ACTIVE

NOEL MANAGEMENT + FINANCE

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Financial year 2026 · closed on 31/03/2026

Net result

1,1 M €

+26.0% YoY

Gross margin

51,2 k €

+228.1% YoY

Equity

14,8 M €

-1.5% YoY

What does NOEL MANAGEMENT + FINANCE do?

NOEL MANAGEMENT + FINANCE is a Public limited company incorporated in 1993. Its main activity is: Activities of head offices. Its registered office is in Eupen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0451.640.611

Incorporation

31/12/1993

Legal form

Public limited company

Registered office

Eichenberg 41
4700 Eupen · WallonieSee on map

Contributed capital

100 000,00 €

Latest accounts

31/03/2026

Activities (NACE)

70100Activities of head offices· main 70100Activities of head offices 64200Activities of holding companies 64210Activities of holding companies

Signals

ProfitableSolid equityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2026		2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	51,2 k €	+228%	-39,9 k €	-113%	-18,8 k €	+51.7%	-38,9 k €	-120%	190,9 k €	-32.7%	283,6 k €	-0.0%	283,8 k €	+12.5%	252,1 k €	-13.5%	291,5 k €	+43.3%	203,4 k €	+8.6%	187,2 k €	-12.7%	214,5 k €	+1.7%	210,9 k €	-0.1%	211,1 k €	+33.7%	157,9 k €	-1.4%	160,1 k €	-3.8%	166,4 k €	+18.5%	140,5 k €	-18.5%	172,4 k €	-11.6%	194,9 k €
EBITDA	43,2 k €	+191%	-47,6 k €	-81.9%	-26,1 k €	+42.7%	-45,6 k €	-125%	184,1 k €	-33.5%	276,7 k €	-0.0%	276,8 k €	+12.8%	245,4 k €	-13.9%	284,9 k €	+44.8%	196,8 k €	+40.1%	140,5 k €	-33.6%	211,5 k €	+1.7%	207,9 k €	-0.2%	208,3 k €	+34.5%	154,9 k €	-0.2%	155,1 k €	-5.1%	163,4 k €	+18.9%	137,5 k €	-18.7%	169,1 k €	-11.7%	191,6 k €
Operating result	-45,3 k €	+67.2%	-138,4 k €	-16.7%	-118,5 k €	+14.1%	-138 k €	-248%	93,2 k €	-52.3%	195,4 k €	-0.9%	197,2 k €	+18.7%	166,1 k €	-18.9%	204,8 k €	+76.6%	116 k €	+87.0%	62 k €	-44.4%	111,5 k €	-37.2%	177,5 k €	-0.3%	178 k €	+69.7%	104,9 k €	-15.8%	124,6 k €	-13.2%	143,5 k €	+26.4%	113,5 k €	-17.9%	138,3 k €	-15.3%	163,2 k €
Net result	1,1 M €	+26.0%	905,7 k €	+9.2%	829,7 k €	+3.3%	802,8 k €	+1.4%	791,4 k €	-18.4%	970,4 k €	-35.8%	1,5 M €	+107%	730,6 k €	-24.5%	967,2 k €	+11.0%	871,4 k €	+13.1%	770,2 k €	-1.8%	784,4 k €	+1.9%	769,7 k €	-0.9%	777,1 k €	+11.9%	694,4 k €	+23.8%	560,7 k €	-25.0%	747,2 k €	+26.5%	590,8 k €	+2.1%	578,8 k €	+7.0%	540,8 k €
Balance sheet
Equity	14,8 M €	-1.5%	15 M €	-3.0%	15,5 M €	+5.7%	14,6 M €	+5.8%	13,8 M €	+6.1%	13 M €	+7.8%	12,1 M €	+14.3%	10,6 M €	+7.4%	9,9 M €	-17.8%	12 M €	+7.8%	11,1 M €	+7.4%	10,3 M €	+8.2%	9,6 M €	+8.8%	8,8 M €	+9.7%	8 M €	-1.3%	8,1 M €	+7.4%	7,6 M €	+11.0%	6,8 M €	+9.5%	6,2 M €	+10.3%	5,6 M €
Total assets	17,5 M €	+0.1%	17,5 M €	-3.4%	18,1 M €	+4.1%	17,4 M €	+3.6%	16,8 M €	+0.7%	16,7 M €	+1.0%	16,5 M €	+7.4%	15,4 M €	-1.0%	15,5 M €	+2.7%	15,1 M €	+10.3%	13,7 M €	+1.7%	13,5 M €	+9.1%	12,3 M €	+7.8%	11,5 M €	+2.3%	11,2 M €	+2.8%	10,9 M €	+6.1%	10,3 M €	+8.1%	9,5 M €	-1.4%	9,6 M €	+4.7%	9,2 M €
Cash	142,9 k €	-51.8%	296,5 k €	-75.0%	1,2 M €	+192%	406,4 k €	+577%	60 k €	-73.8%	228,7 k €	+158%	88,5 k €	-90.5%	935 k €	-42.4%	1,6 M €	+83.3%	886,4 k €	+1936%	43,5 k €	+185%	15,3 k €	-86.5%	113,7 k €	-46.1%	211 k €	+879%	21,5 k €	+78176%	27,5 €	-100.0%	85,9 k €	+47.8%	58,2 k €	-17.2%	70,2 k €	+335%	16,2 k €
Debts	2,7 M €	+10.0%	2,5 M €	-4.5%	2,6 M €	-4.2%	2,7 M €	-7.3%	2,9 M €	-18.2%	3,6 M €	-18.0%	4,4 M €	-7.0%	4,7 M €	-15.8%	5,6 M €	+82.3%	3,1 M €	+21.9%	2,5 M €	-16.9%	3 M €	+12.9%	2,7 M €	+5.2%	2,5 M €	-17.1%	3,1 M €	+15.4%	2,7 M €	+2.6%	2,6 M €	+0.7%	2,6 M €	-21.2%	3,3 M €	-4.3%	3,4 M €

