ACTIVE

ALIWAR

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Financial year 2025 · closed on 31/12/2025

Net result

619,9 k €

+233.9% YoY

Gross margin

2,2 M €

+9699.2% YoY

Equity

104 k €

+23.7% YoY

Workforce

46,4 ETP

+274.2% YoY

What does ALIWAR do?

ALIWAR is a Public limited company incorporated in 1999. Its registered office is in Waremme. It employs on average 46,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0465.735.701

Incorporation

29/03/1999

Legal form

Public limited company

Registered office

Chaussée Romaine (War) 189
4300 Waremme · WallonieSee on map

Contributed capital

62 500,00 €

Latest accounts

31/12/2025

Average workforce

46,4 ETP

Joint committees (3)

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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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	2,2 M €	+9699%	22,4 k €	+133%	-68,7 k €	-131%	218,6 k €	-52.1%	456,8 k €	-31.3%	664,8 k €	+53.3%	433,8 k €	-23.4%	566,6 k €	+9.1%	519,5 k €	-6.9%	557,8 k €	+31.5%	424,2 k €	-17.2%	512,5 k €	+24.0%	413,2 k €	-10.3%	460,7 k €	+14.3%	403,2 k €	-25.8%	543,7 k €	+15.5%	470,7 k €	+51.7%	310,3 k €	-38.8%	507 k €	+313%	122,6 k €
EBITDA	931,5 k €	+350%	-371,9 k €	-2.0%	-364,6 k €	-389%	-74,5 k €	-164%	116 k €	-61.8%	303,6 k €	+723%	36,9 k €	-81.6%	200,7 k €	+19.9%	167,3 k €	+463%	29,7 k €	+278%	-16,7 k €	+78.6%	-77,8 k €	+57.0%	-180,7 k €	-63.1%	-110,8 k €	-2.8%	-107,8 k €	-478%	28,5 k €	+235%	-21 k €	+89.7%	-203,7 k €	-1434%	15,3 k €	-65.1%	43,8 k €
Operating result	701,2 k €	+257%	-445,5 k €	+8.1%	-484,7 k €	-92.7%	-251,5 k €	-305%	-62,1 k €	-149%	126,1 k €	+190%	-140,7 k €	-320%	64 k €	-59.5%	157,9 k €	+467%	27,8 k €	+250%	-18,6 k €	+76.7%	-79,7 k €	+55.9%	-180,7 k €	-63.0%	-110,9 k €	-1.7%	-109,1 k €	-484%	28,4 k €	+233%	-21,4 k €	+89.5%	-203,9 k €	-1460%	15 k €	-65.8%	43,8 k €
Net result	619,9 k €	+234%	-463,1 k €	+6.2%	-493,9 k €	-88.3%	-262,2 k €	-245%	-75,9 k €	-184%	90,4 k €	+146%	-196,6 k €	-975%	22,5 k €	-81.8%	123,6 k €	+1940%	-6,7 k €	+87.2%	-52,4 k €	+54.1%	-114,1 k €	+45.6%	-209,5 k €	-54.4%	-135,7 k €	-2.9%	-131,8 k €	-1461%	9,7 k €	+124%	-39,6 k €	+83.9%	-245,8 k €	-5942%	-4,1 k €	-110%	40,6 k €
Balance sheet
Equity	104 k €	+23.7%	84,1 k €	+105%	-1,7 M €	-42.2%	-1,2 M €	-28.9%	-907,8 k €	-9.1%	-831,9 k €	+9.8%	-922,3 k €	-27.1%	-725,6 k €	+3.0%	-748,1 k €	+14.2%	-871,7 k €	-0.8%	-865 k €	-6.4%	-812,6 k €	-16.3%	-698,5 k €	-42.8%	-489 k €	-38.4%	-353,4 k €	-59.5%	-221,6 k €	+4.2%	-231,2 k €	-20.6%	-191,7 k €	-454%	54,1 k €	-7.0%	58,2 k €
Total assets	4,2 M €	+106%	2,1 M €	+104%	1 M €	+23.1%	819,3 k €	-23.9%	1,1 M €	-17.5%	1,3 M €	-16.5%	1,6 M €	-13.7%	1,8 M €	+11.6%	1,6 M €	+97.7%	821,4 k €	+11.7%	735,4 k €	-15.6%	871,5 k €	+0.7%	865,1 k €	+16.3%	743,6 k €	+15.0%	646,6 k €	-9.7%	716,4 k €	-8.3%	781,4 k €	+13.3%	689,5 k €	-11.0%	774,6 k €	-11.5%	875 k €
Cash	1,3 M €	+19.3%	1,1 M €	+225%	347,1 k €	+165%	131 k €	-18.8%	161,3 k €	-27.1%	221,4 k €	-9.2%	243,8 k €	+1.7%	239,7 k €	-12.6%	274,2 k €	+16.6%	235,1 k €	+9.9%	213,9 k €	-25.9%	288,8 k €	+4.3%	276,8 k €	+27.5%	217 k €	+60.1%	135,6 k €	-35.7%	210,8 k €	-22.3%	271,5 k €	+85.0%	146,7 k €	-45.0%	266,8 k €	-40.6%	448,9 k €
Debts	4,1 M €	+109%	2 M €	-26.3%	2,7 M €	+34.3%	2 M €	+0.2%	2 M €	-7.2%	2,1 M €	-14.0%	2,5 M €	-2.0%	2,5 M €	+7.0%	2,4 M €	+40.1%	1,7 M €	+5.8%	1,6 M €	-4.6%	1,7 M €	+9.4%	1,5 M €	+27.4%	1,2 M €	+20.9%	995,7 k €	+6.2%	938 k €	-7.4%	1 M €	+14.9%	881,2 k €	+22.3%	720,6 k €	-11.8%	816,9 k €
Other
Workforce	46,4 ETP	+274%	12,4 ETP	+45.9%	8,5 ETP	-1.2%	8,6 ETP	-21.8%	11,0 ETP	-17.9%	13,4 ETP	-4.3%	14,0 ETP	-4.8%	14,7 ETP	-3.3%	15,2 ETP	-0.7%	15,3 ETP	-0.6%	15,4 ETP	-10.5%	17,2 ETP	-3.4%	17,8 ETP	+6.6%	16,7 ETP	+5.7%	15,8 ETP	-8.7%	17,3 ETP	+7.5%	16,1 ETP	-6.4%	17,2 ETP	-9.0%	18,9 ETP	+473%	3,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 14 ended

