ACTIVE

REFERENCE MEDIA

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Financial year 2025 · closed on 31/12/2025

Net result

80,7 k €

+837.3% YoY

Gross margin

128,2 k €

+446.3% YoY

Equity

122,9 k €

+9.5% YoY

What does REFERENCE MEDIA do?

REFERENCE MEDIA is a Private limited company incorporated in 1995. Its main activity is: Public relations and communication activities. Its registered office is in Trooz.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0454.494.290

Incorporation

07/02/1995

Legal form

Private limited company

Registered office

Rue des Croisettes 88
4870 Trooz · WallonieSee on map

Contributed capital

18 592,01 €

Latest accounts

31/12/2025

Activities (NACE)

70210Public relations and communication activities· main 73300Advertising and market research 74401Other professional, scientific and technical activities 73110Advertising agencies 73110Advertising agencies

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

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	128,2 k €	+446%	23,5 k €	+143%	9,6 k €	-85.1%	64,7 k €	-29.0%	91,1 k €	+64.2%	55,5 k €	+0.7%	55,1 k €	+4890%	1,1 k €	-98.7%	88,2 k €	+222%	27,4 k €	+322%	6,5 k €	-24.2%	8,6 k €	-88.4%	73,9 k €	+78.3%	41,4 k €	-5.5%	43,9 k €	+2.4%	42,8 k €	-46.6%	80,2 k €	-22.9%	104 k €	+233%	31,2 k €	-51.7%	64,6 k €
EBITDA	127,8 k €	+914%	12,6 k €	+135%	-36,5 k €	-190%	40,5 k €	-51.4%	83,4 k €	+125%	37,1 k €	+167%	13,9 k €	+146%	-30,4 k €	-155%	55,6 k €	+8374%	656,6 €	+103%	-25,5 k €	+21.7%	-32,6 k €	-208%	30,1 k €	+1603%	1,8 k €	+205%	-1,7 k €	-126%	6,6 k €	-86.6%	49,1 k €	-38.7%	80,2 k €	+1525%	4,9 k €	-87.5%	39,4 k €
Operating result	112,8 k €	+1040%	9,9 k €	+124%	-40,5 k €	-213%	35,7 k €	-54.3%	78,1 k €	+141%	32,4 k €	+321%	7,7 k €	+121%	-36,5 k €	-173%	50,3 k €	+1922%	-2,8 k €	+90.9%	-30,5 k €	+21.1%	-38,6 k €	-251%	25,5 k €	+378%	-9,2 k €	+27.0%	-12,6 k €	-104%	-6,2 k €	-117%	36,1 k €	-46.5%	67,5 k €	+986%	-7,6 k €	-130%	25,7 k €
Net result	80,7 k €	+837%	8,6 k €	+121%	-41,2 k €	-290%	21,7 k €	-65.0%	61,8 k €	+110%	29,4 k €	+322%	7 k €	+118%	-37,8 k €	-178%	48,8 k €	+2279%	-2,2 k €	+93.2%	-32,8 k €	+18.1%	-40 k €	-296%	20,4 k €	+284%	-11,1 k €	+27.9%	-15,3 k €	-43.4%	-10,7 k €	-151%	20,8 k €	-47.6%	39,8 k €	+496%	-10 k €	-174%	13,6 k €
Balance sheet
Equity	122,9 k €	+9.5%	112,3 k €	+8.3%	103,7 k €	-28.5%	144,9 k €	+17.6%	123,2 k €	+101%	61,4 k €	+92.0%	32 k €	+27.9%	25 k €	-60.2%	62,9 k €	+346%	14,1 k €	-13.7%	16,3 k €	-66.7%	49,1 k €	-44.9%	89,1 k €	+29.7%	68,7 k €	-13.9%	79,7 k €	-16.1%	95,1 k €	-10.1%	105,8 k €	+9.1%	97 k €	+69.5%	57,2 k €	-14.9%	67,3 k €
Total assets	280,1 k €	+99.4%	140,5 k €	-0.1%	140,6 k €	-36.8%	222,6 k €	+4.6%	212,8 k €	+164%	80,6 k €	+40.0%	57,5 k €	+7.6%	53,5 k €	-67.7%	165,8 k €	+119%	75,9 k €	+55.5%	48,8 k €	-53.0%	103,9 k €	-58.9%	252,5 k €	+101%	125,7 k €	-14.1%	146,3 k €	-6.4%	156,3 k €	-30.9%	226,2 k €	+7.8%	209,8 k €	+52.4%	137,7 k €	-10.8%	154,4 k €
Cash	227,4 k €	+118%	104,1 k €	+23.0%	84,6 k €	-39.4%	139,7 k €	+21.7%	114,8 k €	+243%	33,5 k €	+169%	12,4 k €	+35.9%	9,1 k €	-89.4%	86 k €	+637%	11,7 k €	-51.4%	24 k €	-52.8%	50,8 k €	-67.2%	155 k €	+1163%	12,3 k €	-76.4%	51,9 k €	+90.5%	27,3 k €	+46.1%	18,7 k €	-78.2%	85,5 k €	+258%	23,9 k €	-47.8%	45,8 k €
Debts	157,2 k €	+457%	28,2 k €	-23.3%	36,8 k €	-52.6%	77,7 k €	-10.3%	86,6 k €	+351%	19,2 k €	-24.9%	25,6 k €	-10.3%	28,5 k €	-72.0%	101,8 k €	+64.9%	61,8 k €	+90.4%	32,4 k €	-40.8%	54,8 k €	-66.5%	163,4 k €	+186%	57,1 k €	-14.3%	66,6 k €	+11.0%	60 k €	-50.1%	120,2 k €	+6.5%	112,9 k €	+41.8%	79,6 k €	-8.6%	87,1 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	-28.6%	0,7 ETP	+16.7%	0,6 ETP	0.0%	0,6 ETP	+100%	0,3 ETP	-40.0%	0,5 ETP	+66.7%	0,3 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 31/12/2025 · 1 active · 1 ended

