ACTIVE

GESPAC

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Financial year 2025 · Closed on 31/12/2025

Net result95,1 k €+100,8 %over 1 year

Revenue659 k €+16,9 %over 1 year

Equity455,9 k €+26,4 %over 1 year

Workforce1,0 ETP0,0 %over 1 year

Identity

Source · BCE/KBO

GESPAC is a Public limited company incorporated in 1987. Its registered office is in Liège. It employs on average 1,0 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0431.311.488
Incorporation: 26/05/1987
Legal form: Public limited company
Registered office: Boulevard Piercot 33 box 7
4000 Liège · WallonieSee on map
Contributed capital: 61 973,38 €
Latest accounts: 31/12/2025
Average workforce: 1,0 ETP

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 31 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	659 k €	+16.9%	563,6 k €	+13.6%	496 k €	+7.4%	461,6 k €	+11.8%	413,1 k €
EBITDA	103,4 k €	+22.2%	84,6 k €	+17.1%	72,3 k €	+5.4%	68,5 k €	-11.3%	77,3 k €
Operating result	67,6 k €	+10.9%	60,9 k €	+37.7%	44,3 k €	-6.4%	47,3 k €	-0.5%	47,5 k €
Net result	95,1 k €	+101%	47,4 k €	+43.1%	33,1 k €	-7.4%	35,8 k €	-3.4%	37 k €
Balance sheet
Equity	455,9 k €	+26.4%	360,8 k €	+13.0%	319,4 k €	+9.3%	292,3 k €	+11.3%	262,5 k €
Total assets	599,6 k €	+33.6%	448,9 k €	+11.4%	403,1 k €	+7.9%	373,7 k €	+14.5%	326,4 k €
Cash	306,3 k €	+40.9%	217,4 k €	+9.9%	197,9 k €	-22.4%	255,1 k €	+18.8%	214,7 k €
Debts	143,6 k €	+63.0%	88,1 k €	+5.3%	83,7 k €	+2.9%	81,3 k €	+27.4%	63,8 k €
Other
Workforce	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 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

4 active · 21 ended

Active mandates

Michel HEMBERG

Managing director · since 22 décembre 2025 · until 26 mai 2031

Active

Thierry LEVINTOFF

Director · since 22 décembre 2025 · until 26 mai 2031

Active

Christian THIOUX

Managing director · since 26 mai 2023 · until 22 décembre 2025

Active

Etienne MAWET

Director · since 26 mai 2023 · until 22 décembre 2025

Active

Ended mandates

Etienne Mawet

Director · since 27 novembre 2023 · until 27 novembre 2029

Ended

Christian Thioux

Managing director · since 26 octobre 2023 · until 26 octobre 2029

Ended

Etienne Mawet

Director · since 27 novembre 2017 · until 27 novembre 2023

Ended

Christian Thioux

Managing director · since 26 octobre 2017 · until 26 octobre 2023

Ended

Other companies at this address

Boulevard Piercot 33 4000 Liège

Company	CBE no.
ALMA● Active	0716.722.706
Association des Copropriétaires Résidence Le Parthénon à Liège Boulevard Piercot 33● Active	0850.234.001
CABINET MEDICAL CATHERINE MOREAU● Active	0869.730.209
CANELLA HOLDINGS● Active	0446.598.787
CKCM● Active	0842.466.378
CRAM● Active	0437.876.113
CW PSYCHIATRY● Active	1028.883.057
David Expert Nutrithérapie● Active	0764.486.692
Docteur Christelle GRAAS● Active	1002.809.853
FISCAL CONSULTANT● Active	0871.091.969
IMMOGES● Active	0431.783.226
J-R T● Active	0474.487.079
LOJEPHI● Liquidation	0599.806.329
NOVERIA● Active	0631.855.921
PYRAMIDE - EUROPE● Liquidation	0440.383.463
SICALA● Active	0749.672.913

