ACTIVE

PRAGMAGORA

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Financial year 2025 · closed on 31/12/2025

Net result

-1,2 k €

-102.1% YoY

Gross margin

85 k €

-54.7% YoY

Equity

147,2 k €

-0.8% YoY

What does PRAGMAGORA do?

PRAGMAGORA is a Private limited company incorporated in 1984. Its main activity is: Management consultancy activities. Its registered office is in Chaudfontaine.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0425.947.487

Incorporation

22/06/1984

Legal form

Private limited company

Registered office

Au Passou 34
4053 Chaudfontaine · WallonieSee on map

Contributed capital

67 580,00 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities

Joint committees (4)

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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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	85 k €	-54.7%	187,6 k €	+2.1%	183,6 k €	+21.0%	151,7 k €	-18.6%	186,5 k €	+28.1%	145,5 k €	-44.8%	263,5 k €	+78.1%	148 k €	+44.7%	102,3 k €	+52.6%	67 k €	+45.4%	46,1 k €	-13.8%	53,5 k €	-13.1%	61,5 k €	-26.6%	83,9 k €	-7.0%	90,2 k €	+5.1%	85,8 k €	-61.7%	223,9 k €	-29.6%	317,8 k €	+51.4%	209,9 k €
EBITDA	14,2 k €	-85.3%	97,2 k €	+3.5%	93,9 k €	+36.9%	68,6 k €	-36.0%	107,2 k €	+60.9%	66,6 k €	-64.1%	185,3 k €	+80.3%	102,8 k €	+1.0%	101,8 k €	+121%	46 k €	+10.4%	41,7 k €	-12.8%	47,9 k €	-5.8%	50,8 k €	-31.3%	73,9 k €	-12.5%	84,5 k €	+2.3%	82,6 k €	-67.2%	251,5 k €	+24.1%	202,7 k €	+97.2%	102,8 k €
Operating result	4,4 k €	-94.7%	84,4 k €	-7.4%	91,2 k €	+27.1%	71,8 k €	-33.9%	108,6 k €	+112%	51,3 k €	-69.0%	165,1 k €	+90.7%	86,6 k €	+4.6%	82,8 k €	+267%	22,6 k €	-26.5%	30,7 k €	+66.2%	18,5 k €	-12.6%	21,1 k €	-57.6%	49,8 k €	-17.7%	60,5 k €	-10.0%	67,2 k €	-68.9%	215,7 k €	+32.3%	163,1 k €	+190%	56,3 k €
Net result	-1,2 k €	-102%	58,7 k €	-8.9%	64,4 k €	+27.9%	50,3 k €	-35.4%	77,9 k €	+125%	34,7 k €	-68.1%	108,6 k €	+61.4%	67,3 k €	+54.9%	43,4 k €	+1662%	2,5 k €	-71.2%	8,5 k €	+158%	3,3 k €	-59.0%	8,1 k €	-71.6%	28,4 k €	-45.0%	51,7 k €	-1.1%	52,3 k €	+128%	-186,2 k €	-234%	138,7 k €	+966%	13 k €
Balance sheet
Equity	147,2 k €	-0.8%	148,4 k €	-0.9%	149,7 k €	+1.3%	147,8 k €	-27.4%	203,5 k €	+9.7%	185,6 k €	+0.4%	184,9 k €	+4.5%	177 k €	+21.2%	146 k €	-19.8%	181,9 k €	+1.0%	180,1 k €	+5.0%	171,5 k €	+1.9%	168,3 k €	+4.3%	161,4 k €	+23.1%	131,1 k €	+65.2%	79,3 k €	+758%	-12,1 k €	-106%	186,5 k €	+5.8%	176,2 k €
Total assets	195 k €	-30.9%	282 k €	+5.9%	266,3 k €	-28.7%	373,3 k €	+22.4%	305 k €	-10.3%	340,1 k €	-18.4%	416,8 k €	+21.9%	341,8 k €	-34.6%	522,8 k €	-27.7%	723 k €	-3.3%	748 k €	+19.1%	627,8 k €	-0.2%	628,9 k €	+7.5%	584,9 k €	+5.4%	554,9 k €	+56.3%	355,1 k €	+54.5%	229,8 k €	-54.9%	509,4 k €	-2.8%	523,9 k €
Cash	81,7 k €	-48.9%	159,8 k €	+24.1%	128,7 k €	-41.5%	219,9 k €	+5.6%	208,2 k €	-9.8%	230,8 k €	+92.3%	120 k €	-16.1%	143 k €	-45.7%	263,3 k €	-35.7%	409,3 k €	+10.0%	372,3 k €	+16.7%	318,9 k €	-24.4%	422 k €	+35.6%	311,2 k €	-18.3%	381 k €	+130%	165,5 k €	+1205%	12,7 k €	-91.1%	142,9 k €	+143%	58,7 k €
Debts	47,8 k €	-60.5%	121,1 k €	+3.9%	116,5 k €	-30.6%	167,9 k €	+65.5%	101,5 k €	-24.8%	135 k €	-41.8%	231,9 k €	+40.7%	164,8 k €	-53.1%	351,6 k €	-25.0%	469 k €	-6.2%	500,1 k €	+29.9%	384,9 k €	-2.1%	393,1 k €	+11.2%	353,6 k €	+1.4%	348,6 k €	+75.5%	198,6 k €	+68.0%	118,3 k €	-55.5%	265,6 k €	-18.4%	325,4 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		0,0 ETP		0,0 ETP	-100%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	+233%	0,3 ETP		–		–		1,3 ETP	-35.0%	2,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 51 ended

