ACTIVE

BUSINESS WAYS

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Financial year 2025 · closed on 30/09/2025

Net result

99,2 k €

-63.9% YoY

Gross margin

144,6 k €

-62.0% YoY

Equity

496,9 k €

-62.7% YoY

What does BUSINESS WAYS do?

BUSINESS WAYS is a Public limited company incorporated in 1989. Its main activity is: Market research and public opinion polling. Its registered office is in Walhain.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0437.436.742

Incorporation

11/05/1989

Legal form

Public limited company

Registered office

Rue du Bois de Buis(WSP) 106
1457 Walhain · WallonieSee on map

Contributed capital

61 500,00 €

Latest accounts

30/09/2025

Activities (NACE)

73200Market research and public opinion polling· main 73200Market research and public opinion polling 74131Specialised design activities

Contacts

1 public detail availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	144,6 k €	-62.0%	381 k €	+871%	39,2 k €	-94.6%	725,8 k €	+473%	126,7 k €	+45.5%	87,1 k €	-1.6%	88,5 k €	+0.5%	88 k €	+28.0%	68,8 k €	-32.6%	102,1 k €	+107%	49,4 k €	+47.5%	33,5 k €	+109%	-356,5 k €	-5483%	-6,4 k €	+91.7%	-76,6 k €	+41.9%	-131,8 k €	-1532%	9,2 k €	-95.9%	224,1 k €	+8.5%	206,4 k €
EBITDA	143,3 k €	-62.1%	378 k €	+1072%	32,2 k €	-95.5%	716,5 k €	+478%	123,9 k €	+46.6%	84,5 k €	-1.0%	85,3 k €	+0.5%	84,9 k €	+216%	-73,1 k €	-177%	95,3 k €	+102%	47,1 k €	+69.5%	27,8 k €	+331%	-12 k €	+13.0%	-13,8 k €	+82.8%	-80,4 k €	+41.5%	-137,4 k €	-3477%	4,1 k €	-96.4%	111,7 k €	+10.0%	101,6 k €
Operating result	140,8 k €	-62.5%	375,5 k €	+1138%	30,3 k €	-95.7%	712,2 k €	+489%	120,9 k €	+50.4%	80,4 k €	+2.1%	78,8 k €	+37.6%	57,3 k €	+160%	-96,2 k €	-231%	73,3 k €	+75.7%	41,7 k €	+1238%	-3,7 k €	+91.5%	-43,1 k €	+25.4%	-57,8 k €	+49.1%	-113,5 k €	+34.4%	-173,2 k €	-445%	-31,8 k €	-145%	70,8 k €	+58.4%	44,7 k €
Net result	99,2 k €	-63.9%	275,1 k €	+1209%	21 k €	-95.7%	494,5 k €	+483%	84,9 k €	+49.6%	56,7 k €	-13.6%	65,6 k €	-0.5%	66 k €	+173%	-90,6 k €	-195%	95,4 k €	-81.0%	502,2 k €	+4389%	11,2 k €	+149%	-22,7 k €	+52.3%	-47,7 k €	+88.6%	-418,5 k €	-136%	-177,3 k €	-111%	1,6 M €	+3311%	46,3 k €	-23.5%	60,5 k €
Balance sheet
Equity	496,9 k €	-62.7%	1,3 M €	+25.7%	1,1 M €	+2.0%	1 M €	+81.9%	570,7 k €	-13.8%	662,5 k €	+11.2%	596 k €	+12.2%	531,4 k €	-62.7%	1,4 M €	-6.0%	1,5 M €	+4.2%	1,5 M €	+42.0%	1 M €	-8.8%	1,1 M €	-9.8%	1,2 M €	-3.7%	1,3 M €	-24.4%	1,7 M €	-9.4%	1,9 M €	+507%	311 k €	+17.5%	264,7 k €
Total assets	1 M €	-28.9%	1,4 M €	+30.0%	1,1 M €	+1.5%	1,1 M €	+66.8%	647,2 k €	-4.8%	680,1 k €	-47.4%	1,3 M €	-16.7%	1,6 M €	+7.5%	1,4 M €	-5.3%	1,5 M €	+3.4%	1,5 M €	+42.3%	1 M €	-9.7%	1,1 M €	-28.8%	1,6 M €	-2.6%	1,7 M €	-19.8%	2,1 M €	-8.4%	2,3 M €	+229%	684,7 k €	+28.5%	532,9 k €
Cash	104,1 k €	-81.4%	558,1 k €	+1937%	27,4 k €	-88.8%	244,5 k €	+348%	54,5 k €	+47.2%	37,1 k €	-73.8%	141,4 k €	+50.2%	94,1 k €	-28.2%	131,1 k €	+521%	21,1 k €	-86.5%	155,9 k €	-35.7%	242,2 k €	+222%	75,2 k €	+660%	9,9 k €	-91.3%	113,9 k €	-62.8%	306,4 k €	+87.9%	163,1 k €	+28284%	574,5 €	-73.3%	2,2 k €
Debts	516,7 k €	+453%	93,4 k €	+153%	36,9 k €	-11.1%	41,6 k €	-45.7%	76,5 k €	+335%	17,6 k €	-97.5%	695,7 k €	-31.8%	1 M €	+5319%	18,8 k €	+122%	8,5 k €	-56.2%	19,4 k €	+66.2%	11,7 k €	-52.9%	24,8 k €	+48.0%	16,7 k €	+41.1%	11,9 k €	+439%	2,2 k €	-85.0%	14,7 k €	-39.2%	24,2 k €	+30.0%	18,6 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 1 active · 9 ended

