ACTIVE

Epsilon Cities

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Financial year 2025 · closed on 31/12/2025

Net result

66,4 M €

+2558.3% YoY

Gross margin

431,4 k €

-34.8% YoY

Equity

84,4 M €

+370.0% YoY

What does Epsilon Cities do?

Epsilon Cities is a Public limited company incorporated in 1999. Its main activity is: Management consultancy activities. Its registered office is in Bree.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0465.582.182

Incorporation

04/03/1999

Legal form

Public limited company

Registered office

Industrieterrein Kanaal-Noord 1159
3960 Bree · FlandreSee on map

Contributed capital

104 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

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

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 13 financial years

	2025		2024		2023		2022		2021		2020		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	431,4 k €	-34.8%	661,9 k €	+1.5%	652,2 k €	+3.4%	630,9 k €	+6.4%	592,8 k €	+15.8%	512 k €	+28.8%	397,5 k €	-6.5%	425,2 k €	-0.1%	425,5 k €	+2.5%	415 k €	+25.9%	329,6 k €	+7.0%	308,1 k €	+1.6%	303,4 k €
EBITDA	348,9 k €	-40.7%	588,6 k €	+0.9%	583,3 k €	+2.8%	567,7 k €	+6.3%	533,8 k €	+13.2%	471,6 k €	+28.1%	368,3 k €	-6.5%	394,1 k €	-1.5%	400,2 k €	+2.7%	389,6 k €	+27.7%	305,2 k €	+7.5%	283,8 k €	+1.6%	279,5 k €
Operating result	175,1 k €	-57.6%	413 k €	+26.3%	327 k €	+1.8%	321,1 k €	+16.7%	275,2 k €	-8.8%	301,8 k €	+49.7%	201,6 k €	-9.0%	221,4 k €	+4.3%	212,3 k €	-4.4%	222 k €	+55.9%	142,4 k €	-4.4%	149 k €	+0.4%	148,4 k €
Net result	66,4 M €	+2558%	2,5 M €	+552%	383,5 k €	-23.8%	503,1 k €	-72.7%	1,8 M €	-31.7%	2,7 M €	+50.8%	1,8 M €	+31.5%	1,4 M €	+14.9%	1,2 M €	-3.6%	1,2 M €	+31.2%	938 k €	+3.8%	904 k €	+174%	330,3 k €
Balance sheet
Equity	84,4 M €	+370%	18 M €	-5.3%	19 M €	+2.1%	18,6 M €	+2.8%	18,1 M €	+11.4%	16,2 M €	+182%	5,7 M €	+45.3%	4 M €	+18.3%	3,3 M €	-38.2%	5,4 M €	+29.5%	4,2 M €	+29.0%	3,2 M €	+38.7%	2,3 M €
Total assets	84,5 M €	+315%	20,4 M €	-7.1%	21,9 M €	+5.5%	20,8 M €	+12.7%	18,5 M €	+11.7%	16,5 M €	+73.0%	9,6 M €	+18.7%	8 M €	+16.2%	6,9 M €	+8.3%	6,4 M €	+20.8%	5,3 M €	+21.1%	4,4 M €	+2.3%	4,3 M €
Cash	2,5 M €	-43.3%	4,4 M €	+19358%	22,5 k €	-95.9%	554 k €	-80.3%	2,8 M €	-40.9%	4,8 M €	+281%	1,2 M €	-43.4%	2,2 M €	-2.5%	2,3 M €	+47.9%	1,5 M €	+184%	538,1 k €	+123%	241,3 k €	+32.9%	181,6 k €
Debts	147,8 k €	-93.9%	2,4 M €	-18.4%	3 M €	+33.8%	2,2 M €	+974%	207 k €	-30.9%	299,5 k €	-91.6%	3,6 M €	-8.3%	3,9 M €	+12.9%	3,4 M €	+284%	896 k €	-11.0%	1 M €	-1.9%	1 M €	-44.5%	1,9 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 8 ended

