ACTIVE

PHASE 23

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Financial year 2025 · closed on 31/12/2025

Net result

-37,6 k €

-4935.2% YoY

Gross margin

165,7 k €

-19.9% YoY

Equity

1,9 M €

-1.9% YoY

What does PHASE 23 do?

PHASE 23 is a Private limited company incorporated in 2002. Its main activity is: Management consultancy activities. Its registered office is in Keerbergen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0477.986.207

Incorporation

15/07/2002

Legal form

Private limited company

Registered office

Konijnenweg 23
3140 Keerbergen · FlandreSee on map

Contributed capital

647 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities

Joint committees (2)

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	165,7 k €	-19.9%	206,9 k €	+27.2%	162,6 k €	-24.9%	216,6 k €	+15.8%	187 k €	-14.9%	219,7 k €	-7.8%	238,2 k €	-14.5%	278,6 k €	+13.3%	245,8 k €	-16.1%	293 k €	+20.6%	242,8 k €	+10.2%	220,4 k €	-27.6%	304,3 k €	+0.5%	302,7 k €	-34.2%	460 k €	-3.9%	478,5 k €	+6.5%	449,3 k €	-8.2%	489,3 k €
EBITDA	149,7 k €	-21.8%	191,4 k €	+30.2%	147 k €	-27.7%	203,3 k €	+17.2%	173,4 k €	-15.8%	205,9 k €	-9.1%	226,6 k €	-15.4%	267,7 k €	+13.6%	235,6 k €	-16.4%	281,8 k €	+21.5%	231,9 k €	+14.8%	202 k €	-31.7%	295,6 k €	-1.0%	298,5 k €	+124%	133,1 k €	-26.6%	181,4 k €	-0.1%	181,6 k €	-30.6%	261,7 k €
Operating result	-37,7 k €	-587%	7,7 k €	+219%	-6,5 k €	-159%	11 k €	+157%	-19,4 k €	-223%	15,7 k €	-77.6%	70,1 k €	+3.7%	67,6 k €	+52.7%	44,3 k €	-26.4%	60,1 k €	+29.1%	46,6 k €	+125%	20,7 k €	-78.9%	98 k €	-20.4%	123,2 k €	+473%	-33 k €	-128%	117,7 k €	-0.1%	117,8 k €	-40.2%	197,1 k €
Net result	-37,6 k €	-4935%	777,6 €	+106%	-12,3 k €	-3133%	405,2 €	+102%	-25,7 k €	-522%	6,1 k €	-86.1%	43,7 k €	-19.4%	54,2 k €	+108%	26,1 k €	-25.9%	35,2 k €	+49.0%	23,6 k €	-37.8%	37,9 k €	-52.4%	79,8 k €	-11.5%	90,1 k €	-90.4%	939,6 k €	+979%	87,1 k €	+245%	25,2 k €	-78.4%	116,9 k €
Balance sheet
Equity	1,9 M €	-1.9%	1,9 M €	+0.0%	1,9 M €	-0.6%	2 M €	+0.0%	2 M €	+0.5%	2 M €	-3.6%	2 M €	-4.1%	2,1 M €	+2.6%	2,1 M €	+1.3%	2 M €	+1.8%	2 M €	+1.9%	2 M €	+1.5%	1,9 M €	-0.7%	1,9 M €	+4.9%	1,9 M €	+103%	911,8 k €	+10.6%	824,7 k €	+3.2%	799,5 k €
Total assets	2 M €	-2.9%	2,1 M €	-1.0%	2,1 M €	-3.0%	2,2 M €	-0.7%	2,2 M €	-3.5%	2,3 M €	-5.1%	2,4 M €	-6.6%	2,5 M €	-2.5%	2,6 M €	-3.5%	2,7 M €	-6.3%	2,9 M €	+4.6%	2,8 M €	-2.3%	2,8 M €	-2.2%	2,9 M €	-16.3%	3,5 M €	+18.3%	2,9 M €	+62.0%	1,8 M €	+0.3%	1,8 M €
Cash	363,8 k €	+33.6%	272,3 k €	-46.5%	509,1 k €	-0.5%	511,5 k €	+51.3%	338,2 k €	+47.3%	229,6 k €	-25.1%	306,4 k €	+1.2%	302,9 k €	+65.6%	182,9 k €	+85.1%	98,8 k €	-14.3%	115,3 k €	+1961%	5,6 k €	-90.2%	57,3 k €	-91.3%	659,7 k €	-25.8%	888,5 k €	+793%	99,5 k €	-61.0%	254,7 k €	+0.2%	254,3 k €
Debts	28,2 k €	-21.1%	35,7 k €	-10.4%	39,8 k €	-50.3%	80,1 k €	-9.3%	88,3 k €	-31.7%	129,4 k €	-19.9%	161,6 k €	+13.5%	142,4 k €	-40.2%	237,9 k €	-29.0%	335,2 k €	-36.7%	529,9 k €	+26.7%	418,2 k €	-14.4%	488,6 k €	-5.0%	514,4 k €	-55.0%	1,1 M €	-43.0%	2 M €	+106%	975 k €	-2.0%	995,3 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		3,8 ETP	-5.0%	4,0 ETP	0.0%	4,0 ETP	+33.3%	3,0 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 · 1 active · 3 ended

