ACTIVE

VALERN

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

536,4 k €

-6.9% YoY

Gross margin

410,6 k €

+49.0% YoY

Equity

8,5 M €

-5.2% YoY

Workforce

2,0 ETP

+53.8% YoY

What does VALERN do?

VALERN is a Public limited company incorporated in 1987. Its main activity is: Management of real estate on a fee or contract basis. Its registered office is in Amel. It employs on average 2,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0432.445.202

Incorporation

05/11/1987

Legal form

Public limited company

Registered office

Heppenbach,Lehmkaul 41
4770 Amel · Wallonie

Contributed capital

991 574,13 €

Latest accounts

31/12/2025

Average workforce

2,0 ETP

Activities (NACE)

68321Management of real estate on a fee or contract basis· main 68321Management of real estate on a fee or contract basis 70100Activities of head offices 70100Activities of head offices 68100Buying and selling of own real estate 68110Buying and selling of own real estate+4

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ 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
Gross margin	410,6 k €	+49.0%	275,5 k €	+116%	127,6 k €	-47.1%	241,2 k €	-10.1%	268,2 k €	-35.2%	414,1 k €	-35.8%	644,6 k €	+4.3%	618 k €	-6.3%	659,5 k €	+88.4%	350 k €	-18.5%	429,5 k €	-17.9%	523,4 k €	-10.4%	583,9 k €	-36.3%	916,2 k €	+340%	208,4 k €	-39.8%	346 k €	+187%	120,7 k €	-70.6%	410,7 k €	+0.3%	409,4 k €	+71.3%	239 k €
EBITDA	240,9 k €	+79.4%	134,3 k €	+761%	-20,3 k €	-115%	136,1 k €	-25.4%	182,6 k €	-47.2%	345,8 k €	-44.7%	625 k €	+3.8%	602,1 k €	-8.0%	654,5 k €	+94.5%	336,5 k €	-20.8%	425 k €	-13.6%	491,7 k €	-15.0%	578,8 k €	-36.7%	914,1 k €	+343%	206,4 k €	-40.0%	343,9 k €	+231%	104 k €	-72.7%	380,8 k €	-2.1%	388,9 k €	+69.8%	229 k €
Operating result	239,8 k €	+87.4%	128 k €	+580%	-26,7 k €	-121%	129,8 k €	-26.3%	176,2 k €	-48.2%	340,5 k €	-45.5%	625 k €	+3.8%	602,1 k €	-8.0%	654,5 k €	+94.5%	336,5 k €	-20.8%	425 k €	-13.6%	491,7 k €	-15.0%	578,8 k €	-36.7%	914,1 k €	+343%	206,4 k €	-40.0%	343,9 k €	+231%	104 k €	-72.0%	371,4 k €	-2.1%	379,6 k €	+72.8%	219,7 k €
Net result	536,4 k €	-6.9%	576,2 k €	-56.1%	1,3 M €	-62.3%	3,5 M €	+5912%	57,9 k €	-91.2%	659,1 k €	-72.3%	2,4 M €	+651%	317,4 k €	-16.0%	377,9 k €	-63.9%	1 M €	+434%	195,8 k €	-17.3%	236,7 k €	-21.2%	300,3 k €	-40.1%	501,2 k €	+107%	241,8 k €	+37.6%	175,8 k €	+168%	65,6 k €	-66.8%	197,4 k €	-0.7%	198,9 k €	+103%	98,2 k €
Balance sheet
Equity	8,5 M €	-5.2%	9 M €	-1.4%	9,1 M €	+3.6%	8,8 M €	+39.3%	6,3 M €	-23.5%	8,2 M €	+8.7%	7,6 M €	+45.8%	5,2 M €	+6.5%	4,9 M €	+8.4%	4,5 M €	+30.2%	3,5 M €	+4.1%	3,3 M €	+7.7%	3,1 M €	+10.8%	2,8 M €	+21.9%	2,3 M €	+11.8%	2 M €	+9.4%	1,9 M €	-14.1%	2,2 M €	+10.0%	2 M €	+11.2%	1,8 M €
Total assets	9,9 M €	-1.8%	10,1 M €	-4.1%	10,6 M €	+2.8%	10,3 M €	+16.5%	8,8 M €	-0.1%	8,8 M €	+4.7%	8,4 M €	+39.2%	6,1 M €	+1.1%	6 M €	-0.6%	6 M €	+14.1%	5,3 M €	-1.4%	5,4 M €	-4.2%	5,6 M €	+6.9%	5,2 M €	-1.5%	5,3 M €	+68.8%	3,1 M €	+3.0%	3,1 M €	+0.8%	3 M €	+3.5%	2,9 M €	+7.9%	2,7 M €
Cash	596,1 k €	+414%	115,9 k €	-27.3%	159,3 k €	-85.6%	1,1 M €	-5.1%	1,2 M €	-12.3%	1,3 M €	+409%	261,5 k €	-11.4%	295,3 k €	-44.4%	530,9 k €	+191%	182,6 k €	+121%	82,7 k €	+78.1%	46,4 k €	-94.4%	829 k €	+609%	116,9 k €	-72.9%	432 k €	+13.3%	381,4 k €	+39.9%	272,5 k €	+326%	64 k €	-79.6%	313,6 k €	+379%	65,5 k €
Debts	1 M €	+41.4%	729,7 k €	-28.6%	1 M €	+0.3%	1 M €	-49.7%	2 M €	+3040%	64,5 k €	-78.4%	298,4 k €	+4.8%	284,9 k €	-44.0%	508,7 k €	-43.0%	892,6 k €	-24.1%	1,2 M €	-13.7%	1,4 M €	-24.2%	1,8 M €	+4.4%	1,7 M €	-24.3%	2,3 M €	+602%	323,9 k €	-15.1%	381,4 k €	+1517%	23,6 k €	-73.2%	87,9 k €	+87.1%	47 k €
Other
Workforce	2,0 ETP	+53.8%	1,3 ETP	+30.0%	1,0 ETP	-44.4%	1,8 ETP	+50.0%	1,2 ETP	+71.4%	0,7 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

