ACTIVE

TEGARO

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Financial year 2025 · closed on 30/09/2025

Net result

66,1 k €

-60.3% YoY

Gross margin

186 k €

-36.8% YoY

Equity

1,6 M €

-3.6% YoY

Workforce

0,0 ETP

What does TEGARO do?

TEGARO is a Public limited company incorporated in 1994. Its registered office is in Eupen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0453.394.826

Incorporation

05/09/1994

Legal form

Public limited company

Registered office

Rue Haute 106
4700 Eupen · WallonieSee on map

Contributed capital

357 500,00 €

Latest accounts

30/09/2025

Average workforce

0,0 ETP

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	186 k €	-36.8%	294,4 k €	+74.3%	168,8 k €	+255%	47,6 k €	-65.7%	138,8 k €	-44.7%	250,8 k €	+684%	32 k €	-8.6%	35 k €	+32.7%	26,4 k €	+128%	11,6 k €	-68.2%	36,4 k €	-32.6%	54 k €	-60.6%	136,9 k €	+17.3%	116,7 k €	-14.4%	136,4 k €	-14.4%	159,3 k €	+21.8%	130,8 k €	-42.6%	227,7 k €
EBITDA	170,9 k €	-39.0%	280,2 k €	+71.6%	163,2 k €	+286%	42,3 k €	-68.3%	133,5 k €	-46.3%	248,7 k €	+2720%	8,8 k €	-29.6%	12,5 k €	+168%	4,7 k €	+139%	-12 k €	-189%	13,4 k €	-57.6%	31,6 k €	-72.8%	116 k €	+20.2%	96,5 k €	-17.2%	116,5 k €	-16.2%	138,9 k €	+24.3%	111,8 k €	-46.5%	208,9 k €
Operating result	103,2 k €	-52.1%	215,6 k €	+162%	82,4 k €	+123%	36,9 k €	-71.4%	129 k €	-40.1%	215,3 k €	+963%	-24,9 k €	+11.8%	-28,3 k €	+21.1%	-35,9 k €	+24.2%	-47,3 k €	-62.8%	-29,1 k €	-15.4%	-25,2 k €	-143%	58,2 k €	+61.6%	36 k €	-33.6%	54,2 k €	-26.1%	73,4 k €	+40.8%	52,1 k €	-60.9%	133,2 k €
Net result	66,1 k €	-60.3%	166,5 k €	+255%	46,9 k €	-26.9%	64,1 k €	-69.9%	212,7 k €	+37.7%	154,5 k €	+2151%	6,9 k €	+241%	-4,9 k €	+66.8%	-14,6 k €	-118%	80,5 k €	-66.4%	240 k €	+1370%	16,3 k €	-80.1%	82,2 k €	-10.8%	92,2 k €	+495%	15,5 k €	-22.3%	20 k €	+12.5%	17,7 k €	-74.0%	68,2 k €
Balance sheet
Equity	1,6 M €	-3.6%	1,6 M €	+9.2%	1,5 M €	+1.5%	1,5 M €	-0.4%	1,5 M €	+14.3%	1,3 M €	+13.7%	1,1 M €	+0.6%	1,1 M €	-0.4%	1,1 M €	-1.3%	1,1 M €	+7.6%	1,1 M €	+29.3%	817,9 k €	+2.0%	801,6 k €	+11.4%	719,3 k €	+14.7%	627,1 k €	+2.5%	611,6 k €	+3.4%	591,6 k €	+3.1%	573,9 k €
Total assets	2,5 M €	-0.4%	2,5 M €	+4.7%	2,4 M €	+42.9%	1,6 M €	+1.5%	1,6 M €	+9.5%	1,5 M €	+1.9%	1,5 M €	-1.7%	1,5 M €	-3.7%	1,5 M €	+0.8%	1,5 M €	+2.7%	1,5 M €	+17.0%	1,3 M €	-4.7%	1,3 M €	+0.6%	1,3 M €	+1.8%	1,3 M €	-3.1%	1,3 M €	+7.0%	1,3 M €	+5.7%	1,2 M €
Cash	286,5 k €	+0.5%	285,1 k €	+113%	134,1 k €	-78.7%	629,7 k €	-4.7%	660,7 k €	+115%	307,7 k €	+40.2%	219,4 k €	-2.4%	224,8 k €	-8.7%	246,2 k €	-34.7%	377 k €	+16.2%	324,5 k €	+456%	58,3 k €	-67.3%	178,6 k €	+387%	36,7 k €	+66.9%	22 k €	-6.2%	23,5 k €	-62.3%	62,1 k €	-30.9%	90 k €
Debts	773,6 k €	+8.4%	713,8 k €	-7.7%	773,4 k €	+823%	83,8 k €	+76.5%	47,5 k €	-44.6%	85,6 k €	-69.6%	281,6 k €	-4.3%	294,4 k €	-14.7%	345 k €	+9.8%	314,2 k €	-20.4%	394,5 k €	-9.0%	433,6 k €	-14.3%	506,2 k €	-10.7%	566,6 k €	-10.6%	633,7 k €	-8.1%	689,6 k €	+8.0%	638,7 k €	+11.1%	574,7 k €
Other
Workforce	0,0 ETP		0,0 ETP		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 5 active · 16 ended

