ACTIVE

Bricowar

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Financial year 2025 · closed on 31/12/2025

Net result

59,3 k €

-55.4% YoY

Gross margin

383,7 k €

-20.0% YoY

Equity

964,4 k €

-0.1% YoY

Workforce

7,5 ETP

-1.3% YoY

What does Bricowar do?

Bricowar is a Public limited company incorporated in 2001. Its main activity is: Wholesale of wood, construction materials and sanitary equipment. Its registered office is in Waremme. It employs on average 7,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0476.419.854

Incorporation

28/12/2001

Legal form

Public limited company

Registered office

Chaussée Romaine (War) 190 box A
4300 Waremme · WallonieSee on map

Contributed capital

600 000,00 €

Latest accounts

31/12/2025

Average workforce

7,5 ETP

Activities (NACE)

46732Wholesale of wood, construction materials and sanitary equipment· main 46832Wholesale trade, except of motor vehicles and motorcycles 47521Retail sale of hardware, paints and glass in specialised stores 47521Retail sale of hardware, paints and glass in specialised stores 51531Air transport 52461Warehousing and support activities for transportation+12

Joint committees (4)

0
100
201
20100

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	383,7 k €	-20.0%	479,8 k €	-8.2%	522,8 k €	+10.6%	472,5 k €	-12.0%	537,1 k €	+102%	265,9 k €	-17.0%	320,5 k €	+42.1%	225,6 k €	-31.8%	330,5 k €	-14.2%	385,2 k €	+81.8%	211,9 k €	-22.4%	273,2 k €	+436%	51 k €	-37.6%	81,6 k €	-8.7%	89,5 k €	+10.1%	81,2 k €	-21.3%	103,2 k €	+16.1%	88,8 k €
EBITDA	66,5 k €	-56.1%	151,4 k €	-33.4%	227,5 k €	+41.8%	160,4 k €	-40.4%	268,9 k €	+4972%	5,3 k €	-94.8%	101,1 k €	+136%	42,8 k €	-61.7%	111,9 k €	-38.1%	180,8 k €	+249%	51,8 k €	-42.7%	90,3 k €	+384%	-31,8 k €	-217%	27,1 k €	-37.2%	43,1 k €	+63.5%	26,4 k €	-49.1%	51,9 k €	+36.4%	38 k €
Operating result	56,9 k €	-60.2%	142,9 k €	-31.5%	208,4 k €	+54.1%	135,2 k €	-40.4%	226,8 k €	+546%	-50,8 k €	-218%	43,2 k €	+386%	-15,1 k €	-129%	52,7 k €	-57.3%	123,6 k €	+6676%	-1,9 k €	-105%	40,2 k €	+168%	-59,3 k €	-682%	10,2 k €	-63.9%	28,2 k €	+108%	13,6 k €	-65.2%	39 k €	+55.7%	25 k €
Net result	59,3 k €	-55.4%	133,1 k €	-26.3%	180,7 k €	+27.2%	142,1 k €	-32.3%	210 k €	+498%	-52,7 k €	-365%	19,9 k €	+188%	-22,6 k €	-220%	18,8 k €	-80.2%	94,9 k €	+665%	-16,8 k €	-182%	20,5 k €	+130%	-68 k €	-1026%	7,3 k €	-63.0%	19,8 k €	+130%	8,6 k €	-69.0%	27,9 k €	+64.5%	16,9 k €
Balance sheet
Equity	964,4 k €	-0.1%	965,1 k €	+0.3%	962 k €	+4.4%	921,4 k €	+1.9%	904,3 k €	+372%	191,6 k €	-21.6%	244,3 k €	+8.9%	224,4 k €	-9.1%	246,9 k €	+8.2%	228,2 k €	+71.2%	133,2 k €	+35.1%	98,6 k €	+26.2%	78,1 k €	-46.5%	146,1 k €	+5.3%	138,8 k €	+16.7%	118,9 k €	+7.8%	110,3 k €	+33.8%	82,5 k €
Total assets	1,2 M €	-11.5%	1,4 M €	+7.7%	1,3 M €	-5.7%	1,3 M €	+15.1%	1,2 M €	+13.5%	1 M €	-0.0%	1 M €	-1.5%	1 M €	-1.8%	1,1 M €	-4.1%	1,1 M €	+0.9%	1,1 M €	-0.2%	1,1 M €	+9.5%	1 M €	+147%	406,6 k €	+5.1%	386,9 k €	-4.2%	404 k €	-8.0%	439 k €	+9.5%	401 k €
Cash	139,1 k €	-49.7%	276,2 k €	+38.2%	199,8 k €	-41.4%	340,9 k €	+62.2%	210,2 k €	+299%	52,7 k €	+60.4%	32,8 k €	-53.9%	71,2 k €	-44.7%	128,6 k €	+170%	47,6 k €	-38.1%	76,9 k €	-9.8%	85,3 k €	+19.6%	71,3 k €	+123%	32 k €	+35.3%	23,6 k €	-9.4%	26,1 k €	-51.4%	53,6 k €	+128%	23,5 k €
Debts	240,4 k €	-39.2%	395,6 k €	+31.3%	301,2 k €	-28.0%	418,7 k €	+60.9%	260,2 k €	-68.8%	834,8 k €	+6.7%	782,1 k €	-4.3%	817,3 k €	+0.5%	813,3 k €	-7.3%	877,4 k €	-8.8%	962,3 k €	-3.7%	998,9 k €	+8.1%	923,9 k €	+255%	260,5 k €	+6.4%	244,9 k €	-12.9%	281,3 k €	-13.5%	325,1 k €	+3.2%	315 k €
Other
Workforce	7,5 ETP	-1.3%	7,6 ETP	+2.7%	7,4 ETP	-6.3%	7,9 ETP	+8.2%	7,3 ETP	0.0%	7,3 ETP	+7.4%	6,8 ETP	+9.7%	6,2 ETP	-11.4%	7,0 ETP	+12.9%	6,2 ETP	+10.7%	5,6 ETP	+3.7%	5,4 ETP	+86.2%	2,9 ETP	+45.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 10 ended

