ACTIVE

SPACE APPLICATIONS SERVICES

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Financial year 2025 · closed on 31/12/2025

Net result

980,7 k €

-29.1% YoY

Revenue

22,2 M €

+25.9% YoY

Equity

12,5 M €

+175.6% YoY

Workforce

91,3 ETP

+6.2% YoY

What does SPACE APPLICATIONS SERVICES do?

SPACE APPLICATIONS SERVICES is a Public limited company incorporated in 1987. Its main activity is: Engineering activities and related technical consultancy. Its registered office is in Zaventem. It employs on average 91,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0431.666.826

Incorporation

28/07/1987

Legal form

Public limited company

Registered office

Leuvensesteenweg 325
1932 Zaventem · FlandreSee on map

Contributed capital

7 100 000,00 €

Latest accounts

31/12/2025

Average workforce

91,3 ETP

Activities (NACE)

71121Engineering activities and related technical consultancy· main 71121Engineering activities and related technical consultancy 74203Photographic activities 74909Other professional, scientific and technical activities n.e.c.74999Other professional, scientific and technical activities n.e.c.

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	22,2 M €	+25.9%	17,6 M €	-16.1%	21 M €	+27.4%	16,5 M €	+16.0%	14,2 M €	+27.3%	11,2 M €	-8.0%	12,1 M €	+0.7%	12 M €	+7.0%	11,3 M €	+20.0%	9,4 M €	-9.7%	10,4 M €	-10.8%	11,6 M €	+17.8%	9,9 M €	+12.6%	8,8 M €	+6.1%	8,3 M €	+16.2%	7,1 M €	-7.1%	7,7 M €		–		–		–
EBITDA	1,9 M €	-17.9%	2,3 M €	-35.8%	3,6 M €	+124%	1,6 M €	+47.6%	1,1 M €	+131%	470,6 k €	-19.7%	586,2 k €	-49.3%	1,2 M €	+95.1%	593,1 k €	-60.3%	1,5 M €	+3.4%	1,4 M €	-31.0%	2,1 M €	+4.1%	2 M €	+18.6%	1,7 M €	-11.1%	1,9 M €	+84.5%	1 M €	-25.1%	1,4 M €	-24.2%	1,8 M €	+71.9%	1,1 M €	+107%	512,2 k €
Operating result	1,5 M €	-21.3%	1,9 M €	-43.3%	3,3 M €	+139%	1,4 M €	+58.0%	868,6 k €	+312%	210,7 k €	-14.4%	246,2 k €	-66.2%	727,3 k €	+395%	147 k €	-86.7%	1,1 M €	-0.6%	1,1 M €	-34.5%	1,7 M €	-6.4%	1,8 M €	+14.8%	1,6 M €	-12.7%	1,8 M €	+97.1%	918,3 k €	-28.5%	1,3 M €	-25.2%	1,7 M €	+70.3%	1 M €	+114%	471,4 k €
