ACTIVE

HEMICYCLE

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Financial year 2025 · closed on 31/12/2025

Net result

65,5 k €

-20.8% YoY

Gross margin

115,3 k €

-14.4% YoY

Equity

870 k €

+1.2% YoY

What does HEMICYCLE do?

HEMICYCLE is a Private company with limited liability incorporated in 1991. Its main activity is: Silviculture and other forestry activities. Its registered office is in Houyet.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0446.155.062

Incorporation

17/12/1991

Legal form

Private company with limited liability

Registered office

Grande-Trussogne, Celles 9B
5561 Houyet · WallonieSee on map

Contributed capital

6 197,33 €

Latest accounts

31/12/2025

Activities (NACE)

02100Silviculture and other forestry activities· main 58130Publishing of newspapers 70200Management consultancy activities 74201Photographic activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	115,3 k €	-14.4%	134,6 k €	+44.1%	93,4 k €	-41.8%	160,5 k €	+39.9%	114,7 k €	-5.9%	121,9 k €	+7.9%	113 k €	+347%	25,3 k €	-86.9%	193 k €	+331%	44,8 k €	+17.9%	38 k €	+130%	16,5 k €	-62.0%	43,4 k €	-29.0%	61,2 k €	+39.4%	43,9 k €	+301%	11 k €	-51.7%	22,7 k €	+43.0%	15,8 k €	-40.9%	26,8 k €	-32.5%	39,7 k €
EBITDA	107,1 k €	-19.9%	133,6 k €	+43.6%	93 k €	-41.7%	159,5 k €	+40.2%	113,7 k €	-6.2%	121,1 k €	+8.1%	112,1 k €	+350%	24,9 k €	-87.0%	191,6 k €	+412%	37,4 k €	+3.1%	36,3 k €	+127%	16 k €	-62.3%	42,4 k €	-30.7%	61,2 k €	+43.5%	42,6 k €	+332%	9,9 k €	-53.2%	21,1 k €	+45.7%	14,5 k €	-43.0%	25,4 k €	-33.8%	38,4 k €
Operating result	89 k €	-20.0%	111,3 k €	+61.4%	68,9 k €	-48.8%	134,6 k €	+57.8%	85,3 k €	-9.1%	93,8 k €	+10.8%	84,7 k €	+3099%	2,6 k €	-98.4%	170,5 k €	+661%	22,4 k €	+5.6%	21,2 k €	+2553%	799,8 €	-96.9%	26,1 k €	-51.9%	54,2 k €	+474%	-14,5 k €	-176%	-5,3 k €	-200%	5,3 k €	+711%	649,3 €	-91.6%	7,7 k €	-65.0%	22 k €
Net result	65,5 k €	-20.8%	82,7 k €	+86.7%	44,3 k €	-88.3%	379,8 k €	+538%	59,5 k €	+7.7%	55,3 k €	-6.9%	59,3 k €	+383675%	-15,5 €	-100%	101,3 k €	+583%	14,8 k €	+0.4%	14,8 k €	+555%	-3,2 k €	-117%	19 k €	-63.3%	51,8 k €	+407%	-16,9 k €	-113%	-7,9 k €	-448%	2,3 k €	+148%	-4,7 k €	-167%	7 k €	-50.6%	14,1 k €
Balance sheet
Equity	870 k €	+1.2%	859,8 k €	+2.8%	836,4 k €	-6.4%	893,3 k €	+74.0%	513,5 k €	+13.1%	454 k €	+13.9%	398,7 k €	+17.5%	339,4 k €	-0.0%	339,4 k €	+42.0%	238,9 k €	+6.6%	224,1 k €	+6.6%	210,2 k €	-1.9%	214,2 k €	+9.3%	196 k €	+23.1%	159,2 k €	-18.8%	196,1 k €	-4.3%	204,8 k €	+0.7%	203,3 k €	-5.0%	214 k €	+3.0%	207,8 k €
Total assets	1,1 M €	+12.8%	995,7 k €	+1.7%	979,4 k €	-2.1%	1 M €	+61.0%	621,8 k €	+6.5%	584,1 k €	+16.4%	501,8 k €	-3.6%	520,7 k €	+9.3%	476,4 k €	+47.1%	323,9 k €	+14.5%	282,8 k €	-1.5%	287,2 k €	-30.8%	414,9 k €	+34.8%	307,8 k €	+15.9%	265,5 k €	-12.5%	303,5 k €	-6.4%	324,2 k €	-17.1%	390,9 k €	+22.4%	319,3 k €	-20.0%	399,4 k €
Cash	178,3 k €	+295%	45,2 k €	-41.7%	77,5 k €	-90.6%	828,4 k €	+108%	399 k €	+22.3%	326,4 k €	+21.8%	268 k €	+105%	130,4 k €	+63.5%	79,8 k €	+428%	15,1 k €	-50.2%	30,3 k €	-53.0%	64,5 k €	+60.3%	40,2 k €	+81.8%	22,1 k €	-30.3%	31,8 k €	+54.8%	20,5 k €	-36.0%	32,1 k €	+402%	6,4 k €	-89.2%	58,9 k €	+325%	13,9 k €
Debts	252,9 k €	+86.0%	135,9 k €	-4.9%	143 k €	+32.9%	107,6 k €	-0.6%	108,2 k €	-16.8%	130,1 k €	+26.2%	103,1 k €	-43.2%	181,4 k €	+32.4%	137 k €	+61.4%	84,9 k €	+44.7%	58,7 k €	-23.8%	77,1 k €	-61.6%	200,7 k €	+79.5%	111,8 k €	+5.1%	106,4 k €	-1.0%	107,4 k €	-10.1%	119,5 k €	-36.3%	187,6 k €	+78.1%	105,3 k €	-45.0%	191,6 k €

