ACTIVE

ESPACES

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Financial year 2025 · closed on 31/12/2025

Net result

26,4 k €

-87.2% YoY

Gross margin

1,5 M €

-1.7% YoY

Equity

864,1 k €

+6.2% YoY

Workforce

24,2 ETP

+13.1% YoY

What does ESPACES do?

ESPACES is a Non-profit organization incorporated in 1986. Its main activity is: Security and investigation activities. Its registered office is in Ciney. It employs on average 24,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0429.229.552

Incorporation

11/03/1986

Legal form

Non-profit organization

Registered office

Lienne 7
5590 Ciney · WallonieSee on map

Latest accounts

31/12/2025

Average workforce

24,2 ETP

Activities (NACE)

80421Security and investigation activities· main 85323Technical and vocational secondary education 85592Other education n.e.c.85592Other education n.e.c.88999Other social work activities without accommodation n.e.c.88999Other social work activities without accommodation n.e.c.

Joint committees (1)

Contacts

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Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	1,5 M €	-1.7%	1,6 M €	+7.3%	1,5 M €	+6.8%	1,4 M €	+9.7%	1,2 M €	+1.1%	1,2 M €	-4.4%	1,3 M €	-4.7%	1,3 M €	+10.8%	1,2 M €	+21.0%	1 M €	-2.2%	1 M €	-0.1%	1 M €	+16.1%	885,8 k €	-9.4%	977,5 k €	+3.3%	946,5 k €	+7.5%	880,8 k €	-0.2%	882,5 k €	-2.6%	905,6 k €	-0.1%	906,8 k €
EBITDA	106,3 k €	-63.2%	289,1 k €	+104%	141,9 k €	-10.9%	159,2 k €	+9.4%	145,4 k €	-0.1%	145,6 k €	+108%	69,9 k €	+31.1%	53,4 k €	+232%	-40,3 k €	-197%	41,7 k €	-28.1%	58 k €	-30.3%	83,2 k €	+161%	-135,7 k €	-534%	-21,4 k €	-197%	22,1 k €	-36.9%	35 k €	-18.1%	42,7 k €	+818%	-5,9 k €	-108%	79,1 k €
Operating result	23,8 k €	-88.2%	201,4 k €	+275%	53,7 k €	-48.2%	103,6 k €	+29.1%	80,2 k €	-8.2%	87,4 k €	+1094%	7,3 k €	+456%	-2,1 k €	+97.6%	-86 k €	-3808%	2,3 k €	-80.0%	11,6 k €	-70.6%	39,4 k €	+123%	-173,8 k €	-169%	-64,7 k €	-646%	-8,7 k €	-357%	3,4 k €	-78.7%	15,8 k €	+132%	-48,9 k €	-280%	27,2 k €
Net result	26,4 k €	-87.2%	206 k €	+282%	54 k €	-43.7%	95,9 k €	-11.1%	107,8 k €	-38.4%	175,1 k €	+1646%	10 k €	+11164%	89 €	+100%	-86,1 k €	-801%	12,3 k €	+0.9%	12,2 k €	-72.9%	44,9 k €	+127%	-166 k €	-194%	-56,4 k €	-73408%	77 €	-98.2%	4,2 k €	-74.2%	16,2 k €	+136%	-44,8 k €	-262%	27,7 k €
Balance sheet
Equity	864,1 k €	+6.2%	813,7 k €	+32.6%	613,7 k €	+19.5%	513,5 k €	+21.9%	421,2 k €	+22.4%	344,1 k €	+140%	143,5 k €	+20.1%	119,5 k €	-2.0%	121,9 k €	-42.1%	210,6 k €	+1.6%	207,2 k €	+4.9%	197,5 k €	+24.9%	158,2 k €	-75.5%	644,4 k €	-5.4%	681,2 k €	+1.5%	671,2 k €	+0.6%	667 k €	+2.5%	650,7 k €	-6.8%	698,4 k €
Total assets	1,3 M €	+7.7%	1,2 M €	+9.1%	1,1 M €	+22.2%	928,5 k €	+23.5%	751,6 k €	+7.0%	702,1 k €	+8.7%	645,9 k €	-5.4%	683 k €	+5.1%	649,9 k €	+4.2%	623,6 k €	-0.1%	624,1 k €	+16.4%	536,2 k €	+9.4%	490,2 k €	-49.9%	977,5 k €	-7.4%	1,1 M €	+7.2%	984,3 k €	+3.5%	951,5 k €	-0.5%	956 k €	-2.9%	984,5 k €
Cash	176,9 k €	+679%	22,7 k €	-45.2%	41,4 k €	-57.3%	97 k €	+22.4%	79,3 k €	+54.7%	51,2 k €	+2315%	2,1 k €	-96.2%	55,3 k €	+5.0%	52,7 k €	+55.1%	33,9 k €	-29.8%	48,4 k €	-18.3%	59,2 k €	+160%	22,8 k €	-71.3%	79,4 k €	+70.4%	46,6 k €	-51.3%	95,7 k €	+178%	34,5 k €	+12.1%	30,8 k €	-38.5%	50 k €
Debts	435,7 k €	+11.6%	390,3 k €	-15.7%	463,3 k €	+16.3%	398,4 k €	+28.4%	310,4 k €	-11.8%	351,7 k €	-22.0%	450,8 k €	-16.7%	541,1 k €	+2.7%	526,7 k €	+29.8%	405,7 k €	-2.0%	413,8 k €	+23.1%	336,2 k €	+2.8%	327,1 k €	+2.8%	318,3 k €	-10.5%	355,8 k €	+20.2%	296 k €	+11.3%	265,9 k €	-8.6%	290,9 k €	+8.6%	267,8 k €
Other
Workforce	24,2 ETP	+13.1%	21,4 ETP	+0.9%	21,2 ETP	-4.1%	22,1 ETP	+2.3%	21,6 ETP	+2.9%	21,0 ETP	+4.0%	20,2 ETP	-13.7%	23,4 ETP	-9.7%	25,9 ETP	+4.0%	24,9 ETP	+5.1%	23,7 ETP	-11.6%	26,8 ETP	-5.6%	28,4 ETP	-1.7%	28,9 ETP	+0.3%	28,8 ETP	+2.9%	28,0 ETP	0.0%	28,0 ETP	-4.4%	29,3 ETP	-20.8%	37,0 ETP

