COURAGE
0453.284.958 · rovalta.com · 22/09/2026
ACTIVE
COURAGE
Financial year 2025 · closed on 31/12/2025
Net result
-41,4 k €
-62.6% YoY
Gross margin
36,3 k €
-62.6% YoY
Equity
299,5 k €
-12.1% YoY
Overview
What does COURAGE do?
COURAGE is a Private limited company incorporated in 1994. Its registered office is in Kasterlee.
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0453.284.958
Incorporation
22/08/1994
Legal form
Private limited company
Registered office
Turnhoutsebaan 184
2460 Kasterlee · FlandreSee on map
2460 Kasterlee · FlandreSee on map
Contributed capital
318 600,00 €
Latest accounts
31/12/2025
Joint committees (1)
- 314
Signals
Solid equityHealthy social debts
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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 | 36,3 k € | -62.6% | 96,9 k € | -52.8% | 205,3 k € | +140% | 85,4 k € | -10.5% | 95,5 k € | -63.0% | 258,1 k € | -21.3% | 327,8 k € | +3.1% | 318,1 k € | +4.6% | 304 k € | +16.6% | 260,8 k € | +21.7% | 214,3 k € | +4.5% | 205 k € | +18.7% | 172,6 k € | -7.4% | 186,4 k € | -5.1% | 196,3 k € | +8.2% | 181,5 k € | +59.9% | 113,5 k € | -4.3% | 118,7 k € |
| EBITDA | -1,1 k € | -107% | 16,3 k € | -89.0% | 147,6 k € | +262% | 40,8 k € | -42.0% | 70,4 k € | -17.2% | 85 k € | -32.0% | 124,9 k € | -14.8% | 146,7 k € | -2.6% | 150,6 k € | +14.8% | 131,2 k € | +23.5% | 106,3 k € | -4.9% | 111,7 k € | +10.1% | 101,4 k € | -12.6% | 116,1 k € | -4.2% | 121,1 k € | +45.3% | 83,4 k € | +20.4% | 69,2 k € | -14.0% | 80,5 k € |
| Operating result | -39,1 k € | -72.8% | -22,6 k € | -121% | 109 k € | +1812% | -6,4 k € | -126% | 24,1 k € | +121% | 10,9 k € | -75.2% | 44 k € | +67.6% | 26,3 k € | -49.9% | 52,4 k € | +18.4% | 44,3 k € | +119% | 20,2 k € | -33.9% | 30,5 k € | +84.1% | 16,6 k € | -45.2% | 30,3 k € | -29.3% | 42,8 k € | +592% | 6,2 k € | -59.9% | 15,4 k € | -32.6% | 22,8 k € |
| Net result | -41,4 k € | -62.6% | -25,5 k € | -131% | 83,4 k € | +646% | -15,3 k € | -208% | 14,2 k € | +475% | -3,8 k € | -123% | 16,5 k € | +215% | 5,2 k € | -82.6% | 30,1 k € | +35.2% | 22,2 k € | +1701% | -1,4 k € | -115% | 9,2 k € | +282% | -5,1 k € | -225% | 4,1 k € | -71.0% | 14 k € | +165% | -21,5 k € | -323% | -5,1 k € | -1194% | 466,2 € |
| Balance sheet | |||||||||||||||||||||||||||||||||||
| Equity | 299,5 k € | -12.1% | 340,9 k € | -6.9% | 366,4 k € | +29.5% | 283 k € | -5.1% | 298,3 k € | +2.1% | 292,3 k € | +7544% | -3,9 k € | +80.7% | -20,4 k € | +20.4% | -25,6 k € | +54.0% | -55,7 k € | +28.5% | -77,9 k € | -1.8% | -76,6 k € | +10.8% | -85,8 k € | -6.3% | -80,7 k € | +4.8% | -84,8 k € | +14.2% | -98,8 k € | -27.9% | -77,3 k € | -7.1% | -72,2 k € |
| Total assets | 506,2 k € | -19.2% | 626,4 k € | +0.3% | 624,6 k € | -6.9% | 671,2 k € | -8.0% | 729,8 k € | -16.6% | 874,7 k € | +36.7% | 640 k € | -11.9% | 726,7 k € | -2.0% | 741,2 k € | +74.2% | 425,6 k € | -7.8% | 461,7 k € | -7.4% | 498,7 k € | -9.6% | 551,7 k € | -4.5% | 577,5 k € | -5.3% | 609,6 k € | -5.0% | 641,6 k € | +51.9% | 422,3 k € | -6.6% | 452,3 k € |
| Cash | 9 k € | -91.8% | 109,4 k € | +565% | 16,4 k € | +25.6% | 13,1 k € | -73.7% | 49,8 k € | +104% | 24,4 k € | -71.2% | 84,7 k € | +58.1% | 53,6 k € | -44.3% | 96,2 k € | +122% | 43,3 k € | +41.7% | 30,6 k € | -62.0% | 80,5 k € | -17.2% | 97,2 k € | +47.2% | 66 k € | +11.9% | 59 k € | +168% | 22 k € | -0.1% | 22,1 k € | -7.4% | 23,8 k € |
| Debts | 206,7 k € | -27.6% | 285,4 k € | +10.5% | 258,2 k € | -33.5% | 388,2 k € | -10.0% | 431,5 k € | -25.9% | 582,4 k € | -9.6% | 644 k € | -13.8% | 747,1 k € | -2.6% | 766,8 k € | +59.3% | 481,3 k € | -10.8% | 539,6 k € | -5.9% | 573,2 k € | -10.1% | 637,4 k € | -3.2% | 658,3 k € | -5.2% | 694,4 k € | -6.2% | 740,4 k € | +48.4% | 499 k € | -4.8% | 523,9 k € |
