ACTIVE

VERHULST AND FRIENDS

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Financial year 2025 · closed on 31/12/2025

Net result

63,3 k €

+103.2% YoY

Gross margin

641,4 k €

-12.5% YoY

Equity

397,7 k €

+18.9% YoY

Workforce

8,4 ETP

-5.6% YoY

What does VERHULST AND FRIENDS do?

VERHULST AND FRIENDS is a Public limited company incorporated in 1985. Its main activity is: Advertising agencies. Its registered office is in Woluwe-Saint-Lambert. It employs on average 8,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0427.256.492

Incorporation

26/04/1985

Legal form

Public limited company

Registered office

Boulevard de la Woluwe 60D box 1
1200 Woluwe-Saint-Lambert · BruxellesSee on map

Contributed capital

845 000,00 €

Latest accounts

31/12/2025

Average workforce

8,4 ETP

Activities (NACE)

73110Advertising agencies· main 73110Advertising agencies 74401Other professional, scientific and technical activities 82300Organisation of conventions and trade shows 82300Organisation of conventions and trade shows

Joint committees (2)

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

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	641,4 k €	-12.5%	733,2 k €	+34.2%	546,5 k €	+73.4%	315,1 k €	+51.3%	208,3 k €	+149%	-424,3 k €	-290%	223,7 k €	+9.4%	204,5 k €	-5.4%	216,2 k €	-7.2%	232,9 k €	-11.9%	264,5 k €	+16.0%	228,1 k €	+12.5%	202,7 k €	-37.2%	322,7 k €	+35.9%	237,4 k €	+4822%	4,8 k €	-24.5%	6,4 k €	+56.0%	4,1 k €	+34.2%	3,1 k €
EBITDA	63,3 k €	-50.4%	127,7 k €	-4.9%	134,3 k €	+94.3%	69,1 k €	+10.5%	62,5 k €	+110%	-602,9 k €	-1221%	53,8 k €	+9.4%	49,2 k €	-32.9%	73,3 k €	-2.4%	75,1 k €	+3.5%	72,6 k €	+56.7%	46,3 k €	-13.5%	53,6 k €	-43.4%	94,6 k €	+45.3%	65,1 k €	+1836%	3,4 k €	-32.1%	5 k €	+130%	2,2 k €	+106%	1,1 k €
