ACTIVE

BLUE STORES

Export PDF

Financial year 2026 · closed on 31/01/2026

Net result

2 M €

+66.4% YoY

Revenue

54,4 M €

+5.1% YoY

Equity

3,1 M €

-13.0% YoY

Workforce

39,9 ETP

+1.8% YoY

What does BLUE STORES do?

BLUE STORES is a Public limited company incorporated in 1992. Its main activity is: Wholesale of clothing and footwear. Its registered office is in Bruxelles. It employs on average 39,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0446.908.395

Incorporation

10/03/1992

Legal form

Public limited company

Registered office

Place du Samedi 1
1000 Bruxelles · BruxellesSee on map

Contributed capital

79 249,05 €

Latest accounts

31/01/2026

Average workforce

39,9 ETP

Activities (NACE)

46423Wholesale of clothing and footwear· main 46423Wholesale of clothing and footwear 47711Retail sale of clothing in specialised stores 47711Retail sale of clothing in specialised stores 52423Warehousing and support activities for transportation 47120Retail sale in non-specialised stores+1

Joint committees (2)

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2026		2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2013		2011		2010		2009		2008		2007
Income statement
Revenue	54,4 M €	+5.1%	51,7 M €	+1.3%	51 M €	-5.0%	53,7 M €	+18.8%	45,2 M €	+15.4%	39,2 M €	-29.1%	55,3 M €	-0.8%	55,8 M €	+1.6%	54,9 M €	+1.4%	54,1 M €	+2.6%	52,7 M €	+3.8%	50,8 M €	+19.9%	42,4 M €	+43.4%	29,5 M €	+26.7%	23,3 M €	+0.6%	23,2 M €	+12.0%	20,7 M €	+12.1%	18,5 M €
EBITDA	3,6 M €	+106%	1,8 M €	-24.4%	2,3 M €	-44.6%	4,2 M €	+137%	1,8 M €	-3.6%	1,8 M €	+0.3%	1,8 M €	+416%	-581 k €	+71.2%	-2 M €	-379%	721,9 k €	+14.9%	628,1 k €	-80.8%	3,3 M €	+86.4%	1,8 M €	+110%	835 k €	-37.4%	1,3 M €	+45.9%	914,2 k €	+11.6%	818,8 k €	-4.8%	860,2 k €
Operating result	3,1 M €	+123%	1,4 M €	-37.4%	2,2 M €	-46.7%	4,1 M €	+139%	1,7 M €	-3.2%	1,8 M €	+2.3%	1,7 M €	+338%	-732,5 k €	+68.3%	-2,3 M €	-690%	391,5 k €	+82.3%	214,8 k €	-92.0%	2,7 M €	+283%	701,7 k €	+306%	173 k €	-74.9%	688 k €	+75.5%	392 k €	+55.6%	252 k €	-40.7%	424,8 k €
Net result	2 M €	+66.4%	1,2 M €	-34.6%	1,9 M €	-46.8%	3,5 M €	+202%	1,2 M €	-9.2%	1,3 M €	+149%	-2,6 M €	-141%	-1,1 M €	+61.1%	-2,8 M €	-1324%	230,5 k €	-64.5%	649,9 k €	-52.5%	1,4 M €	+226%	420,2 k €	+8310%	5 k €	-98.5%	343 k €	+627%	47,2 k €	-58.2%	112,7 k €	-43.1%	197,9 k €
Balance sheet
Equity	3,1 M €	-13.0%	3,5 M €	+53.6%	2,3 M €	+454%	413,5 k €	+113%	-3,1 M €	+27.3%	-4,3 M €	+23.1%	-5,6 M €	-90.3%	-2,9 M €	-59.8%	-1,8 M €	-161%	3 M €	+8.4%	2,8 M €	-38.3%	4,5 M €	+70.4%	2,6 M €	+41.2%	1,9 M €	+0.3%	1,9 M €	+22.7%	1,5 M €	+3.2%	1,5 M €	+8.4%	1,3 M €
Total assets	24,6 M €	+9.4%	22,5 M €	+3.9%	21,7 M €	-12.7%	24,8 M €	+20.9%	20,5 M €	-7.4%	22,2 M €	+12.2%	19,8 M €	-16.4%	23,6 M €	+3.1%	22,9 M €	-8.0%	24,9 M €	-31.8%	36,5 M €	+84.0%	19,9 M €	+9.9%	18,1 M €	+26.4%	14,3 M €	+66.9%	8,6 M €	-12.0%	9,7 M €	+71.2%	5,7 M €	+24.1%	4,6 M €
Cash	4,8 M €	+71.6%	2,8 M €	-25.3%	3,8 M €	+7.2%	3,5 M €	-51.3%	7,2 M €	-26.3%	9,8 M €	+153%	3,9 M €	+51.1%	2,6 M €	+542%	398,7 k €	-86.7%	3 M €		–		3,8 M €	+3.5%	3,6 M €	+13.7%	3,2 M €	+164%	1,2 M €	+116%	557,8 k €	-20.9%	705,2 k €	+117%	325,6 k €
Debts	21,6 M €	+13.6%	19 M €	-2.0%	19,4 M €	-20.6%	24,4 M €	+3.3%	23,6 M €	-10.7%	26,5 M €	+4.5%	25,3 M €	-4.6%	26,5 M €	+7.6%	24,7 M €	+12.4%	22 M €	-35.0%	33,8 M €	+119%	15,4 M €	+5.5%	14,6 M €	+19.2%	12,2 M €	+82.8%	6,7 M €	-18.1%	8,2 M €	+96.5%	4,2 M €	+29.0%	3,2 M €
Other
Workforce	39,9 ETP	+1.8%	39,2 ETP	+0.5%	39,0 ETP	+5.4%	37,0 ETP	-3.9%	38,5 ETP	-9.0%	42,3 ETP	-2.3%	43,3 ETP	-8.5%	47,3 ETP	+0.6%	47,0 ETP	-5.8%	49,9 ETP	-4.0%	52,0 ETP	+26.2%	41,2 ETP	-22.7%	53,3 ETP	+21.7%	43,8 ETP	+5.8%	41,4 ETP	-16.9%	49,8 ETP	+4.2%	47,8 ETP	+12.2%	42,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/01/2026 · 6 active · 28 ended

