ACTIVE

SEC NEWGATE EU

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Financial year 2025 · closed on 31/12/2025

Net result

-212,5 k €

-165.9% YoY

Gross margin

1,1 M €

-13.0% YoY

Equity

241,3 k €

-46.8% YoY

Workforce

16,8 ETP

-14.7% YoY

What does SEC NEWGATE EU do?

SEC NEWGATE EU is a Public limited company incorporated in 2001. Its main activity is: Management consultancy activities. Its registered office is in Ixelles. It employs on average 16,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0474.988.610

Incorporation

13/06/2001

Legal form

Public limited company

Registered office

Rue Defacqz 52
1050 Ixelles · BruxellesSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2025

Average workforce

16,8 ETP

Activities (NACE)

70200Management consultancy activities· main 70210Public relations and communication activities 70220Business and other management consultancy activities 73300Advertising and market research 74141Specialised design activities 74142Specialised design activities+3

Joint committees (2)

Signals

Low riskGood liquidityHealthy social debts

View the BCE/KBO Public Search record →

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	1,1 M €	-13.0%	1,2 M €	-24.4%	1,7 M €	-21.3%	2,1 M €	+3.5%	2 M €	+2.0%	2 M €	+9.0%	1,8 M €	+5.9%	1,7 M €		–		2 M €	+16.9%	1,7 M €	+43.6%	1,2 M €	+1.6%	1,2 M €	+32.6%	875,6 k €	+28.2%	683,1 k €	+128%	299 k €	+91.1%	156,5 k €	+14.3%	136,9 k €	-32.6%	203,1 k €	+10.9%	183,1 k €
EBITDA	-200,8 k €	-160%	-77,3 k €	-142%	182 k €	-61.2%	469,3 k €	-28.9%	660,1 k €	+2.7%	642,6 k €	+9.0%	589,7 k €	+4.5%	564,1 k €	+2082%	25,9 k €	-95.9%	626,3 k €	-21.2%	795,2 k €	+59.1%	499,9 k €	+6.7%	468,5 k €	+84.1%	254,4 k €	+64.5%	154,6 k €	+84.3%	83,9 k €	+31.2%	64 k €	+813%	-9 k €	-105%	167,1 k €	+25.7%	132,9 k €
Operating result	-206,9 k €	-178%	-74,5 k €	-148%	155,3 k €	-64.9%	442,2 k €	-30.0%	631,3 k €	+5.0%	601 k €	+9.3%	550 k €	+5.7%	520,6 k €	+3206%	-16,8 k €	-103%	585,5 k €	-23.6%	766,2 k €	+60.4%	477,6 k €	+8.8%	439,1 k €	+101%	218,5 k €	+78.3%	122,6 k €	+95.3%	62,8 k €	+19.8%	52,4 k €	+380%	-18,7 k €	-112%	156,9 k €	+28.2%	122,4 k €
