ACTIVE

BALBAS

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Financial year 2025 · closed on 31/12/2025

Net result

311,2 k €

+14.6% YoY

Gross margin

685,1 k €

+9.8% YoY

Equity

1,7 M €

+20.5% YoY

What does BALBAS do?

BALBAS is a Public limited company incorporated in 1992. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0447.532.660

Incorporation

03/06/1992

Legal form

Public limited company

Registered office

Rue des Sablons 9
1000 Bruxelles · BruxellesSee on map

Contributed capital

63 000,00 €

Latest accounts

31/12/2025

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	685,1 k €	+9.8%	624 k €	+22.4%	509,7 k €	+3.7%	491,3 k €	+82.6%	269,1 k €	-10.2%	299,7 k €	+40.4%	213,4 k €	+4.2%	204,7 k €	-0.1%	204,9 k €	+0.4%	204,1 k €	+10.6%	184,5 k €	-8.9%	202,7 k €	-3.3%	209,5 k €	+3.2%	202,9 k €	+4.3%	194,7 k €	+27.9%	152,2 k €	-11.2%	171,4 k €	-3.2%	177 k €	+59.9%	110,7 k €	+55.6%	71,2 k €
EBITDA	640,4 k €	+10.3%	580,8 k €	+33.9%	433,6 k €	-3.2%	448,1 k €	+630%	61,4 k €	-59.6%	152 k €	-21.6%	194 k €	+5.0%	184,8 k €	-0.8%	186,4 k €	+0.8%	184,9 k €	+10.0%	168 k €	-8.2%	183 k €	-5.0%	192,6 k €	+4.0%	185,1 k €	+5.0%	176,3 k €	+33.3%	132,2 k €	-13.8%	153,5 k €	-3.9%	159,8 k €	+64.9%	96,9 k €	+83.7%	52,7 k €
Operating result	438,9 k €	+14.5%	383,2 k €	+53.6%	249,4 k €	+5.9%	235,6 k €	+305%	-115,1 k €	-1347%	9,2 k €	-87.6%	74,3 k €	-28.1%	103,5 k €	-17.6%	125,5 k €	+0.7%	124,6 k €	+7.3%	116,1 k €	-9.9%	128,9 k €	-12.2%	146,7 k €	+5.7%	138,8 k €	+6.6%	130,3 k €	+47.5%	88,3 k €	-22.0%	113,2 k €	-6.6%	121,2 k €	+93.5%	62,6 k €	+225%	19,2 k €
Net result	311,2 k €	+14.6%	271,6 k €	+58.4%	171,5 k €	-11.3%	193,2 k €	+264%	-118,2 k €	-2743%	-4,2 k €	-113%	31,2 k €	-45.5%	57,2 k €	-14.6%	67 k €	+20.1%	55,8 k €	+4.1%	53,6 k €	-22.3%	68,9 k €	-11.4%	77,7 k €	+16.7%	66,6 k €	+13.6%	58,6 k €	+103%	28,9 k €	-39.3%	47,6 k €	+1749%	-2,9 k €	-113%	23,1 k €	-79.2%	110,7 k €
Balance sheet
Equity	1,7 M €	+20.5%	1,4 M €	+21.5%	1,2 M €	+14.8%	1 M €	+20.5%	848 k €	-14.0%	986 k €	+21.5%	811,8 k €	+4.0%	780,6 k €	+7.9%	723,4 k €	+10.2%	656,4 k €	+9.3%	600,6 k €	+9.8%	547,1 k €	+14.4%	478,1 k €	+19.4%	400,4 k €	+20.0%	333,8 k €	+21.3%	275,2 k €	+11.7%	246,3 k €	+23.9%	198,7 k €	-1.4%	201,6 k €	+12.9%	178,5 k €
Total assets	4,1 M €	+2.5%	4 M €	-7.9%	4,4 M €	-8.4%	4,8 M €	-1.9%	4,9 M €	+68.6%	2,9 M €	+44.3%	2 M €	+54.4%	1,3 M €	-0.3%	1,3 M €	-1.4%	1,3 M €	+3.0%	1,3 M €	-5.0%	1,4 M €	+0.7%	1,3 M €	-0.6%	1,3 M €	-1.1%	1,4 M €	+2.2%	1,3 M €	-4.0%	1,4 M €	-0.5%	1,4 M €	+45.9%	956 k €	-6.9%	1 M €
Cash	610,7 k €	+65.3%	369,4 k €	-52.9%	783,7 k €	-28.2%	1,1 M €	+12.5%	970,3 k €	+157%	377,4 k €	+36.6%	276,2 k €	+1032%	24,4 k €	-84.8%	160,6 k €	+19.1%	134,8 k €	+65.2%	81,6 k €	+1.6%	80,3 k €	-6.9%	86,3 k €	+70.4%	50,6 k €	-4.1%	52,8 k €	+1487%	3,3 k €	-86.2%	24,1 k €	+3.9%	23,2 k €	-33.7%	34,9 k €	+888%	3,5 k €
Debts	2,4 M €	-7.4%	2,6 M €	-18.8%	3,2 M €	-14.8%	3,8 M €	-6.6%	4 M €	+111%	1,9 M €	+59.9%	1,2 M €	+130%	517,8 k €	-10.6%	579,5 k €	-12.5%	662,3 k €	-2.6%	679,9 k €	-15.1%	800,5 k €	-6.9%	859,4 k €	-9.0%	944,8 k €	-7.7%	1 M €	-2.9%	1,1 M €	-7.0%	1,1 M €	-5.3%	1,2 M €	+58.5%	754,4 k €	-9.8%	835,9 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 · 2 active · 11 ended

