Forum ETHIBEL
0445.738.556 · rovalta.com · 25/09/2026
ACTIVE
Forum ETHIBEL
Financial year 2025 · Closed on 31/12/2025
Net result-365,6 k €-296,6 %over 1 year
Gross margin234,3 k €-71,4 %over 1 year
Equity1 M €-26,5 %over 1 year
Workforce6,8 ETP-8,1 %over 1 year
Overview
Identity
Source · BCE/KBOForum ETHIBEL is a Non-profit organization incorporated in 1991. Its main activity is: Market research and public opinion polling. Its registered office is in Schaerbeek. It employs on average 6,8 ETP workers (FTE).
- Legal situation
- Normal situation
- BCE/KBO no. / VAT
- BE 0445.738.556
- Incorporation
- 25/10/1991
- Legal form
- Non-profit organization
- Registered office
- Rue du Progrès 333 box 7
1030 Schaerbeek · BruxellesSee on map - Latest accounts
- 31/12/2025
- Average workforce
- 6,8 ETP
Activities (NACE)
73200Market research and public opinion polling· main73200Market research and public opinion polling74131Specialised design activities91330Libraries, archives, museums and other cultural activities94999Activities of other membership organisations n.e.c.94999Activities of other membership organisations n.e.c.
Signals
Solid equityLow riskGood liquidityHealthy social debts
Financials
Source · NBB, 10 filingsTrend over 10 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||
| Gross margin | 234,3 k € | -71.4% | 817,8 k € | +105% | 399,3 k € | -40.0% | 665,3 k € | +6.5% | 624,7 k € |
| EBITDA | -365,2 k € | -297% | 185,6 k € | +183% | -224,2 k € | -258% | 142 k € | -41.4% | 242,5 k € |
| Operating result | -370 k € | -306% | 179,3 k € | +177% | -233,3 k € | -276% | 132,9 k € | -43.6% | 235,6 k € |
| Net result | -365,6 k € | -297% | 185,9 k € | +181% | -230,9 k € | -274% | 133,1 k € | -43.5% | 235,6 k € |
| Balance sheet | |||||||||
| Equity | 1 M € | -26.5% | 1,4 M € | +15.6% | 1,2 M € | -16.2% | 1,4 M € | +10.3% | 1,3 M € |
| Total assets | 1,1 M € | -28.5% | 1,6 M € | +19.6% | 1,3 M € | -15.6% | 1,6 M € | +9.4% | 1,4 M € |
| Cash | 1 M € | -23.0% | 1,3 M € | +5.5% | 1,2 M € | -16.0% | 1,5 M € | +12.9% | 1,3 M € |
| Debts | 84 k € | -35.7% | 130,6 k € | +28.1% | 101,9 k € | -9.6% | 112,8 k € | -2.0% | 115 k € |
| Other | |||||||||
| Workforce | 6,8 ETP | -8.1% | 7,4 ETP | -6.3% | 7,9 ETP | +3.9% | 7,6 ETP | +38.2% | 5,5 ETP |
Valuation
Indicative valuation
As an indication, this company is worth
between 1 M€ and 2,5 M€
See the valuationBoard of directors
Source · NBB, accounts to 31/12/20259 active · 31 ended
Active mandates
Catherine Louies
ActiveJordi Lesaffer
ActiveOphélie Mortier
ActiveTrijnte Huisman
ActiveEddy Van Hemelrijck
ActiveBart Corijn
ActiveDirk Van Braeckel
ActiveEddy Laurijssen
ActiveMatilde Defraeije
ActiveEnded mandates
Alex Houtart
EndedAlex Houtart
EndedAnne Sophie Pijcke
EndedAnne Sophie Pijcke
EndedOther companies at this address
Rue du Progrès 333 1030 Schaerbeek| Company | CBE no. |
|---|---|
| 0643.729.612 | |
ASSOCIATION FOR RESPONSIBLE INVESTMENT SERVICES● Liquidation | 0866.685.694 |
| 0446.928.983 | |
| 0835.776.942 | |
| 0442.502.320 | |
GetBasic● Active | 0457.355.493 |
| 0457.746.364 | |
| 0445.776.366 | |
V.M.E. VOORUITGANGSTRAAT 333● Active | 0851.420.666 |
Financials
Full financial information
Source · NBB| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Abridged model | Abridged model | Abridged model | Abridged model | Abridged model | Abridged 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 | 15/05/2026 | 04/06/2025 | 24/05/2024 | 19/05/2023 | 27/06/2022 | 30/06/2021 |
| General meeting | 23/04/2026 | 06/05/2025 | 02/05/2024 | 20/04/2023 | 21/04/2022 | 01/04/2021 |
| 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 |
Financial ratios
Source · NBBLooking for more information about this company?
Try for 7 daysAnnual accounts filings
Source · NBB, 10 filings| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Abridged model | 31/12/2025 | 23/04/2026 | 15/05/2026 | Dutch | |
| Abridged model | 31/12/2024 | 06/05/2025 | 04/06/2025 | Dutch | |
| Abridged model | 31/12/2023 | 02/05/2024 | 24/05/2024 | Dutch | |
| Abridged model | 31/12/2022 | 20/04/2023 | 19/05/2023 | Dutch | |
| Abridged model | 31/12/2021 | 21/04/2022 | 27/06/2022 | Dutch | |
| Abridged model | 31/12/2020 | 01/04/2021 | 30/06/2021 | Dutch | |
| Abridged model | 31/12/2019 | 11/06/2020 | 30/06/2020 | Dutch | |
| Abridged model | 31/12/2018 | 02/04/2019 | 01/07/2019 | Dutch | |
| Abridged model | 31/12/2017 | 16/04/2018 | 02/07/2018 | Dutch | |
| Abridged model | 31/12/2016 | 24/04/2017 | 30/06/2017 | Dutch |
Valuation
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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Board of directors
Source · NBB, accounts to 31/12/20259 active · 31 ended
Active mandates
Catherine Louies
ActiveJordi Lesaffer
ActiveOphélie Mortier
ActiveTrijnte Huisman
ActiveEddy Van Hemelrijck
ActiveBart Corijn
ActiveDirk Van Braeckel
ActiveEddy Laurijssen
ActiveMatilde Defraeije
ActiveEnded mandates
Alex Houtart
EndedAlex Houtart
EndedAnne Sophie Pijcke
EndedAnne Sophie Pijcke
EndedOwnership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette publications
Source · Belgian Official Gazette- Mandates17/08/2026Benoeming en ontslag bestuurders
- Mandates17/08/2026Nominations et démissions des Administrateurs
- Mandates05/02/2026DEMISSIONS, NOMINATIONS
- Mandates03/10/2025DEMISSIONS, NOMINATIONS
- Mandates03/10/2025ONTSLAGEN - BENOEMINGEN
- Mandates04/07/2025ONTSLAGEN - BENOEMINGEN
- Mandates19/09/2024DEMISSIONS, NOMINATIONS
- Mandates19/09/2024ONTSLAGEN - BENOEMINGEN
Similar companies
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025-365,6 k €↓
- 2024Annual accounts 2024185,9 k €↑
- 2023Annual accounts 2023-230,9 k €↓
- 2022Annual accounts 2022133,1 k €↓
- 2021Annual accounts 2021235,6 k €↓
- 2020Annual accounts 2020365,9 k €↑
- 2019Annual accounts 2019323,3 k €↑
- 2018Annual accounts 2018-132,8 k €↓
- 2017Annual accounts 2017-124,3 k €↓
- 2016Annual accounts 201635,7 k €
- 25/10/1991IncorporationNon-profit organization