ACTIVE

SOL B

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Financial year 2025 · closed on 31/12/2025

Net result

1 M €

-19.6% YoY

Revenue

12,9 M €

+2.2% YoY

Equity

8,5 M €

+13.8% YoY

Workforce

24,3 ETP

+4.3% YoY

What does SOL B do?

SOL B is a Private limited company incorporated in 1989. Its registered office is in Lessines. It employs on average 24,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0436.652.131

Incorporation

27/01/1989

Legal form

Private limited company

Registered office

Zoning ouest(L) 15
7860 Lessines · WallonieSee on map

Contributed capital

5 508 625,00 €

Latest accounts

31/12/2025

Average workforce

24,3 ETP

Joint committees (2)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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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	12,9 M €	+2.2%	12,7 M €	+1.6%	12,4 M €	-3.2%	12,9 M €	+22.0%	10,5 M €	+9.5%	9,6 M €	-8.7%	10,5 M €	-20.0%	13,2 M €	+4.4%	12,6 M €	+0.0%	12,6 M €	+7.9%	11,7 M €	+7.3%	10,9 M €	-5.4%	11,5 M €	-9.0%	12,7 M €	+2.6%	12,3 M €	+16.5%	10,6 M €	-6.8%	11,4 M €	+2.2%	11,1 M €	+5.7%	10,5 M €	+7.6%	9,8 M €
EBITDA	2,9 M €	-1.5%	3 M €	+27.9%	2,3 M €	+39.5%	1,7 M €	-34.1%	2,5 M €	+25.4%	2 M €	+65.1%	1,2 M €	-22.5%	1,6 M €	-5.9%	1,7 M €	-14.0%	1,9 M €	+79.8%	1,1 M €	+3.2%	1 M €	-28.2%	1,5 M €	-11.4%	1,6 M €	+4.0%	1,6 M €	+29.7%	1,2 M €	-7.8%	1,3 M €	-24.0%	1,7 M €	+29.0%	1,3 M €	+15.6%	1,2 M €
Operating result	1,3 M €	-1.6%	1,3 M €	+85.6%	717,2 k €	+95.6%	366,7 k €	-60.1%	919,6 k €	+123%	411,9 k €	+646%	55,2 k €	-80.7%	285,7 k €	+72.4%	165,7 k €	+279%	-92,7 k €	+83.0%	-545 k €	-1.6%	-536,6 k €	-204%	-176,4 k €	-324%	78,6 k €	-29.5%	111,4 k €	+128%	-399,3 k €	-22.2%	-326,8 k €	-262%	201,7 k €	-28.2%	280,8 k €	+3945%	6,9 k €
Net result	1 M €	-19.6%	1,3 M €	+82.6%	698,9 k €	+110%	332,6 k €	-62.8%	894,3 k €	+135%	381,2 k €	+265%	104,5 k €	-54.7%	230,7 k €	+91.2%	120,7 k €	+170%	-173,5 k €	+70.1%	-580,9 k €	-3.8%	-559,4 k €	-38.4%	-404,1 k €	-422%	-77,4 k €	-30.3%	-59,4 k €	+89.5%	-567,5 k €	-35.9%	-417,7 k €	-519%	99,7 k €	-45.4%	182,5 k €	+298%	-91,9 k €
Balance sheet
Equity	8,5 M €	+13.8%	7,4 M €	+20.7%	6,2 M €	+12.8%	5,5 M €	+6.4%	5,1 M €	+21.0%	4,2 M €	+9.8%	3,9 M €	+2.7%	3,8 M €	+6.5%	3,5 M €	+3.5%	3,4 M €	-4.9%	3,6 M €	-14.0%	4,2 M €	-12.0%	4,7 M €	-8.0%	5,2 M €	-1.7%	5,2 M €	-1.3%	5,3 M €	+34.8%	3,9 M €	-9.8%	4,4 M €	+2.0%	4,3 M €	+4.1%	4,1 M €
Total assets	13,4 M €	+1.0%	13,3 M €	+0.4%	13,2 M €	-4.6%	13,9 M €	+9.8%	12,6 M €	-5.1%	13,3 M €	-13.1%	15,3 M €	-2.3%	15,7 M €	-19.2%	19,4 M €	+17.5%	16,5 M €	+13.4%	14,5 M €	+13.8%	12,8 M €	-1.9%	13 M €	-3.4%	13,5 M €	+3.8%	13 M €	+4.4%	12,4 M €	-1.6%	12,7 M €	-5.9%	13,4 M €	+9.0%	12,3 M €	-0.6%	12,4 M €
Cash	457,3 k €	-46.7%	858,2 k €	+173%	314,3 k €	-29.7%	446,8 k €	+1.9%	438,6 k €	+3.3%	424,5 k €	-43.5%	750,9 k €	-4.7%	787,8 k €	+64.9%	477,7 k €	+96.8%	242,7 k €	+0.5%	241,5 k €	+21.3%	199,1 k €	+162%	76,1 k €	-86.1%	549,1 k €	+42.7%	384,8 k €	+25.8%	305,8 k €	+15.9%	263,8 k €	-51.7%	546,5 k €	+19.3%	458 k €	+17.2%	390,7 k €
Debts	4,8 M €	-15.2%	5,6 M €	-18.6%	6,9 M €	-16.5%	8,3 M €	+13.6%	7,3 M €	-18.5%	8,9 M €	-21.0%	11,3 M €	-3.8%	11,7 M €	-25.4%	15,7 M €	+20.9%	13 M €	+20.0%	10,8 M €	+27.7%	8,5 M €	+4.0%	8,2 M €	-0.6%	8,2 M €	+8.7%	7,6 M €	+8.0%	7 M €	-18.5%	8,6 M €	-3.5%	8,9 M €	+12.4%	7,9 M €	-2.2%	8,1 M €
Other
Workforce	24,3 ETP	+4.3%	23,3 ETP	-6.8%	25,0 ETP	+7.8%	23,2 ETP	-1.3%	23,5 ETP	-7.1%	25,3 ETP	-7.0%	27,2 ETP	-4.2%	28,4 ETP	-7.5%	30,7 ETP	+3.0%	29,8 ETP	0.0%	29,8 ETP	+0.7%	29,6 ETP	-9.5%	32,7 ETP	+2.5%	31,9 ETP	+11.5%	28,6 ETP	+5.9%	27,0 ETP	-7.8%	29,3 ETP	+5.0%	27,9 ETP	-7.0%	30,0 ETP	0.0%	30,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active

