ACTIVE

A & C SYSTEMS

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Financial year 2025 · closed on 31/10/2025

Net result

7,4 M €

+34.8% YoY

Revenue

295,1 M €

+31.0% YoY

Equity

21,1 M €

+13.1% YoY

Workforce

89,4 ETP

+5.4% YoY

What does A & C SYSTEMS do?

A & C SYSTEMS is a Public limited company incorporated in 1991. Its registered office is in Hoegaarden. It employs on average 89,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0445.299.482

Incorporation

04/10/1991

Legal form

Public limited company

Registered office

Bleyveldstraat 16A
3320 Hoegaarden · FlandreSee on map

Contributed capital

5 864 000,00 €

Latest accounts

31/10/2025

Average workforce

89,4 ETP

Joint committees (4)

100
14901
200
218

Contacts

1 public detail availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	295,1 M €	+31.0%	225,2 M €	-1.4%	228,3 M €	-21.0%	288,9 M €	+15.5%	250,1 M €	+24.5%	200,8 M €	+5.9%	189,6 M €	+6.3%	178,4 M €	+1.2%	176,2 M €	-17.7%	214 M €	+4.1%	205,5 M €	+8.1%	190 M €	+15.4%	164,7 M €	+33.9%	123 M €	+12.3%	109,5 M €	+7.0%	102,4 M €	+50.6%	68 M €	+27.5%	53,3 M €	-4.0%	55,5 M €
EBITDA	7,4 M €	+63.5%	4,6 M €	+143%	1,9 M €	-54.5%	4,1 M €	-6.5%	4,4 M €	-11.0%	4,9 M €	+1.6%	4,9 M €	-8.2%	5,3 M €	-12.5%	6,1 M €	-7.2%	6,5 M €	+30.2%	5 M €	-11.3%	5,7 M €	-11.3%	6,4 M €	+124%	2,8 M €	-22.8%	3,7 M €	-15.1%	4,3 M €	+74.2%	2,5 M €	-19.1%	3,1 M €	+8.4%	2,8 M €
Operating result	7,2 M €	+75.3%	4,1 M €	+53.0%	2,7 M €	-25.0%	3,6 M €	-19.2%	4,4 M €	+7.9%	4,1 M €	-8.6%	4,5 M €	-7.6%	4,9 M €	+4.9%	4,6 M €	-24.1%	6,1 M €	+25.0%	4,9 M €	+9.7%	4,5 M €	-26.1%	6 M €	+128%	2,6 M €	-6.7%	2,8 M €	-11.6%	3,2 M €	+111%	1,5 M €	-23.6%	2 M €	-18.5%	2,4 M €
