ACTIVE

CORRELATIONS

Financial year 2025 · Closed on 31/12/2025

Net result155 k €+217,4 %over 1 year

Gross margin206,8 k €+140,0 %over 1 year

Equity220,6 k €+60,9 %over 1 year

Identity

Source · BCE/KBO

CORRELATIONS is a Private limited company incorporated in 1998. Its main activity is: Other education n.e.c.. Its registered office is in Uccle.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0463.824.702
Incorporation: 31/07/1998
Legal form: Private limited company
Registered office: Avenue de Boetendael 27
1180 Uccle · BruxellesSee on map
Contributed capital: 8 197,33 €
Latest accounts: 31/12/2025

Activities (NACE)

85599Other education n.e.c.· main 85599Other education n.e.c.

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

Financials

Source · NBB, 22 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	206,8 k €	+140%	86,2 k €	-8.2%	93,9 k €	-28.8%	132 k €	+51.8%	86,9 k €
EBITDA	205,6 k €	+151%	82,1 k €	-9.9%	91 k €	-29.9%	129,9 k €	+56.6%	83 k €
Operating result	191,7 k €	+179%	68,6 k €	-20.2%	86 k €	-32.3%	127,1 k €	+57.9%	80,5 k €
Net result	155 k €	+217%	48,8 k €	-25.2%	65,3 k €	-35.8%	101,7 k €	+53.4%	66,3 k €
Balance sheet
Equity	220,6 k €	+60.9%	137,1 k €	+24.9%	109,8 k €	+7.1%	102,5 k €	0.0%	102,5 k €
Total assets	327,9 k €	+63.0%	201,2 k €	-10.0%	223,4 k €	+52.0%	147 k €	-11.2%	165,5 k €
Cash	174,3 k €	+243%	50,9 k €	+52.7%	33,3 k €	-67.1%	101,3 k €	+25.8%	80,6 k €
Debts	93,5 k €	+46.0%	64 k €	-43.6%	113,6 k €	+156%	44,4 k €	-28.4%	62,1 k €
Other
Workforce	–		–		–		–		–

Valuation

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

1 active · 1 ended

Active mandates

Director	Mandates in this company	Period
PHILIPPE FRYDMAN	Andere functieDirector07/05/2007 → 2021 accountsended

Ended mandates

Director	Mandates in this company	Period
Philipe FRYDMAN	Mandate2014 accounts

Other companies at this address

Avenue de Boetendael 27 1180 Uccle

Company	CBE no.
CRAF● Active	0462.281.115
EPSYSERV● Active	0642.967.765

Full financial information

Source · NBB

	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	27/08/2026	26/08/2025	31/10/2024	04/07/2023	29/03/2022	05/08/2021
General meeting	02/03/2026	03/03/2025	04/03/2024	06/03/2023	07/03/2022	01/03/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 22 filings

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	02/03/2026	27/08/2026	French	PDF
Micro model	31/12/2024	03/03/2025	26/08/2025	French	PDF
Micro model	31/12/2023	04/03/2024	31/10/2024	French	PDF
Micro model	31/12/2022	06/03/2023	04/07/2023	French	PDF
Micro model	31/12/2021	07/03/2022	29/03/2022	French	PDF
Micro model	31/12/2020	01/03/2021	05/08/2021	French	PDF
Micro modelCorrection	31/12/2019	08/09/2020	30/11/2020	French	PDF
Micro model	31/12/2019	08/09/2020	29/10/2020	French	PDF
Micro model	31/12/2018	28/06/2019	30/08/2019	French	PDF
Abridged model	31/12/2017	29/06/2018	29/08/2018	French	PDF
Micro model	31/12/2016	30/06/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	27/06/2016	25/08/2016	French	PDF
Abridged model	31/12/2014	26/06/2015	25/08/2015	French	PDF
Abridged modelCorrection	31/12/2013	26/06/2014	29/08/2014	French	PDF
Abridged model	31/12/2013	26/06/2014	26/08/2014	French	PDF
Abridged model	31/12/2012	24/06/2013	06/09/2013	French	PDF
Abridged model	31/12/2011	24/06/2012	29/08/2012	French	PDF
Abridged model	31/12/2010	24/06/2011	25/08/2011	French	PDF
Abridged model	31/12/2009	26/06/2010	16/08/2010	French	PDF
Abridged model	31/12/2008	30/06/2009	18/09/2009	French	PDF
Abridged model	31/12/2007	30/06/2008	28/08/2008	French	PDF
Abridged model	31/12/2006	30/06/2007	30/08/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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.

Board of directors

Source · NBB, accounts to 31/12/2025

1 active · 1 ended

Active mandates

Director	Mandates in this company	Period
PHILIPPE FRYDMAN	Andere functieDirector07/05/2007 → 2021 accountsended

Ended mandates

Director	Mandates in this company	Period
Philipe FRYDMAN	Mandate2014 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates03/12/2024
MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Other16/11/2010
à 1050 Bruxelles
PDF
Mandates11/06/2007
TRANSFERT DU SIEGE - CONFIRMATION DU MANDAT DU GERANT - REFONTE
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings20 filings

Mandates

PHILIPPE FRYDMAN

Philipe FRYDMAN

19981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026

CORRELATIONS

Avenue de Boetendael 27, 1180 Uccle

Andere functieDirector

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Avenue de Boetendael 27, 1180 UccleCurrent	accounts 2022 → 2025	Accounts 2025 · 2026-00435173

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
CORRELATIONSCurrent	accounts 2022 → 2025	Accounts 2025 · 2026-00435173

Events

2025
Annual accounts 2025155 k €↑
2024
Annual accounts 202448,8 k €↓
2023
Annual accounts 202365,3 k €↓
2022
Annual accounts 2022101,7 k €↑
2021
Annual accounts 202166,3 k €↓
2020
Annual accounts 202094,7 k €↓
2019
Annual accounts 2019112,9 k €↓
2018
Annual accounts 2018
2017
Annual accounts 2017114,7 k €↑
2016
Annual accounts 2016103,8 k €↑
2015
Annual accounts 201578,9 k €↓
2014
Annual accounts 2014128 k €↑
2013
Annual accounts 2013100 k €↓
2012
Annual accounts 2012186,9 k €↑
2011
Annual accounts 201131,6 k €↓
2010
Annual accounts 201054,5 k €↑
2009
Annual accounts 200944,2 k €↓
2008
Annual accounts 200862,5 k €↓
2007
Annual accounts 200763,8 k €↑
2006
Annual accounts 20066,8 k €
31/07/1998
IncorporationPrivate limited company

CORRELATIONS

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events