ACTIVE

MILCYCLE

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Financial year 2025 · closed on 31/12/2025

Net result

21,3 k €

-88.1% YoY

Gross margin

376,9 k €

-30.5% YoY

Equity

278,2 k €

+8.3% YoY

Workforce

3,8 ETP

-5.0% YoY

What does MILCYCLE do?

MILCYCLE is a Private limited company incorporated in 2002. Its registered office is in Waterloo. It employs on average 3,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0477.428.654

Incorporation

24/04/2002

Legal form

Private limited company

Registered office

Chaussée de Bruxelles 72 box C 1
1410 Waterloo · WallonieSee on map

Contributed capital

20 000,00 €

Latest accounts

31/12/2025

Average workforce

3,8 ETP

Joint committees (3)

149
14904
201

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	376,9 k €	-30.5%	542,5 k €	+21.0%	448,3 k €	-15.7%	531,5 k €	+15.1%	462 k €	-12.7%	529 k €	+15.5%	458,2 k €	+62.3%	282,4 k €	+70.5%	165,6 k €	-11.0%	186,1 k €	+9.0%	170,7 k €	-20.4%	214,5 k €	+54.6%	138,7 k €	-11.4%	156,6 k €	+21.4%	129 k €	+106%	62,5 k €	-55.2%	139,5 k €	+46.8%	95,1 k €	-6.8%	102 k €	+11.6%	91,4 k €
EBITDA	163 k €	-52.1%	340,3 k €	+112%	160,8 k €	-47.0%	303,1 k €	+3.9%	291,8 k €	-22.5%	376,6 k €	+23.5%	305 k €	+104%	149,7 k €	+145%	61 k €	-35.9%	95,2 k €	-3.4%	98,6 k €	-28.0%	136,9 k €	+49.1%	91,8 k €	-23.4%	119,9 k €	+13.7%	105,4 k €	+116%	48,7 k €	-56.9%	113,1 k €	+66.0%	68,2 k €	-0.9%	68,8 k €	+13.9%	60,4 k €
Operating result	81,5 k €	-68.3%	257,3 k €	+227%	78,6 k €	-64.9%	223,8 k €	+21.9%	183,5 k €	-41.0%	310,8 k €	+17.7%	264,2 k €	+156%	103,4 k €	+624%	14,3 k €	-73.5%	53,9 k €	-7.4%	58,2 k €	-48.0%	111,8 k €	+239%	33 k €	-65.6%	95,8 k €	+31.3%	73 k €	+250%	20,9 k €	-75.7%	86 k €	+111%	40,7 k €	-6.8%	43,7 k €	+19.8%	36,5 k €
Net result	21,3 k €	-88.1%	178,4 k €	+332%	41,3 k €	-70.4%	139,3 k €	+18.3%	117,7 k €	-44.4%	211,7 k €	+31.3%	161,3 k €	+145%	65,8 k €	+1843%	-3,8 k €	-120%	18,5 k €	-38.6%	30,2 k €	-52.0%	62,9 k €	+349%	14 k €	-81.6%	76,1 k €	+55.5%	49 k €	+278%	13 k €	-76.3%	54,8 k €	+72.4%	31,8 k €	+94.9%	16,3 k €	-29.9%	23,3 k €
Balance sheet
Equity	278,2 k €	+8.3%	256,9 k €	-73.7%	978,5 k €	+4.4%	937,2 k €	+17.5%	797,9 k €	+17.3%	680,2 k €	+45.2%	468,5 k €	+52.5%	307,2 k €	+27.2%	241,4 k €	-1.5%	245,2 k €	+8.2%	226,7 k €	+15.4%	196,5 k €	+47.1%	133,6 k €	+11.7%	119,6 k €	+1.0%	118,5 k €	+19.0%	99,5 k €	-2.0%	101,6 k €	+17.0%	86,8 k €	+18.8%	73,1 k €	+6.3%	68,8 k €
Total assets	1,9 M €	-5.1%	2,1 M €	+2.7%	2 M €	-3.9%	2,1 M €	+0.2%	2,1 M €	-21.1%	2,6 M €	+53.2%	1,7 M €	+2.3%	1,7 M €	+4.3%	1,6 M €	+0.7%	1,6 M €	-7.6%	1,7 M €	+60.1%	1,1 M €	+9.8%	985,2 k €	+78.5%	552 k €	+10.1%	501,4 k €	+20.1%	417,4 k €	-4.0%	434,6 k €	+17.1%	371,2 k €	-2.1%	379 k €	+27.3%	297,7 k €
Cash	327,5 k €	-9.8%	363,1 k €	+24.7%	291,1 k €	-12.2%	331,6 k €	-15.9%	394,2 k €	-39.2%	648,8 k €	+117%	299,6 k €	+30.8%	229 k €	+11.2%	205,9 k €	-0.1%	206,2 k €	-35.0%	317,3 k €	+79.8%	176,4 k €	-11.4%	199,2 k €	+98.4%	100,4 k €	-43.7%	178,4 k €	+96.2%	90,9 k €	-17.4%	110 k €	+175%	40 k €	-24.8%	53,2 k €	-3.8%	55,3 k €
Debts	1,7 M €	-7.0%	1,8 M €	+75.8%	1 M €	-10.7%	1,1 M €	-10.5%	1,3 M €	-34.4%	2 M €	+56.2%	1,2 M €	-9.0%	1,4 M €	+0.2%	1,4 M €	+1.1%	1,4 M €	-10.0%	1,5 M €	+70.1%	884,8 k €	+3.9%	851,6 k €	+97.1%	432 k €	+12.9%	382,8 k €	+20.4%	317,8 k €	-4.5%	332,9 k €	+17.1%	284,3 k €	-7.1%	305,9 k €	+33.6%	228,9 k €
Other
Workforce	3,8 ETP	-5.0%	4,0 ETP	-29.8%	5,7 ETP	+5.6%	5,4 ETP	+58.8%	3,4 ETP	-10.5%	3,8 ETP	+2.7%	3,7 ETP	+8.8%	3,4 ETP	+21.4%	2,8 ETP	+21.7%	2,3 ETP	+15.0%	2,0 ETP	0.0%	2,0 ETP	+66.7%	1,2 ETP	+9.1%	1,1 ETP	0.0%	1,1 ETP	-35.3%	1,7 ETP	+30.8%	1,3 ETP	0.0%	1,3 ETP	+30.0%	1,0 ETP	0.0%	1,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 4 ended

