ACTIVE

Happy Volcano

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Financial year 2025 · closed on 31/12/2025

Net result

-37,6 k €

+93.6% YoY

Gross margin

432,1 k €

+91.1% YoY

Equity

802,3 k €

-4.5% YoY

Workforce

2,0 ETP

-55.6% YoY

What does Happy Volcano do?

Happy Volcano is a Private limited company incorporated in 2015. Its main activity is: Computer programming activities. Its registered office is in Leuven. It employs on average 2,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0638.852.391

Incorporation

25/09/2015

Legal form

Private limited company

Registered office

Sluisstraat 79
3000 Leuven · FlandreSee on map

Contributed capital

1 818 600,12 €

Latest accounts

31/12/2025

Average workforce

2,0 ETP

Activities (NACE)

62010Computer programming activities· main 62100Computer programming, consultancy and related activities 62020Computer consultancy activities 62200Computer programming, consultancy and related activities 72109Research and experimental development on natural sciences and engineering 72190Other research and experimental development on natural sciences and engineering

Joint committees (2)

Contacts

2 public details availableLog in to view

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 10 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016
Income statement
Gross margin	432,1 k €	+91.1%	226,2 k €	+147%	-477,7 k €	-125%	1,9 M €	+368%	412,4 k €	+351%	91,3 k €	+56.2%	58,5 k €	+61.4%	36,2 k €	+114%	17 k €	-41.5%	29 k €
EBITDA	341,1 k €	+1334%	-27,6 k €	+97.0%	-930,9 k €	-162%	1,5 M €	+622%	207,9 k €	+3297%	6,1 k €	-49.1%	12 k €	-43.4%	21,3 k €	+158%	8,2 k €	-71.5%	28,9 k €
Operating result	-6,5 k €	+98.9%	-612,1 k €	+60.4%	-1,5 M €	-239%	1,1 M €	+697%	139 k €	+10885%	1,3 k €	-84.9%	8,4 k €	-53.2%	17,9 k €	+301%	4,5 k €	-82.4%	25,4 k €
Net result	-37,6 k €	+93.6%	-591,5 k €	+62.6%	-1,6 M €	-254%	1 M €	+673%	132,5 k €	+33187%	398 €	-93.2%	5,9 k €	-48.1%	11,4 k €	+252%	3,2 k €	-79.5%	15,8 k €
Balance sheet
Equity	802,3 k €	-4.5%	839,9 k €	-41.3%	1,4 M €	-52.5%	3 M €	+51.5%	2 M €	+3499%	55,2 k €	+0.7%	54,8 k €	+12.0%	48,9 k €	+30.2%	37,6 k €	+85.5%	20,3 k €
Total assets	951,5 k €	+0.3%	948,4 k €	-40.1%	1,6 M €	-52.6%	3,3 M €	+59.8%	2,1 M €	+939%	201 k €	+44.1%	139,5 k €	+46.4%	95,2 k €	+15.5%	82,5 k €	-12.9%	94,7 k €
Cash	257,6 k €	-21.7%	328,9 k €	-40.8%	556 k €	-68.1%	1,7 M €	+7.7%	1,6 M €	+1231%	121,7 k €	+23.5%	98,5 k €	+109%	47 k €	-37.2%	74,9 k €	+1.8%	73,6 k €
Debts	149,2 k €	+37.5%	108,5 k €	-28.5%	151,8 k €	-53.4%	325,6 k €	+224%	100,6 k €	+5.8%	95,1 k €	+12.3%	84,6 k €	+82.8%	46,3 k €	+3.1%	44,9 k €	+41.3%	31,8 k €
Other
Workforce	2,0 ETP	-55.6%	4,5 ETP	-50.0%	9,0 ETP	+1.1%	8,9 ETP		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 13 ended

Active mandates

Willig Jason Howard

Director · since 31 juillet 2024

Active

David Prinsmel

Director · since 10 mars 2021

Active

Jeroen Janssen

Managing director · since 10 mars 2021

Active

Peter Maasen

Director · since 10 mars 2021

Active

Ended mandates

Cherry Freeman

Director · since 10 mars 2021 · until 31 juillet 2024

Ended

Cherry Louise Freeman

Director · since 10 mars 2021

Ended

David Christof PRINSMEL

Director · since 10 mars 2021

Ended

Jeroen JANSSEN

Director · since 10 mars 2021

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged 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	10/09/2026	19/08/2025	22/07/2024	05/07/2023	30/08/2022	06/10/2021
General meeting	26/08/2026	10/06/2025	28/06/2024	13/06/2023	14/06/2022	08/06/2021
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

12 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/08/2026	10/09/2026	Dutch	PDF
Abridged model	31/12/2025	26/08/2026	28/08/2026	English	PDF
Abridged model	31/12/2024	10/06/2025	19/08/2025	Dutch	PDF
Abridged model	31/12/2024	10/06/2025	30/07/2025	English	PDF
Abridged model	31/12/2023	28/06/2024	22/07/2024	Dutch	PDF
Abridged model	31/12/2022	13/06/2023	05/07/2023	Dutch	PDF
Micro model	31/12/2021	14/06/2022	30/08/2022	Dutch	PDF
Micro model	31/12/2020	08/06/2021	06/10/2021	Dutch	PDF
Micro model	31/12/2019	23/03/2020	22/04/2020	Dutch	PDF
Micro model	31/12/2018	29/05/2019	25/06/2019	Dutch	PDF
Micro model	31/12/2017	02/03/2018	22/03/2018	Dutch	PDF
Abridged model	31/12/2016	23/03/2017	21/04/2017	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 · 4 active · 13 ended

Active mandates

Willig Jason Howard

Director · since 31 juillet 2024

Active

David Prinsmel

Director · since 10 mars 2021

Active

Jeroen Janssen

Managing director · since 10 mars 2021

Active

Peter Maasen

Director · since 10 mars 2021

Active

Ended mandates

Cherry Freeman

Director · since 10 mars 2021 · until 31 juillet 2024

Ended

Cherry Louise Freeman

Director · since 10 mars 2021

Ended

David Christof PRINSMEL

Director · since 10 mars 2021

Ended

Jeroen JANSSEN

Director · since 10 mars 2021

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Registered office16/03/2022
MAATSCHAPPELIJKE ZETEL
PDF
Mandates26/04/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/03/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Registered office29/11/2019
MAATSCHAPPELIJKE ZETEL
PDF
Mandates26/01/2017
MAATSCHAPPELIJKE ZETEL - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Other06/10/2015
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 2025-37,6 k €↑
2024
Annual accounts 2024-591,5 k €↑
2023
Annual accounts 2023-1,6 M €↓
2022
Annual accounts 20221 M €↑
2021
Annual accounts 2021132,5 k €↑
2020
Annual accounts 2020398 €↓
2019
Annual accounts 20195,9 k €↓
2018
Annual accounts 201811,4 k €↑
2017
Annual accounts 20173,2 k €↓
2016
Annual accounts 201615,8 k €
25/09/2015
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

Happy Volcano

Overview

What does Happy Volcano do?

Trend over 10 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