ACTIVE

FEMA

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Financial year 2025 · closed on 31/12/2025

Net result

49,4 k €

+35.2% YoY

Gross margin

81,7 k €

-11.6% YoY

Equity

504,4 k €

+10.9% YoY

What does FEMA do?

FEMA is a Private limited company incorporated in 1999. Its main activity is: Wholesale of meat and meat products. Its registered office is in Ath.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0467.270.675

Incorporation

15/11/1999

Legal form

Private limited company

Registered office

Chemin d'Oeudeghien(Mai) 73
7812 Ath · WallonieSee on map

Contributed capital

71 786,79 €

Latest accounts

31/12/2025

Activities (NACE)

46321Wholesale of meat and meat products· main 46321Wholesale of meat and meat products 51321Air transport

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	81,7 k €	-11.6%	92,4 k €	-36.5%	145,6 k €	+11.0%	131,1 k €	+77.0%	74,1 k €	-7.8%	80,4 k €	-22.8%	104,1 k €	+4.7%	99,4 k €	-20.7%	125,4 k €	+24.0%	101,1 k €	+49.5%	67,6 k €	-37.3%	107,8 k €	+303%	26,8 k €	-66.2%	79,1 k €	-16.8%	95 k €	-2.2%	97,2 k €	+10.6%	87,9 k €	+36.4%	64,4 k €	+6.6%	60,4 k €	-1.4%	61,2 k €
EBITDA	80,3 k €	+26.2%	63,6 k €	-45.3%	116,2 k €	+10.1%	105,6 k €	+118%	48,4 k €	+3.0%	47 k €	-21.1%	59,5 k €	+7.2%	55,5 k €	-35.7%	86,3 k €	+44.4%	59,7 k €	+127%	26,4 k €	-59.4%	65 k €	+529%	-15,2 k €	-140%	37,7 k €	-35.0%	58 k €	-4.1%	60,5 k €	+18.0%	51,3 k €	-4.5%	53,7 k €	-6.1%	57,2 k €	+21.3%	47,2 k €
Operating result	69,5 k €	+32.5%	52,5 k €	-50.1%	105,2 k €	+11.0%	94,8 k €	+152%	37,6 k €	+97.8%	19 k €	-61.0%	48,7 k €	+8.9%	44,7 k €	-41.0%	75,8 k €	+53.9%	49,3 k €	+210%	15,9 k €	-71.2%	55,3 k €	+320%	-25,1 k €	-388%	8,7 k €	-69.2%	28,3 k €	-20.6%	35,6 k €	+150%	-70,9 k €	-313%	33,3 k €	-11.7%	37,7 k €	+1.4%	37,2 k €
Net result	49,4 k €	+35.2%	36,6 k €	-51.1%	74,7 k €	+10.2%	67,8 k €	+166%	25,5 k €	+119%	11,6 k €	-64.2%	32,5 k €	+13.1%	28,8 k €	-43.2%	50,6 k €	+42.6%	35,5 k €	+535%	5,6 k €	-88.2%	47,4 k €	+234%	-35,3 k €	-1114%	-2,9 k €	-116%	17,7 k €	-33.1%	26,4 k €	+130%	-88,4 k €	-815%	12,4 k €	-42.4%	21,5 k €	-13.3%	24,8 k €
Balance sheet
Equity	504,4 k €	+10.9%	454,9 k €	+8.7%	418,4 k €	+21.7%	343,7 k €	+24.6%	275,9 k €	+10.2%	250,4 k €	+4.9%	238,8 k €	+15.8%	206,3 k €	+16.2%	177,5 k €	+39.9%	126,9 k €	+38.9%	91,4 k €	+6.5%	85,8 k €	+425%	-26,4 k €	-133%	80,9 k €	-3.5%	83,8 k €	+26.7%	66,1 k €	+66.6%	39,7 k €	-69.0%	128,1 k €	+10.7%	115,7 k €	+22.8%	94,3 k €
Total assets	526,1 k €	+10.1%	477,7 k €	+5.5%	452,7 k €	+20.4%	376,2 k €	+15.3%	326,2 k €	+4.4%	312,5 k €	+0.7%	310,5 k €	-2.4%	318,1 k €	-4.0%	331,4 k €	+4.7%	316,4 k €	-1.5%	321,3 k €	-11.2%	362 k €	+5.4%	343,5 k €	-10.4%	383,3 k €	-7.9%	416,3 k €	-3.4%	431 k €	-1.7%	438,5 k €	+11.9%	391,9 k €	+18.6%	330,3 k €	+150%	132,3 k €
Cash	256,6 k €	+29.9%	197,5 k €	+14.1%	173 k €	+48.7%	116,3 k €	+55.9%	74,6 k €	+28.0%	58,3 k €	+81.4%	32,1 k €	-18.4%	39,4 k €	-16.1%	46,9 k €	+165%	17,7 k €	+113%	8,3 k €	-52.8%	17,6 k €	+0.5%	17,5 k €	+79.7%	9,7 k €	-75.4%	39,6 k €	-28.4%	55,3 k €	+0.0%	55,3 k €	-22.0%	70,8 k €	+57.6%	44,9 k €	+124%	20,1 k €
Debts	20,9 k €	+1.3%	20,7 k €	-31.7%	30,2 k €	-5.6%	32 k €	-35.7%	49,8 k €	-19.6%	62 k €	-11.7%	70,1 k €	-36.4%	110,3 k €	-27.6%	152,3 k €	-19.6%	189,5 k €	-17.6%	229,9 k €	-16.8%	276,2 k €	-25.3%	369,9 k €	+22.3%	302,4 k €	-9.1%	332,5 k €	-8.9%	364,8 k €	-8.5%	398,9 k €	+51.2%	263,8 k €	+22.9%	214,6 k €	+464%	38,1 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	+233%	0,3 ETP		–		0,6 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 · 1 active · 2 ended

