ACTIVE

FLECSA HOLDING

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Financial year 2025 · closed on 30/09/2025

Net result

1,8 M €

+768.9% YoY

Gross margin

730 k €

+15.5% YoY

Equity

8 M €

+28.6% YoY

Workforce

1,0 ETP

0.0% YoY

What does FLECSA HOLDING do?

FLECSA HOLDING is a Public limited company incorporated in 2002. Its main activity is: Activities of holding companies. Its registered office is in Sint-Gillis-Waas. It employs on average 1,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0476.930.687

Incorporation

18/02/2002

Legal form

Public limited company

Registered office

Hoogeindeken(GW) 5
9170 Sint-Gillis-Waas · FlandreSee on map

Contributed capital

907 355,00 €

Latest accounts

30/09/2025

Average workforce

1,0 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 70200Management consultancy activities 70220Business and other management consultancy activities 74142Specialised design activities 64200Activities of holding companies+2

Joint committees (4)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2010		2009		2008		2007		2006
Income statement
Gross margin	730 k €	+15.5%	631,9 k €	-18.7%	777 k €	+1.0%	769,6 k €	+1.3%	759,8 k €	-46.0%	1,4 M €	+102%	696,1 k €	+6.2%	655,4 k €	+51.2%	433,3 k €	-24.4%	573,3 k €	-5.1%	603,9 k €	-30.4%	868 k €	+84.1%	471,6 k €	-69.7%	1,6 M €	+949%	148,3 k €	-53.0%	315,4 k €	-23.8%	413,8 k €	+162%	157,9 k €	-20.2%	198 k €
EBITDA	647,7 k €	+18.3%	547,6 k €	-18.8%	674,5 k €	+53.8%	438,4 k €	-35.7%	682,4 k €	-48.9%	1,3 M €	+135%	568,4 k €	-2.6%	583,4 k €	+71.3%	340,6 k €	-31.2%	494,8 k €	-8.3%	539,8 k €	-20.6%	679,9 k €	+66.1%	409,4 k €	-67.8%	1,3 M €	+753%	149 k €	+23.6%	120,5 k €	-31.8%	176,8 k €	+12.5%	157,1 k €	-20.3%	197,1 k €
Operating result	472,5 k €	+38.4%	341,4 k €	-28.5%	477,7 k €	+91.1%	249,9 k €	-43.5%	442,2 k €	+8.2%	408,5 k €	+26.1%	324 k €	-19.3%	401,6 k €	+179%	144,2 k €	-57.2%	336,9 k €	-8.0%	366 k €	-19.5%	454,8 k €	+170%	168,7 k €	-82.3%	951,6 k €	+1160%	75,5 k €	-9.9%	83,8 k €	-33.6%	126,1 k €	+19.6%	105,5 k €	-28.2%	147 k €
Net result	1,8 M €	+769%	205,9 k €	+1256%	15,2 k €	-90.8%	164,7 k €	-94.8%	3,2 M €	+428%	601 k €	+283%	157 k €	-45.8%	289,9 k €	-28.4%	405 k €	+177%	146,3 k €	+0.9%	145 k €	-32.5%	214,9 k €	+217%	67,7 k €	-94.0%	1,1 M €	+2632%	41,5 k €	+48.5%	27,9 k €	-28.7%	39,2 k €	-40.1%	65,5 k €	-40.1%	109,3 k €
Balance sheet
Equity	8 M €	+28.6%	6,2 M €	+3.4%	6 M €	-3.2%	6,2 M €	+0.2%	6,2 M €	+91.1%	3,3 M €	+13.8%	2,9 M €	-0.1%	2,9 M €	-2.6%	2,9 M €	+16.0%	2,5 M €	+6.1%	2,4 M €	-5.1%	2,5 M €	-24.9%	3,4 M €	+2.1%	3,3 M €	+52.6%	2,2 M €	+2.0%	2,1 M €	+2.3%	2,1 M €	-35.3%	3,2 M €	+2.1%	3,1 M €
Total assets	8,8 M €	+2.7%	8,6 M €	-0.9%	8,6 M €	-2.1%	8,8 M €	-1.0%	8,9 M €	+0.7%	8,9 M €	-0.6%	8,9 M €	+10.5%	8,1 M €	+4.2%	7,7 M €	+20.3%	6,4 M €	+2.9%	6,3 M €	+0.5%	6,2 M €	-8.0%	6,8 M €	+8.2%	6,3 M €	+80.1%	3,5 M €	-0.6%	3,5 M €	+10.2%	3,2 M €	-11.6%	3,6 M €	+5.9%	3,4 M €
Cash	166 k €	-12.3%	189,2 k €	+20.1%	157,6 k €	-31.1%	228,9 k €	-1.4%	232 k €	+26.6%	183,2 k €	+19.8%	152,9 k €	+42.2%	107,6 k €	-6.0%	114,4 k €	-5.0%	120,3 k €	+168%	44,9 k €	-86.1%	324 k €	+3092%	10,2 k €	-94.2%	175,8 k €	+5.6%	166,5 k €	+428%	31,5 k €	-80.7%	163 k €	+647%	21,8 k €	-81.3%	116,5 k €
Debts	766,5 k €	-67.0%	2,3 M €	-10.9%	2,6 M €	+0.5%	2,6 M €	-3.9%	2,7 M €	-51.8%	5,6 M €	-5.6%	5,9 M €	+16.5%	5,1 M €	+7.2%	4,8 M €	+24.7%	3,8 M €	+0.5%	3,8 M €	+6.1%	3,6 M €	+6.9%	3,3 M €	+15.6%	2,9 M €	+119%	1,3 M €	+27.1%	1 M €	+19.2%	871,2 k €	+119%	397 k €	+50.9%	263,2 k €
Other
Workforce	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	-16.7%	1,2 ETP	-25.0%	1,6 ETP	0.0%	1,6 ETP	-11.1%	1,8 ETP	+63.6%	1,1 ETP	+22.2%	0,9 ETP	0.0%	0,9 ETP	-25.0%	1,2 ETP	+20.0%	1,0 ETP		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 6 ended

