ACTIVE

HERPAIN

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Financial year 2025 · closed on 31/12/2025

Net result

905,2 k €

-9.0% YoY

Revenue

2,2 M €

-0.1% YoY

Equity

37 M €

+2.5% YoY

What does HERPAIN do?

HERPAIN is a Public limited company incorporated in 1994. Its registered office is in Uccle.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0452.131.252

Incorporation

31/01/1994

Legal form

Public limited company

Registered office

Avenue des Statuaires 43
1180 Uccle · BruxellesSee on map

Contributed capital

5 595 385,46 €

Latest accounts

31/12/2025

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

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		2007		2006
Income statement
Revenue	2,2 M €	-0.1%	2,2 M €	-0.8%	2,2 M €	+11.1%	2 M €	+5.0%	1,9 M €	-6.1%	2 M €	+0.5%	2 M €	-6.9%	2,1 M €	-20.5%	2,7 M €	+32.0%	2 M €	+15.7%	1,8 M €	-12.0%	2 M €	-23.3%	2,6 M €	+23.1%	2,1 M €	+1.7%	2,1 M €	+9.8%	1,9 M €	-3.6%	2 M €	+15.5%	1,7 M €	+3.9%	1,6 M €
EBITDA	1,9 M €	-8.4%	2,1 M €	-5.1%	2,2 M €	+24.5%	1,8 M €	+10.5%	1,6 M €	-9.9%	1,8 M €	+1.0%	1,8 M €	-0.9%	1,8 M €	-2.9%	1,8 M €	+3.1%	1,8 M €	+25.7%	1,4 M €	+6.4%	1,3 M €	-14.5%	1,6 M €	+10.9%	1,4 M €	-10.1%	1,6 M €	+14.5%	1,4 M €	-6.4%	1,5 M €	+24.8%	1,2 M €	+0.7%	1,2 M €
Operating result	1,4 M €	-11.1%	1,6 M €	-6.8%	1,7 M €	+35.1%	1,3 M €	+10.7%	1,1 M €	-13.8%	1,3 M €	-1.0%	1,3 M €	-5.4%	1,4 M €	-5.2%	1,5 M €	+3.2%	1,5 M €	+37.4%	1,1 M €	+9.0%	969,1 k €	-18.9%	1,2 M €	+14.8%	1 M €	-16.5%	1,2 M €	+17.8%	1,1 M €	-2.4%	1,1 M €	+24.7%	868,8 k €	-0.1%	869,8 k €
Net result	905,2 k €	-9.0%	994,4 k €	-11.5%	1,1 M €	+21.3%	926,1 k €	+6.2%	871,8 k €	-95.9%	21,3 M €	+5793%	360,7 k €	-1.7%	367,1 k €	-16.5%	439,7 k €	+15.0%	382,2 k €	+289%	-201,7 k €	+48.5%	-391,4 k €	-670%	68,7 k €	+158%	-117,8 k €	-26.9%	-92,8 k €	-129%	-40,5 k €	-107%	609,6 k €	+23.1%	495,3 k €	+13.1%	437,8 k €
Balance sheet
Equity	37 M €	+2.5%	36,1 M €	+2.8%	35,1 M €	+2.7%	34,2 M €	+2.0%	33,5 M €	+1.4%	33 M €	+126%	14,6 M €	+1.1%	14,5 M €	-0.2%	14,5 M €	+1.9%	14,2 M €	+2.8%	13,8 M €	-4.2%	14,4 M €	-4.6%	15,1 M €	+0.5%	15,1 M €	-0.8%	15,2 M €	-0.6%	15,3 M €	-0.3%	15,3 M €	+8.4%	14,1 M €	+3.6%	13,6 M €
Total assets	48,2 M €	+0.3%	48 M €	+8.4%	44,3 M €	+3.7%	42,7 M €	-0.1%	42,8 M €	+1.7%	42 M €	-8.8%	46,1 M €	+2.7%	44,9 M €	-0.9%	45,3 M €	+3.0%	44 M €	+4.0%	42,3 M €	-2.4%	43,3 M €	+1.4%	42,7 M €	+10.6%	38,6 M €	+2.0%	37,9 M €	+2.5%	37 M €	+3.1%	35,8 M €	+6.7%	33,6 M €	+1.6%	33,1 M €
Cash	1,4 M €	-17.7%	1,7 M €	-29.9%	2,4 M €	+23.2%	1,9 M €	+4.0%	1,8 M €	+154%	726,5 k €	+708%	89,9 k €	+100%	44,9 k €	+29.6%	34,6 k €	-96.9%	1,1 M €	+455%	198,8 k €	-87.2%	1,6 M €	+48.0%	1 M €	+219%	328,6 k €	-24.8%	437,2 k €	-61.3%	1,1 M €	+163%	430,1 k €	-37.8%	691,6 k €	-75.7%	2,8 M €
Debts	10,4 M €	-6.6%	11,2 M €	+31.9%	8,5 M €	+4.9%	8,1 M €	-7.6%	8,7 M €	+3.3%	8,5 M €	-72.6%	30,9 M €	+3.7%	29,8 M €	-1.0%	30,1 M €	+4.6%	28,8 M €	+5.5%	27,3 M €	-1.5%	27,7 M €	+5.1%	26,3 M €	+18.8%	22,1 M €	+4.3%	21,2 M €	+7.7%	19,7 M €	+4.1%	18,9 M €	+6.3%	17,8 M €	+0.4%	17,7 M €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		0,1 ETP	0.0%	0,1 ETP	0.0%	0,1 ETP	0.0%	0,1 ETP	-90.9%	1,1 ETP	0.0%	1,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 39 ended