Active mandates

Akil TALMANT

Managing director · since 08 décembre 2023

Active

Antigone MANTOPOULOS

Director · since 08 décembre 2023

Active

Cédric DANSE

Director · since 08 décembre 2023

Active

Jean-Francois LEROY

Director · since 08 décembre 2023

Active

Ended mandates

Antigone MANTOPOULOS

Managing director · since 01 avril 2018

Ended

Antigone MANTOPOULUS

Managing director · since 01 avril 2018

Ended

Cédric DANSE

Director · since 01 avril 2018

Ended

Fabrice DELFOSSE

Director · since 01 avril 2018 · until 28 février 2019

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	09/04/2026	28/03/2025	02/04/2024	26/04/2023	20/06/2022	29/03/2021
General meeting	26/03/2026	24/03/2025	29/03/2024	31/03/2023	25/03/2022	01/03/2021
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
Micro model	31/12/2025	26/03/2026	09/04/2026	French	PDF
Micro model	31/12/2024	24/03/2025	28/03/2025	French	PDF
Micro model	31/12/2023	29/03/2024	02/04/2024	French	PDF
Micro model	31/12/2022	31/03/2023	26/04/2023	French	PDF
Micro model	31/12/2021	25/03/2022	20/06/2022	French	PDF
Micro model	31/12/2020	01/03/2021	29/03/2021	French	PDF
Micro model	31/12/2019	22/06/2020	27/07/2020	French	PDF
Micro model	31/12/2018	14/05/2019	19/07/2019	French	PDF
Abridged model	31/12/2017	28/02/2018	26/07/2018	French	PDF
Abridged model	31/12/2016	21/03/2017	23/06/2017	French	PDF
Abridged model	31/12/2015	15/03/2016	21/03/2016	French	PDF
Abridged model	31/12/2014	22/02/2015	28/02/2015	French	PDF
Abridged model	31/12/2013	26/04/2014	11/05/2014	French	PDF
Abridged model	31/12/2012	25/04/2013	20/05/2013	French	PDF
Abridged model	31/12/2011	31/03/2012	02/04/2012	French	PDF
Abridged model	31/12/2010	09/04/2011	04/05/2011	French	PDF
Abridged model	31/12/2009	06/07/2010	08/07/2010	French	PDF
Abridged model	31/12/2008	25/06/2009	23/07/2009	French	PDF
Abridged model	31/12/2007	28/06/2008	24/07/2008	French	PDF
Abridged model	31/12/2006	16/05/2007	25/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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 31/12/2025 · 4 active · 51 ended

Active mandates

Akil TALMANT

Managing director · since 08 décembre 2023

Active

Antigone MANTOPOULOS

Director · since 08 décembre 2023

Active

Cédric DANSE

Director · since 08 décembre 2023

Active

Jean-Francois LEROY

Director · since 08 décembre 2023

Active

Ended mandates

Antigone MANTOPOULOS

Managing director · since 01 avril 2018

Ended

Antigone MANTOPOULUS

Managing director · since 01 avril 2018

Ended

Cédric DANSE

Director · since 01 avril 2018

Ended

Fabrice DELFOSSE

Director · since 01 avril 2018 · until 28 février 2019

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other10/07/2026
—
PDF
Mandates18/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - SIEGE SOCIAL - OBJET - DEMISSIONS, NOMINATIONS
PDF
Registered office26/02/2021
SIEGE SOCIAL
PDF
Mandates22/12/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates20/06/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates20/07/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates29/07/2016
DEMISSIONS, NOMINATIONS
PDF
Other20/04/2016
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 2025-1,2 k €↓
2024
Annual accounts 202458,7 k €↓
2023
Annual accounts 202364,4 k €↑
2022
Annual accounts 202250,3 k €↓
2021
Annual accounts 202177,9 k €↑
2020
Annual accounts 202034,7 k €↓
2019
Annual accounts 2019108,6 k €↑
2018
Annual accounts 201867,3 k €↑
2017
Annual accounts 201743,4 k €↑
2016
Annual accounts 20162,5 k €↓
2015
Annual accounts 20158,5 k €↑
2014
Annual accounts 20143,3 k €↓
2013
Annual accounts 20138,1 k €↓
2012
Annual accounts 201228,4 k €↓
2011
Annual accounts 201151,7 k €↓
2010
Annual accounts 201052,3 k €↑
2009
Annual accounts 2009-186,2 k €↓
2008
Annual accounts 2008138,7 k €↑
2007
Annual accounts 200713 k €
22/06/1984
IncorporationPrivate 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

PRAGMAGORA

Overview

What does PRAGMAGORA 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