ACTIVE

ZEEMST

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Financial year 2025 · closed on 31/12/2025

Net result

438,7 k €

+49.8% YoY

Gross margin

-8,3 k €

-21.1% YoY

Equity

18,3 M €

+2.5% YoY

Workforce

0,0 ETP

What does ZEEMST do?

ZEEMST is a Public limited company incorporated in 2001. Its registered office is in Etterbeek.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0474.732.549

Incorporation

04/05/2001

Legal form

Public limited company

Registered office

Boulevard Saint-Michel 125
1040 Etterbeek · BruxellesSee on map

Contributed capital

15 065 000,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

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		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-8,3 k €	-21.1%	-6,8 k €	-7.3%	-6,4 k €	-13.2%	-5,6 k €	+6.8%	-6 k €	+3.4%	-6,2 k €	-20.1%	-5,2 k €	+9.7%	-5,8 k €	-5.8%	-5,4 k €	-2.2%	-5,3 k €	-0.0%	-5,3 k €	-2.9%	-5,2 k €	+55.7%	-11,7 k €	-118%	-5,4 k €	+36.3%	-8,4 k €	+0.8%	-8,5 k €	-65.2%	-5,1 k €	+1.9%	-5,2 k €	-10.4%	-4,7 k €
EBITDA	-9,3 k €	-18.8%	-7,8 k €	-6.4%	-7,3 k €	-12.9%	-6,5 k €	+6.0%	-6,9 k €	+3.3%	-7,1 k €	-17.1%	-6,1 k €	+41.9%	-10,5 k €	-66.1%	-6,3 k €	-0.5%	-6,3 k €	-0.0%	-6,3 k €	-2.5%	-6,1 k €	+51.5%	-12,6 k €	-101%	-6,3 k €	+28.9%	-8,9 k €	+5.9%	-9,4 k €	-55.1%	-6,1 k €	+1.6%	-6,2 k €	-7.0%	-5,8 k €
Operating result	-9,3 k €	-18.8%	-7,8 k €	-6.4%	-7,3 k €	-12.9%	-6,5 k €	+6.0%	-6,9 k €	+3.3%	-7,1 k €	-17.1%	-6,1 k €	+41.9%	-10,5 k €	-66.1%	-6,3 k €	-0.5%	-6,3 k €	-0.0%	-6,3 k €	-2.5%	-6,1 k €	+51.5%	-12,6 k €	-101%	-6,3 k €	+28.9%	-8,9 k €	+5.9%	-9,4 k €	-55.1%	-6,1 k €	+1.6%	-6,2 k €	-7.0%	-5,8 k €
Net result	438,7 k €	+49.8%	292,8 k €	-16.1%	349,2 k €	-0.1%	349,7 k €	+23.2%	283,8 k €	+5.4%	269,3 k €	+276%	71,7 k €	-81.4%	385,5 k €	-30.4%	554,2 k €	+74.1%	318,3 k €	-44.4%	572,9 k €	+10.5%	518,6 k €	-24.2%	684,2 k €	+161%	262,4 k €	-47.8%	502,4 k €	+215%	159,7 k €	+129%	-550,8 k €	-74.3%	-316 k €	-11448%	-2,7 k €
Balance sheet
Equity	18,3 M €	+2.5%	17,8 M €	+1.7%	17,5 M €	+2.0%	17,2 M €	-13.4%	19,8 M €	+3.0%	19,3 M €	+1.4%	19 M €	+0.4%	18,9 M €	+2.1%	18,5 M €	+3.1%	18 M €	+1.8%	17,7 M €	+3.4%	17,1 M €	+3.1%	16,6 M €	+182%	5,9 M €	-0.6%	5,9 M €	+59.3%	3,7 M €	+860%	386,6 k €	-58.8%	937,4 k €	-25.2%	1,3 M €
Total assets	18,3 M €	+2.5%	17,9 M €	+1.7%	17,6 M €	-13.6%	20,3 M €	+1.6%	20 M €	+2.9%	19,4 M €	+1.3%	19,2 M €	+0.6%	19,1 M €	+2.1%	18,7 M €	+3.9%	18 M €	+1.8%	17,7 M €	+3.4%	17,1 M €	+2.6%	16,7 M €	+168%	6,2 M €	+5.1%	5,9 M €	+59.5%	3,7 M €	+859%	387,2 k €	-58.7%	937,5 k €	-25.4%	1,3 M €
Cash	39,8 k €	-58.1%	94,9 k €	+423%	18,1 k €	-82.3%	102,4 k €	-98.1%	5,5 M €	+93.2%	2,8 M €	+137%	1,2 M €	+54.5%	778 k €	-56.3%	1,8 M €	+324%	419,7 k €	-56.9%	973,6 k €	+17931%	5,4 k €	+169%	2 k €	-83.3%	12 k €	+50.9%	8 k €	-37.3%	12,7 k €	-96.1%	328,7 k €	+10.6%	297,2 k €	+10.8%	268,3 k €
Debts	30,8 k €	+10.3%	27,9 k €	+9.8%	25,4 k €	-99.2%	3,1 M €	+1686%	176 k €	-6.3%	187,8 k €	-9.4%	207,4 k €	+37.5%	150,8 k €	+55.6%	97 k €	+731%	11,7 k €	-19.6%	14,5 k €	-0.8%	14,6 k €	-84.2%	92,8 k €	-73.2%	346,6 k €	+4343%	7,8 k €	+5498%	139,3 €	-1.0%	140,8 €		–		2,9 k €
Other
Workforce	0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 12 ended

