ACTIVE

Finas

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Financial year 2025 · closed on 31/12/2025

Net result

22,5 k €

-83.7% YoY

Gross margin

60,4 k €

-62.1% YoY

Equity

858,8 k €

+2.7% YoY

What does Finas do?

Finas is a Private limited company incorporated in 1996. Its main activity is: Development of building projects. Its registered office is in Retie.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0459.160.782

Incorporation

06/11/1996

Legal form

Private limited company

Registered office

Merellaan 1
2470 Retie · FlandreSee on map

Contributed capital

412 445,93 €

Latest accounts

31/12/2025

Activities (NACE)

41101Development of building projects· main 68121Buying and selling of own real estate 65112Life insurance 65112Life insurance

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2017		2016		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	60,4 k €	-62.1%	159,5 k €	-20.6%	200,9 k €	+96.4%	102,3 k €	-54.7%	226,1 k €	+289%	58,2 k €	-94.8%	1,1 M €	+84.2%	608,6 k €	+12.8%	539,5 k €	-29.0%	760,3 k €	-13.3%	876,7 k €	+12.7%	777,8 k €	-3.8%	808,4 k €	-2.7%	830,8 k €	+16.6%	712,4 k €	-15.7%	845,1 k €	+62.0%	521,8 k €
EBITDA	58,2 k €	-60.5%	147,5 k €	-24.7%	195,9 k €	+747%	23,1 k €	-89.6%	222,5 k €	+300%	55,7 k €	-95.1%	1,1 M €	+720%	137,4 k €	+546%	-30,8 k €	-118%	168,4 k €	-50.8%	342,2 k €	+22.3%	279,9 k €	-17.6%	339,8 k €	-9.9%	377,3 k €	+31.6%	286,6 k €	-5.3%	302,5 k €	+122%	136 k €
Operating result	24,3 k €	-77.9%	109,7 k €	-32.6%	162,7 k €	+18026%	-907,6 €	-100%	196,3 k €	+720%	23,9 k €	-97.7%	1,1 M €	+1712%	58,2 k €	+133%	-176,2 k €	-216%	-55,8 k €	-142%	131,3 k €	+122%	59,1 k €	-38.4%	96 k €	-23.8%	126 k €	+167%	47,2 k €	+181%	16,8 k €	+116%	-104 k €
Net result	22,5 k €	-83.7%	137,7 k €	-2.9%	141,9 k €	+3932%	-3,7 k €	-102%	179,8 k €	+1175%	14,1 k €	-98.0%	714,9 k €	+2431%	28,2 k €	+115%	-184,2 k €	-107%	-89,1 k €	-289%	47,2 k €	+406%	-15,4 k €	-254%	10,1 k €	-72.9%	37,1 k €	+301%	-18,5 k €	+48.9%	-36,2 k €	+79.0%	-172,4 k €
Balance sheet
Equity	858,8 k €	+2.7%	836,3 k €	+2.2%	818,6 k €	+0.2%	816,7 k €	-0.5%	820,4 k €	+3.8%	790,6 k €	+1.8%	776,5 k €	+1161%	61,6 k €	+84.8%	33,3 k €	-82.9%	194,5 k €	-31.4%	283,5 k €	+7.5%	263,8 k €	-5.5%	279,3 k €	+3.7%	269,2 k €	+8.1%	249 k €	-6.9%	267,5 k €	-11.9%	303,6 k €
Total assets	1,5 M €	-10.9%	1,6 M €	+0.1%	1,6 M €	-11.9%	1,9 M €	+19.0%	1,6 M €	-15.7%	1,8 M €	-3.4%	1,9 M €	+193%	653 k €	+0.3%	651,1 k €	-19.8%	812,4 k €	-12.7%	930,4 k €	-11.7%	1,1 M €	-15.8%	1,3 M €	-18.8%	1,5 M €	+0.8%	1,5 M €	-10.8%	1,7 M €	-11.0%	1,9 M €
Cash	203,9 k €	-13.0%	234,3 k €	+9.3%	214,3 k €	+10.9%	193,3 k €	-57.0%	449,3 k €	+5.9%	424,2 k €	+29.9%	326,5 k €	+421%	62,7 k €	+982%	5,8 k €	+12.6%	5,1 k €	-93.6%	80,8 k €	+3452%	2,3 k €	-80.2%	11,5 k €	-89.0%	104,2 k €	+314%	25,2 k €	-19.6%	31,3 k €	-32.2%	46,2 k €
Debts	596,3 k €	-25.1%	796,2 k €	-2.0%	812,3 k €	-21.6%	1 M €	+40.6%	737,1 k €	-30.2%	1,1 M €	-7.0%	1,1 M €	+93.3%	587,7 k €	-4.3%	614,1 k €	+2.7%	598 k €	-4.7%	627,1 k €	-18.7%	771,6 k €	-19.2%	955,3 k €	-23.9%	1,3 M €	-1.2%	1,3 M €	-11.5%	1,4 M €	-11.0%	1,6 M €
Other
Workforce	–		–		–		–		–		–		–		8,3 ETP	-13.5%	9,6 ETP	-14.3%	11,2 ETP	+13.1%	9,9 ETP	+6.5%	9,3 ETP	-5.1%	9,8 ETP	+2.1%	9,6 ETP	+2.1%	9,4 ETP	-3.1%	9,7 ETP	+19.8%	8,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 16 ended

