ACTIVE

CHEUNG

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Financial year 2025 · closed on 31/12/2025

Net result

71,2 k €

-25.5% YoY

Gross margin

536,8 k €

+3.8% YoY

Equity

347,4 k €

+25.8% YoY

Workforce

7,6 ETP

+38.2% YoY

What does CHEUNG do?

CHEUNG is a Private limited company incorporated in 1996. Its registered office is in Namur. It employs on average 7,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0456.998.474

Incorporation

05/01/1996

Legal form

Private limited company

Registered office

Chaussée de Liège(JB) 403
5100 Namur · WallonieSee on map

Contributed capital

18 592,01 €

Latest accounts

31/12/2025

Average workforce

7,6 ETP

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	536,8 k €	+3.8%	517 k €	+8.8%	475,1 k €	+41.0%	336,9 k €	+32.7%	253,8 k €	-12.6%	290,5 k €	-2.5%	297,9 k €	+10.9%	268,7 k €	+0.5%	267,3 k €	+16.5%	229,4 k €	+17.0%	196,1 k €	+2.6%	191,1 k €	-8.4%	208,7 k €	-11.7%	236,4 k €	+43.9%	164,3 k €	+49.3%	110 k €	-17.8%	133,9 k €	-2.6%	137,5 k €	+11.6%	123,2 k €	+29.1%	95,5 k €
EBITDA	212,8 k €	-17.4%	257,6 k €	+13.7%	226,5 k €	+131%	97,9 k €	-11.6%	110,8 k €	-44.5%	199,9 k €	+162%	76,3 k €	+19.7%	63,8 k €	+64.6%	38,7 k €	+36.4%	28,4 k €	-55.2%	63,3 k €	-35.3%	98 k €	-4.7%	102,8 k €	-23.3%	134 k €	+33.1%	100,6 k €	+83.4%	54,9 k €	-15.0%	64,5 k €	+103%	31,9 k €	-33.6%	48 k €	+27.1%	37,8 k €
Operating result	116,3 k €	-28.2%	161,9 k €	-0.1%	162 k €	+170%	60 k €	+53.0%	39,2 k €	-76.6%	167,5 k €	+299%	42 k €	+286%	10,9 k €	+216%	-9,3 k €	+58.5%	-22,5 k €	-202%	22 k €	-41.9%	37,8 k €	-16.7%	45,4 k €	-45.6%	83,4 k €	+11.6%	74,7 k €	+165%	28,2 k €	-15.5%	33,3 k €	+144%	13,6 k €	+37.0%	10 k €	+14056%	70,3 €
Net result	71,2 k €	-25.5%	95,6 k €	+0.1%	95,5 k €	+625%	13,2 k €	+39.4%	9,4 k €	-90.7%	102 k €	+303%	25,3 k €	+276%	-14,4 k €	+57.5%	-33,8 k €	+9.5%	-37,4 k €	-52.9%	-24,4 k €	-309%	11,7 k €	-49.8%	23,2 k €	-6.7%	24,9 k €	+0.3%	24,8 k €	+432%	-7,5 k €	-480%	2 k €	+29.4%	1,5 k €	+87.4%	813 €	-82.1%	4,6 k €
Balance sheet
Equity	347,4 k €	+25.8%	276,3 k €	+52.9%	180,7 k €	+38.8%	130,2 k €	+11.2%	117,1 k €	+8.8%	107,6 k €	+1818%	5,6 k €	+129%	-19,7 k €	-270%	-5,3 k €	-119%	28,5 k €	-56.7%	65,8 k €	-27.1%	90,3 k €	+14.8%	78,6 k €	+42.0%	55,3 k €	+81.8%	30,4 k €	+443%	5,6 k €	-57.2%	13,1 k €	+17.7%	11,1 k €	+15.9%	9,6 k €	+9.3%	8,8 k €
Total assets	618,4 k €	+2.9%	600,9 k €	+3.5%	580,5 k €	+63.3%	355,4 k €	-18.4%	435,7 k €	+24.7%	349,5 k €	+49.5%	233,8 k €	+19.4%	195,9 k €	-8.3%	213,6 k €	-4.4%	223,4 k €	-18.5%	274,1 k €	-17.8%	333,6 k €	+4.7%	318,6 k €	-5.6%	337,7 k €	+33.2%	253,5 k €	+14.4%	221,6 k €	-28.9%	311,8 k €	+44.4%	215,9 k €	-9.2%	237,7 k €	+18.8%	200,1 k €
Cash	192,9 k €	-1.5%	195,9 k €	-7.2%	211 k €	+108%	101,2 k €	-46.0%	187,5 k €	+11.4%	168,4 k €	+4228%	3,9 k €	-42.1%	6,7 k €	-49.8%	13,4 k €	+440%	2,5 k €	-25.9%	3,4 k €	-73.8%	12,8 k €	+324%	3 k €	-89.6%	29,1 k €	+18.2%	24,6 k €	+453%	4,5 k €	-80.9%	23,3 k €	+14.1%	20,5 k €	+340%	4,6 k €	-72.9%	17,1 k €
Debts	244,1 k €	-16.3%	291,7 k €	-20.0%	364,7 k €	+121%	164,7 k €	-36.2%	258,2 k €	+15.4%	223,6 k €	-0.5%	224,7 k €	+4.2%	215,6 k €	-1.5%	218,9 k €	+12.3%	194,9 k €	-6.4%	208,3 k €	-13.3%	240,3 k €	+0.1%	240 k €	-15.0%	282,3 k €	+26.6%	223,1 k €	+3.3%	216 k €	-27.7%	298,7 k €	+45.8%	204,8 k €	-10.2%	228,1 k €	+19.2%	191,4 k €
Other
Workforce	7,6 ETP	+38.2%	5,5 ETP	0.0%	5,5 ETP		–		–		–		–		–		–		6,1 ETP	+15.1%	5,3 ETP	+43.2%	3,7 ETP	+2.8%	3,6 ETP	+33.3%	2,7 ETP	+28.6%	2,1 ETP	-4.5%	2,2 ETP	-15.4%	2,6 ETP	-10.3%	2,9 ETP	+16.0%	2,5 ETP	0.0%	2,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Stephen Shi-Poon CHEUNG

