ACTIVE

COURSE

Export PDF

Financial year 2024 · closed on 31/12/2024

Net result

40 k €

+108.7% YoY

Gross margin

208 k €

+35.1% YoY

Equity

666,7 k €

+6.4% YoY

Workforce

0,0 ETP

What does COURSE do?

COURSE is a Public limited company incorporated in 1989. Its main activity is: Management consultancy activities. Its registered office is in Sint-Niklaas.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0437.764.166

Incorporation

30/06/1989

Legal form

Public limited company

Registered office

Krekelstraat 43
9100 Sint-Niklaas · FlandreSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2024

Average workforce

0,0 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities 64200Activities of holding companies 64210Activities of holding companies 74151Specialised design activities

Joint committees (1)

Signals

ProfitablePositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	208 k €	+35.1%	154 k €	+23.2%	125 k €	-7.9%	135,7 k €	+92.9%	70,3 k €	+49.3%	47,1 k €	-78.7%	221,5 k €	+50.3%	147,4 k €	-1.0%	148,9 k €	-24.9%	198,1 k €	+74.8%	113,3 k €	-49.4%	223,8 k €	+84.7%	121,1 k €	-26.1%	163,9 k €	+67.5%	97,8 k €	+21.9%	80,3 k €	+10.3%	72,8 k €
EBITDA	194 k €	+38.2%	140,4 k €	+25.1%	112,2 k €	+18.6%	94,6 k €	+150%	37,8 k €	+144%	15,5 k €	-92.0%	193,3 k €	+64.3%	117,6 k €	-2.2%	120,3 k €	-30.2%	172,3 k €	+58.8%	108,5 k €	-50.7%	220 k €	+86.7%	117,8 k €	-26.8%	161 k €	+71.3%	94 k €	+31.8%	71,3 k €	-0.7%	71,8 k €
Operating result	135,7 k €	+65.3%	82,1 k €	+37.8%	59,6 k €	+24.6%	47,8 k €	+27.8%	37,4 k €	+145%	15,3 k €	-90.8%	165,5 k €	+87.0%	88,5 k €	-1.6%	89,9 k €	-34.3%	136,9 k €	+58.9%	86,2 k €	-57.8%	204,3 k €	+100%	102,1 k €	-29.7%	145,3 k €	+85.6%	78,3 k €	+40.8%	55,6 k €	-22.6%	71,8 k €
Net result	40 k €	+109%	19,2 k €	+147%	7,8 k €	+564%	-1,7 k €	-124%	7 k €	+277%	-3,9 k €	-105%	81,9 k €	+270%	22,1 k €	-46.1%	41 k €	-34.3%	62,4 k €	+44.7%	43,1 k €	-82.8%	251,3 k €	+553%	38,5 k €	-10.3%	42,9 k €	+6021%	700,8 €	-97.6%	29,3 k €	+1228%	2,2 k €
Balance sheet
Equity	666,7 k €	+6.4%	626,6 k €	-28.7%	879,1 k €	+0.9%	871,4 k €	+6.5%	817,8 k €	-14.2%	953,7 k €	-6.6%	1 M €	+8.7%	939,3 k €	-0.9%	947,8 k €	+4.5%	906,8 k €	+7.4%	844,4 k €	+1.6%	831,3 k €	+32.4%	628 k €	+0.4%	625,5 k €	+0.1%	624,6 k €	+0.1%	623,9 k €	+2.1%	610,8 k €
Total assets	3 M €	-2.0%	3 M €	-2.0%	3,1 M €	-0.6%	3,1 M €	+54.1%	2 M €	+7.6%	1,9 M €	-0.6%	1,9 M €	-7.9%	2 M €	+6.6%	1,9 M €	-0.9%	1,9 M €	+0.2%	1,9 M €	+7.6%	1,8 M €	-0.5%	1,8 M €	-0.8%	1,8 M €	-4.8%	1,9 M €	-0.5%	1,9 M €	-0.3%	1,9 M €
Cash	1,8 k €	+228%	542,1 €	-85.6%	3,8 k €	+40.7%	2,7 k €	-74.9%	10,7 k €	+3.0%	10,4 k €	+62.5%	6,4 k €	+26.9%	5 k €	-36.8%	8 k €	+59.6%	5 k €	-73.6%	18,9 k €	+273%	5,1 k €	+232%	1,5 k €	+28.3%	1,2 k €	-79.7%	5,9 k €	+1532%	359,3 €	+62.6%	221 €
Debts	2,2 M €	-4.6%	2,3 M €	+8.4%	2,2 M €	-1.4%	2,2 M €	+85.2%	1,2 M €	+30.2%	910,7 k €	+6.7%	853,6 k €	-20.9%	1,1 M €	+14.3%	943,7 k €	-4.2%	984,9 k €	-5.6%	1 M €	+15.0%	907,9 k €	-19.0%	1,1 M €	+0.9%	1,1 M €	-9.0%	1,2 M €	-1.1%	1,2 M €	-1.3%	1,2 M €
Other
Workforce	0,0 ETP		0,0 ETP		–		0,9 ETP	-10.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 2 active · 15 ended

