ACTIVE

UNDERSIDE

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Financial year 2025 · closed on 31/12/2025

Net result

74 k €

+115.3% YoY

Gross margin

697,3 k €

+60.7% YoY

Equity

403,6 k €

+22.5% YoY

Workforce

6,7 ETP

-28.0% YoY

What does UNDERSIDE do?

UNDERSIDE is a Private limited company incorporated in 2000. Its main activity is: Computer programming activities. Its registered office is in Charleroi. It employs on average 6,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0471.729.212

Incorporation

18/04/2000

Legal form

Private limited company

Registered office

Avenue Georges Lemaitre 5
6041 Charleroi · WallonieSee on map

Contributed capital

301 150,00 €

Latest accounts

31/12/2025

Average workforce

6,7 ETP

Activities (NACE)

62010Computer programming activities· main 62020Computer consultancy activities 62100Computer programming, consultancy and related activities 62200Computer programming, consultancy and related activities 72100Research and experimental development on natural sciences and engineering 72220Research and experimental development on social sciences and humanities+9

Joint committees (3)

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 12 financial years

	2025		2024		2023		2022		2021		2020		2018		2010		2009		2008		2007		2006
Income statement
Gross margin	697,3 k €	+60.7%	433,9 k €	-54.4%	951,5 k €	-32.3%	1,4 M €	+4.4%	1,3 M €	+18.5%	1,1 M €	-30.5%	1,6 M €	+581%	240 k €	+2.5%	234,2 k €	+36.4%	171,7 k €	+31.8%	130,3 k €	+197%	43,9 k €
EBITDA	264,9 k €	+634%	-49,6 k €	-127%	186 k €	-29.1%	262,4 k €	-9.6%	290,1 k €	+123%	130,1 k €	-61.0%	333,4 k €	+671%	43,2 k €	+12.0%	38,6 k €	+8.2%	35,7 k €	-16.6%	42,8 k €	+5044%	832 €
Operating result	89,3 k €	+140%	-225,6 k €	-637%	42 k €	-62.9%	113,3 k €	-10.4%	126,5 k €	+430%	-38,4 k €	-120%	190,4 k €	+1160%	15,1 k €	+138%	6,4 k €	-48.8%	12,4 k €	-67.9%	38,7 k €	+888%	-4,9 k €
Net result	74 k €	+115%	-483 k €	-1569%	-28,9 k €	-147%	61,1 k €	-26.9%	83,5 k €	+280%	-46,3 k €	-149%	94,9 k €	+1539%	5,8 k €	+310%	1,4 k €	-87.5%	11,3 k €	-66.8%	34,1 k €	+926%	-4,1 k €
Balance sheet
Equity	403,6 k €	+22.5%	329,6 k €	-60.1%	826,1 k €	-4.9%	868,5 k €	+5.8%	820,9 k €	+9.3%	750,9 k €	+22.8%	611,5 k €	+616%	85,4 k €	+7.3%	79,6 k €	+1.8%	78,2 k €	+101%	39 k €	+690%	4,9 k €
Total assets	1,7 M €	+12.7%	1,5 M €	-34.1%	2,2 M €	+3.4%	2,2 M €	+7.4%	2 M €	+2.8%	2 M €	+2.1%	1,9 M €	+503%	317,9 k €	+4.1%	305,3 k €	-10.8%	342,2 k €	+168%	127,5 k €	+101%	63,5 k €
Cash	501,6 k €	+115%	233 k €	-38.6%	379,4 k €	-26.5%	516,5 k €		–		462,2 k €	+139%	193,2 k €	+254%	54,5 k €	-45.0%	99,1 k €	-17.8%	120,6 k €	+62.2%	74,4 k €	+1004%	6,7 k €
Debts	1,2 M €	+8.5%	1,1 M €	-18.7%	1,4 M €	+9.3%	1,3 M €	+8.8%	1,2 M €	-0.9%	1,2 M €	-6.5%	1,3 M €	+479%	220,5 k €	-2.3%	225,6 k €	-14.5%	264 k €	+198%	88,5 k €	+51.0%	58,6 k €
Other
Workforce	6,7 ETP	-28.0%	9,3 ETP	-39.2%	15,3 ETP	-26.4%	20,8 ETP	-0.5%	20,9 ETP	-4.1%	21,8 ETP	-19.6%	27,1 ETP	+367%	5,8 ETP	+23.4%	4,7 ETP	0.0%	4,7 ETP	+42.4%	3,3 ETP	+83.3%	1,8 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 · 5 active · 5 ended

