ACTIVE

PUBMARKET

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Financial year 2025 · closed on 31/12/2025

Net result

84,9 k €

-14.4% YoY

Gross margin

3 M €

-3.3% YoY

Equity

681 k €

+0.7% YoY

Workforce

34,8 ETP

0.0% YoY

What does PUBMARKET do?

PUBMARKET is a Public limited company incorporated in 2003. Its main activity is: Advertising agencies. Its registered office is in Hasselt. It employs on average 34,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0480.045.971

Incorporation

16/04/2003

Legal form

Public limited company

Registered office

Lindekensveldstraat 7
3510 Hasselt · FlandreSee on map

Contributed capital

149 500,00 €

Latest accounts

31/12/2025

Average workforce

34,8 ETP

Activities (NACE)

73110Advertising agencies· main 73110Advertising agencies 74401Other professional, scientific and technical activities

Signals

ProfitablePositive 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	3 M €	-3.3%	3,1 M €	-0.6%	3,1 M €	+0.6%	3,1 M €	-4.2%	3,2 M €	+8.2%	3 M €	-3.9%	3,1 M €	+0.1%	3,1 M €	+16.3%	2,7 M €	+4.3%	2,5 M €	-7.0%	2,7 M €	-5.7%	2,9 M €	-3.0%	3 M €	+45.8%	2,1 M €	+18.4%	1,7 M €	+9.6%	1,6 M €	-0.0%	1,6 M €	+8.6%	1,5 M €	+17.9%	1,2 M €	+49.3%	828,3 k €
EBITDA	218,3 k €	+3.9%	210,1 k €	-22.7%	271,8 k €	+120%	123,3 k €	-52.9%	261,5 k €	-16.2%	312,1 k €	-10.3%	348,2 k €	-47.8%	667,1 k €	+103%	328,1 k €	-1.0%	331,2 k €	+44.3%	229,5 k €	-31.6%	335,3 k €	-55.0%	745 k €	+236%	221,9 k €	+3.5%	214,5 k €	+9.6%	195,6 k €	+10.9%	176,4 k €	-5.6%	186,9 k €	+19.4%	156,6 k €	+39.9%	112 k €
Operating result	140,7 k €	+4.7%	134,4 k €	+3.0%	130,5 k €	+3117%	-4,3 k €	-103%	133,4 k €	-23.7%	174,8 k €	-18.2%	213,8 k €	-58.6%	516,8 k €	+200%	172,4 k €	+6.5%	161,9 k €	+84.2%	87,9 k €	-48.2%	169,5 k €	-73.0%	628,9 k €	+676%	81,1 k €	+24.9%	64,9 k €	-8.9%	71,2 k €	+27.0%	56 k €	-40.7%	94,6 k €	+37.3%	68,9 k €	+40.8%	48,9 k €
