ACTIVE

Advanced Coatings & Construction Solutions

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Financial year 2025 · Closed on 31/12/2025

Net result441 k €+31,9 %over 1 year

Revenue17,1 M €-0,2 %over 1 year

Equity10,6 M €+4,3 %over 1 year

Workforce85,9 ETP-0,7 %over 1 year

Identity

Source · BCE/KBO

Advanced Coatings & Construction Solutions is a Cooperative society incorporated in 1988. Its main activity is: Engineering activities and related technical consultancy. Its registered office is in Liège. It employs on average 85,9 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0434.800.025
Incorporation: 01/07/1988
Legal form: Cooperative society
Registered office: Allée de l'Innovation 1 box B57
4000 Liège · WallonieSee on map
Contributed capital: 902 559,92 €
Latest accounts: 31/12/2025
Average workforce: 85,9 ETP

Activities (NACE)

71121Engineering activities and related technical consultancy· main 71121Engineering activities and related technical consultancy 72109Research and experimental development on natural sciences and engineering 72190Other research and experimental development on natural sciences and engineering 74203Photographic activities

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 17 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	17,1 M €	-0.2%	17,2 M €	+2.1%	16,8 M €	+6.1%	15,8 M €	+5.7%	15 M €
EBITDA	960,6 k €	+50.7%	637,3 k €	-14.6%	745,8 k €	+2.4%	728,5 k €	-28.2%	1 M €
Operating result	459,5 k €	+73.7%	264,5 k €	-31.7%	387,5 k €	+6.9%	362,5 k €	-40.2%	606,5 k €
Net result	441 k €	+31.9%	334,2 k €	+19.2%	280,3 k €	+19.7%	234,2 k €	-42.2%	405,3 k €
Balance sheet
Equity	10,6 M €	+4.3%	10,2 M €	+3.4%	9,8 M €	+2.9%	9,6 M €	+2.5%	9,3 M €
Total assets	18 M €	-2.0%	18,3 M €	-3.7%	19 M €	+0.0%	19 M €	-7.3%	20,5 M €
Cash	3,5 M €	+138%	1,5 M €	-68.1%	4,6 M €	-9.7%	5,1 M €	-48.1%	9,8 M €
Debts	6,4 M €	-5.4%	6,8 M €	-8.2%	7,4 M €	-3.8%	7,7 M €	-18.4%	9,4 M €
Other
Workforce	85,9 ETP	-0.7%	86,5 ETP	-2.5%	88,7 ETP	-3.7%	92,1 ETP	+0.9%	91,3 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

8 active · 34 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Olivier BRUN	Director28/03/2025 → 28/03/2031
Anne HABRAKEN	Director31/03/2016 → 30/03/2029
Jean-Christophe KENNEL	Director27/03/2014 → 30/03/2029
Eric GAILLY	Director22/11/2018 → 31/03/2027
Eric SILBERBERG	Director03/04/2020 → 31/03/2027
Gerhardus VAN DEN BERG	Chairman of the board of directors31/03/2021 → 31/03/2027
Joeri NEUTJENS	Director31/03/2021 → 31/03/2027
Raphaël PAULUS	Director28/03/2019 → 31/03/2027

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Catherine DATH	Director15/11/2023 → 31/12/2029
Nicolas VANBOCKESTAL	Director15/11/2023 → 31/12/2029

Full financial information

Source · NBB

	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	18/05/2026	01/04/2025	29/03/2024	04/04/2023	31/03/2022	01/04/2021
General meeting	30/04/2026	28/03/2025	29/03/2024	31/03/2023	31/03/2022	31/03/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/04/2026	18/05/2026	French	PDF
Full model	31/12/2024	28/03/2025	01/04/2025	French	PDF
Full model	31/12/2023	29/03/2024	29/03/2024	French	PDF
Full model	31/12/2022	31/03/2023	04/04/2023	French	PDF
Full model	31/12/2021	31/03/2022	31/03/2022	French	PDF
Full model	31/12/2020	31/03/2021	01/04/2021	French	PDF
Full model	31/12/2019	03/04/2020	24/04/2020	French	PDF
Full model	31/12/2018	28/03/2019	02/04/2019	French	PDF
Full model	31/12/2017	30/03/2018	07/05/2018	French	PDF
Full model	31/12/2016	31/03/2017	31/03/2017	French	PDF
Full model	31/12/2015	31/03/2016	01/04/2016	French	PDF
Full model	31/12/2014	31/03/2015	02/04/2015	French	PDF
Full model	31/12/2013	27/03/2014	31/03/2014	French	PDF
Full model	31/12/2012	29/03/2013	11/06/2013	French	PDF
Full model	31/12/2011	12/06/2012	29/06/2012	French	PDF
Full model	31/12/2010	30/06/2011	18/07/2011	French	PDF
Full model	31/12/2009	26/05/2010	06/07/2010	French	PDF
Full model	31/12/2008	30/04/2009	26/05/2009	French	PDF
Full model	31/12/2007	30/04/2008	04/06/2008	French	PDF
Full model	31/12/2006	30/04/2007	30/05/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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.

