ACTIVE

BHSI SERVICES

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Financial year 2025 · closed on 31/12/2025

Net result

221,9 k €

-18.5% YoY

Gross margin

330,9 k €

-19.6% YoY

Equity

1,2 M €

+12.7% YoY

What does BHSI SERVICES do?

BHSI SERVICES is a Private company with limited liability incorporated in 2001. Its main activity is: Management consultancy activities. Its registered office is in Ciney.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0476.280.094

Incorporation

11/12/2001

Legal form

Private company with limited liability

Registered office

Route du Jonkoy(Pessoux) 9
5590 Ciney · WallonieSee on map

Contributed capital

6 200,00 €

Latest accounts

31/12/2025

Activities (NACE)

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

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	330,9 k €	-19.6%	411,7 k €	+38.8%	296,7 k €	-5.2%	312,9 k €	+42.1%	220,1 k €	+20.4%	182,9 k €	+6.8%	171,2 k €	+3.7%	165,1 k €	+31.4%	125,7 k €	+29.2%	97,3 k €	-10.5%	108,7 k €	-17.4%	131,6 k €	+15.4%	114 k €	+20.5%	94,7 k €	+38.7%	68,2 k €	+11.6%	61,2 k €	-29.7%	87,1 k €	+58.7%	54,9 k €	-4.6%	57,5 k €	-0.9%	58 k €
EBITDA	324,7 k €	-19.8%	405,1 k €	+39.6%	290,3 k €	-5.5%	307 k €	+46.3%	209,9 k €	+42.2%	147,6 k €	+13.0%	130,6 k €	-5.9%	138,7 k €	+25.7%	110,3 k €	+47.5%	74,8 k €	-28.3%	104,3 k €	-5.7%	110,5 k €	+42.9%	77,3 k €	-5.6%	81,9 k €	+26.6%	64,7 k €	+28.6%	50,3 k €	-40.1%	84 k €	+57.9%	53,2 k €	-6.9%	57,1 k €	-0.9%	57,7 k €
Operating result	301,2 k €	-21.1%	381,6 k €	+49.3%	255,6 k €	-6.1%	272,3 k €	+56.9%	173,6 k €	+54.3%	112,5 k €	+16.7%	96,4 k €	+2.5%	94 k €	+43.2%	65,7 k €	+221%	20,5 k €	-70.8%	70,1 k €	-7.9%	76,1 k €	+78.5%	42,7 k €	-17.4%	51,6 k €	+36.3%	37,9 k €	+372%	8 k €	-63.5%	22 k €	+98.6%	11,1 k €	-80.4%	56,4 k €	-1.7%	57,4 k €
Net result	221,9 k €	-18.5%	272,3 k €	+47.2%	185 k €	-6.0%	196,8 k €	+48.9%	132,2 k €	+46.9%	90 k €	+18.7%	75,8 k €	+21.3%	62,5 k €	-5.1%	65,9 k €	+377%	13,8 k €	-59.8%	34,4 k €	-12.2%	39,2 k €	+15.2%	34 k €	-27.3%	46,8 k €	+84.4%	25,4 k €	+1080%	2,2 k €	-84.5%	13,9 k €	-93.6%	216,7 k €	+491%	36,6 k €	+104%	17,9 k €
Balance sheet
Equity	1,2 M €	+12.7%	1 M €	+19.8%	868,8 k €	+8.1%	803,9 k €	+10.6%	727 k €	-2.4%	744,8 k €	+13.8%	654,8 k €	+13.1%	579 k €	+12.1%	516,5 k €	+14.6%	450,6 k €	+3.2%	436,8 k €	+8.5%	402,4 k €	+10.8%	363,2 k €	+10.3%	329,2 k €	+16.6%	282,4 k €	+9.9%	257 k €	-3.4%	266,1 k €	+1.0%	263,3 k €	+293%	67 k €	+121%	30,4 k €
Total assets	1,3 M €	+9.5%	1,2 M €	+9.8%	1,1 M €	-5.2%	1,2 M €	+1.4%	1,1 M €	+4.0%	1,1 M €	-1.4%	1,1 M €	+4.9%	1,1 M €	+30.1%	819,2 k €	-1.6%	832,5 k €	+12.7%	738,6 k €	-3.1%	762,5 k €	-1.4%	773,2 k €	-13.3%	891,7 k €	+23.2%	723,9 k €	+9.2%	663,1 k €	-3.5%	687,1 k €	+6.4%	646,1 k €	+221%	201,5 k €	+43.7%	140,2 k €
Cash	90,6 k €	+87.5%	48,3 k €	-14.7%	56,7 k €	-68.5%	180,1 k €	-14.3%	210 k €	+257%	58,8 k €	-24.3%	77,7 k €	+65.0%	47,1 k €	-29.7%	67 k €	-42.6%	116,6 k €	-51.5%	240,3 k €	+87.0%	128,5 k €	+42.8%	90 k €	+804%	9,9 k €	-87.7%	81,1 k €	+217%	25,6 k €	-12.3%	29,1 k €	+70.0%	17,1 k €	+262%	4,7 k €	+204%	1,6 k €
Debts	142 k €	-8.5%	155,1 k €	-27.4%	213,8 k €	-35.3%	330,6 k €	-14.8%	388,1 k €	+21.0%	320,8 k €	-24.1%	422,9 k €	-4.7%	443,6 k €	+73.7%	255,4 k €	-22.4%	329,1 k €	+34.6%	244,5 k €	-17.5%	296,1 k €	-12.6%	339 k €	-31.4%	494,5 k €	+33.9%	369,4 k €	+11.7%	330,6 k €	-3.1%	341,3 k €	+14.2%	298,9 k €	+127%	132 k €	+20.2%	109,8 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		0,4 ETP	-55.6%	0,9 ETP	+350%	0,2 ETP		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 2 ended

