/2026	French	PDF
Abridged model	30/06/2024	29/10/2024	08/11/2024	French	PDF
Abridged model	30/06/2023	31/10/2023	06/11/2023	French	PDF
Abridged model	30/06/2022	25/10/2022	31/10/2022	French	PDF
Abridged model	30/06/2021	27/10/2021	29/10/2021	French	PDF
Abridged model	30/06/2020	27/10/2020	14/01/2021	French	PDF
Abridged model	30/06/2019	29/10/2019	06/11/2019	French	PDF
Abridged model	30/06/2018	30/10/2018	15/11/2018	French	PDF
Abridged model	30/06/2017	31/10/2017	02/11/2017	French	PDF
Abridged model	30/06/2016	25/10/2016	28/10/2016	French	PDF
Abridged model	30/06/2015	27/10/2015	23/11/2015	French	PDF
Abridged model	30/06/2014	28/10/2014	20/11/2014	French	PDF
Abridged model	30/06/2013	29/10/2013	09/12/2013	French	PDF
Abridged model	30/06/2012	23/10/2012	04/12/2012	French	PDF
Abridged model	30/06/2011	25/10/2011	20/12/2011	French	PDF
Abridged model	30/06/2010	26/10/2010	23/11/2010	French	PDF
Abridged model	30/06/2009	26/10/2009	30/11/2009	French	PDF
Abridged model	30/06/2008	28/10/2008	18/12/2008	French	PDF
Abridged model	30/06/2007	23/10/2007	22/01/2008	French	PDF
Abridged model	30/06/2006	24/10/2006	08/01/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 30/06/2025

4 active · 7 ended

Active mandates

Bernard LEGRAND

Director · since 28 octobre 2025 · until 27 octobre 2031

Active

MB Industrie Holding

Director · since 28 octobre 2025 · until 27 octobre 2031 · 1015.728.075

Represented by Marc LANNERS

Active

Claude BOULANGE

Managing director · until 28 octobre 2025

Active

Daniel BOULANGE

Director · until 28 octobre 2025

Active

Ended mandates

BOULANGE DANIEL

Mandate

Ended

BOULANGE DANIEL

Director

Ended

CLAUDE BOULANGE

Mandate

Ended

CLAUDE BOULANGE

Managing director

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Other12/08/2026
STATUTS (TRADUCTION, COORDINATION, AUTRES
PDF
Mandates13/02/2026
DEMISSIONS, NOMINATIONS
PDF
Restructuring31/01/2020
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring29/11/2019
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates08/12/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates19/12/2011
DEMISSIONS, NOMINATIONS
PDF
Mandates03/03/2005
DEMISSIONS, NOMINATIONS
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

2025
Annual accounts 2025697,5 k €↓
2024
Annual accounts 2024863 k €↓
2023
Annual accounts 2023864,2 k €↑
2022
Annual accounts 2022-40,6 k €↑
2021
Annual accounts 2021-354,5 k €↓
2020
Annual accounts 2020225,7 k €↑
2019
Annual accounts 2019-153 k €↓
2018
Annual accounts 20181 M €↑
2017
Annual accounts 2017743,5 k €↓
2016
Annual accounts 20161 M €↑
2015
Annual accounts 2015627,3 k €↓
2014
Annual accounts 2014728,1 k €↑
2013
Annual accounts 2013601,9 k €↑
2012
Annual accounts 2012333,5 k €↑
2011
Annual accounts 201196,4 k €↑
2010
Annual accounts 2010-28,6 k €↓
2009
Annual accounts 2009429,5 k €↑
2008
Annual accounts 2008419,7 k €↑
2007
Annual accounts 2007376,1 k €
22/11/1982
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

LA NITRURATION MODERNE

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