ACTIVE

KEYSOURCE

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Financial year 2025 · closed on 30/06/2025

Net result

3,1 k €

-58.8% YoY

Gross margin

305,0 k €

+8.0% YoY

Equity

132,8 k €

+1.1% YoY

Workforce

3,9 ETP

-31.6% YoY

What does KEYSOURCE do?

KEYSOURCE is a Private limited company incorporated in 1988. Its main activity is: Wholesale of information and communication equipment. Its registered office is in Anderlecht. It employs on average 3,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0435.019.363

Incorporation

24/08/1988

Legal form

Private limited company

Registered office

Boulevard Paepsem 20 box R23
1070 Anderlecht · BruxellesSee on map

Contributed capital

25 041,53 €

Latest accounts

30/06/2025

Average workforce

3,9 ETP

Activities (NACE)

46500Wholesale of information and communication equipment· main 46510Wholesale of computers, computer peripheral equipment and software 51840Air transport 93053Sports activities and amusement and recreation activities 96099Other personal service activities n.e.c.96999Other personal service activities

Joint committees (3)

1000
2000
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	305,0 k €	+8.0%	282,4 k €	+7.0%	263,9 k €	+7.5%	245,4 k €	-15.4%	290,1 k €	+22.4%	237,0 k €	-12.1%	269,6 k €	-19.1%	333,4 k €	+28.7%	259,0 k €	+4.1%	248,8 k €	+18.6%	209,8 k €	+8.8%	192,9 k €	-1.4%	195,7 k €	-13.0%	224,9 k €	+1.5%	221,6 k €	+5.0%	211,0 k €	-22.0%	270,4 k €	+23.2%	219,6 k €	-0.8%	221,3 k €
EBITDA	28,2 k €	-23.2%	36,8 k €	+14.0%	32,3 k €	+10.2%	29,3 k €	-65.6%	85,1 k €	+2624%	-3,4 k €	-114%	23,8 k €	+19.2%	20,0 k €	-21.9%	25,6 k €	+1.6%	25,2 k €	+1.8%	24,8 k €	+15.1%	21,5 k €	-41.2%	36,5 k €	+33.0%	27,5 k €	-20.6%	34,6 k €	-29.0%	48,7 k €	+1.2%	48,1 k €	-22.4%	62,0 k €	+16.7%	53,1 k €
Operating result	15,3 k €	-36.5%	24,0 k €	+5.3%	22,8 k €	+17.6%	19,4 k €	-75.2%	78,3 k €	+682%	-13,5 k €	-207%	12,6 k €	+16.5%	10,8 k €	-31.4%	15,8 k €	-8.9%	17,3 k €	-6.2%	18,5 k €	+38.2%	13,4 k €	-52.3%	28,0 k €	+83.7%	15,3 k €	-22.9%	19,8 k €	-44.1%	35,4 k €	+37.4%	25,8 k €	+5.6%	24,4 k €	+5075%	-491,0 €
Net result	3,1 k €	-58.8%	7,6 k €	-4.8%	8,0 k €	-71.3%	27,8 k €	-39.9%	46,2 k €	+1480%	2,9 k €	+215%	928,6 €	-67.9%	2,9 k €	+51.6%	1,9 k €	+54.0%	1,2 k €	+4.8%	1,2 k €	-50.9%	2,4 k €	-78.7%	11,3 k €	+277%	-6,4 k €	-453%	1,8 k €	-90.7%	19,4 k €	+134%	8,3 k €	+9.1%	7,6 k €	+192%	-8,2 k €
Balance sheet
Equity	132,8 k €	+1.1%	131,4 k €	+4.8%	125,4 k €	+5.3%	119,1 k €	-33.9%	180,2 k €	+32.9%	135,6 k €	+1.0%	134,3 k €	+0.7%	133,4 k €	+2.2%	130,5 k €	+1.5%	128,6 k €	+1.0%	127,3 k €	+0.9%	126,1 k €	-5.5%	133,4 k €	+9.3%	122,1 k €	-5.0%	128,5 k €	+1.4%	126,7 k €	+18.1%	107,3 k €	+8.4%	99,0 k €	+8.3%	91,3 k €
Total assets	323,1 k €	+3.0%	313,7 k €	-28.9%	441,1 k €	+20.8%	365,1 k €	+8.1%	337,7 k €	+23.8%	272,9 k €	-4.1%	284,5 k €	-28.5%	397,7 k €	+22.7%	324,0 k €	-16.9%	390,0 k €	+14.2%	341,4 k €	-0.0%	341,4 k €	-11.7%	386,6 k €	-1.5%	392,4 k €	+5.5%	371,9 k €	+10.2%	337,5 k €	-0.9%	340,5 k €	-12.6%	389,6 k €	+20.4%	323,7 k €
Cash	101,2 k €	+15.5%	87,7 k €	-54.8%	194,1 k €	+11.4%	174,2 k €	+100%	87,1 k €	+128%	38,2 k €	+1252%	2,8 k €	-94.3%	49,3 k €	-25.3%	66,0 k €	+396%	13,3 k €	+66.0%	8,0 k €	+20.5%	6,7 k €	-53.6%	14,3 k €	+442%	2,6 k €	-44.3%	4,8 k €	-88.6%	41,8 k €	+119%	19,1 k €	+1.5%	18,8 k €	-52.3%	39,5 k €
Debts	190,3 k €	+4.4%	182,3 k €	-42.3%	315,7 k €	+28.3%	246,1 k €	+56.2%	157,5 k €	+14.7%	137,3 k €	-8.6%	150,2 k €	-43.2%	264,3 k €	+36.6%	193,5 k €	-26.0%	261,5 k €	+22.1%	214,1 k €	-0.6%	215,3 k €	-15.0%	253,2 k €	-6.3%	270,3 k €	+11.0%	243,4 k €	+15.4%	210,8 k €	-9.6%	233,3 k €	-19.7%	290,6 k €	+25.1%	232,4 k €
Other
Workforce	3,9 ETP	-31.6%	5,7 ETP		–		–		–		7,1 ETP	+9.2%	6,5 ETP	-13.3%	7,5 ETP	+11.9%	6,7 ETP	+6.3%	6,3 ETP	+18.9%	5,3 ETP	+8.2%	4,9 ETP	+16.7%	4,2 ETP	-14.3%	4,9 ETP	+6.5%	4,6 ETP	+15.0%	4,0 ETP	-20.0%	5,0 ETP	+2.0%	4,9 ETP	+8.9%	4,5 ETP

