ACTIVE

ALPHA

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Financial year 2025 · closed on 31/12/2025

Net result

263,1 k €

+10.9% YoY

Gross margin

1,2 M €

-3.4% YoY

Equity

1,1 M €

+30.9% YoY

Workforce

17,6 ETP

+4.1% YoY

What does ALPHA do?

ALPHA is a Public limited company incorporated in 1993. Its registered office is in Antwerpen. It employs on average 17,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0449.500.473

Incorporation

05/03/1993

Legal form

Public limited company

Registered office

Ekerse Steenweg 6
2180 Antwerpen · FlandreSee on map

Contributed capital

123 946,76 €

Latest accounts

31/12/2025

Average workforce

17,6 ETP

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	1,2 M €	-3.4%	1,3 M €	+9.9%	1,2 M €		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	356,8 k €	-6.1%	380,1 k €	+31.0%	290,1 k €	-34.4%	442,4 k €	-48.7%	863 k €	-6.0%	918,4 k €	+51.0%	608,1 k €	-6.4%	649,8 k €	+19.9%	541,8 k €	-20.5%	681,2 k €	-4.7%	715,1 k €	+5.8%	675,9 k €	-10.3%	753,8 k €	+5.0%	718,2 k €	-3.1%	740,9 k €	-2.5%	759,7 k €	-0.7%	765,4 k €	+17.3%	652,4 k €	+17.2%	556,9 k €	+30.7%	426,1 k €
Operating result	308,6 k €	+3.1%	299,4 k €	+60.0%	187,1 k €	-44.3%	335,7 k €	-56.2%	766,8 k €	-2.9%	789,6 k €	+38.6%	569,5 k €	-6.8%	610,8 k €	+22.6%	498,3 k €	-20.5%	627 k €	-4.8%	658,7 k €	+6.3%	619,4 k €	-13.4%	715,5 k €	+6.1%	674,3 k €	-3.9%	701,8 k €	-0.7%	706,5 k €	-0.6%	711 k €	+18.5%	600,2 k €	+17.5%	511 k €	+29.4%	395 k €
Net result	263,1 k €	+10.9%	237,3 k €	+60.9%	147,5 k €	-39.7%	244,4 k €	-56.8%	566,2 k €	-4.7%	594,3 k €	+51.8%	391,6 k €	-6.9%	420,6 k €	+30.8%	321,6 k €	-28.9%	452,2 k €	-5.2%	476,9 k €	+9.1%	437,3 k €	-11.1%	492 k €	-5.4%	520,2 k €	+0.1%	519,7 k €	-9.3%	572,9 k €	-0.1%	573,4 k €	+26.1%	454,5 k €	+27.3%	357 k €	+32.7%	269,1 k €
Balance sheet
Equity	1,1 M €	+30.9%	850,3 k €	+38.7%	613 k €	+31.7%	465,6 k €	-64.8%	1,3 M €	+75.0%	754,9 k €	-65.1%	2,2 M €	+22.1%	1,8 M €	-47.2%	3,3 M €	+10.6%	3 M €	+17.6%	2,6 M €	+22.7%	2,1 M €	+26.3%	1,7 M €	+42.1%	1,2 M €	-29.1%	1,6 M €	+46.0%	1,1 M €	-46.4%	2,1 M €	+3.6%	2 M €	+28.8%	1,6 M €	+29.2%	1,2 M €
Total assets	2 M €	+2.8%	2 M €	-5.0%	2,1 M €	-9.3%	2,3 M €	+1.3%	2,3 M €	+13.4%	2 M €	-36.4%	3,1 M €	+23.2%	2,5 M €	-43.8%	4,5 M €	+11.3%	4,1 M €	+11.2%	3,6 M €	+9.9%	3,3 M €	+9.3%	3 M €	+46.4%	2,1 M €	-26.2%	2,8 M €	+1.1%	2,8 M €	-20.0%	3,5 M €	+23.3%	2,8 M €	+40.9%	2 M €	+20.5%	1,7 M €
Cash	63,3 k €	-29.0%	89,2 k €	+5.7%	84,4 k €	+7.9%	78,2 k €	+5.2%	74,3 k €	-20.6%	93,7 k €	+9.9%	85,2 k €	-15.2%	100,5 k €	-13.5%	116,2 k €	-5.8%	123,3 k €	+59.9%	77,1 k €	-13.9%	89,6 k €	+74.7%	51,3 k €	-31.8%	75,2 k €	-60.9%	192,3 k €	-19.1%	237,8 k €	+168%	88,8 k €	+88.1%	47,2 k €	+1.3%	46,6 k €	-75.1%	186,8 k €
Debts	878,9 k €	-19.1%	1,1 M €	-23.7%	1,4 M €	-20.2%	1,8 M €	+99.6%	893,8 k €	-17.4%	1,1 M €	+33.1%	813,1 k €	+26.3%	644 k €	-38.7%	1,1 M €	+13.1%	929,6 k €	-6.3%	992,2 k €	-15.6%	1,2 M €	-12.8%	1,3 M €	+51.7%	888,9 k €	-22.1%	1,1 M €	-30.0%	1,6 M €	+20.5%	1,4 M €	+74.9%	773,5 k €	+88.0%	411,5 k €	-4.8%	432,1 k €
Other
Workforce	17,6 ETP	+4.1%	16,9 ETP	-8.2%	18,4 ETP	-7.5%	19,9 ETP	+3.1%	19,3 ETP	+5.5%	18,3 ETP	-4.2%	19,1 ETP	-5.4%	20,2 ETP	-1.5%	20,5 ETP	-1.9%	20,9 ETP	-9.9%	23,2 ETP	-2.1%	23,7 ETP	+0.4%	23,6 ETP	0.0%	23,6 ETP	+1.3%	23,3 ETP	+3.1%	22,6 ETP	+2.3%	22,1 ETP	+5.7%	20,9 ETP	+8.9%	19,2 ETP	-7.2%	20,7 ETP