Active mandates

Elodie Doret

Director · since 10 février 2026

Active

Griet Sauvenay

Director · since 10 février 2026

Active

Joachim Rubin

Managing director · since 10 février 2026

Active

Dan APPELSTEIN

Director · since 01 mars 2022 · until 10 février 2026

Active

Stephan JEGER

Managing director · since 22 janvier 2013 · until 10 février 2026

Active

Jacques APPELSTEIN

Managing director · until 10 février 2026

Active

Ended mandates

Dan APPELSTEIN

Director · since 01 mars 2022 · until 01 mars 2028

Ended

Henri APPELSTEIN

Managing director · since 25 juillet 2013 · until 24 juin 2019

Ended

Jacques APPELSTEIN

Director · since 25 juillet 2013 · until 24 juin 2019

Ended

Stephan JEGER

Managing director · since 25 juillet 2013 · until 24 juin 2019

Ended

At this address

Other companies at this address

Company	CBE no.
ALPHASTEIN● Active	0788.319.988
A & S DISTRIBUTION● Active	0473.945.166
FAMCO● Active	0477.805.271
G2G FASHION● Active	1034.133.034
IMMO APPELS● Active	0449.442.570
L&L RETAIL BELGIUM● Active	0502.938.862
LMServices● Active	0637.841.613
MAGAP● Active	0832.750.047
MZL IMMO● Active	0874.915.056
PP RETAIL HOLDING● Active	0833.211.687
PP RETAIL SERVICES● Active	0847.985.282
QS LOGISTICS● Active	0740.801.173
STEINCO● Active	0746.551.689
WATERDROPS● Active	0642.986.967

Annual accounts

Full financial information

	2026	2025	2024	2023	2022	2021
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/02/2025	01/02/2024	01/02/2023	01/02/2022	01/02/2021	01/02/2020
Closing of the financial year	31/01/2026	31/01/2025	31/01/2024	31/01/2023	31/01/2022	31/01/2021
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	17/07/2026	23/07/2025	04/07/2024	17/07/2023	22/07/2022	06/07/2021
General meeting	29/06/2026	30/06/2025	27/06/2024	29/06/2023	28/06/2022	28/06/2021
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

