ACTIVE

BALAES

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Financial year 2025 · closed on 31/12/2025

Net result

70,5 k €

+2.0% YoY

Gross margin

100,6 k €

+2.5% YoY

Equity

803,1 k €

+9.6% YoY

What does BALAES do?

BALAES is a Private limited company incorporated in 1990. Its registered office is in Oreye.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0442.368.104

Incorporation

13/11/1990

Legal form

Private limited company

Registered office

Rue de la Westrée 40
4360 Oreye · WallonieSee on map

Contributed capital

6 197,33 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	100,6 k €	+2.5%	98,1 k €	-8.4%	107,1 k €	-4.5%	112,1 k €	+17.6%	95,3 k €	+35.1%	70,5 k €	-21.3%	89,7 k €	+32.5%	67,7 k €	-20.8%	85,5 k €	-56.3%	195,7 k €	+48.2%	132,1 k €	+25.8%	105 k €	-52.7%	222,2 k €	+167%	83,2 k €	+62.8%	51,1 k €	-8.5%	55,9 k €	+25.7%	44,4 k €	-25.7%	59,8 k €	-37.6%	95,7 k €	+29.1%	74,1 k €
EBITDA	98,5 k €	+2.5%	96,1 k €	+0.7%	95,5 k €	-5.0%	100,5 k €	+19.1%	84,3 k €	+40.8%	59,9 k €	-24.4%	79,2 k €	+43.9%	55 k €	-28.8%	77,3 k €	-56.5%	177,5 k €	+90.5%	93,2 k €	+41.7%	65,7 k €	-64.2%	183,7 k €	+294%	46,6 k €	+158%	18,1 k €	-18.1%	22,1 k €	+30.3%	16,9 k €	-45.0%	30,8 k €	-54.9%	68,3 k €	+46.0%	46,8 k €
Operating result	98,4 k €	+2.4%	96 k €	+0.6%	95,5 k €	-5.0%	100,5 k €	+19.1%	84,3 k €	+41.5%	59,6 k €	-24.5%	78,9 k €	+47.9%	53,4 k €	-26.3%	72,5 k €	-58.0%	172,6 k €	+112%	81,3 k €	+50.0%	54,2 k €	-68.4%	171,7 k €	+299%	43 k €	+204%	14,1 k €	-23.6%	18,5 k €	+17.8%	15,7 k €	-42.1%	27,1 k €	-58.2%	64,9 k €	+46.8%	44,2 k €
Net result	70,5 k €	+2.0%	69,1 k €	+1.3%	68,2 k €	-4.2%	71,2 k €	+21.1%	58,8 k €	+42.7%	41,2 k €	-21.5%	52,5 k €	+52.7%	34,4 k €	-21.5%	43,8 k €	-61.9%	114,9 k €	+132%	49,4 k €	+50.9%	32,8 k €	-71.2%	113,6 k €	+286%	29,5 k €	+2102%	1,3 k €	-79.1%	6,4 k €	-4.0%	6,7 k €	-20.1%	8,4 k €	-79.3%	40,4 k €	+32.4%	30,5 k €
Balance sheet
Equity	803,1 k €	+9.6%	732,6 k €	+10.4%	663,5 k €	+11.5%	595,3 k €	+13.6%	524,1 k €	+12.6%	465,3 k €	-8.0%	505,9 k €	+11.6%	453,4 k €	+8.2%	419 k €	+11.7%	375,3 k €	+44.1%	260,4 k €	+23.4%	211 k €	+18.4%	178,2 k €	+176%	64,6 k €	+83.9%	35,1 k €	+4.0%	33,8 k €	+23.5%	27,4 k €	+32.3%	20,7 k €	+67.9%	12,3 k €	-93.4%	186,9 k €
Total assets	812 k €	+9.2%	743,4 k €	+10.2%	674,8 k €	+6.6%	632,9 k €	+15.1%	549,9 k €	-5.9%	584,5 k €	+7.9%	541,6 k €	+12.5%	481,6 k €	-3.0%	496,5 k €	+12.2%	442,5 k €	+39.4%	317,5 k €	+7.9%	294,2 k €	+7.5%	273,7 k €	+188%	94,9 k €	+51.8%	62,5 k €	-33.0%	93,3 k €	+9.1%	85,5 k €	+11.4%	76,7 k €	+0.7%	76,2 k €	-61.8%	199,5 k €
Cash	54 k €	+20.7%	44,7 k €	+14.5%	39 k €	-13.7%	45,2 k €	+198%	15,2 k €	+133%	6,5 k €	-55.6%	14,7 k €	-18.1%	17,9 k €	+159%	6,9 k €	-83.9%	42,8 k €	-7.3%	46,2 k €	+46.6%	31,5 k €	+88.9%	16,7 k €	+11.1%	15 k €		–		7,4 k €	+6.9%	6,9 k €	+387%	1,4 k €	-94.5%	25,6 k €		–
Debts	8,9 k €	-17.4%	10,8 k €	-4.5%	11,3 k €	-70.0%	37,6 k €	+45.6%	25,8 k €	-78.3%	119,2 k €	+233%	35,8 k €	+27.0%	28,2 k €	-63.7%	77,5 k €	+15.3%	67,2 k €	+17.7%	57,1 k €	-31.4%	83,3 k €	-12.8%	95,4 k €	+215%	30,3 k €	+10.7%	27,4 k €	-53.9%	59,5 k €	+3.6%	57,4 k €	+2.5%	56,1 k €	-12.2%	63,8 k €	+407%	12,6 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		1,3 ETP	0.0%	1,3 ETP	0.0%	1,3 ETP	0.0%	1,3 ETP	0.0%	1,3 ETP	+30.0%	1,0 ETP	-23.1%	1,3 ETP	0.0%	1,3 ETP		–		1,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 1 ended

