ACTIVE

SEMATEX OPERATIONS

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Financial year 2025 · closed on 31/07/2025

Net result

850,2 k €

+15.1% YoY

Gross margin

2,1 M €

-26.3% YoY

Equity

3 M €

+20.1% YoY

Workforce

40,4 ETP

-5.6% YoY

What does SEMATEX OPERATIONS do?

SEMATEX OPERATIONS is a Private limited company incorporated in 1989. Its registered office is in Zele. It employs on average 40,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0438.180.672

Incorporation

25/08/1989

Legal form

Private limited company

Registered office

Textielstraat 2
9240 Zele · FlandreSee on map

Contributed capital

74 012,79 €

Latest accounts

31/07/2025

Average workforce

40,4 ETP

Joint committees (2)

14202
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	2,1 M €	-26.3%	2,8 M €	-24.0%	3,7 M €	+51.6%	2,4 M €	+117%	1,1 M €	+3.4%	1,1 M €	-22.3%	1,4 M €	+42.0%	977,1 k €	+39.2%	702,1 k €	-37.6%	1,1 M €	+43.9%	781,9 k €	+7.1%	729,8 k €	+42.0%	513,9 k €	+0.7%	510,4 k €	+12.1%	455,2 k €	+20.1%	379 k €	-11.5%	428 k €	-16.3%	511,2 k €	+16.3%	439,7 k €
EBITDA	908,1 k €	-39.5%	1,5 M €	-40.5%	2,5 M €	+61.4%	1,6 M €	+129%	681,9 k €	+127%	299,9 k €	-58.8%	728,1 k €	+22.0%	596,8 k €	+172%	219,7 k €	-67.4%	673,8 k €	+82.8%	368,6 k €	+9.8%	335,8 k €	+62.3%	206,9 k €	-1.2%	209,4 k €	+31.3%	159,6 k €	+1.6%	157,1 k €	-11.1%	176,6 k €	-30.3%	253,2 k €	+12.9%	224,3 k €
Operating result	1,1 M €	-3.7%	1,1 M €	-37.2%	1,8 M €	+87.5%	969,8 k €	+438%	180,2 k €	-33.0%	269,1 k €	-12.4%	307,1 k €	+52.6%	201,3 k €	+117%	92,8 k €	-25.4%	124,4 k €	-2.3%	127,4 k €	+18.4%	107,6 k €	-3.2%	111,1 k €	+10.3%	100,8 k €	+140%	41,9 k €	-1.6%	42,6 k €	-7.6%	46,1 k €	-59.9%	115 k €	+23.2%	93,4 k €
Net result	850,2 k €	+15.1%	738,5 k €	-41.3%	1,3 M €	+117%	579,8 k €	+582%	85 k €	-51.4%	174,9 k €	-20.0%	218,5 k €	+117%	100,7 k €	+672%	13 k €	-43.9%	23,2 k €	-42.8%	40,6 k €	+57.6%	25,8 k €	-48.3%	49,8 k €	+19.6%	41,7 k €	+476%	7,2 k €	+800%	-1 k €	-189%	1,2 k €	-94.9%	22,9 k €	-64.3%	64,1 k €
Balance sheet
Equity	3 M €	+20.1%	2,5 M €	-33.1%	3,7 M €	+51.3%	2,5 M €	+30.9%	1,9 M €	+4.7%	1,8 M €	+10.8%	1,6 M €	+15.6%	1,4 M €	+7.8%	1,3 M €	+0.3%	1,3 M €	+1.8%	1,3 M €	+3.3%	1,2 M €	+224%	379,9 k €	+15.1%	330,1 k €	+14.4%	288,4 k €	+2.6%	281,2 k €	-1.8%	286,3 k €	+0.2%	285,6 k €	+8.5%	263,2 k €
Total assets	4,1 M €	+9.5%	3,7 M €	-54.3%	8,1 M €	+78.0%	4,6 M €	+0.8%	4,5 M €	-4.5%	4,7 M €	+7.5%	4,4 M €	+42.5%	3,1 M €	+13.0%	2,7 M €	+7.5%	2,5 M €	+2.0%	2,5 M €	+5.3%	2,4 M €	+94.5%	1,2 M €	-9.5%	1,3 M €	-6.6%	1,4 M €	+30.9%	1,1 M €	-18.2%	1,3 M €	+2.4%	1,3 M €	-10.0%	1,5 M €
Cash	675,6 k €	+4.3%	647,9 k €	-23.9%	851,7 k €	+81.9%	468,1 k €	+60.0%	292,5 k €	+0.8%	290,1 k €	-11.3%	327 k €	+73.8%	188,1 k €	-40.7%	317,1 k €	+72.9%	183,4 k €	+283%	47,9 k €		–		50,3 k €	+15.1%	43,7 k €	+51.9%	28,8 k €	+417%	5,6 k €	-85.1%	37,3 k €	+426%	7,1 k €	-82.1%	39,7 k €
Debts	1,1 M €	-5.9%	1,1 M €	-74.1%	4,4 M €	+113%	2 M €	-21.5%	2,6 M €	-10.3%	2,9 M €	+4.5%	2,8 M €	+67.2%	1,7 M €	+18.1%	1,4 M €	+15.4%	1,2 M €	+2.1%	1,2 M €	+7.6%	1,1 M €	+32.8%	837,3 k €	-17.5%	1 M €	-11.3%	1,1 M €	+39.7%	819,5 k €	-22.4%	1,1 M €	+3.1%	1 M €	-14.1%	1,2 M €
Other
Workforce	40,4 ETP	-5.6%	42,8 ETP	+2.4%	41,8 ETP	+12.4%	37,2 ETP	+9.4%	34,0 ETP	+1.2%	33,6 ETP	+23.1%	27,3 ETP	+35.1%	20,2 ETP	+9.8%	18,4 ETP	+4.5%	17,6 ETP	+15.8%	15,2 ETP	+10.9%	13,7 ETP	+14.2%	12,0 ETP	+20.0%	10,0 ETP	-23.1%	13,0 ETP	+8.3%	12,0 ETP	+4.3%	11,5 ETP	-4.2%	12,0 ETP	-2.4%	12,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/07/2025 · 4 active · 5 ended