Active mandates

MILCYCLE

Mandate · 0477.428.654

Represented by Maxime OPSOMMER

Active

Nathalie BOUCAU

Mandate

Active

Xavier OPSOMMER

Mandate

Active

Ended mandates

Nathalie BOUCAU

Director

Ended

Nathalie BOUCAU

Manager

Ended

Xavier OPSOMMER

Director

Ended

Xavier OPSOMMER

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
Association des copropriétaires de la "Résidence 72" sise à Waterloo, chaussée de Bruxelles, 72● Active	0645.725.337
Milcycle Management● Active	1003.371.265

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	09/07/2026	11/09/2025	31/07/2024	11/07/2023	30/08/2022	10/09/2021
General meeting	25/05/2026	26/05/2025	27/05/2024	29/05/2023	30/05/2022	31/05/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	25/05/2026	09/07/2026	French	PDF
Abridged modelCorrection	31/12/2024	26/05/2025	11/09/2025	French	PDF
Abridged model	31/12/2024	26/05/2025	12/08/2025	French	PDF
Abridged model	31/12/2023	27/05/2024	31/07/2024	French	PDF
Abridged model	31/12/2022	29/05/2023	11/07/2023	French	PDF
Abridged model	31/12/2021	30/05/2022	30/08/2022	French	PDF
Abridged model	31/12/2020	31/05/2021	10/09/2021	French	PDF
Abridged model	31/12/2019	25/05/2020	02/09/2020	French	PDF
Abridged model	31/12/2018	27/05/2019	21/08/2019	French	PDF
Abridged model	31/12/2017	28/05/2018	06/11/2018	French	PDF
Abridged model	31/12/2016	29/05/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	30/05/2016	19/09/2016	French	PDF
Abridged model	31/12/2014	25/05/2015	10/07/2015	French	PDF
Abridged model	31/12/2013	26/05/2014	30/09/2014	French	PDF
Abridged model	31/12/2012	27/05/2013	23/09/2013	French	PDF
Abridged model	31/12/2011	28/05/2012	20/08/2012	French	PDF
Abridged model	31/12/2010	30/05/2011	25/08/2011	French	PDF
Abridged model	31/12/2009	31/05/2010	14/10/2010	French	PDF
Abridged model	31/12/2008	25/05/2009	11/08/2009	French	PDF
Abridged model	31/12/2007	26/05/2008	01/08/2008	French	PDF
Abridged model	31/12/2006	29/05/2007	30/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 · 4 ended

Active mandates

MILCYCLE

Mandate · 0477.428.654

Represented by Maxime OPSOMMER

Active

Nathalie BOUCAU

Mandate

Active

Xavier OPSOMMER

Mandate

Active

Ended mandates

Nathalie BOUCAU

Director

Ended

Nathalie BOUCAU

Manager

Ended

Xavier OPSOMMER

Director

Ended

Xavier OPSOMMER

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates15/04/2024
MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Registered office01/04/2016
SIEGE SOCIAL
PDF
Mandates06/10/2011
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 202521,3 k €↓
2024
Annual accounts 2024178,4 k €↑
2023
Annual accounts 202341,3 k €↓
2022
Annual accounts 2022139,3 k €↑
2021
Annual accounts 2021117,7 k €↓
2020
Annual accounts 2020211,7 k €↑
2019
Annual accounts 2019161,3 k €↑
2018
Annual accounts 201865,8 k €↑
2017
Annual accounts 2017-3,8 k €↓
2016
Annual accounts 201618,5 k €↓
2015
Annual accounts 201530,2 k €↓
2014
Annual accounts 201462,9 k €↑
2013
Annual accounts 201314 k €↓
2012
Annual accounts 201276,1 k €↑
2011
Annual accounts 201149 k €↑
2010
Annual accounts 201013 k €↓
2009
Annual accounts 200954,8 k €↑
2008
Annual accounts 200831,8 k €↑
2007
Annual accounts 200716,3 k €↓
2006
Annual accounts 200623,3 k €
24/04/2002
IncorporationPrivate 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

MILCYCLE

Overview

What does MILCYCLE 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