ACTIVE

PSG Group

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Financial year 2025 · closed on 31/12/2025

Net result

18,7 k €

+155.6% YoY

Gross margin

459,8 k €

-1.1% YoY

Equity

136,9 k €

+15.8% YoY

Workforce

3,5 ETP

0.0% YoY

What does PSG Group do?

PSG Group is a Public limited company incorporated in 1998. Its main activity is: Publishing of newspapers. Its registered office is in Hasselt. It employs on average 3,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0463.057.709

Incorporation

03/04/1998

Legal form

Public limited company

Registered office

Research Campus 18
3500 Hasselt · FlandreSee on map

Contributed capital

66 137,99 €

Latest accounts

31/12/2025

Average workforce

3,5 ETP

Activities (NACE)

58130Publishing of newspapers· main 58140Publishing of journals and periodicals 73110Advertising agencies 73110Advertising agencies 74812Other professional, scientific and technical activities 58130Publishing of newspapers+6

Joint committees (3)

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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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	459,8 k €	-1.1%	465 k €	+42.5%	326,4 k €	+55.4%	210 k €	-34.7%	321,8 k €	-6.0%	342,4 k €	-10.6%	382,9 k €	+35.6%	282,4 k €	-3.3%	292,2 k €	-28.8%	410,5 k €	+26.5%	324,4 k €	+24.7%	260,1 k €	-14.4%	304 k €	-32.7%	452 k €	+25.1%	361,3 k €	-9.8%	400,4 k €	+26.7%	316,1 k €	+2.5%	308,4 k €	+14.2%	270 k €	+3.3%	261,5 k €
EBITDA	251,9 k €	+18.1%	213,2 k €	+35.6%	157,2 k €	+93.3%	81,3 k €	-59.1%	198,8 k €	-4.3%	207,7 k €	-9.1%	228,5 k €	+93.0%	118,4 k €	-10.4%	132,2 k €	-28.0%	183,6 k €	+32.2%	138,9 k €	+58.2%	87,8 k €	+58.4%	55,4 k €	+36.8%	40,5 k €	+1671%	-2,6 k €	-104%	68,6 k €	+140%	28,5 k €	-22.3%	36,7 k €	-35.4%	56,9 k €	+25.7%	45,2 k €
Operating result	68 k €	+72.1%	39,5 k €	+81.0%	21,8 k €	+149%	-44,5 k €	-165%	68,7 k €	-8.3%	74,9 k €	+11.9%	66,9 k €	+276%	-37,9 k €	-176%	-13,8 k €	-131%	43,8 k €	+31.7%	33,3 k €	-25.7%	44,8 k €	+1152%	3,6 k €	+491%	-915,2 €	+96.5%	-26,2 k €	-152%	50,1 k €	+1022%	4,5 k €	+111%	-42 k €	-267%	25,1 k €	+302%	6,2 k €
Net result	18,7 k €	+156%	7,3 k €	+5.7%	6,9 k €	+110%	-68,7 k €	-324%	30,7 k €	-30.7%	44,3 k €	+6.4%	41,6 k €	+157%	-73,6 k €	-44.2%	-51 k €	-5891%	880,9 €	+279%	232,7 €	-99.0%	23,4 k €	+3635%	626,6 €	+119%	-3,3 k €	+85.9%	-23,5 k €	-163%	37,3 k €	+1167%	2,9 k €	+107%	-41,9 k €	-424%	12,9 k €	+1009%	1,2 k €
Balance sheet
Equity	136,9 k €	+15.8%	118,2 k €	+6.6%	110,9 k €	+6.7%	104 k €	-39.8%	172,7 k €	+21.6%	142 k €	+45.3%	97,7 k €	+55.5%	62,9 k €	-53.9%	136,4 k €	-27.2%	187,4 k €	+0.5%	186,6 k €	+0.1%	186,3 k €	+14.4%	162,9 k €	+0.4%	162,3 k €	-2.0%	165,6 k €	-12.4%	189,1 k €	+24.5%	151,9 k €	+2.0%	148,9 k €	-21.9%	190,8 k €	+7.3%	177,9 k €
Total assets	1,3 M €	-12.7%	1,5 M €	-4.6%	1,6 M €	+8.0%	1,5 M €	-13.1%	1,7 M €	-5.2%	1,8 M €	+2.2%	1,8 M €	-3.3%	1,8 M €	-14.8%	2,1 M €	-12.1%	2,4 M €	+5.3%	2,3 M €	+10.5%	2,1 M €	+292%	534,8 k €	-12.1%	608,6 k €	+7.3%	567,3 k €	+21.7%	466 k €	+14.3%	407,7 k €	-0.5%	409,7 k €	+2.5%	399,6 k €	-2.6%	410,3 k €
Cash	76,9 k €	+116%	35,6 k €	+21.2%	29,4 k €	-17.0%	35,4 k €	-67.7%	109,8 k €	+65.0%	66,5 k €	+122%	30 k €	+334%	6,9 k €	+834%	739,9 €	-97.6%	30,6 k €	+4.5%	29,3 k €	+173%	10,7 k €	+138%	4,5 k €	+9.0%	4,1 k €	-56.8%	9,6 k €	-82.3%	54 k €	+725%	6,6 k €	-52.9%	13,9 k €	-19.8%	17,3 k €	-40.5%	29,2 k €
Debts	1,2 M €	-14.3%	1,4 M €	-6.8%	1,5 M €	+8.0%	1,4 M €	-10.3%	1,5 M €	-7.3%	1,7 M €	-0.4%	1,7 M €	-5.2%	1,8 M €	-12.4%	2 M €	-10.2%	2,2 M €	+5.0%	2,1 M €	+12.0%	1,9 M €	+412%	371,9 k €	-15.1%	437,9 k €	+10.9%	395 k €	+42.7%	276,9 k €	+8.2%	255,8 k €	+3.5%	247,2 k €	+52.5%	162,1 k €	-16.1%	193,3 k €
Other
Workforce	3,5 ETP	0.0%	3,5 ETP	+12.9%	3,1 ETP	+40.9%	2,2 ETP	+10.0%	2,0 ETP	-33.3%	3,0 ETP	-21.1%	3,8 ETP	+5.6%	3,6 ETP	-12.2%	4,1 ETP	-21.2%	5,2 ETP	+40.5%	3,7 ETP	+15.6%	3,2 ETP	-33.3%	4,8 ETP	-35.1%	7,4 ETP	+2.8%	7,2 ETP	+5.9%	6,8 ETP	+17.2%	5,8 ETP	+1.8%	5,7 ETP	+21.3%	4,7 ETP	-2.1%	4,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 13 ended