Active mandates

4S ASSOCIATES

Director · since 20 décembre 2022 · until 22 juin 2028 · 0841.077.496

Represented by GUY SAUSSUS

Active

Olivier HERPAIN

Director · since 20 décembre 2022 · until 22 juin 2028

Active

PH CONSULT

Managing director · since 20 décembre 2022 · until 22 juin 2028 · 0456.091.624

Represented by Pierre HERPAIN

Active

SOMADIN

Managing director · since 20 décembre 2022 · until 22 juin 2028 · 0893.913.495

Represented by Sophie HERPAIN

Active

Ended mandates

4S ASSOCIATES

Director · since 27 avril 2017 · until 27 avril 2023 · 0841.077.496

Represented by GUY SAUSSUS

Ended

4S ASSOCIATES

Director · since 27 avril 2017 · until 27 avril 2023 · 0841.077.496

Represented by GUY SAUSSUS

Ended

4S ASSOCIATES

Managing director · since 27 avril 2017 · until 27 avril 2023 · 0841.077.496

Represented by GUY SAUSSUS

Ended

OLIVIER HERPAIN

Director · since 27 avril 2017 · until 27 avril 2023

Ended

At this address

Other companies at this address

Company	CBE no.
4S ASSOCIATES● Active	0841.077.496
ACCOMODA● Active	0780.765.965
Association momentanée Herpain-CFE● Active	0634.776.215
HERPAIN ENTREPRISE● Active	0433.353.438
HERPAIN IMMO● Active	0780.668.074
HERPAIN INVESTISSEMENT● Active	0438.663.791
HERPAIN URBIS● Active	0888.972.831
HERPAIN URBIS RETAIL HOLDING● Active	0632.720.805
HERPAIN URBIS RETAIL II● Active	0628.834.667
HERPAIN URBIS RETAIL MANAGEMENT● Active	0865.999.469
HU ACCOMODA● Active	0780.667.777
Les Fèchères● Active	0794.183.639
LONG STREET AND FORREST● Active	0460.459.988
LUMMEN● Active	0780.765.767
LYCEE FRANCAIS 6● Active	1000.513.428
PATCH● Active	0893.917.158
PH CONSULT● Active	0456.091.624
PLACIM● Active	0473.030.297
Plan - Etude - Travaux● Liquidation	0403.029.357
RETAIL BRUSSELS● Active	0700.768.184

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Consolidated accounts
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	01/07/2026	07/08/2025	10/07/2024	04/07/2023	07/07/2022	28/06/2021
General meeting	25/06/2026	26/06/2025	27/06/2024	22/06/2023	30/06/2022	11/06/2021
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

