ACTIVE

CHADES

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Financial year 2025 · closed on 31/12/2025

Net result

-6,4 k €

-177.1% YoY

Gross margin

347,2 k €

-3.0% YoY

Equity

149,3 k €

-5.1% YoY

Workforce

9,1 ETP

+7.1% YoY

What does CHADES do?

CHADES is a Private limited company incorporated in 2003. Its registered office is in Couvin. It employs on average 9,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0479.732.702

Incorporation

10/03/2003

Legal form

Private limited company

Registered office

Rue du Pont-Pavot, Fra. 24
5660 Couvin · WallonieSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

9,1 ETP

Joint committees (2)

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	347,2 k €	-3.0%	357,9 k €	+20.2%	297,7 k €	+5.4%	282,5 k €	+6.3%	265,9 k €	+11.8%	237,9 k €	+19.9%	198,4 k €	+19.0%	166,6 k €	-3.6%	172,8 k €	-11.4%	195 k €	-3.9%	202,9 k €	+9.6%	185,1 k €	+24.7%	148,4 k €	+23.7%	119,9 k €	+3.5%	115,9 k €	-11.1%	130,4 k €	+4.5%	124,8 k €	+11.3%	112,2 k €	+15.3%	97,3 k €	+13.9%	85,4 k €
EBITDA	21,6 k €	-40.0%	36 k €	+36.2%	26,4 k €	-2.1%	27 k €	-17.7%	32,8 k €	-31.9%	48,2 k €	+1.3%	47,6 k €	+68.6%	28,2 k €	-11.1%	31,7 k €	-56.4%	72,9 k €	+5.9%	68,8 k €	-2.4%	70,5 k €	+39.7%	50,5 k €	+49.8%	33,7 k €	-22.2%	43,3 k €	-23.0%	56,3 k €	+10.2%	51 k €	+22.9%	41,5 k €	-9.2%	45,7 k €	+3.4%	44,2 k €
Operating result	3,5 k €	-85.2%	23,8 k €	+45.6%	16,3 k €	+10.4%	14,8 k €	-18.5%	18,2 k €	-51.0%	37,1 k €	-1.2%	37,5 k €	+78.2%	21,1 k €	+101%	10,5 k €	-78.7%	49,2 k €	+11.2%	44,2 k €	-4.7%	46,4 k €	+96.4%	23,6 k €	+134%	10,1 k €	-49.3%	19,9 k €	-25.3%	26,6 k €	+22.5%	21,7 k €	+55.2%	14 k €	-1.6%	14,2 k €	-0.3%	14,3 k €
Net result	-6,4 k €	-177%	8,3 k €	+122%	3,8 k €	+45.0%	2,6 k €	+212%	-2,3 k €	-112%	20,2 k €	-14.9%	23,7 k €	+107%	11,4 k €	+5817%	-200,2 €	-101%	26,1 k €	+10.5%	23,6 k €	+0.8%	23,4 k €	+123%	10,5 k €	+1333%	732,9 €	-88.2%	6,2 k €	-38.7%	10,1 k €	+73.4%	5,8 k €	+618%	811,4 €	-23.6%	1,1 k €	+13.3%	936,9 €
Balance sheet
Equity	149,3 k €	-5.1%	157,4 k €	+6.8%	147,4 k €	+2.6%	143,6 k €	+1.8%	141 k €	-1.6%	143,4 k €	+16.4%	123,2 k €	+23.8%	99,5 k €	+13.0%	88 k €	-0.2%	88,3 k €	-2.8%	90,8 k €	+32.7%	68,4 k €	+52.0%	45 k €	+30.4%	34,5 k €	+2.2%	33,8 k €	-14.7%	39,6 k €	+24.2%	31,9 k €	+22.4%	26 k €	+3.2%	25,2 k €	+4.4%	24,2 k €
Total assets	309,5 k €	+4.3%	296,7 k €	+9.5%	271,1 k €	-2.2%	277,1 k €	+12.8%	245,6 k €	+5.2%	233,5 k €	+16.6%	200,2 k €	+29.9%	154,2 k €	+1.5%	151,9 k €	-18.5%	186,4 k €	+0.8%	184,9 k €	-1.3%	187,4 k €	-9.4%	206,8 k €	+55.5%	133 k €	-15.1%	156,6 k €	-20.9%	198 k €	-9.2%	218,1 k €	+0.4%	217,3 k €	-8.4%	237,3 k €	-7.0%	255,2 k €
Cash	91,6 k €	-34.0%	138,9 k €	+13.0%	122,9 k €	+4.4%	117,8 k €	-2.9%	121,3 k €	+29.5%	93,7 k €	+13.9%	82,2 k €	+103%	40,6 k €	+43.1%	28,3 k €	-42.0%	48,9 k €	+3.3%	47,3 k €	+27.5%	37,1 k €	+49.9%	24,8 k €	+176%	9 k €	+1.6%	8,8 k €	-70.9%	30,3 k €	+45.7%	20,8 k €	+292%	5,3 k €	-13.1%	6,1 k €	-22.8%	7,9 k €
Debts	160,2 k €	+15.0%	139,3 k €	+12.7%	123,7 k €	-7.3%	133,4 k €	+27.6%	104,5 k €	+16.0%	90,1 k €	+17.0%	77 k €	+40.9%	54,7 k €	-14.4%	63,9 k €	-34.9%	98,2 k €	+4.2%	94,2 k €	-20.9%	119 k €	-26.5%	161,8 k €	+64.3%	98,5 k €	-19.8%	122,8 k €	-22.5%	158,5 k €	-14.9%	186,2 k €	-2.6%	191,3 k €	-9.8%	212,1 k €	-8.2%	231,1 k €
Other
Workforce	9,1 ETP	+7.1%	8,5 ETP		–		–		–		–		–		–		–		–		4,8 ETP	-12.7%	5,5 ETP	+48.6%	3,7 ETP	+19.4%	3,1 ETP	-8.8%	3,4 ETP	+13.3%	3,0 ETP	-3.2%	3,1 ETP	-3.1%	3,2 ETP	+28.0%	2,5 ETP	+13.6%	2,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 4 ended

