PSH
0452.994.750 · rovalta.com · 22/09/2026
ACTIVE
PSH
Financial year 2025 · closed on 31/12/2025
Net result
323 k €
+445.6% YoY
Gross margin
282,5 k €
+310.8% YoY
Equity
324,3 M €
+0.1% YoY
Overview
What does PSH do?
PSH is a Cooperative company with limited liability incorporated in 1994. Its registered office is in Saint-Josse-ten-Noode.
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0452.994.750
Incorporation
23/06/1994
Legal form
Cooperative company with limited liability
Registered office
Rue Royale 151
1210 Saint-Josse-ten-Noode · BruxellesSee on map
1210 Saint-Josse-ten-Noode · BruxellesSee on map
Contributed capital
536 350,00 €
Latest accounts
31/12/2025
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA
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Financials
Trend over 20 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||||||||
| Gross margin | 282,5 k € | +311% | -134 k € | +30.4% | -192,6 k € | -7.2% | -179,7 k € | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | ||||||||||||||||
| EBITDA | 282,5 k € | +311% | -134 k € | +30.4% | -192,6 k € | -4.7% | -184 k € | -37.3% | -134 k € | -11.5% | -120,1 k € | -2.8% | -116,9 k € | -323% | -27,6 k € | +77.4% | -122 k € | +2.7% | -125,4 k € | +54.0% | -272,4 k € | -39.1% | -195,9 k € | +13.5% | -226,4 k € | -95.7% | -115,7 k € | -21.2% | -95,4 k € | -175% | -34,7 k € | -494% | -5,8 k € | +28.1% | -8,1 k € | -47.2% | -5,5 k € | -13.5% | -4,9 k € |
| Operating result | 282,5 k € | +311% | -134 k € | +30.4% | -192,6 k € | -4.7% | -184 k € | -37.3% | -134 k € | -11.5% | -120,1 k € | -2.8% | -116,9 k € | -323% | -27,6 k € | +77.4% | -122 k € | +2.7% | -125,4 k € | +54.0% | -272,4 k € | -39.1% | -195,9 k € | +13.5% | -226,4 k € | -95.7% | -115,7 k € | -21.2% | -95,4 k € | -175% | -34,7 k € | -494% | -5,8 k € | +28.1% | -8,1 k € | -47.2% | -5,5 k € | -13.5% | -4,9 k € |
| Net result | 323 k € | +446% | -93,5 k € | +38.7% | -152,5 k € | -170% | 218,2 k € | +292% | -113,7 k € | +8.2% | -123,9 k € | -39.1% | -89,1 k € | -1030% | 9,6 k € | +110% | -94,1 k € | +25.3% | -126 k € | +53.8% | -272,9 k € | -122% | 1,2 M € | -69.3% | 4 M € | +193% | -4,3 M € | -7676% | 57,3 k € | +53.1% | 37,4 k € | -45.8% | 69,1 k € | -6.4% | 73,8 k € | -4.6% | 77,4 k € | -1.1% | 78,3 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||||||
| Equity | 324,3 M € | +0.1% | 324,1 M € | -0.0% | 324,2 M € | -0.1% | 324,4 M € | +0.1% | 324,2 M € | -0.0% | 324,4 M € | -0.1% | 324,5 M € | -0.0% | 324,6 M € | -0.0% | 324,7 M € | -0.0% | 324,8 M € | -0.2% | 325,4 M € | -0.1% | 325,7 M € | +0.4% | 324,4 M € | +1.2% | 320,5 M € | -1.4% | 324,9 M € | +0.0% | 324,8 M € | -0.0% | 324,8 M € | +0.0% | 324,8 M € | +0.0% | 324,8 M € | +0.0% | 324,8 M € |
| Total assets | 324,4 M € | +0.1% | 324,1 M € | -0.1% | 324,3 M € | -0.0% | 324,4 M € | +0.1% | 324,3 M € | -0.0% | 324,4 M € | -0.0% | 324,5 M € | -0.0% | 324,7 M € | -0.0% | 324,7 M € | -0.0% | 324,8 M € | -0.2% | 325,5 M € | -0.1% | 325,7 M € | -0.6% | 327,5 M € | -2.2% | 334,9 M € | +3.1% | 324,9 M € | -0.0% | 324,9 M € | -0.0% | 324,9 M € | +0.0% | 324,9 M € | +0.0% | 324,9 M € | +0.0% | 324,9 M € |
