ACTIVE

Halfin Investment Management

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Financial year 2025 · closed on 30/06/2025

Net result

156,2 k €

-9.1% YoY

Gross margin

121,6 k €

-34.3% YoY

Equity

4,2 M €

-2.9% YoY

What does Halfin Investment Management do?

Halfin Investment Management is a Public limited company incorporated in 1984. Its main activity is: Management consultancy activities. Its registered office is in Watermael-Boitsfort.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0426.873.244

Incorporation

28/12/1984

Legal form

Public limited company

Registered office

Drève des Rhododendrons 10
1170 Watermael-Boitsfort · BruxellesSee on map

Contributed capital

62 000,00 €

Latest accounts

30/06/2025

Activities (NACE)

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

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	121,6 k €	-34.3%	185,2 k €	+48.7%	124,5 k €	+348%	27,8 k €	-89.3%	259,6 k €	+17.9%	220,3 k €	+1531%	-15,4 k €	-108%	200,2 k €	-50.9%	407,3 k €	+7.2%	379,8 k €	+15.2%	329,8 k €	+51.9%	217,1 k €	-7.8%	235,5 k €	+25.9%	187 k €	+36.6%	136,9 k €	-31.0%	198,4 k €	+78.5%	111,1 k €	-31.4%	162,1 k €	+9.5%	147,9 k €
EBITDA	78,8 k €	-43.7%	139,9 k €	+27.5%	109,8 k €	+644%	14,8 k €	-94.1%	248 k €	+19.4%	207,8 k €	+816%	-29 k €	-115%	189 k €	-52.2%	395,5 k €	+7.1%	369,2 k €	+15.6%	319,3 k €	+58.3%	201,7 k €	-7.5%	218,2 k €	+27.3%	171,4 k €	+37.7%	124,5 k €	-33.2%	186,4 k €	+88.0%	99,2 k €	-33.7%	149,5 k €	+9.5%	136,5 k €
Operating result	62 k €	-48.7%	120,9 k €	+35.9%	88,9 k €	+1849%	-5,1 k €	-102%	226,5 k €	+21.2%	186,9 k €	+474%	-49,9 k €	-130%	169 k €	-54.8%	373,6 k €	+12.7%	331,7 k €	+17.7%	281,9 k €	+87.8%	150,1 k €	-4.1%	156,5 k €	+61.1%	97,2 k €	+66.5%	58,3 k €	-50.4%	117,7 k €	+277%	31,2 k €	-61.4%	80,8 k €	+31.2%	61,6 k €
Net result	156,2 k €	-9.1%	171,8 k €	-75.9%	713 k €	+1063%	61,3 k €	-76.5%	260,9 k €	-88.0%	2,2 M €	+5458%	-40,4 k €	-138%	105,5 k €	-49.1%	207 k €	+13.3%	182,7 k €	+4.9%	174,3 k €	+62.6%	107,2 k €	-3.9%	111,5 k €	+62.1%	68,8 k €	+41.2%	48,7 k €	-45.3%	89,1 k €	+262%	24,6 k €	-55.4%	55,1 k €	+44.7%	38,1 k €
Balance sheet
Equity	4,2 M €	-2.9%	4,3 M €	+4.2%	4,1 M €	+21.0%	3,4 M €	+1.8%	3,3 M €	+8.5%	3,1 M €	+238%	909,7 k €	-4.3%	950,1 k €	-50.7%	1,9 M €	+12.0%	1,7 M €	+11.9%	1,5 M €	+12.8%	1,4 M €	-1.0%	1,4 M €	+8.8%	1,3 M €	+5.7%	1,2 M €	+4.2%	1,1 M €	+8.4%	1,1 M €	+2.4%	1 M €	+5.6%	979,6 k €
Total assets	4,6 M €	+3.2%	4,4 M €	+4.6%	4,2 M €	+19.9%	3,5 M €	+0.3%	3,5 M €	+1.3%	3,5 M €	+219%	1,1 M €	-7.5%	1,2 M €	-46.8%	2,2 M €	+10.9%	2 M €	+10.4%	1,8 M €	+15.8%	1,6 M €	-4.8%	1,6 M €	+10.8%	1,5 M €	+5.4%	1,4 M €	+4.3%	1,3 M €	+6.5%	1,3 M €	+0.8%	1,3 M €	-6.2%	1,3 M €
Cash	1 M €	+43.4%	705,7 k €	+41.7%	498,1 k €	+8.4%	459,3 k €	+5.0%	437,4 k €	-6.7%	468,6 k €	-3.5%	485,4 k €	-13.1%	558,7 k €	-64.6%	1,6 M €	+16.2%	1,4 M €	+19.7%	1,1 M €	+31.3%	864,9 k €	-7.7%	936,8 k €	+29.8%	721,6 k €	+12.9%	638,9 k €	+28.6%	497 k €	+55.6%	319,3 k €	+37.3%	232,5 k €	+231%	70,3 k €
Debts	338,2 k €	+356%	74,1 k €	+32.7%	55,8 k €	-18.0%	68,1 k €	-42.7%	118,8 k €	-64.5%	334,4 k €	+183%	118 k €	-6.0%	125,6 k €	-43.2%	221 k €	+5.1%	210,3 k €	+2.3%	205,5 k €	+53.7%	133,7 k €	-33.1%	199,9 k €	+31.8%	151,7 k €	+4.7%	144,8 k €	+5.6%	137,2 k €	-5.5%	145,2 k €	-9.8%	161 k €	-46.4%	300,6 k €

