ACTIVE

CHALLENGE

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Financial year 2025 · closed on 30/06/2025

Net result

81,6 k €

+160.4% YoY

Gross margin

543,4 k €

+12.7% YoY

Equity

936,8 k €

-8.6% YoY

What does CHALLENGE do?

CHALLENGE is a Public limited company incorporated in 1993. Its main activity is: Other professional, scientific and technical activities. Its registered office is in Bierbeek.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0450.024.075

Incorporation

03/05/1993

Legal form

Public limited company

Registered office

Nieuwstraat 28
3360 Bierbeek · FlandreSee on map

Contributed capital

61 500,00 €

Latest accounts

30/06/2025

Activities (NACE)

74875Other professional, scientific and technical activities· main 82990Other business support service activities n.e.c.82990Other business support service activities n.e.c.

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	543,4 k €	+12.7%	482,3 k €	-10.9%	541,5 k €	-37.4%	865,1 k €	+81.5%	476,5 k €	-4.1%	496,9 k €	-24.3%	656,4 k €	+56.0%	420,8 k €	-44.3%	755,7 k €	+87.1%	403,8 k €	+19.2%	338,9 k €	+7.8%	314,5 k €	-7.9%	341,4 k €	+11.3%	306,7 k €	-58.7%	742,2 k €	+264%	203,8 k €	+10.3%	184,8 k €	-25.4%	247,7 k €	-14.6%	290,1 k €
EBITDA	494,8 k €	+18.9%	416,3 k €	-16.8%	500,6 k €	-35.9%	781,4 k €	+79.9%	434,4 k €	-0.0%	434,5 k €	-25.5%	583,5 k €	+49.4%	390,6 k €	-45.2%	712,5 k €	+96.2%	363,2 k €	+15.6%	314,3 k €	+6.9%	294,1 k €	-7.7%	318,7 k €	+19.2%	267,3 k €	-61.0%	684,9 k €	+312%	166,2 k €	+5.6%	157,4 k €	-28.2%	219,2 k €	-17.3%	264,9 k €
Operating result	176,6 k €	+75.1%	100,8 k €	-52.0%	210,2 k €	-58.4%	505,3 k €	+266%	138,2 k €	-14.9%	162,4 k €	-22.8%	210,4 k €	+31.6%	159,9 k €	-60.0%	399,6 k €	+313%	96,7 k €	+51.3%	64 k €	+175%	23,2 k €	-70.9%	79,8 k €	+60.8%	49,6 k €	-89.8%	488,1 k €	+1110%	40,4 k €	-5.6%	42,8 k €	-52.7%	90,4 k €	-31.1%	131,3 k €
Net result	81,6 k €	+160%	31,3 k €	-80.8%	162,9 k €	-55.6%	367 k €	+228%	112 k €	-12.1%	127,5 k €	-12.7%	145,9 k €	+18.3%	123,3 k €	-46.7%	231,3 k €	+358%	50,5 k €	+335%	11,6 k €	+125%	-45,8 k €	-517%	11 k €	+140%	-27,2 k €	-111%	253 k €	+1399%	-19,5 k €	-106%	315,3 k €	+17654%	1,8 k €	-92.5%	23,8 k €
Balance sheet
Equity	936,8 k €	-8.6%	1 M €	-3.5%	1,1 M €	-5.5%	1,1 M €	+24.9%	899,9 k €	-3.0%	927,9 k €	-2.4%	950,5 k €	+6.3%	894,5 k €	-2.9%	921,2 k €	+33.5%	689,9 k €	+7.9%	639,3 k €	+1.8%	627,7 k €	-6.8%	673,5 k €	+1.7%	662,5 k €	-3.9%	689,7 k €	+51.0%	456,7 k €	-0.9%	460,8 k €	+142%	190,5 k €	+0.9%	188,8 k €
Total assets	5,8 M €	-2.9%	6 M €	+7.3%	5,6 M €	+17.1%	4,8 M €	+15.9%	4,1 M €	+28.8%	3,2 M €	-8.9%	3,5 M €	+8.7%	3,2 M €	-2.2%	3,3 M €	+5.5%	3,1 M €	-7.6%	3,4 M €	-2.9%	3,5 M €	-1.9%	3,6 M €	-4.1%	3,7 M €	-4.0%	3,9 M €	+66.4%	2,3 M €	-1.7%	2,4 M €	+14.1%	2,1 M €	-6.0%	2,2 M €
Cash	229,3 k €	+22.9%	186,6 k €	-47.0%	352,4 k €	+11.1%	317,3 k €	+16.2%	273,2 k €	-8.6%	298,9 k €	-24.6%	396,5 k €	-44.8%	718,3 k €	+84.1%	390,1 k €	+24.6%	313,2 k €	-35.9%	488,6 k €	+277%	129,6 k €	-71.8%	460,4 k €	-34.7%	705,4 k €	-28.3%	984,4 k €	+27.8%	770,5 k €	-14.6%	901,9 k €	+148%	364,4 k €	-8.2%	396,8 k €
Debts	4,7 M €	-1.0%	4,7 M €	+11.5%	4,2 M €	+27.6%	3,3 M €	+12.7%	3 M €	+49.8%	2 M €	-11.7%	2,2 M €	+10.5%	2 M €	-1.1%	2 M €	-7.5%	2,2 M €	-11.7%	2,5 M €	-3.6%	2,6 M €	-0.1%	2,6 M €	-5.4%	2,7 M €	-3.9%	2,9 M €	+67.2%	1,7 M €	-1.3%	1,7 M €	-8.3%	1,9 M €	-6.6%	2 M €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		0,7 ETP	+75.0%	0,4 ETP		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 2 active · 6 ended

