ACTIVE

RHEA SYSTEM

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Financial year 2021 · Closed on 31/12/2021

Net result2,2 M €+158,4 %over 1 year
Revenue47,1 M €+17,7 %over 1 year
Equity4,7 M €+54,1 %over 1 year
Workforce197,5 ETP+1,2 %over 1 year

Identity

Source · BCE/KBO

RHEA SYSTEM is a Public limited company incorporated in 1992. Its registered office is in Waterloo. It employs on average 197,5 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0447.709.339
Incorporation
24/06/1992
Legal form
Public limited company
Registered office
Chaussée de Tervuren 60
1410 Waterloo · WallonieSee on map
Contributed capital
524 000,00 €
Latest accounts
31/12/2021
Average workforce
197,5 ETP
Joint committees (2)
  • 100
  • 218
Signals
ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 25 filings

Trend over 10 financial years

20212020201920182017
Income statement
Revenue47,1 M €40 M €36,9 M €51 M €37,8 M €
EBITDA2,7 M €2,3 M €858,5 k €2,2 M €1,5 M €
Operating result2,1 M €1,8 M €424,4 k €1,9 M €1,4 M €
Net result2,2 M €867 k €24,3 k €1,4 M €937,3 k €
Balance sheet
Equity4,7 M €3 M €2,8 M €3,3 M €2,5 M €
Total assets33,1 M €31,8 M €27,9 M €23,2 M €35,8 M €
Cash2,9 M €2,6 M €293,1 k €1,3 M €2,4 M €
Debts28,4 M €28,8 M €25,1 M €19,9 M €33,3 M €
Other
Workforce197,5 ETP195,1 ETP158,7 ETP149,9 ETP177,7 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2021

4 active · 12 ended

Active mandates

Arne MATTHYSSEN

Director · since 28 mai 2021 · until 30 mai 2025

Active
Emmanuel ADANT

Director · since 28 mai 2021 · until 30 mai 2025

Active
André SINCENNES

Managing director · since 31 mai 2019 · until 30 mai 2025

Active
Michel BOSCO

Director

Active

Ended mandates

Arne MATTHYSSEN

Director · since 13 juin 2016 · until 28 mai 2021

Ended
Emmanuel ADANT

Director · since 30 octobre 2015 · until 28 mai 2021

Ended
Gilles GRENIER

Director · since 30 octobre 2015 · until 28 mai 2021

Ended
Manfred WARHAUT

Director · since 30 octobre 2015 · until 17 mars 2016

Ended

Other companies at this address

Chaussée de Tervuren 60 1410 Waterloo
CompanyCBE no.
Association des copropriétaires de la résidence sise à Waterloo à l'angle de l'Avenue Bel Air et de la chaussée de Tervuren, 60● Active
0548.812.340
DCR INVEST● Active
0428.703.475
DEBROUX et ASSOCIES W● Active
0817.646.850
I.D.C. MANAGEMENT● Active
0466.558.914
MONDAY● Active
0479.794.662
SEIFERT EN CO● Active
0447.379.836
VERALYN● Active
0424.539.405

Full financial information

Source · NBB
202420232022202120202019
Type of accountFull modelFull modelConsolidated accountsFull modelConsolidated accountsConsolidated accounts
Start of the financial year01/01/202401/01/202301/01/202201/01/202101/01/202001/01/2019
Closing of the financial year31/12/202431/12/202331/12/202231/12/202131/12/202031/12/2019
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date03/11/202524/07/202428/07/202312/07/202231/08/202108/10/2020
General meeting31/10/202530/06/202428/07/202317/06/202223/08/202108/10/2020
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 25 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202431/10/202503/11/2025FrenchPDF
Full model31/12/202330/06/202424/07/2024FrenchPDF
Full model31/12/202222/06/202329/06/2023FrenchPDF
Consolidated accounts31/12/202228/07/202328/07/2023FrenchPDF
Full model31/12/202117/06/202212/07/2022FrenchPDF
Consolidated accounts31/12/202112/08/202225/08/2022FrenchPDF
Full model31/12/202028/05/202117/06/2021FrenchPDF
Consolidated accounts31/12/202023/08/202131/08/2021FrenchPDF
Full model31/12/201930/06/202014/07/2020FrenchPDF
Consolidated accounts31/12/201908/10/202008/10/2020FrenchPDF
Full model31/12/201830/06/201912/07/2019FrenchPDF
Consolidated accounts31/12/201806/11/201914/11/2019FrenchPDF
Full model31/12/201730/06/201818/07/2018FrenchPDF
Full model31/12/201630/06/201712/07/2017FrenchPDF
Full model31/12/201520/06/201605/07/2016FrenchPDF
Full model31/12/201429/06/201522/07/2015FrenchPDF
Full model31/12/201324/10/201404/11/2014FrenchPDF
Full model31/12/201227/06/201308/07/2013FrenchPDF
Full model31/12/201106/07/201231/08/2012FrenchPDF
Full model31/12/201029/08/201124/11/2011FrenchPDF
Full model31/12/200930/06/201029/07/2010FrenchPDF
Full modelCorrection31/12/200829/05/200914/09/2009FrenchPDF
Full model31/12/200829/05/200924/06/2009FrenchPDF
Full model31/12/200724/07/200807/08/2008FrenchPDF
Full model31/12/200629/06/200727/11/2007FrenchPDF

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.

Board of directors

Source · NBB, accounts to 31/12/2021

4 active · 12 ended

Active mandates

Arne MATTHYSSEN

Director · since 28 mai 2021 · until 30 mai 2025

Active
Emmanuel ADANT

Director · since 28 mai 2021 · until 30 mai 2025

Active
André SINCENNES

Managing director · since 31 mai 2019 · until 30 mai 2025

Active
Michel BOSCO

Director

Active

Ended mandates

Arne MATTHYSSEN

Director · since 13 juin 2016 · until 28 mai 2021

Ended
Emmanuel ADANT

Director · since 30 octobre 2015 · until 28 mai 2021

Ended
Gilles GRENIER

Director · since 30 octobre 2015 · until 28 mai 2021

Ended
Manfred WARHAUT

Director · since 30 octobre 2015 · until 17 mars 2016

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Registered office02/01/2026
    SIEGE SOCIAL
    PDF
  • Mandates13/05/2025
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates25/03/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Capital / shares30/01/2025
    CAPITAL, ACTIONS
    PDF
  • Restructuring22/05/2024
    CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Mandates17/04/2024
    SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
    PDF
  • Restructuring21/02/2024
    RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Mandates13/10/2022
    DEMISSIONS, NOMINATIONS
    PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2021
    Annual accounts 20212,2 M €↑
  2. 2020
    Annual accounts 2020867 k €↑
  3. 2019
    Annual accounts 201924,3 k €↓
  4. 2018
    Annual accounts 20181,4 M €↑
  5. 2017
    Annual accounts 2017937,3 k €↑
  6. 2016
    Annual accounts 2016809,3 k €↑
  7. 2015
    Annual accounts 2015446,9 k €↑
  8. 2014
    Annual accounts 20145,2 k €↓
  9. 2013
    Annual accounts 2013386,2 k €↑
  10. 2012
    Annual accounts 201280,1 k €
  11. 24/06/1992
    IncorporationPublic limited company