Net result	84,9 k €	-14.4%	99,3 k €	+15.4%	86,1 k €	+93.4%	44,5 k €	-46.6%	83,3 k €	-27.3%	114,5 k €	-32.0%	168,3 k €	-60.9%	430,1 k €	+259%	119,8 k €	+2.9%	116,4 k €	+664%	15,2 k €	-74.8%	60,6 k €	-83.7%	372,7 k €	+1024%	33,2 k €	+150%	13,3 k €	+64.0%	8,1 k €	+49.3%	5,4 k €	-79.4%	26,3 k €	-10.1%	29,3 k €	+14.2%	25,6 k €
Balance sheet
Equity	681 k €	+0.7%	676,1 k €	+1.4%	666,8 k €	+0.9%	660,8 k €	+3.9%	636,3 k €	+0.5%	633 k €	+2.3%	618,5 k €	+3.1%	600,2 k €	+27.7%	470,1 k €	+4.4%	450,3 k €	+3.8%	433,9 k €	+3.6%	418,7 k €	+84.0%	227,6 k €	+13.8%	199,9 k €	+19.9%	166,8 k €	+8.7%	153,5 k €	+5.6%	145,4 k €	+3.9%	140 k €	+23.2%	113,6 k €	+34.7%	84,4 k €
Total assets	2,7 M €	-14.4%	3,2 M €	-7.2%	3,4 M €	+13.8%	3 M €	-22.1%	3,9 M €	+4.5%	3,7 M €	+1.3%	3,7 M €	-7.8%	4 M €	+19.5%	3,3 M €	+2.9%	3,2 M €	+23.7%	2,6 M €	-11.9%	3 M €	-6.1%	3,2 M €	+22.4%	2,6 M €	+29.1%	2 M €	+2.1%	2 M €	+9.9%	1,8 M €	+31.7%	1,4 M €	+10.0%	1,2 M €	+13.2%	1,1 M €
Cash	449,5 k €	-26.3%	610,4 k €	-3.3%	631,1 k €	+34.1%	470,6 k €	-45.3%	859,8 k €	+18.2%	727,2 k €	-10.6%	813,6 k €	+20.2%	677 k €	-28.9%	952,3 k €	+25.9%	756,3 k €	+110%	359,4 k €	-42.9%	629,3 k €	-32.5%	932,8 k €	+22.2%	763,4 k €	+63.2%	467,9 k €	+13.4%	412,6 k €	+11.6%	369,9 k €	+83.6%	201,4 k €	-4.3%	210,5 k €	-20.1%	263,4 k €
Debts	2 M €	-8.5%	2,2 M €	-14.8%	2,6 M €	+11.3%	2,4 M €	-23.2%	3,1 M €	+9.1%	2,8 M €	-1.9%	2,9 M €	+0.2%	2,9 M €	+6.7%	2,7 M €	+9.3%	2,5 M €	+16.0%	2,1 M €	-14.2%	2,5 M €	-9.1%	2,7 M €	+18.5%	2,3 M €	+30.1%	1,8 M €	+2.2%	1,7 M €	+8.1%	1,6 M €	+31.5%	1,2 M €	+15.9%	1 M €	+4.4%	1 M €
Other
Workforce	34,8 ETP	0.0%	34,8 ETP	0.0%	34,8 ETP	-16.7%	41,8 ETP	-6.9%	44,9 ETP	+7.4%	41,8 ETP	+2.5%	40,8 ETP	+7.4%	38,0 ETP	+3.5%	36,7 ETP	+2.5%	35,8 ETP	-10.5%	40,0 ETP	-4.1%	41,7 ETP	+9.2%	38,2 ETP	+18.3%	32,3 ETP	+18.7%	27,2 ETP	+0.4%	27,1 ETP	-4.9%	28,5 ETP	+8.4%	26,3 ETP	+30.8%	20,1 ETP	+22.6%	16,4 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 · 2 active · 14 ended

