ACTIVE

HERBALGEM

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Financial year 2025 · closed on 31/12/2025

Net result

4,7 M €

+11.7% YoY

Revenue

10,8 M €

+8.8% YoY

Equity

2,3 M €

0.0% YoY

Workforce

13,3 ETP

-15.3% YoY

What does HERBALGEM do?

HERBALGEM is a Public limited company incorporated in 1986. Its main activity is: Growing of rice. Its registered office is in Vielsalm. It employs on average 13,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0428.484.929

Incorporation

06/02/1986

Legal form

Public limited company

Registered office

Place des Chasseurs Ardennais S/N
6690 Vielsalm · WallonieSee on map

Contributed capital

96 910,07 €

Latest accounts

31/12/2025

Average workforce

13,3 ETP

Activities (NACE)

01121Growing of rice· main 01130Growing of vegetables and melons, roots and tubers 01130Growing of vegetables and melons, roots and tubers 20530Manufacture of essential oils 20590Manufacture of other chemical products n.e.c.46220Wholesale of flowers and plants+5

Joint committees (5)

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	10,8 M €	+8.8%	9,9 M €	-22.0%	12,7 M €	+12.7%	11,3 M €	+26.0%	8,9 M €	-28.4%	12,5 M €	+36.9%	9,1 M €	+2.3%	8,9 M €	+19.4%	7,5 M €	-13.6%	8,7 M €	+7.0%	8,1 M €	+8.1%	7,5 M €	+13.6%	6,6 M €	+6.9%	6,2 M €		–		–		–		–
EBITDA	6,7 M €	+16.4%	5,8 M €	-25.9%	7,8 M €	+17.8%	6,6 M €	+20.9%	5,5 M €	-27.5%	7,6 M €	+51.4%	5 M €	-9.0%	5,5 M €	+13.8%	4,8 M €	-14.3%	5,6 M €	+27.4%	4,4 M €	+7.4%	4,1 M €	+17.9%	3,5 M €	+16.2%	3 M €	+14.1%	2,6 M €	+21.0%	2,2 M €	+61.4%	1,3 M €	+60.6%	837,2 k €
Operating result	6,4 M €	+14.8%	5,6 M €	-27.0%	7,7 M €	+20.0%	6,4 M €	+20.5%	5,3 M €	-28.0%	7,4 M €	+52.8%	4,8 M €	-9.7%	5,3 M €	+14.1%	4,7 M €	-15.2%	5,5 M €	+29.6%	4,3 M €	+7.6%	4 M €	+18.5%	3,3 M €	+16.6%	2,9 M €	+15.1%	2,5 M €	+20.7%	2,1 M €	+65.0%	1,2 M €	+65.6%	753,5 k €
Net result	4,7 M €	+11.7%	4,2 M €	-27.5%	5,9 M €	+18.4%	5 M €	+19.5%	4,1 M €	-26.5%	5,6 M €	+58.2%	3,6 M €	-8.3%	3,9 M €	+19.6%	3,3 M €	-11.1%	3,7 M €	+28.5%	2,8 M €	+12.2%	2,5 M €	+14.3%	2,2 M €	+13.4%	2 M €	+19.5%	1,6 M €	+15.7%	1,4 M €	+69.0%	837,1 k €	+53.6%	545,1 k €
Balance sheet
Equity	2,3 M €	0.0%	2,3 M €	0.0%	2,3 M €	-64.3%	6,4 M €	+0.0%	6,4 M €	-76.4%	27,3 M €	+26.0%	21,7 M €	+19.7%	18,1 M €	+27.4%	14,2 M €	+102%	7 M €	+109%	3,4 M €	+543%	522,9 k €	+32.6%	394,3 k €	-24.5%	522,6 k €	-82.4%	3 M €	+132%	1,3 M €	+28.3%	996,7 k €	+31.2%	759,6 k €
Total assets	8 M €	-3.0%	8,3 M €	-81.2%	44 M €	+17.4%	37,4 M €	+16.1%	32,2 M €	+13.1%	28,5 M €	+23.3%	23,1 M €	+20.8%	19,1 M €	+14.9%	16,7 M €	+72.7%	9,6 M €	+124%	4,3 M €	-4.6%	4,5 M €	+42.9%	3,2 M €	-12.9%	3,6 M €	+12.2%	3,2 M €	+23.6%	2,6 M €	+49.8%	1,7 M €	+38.0%	1,3 M €
Cash	450,5 k €	+37.4%	327,9 k €	-52.0%	683,6 k €	+34.1%	509,9 k €	-13.7%	590,8 k €	+4.9%	563,3 k €	-1.3%	570,9 k €	+128%	250,3 k €	+76.6%	141,8 k €	-57.2%	331,3 k €	-46.1%	615 k €	-54.8%	1,4 M €	+86.8%	728,6 k €	-24.5%	964,9 k €	+17.5%	821,2 k €	+25.4%	654,8 k €	-25.1%	874,3 k €	+187%	304,3 k €
Debts	5,7 M €	-5.0%	6 M €	-85.7%	41,7 M €	+34.7%	30,9 M €	+19.9%	25,8 M €	+2027%	1,2 M €	-17.4%	1,5 M €	+41.1%	1 M €	-57.5%	2,5 M €	-5.1%	2,6 M €	+220%	807,9 k €	-78.5%	3,8 M €	+37.2%	2,7 M €	-11.1%	3,1 M €	+1056%	267,2 k €	-80.1%	1,3 M €	+78.5%	751,5 k €	+48.1%	507,3 k €
Other
Workforce	13,3 ETP	-15.3%	15,7 ETP	-14.7%	18,4 ETP	-15.2%	21,7 ETP	+11.9%	19,4 ETP	-16.0%	23,1 ETP	-0.9%	23,3 ETP	+26.6%	18,4 ETP	+2.8%	17,9 ETP	-17.1%	21,6 ETP	-18.5%	26,5 ETP	+16.2%	22,8 ETP	+8.6%	21,0 ETP	0.0%	21,0 ETP	+29.6%	16,2 ETP	+40.9%	11,5 ETP	+1.8%	11,3 ETP	+2.7%	11,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 30 ended

