ACTIVE

MINA

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Financial year 2025 · closed on 30/11/2025

Net result

63,9 k €

+8.0% YoY

Gross margin

133,8 k €

+6.5% YoY

Equity

373,3 k €

+20.6% YoY

What does MINA do?

MINA is a Private limited company incorporated in 1988. Its main activity is: Management consultancy activities. Its registered office is in Anderlecht.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0435.251.470

Incorporation

06/09/1988

Legal form

Private limited company

Registered office

Rue du Potaerdenberg 181
1070 Anderlecht · BruxellesSee on map

Contributed capital

26 647,00 €

Latest accounts

30/11/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2008
Income statement
Gross margin	133,8 k €	+6.5%	125,6 k €	+13.2%	111 k €	+6.2%	104,4 k €	+4.8%	99,7 k €	+245%	28,9 k €	+29.0%	22,4 k €	-8.6%	24,5 k €	-15.7%	29,1 k €	-29.3%	41,2 k €	-15.1%	48,5 k €	-12.7%	55,5 k €	-6.3%	59,3 k €	+12.4%	52,7 k €	-48.4%	102,1 k €	-4.8%	107,2 k €	+81.5%	59,1 k €
EBITDA	128,6 k €	+7.7%	119,5 k €	+12.0%	106,6 k €	+6.2%	100,4 k €	+4.6%	96 k €	+281%	25,2 k €	+34.6%	18,7 k €	-8.0%	20,3 k €	-20.1%	25,5 k €	-31.1%	37 k €	-16.8%	44,4 k €	-7.5%	48 k €	-11.6%	54,3 k €	+11.8%	48,6 k €	-50.4%	98,1 k €	-2.0%	100,1 k €	+83.6%	54,5 k €
Operating result	94,7 k €	+4.1%	90,9 k €	+6.3%	85,5 k €	+6.8%	80,1 k €	+5.8%	75,6 k €	+5487%	1,4 k €	+113%	-10,5 k €	-4.1%	-10,1 k €	-26.4%	-8 k €	-300%	-2 k €	-332%	860,4 €	-73.9%	3,3 k €	-63.7%	9,1 k €	-10.8%	10,2 k €	-80.5%	52,1 k €	-18.3%	63,8 k €	+529%	-14,9 k €
Net result	63,9 k €	+8.0%	59,1 k €	+0.5%	58,8 k €	-0.6%	59,2 k €	+10.3%	53,6 k €	+13184%	-410 €	+96.2%	-10,7 k €	-7.1%	-10 k €	-24.9%	-8 k €	-116%	-3,7 k €	+38.3%	-6 k €	-8.9%	-5,5 k €	-4268%	-125,9 €	-373%	46,2 €	+103%	-1,7 k €	-103%	49 k €	+316%	-22,7 k €
Balance sheet
Equity	373,3 k €	+20.6%	309,4 k €	-50.7%	627,1 k €	+10.4%	568,2 k €	+10.8%	513 k €	+11.7%	459,4 k €	+1.9%	450,8 k €	-2.3%	461,5 k €	-2.1%	471,4 k €	-1.7%	479,4 k €	-0.8%	483,1 k €	-1.2%	489,1 k €	-1.1%	494,6 k €	-7.8%	536,6 k €	+0.0%	536,5 k €	-0.3%	538,2 k €	+9.5%	491,4 k €
Total assets	448,7 k €	+15.0%	390 k €	-46.0%	721,9 k €	+8.2%	666,9 k €	+6.9%	623,9 k €	+7.7%	579,1 k €	-1.6%	588,8 k €	-1.5%	597,6 k €	-3.6%	619,9 k €	-1.8%	631,4 k €	-1.4%	640,6 k €	-4.0%	667,1 k €	-10.7%	747 k €	-0.2%	748,5 k €	-4.6%	784,4 k €	-2.5%	804,5 k €	-9.3%	886,7 k €
Cash	136,3 k €	+109%	65,1 k €	-84.7%	425,2 k €	+21.0%	351,3 k €	+21.5%	289 k €	+24.3%	232,5 k €	+8.8%	213,8 k €	+10.6%	193,2 k €	+0.8%	191,7 k €	+36.4%	140,5 k €	-7.2%	151,4 k €	+41.0%	107,4 k €	-12.6%	122,8 k €	+21.9%	100,7 k €	+27.9%	78,8 k €	+31.6%	59,8 k €	+86.0%	32,2 k €
Debts	75,4 k €	-5.0%	79,4 k €	-12.9%	91,2 k €	-1.6%	92,6 k €	-10.1%	103,1 k €	-3.5%	106,8 k €	-6.1%	113,8 k €	+5.9%	107,5 k €	-6.9%	115,4 k €	+0.8%	114,6 k €	-1.0%	115,7 k €	-11.5%	130,7 k €	-34.8%	200,5 k €	+27.8%	156,9 k €	-17.7%	190,7 k €	-7.8%	206,9 k €	-37.2%	329,6 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/11/2025 · 2 active · 1 ended

