ACTIVE

ALPHAR HEUSY

Export PDF

Financial year 2025 · Closed on 31/12/2025

Net result539,4 k €+3 329,9 %over 1 year

Gross margin802,7 k €+1 471,7 %over 1 year

Equity4,5 M €+13,6 %over 1 year

Workforce0,0 ETP

Identity

Source · BCE/KBO

ALPHAR HEUSY is a Public limited company incorporated in 2002. Its main activity is: Management consultancy activities. Its registered office is in Chaudfontaine.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0478.219.304
Incorporation: 28/08/2002
Legal form: Public limited company
Registered office: Rue des Chèvrefeuilles 16
4052 Chaudfontaine · WallonieSee on map
Contributed capital: 250 000,00 €
Latest accounts: 31/12/2025
Average workforce: 0,0 ETP

Activities (NACE)

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

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

Financials

Source · NBB, 20 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	802,7 k €	+1472%	51,1 k €	+94.1%	26,3 k €	-40.1%	43,9 k €	-85.6%	304,3 k €
EBITDA	787,3 k €	+2188%	34,4 k €	+456%	6,2 k €	-84.7%	40,5 k €	-86.1%	291,2 k €
Operating result	731 k €	+6195%	-12 k €	+63.1%	-32,5 k €	-398%	-6,5 k €	-103%	245,9 k €
Net result	539,4 k €	+3330%	-16,7 k €	+60.7%	-42,5 k €	-110%	417,6 k €	+162%	159,7 k €
Balance sheet
Equity	4,5 M €	+13.6%	4 M €	-8.5%	4,3 M €	-1.0%	4,4 M €	+10.5%	4 M €
Total assets	4,9 M €	+16.6%	4,2 M €	-8.5%	4,6 M €	-2.9%	4,7 M €	+9.2%	4,3 M €
Cash	1,1 M €	-26.3%	1,4 M €	-9.4%	1,6 M €	+5.7%	1,5 M €	+249%	429,4 k €
Debts	187,5 k €	-7.1%	202 k €	-9.9%	224,2 k €	-29.9%	319,7 k €	-5.8%	339,5 k €
Other
Workforce	0,0 ETP		–		–		–		–

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 5 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Jean-Luc MURI	Managing director02/03/2015 → 08/05/2026Director01/09/2009 → 2014 accountsended
Karin VAN LINTHOUT	Director01/04/2014 → 08/05/2026Chairman of the board of directors30/06/2008 → 2009 accountsendedManaging director23/08/2002 → 2014 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Cédric MURI	Director30/09/2018 → 2019 accounts
Sarah MURI	Director08/03/2018 → 2019 accounts

Other companies at this address

Rue des Chèvrefeuilles 16 4052 Chaudfontaine

Company	CBE no.
Compagnie Commerciale de Distribution Africaine● Active	0506.668.711
MANAGEMENT ASSOCIATES INTERNATIONAL● Active	0442.665.042

Full financial information

Source · NBB

	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	17/03/2026	28/04/2025	18/03/2024	16/05/2023	25/05/2022	22/06/2021
General meeting	17/03/2026	18/04/2025	12/03/2024	16/05/2023	15/04/2022	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

Financial ratios

Source · NBB

Looking for more information about this company?

Try for free

Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	17/03/2026	17/03/2026	French	PDF
Abridged model	31/12/2024	18/04/2025	28/04/2025	French	PDF
Abridged model	31/12/2023	12/03/2024	18/03/2024	French	PDF
Abridged model	31/12/2022	16/05/2023	16/05/2023	French	PDF
Abridged model	31/12/2021	15/04/2022	25/05/2022	French	PDF
Abridged model	31/12/2020	31/05/2021	22/06/2021	French	PDF
Abridged model	31/12/2019	20/05/2020	07/08/2020	French	PDF
Abridged model	31/12/2018	19/04/2019	24/07/2019	French	PDF
Abridged model	31/12/2017	30/06/2018	24/08/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	25/08/2017	French	PDF
Abridged model	31/12/2015	30/06/2016	16/08/2016	French	PDF
Abridged model	31/12/2014	25/05/2015	01/06/2015	French	PDF
Abridged model	31/12/2013	20/06/2014	29/09/2014	French	PDF
Abridged model	31/12/2012	30/06/2013	26/08/2013	French	PDF
Abridged model	31/12/2011	15/06/2012	31/08/2012	French	PDF
Abridged model	31/12/2010	29/06/2011	22/07/2011	French	PDF
Full model	31/12/2009	27/06/2010	30/07/2010	French	PDF
Full model	31/12/2008	26/06/2009	28/07/2009	French	PDF
Full model	31/12/2007	30/06/2008	11/07/2008	French	PDF
Full model	31/12/2006	13/10/2007	15/10/2007	French	PDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 5 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Jean-Luc MURI	Managing director02/03/2015 → 08/05/2026Director01/09/2009 → 2014 accountsended
Karin VAN LINTHOUT	Director01/04/2014 → 08/05/2026Chairman of the board of directors30/06/2008 → 2009 accountsendedManaging director23/08/2002 → 2014 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Cédric MURI	Director30/09/2018 → 2019 accounts
Sarah MURI	Director08/03/2018 → 2019 accounts

Ownership and network

Looking for more information about this company?

Try for free

Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates28/05/2026
DEMISSIONS, NOMINATIONS
PDF
Registered office29/07/2025
SIEGE SOCIAL
PDF
Mandates21/01/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates15/10/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates10/06/2020
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates06/11/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates28/05/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates23/06/2015
DEMISSIONS, NOMINATIONS
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings20 filings

Mandates

Jean-Luc MURI

Karin VAN LINTHOUT

Cédric MURI

Sarah MURI

Igaal AZUELOS

ALPHAR PARTNERS sa

Peter VAN ELSLANDER

2002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026

ALPHAR HEUSY

Rue des Chèvrefeuilles 16, 4052 Beaufaysrue des Deux Tilleuls 14, 4652 Xhendelesse

Managing directorDirector

DirectorChairman of the board of directorsManaging director

Director

Chairman of the board of directorsDirector

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Rue des Chèvrefeuilles 16, 4052 BeaufaysCurrent	accounts 2025	Accounts 2025 · 2026-00056590
rue des Deux Tilleuls 14, 4652 Xhendelesse	accounts 2021 → 2024	Accounts 2024 · 2025-00080599

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
ALPHAR HEUSYCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00056590

Events

2025
Annual accounts 2025539,4 k €↑
2024
Annual accounts 2024-16,7 k €↑
2023
Annual accounts 2023-42,5 k €↓
2022
Annual accounts 2022417,6 k €↑
2021
Annual accounts 2021159,7 k €↑
2020
Annual accounts 202030,8 k €↓
2019
Annual accounts 201952,7 k €↓
2018
Annual accounts 2018192,3 k €↑
2017
Annual accounts 201770,3 k €↑
2016
Annual accounts 2016-55,5 k €↓
2015
Annual accounts 20151,8 M €↑
2014
Annual accounts 20141,1 M €↑
2013
Annual accounts 2013-30,2 k €↓
2012
Annual accounts 2012-2 k €↑
2011
Annual accounts 2011-2,6 k €↓
2010
Annual accounts 20104,9 k €↓
2009
Annual accounts 200910,5 k €↓
2008
Annual accounts 200887,7 k €↑
2007
Annual accounts 200776,6 k €↑
2006
Annual accounts 200669,4 k €
28/08/2002
IncorporationPublic limited company

ALPHAR HEUSY

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events