ACTIVE

NEFRECO

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Financial year 2025 · closed on 31/12/2025
Net result
489,1 k €
-45.1% YoY
Gross margin
132,8 k €
-3.9% YoY
Equity
4,1 M €
+13.4% YoY

What does NEFRECO do?

NEFRECO is a Public limited company incorporated in 2002. Its main activity is: Management consultancy activities. Its registered office is in Waregem.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0478.768.937
Incorporation
13/11/2002
Legal form
Public limited company
Registered office
Vredestraat 49 box 1
8790 Waregem · FlandreSee on map
Contributed capital
461 500,00 €
Latest accounts
31/12/2025
Activities (NACE)
70200Management consultancy activities· main70220Business and other management consultancy activities74142Specialised design activities
Signals
ProfitableSolid equityLow riskPositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 7 financial years

2025202420232022202120202019
Income statement
Gross margin132,8 k €138,2 k €129,1 k €146,2 k €111,8 k €99,1 k €156 k €
EBITDA122,3 k €127,9 k €119,2 k €136,7 k €102,8 k €90 k €147,5 k €
Operating result66,6 k €72,6 k €63,9 k €81,3 k €47,5 k €34,7 k €17,5 k €
Net result489,1 k €890,4 k €1 M €1,3 M €896,6 k €363,3 k €393,2 k €
Balance sheet
Equity4,1 M €3,7 M €3,2 M €2,9 M €2,5 M €2,2 M €2,4 M €
Total assets4,9 M €5 M €5,8 M €5,1 M €6,7 M €4,5 M €4,5 M €
Cash14,5 k €31,9 k €46,9 k €32 k €1,6 M €60,9 k €81,3 k €
Debts755,2 k €1,3 M €2,6 M €2,2 M €4,3 M €2,2 M €2,2 M €
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 · 2 active · 2 ended

Active mandates

BALUHOLD

Managing director · since 30 janvier 2019 · 0716.656.190

Represented by Frederik Constandt

Active
SUFINA

Director · since 30 janvier 2019 · 0436.303.030

Represented by Jochen Moortgat

Active

Ended mandates

BALUHOLD

Director · since 30 janvier 2019 · 0716.656.190

Represented by Frederik Constandt

Ended
Sufina Management nv

Director · since 30 janvier 2019 · 0842.129.254

Represented by Jochen Moortgat

Ended
At this address

Other companies at this address

CompanyCBE no.
ABRIM● Active
0458.304.511
Astrix● Active
0432.308.313
BALUHOLD● Active
0716.656.190
BLUECAP HOLDING● Active
0880.427.032
Deelvereniging van mede-eigenaars Waregem Business Park Gebouw A● Active
0655.985.561
DG²● Active
0699.791.751
EDEN DEVELOPMENTS● Active
0895.025.829
Pintohold● Active
0808.063.745
SUFINA● Active
0436.303.030
SUKAF● Active
0452.681.974
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date24/06/202630/06/202501/07/202425/08/202305/08/202227/07/2021
General meeting05/06/202606/06/202514/06/202402/06/202303/06/202205/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

7 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202505/06/202624/06/2026DutchPDF
Abridged model31/12/202406/06/202530/06/2025DutchPDF
Abridged model31/12/202314/06/202401/07/2024DutchPDF
Abridged model31/12/202202/06/202325/08/2023DutchPDF
Abridged model31/12/202103/06/202205/08/2022DutchPDF
Abridged model31/12/202005/06/202127/07/2021DutchPDF
Micro model31/12/201906/06/202010/07/2020DutchPDF
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 · 2 active · 2 ended

Active mandates

BALUHOLD

Managing director · since 30 janvier 2019 · 0716.656.190

Represented by Frederik Constandt

Active
SUFINA

Director · since 30 janvier 2019 · 0436.303.030

Represented by Jochen Moortgat

Active

Ended mandates

BALUHOLD

Director · since 30 janvier 2019 · 0716.656.190

Represented by Frederik Constandt

Ended
Sufina Management nv

Director · since 30 janvier 2019 · 0842.129.254

Represented by Jochen Moortgat

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Restructuring28/01/2022
    KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Restructuring24/11/2021
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Mandates22/11/2021
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office04/07/2019
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates20/02/2019
    MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates23/01/2019
    KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM
    PDF
  • Capital / shares15/09/2017
    KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Capital / shares16/07/2015
    KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    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

Timeline

  1. 2025
    Annual accounts 2025489,1 k €↓
  2. 2024
    Annual accounts 2024890,4 k €↓
  3. 2023
    Annual accounts 20231 M €↓
  4. 2022
    Annual accounts 20221,3 M €↑
  5. 2021
    Annual accounts 2021896,6 k €↑
  6. 2020
    Annual accounts 2020363,3 k €↓
  7. 2019
    Annual accounts 2019393,2 k €
  8. 13/11/2002
    IncorporationPublic limited company