ACTIVE

NOSHAQ SPIN-OFFS

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Financial year 2025 · Closed on 30/06/2025

Net result6,6 M €-12,6 %over 1 year
Revenue152,3 k €+24,0 %over 1 year
Equity18,1 M €+22,0 %over 1 year

Identity

Source · BCE/KBO

NOSHAQ SPIN-OFFS is a Public limited company incorporated in 1998. Its main activity is: Management consultancy activities. Its registered office is in Liège.

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0465.001.172
Incorporation
24/12/1998
Legal form
Public limited company
Registered office
Rue Lambert-Lombard 3
4000 Liège · WallonieSee on map
Contributed capital
750 000,00 €
Latest accounts
30/06/2025
Signals
ProfitableLow riskGood liquidityPositive cashflow

Financials

Source · NBB, 19 filings

Trend over 15 financial years

20252024202320222021
Income statement
Revenue152,3 k €122,8 k €115 k €112,8 k €114,1 k €
EBITDA-337,9 k €-327 k €-291,1 k €-288,1 k €-344,9 k €
Operating result-349,9 k €-331,2 k €-292,9 k €-288,1 k €-344,9 k €
Net result6,6 M €7,5 M €7,1 M €-1,1 M €2,7 M €
Balance sheet
Equity18,1 M €14,9 M €11,1 M €4 M €5,2 M €
Total assets69,2 M €63,2 M €51,9 M €41,2 M €38,8 M €
Cash1,1 M €2,1 M €7,5 M €10,6 M €10,8 M €
Debts50,5 M €47,4 M €39,9 M €36,3 M €32,8 M €

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€
See the valuation

Board of directors

Source · NBB, accounts to 30/06/2025

23 active · 8 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Deborah Geradon
Director03/10/2025 → 17/02/2028
Sylvie Rouche
Director03/10/2025 → 17/02/2028
Christine DEFRAIGNE
Director08/11/2024 → 17/02/2028
Christophe LECLERCQ
Director08/11/2024 → 17/02/2028
Eric DEWINGAERDEN
Director08/11/2024 → 17/02/2028
Henri LEMAITRE
Director08/11/2024 → 17/02/2028
Jean-Christophe PETERKENNE
Director08/11/2024 → 17/02/2028
Jean-Michel JAVAUX
Chairman of the board of directors08/11/2024 → 17/02/2028
Jérôme HARDY
Director08/11/2024 → 17/02/2028
Joana WITHOFS
Director08/11/2024 → 17/02/2028
Joyce WIECZOREK
Director08/11/2024 → 17/02/2028
Marielle PAPY
Director08/11/2024 → 17/02/2028
Matthieu DE WINTER
Director08/11/2024 → 17/02/2028
NETHYS0465.607.720Represented by DEMAL GRÉGORY
Director08/11/2024 → 17/02/2028
Nicolas DUMAZY
Director08/11/2024 → 17/02/2028
Pascal CARLENS
Director08/11/2024 → 17/02/2028
Valérie SARETTO
Vice-chairman of the board of directors08/11/2024 → 17/02/2028
Michel MOUTSCHEN
Director01/10/2022 → 08/12/2026
GESVAL0445.067.177Represented by NYSSEN ANNE-SOPHIE
Chairman of the board of directors08/12/2021 → 08/12/2026Director18/12/2018 → 2022 accountsended
NOSHAQ0426.624.509Represented by FELLIN BENOÎT
Director01/10/2005 → 08/12/2026
NOSHAQ EUROPE 30670.438.066Represented by BRANDT ERIC
Director08/12/2021 → 08/12/2026
NOSHAQ PARTNERS0808.219.836Represented by Fabian MARQ
Director01/01/2009 → 08/12/2026
VENTURE COACHING0480.168.905Represented by BENOIT NATHALIE
Director01/02/2016 → 08/12/2026

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Fabrice BUREAU
Director18/12/2018 → 01/10/2022
Albert CORHAY
Chairman of the board of directors09/11/2016 → 18/12/2018

Other companies at this address

Rue Lambert-Lombard 3 4000 Liège
CompanyCBE no.
ALGAMA REAL ESTATE● Active
0792.591.948
ATD DEVELOPPEMENT● Active
0801.858.814
Bridge2Health● Active
0840.607.146
CAUTION MUTUELLE DES METIERS ET NEGOCES● Liquidation
0402.342.439
DYNAMOSHAQ● Active
1001.713.060
EKLO● Active
0876.745.287
FONDS D'INVESTISSEMENT ET DE CROISSANCE INDUSTRIELLE● Active
0547.614.092
GRAND - POSTE● Active
0884.938.621
GROOVE● Active
1006.189.908
GROUPE MEUSINVEST● Active
0560.824.801
H² ESTATE● Active
0777.414.616
HI-TECH INVEST● Active
0683.636.105
IMMOWOOD● Active
0776.521.424
LEANSQUARE● Active
0541.651.760
LE FIACRE● Active
0550.911.597
LEGIAPARKBIS● Active
0750.649.643
LSP1● Active
0748.573.645
LSP2● Active
0751.498.986
MARTIN FRERES● Active
1001.711.080
NOSHAQ● Active
0426.624.509

Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/07/202401/07/202301/07/202201/07/202101/07/202001/07/2019
Closing of the financial year30/06/202530/06/202430/06/202330/06/202230/06/202130/06/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date17/12/202513/12/202414/12/202320/12/202222/12/202108/12/2020
General meeting28/11/202515/11/202417/11/202315/12/202208/12/202127/11/2020
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 19 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model30/06/202528/11/202517/12/2025FrenchPDF
Full model30/06/202415/11/202413/12/2024FrenchPDF
Full model30/06/202317/11/202314/12/2023FrenchPDF
Full model30/06/202215/12/202220/12/2022FrenchPDF
Full model30/06/202108/12/202122/12/2021FrenchPDF
Full model30/06/202027/11/202008/12/2020FrenchPDF
Full model30/06/201929/11/201912/12/2019FrenchPDF
Full model30/06/201818/12/201820/12/2018FrenchPDF
Full model30/06/201729/11/201711/12/2017FrenchPDF
Full model30/06/201609/11/201601/12/2016FrenchPDF
Full model30/06/201527/11/201517/12/2015FrenchPDF
Full model30/06/201421/11/201417/12/2014FrenchPDF
Full model30/06/201315/11/201311/12/2013FrenchPDF
Full model30/06/201216/11/201210/12/2012FrenchPDF
Full model30/06/201118/11/201109/12/2011FrenchPDF
Full model30/06/201019/11/201017/12/2010FrenchPDF
Full model30/06/200920/11/200909/12/2009FrenchPDF
Full model30/06/200821/11/200809/12/2008FrenchPDF
Full model30/06/200723/11/200707/12/2007FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 30/06/2025

23 active · 8 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Deborah Geradon
Director03/10/2025 → 17/02/2028
Sylvie Rouche
Director03/10/2025 → 17/02/2028
Christine DEFRAIGNE
Director08/11/2024 → 17/02/2028
Christophe LECLERCQ
Director08/11/2024 → 17/02/2028
Eric DEWINGAERDEN
Director08/11/2024 → 17/02/2028
Henri LEMAITRE
Director08/11/2024 → 17/02/2028
Jean-Christophe PETERKENNE
Director08/11/2024 → 17/02/2028
Jean-Michel JAVAUX
Chairman of the board of directors08/11/2024 → 17/02/2028
Jérôme HARDY
Director08/11/2024 → 17/02/2028
Joana WITHOFS
Director08/11/2024 → 17/02/2028
Joyce WIECZOREK
Director08/11/2024 → 17/02/2028
Marielle PAPY
Director08/11/2024 → 17/02/2028
Matthieu DE WINTER
Director08/11/2024 → 17/02/2028
NETHYS0465.607.720Represented by DEMAL GRÉGORY
Director08/11/2024 → 17/02/2028
Nicolas DUMAZY
Director08/11/2024 → 17/02/2028
Pascal CARLENS
Director08/11/2024 → 17/02/2028
Valérie SARETTO
Vice-chairman of the board of directors08/11/2024 → 17/02/2028
Michel MOUTSCHEN
Director01/10/2022 → 08/12/2026
GESVAL0445.067.177Represented by NYSSEN ANNE-SOPHIE
Chairman of the board of directors08/12/2021 → 08/12/2026Director18/12/2018 → 2022 accountsended
NOSHAQ0426.624.509Represented by FELLIN BENOÎT
Director01/10/2005 → 08/12/2026
NOSHAQ EUROPE 30670.438.066Represented by BRANDT ERIC
Director08/12/2021 → 08/12/2026
NOSHAQ PARTNERS0808.219.836Represented by Fabian MARQ
Director01/01/2009 → 08/12/2026
VENTURE COACHING0480.168.905Represented by BENOIT NATHALIE
Director01/02/2016 → 08/12/2026

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Fabrice BUREAU
Director18/12/2018 → 01/10/2022
Albert CORHAY
Chairman of the board of directors09/11/2016 → 18/12/2018

