ACTIVE

ARGANO

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Financial year 2025 · closed on 31/12/2025

Net result

80,1 k €

-1.6% YoY

Gross margin

168,8 k €

+3.1% YoY

Equity

358,3 k €

-14.9% YoY

What does ARGANO do?

ARGANO is a Private limited company incorporated in 1998. Its main activity is: Management consultancy activities. Its registered office is in Braine-le-Château.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0464.621.882

Incorporation

19/11/1998

Legal form

Private limited company

Registered office

Rue des Cattys 18
1440 Braine-le-Château · WallonieSee on map

Contributed capital

18 592,01 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	168,8 k €	+3.1%	163,8 k €	+17.0%	140,1 k €	+32.9%	105,4 k €	-51.4%	216,8 k €	+198%	72,7 k €	-37.6%	116,6 k €	+16.3%	100,2 k €	+18.5%	84,5 k €	+11.6%	75,7 k €	+12.0%	67,6 k €	+10.0%	61,4 k €	-26.9%	84,1 k €	+18.8%	70,8 k €	+14.9%	61,6 k €	+37.6%	44,7 k €	-14.9%	52,6 k €	+49.6%	35,1 k €	+391%	7,2 k €	-36.5%	11,3 k €
EBITDA	166,8 k €	+2.8%	162,2 k €	+17.6%	138 k €	+33.3%	103,5 k €	-44.0%	184,7 k €	+159%	71,2 k €	-35.7%	110,8 k €	+12.7%	98,3 k €	+19.8%	82 k €	+11.0%	73,9 k €	+10.6%	66,9 k €	+11.7%	59,9 k €	-27.7%	82,8 k €	+8.4%	76,4 k €	+165%	28,8 k €	+91.8%	15 k €	-35.7%	23,4 k €	+299%	5,9 k €	-10.6%	6,6 k €	-38.6%	10,7 k €
Operating result	119,6 k €	+2.3%	116,9 k €	+15.8%	101 k €	+48.8%	67,8 k €	-55.0%	150,6 k €	+573%	22,4 k €	-63.9%	61,9 k €	+18.5%	52,2 k €	+44.4%	36,2 k €	-0.5%	36,3 k €	+17.3%	31 k €	+34.4%	23,1 k €	-50.7%	46,8 k €	+14.1%	41 k €	+277%	10,9 k €	+221%	3,4 k €	-75.7%	14 k €	+2445%	-596 €	-128%	2,1 k €	-65.0%	6,1 k €
Net result	80,1 k €	-1.6%	81,4 k €	+26.2%	64,5 k €	+46.6%	44 k €	-56.2%	100,5 k €	+2208%	4,4 k €	-84.8%	28,7 k €	+22.6%	23,4 k €	+58.8%	14,7 k €	+49.3%	9,9 k €	+11.3%	8,9 k €	+148%	3,6 k €	-67.6%	11 k €	-42.6%	19,2 k €	+587%	-3,9 k €	+64.8%	-11,2 k €	-641%	2,1 k €	+153%	-3,9 k €	-121%	-1,8 k €	-258%	1,1 k €
Balance sheet
Equity	358,3 k €	-14.9%	421,2 k €	+24.0%	339,8 k €	+23.4%	275,3 k €	+19.0%	231,3 k €	+76.8%	130,8 k €	+3.4%	126,4 k €	+29.3%	97,8 k €	+31.4%	74,4 k €	+24.7%	59,7 k €	+19.8%	49,8 k €	+21.6%	41 k €	+9.5%	37,4 k €	+41.8%	26,4 k €	+266%	7,2 k €	-35.4%	11,1 k €	-50.1%	22,3 k €	+10.2%	20,3 k €	-16.1%	24,1 k €	-6.8%	25,9 k €
Total assets	686,6 k €	+10.7%	620,4 k €	+15.1%	539,1 k €	+1.4%	531,5 k €	+17.3%	453,1 k €	+5.8%	428,1 k €	-8.3%	467 k €	+0.2%	466 k €	-9.1%	512,8 k €	+27.0%	403,7 k €	-5.3%	426,2 k €	-6.8%	457,5 k €	+1.9%	449,1 k €	-4.4%	469,9 k €	+31.2%	358,1 k €	+5.3%	340 k €	-5.1%	358,4 k €	+137%	151,2 k €	+24.0%	122 k €	-6.4%	130,2 k €
Cash	226,7 k €	+92.2%	118 k €	+45.0%	81,3 k €	+29.8%	62,7 k €	+4.2%	60,1 k €	+387%	12,4 k €	+81.1%	6,8 k €	+91.3%	3,6 k €	+22.5%	2,9 k €	+169%	1,1 k €	-71.2%	3,8 k €	-23.8%	4,9 k €	-60.2%	12,4 k €	+193%	4,2 k €	+859%	441 €	-99.1%	51,8 k €	-43.0%	91 k €		–		218 €	-0.9%	220 €
Debts	260,3 k €	+98.5%	131,2 k €	-0.1%	131,3 k €	-30.2%	188,3 k €	+22.4%	153,8 k €	-32.6%	228,4 k €	-15.9%	271,7 k €	-9.5%	300,2 k €	-18.9%	370,3 k €	+34.2%	276 k €	-10.2%	307,5 k €	-11.5%	347,6 k €	+1.1%	343,7 k €	-8.5%	375,5 k €	+7.0%	350,9 k €	+6.7%	328,9 k €	-2.2%	336,1 k €	+157%	131 k €	+33.9%	97,8 k €	-6.2%	104,3 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		0,1 ETP	-90.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 6 ended

