ACTIVE

EUREC

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Financial year 2025 · closed on 31/12/2025
Net result
83,6 k €
+37.1% YoY
Gross margin
699,3 k €
+13.9% YoY

What does EUREC do?

EUREC is a European economic assoc with registered seat in Belgium incorporated in 1991. Its main activity is: Research and experimental development on natural sciences and engineering. Its registered office is in Ixelles.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0445.100.930
Incorporation
11/09/1991
Legal form
European economic assoc with registered seat in Belgium
Registered office
Place du Champ de Mars 2
1050 Ixelles · BruxellesSee on map
Latest accounts
31/12/2025
Activities (NACE)
72109Research and experimental development on natural sciences and engineering· main72190Other research and experimental development on natural sciences and engineering73100Advertising
Joint committees (2)
  • 200
  • 335
Signals
ProfitablePositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 19 financial years

2025202420232022202120202019201820172016201520142013201220112010200920082007
Income statement
Gross margin699,3 k €614 k €574,7 k €539,9 k €560,7 k €475,1 k €510,2 k €399,8 k €402,5 k €369,1 k €340,9 k €318,9 k €297,3 k €303 k €259,7 k €252,5 k €241,7 k €188,6 k €266,6 k €
EBITDA76 k €60,8 k €39,1 k €50,7 k €99,5 k €91,8 k €96,3 k €39,8 k €81,6 k €46,7 k €15,7 k €19,1 k €1,5 k €7,6 k €-5,9 k €20 k €24 k €15,9 k €89,4 k €
Operating result75,5 k €60,6 k €36,9 k €45,9 k €87,8 k €66,1 k €88,2 k €38,3 k €80,4 k €44,7 k €14,4 k €17,4 k €-228 €4,2 k €-16,5 k €10,3 k €21,7 k €11,6 k €83,8 k €
Net result83,6 k €61 k €36,1 k €44,1 k €86 k €64,8 k €87,2 k €37,7 k €79,4 k €43,9 k €13,6 k €7,5 k €5,8 k €4,4 k €13,4 k €11,3 k €21,4 k €5,2 k €91,3 k €
Balance sheet
Total assets2,6 M €2,1 M €1,8 M €2,1 M €2,1 M €2,4 M €2,2 M €2 M €1,6 M €1,6 M €1,9 M €1,6 M €1,5 M €1,5 M €1,1 M €1,1 M €1 M €1 M €1,1 M €
Cash44,4 k €129,7 k €292,9 k €1,3 M €997,9 k €1,3 M €1,1 M €1,3 M €742,8 k €718,5 k €833,9 k €520,6 k €564,4 k €547,3 k €439 k €372,3 k €259,2 k €163 k €253,3 k €
Debts2,6 M €2,1 M €1,8 M €2,1 M €2,1 M €2,4 M €2,2 M €2 M €1,6 M €1,5 M €1,8 M €1,6 M €1,5 M €1,4 M €1,1 M €915,1 k €829,5 k €869,6 k €929,2 k €
Other
Workforce––––6,4 ETP5,4 ETP6,0 ETP5,6 ETP5,0 ETP4,6 ETP5,0 ETP5,6 ETP5,8 ETP6,0 ETP4,5 ETP3,6 ETP3,0 ETP2,6 ETP2,8 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 31/12/2025 · 2 active · 17 ended

Active mandates

Tara ESTERL

Vice-chairman of the board of directors · since 01 janvier 2024 · until 31 décembre 2026

Active
Wolfram SPARBER

Chairman of the board of directors · since 01 janvier 2024 · until 31 décembre 2026

Active

Ended mandates

Tara Nadine ESTERL

Vice-chairman of the board of directors · since 01 janvier 2024 · until 31 décembre 2026

Ended
Rainer Wolfgang JANSSEN

Chairman of the board of directors · since 01 janvier 2021 · until 31 décembre 2023

Ended
Wolfram SPARBER

Vice-chairman of the board of directors · since 01 janvier 2021 · until 31 décembre 2023

Ended
Wolfram SPARBER

Vice-chairman of the board of directors · since 01 juillet 2020 · until 31 décembre 2020

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro 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 date27/08/202625/08/202526/08/202425/07/202301/08/202227/07/2021
General meeting26/08/202625/08/202523/08/202413/07/202320/07/202220/07/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

