ACTIVE

SWAP

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Financial year 2025 · closed on 31/12/2025

Net result

80,2 k €

+1165.4% YoY

Gross margin

123 k €

+936.9% YoY

Equity

860,1 k €

+10.3% YoY

What does SWAP do?

SWAP is a Public limited company incorporated in 1999. Its main activity is: Management consultancy activities. Its registered office is in Kapellen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0465.919.209

Incorporation

21/04/1999

Legal form

Public limited company

Registered office

Roerdomplei 20
2950 Kapellen · FlandreSee on map

Contributed capital

75 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

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

Joint committees (2)

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	123 k €	+937%	11,9 k €	+243%	-8,3 k €	-111%	76,7 k €	-85.3%	520,1 k €	+214%	165,5 k €	+124%	74 k €	+13.6%	65,1 k €	-18.6%	80 k €	+5.1%	76,1 k €	-0.1%	76,2 k €	-13.6%	88,2 k €	+11.5%	79,1 k €	+5.6%	74,9 k €	+6.8%	70,1 k €	+4339%	1,6 k €	-92.6%	21,4 k €	+150%	8,6 k €	-75.4%	34,8 k €	-5.5%	36,9 k €
EBITDA	117,4 k €	+1600%	6,9 k €	+148%	-14,4 k €	-120%	72,4 k €	-86.0%	515,3 k €	+220%	161 k €	+140%	67 k €	+13.2%	59,2 k €	-9.3%	65,3 k €	+28.7%	50,7 k €	+0.9%	50,2 k €	-35.2%	77,5 k €	+3.7%	74,7 k €	+7.5%	69,5 k €	+8.1%	64,3 k €	+3064%	-2,2 k €	-117%	12,9 k €	+129%	5,6 k €	-69.9%	18,8 k €	-35.9%	29,3 k €
Operating result	117,4 k €	+18906%	617,5 €	+101%	-42,4 k €	-259%	26,7 k €	-94.3%	468,9 k €	+315%	113,1 k €	+492%	19,1 k €	-44.1%	34,2 k €	-35.1%	52,7 k €	+41.6%	37,2 k €	+0.8%	36,9 k €	-44.3%	66,2 k €	+26.0%	52,6 k €	+10.9%	47,4 k €	+11.3%	42,6 k €	+383%	-15 k €	-1437%	-978,9 €	+66.9%	-3 k €	-134%	8,6 k €	+11.8%	7,7 k €
Net result	80,2 k €	+1165%	6,3 k €	+116%	-39,1 k €	-319%	17,8 k €	-94.4%	318 k €	+317%	76,3 k €	+759%	8,9 k €	-64.2%	24,8 k €	-29.3%	35,1 k €	+38.3%	25,4 k €	+33.5%	19 k €	-59.5%	46,9 k €	+1.2%	46,4 k €	+80.6%	25,7 k €	+231%	7,8 k €	+1070%	664 €	-97.6%	27,6 k €	+605%	3,9 k €	-12.3%	4,5 k €	+616%	622,9 €
Balance sheet
Equity	860,1 k €	+10.3%	779,9 k €	+0.8%	773,5 k €	-4.8%	812,7 k €	+2.2%	794,8 k €	+66.7%	476,8 k €	+19.0%	400,5 k €	+2.3%	391,7 k €	+6.8%	366,8 k €	+10.6%	331,7 k €	+8.3%	306,3 k €	+3.1%	297,1 k €	+12.0%	265,2 k €	+21.2%	218,8 k €	+13.3%	193,1 k €	+4.2%	185,3 k €	+0.4%	184,7 k €	+17.6%	157,1 k €	+2.6%	153,2 k €	+3.0%	148,7 k €
Total assets	868,1 k €	+10.1%	788,2 k €	-0.3%	790,4 k €	-3.2%	816,3 k €	-18.6%	1 M €	+42.5%	703,5 k €	+18.2%	595,2 k €	+26.9%	468,9 k €	+12.4%	417,2 k €	+0.0%	417,1 k €	+23.1%	338,7 k €	+3.1%	328,4 k €	+1.6%	323,2 k €	+0.7%	320,8 k €	-15.8%	381 k €	+4.1%	365,9 k €	+35.6%	269,9 k €	+3.2%	261,6 k €	+30.8%	200 k €	+16.9%	171,1 k €
Cash	441 k €	+89.2%	233,1 k €	+30.1%	179,2 k €	-43.8%	318,9 k €	-46.4%	595,5 k €	+106%	289 k €	+388%	59,2 k €	-3.4%	61,3 k €	+2792%	2,1 k €	-94.9%	41,6 k €	+92.8%	21,6 k €	-76.7%	92,6 k €	+16.2%	79,7 k €	-26.5%	108,4 k €	+115%	50,5 k €	-45.4%	92,6 k €	+249%	26,5 k €	-60.7%	67,5 k €	+203%	22,3 k €	-41.0%	37,7 k €
Debts	7,9 k €	-4.8%	8,3 k €	-50.5%	16,8 k €	+365%	3,6 k €	-98.3%	207,1 k €	-8.3%	225,9 k €	+16.6%	193,8 k €	+153%	76,4 k €	+53.5%	49,8 k €	-38.7%	81,3 k €	+231%	24,5 k €	-16.4%	29,3 k €	-48.5%	57 k €	-44.1%	102 k €	-45.7%	187,9 k €	+4.0%	180,6 k €	+123%	80,8 k €	-19.2%	100 k €	+176%	36,2 k €	+158%	14 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		0,6 ETP	+200%	0,2 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 · 2 active · 13 ended