Active mandates

Bart VAN HULLE

Manager

Active

Jiri Havrda

Manager

Active

Ended mandates

BVH - MANAGEMENT

Manager · since 16 mars 2006 · 0861.179.163

Represented by Bart Van Hulle

Ended

BVH - MANAGEMENT

Manager · since 16 mars 2006 · 0861.179.163

Represented by Bart Van Hulle

Ended

JH - CONSULTING s.r.o. Tsjechisch recht

Manager · since 16 mars 2006

Represented by JIRI HAVRDA

Ended

JH-CONSULTING s.r.o. Tsjechisch recht

Manager · since 16 mars 2006

Represented by Jiri Havrda

Ended

At this address

Other companies at this address

Company	CBE no.
EUROCHEM● Active	0456.003.433
Groep Flecsa● Active	0848.932.617

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	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	19/03/2026	25/02/2025	14/03/2024	13/03/2023	27/04/2022	28/03/2021
General meeting	27/02/2026	14/02/2025	01/03/2024	03/03/2023	31/03/2022	19/03/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	27/02/2026	19/03/2026	Dutch	PDF
Abridged model	30/09/2024	14/02/2025	25/02/2025	Dutch	PDF
Abridged model	30/09/2023	01/03/2024	14/03/2024	Dutch	PDF
Abridged model	30/09/2022	03/03/2023	13/03/2023	Dutch	PDF
Abridged model	30/09/2021	31/03/2022	27/04/2022	Dutch	PDF
Abridged model	30/09/2020	19/03/2021	28/03/2021	Dutch	PDF
Abridged model	30/09/2019	19/03/2020	24/03/2020	Dutch	PDF
Abridged model	30/09/2018	21/03/2019	25/03/2019	Dutch	PDF
Abridged model	30/09/2017	15/03/2018	29/03/2018	Dutch	PDF
Abridged model	30/09/2016	16/03/2017	03/04/2017	Dutch	PDF
Abridged model	30/09/2015	17/03/2016	10/05/2016	Dutch	PDF
Abridged model	30/09/2014	19/03/2015	07/04/2015	Dutch	PDF
Abridged model	30/09/2013	20/03/2014	24/03/2014	Dutch	PDF
Abridged model	30/09/2012	21/03/2013	22/03/2013	Dutch	PDF
Abridged model	31/12/2010	30/06/2011	04/07/2011	Dutch	PDF
Abridged model	31/12/2009	30/06/2010	06/07/2010	Dutch	PDF
Abridged model	31/12/2008	30/07/2009	27/08/2009	Dutch	PDF
Abridged model	31/12/2007	29/05/2008	06/06/2008	Dutch	PDF
Abridged model	31/12/2006	29/06/2007	29/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 30/09/2025 · 2 active · 6 ended

Active mandates

Bart VAN HULLE

Manager

Active

Jiri Havrda

Manager

Active

Ended mandates

BVH - MANAGEMENT

Manager · since 16 mars 2006 · 0861.179.163

Represented by Bart Van Hulle

Ended

BVH - MANAGEMENT

Manager · since 16 mars 2006 · 0861.179.163

Represented by Bart Van Hulle

Ended

JH - CONSULTING s.r.o. Tsjechisch recht

Manager · since 16 mars 2006

Represented by JIRI HAVRDA

Ended

JH-CONSULTING s.r.o. Tsjechisch recht

Manager · since 16 mars 2006

Represented by Jiri Havrda

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/03/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Other23/10/2018
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN
PDF
Capital / shares15/10/2014
KAPITAAL - AANDELEN
PDF
Capital / shares06/08/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office24/07/2013
MAATSCHAPPELIJKE ZETEL
PDF
Other18/01/2012
BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office18/03/2009
Wijziging maatschappelijke zetel
PDF
Capital / shares31/12/2008
KAPITAAL - AANDELEN
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 20251,8 M €↑
2024
Annual accounts 2024205,9 k €↑
2023
Annual accounts 202315,2 k €↓
2022
Annual accounts 2022164,7 k €↓
2021
Annual accounts 20213,2 M €↑
2020
Annual accounts 2020601 k €↑
2019
Annual accounts 2019157 k €↓
2018
Annual accounts 2018289,9 k €↓
2017
Annual accounts 2017405 k €↑
2016
Annual accounts 2016146,3 k €↑
2015
Annual accounts 2015145 k €↓
2014
Annual accounts 2014214,9 k €↑
2013
Annual accounts 201367,7 k €↓
2012
Annual accounts 20121,1 M €↑
2010
Annual accounts 201041,5 k €↑
2009
Annual accounts 200927,9 k €↓
2008
Annual accounts 200839,2 k €↓
2007
Annual accounts 200765,5 k €↓
2006
Annual accounts 2006109,3 k €
18/02/2002
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

FLECSA HOLDING

Overview

What does FLECSA HOLDING 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