| Other | |||||||||||||||||||||||||||||||||||
| Workforce | – | – | – | – | – | – | – | – | 4,8 ETP | +37.1% | 3,5 ETP | -14.6% | 4,1 ETP | +13.9% | 3,6 ETP | +44.0% | 2,5 ETP | -7.4% | 2,7 ETP | -27.0% | 3,7 ETP | -19.6% | 4,6 ETP | +15.0% | 4,0 ETP | +33.3% | 3,0 ETP | ||||||||
Estimate
Indicative valuation
As an indication, this company is worth
between 0 € and 100 k€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 1 active · 3 ended
Active mandates
Annick Van Gestel
ActiveEnded mandates
Annick Van Gestel
EndedAnnick VAN GESTEL
EndedAnnick Van Gestel
EndedAt this address
Other companies at this address
| Company | CBE no. |
|---|---|
DR. EMILIE SUDRAUD● Active | 0628.883.068 |
Financials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Micro model | Micro model | Micro model | Micro model | Micro model | Micro 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 | 02/06/2026 | 02/06/2025 | 10/06/2024 | 02/06/2023 | 02/06/2022 | 10/06/2021 |
| General meeting | 01/06/2026 | 01/06/2025 | 03/06/2024 | 01/06/2023 | 01/06/2022 | 01/06/2021 |
| 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
20 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Micro model | 31/12/2025 | 01/06/2026 | 02/06/2026 | Dutch | |
| Micro model | 31/12/2024 | 01/06/2025 | 02/06/2025 | Dutch | |
| Micro model | 31/12/2023 | 03/06/2024 | 10/06/2024 | Dutch | |
| Micro model | 31/12/2022 | 01/06/2023 | 02/06/2023 | Dutch | |
| Micro model | 31/12/2021 | 01/06/2022 | 02/06/2022 | Dutch | |
| Micro model | 31/12/2020 | 01/06/2021 | 10/06/2021 | Dutch | |
| Micro model | 31/12/2019 | 11/08/2020 | 10/09/2020 | Dutch | |
| Micro model | 31/12/2018 | 01/06/2019 | 26/07/2019 | Dutch | |
| Micro model | 31/12/2017 | 01/06/2018 | 01/06/2018 | Dutch | |
| Micro model | 31/12/2016 | 01/06/2017 | 30/06/2017 | Dutch | |
| Abridged model | 31/12/2015 | 01/06/2016 | 09/08/2016 | Dutch | |
| Abridged model | 31/12/2014 | 01/06/2015 | 01/06/2015 | Dutch | |
| Abridged model | 31/12/2013 | 01/06/2014 | 03/07/2014 | Dutch | |
| Abridged model | 31/12/2012 | 01/06/2013 | 28/06/2013 | Dutch | |
| Abridged model | 31/12/2011 | 01/06/2012 | 10/07/2012 | Dutch | |
| Abridged model | 31/12/2010 | 01/06/2011 | 27/06/2011 | Dutch | |
| Abridged model | 31/12/2009 | 01/06/2010 | 01/07/2010 | Dutch | |
| Abridged model | 31/12/2008 | 01/06/2009 | 06/07/2009 | Dutch | |
| Abridged model | 31/12/2007 | 01/06/2008 | 28/07/2008 | Dutch | |
| Abridged model | 31/12/2006 | 01/06/2007 | 22/06/2007 | Dutch |
Valuation
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.
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 · 1 active · 3 ended
Active mandates
Annick Van Gestel
ActiveEnded mandates
Annick Van Gestel
EndedAnnick VAN GESTEL
EndedAnnick Van Gestel
EndedShareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
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 2025-41,4 k €↓
- 2024Annual accounts 2024-25,5 k €↓
- 2023Annual accounts 202383,4 k €↑
- 2022Annual accounts 2022-15,3 k €↓
- 2021Annual accounts 202114,2 k €↑
- 2018Annual accounts 2018-3,8 k €↓
- 2017Annual accounts 201716,5 k €↑
- 2016Annual accounts 20165,2 k €↓
- 2015Annual accounts 201530,1 k €↑
- 2014Annual accounts 201422,2 k €↑
- 2013Annual accounts 2013-1,4 k €↓
- 2012Annual accounts 20129,2 k €↑
- 2011Annual accounts 2011-5,1 k €↓
- 2010Annual accounts 20104,1 k €↓
- 2009Annual accounts 200914 k €↑
- 2008Annual accounts 2008-21,5 k €↓
- 2007Annual accounts 2007-5,1 k €↓
- 2006Annual accounts 2006466,2 €
- 22/08/1994IncorporationPrivate limited company