Active mandates

Danielle Vandormael

Director · since 07 mai 2024 · until 07 mai 2030

Active

Dirk Gorré

Managing director · since 07 mai 2024 · until 07 mai 2030

Active

Ended mandates

Daniëlle Vandormael

Director · since 01 juin 2018 · until 01 juin 2024

Ended

Dirk Gorré

Managing director · since 01 juin 2018 · until 01 juin 2024

Ended

Danielle Vandormael

Director · since 01 juin 2012 · until 01 juin 2018

Ended

Dirk Gorré

Managing director · since 01 juin 2012 · until 01 juin 2018

Ended

At this address

Other companies at this address

Company	CBE no.
EPSILON● Active	0444.856.351
SWITCHPOINT● Active	0447.987.075

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	13/08/2026	17/07/2025	15/07/2024	20/07/2023	15/07/2022	16/07/2021
General meeting	30/06/2026	24/06/2025	30/06/2024	30/06/2023	30/06/2022	20/06/2021
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	13/08/2026	Dutch	PDF
Abridged model	31/12/2024	24/06/2025	17/07/2025	Dutch	PDF
Abridged model	31/12/2023	30/06/2024	15/07/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	20/07/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	15/07/2022	Dutch	PDF
Abridged model	31/12/2020	20/06/2021	16/07/2021	Dutch	PDF
Abridged model	31/12/2019	05/06/2020	24/07/2020	Dutch	PDF
Abridged model	31/12/2018	07/06/2019	30/08/2019	Dutch	PDF
Abridged model	31/12/2017	01/06/2018	30/08/2018	Dutch	PDF
Abridged model	31/12/2016	02/06/2017	19/07/2017	Dutch	PDF
Abridged model	31/12/2015	03/06/2016	19/07/2016	Dutch	PDF
Abridged model	31/12/2014	05/06/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	06/06/2014	24/07/2014	Dutch	PDF
Abridged model	31/12/2012	07/06/2013	19/07/2013	Dutch	PDF
Abridged model	31/12/2011	01/06/2012	25/07/2012	Dutch	PDF
Abridged model	31/12/2010	03/06/2011	10/08/2011	Dutch	PDF
Abridged model	31/12/2009	04/06/2010	31/08/2010	Dutch	PDF
Abridged model	31/12/2008	05/06/2009	28/07/2009	Dutch	PDF
Abridged model	31/12/2007	06/06/2008	23/07/2008	Dutch	PDF
Abridged model	31/12/2006	01/06/2007	06/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 · 8 ended

Active mandates

Danielle Vandormael

Director · since 07 mai 2024 · until 07 mai 2030

Active

Dirk Gorré

Managing director · since 07 mai 2024 · until 07 mai 2030

Active

Ended mandates

Daniëlle Vandormael

Director · since 01 juin 2018 · until 01 juin 2024

Ended

Dirk Gorré

Managing director · since 01 juin 2018 · until 01 juin 2024

Ended

Danielle Vandormael

Director · since 01 juin 2012 · until 01 juin 2018

Ended

Dirk Gorré

Managing director · since 01 juin 2012 · until 01 juin 2018

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates21/09/2026
Benoeming commissaris
PDF
Mandates02/03/2026
ONTSLAGEN - BENOEMINGEN
PDF
Registered office06/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING - MAATSCHAPPELIJKE ZETEL
PDF
Mandates15/10/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/01/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/10/2006
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares17/01/2006
KAPITAAL - AANDELEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office18/01/2005
MAATSCHAPPELIJKE ZETEL
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 202566,4 M €↑
2024
Annual accounts 20242,5 M €↑
2023
Annual accounts 2023383,5 k €↓
2023
Name changeEPSILON CITIES
2022
Annual accounts 2022503,1 k €↓
2021
Annual accounts 20211,8 M €↓
2021
Name changeDG Invest
2020
Annual accounts 20202,7 M €↑
2012
Annual accounts 20121,8 M €↑
2011
Annual accounts 20111,4 M €↑
2010
Annual accounts 20101,2 M €↓
2009
Annual accounts 20091,2 M €↑
2008
Annual accounts 2008938 k €↑
2007
Annual accounts 2007904 k €↑
2006
Annual accounts 2006330,3 k €
2006
Name changeD.G. INVEST
04/03/1999
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

Epsilon Cities

Overview

What does Epsilon Cities do?

Trend over 13 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