ACTIVE

GEOCYCLE

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Financial year 2025 · closed on 31/12/2025

Net result

624,5 k €

-9.1% YoY

Revenue

24,1 M €

+1.7% YoY

Equity

6,6 M €

-1.0% YoY

Workforce

51,7 ETP

+6.4% YoY

What does GEOCYCLE do?

GEOCYCLE is a Public limited company incorporated in 1987. Its main activity is: Sewerage. Its registered office is in Nivelles. It employs on average 51,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0432.772.131

Incorporation

04/12/1987

Legal form

Public limited company

Registered office

Avenue Robert Schuman 71
1401 Nivelles · WallonieSee on map

Contributed capital

5 250 000,00 €

Latest accounts

31/12/2025

Average workforce

51,7 ETP

Activities (NACE)

37200Sewerage· main 38210Treatment and disposal of non-hazardous waste 38219Treatment and disposal of non-hazardous waste 38323Recovery of sorted materials 38330Materials recovery 90021Support activities to performing arts

Joint committees (4)

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	24,1 M €	+1.7%	23,7 M €	+9.2%	21,7 M €	-13.4%	25 M €	+2.7%	24,4 M €	+2.1%	23,9 M €	-0.9%	24,1 M €	+21.6%	19,8 M €	+23.3%	16,1 M €	-22.6%	20,8 M €	+8.0%	19,2 M €	+4.1%	18,5 M €	-11.6%	20,9 M €	-2.2%	21,4 M €	-1.7%	21,7 M €	+10.1%	19,7 M €	-1.5%	20,1 M €	-3.7%	20,8 M €	-11.0%	23,4 M €	-5.0%	24,6 M €
EBITDA	1,4 M €	-4.0%	1,4 M €	-16.3%	1,7 M €	+33.5%	1,3 M €	-13.4%	1,5 M €	-16.8%	1,8 M €	+1.5%	1,8 M €	+7.2%	1,6 M €	-4.9%	1,7 M €	-19.7%	2,2 M €	+5.5%	2 M €	+17.2%	1,7 M €	-1.7%	1,8 M €	+10.8%	1,6 M €	+2.5%	1,6 M €	-2.5%	1,6 M €	-15.2%	1,9 M €	+0.3%	1,9 M €	+4.8%	1,8 M €	-6.2%	1,9 M €
Operating result	755,1 k €	-2.8%	776,8 k €	-13.5%	897,6 k €	+1.6%	883,6 k €	-4.2%	922,6 k €	+21.7%	758,1 k €	+2.5%	739,9 k €	+15.4%	641,3 k €	-39.8%	1,1 M €	-28.5%	1,5 M €	+22.6%	1,2 M €	+15.9%	1 M €	+0.5%	1 M €	-4.4%	1,1 M €	-3.4%	1,1 M €	+4.4%	1,1 M €	-7.0%	1,2 M €	+9.8%	1,1 M €	+9.7%	966,2 k €	-9.1%	1,1 M €
Net result	624,5 k €	-9.1%	687,3 k €	+38.8%	495,3 k €	-30.5%	713,1 k €	+7.9%	660,8 k €	+21.8%	542,7 k €	+16.9%	464,3 k €	+4.8%	443,1 k €	-37.9%	713,4 k €	-27.6%	985,9 k €	+8.3%	910,5 k €	+158%	353,3 k €	+12.3%	314,5 k €	-50.6%	637,1 k €	+119%	-3,4 M €	-985%	382,3 k €	-59.6%	945,2 k €	-45.1%	1,7 M €	-64.1%	4,8 M €	+2426%	-206,2 k €
Balance sheet
Equity	6,6 M €	-1.0%	6,7 M €	+11.4%	6 M €	-25.1%	8 M €	+9.8%	7,3 M €	-18.4%	8,9 M €	+6.4%	8,4 M €	+5.8%	7,9 M €	+5.9%	7,5 M €	+10.5%	6,8 M €	-10.3%	7,6 M €	+13.7%	6,7 M €	+5.6%	6,3 M €	+5.2%	6 M €	+356%	-2,3 M €	-324%	1 M €	+1.8%	1 M €	-0.2%	1 M €	-0.0%	1 M €	-0.0%	1 M €
Total assets	13,7 M €	+4.1%	13,2 M €	+8.8%	12,1 M €	-4.6%	12,7 M €	+2.8%	12,4 M €	-16.4%	14,8 M €	+15.6%	12,8 M €	-0.3%	12,8 M €	+3.6%	12,4 M €	+0.9%	12,3 M €	-1.1%	12,4 M €	+5.0%	11,8 M €	-9.5%	13,1 M €	-12.6%	15 M €	+38.7%	10,8 M €	-70.4%	36,5 M €	-3.5%	37,9 M €	-1.4%	38,4 M €	+0.6%	38,2 M €	-0.5%	38,4 M €
Cash	–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		6,1 k €	+98.0%	3,1 k €	+32.7%	2,3 k €
Debts	6,6 M €	+11.2%	6 M €	+7.8%	5,5 M €	+28.0%	4,3 M €	-2.3%	4,4 M €	-8.1%	4,8 M €	+36.9%	3,5 M €	-13.4%	4,1 M €	-1.8%	4,1 M €	-11.4%	4,7 M €	+21.7%	3,8 M €	-6.7%	4,1 M €	-33.2%	6,1 M €	-27.5%	8,5 M €	-34.0%	12,8 M €	-63.5%	35,1 M €	-4.3%	36,6 M €	+0.1%	36,6 M €	+0.5%	36,4 M €	-1.0%	36,8 M €
Other
Workforce	51,7 ETP	+6.4%	48,6 ETP	+3.6%	46,9 ETP	-1.5%	47,6 ETP	+0.2%	47,5 ETP	-1.5%	48,2 ETP	+0.4%	48,0 ETP	+2.1%	47,0 ETP	+2.4%	45,9 ETP	-1.1%	46,4 ETP	-2.1%	47,4 ETP	+1.1%	46,9 ETP	+1.5%	46,2 ETP	+1.1%	45,7 ETP	+1.8%	44,9 ETP	-3.0%	46,3 ETP	-2.3%	47,4 ETP	-2.3%	48,5 ETP	+1.3%	47,9 ETP	-0.2%	48,0 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 · 4 active · 38 ended

