ACTIVE

PSR

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Financial year 2025 · closed on 31/12/2025

Net result

932,5 k €

+248.6% YoY

Revenue

2,2 M €

+272.1% YoY

Equity

33,6 M €

+0.5% YoY

Workforce

3,5 ETP

0.0% YoY

What does PSR do?

PSR is a Public limited company incorporated in 2001. Its main activity is: Treatment and disposal of non-hazardous waste. Its registered office is in Aalst. It employs on average 3,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0476.155.776

Incorporation

23/11/2001

Legal form

Public limited company

Registered office

Tragel 60
9308 Aalst · FlandreSee on map

Contributed capital

30 000 000,00 €

Latest accounts

31/12/2025

Average workforce

3,5 ETP

Activities (NACE)

38219Treatment and disposal of non-hazardous waste· main 38330Materials recovery 64200Activities of holding companies 64210Activities of holding companies 74151Specialised design activities 90021Support activities to performing arts

Joint committees (2)

Signals

ProfitablePositive cashflowHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2011		2010		2009		2008		2008		2007
Income statement
Revenue	2,2 M €	+272%	595,1 k €	-89.9%	5,9 M €	-2.6%	6 M €	+3.1%	5,8 M €	+1001%	530,8 k €	-73.0%	2 M €	-23.6%	2,6 M €	-0.4%	2,6 M €	-28.0%	3,6 M €	+510%	587,1 k €	-70.2%	2 M €	-36.6%	3,1 M €		–		–		–		–		–
EBITDA	-303 k €	+71.0%	-1 M €	-164%	1,6 M €	+797%	180,8 k €	-92.4%	2,4 M €	+26.5%	1,9 M €	+1084%	-191,5 k €	+27.8%	-265,2 k €	+66.1%	-783,2 k €	-312%	368,8 k €	+159%	-621,1 k €	-55.7%	-398,9 k €	-200%	397,1 k €	+3.4%	383,9 k €	+37.3%	279,5 k €	+344%	62,9 k €	-78.2%	288,9 k €	+516%	-69,4 k €
Operating result	-962,3 k €	+12.2%	-1,1 M €	-217%	939,8 k €	-6.3%	1 M €	-56.9%	2,3 M €	+23.7%	1,9 M €	+1040%	-199,9 k €	+29.8%	-284,9 k €	+64.5%	-802,3 k €	-327%	352,7 k €	+155%	-637,3 k €	-54.0%	-413,8 k €	-279%	231,2 k €	+28.4%	180,1 k €	+118%	82,5 k €	+583%	12,1 k €	-89.6%	115,9 k €	+141%	-284,4 k €
Net result	932,5 k €	+249%	-627,5 k €	-128%	2,2 M €	+10.2%	2 M €	+60.6%	1,3 M €	-35.0%	1,9 M €	+1365%	-153,8 k €	+33.5%	-231,2 k €	-115%	1,5 M €	+207%	488,2 k €	+180%	-611,2 k €	-65.9%	-368,5 k €	-1375%	-25 k €	-197%	25,7 k €	-10.9%	28,8 k €	+200%	-28,8 k €	-105%	555,5 k €	+284%	-301,6 k €
Balance sheet
Equity	33,6 M €	+0.5%	33,4 M €	-1.8%	34,1 M €	+2.5%	33,2 M €	+2.6%	32,4 M €	+0.2%	32,3 M €	+3.0%	31,4 M €	-0.5%	31,5 M €	-0.7%	31,8 M €	+5.0%	30,3 M €	+1.6%	29,8 M €	-2.0%	30,4 M €	+4813%	618,3 k €	-3.9%	643,3 k €	+4.2%	617,6 k €	+4.9%	588,7 k €	-4.7%	617,6 k €	+895%	62,1 k €
Total assets	142,1 M €	+89.7%	74,9 M €	+51.5%	49,4 M €	+15.0%	43 M €	-2.8%	44,2 M €	+10.6%	40 M €	+5.5%	37,9 M €	-7.1%	40,8 M €	+10.8%	36,8 M €	+3.3%	35,6 M €	-1.4%	36,1 M €	+8.3%	33,4 M €	+620%	4,6 M €	-6.7%	5 M €	-29.6%	7,1 M €	-53.5%	15,2 M €	-5.6%	16,1 M €	+11.5%	14,4 M €
Cash	3,6 M €	+3169%	109,7 k €	-47.4%	208,5 k €	-94.0%	3,5 M €	-4.1%	3,6 M €	+15.7%	3,1 M €	+442%	574,7 k €	-17.5%	696,9 k €	+97.1%	353,5 k €	+61.3%	219,2 k €	+190%	75,6 k €	-49.6%	150,1 k €	-65.9%	440,2 k €	+31.1%	335,8 k €	-58.0%	799,7 k €	+600%	114,3 k €	-47.9%	219,6 k €	+101%	109,5 k €
Debts	108,1 M €	+161%	41,5 M €	+170%	15,4 M €	+59.5%	9,6 M €	-11.2%	10,9 M €	+62.9%	6,7 M €	+51.9%	4,4 M €	-38.4%	7,1 M €	+78.8%	4 M €	-20.3%	5 M €	-16.1%	6 M €	+99.4%	3 M €	-23.2%	3,9 M €	-9.8%	4,3 M €	-32.4%	6,4 M €	-56.3%	14,6 M €	-5.7%	15,5 M €	+7.7%	14,4 M €
Other
Workforce	3,5 ETP	0.0%	3,5 ETP	-7.9%	3,8 ETP	0.0%	3,8 ETP	0.0%	3,8 ETP	0.0%	3,8 ETP	+15.2%	3,3 ETP	-8.3%	3,6 ETP	-39.0%	5,9 ETP	+18.0%	5,0 ETP	+2.0%	4,9 ETP	+22.5%	4,0 ETP	-73.7%	15,2 ETP	-25.5%	20,4 ETP	+9.1%	18,7 ETP	+2.2%	18,3 ETP	+56.4%	11,7 ETP	+109%	5,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 34 ended