Board of directors

Source · NBB, accounts to 31/12/2025

8 active · 34 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Olivier BRUN	Director28/03/2025 → 28/03/2031
Anne HABRAKEN	Director31/03/2016 → 30/03/2029
Jean-Christophe KENNEL	Director27/03/2014 → 30/03/2029
Eric GAILLY	Director22/11/2018 → 31/03/2027
Eric SILBERBERG	Director03/04/2020 → 31/03/2027
Gerhardus VAN DEN BERG	Chairman of the board of directors31/03/2021 → 31/03/2027
Joeri NEUTJENS	Director31/03/2021 → 31/03/2027
Raphaël PAULUS	Director28/03/2019 → 31/03/2027

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Catherine DATH	Director15/11/2023 → 31/12/2029
Nicolas VANBOCKESTAL	Director15/11/2023 → 31/12/2029

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates09/02/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates29/07/2025
DEMISSIONS, NOMINATIONS
PDF
Other27/11/2024
DIVERS
PDF
Other14/06/2024
MODIFICATION FORME JURIDIQUE - OBJET
PDF
Mandates20/09/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates25/01/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates02/02/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates03/02/2021
DEMISSIONS, NOMINATIONS
PDF

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A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings17 filings

Mandates

Olivier BRUN

Jean-Christophe KENNEL

Anne HABRAKEN

Raphaël PAULUS

Eric GAILLY

Gerhardus VAN DEN BERG

Joeri NEUTJENS

Eric SILBERBERG

Catherine DATH

Nicolas VANBOCKESTAL

Griet LANNOO

Adrien GRABARSKI

and 29 more mandates

19881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025202620272028202920302031

Allée de l'Innovation , B 157 bte B57, 4000 Liège

Director

Chairman of the board of directors

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Allée de l'Innovation 1 bte B57, 4000 LiègeCurrent		CBE
Allée de l'Innovation , B 157 bte B57, 4000 Liège	accounts 2023 → 2025	Accounts 2025 · 2026-00114678
Allée de l'Innovation , B 1 bte B57, 4000 Liège	accounts 2022	Accounts 2022 · 2023-00053138

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
Advanced Coatings & Construction SolutionsCurrent		CBE
AC&CS SC	accounts 2025	Accounts 2025 · 2026-00114678
AC&CS SCRL	accounts 2024	Accounts 2024 · 2025-00063875
AC&CS SC	accounts 2023	Accounts 2023 · 2024-00055054
AC&CS SCRL	accounts 2022	Accounts 2022 · 2023-00053138

Events

2025
Annual accounts 2025441 k €↑
2025
Name changeAC&CS SC
2024
Annual accounts 2024334,2 k €↑
2024
Name changeAC&CS SCRL
2023
Annual accounts 2023280,3 k €↑
2023
Name changeAC&CS SC
2022
Annual accounts 2022234,2 k €↓
2021
Annual accounts 2021405,3 k €↑
2020
Annual accounts 2020205,9 k €↓
2019
Annual accounts 2019292,3 k €↓
2018
Annual accounts 2018828,9 k €↑
2017
Annual accounts 2017-480,7 k €↓
2016
Annual accounts 2016307,8 k €↓
2015
Annual accounts 2015394,4 k €↓
2013
Annual accounts 2013587,2 k €↓
2012
Annual accounts 20121,1 M €↑
2011
Annual accounts 2011224,1 k €↓
2010
Annual accounts 20102,9 M €↑
2009
Annual accounts 20092,7 M €↓
2008
Annual accounts 20082,9 M €
01/07/1988
IncorporationCooperative society

Advanced Coatings & Construction Solutions

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

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

Timeline

Registered offices

Company names

Events