Active mandates

FRANCIS BALAES

Director

Active

Ended mandates

FRANCIS BALAES

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	25/06/2026	05/06/2025	21/06/2024	03/07/2023	25/07/2022	05/10/2021
General meeting	20/05/2026	01/06/2025	21/06/2024	21/06/2023	30/06/2022	01/10/2021
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
Micro model	31/12/2025	20/05/2026	25/06/2026	French	PDF
Micro model	31/12/2024	01/06/2025	05/06/2025	French	PDF
Micro model	31/12/2023	21/06/2024	21/06/2024	French	PDF
Micro model	31/12/2022	21/06/2023	03/07/2023	French	PDF
Micro model	31/12/2021	30/06/2022	25/07/2022	French	PDF
Micro model	31/12/2020	01/10/2021	05/10/2021	French	PDF
Micro model	31/12/2019	01/07/2020	26/08/2020	French	PDF
Micro model	31/12/2018	02/08/2019	08/08/2019	French	PDF
Micro model	31/12/2017	02/11/2018	05/11/2018	French	PDF
Micro model	31/12/2016	29/08/2017	25/10/2017	French	PDF
Abridged model	31/12/2015	30/08/2016	31/08/2016	French	PDF
Abridged model	31/12/2014	26/08/2015	27/08/2015	French	PDF
Abridged model	31/12/2013	27/08/2014	28/08/2014	French	PDF
Abridged model	31/12/2012	26/08/2013	30/08/2013	French	PDF
Abridged model	31/12/2011	21/05/2012	31/05/2012	French	PDF
Abridged model	31/12/2010	24/05/2011	19/08/2011	French	PDF
Abridged model	31/12/2009	25/05/2010	25/08/2010	French	PDF
Abridged model	31/12/2008	26/05/2009	19/08/2009	French	PDF
Abridged model	31/12/2007	27/05/2008	30/08/2008	French	PDF
Abridged model	31/12/2006	22/05/2007	31/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 31/12/2025 · 1 active · 1 ended

Active mandates

FRANCIS BALAES

Director

Active

Ended mandates

FRANCIS BALAES

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates26/06/2023
MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
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 202570,5 k €↑
2024
Annual accounts 202469,1 k €↑
2023
Annual accounts 202368,2 k €↓
2022
Annual accounts 202271,2 k €↑
2021
Annual accounts 202158,8 k €↑
2020
Annual accounts 202041,2 k €↓
2019
Annual accounts 201952,5 k €↑
2018
Annual accounts 201834,4 k €↓
2017
Annual accounts 201743,8 k €↓
2016
Annual accounts 2016114,9 k €↑
2015
Annual accounts 201549,4 k €↑
2014
Annual accounts 201432,8 k €↓
2013
Annual accounts 2013113,6 k €↑
2012
Annual accounts 201229,5 k €↑
2011
Annual accounts 20111,3 k €↓
2010
Annual accounts 20106,4 k €↓
2009
Annual accounts 20096,7 k €↓
2008
Annual accounts 20088,4 k €↓
2007
Annual accounts 200740,4 k €↑
2006
Annual accounts 200630,5 k €
13/11/1990
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

BALAES

Overview

What does BALAES do?

Trend over 20 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