| Cash | 1,7 M € | +21.1% | 1,4 M € | -11.1% | 1,6 M € | -8.3% | 1,8 M € | +8.5% | 1,6 M € | -8.4% | 1,8 M € | -6.8% | 1,9 M € | -6.6% | 2 M € | -0.7% | 2 M € | -6.2% | 2,2 M € | -23.3% | 2,8 M € | +25.0% | 2,3 M € | +638% | 308,1 k € | -72.9% | 1,1 M € | +582% | 166,5 k € | +1970% | 8 k € | -97.5% | 326,8 k € | +2317% | 13,5 k € | +6.9% | 12,7 k € | +280% | 3,3 k € |
| Debts | 59 k € | +48.2% | 39,8 k € | -59.2% | 97,5 k € | +145% | 39,8 k € | -12.3% | 45,4 k € | +14.0% | 39,8 k € | +418% | 7,7 k € | -84.8% | 50,7 k € | +1.4% | 50 k € | +4.0% | 48,1 k € | -61.0% | 123,2 k € | +218% | 38,7 k € | -98.8% | 3,1 M € | -78.3% | 14,3 M € | +1574660% | 907,5 € | -98.9% | 85,3 k € | +30.6% | 65,3 k € | 0.0% | 65,3 k € | 0.0% | 65,3 k € | +0.2% | 65,2 k € |
Estimate
Indicative valuation
As an indication, this company is worth
between 1 M€ and 2,5 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 9 active · 110 ended
Active mandates
Laurent SEREZ
ActiveRenaud Lorand
ActiveJeroen SPINOY
ActiveJohan DEKENS
ActiveAlain THIRION
ActiveHilal SOR
ActiveHilde VERNAILLEN
ActivePaul CALLEWAERT
ActiveWerner VAN HEETVELDE
ActiveEnded mandates
Jeroen Spinoy
EndedAlain Thirion
EndedJean-Paul PHILIPPOT
EndedJean-Paul PHILIPPOT
EndedAt this address
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Financials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Abridged model | Abridged model | Abridged model | Abridged model | Full model | m120-f-p |
| 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 | 29/06/2026 | 30/06/2025 | 28/06/2024 | 29/06/2023 | 06/07/2022 | 13/07/2021 |
| General meeting | 18/06/2026 | 19/06/2025 | 20/06/2024 | 15/06/2023 | 16/06/2022 | 17/06/2021 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
42 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Abridged model | 31/12/2025 | 18/06/2026 | 29/06/2026 | French | |
| Abridged model | 31/12/2024 | 19/06/2025 | 30/06/2025 | French | |
| m120-f-p | 31/12/2024 | 19/06/2025 | 26/06/2025 | French | |
| Abridged model | 31/12/2023 | 20/06/2024 | 28/06/2024 | French | |
| m120-f-p | 31/12/2023 | 20/06/2024 | 24/06/2024 | French | |
| Abridged model | 31/12/2022 | 15/06/2023 | 29/06/2023 | French | |
| m120-f-p | 31/12/2022 | 15/06/2023 | 27/06/2023 | French | |
| Full model | 31/12/2021 | 16/06/2022 | 06/07/2022 | French | |
| m120-f-p | 31/12/2021 | 16/06/2022 | 07/07/2022 | French | |
| Full model | 31/12/2020 | 17/06/2021 | 08/07/2021 | French | |
| m120-f-p | 31/12/2020 | 17/06/2021 | 13/07/2021 | French | |
| Full model | 31/12/2019 | 26/06/2020 | 30/06/2020 | French | |
| m120-f-p | 31/12/2019 | 18/06/2020 | 29/06/2020 | French | |
| Full model | 31/12/2018 | 20/06/2019 | 01/08/2019 | French | |
| m120-f-p | 31/12/2018 | 20/06/2019 | 04/07/2019 | French | |
| Full model | 31/12/2017 | 29/06/2018 | 26/07/2018 | French | |
| m120-f-pCorrection | 31/12/2017 | 29/06/2018 | 26/07/2018 | French | |
| m120-f-p | 31/12/2017 | 21/06/2018 | 04/07/2018 | French | |
| Full model | 31/12/2016 | 15/06/2017 | 01/08/2017 | French | |
| m120-f-pCorrection | 31/12/2016 | 15/06/2017 | 14/09/2017 | French | |
| m120-f-p | 31/12/2016 | 15/06/2017 | 06/07/2017 | French | |
| Full model | 31/12/2015 | 16/06/2016 | 16/08/2016 | French | |
| m120-f-p | 31/12/2015 | 16/06/2016 | 04/07/2016 | French | |