39 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	25/06/2026	01/07/2026	French	PDF
Full model	31/12/2024	26/06/2025	07/08/2025	French	PDF
Consolidated accounts	31/12/2024	26/06/2025	11/08/2025	French	PDF
Full model	31/12/2023	27/06/2024	10/07/2024	French	PDF
Consolidated accounts	31/12/2023	27/06/2024	29/08/2024	French	PDF
Full model	31/12/2022	22/06/2023	04/07/2023	French	PDF
Consolidated accounts	31/12/2022	22/06/2023	04/07/2023	French	PDF
Full model	31/12/2021	30/06/2022	07/07/2022	French	PDF
Consolidated accounts	31/12/2021	07/09/2022	13/09/2022	French	PDF
Full model	31/12/2020	11/06/2021	14/06/2021	French	PDF
Consolidated accounts	31/12/2020	11/06/2021	28/06/2021	French	PDF
Full model	31/12/2019	30/06/2020	07/07/2020	French	PDF
Consolidated accounts	31/12/2019	30/06/2020	07/08/2020	French	PDF
Full model	31/12/2018	25/04/2019	25/06/2019	French	PDF
Consolidated accounts	31/12/2018	25/04/2019	27/06/2019	French	PDF
Full model	31/12/2017	26/04/2018	30/05/2018	French	PDF
Consolidated accounts	31/12/2017	26/04/2018	07/06/2018	French	PDF
Full model	31/12/2016	27/04/2017	12/05/2017	French	PDF
Consolidated accounts	31/12/2016	27/04/2017	22/05/2017	French	PDF
Full model	31/12/2015	28/04/2016	23/05/2016	French	PDF
Consolidated accounts	31/12/2015	28/04/2016	01/06/2016	French	PDF
Full model	31/12/2014	23/04/2015	01/07/2015	French	PDF
Consolidated accounts	31/12/2014	18/06/2015	03/07/2015	French	PDF
Full model	31/12/2013	24/04/2014	13/05/2014	French	PDF

View all 39 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 4 active · 39 ended

Active mandates

4S ASSOCIATES

Director · since 20 décembre 2022 · until 22 juin 2028 · 0841.077.496

Represented by GUY SAUSSUS

Active

Olivier HERPAIN

Director · since 20 décembre 2022 · until 22 juin 2028

Active

PH CONSULT

Managing director · since 20 décembre 2022 · until 22 juin 2028 · 0456.091.624

Represented by Pierre HERPAIN

Active

SOMADIN

Managing director · since 20 décembre 2022 · until 22 juin 2028 · 0893.913.495

Represented by Sophie HERPAIN

Active

Ended mandates

4S ASSOCIATES

Director · since 27 avril 2017 · until 27 avril 2023 · 0841.077.496

Represented by GUY SAUSSUS

Ended

4S ASSOCIATES

Director · since 27 avril 2017 · until 27 avril 2023 · 0841.077.496

Represented by GUY SAUSSUS

Ended

4S ASSOCIATES

Managing director · since 27 avril 2017 · until 27 avril 2023 · 0841.077.496

Represented by GUY SAUSSUS

Ended

OLIVIER HERPAIN

Director · since 27 avril 2017 · until 27 avril 2023

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/10/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates27/10/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates22/12/2022
DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Restructuring26/10/2020
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring25/08/2020
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring25/08/2020
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates13/08/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates07/12/2017
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 2025905,2 k €↓
2024
Annual accounts 2024994,4 k €↓
2023
Annual accounts 20231,1 M €↑
2022
Annual accounts 2022926,1 k €↑
2021
Annual accounts 2021871,8 k €↓
2020
Annual accounts 202021,3 M €↑
2019
Annual accounts 2019360,7 k €↓
2018
Annual accounts 2018367,1 k €↓
2017
Annual accounts 2017439,7 k €↑
2016
Annual accounts 2016382,2 k €↑
2015
Annual accounts 2015-201,7 k €↑
2014
Annual accounts 2014-391,4 k €↓
2013
Annual accounts 201368,7 k €↑
2012
Annual accounts 2012-117,8 k €↓
2011
Annual accounts 2011-92,8 k €↓
2010
Annual accounts 2010-40,5 k €↓
2009
Annual accounts 2009609,6 k €↑
2007
Annual accounts 2007495,3 k €↑
2006
Annual accounts 2006437,8 k €
31/01/1994
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

HERPAIN

Overview

What does HERPAIN 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