ACTIVE

TUNSTALL

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Financial year 2025 · closed on 30/09/2025

Net result

-36,3 k €

-157.6% YoY

Revenue

1,8 M €

+2.8% YoY

Equity

2 M €

-1.8% YoY

Workforce

1,0 ETP

0.0% YoY

What does TUNSTALL do?

TUNSTALL is a Public limited company incorporated in 1993. Its registered office is in Ganshoren. It employs on average 1,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0450.915.782

Incorporation

17/09/1993

Legal form

Public limited company

Registered office

Avenue de Rusatira 3
1083 Ganshoren · BruxellesSee on map

Contributed capital

180 000,01 €

Latest accounts

30/09/2025

Average workforce

1,0 ETP

Joint committees (2)

Signals

Solid equityLow riskGood liquidityHealthy social debtsHigh revenue

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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
Revenue	1,8 M €	+2.8%	1,8 M €	+47.1%	1,2 M €	-36.3%	1,9 M €	-34.0%	2,9 M €	+66.6%	1,7 M €	-27.1%	2,4 M €	-25.2%	3,2 M €	-3.4%	3,3 M €	+4.9%	3,1 M €	+5.3%	3 M €	+1.4%	2,9 M €	+30.7%	2,3 M €	+2.5%	2,2 M €	+19.2%	1,8 M €	+1.2%	1,8 M €	+72.4%	1,1 M €	-6.2%	1,1 M €	-0.9%	1,1 M €
EBITDA	-65,5 k €	-208%	60,8 k €	-57.8%	144 k €	-48.8%	281,4 k €	+32.5%	212,4 k €	+126%	93,9 k €	-30.2%	134,4 k €	+39.1%	96,6 k €	-41.9%	166,3 k €	-3.4%	172,1 k €	+6.2%	162,1 k €	-10.8%	181,8 k €	-6.6%	194,6 k €	+4.9%	185,6 k €	-53.8%	401,9 k €	-7.3%	433,6 k €	+291%	111 k €	-42.6%	193,4 k €	+80.2%	107,4 k €
Operating result	-66,2 k €	-211%	59,6 k €	-58.3%	142,8 k €	-49.0%	280,1 k €	+32.5%	211,4 k €	+133%	90,7 k €	-30.7%	130,9 k €	+41.2%	92,7 k €	-43.4%	163,8 k €	-3.2%	169,2 k €	-4.6%	177,3 k €	-1.4%	179,8 k €	-6.9%	193 k €	+4.5%	184,7 k €	-53.5%	397,6 k €	-5.8%	422,3 k €	+324%	99,7 k €	-45.0%	181,3 k €	+25.6%	144,4 k €
Net result	-36,3 k €	-158%	63 k €	-48.8%	123,1 k €	-45.3%	224,8 k €	+34.4%	167,2 k €	+108%	80,5 k €	-12.8%	92,3 k €	+52.4%	60,5 k €	-40.3%	101,3 k €	-3.0%	104,5 k €	-15.9%	124,2 k €	+6.7%	116,4 k €	+1.9%	114,2 k €	+5.7%	108,1 k €	-57.6%	254,7 k €	-4.5%	266,8 k €	+292%	68,2 k €	-39.6%	112,9 k €	+19.9%	94,1 k €
Balance sheet
Equity	2 M €	-1.8%	2 M €	+3.2%	2 M €	+6.7%	1,8 M €	+13.9%	1,6 M €	+11.5%	1,5 M €	+5.9%	1,4 M €	+7.2%	1,3 M €	+5.0%	1,2 M €	+9.1%	1,1 M €	+10.3%	1 M €	+14.0%	889,5 k €	+15.1%	773,1 k €	+17.3%	658,9 k €	+19.6%	550,8 k €	+86.0%	296,1 k €	+29.2%	229,2 k €	-26.3%	311,1 k €	+56.9%	198,2 k €
Total assets	2,1 M €	-14.0%	2,4 M €	+7.0%	2,3 M €	+11.5%	2,1 M €	+0.8%	2 M €	+11.8%	1,8 M €	+4.9%	1,7 M €	+1.9%	1,7 M €	-20.2%	2,1 M €	+12.0%	1,9 M €	+1.7%	1,9 M €	+2.4%	1,8 M €	+63.3%	1,1 M €	+24.3%	900,7 k €	+7.0%	841,8 k €	-1.7%	856,6 k €	+44.2%	593,9 k €	-9.1%	653,5 k €	-8.7%	715,5 k €
Cash	121,1 k €	+19.2%	101,6 k €	-63.9%	281,2 k €	-17.4%	340,3 k €	-42.8%	595,3 k €	+71.9%	346,3 k €	-8.1%	377 k €	+57.3%	239,7 k €	+18.8%	201,8 k €	+14.2%	176,7 k €	+17.5%	150,4 k €	-26.4%	204,2 k €	+105%	99,5 k €	-60.0%	249 k €	-59.0%	606,7 k €	+42.5%	425,8 k €	+144%	174,4 k €	+14.5%	152,3 k €	-57.9%	361,5 k €
Debts	108,9 k €	-73.8%	416 k €	+31.2%	317,2 k €	+55.6%	203,8 k €	-48.2%	393,2 k €	+8.1%	363,5 k €	+9.9%	330,8 k €	-11.3%	373,2 k €	-57.2%	872,7 k €	+12.7%	774,1 k €	-8.5%	846,2 k €	-8.7%	927 k €	+190%	319,5 k €	+41.3%	226,1 k €	-8.4%	246,9 k €	-45.9%	456,7 k €	+31.7%	346,7 k €	+16.8%	296,8 k €	-40.4%	498,3 k €
Other
Workforce	1,0 ETP	0.0%	1,0 ETP	-41.2%	1,7 ETP	-15.0%	2,0 ETP	0.0%	2,0 ETP	+42.9%	1,4 ETP	-63.2%	3,8 ETP	+26.7%	3,0 ETP	-25.0%	4,0 ETP	+21.2%	3,3 ETP	+22.2%	2,7 ETP	-6.9%	2,9 ETP	-6.5%	3,1 ETP	-3.1%	3,2 ETP	0.0%	3,2 ETP	0.0%	3,2 ETP	+14.3%	2,8 ETP	+21.7%	2,3 ETP	-30.3%	3,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 3 active · 21 ended