Operating result	4 k €	-94.8%	76 k €	-29.2%	107,2 k €	+82.2%	58,8 k €	+21.7%	48,4 k €	+108%	-617 k €	-1980%	32,8 k €	+9.3%	30 k €	-23.2%	39,1 k €	+34.6%	29 k €	+11.1%	26,1 k €	+392%	5,3 k €	-49.6%	10,5 k €	+150%	4,2 k €	-72.5%	15,4 k €	+357%	3,4 k €	-32.1%	5 k €	+130%	2,2 k €	+187%	-2,5 k €
Net result	63,3 k €	+103%	31,2 k €	+460%	5,6 k €	+4.5%	5,3 k €	-70.0%	17,8 k €	+103%	-638,5 k €	-32067%	2 k €	+79.6%	1,1 k €	-80.8%	5,8 k €	+610%	815,3 €	+111%	385,9 €	+46.8%	262,8 €	+6.2%	247,4 €	-68.0%	773,4 €	+591%	112 €	-98.5%	7,5 k €	+45.7%	5,2 k €	+24.7%	4,1 k €	+699%	-692 €
Balance sheet
Equity	397,7 k €	+18.9%	334,4 k €	+18.3%	282,7 k €	+191%	97,1 k €	+5.8%	91,8 k €	+120%	-466 k €	-370%	172,5 k €	+1.2%	170,5 k €	+0.7%	169,4 k €	+3.5%	163,6 k €	-53.2%	349,8 k €	+0.1%	349,4 k €	+0.1%	349,2 k €	+0.1%	348,9 k €	+0.2%	348,1 k €	+255%	98 k €	+8.3%	90,5 k €	+6.1%	85,3 k €	+5.1%	81,2 k €
Total assets	4,9 M €	+19.5%	4,1 M €	-8.7%	4,5 M €	+48.1%	3 M €	+50.7%	2 M €	-0.7%	2 M €	-8.7%	2,2 M €	+38.4%	1,6 M €	+9.3%	1,5 M €	+38.3%	1,1 M €	-16.2%	1,3 M €	+5.8%	1,2 M €	-32.2%	1,8 M €	+54.7%	1,1 M €	-19.5%	1,4 M €	+303%	352,3 k €	+281%	92,4 k €	+6.6%	86,7 k €	+3.7%	83,6 k €
Cash	123,2 k €	-46.8%	231,7 k €	-68.1%	725,5 k €	+141%	300,6 k €	+83.8%	163,5 k €	-51.6%	337,7 k €	-32.6%	500,8 k €	+92.3%	260,4 k €	-40.8%	440,1 k €	+112%	207,6 k €	-45.8%	383,3 k €	+170%	142,2 k €	-50.3%	286 k €	+15.3%	248,2 k €	-62.6%	664 k €	+9889%	6,6 k €	+640%	898 €	-83.4%	5,4 k €	-50.1%	10,8 k €
Debts	2,7 M €	-0.8%	2,8 M €	+18.3%	2,3 M €	-5.9%	2,5 M €	+71.5%	1,4 M €	-33.0%	2,2 M €	+5.7%	2 M €	+42.2%	1,4 M €	+11.7%	1,3 M €	+44.1%	892,3 k €	-1.2%	903,6 k €	+51.7%	595,7 k €	-54.3%	1,3 M €	+80.5%	721,8 k €	-13.4%	833,5 k €	+228%	254,3 k €	+12973%	1,9 k €	+39.3%	1,4 k €	-43.3%	2,5 k €
Other
Workforce	8,4 ETP	-5.6%	8,9 ETP	+20.3%	7,4 ETP	+39.6%	5,3 ETP	+43.2%	3,7 ETP	+32.1%	2,8 ETP	0.0%	2,8 ETP	0.0%	2,8 ETP	+12.0%	2,5 ETP	+4.2%	2,4 ETP	-36.8%	3,8 ETP	+26.7%	3,0 ETP	+7.1%	2,8 ETP	0.0%	2,8 ETP	-20.0%	3,5 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 · 12 ended