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 · 1 active

Active mandates

Benoît PETIT

Manager

Active

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Abridged model	Abridged model	Abridged model	Micro 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	31/08/2026	30/07/2025	13/08/2024	28/08/2023	16/08/2022	17/08/2021
General meeting	30/06/2026	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021
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
Micro model	31/12/2025	30/06/2026	31/08/2026	French	PDF
Abridged model	31/12/2024	30/06/2025	30/07/2025	French	PDF
Abridged model	31/12/2023	30/06/2024	13/08/2024	French	PDF
Abridged model	31/12/2022	30/06/2023	28/08/2023	French	PDF
Micro model	31/12/2021	30/06/2022	16/08/2022	French	PDF
Abridged model	31/12/2020	30/06/2021	17/08/2021	French	PDF
Abridged model	31/12/2019	30/06/2020	26/08/2020	French	PDF
Abridged model	31/12/2018	30/06/2019	27/08/2019	French	PDF
Abridged model	31/12/2017	30/06/2018	21/08/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	25/08/2017	French	PDF
Abridged model	31/12/2015	30/06/2016	30/08/2016	French	PDF
Abridged model	31/12/2014	30/06/2015	28/08/2015	French	PDF
Abridged model	31/12/2013	30/06/2014	28/08/2014	French	PDF
Abridged model	31/12/2012	30/06/2013	28/08/2013	French	PDF
Abridged model	31/12/2011	30/06/2012	24/08/2012	French	PDF
Abridged model	31/12/2010	30/06/2011	29/08/2011	French	PDF
Abridged model	31/12/2009	30/06/2010	25/08/2010	French	PDF
Abridged model	31/12/2008	30/06/2009	28/08/2009	French	PDF
Abridged model	31/12/2007	30/06/2008	08/08/2008	French	PDF
Abridged model	31/12/2006	30/06/2007	17/07/2007	French	PDF

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 · 1 active

Active mandates

Benoît PETIT

Manager

Active

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office26/08/2026
Transfert du siège
PDF
Registered office13/11/2025
SIEGE SOCIAL
PDF
Registered office23/04/2014
SIEGE SOCIAL
PDF
Registered office31/03/2009
SIEGE SOCIAL
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 202565,5 k €↓
2024
Annual accounts 202482,7 k €↑
2023
Annual accounts 202344,3 k €↓
2022
Annual accounts 2022379,8 k €↑
2021
Annual accounts 202159,5 k €↑
2020
Annual accounts 202055,3 k €↓
2019
Annual accounts 201959,3 k €↑
2018
Annual accounts 2018-15,5 €↓
2017
Annual accounts 2017101,3 k €↑
2016
Annual accounts 201614,8 k €↑
2015
Annual accounts 201514,8 k €↑
2014
Annual accounts 2014-3,2 k €↓
2013
Annual accounts 201319 k €↓
2012
Annual accounts 201251,8 k €↑
2011
Annual accounts 2011-16,9 k €↓
2010
Annual accounts 2010-7,9 k €↓
2009
Annual accounts 20092,3 k €↑
2008
Annual accounts 2008-4,7 k €↓
2007
Annual accounts 20077 k €↓
2006
Annual accounts 200614,1 k €
17/12/1991
IncorporationPrivate company with limited liability

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

HEMICYCLE

Overview

What does HEMICYCLE do?

Trend over 20 financial years

Indicative valuation

Board of directors

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