Net result	7,4 M €	+34.8%	5,5 M €	+222%	1,7 M €	-71.1%	5,9 M €	+20.5%	4,9 M €	-8.2%	5,4 M €	+49.9%	3,6 M €	+32.6%	2,7 M €	+7.8%	2,5 M €	-27.2%	3,4 M €	+22.1%	2,8 M €	+10.5%	2,5 M €	-18.3%	3,1 M €	+134%	1,3 M €	-9.6%	1,5 M €	+3.7%	1,4 M €	+15.2%	1,2 M €	-8.0%	1,3 M €	-22.7%	1,7 M €
Balance sheet
Equity	21,1 M €	+13.1%	18,6 M €	+12.9%	16,5 M €	+47.4%	11,2 M €	+8.6%	10,3 M €	-4.8%	10,8 M €	+11.2%	9,7 M €	+15.5%	8,4 M €	-17.6%	10,2 M €	-9.8%	11,3 M €	-6.4%	12,1 M €	+10.0%	11 M €	+29.9%	8,5 M €	+20.2%	7,1 M €	+4.5%	6,7 M €	+22.0%	5,5 M €	+11.4%	5 M €	+58.4%	3,1 M €	+12.1%	2,8 M €
Total assets	62,1 M €	+19.9%	51,8 M €	+23.3%	42 M €	-12.0%	47,7 M €	-9.6%	52,8 M €	+22.3%	43,2 M €	+12.8%	38,3 M €	-18.0%	46,7 M €	+5.9%	44,1 M €	+14.8%	38,4 M €	-14.8%	45 M €	+24.0%	36,3 M €	-13.2%	41,8 M €	+34.5%	31,1 M €	-1.0%	31,4 M €	+7.1%	29,3 M €	+20.5%	24,3 M €	+55.2%	15,7 M €	+16.5%	13,5 M €
Cash	301,9 k €	+91.2%	157,9 k €	-63.2%	428,6 k €	-18.3%	524,7 k €	+1197%	40,4 k €	-86.3%	295,6 k €	+293%	75,3 k €	-52.8%	159,4 k €	-77.5%	708,9 k €	+196%	239,6 k €	-3.8%	249 k €	+111%	118,2 k €	-94.7%	2,2 M €	+103%	1,1 M €	+24.4%	886,9 k €	+25.9%	704,3 k €	+1765%	37,8 k €	-89.6%	363,9 k €	+49.2%	243,9 k €
Debts	34,3 M €	+32.2%	25,9 M €	+21.4%	21,4 M €	-36.1%	33,4 M €	-14.5%	39,1 M €	+32.0%	29,6 M €	+15.7%	25,6 M €	-27.2%	35,2 M €	+11.7%	31,5 M €	+28.7%	24,5 M €	-20.1%	30,6 M €	+32.8%	23,1 M €	-28.3%	32,2 M €	+43.0%	22,5 M €	-2.9%	23,2 M €	+3.1%	22,5 M €	+21.1%	18,6 M €	+51.1%	12,3 M €	+20.4%	10,2 M €
Other
Workforce	89,4 ETP	+5.4%	84,8 ETP	-6.9%	91,1 ETP	-4.2%	95,1 ETP	-4.3%	99,4 ETP	-5.7%	105,4 ETP	-7.8%	114,3 ETP	+5.0%	108,9 ETP	+13.7%	95,8 ETP	+4.5%	91,7 ETP	+3.5%	88,6 ETP	+14.3%	77,5 ETP	+16.0%	66,8 ETP	+7.9%	61,9 ETP	+4.2%	59,4 ETP	+9.2%	54,4 ETP	+4.8%	51,9 ETP	-10.1%	57,7 ETP	-2.7%	59,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/10/2025 · 3 active · 27 ended