Active mandates

Benny Mortier

Director

Active

MILAN INVEST

Managing director · 0478.616.608

Represented by Peter Van Hoeyveld

Active

Ended mandates

Albert Vanhoeyveld

Director

Ended

Li LI

Director

Ended

MILAN INVEST

Director · 0478.616.608

Represented by Peter Van Hoeyveld

Ended

MILAN INVEST

Managing director · 0478.616.608

Ended

At this address

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SIMILON - DELARUELLE CONSULTING● Active	0459.293.713
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V.R.S. ZAKENKANTOOR● Active	0433.844.277

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/12/2025	28/01/2025	24/11/2023	23/11/2022	21/01/2022	25/01/2021
General meeting	29/12/2025	30/12/2024	15/11/2023	17/11/2022	24/12/2021	04/01/2021
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	30/06/2025	29/12/2025	31/12/2025	Dutch	PDF
Abridged model	30/06/2024	30/12/2024	28/01/2025	Dutch	PDF
Abridged model	30/06/2023	15/11/2023	24/11/2023	Dutch	PDF
Abridged model	30/06/2022	17/11/2022	23/11/2022	Dutch	PDF
Abridged model	30/06/2021	24/12/2021	21/01/2022	Dutch	PDF
Abridged model	30/06/2020	04/01/2021	25/01/2021	Dutch	PDF
Abridged model	30/06/2019	31/12/2019	31/01/2020	Dutch	PDF
Micro model	30/06/2018	31/12/2018	23/01/2019	Dutch	PDF
Micro model	30/06/2017	29/12/2017	12/01/2018	Dutch	PDF
Abridged model	30/06/2016	27/12/2016	09/01/2017	Dutch	PDF
Abridged model	30/06/2015	15/01/2016	08/02/2016	Dutch	PDF
Abridged model	30/06/2014	30/12/2014	28/01/2015	Dutch	PDF
Abridged model	30/06/2013	18/11/2013	29/01/2014	Dutch	PDF
Abridged model	30/06/2012	31/12/2012	29/01/2013	Dutch	PDF
Abridged model	30/06/2011	26/01/2012	03/02/2012	Dutch	PDF
Abridged model	30/06/2010	10/11/2010	03/01/2011	Dutch	PDF
Abridged model	30/06/2009	28/12/2009	16/02/2010	Dutch	PDF
Abridged model	30/06/2008	17/11/2008	13/01/2009	Dutch	PDF
Abridged model	30/06/2007	19/11/2007	21/01/2008	Dutch	PDF
Abridged model	30/06/2006	20/11/2006	09/01/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 30/06/2025 · 2 active · 6 ended

Active mandates

Benny Mortier

Director

Active

MILAN INVEST

Managing director · 0478.616.608

Represented by Peter Van Hoeyveld

Active

Ended mandates

Albert Vanhoeyveld

Director

Ended

Li LI

Director

Ended

MILAN INVEST

Director · 0478.616.608

Represented by Peter Van Hoeyveld

Ended

MILAN INVEST

Managing director · 0478.616.608

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Registered office30/05/2025
MAATSCHAPPELIJKE ZETEL
PDF
Restructuring20/11/2023
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring26/09/2023
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates03/02/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates13/06/2017
ONTSLAGEN - BENOEMINGEN
PDF
Registered office16/08/2016
MAATSCHAPPELIJKE ZETEL - DIVERSEN
PDF
Registered office26/07/2016
MAATSCHAPPELIJKE ZETEL
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 202581,6 k €↑
2024
Annual accounts 202431,3 k €↓
2023
Annual accounts 2023162,9 k €↓
2022
Annual accounts 2022367 k €↑
2021
Annual accounts 2021112 k €↓
2020
Annual accounts 2020127,5 k €↓
2019
Annual accounts 2019145,9 k €↑
2018
Annual accounts 2018123,3 k €↓
2017
Annual accounts 2017231,3 k €↑
2016
Annual accounts 201650,5 k €↑
2015
Annual accounts 201511,6 k €↑
2014
Annual accounts 2014-45,8 k €↓
2013
Annual accounts 201311 k €↑
2012
Annual accounts 2012-27,2 k €↓
2011
Annual accounts 2011253 k €↑
2010
Annual accounts 2010-19,5 k €↓
2009
Annual accounts 2009315,3 k €↑
2008
Annual accounts 20081,8 k €↓
2007
Annual accounts 200723,8 k €
03/05/1993
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

CHALLENGE

Overview

What does CHALLENGE do?

Trend over 19 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