ACTIVE

F. NOIRFALISE ET FILS

Export PDF

Financial year 2025 · closed on 30/09/2025

Net result

-47,1 k €

-116.4% YoY

Gross margin

1,2 M €

-16.0% YoY

Equity

320 k €

-12.8% YoY

What does F. NOIRFALISE ET FILS do?

F. NOIRFALISE ET FILS is a Private company with limited liability incorporated in 1990. Its registered office is in Verviers.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0440.497.586

Incorporation

28/03/1990

Legal form

Private company with limited liability

Registered office

Rue de Limbourg 198 box Z
4800 Verviers · WallonieSee on map

Contributed capital

151 215,05 €

Latest accounts

30/09/2025

Joint committees (4)

14201
200
2000
218

Signals

Good liquidityPositive 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

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	1,2 M €	-16.0%	1,4 M €	+14.9%	1,2 M €	-34.2%	1,9 M €	+33.0%	1,4 M €	+10.2%	1,3 M €	-8.9%	1,4 M €		–		–		–		–		–		1,7 M €	+7.0%	1,6 M €	-20.5%	2 M €	+16.8%	1,7 M €	-17.3%	2,1 M €
EBITDA	312 k €	-44.4%	560,6 k €	+36.8%	409,7 k €	-62.1%	1,1 M €	+45.0%	745 k €	+109%	357,1 k €	-35.9%	557 k €	+55.2%	358,8 k €	-22.5%	463 k €	-16.4%	553,8 k €	+1.9%	543,7 k €	-35.2%	839,6 k €	-14.7%	984,5 k €	+6.8%	922,1 k €	-32.2%	1,4 M €	+14.6%	1,2 M €	-22.0%	1,5 M €
Operating result	30,3 k €	-93.9%	495,1 k €	+793%	-71,5 k €	-108%	904,3 k €	+83.5%	492,8 k €	+171%	-694,2 k €	-460%	192,7 k €	+1372%	-15,1 k €	-115%	102,7 k €	-65.1%	294,4 k €	+72.0%	171,2 k €	-25.4%	229,5 k €	+1.2%	226,8 k €	+222%	70,5 k €	-28.4%	98,4 k €	-73.9%	377 k €	-64.2%	1,1 M €
Net result	-47,1 k €	-116%	287,2 k €	+494%	-72,9 k €	-109%	844 k €	+116%	390,3 k €	+153%	-740,8 k €	-759%	112,4 k €	+3470%	3,1 k €	-91.1%	35,4 k €	-72.3%	127,9 k €	+26.0%	101,5 k €	+9.9%	92,4 k €	-59.6%	228,9 k €	-12.7%	262,3 k €	+577%	-55 k €	-116%	343,8 k €	-46.1%	638,3 k €
Balance sheet
Equity	320 k €	-12.8%	367 k €	+360%	79,8 k €	-47.7%	152,8 k €	+122%	-691,2 k €	-10631%	-6,4 k €	-101%	742,6 k €	+16.3%	638,6 k €	-1.6%	649,3 k €	+2.8%	631,6 k €	+20.6%	523,6 k €	+11.1%	471,3 k €	+35.8%	347 k €	+0.6%	345,1 k €	+18.1%	292,3 k €	-44.2%	523,5 k €	+24.2%	421,6 k €
Total assets	3 M €	+5.3%	2,8 M €	+19.4%	2,4 M €	-14.4%	2,8 M €	-8.3%	3 M €	-42.1%	5,2 M €	+15.7%	4,5 M €	+19.4%	3,8 M €	-11.8%	4,3 M €	+3.4%	4,1 M €	+20.1%	3,4 M €	+4.0%	3,3 M €	-13.8%	3,8 M €	-18.4%	4,7 M €	-5.2%	5 M €	-12.8%	5,7 M €	+84.9%	3,1 M €
Cash	121,5 k €	-40.6%	204,7 k €	+3.2%	198,3 k €	-2.4%	203,2 k €	+44.1%	141 k €	+167%	52,8 k €	-33.0%	78,8 k €	+28.1%	61,5 k €	+24.5%	49,4 k €	-69.7%	163,1 k €	+332%	37,8 k €	-64.6%	106,7 k €	+72.1%	62 k €	-65.9%	181,6 k €	+25.4%	144,8 k €	-64.4%	406,6 k €	-5.3%	429,3 k €
Debts	2 M €	-1.3%	2,1 M €	+7.6%	1,9 M €	-21.6%	2,4 M €	-31.2%	3,5 M €	-31.4%	5,2 M €	+37.2%	3,8 M €	+20.5%	3,1 M €	-13.9%	3,6 M €	+3.6%	3,5 M €	+20.0%	2,9 M €	+3.7%	2,8 M €	-18.3%	3,4 M €	-20.6%	4,3 M €	-6.7%	4,6 M €	-7.3%	5 M €	+104%	2,4 M €
Other
Workforce	–		11,5 ETP	-1.7%	11,7 ETP	-3.3%	12,1 ETP	-9.0%	13,3 ETP	-5.0%	14,0 ETP	-0.7%	14,1 ETP	+0.7%	14,0 ETP	+1.4%	13,8 ETP	-8.0%	15,0 ETP	-1.3%	15,2 ETP	0.0%	15,2 ETP	+7.0%	14,2 ETP	+4.4%	13,6 ETP	+7.1%	12,7 ETP	+6.7%	11,9 ETP	+4.4%	11,4 ETP

