ACTIVE

VAL 33

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Financial year 2025 · closed on 31/12/2025

Net result

24,2 k €

-70.9% YoY

Gross margin

136,8 k €

-29.5% YoY

Equity

2,2 M €

+2.9% YoY

What does VAL 33 do?

VAL 33 is a Public limited company incorporated in 1987. Its main activity is: Museums activities. Its registered office is in Ixelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0431.536.667

Incorporation

26/06/1987

Legal form

Public limited company

Registered office

Avenue Louise 224
1050 Ixelles · BruxellesSee on map

Contributed capital

500 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

91020Museums activities· main 91210Libraries, archives, museums and other cultural activities

Joint committees (2)

Signals

ProfitableSolid equityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2020		2019		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	136,8 k €	-29.5%	193,9 k €	-9.7%	214,7 k €	+83.5%	117 k €	+1.1%	115,7 k €	+634%	-21,7 k €	-131%	70,9 k €	+298%	17,8 k €	+52.5%	11,7 k €	-66.1%	34,5 k €	+67.6%	20,6 k €	+27.3%	16,2 k €	-20.3%	20,3 k €	-33.3%	30,4 k €	+10.1%	27,7 k €	-46.4%	51,6 k €
EBITDA	124,7 k €	-32.1%	183,6 k €	-9.8%	203,5 k €	+90.6%	106,8 k €	+1.0%	105,7 k €	+451%	-30,2 k €	-165%	46,7 k €	+271%	12,6 k €	+96.0%	6,4 k €	-77.6%	28,7 k €	+83.5%	15,7 k €	+35.2%	11,6 k €	-21.5%	14,8 k €	-39.3%	24,3 k €	+14.4%	21,2 k €	-53.6%	45,8 k €
Operating result	-43 k €	-259%	27 k €	-68.4%	85,5 k €	+293%	21,7 k €	-56.9%	50,4 k €	+163%	-80,1 k €	-759%	12,2 k €	+19.5%	10,2 k €	+269%	2,8 k €	-88.8%	24,6 k €	+132%	10,6 k €	+174%	3,9 k €	-42.6%	6,7 k €	-57.7%	15,9 k €	+19.0%	13,4 k €	-65.9%	39,3 k €
Net result	24,2 k €	-70.9%	83,1 k €	-21.9%	106,5 k €	+222%	33,1 k €	-73.0%	122,5 k €	+300%	-61,2 k €	-308%	29,5 k €	+414%	5,7 k €	+155%	2,3 k €	-87.3%	17,7 k €	+104%	8,7 k €	+258%	2,4 k €	+282%	635,3 €	-91.2%	7,2 k €	+41.0%	5,1 k €	-78.7%	23,9 k €
Balance sheet
Equity	2,2 M €	+2.9%	2,1 M €	+12.5%	1,9 M €	+34.5%	1,4 M €	+45.0%	961,7 k €	+16.2%	827,9 k €	-7.0%	890,5 k €	+31.3%	678,4 k €	+0.8%	673 k €	+0.2%	671,7 k €	+2.6%	654,9 k €	+1.2%	647,2 k €	+0.2%	645,7 k €	-0.0%	646 k €	+1.3%	637,6 k €	+0.9%	631,6 k €
Total assets	3,1 M €	-3.5%	3,2 M €	+8.5%	3 M €	+18.1%	2,5 M €	+52.4%	1,6 M €	+12.4%	1,5 M €	+32.2%	1,1 M €	+25.7%	879,6 k €	+1.1%	869,7 k €	-0.4%	873,3 k €	+2.7%	850,4 k €	+0.3%	847,6 k €	-4.6%	888,5 k €	+0.8%	881 k €	+2.0%	863,5 k €	+1.7%	849,1 k €
Cash	74,2 k €	+353%	16,4 k €	-82.8%	95,5 k €	+509%	15,7 k €	-83.8%	96,8 k €	+130%	42,1 k €	-65.8%	123,2 k €	+38.9%	88,7 k €	-41.1%	150,6 k €	+3.3%	145,8 k €	+18.9%	122,7 k €	+7.9%	113,7 k €	-23.8%	149,2 k €	+79.9%	82,9 k €	+329%	19,3 k €	-16.4%	23,1 k €
Debts	563,6 k €	-17.5%	683,2 k €	-12.8%	783,3 k €	-16.0%	932,6 k €	+46.4%	637,2 k €	+7.5%	592,6 k €	+263%	163,1 k €	-18.8%	200,8 k €	+2.4%	196 k €	-2.1%	200,2 k €	+3.3%	193,9 k €	-2.3%	198,4 k €	-17.4%	240,2 k €	+3.6%	232 k €	+3.8%	223,5 k €	+3.7%	215,5 k €
Other
Workforce	–		–		–		–		–		–		–		0,1 ETP	0.0%	0,1 ETP	0.0%	0,1 ETP	0.0%	0,1 ETP	0.0%	0,1 ETP	-50.0%	0,2 ETP	0.0%	0,2 ETP	0.0%	0,2 ETP	-50.0%	0,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 15 ended

