ACTIVE

SUMAR

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Financial year 2025 · closed on 30/12/2025

Net result

730,8 €

+103.4% YoY

Gross margin

31,4 k €

+425.0% YoY

Equity

132,9 k €

-67.2% YoY

What does SUMAR do?

SUMAR is a Private limited company incorporated in 1989. Its main activity is: Management consultancy activities. Its registered office is in Waasmunster.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0436.809.311

Incorporation

20/02/1989

Legal form

Private limited company

Registered office

Bosstraat 20
9250 Waasmunster · FlandreSee on map

Contributed capital

27 500,00 €

Latest accounts

30/12/2025

Activities (NACE)

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

Signals

ProfitablePositive cashflowPositive EBITDA

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Health score

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Recommended credit limit

✦ 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		2009
Income statement
Gross margin	31,4 k €	+425%	6 k €	-90.1%	60,3 k €	-66.4%	179,2 k €	-23.8%	235,1 k €	+57.7%	149,1 k €	+23.1%	121,2 k €	+14.4%	105,9 k €	-36.5%	166,7 k €	-21.4%	212,1 k €	-6.0%	225,7 k €	-3.1%	233 k €	+11.4%	209,1 k €	+89.7%	110,2 k €	+0.3%	109,9 k €	-54.6%	242 k €	-33.5%	364,1 k €
EBITDA	27,4 k €	+1696%	1,5 k €	-97.1%	53,2 k €	-69.7%	175,5 k €	-23.9%	230,6 k €	+59.8%	144,3 k €	+24.2%	116,2 k €	+14.3%	101,7 k €	-37.3%	162,1 k €	-22.3%	208,5 k €	-5.9%	221,5 k €	-3.2%	228,9 k €	+11.5%	205,3 k €	+92.5%	106,7 k €	+2.2%	104,4 k €	-56.0%	237,4 k €	-33.0%	354,6 k €
Operating result	12,7 k €	+189%	-14,3 k €	-138%	37,7 k €	-75.3%	152,7 k €	-26.6%	207,9 k €	+78.1%	116,7 k €	+32.2%	88,3 k €	+23.3%	71,6 k €	-40.0%	119,3 k €	-26.3%	161,8 k €	+0.7%	160,7 k €	-3.1%	165,8 k €	+14.3%	145,1 k €	+218%	45,7 k €	+38.3%	33 k €	-75.1%	132,5 k €	-8.4%	144,7 k €
Net result	730,8 €	+103%	-21,7 k €	-222%	17,8 k €	-82.3%	100,8 k €	-27.9%	139,7 k €	+89.1%	73,9 k €	+19.3%	62 k €	+54.1%	40,2 k €	-51.0%	82 k €	-26.5%	111,5 k €	-0.6%	112,2 k €	-2.4%	114,9 k €	+18.5%	97 k €	+217%	30,6 k €	-69.7%	100,7 k €	+38.5%	72,7 k €	-60.5%	183,9 k €
Balance sheet
Equity	132,9 k €	-67.2%	405 k €	-18.5%	496,7 k €	+3.7%	478,9 k €	+26.6%	378,2 k €	+46.3%	258,4 k €	-17.8%	314,5 k €	+24.5%	252,6 k €	+18.9%	212,4 k €	-10.2%	236,4 k €	-3.9%	245,9 k €	-8.8%	269,7 k €	-15.9%	320,8 k €	-30.2%	459,8 k €	+3.5%	444,2 k €	-16.7%	533,6 k €	+15.8%	460,8 k €
Total assets	449,7 k €	-29.5%	637,9 k €	-7.8%	691,8 k €	+5.9%	653 k €	+14.4%	570,8 k €	-19.8%	711,4 k €	-14.0%	826,7 k €	+8.5%	761,7 k €	+0.9%	754,8 k €	+6.0%	712 k €	-6.0%	757,5 k €	-1.4%	767,9 k €	-12.3%	875,9 k €	-2.3%	896,4 k €	-6.5%	958,3 k €	-29.2%	1,4 M €	-4.5%	1,4 M €
Cash	1,4 k €	+206%	471,7 €	-99.4%	74,6 k €	+824%	8,1 k €	+2.9%	7,8 k €	-33.9%	11,9 k €	-70.6%	40,3 k €	+5.5%	38,2 k €	+40.2%	27,3 k €	+405%	5,4 k €	-79.5%	26,3 k €	+369%	5,6 k €	-91.3%	64,7 k €	+362%	14 k €	-1.2%	14,2 k €	-77.2%	62,2 k €	+187%	21,7 k €
Debts	316,8 k €	+36.1%	232,8 k €	+19.3%	195,1 k €	+12.1%	174,1 k €	-9.6%	192,7 k €	-57.3%	451 k €	-11.7%	510,7 k €	+0.3%	509,1 k €	-5.9%	541,1 k €	+14.0%	474,5 k €	-7.3%	511,6 k €	+2.7%	498,3 k €	-10.2%	555,1 k €	+27.2%	436,6 k €	-15.1%	514 k €	-37.3%	819,3 k €	-14.0%	952,7 k €