Active mandates

Emmanuel BOIS D'ENGHIEN

Director · since 03 février 2023 · until 02 février 2029

Active

Ended mandates

EMMANUEL BOIS D'ENGHIEN

Chairman of the board of directors · since 02 juin 2017 · until 02 juin 2023

Ended

Fabienne MARISCHAL

Director · since 02 juin 2017 · until 02 juin 2023

Ended

René PETEAU

Director · since 02 juin 2017 · until 02 juin 2023

Ended

EMMANUEL BOIS D'ENGHIEN

Chairman of the board of directors · since 03 juin 2011 · until 02 juin 2017

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2020	2019
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	21 months	12 months	12 months
Filing date	02/02/2026	25/02/2025	06/02/2024	06/02/2023	05/07/2021	03/08/2020
General meeting	28/01/2026	07/02/2025	02/02/2024	03/02/2023	04/06/2021	05/06/2020
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
Micro model	30/09/2025	28/01/2026	02/02/2026	French	PDF
Micro model	30/09/2024	07/02/2025	25/02/2025	French	PDF
Micro model	30/09/2023	02/02/2024	06/02/2024	French	PDF
Micro model	30/09/2022	03/02/2023	06/02/2023	French	PDF
Micro model	31/12/2020	04/06/2021	05/07/2021	French	PDF
Micro model	31/12/2019	05/06/2020	03/08/2020	French	PDF
Micro model	31/12/2018	07/06/2019	29/08/2019	French	PDF
Micro model	31/12/2017	01/06/2018	31/08/2018	French	PDF
Micro model	31/12/2016	02/06/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	03/06/2016	31/12/2016	French	PDF
Abridged model	31/12/2014	05/06/2015	09/07/2015	French	PDF
Abridged model	31/12/2013	06/06/2014	31/08/2014	French	PDF
Abridged modelCorrection	31/12/2012	07/06/2013	08/10/2013	French	PDF
Abridged model	31/12/2012	07/06/2013	31/08/2013	French	PDF
Abridged model	31/12/2011	01/06/2012	29/08/2012	French	PDF
Abridged model	31/12/2010	03/06/2011	31/08/2011	French	PDF
Abridged model	31/12/2009	04/06/2010	30/08/2010	French	PDF
Abridged model	31/12/2008	05/06/2009	19/06/2009	French	PDF
Abridged model	31/12/2007	06/06/2008	30/06/2008	French	PDF
Abridged model	31/12/2006	16/06/2007	09/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 30/09/2025 · 1 active · 9 ended

Active mandates

Emmanuel BOIS D'ENGHIEN

Director · since 03 février 2023 · until 02 février 2029

Active

Ended mandates

EMMANUEL BOIS D'ENGHIEN

Chairman of the board of directors · since 02 juin 2017 · until 02 juin 2023

Ended

Fabienne MARISCHAL

Director · since 02 juin 2017 · until 02 juin 2023

Ended

René PETEAU

Director · since 02 juin 2017 · until 02 juin 2023

Ended

EMMANUEL BOIS D'ENGHIEN

Chairman of the board of directors · since 03 juin 2011 · until 02 juin 2017

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office12/09/2023
SIEGE SOCIAL
PDF
Mandates03/04/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates15/12/2021
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Mandates24/06/2019
DEMISSIONS, NOMINATIONS
PDF
Registered office31/05/2019
SIEGE SOCIAL
PDF
Mandates09/01/2018
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Capital / shares02/01/2014
OBJET - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Capital / shares19/09/2012
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 202599,2 k €↓
2024
Annual accounts 2024275,1 k €↑
2023
Annual accounts 202321 k €↓
2022
Annual accounts 2022494,5 k €↑
2020
Annual accounts 202084,9 k €↑
2019
Annual accounts 201956,7 k €↓
2018
Annual accounts 201865,6 k €↓
2017
Annual accounts 201766 k €↑
2016
Annual accounts 2016-90,6 k €↓
2015
Annual accounts 201595,4 k €↓
2014
Annual accounts 2014502,2 k €↑
2013
Annual accounts 201311,2 k €↑
2012
Annual accounts 2012-22,7 k €↑
2011
Annual accounts 2011-47,7 k €↑
2010
Annual accounts 2010-418,5 k €↓
2009
Annual accounts 2009-177,3 k €↓
2008
Annual accounts 20081,6 M €↑
2007
Annual accounts 200746,3 k €↓
2006
Annual accounts 200660,5 k €
11/05/1989
IncorporationPublic 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

BUSINESS WAYS

Overview

What does BUSINESS WAYS do?

Trend over 19 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