Active mandates

Pascal Dehertog

Director

Active

Ended mandates

Edouard Dehertog

Associate

Ended

Pascal Dehertog

Manager

Ended

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	07/07/2026	05/06/2025	18/06/2024	22/06/2023	04/07/2022	22/07/2021
General meeting	11/06/2026	19/05/2025	13/06/2024	08/06/2023	09/06/2022	25/06/2021
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
Micro model	31/12/2025	11/06/2026	07/07/2026	French	PDF
Micro model	31/12/2024	19/05/2025	05/06/2025	French	PDF
Micro model	31/12/2023	13/06/2024	18/06/2024	French	PDF
Micro model	31/12/2022	08/06/2023	22/06/2023	French	PDF
Micro model	31/12/2021	09/06/2022	04/07/2022	French	PDF
Micro model	31/12/2020	25/06/2021	22/07/2021	French	PDF
Micro model	31/12/2019	11/06/2020	31/07/2020	French	PDF
Micro model	31/12/2018	15/05/2019	06/06/2019	French	PDF
Micro model	31/12/2017	14/06/2018	28/06/2018	French	PDF
Micro model	31/12/2016	08/06/2017	21/06/2017	Dutch	PDF
Abridged model	31/12/2015	24/02/2016	12/05/2016	French	PDF
Abridged model	31/12/2014	11/06/2015	09/07/2015	French	PDF
Abridged model	31/12/2013	12/06/2014	23/06/2014	Dutch	PDF
Abridged model	31/12/2012	13/06/2013	08/07/2013	Dutch	PDF
Abridged model	31/12/2011	29/06/2012	31/08/2012	Dutch	PDF
Abridged model	31/12/2010	09/06/2011	10/06/2011	Dutch	PDF
Abridged model	31/12/2009	28/07/2010	13/08/2010	Dutch	PDF
Abridged model	31/12/2008	28/07/2009	25/08/2009	Dutch	PDF
Abridged model	31/12/2007	31/07/2008	28/08/2008	Dutch	PDF
Abridged model	31/12/2006	10/07/2007	24/08/2007	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 · 1 active · 2 ended

Active mandates

Pascal Dehertog

Director

Active

Ended mandates

Edouard Dehertog

Associate

Ended

Pascal Dehertog

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other27/08/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Capital / shares27/02/2014
KAPITAAL - AANDELEN
PDF
Registered office17/04/2012
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 202549,4 k €↑
2024
Annual accounts 202436,6 k €↓
2023
Annual accounts 202374,7 k €↑
2022
Annual accounts 202267,8 k €↑
2021
Annual accounts 202125,5 k €↑
2020
Annual accounts 202011,6 k €↓
2019
Annual accounts 201932,5 k €↑
2018
Annual accounts 201828,8 k €↓
2017
Annual accounts 201750,6 k €↑
2016
Annual accounts 201635,5 k €↑
2015
Annual accounts 20155,6 k €↓
2014
Annual accounts 201447,4 k €↑
2013
Annual accounts 2013-35,3 k €↓
2012
Annual accounts 2012-2,9 k €↓
2011
Annual accounts 201117,7 k €↓
2010
Annual accounts 201026,4 k €↑
2009
Annual accounts 2009-88,4 k €↓
2008
Annual accounts 200812,4 k €↓
2007
Annual accounts 200721,5 k €↓
2006
Annual accounts 200624,8 k €
15/11/1999
IncorporationPrivate 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

FEMA

Overview

What does FEMA do?

Trend over 20 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

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline