ACTIVE

EXCEL-CASH

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Financial year 2025 · closed on 31/12/2025

Net result

593,2 k €

-3.9% YoY

Gross margin

2 M €

+10.2% YoY

Equity

849,2 k €

-45.4% YoY

Workforce

27,9 ETP

+19.7% YoY

What does EXCEL-CASH do?

EXCEL-CASH is a Public limited company incorporated in 2002. Its main activity is: Retail sale of second-hand goods in stores. Its registered office is in Quaregnon. It employs on average 27,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0478.408.552

Incorporation

25/09/2002

Legal form

Public limited company

Registered office

Rue Jules Destrée 421
7390 Quaregnon · WallonieSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

27,9 ETP

Activities (NACE)

47792Retail sale of second-hand goods in stores· main 47792Retail sale of second-hand goods in stores 52502Warehousing and support activities for transportation 46900Non-specialised wholesale trade 46900Non-specialised wholesale trade 51900Air transport

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

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	2 M €	+10.2%	1,8 M €	+22.5%	1,5 M €	+18.8%	1,2 M €	+22.7%	996,5 k €	+36.8%	728,6 k €	-25.2%	974,1 k €	+11.7%	872 k €	-2.0%	889,8 k €	-5.4%	940,9 k €	+15.0%	817,9 k €	-5.1%	861,8 k €	-9.1%	948,5 k €	+5.4%	899,9 k €	+6.2%	847 k €	+57.7%	537 k €	+28.6%	417,6 k €	+8.8%	384 k €	+2.8%	373,4 k €	+38.1%	270,5 k €
EBITDA	902,3 k €	-4.5%	944,6 k €	+44.6%	653,3 k €	+33.9%	488 k €	+27.2%	383,6 k €	+64.4%	233,3 k €	-29.4%	330,5 k €	+38.7%	238,3 k €	-7.7%	258,1 k €	-24.5%	341,6 k €	+64.6%	207,6 k €	-25.0%	276,6 k €	-26.3%	375,2 k €	-6.1%	399,6 k €	-3.5%	413,9 k €	+120%	188,5 k €	+109%	90,4 k €	-8.3%	98,6 k €	-20.2%	123,6 k €	+154%	48,7 k €
Operating result	828,2 k €	-2.2%	846,6 k €	+49.0%	568,1 k €	+33.8%	424,7 k €	+29.4%	328,3 k €	+82.4%	180 k €	-37.0%	285,9 k €	+56.6%	182,6 k €	-8.1%	198,8 k €	-29.0%	280 k €	+92.6%	145,4 k €	-29.9%	207,3 k €	-31.7%	303,8 k €	-7.9%	329,8 k €	-3.1%	340,3 k €	+328%	79,5 k €	+25.3%	63,5 k €	-14.7%	74,4 k €	-16.3%	88,9 k €	+579%	13,1 k €
Net result	593,2 k €	-3.9%	617 k €	+48.4%	415,8 k €	+31.7%	315,8 k €	+23.2%	256,3 k €	+91.1%	134,1 k €	-32.5%	198,5 k €	+62.1%	122,5 k €	-2.9%	126,2 k €	-33.5%	189,8 k €	+82.6%	103,9 k €	+18.6%	87,6 k €	-55.1%	195,2 k €	-10.7%	218,6 k €	-4.3%	228,3 k €	+302%	56,9 k €	+59.5%	35,6 k €	-8.3%	38,9 k €	-24.4%	51,4 k €	+4627%	1,1 k €
Balance sheet
Equity	849,2 k €	-45.4%	1,6 M €	+65.7%	939 k €	-35.7%	1,5 M €	-1.1%	1,5 M €	+16.2%	1,3 M €	+11.8%	1,1 M €	+13.7%	1 M €	+14.0%	877,8 k €	+16.8%	751,7 k €	+33.8%	561,9 k €	+22.7%	458 k €	+23.7%	370,3 k €	+11.7%	331,4 k €	+5.9%	312,8 k €	+33.4%	234,5 k €	+32.0%	177,6 k €	+25.1%	142 k €	+27.8%	111,1 k €	+71.8%	64,7 k €
Total assets	2,5 M €	+14.2%	2,2 M €	+6.1%	2,1 M €	+6.9%	2 M €	+2.1%	1,9 M €	+21.6%	1,6 M €	+18.6%	1,3 M €	+6.6%	1,2 M €	+2.8%	1,2 M €	+7.8%	1,1 M €	-5.4%	1,2 M €	+26.2%	944,2 k €	-3.4%	977,1 k €	-6.7%	1 M €	+1.4%	1 M €	+36.3%	757,8 k €	+47.0%	515,4 k €	+9.3%	471,7 k €	-1.1%	477,1 k €	+4.0%	458,7 k €
Cash	818,9 k €	+37.4%	595,8 k €	+29.3%	460,9 k €	+13.5%	406,2 k €	-28.2%	565,7 k €	+0.0%	565,4 k €	+52.0%	372 k €	+7.2%	346,9 k €	+7.5%	322,6 k €	+49.9%	215,2 k €	+10.3%	195,1 k €	-26.2%	264,3 k €	-29.8%	376,8 k €	-19.8%	470 k €	+11.7%	420,8 k €	+209%	136,2 k €	-14.5%	159,3 k €	+226%	48,8 k €	-33.0%	72,8 k €	+49.3%	48,8 k €
Debts	1,7 M €	+153%	667,5 k €	-42.3%	1,2 M €	+131%	500,1 k €	+25.4%	398,8 k €	+34.6%	296,2 k €	+65.4%	179,1 k €	-27.9%	248,4 k €	-26.3%	337,1 k €	-10.2%	375,4 k €	-40.4%	629,7 k €	+29.5%	486,2 k €	-19.9%	606,8 k €	-15.2%	716 k €	+0.5%	712,2 k €	+36.1%	523,3 k €	+54.9%	337,8 k €	+2.5%	329,7 k €	-9.9%	366 k €	-7.1%	393,9 k €
Other
Workforce	27,9 ETP	+19.7%	23,3 ETP	0.0%	23,3 ETP	+2.6%	22,7 ETP	+5.6%	21,5 ETP	+2.4%	21,0 ETP		–		20,4 ETP	-1.0%	20,6 ETP	-1.9%	21,0 ETP	-1.9%	21,4 ETP	+20.9%	17,7 ETP	+12.7%	15,7 ETP	+11.3%	14,1 ETP	+28.2%	11,0 ETP	0.0%	11,0 ETP	-6.8%	11,8 ETP	-1.7%	12,0 ETP	-8.4%	13,1 ETP	+11.0%	11,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 12 ended

