ACTIVE

SHETLAND

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Financial year 2025 · closed on 31/12/2025

Net result

65,6 k €

-30.8% YoY

Gross margin

184,4 k €

-18.5% YoY

Equity

923,8 k €

+7.6% YoY

What does SHETLAND do?

SHETLAND is a Private limited company incorporated in 1997. Its registered office is in Watermael-Boitsfort.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0460.036.653

Incorporation

18/02/1997

Legal form

Private limited company

Registered office

Rue de l'Elan 50
1170 Watermael-Boitsfort · BruxellesSee on map

Contributed capital

12 400,00 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	184,4 k €	-18.5%	226,2 k €	+15.8%	195,3 k €	-40.3%	327,1 k €	+30.8%	250,1 k €	-7.2%	269,6 k €	+42.2%	189,5 k €	-9.7%	209,8 k €	-33.6%	315,9 k €	+9.2%	289,2 k €	+66.9%	173,3 k €	-14.7%	203,2 k €	+159%	78,6 k €	-0.0%	78,6 k €	-26.7%	107,2 k €	-7.5%	115,9 k €	-10.5%	129,5 k €	-13.5%	149,7 k €
EBITDA	183,1 k €	-18.6%	225 k €	+16.0%	193,9 k €	-40.5%	325,9 k €	+30.9%	249 k €	-7.0%	267,8 k €	+41.9%	188,7 k €	-9.7%	209 k €	-33.7%	315,1 k €	+10.1%	286,1 k €	+68.8%	169,5 k €	-15.9%	201,5 k €	+166%	75,9 k €	-0.6%	76,3 k €	-27.6%	105,5 k €	-8.0%	114,6 k €	-10.2%	127,6 k €	-13.7%	147,9 k €
Operating result	181,6 k €	-19.0%	224,1 k €	+20.6%	185,8 k €	-41.5%	317,4 k €	+32.0%	240,5 k €	-7.1%	258,9 k €	+44.4%	179,2 k €	-13.6%	207,4 k €	-33.8%	313 k €	+9.9%	284,8 k €	+92.1%	148,3 k €	-18.5%	181,9 k €	+237%	54 k €	+18.5%	45,6 k €	-37.5%	72,9 k €	-13.3%	84 k €	-12.7%	96,2 k €	-15.9%	114,4 k €
Net result	65,6 k €	-30.8%	94,8 k €	+72.5%	54,9 k €	-64.1%	152,9 k €	+29.9%	117,7 k €	-14.8%	138,1 k €	+82.7%	75,6 k €	+33.8%	56,5 k €	-63.3%	154,1 k €	+67.6%	91,9 k €	+69.7%	54,2 k €	-34.8%	83,1 k €	+117%	38,3 k €	+26.0%	30,4 k €	-35.7%	47,3 k €	-7.1%	50,9 k €	-11.5%	57,6 k €	-22.7%	74,5 k €
Balance sheet
Equity	923,8 k €	+7.6%	858,2 k €	+0.3%	855,4 k €	+6.9%	800,4 k €	-0.6%	805,3 k €	-2.4%	824,7 k €	+20.0%	687,4 k €	+12.2%	612,6 k €	+10.0%	556,8 k €	+38.3%	402,7 k €	+29.6%	310,8 k €	+21.1%	256,7 k €	+47.8%	173,6 k €	+28.3%	135,3 k €	+29.0%	104,8 k €	-33.4%	157,5 k €	-25.5%	211,6 k €	-29.7%	301 k €
Total assets	1 M €	+17.0%	881,9 k €	-2.2%	902,2 k €	+7.9%	836,3 k €	-1.5%	849,2 k €	-0.8%	856,5 k €	+14.0%	751,4 k €	+13.4%	662,4 k €	+8.8%	608,9 k €	+37.5%	442,8 k €	+30.1%	340,3 k €	+10.0%	309,3 k €	+35.6%	228,1 k €	+6.8%	213,7 k €	-29.5%	303,3 k €	-10.4%	338,4 k €	+12.5%	300,9 k €	-27.1%	412,9 k €
Cash	107,1 k €	+505%	17,7 k €	-67.0%	53,6 k €	+80.7%	29,7 k €	-34.2%	45,1 k €	-61.3%	116,5 k €	+75.8%	66,3 k €	-39.3%	109,1 k €	-9.9%	121,1 k €	+43.3%	84,5 k €	+32.3%	63,9 k €	-33.2%	95,7 k €	-0.4%	96,1 k €	+10.9%	86,7 k €	+7.8%	80,4 k €	-29.5%	114,1 k €	+34.8%	84,7 k €	+119%	38,6 k €
Debts	107,8 k €	+355%	23,7 k €	-49.4%	46,8 k €	+30.7%	35,8 k €	-18.5%	43,9 k €	+38.6%	31,7 k €	+1769%	1,7 k €	-96.6%	49,7 k €	-4.5%	52,1 k €	+29.9%	40,1 k €	+36.0%	29,5 k €	-44.0%	52,7 k €	-3.4%	54,5 k €	-30.4%	78,3 k €	-60.5%	198,1 k €	+9.8%	180,5 k €	+103%	88,9 k €	-20.6%	111,9 k €