Active mandates

Alain Monteux

Mandate

Active

Emil Peters

Mandate

Active

Stephen Jones

Mandate

Active

Ended mandates

Emil Peters

Director · since 16 mars 2022

Ended

Emile Peters

Director · since 16 mars 2022

Ended

Alain Monteux

Managing director · since 04 mars 2020 · until 02 mars 2026

Ended

Alain Monteux

Managing director · since 04 mars 2020 · until 04 mars 2026

Ended

At this address

Other companies at this address

Company	CBE no.
KMFID● Active	1019.976.675
NERIO● Active	0403.513.565

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	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/05/2026	30/04/2025	30/05/2024	30/04/2023	06/06/2022	31/05/2021
General meeting	04/03/2026	05/03/2025	06/03/2024	01/03/2023	02/03/2022	04/03/2021
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
Full model	30/09/2025	04/03/2026	31/05/2026	French	PDF
Full model	30/09/2024	05/03/2025	30/04/2025	French	PDF
Full model	30/09/2023	06/03/2024	30/05/2024	French	PDF
Full model	30/09/2022	01/03/2023	30/04/2023	French	PDF
Full model	30/09/2021	02/03/2022	06/06/2022	French	PDF
Full model	30/09/2020	04/03/2021	31/05/2021	French	PDF
Full model	30/09/2019	04/03/2020	31/05/2020	French	PDF
Full model	30/09/2018	06/03/2019	12/05/2019	French	PDF
Full model	30/09/2017	07/03/2018	11/04/2018	French	PDF
Full model	30/09/2016	01/03/2017	29/05/2017	French	PDF
Full model	30/09/2015	02/03/2016	31/05/2016	French	PDF
Full model	30/09/2014	04/03/2015	27/04/2015	French	PDF
Full model	30/09/2013	05/03/2014	31/08/2014	French	PDF
Full model	30/09/2012	06/03/2013	31/08/2013	French	PDF
Full model	30/09/2011	07/03/2012	29/05/2012	French	PDF
Full model	30/09/2010	02/03/2011	31/05/2011	French	PDF
Full model	30/09/2009	03/03/2010	28/04/2010	French	PDF
Full model	30/09/2008	04/03/2009	28/05/2009	French	PDF
Full model	30/09/2007	05/03/2008	25/03/2008	French	PDF
Full model	30/09/2006	07/03/2007	30/04/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 30/09/2025 · 3 active · 21 ended

Active mandates

Alain Monteux

Mandate

Active

Emil Peters

Mandate

Active

Stephen Jones

Mandate

Active

Ended mandates

Emil Peters

Director · since 16 mars 2022

Ended

Emile Peters

Director · since 16 mars 2022

Ended

Alain Monteux

Managing director · since 04 mars 2020 · until 02 mars 2026

Ended

Alain Monteux

Managing director · since 04 mars 2020 · until 04 mars 2026

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other10/09/2026
Renouvellement de mandat
PDF
Other10/09/2026
Renouvellement de mandat
PDF
Mandates04/03/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates19/07/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates28/04/2023
DEMISSIONS, NOMINATIONS
PDF
Registered office13/12/2022
MAATSCHAPPELIJKE ZETEL
PDF
Mandates14/07/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates24/06/2020
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 2025-36,3 k €↓
2024
Annual accounts 202463 k €↓
2023
Annual accounts 2023123,1 k €↓
2022
Annual accounts 2022224,8 k €↑
2021
Annual accounts 2021167,2 k €↑
2020
Annual accounts 202080,5 k €↓
2019
Annual accounts 201992,3 k €↑
2018
Annual accounts 201860,5 k €↓
2017
Annual accounts 2017101,3 k €↓
2016
Annual accounts 2016104,5 k €↓
2015
Annual accounts 2015124,2 k €↑
2014
Annual accounts 2014116,4 k €↑
2013
Annual accounts 2013114,2 k €↑
2012
Annual accounts 2012108,1 k €↓
2011
Annual accounts 2011254,7 k €↓
2010
Annual accounts 2010266,8 k €↑
2009
Annual accounts 200968,2 k €↓
2008
Annual accounts 2008112,9 k €↑
2007
Annual accounts 200794,1 k €
17/09/1993
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

TUNSTALL

Overview

What does TUNSTALL 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