ACTIVE

SHELLBERRY

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Financial year 2025 · closed on 31/12/2025

Net result

-6,5 k €

+59.7% YoY

Gross margin

21,2 k €

+21.3% YoY

Equity

164,5 k €

-3.8% YoY

What does SHELLBERRY do?

SHELLBERRY is a Private company with limited liability incorporated in 1999. Its main activity is: Management consultancy activities. Its registered office is in Kraainem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0467.126.363

Incorporation

25/10/1999

Legal form

Private company with limited liability

Registered office

Avenue des Fauvettes 11
1950 Kraainem · FlandreSee on map

Contributed capital

20 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

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

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	21,2 k €	+21.3%	17,5 k €	+25.6%	13,9 k €	-44.6%	25,1 k €	-39.9%	41,8 k €	+29.9%	32,1 k €	-15.2%	37,9 k €	+81.5%	20,9 k €	-47.5%	39,8 k €	-62.4%	105,7 k €	-8.3%	115,2 k €	+21.3%	95 k €	+19.0%	79,8 k €	-30.5%	114,9 k €	-7.3%	124 k €	+56.5%	79,2 k €	-8.5%	86,6 k €	+77.4%	48,8 k €	+9.4%	44,6 k €
EBITDA	17,3 k €	+139%	7,2 k €	-28.3%	10,1 k €	-51.6%	20,9 k €	-43.7%	37,1 k €	+29.4%	28,7 k €	-14.6%	33,6 k €	+97.4%	17 k €	-51.5%	35,1 k €	-65.4%	101,4 k €	-8.2%	110,4 k €	+21.3%	91 k €	+20.6%	75,5 k €	-32.7%	112,2 k €	-7.1%	120,8 k €	+56.3%	77,3 k €	+161%	29,6 k €	-38.1%	47,9 k €	+9.5%	43,8 k €
Operating result	-6 k €	+60.7%	-15,4 k €	-21.3%	-12,7 k €	-574%	2,7 k €	-85.5%	18,4 k €	+275%	4,9 k €	-51.1%	10 k €	+292%	-5,2 k €	-141%	12,8 k €	-82.4%	73 k €	-4.6%	76,5 k €	+20.8%	63,3 k €	+34.6%	47,1 k €	-45.0%	85,5 k €	-7.2%	92,1 k €	+94.1%	47,5 k €	+1319%	3,3 k €	-91.6%	39,8 k €	+8.4%	36,7 k €
Net result	-6,5 k €	+59.7%	-16 k €	-22.5%	-13,1 k €	-13437%	-96,6 €	-101%	8,1 k €	+31076%	-26 €	-101%	3,9 k €	+134%	-11,6 k €	-438%	3,4 k €	-90.8%	37,4 k €	-5.0%	39,4 k €	+51.5%	26 k €	+62.4%	16 k €	-64.3%	44,8 k €	+6.8%	42 k €	+209%	13,6 k €	+315%	-6,3 k €	-133%	19,3 k €	-1.0%	19,5 k €
Balance sheet
Equity	164,5 k €	-3.8%	171 k €	-8.6%	187 k €	-6.5%	200,1 k €	-0.0%	200,2 k €	+4.2%	192,1 k €	-0.0%	192,1 k €	+2.1%	188,3 k €	-5.8%	199,8 k €	-0.2%	200,2 k €	+23.0%	162,8 k €	+31.9%	123,5 k €	+26.6%	97,5 k €	+19.6%	81,5 k €	+122%	36,7 k €	+5.8%	34,7 k €	-55.0%	77,1 k €	-7.6%	83,4 k €	+30.1%	64,1 k €
Total assets	397,5 k €	-0.4%	399 k €	+3.6%	385,3 k €	+27.3%	302,7 k €	+0.2%	302,1 k €	+12.0%	269,7 k €	+0.3%	268,8 k €	-5.0%	282,8 k €	-7.5%	305,8 k €	-40.7%	515,5 k €	+10.9%	464,7 k €	-0.9%	469 k €	-5.8%	497,7 k €	-8.1%	541,7 k €	-3.7%	562,5 k €	+1.5%	554,3 k €	-6.4%	592,3 k €	+112%	279,8 k €	+10.4%	253,5 k €
Cash	6,3 k €	+131%	2,7 k €	+2530%	102,9 €	-98.2%	5,8 k €	-27.2%	7,9 k €	-66.8%	23,9 k €	+1514%	1,5 k €	+108%	714 €	-54.3%	1,6 k €	-99.0%	160,4 k €	+97.0%	81,4 k €	+57.2%	51,8 k €	-22.6%	66,9 k €	-33.7%	100,8 k €	+8.8%	92,7 k €	+75.6%	52,8 k €	+11.7%	47,2 k €	-39.0%	77,4 k €	+71.8%	45,1 k €
Debts	230 k €	+2.2%	225,1 k €	+15.3%	195,2 k €	+96.0%	99,6 k €	+0.5%	99,1 k €	+32.6%	74,8 k €	+0.8%	74,1 k €	-18.6%	91 k €	-11.1%	102,4 k €	-52.5%	215,8 k €	-27.7%	298,4 k €	-12.8%	342,1 k €	-13.8%	396,7 k €	-13.1%	456,7 k €	-6.5%	488,4 k €	+5.9%	461,1 k €	-9.9%	511,7 k €	+168%	191 k €	+0.8%	189,4 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 5 ended