Active mandates

David Goris

Director · since 25 novembre 2019

Active

Ended mandates

David Goris

Director

Ended

David Goris

Administrator - manager

Ended

David Goris

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
Rotary Club Mechelen Opsinjoor,● Active	0668.592.690

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	12/06/2026	02/07/2025	19/06/2024	29/06/2023	13/07/2022	14/07/2021
General meeting	01/06/2026	02/06/2025	03/06/2024	19/06/2023	30/06/2022	30/06/2021
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
Micro model	31/12/2025	01/06/2026	12/06/2026	Dutch	PDF
Micro model	31/12/2024	02/06/2025	02/07/2025	Dutch	PDF
Micro model	31/12/2023	03/06/2024	19/06/2024	Dutch	PDF
Micro model	31/12/2022	19/06/2023	29/06/2023	Dutch	PDF
Micro model	31/12/2021	30/06/2022	13/07/2022	Dutch	PDF
Micro model	31/12/2020	30/06/2021	14/07/2021	Dutch	PDF
Micro model	31/12/2019	24/07/2020	20/08/2020	Dutch	PDF
Micro model	31/12/2018	03/06/2019	24/06/2019	Dutch	PDF
Micro model	31/12/2017	04/06/2018	02/07/2018	Dutch	PDF
Micro model	31/12/2016	06/06/2017	26/06/2017	Dutch	PDF
Abridged model	31/12/2015	06/06/2016	27/06/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	08/06/2015	Dutch	PDF
Abridged model	31/12/2013	02/06/2014	08/07/2014	Dutch	PDF
Abridged model	31/12/2012	03/06/2013	04/07/2013	Dutch	PDF
Abridged model	31/12/2011	04/06/2012	25/06/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	14/06/2011	Dutch	PDF
Abridged model	31/12/2009	07/06/2010	28/06/2010	Dutch	PDF
Abridged model	31/12/2008	01/06/2009	22/06/2009	Dutch	PDF
Abridged model	31/12/2007	02/06/2008	03/07/2008	Dutch	PDF
Abridged model	31/12/2006	04/06/2007	02/07/2007	Dutch	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 · 1 active · 3 ended

Active mandates

David Goris

Director · since 25 novembre 2019

Active

Ended mandates

David Goris

Director

Ended

David Goris

Administrator - manager

Ended

David Goris

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/12/2019
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares17/07/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates06/09/2012
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/12/2011
BENAMING - MAATSCHAPPELIJKE ZETEL - DOEL - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office28/09/2011
MAATSCHAPPELIJKE ZETEL
PDF
Registered office30/10/2006
MAATSCHAPPELIJKE ZETEL - DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ALGEMENE VERGADERING - KAPITAAL - AANDELEN
PDF
Registered office30/08/2005
MAATSCHAPPELIJKE ZETEL
PDF
Mandates31/12/2003
ONTSLAGEN - BENOEMINGEN - BOEKJAAR
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 2025-37,6 k €↓
2024
Annual accounts 2024777,6 €↑
2023
Annual accounts 2023-12,3 k €↓
2022
Annual accounts 2022405,2 €↑
2021
Annual accounts 2021-25,7 k €↓
2020
Annual accounts 20206,1 k €↓
2019
Annual accounts 201943,7 k €↓
2018
Annual accounts 201854,2 k €↑
2017
Annual accounts 201726,1 k €↓
2016
Annual accounts 201635,2 k €↑
2015
Annual accounts 201523,6 k €↓
2014
Annual accounts 201437,9 k €↓
2013
Annual accounts 201379,8 k €↓
2012
Annual accounts 201290,1 k €↓
2011
Annual accounts 2011939,6 k €↑
2011
Name changePHASE 23
2010
Annual accounts 201087,1 k €↑
2009
Annual accounts 200925,2 k €↓
2008
Annual accounts 2008116,9 k €
2008
Name changeXL GRAPHICS
15/07/2002
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

PHASE 23

Overview

What does PHASE 23 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