ACTIVE

AZEM

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Financial year 2025 · closed on 31/12/2025

Net result

621,6 k €

-74.0% YoY

Gross margin

206,5 k €

-22.4% YoY

Equity

16,3 M €

+4.0% YoY

What does AZEM do?

AZEM is a Public limited company incorporated in 1998. Its main activity is: Management consultancy activities. Its registered office is in Mettet.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0465.004.142

Incorporation

24/12/1998

Legal form

Public limited company

Registered office

Rue de la Chapelle, St-Gérard 6
5640 Mettet · WallonieSee on map

Contributed capital

61 973,38 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities 64200Activities of holding companies 64210Activities of holding companies 71112Architectural activities+2

Signals

ProfitableSolid equityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	206,5 k €	-22.4%	266,2 k €	+10.4%	241,1 k €	-63.5%	660,6 k €	-27.7%	913,4 k €	+7.8%	847,3 k €	+2.2%	829,3 k €	+4.0%	797,4 k €	+16.6%	683,8 k €	-21.5%	871,5 k €	+42.2%	612,8 k €	-17.3%	741,3 k €	+0.5%	737,9 k €	+2.4%	720,6 k €	+1.3%	711,2 k €	+29.6%	548,6 k €	-4.0%	571,7 k €	-0.3%	573,2 k €
EBITDA	181 k €	-25.3%	242,1 k €	+10.4%	219,4 k €	-65.7%	640,5 k €	-28.4%	894,4 k €	+6.0%	843,4 k €	+2.6%	821,7 k €	+3.7%	792,7 k €	+16.5%	680,5 k €	-21.6%	868,1 k €	+42.0%	611,2 k €	-16.9%	735,1 k €	-0.2%	736,5 k €	+2.4%	719,3 k €	+1.3%	709,9 k €	+29.7%	547,3 k €	-3.8%	569,2 k €	-0.5%	572 k €
Operating result	125 k €	-33.9%	189,1 k €	+15.6%	163,7 k €	-72.3%	591,3 k €	-31.8%	867,3 k €	+8.0%	803,3 k €	+2.5%	783,7 k €	+5.8%	740,5 k €	+14.3%	647,8 k €	-4.9%	681,5 k €	+16.3%	586 k €	-19.2%	725,5 k €	-0.4%	728,7 k €	+2.4%	711,3 k €	+1.2%	703 k €	+30.1%	540,3 k €	-3.8%	561,9 k €	-1.6%	570,8 k €
Net result	621,6 k €	-74.0%	2,4 M €	+22.2%	2 M €	+305%	482,4 k €	-57.4%	1,1 M €	+205%	371,5 k €	-77.3%	1,6 M €	+157%	637,5 k €	+15.5%	551,8 k €	+21.3%	455 k €	-13.2%	524,1 k €	+21.1%	432,8 k €	-34.3%	658,4 k €	-16.3%	787 k €	+38.6%	567,9 k €	+453%	-161,1 k €	-129%	559,4 k €	+2.5%	545,9 k €
Balance sheet
Equity	16,3 M €	+4.0%	15,7 M €	+17.9%	13,3 M €	+17.2%	11,4 M €	+4.4%	10,9 M €	+30.6%	8,3 M €	+4.7%	8 M €	+25.8%	6,3 M €	+11.2%	5,7 M €	+10.7%	5,1 M €	+9.7%	4,7 M €	+12.6%	4,2 M €	+11.6%	3,7 M €	+21.4%	3,1 M €	+34.4%	2,3 M €	+33.0%	1,7 M €	-8.6%	1,9 M €	+42.4%	1,3 M €
Total assets	49,2 M €	+108%	23,7 M €	+40.0%	16,9 M €	+7.5%	15,8 M €	+4.1%	15,1 M €	+8.3%	14 M €	+1.6%	13,8 M €	+10.7%	12,4 M €	+2.8%	12,1 M €	-8.0%	13,1 M €	+7.2%	12,3 M €	+1.8%	12 M €	+0.5%	12 M €	+2.6%	11,7 M €	+3.4%	11,3 M €	+0.9%	11,2 M €	+197%	3,8 M €	+12.1%	3,4 M €
Cash	533,8 k €	+91.7%	278,4 k €	-58.2%	666,2 k €	+46.4%	455,1 k €	+365%	97,9 k €	-87.0%	753,2 k €	+2487%	29,1 k €	-94.9%	574,6 k €	+96.1%	293 k €	-23.8%	384,4 k €	-33.2%	575,4 k €	-40.6%	969,1 k €	-16.9%	1,2 M €	+11.4%	1 M €	+36.0%	769,2 k €	+163%	292 k €	-7.1%	314,3 k €	-3.8%	326,6 k €
Debts	32,9 M €	+312%	8 M €	+122%	3,6 M €	-17.8%	4,4 M €	+3.1%	4,2 M €	-24.7%	5,6 M €	-2.6%	5,8 M €	-5.1%	6,1 M €	-4.7%	6,4 M €	-20.1%	8 M €	+5.6%	7,6 M €	-3.9%	7,9 M €	-4.5%	8,3 M €	-4.1%	8,6 M €	-4.4%	9 M €	-5.0%	9,5 M €	+402%	1,9 M €	-7.4%	2 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 16 ended