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

Active mandates

3L-SEN INVEST

Director · since 30 juin 2021 · until 25 juin 2027 · 0769.871.281

Represented by Michael ELSEN

Active

EE-INVEST

Director · since 30 juin 2021 · until 25 juin 2027 · 0769.871.083

Represented by Eric ELSEN

Active

ELJU INVEST

Director · since 30 juin 2021 · until 25 juin 2027 · 0769.870.885

Represented by Julian ELSEN

Active

EMA-INVEST

Director · since 30 juin 2021 · until 25 juin 2027 · 0769.870.984

Represented by Markus Elsen

Active

GEMI INVEST

Director · since 30 juin 2021 · until 25 juin 2027 · 0769.871.182

Represented by Gert ELSEN

Active

Ended mandates

Eric ELSEN

Managing director · since 03 mai 2016 · until 03 mai 2022

Ended

Gert ELSEN

Chairman of the board of directors · since 03 mai 2016 · until 03 mai 2022

Ended

Herbert ELSEN

Director · since 03 mai 2016 · until 03 mai 2022

Ended

Julian ELSEN

Director · since 03 mai 2016 · until 03 mai 2022

Ended

At this address

Other companies at this address

Company	CBE no.
Arbeitsgemeinschaft Elsen-Trageco● Active	0763.527.283
ELSEN● Active	0407.924.986
ELS INVEST● Active	0770.270.961
Société momentanée ELSEN-CONVENTS● Active	0782.336.474

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	15/07/2026	07/07/2025	01/07/2024	07/08/2023	09/08/2022	26/08/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	30/06/2023	24/06/2022	04/05/2021
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