Net result	980,7 k €	-29.1%	1,4 M €	-42.2%	2,4 M €	+162%	915 k €	+58.5%	577,3 k €	+370%	122,9 k €	-48.5%	238,7 k €	-50.5%	482,2 k €	+821%	52,4 k €	-92.7%	720,6 k €	+8.9%	661,7 k €	-40.7%	1,1 M €	-10.8%	1,3 M €	+13.3%	1,1 M €	-10.3%	1,2 M €	+93.5%	637,1 k €	-42.7%	1,1 M €	+29.0%	861,1 k €	+50.7%	571,3 k €	+7.8%	529,9 k €
Balance sheet
Equity	12,5 M €	+176%	4,5 M €	-36.5%	7,2 M €	+3.5%	6,9 M €	+15.2%	6 M €	+10.6%	5,4 M €	-48.8%	10,6 M €	+2.3%	10,4 M €	+4.9%	9,9 M €	+0.5%	9,8 M €	+7.9%	9,1 M €	+7.8%	8,4 M €	+15.2%	7,3 M €	+20.6%	6,1 M €	+22.2%	5 M €	+33.0%	3,7 M €	+20.5%	3,1 M €	+55.8%	2 M €	+76.2%	1,1 M €	+102%	558,2 k €
Total assets	36,8 M €	+199%	12,3 M €	-7.3%	13,3 M €	+19.8%	11,1 M €	+18.0%	9,4 M €	+34.7%	7 M €	-53.7%	15 M €	+10.0%	13,7 M €	+16.4%	11,8 M €	-9.0%	12,9 M €	+17.0%	11 M €	-0.1%	11 M €	+26.8%	8,7 M €	+18.1%	7,4 M €	+9.2%	6,8 M €	+13.6%	5,9 M €	+18.8%	5 M €	+8.2%	4,6 M €	+71.8%	2,7 M €	+31.2%	2,1 M €
Cash	2,8 M €	+12.0%	2,5 M €	-58.9%	6 M €	+33.3%	4,5 M €	+17.6%	3,8 M €	+35.3%	2,8 M €	-43.6%	5 M €	+42.9%	3,5 M €	+80.9%	1,9 M €	-25.2%	2,6 M €	+138%	1,1 M €	-55.1%	2,4 M €	-24.1%	3,2 M €	+30.3%	2,5 M €	+31.6%	1,9 M €	+54.1%	1,2 M €	-29.6%	1,7 M €	+77.0%	975,9 k €	+872%	100,4 k €	+48.5%	67,6 k €
Debts	16,3 M €	+111%	7,7 M €	+26.5%	6,1 M €	+46.8%	4,2 M €	+24.8%	3,3 M €	+116%	1,5 M €	-65.2%	4,4 M €	+44.1%	3,1 M €	+132%	1,3 M €	-53.0%	2,8 M €	+69.4%	1,7 M €	-35.0%	2,6 M €	+89.9%	1,4 M €	+3.9%	1,3 M €	-25.4%	1,7 M €	-21.0%	2,2 M €	+15.9%	1,9 M €	-27.7%	2,6 M €	+68.5%	1,6 M €	+4.7%	1,5 M €
Other
Workforce	91,3 ETP	+6.2%	86,0 ETP	+3.2%	83,3 ETP	+11.8%	74,5 ETP	+0.3%	74,3 ETP	+9.6%	67,8 ETP	+5.8%	64,1 ETP	+2.2%	62,7 ETP	+7.0%	58,6 ETP	+3.2%	56,8 ETP	-3.1%	58,6 ETP	+3.0%	56,9 ETP	+8.6%	52,4 ETP	+8.5%	48,3 ETP	+0.4%	48,1 ETP	+16.2%	41,4 ETP	+4.3%	39,7 ETP	+1.3%	39,2 ETP	+22.9%	31,9 ETP	+18.1%	27,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 20 ended