Active mandates

ZAKENKANTOOR MINNEN GEERT

Director · 0433.054.817

Represented by Geert Minnen

Active

Ended mandates

Emmat

Manager · since 28 mai 2010 · until 30 décembre 2014 · 0823.139.921

Represented by Gert Vanuytsel

Ended

Emmat

Manager · since 28 mai 2010 · 0823.139.921

Represented by Gert Vanuytsel

Ended

Gert Vanuytsel

Manager · since 21 décembre 2006

Ended

Ludo Verdonck

Manager · since 21 décembre 2006 · until 09 juillet 2014

Ended

At this address

Other companies at this address

Company	CBE no.
Finas Group● Active	0641.793.372
Nestor & Nuvo● Active	0438.763.068
Zakenkantoor Matteo Minnen● Active	1005.473.096
ZAKENKANTOOR MINNEN GEERT● Active	0433.054.817

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/12/2023	01/12/2022	01/12/2021	01/12/2020	01/12/2019
Closing of the financial year	31/12/2025	31/12/2024	30/11/2023	30/11/2022	30/11/2021	30/11/2020
Length of the financial year	12 months	13 months	12 months	12 months	12 months	12 months
Filing date	30/06/2026	30/06/2025	25/06/2024	29/06/2023	20/06/2022	09/06/2021
General meeting	25/05/2026	26/05/2025	27/05/2024	30/05/2023	30/05/2022	31/05/2021
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	25/05/2026	30/06/2026	Dutch	PDF
Micro model	31/12/2024	26/05/2025	30/06/2025	Dutch	PDF
Micro modelCorrection	30/11/2023	27/05/2024	25/06/2024	Dutch	PDF
Micro model	30/11/2023	27/05/2024	12/06/2024	Dutch	PDF
Micro model	30/11/2022	30/05/2023	29/06/2023	Dutch	PDF
Abridged model	30/11/2021	30/05/2022	20/06/2022	Dutch	PDF
Abridged model	30/11/2020	31/05/2021	09/06/2021	Dutch	PDF
Abridged model	30/11/2019	25/05/2020	17/07/2020	Dutch	PDF
Abridged model	31/12/2017	25/05/2018	29/08/2018	Dutch	PDF
Abridged model	31/12/2016	26/05/2017	28/08/2017	Dutch	PDF
Abridged model	31/12/2015	27/05/2016	04/08/2016	Dutch	PDF
Abridged model	31/12/2014	29/05/2015	15/06/2015	Dutch	PDF
Abridged model	31/12/2013	30/05/2014	27/06/2014	Dutch	PDF
Abridged model	31/12/2012	31/05/2013	19/06/2013	Dutch	PDF
Abridged model	31/12/2011	25/05/2012	01/06/2012	Dutch	PDF
Abridged model	31/12/2010	27/05/2011	29/06/2011	Dutch	PDF
Abridged model	31/12/2009	28/05/2010	08/06/2010	Dutch	PDF
Abridged model	31/12/2008	29/05/2009	13/06/2009	Dutch	PDF
Abridged model	30/09/2007	28/03/2008	16/04/2008	Dutch	PDF
Abridged model	30/09/2006	30/03/2007	30/03/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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.

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 · 16 ended

Active mandates

ZAKENKANTOOR MINNEN GEERT

Director · 0433.054.817

Represented by Geert Minnen

Active

Ended mandates

Emmat

Manager · since 28 mai 2010 · until 30 décembre 2014 · 0823.139.921

Represented by Gert Vanuytsel

Ended

Emmat

Manager · since 28 mai 2010 · 0823.139.921

Represented by Gert Vanuytsel

Ended

Gert Vanuytsel

Manager · since 21 décembre 2006

Ended

Ludo Verdonck

Manager · since 21 décembre 2006 · until 09 juillet 2014

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other19/06/2024
BOEKJAAR
PDF
Mandates29/01/2024
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Registered office03/08/2023
MAATSCHAPPELIJKE ZETEL
PDF
Other18/12/2018
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DOEL - BOEKJAAR
PDF
Restructuring02/10/2015
BENAMING - KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring18/06/2015
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates14/01/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/07/2014
ONTSLAGEN - BENOEMINGEN
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 202522,5 k €↓
2024
Annual accounts 2024137,7 k €↓
2023
Annual accounts 2023141,9 k €↑
2022
Annual accounts 2022-3,7 k €↓
2021
Annual accounts 2021179,8 k €↑
2020
Annual accounts 202014,1 k €↓
2019
Annual accounts 2019714,9 k €↑
2017
Annual accounts 201728,2 k €↑
2016
Annual accounts 2016-184,2 k €↓
2016
Name changeFinas
2014
Annual accounts 2014-89,1 k €↓
2013
Annual accounts 201347,2 k €↑
2012
Annual accounts 2012-15,4 k €↓
2011
Annual accounts 201110,1 k €↓
2010
Annual accounts 201037,1 k €↑
2009
Annual accounts 2009-18,5 k €↑
2008
Annual accounts 2008-36,2 k €↑
2007
Annual accounts 2007-172,4 k €
2007
Name changefin@S
06/11/1996
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

Finas

Overview

What does Finas do?

Trend over 17 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