ACTIVE

Expansion Partners

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Financial year 2025 · Closed on 31/12/2025

Net result808 €-87,4 %over 1 year

Gross margin1,8 M €+1,3 %over 1 year

Equity825,5 k €+0,1 %over 1 year

Workforce32,0 ETP-9,1 %over 1 year

Identity

Source · BCE/KBO

Expansion Partners is a Public limited company incorporated in 1999. Its main activity is: Management consultancy activities. Its registered office is in Namur. It employs on average 32,0 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0466.684.717
Incorporation: 13/08/1999
Legal form: Public limited company
Registered office: Rue de Jausse(WD) 109
5100 Namur · WallonieSee on map
Contributed capital: 62 000,00 €
Latest accounts: 31/12/2025
Average workforce: 32,0 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 73200Market research and public opinion polling 73200Market research and public opinion polling 74131Specialised design activities 74142Specialised design activities

Joint committees (3)

Contacts

4 public details availableLog in to view

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 23 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	1,8 M €	+1.3%	1,7 M €	-6.4%	1,8 M €	+7.5%	1,7 M €	-14.4%	2 M €
EBITDA	111,6 k €	-17.6%	135,5 k €	-12.9%	155,5 k €	-17.3%	188 k €	-52.4%	394,8 k €
Operating result	16,8 k €	-52.4%	35,3 k €	-63.0%	95,4 k €	-21.9%	122,2 k €	-64.7%	345,8 k €
Net result	808 €	-87.4%	6,4 k €	-86.8%	48,5 k €	-39.1%	79,6 k €	-70.1%	265,8 k €
Balance sheet
Equity	825,5 k €	+0.1%	824,7 k €	+0.8%	818,3 k €	+6.3%	769,8 k €	+0.4%	766,9 k €
Total assets	2,4 M €	-7.4%	2,5 M €	-19.0%	3,1 M €	+30.3%	2,4 M €	-4.8%	2,5 M €
Cash	89 k €	-70.4%	301 k €	-6.4%	321,8 k €	-37.8%	517,6 k €	+5.5%	490,6 k €
Debts	1,5 M €	-10.6%	1,7 M €	-26.5%	2,3 M €	+39.5%	1,6 M €	+1.6%	1,6 M €
Other
Workforce	32,0 ETP	-9.1%	35,2 ETP	+7.6%	32,7 ETP	+6.5%	30,7 ETP	-10.2%	34,2 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 11 ended

Active mandates

Arnaud Van Cutsem

Mandate

Active

Bertrand Van den Dooren

Mandate

Active

Ended mandates

ARNAUD VAN CUTSEM

Managing director · since 30 juin 2017 · until 29 juin 2023

Ended

BERTRAND VAN DEN DOOREN

Managing director · since 30 juin 2017 · until 29 juin 2023

Ended

PIERRE BODART

Director · since 01 août 2012 · until 29 juin 2017

Ended

Arnaud Van Cutsem

Managing director · since 30 juin 2011 · until 29 juin 2017

Ended

Other companies at this address

Rue de Jausse(WD) 109 5100 Namur

Company	CBE no.
AB ADVERTISING● Active	0542.968.980
BUSINESS CENTER WIERDE● Active	0666.733.260
La Société du Crématorium d’Eghezée● Active	1035.854.684
TARGET ADVERTISING● Active	0631.867.502
VHS AGENCY● Active	0645.602.702
WEBUP● Active	0682.752.514

Full financial information

Source · NBB

	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	12/08/2026	30/06/2025	30/07/2024	13/10/2023	24/10/2022	28/09/2021
General meeting	16/06/2026	10/06/2025	28/06/2024	15/09/2023	31/08/2022	30/08/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 23 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	16/06/2026	12/08/2026	French	PDF
Abridged model	31/12/2024	10/06/2025	30/06/2025	French	PDF
Abridged model	31/12/2023	28/06/2024	30/07/2024	French	PDF
Abridged model	31/12/2022	15/09/2023	13/10/2023	French	PDF
Abridged model	31/12/2021	31/08/2022	24/10/2022	French	PDF
Abridged model	31/12/2020	30/08/2021	28/09/2021	French	PDF
Abridged model	31/12/2019	07/09/2020	01/10/2020	French	PDF
Abridged model	31/12/2018	30/06/2019	31/07/2019	French	PDF
Abridged model	31/12/2017	30/06/2018	03/08/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	31/07/2017	French	PDF
Abridged model	31/12/2015	30/06/2016	12/08/2016	French	PDF
Abridged model	31/12/2014	30/06/2015	30/07/2015	French	PDF
Abridged model	31/12/2013	30/06/2014	29/07/2014	French	PDF
Abridged model	31/12/2012	13/08/2013	16/08/2013	French	PDF
Abridged modelCorrection	31/12/2011	26/09/2012	28/09/2012	French	PDF
Abridged model	31/12/2011	27/07/2012	30/07/2012	French	PDF
Abridged model	31/12/2010	30/06/2011	01/08/2011	French	PDF
Abridged modelCorrection	31/12/2009	30/06/2010	02/09/2010	French	PDF
Abridged model	31/12/2009	30/06/2010	29/07/2010	French	PDF
Abridged model	31/12/2008	30/06/2009	31/07/2009	French	PDF
Abridged model	31/12/2007	19/07/2008	18/08/2008	French	PDF
Abridged modelCorrection	31/12/2006	29/08/2007	30/08/2007	French	PDF
Abridged model	31/12/2006	30/06/2007	13/07/2007	French	PDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 11 ended

Active mandates

Arnaud Van Cutsem

Mandate

Active

Bertrand Van den Dooren

Mandate

Active

Ended mandates

ARNAUD VAN CUTSEM

Managing director · since 30 juin 2017 · until 29 juin 2023

Ended

BERTRAND VAN DEN DOOREN

Managing director · since 30 juin 2017 · until 29 juin 2023

Ended

PIERRE BODART

Director · since 01 août 2012 · until 29 juin 2017

Ended

Arnaud Van Cutsem

Managing director · since 30 juin 2011 · until 29 juin 2017

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Other13/12/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates26/09/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates26/09/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates24/05/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates31/08/2017
DEMISSIONS, NOMINATIONS
PDF
Restructuring08/12/2016
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring23/09/2016
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates10/10/2012
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF

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A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

2025
Annual accounts 2025808 €↓
2024
Annual accounts 20246,4 k €↓
2023
Annual accounts 202348,5 k €↓
2022
Annual accounts 202279,6 k €↓
2021
Annual accounts 2021265,8 k €↑
2020
Annual accounts 2020105,5 k €↑
2019
Annual accounts 201977,1 k €↓
2018
Annual accounts 2018175 k €↑
2017
Annual accounts 201727,3 k €↓
2016
Annual accounts 2016241 k €↑
2015
Annual accounts 2015203,5 k €↑
2014
Annual accounts 2014168,5 k €↑
2013
Annual accounts 201384,7 k €↑
2012
Annual accounts 201256,1 k €↓
2011
Annual accounts 2011174,8 k €↑
2010
Annual accounts 2010115,1 k €↓
2009
Annual accounts 2009192,4 k €↑
2008
Annual accounts 2008-9,8 k €↓
2007
Annual accounts 200775,6 k €↓
2006
Annual accounts 2006174,3 k €
13/08/1999
IncorporationPublic limited company

Expansion Partners

Overview

Identity

Financials

Valuation

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

Timeline