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 · 13 ended

Active mandates

C.M.F. LIEKENS

Managing director · since 02 juillet 2020 · until 18 juin 2026

Active

E.A.M. VAN OSTA

Managing director · since 02 juillet 2020 · until 18 juin 2026

Active

Ended mandates

C.M.F. LIEKENS

Managing director · since 02 juillet 2020 · until 17 juin 2026

Ended

E.A.M. VAN OSTA

Director · since 02 juillet 2020 · until 17 juin 2026

Ended

C.M.F. LIEKENS

Managing director · since 18 juin 2014 · until 17 juin 2020

Ended

C.M.F. LIEKENS

Managing director · since 18 juin 2014 · until 02 juillet 2020

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged 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	16/07/2026	16/07/2025	01/07/2024	30/06/2023	04/08/2022	28/07/2021
General meeting	18/06/2026	19/06/2025	20/06/2024	15/06/2023	16/06/2022	16/06/2021
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
Abridged model	31/12/2025	18/06/2026	16/07/2026	Dutch	PDF
Abridged model	31/12/2024	19/06/2025	16/07/2025	Dutch	PDF
Abridged model	31/12/2023	20/06/2024	01/07/2024	Dutch	PDF
Full model	31/12/2022	15/06/2023	30/06/2023	Dutch	PDF
Full model	31/12/2021	16/06/2022	04/08/2022	Dutch	PDF
Full model	31/12/2020	16/06/2021	28/07/2021	Dutch	PDF
Full model	31/12/2019	02/07/2020	29/07/2020	Dutch	PDF
Full model	31/12/2018	19/06/2019	22/07/2019	Dutch	PDF
Full model	31/12/2017	20/06/2018	25/07/2018	Dutch	PDF
Full model	31/12/2016	21/06/2017	27/07/2017	Dutch	PDF
Full model	31/12/2015	15/06/2016	07/07/2016	Dutch	PDF
Full model	31/12/2014	17/06/2015	13/07/2015	Dutch	PDF
Full model	31/12/2013	18/06/2014	14/07/2014	Dutch	PDF
Full model	31/12/2012	19/06/2013	02/07/2013	Dutch	PDF
Full model	31/12/2011	20/06/2012	17/07/2012	Dutch	PDF
Full model	31/12/2010	15/06/2011	11/07/2011	Dutch	PDF
Full model	31/12/2009	16/06/2010	08/07/2010	Dutch	PDF
Full model	31/12/2008	17/06/2009	10/07/2009	Dutch	PDF
Full model	31/12/2007	18/06/2008	16/07/2008	Dutch	PDF
Full model	31/12/2006	20/06/2007	12/07/2007	Dutch	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 · 13 ended

Active mandates

C.M.F. LIEKENS

Managing director · since 02 juillet 2020 · until 18 juin 2026

Active

E.A.M. VAN OSTA

Managing director · since 02 juillet 2020 · until 18 juin 2026

Active

Ended mandates

C.M.F. LIEKENS

Managing director · since 02 juillet 2020 · until 17 juin 2026

Ended

E.A.M. VAN OSTA

Director · since 02 juillet 2020 · until 17 juin 2026

Ended

C.M.F. LIEKENS

Managing director · since 18 juin 2014 · until 17 juin 2020

Ended

C.M.F. LIEKENS

Managing director · since 18 juin 2014 · until 02 juillet 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates13/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/09/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/01/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/10/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/09/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/10/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/09/2011
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/08/2010
ONTSLAGEN - BENOEMINGEN
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 2025263,1 k €↑
2024
Annual accounts 2024237,3 k €↑
2023
Annual accounts 2023147,5 k €↓
2022
Annual accounts 2022244,4 k €↓
2021
Annual accounts 2021566,2 k €↓
2020
Annual accounts 2020594,3 k €↑
2019
Annual accounts 2019391,6 k €↓
2018
Annual accounts 2018420,6 k €↑
2017
Annual accounts 2017321,6 k €↓
2016
Annual accounts 2016452,2 k €↓
2015
Annual accounts 2015476,9 k €↑
2014
Annual accounts 2014437,3 k €↓
2013
Annual accounts 2013492 k €↓
2012
Annual accounts 2012520,2 k €↑
2011
Annual accounts 2011519,7 k €↓
2010
Annual accounts 2010572,9 k €↓
2009
Annual accounts 2009573,4 k €↑
2008
Annual accounts 2008454,5 k €↑
2007
Annual accounts 2007357 k €↑
2006
Annual accounts 2006269,1 k €
05/03/1993
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

ALPHA

Overview

What does ALPHA 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