ACTIVE

COMPLEX

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Financial year 2025 · closed on 31/12/2025

Net result

19,3 k €

-43.9% YoY

Gross margin

360,0 k €

+24.7% YoY

Equity

158,9 k €

-4.7% YoY

Workforce

11,7 ETP

+13.6% YoY

What does COMPLEX do?

COMPLEX is a Private limited company incorporated in 1994. Its registered office is in Auderghem. It employs on average 11,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0451.606.264

Incorporation

21/01/1994

Legal form

Private limited company

Registered office

Chaussée de Wavre 1167
1160 Auderghem · BruxellesSee on map

Contributed capital

18 592,01 €

Latest accounts

31/12/2025

Average workforce

11,7 ETP

Joint committees (2)

302
3020

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	360,0 k €	+24.7%	288,8 k €	-1.7%	293,8 k €	+20.3%	244,3 k €	+87.7%	130,2 k €	-50.3%	262,1 k €	+83.6%	142,7 k €	-12.4%	162,9 k €	+3.8%	156,9 k €	+4.3%	150,5 k €	-0.1%	150,7 k €	-1.4%	152,8 k €	+2.6%	148,9 k €	+1.7%	146,5 k €	+2.5%	143,0 k €	-3.8%	148,6 k €	+7.9%	137,7 k €	-6.1%	146,5 k €
EBITDA	58,1 k €	-24.7%	77,1 k €	+89.6%	40,7 k €	-10.7%	45,6 k €	-19.4%	56,5 k €	-42.0%	97,3 k €	+793%	10,9 k €	-56.1%	24,8 k €	+21.7%	20,4 k €	+70.6%	12,0 k €	+84.4%	6,5 k €	-34.0%	9,8 k €	-15.2%	11,6 k €	+742%	-1,8 k €	+95.1%	-36,9 k €	-209%	33,7 k €	+64.2%	20,5 k €	-37.7%	33,0 k €
Operating result	36,5 k €	-33.8%	55,1 k €	+114%	25,8 k €	-38.5%	41,9 k €	-21.0%	53,0 k €	-40.6%	89,3 k €	+1758%	4,8 k €	-75.7%	19,8 k €	+29.6%	15,2 k €	+161%	5,8 k €	+4571%	-130,6 €	-104%	3,2 k €	-39.4%	5,3 k €	+154%	-9,9 k €	+77.8%	-44,7 k €	-259%	28,2 k €	+95.1%	14,5 k €	-29.4%	20,5 k €
Net result	19,3 k €	-43.9%	34,3 k €	+127%	15,1 k €	-56.3%	34,6 k €	-31.3%	50,4 k €	-27.2%	69,2 k €	+2532%	-2,8 k €	-119%	14,9 k €	+33.3%	11,2 k €	+144%	4,6 k €	+196%	-4,8 k €	-494%	1,2 k €	-67.0%	3,7 k €	+125%	-14,5 k €	+72.5%	-52,7 k €	-398%	17,7 k €	+71.2%	10,3 k €	+4878%	207,7 €
Balance sheet
Equity	158,9 k €	-4.7%	166,7 k €	-12.8%	191,1 k €	+8.6%	176,0 k €	+24.5%	141,4 k €	+67.9%	84,2 k €	+172%	31,0 k €	-8.4%	33,9 k €	+25.5%	27,0 k €	+70.6%	15,8 k €	+40.8%	11,2 k €	-29.7%	16,0 k €	+8.2%	14,8 k €	+32.8%	11,1 k €	-56.6%	25,6 k €	-67.3%	78,3 k €	+15.0%	68,1 k €	+17.9%	57,8 k €
Total assets	297,5 k €	+2.3%	290,9 k €	-14.8%	341,6 k €	+32.1%	258,6 k €	+17.2%	220,7 k €	-22.2%	283,6 k €	+38.3%	205,0 k €	+19.7%	171,2 k €	+36.9%	125,0 k €	+15.9%	107,9 k €	+14.9%	93,9 k €	+3.3%	90,9 k €	+3.1%	88,2 k €	-14.5%	103,2 k €	-18.1%	125,9 k €	-22.6%	162,6 k €	+27.7%	127,3 k €	-23.4%	166,1 k €
Cash	209,0 k €	+16.3%	179,7 k €	-2.9%	185,0 k €	+5.9%	174,7 k €	+54.4%	113,1 k €	+10.8%	102,1 k €	+53.7%	66,4 k €	+6.2%	62,6 k €	+43.1%	43,7 k €	+249%	12,5 k €	+6.7%	11,7 k €	+6.1%	11,1 k €	+421%	2,1 k €	-73.4%	8,0 k €	-37.6%	12,8 k €	-0.0%	12,8 k €	+11.1%	11,5 k €	-74.4%	45,0 k €
Debts	116,5 k €	+25.9%	92,5 k €	-15.4%	109,3 k €	+32.4%	82,6 k €	+4.1%	79,3 k €	-59.8%	197,3 k €	+17.5%	168,0 k €	+31.9%	127,3 k €	+51.5%	84,1 k €	-8.7%	92,1 k €	+11.4%	82,6 k €	+10.3%	74,9 k €	+2.1%	73,4 k €	-20.3%	92,0 k €	-8.2%	100,3 k €	+18.9%	84,3 k €	+42.5%	59,2 k €	-33.1%	88,4 k €
Other
Workforce	11,7 ETP	+13.6%	10,3 ETP	-32.7%	15,3 ETP	0.0%	15,3 ETP	+206%	5,0 ETP	-51.5%	10,3 ETP	+212%	3,3 ETP	+10.0%	3,0 ETP	-9.1%	3,3 ETP	-5.7%	3,5 ETP	0.0%	3,5 ETP	0.0%	3,5 ETP	0.0%	3,5 ETP	-7.9%	3,8 ETP	-5.0%	4,0 ETP	+21.2%	3,3 ETP	-13.2%	3,8 ETP	+5.6%	3,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 1 ended

