ACTIVE

BIO-SOURCING

Financial year 2025 · Closed on 31/12/2025

Net result-1,2 M €-2 309,8 %over 1 year
Gross margin1,6 M €-34,2 %over 1 year
Equity894,8 k €+10,0 %over 1 year
Workforce17,3 ETP+28,1 %over 1 year

Identity

Source · BCE/KBO

BIO-SOURCING is a Public limited company incorporated in 2014. Its main activity is: Research and experimental development on natural sciences and engineering. Its registered office is in Liège. It employs on average 17,3 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0554.840.790
Incorporation
27/06/2014
Legal form
Public limited company
Registered office
Boulevard du Rectorat 27 B box Bat. B22
4000 Liège · WallonieSee on map
Contributed capital
94 239,59 €
Latest accounts
31/12/2025
Average workforce
17,3 ETP
Joint committees (2)
  • 116
  • 207
Signals
Good liquidityHealthy social debts

Financials

Source · NBB, 14 filings

Trend over 11 financial years

20252024202320222021
Income statement
Gross margin1,6 M €2,4 M €1,9 M €1 M €682 k €
EBITDA-522,4 k €836,3 k €811,2 k €12,1 k €-4,7 k €
Operating result-1,1 M €-65,9 k €-277,4 k €-112,9 k €-110,5 k €
Net result-1,2 M €-48,6 k €-219,3 k €-138,8 k €-122,3 k €
Balance sheet
Equity894,8 k €813,5 k €401,1 k €620,4 k €759,2 k €
Total assets6,6 M €5,8 M €4,3 M €4 M €5,9 M €
Cash2 M €4,2 M €3,3 M €2 M €4,1 M €
Debts5,4 M €3,7 M €2,6 M €948,5 k €1 M €
Other
Workforce17,3 ETP13,5 ETP11,4 ETP9,7 ETP7,9 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