Active mandates

Imad-eddine Massini

Director

Active

Karim Massini

Director

Active

SEMATEX IMMO

Director · 1007.384.095

Represented by Chérine Massini

Active

Waddah Ghajar

Director

Active

Ended mandates

Ghajar WADDAH

Manager

Ended

Imad -Eddine MASSINI

Manager

Ended

Imad-eddine Massini

Mandate

Ended

IMAD-EDDINE MASSINI

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
SEMATEX IMMO● Active	1007.384.095

Annual accounts

Full financial information

	2025	2024	2023	2022	2020	2019
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/08/2024	01/08/2023	01/08/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/07/2025	31/07/2024	31/07/2023	31/07/2022	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	19 months	12 months	12 months
Filing date	28/02/2026	28/02/2025	13/02/2024	14/02/2023	29/03/2021	05/05/2020
General meeting	31/01/2026	31/01/2025	16/01/2024	17/01/2023	12/03/2021	07/04/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/07/2025	31/01/2026	28/02/2026	Dutch	PDF
Abridged model	31/07/2024	31/01/2025	28/02/2025	French	PDF
Abridged model	31/07/2023	16/01/2024	13/02/2024	Dutch	PDF
Abridged model	31/07/2022	17/01/2023	14/02/2023	French	PDF
Abridged model	31/12/2020	12/03/2021	29/03/2021	French	PDF
Abridged model	31/12/2019	07/04/2020	05/05/2020	French	PDF
Abridged model	31/12/2018	02/04/2019	10/04/2019	French	PDF
Abridged model	31/12/2017	03/04/2018	26/04/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	26/07/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	29/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	30/07/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	25/07/2014	Dutch	PDF
Abridged model	31/12/2012	02/04/2013	19/04/2013	Dutch	PDF
Abridged model	31/12/2011	03/04/2012	18/06/2012	Dutch	PDF
Abridged model	31/12/2010	05/04/2011	14/04/2011	Dutch	PDF
Abridged model	31/12/2009	06/04/2010	29/04/2010	Dutch	PDF
Abridged model	31/12/2008	07/04/2009	16/04/2009	Dutch	PDF
Abridged model	31/12/2007	01/04/2008	10/04/2008	Dutch	PDF
Abridged model	31/12/2006	03/04/2007	10/04/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 31/07/2025 · 4 active · 5 ended

Active mandates

Imad-eddine Massini

Director

Active

Karim Massini

Director

Active

SEMATEX IMMO

Director · 1007.384.095

Represented by Chérine Massini

Active

Waddah Ghajar

Director

Active

Ended mandates

Ghajar WADDAH

Manager

Ended

Imad -Eddine MASSINI

Manager

Ended

Imad-eddine Massini

Mandate

Ended

IMAD-EDDINE MASSINI

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring02/04/2024
BENAMING - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring24/01/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates17/12/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates07/01/2016
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares02/01/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office09/09/2004
MAATSCHAPPELIJKE ZETEL
PDF
Mandates18/03/2004
ONTSLAGEN - BENOEMINGEN
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 2025850,2 k €↑
2024
Annual accounts 2024738,5 k €↓
2024
Name changeSematex Operations
2023
Annual accounts 20231,3 M €↑
2022
Annual accounts 2022579,8 k €↑
2022
Name changeSEMATEX
2020
Annual accounts 202085 k €↓
2019
Annual accounts 2019174,9 k €↓
2018
Annual accounts 2018218,5 k €↑
2017
Annual accounts 2017100,7 k €↑
2016
Annual accounts 201613 k €↓
2015
Annual accounts 201523,2 k €↓
2014
Annual accounts 201440,6 k €↑
2013
Annual accounts 201325,8 k €↓
2012
Annual accounts 201249,8 k €↑
2011
Annual accounts 201141,7 k €↑
2010
Annual accounts 20107,2 k €↑
2009
Annual accounts 2009-1 k €↓
2008
Annual accounts 20081,2 k €↓
2007
Annual accounts 200722,9 k €↓
2006
Annual accounts 200664,1 k €
25/08/1989
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

SEMATEX OPERATIONS

Overview

What does SEMATEX OPERATIONS do?

Trend over 19 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