26 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model31/12/202526/08/202627/08/2026FrenchPDF
Micro model31/12/202425/08/202525/08/2025FrenchPDF
Micro model31/12/202323/08/202426/08/2024FrenchPDF
Micro model31/12/202213/07/202325/07/2023FrenchPDF
Abridged model31/12/202120/07/202201/08/2022FrenchPDF
Abridged model31/12/202020/07/202127/07/2021FrenchPDF
Abridged model31/12/201901/09/202007/09/2020FrenchPDF
Abridged model31/12/201807/05/201913/05/2019FrenchPDF
Abridged model31/12/201706/06/201812/06/2018FrenchPDF
Abridged modelCorrection31/12/201624/05/201711/10/2017FrenchPDF
Abridged model31/12/201624/05/201713/06/2017FrenchPDF
Abridged model31/12/201501/06/201606/06/2016FrenchPDF
Abridged model31/12/201418/06/201530/06/2015FrenchPDF
Abridged model31/12/201328/05/201417/06/2014FrenchPDF
Abridged model31/12/201227/06/201303/07/2013FrenchPDF
Abridged model31/12/201127/06/201202/07/2012FrenchPDF
Abridged model31/12/201014/06/201123/06/2011FrenchPDF
Abridged model31/12/200910/06/201024/06/2010DutchPDF
Abridged model31/12/200816/06/200901/07/2009DutchPDF
Abridged model31/12/200701/07/200809/07/2008DutchPDF
Abridged model31/12/200601/06/200715/06/2007DutchPDF
Abridged model31/12/200501/06/200622/06/2007FrenchPDF
Abridged model31/12/200501/06/200602/05/2007EnglishPDF
Abridged model31/12/200327/05/200422/06/2007FrenchPDF

View all 26 filings

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 31/12/2025 · 2 active · 17 ended

Active mandates

Tara ESTERL

Vice-chairman of the board of directors · since 01 janvier 2024 · until 31 décembre 2026

Active
Wolfram SPARBER

Chairman of the board of directors · since 01 janvier 2024 · until 31 décembre 2026

Active

Ended mandates

Tara Nadine ESTERL

Vice-chairman of the board of directors · since 01 janvier 2024 · until 31 décembre 2026

Ended
Rainer Wolfgang JANSSEN

Chairman of the board of directors · since 01 janvier 2021 · until 31 décembre 2023

Ended
Wolfram SPARBER

Vice-chairman of the board of directors · since 01 janvier 2021 · until 31 décembre 2023

Ended
Wolfram SPARBER

Vice-chairman of the board of directors · since 01 juillet 2020 · until 31 décembre 2020

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates09/08/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates30/08/2023
    DEMISSIONS, NOMINATIONS - DIVERS
    PDF
  • Mandates25/10/2022
    DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates06/10/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates05/11/2020
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates12/03/2020
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates07/08/2019
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates07/02/2019
    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

Timeline

  1. 2025
    Annual accounts 202583,6 k €↑
  2. 2024
    Annual accounts 202461 k €↑
  3. 2023
    Annual accounts 202336,1 k €↓
  4. 2022
    Annual accounts 202244,1 k €↓
  5. 2021
    Annual accounts 202186 k €↑
  6. 2020
    Annual accounts 202064,8 k €↓
  7. 2019
    Annual accounts 201987,2 k €↑
  8. 2018
    Annual accounts 201837,7 k €↓
  9. 2017
    Annual accounts 201779,4 k €↑
  10. 2016
    Annual accounts 201643,9 k €↑
  11. 2015
    Annual accounts 201513,6 k €↑
  12. 2014
    Annual accounts 20147,5 k €↑
  13. 2013
    Annual accounts 20135,8 k €↑
  14. 2012
    Annual accounts 20124,4 k €↓
  15. 2011
    Annual accounts 201113,4 k €↑
  16. 2010
    Annual accounts 201011,3 k €↓
  17. 2009
    Annual accounts 200921,4 k €↑
  18. 2008
    Annual accounts 20085,2 k €↓
  19. 2007
    Annual accounts 200791,3 k €
  20. 11/09/1991
    IncorporationEuropean economic assoc with registered seat in Belgium