Net result	-212,5 k €	-166%	-79,9 k €	-181%	98,7 k €	-68.4%	312,1 k €	-32.0%	458,8 k €	+4.3%	439,9 k €	+18.5%	371,2 k €	+5.9%	350,5 k €	+1432%	-26,3 k €	-107%	368,2 k €	-27.2%	505,4 k €	+62.3%	311,4 k €	+8.2%	287,8 k €	+113%	134,9 k €	+78.6%	75,5 k €	+87.9%	40,2 k €	+4.0%	38,6 k €	+296%	-19,7 k €	-120%	99,3 k €	+15.3%	86,1 k €
Balance sheet
Equity	241,3 k €	-46.8%	453,8 k €	-15.0%	533,7 k €	-0.3%	535 k €	+12.1%	477,1 k €	-42.4%	828,1 k €	-27.2%	1,1 M €	+6.7%	1,1 M €	0.0%	1,1 M €	-2.4%	1,1 M €	-14.3%	1,3 M €	+65.7%	769,8 k €	+1.5%	758,4 k €	+61.2%	470,6 k €	+40.2%	335,7 k €	+29.0%	260,1 k €	+18.3%	219,9 k €	+21.3%	181,3 k €	-9.8%	201 k €	+97.6%	101,7 k €
Total assets	923,1 k €	-21.7%	1,2 M €	-11.2%	1,3 M €	-18.7%	1,6 M €	-9.7%	1,8 M €	-24.9%	2,4 M €	+18.3%	2 M €	-0.5%	2 M €	+33.0%	1,5 M €	-23.4%	2 M €	-1.6%	2 M €	+16.2%	1,8 M €	+52.2%	1,2 M €	-7.3%	1,2 M €	+51.2%	823,2 k €	-19.0%	1 M €	+121%	459,4 k €	+22.1%	376,3 k €	-27.6%	519,5 k €	+22.7%	423,3 k €
Cash	108,3 k €	-60.1%	271,4 k €	-23.1%	352,7 k €	-4.4%	368,9 k €	-28.7%	517 k €	-55.0%	1,2 M €	+86.2%	617,7 k €	-4.1%	644 k €	+302%	160 k €	-62.7%	428,6 k €	-59.9%	1,1 M €	-4.0%	1,1 M €	+49.3%	746,6 k €	+28.0%	583,2 k €	+113%	273,3 k €	-17.0%	329,3 k €	+138%	138,1 k €	+5.5%	130,9 k €	+235%	39 k €	+34.3%	29 k €
Debts	591,7 k €	+15.3%	513,2 k €	-12.7%	588 k €	-36.4%	924,3 k €	-16.7%	1,1 M €	-16.5%	1,3 M €	+59.6%	832,7 k €	-6.1%	886,9 k €	+92.6%	460,4 k €	-49.6%	912,6 k €	+19.5%	763,9 k €	-6.2%	814,6 k €	+106%	395,1 k €	-46.1%	732,8 k €	+50.3%	487,6 k €	-32.6%	723,2 k €	+274%	193,4 k €	-0.8%	194,9 k €	-38.8%	318,4 k €	-1.0%	321,6 k €
Other
Workforce	16,8 ETP	-14.7%	19,7 ETP	-7.9%	21,4 ETP	-19.2%	26,5 ETP	+14.2%	23,2 ETP	+5.5%	22,0 ETP	+3.3%	21,3 ETP	+14.5%	18,6 ETP	-24.7%	24,7 ETP		–		17,0 ETP	+21.4%	14,0 ETP	0.0%	14,0 ETP	0.0%	14,0 ETP	+33.3%	10,5 ETP	+66.7%	6,3 ETP	+152%	2,5 ETP	+150%	1,0 ETP	0.0%	1,0 ETP	-33.3%	1,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 28 ended

