ACTIVE

THE KOTTAGE

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Financial year 2025 · closed on 31/12/2025

Net result

-37,6 k €

-122.9% YoY

Gross margin

105,5 k €

+1.8% YoY

Equity

-18,9 k €

-178.9% YoY

What does THE KOTTAGE do?

THE KOTTAGE is a Public limited company incorporated in 1994. Its main activity is: Hotels and similar accommodation. Its registered office is in Waterloo.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0452.989.307

Incorporation

30/06/1994

Legal form

Public limited company

Registered office

Chaussée de Tervuren 389
1410 Waterloo · WallonieSee on map

Contributed capital

173 525,47 €

Latest accounts

31/12/2025

Activities (NACE)

55100Hotels and similar accommodation· main 55100Hotels and similar accommodation 55203Holiday and other short-stay accommodation 55203Holiday and other short-stay accommodation 77210Rental and leasing of recreational and sports goods 77210Rental and leasing of recreational and sports goods

Signals

Good liquidityPositive cashflowPositive EBITDA

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		2022		2021		2020		2019		2018		2016		2015		2014		2013		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	105,5 k €	+1.8%	103,7 k €	+16.4%	89,1 k €	+4.7%	85,1 k €	-29.9%	121,3 k €	+52.5%	79,5 k €	+10.9%	71,7 k €	+29.1%	55,5 k €	-72.8%	204 k €	-40.5%	342,8 k €	+41.2%	242,8 k €	-1.2%	245,7 k €	+128%	107,5 k €	+544%	-24,2 k €	-146%	52,3 k €	+400%	10,4 k €	-97.1%	366,2 k €	+3.1%	355,4 k €	+5.5%	336,9 k €
EBITDA	96 k €	+1.6%	94,4 k €	+17.8%	80,2 k €	+4.5%	76,7 k €	-23.8%	100,7 k €	+40.6%	71,6 k €	+8.1%	66,2 k €	+41.4%	46,8 k €	-67.1%	142,3 k €	-51.1%	291 k €	+32.7%	219,3 k €	-7.6%	237,4 k €	+128%	104,2 k €	+484%	-27,2 k €	-163%	43,1 k €	+540%	6,7 k €	-93.2%	98,8 k €	+119%	45,1 k €	-36.5%	71 k €
Operating result	-11 k €	+9.5%	-12,1 k €	+53.7%	-26,2 k €	-248%	-7,5 k €	+54.8%	-16,6 k €	+60.0%	-41,5 k €	+8.1%	-45,2 k €	+25.3%	-60,5 k €	-89.1%	-32 k €	-119%	165,6 k €	+81.6%	91,2 k €	+1.1%	90,2 k €	+196%	-94 k €	-66.7%	-56,4 k €	-587%	11,6 k €	+141%	-28,4 k €	-154%	52,8 k €	+1141%	4,3 k €	-88.0%	35,5 k €
Net result	-37,6 k €	-123%	-16,9 k €	+50.5%	-34,1 k €	-109%	-16,3 k €	+31.2%	-23,6 k €	+33.0%	-35,3 k €	+11.5%	-39,9 k €	+29.7%	-56,7 k €	+12.9%	-65 k €	-157%	114,1 k €	+137%	48,1 k €	-29.9%	68,7 k €	+159%	-117,3 k €	-98.7%	-59,1 k €	-6742%	889 €	+103%	-27 k €	-115%	182 k €	+1208%	-16,4 k €	-158%	28,6 k €
Balance sheet
Equity	-18,9 k €	-179%	24 k €	-48.1%	46,3 k €	-46.0%	85,7 k €	-19.2%	106,1 k €	-21.5%	135,1 k €	-23.1%	175,8 k €	-20.5%	221 k €	-21.9%	283,1 k €	-17.9%	344,9 k €	+41.7%	243,5 k €	+38.4%	175,9 k €	+147%	71,3 k €	-62.2%	188,7 k €	-15.7%	223,7 k €	-9.4%	246,8 k €	-9.9%	273,9 k €	+198%	91,9 k €	-15.2%	108,3 k €
Total assets	1,3 M €	-5.1%	1,3 M €	+0.7%	1,3 M €	-9.6%	1,5 M €	-4.8%	1,5 M €	-5.0%	1,6 M €	-4.6%	1,7 M €	+2.8%	1,7 M €	+8.5%	1,5 M €	-11.0%	1,7 M €	-2.8%	1,8 M €	-1.6%	1,8 M €	+3.7%	1,7 M €	+501%	288,2 k €	-21.8%	368,4 k €	-10.2%	410,1 k €	-15.6%	485,9 k €	-1.7%	494,1 k €	-6.0%	525,6 k €
Cash	270,6 k €	+17.9%	229,5 k €	+75.7%	130,6 k €	-6.3%	139,4 k €	-5.0%	146,6 k €	+34.6%	109 k €	+0.6%	108,3 k €	+173%	39,7 k €	-59.3%	97,5 k €	+629%	13,4 k €	-1.8%	13,6 k €	+69.6%	8 k €	-19.6%	10 k €	-70.6%	33,9 k €	-51.6%	70,1 k €	+61.7%	43,3 k €	-45.0%	78,8 k €	+56.0%	50,5 k €	-37.7%	81,1 k €
Debts	1,3 M €	-1.5%	1,3 M €	+3.2%	1,3 M €	-6.9%	1,4 M €	-2.6%	1,4 M €	-3.8%	1,4 M €	-2.0%	1,5 M €	+7.3%	1,4 M €	+17.1%	1,2 M €	-9.1%	1,3 M €	-10.1%	1,4 M €	-6.0%	1,5 M €	-2.3%	1,6 M €	+165263%	949,2 €	-97.9%	46,1 k €	+33.0%	34,7 k €	-58.4%	83,4 k €	-79.3%	402,2 k €	-3.6%	417,3 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		0,5 ETP		–		–		–		–		–		5,6 ETP	-27.3%	7,7 ETP	+11.6%	6,9 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 31/12/2025 · 4 active · 23 ended