Active mandates

INULA

Managing director · since 22 décembre 2023 · until 15 juin 2029 · 0833.570.389

Represented by Stéphanie GHEYSENS

Active

Inula Holding SAS

Managing director · since 22 décembre 2023 · until 15 juin 2029

Represented by Paul-François COSSA

Active

Ended mandates

Christine Le Flecher

Managing director · since 22 décembre 2023 · until 15 juin 2029

Ended

Stéphanie Gheysens

Director · since 23 septembre 2022 · until 23 mars 2028

Ended

INULA

Managing director · since 11 décembre 2018 · until 28 mars 2024 · 0833.570.389

Represented by Christine LE FLECHER

Ended

INULA

Managing director · since 11 décembre 2018 · until 31 mai 2024 · 0833.570.389

Represented by Laurent GERARD

Ended

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	25/06/2026	23/06/2025	24/06/2024	07/04/2023	17/06/2022	22/06/2021
General meeting	19/06/2026	20/06/2025	21/06/2024	24/03/2023	27/05/2022	28/05/2021
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

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	19/06/2026	25/06/2026	French	PDF
Full model	31/12/2024	20/06/2025	23/06/2025	French	PDF
Full model	31/12/2023	21/06/2024	24/06/2024	French	PDF
Full model	31/12/2022	24/03/2023	07/04/2023	French	PDF
Full model	31/12/2021	27/05/2022	17/06/2022	French	PDF
Full model	31/12/2020	28/05/2021	22/06/2021	French	PDF
Full model	31/12/2019	29/05/2020	09/06/2020	French	PDF
Full model	31/12/2018	31/05/2019	01/08/2019	French	PDF
Full model	31/12/2017	25/05/2018	05/07/2018	French	PDF
Full modelCorrection	31/12/2016	26/05/2017	29/08/2017	French	PDF
Full model	31/12/2016	26/05/2017	10/07/2017	French	PDF
Full model	31/12/2015	27/05/2016	27/06/2016	French	PDF
Full model	31/12/2014	29/05/2015	15/07/2015	French	PDF
Full model	31/12/2013	30/05/2014	28/07/2014	French	PDF
Full model	31/12/2012	25/03/2013	27/05/2013	French	PDF
Full modelCorrection	31/12/2011	23/03/2012	31/08/2012	French	PDF
Full model	31/12/2011	23/03/2012	04/05/2012	French	PDF
Full model	31/12/2010	16/03/2011	17/05/2011	French	PDF
Abridged model	31/12/2009	30/06/2010	23/08/2010	French	PDF
Abridged model	31/12/2008	22/05/2009	06/08/2009	French	PDF
Abridged model	31/12/2007	05/04/2008	29/08/2008	French	PDF
Abridged model	31/12/2006	25/05/2007	30/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 · 2 active · 30 ended

Active mandates

INULA

Managing director · since 22 décembre 2023 · until 15 juin 2029 · 0833.570.389

Represented by Stéphanie GHEYSENS

Active

Inula Holding SAS

Managing director · since 22 décembre 2023 · until 15 juin 2029

Represented by Paul-François COSSA

Active

Ended mandates

Christine Le Flecher

Managing director · since 22 décembre 2023 · until 15 juin 2029

Ended

Stéphanie Gheysens

Director · since 23 septembre 2022 · until 23 mars 2028

Ended

INULA

Managing director · since 11 décembre 2018 · until 28 mars 2024 · 0833.570.389

Represented by Christine LE FLECHER

Ended

INULA

Managing director · since 11 décembre 2018 · until 31 mai 2024 · 0833.570.389

Represented by Laurent GERARD

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/07/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates25/09/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates07/07/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates15/02/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates24/04/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates08/11/2022
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates20/06/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates29/12/2021
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 20254,7 M €↑
2024
Annual accounts 20244,2 M €↓
2023
Annual accounts 20235,9 M €↑
2022
Annual accounts 20225 M €↑
2021
Annual accounts 20214,1 M €↓
2020
Annual accounts 20205,6 M €↑
2019
Annual accounts 20193,6 M €↓
2018
Annual accounts 20183,9 M €↑
2017
Annual accounts 20173,3 M €↓
2014
Annual accounts 20143,7 M €↑
2013
Annual accounts 20132,8 M €↑
2012
Annual accounts 20122,5 M €↑
2011
Annual accounts 20112,2 M €↑
2010
Annual accounts 20102 M €↑
2009
Annual accounts 20091,6 M €↑
2008
Annual accounts 20081,4 M €↑
2007
Annual accounts 2007837,1 k €↑
2006
Annual accounts 2006545,1 k €
06/02/1986
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

HERBALGEM

Overview

What does HERBALGEM do?

Trend over 18 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