Active mandates

JOSE PIRON

Mandate

Active

Ended mandates

JOSE PIRON

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
ESPACE, CULTURE ET PROMOTION A.S.B.L .● Active	0472.427.117

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	31/08/2026	29/08/2025	29/08/2024	31/08/2023	11/10/2022	30/09/2021
General meeting	19/06/2026	27/06/2025	21/06/2024	16/05/2023	23/09/2022	23/09/2021
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
Micro model	31/12/2025	19/06/2026	31/08/2026	French	PDF
Micro model	31/12/2024	27/06/2025	29/08/2025	French	PDF
Micro model	31/12/2023	21/06/2024	29/08/2024	French	PDF
Micro model	31/12/2022	16/05/2023	31/08/2023	French	PDF
Micro model	31/12/2021	23/09/2022	11/10/2022	French	PDF
Micro model	31/12/2020	23/09/2021	30/09/2021	French	PDF
Micro model	31/12/2019	17/07/2020	31/08/2020	French	PDF
Micro model	31/12/2018	21/05/2019	30/09/2019	French	PDF
Micro model	31/12/2017	17/05/2018	18/06/2018	French	PDF
Micro model	31/12/2016	18/05/2017	19/06/2017	French	PDF
Abridged model	31/12/2015	19/05/2016	20/06/2016	French	PDF
Abridged model	31/12/2014	21/05/2015	22/06/2015	French	PDF
Abridged model	31/12/2013	22/05/2014	20/06/2014	French	PDF
Abridged model	31/12/2012	23/05/2013	17/06/2013	French	PDF
Abridged model	31/12/2011	24/05/2012	18/06/2012	French	PDF
Abridged model	31/12/2010	26/05/2011	27/05/2011	French	PDF
Abridged model	31/12/2009	27/05/2010	31/05/2010	French	PDF
Abridged model	31/12/2008	28/05/2009	28/05/2009	French	PDF
Abridged model	31/12/2007	29/05/2008	30/06/2008	French	PDF
Abridged model	31/12/2006	29/06/2007	09/07/2007	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 31/12/2025 · 1 active · 1 ended

Active mandates

JOSE PIRON

Mandate

Active

Ended mandates

JOSE PIRON

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Registered office04/04/2014
SIEGE SOCIAL
PDF
Registered office31/10/2008
SIEGE SOCIAL
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 202580,7 k €↑
2024
Annual accounts 20248,6 k €↑
2023
Annual accounts 2023-41,2 k €↓
2022
Annual accounts 202221,7 k €↓
2021
Annual accounts 202161,8 k €↑
2020
Annual accounts 202029,4 k €↑
2019
Annual accounts 20197 k €↑
2018
Annual accounts 2018-37,8 k €↓
2017
Annual accounts 201748,8 k €↑
2016
Annual accounts 2016-2,2 k €↑
2015
Annual accounts 2015-32,8 k €↑
2014
Annual accounts 2014-40 k €↓
2013
Annual accounts 201320,4 k €↑
2012
Annual accounts 2012-11,1 k €↑
2011
Annual accounts 2011-15,3 k €↓
2010
Annual accounts 2010-10,7 k €↓
2009
Annual accounts 200920,8 k €↓
2008
Annual accounts 200839,8 k €↑
2007
Annual accounts 2007-10 k €↓
2006
Annual accounts 200613,6 k €
07/02/1995
IncorporationPrivate 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

REFERENCE MEDIA

Overview

What does REFERENCE MEDIA do?

Trend over 20 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