ACTIVE

ESPINA

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Financial year 2025 · closed on 30/06/2025

Net result

18 k €

-47.3% YoY

Gross margin

56,3 k €

-32.5% YoY

Equity

499,2 k €

+3.7% YoY

What does ESPINA do?

ESPINA is a Public limited company incorporated in 1990. Its main activity is: Buying and selling of own real estate. Its registered office is in Geel.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0442.820.143

Incorporation

18/12/1990

Legal form

Public limited company

Registered office

Molseweg 76
2440 Geel · FlandreSee on map

Contributed capital

74 368,06 €

Latest accounts

30/06/2025

Activities (NACE)

68100Buying and selling of own real estate· main 68110Buying and selling of own real estate 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	56,3 k €	-32.5%	83,4 k €	+17.2%	71,1 k €	-14.3%	83 k €	-18.7%	102 k €	+18.6%	86 k €	-12.0%	97,7 k €	+4.3%	93,6 k €	+0.9%	92,8 k €	+2.3%	90,7 k €	+17.5%	77,1 k €	-11.7%	87,4 k €	-14.4%	102,1 k €	+2.2%	99,9 k €	-2.5%	102,5 k €	+9.2%	93,9 k €	-4.5%	98,3 k €	-0.3%	98,7 k €
EBITDA	44,9 k €	-41.9%	77,3 k €	+18.0%	65,5 k €	-7.7%	71 k €	-21.7%	90,6 k €	+17.9%	76,9 k €	-17.1%	92,8 k €	+6.4%	87,2 k €	+1.7%	85,8 k €	+1.8%	84,2 k €	+16.0%	72,6 k €	-15.9%	86,4 k €	-10.6%	96,6 k €	+2.1%	94,7 k €	-2.7%	97,3 k €	+9.2%	89 k €	-4.5%	93,2 k €	-0.4%	93,7 k €
Operating result	20,1 k €	-55.5%	45,2 k €	+47.6%	30,6 k €	-15.1%	36 k €	-36.1%	56,4 k €	+30.1%	43,4 k €	-26.8%	59,2 k €	+10.4%	53,7 k €	+1.5%	52,9 k €	+23.8%	42,7 k €	+43.9%	29,7 k €	-31.9%	43,6 k €	-19.2%	54 k €	+1.4%	53,3 k €	-0.6%	53,6 k €	+28.6%	41,7 k €	-9.2%	45,9 k €	-0.9%	46,3 k €
Net result	18 k €	-47.3%	34,1 k €	+45.4%	23,4 k €	-9.4%	25,9 k €	-35.5%	40,1 k €	+48.3%	27,1 k €	-28.3%	37,7 k €	+20.6%	31,3 k €	+3.0%	30,4 k €	+44.4%	21 k €	+101%	10,4 k €	-34.0%	15,8 k €	-28.4%	22,1 k €	+35.5%	16,3 k €	+9.4%	14,9 k €	+105%	7,3 k €	-39.1%	11,9 k €	-14.2%	13,9 k €
Balance sheet
Equity	499,2 k €	+3.7%	481,3 k €	+7.6%	447,2 k €	+5.5%	423,7 k €	+6.3%	398,6 k €	+10.9%	359,3 k €	+7.9%	333,1 k €	+12.8%	295,3 k €	+11.8%	264,1 k €	+13.0%	233,7 k €	+9.9%	212,7 k €	+5.2%	202,2 k €	+8.5%	186,4 k €	+13.4%	164,3 k €	+11.0%	148 k €	+11.2%	133,1 k €	+5.8%	125,8 k €	+10.5%	113,9 k €
Total assets	676,6 k €	+0.8%	671,5 k €	+3.6%	648,2 k €	+1.9%	636,3 k €	+7.0%	594,9 k €	+1.8%	584,5 k €	+1.3%	576,7 k €	-3.5%	597,4 k €	-2.9%	615,5 k €	-5.4%	650,7 k €	-2.4%	666,8 k €	-4.7%	699,5 k €	-5.0%	736,6 k €	-2.2%	752,9 k €	-4.9%	791,4 k €	-5.1%	834,2 k €	-5.5%	882,3 k €	-4.6%	924,4 k €
Cash	52,8 k €	-29.6%	74,9 k €	+262%	20,7 k €	+25.5%	16,5 k €	-42.1%	28,5 k €	-7.0%	30,6 k €	-3.7%	31,8 k €	+67.9%	18,9 k €	+92.9%	9,8 k €	-63.5%	26,9 k €	+154%	10,6 k €	+203%	3,5 k €	+283%	910 €	-27.8%	1,3 k €	+40.4%	898 €	-59.4%	2,2 k €	+44.3%	1,5 k €	-9.0%	1,7 k €
Debts	177,3 k €	-6.8%	190,2 k €	-5.4%	201 k €	-5.4%	212,6 k €	+8.3%	196,3 k €	-12.8%	225,2 k €	-7.6%	243,7 k €	-19.3%	302 k €	-14.0%	351,4 k €	-15.7%	417 k €	-8.2%	454,2 k €	-8.7%	497,3 k €	-9.6%	550,3 k €	-6.5%	588,6 k €	-8.5%	643,5 k €	-7.6%	696,6 k €	-7.9%	756,1 k €	-6.7%	810,1 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 1 active · 16 ended