Active mandates

Michel Comblin

Mandate

Active

Michel Comblin

Mandate

Active

Ended mandates

Michel COMBLIN

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/12/2024	01/12/2023	01/12/2022	01/12/2021	01/12/2020	01/12/2019
Closing of the financial year	30/11/2025	30/11/2024	30/11/2023	30/11/2022	30/11/2021	30/11/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	25/06/2026	13/07/2025	17/07/2024	25/06/2023	12/06/2022	18/07/2021
General meeting	23/06/2026	23/06/2025	23/06/2024	11/06/2023	12/06/2022	21/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/11/2025	23/06/2026	25/06/2026	French	PDF
Micro model	30/11/2024	23/06/2025	13/07/2025	French	PDF
Micro model	30/11/2023	23/06/2024	17/07/2024	French	PDF
Micro model	30/11/2022	11/06/2023	25/06/2023	French	PDF
Micro model	30/11/2021	12/06/2022	12/06/2022	French	PDF
Micro model	30/11/2020	21/06/2021	18/07/2021	French	PDF
Micro model	30/11/2019	19/07/2020	30/07/2020	French	PDF
Micro model	30/11/2018	08/07/2019	23/07/2019	French	PDF
Micro model	30/11/2017	27/05/2018	24/06/2018	French	PDF
Abridged model	30/11/2016	26/05/2017	26/07/2017	French	PDF
Abridged model	30/11/2015	28/06/2016	29/07/2016	French	PDF
Abridged model	30/11/2014	26/07/2015	28/07/2015	French	PDF
Abridged model	30/11/2013	26/06/2014	27/07/2014	French	PDF
Abridged model	30/11/2012	11/08/2013	30/08/2013	French	PDF
Abridged model	30/11/2011	26/06/2012	27/06/2012	French	PDF
Abridged model	30/11/2010	30/05/2011	30/06/2011	French	PDF
Abridged model	30/11/2009	31/05/2010	29/06/2010	French	PDF
Abridged model	30/11/2008	31/05/2009	29/06/2009	French	PDF
Abridged model	30/11/2007	26/05/2008	04/06/2008	French	PDF
Abridged model	30/11/2006	19/06/2007	25/06/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 30/11/2025 · 2 active · 1 ended

Active mandates

Michel Comblin

Mandate

Active

Michel Comblin

Mandate

Active

Ended mandates

Michel COMBLIN

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other05/05/2026
OBJET
PDF
Mandates20/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DIVERS - ADRESSE AUTRE QUE SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Capital / shares31/12/2013
CAPITAL, ACTIONS
PDF
Capital / shares18/01/2008
AUGMENTATION DE CAPITAL — MODIFICATION DE L'OBJET SOCIAL -
PDF
Mandates24/07/2007
Transfert du siège social — Extrait de la décision du gérant du 29 juin 2007
PDF
Registered office27/12/2004
Transfert du siège 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 202563,9 k €↑
2024
Annual accounts 202459,1 k €↑
2023
Annual accounts 202358,8 k €↓
2022
Annual accounts 202259,2 k €↑
2021
Annual accounts 202153,6 k €↑
2020
Annual accounts 2020-410 €↑
2019
Annual accounts 2019-10,7 k €↓
2018
Annual accounts 2018-10 k €↓
2017
Annual accounts 2017-8 k €↓
2016
Annual accounts 2016-3,7 k €↑
2015
Annual accounts 2015-6 k €↓
2014
Annual accounts 2014-5,5 k €↓
2013
Annual accounts 2013-125,9 €↓
2012
Annual accounts 201246,2 €↑
2011
Annual accounts 2011-1,7 k €↓
2010
Annual accounts 201049 k €↑
2008
Annual accounts 2008-22,7 k €
06/09/1988
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

MINA

Overview

What does MINA do?

Trend over 17 financial years

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