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 30/06/2025 · 1 active · 16 ended

Active mandates

Philippe Halfin

Director · since 18 septembre 2023 · until 15 décembre 2029

Active

Ended mandates

Philippe Halfin

Director · since 15 septembre 2023 · until 15 décembre 2029

Ended

Greta Van Der Putten

Director · since 26 novembre 2019 · until 16 septembre 2023

Ended

Greta Van Der Putten

Director · since 26 novembre 2019 · until 25 novembre 2025

Ended

Philippe Halfin

Managing director · since 26 novembre 2019 · until 25 novembre 2025

Ended

Annual accounts

Full financial information

	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	17/12/2025	24/01/2025	20/12/2023	31/01/2023	31/01/2022	29/01/2021
General meeting	01/12/2025	10/12/2024	19/12/2023	31/12/2022	31/12/2021	31/12/2020
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	01/12/2025	17/12/2025	French	PDF
Abridged model	30/06/2024	10/12/2024	24/01/2025	French	PDF
Abridged model	30/06/2023	19/12/2023	20/12/2023	French	PDF
Abridged model	30/06/2022	31/12/2022	31/01/2023	French	PDF
Abridged model	30/06/2021	31/12/2021	31/01/2022	French	PDF
Abridged model	30/06/2020	31/12/2020	29/01/2021	French	PDF
Micro model	30/06/2019	26/11/2019	14/01/2020	French	PDF
Micro model	30/06/2018	27/11/2018	05/02/2019	French	PDF
Micro model	30/06/2017	15/12/2017	24/01/2018	French	PDF
Abridged model	30/06/2016	15/12/2016	15/01/2017	French	PDF
Abridged model	30/06/2015	24/11/2015	27/01/2016	French	PDF
Abridged model	30/06/2014	25/11/2014	09/01/2015	French	PDF
Abridged model	30/06/2013	31/12/2013	30/01/2014	French	PDF
Abridged model	30/06/2012	31/12/2012	15/02/2013	French	PDF
Abridged model	30/06/2011	29/11/2011	27/02/2012	French	PDF
Abridged model	30/06/2010	30/11/2010	28/02/2011	French	PDF
Abridged model	30/06/2009	24/11/2009	11/02/2010	French	PDF
Abridged model	30/06/2008	25/11/2008	26/02/2009	French	PDF
Abridged model	30/06/2007	27/11/2007	18/02/2008	French	PDF
Abridged model	30/06/2006	28/11/2006	17/01/2007	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 30/06/2025 · 1 active · 16 ended

Active mandates

Philippe Halfin

Director · since 18 septembre 2023 · until 15 décembre 2029

Active

Ended mandates

Philippe Halfin

Director · since 15 septembre 2023 · until 15 décembre 2029

Ended

Greta Van Der Putten

Director · since 26 novembre 2019 · until 16 septembre 2023

Ended

Greta Van Der Putten

Director · since 26 novembre 2019 · until 25 novembre 2025

Ended

Philippe Halfin

Managing director · since 26 novembre 2019 · until 25 novembre 2025

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other30/04/2024
ANNEE COMPTABLE - DIVERS
PDF
Mandates11/10/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DENOMINATION - OBJET - DEMISSIONS, NOMINATIONS - ANNEE COMPTABLE
PDF
Mandates17/02/2021
DEMISSIONS, NOMINATIONS
PDF
Capital / shares06/02/2018
CAPITAL, ACTIONS
PDF
Mandates16/02/2015
DEMISSIONS, NOMINATIONS
PDF
Capital / shares27/02/2014
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Other13/02/2012
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates07/03/2008
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 2025156,2 k €↓
2025
Name changeHALFIN INVESTMENT MANAGEMENT
2024
Annual accounts 2024171,8 k €↓
2023
Annual accounts 2023713 k €↑
2022
Annual accounts 202261,3 k €↓
2022
Name changeHALFIN MARKETING
2021
Annual accounts 2021260,9 k €↓
2020
Annual accounts 20202,2 M €↑
2019
Annual accounts 2019-40,4 k €↓
2018
Annual accounts 2018105,5 k €↓
2017
Annual accounts 2017207 k €↑
2016
Annual accounts 2016182,7 k €↑
2015
Annual accounts 2015174,3 k €↑
2014
Annual accounts 2014107,2 k €↓
2013
Annual accounts 2013111,5 k €↑
2012
Annual accounts 201268,8 k €↑
2011
Annual accounts 201148,7 k €↓
2010
Annual accounts 201089,1 k €↑
2009
Annual accounts 200924,6 k €↓
2008
Annual accounts 200855,1 k €↑
2007
Annual accounts 200738,1 k €
28/12/1984
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

Halfin Investment Management

Overview

What does Halfin Investment Management 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