Active mandates

ARLO

Director · since 15 décembre 2022 · 0549.871.917

Represented by Arthur Lhoist

Active

JL SQUARE

Director · since 15 décembre 2022 · until 01 juin 2026 · 0728.815.042

Represented by Jérôme Lhoist

Active

SPORTS VENTURES

Director · since 15 décembre 2022 · 0607.893.852

Represented by Nicolas Lhoist

Active

Vincent Andre

Director · since 15 décembre 2022

Active

Ended mandates

ARLO

Director · since 15 décembre 2022 · 0549.871.917

Represented by Arthur Lhoist

Ended

JL SQUARE

Director · since 15 décembre 2022 · 0728.815.042

Represented by Jérome Lhoist

Ended

JL SQUARE

Director · since 15 décembre 2022 · 0728.815.042

Represented by Jérôme Lhoist

Ended

JL SQUARE

Director · since 15 décembre 2022 · 0728.815.042

Represented by Jerôme Lhoist

Ended

At this address

Other companies at this address

Company	CBE no.
ARLO● Active	0549.871.917
Boucherie Magerotte● Active	0791.390.237
CDM HORSES● Active	1009.876.205
Céline Ghins● Active	0804.871.752
DENILO GROUP● Active	0715.462.793
Domaine Christiaens● Active	0761.560.757
FALS● Active	0424.336.891
FALS UNIT● Active	1026.004.632
Ferme Marot● Active	0780.456.060
Garisart sports et loisirs● Active	1020.508.789
IMZ● Active	0444.236.838
JLH Assets● Active	1000.589.840
JLH Invest● Active	0788.581.591
JL SQUARE● Active	0728.815.042
KO IMMO● Active	0749.880.373
KO INVEST● Active	0835.355.981
KO KOTTAGE● Active	0667.921.412
KOLLINE● Active	0678.531.331
LAMSOUL● Active	0432.848.741
LE BESTIN● Active	0434.877.823