Active mandates

David Sierzant Acitores

Mandate

Active

Maria- Luisa ACITORES BALBAS

Mandate

Active

Ended mandates

David SIERZANT ACITORES

Mandate · since 25 juin 2013 · until 25 juin 2019

Ended

Liza ACITORES BALBAS

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

Ended

Liza ACITORES BALBAS

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

Ended

David Acitores - Balbas

Mandate

Ended

At this address

Other companies at this address

Company	CBE no.
ACITORES BALBAS● Active	1032.108.704
AREA Interprofessionele architektenvennootschap● Liquidation	0441.184.308
ARTI, ARCHITECTENVENNOOTSCHAP● Liquidation	0435.708.459
Immobilière Deprez● Active	0403.345.103
IMMO CENTRUM NIEUWSTRAAT● Active	0860.447.012
IMOFRA● Active	0443.705.516
SONTAG● Active	0415.721.115
TVO CONSEIL● Active	0767.757.077

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	19/06/2026	04/06/2025	31/05/2024	06/06/2023	01/08/2022	18/08/2021
General meeting	27/05/2026	28/05/2025	29/05/2024	31/05/2023	25/05/2022	26/05/2021
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	27/05/2026	19/06/2026	French	PDF
Micro model	31/12/2024	28/05/2025	04/06/2025	French	PDF
Micro model	31/12/2023	29/05/2024	31/05/2024	French	PDF
Micro model	31/12/2022	31/05/2023	06/06/2023	French	PDF
Micro model	31/12/2021	25/05/2022	01/08/2022	French	PDF
Micro model	31/12/2020	26/05/2021	18/08/2021	French	PDF
Micro model	31/12/2019	22/05/2020	31/08/2020	French	PDF
Micro model	31/12/2018	22/05/2019	31/08/2019	French	PDF
Micro model	31/12/2017	23/05/2018	27/07/2018	French	PDF
Micro model	31/12/2016	24/05/2017	25/07/2017	French	PDF
Abridged model	31/12/2015	25/05/2016	25/08/2016	French	PDF
Abridged model	31/12/2014	27/05/2015	09/07/2015	French	PDF
Abridged model	31/12/2013	21/05/2014	05/08/2014	French	PDF
Abridged model	31/12/2012	22/05/2013	25/07/2013	French	PDF
Abridged model	31/12/2011	23/05/2012	19/07/2012	French	PDF
Abridged model	31/12/2010	25/05/2011	26/07/2011	French	PDF
Abridged model	31/12/2009	26/05/2010	24/08/2010	French	PDF
Abridged model	31/12/2008	27/05/2009	24/07/2009	French	PDF
Abridged model	31/12/2007	21/05/2008	18/08/2008	French	PDF
Abridged model	31/12/2006	23/05/2007	09/08/2007	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 · 2 active · 11 ended

Active mandates

David Sierzant Acitores

Mandate

Active

Maria- Luisa ACITORES BALBAS

Mandate

Active

Ended mandates

David SIERZANT ACITORES

Mandate · since 25 juin 2013 · until 25 juin 2019

Ended

Liza ACITORES BALBAS

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

Ended

Liza ACITORES BALBAS

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

Ended

David Acitores - Balbas

Mandate

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office03/10/2025
SIEGE SOCIAL
PDF
Mandates24/06/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates23/10/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates25/03/2019
DEMISSIONS, NOMINATIONS
PDF
Registered office10/12/2015
SIEGE SOCIAL
PDF
Mandates05/07/2013
DEMISSIONS, NOMINATIONS
PDF
Registered office07/09/2011
SIEGE SOCIAL
PDF
Mandates24/08/2007
DEMISSIONS, NOMINATIONS
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 2025311,2 k €↑
2024
Annual accounts 2024271,6 k €↑
2023
Annual accounts 2023171,5 k €↓
2022
Annual accounts 2022193,2 k €↑
2021
Annual accounts 2021-118,2 k €↓
2020
Annual accounts 2020-4,2 k €↓
2019
Annual accounts 201931,2 k €↓
2018
Annual accounts 201857,2 k €↓
2017
Annual accounts 201767 k €↑
2016
Annual accounts 201655,8 k €↑
2015
Annual accounts 201553,6 k €↓
2014
Annual accounts 201468,9 k €↓
2013
Annual accounts 201377,7 k €↑
2012
Annual accounts 201266,6 k €↑
2011
Annual accounts 201158,6 k €↑
2010
Annual accounts 201028,9 k €↓
2009
Annual accounts 200947,6 k €↑
2008
Annual accounts 2008-2,9 k €↓
2007
Annual accounts 200723,1 k €↓
2006
Annual accounts 2006110,7 k €
03/06/1992
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

BALBAS

Overview

What does BALBAS do?

Trend over 20 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