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	01/07/2026	12/06/2025	01/07/2024	28/06/2023	24/06/2022	28/06/2021
General meeting	26/06/2026	30/05/2025	31/05/2024	26/05/2023	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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 31 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/06/2026	01/07/2026	French	PDF
Abridged model	31/12/2024	30/05/2025	12/06/2025	French	PDF
Abridged model	31/12/2023	31/05/2024	01/07/2024	French	PDF
Abridged model	31/12/2022	26/05/2023	28/06/2023	French	PDF
Abridged model	31/12/2021	27/05/2022	24/06/2022	French	PDF
Abridged model	31/12/2020	28/05/2021	28/06/2021	French	PDF
Abridged model	31/12/2019	29/05/2020	20/07/2020	French	PDF
Abridged model	31/12/2018	31/05/2019	10/07/2019	French	PDF
Abridged model	31/12/2017	25/05/2018	18/06/2018	French	PDF
Abridged model	31/12/2016	31/05/2017	20/07/2017	French	PDF
Abridged model	31/12/2015	27/05/2016	16/07/2016	French	PDF
Abridged model	31/12/2014	29/05/2015	20/07/2015	French	PDF
Abridged model	31/12/2013	30/05/2014	21/07/2014	French	PDF
Abridged model	31/12/2012	31/05/2013	11/07/2013	French	PDF
Abridged model	31/12/2011	25/05/2012	03/08/2012	French	PDF
Abridged model	31/12/2010	27/05/2011	26/07/2011	French	PDF
Abridged model	31/12/2009	28/05/2010	27/07/2010	French	PDF
Abridged model	31/12/2008	29/05/2009	12/07/2009	French	PDF
Abridged model	31/12/2007	30/05/2008	01/07/2008	French	PDF
Abridged model	31/12/2006	25/05/2007	09/07/2007	French	PDF
Abridged model	31/12/2005	26/05/2006	26/06/2006	French	PDF
Abridged model	31/12/2004	27/05/2005	24/06/2005	French	PDF
Abridged model	31/12/2003	30/06/2004	28/07/2004	French	PDF
Abridged model	31/12/2002	31/05/2003	01/07/2003	French	PDF
Abridged model	31/12/2000	25/05/2001	09/07/2001	French	PDF
Abridged model	31/12/1999	26/05/2000	10/07/2000	French	PDF
Abridged model	31/12/1998	28/05/1999	21/09/1999	French	PDF
Abridged model	31/12/1997	29/05/1998	20/10/1998	French	—
Abridged model	31/12/1996	30/05/1997	10/07/1997	French	—
Abridged model	31/12/1995	04/06/1996	28/06/1996	French	—
Abridged model	31/12/1994	26/05/1995	09/08/1995	French	—

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

4 active · 21 ended

Active mandates

Michel HEMBERG

Managing director · since 22 décembre 2025 · until 26 mai 2031

Active

Thierry LEVINTOFF

Director · since 22 décembre 2025 · until 26 mai 2031

Active

Christian THIOUX

Managing director · since 26 mai 2023 · until 22 décembre 2025

Active

Etienne MAWET

Director · since 26 mai 2023 · until 22 décembre 2025

Active

Ended mandates

Etienne Mawet

Director · since 27 novembre 2023 · until 27 novembre 2029

Ended

Christian Thioux

Managing director · since 26 octobre 2023 · until 26 octobre 2029

Ended

Etienne Mawet

Director · since 27 novembre 2017 · until 27 novembre 2023

Ended

Christian Thioux

Managing director · since 26 octobre 2017 · until 26 octobre 2023

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Restructuring12/05/2026
RUBRIQUE FIN (CESSATION, ANNULATION CESSATION, NULLITE, CONC, REORGANISATION JUDICIAIRE, ETC...) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring13/02/2026
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates19/01/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates22/02/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates12/01/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates10/02/2012
OBJET - DEMISSIONS, NOMINATIONS
PDF
Mandates12/12/2007
DEMISSIONS, NOMINATIONS
PDF
Mandates19/09/2006
SIEGE SOCIAL - OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF

Similar companies

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

See the Business plan

Timeline

2025
Annual accounts 202595,1 k €↑
2024
Annual accounts 202447,4 k €↑
2023
Annual accounts 202333,1 k €↓
2022
Annual accounts 202235,8 k €↓
2021
Annual accounts 202137 k €↑
2020
Annual accounts 202028,4 k €↑
2019
Annual accounts 201914,5 k €↑
2018
Annual accounts 201810,3 k €↓
2017
Annual accounts 201710,8 k €↓
2016
Annual accounts 201616,3 k €↑
2015
Annual accounts 201511,1 k €↑
2014
Annual accounts 20148,4 k €↑
2013
Annual accounts 20133,3 k €↓
2012
Annual accounts 20124,3 k €↑
2011
Annual accounts 20113,8 k €↓
2010
Annual accounts 201015,6 k €↓
2009
Annual accounts 200929,5 k €↑
2008
Annual accounts 200817 k €↑
2007
Annual accounts 20071,4 k €↓
2006
Annual accounts 200610,5 k €
26/05/1987
IncorporationPublic limited company

GESPAC

Overview

Identity

Financials

Valuation

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

Timeline