Active mandates

VERLAINE Bertrand

Mandate

Active

VERLAINE Vincent

Mandate

Active

Ended mandates

Bertrand VERLAINE

Manager · since 03 janvier 2013

Ended

Vincent VERLAINE

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
POP MUSIC BY CINEY● Active	0501.898.289

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	16/06/2026	21/08/2025	20/08/2024	31/07/2023	24/08/2022	16/08/2021
General meeting	22/05/2026	23/05/2025	24/05/2024	26/05/2023	27/05/2022	28/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	22/05/2026	16/06/2026	French	PDF
Micro model	31/12/2024	23/05/2025	21/08/2025	French	PDF
Micro model	31/12/2023	24/05/2024	20/08/2024	French	PDF
Micro model	31/12/2022	26/05/2023	31/07/2023	French	PDF
Micro model	31/12/2021	27/05/2022	24/08/2022	French	PDF
Micro model	31/12/2020	28/05/2021	16/08/2021	French	PDF
Micro model	31/12/2019	22/05/2020	28/07/2020	French	PDF
Micro model	31/12/2018	24/05/2019	25/07/2019	French	PDF
Micro model	31/12/2017	25/05/2018	29/06/2018	French	PDF
Micro model	31/12/2016	26/05/2017	03/08/2017	French	PDF
Abridged model	31/12/2015	27/05/2016	23/08/2016	French	PDF
Abridged model	31/12/2014	22/05/2015	25/08/2015	French	PDF
Abridged model	31/12/2013	23/05/2014	20/08/2014	French	PDF
Abridged model	31/12/2012	24/05/2013	22/08/2013	French	PDF
Abridged model	31/12/2011	25/05/2012	29/08/2012	French	PDF
Abridged model	31/12/2010	27/05/2011	03/08/2011	French	PDF
Abridged model	31/12/2009	28/05/2010	23/08/2010	French	PDF
Abridged model	31/12/2008	22/05/2009	24/08/2009	French	PDF
Abridged model	31/12/2007	23/05/2008	25/08/2008	French	PDF
Abridged model	31/12/2006	25/05/2007	03/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 31/12/2025 · 2 active · 2 ended

Active mandates

VERLAINE Bertrand

Mandate

Active

VERLAINE Vincent

Mandate

Active

Ended mandates

Bertrand VERLAINE

Manager · since 03 janvier 2013

Ended

Vincent VERLAINE

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/01/2013
DEMISSIONS, NOMINATIONS
PDF
Other30/12/2008
LUI
PDF
Restructuring27/10/2008
Dépôt du projet de fusion
PDF
Other30/06/2006
Rectificatif
PDF
Other24/05/2006
Extrait du procès-verbal de l'assemblée générale extraordiniare des associés en date du deux mai deux:
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 2025221,9 k €↓
2024
Annual accounts 2024272,3 k €↑
2023
Annual accounts 2023185 k €↓
2022
Annual accounts 2022196,8 k €↑
2021
Annual accounts 2021132,2 k €↑
2020
Annual accounts 202090 k €↑
2019
Annual accounts 201975,8 k €↑
2018
Annual accounts 201862,5 k €↓
2017
Annual accounts 201765,9 k €↑
2016
Annual accounts 201613,8 k €↓
2015
Annual accounts 201534,4 k €↓
2014
Annual accounts 201439,2 k €↑
2013
Annual accounts 201334 k €↓
2012
Annual accounts 201246,8 k €↑
2011
Annual accounts 201125,4 k €↑
2010
Annual accounts 20102,2 k €↓
2009
Annual accounts 200913,9 k €↓
2008
Annual accounts 2008216,7 k €↑
2007
Annual accounts 200736,6 k €↑
2006
Annual accounts 200617,9 k €
11/12/2001
IncorporationPrivate company with limited liability

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

BHSI SERVICES

Overview

What does BHSI SERVICES 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