Ratios

Financial ratios

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/06/2026	15/07/2026	German	PDF
Abridged model	31/12/2024	27/06/2025	07/07/2025	German	PDF
Abridged model	31/12/2023	28/06/2024	01/07/2024	German	PDF
Abridged model	31/12/2022	30/06/2023	07/08/2023	German	PDF
Abridged model	31/12/2021	24/06/2022	09/08/2022	German	PDF
Abridged model	31/12/2020	04/05/2021	26/08/2021	German	PDF
Abridged model	31/12/2019	05/05/2020	20/08/2020	German	PDF
Abridged model	31/12/2018	07/05/2019	22/08/2019	German	PDF
Abridged model	31/12/2017	02/05/2018	02/08/2018	German	PDF
Abridged model	31/12/2016	02/05/2017	21/08/2017	German	PDF
Abridged model	31/12/2015	03/05/2016	27/07/2016	German	PDF
Abridged model	31/12/2014	05/05/2015	05/08/2015	French	PDF
Abridged model	31/12/2013	06/05/2014	06/08/2014	French	PDF
Abridged model	31/12/2012	07/05/2013	28/08/2013	French	PDF
Abridged model	31/12/2011	02/05/2012	30/08/2012	French	PDF
Abridged model	31/12/2010	03/05/2011	23/08/2011	German	PDF
Abridged model	31/12/2009	04/05/2010	07/07/2010	German	PDF
Abridged model	31/12/2008	05/05/2009	05/05/2009	German	PDF
Abridged model	31/12/2007	06/05/2008	30/06/2008	German	PDF
Abridged model	31/12/2006	02/05/2007	28/08/2007	German	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 · 20 ended

Active mandates

3L-SEN INVEST

Director · since 30 juin 2021 · until 25 juin 2027 · 0769.871.281

Represented by Michael ELSEN

Active

EE-INVEST

Director · since 30 juin 2021 · until 25 juin 2027 · 0769.871.083

Represented by Eric ELSEN

Active

ELJU INVEST

Director · since 30 juin 2021 · until 25 juin 2027 · 0769.870.885

Represented by Julian ELSEN

Active

EMA-INVEST

Director · since 30 juin 2021 · until 25 juin 2027 · 0769.870.984

Represented by Markus Elsen

Active

GEMI INVEST

Director · since 30 juin 2021 · until 25 juin 2027 · 0769.871.182

Represented by Gert ELSEN

Active

Ended mandates

Eric ELSEN

Managing director · since 03 mai 2016 · until 03 mai 2022

Ended

Gert ELSEN

Chairman of the board of directors · since 03 mai 2016 · until 03 mai 2022

Ended

Herbert ELSEN

Director · since 03 mai 2016 · until 03 mai 2022

Ended

Julian ELSEN

Director · since 03 mai 2016 · until 03 mai 2022

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates16/07/2021
ENTLASSUNG - ERNENNUNG - SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, )
PDF
Mandates13/12/2016
ENTLASSUNG - ERNENNUNG
PDF
Mandates16/07/2015
DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - DIVERS
PDF
Other22/02/2012
VERSCHIEDENES
PDF
Mandates06/07/2011
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Capital / shares29/06/2009
ASSEMBLEE GENERALE EXTRAORDINAIRE - REDUCTION DE CAPITAL -
PDF
Registered office24/05/2006
Transfert du siège social
PDF
Other21/02/2006
Rectification
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 2025536,4 k €↓
2024
Annual accounts 2024576,2 k €↓
2023
Annual accounts 20231,3 M €↓
2022
Annual accounts 20223,5 M €↑
2021
Annual accounts 202157,9 k €↓
2020
Annual accounts 2020659,1 k €↓
2019
Annual accounts 20192,4 M €↑
2018
Annual accounts 2018317,4 k €↓
2017
Annual accounts 2017377,9 k €↓
2016
Annual accounts 20161 M €↑
2015
Annual accounts 2015195,8 k €↓
2014
Annual accounts 2014236,7 k €↓
2013
Annual accounts 2013300,3 k €↓
2012
Annual accounts 2012501,2 k €↑
2011
Annual accounts 2011241,8 k €↑
2010
Annual accounts 2010175,8 k €↑
2009
Annual accounts 200965,6 k €↓
2008
Annual accounts 2008197,4 k €↓
2007
Annual accounts 2007198,9 k €↑
2006
Annual accounts 200698,2 k €
05/11/1987
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

VALERN

Overview

What does VALERN 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