ACTIVE

FINNAVAAL

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Financial year 2025 · closed on 31/12/2025

Net result

5,8 M €

+55.8% YoY

Revenue

75 k €

0.0% YoY

Equity

14,7 M €

+28.9% YoY

What does FINNAVAAL do?

FINNAVAAL is a Public limited company incorporated in 1992. Its main activity is: Activities of holding companies. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0447.229.485

Incorporation

23/04/1992

Legal form

Public limited company

Registered office

Boomsesteenweg 174
2610 Antwerpen · FlandreSee on map

Contributed capital

715 100,00 €

Latest accounts

31/12/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 74151Specialised design activities

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Revenue	75 k €	0.0%	75 k €	+114%	35 k €	0.0%	35 k €	+45.8%	24 k €	-71.4%	84 k €	0.0%	84 k €	0.0%	84 k €	0.0%	84 k €	0.0%	84 k €	0.0%	84 k €	0.0%	84 k €	0.0%	84 k €	0.0%	84 k €	+13.8%	73,8 k €	+4.5%	70,6 k €	0.0%	70,6 k €	+3.2%	68,4 k €
EBITDA	-390,5 k €	-288%	-100,7 k €	-63.7%	-61,5 k €	-631%	11,6 k €	-58.1%	27,6 k €	+481%	-7,2 k €	-147%	15,4 k €	-63.7%	42,4 k €	-49.2%	83,5 k €	-8.7%	91,5 k €	-6.8%	98,2 k €	+4.8%	93,7 k €	+19.6%	78,3 k €	+6.5%	73,5 k €	-17.2%	88,7 k €	-6.4%	94,8 k €	+2.9%	92,2 k €	-0.5%	92,6 k €
Operating result	-390,5 k €	-288%	-100,7 k €	-63.7%	-61,5 k €	-631%	11,6 k €	-58.1%	27,6 k €	+481%	-7,2 k €	-147%	15,4 k €	-63.7%	42,4 k €	-49.2%	83,5 k €	-8.7%	91,5 k €	-6.8%	98,2 k €	+4.8%	93,7 k €	+19.6%	78,3 k €	+6.5%	73,5 k €	-17.0%	88,5 k €	-6.1%	94,3 k €	+2.9%	91,6 k €	-0.5%	92,1 k €
Net result	5,8 M €	+55.8%	3,7 M €	+15.6%	3,2 M €	+18.0%	2,7 M €	-1.8%	2,8 M €	-52.3%	5,8 M €	+221%	1,8 M €	+206%	592,7 k €	-81.2%	3,2 M €	-30.7%	4,5 M €	+327%	1,1 M €	+5.6%	1 M €	-6.8%	1,1 M €	-60.7%	2,7 M €	+138%	1,2 M €	-81.9%	6,4 M €	+506%	1,1 M €	+3.6%	1 M €
Balance sheet
Equity	14,7 M €	+28.9%	11,4 M €	+12.0%	10,2 M €	+7.6%	9,4 M €	-10.2%	10,5 M €	-6.4%	11,2 M €	-17.1%	13,6 M €	+15.5%	11,8 M €	-7.9%	12,8 M €	+21.2%	10,5 M €	+44.3%	7,3 M €	+2.3%	7,1 M €	+1.5%	7 M €	+4.8%	6,7 M €	+39.1%	4,8 M €	+7.0%	4,5 M €	-7.7%	4,9 M €	+5.1%	4,6 M €
Total assets	17,2 M €	+23.7%	13,9 M €	+9.5%	12,7 M €	-4.3%	13,3 M €	-5.5%	14 M €	+12.5%	12,5 M €	-8.1%	13,6 M €	+1.4%	13,4 M €	-2.8%	13,8 M €	+25.4%	11 M €	+33.8%	8,2 M €	+2.2%	8 M €	+3.0%	7,8 M €	+2.9%	7,6 M €	+31.5%	5,8 M €	+6.3%	5,4 M €	-5.1%	5,7 M €	+4.8%	5,5 M €
Cash	4,1 M €	-2.8%	4,2 M €	+41.3%	3 M €	-29.9%	4,2 M €	-17.5%	5,1 M €	+1293%	369,3 k €	-25.4%	494,8 k €	+28.6%	384,6 k €	-93.9%	6,3 M €	+125%	2,8 M €	+48505%	5,7 k €	+27.9%	4,5 k €	-8.1%	4,9 k €	-97.0%	162 k €	+21943%	735,1 €	-88.1%	6,2 k €	+54.2%	4 k €	-81.9%	22,2 k €
Debts	2,5 M €	+0.3%	2,5 M €	-0.7%	2,5 M €	-33.7%	3,8 M €	+8.6%	3,5 M €	+184%	1,2 M €	+8311%	14,7 k €	-99.1%	1,6 M €	+61.2%	1 M €	+120%	464,3 k €	-49.5%	918,7 k €	+1.5%	904,7 k €	+16.2%	778,8 k €	-11.7%	882,4 k €	-7.2%	950,6 k €	+2.8%	924,6 k €	+10.4%	837,7 k €	+2.7%	815,8 k €
Other
Workforce	–		–		–		–		–		1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 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 31/12/2025 · 4 active · 24 ended