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates13/10/2026
    Démission - Nomination
    PDF
  • Mandates22/12/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates31/12/2024
    SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
    PDF
  • Registered office27/12/2024
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - CAPITAL, ACTIONS - SIEGE SOCIAL
    PDF
  • Mandates05/01/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Other06/12/2023
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - OBJET
    PDF
  • Mandates23/01/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates12/07/2022
    DEMISSIONS, NOMINATIONS
    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
Filings15 filings
Mandates
Sylvie Rouche
Deborah Geradon
NETHYS
Joyce WIECZOREK
Henri LEMAITRE
Valérie SARETTO
Nicolas DUMAZY
Eric DEWINGAERDEN
Christine DEFRAIGNE
Matthieu DE WINTER
Christophe LECLERCQ
Joana WITHOFS
1998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025202620272028
NOSHAQ SPIN-OFFS
Rue Lambert-Lombard 3, 4000 LiègeAvenue Pré-Aily 4, 4031 Angleur
Director
Director
Director
Director
Director
Vice-chairman of the board of directors
Director
Director
Director
Director
Director
Director
CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE
Registered addressPeriodSource
Rue Lambert-Lombard 3, 4000 LiègeCurrent
accounts 2025
Accounts 2025 · 2025-00586498
Avenue Pré-Aily 4, 4031 Angleur
accounts 2022 → 2024
Accounts 2024 · 2024-00615637

Company names

Source · NBB annual accounts, CBE
NamePeriodSource
NOSHAQ SPIN-OFFSCurrent
accounts 2022 → 2025
Accounts 2025 · 2025-00586498

Events

  1. 28/11/2025
    nominationMarielle PAPY · membre du Conseil d'administration
  2. 03/10/2025
    nominationDeborah GERADON · membre du Conseil d'administration
  3. 03/10/2025
    nominationSylvie ROUCHE · membre du Conseil d'administration
  4. 2025
    Annual accounts 20256,6 M €↓
  5. 15/11/2024
    nominationBenoît FELLIN · Délégué à la gestion journalière (CEO)
  6. 15/11/2024
    nominationJean-Michel JAVAUX · Président du Conseil d'administration
  7. 15/11/2024
    nominationValérie SARETTO · Vice-Présidente du Conseil d'administration
  8. 12/11/2024
    nominationPascal CARLENS · administrateur
  9. 12/11/2024
    nominationMatthieu DE WINTER · administrateur
  10. 12/11/2024
    nominationS.A. NETHYS · administrateur
  11. 12/11/2024
    nominationEric DEWINGAERDEN · administrateur
  12. 12/11/2024
    nominationNicolas DUMAZY · administrateur
  13. 12/11/2024
    nominationJean-Michel JAVAUX · administrateur
  14. 12/11/2024
    nominationChristophe LECLERCA · administrateur
  15. 12/11/2024
    nominationHenri LEMAITRE · administrateur
  16. 12/11/2024
    nominationMarielle PAPY · administrateur
  17. 12/11/2024
    nominationJean-Christophe PETERKENNE · administrateur
  18. 12/11/2024
    nominationValérie SARETTO · administrateur
  19. 12/11/2024
    nominationJoyce WIECZOREK · administrateur
  20. 12/11/2024
    nominationJoana WITHOFS · administrateur
  21. 12/11/2024
    nominationJérôme HARDY · administrateur
  22. 12/11/2024
    nominationChristine DEFRAIGNE · administrateur
  23. 2024
    Annual accounts 20247,5 M €↑
  24. 01/12/2023
    nominationBenoît FELLIN · délégué à la gestion journalière
  25. 17/11/2023
    nominationMélanie ADORANTE · commissaire (représentant permanent de PwC REVISEURS D'ENTREPRISES S.R.L.)
  26. 17/11/2023
    nominationCédric ANTONELLI · commissaire (représentant permanent de BDO REVISEURS D'ENTREPRISES S.R.L.)
  27. 2023
    Annual accounts 20237,1 M €↑
  28. 01/10/2022
    nominationSophie NYSSEN · administrateur
  29. 01/10/2022
    nominationMichel MOUTSCHEN · administrateur
  30. 2022
    Annual accounts 2022-1,1 M €↓
  31. 02/06/2022
    nominationEric BRANDT · représentant permanent de la S.A. NOSHAQ EUROPE 3, Administrateur
  32. 02/06/2022
    nominationBenoît FELLIN · représentant permanent de la S.A. NOSHAQ, Administrateur délégué
  33. 09/03/2022
    nominationMélanie ADORANTE · représentant permanent du Commissaire-Réviseur PWC REVISEURS D'ENTREPRISES
  34. 2021
    Annual accounts 20212,7 M €↑
  35. 2020
    Annual accounts 2020-91,1 k €↓
  36. 2019
    Annual accounts 20191,5 M €↑
  37. 2018
    Annual accounts 2018683,8 k €↑
  38. 2017
    Annual accounts 2017-1,9 k €↓
  39. 2016
    Annual accounts 2016-1,2 k €↑
  40. 2015
    Annual accounts 2015-465 k €↓
  41. 2014
    Annual accounts 2014
  42. 2013
    Annual accounts 2013-59,2 k €↓
  43. 2012
    Annual accounts 2012-202,9 €↑
  44. 2011
    Annual accounts 2011-104,2 k €
  45. 24/12/1998
    IncorporationPublic limited company