Active mandates

André Pirmez

Managing director · since 02 juin 2023 · until 02 juin 2029

Active

Laurence van der Straten Waillet

Director · since 02 juin 2023 · until 02 juin 2029

Active

Ended mandates

André Pirmez

Managing director · since 02 juin 2023 · until 02 juin 2026

Ended

Laurence van der Straten Waillet

Director · since 02 juin 2023 · until 02 juin 2026

Ended

André Pirmez

Director · since 02 juin 2017

Ended

André Pirmez

Managing director · since 02 juin 2017 · until 02 juin 2023

Ended

At this address

Other companies at this address

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HTK● Active	0894.564.583
HTK TWO● Active	0759.643.127
TIRAM● Active	0418.684.563

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	31/08/2026	26/08/2025	28/08/2024	10/08/2023	24/08/2022	31/08/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	02/06/2023	03/06/2022	04/06/2021
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	05/06/2026	31/08/2026	French	PDF
Abridged model	31/12/2024	06/06/2025	26/08/2025	French	PDF
Abridged model	31/12/2023	07/06/2024	28/08/2024	French	PDF
Abridged model	31/12/2022	02/06/2023	10/08/2023	French	PDF
Abridged model	31/12/2021	03/06/2022	24/08/2022	French	PDF
Abridged model	31/12/2020	04/06/2021	31/08/2021	French	PDF
Abridged model	31/12/2019	05/06/2020	27/10/2020	French	PDF
Abridged model	31/12/2018	07/06/2019	09/08/2019	French	PDF
Abridged model	31/12/2017	01/06/2018	28/08/2018	French	PDF
Abridged model	31/12/2016	02/06/2017	18/08/2017	French	PDF
Abridged model	31/12/2015	03/06/2016	29/08/2016	French	PDF
Abridged model	31/12/2014	05/06/2015	21/08/2015	French	PDF
Abridged model	31/12/2013	06/06/2014	22/08/2014	French	PDF
Abridged model	31/12/2012	07/06/2013	23/08/2013	French	PDF
Abridged model	31/12/2011	01/06/2012	17/08/2012	French	PDF
Abridged model	31/12/2010	03/06/2011	19/08/2011	French	PDF
Abridged model	31/12/2009	04/06/2010	19/08/2010	French	PDF
Abridged model	31/12/2008	05/06/2009	21/08/2009	French	PDF
Abridged model	31/12/2007	06/06/2008	13/08/2008	French	PDF
Abridged model	31/12/2006	01/06/2007	27/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 2 active · 16 ended

Active mandates

André Pirmez

Managing director · since 02 juin 2023 · until 02 juin 2029

Active

Laurence van der Straten Waillet

Director · since 02 juin 2023 · until 02 juin 2029

Active

Ended mandates

André Pirmez

Managing director · since 02 juin 2023 · until 02 juin 2026

Ended

Laurence van der Straten Waillet

Director · since 02 juin 2023 · until 02 juin 2026

Ended

André Pirmez

Director · since 02 juin 2017

Ended

André Pirmez

Managing director · since 02 juin 2017 · until 02 juin 2023

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other16/11/2023
ASSEMBLEE GENERALE
PDF
Mandates31/07/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates28/08/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates29/09/2011
DEMISSIONS, NOMINATIONS
PDF
Other24/01/2008
MODIFICATIONS STATUTAIRES
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 2025621,6 k €↓
2024
Annual accounts 20242,4 M €↑
2023
Annual accounts 20232 M €↑
2022
Annual accounts 2022482,4 k €↓
2021
Annual accounts 20211,1 M €↑
2018
Annual accounts 2018371,5 k €↓
2017
Annual accounts 20171,6 M €↑
2016
Annual accounts 2016637,5 k €↑
2015
Annual accounts 2015551,8 k €↑
2014
Annual accounts 2014455 k €↓
2013
Annual accounts 2013524,1 k €↑
2012
Annual accounts 2012432,8 k €↓
2011
Annual accounts 2011658,4 k €↓
2010
Annual accounts 2010787 k €↑
2009
Annual accounts 2009567,9 k €↑
2008
Annual accounts 2008-161,1 k €↓
2007
Annual accounts 2007559,4 k €↑
2006
Annual accounts 2006545,9 k €
24/12/1998
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

AZEM

Overview

What does AZEM do?

Trend over 18 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