ACTIVE

BDH

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Financial year 2025 · closed on 31/12/2025

Net result

116,2 k €

+267.7% YoY

Gross margin

1,7 M €

+9.3% YoY

Equity

516,8 k €

+14.7% YoY

Workforce

21,1 ETP

-10.6% YoY

What does BDH do?

BDH is a Public limited company incorporated in 2000. Its main activity is: Plumbing, heat and air-conditioning installation. Its registered office is in Manhay. It employs on average 21,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0472.491.651

Incorporation

27/07/2000

Legal form

Public limited company

Registered office

Rue du Châtaignier, Harre 10
6960 Manhay · WallonieSee on map

Contributed capital

71 500,00 €

Latest accounts

31/12/2025

Average workforce

21,1 ETP

Activities (NACE)

43221Plumbing, heat and air-conditioning installation· main 43221Plumbing, heat and air-conditioning installation 43222Plumbing, heat and air-conditioning installation 43222Plumbing, heat and air-conditioning installation 45331Sale of motor vehicle parts and accessories 45332Sale of motor vehicle parts and accessories+9

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	1,7 M €	+9.3%	1,6 M €	+19.4%	1,3 M €	+1.5%	1,3 M €	+39.7%	940,7 k €	+17.2%	802,6 k €	-1.9%	818,3 k €	+10.7%	739,1 k €	+31.1%	563,6 k €	+30.6%	431,7 k €	-28.7%	605,2 k €	+1.7%	595,3 k €	+4.0%	572,3 k €	-13.7%	663,6 k €	+13.0%	587,1 k €	+33.3%	440,5 k €	+7.1%	411,3 k €	+3.7%	396,5 k €	+2.3%	387,5 k €	+27.7%	303,5 k €
EBITDA	267,8 k €	+98.2%	135,1 k €	+89.5%	71,3 k €	-81.2%	378,5 k €	+195%	128,1 k €	+81.3%	70,7 k €	-43.6%	125,3 k €	-11.4%	141,3 k €	+26.3%	111,9 k €	+567%	-24 k €	-131%	77,8 k €	+5.1%	74,1 k €	+23.6%	59,9 k €	+10.2%	54,4 k €	-44.4%	97,8 k €	+50.8%	64,9 k €	+79.5%	36,1 k €	-38.9%	59,1 k €	+8.6%	54,4 k €	+318%	13 k €
Operating result	164,1 k €	+280%	43,1 k €	+78.2%	24,2 k €	-90.8%	264,3 k €	+412%	51,6 k €	+401%	10,3 k €	-85.3%	70,3 k €	-26.1%	95,1 k €	+41.7%	67,1 k €	+195%	-70,8 k €	-357%	27,6 k €	+32.7%	20,8 k €	+278%	5,5 k €	-35.6%	8,5 k €	-69.9%	28,4 k €	-12.8%	32,6 k €	+180%	11,6 k €	+7.3%	10,9 k €	-33.3%	16,3 k €	+170%	-23,2 k €
Net result	116,2 k €	+268%	31,6 k €	+125%	14,1 k €	-92.8%	194,5 k €	+527%	31 k €	+677%	4 k €	-92.0%	49,8 k €	-27.7%	68,9 k €	+21.3%	56,8 k €	+201%	-56,4 k €	-1105%	5,6 k €	-25.7%	7,5 k €	+2820%	258,4 €	-86.2%	1,9 k €	-90.2%	19 k €	-30.5%	27,4 k €	+348%	6,1 k €	+201%	2 k €	-69.3%	6,6 k €	+116%	-42,3 k €
Balance sheet
Equity	516,8 k €	+14.7%	450,6 k €	+0.4%	449 k €	-4.7%	471,1 k €	+70.3%	276,6 k €	+12.6%	245,7 k €	+1.7%	241,7 k €	+26.0%	191,9 k €	+56.0%	123 k €	+85.8%	66,2 k €	-46.0%	122,6 k €	+4.8%	116,9 k €	+6.9%	109,4 k €	+0.2%	109,1 k €	+1.7%	107,3 k €	+21.5%	88,3 k €	+44.9%	60,9 k €	+11.1%	54,8 k €	+3.8%	52,8 k €	+14.3%	46,2 k €
Total assets	1,2 M €	+0.5%	1,2 M €	-10.2%	1,3 M €	+17.5%	1,1 M €	+34.7%	853,2 k €	+11.5%	765,1 k €	+7.8%	710 k €	-7.2%	765 k €	+49.2%	512,9 k €	-0.6%	515,8 k €	+8.1%	477,1 k €	+3.9%	459,3 k €	-19.0%	567,3 k €	+21.9%	465,5 k €	+20.2%	387,2 k €	+27.8%	303 k €	+27.0%	238,5 k €	-21.5%	304 k €	+0.8%	301,7 k €	+29.5%	233 k €
Cash	97,3 k €	-19.4%	120,8 k €	-37.0%	191,8 k €	-21.3%	243,8 k €	+47.3%	165,5 k €	+1332%	11,6 k €	-83.7%	71,1 k €	+40.8%	50,5 k €	+69.6%	29,8 k €	-44.9%	54 k €	+1316%	3,8 k €	-85.8%	26,9 k €	+78.8%	15,1 k €	+113%	7,1 k €	-88.9%	63,6 k €	-12.4%	72,6 k €	+410%	14,2 k €	-22.0%	18,2 k €	+43.8%	12,7 k €	+13.5%	11,2 k €
Debts	697,3 k €	-7.0%	749,9 k €	-16.4%	897 k €	+32.3%	678 k €	+17.6%	576,5 k €	+11.0%	519,4 k €	+10.9%	468,4 k €	-17.9%	570,3 k €	+46.3%	389,9 k €	-13.3%	449,6 k €	+27.2%	353,4 k €	+3.2%	342,4 k €	-25.2%	457,9 k €	+28.5%	356,4 k €	+27.3%	279,9 k €	+30.3%	214,8 k €	+20.9%	177,6 k €	-28.5%	248,4 k €	-0.2%	248,9 k €	+33.2%	186,9 k €
Other
Workforce	21,1 ETP	-10.6%	23,6 ETP	+17.4%	20,1 ETP	+23.3%	16,3 ETP	-6.9%	17,5 ETP	+7.4%	16,3 ETP	+26.4%	12,9 ETP	+4.0%	12,4 ETP	+4.2%	11,9 ETP	-4.0%	12,4 ETP	-13.3%	14,3 ETP	-4.7%	15,0 ETP	+8.7%	13,8 ETP	-12.7%	15,8 ETP	+22.5%	12,9 ETP	+30.3%	9,9 ETP	+6.5%	9,3 ETP	-8.8%	10,2 ETP	+3.0%	9,9 ETP	+6.5%	9,3 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 · 15 ended