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 · 11 ended

Active mandates

Christian ZANDONA

Director · since 02 février 2026

Active

Ended mandates

SEOS

Director · since 30 septembre 2017 · 0432.257.734

Represented by Christian ZANDONA

Ended

SEOS

Manager · since 30 septembre 2017 · 0432.257.734

Represented by CHRISTIAN ZANDONA

Ended

SEOS

Manager · since 28 mars 2014 · until 28 mars 2020 · 0432.257.734

Represented by STEPHANE DIEZ RABAGO

Ended

SEOS

Manager · since 28 mars 2014 · 0432.257.734

Represented by STEPHANE DIEZ RABAGO

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	30/04/2026	29/04/2025	03/05/2024	26/04/2023	29/04/2022	05/07/2021
General meeting	28/04/2026	25/04/2025	24/04/2024	24/04/2023	31/03/2022	02/07/2021
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

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
Micro model	30/09/2025	28/04/2026	30/04/2026	French	PDF
Abridged model	30/09/2024	25/04/2025	29/04/2025	French	PDF
Abridged model	30/09/2023	24/04/2024	03/05/2024	French	PDF
Abridged model	30/09/2022	24/04/2023	26/04/2023	French	PDF
Abridged model	30/09/2021	31/03/2022	29/04/2022	French	PDF
Abridged model	30/09/2020	02/07/2021	05/07/2021	French	PDF
Abridged model	30/09/2019	10/06/2020	07/07/2020	French	PDF
Abridged model	30/09/2018	29/04/2019	08/05/2019	French	PDF
Abridged model	30/09/2017	23/03/2018	23/04/2018	French	PDF
Full model	30/09/2016	14/03/2017	07/04/2017	French	PDF
Full model	30/09/2015	31/03/2016	29/04/2016	French	PDF
Full model	30/09/2014	05/03/2015	03/04/2015	French	PDF
Full model	30/09/2013	28/03/2014	23/04/2014	French	PDF
Full model	30/09/2012	07/03/2013	26/03/2013	French	PDF
Abridged model	30/09/2011	01/03/2012	29/03/2012	French	PDF
Abridged model	30/09/2010	01/03/2011	06/04/2011	French	PDF
Abridged model	30/09/2009	31/03/2010	27/04/2010	French	PDF
Abridged model	30/06/2008	19/12/2008	29/01/2009	French	PDF
Abridged model	30/06/2007	14/12/2007	14/01/2008	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 · 11 ended

Active mandates

Christian ZANDONA

Director · since 02 février 2026

Active

Ended mandates

SEOS

Director · since 30 septembre 2017 · 0432.257.734

Represented by Christian ZANDONA

Ended

SEOS

Manager · since 30 septembre 2017 · 0432.257.734

Represented by CHRISTIAN ZANDONA

Ended

SEOS

Manager · since 28 mars 2014 · until 28 mars 2020 · 0432.257.734

Represented by STEPHANE DIEZ RABAGO

Ended

SEOS

Manager · since 28 mars 2014 · 0432.257.734

Represented by STEPHANE DIEZ RABAGO

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/02/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates19/09/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates04/09/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates05/04/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates30/03/2015
DEMISSIONS, NOMINATIONS
PDF
Mandates24/02/2015
DEMISSIONS, NOMINATIONS
PDF
Mandates21/05/2014
DEMISSIONS, NOMINATIONS
PDF
Capital / shares08/05/2013
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 2025-47,1 k €↓
2025
Name changeNOIRFALISE
2024
Annual accounts 2024287,2 k €↑
2023
Annual accounts 2023-72,9 k €↓
2022
Annual accounts 2022844 k €↑
2021
Annual accounts 2021390,3 k €↑
2021
Name changeETS NOIRFALISE ET FILS
2018
Annual accounts 2018-740,8 k €↓
2017
Annual accounts 2017112,4 k €↑
2016
Annual accounts 20163,1 k €↓
2015
Annual accounts 201535,4 k €↓
2014
Annual accounts 2014127,9 k €↑
2013
Annual accounts 2013101,5 k €↑
2012
Annual accounts 201292,4 k €↓
2011
Annual accounts 2011228,9 k €↓
2010
Annual accounts 2010262,3 k €↑
2009
Annual accounts 2009-55 k €↓
2008
Annual accounts 2008343,8 k €↓
2007
Annual accounts 2007638,3 k €
28/03/1990
IncorporationPrivate company with limited liability

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

F. NOIRFALISE ET FILS

Overview

What does F. NOIRFALISE ET FILS 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