Active mandates

LUC BIESMANS

Director

Active

Ended mandates

LUC BIESMANS

Manager

Ended

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	01/01/2025	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	27/02/2026	26/05/2025	28/03/2024	29/06/2023	29/06/2022	29/06/2021
General meeting	12/02/2026	22/05/2025	14/03/2024	28/06/2023	06/06/2022	07/06/2021
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	12/02/2026	27/02/2026	Dutch	PDF
Abridged model	31/12/2024	22/05/2025	26/05/2025	Dutch	PDF
Abridged model	31/12/2023	14/03/2024	28/03/2024	Dutch	PDF
Abridged model	31/12/2022	28/06/2023	29/06/2023	Dutch	PDF
Abridged model	31/12/2021	06/06/2022	29/06/2022	Dutch	PDF
Abridged model	31/12/2020	07/06/2021	29/06/2021	Dutch	PDF
Abridged model	31/12/2019	07/09/2020	30/11/2020	Dutch	PDF
Abridged model	31/12/2018	03/06/2019	30/10/2019	Dutch	PDF
Abridged model	31/12/2017	04/06/2018	25/09/2018	Dutch	PDF
Abridged model	31/12/2016	06/06/2017	29/09/2017	Dutch	PDF
Abridged model	31/12/2015	06/06/2016	30/09/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	02/06/2014	28/08/2014	Dutch	PDF
Abridged model	31/12/2012	03/06/2013	30/09/2013	Dutch	PDF
Abridged model	31/12/2011	04/06/2012	28/09/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	29/09/2011	Dutch	PDF
Abridged model	31/12/2009	07/06/2010	31/08/2010	Dutch	PDF
Abridged model	31/12/2008	01/06/2009	30/10/2009	Dutch	PDF
Abridged model	31/12/2007	02/06/2008	28/08/2008	Dutch	PDF
Abridged model	31/12/2006	04/06/2007	31/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 1 active · 1 ended

Active mandates

LUC BIESMANS

Director

Active

Ended mandates

LUC BIESMANS

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other02/02/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ALGEMENE VERGADERING
PDF
Mandates15/02/2007
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 202519,3 k €↓
2024
Annual accounts 202434,3 k €↑
2023
Annual accounts 202315,1 k €↓
2022
Annual accounts 202234,6 k €↓
2021
Annual accounts 202150,4 k €↓
2018
Annual accounts 201869,2 k €↑
2017
Annual accounts 2017-2,8 k €↓
2016
Annual accounts 201614,9 k €↑
2015
Annual accounts 201511,2 k €↑
2014
Annual accounts 20144,6 k €↑
2013
Annual accounts 2013-4,8 k €↓
2012
Annual accounts 20121,2 k €↓
2011
Annual accounts 20113,7 k €↑
2010
Annual accounts 2010-14,5 k €↑
2009
Annual accounts 2009-52,7 k €↓
2008
Annual accounts 200817,7 k €↑
2007
Annual accounts 200710,3 k €↑
2006
Annual accounts 2006207,7 €
21/01/1994
IncorporationPrivate 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

COMPLEX

Overview

What does COMPLEX do?

Trend over 18 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