ACTIVE

Minrad

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Financial year 2025 · closed on 31/12/2025

Net result

92,8 k €

-43.1% YoY

Gross margin

259,9 k €

-15.3% YoY

Equity

428,3 k €

-12.9% YoY

What does Minrad do?

Minrad is a Private limited company incorporated in 1997. Its main activity is: Other human health activities. Its registered office is in Gesves.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0460.073.968

Incorporation

24/02/1997

Legal form

Private limited company

Registered office

Rue des Deux Chênes 30
5340 Gesves · WallonieSee on map

Contributed capital

12 400,00 €

Latest accounts

31/12/2025

Activities (NACE)

86901Other human health activities· main 86910Other human health activities 86109Hospital activities 86109Hospital activities

Joint committees (2)

330
33004

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	259,9 k €	-15.3%	306,7 k €	+5.8%	289,8 k €	+21.6%	238,4 k €	+3.4%	230,5 k €	-26.8%	314,8 k €	+11.2%	283,1 k €	+11.9%	253 k €	-13.4%	292,1 k €	+32.7%	220 k €	-7.4%	237,5 k €	-4.7%	249,2 k €	+7.6%	231,7 k €	-6.6%	248,1 k €	-5.3%	262 k €	+6.9%	245 k €	+15.5%	212,2 k €	+21.8%	174,2 k €
EBITDA	131,4 k €	-30.0%	187,7 k €	+37.9%	136,2 k €	+63.9%	83,1 k €	-5.1%	87,5 k €	-50.1%	175,6 k €	+20.3%	146 k €	+5.8%	137,9 k €	-22.0%	176,8 k €	+67.4%	105,6 k €	-14.0%	122,8 k €	-7.3%	132,5 k €	-1.5%	134,5 k €	-23.7%	176,3 k €	-16.4%	210,9 k €	+14.3%	184,5 k €	+23.5%	149,3 k €	+24.3%	120,2 k €
Operating result	116,3 k €	-31.2%	169 k €	+46.5%	115,4 k €	+233%	34,6 k €	-13.3%	39,9 k €	-67.9%	124,4 k €	+23.9%	100,4 k €	+9.2%	91,9 k €	-25.8%	123,9 k €	+121%	56,1 k €	-9.2%	61,8 k €	-22.0%	79,2 k €	+1.5%	78,1 k €	-27.8%	108,1 k €	-25.1%	144,3 k €	+44.6%	99,8 k €	+79.2%	55,7 k €	+211%	17,9 k €
Net result	92,8 k €	-43.1%	163,3 k €	+235%	48,7 k €	+122%	21,9 k €	-22.9%	28,4 k €	-68.4%	90 k €	+48.5%	60,6 k €	+7.8%	56,2 k €	-24.2%	74,2 k €	+123%	33,2 k €	-10.2%	37 k €	-23.6%	48,4 k €	+4.1%	46,5 k €	-29.5%	65,9 k €	-26.3%	89,5 k €	+40.2%	63,9 k €	+97.3%	32,4 k €	+189%	11,2 k €
Balance sheet
Equity	428,3 k €	-12.9%	491,5 k €	+49.7%	328,2 k €	-4.7%	344,4 k €	-9.1%	378,8 k €	+8.9%	347,7 k €	+15.6%	300,7 k €	+25.3%	240,1 k €	+30.6%	183,8 k €	+67.6%	109,7 k €	+228%	33,5 k €	-74.1%	129,3 k €	+59.8%	80,9 k €	+135%	34,4 k €	-81.7%	187,5 k €	+91.4%	97,9 k €	+187%	34,1 k €	-81.7%	186,7 k €
Total assets	504,6 k €	-11.1%	567,4 k €	+24.5%	455,6 k €	-4.9%	479 k €	+1.4%	472,5 k €	-4.7%	495,8 k €	+36.5%	363,3 k €	+5.3%	345,1 k €	+8.7%	317,5 k €	+10.1%	288,4 k €	-15.9%	342,9 k €	+31.9%	259,9 k €	-11.6%	294 k €	-24.9%	391,3 k €	-10.0%	434,9 k €	+16.2%	374,3 k €	-31.2%	543,8 k €	-13.3%	626,9 k €
Cash	194,7 k €	-19.4%	241,6 k €	+73.7%	139,1 k €	-15.7%	164,9 k €	+14.0%	144,7 k €	+25.5%	115,3 k €	-9.2%	126,9 k €	+22.7%	103,5 k €	-27.4%	142,6 k €	+644%	19,2 k €	-12.9%	22 k €	+64.6%	13,4 k €	-7.0%	14,4 k €	+50.0%	9,6 k €	+59.3%	6 k €	-55.5%	13,5 k €	-41.9%	23,3 k €	+48.8%	15,6 k €
Debts	76,4 k €	+1.9%	74,9 k €	-40.7%	126,3 k €	-4.4%	132,2 k €	+42.0%	93,1 k €	-36.2%	146 k €	+135%	62 k €	-40.6%	104,3 k €	-16.0%	124,2 k €	-29.4%	175,8 k €	-42.8%	307,5 k €	+158%	119,2 k €	-30.6%	171,7 k €	-51.2%	351,6 k €	+43.8%	244,5 k €	-8.3%	266,6 k €	-47.3%	506,2 k €	+36.5%	370,9 k €
Other
Workforce	–		–		–		–		–		–		–		–		2,2 ETP	0.0%	2,2 ETP	0.0%	2,2 ETP	0.0%	2,2 ETP	0.0%	2,2 ETP	+57.1%	1,4 ETP	+7.7%	1,3 ETP	-13.3%	1,5 ETP	-25.0%	2,0 ETP	+5.3%	1,9 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 · 2 active · 9 ended