Active mandates

JDN

Managing director · since 23 février 2026 · until 17 juin 2031 · 1033.865.689

Represented by Julie De Nul

Active

Jan De Nul

Managing director · since 26 juin 2025 · until 17 juin 2031 · 0406.041.406

Represented by Jan Pieter Jozef De Nul

Active

Paul Lievens

Director · since 26 juin 2025 · until 17 juin 2031

Active

Ended mandates

Jan De Nul

Director · since 27 juin 2019 · until 26 juin 2024 · 0406.041.406

Represented by Jan Pieter Jozef De Nul

Ended

Jan De Nul

Director · since 27 juin 2019 · until 10 juin 2025 · 0406.041.406

Represented by Jan Pieter Jozef De Nul

Ended

Jan De Nul

Director · since 27 juin 2019 · until 26 juin 2025 · 0406.041.406

Represented by Jan Pieter Jozef De Nul

Ended

Jan De Nul

Managing director · since 27 juin 2019 · until 17 juin 2025 · 0406.041.406

Represented by Jan Pieter Jozef De Nul

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	08/07/2026	10/07/2025	02/07/2024	30/06/2023	15/07/2022	06/07/2021
General meeting	26/06/2026	26/06/2025	25/06/2024	23/06/2023	28/06/2022	22/06/2021
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