Active mandates

CHAMAR

Director · since 25 juillet 2018 · 0699.859.255

Represented by BACHELY NICOLAS

Active

LORNA

Director · since 25 juillet 2018 · 0527.948.036

Represented by MARTHOZ CHRISTOPHE

Active

Ended mandates

CHAMAR

Managing director · since 25 juillet 2018 · until 24 mai 2024 · 0699.859.255

Represented by NICOLAS BACHELY

Ended

LORNA

Chairman of the board of directors · since 25 juillet 2018 · until 25 avril 2024 · 0527.948.036

Represented by CHRISTOPHE MARTHOZ

Ended

BD HOLDING

Managing director · since 06 mai 2013 · until 06 mai 2019 · 0527.961.496

Represented by Bernard DESSY

Ended

LORNA

Managing director · since 06 mai 2013 · until 06 mai 2019 · 0527.948.036

Represented by Christophe MARTHOZ

Ended

At this address

Other companies at this address

Company	CBE no.
CASH-CASH● Active	0460.818.888
CASH CHARLEROI● Active	0471.137.017

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	24/06/2026	31/08/2025	30/07/2024	01/09/2023	23/08/2022	31/08/2021
General meeting	30/04/2026	30/06/2025	25/04/2024	27/04/2023	28/04/2022	29/04/2021
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 modelCorrection	31/12/2025	30/04/2026	24/06/2026	French	PDF
Abridged model	31/12/2025	30/04/2026	27/05/2026	French	PDF
Abridged model	31/12/2024	30/06/2025	31/08/2025	French	PDF
Abridged model	31/12/2023	25/04/2024	30/07/2024	French	PDF
Abridged model	31/12/2022	27/04/2023	01/09/2023	French	PDF
Abridged model	31/12/2021	28/04/2022	23/08/2022	French	PDF
Abridged model	31/12/2020	29/04/2021	31/08/2021	French	PDF
Abridged model	31/12/2019	30/04/2020	30/10/2020	French	PDF
Abridged model	31/12/2018	25/04/2019	30/07/2019	French	PDF
Abridged model	31/12/2017	26/04/2018	29/06/2018	French	PDF
Abridged model	31/12/2016	27/04/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	28/04/2016	30/08/2016	French	PDF
Abridged model	31/12/2014	30/04/2015	24/08/2015	French	PDF
Abridged model	31/12/2013	24/04/2014	31/07/2014	French	PDF
Abridged model	31/12/2012	27/03/2013	29/08/2013	French	PDF
Abridged model	31/12/2011	26/04/2012	31/07/2012	French	PDF
Abridged model	31/12/2010	28/04/2011	29/07/2011	French	PDF
Abridged model	31/12/2009	29/04/2010	30/07/2010	French	PDF
Abridged model	31/12/2008	30/04/2009	14/08/2009	French	PDF
Abridged model	31/12/2007	24/04/2008	31/07/2008	French	PDF
Abridged model	31/12/2006	26/04/2007	25/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 2 active · 12 ended

Active mandates

CHAMAR

Director · since 25 juillet 2018 · 0699.859.255

Represented by BACHELY NICOLAS

Active

LORNA

Director · since 25 juillet 2018 · 0527.948.036

Represented by MARTHOZ CHRISTOPHE

Active

Ended mandates

CHAMAR

Managing director · since 25 juillet 2018 · until 24 mai 2024 · 0699.859.255

Represented by NICOLAS BACHELY

Ended

LORNA

Chairman of the board of directors · since 25 juillet 2018 · until 25 avril 2024 · 0527.948.036

Represented by CHRISTOPHE MARTHOZ

Ended

BD HOLDING

Managing director · since 06 mai 2013 · until 06 mai 2019 · 0527.961.496

Represented by Bernard DESSY

Ended

LORNA

Managing director · since 06 mai 2013 · until 06 mai 2019 · 0527.948.036

Represented by Christophe MARTHOZ

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates20/11/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates11/09/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates30/05/2013
DEMISSIONS, NOMINATIONS
PDF
Mandates01/07/2009
DEMISSIONS, NOMINATIONS
PDF
Mandates11/10/2002
DEMISSIONS, NOMINATIONS
PDF
Other02/10/2002
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 2025593,2 k €↓
2024
Annual accounts 2024617 k €↑
2023
Annual accounts 2023415,8 k €↑
2022
Annual accounts 2022315,8 k €↑
2021
Annual accounts 2021256,3 k €↑
2020
Annual accounts 2020134,1 k €↓
2019
Annual accounts 2019198,5 k €↑
2018
Annual accounts 2018122,5 k €↓
2017
Annual accounts 2017126,2 k €↓
2016
Annual accounts 2016189,8 k €↑
2015
Annual accounts 2015103,9 k €↑
2014
Annual accounts 201487,6 k €↓
2013
Annual accounts 2013195,2 k €↓
2012
Annual accounts 2012218,6 k €↓
2011
Annual accounts 2011228,3 k €↑
2010
Annual accounts 201056,9 k €↑
2009
Annual accounts 200935,6 k €↓
2008
Annual accounts 200838,9 k €↓
2007
Annual accounts 200751,4 k €↑
2006
Annual accounts 20061,1 k €
25/09/2002
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

EXCEL-CASH

Overview

What does EXCEL-CASH 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