Active mandates

Fabienne LESCART

Director · since 23 mars 2006

Active

Rudy Briquet

Director · since 18 février 1997

Active

Ended mandates

FABIENNE LESCART

Manager · since 18 février 2017 · until 18 février 2023

Ended

RUDY BRIQUET

Manager · since 18 février 2017 · until 18 février 2023

Ended

FABIENNE LESCART

Manager · since 15 février 2017

Ended

FABIENNE LESCART

Manager · since 23 mars 2006 · until 18 février 2017

Ended

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	30/06/2026	10/10/2025	04/10/2024	29/08/2023	19/10/2022	30/09/2021
General meeting	15/05/2026	29/08/2025	30/06/2024	30/06/2023	30/06/2022	30/09/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	15/05/2026	30/06/2026	French	PDF
Micro model	31/12/2024	29/08/2025	10/10/2025	French	PDF
Micro model	31/12/2023	30/06/2024	04/10/2024	French	PDF
Micro model	31/12/2022	30/06/2023	29/08/2023	French	PDF
Micro model	31/12/2021	30/06/2022	19/10/2022	French	PDF
Micro model	31/12/2020	30/09/2021	30/09/2021	French	PDF
Micro model	31/12/2019	08/09/2020	08/10/2020	French	PDF
Micro modelCorrection	31/12/2018	04/11/2019	13/01/2020	French	PDF
Micro model	31/12/2018	21/06/2019	21/06/2019	French	PDF
Micro model	31/12/2017	28/05/2018	05/06/2018	French	PDF
Micro model	31/12/2016	19/05/2017	20/07/2017	French	PDF
Abridged model	31/12/2015	20/05/2016	31/08/2016	French	PDF
Abridged model	31/12/2014	15/05/2015	27/05/2015	French	PDF
Abridged model	31/12/2013	16/05/2014	29/08/2014	French	PDF
Abridged model	31/12/2012	07/06/2013	04/07/2013	French	PDF
Abridged model	31/12/2011	30/06/2012	20/07/2012	French	PDF
Abridged model	31/12/2010	20/05/2011	26/05/2011	French	PDF
Abridged model	31/12/2009	30/06/2010	01/07/2010	French	PDF
Abridged model	31/12/2008	30/06/2009	30/07/2009	French	PDF
Abridged model	31/12/2007	16/05/2008	25/06/2008	French	PDF
Abridged model	31/12/2006	18/05/2007	22/06/2007	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 · 2 active · 9 ended

Active mandates

Fabienne LESCART

Director · since 23 mars 2006

Active

Rudy Briquet

Director · since 18 février 1997

Active

Ended mandates

FABIENNE LESCART

Manager · since 18 février 2017 · until 18 février 2023

Ended

RUDY BRIQUET

Manager · since 18 février 2017 · until 18 février 2023

Ended

FABIENNE LESCART

Manager · since 15 février 2017

Ended

FABIENNE LESCART

Manager · since 23 mars 2006 · until 18 février 2017

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates18/10/2023
MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Capital / shares19/02/2018
CAPITAL, ACTIONS
PDF
Mandates29/06/2017
DEMISSIONS, NOMINATIONS
PDF
Capital / shares13/02/2014
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates28/06/2007
DEMISSIONS, NOMINATIONS
PDF
Mandates04/05/2006
DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - CAPITAL, ACTIONS - 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 202592,8 k €↓
2024
Annual accounts 2024163,3 k €↑
2023
Annual accounts 202348,7 k €↑
2022
Annual accounts 202221,9 k €↓
2021
Annual accounts 202128,4 k €↓
2018
Annual accounts 201890 k €↑
2017
Annual accounts 201760,6 k €↑
2016
Annual accounts 201656,2 k €↓
2015
Annual accounts 201574,2 k €↑
2014
Annual accounts 201433,2 k €↓
2013
Annual accounts 201337 k €↓
2012
Annual accounts 201248,4 k €↑
2011
Annual accounts 201146,5 k €↓
2010
Annual accounts 201065,9 k €↓
2009
Annual accounts 200989,5 k €↑
2008
Annual accounts 200863,9 k €↑
2007
Annual accounts 200732,4 k €↑
2006
Annual accounts 200611,2 k €
24/02/1997
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

Minrad

Overview

What does Minrad do?

Trend over 18 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