ACTIVE

Limago

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Financial year 2025 · closed on 31/12/2025

Net result

-98,6 k €

+53.0% YoY

Gross margin

106,7 k €

+6547.1% YoY

Equity

688,5 k €

-12.5% YoY

What does Limago do?

Limago is a Public limited company incorporated in 1987. Its main activity is: Activities of holding companies. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0432.324.347

Incorporation

20/10/1987

Legal form

Public limited company

Registered office

De Waghemakerestraat 38
2060 Antwerpen · FlandreSee on map

Contributed capital

1 300 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate

Signals

Solid equityPositive cashflowPositive EBITDA

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Health score

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Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	106,7 k €	+6547%	1,6 k €	+113%	-12,4 k €	-122%	55,5 k €	-24.9%	73,8 k €	-25.0%	98,4 k €	+25.0%	78,7 k €	-37.4%	125,8 k €	-1.6%	127,8 k €		–		–		–		–		–		–		–		–		–
EBITDA	87,7 k €	+712%	-14,3 k €	+48.0%	-27,6 k €	-167%	40,8 k €	-32.3%	60,3 k €	-29.8%	85,9 k €	+29.3%	66,4 k €	-41.9%	114,3 k €	-1.6%	116,2 k €	+4.3%	111,4 k €	+2.2%	109 k €	+58.1%	69 k €	+20.5%	57,3 k €	-28.1%	79,6 k €	+14.6%	69,5 k €	-22.0%	89,1 k €	+42.6%	62,5 k €	+2.4%	61 k €
Operating result	-67,4 k €	+54.0%	-146,6 k €	-16.2%	-126,1 k €	-189%	-43,6 k €	+8.7%	-47,8 k €	-115%	-22,2 k €	+44.6%	-40,1 k €	-271%	23,5 k €	-4.7%	24,6 k €	+23.9%	19,9 k €	+13.4%	17,5 k €	+180%	-22 k €	+7.2%	-23,7 k €	-183%	28,6 k €	-4.5%	30 k €	-39.7%	49,7 k €	+751%	5,8 k €	-78.1%	26,6 k €
Net result	-98,6 k €	+53.0%	-209,9 k €	-26.8%	-165,6 k €	-202%	-54,8 k €	+7.9%	-59,5 k €	-73.1%	-34,4 k €	+33.2%	-51,4 k €	-508%	12,6 k €	-2.6%	12,9 k €	+62.9%	7,9 k €	+66.0%	4,8 k €	+112%	-41,4 k €	+19.0%	-51,2 k €	-4867%	1,1 k €	+120%	-5,3 k €	-259%	3,4 k €	-78.4%	15,6 k €	+1084%	-1,6 k €
Balance sheet
Equity	688,5 k €	-12.5%	787,1 k €	+1294%	-65,9 k €	-166%	99,7 k €	-35.5%	154,4 k €	-27.8%	213,9 k €	-13.8%	248,3 k €	-17.2%	299,7 k €	+4.4%	287,1 k €	+4.7%	274,2 k €	+3.0%	266,2 k €	+1.8%	261,4 k €	-13.7%	302,9 k €	-8.0%	329 k €	+0.3%	328 k €	-11.4%	370,3 k €	+0.9%	366,9 k €	-3.8%	381,5 k €
Total assets	2 M €	-0.5%	2 M €	+52.0%	1,3 M €	+3.7%	1,3 M €	-0.1%	1,3 M €	-10.3%	1,4 M €	-2.3%	1,4 M €	+7.3%	1,4 M €	-8.8%	1,5 M €	+1.7%	1,5 M €	-2.5%	1,5 M €	-5.7%	1,6 M €	-3.8%	1,6 M €	+24.6%	1,3 M €	+42.4%	928 k €	+2.9%	901,7 k €	-8.8%	988,6 k €	-0.9%	997,6 k €
Cash	5,3 k €	+9.4%	4,8 k €	-80.1%	24,2 k €	-4.2%	25,2 k €	-58.4%	60,6 k €	-37.9%	97,6 k €	+266%	26,7 k €	+631%	3,7 k €	-96.9%	119,4 k €	+8912%	1,3 k €	+12.4%	1,2 k €	-13.1%	1,4 k €	+382%	281,6 €	-63.8%	777,8 €	-49.2%	1,5 k €	+4.0%	1,5 k €	+102%	729,2 €	-16.4%	871,8 €
Debts	1,3 M €	+7.2%	1,2 M €	-12.2%	1,4 M €	+18.1%	1,2 M €	+4.9%	1,1 M €	-7.2%	1,2 M €	+0.1%	1,2 M €	+14.3%	1,1 M €	-12.0%	1,2 M €	+1.0%	1,2 M €	-3.7%	1,2 M €	-7.2%	1,3 M €	-0.5%	1,3 M €	+40.6%	946 k €	+73.0%	546,8 k €	+15.5%	473,6 k €	-6.8%	508 k €	-0.8%	512 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 22 ended