Active mandates

SERGE THIRY

Director · since 01 janvier 2017

Active

Ended mandates

SERGE THIRY

Manager · since 01 janvier 2017

Ended

RASMANE YAGUIBOU THIRY

Manager · since 21 décembre 2012 · until 31 décembre 2016

Ended

RASMANE YAGUIBOU THIRY

Manager · since 21 décembre 2012

Ended

RASMANE YAGUIBOU THIRY

Associate · since 21 décembre 2012

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	28/07/2026	11/06/2025	30/08/2024	21/06/2023	28/09/2022	31/08/2021
General meeting	26/03/2026	10/06/2025	30/08/2024	21/06/2023	15/08/2022	15/08/2021
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	26/03/2026	28/07/2026	French	PDF
Micro model	31/12/2024	10/06/2025	11/06/2025	French	PDF
Micro model	31/12/2023	30/08/2024	30/08/2024	French	PDF
Micro model	31/12/2022	21/06/2023	21/06/2023	French	PDF
Micro model	31/12/2021	15/08/2022	28/09/2022	French	PDF
Micro model	31/12/2020	15/08/2021	31/08/2021	French	PDF
Micro model	31/12/2019	08/09/2020	28/09/2020	French	PDF
Micro model	31/12/2018	04/06/2019	22/08/2019	French	PDF
Micro model	31/12/2017	30/06/2018	31/08/2018	French	PDF
Micro model	31/12/2016	05/06/2017	24/08/2017	French	PDF
Abridged model	31/12/2015	30/06/2016	25/08/2016	French	PDF
Abridged model	31/12/2014	03/06/2015	03/06/2015	French	PDF
Abridged model	31/12/2013	04/06/2014	07/07/2014	French	PDF
Abridged model	31/12/2012	05/06/2013	23/08/2013	French	PDF
Abridged model	31/12/2011	23/05/2012	20/06/2012	French	PDF
Abridged model	31/12/2010	25/05/2011	23/06/2011	French	PDF
Abridged model	31/12/2009	26/05/2010	24/06/2010	French	PDF
Abridged model	31/12/2008	27/05/2009	08/07/2009	French	PDF
Abridged model	31/12/2007	04/06/2008	28/08/2008	French	PDF
Abridged model	31/12/2006	06/06/2007	27/08/2007	French	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 6 ended

Active mandates

SERGE THIRY

Director · since 01 janvier 2017

Active

Ended mandates

SERGE THIRY

Manager · since 01 janvier 2017

Ended

RASMANE YAGUIBOU THIRY

Manager · since 21 décembre 2012 · until 31 décembre 2016

Ended

RASMANE YAGUIBOU THIRY

Manager · since 21 décembre 2012

Ended

RASMANE YAGUIBOU THIRY

Associate · since 21 décembre 2012

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates27/03/2017
DEMISSIONS, NOMINATIONS
PDF
Restructuring04/01/2013
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring03/08/2012
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Capital / shares10/04/2009
OBJET - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Mandates09/10/2008
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 202580,1 k €↓
2024
Annual accounts 202481,4 k €↑
2023
Annual accounts 202364,5 k €↑
2022
Annual accounts 202244 k €↓
2021
Annual accounts 2021100,5 k €↑
2020
Annual accounts 20204,4 k €↓
2019
Annual accounts 201928,7 k €↑
2018
Annual accounts 201823,4 k €↑
2017
Annual accounts 201714,7 k €↑
2016
Annual accounts 20169,9 k €↑
2015
Annual accounts 20158,9 k €↑
2014
Annual accounts 20143,6 k €↓
2013
Annual accounts 201311 k €↓
2012
Annual accounts 201219,2 k €↑
2011
Annual accounts 2011-3,9 k €↑
2010
Annual accounts 2010-11,2 k €↓
2009
Annual accounts 20092,1 k €↑
2008
Annual accounts 2008-3,9 k €↓
2007
Annual accounts 2007-1,8 k €↓
2006
Annual accounts 20061,1 k €
19/11/1998
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

ARGANO

Overview

What does ARGANO do?

Trend over 20 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