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 30/12/2025 · 1 active · 3 ended

Active mandates

Nathalie Cogen

Director · since 27 juillet 2017

Active

Ended mandates

Nathalie Cogen

Manager · since 27 juillet 2017

Ended

Marcel Cogen

Director · since 22 décembre 1997

Ended

Marcel Cogen

Manager · since 22 décembre 1997

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	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Closing of the financial year	30/12/2025	30/12/2024	30/12/2023	30/12/2022	30/12/2021	30/12/2020
Length of the financial year	13 months	13 months	13 months	13 months	13 months	13 months
Filing date	30/07/2026	25/07/2025	31/07/2024	31/07/2023	22/01/2022	13/03/2021
General meeting	27/06/2026	27/06/2025	28/06/2024	30/06/2023	21/01/2022	27/02/2021
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

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/12/2025	27/06/2026	30/07/2026	Dutch	PDF
Micro model	30/12/2024	27/06/2025	25/07/2025	Dutch	PDF
Micro model	30/12/2023	28/06/2024	31/07/2024	Dutch	PDF
Micro model	30/12/2022	30/06/2023	31/07/2023	Dutch	PDF
Micro model	30/12/2021	21/01/2022	22/01/2022	Dutch	PDF
Micro model	30/12/2020	27/02/2021	13/03/2021	Dutch	PDF
Micro model	30/12/2019	27/06/2020	22/07/2020	Dutch	PDF
Micro model	30/12/2018	27/06/2019	28/06/2019	Dutch	PDF
Micro model	30/12/2017	10/01/2018	21/06/2018	Dutch	PDF
Abridged model	30/12/2016	10/01/2017	27/06/2017	Dutch	PDF
Abridged model	30/12/2015	30/05/2016	31/05/2016	Dutch	PDF
Abridged model	30/12/2014	29/06/2015	29/06/2015	Dutch	PDF
Abridged model	30/12/2013	31/01/2014	03/07/2014	Dutch	PDF
Abridged model	30/12/2012	31/01/2013	01/02/2013	Dutch	PDF
Abridged model	30/12/2011	25/06/2012	27/06/2012	Dutch	PDF
Abridged model	30/12/2010	27/06/2011	29/06/2011	Dutch	PDF
Abridged model	30/12/2009	05/01/2010	30/07/2010	Dutch	PDF
Abridged model	31/03/2008	30/09/2008	28/10/2008	Dutch	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 30/12/2025 · 1 active · 3 ended

Active mandates

Nathalie Cogen

Director · since 27 juillet 2017

Active

Ended mandates

Nathalie Cogen

Manager · since 27 juillet 2017

Ended

Marcel Cogen

Director · since 22 décembre 1997

Ended

Marcel Cogen

Manager · since 22 décembre 1997

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates18/09/2023
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/08/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/05/2009
ONTSLAGEN - BENOEMINGEN - DIVERSEN
PDF
Registered office18/02/2009
MAATSCHAPPELIJKE ZETEL - KAPITAAL - AANDELEN - BOEKJAAR - WIJZIGING RECHTSVORM
PDF
Capital / shares27/06/2007
BOEKJAAR - ALGEMENE VERGADERING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares03/10/2005
KAPITAAL - AANDELEN - BOEKJAAR - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 2025730,8 €↑
2024
Annual accounts 2024-21,7 k €↓
2023
Annual accounts 202317,8 k €↓
2022
Annual accounts 2022100,8 k €↓
2021
Annual accounts 2021139,7 k €↑
2020
Annual accounts 202073,9 k €↑
2019
Annual accounts 201962 k €↑
2018
Annual accounts 201840,2 k €↓
2017
Annual accounts 201782 k €↓
2016
Annual accounts 2016111,5 k €↓
2015
Annual accounts 2015112,2 k €↓
2014
Annual accounts 2014114,9 k €↑
2013
Annual accounts 201397 k €↑
2012
Annual accounts 201230,6 k €↓
2011
Annual accounts 2011100,7 k €↑
2010
Annual accounts 201072,7 k €↓
2009
Annual accounts 2009183,9 k €
20/02/1989
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

SUMAR

Overview

What does SUMAR 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