Active mandates

BECOM

Director · since 22 décembre 2022 · until 30 juin 2028 · 0439.779.588

Represented by Joseph Hemschoote

Active

Kurt Dekeyzer

Managing director · since 22 décembre 2022 · until 30 juin 2028

Active

Lieven Hemschoote

Director · since 22 décembre 2022 · until 30 juin 2028

Active

Ended mandates

BECOM

Director · since 23 mai 2018 · until 30 juin 2024 · 0439.779.588

Represented by Joseph Hemschoote

Ended

Kurt Dekeyzer

Managing director · since 23 mai 2018 · until 30 juin 2024

Ended

Lieven Hemschoote

Director · since 23 mai 2018 · until 30 juin 2024

Ended

BECOM

Director · since 30 juin 2012 · until 30 juin 2018 · 0439.779.588

Represented by Joseph Hemschoote

Ended

At this address

Other companies at this address

Company	CBE no.
ANALYZ-IT● Active	0477.292.557
Studio PSG● Active	0501.814.355
WHYZZLE● Active	0654.974.286

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	28/08/2026	30/09/2025	31/07/2024	01/09/2023	11/08/2022	06/08/2021
General meeting	30/06/2026	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021
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	30/06/2026	28/08/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	30/09/2025	Dutch	PDF
Abridged model	31/12/2023	30/06/2024	31/07/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	01/09/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	11/08/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	06/08/2021	Dutch	PDF
Abridged model	31/12/2019	30/06/2020	29/07/2020	Dutch	PDF
Abridged model	31/12/2018	30/06/2019	30/08/2019	Dutch	PDF
Abridged model	31/12/2017	23/05/2018	31/08/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	30/08/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	22/07/2016	Dutch	PDF
Abridged model	31/12/2014	24/06/2015	30/07/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	23/07/2014	Dutch	PDF
Abridged model	31/12/2012	22/05/2013	18/07/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	16/07/2012	Dutch	PDF
Abridged model	31/12/2010	25/05/2011	25/05/2011	Dutch	PDF
Abridged model	31/12/2009	30/06/2010	21/07/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	20/07/2009	Dutch	PDF
Abridged model	31/12/2007	28/05/2008	16/06/2008	Dutch	PDF
Abridged model	31/12/2006	20/06/2007	09/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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 · 3 active · 13 ended

Active mandates

BECOM

Director · since 22 décembre 2022 · until 30 juin 2028 · 0439.779.588

Represented by Joseph Hemschoote

Active

Kurt Dekeyzer

Managing director · since 22 décembre 2022 · until 30 juin 2028

Active

Lieven Hemschoote

Director · since 22 décembre 2022 · until 30 juin 2028

Active

Ended mandates

BECOM

Director · since 23 mai 2018 · until 30 juin 2024 · 0439.779.588

Represented by Joseph Hemschoote

Ended

Kurt Dekeyzer

Managing director · since 23 mai 2018 · until 30 juin 2024

Ended

Lieven Hemschoote

Director · since 23 mai 2018 · until 30 juin 2024

Ended

BECOM

Director · since 30 juin 2012 · until 30 juin 2018 · 0439.779.588

Represented by Joseph Hemschoote

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/01/2023
BENAMING - ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/10/2019
ONTSLAGEN - BENOEMINGEN
PDF
Registered office16/04/2015
MAATSCHAPPELIJKE ZETEL - DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates22/08/2012
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares01/02/2008
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates19/07/2007
ONTSLAGEN - BENOEMINGEN - KAPITAAL - AANDELEN - DIVERSEN
PDF
Mandates07/05/2004
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 202518,7 k €↑
2024
Annual accounts 20247,3 k €↑
2023
Annual accounts 20236,9 k €↑
2022
Annual accounts 2022-68,7 k €↓
2022
Name changePSG Group
2021
Annual accounts 202130,7 k €↓
2021
Name changePhoto Studio Graphics
2020
Annual accounts 202044,3 k €↑
2019
Annual accounts 201941,6 k €↑
2018
Annual accounts 2018-73,6 k €↓
2017
Annual accounts 2017-51 k €↓
2016
Annual accounts 2016880,9 €↑
2015
Annual accounts 2015232,7 €↓
2014
Annual accounts 201423,4 k €↑
2013
Annual accounts 2013626,6 €↑
2012
Annual accounts 2012-3,3 k €↑
2011
Annual accounts 2011-23,5 k €↓
2010
Annual accounts 201037,3 k €↑
2009
Annual accounts 20092,9 k €↑
2008
Annual accounts 2008-41,9 k €↓
2007
Annual accounts 200712,9 k €↑
2006
Annual accounts 20061,2 k €
03/04/1998
IncorporationPublic 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

PSG Group

Overview

What does PSG Group do?

Trend over 20 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