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 31/03/2026 · 3 active · 13 ended

Active mandates

Dominique WAGNER

Director · since 27 février 2021 · until 27 août 2027

Active

LICLEM

Director · since 27 février 2021 · until 27 août 2027 · 0762.988.142

Represented by Cathérine NOËL

Active

Yves NOEL

Managing director · since 27 février 2021 · until 27 août 2027

Active

Ended mandates

LICLEM

Director · since 27 février 2021 · until 27 août 2027 · 0762.988.142

Represented by Cathérine NOËL

Ended

Catherine NOEL

Director · since 18 mai 2015 · until 25 juin 2021

Ended

Cathérine NOËL

Director · since 18 mai 2015 · until 27 février 2021

Ended

Dominique WAGNER

Director · since 18 mai 2015 · until 25 juin 2021

Ended

At this address

Other companies at this address

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NAVIFA● Active	0725.917.217
NOMAINVEST● Active	0460.996.458
QUERCUS● Active	0725.915.930
VIALCA S.A.● Active	1012.890.034

Annual accounts

Full financial information

	2026	2025	2024	2023	2022	2021
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/04/2025	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020
Closing of the financial year	31/03/2026	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	23/07/2026	10/09/2025	10/10/2024	27/10/2023	26/09/2022	18/11/2021
General meeting	14/07/2026	29/08/2025	30/09/2024	25/08/2023	26/08/2022	27/08/2021
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	31/03/2026	14/07/2026	23/07/2026	German	PDF
Abridged model	31/03/2025	29/08/2025	10/09/2025	German	PDF
Abridged model	31/03/2024	30/09/2024	10/10/2024	German	PDF
Abridged model	31/03/2023	25/08/2023	27/10/2023	German	PDF
Abridged model	31/03/2022	26/08/2022	26/09/2022	German	PDF
Abridged model	31/03/2021	27/08/2021	18/11/2021	German	PDF
Abridged model	31/03/2020	28/08/2020	05/11/2020	German	PDF
Abridged model	31/03/2019	30/08/2019	10/10/2019	German	PDF
Abridged model	31/03/2018	31/08/2018	21/09/2018	German	PDF
Abridged model	31/03/2017	28/08/2017	30/08/2017	German	PDF
Abridged model	31/03/2016	24/06/2016	13/09/2016	German	PDF
Abridged model	31/03/2015	18/05/2015	27/07/2015	German	PDF
Abridged model	31/03/2014	27/06/2014	04/07/2014	German	PDF
Abridged model	31/03/2013	28/06/2013	02/07/2013	German	PDF
Abridged model	31/03/2012	29/06/2012	27/09/2012	German	PDF
Abridged model	31/03/2011	24/06/2011	05/10/2011	German	PDF
Abridged model	31/03/2010	25/06/2010	28/07/2010	German	PDF
Abridged model	31/03/2009	26/06/2009	10/07/2009	German	PDF
Abridged model	31/03/2008	27/06/2008	07/11/2008	German	PDF
Abridged model	31/03/2007	29/06/2007	10/07/2007	German	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 31/03/2026 · 3 active · 13 ended

Active mandates

Dominique WAGNER

Director · since 27 février 2021 · until 27 août 2027

Active

LICLEM

Director · since 27 février 2021 · until 27 août 2027 · 0762.988.142

Represented by Cathérine NOËL

Active

Yves NOEL

Managing director · since 27 février 2021 · until 27 août 2027

Active

Ended mandates

LICLEM

Director · since 27 février 2021 · until 27 août 2027 · 0762.988.142

Represented by Cathérine NOËL

Ended

Catherine NOEL

Director · since 18 mai 2015 · until 25 juin 2021

Ended

Cathérine NOËL

Director · since 18 mai 2015 · until 27 février 2021

Ended

Dominique WAGNER

Director · since 18 mai 2015 · until 25 juin 2021

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other02/02/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates06/05/2021
DEMISSIONS, NOMINATIONS
PDF
Capital / shares29/09/2017
CAPITAL, ACTIONS
PDF
Mandates11/06/2015
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Capital / shares05/01/2012
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates06/04/2010
DEMISSIONS, NOMINATIONS
PDF
Mandates09/12/2004
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

2026
Annual accounts 20261,1 M €↑
2025
Annual accounts 2025905,7 k €↑
2024
Annual accounts 2024829,7 k €↑
2023
Annual accounts 2023802,8 k €↑
2022
Annual accounts 2022791,4 k €↓
2021
Annual accounts 2021970,4 k €↓
2020
Annual accounts 20201,5 M €↑
2019
Annual accounts 2019730,6 k €↓
2018
Annual accounts 2018967,2 k €↑
2017
Annual accounts 2017871,4 k €↑
2016
Annual accounts 2016770,2 k €↓
2015
Annual accounts 2015784,4 k €↑
2014
Annual accounts 2014769,7 k €↓
2013
Annual accounts 2013777,1 k €↑
2012
Annual accounts 2012694,4 k €↑
2011
Annual accounts 2011560,7 k €↓
2010
Annual accounts 2010747,2 k €↑
2009
Annual accounts 2009590,8 k €↑
2008
Annual accounts 2008578,8 k €↑
2007
Annual accounts 2007540,8 k €
31/12/1993
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

NOEL MANAGEMENT + FINANCE

Overview

What does NOEL MANAGEMENT + FINANCE do?

Trend over 20 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