Active mandates

ATRAXYS

Managing director · since 08 décembre 2018 · until 02 mai 2023 · 0876.981.948

Represented by Alexandre Wittamer

Active

Fabrice Mourlon-Beernaert

Director · since 08 décembre 2018 · until 02 mai 2024

Active

Ended mandates

Michel Wittamer

Managing director · since 05 mai 2017 · until 08 décembre 2018

Ended

Michel Wittamer

Managing director · since 05 mai 2017 · until 02 mai 2023

Ended

ATRAXYS

Director · since 05 avril 2017 · until 07 décembre 2018 · 0876.981.948

Represented by Alexandre Wittamer

Ended

ATRAXYS

Director · since 05 avril 2017 · until 02 mai 2023 · 0876.981.948

Represented by Alexandre Wittamer

Ended

At this address

Other companies at this address

Company	CBE no.
SOLVAY HOUSE● Active	0845.609.772

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	28/08/2026	25/08/2025	20/07/2024	31/08/2023	29/08/2022	29/08/2021
General meeting	19/08/2026	11/08/2025	18/07/2024	17/06/2023	17/06/2022	17/06/2021
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
Micro model	31/12/2025	19/08/2026	28/08/2026	French	PDF
Micro model	31/12/2024	11/08/2025	25/08/2025	French	PDF
Micro model	31/12/2023	18/07/2024	20/07/2024	French	PDF
Micro model	31/12/2022	17/06/2023	31/08/2023	French	PDF
Micro model	31/12/2021	17/06/2022	29/08/2022	French	PDF
Micro model	31/12/2020	17/06/2021	29/08/2021	French	PDF
Micro model	31/12/2019	15/05/2020	03/07/2020	French	PDF
Micro model	31/12/2018	15/07/2019	05/08/2019	French	PDF
Micro model	31/12/2017	31/08/2018	31/08/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	30/08/2017	French	PDF
Abridged model	31/12/2015	02/05/2016	31/08/2016	French	PDF
Abridged model	31/12/2014	02/05/2015	20/08/2015	French	PDF
Abridged model	31/12/2013	06/05/2014	29/08/2014	French	PDF
Abridged model	31/12/2012	07/05/2013	27/08/2013	French	PDF
Abridged model	31/12/2011	07/05/2012	09/08/2012	French	PDF
Abridged model	31/12/2010	02/05/2011	25/08/2011	French	PDF
Abridged model	31/12/2009	03/05/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	04/05/2009	04/08/2009	French	PDF
Abridged model	31/12/2007	02/05/2008	24/06/2008	French	PDF
Abridged model	31/12/2006	04/05/2007	22/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 · 15 ended

Active mandates

ATRAXYS

Managing director · since 08 décembre 2018 · until 02 mai 2023 · 0876.981.948

Represented by Alexandre Wittamer

Active

Fabrice Mourlon-Beernaert

Director · since 08 décembre 2018 · until 02 mai 2024

Active

Ended mandates

Michel Wittamer

Managing director · since 05 mai 2017 · until 08 décembre 2018

Ended

Michel Wittamer

Managing director · since 05 mai 2017 · until 02 mai 2023

Ended

ATRAXYS

Director · since 05 avril 2017 · until 07 décembre 2018 · 0876.981.948

Represented by Alexandre Wittamer

Ended

ATRAXYS

Director · since 05 avril 2017 · until 02 mai 2023 · 0876.981.948

Represented by Alexandre Wittamer

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates02/12/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates06/03/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates19/05/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates11/05/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates04/05/2012
DEMISSIONS, NOMINATIONS
PDF
Mandates26/09/2007
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 202524,2 k €↓
2024
Annual accounts 202483,1 k €↓
2023
Annual accounts 2023106,5 k €↑
2022
Annual accounts 202233,1 k €↓
2021
Annual accounts 2021122,5 k €↑
2020
Annual accounts 2020-61,2 k €↓
2019
Annual accounts 201929,5 k €↑
2014
Annual accounts 20145,7 k €↑
2013
Annual accounts 20132,3 k €↓
2012
Annual accounts 201217,7 k €↑
2011
Annual accounts 20118,7 k €↑
2010
Annual accounts 20102,4 k €↑
2009
Annual accounts 2009635,3 €↓
2008
Annual accounts 20087,2 k €↑
2007
Annual accounts 20075,1 k €↓
2006
Annual accounts 200623,9 k €
26/06/1987
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

VAL 33

Overview

What does VAL 33 do?

Trend over 16 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