ACTIVE

AQUALE

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Financial year 2025 · closed on 30/06/2025

Net result

129,4 k €

+31.4% YoY

Gross margin

737,5 k €

+17.7% YoY

Equity

368,3 k €

-41.2% YoY

Workforce

5,3 ETP

-8.6% YoY

What does AQUALE do?

AQUALE is a Private limited company incorporated in 2002. Its registered office is in Namur. It employs on average 5,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0477.877.428

Incorporation

02/07/2002

Legal form

Private limited company

Registered office

Avenue d'Ecolys(RH) 2 box 48
5020 Namur · WallonieSee on map

Contributed capital

20 000,00 €

Latest accounts

30/06/2025

Average workforce

5,3 ETP

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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		2011		2010		2009		2008		2007
Income statement
Gross margin	737,5 k €	+17.7%	626,5 k €	+5.6%	593,3 k €	+15.9%	512 k €	-21.4%	651,5 k €	+6.3%	613 k €	-12.1%	697 k €	-24.6%	924 k €	-18.7%	1,1 M €	-2.2%	1,2 M €	+0.3%	1,2 M €	+25.4%	923,4 k €	-10.2%	1 M €	+18.8%	865,9 k €	+16.7%	741,7 k €	+35.2%	548,8 k €	+13.6%	483,1 k €	+29.8%	372,3 k €	+81.2%	205,5 k €
EBITDA	211,7 k €	+39.5%	151,7 k €	+48.4%	102,3 k €	+23.1%	83,1 k €	+17.6%	70,7 k €	+5.8%	66,8 k €	-44.8%	120,9 k €	+25.7%	96,2 k €	-56.0%	218,7 k €	-30.6%	315,1 k €	-7.5%	340,6 k €	+30.2%	261,6 k €	-51.4%	538,2 k €	+53.3%	351,2 k €	+11.4%	315,2 k €	+62.4%	194,1 k €	+0.1%	193,8 k €	+25.0%	155 k €	+79.1%	86,5 k €
Operating result	177 k €	+38.3%	128 k €	+41.7%	90,3 k €	+31.8%	68,6 k €	+17.5%	58,3 k €	+31.3%	44,4 k €	-47.0%	83,8 k €	+52.5%	55 k €	-57.9%	130,6 k €	-49.1%	256,7 k €	-0.6%	258,2 k €	+40.1%	184,4 k €	-59.1%	450,7 k €	+57.9%	285,5 k €	+13.7%	251 k €	+88.0%	133,5 k €	+0.4%	133,1 k €	+48.2%	89,8 k €	+207%	29,2 k €
Net result	129,4 k €	+31.4%	98,5 k €	+57.2%	62,7 k €	+53.6%	40,8 k €	+4.7%	39 k €	+88.0%	20,7 k €	-58.0%	49,4 k €	+133%	21,2 k €	-69.4%	69,4 k €	-67.3%	212,2 k €	+57.5%	134,7 k €	+65.9%	81,2 k €	-67.3%	248,5 k €	+33.6%	186 k €	+18.7%	156,7 k €	+77.5%	88,3 k €	+9.2%	80,8 k €	+42.5%	56,7 k €	+235%	16,9 k €
Balance sheet
Equity	368,3 k €	-41.2%	626 k €	+13.7%	550,7 k €	+2.7%	536,2 k €	+4.6%	512,6 k €	+1.7%	503,9 k €	-6.2%	537,3 k €	-0.4%	539,5 k €	-8.7%	590,7 k €	+12.9%	523,4 k €	+31.4%	398,3 k €	-7.6%	431,1 k €	+5.6%	408,4 k €	+66.7%	245 k €	+65.2%	148,3 k €	-60.9%	379,3 k €	+53.0%	247,9 k €	+48.4%	167 k €	+53.5%	108,8 k €
Total assets	1 M €	+16.0%	876,3 k €	+10.4%	794 k €	+13.5%	699,5 k €	-0.3%	701,6 k €	-7.9%	762,1 k €	+1.6%	750,3 k €	-11.8%	850,9 k €	-8.8%	933,5 k €	-3.7%	969,7 k €	-11.7%	1,1 M €	-2.3%	1,1 M €	+4.3%	1,1 M €	-1.0%	1,1 M €	+13.0%	963,5 k €	+28.4%	750,6 k €	+36.1%	551,4 k €	+25.0%	441 k €	+9.7%	401,9 k €
Cash	359,6 k €	-12.0%	408,7 k €	+16.1%	352,2 k €	+32.2%	266,4 k €	+48.5%	179,3 k €	-42.7%	313,1 k €	+21.6%	257,5 k €	+224%	79,6 k €	-44.3%	142,9 k €	-21.1%	181 k €	-55.2%	404,2 k €	+16.5%	347 k €	-39.2%	571,2 k €	+26.2%	452,7 k €	-5.8%	480,5 k €	+194%	163,5 k €	+74.8%	93,6 k €	-16.4%	111,9 k €	+290%	28,7 k €
Debts	585 k €	+142%	242,2 k €	+4.0%	232,9 k €	+51.1%	154,1 k €	-15.0%	181,3 k €	-27.1%	248,6 k €	+23.3%	201,7 k €	-25.5%	270,8 k €	-15.4%	320 k €	-16.8%	384,4 k €	-44.2%	688,5 k €	+4.9%	656,6 k €	+14.4%	573,8 k €	-30.6%	826,7 k €	+4.1%	794 k €	+137%	334,5 k €	+15.1%	290,5 k €	+10.1%	263,9 k €	-6.7%	282,8 k €
Other
Workforce	5,3 ETP	-8.6%	5,8 ETP	+3.6%	5,6 ETP	0.0%	5,6 ETP	-31.7%	8,2 ETP	-3.5%	8,5 ETP	-6.6%	9,1 ETP	-20.2%	11,4 ETP	-16.8%	13,7 ETP	+3.8%	13,2 ETP	+0.8%	13,1 ETP	+9.2%	12,0 ETP	+33.3%	9,0 ETP	0.0%	9,0 ETP	0.0%	9,0 ETP	+25.0%	7,2 ETP	+5.9%	6,8 ETP	+41.7%	4,8 ETP	+71.4%	2,8 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 30/06/2025 · 3 active · 3 ended