Active mandates

Chris Valkiers

Managing director · since 28 septembre 2021 · until 28 septembre 2027

Active

Luc Valkiers

Managing director · since 28 septembre 2021 · until 28 septembre 2027

Active

Ended mandates

Chris Valkiers

Managing director · since 20 décembre 2017 · until 20 décembre 2023

Ended

Luc Valkiers

Managing director · since 20 décembre 2017 · until 20 décembre 2023

Ended

Chris Valkiers

Mandate · since 27 novembre 2011 · until 27 novembre 2017

Ended

Chris Valkiers

Managing director · since 27 novembre 2011 · until 27 novembre 2017

Ended

At this address

Other companies at this address

Company	CBE no.
32 INVEST● Active	0467.041.934
Consoorten Ingrid De Clercq● Active	0723.738.873
DECEBRA● Active	0429.260.533
LUME REAL ESTATE● Active	0432.453.120

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	20/06/2025	04/07/2024	23/05/2023	14/06/2022	31/08/2021	17/09/2020
General meeting	10/06/2025	10/06/2024	24/04/2023	13/06/2022	14/06/2021	17/08/2020
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

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2024	10/06/2025	20/06/2025	Dutch	PDF
Abridged model	31/12/2023	10/06/2024	04/07/2024	Dutch	PDF
Abridged model	31/12/2022	24/04/2023	23/05/2023	Dutch	PDF
Abridged model	31/12/2021	13/06/2022	14/06/2022	Dutch	PDF
Abridged model	31/12/2020	14/06/2021	31/08/2021	Dutch	PDF
Abridged model	31/12/2019	17/08/2020	17/09/2020	Dutch	PDF
Abridged model	31/12/2018	17/06/2019	17/07/2019	Dutch	PDF
Abridged model	31/12/2017	11/06/2018	15/06/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	26/07/2017	Dutch	PDF
Abridged model	31/12/2015	13/06/2016	20/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/05/2015	01/06/2015	Dutch	PDF
Abridged model	31/12/2013	30/05/2014	13/06/2014	Dutch	PDF
Abridged model	31/12/2012	29/08/2013	30/08/2013	Dutch	PDF
Abridged model	31/12/2011	31/03/2012	24/04/2012	Dutch	PDF
Abridged model	31/12/2010	30/04/2011	31/05/2011	Dutch	PDF
Abridged model	31/12/2009	30/04/2010	07/06/2010	Dutch	PDF
Abridged model	31/12/2008	31/08/2009	31/08/2009	Dutch	PDF
Abridged model	31/12/2007	20/05/2008	28/05/2008	Dutch	PDF
Abridged model	31/12/2006	21/05/2007	08/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 31/12/2024 · 2 active · 15 ended

Active mandates

Chris Valkiers

Managing director · since 28 septembre 2021 · until 28 septembre 2027

Active

Luc Valkiers

Managing director · since 28 septembre 2021 · until 28 septembre 2027

Active

Ended mandates

Chris Valkiers

Managing director · since 20 décembre 2017 · until 20 décembre 2023

Ended

Luc Valkiers

Managing director · since 20 décembre 2017 · until 20 décembre 2023

Ended

Chris Valkiers

Mandate · since 27 novembre 2011 · until 27 novembre 2017

Ended

Chris Valkiers

Managing director · since 27 novembre 2011 · until 27 novembre 2017

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/09/2025
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/10/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates09/01/2018
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/01/2012
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/04/2008
ONTSLAGEN - BENOEMINGEN
PDF
Registered office07/02/2006
MAATSCHAPPELIJKE ZETEL
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

2024
Annual accounts 202440 k €↑
2023
Annual accounts 202319,2 k €↑
2022
Annual accounts 20227,8 k €↑
2021
Annual accounts 2021-1,7 k €↓
2018
Annual accounts 20187 k €↑
2017
Annual accounts 2017-3,9 k €↓
2016
Annual accounts 201681,9 k €↑
2015
Annual accounts 201522,1 k €↓
2014
Annual accounts 201441 k €↓
2013
Annual accounts 201362,4 k €↑
2012
Annual accounts 201243,1 k €↓
2011
Annual accounts 2011251,3 k €↑
2010
Annual accounts 201038,5 k €↓
2009
Annual accounts 200942,9 k €↑
2008
Annual accounts 2008700,8 €↓
2007
Annual accounts 200729,3 k €↑
2006
Annual accounts 20062,2 k €
30/06/1989
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

COURSE

Overview

What does COURSE do?

Trend over 17 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