ACTIVE

AUX SOURCES

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Financial year 2025 · closed on 31/12/2025

Net result

-282 €

-158.6% YoY

Gross margin

581,5 k €

+3.9% YoY

Equity

91,1 k €

-3.7% YoY

What does AUX SOURCES do?

AUX SOURCES is a Non-profit organization incorporated in 1997. Its main activity is: Technical and vocational secondary education. Its registered office is in Huy.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0462.578.944

Incorporation

15/12/1997

Legal form

Non-profit organization

Registered office

Avenue Albert 1er 59
4500 Huy · WallonieSee on map

Latest accounts

31/12/2025

Activities (NACE)

85323Technical and vocational secondary education· main 88992Other social work activities without accommodation n.e.c.88994Other social work activities without accommodation n.e.c.

Signals

Good liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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Recommended credit limit

✦ 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	581,5 k €	+3.9%	559,8 k €	+7.2%	522 k €	+5.5%	494,9 k €	+16.7%	424,2 k €	+9.2%	388,3 k €	+5.0%	369,9 k €	+12.6%	328,4 k €	-12.5%	375,5 k €	+17.8%	318,9 k €	+5.8%	301,4 k €	+0.4%	300,3 k €	+22.9%	244,2 k €	-0.6%	245,7 k €	+5.1%	233,7 k €	+6.1%	220,2 k €	-0.8%	221,9 k €	-3.4%	229,7 k €
EBITDA	31,8 k €	+46.8%	21,7 k €	-6.4%	23,2 k €	+37.7%	16,8 k €	+208%	5,5 k €	+650%	728 €	-63.7%	2 k €	+24.9%	1,6 k €	-57.5%	3,8 k €	+195%	1,3 k €	-56.9%	3 k €	-17.6%	3,6 k €	-39.4%	6 k €	-51.6%	12,3 k €	+352%	-4,9 k €	-258%	3,1 k €	-70.0%	10,3 k €	+381%	2,1 k €
Operating result	9,9 k €	+88.4%	5,3 k €	-26.1%	7,1 k €	+52.7%	4,7 k €	-8.2%	5,1 k €	+1322%	358 €	+320%	-163 €	+15.5%	-193 €	-110%	2 k €	+351%	438 €	-78.3%	2 k €	+62.2%	1,2 k €	-61.1%	3,2 k €	-64.8%	9,1 k €	+205%	-8,7 k €	-929%	-843 €	-113%	6,4 k €	+529%	-1,5 k €
Net result	-282 €	-159%	481 €	-71.1%	1,7 k €	+809%	183 €	-96.4%	5,1 k €	+1480%	320 €	+295%	81 €	+136%	-227 €	-110%	2,2 k €	+250%	633 €	-67.2%	1,9 k €	-27.9%	2,7 k €	-26.2%	3,6 k €	-65.3%	10,4 k €	+233%	-7,8 k €	-139%	20 k €	+178%	7,2 k €	+237%	-5,3 k €
Balance sheet
Equity	91,1 k €	-3.7%	94,6 k €	-2.8%	97,4 k €	+4.8%	92,9 k €	+356%	20,4 k €	+33.0%	15,3 k €	+14.0%	13,5 k €	-1.2%	13,6 k €	-3.4%	14,1 k €	+47.8%	9,5 k €	+4.2%	9,2 k €	+22.4%	7,5 k €	+19.6%	6,3 k €	+42.8%	4,4 k €	+209%	-4 k €	-165%	6,2 k €	+133%	-18,6 k €	+29.6%	-26,5 k €
Total assets	555 k €	+14.5%	484,6 k €	+2.7%	471,8 k €	+7.2%	440 k €	+132%	190 k €	+108%	91,3 k €	-31.1%	132,4 k €	-28.6%	185,4 k €	+65.5%	112 k €	+26.4%	88,6 k €	+40.3%	63,1 k €	-9.1%	69,5 k €	-2.0%	70,9 k €	+4.3%	68 k €	+0.9%	67,4 k €	-1.0%	68,1 k €	+36.1%	50 k €	-34.4%	76,3 k €
Cash	181,5 k €	+74.9%	103,8 k €	+11.3%	93,2 k €	+42.6%	65,4 k €	+36.3%	48 k €	+3943%	1,2 k €	-96.6%	35 k €	-55.1%	78 k €	+178%	28,1 k €	-31.5%	41 k €	+173%	15 k €	-29.6%	21,4 k €	+581%	3,1 k €	-18.2%	3,8 k €	-27.8%	5,3 k €	+32.7%	4 k €	-63.0%	10,8 k €	+699%	1,4 k €
Debts	335,5 k €	-2.0%	342,4 k €	-8.2%	373,2 k €	+27.5%	292,8 k €	+252%	83,2 k €	+9.5%	76 k €	+26.1%	60,2 k €	+7.3%	56,1 k €	-17.2%	67,8 k €	+18.3%	57,4 k €	+8.7%	52,8 k €	-10.1%	58,7 k €	-7.2%	63,2 k €	+7.0%	59,1 k €	-2.8%	60,8 k €	+7.0%	56,8 k €	-14.7%	66,6 k €	-30.2%	95,4 k €
Other
Workforce	–		–		–		–		–		–		6,7 ETP	+8.1%	6,2 ETP	-16.2%	7,4 ETP	+10.4%	6,7 ETP	+3.1%	6,5 ETP	+8.3%	6,0 ETP	0.0%	6,0 ETP	+3.4%	5,8 ETP	-10.8%	6,5 ETP	+12.1%	5,8 ETP	0.0%	5,8 ETP	-9.4%	6,4 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 · 4 active · 7 ended