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 30/06/2025 · 1 active · 4 ended

Active mandates

Serge GOURARY

Director · since 23 mai 2022

Active

Ended mandates

SERGE GOURARY

Director

Ended

SERGE GOURARY

Managing director

Ended

SERGE GOURARY

Manager

Ended

SERGE GOURRARY

Director

Ended

At this address

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Micro model	Micro model	Micro model	Abridged model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	11/02/2026	17/12/2024	30/01/2024	31/01/2023	05/01/2022	25/12/2020
General meeting	02/12/2025	03/12/2024	05/12/2023	06/12/2022	04/10/2021	05/10/2020
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
Abridged model	30/06/2025	02/12/2025	11/02/2026	French	PDF
Abridged model	30/06/2024	03/12/2024	17/12/2024	French	PDF
Micro model	30/06/2023	05/12/2023	30/01/2024	French	PDF
Micro model	30/06/2022	06/12/2022	31/01/2023	French	PDF
Micro model	30/06/2021	04/10/2021	05/01/2022	French	PDF
Abridged model	30/06/2020	05/10/2020	25/12/2020	French	PDF
Abridged model	30/06/2019	07/10/2019	03/02/2020	French	PDF
Abridged model	30/06/2018	01/10/2018	26/11/2018	French	PDF
Abridged model	30/06/2017	02/10/2017	27/11/2017	French	PDF
Abridged model	30/06/2016	03/10/2016	01/12/2016	French	PDF
Abridged model	30/06/2015	05/10/2015	15/12/2015	French	PDF
Abridged model	30/06/2014	06/10/2014	31/12/2014	French	PDF
Abridged model	30/06/2013	07/10/2013	20/12/2013	French	PDF
Abridged model	30/06/2012	04/10/2012	03/12/2012	French	PDF
Abridged model	30/06/2011	05/10/2011	24/12/2011	French	PDF
Abridged model	30/06/2010	06/10/2010	24/12/2010	French	PDF
Abridged model	30/06/2009	07/10/2009	29/01/2010	French	PDF
Abridged model	30/06/2008	06/10/2008	10/02/2009	French	PDF
Abridged model	30/06/2007	01/10/2007	19/02/2008	French	PDF
Abridged model	30/06/2006	02/10/2006	31/01/2007	French	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 30/06/2025 · 1 active · 4 ended

Active mandates

Serge GOURARY

Director · since 23 mai 2022

Active

Ended mandates

SERGE GOURARY

Director

Ended

SERGE GOURARY

Managing director

Ended

SERGE GOURARY

Manager

Ended

SERGE GOURRARY

Director

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates02/06/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - OBJET - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Registered office30/11/2018
SIEGE SOCIAL
PDF
Registered office31/08/2015
SIEGE SOCIAL
PDF
Capital / shares06/06/2014
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates26/07/2010
DEMISSIONS, NOMINATIONS
PDF
Registered office22/02/2005
SIEGE SOCIAL
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 20253,1 k €↓
2025
Name changeKEYSOURCE
2024
Annual accounts 20247,6 k €↓
2023
Annual accounts 20238,0 k €↓
2022
Annual accounts 202227,8 k €↓
2022
Name changeKEY SOURCE
2021
Annual accounts 202146,2 k €↑
2020
Annual accounts 20202,9 k €↑
2019
Annual accounts 2019928,6 €↓
2018
Annual accounts 20182,9 k €↑
2017
Annual accounts 20171,9 k €↑
2016
Annual accounts 20161,2 k €↑
2015
Annual accounts 20151,2 k €↓
2014
Annual accounts 20142,4 k €↓
2013
Annual accounts 201311,3 k €↑
2012
Annual accounts 2012-6,4 k €↓
2011
Annual accounts 20111,8 k €↓
2010
Annual accounts 201019,4 k €↑
2009
Annual accounts 20098,3 k €↑
2008
Annual accounts 20087,6 k €↑
2007
Annual accounts 2007-8,2 k €
24/08/1988
IncorporationPrivate 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

KEYSOURCE

Overview

What does KEYSOURCE do?

Trend over 19 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