Active mandates

Claudia Albertini

Director · since 18 décembre 2025 · until 07 mai 2031

Active

Morgan Malecotte

Director · since 03 mai 2023 · until 31 décembre 2025

Active

Nicolas Ceulemans

Director · since 03 mai 2023 · until 02 mai 2029

Active

Vincent Michel

Director · since 03 mai 2023 · until 02 mai 2029

Active

Ended mandates

Nicolas Ceulemans

Director · since 01 février 2023 · until 02 mai 2029

Ended

Vincent Michel

Director · since 01 février 2023 · until 03 mai 2023

Ended

Vincent Michel

Director · since 01 février 2023 · until 02 mai 2029

Ended

Morgan Malecotte

Director · since 01 décembre 2022 · until 03 mai 2023

Ended

At this address

Other companies at this address

Company	CBE no.
Calcaires de la Rive Gauche I● Active	0836.671.124
Compagnie Coppée de Développement Industriel● Active	0403.212.766
COMPAGNIE DE PARTICIPATIONS ET DE DEVELOPPEMENT INDUSTRIEL● Active	0401.157.950
HOLCIM (BELGIQUE) - HOLCIM (BELGIE)● Active	0437.977.764
HOLCIM GO4ZERO● Active	1002.012.374

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	10/06/2026	17/06/2025	25/06/2024	22/06/2023	23/06/2022	31/05/2021
General meeting	06/05/2026	07/05/2025	08/05/2024	03/05/2023	04/05/2022	21/04/2021
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