Active mandates

EDWINE WAGEMANS

Director · since 02 mai 2025 · until 01 mai 2026

Active

JAN SMITS

Director · since 02 mai 2025 · until 01 mai 2029

Active

Ended mandates

EDWINE WAGEMANS

Mandate · since 03 mai 2017 · until 02 mai 2023

Ended

EDWINE WAGEMANS

Director · since 03 mai 2017 · until 02 mai 2023

Ended

JAN SMITS

Managing director · since 03 mai 2017 · until 02 mai 2023

Ended

EDWINE WAGEMANS

Director · since 03 mai 2011 · until 02 mai 2017

Ended

At this address

Other companies at this address

Company	CBE no.
Conynenberg● Active	0782.980.931

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	19/06/2026	07/07/2025	21/06/2024	26/06/2023	28/07/2022	05/08/2021
General meeting	31/03/2026	05/05/2025	06/05/2024	02/05/2023	02/05/2022	03/05/2021
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	31/03/2026	19/06/2026	Dutch	PDF
Micro model	31/12/2024	05/05/2025	07/07/2025	Dutch	PDF
Micro model	31/12/2023	06/05/2024	21/06/2024	Dutch	PDF
Micro model	31/12/2022	02/05/2023	26/06/2023	Dutch	PDF
Micro model	31/12/2021	02/05/2022	28/07/2022	Dutch	PDF
Micro model	31/12/2020	03/05/2021	05/08/2021	Dutch	PDF
Micro model	31/12/2019	04/05/2020	03/06/2020	Dutch	PDF
Micro model	31/12/2018	06/05/2019	14/06/2019	Dutch	PDF
Micro model	31/12/2017	07/05/2018	28/05/2018	Dutch	PDF
Micro model	31/12/2016	02/05/2017	01/06/2017	Dutch	PDF
Abridged model	31/12/2015	02/05/2016	30/08/2016	Dutch	PDF
Abridged model	31/12/2014	04/05/2015	13/05/2015	Dutch	PDF
Abridged model	31/12/2013	05/05/2014	26/05/2014	Dutch	PDF
Abridged model	31/12/2012	06/05/2013	14/05/2013	Dutch	PDF
Abridged model	31/12/2011	07/05/2012	15/05/2012	Dutch	PDF
Abridged model	31/12/2010	02/05/2011	24/05/2011	Dutch	PDF
Abridged model	31/12/2009	03/05/2010	20/05/2010	Dutch	PDF
Abridged model	31/12/2008	04/05/2009	18/06/2009	Dutch	PDF
Abridged model	31/12/2007	05/05/2008	03/06/2008	Dutch	PDF
Abridged model	31/12/2006	07/05/2007	06/06/2007	Dutch	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 · 2 active · 13 ended

Active mandates

EDWINE WAGEMANS

Director · since 02 mai 2025 · until 01 mai 2026

Active

JAN SMITS

Director · since 02 mai 2025 · until 01 mai 2029

Active

Ended mandates

EDWINE WAGEMANS

Mandate · since 03 mai 2017 · until 02 mai 2023

Ended

EDWINE WAGEMANS

Director · since 03 mai 2017 · until 02 mai 2023

Ended

JAN SMITS

Managing director · since 03 mai 2017 · until 02 mai 2023

Ended

EDWINE WAGEMANS

Director · since 03 mai 2011 · until 02 mai 2017

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/12/2025
ONTSLAGEN - BENOEMINGEN
PDF
Registered office10/03/2023
MAATSCHAPPELIJKE ZETEL
PDF
Mandates15/10/2018
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/07/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/08/2012
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/10/2006
ONTSLAGEN - BENOEMINGEN
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 202580,2 k €↑
2024
Annual accounts 20246,3 k €↑
2023
Annual accounts 2023-39,1 k €↓
2022
Annual accounts 202217,8 k €↓
2021
Annual accounts 2021318 k €↑
2020
Annual accounts 202076,3 k €↑
2019
Annual accounts 20198,9 k €↓
2018
Annual accounts 201824,8 k €↓
2017
Annual accounts 201735,1 k €↑
2016
Annual accounts 201625,4 k €↑
2015
Annual accounts 201519 k €↓
2014
Annual accounts 201446,9 k €↑
2013
Annual accounts 201346,4 k €↑
2012
Annual accounts 201225,7 k €↑
2011
Annual accounts 20117,8 k €↑
2010
Annual accounts 2010664 €↓
2009
Annual accounts 200927,6 k €↑
2008
Annual accounts 20083,9 k €↓
2007
Annual accounts 20074,5 k €↑
2006
Annual accounts 2006622,9 €
21/04/1999
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

SWAP

Overview

What does SWAP 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