ACTIVE

HERSTAL GROUP SERVICES

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Financial year 2025 · closed on 31/12/2025

Net result

2,4 M €

-64.6% YoY

Revenue

1,4 M €

+2.8% YoY

Equity

99,8 M €

+2.4% YoY

Workforce

7,4 ETP

-5.1% YoY

What does HERSTAL GROUP SERVICES do?

HERSTAL GROUP SERVICES is a Public limited company incorporated in 1985. Its main activity is: Activities of head offices. Its registered office is in Herstal. It employs on average 7,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0428.043.380

Incorporation

18/11/1985

Legal form

Public limited company

Registered office

Voie de Liège 33
4040 Herstal · WallonieSee on map

Contributed capital

97 694 839,26 €

Latest accounts

31/12/2025

Average workforce

7,4 ETP

Activities (NACE)

70100Activities of head offices· main 70100Activities of head offices 74152Specialised design activities 74854Other professional, scientific and technical activities 74855Other professional, scientific and technical activities 82100Office administrative and support activities+1

Joint committees (1)

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHigh revenue

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Revenue	1,4 M €	+2.8%	1,4 M €	+7.7%	1,3 M €	+1.2%	1,3 M €	+10.8%	1,1 M €	-9.3%	1,3 M €	-20.8%	1,6 M €	+17.4%	1,4 M €	-8.3%	1,5 M €	+4.4%	1,4 M €	+4.9%	1,3 M €	-0.8%	1,4 M €	+10.3%	1,2 M €	+18.8%	1 M €	-12.3%	1,2 M €	+1.5%	1,2 M €	-3.9%	1,2 M €
EBITDA	89,3 k €	-12.2%	101,7 k €	+103%	50,1 k €	-38.8%	81,9 k €	+35.4%	60,5 k €	-24.3%	79,8 k €	-11.3%	90 k €	+4.5%	86,1 k €	-11.4%	97,2 k €	+6.1%	91,6 k €	+11.4%	82,2 k €	+1.7%	80,8 k €	+17.7%	68,6 k €	+22.6%	56 k €	+747%	6,6 k €	-29.9%	9,4 k €	-64.7%	26,8 k €
Operating result	89,3 k €	-12.2%	101,7 k €	+103%	50,1 k €	-38.8%	81,9 k €	+35.4%	60,5 k €	-24.3%	79,8 k €	-11.3%	90 k €	+4.5%	86,1 k €	-11.4%	97,2 k €	+6.1%	91,6 k €	+11.4%	82,2 k €	+1.7%	80,8 k €	+17.7%	68,6 k €	+22.6%	56 k €	+780%	6,4 k €	-29.5%	9 k €	-65.4%	26 k €
Net result	2,4 M €	-64.6%	6,7 M €	+272%	1,8 M €	+108%	-23,1 M €	-1217%	2,1 M €	+210%	-1,9 M €	-289%	-484,5 k €	+11.1%	-545,1 k €	+95.1%	-11,2 M €	-3036%	-357,9 k €	+92.0%	-4,5 M €	-144%	10,1 M €	+361%	-3,9 M €	-188%	4,4 M €	+39.8%	3,1 M €	+98.6%	1,6 M €	-53.8%	3,4 M €
Balance sheet
Equity	99,8 M €	+2.4%	97,4 M €	+7.4%	90,7 M €	+2.0%	88,9 M €	-20.6%	112 M €	+1.9%	109,9 M €	-1.7%	111,8 M €	-0.4%	112,3 M €	-0.5%	112,8 M €	-9.0%	124,1 M €	-0.3%	124,4 M €	-3.5%	128,9 M €	+8.5%	118,8 M €	-3.2%	122,7 M €	+3.7%	118,3 M €	+2.7%	115,1 M €	+1.4%	113,6 M €
Total assets	313,2 M €	-23.0%	406,9 M €	+19.5%	340,5 M €	+3.5%	328,9 M €	-14.7%	385,6 M €	-11.7%	436,7 M €	+1.2%	431,7 M €	-23.7%	566 M €	+6.8%	529,7 M €	-13.7%	613,5 M €	+9.1%	562,1 M €	+13.6%	494,9 M €	+76.6%	280,2 M €	-0.8%	282,4 M €	+34.5%	209,9 M €	+22.7%	171,1 M €	+14.3%	149,6 M €
Cash	224,7 M €	-1.0%	227 M €	+6.1%	214 M €	+216%	67,8 M €	+7.8%	62,9 M €	-8.9%	69,1 M €	+87.9%	36,8 M €	-62.5%	97,9 M €	+10.3%	88,7 M €	+6.0%	83,7 M €	+104%	41 M €	+274%	11 M €	-43.4%	19,4 M €	-3.4%	20,1 M €	+1.5%	19,8 M €	-2.6%	20,3 M €	+350%	4,5 M €
Debts	211,2 M €	-31.0%	306,1 M €	+25.6%	243,8 M €	+2.3%	238,2 M €	-12.7%	273 M €	-16.2%	325,7 M €	+2.2%	318,8 M €	-29.7%	453,7 M €	+9.3%	415,3 M €	-15.0%	488,7 M €	+12.0%	436,2 M €	+19.2%	365,8 M €	+127%	161,3 M €	+1.3%	159,2 M €	+75.3%	90,8 M €	+65.2%	55 M €	+62.2%	33,9 M €
Other
Workforce	7,4 ETP	-5.1%	7,8 ETP	0.0%	7,8 ETP	+4.0%	7,5 ETP	+10.3%	6,8 ETP	-20.0%	8,5 ETP	-1.2%	8,6 ETP	-2.3%	8,8 ETP	-6.4%	9,4 ETP	+1.1%	9,3 ETP	+5.7%	8,8 ETP	0.0%	8,8 ETP	+1.1%	8,7 ETP	+7.4%	8,1 ETP	-14.7%	9,5 ETP	-1.0%	9,6 ETP	0.0%	9,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 51 ended