Active mandates

Albert Paul Schouwenaars

Director

Active

Ended mandates

Bruno Schouwenaars

Managing director · since 19 décembre 2017 · until 19 décembre 2023

Ended

Ellen Vercammen

Mandate · since 15 décembre 2014

Ended

Ellen Vercammen

Director · since 15 décembre 2014 · until 30 juin 2017

Ended

Albert Schouwenaars

Director · since 31 décembre 2011 · until 30 juin 2017

Ended

At this address

Other companies at this address

Company	CBE no.
Medexbert● Active	0824.686.674

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Abridged model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	30/01/2026	31/01/2025	26/01/2024	18/01/2023	21/12/2021	16/12/2020
General meeting	31/12/2025	30/12/2024	30/12/2023	21/12/2022	15/12/2021	15/12/2020
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/06/2025	31/12/2025	30/01/2026	Dutch	PDF
Abridged model	30/06/2024	30/12/2024	31/01/2025	Dutch	PDF
Micro model	30/06/2023	30/12/2023	26/01/2024	Dutch	PDF
Micro model	30/06/2022	21/12/2022	18/01/2023	Dutch	PDF
Micro model	30/06/2021	15/12/2021	21/12/2021	Dutch	PDF
Micro model	30/06/2020	15/12/2020	16/12/2020	Dutch	PDF
Micro model	30/06/2019	16/12/2019	08/01/2020	Dutch	PDF
Micro model	30/06/2018	26/11/2018	20/12/2018	Dutch	PDF
Micro model	30/06/2017	18/12/2017	10/01/2018	Dutch	PDF
Abridged model	30/06/2016	31/12/2016	26/01/2017	Dutch	PDF
Abridged model	30/06/2015	15/12/2015	29/01/2016	Dutch	PDF
Abridged model	30/06/2014	15/12/2014	31/12/2014	Dutch	PDF
Abridged model	30/06/2013	20/12/2013	31/12/2013	Dutch	PDF
Abridged model	30/06/2012	19/11/2012	19/12/2012	Dutch	PDF
Abridged model	30/06/2011	21/11/2011	29/12/2011	Dutch	PDF
Abridged model	30/06/2010	15/11/2010	10/01/2011	Dutch	PDF
Abridged model	30/06/2009	16/11/2009	09/12/2009	Dutch	PDF
Abridged model	30/06/2008	12/11/2008	19/12/2008	Dutch	PDF
Abridged model	30/06/2007	19/11/2007	22/01/2008	Dutch	PDF
Abridged model	30/06/2006	20/11/2006	02/01/2007	Dutch	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 30/06/2025 · 1 active · 16 ended

Active mandates

Albert Paul Schouwenaars

Director

Active

Ended mandates

Bruno Schouwenaars

Managing director · since 19 décembre 2017 · until 19 décembre 2023

Ended

Ellen Vercammen

Mandate · since 15 décembre 2014

Ended

Ellen Vercammen

Director · since 15 décembre 2014 · until 30 juin 2017

Ended

Albert Schouwenaars

Director · since 31 décembre 2011 · until 30 juin 2017

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/03/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/02/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/06/2012
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/02/2012
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/12/2005
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates13/01/2004
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 202518 k €↓
2024
Annual accounts 202434,1 k €↑
2023
Annual accounts 202323,4 k €↓
2022
Annual accounts 202225,9 k €↓
2021
Annual accounts 202140,1 k €↑
2020
Annual accounts 202027,1 k €↓
2019
Annual accounts 201937,7 k €↑
2018
Annual accounts 201831,3 k €↑
2017
Annual accounts 201730,4 k €↑
2016
Annual accounts 201621 k €↑
2015
Annual accounts 201510,4 k €↓
2014
Annual accounts 201415,8 k €↓
2013
Annual accounts 201322,1 k €↑
2012
Annual accounts 201216,3 k €↑
2011
Annual accounts 201114,9 k €↑
2010
Annual accounts 20107,3 k €↓
2009
Annual accounts 200911,9 k €↓
2008
Annual accounts 200813,9 k €
18/12/1990
IncorporationPublic 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

ESPINA

Overview

What does ESPINA do?

Trend over 18 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