Active mandates

David GAULE

Director · since 16 avril 2025

Active

Marco RIBONI

Director · since 16 avril 2025

Active

Pierre-Yves BOLLY

Director

Active

Ended mandates

Pierre - Yves BOLLY

Director

Ended

PIerre-Yves BOLLY

Manager

Ended

PIERRE-YVES BOLLY

Mandate

Ended

At this address

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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	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	22/12/2025	05/02/2025	22/02/2024	05/06/2023	31/01/2022	26/02/2021
General meeting	19/12/2025	14/12/2024	09/12/2023	10/12/2022	11/12/2021	12/12/2020
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	30/06/2025	19/12/2025	22/12/2025	French	PDF
Abridged model	30/06/2024	14/12/2024	05/02/2025	French	PDF
Abridged model	30/06/2023	09/12/2023	22/02/2024	French	PDF
Abridged model	30/06/2022	10/12/2022	05/06/2023	French	PDF
Abridged model	30/06/2021	11/12/2021	31/01/2022	French	PDF
Abridged model	30/06/2020	12/12/2020	26/02/2021	French	PDF
Abridged model	30/06/2019	14/12/2019	27/02/2020	French	PDF
Abridged model	30/06/2018	08/12/2018	01/02/2019	French	PDF
Abridged model	30/06/2017	09/12/2017	30/01/2018	French	PDF
Abridged model	30/06/2016	10/12/2016	19/01/2017	French	PDF
Abridged model	30/06/2015	12/12/2015	06/01/2016	French	PDF
Abridged model	30/06/2014	26/02/2015	27/02/2015	French	PDF
Abridged model	30/06/2013	27/02/2014	28/02/2014	French	PDF
Abridged model	30/06/2012	29/03/2013	01/04/2013	French	PDF
Abridged model	30/06/2011	29/05/2012	30/05/2012	French	PDF
Abridged model	30/06/2010	25/03/2011	29/03/2011	French	PDF
Abridged model	30/06/2009	27/04/2010	30/04/2010	French	PDF
Abridged model	30/06/2008	03/01/2009	07/01/2009	French	PDF
Abridged model	30/06/2007	12/03/2008	31/03/2008	French	PDF
Abridged model	30/06/2006	19/01/2007	31/01/2007	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 30/06/2025 · 3 active · 3 ended

Active mandates

David GAULE

Director · since 16 avril 2025

Active

Marco RIBONI

Director · since 16 avril 2025

Active

Pierre-Yves BOLLY

Director

Active

Ended mandates

Pierre - Yves BOLLY

Director

Ended

PIerre-Yves BOLLY

Manager

Ended

PIERRE-YVES BOLLY

Mandate

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates14/05/2025
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates08/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Other24/11/2006
OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - ANNEE COMPTABLE - DIVERS
PDF
Capital / shares02/05/2006
OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - ASSEMBLEE GENERALE - CAPITAL, ACTIONS
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 2025129,4 k €↑
2024
Annual accounts 202498,5 k €↑
2023
Annual accounts 202362,7 k €↑
2022
Annual accounts 202240,8 k €↑
2021
Annual accounts 202139 k €↑
2020
Annual accounts 202020,7 k €↓
2019
Annual accounts 201949,4 k €↑
2018
Annual accounts 201821,2 k €↓
2017
Annual accounts 201769,4 k €↓
2016
Annual accounts 2016212,2 k €↑
2015
Annual accounts 2015134,7 k €↑
2014
Annual accounts 201481,2 k €↓
2013
Annual accounts 2013248,5 k €↑
2012
Annual accounts 2012186 k €↑
2011
Annual accounts 2011156,7 k €↑
2010
Annual accounts 201088,3 k €↑
2009
Annual accounts 200980,8 k €↑
2008
Annual accounts 200856,7 k €↑
2007
Annual accounts 200716,9 k €
02/07/2002
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

AQUALE

Overview

What does AQUALE 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