Active mandates

Marie-Ange CAUSSE

Director · since 24 février 2025 · until 30 juin 2030

Active

Pascal ROGIEST

Director · since 24 février 2025 · until 30 juin 2030

Active

ActuaRisk Consulting

Managing director · since 29 décembre 2024 · until 30 juin 2030 · 0874.912.779

Represented by Fabian SUAREZ GONZALEZ

Active

Richard AKED

Managing director · since 05 septembre 2024 · until 30 juin 2030

Active

Robert TAUB

Director · since 05 septembre 2024 · until 30 juin 2030

Active

Ended mandates

Leif STEINICKE

Managing director · since 01 janvier 2020 · until 01 janvier 2026

Ended

Richard AKED

Managing director · since 01 janvier 2020 · until 01 janvier 2026

Ended

Leif STEINICKE

Managing director · since 01 janvier 2015 · until 01 janvier 2021

Ended

Richard AKED

Managing director · since 01 janvier 2015 · until 01 janvier 2021

Ended

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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	31/07/2026	25/07/2025	31/08/2024	30/06/2023	13/05/2022	23/07/2021
General meeting	30/06/2026	30/06/2025	30/08/2024	01/06/2023	11/05/2022	01/06/2021
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
Full model	31/12/2025	30/06/2026	31/07/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	25/07/2025	Dutch	PDF
Full model	31/12/2023	30/08/2024	31/08/2024	Dutch	PDF
Full model	31/12/2022	01/06/2023	30/06/2023	Dutch	PDF
Full model	31/12/2021	11/05/2022	13/05/2022	Dutch	PDF
Full model	31/12/2020	01/06/2021	23/07/2021	Dutch	PDF
Full model	31/12/2019	28/06/2020	07/08/2020	Dutch	PDF
Full model	31/12/2018	19/06/2019	20/09/2019	Dutch	PDF
Full model	31/12/2017	22/06/2018	20/07/2018	Dutch	PDF
Full model	31/12/2016	01/06/2017	11/07/2017	Dutch	PDF
Full model	31/12/2015	20/06/2016	08/07/2016	Dutch	PDF
Full model	31/12/2014	19/06/2015	24/07/2015	Dutch	PDF
Full model	31/12/2013	30/06/2014	31/10/2014	Dutch	PDF
Full model	31/12/2012	06/06/2013	17/06/2013	Dutch	PDF
Full model	31/12/2011	22/05/2012	17/07/2012	Dutch	PDF
Full model	31/12/2010	30/06/2011	20/07/2011	Dutch	PDF
Full model	31/12/2009	12/08/2010	31/08/2010	Dutch	PDF
Abridged model	31/12/2008	07/10/2009	09/10/2009	Dutch	PDF
Abridged model	31/12/2007	07/10/2008	14/10/2008	Dutch	PDF
Abridged model	31/12/2006	29/06/2007	01/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 20 ended

Active mandates

Marie-Ange CAUSSE

Director · since 24 février 2025 · until 30 juin 2030

Active

Pascal ROGIEST

Director · since 24 février 2025 · until 30 juin 2030

Active

ActuaRisk Consulting

Managing director · since 29 décembre 2024 · until 30 juin 2030 · 0874.912.779

Represented by Fabian SUAREZ GONZALEZ

Active

Richard AKED

Managing director · since 05 septembre 2024 · until 30 juin 2030

Active

Robert TAUB

Director · since 05 septembre 2024 · until 30 juin 2030

Active

Ended mandates

Leif STEINICKE

Managing director · since 01 janvier 2020 · until 01 janvier 2026

Ended

Richard AKED

Managing director · since 01 janvier 2020 · until 01 janvier 2026

Ended

Leif STEINICKE

Managing director · since 01 janvier 2015 · until 01 janvier 2021

Ended

Richard AKED

Managing director · since 01 janvier 2015 · until 01 janvier 2021

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other18/08/2026
STATUTEN (VERTALING, COORDINATIE, OVERIGE
PDF
Capital / shares02/02/2026
DIVERSEN - KAPITAAL - AANDELEN
PDF
Mandates29/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares16/07/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN - KAPITAAL - AANDELEN
PDF
Mandates16/04/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/01/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/03/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/08/2020
ONTSLAGEN - BENOEMINGEN
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 2025980,7 k €↓
2024
Annual accounts 20241,4 M €↓
2023
Annual accounts 20232,4 M €↑
2022
Annual accounts 2022915 k €↑
2021
Annual accounts 2021577,3 k €↑
2020
Annual accounts 2020122,9 k €↓
2019
Annual accounts 2019238,7 k €↓
2018
Annual accounts 2018482,2 k €↑
2017
Annual accounts 201752,4 k €↓
2016
Annual accounts 2016720,6 k €↑
2015
Annual accounts 2015661,7 k €↓
2014
Annual accounts 20141,1 M €↓
2013
Annual accounts 20131,3 M €↑
2012
Annual accounts 20121,1 M €↓
2011
Annual accounts 20111,2 M €↑
2010
Annual accounts 2010637,1 k €↓
2009
Annual accounts 20091,1 M €↑
2008
Annual accounts 2008861,1 k €↑
2007
Annual accounts 2007571,3 k €↑
2006
Annual accounts 2006529,9 k €
28/07/1987
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

SPACE APPLICATIONS SERVICES

Overview

What does SPACE APPLICATIONS SERVICES do?

Trend over 20 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