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/06/2026	08/07/2026	Dutch	PDF
Full model	31/12/2024	26/06/2025	10/07/2025	Dutch	PDF
Full model	31/12/2023	25/06/2024	02/07/2024	Dutch	PDF
Full model	31/12/2022	23/06/2023	30/06/2023	Dutch	PDF
Full modelCorrection	31/12/2021	28/06/2022	15/07/2022	Dutch	PDF
Full model	31/12/2021	28/06/2022	01/07/2022	Dutch	PDF
Full model	31/12/2020	22/06/2021	06/07/2021	Dutch	PDF
Full model	31/12/2019	24/06/2020	13/07/2020	Dutch	PDF
Full model	31/12/2018	26/06/2019	05/07/2019	Dutch	PDF
Full model	31/12/2017	07/06/2018	06/07/2018	Dutch	PDF
Full model	31/12/2016	23/05/2017	22/06/2017	Dutch	PDF
Full model	31/12/2015	23/05/2016	22/06/2016	Dutch	PDF
Full model	31/12/2014	06/07/2015	03/08/2015	Dutch	PDF
Full model	31/12/2013	12/06/2014	30/06/2014	Dutch	PDF
Full model	31/12/2012	15/04/2013	20/06/2013	Dutch	PDF
Full model	31/12/2011	14/06/2012	04/07/2012	Dutch	PDF
Abridged model	31/12/2010	29/08/2011	16/09/2011	Dutch	PDF
Abridged model	31/12/2009	10/06/2010	10/11/2010	Dutch	PDF
Abridged model	31/12/2008	11/06/2009	08/07/2009	Dutch	PDF
Abridged model	30/09/2008	03/02/2009	17/03/2009	Dutch	PDF
Abridged model	30/09/2007	26/02/2008	21/04/2008	Dutch	PDF
Abridged model	30/09/2006	06/02/2007	08/03/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 · 34 ended

Active mandates

JDN

Managing director · since 23 février 2026 · until 17 juin 2031 · 1033.865.689

Represented by Julie De Nul

Active

Jan De Nul

Managing director · since 26 juin 2025 · until 17 juin 2031 · 0406.041.406

Represented by Jan Pieter Jozef De Nul

Active

Paul Lievens

Director · since 26 juin 2025 · until 17 juin 2031

Active

Ended mandates

Jan De Nul

Director · since 27 juin 2019 · until 26 juin 2024 · 0406.041.406

Represented by Jan Pieter Jozef De Nul

Ended

Jan De Nul

Director · since 27 juin 2019 · until 10 juin 2025 · 0406.041.406

Represented by Jan Pieter Jozef De Nul

Ended

Jan De Nul

Director · since 27 juin 2019 · until 26 juin 2025 · 0406.041.406

Represented by Jan Pieter Jozef De Nul

Ended

Jan De Nul

Managing director · since 27 juin 2019 · until 17 juin 2025 · 0406.041.406

Represented by Jan Pieter Jozef De Nul

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/03/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares26/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING - KAPITAAL - AANDELEN
PDF
Mandates07/07/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/04/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/07/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/06/2018
ONTSLAGEN - BENOEMINGEN
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

23/02/2026
nominationJDN — bestuurder
23/02/2026
nominationJDN — gedelegeerd bestuurder
2025
Annual accounts 2025932,5 k €↑
26/06/2025
reconductionJan De Nul NV — bestuurder
26/06/2025
reconductionJulie De Nul — bestuurder
26/06/2025
reconductionPaul Lievens — bestuurder
26/06/2025
nominationJan De Nul NV — gedelegeerd bestuurder
26/06/2025
nominationJulie De Nul — gedelegeerd bestuurder
2024
Annual accounts 2024-627,5 k €↓
01/10/2024
nominationSam Vander Vennet — wettelijke vertegenwoordiger van de commissaris
25/06/2024
reconductionBDO Bedrijfsrevisoren BV — commissaris
09/02/2024
nominationJan De Nul — bestuurder
09/02/2024
nominationDE NUL Julie — bestuurder
09/02/2024
nominationLIEVENS Paul — bestuurder
2023
Annual accounts 20232,2 M €↑
2022
Annual accounts 20222 M €↑
2021
Annual accounts 20211,3 M €↓
2020
Annual accounts 20201,9 M €↑
2019
Annual accounts 2019-153,8 k €↑
2018
Annual accounts 2018-231,2 k €↓
2017
Annual accounts 20171,5 M €↑
2016
Annual accounts 2016488,2 k €↑
2015
Annual accounts 2015-611,2 k €↓
2014
Annual accounts 2014-368,5 k €↓
2011
Annual accounts 2011-25 k €↓
2010
Annual accounts 201025,7 k €↓
2009
Annual accounts 200928,8 k €↑
2008
Annual accounts 2008-28,8 k €↓
2008
Annual accounts 2008555,5 k €↑
2008
Name changePSR Brownfield Developers
2007
Annual accounts 2007-301,6 k €
2007
Name changePSR
23/11/2001
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

PSR

Overview

What does PSR do?

Trend over 18 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