Active mandates

Vinciane BODSON

Director · since 20 novembre 2023 · until 20 novembre 2029

Active

Barthélemy DEMOITIE

Director · since 26 octobre 2023 · until 26 octobre 2029

Active

Ended mandates

Barthélemy DEMOITIE

Director · since 17 décembre 2013

Ended

Barthélemy DEMOITIE

Managing director · since 17 décembre 2013 · until 17 juin 2019

Ended

Barthélemy DEMOITIE

Managing director · since 17 décembre 2013 · until 30 juin 2019

Ended

Vinciane BODSON

Director · since 17 décembre 2013 · until 17 juin 2019

Ended

At this address

Other companies at this address

Company	CBE no.
"Bureau d'Etudes HVSS"● Active	0448.569.768

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	03/07/2026	17/06/2025	10/07/2024	19/07/2023	25/08/2022	06/08/2021
General meeting	15/06/2026	16/05/2025	30/06/2024	30/06/2023	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	15/06/2026	03/07/2026	French	PDF
Abridged model	31/12/2024	16/05/2025	17/06/2025	French	PDF
Abridged model	31/12/2023	30/06/2024	10/07/2024	French	PDF
Abridged model	31/12/2022	30/06/2023	19/07/2023	French	PDF
Abridged model	31/12/2021	17/06/2022	25/08/2022	French	PDF
Abridged model	31/12/2020	18/06/2021	06/08/2021	French	PDF
Abridged model	31/12/2019	19/06/2020	13/08/2020	French	PDF
Abridged model	31/12/2018	21/06/2019	20/08/2019	French	PDF
Abridged model	31/12/2017	15/06/2018	23/08/2018	French	PDF
Abridged model	31/12/2016	16/06/2017	22/08/2017	French	PDF
Abridged model	31/12/2015	17/06/2016	01/07/2016	French	PDF
Abridged model	31/12/2014	19/06/2015	12/08/2015	French	PDF
Abridged model	31/12/2013	20/06/2014	14/08/2014	French	PDF
Abridged model	31/12/2012	01/06/2013	28/08/2013	French	PDF
Abridged model	31/12/2011	01/06/2012	28/08/2012	French	PDF
Abridged model	31/12/2010	03/06/2011	26/08/2011	French	PDF
Abridged model	31/12/2009	18/06/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	19/06/2009	08/07/2009	French	PDF
Abridged model	31/12/2007	27/06/2008	04/07/2008	French	PDF
Abridged model	31/12/2006	29/06/2007	20/07/2007	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 · 2 active · 15 ended

Active mandates

Vinciane BODSON

Director · since 20 novembre 2023 · until 20 novembre 2029

Active

Barthélemy DEMOITIE

Director · since 26 octobre 2023 · until 26 octobre 2029

Active

Ended mandates

Barthélemy DEMOITIE

Director · since 17 décembre 2013

Ended

Barthélemy DEMOITIE

Managing director · since 17 décembre 2013 · until 17 juin 2019

Ended

Barthélemy DEMOITIE

Managing director · since 17 décembre 2013 · until 30 juin 2019

Ended

Vinciane BODSON

Director · since 17 décembre 2013 · until 17 juin 2019

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/12/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates10/11/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates03/01/2014
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 2025116,2 k €↑
2024
Annual accounts 202431,6 k €↑
2023
Annual accounts 202314,1 k €↓
2022
Annual accounts 2022194,5 k €↑
2021
Annual accounts 202131 k €↑
2021
Name changeB.D.H.
2020
Annual accounts 20204 k €↓
2019
Annual accounts 201949,8 k €↓
2018
Annual accounts 201868,9 k €↑
2017
Annual accounts 201756,8 k €↑
2016
Annual accounts 2016-56,4 k €↓
2015
Annual accounts 20155,6 k €↓
2014
Annual accounts 20147,5 k €↑
2013
Annual accounts 2013258,4 €↓
2012
Annual accounts 20121,9 k €↓
2011
Annual accounts 201119 k €↓
2010
Annual accounts 201027,4 k €↑
2009
Annual accounts 20096,1 k €↑
2008
Annual accounts 20082 k €↓
2007
Annual accounts 20076,6 k €↑
2006
Annual accounts 2006-42,3 k €
2006
Name changeBDH
27/07/2000
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

BDH

Overview

What does BDH 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