Director

Active

Ended mandates

Lee Hing Fat

Manager

Ended

Shi Poon CHEUNG

Director

Ended

Shi Poon CHEUNG

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged 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	19/08/2026	28/08/2025	05/08/2024	25/08/2023	04/08/2022	25/08/2021
General meeting	12/06/2026	12/06/2025	13/06/2024	23/08/2023	09/06/2022	10/06/2021
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

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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	12/06/2026	19/08/2026	French	PDF
Abridged model	31/12/2024	12/06/2025	28/08/2025	French	PDF
Abridged model	31/12/2023	13/06/2024	05/08/2024	French	PDF
Micro model	31/12/2022	23/08/2023	25/08/2023	French	PDF
Micro model	31/12/2021	09/06/2022	04/08/2022	French	PDF
Micro model	31/12/2020	10/06/2021	25/08/2021	French	PDF
Micro model	31/12/2019	11/06/2020	27/08/2020	French	PDF
Micro model	31/12/2018	13/06/2019	29/08/2019	French	PDF
Micro model	31/12/2017	14/06/2018	27/08/2018	French	PDF
Abridged model	31/12/2016	08/06/2017	25/07/2017	French	PDF
Abridged model	31/12/2015	09/06/2016	03/08/2016	French	PDF
Abridged model	31/12/2014	11/06/2015	27/07/2015	French	PDF
Abridged model	31/12/2013	12/06/2014	20/08/2014	French	PDF
Abridged model	31/12/2012	13/06/2013	30/07/2013	French	PDF
Abridged model	31/12/2011	14/06/2012	13/07/2012	French	PDF
Abridged model	31/12/2010	09/06/2011	18/08/2011	French	PDF
Abridged model	31/12/2009	10/06/2010	09/07/2010	French	PDF
Abridged model	31/12/2008	11/06/2009	31/07/2009	French	PDF
Abridged model	31/12/2007	12/06/2008	27/08/2008	French	PDF
Abridged model	31/12/2006	14/06/2007	03/09/2007	French	PDF

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.

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 · 3 ended

Active mandates

Stephen Shi-Poon CHEUNG

Director

Active

Ended mandates

Lee Hing Fat

Manager

Ended

Shi Poon CHEUNG

Director

Ended

Shi Poon CHEUNG

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/12/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates05/08/2015
DEMISSIONS, NOMINATIONS
PDF
Mandates14/01/2009
DEMISSIONS, NOMINATIONS
PDF
Mandates27/02/2003
DEMISSIONS, NOMINATIONS
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 202571,2 k €↓
2024
Annual accounts 202495,6 k €↑
2023
Annual accounts 202395,5 k €↑
2022
Annual accounts 202213,2 k €↑
2021
Annual accounts 20219,4 k €↓
2020
Annual accounts 2020102 k €↑
2019
Annual accounts 201925,3 k €↑
2018
Annual accounts 2018-14,4 k €↑
2017
Annual accounts 2017-33,8 k €↑
2016
Annual accounts 2016-37,4 k €↓
2015
Annual accounts 2015-24,4 k €↓
2014
Annual accounts 201411,7 k €↓
2013
Annual accounts 201323,2 k €↓
2012
Annual accounts 201224,9 k €↑
2011
Annual accounts 201124,8 k €↑
2010
Annual accounts 2010-7,5 k €↓
2009
Annual accounts 20092 k €↑
2008
Annual accounts 20081,5 k €↑
2007
Annual accounts 2007813 €↓
2006
Annual accounts 20064,6 k €
05/01/1996
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

CHEUNG

Overview

What does CHEUNG do?

Trend over 20 financial years

Indicative valuation

Board of directors

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