Active mandates

Anthony DELHAUTEUR

Représentant permanent · since 20 février 2025

Active

Dimitri VERSCHUEREN

Managing director · since 17 février 2023 · until 17 février 2029

Active

Jonathan JOSSART

Managing director · since 22 mars 2021 · until 22 mars 2027

Active

Michael GOOSSENS

Director · since 22 mars 2021 · until 22 mars 2027

Active

Ended mandates

AMICUS SENIORUM

Managing director · since 22 mars 2021 · until 22 mars 2027 · 0453.322.273

Represented by Anthony Delhauteur

Ended

AMICUS SENIORUM

Managing director · since 31 mars 2015 · until 31 mars 2021 · 0453.322.273

Represented by Anthony Delhauteur

Ended

FREEHOLD

Managing director · since 31 mars 2015 · until 31 mars 2021 · 0507.974.647

Represented by Alexandre de Chaffoy

Ended

ANTHONY DELHAUTEUR

Managing director · since 25 octobre 2010 · until 25 octobre 2016

Ended

At this address

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Magic Tools● Active	0428.258.364
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REHOBOTH● Active	0793.894.223
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VERHULST MEDIASPORT● Active	0420.091.162

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	01/01/2025	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	28/08/2026	29/08/2025	27/09/2024	30/08/2023	04/07/2022	30/08/2021
General meeting	09/06/2026	10/06/2025	11/06/2024	13/06/2023	14/06/2022	08/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	09/06/2026	28/08/2026	French	PDF
Abridged model	31/12/2024	10/06/2025	29/08/2025	French	PDF
Abridged model	31/12/2023	11/06/2024	27/09/2024	French	PDF
Abridged model	31/12/2022	13/06/2023	30/08/2023	French	PDF
Abridged model	31/12/2021	14/06/2022	04/07/2022	Dutch	PDF
Abridged model	31/12/2020	08/06/2021	30/08/2021	Dutch	PDF
Abridged model	31/12/2019	29/06/2020	30/10/2020	Dutch	PDF
Abridged model	31/12/2018	28/06/2019	30/08/2019	Dutch	PDF
Abridged model	31/12/2017	29/06/2018	27/08/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	30/08/2017	Dutch	PDF
Abridged model	31/12/2015	29/06/2016	29/07/2016	Dutch	PDF
Abridged model	31/12/2014	04/06/2015	08/06/2015	French	PDF
Abridged model	31/12/2013	30/06/2014	28/07/2014	Dutch	PDF
Abridged model	31/12/2012	11/06/2013	12/06/2013	Dutch	PDF
Abridged model	30/06/2011	26/09/2011	28/12/2011	Dutch	PDF
Abridged model	30/06/2010	27/09/2010	29/12/2010	French	PDF
Abridged model	30/06/2009	28/09/2009	01/12/2009	French	PDF
Abridged model	30/06/2008	29/09/2008	07/11/2008	French	PDF
Abridged model	30/06/2007	24/09/2007	15/10/2007	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 · 12 ended

Active mandates

Anthony DELHAUTEUR

Représentant permanent · since 20 février 2025

Active

Dimitri VERSCHUEREN

Managing director · since 17 février 2023 · until 17 février 2029

Active

Jonathan JOSSART

Managing director · since 22 mars 2021 · until 22 mars 2027

Active

Michael GOOSSENS

Director · since 22 mars 2021 · until 22 mars 2027

Active

Ended mandates

AMICUS SENIORUM

Managing director · since 22 mars 2021 · until 22 mars 2027 · 0453.322.273

Represented by Anthony Delhauteur

Ended

AMICUS SENIORUM

Managing director · since 31 mars 2015 · until 31 mars 2021 · 0453.322.273

Represented by Anthony Delhauteur

Ended

FREEHOLD

Managing director · since 31 mars 2015 · until 31 mars 2021 · 0507.974.647

Represented by Alexandre de Chaffoy

Ended

ANTHONY DELHAUTEUR

Managing director · since 25 octobre 2010 · until 25 octobre 2016

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates25/02/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DENOMINATION - OBJET - DEMISSIONS, NOMINATIONS
PDF
Mandates20/03/2023
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates12/05/2021
SIEGE SOCIAL - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Capital / shares30/10/2019
BENAMING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office25/09/2018
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares26/05/2016
CAPITAL, ACTIONS
PDF
Mandates25/03/2016
ONTSLAGEN - BENOEMINGEN
PDF
Other13/07/2012
BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 202563,3 k €↑
2024
Annual accounts 202431,2 k €↑
2023
Annual accounts 20235,6 k €↑
2022
Annual accounts 20225,3 k €↓
2021
Annual accounts 202117,8 k €↑
2020
Annual accounts 2020-638,5 k €↓
2019
Annual accounts 20192 k €↑
2018
Annual accounts 20181,1 k €↓
2017
Annual accounts 20175,8 k €↑
2016
Annual accounts 2016815,3 €↑
2015
Annual accounts 2015385,9 €↑
2014
Annual accounts 2014262,8 €↑
2013
Annual accounts 2013247,4 €↓
2012
Annual accounts 2012773,4 €↑
2011
Annual accounts 2011112 €↓
2010
Annual accounts 20107,5 k €↑
2009
Annual accounts 20095,2 k €↑
2008
Annual accounts 20084,1 k €↑
2007
Annual accounts 2007-692 €
26/04/1985
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

VERHULST AND FRIENDS

Overview

What does VERHULST AND FRIENDS 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