Active mandates

Julien COMPERE

Chairman of the board of directors · since 09 novembre 2023 · until 03 juin 2031

Active

France DELOBBE

Director · since 07 juin 2022 · until 03 juin 2031

Active

Baudouin DE HEPCEE

Director · since 01 décembre 2021 · until 03 juin 2031

Active

Baudouin DE HEPCEE

Managing director · since 01 décembre 2021 · until 03 juin 2031

Active

Julien COMPERE

Director · since 01 décembre 2021 · until 03 juin 2031

Active

Ended mandates

Julien COMPERE

Chairman of the board of directors · since 09 novembre 2023 · until 03 juin 2025

Ended

France DELOBBE

Director · since 07 juin 2022 · until 03 juin 2025

Ended

France DELOBBE

Director · since 07 juin 2022 · until 07 juin 2025

Ended

Baudouin DE HEPCEE

Chairman of the board of directors · since 01 décembre 2021 · until 07 juin 2022

Ended

At this address

Other companies at this address

Company	CBE no.
BROWNING● Active	0465.800.136
FN Browning Group● Active	0444.340.370
FN BROWNING GROUP PILLAR 2● Active	1011.666.547
FN HERSTAL● Active	0441.928.931
FONDATION ARS MECHANICA● Active	0899.807.236
FONDS DE PREPENSION HERSTAL asbl● Active	0889.487.921
Logistic Support For Land Systems● Active	1024.310.201

