ACTIVE

A & S DISTRIBUTION

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Financial year 2025 · closed on 31/08/2025

Net result

-36,5 k €

-109.8% YoY

Gross margin

562,3 k €

+2.1% YoY

Equity

575,7 k €

+112.3% YoY

What does A & S DISTRIBUTION do?

A & S DISTRIBUTION is a Public limited company incorporated in 2001. Its main activity is: Management consultancy activities. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0473.945.166

Incorporation

29/01/2001

Legal form

Public limited company

Registered office

Place du Samedi 1
1000 Bruxelles · BruxellesSee on map

Contributed capital

125 000,00 €

Latest accounts

31/08/2025

Activities (NACE)

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

Joint committees (2)

Signals

Solid equityLow riskGood liquidityPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	562,3 k €	+2.1%	550,5 k €	+5.6%	521,1 k €	-47.9%	1 M €	+72.9%	578,5 k €	+35.4%	427,2 k €	-14.6%	500,1 k €	-0.1%	500,6 k €	+0.3%	498,9 k €	+1.3%	492,5 k €	+10.7%	444,8 k €	+6.2%	418,9 k €	-14.5%	489,7 k €	-16.8%	588,3 k €	+7.3%	548,1 k €	-2.1%	559,7 k €	+0.9%	554,8 k €	+1.2%	548,1 k €	+33.5%	410,6 k €
EBITDA	556,1 k €	+1.8%	546,1 k €	+5.6%	517,2 k €	-48.2%	998,4 k €	+75.0%	570,5 k €	+35.7%	420,3 k €	-15.6%	498,2 k €	-0.3%	499,6 k €	+0.9%	495,1 k €	+3.5%	478,3 k €	+12.5%	425,3 k €	+3.3%	411,8 k €	-13.8%	477,5 k €	+41.6%	337,1 k €	-7.0%	362,6 k €	-13.2%	417,7 k €	-12.8%	479,2 k €	+0.5%	477 k €	+45.8%	327,1 k €
Operating result	526,5 k €	+0.6%	523,3 k €	+4.4%	501,4 k €	-49.2%	987,1 k €	+74.3%	566,2 k €	+36.0%	416,2 k €	-15.4%	492,2 k €	-0.3%	493,7 k €	+0.9%	489,1 k €	+5.4%	464 k €	+11.9%	414,6 k €	+6.9%	387,7 k €	-13.3%	447 k €	+46.3%	305,6 k €	-7.4%	329,9 k €	-12.6%	377,4 k €	-8.4%	412,1 k €	-0.5%	414,4 k €	+80.2%	229,9 k €
Net result	-36,5 k €	-110%	373,7 k €	+1.9%	366,9 k €	-48.8%	715,9 k €	+75.4%	408,3 k €	+44.8%	281,9 k €	-14.1%	328,2 k €	+1.8%	322,3 k €	+1.5%	317,6 k €	+4.0%	305,2 k €	+4.5%	292,1 k €	+5.3%	277,3 k €	-7.0%	298,1 k €	+53.2%	194,5 k €	-8.0%	211,4 k €	-9.2%	232,8 k €	-7.5%	251,7 k €	-0.6%	253,3 k €	+115%	118 k €
Balance sheet
Equity	575,7 k €	+112%	271,2 k €	-45.5%	497,5 k €	+46.1%	340,6 k €	+51.6%	224,7 k €	+35.0%	166,4 k €	+1.2%	164,5 k €	+12.5%	146,3 k €	+1.6%	143,9 k €	+0.4%	143,4 k €	+0.2%	143,2 k €	-74.0%	551 k €	+101%	273,7 k €	+97.4%	138,6 k €	+0.4%	138,1 k €	+0.3%	137,6 k €	-0.2%	137,9 k €	-65.9%	404,2 k €	+168%	150,9 k €
Total assets	700,8 k €	-27.9%	972,1 k €	+27.3%	763,7 k €	-27.4%	1,1 M €	+59.6%	659,3 k €	+16.7%	564,9 k €	-13.0%	649,6 k €	-18.2%	794,5 k €	+21.3%	654,9 k €	+0.1%	654,1 k €	-38.4%	1,1 M €	+36.8%	776,6 k €	+2.6%	756,7 k €	+103%	372,5 k €	-12.7%	426,9 k €	+28.9%	331,1 k €	-39.6%	547,9 k €	+0.9%	543,1 k €	-10.3%	605,5 k €
Cash	525,4 k €	+0.5%	523 k €	-15.8%	621,6 k €	-24.6%	824,3 k €	+55.2%	531 k €	+293%	135 k €	+95.4%	69,1 k €	-80.1%	346,7 k €	+50.2%	230,9 k €	-12.2%	263 k €	+10.2%	238,7 k €	+795%	26,7 k €	-20.0%	33,4 k €	+4.0%	32,1 k €	-86.3%	234,8 k €	+348%	52,4 k €	-9.1%	57,6 k €	-74.1%	222 k €	+1004%	20,1 k €
Debts	125 k €	-82.2%	700,8 k €	+163%	266,2 k €	-62.6%	711,8 k €	+63.8%	434,6 k €	+9.1%	398,5 k €	-17.7%	484,3 k €	-24.8%	644,5 k €	+26.1%	511 k €	+0.0%	510,8 k €	-44.5%	919,5 k €	+308%	225,6 k €	-53.3%	483,1 k €	+107%	233,9 k €	-19.0%	288,8 k €	+49.3%	193,4 k €	-52.8%	410 k €	+195%	139 k €	-69.4%	454,6 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		2,0 ETP	0.0%	2,0 ETP	+53.8%	1,3 ETP	+30.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/08/2025 · 3 active · 28 ended

