ACTIVE

CPSE

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Financial year 2025 · closed on 31/07/2025

Net result

1,1 k €

+102.8% YoY

Gross margin

2,2 M €

+1.0% YoY

Equity

970,9 k €

-0.3% YoY

What does CPSE do?

CPSE is a Non-profit organization incorporated in 1983. Its main activity is: Other education n.e.c.. Its registered office is in Liège.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0424.467.941

Incorporation

09/06/1983

Legal form

Non-profit organization

Registered office

Rue des Fortifications 25
4030 Liège · WallonieSee on map

Latest accounts

31/07/2025

Activities (NACE)

85592Other education n.e.c.· main 85592Other education n.e.c.

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 10 financial years

	2025		2023		2022		2021		2020		2019		2018		2017		2016		2015
Income statement
Gross margin	2,2 M €	+1.0%	2,2 M €	+9.8%	2 M €	-12.5%	2,3 M €	+1154%	184,4 k €	-5.3%	194,7 k €	-0.2%	195,2 k €	+56.9%	124,4 k €	-3.9%	129,5 k €	-21.2%	164,2 k €
EBITDA	116,7 k €	+60.6%	72,7 k €	-8.8%	79,7 k €	-42.1%	137,6 k €	+14.9%	119,7 k €	-13.4%	138,3 k €	-11.4%	156,2 k €	+25.6%	124,3 k €	-3.9%	129,3 k €	-21.2%	164,2 k €
Operating result	-4,7 k €	+87.5%	-37,8 k €	-29.7%	-29,1 k €	-177%	37,7 k €	-13.1%	43,4 k €	-38.4%	70,4 k €	-18.1%	86 k €	+53.8%	55,9 k €	-9.6%	61,8 k €	-37.9%	99,5 k €
Net result	1,1 k €	+103%	-39,8 k €	-18.3%	-33,7 k €	-210%	30,6 k €	-5.4%	32,4 k €	-50.0%	64,8 k €	-0.6%	65,2 k €	+46.3%	44,5 k €	+12.3%	39,6 k €	-58.2%	94,7 k €
Balance sheet
Equity	970,9 k €	-0.3%	973,9 k €	-3.9%	1 M €	-1.6%	1 M €	+2.6%	1 M €	+5.4%	952,5 k €	+7.0%	890,1 k €	+7.6%	827,3 k €	+5.4%	785,1 k €	+5.0%	747,8 k €
Total assets	2,4 M €	-4.9%	2,5 M €	-1.6%	2,6 M €	-2.0%	2,6 M €	+0.3%	2,6 M €	+19.2%	2,2 M €	+14.9%	1,9 M €	+2.5%	1,9 M €	-0.2%	1,9 M €	-0.1%	1,9 M €
Cash	474,6 k €	+2.9%	461 k €	+1.7%	453,2 k €	+2.7%	441,4 k €	+9.7%	402,5 k €	-24.2%	531 k €	+46.6%	362,2 k €	+38.5%	261,5 k €	-52.9%	555,3 k €	+17.6%	472,2 k €
Debts	1,2 M €	-10.9%	1,3 M €	-2.0%	1,3 M €	-5.2%	1,4 M €	-0.9%	1,4 M €	+37.7%	1 M €	+27.4%	813,1 k €	-4.1%	848 k €	-6.2%	903,8 k €	-4.3%	944,7 k €
Other
Workforce	–		–		3,0 ETP	+50.0%	2,0 ETP	0.0%	2,0 ETP	+11.1%	1,8 ETP	+28.6%	1,4 ETP		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/07/2025 · 9 active · 10 ended

Active mandates

Francis MULDER

Director

Active

Jean-Pierre MERGEAI

Director

Active

Luc PEETERS

Director

Active

Marie LEDAIN

Director

Active

Patrick FONCK

Director

Active

Salim MEGHERBI

Director

Active

Séverine FAORLIN

Director

Active

Stéphane PIRSON

Director

Active

Véronique DE CLERCK

Director

Active

Ended mandates

Séverine FAORLIN

Director · since 28 septembre 2021

Ended

Marie LEDAIN

Director · since 11 mai 2021

Ended

Bernadette FEROUMONT

Director

Ended

Jean-Pierre PECASSE

Director

Ended

Annual accounts

Full financial information

	2025	2023	2022	2021	2020	2019
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/08/2024	01/08/2022	01/08/2021	01/08/2020	01/08/2019	01/08/2018
Closing of the financial year	31/07/2025	31/07/2023	31/07/2022	31/07/2021	31/07/2020	31/07/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	02/01/2026	29/11/2024	03/11/2023	30/03/2022	23/03/2021	28/01/2020
General meeting	18/12/2025	14/12/2023	20/12/2022	23/12/2021	08/12/2020	03/12/2019
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

10 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/07/2025	18/12/2025	02/01/2026	French	PDF
Abridged model	31/07/2023	14/12/2023	29/11/2024	French	PDF
Abridged model	31/07/2022	20/12/2022	03/11/2023	French	PDF
Abridged model	31/07/2021	23/12/2021	30/03/2022	French	PDF
Abridged model	31/07/2020	08/12/2020	23/03/2021	French	PDF
Abridged model	31/07/2019	03/12/2019	28/01/2020	French	PDF
Abridged model	31/07/2018	17/01/2019	21/02/2019	French	PDF
Abridged model	31/07/2017	19/12/2017	10/09/2018	French	PDF
Abridged model	31/07/2016	20/12/2016	10/09/2018	French	PDF
Abridged model	31/07/2015	10/12/2015	07/03/2016	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 31/07/2025 · 9 active · 10 ended

Active mandates

Francis MULDER

Director

Active

Jean-Pierre MERGEAI

Director

Active

Luc PEETERS

Director

Active

Marie LEDAIN

Director

Active

Patrick FONCK

Director

Active

Salim MEGHERBI

Director

Active

Séverine FAORLIN

Director

Active

Stéphane PIRSON

Director

Active

Véronique DE CLERCK

Director

Active

Ended mandates

Séverine FAORLIN

Director · since 28 septembre 2021

Ended

Marie LEDAIN

Director · since 11 mai 2021

Ended

Bernadette FEROUMONT

Director

Ended

Jean-Pierre PECASSE

Director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/05/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates29/12/2023
DEMISSIONS, NOMINATIONS
PDF
Other14/10/2022
ANNEE COMPTABLE - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates23/12/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates24/12/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates19/02/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates28/09/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates28/12/2016
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 20251,1 k €↑
2023
Annual accounts 2023-39,8 k €↓
2022
Annual accounts 2022-33,7 k €↓
2021
Annual accounts 202130,6 k €↓
2020
Annual accounts 202032,4 k €↓
2019
Annual accounts 201964,8 k €↓
2018
Annual accounts 201865,2 k €↑
2017
Annual accounts 201744,5 k €↑
2016
Annual accounts 201639,6 k €↓
2015
Annual accounts 201594,7 k €
09/06/1983
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

CPSE

Overview

What does CPSE do?

Trend over 10 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