Active mandates

Alexandre PEIGNEUX

Director

Active

Annick EVRARD

Chairman of the board of directors

Active

David BOUSSA

Director

Active

Marie DELVAUX

Director

Active

Ended mandates

Anne-Cécile COLIN

Chairman of the board of directors

Ended

Bérangère PEREE

Director

Ended

Eddy WANET

Director

Ended

Etienne STRUYS

Director

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	15/06/2026	03/07/2025	27/06/2024	30/06/2023	07/07/2022	23/07/2021
General meeting	04/06/2026	10/06/2025	04/06/2024	01/06/2023	08/06/2022	02/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	04/06/2026	15/06/2026	French	PDF
Micro model	31/12/2024	10/06/2025	03/07/2025	French	PDF
Micro model	31/12/2023	04/06/2024	27/06/2024	French	PDF
Micro model	31/12/2022	01/06/2023	30/06/2023	French	PDF
Micro model	31/12/2021	08/06/2022	07/07/2022	French	PDF
Micro model	31/12/2020	02/06/2021	23/07/2021	French	PDF
Abridged model	31/12/2019	18/06/2020	23/06/2020	French	PDF
Abridged model	31/12/2018	06/06/2019	26/06/2019	French	PDF
Abridged model	31/12/2017	06/06/2018	30/07/2018	French	PDF
Abridged model	31/12/2016	12/06/2017	10/07/2017	French	PDF
Abridged model	31/12/2015	16/06/2016	30/06/2016	French	PDF
Abridged model	31/12/2014	18/06/2015	22/07/2015	French	PDF
Abridged model	31/12/2013	19/06/2014	26/06/2014	French	PDF
Abridged model	31/12/2012	25/06/2013	03/07/2013	French	PDF
Abridged model	31/12/2011	20/06/2012	10/07/2012	French	PDF
Abridged model	31/12/2010	23/06/2011	15/07/2011	French	PDF
Abridged model	31/12/2009	23/06/2010	06/07/2010	French	PDF
Abridged model	31/12/2008	24/06/2009	30/06/2009	French	PDF
Abridged model	31/12/2007	18/06/2008	12/09/2008	French	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 · 4 active · 7 ended

Active mandates

Alexandre PEIGNEUX

Director

Active

Annick EVRARD

Chairman of the board of directors

Active

David BOUSSA

Director

Active

Marie DELVAUX

Director

Active

Ended mandates

Anne-Cécile COLIN

Chairman of the board of directors

Ended

Bérangère PEREE

Director

Ended

Eddy WANET

Director

Ended

Etienne STRUYS

Director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office15/06/2023
SIEGE SOCIAL
PDF
Other24/07/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates21/03/2018
DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Mandates20/11/2014
DEMISSIONS, NOMINATIONS
PDF
Mandates17/04/2013
DEMISSIONS, NOMINATIONS
PDF
Mandates30/05/2012
DEMISSIONS, NOMINATIONS
PDF
Mandates14/07/2010
DEMISSIONS, NOMINATIONS
PDF
Mandates03/12/2009
OBJET - 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 2025-282 €↓
2024
Annual accounts 2024481 €↓
2023
Annual accounts 20231,7 k €↑
2022
Annual accounts 2022183 €↓
2021
Annual accounts 20215,1 k €↑
2020
Annual accounts 2020320 €↑
2019
Annual accounts 201981 €↑
2018
Annual accounts 2018-227 €↓
2017
Annual accounts 20172,2 k €↑
2016
Annual accounts 2016633 €↓
2015
Annual accounts 20151,9 k €↓
2014
Annual accounts 20142,7 k €↓
2013
Annual accounts 20133,6 k €↓
2012
Annual accounts 201210,4 k €↑
2011
Annual accounts 2011-7,8 k €↓
2010
Annual accounts 201020 k €↑
2009
Annual accounts 20097,2 k €↑
2008
Annual accounts 2008-5,3 k €
15/12/1997
IncorporationNon-profit organization

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

AUX SOURCES

Overview

What does AUX SOURCES 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