9 active · 38 ended

Active mandates

Quentin JANSSENS DE VAREBEKE

Director · since 05 décembre 2025 · until 01 mai 2030

Active
BMANAGEMENT

Managing director · since 23 juin 2025 · until 01 mai 2030 · 0566.958.268

Represented by Bertrand MEROT

Active
BNP PARIBAS ASSET MANAGEMENT Real Assets Belgium

Director · since 23 juin 2025 · until 19 juin 2026 · 0466.770.631

Represented by KAZANDJIAN Rafi

Active
Eric MAREE

Director · since 23 juin 2025 · until 01 mai 2030

Active
Michel GOLDMAN

Director · since 23 juin 2025 · until 01 mai 2030

Active
Michel HELBIG DE BALZAC

Director · since 23 juin 2025 · until 01 mai 2030

Active
NOSHAQ PARTNERS

Director · since 23 juin 2025 · until 01 mai 2030 · 0808.219.836

Represented by Amel TOUNSI

Active
Philippe JANSSENS DE VAREBEKE

Director · since 23 juin 2025 · until 05 décembre 2025

Active
EQUITY GESTION SAS

Director · since 24 juin 2021 · until 23 juin 2025

Represented by Raffy KAZANDJIAN

Active

Ended mandates

Michel Goldman

Director · since 04 mai 2022 · until 07 mai 2025

Ended
Michel Goldman

Director · since 04 mai 2022 · until 23 juin 2025

Ended
BMANAGEMENT

Managing director · since 24 juin 2021 · until 07 mai 2025 · 0566.958.268

Represented by Bertrand MEROT

Ended
BMANAGEMENT

Managing director · since 24 juin 2021 · until 23 juin 2025 · 0566.958.268

Represented by Bertrand MEROT

Ended

Other companies at this address

Boulevard du Rectorat 27 B 4000 Liège
CompanyCBE no.
1030.602.729

Full financial information

Source · NBB
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 date15/07/202601/07/202504/07/202404/07/202314/07/202208/07/2021
General meeting19/06/202623/06/202526/06/202403/05/202304/05/202224/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 14 filings
ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202519/06/202615/07/2026FrenchPDF
Abridged model31/12/202423/06/202501/07/2025FrenchPDF
Abridged model31/12/202326/06/202404/07/2024FrenchPDF
Abridged model31/12/202203/05/202304/07/2023FrenchPDF
Abridged model31/12/202104/05/202214/07/2022FrenchPDF
Abridged model31/12/202024/06/202108/07/2021FrenchPDF
Abridged modelCorrection31/12/201906/05/202023/09/2020FrenchPDF
Abridged model31/12/201906/05/202027/08/2020FrenchPDF
Abridged modelCorrection31/12/201802/05/201920/04/2020FrenchPDF
Abridged model31/12/201802/05/201910/07/2019FrenchPDF
Abridged model31/12/201702/05/201810/07/2018FrenchPDF
Abridged model31/12/201622/05/201704/07/2017FrenchPDF
Abridged model31/12/201504/05/201630/06/2016FrenchPDF
Abridged model31/12/201421/05/201524/08/2015FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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

9 active · 38 ended

Active mandates

Quentin JANSSENS DE VAREBEKE

Director · since 05 décembre 2025 · until 01 mai 2030

Active
BMANAGEMENT

Managing director · since 23 juin 2025 · until 01 mai 2030 · 0566.958.268

Represented by Bertrand MEROT

Active
BNP PARIBAS ASSET MANAGEMENT Real Assets Belgium

Director · since 23 juin 2025 · until 19 juin 2026 · 0466.770.631

Represented by KAZANDJIAN Rafi

Active
Eric MAREE

Director · since 23 juin 2025 · until 01 mai 2030

Active
Michel GOLDMAN

Director · since 23 juin 2025 · until 01 mai 2030

Active
Michel HELBIG DE BALZAC

Director · since 23 juin 2025 · until 01 mai 2030

Active
NOSHAQ PARTNERS

Director · since 23 juin 2025 · until 01 mai 2030 · 0808.219.836

Represented by Amel TOUNSI

Active
Philippe JANSSENS DE VAREBEKE

Director · since 23 juin 2025 · until 05 décembre 2025

Active
EQUITY GESTION SAS

Director · since 24 juin 2021 · until 23 juin 2025

Represented by Raffy KAZANDJIAN

Active

Ended mandates

Michel Goldman

Director · since 04 mai 2022 · until 07 mai 2025

Ended
Michel Goldman

Director · since 04 mai 2022 · until 23 juin 2025

Ended
BMANAGEMENT

Managing director · since 24 juin 2021 · until 07 mai 2025 · 0566.958.268

Represented by Bertrand MEROT

Ended
BMANAGEMENT

Managing director · since 24 juin 2021 · until 23 juin 2025 · 0566.958.268

Represented by Bertrand MEROT

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates14/07/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Restructuring09/12/2025
    CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Restructuring15/10/2025
    RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Mandates11/02/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates19/12/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Registered office24/12/2021
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - SIEGE SOCIAL - OBJET
    PDF
  • Mandates25/08/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Capital / shares23/06/2021
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - CAPITAL, ACTIONS
    PDF

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 2025-1,2 M €↓
  2. 2024
    Annual accounts 2024-48,6 k €↑
  3. 2023
    Annual accounts 2023-219,3 k €↓
  4. 2022
    Annual accounts 2022-138,8 k €↓
  5. 2021
    Annual accounts 2021-122,3 k €↓
  6. 2020
    Annual accounts 2020-28,9 k €↑
  7. 2019
    Annual accounts 2019-1,1 M €↑
  8. 2018
    Annual accounts 2018-1,4 M €↓
  9. 2017
    Annual accounts 2017-1,2 M €↑
  10. 2016
    Annual accounts 2016-1,2 M €↓
  11. 2015
    Annual accounts 2015-878,8 k €
  12. 27/06/2014
    IncorporationPublic limited company