Active mandates

ANVILLE PARTICIPATION SA

Director · since 19 juin 2025 · until 19 juin 2031

Represented by Joseph ASSELIN

Active

DG CONSEIL

Director · since 19 juin 2025 · until 19 juin 2031 · 0428.909.848

Represented by Serge DECLERCK

Active

Georges TRAMIER

Director · since 19 juin 2025 · until 19 juin 2031

Active

Ended mandates

Anville Participation

Director · since 19 juin 2025 · until 19 juin 2031

Represented by Joseph Asselin

Ended

Anville Participation

Director · since 21 juin 2019 · until 21 juin 2025

Represented by Joseph Asselin

Ended

Georges Tramier

Director · since 21 juin 2019 · until 21 juin 2025

Ended

Jean-Claude DEKOSTER

Director · since 21 juin 2019 · until 21 juin 2025

Ended

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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	01/01/2025	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	18/06/2026	23/07/2025	10/07/2024	02/08/2023	27/06/2022	08/07/2021
General meeting	05/05/2026	19/06/2025	20/06/2024	15/06/2023	16/06/2022	17/06/2021
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	05/05/2026	18/06/2026	French	PDF
Abridged model	31/12/2024	19/06/2025	23/07/2025	French	PDF
Abridged model	31/12/2023	20/06/2024	10/07/2024	French	PDF
Abridged model	31/12/2022	15/06/2023	02/08/2023	French	PDF
Abridged model	31/12/2021	16/06/2022	27/06/2022	French	PDF
Abridged model	31/12/2020	17/06/2021	08/07/2021	French	PDF
Abridged model	31/12/2019	03/07/2020	20/08/2020	French	PDF
Abridged model	31/12/2018	21/06/2019	31/07/2019	French	PDF
Abridged model	31/12/2017	21/06/2018	16/08/2018	French	PDF
Abridged model	31/12/2016	28/06/2017	25/08/2017	French	PDF
Abridged model	31/12/2015	16/06/2016	09/08/2016	French	PDF
Abridged model	31/12/2014	18/06/2015	18/08/2015	French	PDF
Abridged model	31/12/2013	19/06/2014	11/08/2014	French	PDF
Abridged model	31/12/2012	20/06/2013	30/08/2013	French	PDF
Abridged model	31/12/2011	30/03/2012	10/07/2012	French	PDF
Abridged model	31/12/2010	16/06/2011	17/06/2011	French	PDF
Abridged model	31/12/2009	17/06/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	18/06/2009	31/08/2009	French	PDF
Abridged model	31/12/2007	19/06/2008	26/08/2008	French	PDF
Abridged model	31/12/2006	21/06/2007	16/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 3 active · 12 ended

Active mandates

ANVILLE PARTICIPATION SA

Director · since 19 juin 2025 · until 19 juin 2031

Represented by Joseph ASSELIN

Active

DG CONSEIL

Director · since 19 juin 2025 · until 19 juin 2031 · 0428.909.848

Represented by Serge DECLERCK

Active

Georges TRAMIER

Director · since 19 juin 2025 · until 19 juin 2031

Active

Ended mandates

Anville Participation

Director · since 19 juin 2025 · until 19 juin 2031

Represented by Joseph Asselin

Ended

Anville Participation

Director · since 21 juin 2019 · until 21 juin 2025

Represented by Joseph Asselin

Ended

Georges Tramier

Director · since 21 juin 2019 · until 21 juin 2025

Ended

Jean-Claude DEKOSTER

Director · since 21 juin 2019 · until 21 juin 2025

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/07/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates11/12/2019
DEMISSIONS, NOMINATIONS
PDF
Registered office13/04/2018
SIEGE SOCIAL
PDF
Mandates17/09/2014
DEMISSIONS, NOMINATIONS
PDF
Mandates31/08/2012
DENOMINATION - CAPITAL, ACTIONS
PDF
Mandates14/06/2012
DEMISSIONS, NOMINATIONS
PDF
Capital / shares03/05/2010
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Capital / shares11/08/2009
CAPITAL, ACTIONS - 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 2025438,7 k €↑
2024
Annual accounts 2024292,8 k €↓
2023
Annual accounts 2023349,2 k €↓
2022
Annual accounts 2022349,7 k €↑
2021
Annual accounts 2021283,8 k €↑
2019
Annual accounts 2019269,3 k €↑
2018
Annual accounts 201871,7 k €↓
2017
Annual accounts 2017385,5 k €↓
2016
Annual accounts 2016554,2 k €↑
2015
Annual accounts 2015318,3 k €↓
2014
Annual accounts 2014572,9 k €↑
2013
Annual accounts 2013518,6 k €↓
2012
Annual accounts 2012684,2 k €↑
2012
Name changeZEEMST
2011
Annual accounts 2011262,4 k €↓
2010
Annual accounts 2010502,4 k €↑
2009
Annual accounts 2009159,7 k €↑
2008
Annual accounts 2008-550,8 k €↓
2007
Annual accounts 2007-316 k €↓
2006
Annual accounts 2006-2,7 k €
2006
Name changeANVILLE TWO
04/05/2001
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

ZEEMST

Overview

What does ZEEMST 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