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 · 2 ended

Active mandates

Denis Lemaitre

Manager · since 01 janvier 2007

Active

Ended mandates

Denis LEMAITRE

Manager · since 05 février 1997 · until 05 février 2007

Ended

Denis Lemaitre

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
SOFICARE● Active	0896.213.187

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	31/08/2024	30/08/2023	25/08/2022	26/07/2021
General meeting	06/06/2026	07/06/2025	01/06/2024	03/06/2023	04/06/2022	05/06/2021
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
Micro model	31/12/2025	06/06/2026	31/08/2026	French	PDF
Micro model	31/12/2024	07/06/2025	29/08/2025	French	PDF
Micro model	31/12/2023	01/06/2024	31/08/2024	French	PDF
Micro model	31/12/2022	03/06/2023	30/08/2023	French	PDF
Micro model	31/12/2021	04/06/2022	25/08/2022	French	PDF
Micro model	31/12/2020	05/06/2021	26/07/2021	French	PDF
Micro model	31/12/2019	06/06/2020	10/08/2020	French	PDF
Micro model	31/12/2018	01/06/2019	12/08/2019	French	PDF
Micro model	31/12/2017	02/06/2018	20/06/2018	French	PDF
Micro model	31/12/2016	03/06/2017	28/06/2017	French	PDF
Abridged model	31/12/2015	04/06/2016	29/08/2016	French	PDF
Abridged model	31/12/2014	06/06/2015	29/06/2015	French	PDF
Abridged model	31/12/2013	07/06/2014	10/06/2014	French	PDF
Abridged model	31/12/2012	01/06/2013	30/08/2013	French	PDF
Abridged model	31/12/2011	02/06/2012	31/08/2012	French	PDF
Abridged model	31/12/2010	04/06/2011	26/08/2011	French	PDF
Abridged model	31/12/2009	05/06/2010	03/08/2010	French	PDF
Abridged model	31/12/2008	06/06/2009	25/08/2009	French	PDF
Abridged model	31/12/2007	07/06/2008	07/08/2008	French	PDF
Abridged model	31/12/2006	02/06/2007	29/08/2007	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 · 2 ended

Active mandates

Denis Lemaitre

Manager · since 01 janvier 2007

Active

Ended mandates

Denis LEMAITRE

Manager · since 05 février 1997 · until 05 février 2007

Ended

Denis Lemaitre

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates31/10/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - OBJET - DEMISSIONS, NOMINATIONS
PDF
Capital / shares02/12/2005
CAPITAL, ACTIONS - ASSEMBLEE GENERALE - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 202565,6 k €↓
2024
Annual accounts 202494,8 k €↑
2023
Annual accounts 202354,9 k €↓
2022
Annual accounts 2022152,9 k €↑
2021
Annual accounts 2021117,7 k €↓
2020
Annual accounts 2020138,1 k €↑
2019
Annual accounts 201975,6 k €↑
2018
Annual accounts 201856,5 k €↓
2017
Annual accounts 2017154,1 k €↑
2016
Annual accounts 201691,9 k €↑
2015
Annual accounts 201554,2 k €↓
2014
Annual accounts 201483,1 k €↑
2013
Annual accounts 201338,3 k €↑
2012
Annual accounts 201230,4 k €↓
2011
Annual accounts 201147,3 k €↓
2010
Annual accounts 201050,9 k €↓
2009
Annual accounts 200957,6 k €↓
2008
Annual accounts 200874,5 k €
18/02/1997
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

SHETLAND

Overview

What does SHETLAND 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