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 31/12/2025 · 5 active · 45 ended

Active mandates

ANDRE-MARIE VIROUX

Chairman of the board of directors

Active

ANN PAQUET

Director

Active

JOSEPH BRISBOIS

Director

Active

KATHERINE FELIX

Director

Active

VALERIE JACMART

Director

Active

Ended mandates

ANDRE-MARIE VIROUX

Chairman of the board of directors · since 18 février 2021

Ended

ANN PAQUET

Director · since 18 février 2021

Ended

MICHEL THOMAS

Director · since 18 février 2021

Ended

VALERIE JACMART

Director · since 18 février 2021

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	01/01/2025	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	17/07/2026	07/07/2025	10/07/2024	21/06/2023	07/07/2022	21/06/2021
General meeting	18/06/2026	18/06/2025	27/06/2024	08/06/2023	23/06/2022	18/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	18/06/2026	17/07/2026	French	PDF
Abridged model	31/12/2024	18/06/2025	07/07/2025	French	PDF
Abridged model	31/12/2023	27/06/2024	10/07/2024	French	PDF
Abridged model	31/12/2022	08/06/2023	21/06/2023	French	PDF
Abridged model	31/12/2021	23/06/2022	07/07/2022	French	PDF
Abridged model	31/12/2020	18/06/2021	21/06/2021	French	PDF
Abridged model	31/12/2019	12/08/2020	21/10/2020	French	PDF
Abridged model	31/12/2018	12/06/2019	23/08/2019	French	PDF
Abridged model	31/12/2017	19/06/2018	25/06/2019	French	PDF
Abridged model	31/12/2016	07/06/2017	18/08/2017	French	PDF
Abridged model	31/12/2015	01/06/2016	12/07/2016	French	PDF
Abridged model	31/12/2014	10/06/2015	26/06/2015	French	PDF
Abridged model	31/12/2013	11/06/2014	04/08/2014	French	PDF
Abridged model	31/12/2012	30/05/2013	27/08/2013	French	PDF
Abridged model	31/12/2011	30/05/2012	12/06/2012	French	PDF
Abridged model	31/12/2010	25/05/2011	27/06/2011	French	PDF
Abridged model	31/12/2009	09/06/2010	06/08/2010	French	PDF
Abridged model	31/12/2008	27/05/2009	18/08/2009	French	PDF
Abridged model	31/12/2007	09/04/2008	16/05/2008	French	PDF
Abridged model	31/12/2006	30/05/2007	02/08/2007	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 31/12/2025 · 5 active · 45 ended

Active mandates

ANDRE-MARIE VIROUX

Chairman of the board of directors

Active

ANN PAQUET

Director

Active

JOSEPH BRISBOIS

Director

Active

KATHERINE FELIX

Director

Active

VALERIE JACMART

Director

Active

Ended mandates

ANDRE-MARIE VIROUX

Chairman of the board of directors · since 18 février 2021

Ended

ANN PAQUET

Director · since 18 février 2021

Ended

MICHEL THOMAS

Director · since 18 février 2021

Ended

VALERIE JACMART

Director · since 18 février 2021

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates13/03/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates18/02/2021
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates26/09/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates14/12/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates01/02/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates27/07/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates22/07/2016
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates04/08/2015
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 202526,4 k €↓
2024
Annual accounts 2024206 k €↑
2023
Annual accounts 202354 k €↓
2022
Annual accounts 202295,9 k €↓
2021
Annual accounts 2021107,8 k €↓
2020
Annual accounts 2020175,1 k €↑
2019
Annual accounts 201910 k €↑
2018
Annual accounts 201889 €↑
2017
Annual accounts 2017-86,1 k €↓
2016
Annual accounts 201612,3 k €↑
2015
Annual accounts 201512,2 k €↓
2014
Annual accounts 201444,9 k €↑
2013
Annual accounts 2013-166 k €↓
2012
Annual accounts 2012-56,4 k €↓
2011
Annual accounts 201177 €↓
2010
Annual accounts 20104,2 k €↓
2009
Annual accounts 200916,2 k €↑
2008
Annual accounts 2008-44,8 k €↓
2007
Annual accounts 200727,7 k €
11/03/1986
IncorporationNon-profit organization

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

ESPACES

Overview

What does ESPACES 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