Active mandates

BRECOM

Managing director · since 20 novembre 2015 · 0633.501.654

Represented by Breels Dorien

Active

FUTURSIMPLE

Director · since 20 novembre 2015 · 0633.813.638

Represented by Breels Jean Pierre

Active

Ended mandates

BRECOM

Director · since 20 novembre 2015 · until 20 novembre 2021 · 0633.501.654

Represented by Dorien Breels

Ended

BRECOM

Director · since 20 novembre 2015 · 0633.501.654

Represented by Breels DORIEN

Ended

BRECOM

Managing director · since 20 novembre 2015 · until 20 novembre 2021 · 0633.501.654

Represented by Dorien Breels

Ended

BRECOM

Director · since 20 novembre 2015 · until 20 novembre 2021 · 0633.501.654

Represented by Dorien Breels

Ended

At this address

Other companies at this address

Company	CBE no.
BREELS MANAGEMENT SERVICES● Active	0466.787.754
BREPUB● Active	0549.985.248
ENTREVEST● Active	1005.234.754

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	15/06/2026	27/06/2025	04/07/2024	05/07/2023	14/06/2022	15/06/2021
General meeting	11/06/2026	12/06/2025	13/06/2024	22/06/2023	09/06/2022	10/06/2021
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

23 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	11/06/2026	15/06/2026	Dutch	PDF
Abridged model	31/12/2024	12/06/2025	27/06/2025	Dutch	PDF
Abridged model	31/12/2023	13/06/2024	04/07/2024	Dutch	PDF
Abridged model	31/12/2022	22/06/2023	05/07/2023	Dutch	PDF
Abridged model	31/12/2021	09/06/2022	14/06/2022	Dutch	PDF
Abridged model	31/12/2020	10/06/2021	15/06/2021	Dutch	PDF
Abridged model	31/12/2019	16/07/2020	13/08/2020	Dutch	PDF
Abridged model	31/12/2018	13/06/2019	26/06/2019	Dutch	PDF
Abridged model	31/12/2017	14/06/2018	01/08/2018	Dutch	PDF
Abridged modelCorrection	31/12/2016	08/06/2017	27/04/2018	Dutch	PDF
Abridged model	31/12/2016	08/06/2017	29/06/2017	Dutch	PDF
Abridged model	31/12/2015	09/06/2016	20/06/2016	Dutch	PDF
Abridged model	31/12/2014	11/06/2015	07/07/2015	Dutch	PDF
Abridged model	31/12/2013	04/04/2014	14/04/2014	Dutch	PDF
Abridged model	31/12/2012	13/06/2013	24/06/2013	Dutch	PDF
Abridged model	31/12/2011	14/06/2012	19/06/2012	Dutch	PDF
Abridged model	31/12/2010	09/06/2011	05/08/2011	Dutch	PDF
Abridged model	31/12/2009	10/06/2010	23/07/2010	Dutch	PDF
Abridged model	31/12/2008	11/06/2009	18/08/2009	Dutch	PDF
Abridged model	31/12/2007	12/06/2008	29/08/2008	Dutch	PDF
Abridged model	31/12/2006	14/06/2007	14/08/2007	Dutch	PDF
Abridged model	31/12/2005	08/06/2006	05/07/2006	Dutch	PDF
Abridged model	31/12/2003	10/06/2004	02/07/2004	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 · 2 active · 14 ended

Active mandates

BRECOM

Managing director · since 20 novembre 2015 · 0633.501.654

Represented by Breels Dorien

Active

FUTURSIMPLE

Director · since 20 novembre 2015 · 0633.813.638

Represented by Breels Jean Pierre

Active

Ended mandates

BRECOM

Director · since 20 novembre 2015 · until 20 novembre 2021 · 0633.501.654

Represented by Dorien Breels

Ended

BRECOM

Director · since 20 novembre 2015 · 0633.501.654

Represented by Breels DORIEN

Ended

BRECOM

Managing director · since 20 novembre 2015 · until 20 novembre 2021 · 0633.501.654

Represented by Dorien Breels

Ended

BRECOM

Director · since 20 novembre 2015 · until 20 novembre 2021 · 0633.501.654

Represented by Dorien Breels

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/08/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/07/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/01/2016
DOEL - ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
PDF
Mandates16/10/2015
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares11/06/2014
KAPITAAL - AANDELEN
PDF
Registered office02/12/2008
MAATSCHAPPELIJKE ZETEL
PDF
Other25/04/2003
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 202584,9 k €↓
2024
Annual accounts 202499,3 k €↑
2023
Annual accounts 202386,1 k €↑
2022
Annual accounts 202244,5 k €↓
2021
Annual accounts 202183,3 k €↓
2020
Annual accounts 2020114,5 k €↓
2019
Annual accounts 2019168,3 k €↓
2018
Annual accounts 2018430,1 k €↑
2017
Annual accounts 2017119,8 k €↑
2016
Annual accounts 2016116,4 k €↑
2015
Annual accounts 201515,2 k €↓
2014
Annual accounts 201460,6 k €↓
2013
Annual accounts 2013372,7 k €↑
2012
Annual accounts 201233,2 k €↑
2011
Annual accounts 201113,3 k €↑
2010
Annual accounts 20108,1 k €↑
2009
Annual accounts 20095,4 k €↓
2008
Annual accounts 200826,3 k €↓
2007
Annual accounts 200729,3 k €↑
2006
Annual accounts 200625,6 k €
16/04/2003
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

PUBMARKET

Overview

What does PUBMARKET 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