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	22/06/2026	03/07/2025	27/06/2024	26/06/2023	16/06/2022	23/06/2021
General meeting	02/06/2026	03/06/2025	04/06/2024	06/06/2023	07/06/2022	01/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	02/06/2026	22/06/2026	French	PDF
Full modelCorrection	31/12/2024	03/06/2025	03/07/2025	French	PDF
Full model	31/12/2024	03/06/2025	02/07/2025	French	PDF
Full model	31/12/2023	04/06/2024	27/06/2024	French	PDF
Full model	31/12/2022	06/06/2023	26/06/2023	French	PDF
Full model	31/12/2021	07/06/2022	16/06/2022	French	PDF
Full model	31/12/2020	01/06/2021	23/06/2021	French	PDF
Full model	31/12/2019	09/06/2020	02/07/2020	French	PDF
Full model	31/12/2018	04/06/2019	27/06/2019	French	PDF
Full model	31/12/2017	05/06/2018	25/06/2018	French	PDF
Full model	31/12/2016	06/06/2017	22/06/2017	French	PDF
Full model	31/12/2015	07/06/2016	29/06/2016	French	PDF
Full model	31/12/2014	02/06/2015	16/06/2015	French	PDF
Full model	31/12/2013	03/06/2014	26/06/2014	French	PDF
Full model	31/12/2012	04/06/2013	19/06/2013	French	PDF
Full model	31/12/2011	05/06/2012	21/06/2012	French	PDF
Full model	31/12/2010	07/06/2011	05/07/2011	French	PDF
Full model	31/12/2009	01/06/2010	21/06/2010	French	PDF
Full model	31/12/2008	02/06/2009	19/06/2009	French	PDF
Full model	31/12/2007	03/06/2008	27/06/2008	French	PDF
Full model	31/12/2006	05/06/2007	29/06/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 31/12/2025 · 5 active · 51 ended

Active mandates

Julien COMPERE

Chairman of the board of directors · since 09 novembre 2023 · until 03 juin 2031

Active

France DELOBBE

Director · since 07 juin 2022 · until 03 juin 2031

Active

Baudouin DE HEPCEE

Director · since 01 décembre 2021 · until 03 juin 2031

Active

Baudouin DE HEPCEE

Managing director · since 01 décembre 2021 · until 03 juin 2031

Active

Julien COMPERE

Director · since 01 décembre 2021 · until 03 juin 2031

Active

Ended mandates

Julien COMPERE

Chairman of the board of directors · since 09 novembre 2023 · until 03 juin 2025

Ended

France DELOBBE

Director · since 07 juin 2022 · until 03 juin 2025

Ended

France DELOBBE

Director · since 07 juin 2022 · until 07 juin 2025

Ended

Baudouin DE HEPCEE

Chairman of the board of directors · since 01 décembre 2021 · until 07 juin 2022

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates04/09/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates18/07/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates25/01/2024
DEMISSIONS, NOMINATIONS
PDF
Other21/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET
PDF
Mandates26/06/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates24/02/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates23/08/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates23/08/2022
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 20252,4 M €↓
03/06/2025
reconductionJulien COMPERE — Administrateur et Président
03/06/2025
reconductionBaudouin de HEPCEE — Administrateur délégué
03/06/2025
reconductionFrance DELOBBE — Administratrice
2024
Annual accounts 20246,7 M €↑
04/06/2024
nominationPatrick MORTROUX — Commissaire
2023
Annual accounts 20231,8 M €↑
09/11/2023
nominationJulien COMPERE — président du conseil
2022
Annual accounts 2022-23,1 M €↓
07/06/2022
reconductionBaudouin de HEPCÉE — Président du Conseil et Administrateur délégué
07/06/2022
reconductionJulien Compere — administrateur
07/06/2022
reconductionBaudouin de Hepcée — administrateur
07/06/2022
reconductionPhilippe de Bruyne — administrateur
07/06/2022
nominationFrance Delobbe — administrateur
2021
Annual accounts 20212,1 M €↑
2020
Annual accounts 2020-1,9 M €↓
2019
Annual accounts 2019-484,5 k €↑
2018
Annual accounts 2018-545,1 k €↑
2017
Annual accounts 2017-11,2 M €↓
2016
Annual accounts 2016-357,9 k €↑
2015
Annual accounts 2015-4,5 M €↓
2014
Annual accounts 201410,1 M €↑
2013
Annual accounts 2013-3,9 M €↓
2012
Annual accounts 20124,4 M €↑
2011
Annual accounts 20113,1 M €↑
2010
Annual accounts 20101,6 M €↓
2009
Annual accounts 20093,4 M €
18/11/1985
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

HERSTAL GROUP SERVICES

Overview

What does HERSTAL GROUP SERVICES do?

Trend over 17 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