Active mandates

Christian Vanderhaeghe

Managing director · since 15 mai 2025 · until 18 mai 2028

Active

Jean-Christophe Smeets

Director · since 15 mai 2025 · until 18 mai 2028

Active

Julien Vanderhaeghe

Director · since 15 mai 2025 · until 18 mai 2028

Active

WHITE ROCKS

Director · since 15 mai 2025 · until 18 mai 2028 · 0792.955.105

Represented by Thomas Vanderhaeghe

Active

Ended mandates

Julien Vanderhaeghe

Director · since 19 mars 2023 · until 28 avril 2025

Ended

WHITE ROCKS

Director · since 19 mars 2023 · until 28 avril 2025 · 0792.955.105

Represented by Thomas Vanderhaeghe

Ended

Christian Vanderhaeghe

Managing director · since 25 mai 2022 · until 15 mai 2025

Ended

Jean-Christophe Smeets

Director · since 25 mai 2022 · until 15 mai 2025

Ended

At this address

Other companies at this address

Company	CBE no.
AG-TEC● Active	0449.110.691
HILAIRE VAN DER HAEGHE● Active	0420.546.567
VALAAR● Active	0447.229.386

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	01/01/2025	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	15/06/2026	16/06/2025	31/05/2024	16/06/2023	16/06/2022	21/05/2021
General meeting	21/05/2026	15/05/2025	16/05/2024	19/05/2023	25/05/2022	29/04/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

59 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	21/05/2026	15/06/2026	Dutch	PDF
m120-f-p	31/12/2025	21/05/2026	15/06/2026	Dutch	PDF
Full model	31/12/2024	15/05/2025	16/06/2025	Dutch	PDF
m120-f-p	31/12/2024	15/05/2025	12/06/2025	Dutch	PDF
Full model	31/12/2023	16/05/2024	31/05/2024	Dutch	PDF
m120-f-p	31/12/2023	16/05/2024	31/05/2024	Dutch	PDF
Full model	31/12/2022	19/05/2023	16/06/2023	Dutch	PDF
m120-f-p	31/12/2022	19/05/2023	16/06/2023	Dutch	PDF
Full model	31/12/2021	25/05/2022	16/06/2022	Dutch	PDF
m120-f-pCorrection	31/12/2021	25/05/2022	14/06/2023	Dutch	PDF
m120-f-p	31/12/2021	23/05/2022	17/06/2022	Dutch	PDF
Full model	31/12/2020	29/04/2021	21/05/2021	Dutch	PDF
m120-f-p	31/12/2020	29/04/2021	21/05/2021	Dutch	PDF
Full model	31/12/2019	28/05/2020	26/06/2020	Dutch	PDF
m120-f-p	31/12/2019	28/05/2020	29/06/2020	Dutch	PDF
Full model	31/12/2018	25/04/2019	15/05/2019	Dutch	PDF
m120-f-p	31/12/2018	25/04/2019	15/05/2019	Dutch	PDF
Full model	31/12/2017	26/04/2018	15/05/2018	Dutch	PDF
m120-f-p	31/12/2017	26/04/2018	17/05/2018	Dutch	PDF
Full model	31/12/2016	27/04/2017	08/05/2017	Dutch	PDF
m120-f-p	31/12/2016	27/04/2017	08/05/2017	Dutch	PDF
Full model	31/12/2015	28/04/2016	17/05/2016	Dutch	PDF
m120-f-p	31/12/2015	28/04/2016	17/05/2016	Dutch	PDF
Full model	31/12/2014	30/04/2015	26/05/2015	Dutch	PDF

View all 59 filings

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 31/12/2025 · 4 active · 24 ended

Active mandates

Christian Vanderhaeghe

Managing director · since 15 mai 2025 · until 18 mai 2028

Active

Jean-Christophe Smeets

Director · since 15 mai 2025 · until 18 mai 2028

Active

Julien Vanderhaeghe

Director · since 15 mai 2025 · until 18 mai 2028

Active

WHITE ROCKS

Director · since 15 mai 2025 · until 18 mai 2028 · 0792.955.105

Represented by Thomas Vanderhaeghe

Active

Ended mandates

Julien Vanderhaeghe

Director · since 19 mars 2023 · until 28 avril 2025

Ended

WHITE ROCKS

Director · since 19 mars 2023 · until 28 avril 2025 · 0792.955.105

Represented by Thomas Vanderhaeghe

Ended

Christian Vanderhaeghe

Managing director · since 25 mai 2022 · until 15 mai 2025

Ended

Jean-Christophe Smeets

Director · since 25 mai 2022 · until 15 mai 2025

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates14/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Other17/04/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN - ALGEMENE VERGADERING
PDF
Mandates22/07/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/05/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/02/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/08/2020
ONTSLAGEN - BENOEMINGEN
PDF
Other17/07/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN
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 20255,8 M €↑
2024
Annual accounts 20243,7 M €↑
2023
Annual accounts 20233,2 M €↑
2022
Annual accounts 20222,7 M €↓
2021
Annual accounts 20212,8 M €↓
2020
Annual accounts 20205,8 M €↑
2019
Annual accounts 20191,8 M €↑
2018
Annual accounts 2018592,7 k €↓
2017
Annual accounts 20173,2 M €↓
2016
Annual accounts 20164,5 M €↑
2015
Annual accounts 20151,1 M €↑
2014
Annual accounts 20141 M €↓
2013
Annual accounts 20131,1 M €↓
2012
Annual accounts 20122,7 M €↑
2011
Annual accounts 20111,2 M €↓
2010
Annual accounts 20106,4 M €↑
2009
Annual accounts 20091,1 M €↑
2008
Annual accounts 20081 M €
23/04/1992
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

FINNAVAAL

Overview

What does FINNAVAAL 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