ACTIVE

MANAGEMENT ASSOCIATES INTERNATIONAL

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Financial year 2025 · Closed on 31/12/2025

Net result-55,7 k €-172,3 %over 1 year
Gross margin-21,4 k €-13,9 %over 1 year
Equity194,6 k €-22,3 %over 1 year
Workforce0,0 ETP

Identity

Source · BCE/KBO

MANAGEMENT ASSOCIATES INTERNATIONAL is a Public limited company incorporated in 1990. Its main activity is: Agents specialised in the sale of other particular products. Its registered office is in Chaudfontaine.

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0442.665.042
Incorporation
20/12/1990
Legal form
Public limited company
Registered office
Rue des Chèvrefeuilles 16
4052 Chaudfontaine · WallonieSee on map
Contributed capital
62 000,00 €
Latest accounts
31/12/2025
Average workforce
0,0 ETP
Joint committees (1)
  • 201
Signals
Solid equityLow riskGood liquidity

Financials

Source · NBB, 20 filings

Trend over 20 financial years

20252024202320222021
Income statement
Gross margin-21,4 k €-18,8 k €187 k €4,8 k €88,9 k €
EBITDA-57,6 k €-19,9 k €185,5 k €-18,4 k €58,1 k €
Operating result-58,4 k €-20,5 k €184,4 k €-44,9 k €30,3 k €
Net result-55,7 k €-20,5 k €153 k €-29,6 k €40,3 k €
Balance sheet
Equity194,6 k €250,3 k €270,7 k €117,7 k €647,4 k €
Total assets208,6 k €278,1 k €496,9 k €930,8 k €1,5 M €
Cash93,1 k €148,5 k €249,2 k €242,1 k €386,6 k €
Debts13,8 k €27,8 k €226,2 k €813,1 k €812 k €
Other
Workforce0,0 ETP––0,7 ETP0,9 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 7 ended

Active mandates

ALPHAR HEUSY

Managing director · since 08 mai 2020 · until 08 mai 2026 · 0478.219.304

Represented by Jean-Luc MURI

Active
Karin VAN LINTHOUT

Director · since 08 mai 2020 · until 08 mai 2026

Active

Ended mandates

ALPHAR HEUSY

Managing director · since 22 mai 2015 · until 21 mai 2021 · 0478.219.304

Represented by Jean-Luc MURI

Ended
Karin VAN LINTHOUT

Director · since 22 mai 2015 · until 21 mai 2021

Ended
LIOR AZUELOS

Managing director · since 01 juillet 2014 · until 30 juin 2020

Ended
IGAAL EMMANUEL AZUELOS

Managing director · since 01 juin 2011

Ended

Other companies at this address

Rue des Chèvrefeuilles 16 4052 Chaudfontaine
CompanyCBE no.
ALPHAR HEUSY● Active
0478.219.304
Compagnie Commerciale de Distribution Africaine● Active
0506.668.711

Full financial information

Source · NBB
202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date17/03/202629/04/202518/03/202416/05/202327/05/202222/06/2021
General meeting17/03/202614/04/202514/03/202416/05/202315/04/202201/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings
ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202517/03/202617/03/2026FrenchPDF
Abridged model31/12/202414/04/202529/04/2025FrenchPDF
Abridged model31/12/202314/03/202418/03/2024FrenchPDF
Abridged model31/12/202216/05/202316/05/2023FrenchPDF
Abridged model31/12/202115/04/202227/05/2022FrenchPDF
Abridged model31/12/202001/06/202122/06/2021FrenchPDF
Abridged model31/12/201901/06/202007/08/2020FrenchPDF
Abridged model31/12/201801/06/201924/07/2019FrenchPDF
Abridged model31/12/201730/06/201824/08/2018FrenchPDF
Abridged model31/12/201630/06/201725/08/2017FrenchPDF
Abridged model31/12/201530/06/201616/08/2016FrenchPDF
Abridged model31/12/201419/05/201529/07/2015FrenchPDF
Abridged model31/12/201326/09/201405/12/2014FrenchPDF
Abridged model31/12/201201/06/201305/12/2014FrenchPDF
Abridged model31/12/201101/06/201227/09/2012FrenchPDF
Abridged model31/12/201001/06/201102/11/2011FrenchPDF
Abridged model31/12/200901/06/201029/07/2010FrenchPDF
Abridged model31/12/200801/06/200902/06/2009FrenchPDF
Abridged model31/12/200702/06/200816/07/2008FrenchPDF
Abridged model31/12/200601/06/200704/07/2007FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 7 ended

Active mandates

ALPHAR HEUSY

Managing director · since 08 mai 2020 · until 08 mai 2026 · 0478.219.304

Represented by Jean-Luc MURI

Active
Karin VAN LINTHOUT

Director · since 08 mai 2020 · until 08 mai 2026

Active

Ended mandates

ALPHAR HEUSY

Managing director · since 22 mai 2015 · until 21 mai 2021 · 0478.219.304

Represented by Jean-Luc MURI

Ended
Karin VAN LINTHOUT

Director · since 22 mai 2015 · until 21 mai 2021

Ended
LIOR AZUELOS

Managing director · since 01 juillet 2014 · until 30 juin 2020

Ended
IGAAL EMMANUEL AZUELOS

Managing director · since 01 juin 2011

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates28/05/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Registered office01/08/2025
    SIEGE SOCIAL
    PDF
  • Mandates28/05/2020
    DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - DIVERS
    PDF
  • Registered office28/12/2015
    SIEGE SOCIAL
    PDF
  • Mandates07/10/2015
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates05/06/2015
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates02/09/2014
    DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates18/08/2014
    DEMISSIONS, NOMINATIONS
    PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025-55,7 k €↓
  2. 2024
    Annual accounts 2024-20,5 k €↓
  3. 2023
    Annual accounts 2023153 k €↑
  4. 2022
    Annual accounts 2022-29,6 k €↓
  5. 2021
    Annual accounts 202140,3 k €↓
  6. 2020
    Annual accounts 2020112,5 k €↑
  7. 2019
    Annual accounts 201922,4 k €↑
  8. 2018
    Annual accounts 20187,4 k €↓
  9. 2017
    Annual accounts 201726,4 k €↓
  10. 2016
    Annual accounts 201645,7 k €↑
  11. 2015
    Annual accounts 2015-2,4 k €↓
  12. 2014
    Annual accounts 2014535,1 k €↑
  13. 2013
    Annual accounts 2013380,2 k €↑
  14. 2012
    Annual accounts 2012218,9 k €↓
  15. 2011
    Annual accounts 2011403 k €↑
  16. 2010
    Annual accounts 2010151,8 k €↓
  17. 2009
    Annual accounts 2009381,1 k €↑
  18. 2008
    Annual accounts 200872,5 k €↑
  19. 2007
    Annual accounts 2007-10,8 k €↓
  20. 2006
    Annual accounts 200649,7 k €
  21. 20/12/1990
    IncorporationPublic limited company