ACTIVE

CORTEX HOLDING

Financial year 2025 · Closed on 31/12/2025

Net result4,6 M €-62,7 %over 1 year

Equity20,4 M €+28,8 %over 1 year

Identity

Source · BCE/KBO

CORTEX HOLDING is a Public limited company incorporated in 2014. Its main activity is: Gambling and betting activities. Its registered office is in Liège.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0555.947.679
Incorporation: 14/07/2014
Legal form: Public limited company
Registered office: Rue des Guillemins 129
4000 Liège · WallonieSee on map
Contributed capital: 6 710 870,00 €
Latest accounts: 31/12/2025

Activities (NACE)

92000Gambling and betting activities· main

Contacts

2 public details availableLog in to view

Signals

ProfitableSolid equityLow riskPositive cashflow

Financials

Source · NBB, 15 filings

Trend over 10 financial years

	2025		2024		2022		2021		2020
Income statement
Gross margin	–		–		–		–		–
EBITDA	-351,9 k €	-4924%	-7 k €	+97.2%	-251,8 k €	-113%	-118,3 k €	-74.8%	-67,7 k €
Operating result	-351,9 k €	-4924%	-7 k €	+97.2%	-251,8 k €	-113%	-118,3 k €	-74.8%	-67,7 k €
Net result	4,6 M €	-62.7%	12,2 M €	+4675%	-267 k €	-110%	-127,2 k €	+6.4%	-135,9 k €
Balance sheet
Equity	20,4 M €	+28.8%	15,8 M €	+165%	6 M €	-0.9%	6 M €	-2.1%	6,2 M €
Total assets	24,3 M €	+53.7%	15,8 M €	+9.6%	14,5 M €	+19.1%	12,1 M €	+83.8%	6,6 M €
Cash	137,7 k €	-67.0%	417,4 k €	+227%	127,6 k €	+888%	12,9 k €	-86.8%	97,8 k €
Debts	3,9 M €	+1151104%	342,6 €	-100.0%	8,5 M €	+38.8%	6,1 M €	+1288%	440 k €

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
EMMANUEL MEWISSEN	Chairman of the board of directors11/07/2014 → 13/07/2026Managing director11/07/2014 → 2021 accountsended
Nicolas LEONARD	Managing director11/07/2014 → 13/07/2026
Sylvain BONIVER	Managing director11/07/2014 → 13/07/2026

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Gérard EL ALLAF	Director11/07/2014 → 10/07/2020
Jean-Christophe CHOFFRAY	Director11/07/2014 → 10/07/2020
Victor-Léopold BOSQUIN	Chairman of the board of directors11/07/2014 → 2022 accounts

Other companies at this address

Rue des Guillemins 129 4000 Liège

Company	CBE no.
ALLIN1● Active	1009.334.983
ARDENT BETTING● Active	0459.573.924
ARDENT CASINO INTERNATIONAL● Active	0700.809.954
BIGB GAMING● Active	0779.530.008
CIRCUS BELGIUM● Active	0451.000.609
CIRCUS SERVICES● Active	0864.036.507
EURO 78● Active	0423.111.426
Fondation Privée FOUNDATION1● Active	0788.196.759
FOUNDATION ALLIN1● Active	1009.343.594
GAMBLING MANAGEMENT● Active	0859.984.677
GAMBLING REAL ESTATE● Active	0700.808.271
GAMES SERVICES● Active	0423.669.076
GAMING ARDENT● Active	0667.768.487
HQ1● Active	0738.871.467
IP Trade● Active	0473.113.837
LUCKY BET● Active	0843.750.342
Meuse Bidco● Active	0778.683.336
Meuse Finco● Active	0778.734.311
Meuse Midco● Active	0778.513.684
NAMUR CASINO RESORT● Active	0654.871.150

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	26/06/2025	01/07/2024	20/03/2024	26/08/2022	31/08/2021
General meeting	04/06/2026	05/06/2025	28/06/2024	01/06/2023	30/06/2022	30/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 15 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	04/06/2026	15/06/2026	French	PDF
Full model	31/12/2024	05/06/2025	26/06/2025	French	PDF
Full model	31/12/2023	28/06/2024	01/07/2024	French	PDF
Full modelCorrection	31/12/2022	01/06/2023	20/03/2024	French	PDF
Full modelCorrection	31/12/2022	01/06/2023	26/01/2024	French	PDF
Full model	31/12/2022	01/06/2023	19/07/2023	French	PDF
Full model	31/12/2021	30/06/2022	26/08/2022	French	PDF
Consolidated accounts	31/12/2021	30/06/2022	26/08/2022	French	PDF
Full model	31/12/2020	30/06/2021	31/08/2021	French	PDF
Consolidated accounts	31/12/2020	01/01/9999	31/08/2021	French	PDF
Abridged model	31/12/2019	03/07/2020	06/10/2020	French	PDF
Abridged model	31/12/2018	06/06/2019	31/08/2019	French	PDF
Micro model	30/06/2017	18/09/2017	13/03/2018	French	PDF
Abridged model	30/06/2016	19/09/2016	31/10/2016	French	PDF
Abridged model	30/06/2015	16/12/2015	29/01/2016	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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

3 active · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
EMMANUEL MEWISSEN	Chairman of the board of directors11/07/2014 → 13/07/2026Managing director11/07/2014 → 2021 accountsended
Nicolas LEONARD	Managing director11/07/2014 → 13/07/2026
Sylvain BONIVER	Managing director11/07/2014 → 13/07/2026

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Gérard EL ALLAF	Director11/07/2014 → 10/07/2020
Jean-Christophe CHOFFRAY	Director11/07/2014 → 10/07/2020
Victor-Léopold BOSQUIN	Chairman of the board of directors11/07/2014 → 2022 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates31/08/2026
Nomination d'un administrateur
PDF
Other17/08/2026
Renouvellement du mandat des délégués à la gestion journalière et du
PDF
Restructuring23/07/2026
FUSION INTRACOMMUNAUTAIRE PAR ABSORPTION DE LA SOCIETE DE
PDF
Mandates17/07/2026
Renouvellement du mandat du commissaire et d'administrateurs
PDF
Other11/05/2026
DIVERS
PDF
Restructuring02/04/2026
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates05/01/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates22/08/2022
DEMISSIONS, NOMINATIONS
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings10 filings

Mandates

EMMANUEL MEWISSEN

Sylvain BONIVER

Nicolas LEONARD

Victor-Léopold BOSQUIN

Jean-Christophe CHOFFRAY

Gérard EL ALLAF

2014201520162017201820192020202120222023202420252026

CORTEX HOLDING

Rue des Guillemins 129, 4000 Liège

Chairman of the board of directorsManaging director

Managing director

Chairman of the board of directorsDirector

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Rue des Guillemins 129, 4000 LiègeCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00172607

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
CORTEX HOLDINGCurrent	accounts 2015 → 2025	Accounts 2025 · 2026-00172607

Events

2025
Annual accounts 20254,6 M €↓
2024
Annual accounts 202412,2 M €↑
2022
Annual accounts 2022-267 k €↓
2021
Annual accounts 2021-127,2 k €↑
2020
Annual accounts 2020-135,9 k €↓
2019
Annual accounts 2019-103,5 k €↓
2018
Annual accounts 2018-21,7 k €↑
2017
Annual accounts 2017-36,9 k €↓
2016
Annual accounts 2016-28,9 k €↓
2015
Annual accounts 2015-6,6 k €
14/07/2014
IncorporationPublic limited company

CORTEX HOLDING

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events