Active mandates

Christophe Degraeve

Administrateur Statutaire · since 14 janvier 2020

Active

Hélène Dassy

Director · since 14 janvier 2020

Active

Jean-Michel Block

Director · since 14 janvier 2020

Active

Maxence Schoonians

Director · since 14 janvier 2020

Active

Olivier Pirson

Director · since 14 janvier 2020

Active

Ended mandates

Christophe Degraeve

Director · since 29 avril 2000

Ended

Christophe Degraeve

Manager · since 03 mars 2000

Ended

Christophe Degraeve

Director

Ended

Christophe Degraeve

Managing director

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	23/07/2026	29/07/2025	30/08/2024	29/06/2023	28/11/2022	04/11/2021
General meeting	30/06/2026	20/06/2025	21/06/2024	16/06/2023	17/06/2022	18/06/2021
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	30/06/2026	23/07/2026	French	PDF
Abridged model	31/12/2024	20/06/2025	29/07/2025	French	PDF
Abridged model	31/12/2023	21/06/2024	30/08/2024	French	PDF
Abridged model	31/12/2022	16/06/2023	29/06/2023	French	PDF
Abridged model	31/12/2021	17/06/2022	28/11/2022	French	PDF
Abridged model	31/12/2020	18/06/2021	04/11/2021	French	PDF
Abridged model	31/12/2019	19/06/2020	31/08/2020	French	PDF
Abridged model	31/12/2018	21/06/2019	30/08/2019	French	PDF
Abridged model	31/12/2017	15/06/2018	17/09/2018	French	PDF
Abridged model	31/12/2016	16/06/2017	29/09/2017	French	PDF
Abridged model	31/12/2015	15/04/2016	12/07/2016	French	PDF
Abridged model	31/12/2014	17/08/2015	20/08/2015	French	PDF
Abridged model	31/12/2013	20/06/2014	19/08/2014	French	PDF
Abridged model	31/12/2012	21/06/2013	25/06/2013	French	PDF
Abridged model	31/12/2011	15/06/2012	19/06/2012	French	PDF
Abridged model	31/12/2010	17/06/2011	21/06/2011	French	PDF
Abridged model	31/12/2009	18/06/2010	09/08/2010	French	PDF
Abridged model	31/12/2008	19/06/2009	22/06/2009	French	PDF
Abridged model	31/12/2007	20/06/2008	29/07/2008	French	PDF
Abridged model	31/12/2006	15/06/2007	30/08/2007	French	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 · 5 active · 5 ended

Active mandates

Christophe Degraeve

Administrateur Statutaire · since 14 janvier 2020

Active

Hélène Dassy

Director · since 14 janvier 2020

Active

Jean-Michel Block

Director · since 14 janvier 2020

Active

Maxence Schoonians

Director · since 14 janvier 2020

Active

Olivier Pirson

Director · since 14 janvier 2020

Active

Ended mandates

Christophe Degraeve

Director · since 29 avril 2000

Ended

Christophe Degraeve

Manager · since 03 mars 2000

Ended

Christophe Degraeve

Director

Ended

Christophe Degraeve

Managing director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates31/01/2020
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Registered office03/02/2017
SIEGE SOCIAL
PDF
Capital / shares07/01/2009
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office27/12/2006
SIEGE SOCIAL
PDF
Mandates17/02/2006
DEMISSIONS, NOMINATIONS
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 202574 k €↑
2024
Annual accounts 2024-483 k €↓
2023
Annual accounts 2023-28,9 k €↓
2022
Annual accounts 202261,1 k €↓
2021
Annual accounts 202183,5 k €↑
2020
Annual accounts 2020-46,3 k €↓
2018
Annual accounts 201894,9 k €↑
2010
Annual accounts 20105,8 k €↑
2009
Annual accounts 20091,4 k €↓
2008
Annual accounts 200811,3 k €↓
2007
Annual accounts 200734,1 k €↑
2006
Annual accounts 2006-4,1 k €
18/04/2000
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

UNDERSIDE

Overview

What does UNDERSIDE do?

Trend over 12 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