ACTIVE

MORRISON

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Financial year 2025 · closed on 31/12/2025

Net result

-119 k €

-149.0% YoY

Gross margin

281,3 k €

-12.2% YoY

Equity

484,8 k €

-19.7% YoY

Workforce

5,6 ETP

-3.4% YoY

What does MORRISON do?

MORRISON is a Private limited company incorporated in 1990. Its registered office is in De Panne. It employs on average 5,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0439.880.152

Incorporation

25/01/1990

Legal form

Private limited company

Registered office

Zeelaan 113 box A
8660 De Panne · FlandreSee on map

Contributed capital

12 397,33 €

Latest accounts

31/12/2025

Average workforce

5,6 ETP

Joint committees (2)

Signals

Solid equityHealthy social debts

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Health score

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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
Gross margin	281,3 k €	-12.2%	320,5 k €	+14.4%	280,2 k €	+43.3%	195,5 k €	-58.7%	473,5 k €	+124%	211,5 k €	-48.1%	407,6 k €	-2.5%	417,9 k €	-7.1%	450 k €	-5.2%	474,8 k €	-17.0%	572,2 k €	+5.2%	543,8 k €	-0.8%	548,3 k €	-0.9%	553,2 k €	+8.8%	508,2 k €	-10.6%	568,6 k €	+19.0%	477,9 k €	+3.9%	459,8 k €	-10.3%	512,7 k €	+11.8%	458,6 k €
EBITDA	-11,1 k €	-131%	36,3 k €	+67.2%	21,7 k €	+121%	-103,6 k €	-156%	184,1 k €	+639%	-34,1 k €	-152%	66 k €	-8.6%	72,3 k €	-43.7%	128,4 k €	-11.9%	145,8 k €	-37.6%	233,5 k €	+23.3%	189,4 k €	-19.0%	233,8 k €	+6.8%	218,9 k €	+1.6%	215,5 k €	-18.8%	265,4 k €	+77.9%	149,2 k €	-10.4%	166,5 k €	-35.7%	259,1 k €	+11.9%	231,6 k €
Operating result	-114,7 k €	-174%	-41,9 k €	+3.2%	-43,3 k €	+73.9%	-166,1 k €	-347%	67,2 k €	+171%	-94,5 k €	-17686%	537,3 €	-91.9%	6,6 k €	-90.2%	67,6 k €	-24.4%	89,4 k €	-49.4%	176,6 k €	+34.9%	130,9 k €	-24.7%	173,8 k €	+72.4%	100,8 k €	-45.1%	183,6 k €	-17.9%	223,6 k €	+91.4%	116,9 k €	-11.7%	132,3 k €	-39.1%	217,3 k €	+24.8%	174,2 k €
Net result	-119 k €	-149%	-47,8 k €	-2.2%	-46,8 k €	+72.4%	-169,4 k €	-361%	65 k €	+168%	-95,6 k €	-37376%	256,5 €	-93.3%	3,8 k €	-92.1%	48,7 k €	-28.2%	67,9 k €	-49.0%	133,1 k €	+35.9%	98 k €	-22.7%	126,8 k €	+50.1%	84,5 k €	-39.6%	139,9 k €	-9.0%	153,7 k €	+62.4%	94,6 k €	-7.0%	101,8 k €	-29.4%	144,2 k €	+33.8%	107,7 k €
Balance sheet
Equity	484,8 k €	-19.7%	603,8 k €	-7.3%	651,6 k €	-6.7%	698,4 k €	-19.5%	867,7 k €	+8.1%	802,8 k €	-51.3%	1,6 M €	+0.0%	1,6 M €	+0.2%	1,6 M €	+3.1%	1,6 M €	+4.4%	1,5 M €	+9.5%	1,4 M €	+155%	546,5 k €	-56.4%	1,3 M €	+7.2%	1,2 M €	+13.6%	1 M €	+17.6%	875 k €	+12.1%	780,4 k €	+15.0%	678,6 k €	+27.0%	534,5 k €
Total assets	1,4 M €	-4.0%	1,5 M €	-9.1%	1,6 M €	-7.1%	1,8 M €	-8.2%	1,9 M €	+12.5%	1,7 M €	-3.2%	1,8 M €	-3.8%	1,8 M €	+1.2%	1,8 M €	-1.0%	1,8 M €	+0.2%	1,8 M €	+5.9%	1,7 M €	+8.1%	1,6 M €	+2.5%	1,6 M €	-7.2%	1,7 M €	+10.9%	1,5 M €	+13.6%	1,3 M €	+1.1%	1,3 M €	+2.7%	1,3 M €	+13.3%	1,1 M €
Cash	441,9 €	-99.8%	220,3 k €	-49.3%	434,4 k €	+112%	205,2 k €	-56.2%	468,3 k €	-11.3%	528,2 k €	-12.8%	605,4 k €	-5.8%	643 k €	-4.2%	671,1 k €	-2.7%	690 k €	+13.5%	608,1 k €	-4.1%	634,3 k €	+35.0%	470 k €	+8.6%	432,7 k €	-64.3%	1,2 M €	+17.7%	1 M €	+20.5%	854,7 k €	+15.5%	740,1 k €	+51.2%	489,5 k €	-7.5%	529 k €
Debts	940,2 k €	+7.0%	878,8 k €	-10.4%	981,2 k €	-7.6%	1,1 M €	+1.1%	1,1 M €	+16.6%	900,7 k €	+698%	112,9 k €	-37.9%	181,9 k €	+14.0%	159,6 k €	-29.6%	226,7 k €	-22.2%	291,4 k €	-9.9%	323,6 k €	-69.0%	1 M €	+249%	298,7 k €	-35.8%	465,6 k €	-2.7%	478,6 k €	+5.9%	452 k €	-15.0%	531,7 k €	-10.2%	592 k €	-0.4%	594,5 k €
Other
Workforce	5,6 ETP	-3.4%	5,8 ETP	-3.3%	6,0 ETP	-16.7%	7,2 ETP	-2.7%	7,4 ETP	-10.8%	8,3 ETP	-15.3%	9,8 ETP	0.0%	9,8 ETP	+4.3%	9,4 ETP	-4.1%	9,8 ETP	-3.0%	10,1 ETP	+3.1%	9,8 ETP	+6.5%	9,2 ETP	-13.2%	10,6 ETP	+7.1%	9,9 ETP	+2.1%	9,7 ETP	-18.5%	11,9 ETP	+9.2%	10,9 ETP	-28.3%	15,2 ETP	+67.0%	9,1 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 31/12/2025 · 1 active · 3 ended

Active mandates

LUC ALBRECHT

Director · since 25 janvier 1990

Active

Ended mandates

MARTINE VANDENBUSSCHE

Director · since 14 novembre 2006

Ended

MARTINE VANDENBUSSCHE

Manager · since 14 novembre 2006

Ended

LUC ALBRECHT

Mandate · since 25 janvier 1990

Ended

At this address

Other companies at this address

Company	CBE no.
Vereniging van Mede-eigenaars appartementsgebouw te De Panne, gelegen Zeelaan 113● Active	0607.904.245

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	14/08/2026	23/09/2025	24/07/2024	16/08/2023	05/08/2022	14/07/2021
General meeting	13/08/2026	22/09/2025	28/06/2024	31/07/2023	29/07/2022	11/06/2021
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
Abridged model	31/12/2025	13/08/2026	14/08/2026	Dutch	PDF
Abridged model	31/12/2024	22/09/2025	23/09/2025	Dutch	PDF
Abridged model	31/12/2023	28/06/2024	24/07/2024	Dutch	PDF
Abridged model	31/12/2022	31/07/2023	16/08/2023	Dutch	PDF
Abridged model	31/12/2021	29/07/2022	05/08/2022	Dutch	PDF
Abridged model	31/12/2020	11/06/2021	14/07/2021	Dutch	PDF
Abridged model	31/12/2019	31/07/2020	08/08/2020	Dutch	PDF
Abridged model	31/12/2018	14/06/2019	31/07/2019	Dutch	PDF
Abridged model	31/12/2017	08/06/2018	25/07/2018	Dutch	PDF
Abridged model	31/12/2016	09/06/2017	27/07/2017	Dutch	PDF
Abridged model	31/12/2015	10/06/2016	27/07/2016	Dutch	PDF
Abridged model	31/12/2014	12/06/2015	30/07/2015	Dutch	PDF
Abridged model	31/12/2013	13/06/2014	31/07/2014	Dutch	PDF
Abridged model	31/12/2012	14/06/2013	08/08/2013	Dutch	PDF
Abridged model	31/12/2011	08/06/2012	14/08/2012	Dutch	PDF
Abridged model	31/12/2010	10/06/2011	12/08/2011	Dutch	PDF
Abridged model	31/12/2009	11/06/2010	18/08/2010	Dutch	PDF
Abridged model	31/12/2008	12/06/2009	29/07/2009	Dutch	PDF
Abridged model	31/12/2007	13/06/2008	07/08/2008	Dutch	PDF
Abridged model	31/12/2006	08/06/2007	13/08/2007	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 31/12/2025 · 1 active · 3 ended

Active mandates

LUC ALBRECHT

Director · since 25 janvier 1990

Active

Ended mandates

MARTINE VANDENBUSSCHE

Director · since 14 novembre 2006

Ended

MARTINE VANDENBUSSCHE

Manager · since 14 novembre 2006

Ended

LUC ALBRECHT

Mandate · since 25 janvier 1990

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/09/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Capital / shares16/04/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office12/03/2010
MAATSCHAPPELIJKE ZETEL
PDF
Mandates27/11/2006
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 2025-119 k €↓
2024
Annual accounts 2024-47,8 k €↓
2023
Annual accounts 2023-46,8 k €↑
2022
Annual accounts 2022-169,4 k €↓
2021
Annual accounts 202165 k €↑
2020
Annual accounts 2020-95,6 k €↓
2019
Annual accounts 2019256,5 €↓
2018
Annual accounts 20183,8 k €↓
2017
Annual accounts 201748,7 k €↓
2016
Annual accounts 201667,9 k €↓
2015
Annual accounts 2015133,1 k €↑
2014
Annual accounts 201498 k €↓
2013
Annual accounts 2013126,8 k €↑
2012
Annual accounts 201284,5 k €↓
2011
Annual accounts 2011139,9 k €↓
2010
Annual accounts 2010153,7 k €↑
2009
Annual accounts 200994,6 k €↓
2008
Annual accounts 2008101,8 k €↓
2007
Annual accounts 2007144,2 k €↑
2006
Annual accounts 2006107,7 k €
25/01/1990
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

MORRISON

Overview

What does MORRISON do?

Trend over 20 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