Active mandates

GIOVANNI ANNONI

Mandate

Active

MARCO BORRONI

Mandate

Active

MATTEO FUMAGALLI ROMARIO

Mandate

Active

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	13/05/2026	11/06/2025	14/05/2024	21/04/2023	17/05/2022	27/04/2021
General meeting	24/04/2026	24/04/2025	23/04/2024	05/04/2023	07/04/2022	08/04/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	24/04/2026	13/05/2026	French	PDF
Full model	31/12/2024	24/04/2025	11/06/2025	French	PDF
Full model	31/12/2023	23/04/2024	14/05/2024	French	PDF
Full model	31/12/2022	05/04/2023	21/04/2023	French	PDF
Full model	31/12/2021	07/04/2022	17/05/2022	French	PDF
Full model	31/12/2020	08/04/2021	27/04/2021	French	PDF
Full model	31/12/2019	10/04/2020	04/05/2020	French	PDF
Full model	31/12/2018	10/04/2019	15/04/2019	French	PDF
Full model	31/12/2017	10/04/2018	07/05/2018	French	PDF
Full model	31/12/2016	10/04/2017	22/05/2017	French	PDF
Full model	31/12/2015	11/04/2016	20/04/2016	French	PDF
Full model	31/12/2014	13/04/2015	12/05/2015	French	PDF
Full model	31/12/2013	08/04/2014	09/09/2014	French	PDF
Full model	31/12/2012	05/04/2013	31/07/2013	French	PDF
Full model	31/12/2011	05/04/2012	30/07/2012	French	PDF
Full model	31/12/2010	07/04/2011	30/08/2011	French	PDF
Full model	31/12/2009	07/04/2010	31/08/2010	French	PDF
Full model	31/12/2008	07/04/2009	05/08/2009	French	PDF
Full model	31/12/2007	09/04/2008	09/09/2008	French	PDF
Full model	31/12/2006	11/04/2007	26/07/2007	French	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active

Active mandates

GIOVANNI ANNONI

Mandate

Active

MARCO BORRONI

Mandate

Active

MATTEO FUMAGALLI ROMARIO

Mandate

Active

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other27/03/2026
DIVERS
PDF
Mandates09/07/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates25/04/2024
DENOMINATION - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Other06/10/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Mandates11/05/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates07/12/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates03/03/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates22/05/2018
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 20251 M €↓
2025
Name changeSOL B
2024
Annual accounts 20241,3 M €↑
2024
Name changeSOL B ( Anciennement B.T.G - BELGISCHE TECHNISCHE GASSEN-G.T.B-GAZ TECHNIQUE BELGE )
2023
Annual accounts 2023698,9 k €↑
2022
Annual accounts 2022332,6 k €↓
2021
Annual accounts 2021894,3 k €↑
2021
Name changeB.T.G. - BELGISCHE TECHNISCHE GASSEN - G.T.B. - GAZ TECHNIQUE BELGE
2020
Annual accounts 2020381,2 k €↑
2019
Annual accounts 2019104,5 k €↓
2018
Annual accounts 2018230,7 k €↑
2017
Annual accounts 2017120,7 k €↑
2016
Annual accounts 2016-173,5 k €↑
2015
Annual accounts 2015-580,9 k €↓
2014
Annual accounts 2014-559,4 k €↓
2013
Annual accounts 2013-404,1 k €↓
2012
Annual accounts 2012-77,4 k €↓
2011
Annual accounts 2011-59,4 k €↑
2010
Annual accounts 2010-567,5 k €↓
2009
Annual accounts 2009-417,7 k €↓
2008
Annual accounts 200899,7 k €↓
2007
Annual accounts 2007182,5 k €↑
2006
Annual accounts 2006-91,9 k €
27/01/1989
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

SOL B

Overview

What does SOL B do?

Trend over 20 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