Active mandates

GIKINVEST

Director · 0632.803.848

Represented by Delvaux GILLES

Active

Ended mandates

GIKINVEST

Director · since 22 décembre 2020 · 0632.803.848

Represented by Gilles DELVAUX

Ended

GIKINVEST

Managing director · since 01 juillet 2015 · until 06 juin 2022 · 0632.803.848

Represented by Gilles Delvaux

Ended

GIKINVEST

Manager · since 01 juillet 2015 · 0632.803.848

Represented by Gilles Delvaux

Ended

GIKINVEST

Manager · since 01 juillet 2015 · 0632.803.848

Represented by Gilles Delvaux

Ended

At this address

Other companies at this address

Company	CBE no.
oceanic● Active	0473.677.130

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	03/07/2026	17/07/2025	03/07/2024	19/06/2023	27/06/2022	23/06/2021
General meeting	19/06/2026	20/06/2025	21/06/2024	16/06/2023	17/06/2022	18/06/2021
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	19/06/2026	03/07/2026	French	PDF
Abridged model	31/12/2024	20/06/2025	17/07/2025	French	PDF
Abridged model	31/12/2023	21/06/2024	03/07/2024	French	PDF
Abridged model	31/12/2022	16/06/2023	19/06/2023	French	PDF
Abridged model	31/12/2021	17/06/2022	27/06/2022	French	PDF
Abridged model	31/12/2020	18/06/2021	23/06/2021	French	PDF
Abridged model	31/12/2019	02/06/2020	18/06/2020	French	PDF
Abridged model	31/12/2018	03/06/2019	06/06/2019	French	PDF
Abridged model	31/12/2017	04/06/2018	08/06/2018	French	PDF
Abridged model	31/12/2016	06/06/2017	06/07/2017	French	PDF
Abridged model	31/12/2015	06/06/2016	22/06/2016	French	PDF
Abridged model	31/12/2014	29/06/2015	09/07/2015	French	PDF
Abridged model	31/12/2013	02/06/2014	26/06/2014	French	PDF
Abridged model	31/12/2012	03/06/2013	01/07/2013	French	PDF
Abridged model	31/12/2011	04/06/2012	29/06/2012	French	PDF
Abridged model	31/12/2010	21/03/2011	08/06/2011	French	PDF
Abridged model	31/12/2009	07/06/2010	29/06/2010	French	PDF
Abridged model	31/12/2008	08/06/2009	22/07/2009	French	PDF
Abridged model	31/12/2007	02/06/2008	21/07/2008	French	PDF
Abridged model	31/12/2006	01/06/2007	23/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 1 active · 10 ended

Active mandates

GIKINVEST

Director · 0632.803.848

Represented by Delvaux GILLES

Active

Ended mandates

GIKINVEST

Director · since 22 décembre 2020 · 0632.803.848

Represented by Gilles DELVAUX

Ended

GIKINVEST

Managing director · since 01 juillet 2015 · until 06 juin 2022 · 0632.803.848

Represented by Gilles Delvaux

Ended

GIKINVEST

Manager · since 01 juillet 2015 · 0632.803.848

Represented by Gilles Delvaux

Ended

GIKINVEST

Manager · since 01 juillet 2015 · 0632.803.848

Represented by Gilles Delvaux

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/12/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Mandates14/08/2015
Démissions - Nominations
PDF
Capital / shares31/01/2014
Assemblée générale extraordinaire - Augmentation du capital - Extension de :
PDF
Mandates10/10/2011
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 202559,3 k €↓
2024
Annual accounts 2024133,1 k €↓
2023
Annual accounts 2023180,7 k €↑
2022
Annual accounts 2022142,1 k €↓
2021
Annual accounts 2021210 k €↑
2018
Annual accounts 2018-52,7 k €↓
2017
Annual accounts 201719,9 k €↑
2016
Annual accounts 2016-22,6 k €↓
2015
Annual accounts 201518,8 k €↓
2014
Annual accounts 201494,9 k €↑
2013
Annual accounts 2013-16,8 k €↓
2013
Name changeBRICOWAR
2012
Annual accounts 201220,5 k €↑
2011
Annual accounts 2011-68 k €↓
2010
Annual accounts 20107,3 k €↓
2009
Annual accounts 200919,8 k €↑
2008
Annual accounts 20088,6 k €↓
2007
Annual accounts 200727,9 k €↑
2006
Annual accounts 200616,9 k €
2006
Name changeGENERAL PLASTIQUE MS
28/12/2001
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

Bricowar

Overview

What does Bricowar 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