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/01/2026	29/06/2026	17/07/2026	French	PDF
Full model	31/01/2025	30/06/2025	23/07/2025	French	PDF
Full model	31/01/2024	27/06/2024	04/07/2024	French	PDF
Full model	31/01/2023	29/06/2023	17/07/2023	French	PDF
Full model	31/01/2022	28/06/2022	22/07/2022	French	PDF
Full model	31/01/2021	28/06/2021	06/07/2021	French	PDF
Full model	31/01/2020	29/06/2020	20/07/2020	French	PDF
Full model	31/01/2019	24/06/2019	02/07/2019	French	PDF
Full model	31/01/2018	25/06/2018	20/07/2018	French	PDF
Full model	31/01/2017	26/06/2017	01/08/2017	French	PDF
Full model	31/01/2016	29/06/2016	01/07/2016	French	PDF
Full model	31/01/2015	29/06/2015	02/07/2015	French	PDF
Full model	31/01/2014	19/09/2014	22/09/2014	French	PDF
Full model	31/01/2013	25/07/2013	30/07/2013	French	PDF
Full model	31/01/2012	27/09/2012	03/12/2012	French	PDF
Full model	31/01/2011	09/11/2011	21/11/2011	French	PDF
Full model	31/01/2010	30/09/2010	30/09/2010	French	PDF
Full model	31/01/2009	22/12/2009	23/12/2009	French	PDF
Full model	31/01/2008	04/09/2008	07/10/2008	French	PDF
Full model	31/01/2007	28/09/2007	02/10/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 31/01/2026 · 6 active · 28 ended

Active mandates

Elodie Doret

Director · since 10 février 2026

Active

Griet Sauvenay

Director · since 10 février 2026

Active

Joachim Rubin

Managing director · since 10 février 2026

Active

Dan APPELSTEIN

Director · since 01 mars 2022 · until 10 février 2026

Active

Stephan JEGER

Managing director · since 22 janvier 2013 · until 10 février 2026

Active

Jacques APPELSTEIN

Managing director · until 10 février 2026

Active

Ended mandates

Dan APPELSTEIN

Director · since 01 mars 2022 · until 01 mars 2028

Ended

Henri APPELSTEIN

Managing director · since 25 juillet 2013 · until 24 juin 2019

Ended

Jacques APPELSTEIN

Director · since 25 juillet 2013 · until 24 juin 2019

Ended

Stephan JEGER

Managing director · since 25 juillet 2013 · until 24 juin 2019

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/03/2026
DEMISSIONS, NOMINATIONS
PDF
Other19/02/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office09/01/2023
SIEGE SOCIAL
PDF
Mandates29/04/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates01/08/2019
DEMISSIONS, NOMINATIONS
PDF
Registered office24/09/2018
SIEGE SOCIAL
PDF
Mandates02/07/2014
DEMISSIONS, NOMINATIONS
PDF
Restructuring16/09/2013
CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
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

2026
Annual accounts 20262 M €↑
2025
Annual accounts 20251,2 M €↓
2024
Annual accounts 20241,9 M €↓
2024
Name changeBLUESTORES SA
2023
Annual accounts 20233,5 M €↑
2022
Annual accounts 20221,2 M €↓
2021
Annual accounts 20211,3 M €↑
2020
Annual accounts 2020-2,6 M €↓
2019
Annual accounts 2019-1,1 M €↑
2018
Annual accounts 2018-2,8 M €↓
2017
Annual accounts 2017230,5 k €↓
2016
Annual accounts 2016649,9 k €↓
2015
Annual accounts 20151,4 M €↑
2013
Annual accounts 2013420,2 k €↑
2011
Annual accounts 20115 k €↓
2010
Annual accounts 2010343 k €↑
2009
Annual accounts 200947,2 k €↓
2008
Annual accounts 2008112,7 k €↓
2007
Annual accounts 2007197,9 k €
2007
Name changeBLUE STORES
10/03/1992
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

BLUE STORES

Overview

What does BLUE STORES 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