Active mandates

Francisca Reinhilde Rademakers

bestuurder

Active

Gerald Anthony Kelberg

Director

Active

Ended mandates

Francisca Reinhilde Rademakers

Manager · since 20 octobre 1999

Ended

Gerald Anthony Kelberg

Manager · since 20 octobre 1999

Ended

Francisca Reinhilde Rademakers

Manager

Ended

Gerald Anthony Kelberg

bestuurder

Ended

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	25/08/2026	25/08/2025	21/08/2024	30/08/2023	18/08/2022	26/08/2021
General meeting	31/07/2026	02/06/2025	05/08/2024	25/08/2023	29/07/2022	22/07/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	31/07/2026	25/08/2026	Dutch	PDF
Abridged model	31/12/2024	02/06/2025	25/08/2025	Dutch	PDF
Abridged model	31/12/2023	05/08/2024	21/08/2024	Dutch	PDF
Abridged model	31/12/2022	25/08/2023	30/08/2023	Dutch	PDF
Abridged model	31/12/2021	29/07/2022	18/08/2022	Dutch	PDF
Abridged model	31/12/2020	22/07/2021	26/08/2021	Dutch	PDF
Abridged model	31/12/2019	02/06/2020	16/09/2020	Dutch	PDF
Abridged model	31/12/2018	22/08/2019	27/08/2019	Dutch	PDF
Abridged model	31/12/2017	08/11/2018	28/12/2018	Dutch	PDF
Abridged model	31/12/2015	28/06/2016	29/08/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	25/08/2015	Dutch	PDF
Abridged model	31/12/2013	02/06/2014	30/06/2014	Dutch	PDF
Abridged model	31/12/2012	26/08/2013	29/08/2013	Dutch	PDF
Abridged model	31/12/2011	04/06/2012	17/08/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	30/08/2011	Dutch	PDF
Abridged model	31/12/2009	18/08/2010	30/08/2010	Dutch	PDF
Abridged model	31/12/2008	26/08/2009	28/08/2009	Dutch	PDF
Abridged model	31/12/2007	31/07/2008	27/08/2008	Dutch	PDF
Abridged model	31/12/2006	04/06/2007	02/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 · 2 active · 5 ended

Active mandates

Francisca Reinhilde Rademakers

bestuurder

Active

Gerald Anthony Kelberg

Director

Active

Ended mandates

Francisca Reinhilde Rademakers

Manager · since 20 octobre 1999

Ended

Gerald Anthony Kelberg

Manager · since 20 octobre 1999

Ended

Francisca Reinhilde Rademakers

Manager

Ended

Gerald Anthony Kelberg

bestuurder

Ended

Shareholders

Ownership and network

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Competition

Similar companies

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

See the Business plan

2025
Annual accounts 2025-6,5 k €↑
2024
Annual accounts 2024-16 k €↓
2023
Annual accounts 2023-13,1 k €↓
2022
Annual accounts 2022-96,6 €↓
2021
Annual accounts 20218,1 k €↑
2020
Annual accounts 2020-26 €↓
2019
Annual accounts 20193,9 k €↑
2018
Annual accounts 2018-11,6 k €↓
2017
Annual accounts 20173,4 k €↓
2015
Annual accounts 201537,4 k €↓
2014
Annual accounts 201439,4 k €↑
2013
Annual accounts 201326 k €↑
2012
Annual accounts 201216 k €↓
2011
Annual accounts 201144,8 k €↑
2010
Annual accounts 201042 k €↑
2009
Annual accounts 200913,6 k €↑
2008
Annual accounts 2008-6,3 k €↓
2007
Annual accounts 200719,3 k €↓
2006
Annual accounts 200619,5 k €
25/10/1999
IncorporationPrivate company with limited liability

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

SHELLBERRY

Overview

What does SHELLBERRY do?

Trend over 19 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Similar companies

Similar companies

Timeline