Active mandates

Anne Wittock

Director · since 25 septembre 2025 · until 03 juin 2031

Active

E-Volution

Director · since 24 juin 2024 · until 04 juin 2030 · 0735.575.744

Active

Yves Huts

Director · since 24 juin 2024 · until 04 juin 2030

Active

Ended mandates

EMAXIS

Director · since 29 juillet 2024 · until 04 juin 2030 · 0684.838.410

Ended

Benoît Marcel J. Jacques

Director · since 11 juin 2021 · until 01 juin 2027

Ended

Benoît Marcel J. Jacques

Director · since 11 juin 2021 · until 11 juin 2027

Ended

Sabine Heylen

Director · since 31 mai 2019 · until 30 mai 2025

Ended

At this address

Other companies at this address

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Cura et Age● Active	0634.563.409
F.L. VANDRIESSCHE EN C● Active	0400.113.815
KALLO INDUSTRIES● Active	0451.034.360
KOOPHANDEL NATIE BEHEER II● Active	0474.764.025
LANIUS● Active	0451.763.246
MARITIEM EN LOGISTIEK ERFGOED● Active	0875.886.244
N.W.L. - Produktie● Active	0423.306.218
VALK ASSET COMPANY● Active	0863.552.002

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	23/06/2026	30/06/2025	04/07/2024	15/06/2023	01/07/2022	25/06/2021
General meeting	02/06/2026	03/06/2025	24/06/2024	06/06/2023	10/06/2022	11/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	02/06/2026	23/06/2026	Dutch	PDF
Abridged model	31/12/2024	03/06/2025	30/06/2025	Dutch	PDF
Abridged model	31/12/2023	24/06/2024	04/07/2024	Dutch	PDF
Abridged model	31/12/2022	06/06/2023	15/06/2023	Dutch	PDF
Abridged model	31/12/2021	10/06/2022	01/07/2022	Dutch	PDF
Abridged model	31/12/2020	11/06/2021	25/06/2021	Dutch	PDF
Abridged model	31/12/2019	12/06/2020	25/06/2020	Dutch	PDF
Abridged model	31/12/2018	27/05/2019	28/06/2019	Dutch	PDF
Abridged model	31/12/2017	08/06/2018	16/07/2018	Dutch	PDF
Full model	31/12/2016	09/06/2017	13/07/2017	Dutch	PDF
Full model	31/12/2015	10/06/2016	28/07/2016	Dutch	PDF
Full model	31/12/2014	12/06/2015	04/08/2015	Dutch	PDF
Full model	31/12/2013	13/06/2014	19/08/2014	Dutch	PDF
Full modelCorrection	31/12/2012	14/06/2013	05/09/2013	Dutch	PDF
Full model	31/12/2012	14/06/2013	23/08/2013	Dutch	PDF
Full model	31/12/2011	08/06/2012	10/08/2012	Dutch	PDF
Full model	30/12/2010	10/06/2011	09/08/2011	Dutch	PDF
Full model	30/12/2009	11/06/2010	03/08/2010	Dutch	PDF
Full model	30/12/2008	12/06/2009	11/08/2009	Dutch	PDF
Full model	30/12/2007	13/06/2008	20/08/2008	Dutch	PDF
Full model	30/12/2006	08/06/2007	22/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 · 3 active · 22 ended

Active mandates

Anne Wittock

Director · since 25 septembre 2025 · until 03 juin 2031

Active

E-Volution

Director · since 24 juin 2024 · until 04 juin 2030 · 0735.575.744

Active

Yves Huts

Director · since 24 juin 2024 · until 04 juin 2030

Active

Ended mandates

EMAXIS

Director · since 29 juillet 2024 · until 04 juin 2030 · 0684.838.410

Ended

Benoît Marcel J. Jacques

Director · since 11 juin 2021 · until 01 juin 2027

Ended

Benoît Marcel J. Jacques

Director · since 11 juin 2021 · until 11 juin 2027

Ended

Sabine Heylen

Director · since 31 mai 2019 · until 30 mai 2025

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other21/08/2026
MEDEDELING KEUZE WOONPLAATS
PDF
Mandates21/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares12/12/2024
KAPITAAL - AANDELEN
PDF
Mandates13/11/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/08/2024
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares13/03/2024
KAPITAAL - AANDELEN
PDF
Mandates09/08/2021
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 2025-98,6 k €↑
2024
Annual accounts 2024-209,9 k €↓
2023
Annual accounts 2023-165,6 k €↓
2022
Annual accounts 2022-54,8 k €↑
2021
Annual accounts 2021-59,5 k €↓
2020
Annual accounts 2020-34,4 k €↑
2019
Annual accounts 2019-51,4 k €↓
2018
Annual accounts 201812,6 k €↓
2017
Annual accounts 201712,9 k €↑
2016
Annual accounts 20167,9 k €↑
2015
Annual accounts 20154,8 k €↑
2014
Annual accounts 2014-41,4 k €↑
2013
Annual accounts 2013-51,2 k €↓
2012
Annual accounts 20121,1 k €↑
2011
Annual accounts 2011-5,3 k €↓
2010
Annual accounts 20103,4 k €↓
2009
Annual accounts 200915,6 k €↑
2008
Annual accounts 2008-1,6 k €
20/10/1987
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

Limago

Overview

What does Limago do?

Trend over 18 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