Active mandates

Bruno LISEN

Managing director · since 12 mars 2021 · until 01 mars 2027

Active

Dirk HARDY

Director · since 12 mars 2021 · until 01 mars 2027

Active

Guy VOS

Managing director · since 12 mars 2021 · until 01 mars 2027

Active

Ended mandates

HLC

Director · since 21 mars 2015 · until 01 mars 2021 · 0824.077.455

Represented by Dirk Hardy

Ended

A&C Group

Managing director · since 02 mars 2015 · until 01 mars 2021 · 0896.238.626

Represented by Bruno Lisen

Ended

A&C Group

Managing director · since 02 mars 2015 · until 01 mars 2021 · 0896.238.626

Represented by Bruno Lisen

Ended

A&C Group

Managing director · since 02 mars 2015 · until 01 mars 2021 · 0896.238.626

Represented by Bruno Lisen

Ended

At this address

Other companies at this address

Company	CBE no.
Bellimmo Hoegaarden● Active	0842.176.269

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/11/2024	01/11/2023	01/11/2022	01/11/2021	01/11/2020	01/11/2019
Closing of the financial year	31/10/2025	31/10/2024	31/10/2023	31/10/2022	31/10/2021	31/10/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	23/03/2026	27/03/2025	21/03/2024	29/03/2023	24/03/2022	17/03/2021
General meeting	16/03/2026	03/03/2025	04/03/2024	06/03/2023	07/03/2022	01/03/2021
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
Full model	31/10/2025	16/03/2026	23/03/2026	Dutch	PDF
Full model	31/10/2024	03/03/2025	27/03/2025	Dutch	PDF
Full model	31/10/2023	04/03/2024	21/03/2024	Dutch	PDF
Full model	31/10/2022	06/03/2023	29/03/2023	Dutch	PDF
Full model	31/10/2021	07/03/2022	24/03/2022	Dutch	PDF
Full model	31/10/2020	01/03/2021	17/03/2021	Dutch	PDF
Full model	31/10/2019	02/03/2020	23/03/2020	Dutch	PDF
Full model	31/10/2018	04/03/2019	28/03/2019	Dutch	PDF
Full model	31/10/2017	05/03/2018	21/03/2018	Dutch	PDF
Full model	31/10/2016	06/03/2017	28/03/2017	Dutch	PDF
Full model	31/10/2015	07/03/2016	04/04/2016	Dutch	PDF
Full model	31/10/2014	02/03/2015	12/03/2015	Dutch	PDF
Full model	31/10/2013	03/03/2014	31/03/2014	Dutch	PDF
Full model	31/10/2012	04/03/2013	11/03/2013	Dutch	PDF
Full model	31/10/2011	30/04/2012	24/05/2012	Dutch	PDF
Full model	31/10/2010	07/03/2011	04/04/2011	Dutch	PDF
Full model	31/10/2009	01/03/2010	22/04/2010	Dutch	PDF
Full model	31/10/2008	02/03/2009	07/04/2009	Dutch	PDF
Full model	31/10/2007	21/03/2008	06/05/2008	Dutch	PDF
Full model	31/10/2006	05/03/2007	30/03/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 31/10/2025 · 3 active · 27 ended

Active mandates

Bruno LISEN

Managing director · since 12 mars 2021 · until 01 mars 2027

Active

Dirk HARDY

Director · since 12 mars 2021 · until 01 mars 2027

Active

Guy VOS

Managing director · since 12 mars 2021 · until 01 mars 2027

Active

Ended mandates

HLC

Director · since 21 mars 2015 · until 01 mars 2021 · 0824.077.455

Represented by Dirk Hardy

Ended

A&C Group

Managing director · since 02 mars 2015 · until 01 mars 2021 · 0896.238.626

Represented by Bruno Lisen

Ended

A&C Group

Managing director · since 02 mars 2015 · until 01 mars 2021 · 0896.238.626

Represented by Bruno Lisen

Ended

A&C Group

Managing director · since 02 mars 2015 · until 01 mars 2021 · 0896.238.626

Represented by Bruno Lisen

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Annual accounts19/06/2026
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - JAARREKENINGEN - BOEKJAAR
PDF
Mandates03/04/2025
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares27/10/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates31/03/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/03/2021
BENAMING - MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/04/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/04/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/03/2015
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 20257,4 M €↑
04/03/2025
reconductionBV Foqué en Partners — commissaris revisor
2024
Annual accounts 20245,5 M €↑
2023
Annual accounts 20231,7 M €↓
25/10/2023
augmentation_capital
2022
Annual accounts 20225,9 M €↑
2021
Annual accounts 20214,9 M €↓
2020
Annual accounts 20205,4 M €↑
2019
Annual accounts 20193,6 M €↑
2018
Annual accounts 20182,7 M €↑
2017
Annual accounts 20172,5 M €↓
2016
Annual accounts 20163,4 M €↑
2015
Annual accounts 20152,8 M €↑
2014
Annual accounts 20142,5 M €↓
2013
Annual accounts 20133,1 M €↑
2012
Annual accounts 20121,3 M €↓
2011
Annual accounts 20111,5 M €↑
2010
Annual accounts 20101,4 M €↑
2009
Annual accounts 20091,2 M €↓
2008
Annual accounts 20081,3 M €↓
2007
Annual accounts 20071,7 M €
04/10/1991
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

A & C SYSTEMS

Overview

What does A & C SYSTEMS do?

Trend over 19 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