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	06/05/2026	10/06/2026	French	PDF
Full model	31/12/2024	07/05/2025	17/06/2025	French	PDF
Full model	31/12/2023	08/05/2024	25/06/2024	French	PDF
Full model	31/12/2022	03/05/2023	22/06/2023	French	PDF
Full model	31/12/2021	04/05/2022	23/06/2022	French	PDF
Full model	31/12/2020	21/04/2021	31/05/2021	French	PDF
Full model	31/12/2019	15/04/2020	09/06/2020	French	PDF
Full model	31/12/2018	17/04/2019	08/05/2019	French	PDF
Full model	31/12/2017	18/04/2018	12/06/2018	French	PDF
Full model	31/12/2016	19/04/2017	12/06/2017	French	PDF
Full model	31/12/2015	20/04/2016	07/06/2016	French	PDF
Full model	31/12/2014	28/04/2015	16/06/2015	French	PDF
Full model	31/12/2013	27/06/2014	01/09/2014	French	PDF
Full model	31/12/2012	17/04/2013	11/06/2013	French	PDF
Full model	31/12/2011	18/04/2012	12/06/2012	French	PDF
Full modelCorrection	31/12/2010	20/04/2011	24/11/2011	French	PDF
Full modelCorrection	31/12/2010	20/04/2011	02/11/2011	French	PDF
Full model	31/12/2010	20/04/2011	10/06/2011	French	PDF
Full model	31/12/2009	21/04/2010	28/06/2010	French	PDF
Full model	31/12/2008	31/07/2009	17/08/2009	French	PDF
Full model	31/12/2007	16/04/2008	19/06/2008	French	PDF
Full model	31/12/2006	18/04/2007	23/07/2007	French	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 · 4 active · 38 ended

Active mandates

Claudia Albertini

Director · since 18 décembre 2025 · until 07 mai 2031

Active

Morgan Malecotte

Director · since 03 mai 2023 · until 31 décembre 2025

Active

Nicolas Ceulemans

Director · since 03 mai 2023 · until 02 mai 2029

Active

Vincent Michel

Director · since 03 mai 2023 · until 02 mai 2029

Active

Ended mandates

Nicolas Ceulemans

Director · since 01 février 2023 · until 02 mai 2029

Ended

Vincent Michel

Director · since 01 février 2023 · until 03 mai 2023

Ended

Vincent Michel

Director · since 01 février 2023 · until 02 mai 2029

Ended

Morgan Malecotte

Director · since 01 décembre 2022 · until 03 mai 2023

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates02/01/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates25/11/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates13/06/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates27/02/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates13/07/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates05/07/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates27/04/2022
DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Mandates09/03/2022
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 2025624,5 k €↓
2024
Annual accounts 2024687,3 k €↑
2023
Annual accounts 2023495,3 k €↓
2022
Annual accounts 2022713,1 k €↑
2021
Annual accounts 2021660,8 k €↑
2020
Annual accounts 2020542,7 k €↑
2019
Annual accounts 2019464,3 k €↑
2018
Annual accounts 2018443,1 k €↓
2017
Annual accounts 2017713,4 k €↓
2016
Annual accounts 2016985,9 k €↑
2015
Annual accounts 2015910,5 k €↑
2014
Annual accounts 2014353,3 k €↑
2013
Annual accounts 2013314,5 k €↓
2012
Annual accounts 2012637,1 k €↑
2011
Annual accounts 2011-3,4 M €↓
2010
Annual accounts 2010382,3 k €↓
2009
Annual accounts 2009945,2 k €↓
2008
Annual accounts 20081,7 M €↓
2007
Annual accounts 20074,8 M €↑
2006
Annual accounts 2006-206,2 k €
04/12/1987
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

GEOCYCLE

Overview

What does GEOCYCLE 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