Active mandates

SAFE Consulting

Managing director · since 23 mai 2025 · until 23 mai 2031 · 0833.806.060

Represented by Feriel Saouli

Active

Sergio Penna

Director · since 23 mai 2025 · until 09 mai 2030

Active

Fiorenzo TAGLIABUE

Chairman of the board of directors · since 01 avril 2024 · until 09 mai 2030

Active

Ended mandates

Fiorenzo TAGLIABUE

Chairman of the board of directors · since 01 avril 2024 · until 08 mai 2025

Ended

SAFE Consulting

Director · since 01 octobre 2022 · 0833.806.060

Represented by Feriel SAOULI

Ended

SAFE Consulting

Managing director · since 01 octobre 2022 · 0833.806.060

Represented by Feriel SAOULI

Ended

SAFE Consulting

Managing director · since 01 octobre 2022 · 0833.806.060

Represented by Feriel Saouli

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	01/01/2025	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	17/06/2026	02/06/2025	23/05/2024	09/05/2023	19/07/2022	10/06/2022
General meeting	11/06/2026	23/05/2025	09/05/2024	27/04/2023	10/06/2022	21/05/2021
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

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	11/06/2026	17/06/2026	French	PDF
Abridged model	31/12/2024	23/05/2025	02/06/2025	French	PDF
Abridged model	31/12/2023	09/05/2024	23/05/2024	French	PDF
Abridged model	31/12/2022	27/04/2023	09/05/2023	French	PDF
Abridged model	31/12/2021	10/06/2022	19/07/2022	French	PDF
Abridged modelCorrection	31/12/2020	21/05/2021	10/06/2022	French	PDF
Abridged model	31/12/2020	21/05/2021	07/06/2021	French	PDF
Abridged model	31/12/2019	03/06/2020	05/07/2020	French	PDF
Abridged model	31/12/2018	16/05/2019	19/08/2019	French	PDF
Full model	31/12/2017	22/05/2018	30/08/2018	French	PDF
Abridged model	31/12/2016	22/06/2017	20/07/2017	French	PDF
Abridged model	31/12/2015	11/04/2016	18/08/2016	French	PDF
Abridged model	31/12/2014	27/03/2015	09/06/2015	French	PDF
Abridged model	31/12/2013	03/04/2014	25/08/2014	French	PDF
Abridged model	31/12/2012	27/03/2013	17/04/2013	French	PDF
Abridged model	31/12/2011	31/05/2012	18/06/2012	French	PDF
Abridged model	31/12/2010	02/05/2011	30/08/2011	French	PDF
Abridged model	31/12/2009	03/05/2010	19/08/2010	French	PDF
Abridged model	31/12/2008	04/05/2009	28/08/2009	French	PDF
Abridged model	31/12/2007	05/05/2008	27/08/2008	French	PDF
Abridged model	31/12/2006	07/05/2007	31/08/2007	French	PDF
Abridged model	31/12/2005	02/05/2006	16/02/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

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 · 28 ended

Active mandates

SAFE Consulting

Managing director · since 23 mai 2025 · until 23 mai 2031 · 0833.806.060

Represented by Feriel Saouli

Active

Sergio Penna

Director · since 23 mai 2025 · until 09 mai 2030

Active

Fiorenzo TAGLIABUE

Chairman of the board of directors · since 01 avril 2024 · until 09 mai 2030

Active

Ended mandates

Fiorenzo TAGLIABUE

Chairman of the board of directors · since 01 avril 2024 · until 08 mai 2025

Ended

SAFE Consulting

Director · since 01 octobre 2022 · 0833.806.060

Represented by Feriel SAOULI

Ended

SAFE Consulting

Managing director · since 01 octobre 2022 · 0833.806.060

Represented by Feriel SAOULI

Ended

SAFE Consulting

Managing director · since 01 octobre 2022 · 0833.806.060

Represented by Feriel Saouli

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates14/07/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates18/12/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates28/02/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates09/12/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates17/01/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates13/12/2021
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DENOMINATION
PDF
Mandates04/06/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates21/09/2018
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 2025-212,5 k €↓
2024
Annual accounts 2024-79,9 k €↓
2023
Annual accounts 202398,7 k €↓
2022
Annual accounts 2022312,1 k €↓
2021
Annual accounts 2021458,8 k €↑
2021
Name changeSec Newgate EU
2020
Annual accounts 2020439,9 k €↑
2019
Annual accounts 2019371,2 k €↑
2018
Annual accounts 2018350,5 k €↑
2017
Annual accounts 2017-26,3 k €↓
2016
Annual accounts 2016368,2 k €↓
2015
Annual accounts 2015505,4 k €↑
2014
Annual accounts 2014311,4 k €↑
2013
Annual accounts 2013287,8 k €↑
2012
Annual accounts 2012134,9 k €↑
2011
Annual accounts 201175,5 k €↑
2010
Annual accounts 201040,2 k €↑
2009
Annual accounts 200938,6 k €↑
2008
Annual accounts 2008-19,7 k €↓
2007
Annual accounts 200799,3 k €↑
2006
Annual accounts 200686,1 k €
2006
Name changeCAMBRE ASSOCIATES
13/06/2001
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

SEC NEWGATE EU

Overview

What does SEC NEWGATE EU 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