| Full model | 31/12/2014 | 18/06/2015 | 24/07/2015 | French |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 1 M€ and 2,5 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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 9 active · 110 ended
Active mandates
Laurent SEREZ
ActiveRenaud Lorand
ActiveJeroen SPINOY
ActiveJohan DEKENS
ActiveAlain THIRION
ActiveHilal SOR
ActiveHilde VERNAILLEN
ActivePaul CALLEWAERT
ActiveWerner VAN HEETVELDE
ActiveEnded mandates
Jeroen Spinoy
EndedAlain Thirion
EndedJean-Paul PHILIPPOT
EndedJean-Paul PHILIPPOT
EndedShareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Restructuring09/04/2026KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
- Restructuring09/04/2026CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
- Restructuring13/02/2026KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
- Restructuring13/02/2026RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
- Mandates30/10/2025DEMISSIONS, NOMINATIONS
- Mandates29/10/2025DEMISSIONS, NOMINATIONS
- Mandates28/10/2025DEMISSIONS, NOMINATIONS
- Mandates12/09/2024DEMISSIONS, NOMINATIONS
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025323 k €↑
- 19/06/2025reconductionKPMG Réviseurs d'Entreprises SRL — commissaire
- 19/06/2025nominationArnaud DELLICOUR — représentant permanent
- 19/06/2025nominationLaurent SEREZ — membre du Comité de direction, CFO
- 19/06/2025nominationLaurent SEREZ — administrateur exécutif
- 19/06/2025reconductionJeroen Spinoy — administrateur exécutif, membre du Comité de direction
- 19/06/2025reconductionAlain Thirion — administrateur non-exécutif, président
- 2024Annual accounts 2024-93,5 k €↑
- 20/06/2024reconductionWerner VAN HEETVELDE — Administrateur non-exécutif
- 20/06/2024reconductionPaul CALLEWAERT — Administrateur non-exécutif
- 20/06/2024reconductionHillal SOR — Administrateur non-exécutif
- 20/06/2024reconductionHilde VERNAILLEN — Administrateur exécutif, membre du Comité de direction
- 20/06/2024nominationRenaud LORAND — administrateur non-exécutif (administrateur indépendant)
- 22/05/2024nominationJeroen SPINOY — administrateur exécutif (membre du Comité de direction)
- 2023Annual accounts 2023-152,5 k €↓
- 01/10/2023nominationJohan DEKENS — administrateur exécutif (membre du Comité de direction)
- 28/09/2023nominationJohan DEKENS — administrateur exécutif
- 15/06/2023nominationAlain THIRION — administrateur
- 2022Annual accounts 2022218,2 k €↑
- 16/06/2022reconductionJean Paul Philippot — administrateur indépendant et membre du Comité de nomination
- 16/06/2022reconductionKenneth Vermeire — commissaire
- 2021Annual accounts 2021-113,7 k €↑
- 2020Annual accounts 2020-123,9 k €↓
- 2019Annual accounts 2019-89,1 k €↓
- 2018Annual accounts 20189,6 k €↑
- 2017Annual accounts 2017-94,1 k €↑
- 2016Annual accounts 2016-126 k €↑
- 2015Annual accounts 2015-272,9 k €↓
- 2014Annual accounts 20141,2 M €↓
- 2013Annual accounts 20134 M €↑
- 2012Annual accounts 2012-4,3 M €↓
- 2011Annual accounts 201157,3 k €↑
- 2010Annual accounts 201037,4 k €↓
- 2009Annual accounts 200969,1 k €↓
- 2008Annual accounts 200873,8 k €↓
- 2007Annual accounts 200777,4 k €↓
- 2006Annual accounts 200678,3 k €
- 23/06/1994IncorporationCooperative company with limited liability