Active mandates

MICOWAR

Director · since 26 août 2024 · 1012.685.839

Represented by NICOLAS BRUMIOUL

Active

Ended mandates

CEDRIC DEGAVRE

Director · since 18 août 2023

Ended

MARTIN STAELENS

Director · since 18 août 2023

Ended

Bruno CRASSINIS

Managing director · since 14 juin 2018 · until 14 juin 2024

Ended

Ines LOLLATO

Director · since 14 juin 2018 · until 14 juin 2024

Ended

At this address

Other companies at this address

Company	CBE no.
MICOWAR● Active	1012.685.839

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	02/07/2026	26/08/2025	02/07/2024	08/06/2023	21/06/2022	01/07/2021
General meeting	11/06/2026	12/06/2025	13/06/2024	08/06/2023	09/06/2022	10/06/2021
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	11/06/2026	02/07/2026	French	PDF
Abridged model	31/12/2024	12/06/2025	26/08/2025	French	PDF
Abridged model	31/12/2023	13/06/2024	02/07/2024	French	PDF
Abridged model	31/12/2022	08/06/2023	08/06/2023	French	PDF
Abridged model	31/12/2021	09/06/2022	21/06/2022	French	PDF
Abridged model	31/12/2020	10/06/2021	01/07/2021	French	PDF
Abridged model	31/12/2019	11/06/2020	12/06/2020	French	PDF
Abridged model	31/12/2018	13/06/2019	24/07/2019	French	PDF
Abridged model	31/12/2017	14/06/2018	29/06/2018	French	PDF
Abridged model	31/12/2016	08/06/2017	26/06/2017	French	PDF
Abridged model	31/12/2015	09/06/2016	05/07/2016	French	PDF
Abridged model	31/12/2014	11/06/2015	01/07/2015	French	PDF
Abridged model	31/12/2013	12/06/2014	16/06/2014	French	PDF
Abridged model	31/12/2012	13/06/2013	21/06/2013	French	PDF
Abridged model	31/12/2011	14/06/2012	15/06/2012	French	PDF
Abridged model	31/12/2010	09/06/2011	14/06/2011	French	PDF
Abridged model	31/12/2009	10/06/2010	16/06/2010	French	PDF
Abridged model	31/12/2008	11/06/2009	12/06/2009	French	PDF
Abridged model	31/12/2007	12/06/2008	13/06/2008	French	PDF
Abridged model	31/12/2006	14/06/2007	26/06/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 · 14 ended

Active mandates

MICOWAR

Director · since 26 août 2024 · 1012.685.839

Represented by NICOLAS BRUMIOUL

Active

Ended mandates

CEDRIC DEGAVRE

Director · since 18 août 2023

Ended

MARTIN STAELENS

Director · since 18 août 2023

Ended

Bruno CRASSINIS

Managing director · since 14 juin 2018 · until 14 juin 2024

Ended

Ines LOLLATO

Director · since 14 juin 2018 · until 14 juin 2024

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates26/08/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Capital / shares22/08/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET - CAPITAL, ACTIONS
PDF
Mandates28/11/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates13/10/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates31/08/2012
DEMISSIONS, NOMINATIONS
PDF
Mandates12/12/2006
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates05/07/2005
DEMISSIONS, NOMINATIONS
PDF
Registered office13/01/2004
SIEGE SOCIAL
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 2025619,9 k €↑
2024
Annual accounts 2024-463,1 k €↑
2023
Annual accounts 2023-493,9 k €↓
2022
Annual accounts 2022-262,2 k €↓
2021
Annual accounts 2021-75,9 k €↓
2020
Annual accounts 202090,4 k €↑
2019
Annual accounts 2019-196,6 k €↓
2018
Annual accounts 201822,5 k €↓
2017
Annual accounts 2017123,6 k €↑
2016
Annual accounts 2016-6,7 k €↑
2015
Annual accounts 2015-52,4 k €↑
2014
Annual accounts 2014-114,1 k €↑
2013
Annual accounts 2013-209,5 k €↓
2012
Annual accounts 2012-135,7 k €↓
2011
Annual accounts 2011-131,8 k €↓
2010
Annual accounts 20109,7 k €↑
2009
Annual accounts 2009-39,6 k €↑
2008
Annual accounts 2008-245,8 k €↓
2007
Annual accounts 2007-4,1 k €↓
2006
Annual accounts 200640,6 k €
29/03/1999
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

ALIWAR

Overview

What does ALIWAR do?

Trend over 20 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