Annual accounts

Full financial information

	2025	2024	2023	2022	2022	2021
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/04/2022	01/04/2021	01/04/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/03/2022	31/03/2021
Length of the financial year	12 months	12 months	12 months	9 months	12 months	12 months
Filing date	09/06/2026	10/09/2025	14/11/2024	02/12/2023	18/09/2023	24/11/2021
General meeting	01/06/2026	29/08/2025	24/06/2024	08/11/2023	04/09/2023	24/09/2021
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	01/06/2026	09/06/2026	French	PDF
Abridged model	31/12/2024	29/08/2025	10/09/2025	French	PDF
Abridged model	31/12/2023	24/06/2024	14/11/2024	French	PDF
Abridged model	31/12/2022	08/11/2023	02/12/2023	French	PDF
Abridged modelCorrection	31/03/2022	04/09/2023	18/09/2023	French	PDF
Abridged model	31/03/2022	21/06/2023	21/06/2023	French	PDF
Micro model	31/03/2021	24/09/2021	24/11/2021	French	PDF
Micro model	31/03/2020	25/09/2020	30/11/2020	French	PDF
Micro model	31/03/2019	27/09/2019	31/10/2019	French	PDF
Micro model	31/03/2018	28/09/2018	31/10/2018	French	PDF
Abridged model	30/06/2016	06/12/2016	22/12/2016	French	PDF
Abridged model	30/06/2015	01/12/2015	12/01/2016	French	PDF
Abridged model	30/06/2014	02/12/2014	22/01/2015	French	PDF
Abridged model	30/06/2013	03/12/2013	13/02/2014	French	PDF
Abridged model	31/12/2011	12/06/2012	26/07/2012	French	PDF
Abridged model	31/12/2010	08/06/2011	31/08/2011	French	PDF
Abridged model	31/12/2009	09/06/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	10/06/2009	26/08/2009	French	PDF
Abridged model	31/12/2007	11/06/2008	29/08/2008	French	PDF
Abridged model	31/12/2006	13/06/2007	31/08/2007	French	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 31/12/2025 · 4 active · 23 ended

Active mandates

ARLO

Director · since 15 décembre 2022 · 0549.871.917

Represented by Arthur Lhoist

Active

JL SQUARE

Director · since 15 décembre 2022 · until 01 juin 2026 · 0728.815.042

Represented by Jérôme Lhoist

Active

SPORTS VENTURES

Director · since 15 décembre 2022 · 0607.893.852

Represented by Nicolas Lhoist

Active

Vincent Andre

Director · since 15 décembre 2022

Active

Ended mandates

ARLO

Director · since 15 décembre 2022 · 0549.871.917

Represented by Arthur Lhoist

Ended

JL SQUARE

Director · since 15 décembre 2022 · 0728.815.042

Represented by Jérome Lhoist

Ended

JL SQUARE

Director · since 15 décembre 2022 · 0728.815.042

Represented by Jérôme Lhoist

Ended

JL SQUARE

Director · since 15 décembre 2022 · 0728.815.042

Represented by Jerôme Lhoist

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/06/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates10/03/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates12/12/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates27/12/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - COMPTES ANNUELS - SIEGE SOCIAL - DIVERS - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Registered office22/08/2017
SIEGE SOCIAL - ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Mandates02/08/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates02/01/2013
DEMISSIONS, NOMINATIONS
PDF
Mandates09/02/2012
DENOMINATION - OBJET - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 2025-37,6 k €↓
2024
Annual accounts 2024-16,9 k €↑
2023
Annual accounts 2023-34,1 k €↓
2022
Annual accounts 2022-16,3 k €↑
2022
Annual accounts 2022-23,6 k €↑
2021
Annual accounts 2021-35,3 k €↑
2020
Annual accounts 2020-39,9 k €↑
2019
Annual accounts 2019-56,7 k €↑
2018
Annual accounts 2018-65 k €↓
2016
Annual accounts 2016114,1 k €↑
2015
Annual accounts 201548,1 k €↓
2014
Annual accounts 201468,7 k €↑
2013
Annual accounts 2013-117,3 k €↓
2011
Annual accounts 2011-59,1 k €↓
2010
Annual accounts 2010889 €↑
2009
Annual accounts 2009-27 k €↓
2008
Annual accounts 2008182 k €↑
2007
Annual accounts 2007-16,4 k €↓
2006
Annual accounts 200628,6 k €
30/06/1994
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

THE KOTTAGE

Overview

What does THE KOTTAGE 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