ACTIVE

EAU-COURANT

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Financial year 2025 · Closed on 31/12/2025

Net result45,9 k €-36,6 %over 1 year

Gross margin1,5 M €+4,8 %over 1 year

Equity592,1 k €-2,6 %over 1 year

Workforce30,5 ETP-1,6 %over 1 year

Identity

Source · BCE/KBO

EAU-COURANT is a Private limited company incorporated in 1986. Its registered office is in Molenbeek-Saint-Jean. It employs on average 30,5 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0428.930.040
Incorporation: 02/06/1986
Legal form: Private limited company
Registered office: Rue de la Borne 30
1080 Molenbeek-Saint-Jean · BruxellesSee on map
Contributed capital: 75 000,00 €
Latest accounts: 31/12/2025
Average workforce: 30,5 ETP

Joint committees (3)

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 22 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	1,5 M €	+4.8%	1,4 M €	+2.2%	1,4 M €	+22.5%	1,1 M €	-10.7%	1,3 M €
EBITDA	187,5 k €	+1.5%	184,7 k €	-43.1%	324,4 k €	+101%	161,1 k €	+55.2%	103,8 k €
Operating result	83,6 k €	-22.8%	108,3 k €	-52.9%	230,2 k €	+312%	55,8 k €	+58.4%	35,2 k €
Net result	45,9 k €	-36.6%	72,3 k €	-51.7%	149,9 k €	+492%	25,3 k €	+125%	11,3 k €
Balance sheet
Equity	592,1 k €	-2.6%	607,6 k €	+2.7%	591,7 k €	-5.1%	623,8 k €	-0.7%	628,5 k €
Total assets	1,7 M €	+15.1%	1,5 M €	+5.4%	1,4 M €	+3.2%	1,3 M €	-3.7%	1,4 M €
Cash	52,6 k €	-67.2%	160,3 k €	-10.5%	179,2 k €	-36.8%	283,5 k €	+350%	63,1 k €
Debts	1,1 M €	+27.9%	842,8 k €	+7.7%	782,9 k €	+10.5%	708,5 k €	-6.1%	754,9 k €
Other
Workforce	30,5 ETP	-1.6%	31,0 ETP	+6.9%	29,0 ETP	+15.5%	25,1 ETP	-19.6%	31,2 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 34 ended

Active mandates

Gervais Muhire

Director · until 31 août 2025

Active

Joao Azinheira

Chairman of the board of directors

Active

Tadeusz Pogwizd

Director

Active

Ended mandates

Bernard CASSIERS

Director · since 23 mai 2013 · until 23 mai 2017

Ended

Bernard CASSIERS

Director · since 23 mai 2013 · until 23 mai 2021

Ended

Gervais MUHIRE

Chairman of the board of directors · since 23 mai 2013 · until 23 mai 2017

Ended

Gervais MUHIRE

Chairman of the board of directors · since 23 mai 2013 · until 23 mai 2021

Ended

Full financial information

Source · NBB

	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	31/07/2026	30/07/2025	30/08/2024	03/07/2023	04/07/2022	20/07/2021
General meeting	30/06/2026	30/06/2025	28/06/2024	15/06/2023	21/06/2022	29/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 22 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	31/07/2026	French	PDF
Abridged model	31/12/2024	30/06/2025	30/07/2025	French	PDF
Abridged model	31/12/2023	28/06/2024	30/08/2024	French	PDF
Abridged model	31/12/2022	15/06/2023	03/07/2023	French	PDF
Abridged model	31/12/2021	21/06/2022	04/07/2022	French	PDF
Abridged model	31/12/2020	29/06/2021	20/07/2021	French	PDF
Abridged model	31/12/2019	24/07/2020	27/08/2020	French	PDF
Abridged model	31/12/2018	28/06/2019	11/07/2019	French	PDF
Abridged modelCorrection	31/12/2017	15/06/2018	19/07/2018	French	PDF
Abridged model	31/12/2017	15/06/2018	12/07/2018	French	PDF
Abridged model	31/12/2016	16/06/2017	13/07/2017	French	PDF
Abridged model	31/12/2015	28/06/2016	27/07/2016	French	PDF
Abridged model	31/12/2014	02/06/2015	01/07/2015	French	PDF
Abridged model	31/12/2013	16/05/2014	17/06/2014	French	PDF
Abridged model	31/12/2012	23/05/2013	23/07/2013	French	PDF
Abridged model	31/12/2011	15/05/2012	28/07/2012	French	PDF
Abridged model	31/12/2010	05/06/2011	20/07/2011	French	PDF
Abridged modelCorrection	31/12/2009	05/05/2010	10/05/2011	French	PDF
Abridged model	31/12/2009	05/05/2010	28/06/2010	French	PDF
Abridged model	31/12/2008	15/04/2009	17/06/2009	French	PDF
Abridged model	31/12/2007	13/05/2008	02/06/2008	French	PDF
Abridged model	31/12/2006	24/04/2007	13/07/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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.

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 34 ended

Active mandates

Gervais Muhire

Director · until 31 août 2025

Active

Joao Azinheira

Chairman of the board of directors

Active

Tadeusz Pogwizd

Director

Active

Ended mandates

Bernard CASSIERS

Director · since 23 mai 2013 · until 23 mai 2017

Ended

Bernard CASSIERS

Director · since 23 mai 2013 · until 23 mai 2021

Ended

Gervais MUHIRE

Chairman of the board of directors · since 23 mai 2013 · until 23 mai 2017

Ended

Gervais MUHIRE

Chairman of the board of directors · since 23 mai 2013 · until 23 mai 2021

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates28/11/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates10/06/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates30/10/2023
MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates14/06/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates11/06/2021
DEMISSIONS, NOMINATIONS
PDF
Registered office12/10/2017
SIEGE SOCIAL
PDF
Mandates24/05/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates11/06/2014
DEMISSIONS, NOMINATIONS
PDF

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A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

2025
Annual accounts 202545,9 k €↓
2024
Annual accounts 202472,3 k €↓
2023
Annual accounts 2023149,9 k €↑
2022
Annual accounts 202225,3 k €↑
2021
Annual accounts 202111,3 k €↓
2020
Annual accounts 202056,7 k €↑
2019
Annual accounts 201947,6 k €↓
2018
Annual accounts 201875,3 k €↑
2017
Annual accounts 201745,8 k €↓
2016
Annual accounts 201653,3 k €↓
2015
Annual accounts 2015101,5 k €↑
2014
Annual accounts 201487 k €↑
2013
Annual accounts 201343 k €↑
2012
Annual accounts 20129,8 k €↓
2011
Annual accounts 201193,1 k €↑
2010
Annual accounts 201073,2 k €↑
2009
Annual accounts 200941,9 k €↑
2008
Annual accounts 200824,6 k €↓
2007
Annual accounts 200751,2 k €↑
2006
Annual accounts 200622,1 k €
02/06/1986
IncorporationPrivate limited company

EAU-COURANT

Overview

Identity

Financials

Valuation

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

Timeline