Active mandates

VAMALYA

Director · since 28 décembre 2023 · 0669.874.674

Active

Maud Machelart

Manager · since 10 avril 2017

Active

Valentin Loudeche

Manager · since 10 avril 2017

Active

Ended mandates

LAURENT CHANTRENNE

Manager

Ended

Maud Machelart

Mandate

Ended

SANDRINE DESTREE

Manager

Ended

Valentin Loudeche

Mandate

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged 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	24/07/2026	11/07/2025	20/06/2024	04/07/2023	25/08/2022	31/08/2021
General meeting	02/05/2026	03/05/2025	04/05/2024	06/05/2023	07/05/2022	03/05/2021
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

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	31/12/2025	02/05/2026	24/07/2026	French	PDF
Abridged model	31/12/2024	03/05/2025	11/07/2025	French	PDF
Micro model	31/12/2023	04/05/2024	20/06/2024	French	PDF
Micro model	31/12/2022	06/05/2023	04/07/2023	French	PDF
Micro model	31/12/2021	07/05/2022	25/08/2022	French	PDF
Micro model	31/12/2020	03/05/2021	31/08/2021	French	PDF
Micro model	31/12/2019	02/05/2020	17/08/2020	French	PDF
Micro model	31/12/2018	04/05/2019	30/08/2019	French	PDF
Micro model	31/12/2017	05/05/2018	09/08/2018	French	PDF
Micro model	31/12/2016	20/03/2017	21/04/2017	French	PDF
Abridged model	31/12/2015	07/05/2016	10/05/2016	French	PDF
Abridged model	31/12/2014	02/05/2015	14/05/2015	French	PDF
Abridged model	31/12/2013	03/05/2014	06/05/2014	French	PDF
Abridged model	31/12/2012	04/05/2013	22/05/2013	French	PDF
Abridged model	31/12/2011	05/05/2012	17/05/2012	French	PDF
Abridged model	31/12/2010	07/05/2011	18/05/2011	French	PDF
Abridged model	31/12/2009	01/05/2010	20/05/2010	French	PDF
Abridged model	31/12/2008	02/05/2009	28/05/2009	French	PDF
Abridged model	31/12/2007	03/05/2008	14/05/2008	French	PDF
Abridged model	31/12/2006	05/05/2007	23/05/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 · 3 active · 4 ended

Active mandates

VAMALYA

Director · since 28 décembre 2023 · 0669.874.674

Active

Maud Machelart

Manager · since 10 avril 2017

Active

Valentin Loudeche

Manager · since 10 avril 2017

Active

Ended mandates

LAURENT CHANTRENNE

Manager

Ended

Maud Machelart

Mandate

Ended

SANDRINE DESTREE

Manager

Ended

Valentin Loudeche

Mandate

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office25/03/2026
SIEGE SOCIAL
PDF
Mandates15/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates12/05/2017
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Other28/06/2013
OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Other16/01/2004
DIVERS
PDF
Other18/03/2003
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 2025-6,4 k €↓
2024
Annual accounts 20248,3 k €↑
2023
Annual accounts 20233,8 k €↑
2022
Annual accounts 20222,6 k €↑
2021
Annual accounts 2021-2,3 k €↓
2020
Annual accounts 202020,2 k €↓
2019
Annual accounts 201923,7 k €↑
2018
Annual accounts 201811,4 k €↑
2017
Annual accounts 2017-200,2 €↓
2016
Annual accounts 201626,1 k €↑
2015
Annual accounts 201523,6 k €↑
2014
Annual accounts 201423,4 k €↑
2013
Annual accounts 201310,5 k €↑
2012
Annual accounts 2012732,9 €↓
2011
Annual accounts 20116,2 k €↓
2010
Annual accounts 201010,1 k €↑
2009
Annual accounts 20095,8 k €↑
2008
Annual accounts 2008811,4 €↓
2007
Annual accounts 20071,1 k €↑
2006
Annual accounts 2006936,9 €
10/03/2003
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

CHADES

Overview

What does CHADES do?

Trend over 20 financial years

Indicative valuation

Board of directors

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