Active mandates

AK P&M

Managing director · since 31 mars 2026 · until 31 mars 2032 · 0627.955.828

Represented by Klüttgens Andrea

Active

CK P&M

Managing director · since 31 mars 2026 · until 31 mars 2032 · 0627.956.224

Represented by Klüttgens Christoph

Active

Andrea Klüttgens

Managing director · since 01 décembre 2023 · until 31 mars 2026

Active

Christoph Klüttgens

Managing director · since 01 décembre 2023 · until 31 mars 2026

Active

Siegfried Klüttgens

Director · since 01 décembre 2023 · until 01 décembre 2029

Active

Ended mandates

Andrea Klüttgens

Managing director · since 01 décembre 2023 · until 01 décembre 2029

Ended

Christoph Klüttgens

Managing director · since 01 décembre 2023 · until 01 décembre 2029

Ended

Andrea Klüttgens

Managing director · since 15 décembre 2017 · until 15 décembre 2023

Ended

Christoph Klüttgens

Director · since 15 décembre 2017 · until 15 décembre 2023

Ended

At this address

Other companies at this address

Company	CBE no.
HENDRICHS & Cie● Active	0413.856.042

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	08/04/2026	29/04/2025	23/04/2024	03/03/2023	28/04/2022	25/03/2021
General meeting	31/03/2026	31/03/2025	13/02/2024	10/02/2023	11/02/2022	12/02/2021
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	30/09/2025	31/03/2026	08/04/2026	French	PDF
Abridged model	30/09/2024	31/03/2025	29/04/2025	French	PDF
Abridged model	30/09/2023	13/02/2024	23/04/2024	French	PDF
Abridged model	30/09/2022	10/02/2023	03/03/2023	French	PDF
Abridged model	30/09/2021	11/02/2022	28/04/2022	French	PDF
Abridged model	30/09/2020	12/02/2021	25/03/2021	French	PDF
Abridged model	30/09/2019	14/02/2020	30/04/2020	French	PDF
Abridged model	30/09/2018	08/02/2019	18/02/2019	French	PDF
Abridged model	30/09/2017	09/02/2018	03/04/2018	French	PDF
Abridged model	30/09/2016	10/02/2017	20/03/2017	French	PDF
Abridged model	30/09/2015	12/02/2016	29/03/2016	French	PDF
Abridged model	30/09/2014	13/02/2015	31/03/2015	French	PDF
Abridged model	30/09/2013	14/02/2014	08/05/2014	French	PDF
Abridged model	30/09/2012	08/02/2013	21/03/2013	French	PDF
Abridged model	30/09/2011	10/02/2012	16/03/2012	French	PDF
Abridged model	30/09/2010	11/02/2011	25/05/2011	French	PDF
Abridged model	30/09/2009	12/02/2010	12/05/2010	French	PDF
Abridged model	30/09/2008	13/02/2009	23/03/2009	French	PDF
Abridged model	30/09/2007	08/02/2008	19/03/2008	French	PDF
Abridged model	30/09/2006	09/02/2007	05/03/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 30/09/2025 · 5 active · 16 ended

Active mandates

AK P&M

Managing director · since 31 mars 2026 · until 31 mars 2032 · 0627.955.828

Represented by Klüttgens Andrea

Active

CK P&M

Managing director · since 31 mars 2026 · until 31 mars 2032 · 0627.956.224

Represented by Klüttgens Christoph

Active

Andrea Klüttgens

Managing director · since 01 décembre 2023 · until 31 mars 2026

Active

Christoph Klüttgens

Managing director · since 01 décembre 2023 · until 31 mars 2026

Active

Siegfried Klüttgens

Director · since 01 décembre 2023 · until 01 décembre 2029

Active

Ended mandates

Andrea Klüttgens

Managing director · since 01 décembre 2023 · until 01 décembre 2029

Ended

Christoph Klüttgens

Managing director · since 01 décembre 2023 · until 01 décembre 2029

Ended

Andrea Klüttgens

Managing director · since 15 décembre 2017 · until 15 décembre 2023

Ended

Christoph Klüttgens

Director · since 15 décembre 2017 · until 15 décembre 2023

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/05/2026
ENTLASSUNG - ERNENNUNG
PDF
Mandates15/02/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates02/08/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates16/01/2012
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Mandates24/12/2008
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates18/07/2003
ENTLASSUNG - ERNENNUNG - KAPITAL - AKTIEN - SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, ) - AENDERUNG RECHTSFORM
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 202566,1 k €↓
2024
Annual accounts 2024166,5 k €↑
2023
Annual accounts 202346,9 k €↓
2022
Annual accounts 202264,1 k €↓
2021
Annual accounts 2021212,7 k €↑
2019
Annual accounts 2019154,5 k €↑
2018
Annual accounts 20186,9 k €↑
2017
Annual accounts 2017-4,9 k €↑
2016
Annual accounts 2016-14,6 k €↓
2015
Annual accounts 201580,5 k €↓
2014
Annual accounts 2014240 k €↑
2013
Annual accounts 201316,3 k €↓
2012
Annual accounts 201282,2 k €↓
2011
Annual accounts 201192,2 k €↑
2010
Annual accounts 201015,5 k €↓
2009
Annual accounts 200920 k €↑
2008
Annual accounts 200817,7 k €↓
2007
Annual accounts 200768,2 k €
05/09/1994
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

TEGARO

Overview

What does TEGARO do?

Trend over 18 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