Active mandates

Jacques APPELSTEIN

Managing director · since 19 février 2024 · until 18 février 2030

Active

Stephan JEGER

Managing director · since 19 février 2024 · until 18 février 2030

Active

Dan APPELSTEIN

Director · since 15 février 2022 · until 15 février 2028

Active

Ended mandates

Stephan JEGER

Director · since 23 janvier 2020

Ended

Henri APPELSTEIN

Managing director · since 20 février 2018 · until 15 février 2022

Ended

Henri APPELSTEIN

Managing director · since 20 février 2018 · until 20 février 2024

Ended

Jacques APPELSTEIN

Managing director · since 20 février 2018 · until 18 février 2024

Ended

At this address

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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	01/09/2024	01/09/2023	01/09/2022	01/09/2021	01/09/2020	01/09/2019
Closing of the financial year	31/08/2025	31/08/2024	31/08/2023	31/08/2022	31/08/2021	31/08/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	17/07/2026	13/03/2025	26/02/2024	24/02/2023	03/03/2022	22/02/2021
General meeting	17/02/2026	18/02/2025	20/02/2024	21/02/2023	15/02/2022	16/02/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/08/2025	17/02/2026	17/07/2026	French	PDF
Abridged model	31/08/2024	18/02/2025	13/03/2025	French	PDF
Abridged model	31/08/2023	20/02/2024	26/02/2024	French	PDF
Abridged model	31/08/2022	21/02/2023	24/02/2023	French	PDF
Abridged model	31/08/2021	15/02/2022	03/03/2022	French	PDF
Abridged model	31/08/2020	16/02/2021	22/02/2021	French	PDF
Abridged model	31/08/2019	18/02/2020	26/02/2020	French	PDF
Abridged model	31/08/2018	19/02/2019	27/02/2019	French	PDF
Abridged model	31/08/2017	20/02/2018	26/02/2018	French	PDF
Abridged model	31/08/2016	23/12/2016	24/02/2017	French	PDF
Abridged model	31/08/2015	22/12/2015	02/02/2016	French	PDF
Abridged model	31/08/2014	17/02/2015	25/03/2015	French	PDF
Abridged model	31/08/2013	18/02/2014	28/03/2014	French	PDF
Abridged model	31/08/2012	20/12/2012	30/09/2013	French	PDF
Abridged model	31/08/2011	21/02/2012	30/03/2012	French	PDF
Abridged model	31/08/2010	15/02/2011	25/02/2011	French	PDF
Abridged model	31/08/2009	16/02/2010	29/03/2010	French	PDF
Abridged model	31/08/2008	17/02/2009	27/03/2009	French	PDF
Abridged modelCorrection	31/08/2007	19/02/2008	19/03/2008	French	PDF
Abridged model	31/08/2007	19/02/2008	07/03/2008	French	PDF
Abridged model	31/08/2006	20/02/2007	30/03/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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 31/08/2025 · 3 active · 28 ended

Active mandates

Jacques APPELSTEIN

Managing director · since 19 février 2024 · until 18 février 2030

Active

Stephan JEGER

Managing director · since 19 février 2024 · until 18 février 2030

Active

Dan APPELSTEIN

Director · since 15 février 2022 · until 15 février 2028

Active

Ended mandates

Stephan JEGER

Director · since 23 janvier 2020

Ended

Henri APPELSTEIN

Managing director · since 20 février 2018 · until 15 février 2022

Ended

Henri APPELSTEIN

Managing director · since 20 février 2018 · until 20 février 2024

Ended

Jacques APPELSTEIN

Managing director · since 20 février 2018 · until 18 février 2024

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other19/02/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office09/01/2023
SIEGE SOCIAL
PDF
Mandates29/04/2022
DEMISSIONS, NOMINATIONS
PDF
Registered office21/08/2018
SIEGE SOCIAL
PDF
Mandates12/04/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates02/07/2014
DEMISSIONS, NOMINATIONS
PDF
Registered office25/10/2012
SIEGE SOCIAL
PDF
Registered office20/04/2009
SIEGE SOCIAL
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 2025-36,5 k €↓
2024
Annual accounts 2024373,7 k €↑
2023
Annual accounts 2023366,9 k €↓
2022
Annual accounts 2022715,9 k €↑
2021
Annual accounts 2021408,3 k €↑
2020
Annual accounts 2020281,9 k €↓
2019
Annual accounts 2019328,2 k €↑
2018
Annual accounts 2018322,3 k €↑
2017
Annual accounts 2017317,6 k €↑
2016
Annual accounts 2016305,2 k €↑
2015
Annual accounts 2015292,1 k €↑
2014
Annual accounts 2014277,3 k €↓
2013
Annual accounts 2013298,1 k €↑
2012
Annual accounts 2012194,5 k €↓
2011
Annual accounts 2011211,4 k €↓
2010
Annual accounts 2010232,8 k €↓
2009
Annual accounts 2009251,7 k €↓
2008
Annual accounts 2008253,3 k €↑
2007
Annual accounts 2007118 k €
29/01/2001
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

A & S DISTRIBUTION

Overview

What does A & S DISTRIBUTION do?

Trend over 19 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