ACTIVE

BSTOR

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Financial year 2025 · closed on 31/12/2025

Net result

4,7 M €

+108.3% YoY

Revenue

9,6 M €

+100.1% YoY

Equity

22,4 M €

+141.3% YoY

Workforce

9,9 ETP

+57.1% YoY

What does BSTOR do?

BSTOR is a Public limited company incorporated in 2016. Its main activity is: Engineering activities and related technical consultancy. Its registered office is in Auderghem. It employs on average 9,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0648.717.687

Incorporation

16/02/2016

Legal form

Public limited company

Registered office

Avenue Herrmann-Debroux 42
1160 Auderghem · BruxellesSee on map

Contributed capital

16 603 097,49 €

Latest accounts

31/12/2025

Average workforce

9,9 ETP

Activities (NACE)

71121Engineering activities and related technical consultancy· main 71121Engineering activities and related technical consultancy 72109Research and experimental development on natural sciences and engineering 72190Other research and experimental development on natural sciences and engineering 72101Research and experimental development on natural sciences and engineering 72110Research and experimental development on biotechnology

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 8 financial years

	2025		2024		2023		2022		2021		2019		2018		2017
Income statement
Revenue	9,6 M €	+100%	4,8 M €	+338%	1,1 M €	+118%	498,6 k €		–		–		263,9 k €	+35.9%	194,2 k €
EBITDA	5 M €	+217%	1,6 M €	+251%	-1 M €	-123%	-465,1 k €	-167%	-174,3 k €	-116%	-80,9 k €	+70.4%	-273,2 k €	+32.2%	-402,6 k €
Operating result	4,9 M €	+222%	1,5 M €	+247%	-1 M €	-123%	-468,5 k €	-168%	-175 k €	-116%	-80,9 k €	+70.4%	-273,2 k €	+32.3%	-403,6 k €
Net result	4,7 M €	+108%	2,3 M €	+2210%	97,8 k €	+124%	-413,4 k €	-192%	-141,4 k €	-67.6%	-84,3 k €	+67.6%	-260,5 k €	+39.4%	-429,8 k €
Balance sheet
Equity	22,4 M €	+141%	9,3 M €	+161%	3,6 M €	+2.8%	3,5 M €	+163%	1,3 M €	+419%	254 k €	+140%	-628,3 k €	-70.8%	-367,8 k €
Total assets	58,5 M €	+95.4%	30 M €	+281%	7,9 M €	+51.3%	5,2 M €	+124%	2,3 M €	+571%	345,6 k €	+23.4%	280,1 k €	+174%	102,4 k €
Cash	3,2 M €	-30.0%	4,6 M €	+12.4%	4,1 M €	+500%	686,4 k €	+1193%	53,1 k €	-80.9%	278,6 k €		–		–
Debts	34,5 M €	+70.3%	20,3 M €	+374%	4,3 M €	+157%	1,7 M €	+78.0%	933,5 k €	+922%	91,4 k €	-89.8%	896,8 k €	+102%	444,9 k €
Other
Workforce	9,9 ETP	+57.1%	6,3 ETP	+50.0%	4,2 ETP	+90.9%	2,2 ETP	+69.2%	1,3 ETP	+30.0%	1,0 ETP	0.0%	1,0 ETP	-16.7%	1,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 18 ended

Active mandates

ETHAN

Director · since 15 mai 2025 · until 18 mai 2028 · 0847.084.271

Represented by Daniel Dobbeni

Active

WE Environnement

Director · since 16 mai 2024 · until 20 mai 2027 · 0426.516.918

Represented by Olivier Bouchat

Active

MSQ

Director · since 27 novembre 2023 · until 20 mai 2027 · 0700.413.046

Represented by Fabien DE JONGE

Active

BEWATT

Director · since 31 mars 2022 · until 20 mai 2027 · 0892.258.161

Represented by Bruno Vanderschueren

Active

Koen Janssen

Director · since 31 mars 2022 · until 20 mai 2027

Active

SPARAXIS

Director · since 31 mars 2022 · until 20 mai 2027 · 0452.116.307

Represented by Régis VANKERKHOVE

Active

Ended mandates

ETHAN

Director · since 19 mai 2023 · until 15 mai 2025 · 0847.084.271

Represented by Daniel DOBBENI

Ended

SAMANDA

Director · since 31 mars 2022 · until 16 mai 2024 · 0480.028.848

Represented by Olivier Bouchat

Ended

SAMANDA

Director · since 31 mars 2022 · until 20 mai 2027 · 0480.028.848

Represented by Bouchat OLIVIER

Ended

ST CONSULT

Director · since 31 mars 2022 · until 20 mai 2027 · 0821.500.324

Represented by Steve Theunissen

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full 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	22/05/2026	23/05/2025	15/06/2024	23/05/2023	09/06/2022	21/05/2021
General meeting	21/05/2026	15/05/2025	16/05/2024	19/05/2023	26/05/2022	20/05/2021
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

9 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	21/05/2026	22/05/2026	Dutch	PDF
Full model	31/12/2024	15/05/2025	23/05/2025	Dutch	PDF
Full model	31/12/2023	16/05/2024	15/06/2024	Dutch	PDF
Full model	31/12/2022	19/05/2023	23/05/2023	Dutch	PDF
Abridged model	31/12/2021	26/05/2022	09/06/2022	Dutch	PDF
Abridged model	31/12/2020	20/05/2021	21/05/2021	Dutch	PDF
Abridged model	31/12/2019	15/06/2020	30/06/2020	Dutch	PDF
Full model	31/12/2018	29/03/2019	24/04/2019	Dutch	PDF
Full model	31/12/2017	29/06/2018	31/07/2018	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 · 6 active · 18 ended

Active mandates

ETHAN

Director · since 15 mai 2025 · until 18 mai 2028 · 0847.084.271

Represented by Daniel Dobbeni

Active

WE Environnement

Director · since 16 mai 2024 · until 20 mai 2027 · 0426.516.918

Represented by Olivier Bouchat

Active

MSQ

Director · since 27 novembre 2023 · until 20 mai 2027 · 0700.413.046

Represented by Fabien DE JONGE

Active

BEWATT

Director · since 31 mars 2022 · until 20 mai 2027 · 0892.258.161

Represented by Bruno Vanderschueren

Active

Koen Janssen

Director · since 31 mars 2022 · until 20 mai 2027

Active

SPARAXIS

Director · since 31 mars 2022 · until 20 mai 2027 · 0452.116.307

Represented by Régis VANKERKHOVE

Active

Ended mandates

ETHAN

Director · since 19 mai 2023 · until 15 mai 2025 · 0847.084.271

Represented by Daniel DOBBENI

Ended

SAMANDA

Director · since 31 mars 2022 · until 16 mai 2024 · 0480.028.848

Represented by Olivier Bouchat

Ended

SAMANDA

Director · since 31 mars 2022 · until 20 mai 2027 · 0480.028.848

Represented by Bouchat OLIVIER

Ended

ST CONSULT

Director · since 31 mars 2022 · until 20 mai 2027 · 0821.500.324

Represented by Steve Theunissen

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates06/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares08/10/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates21/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/07/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/06/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/04/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING - MAATSCHAPPELIJKE ZETEL - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/10/2020
ONTSLAGEN - BENOEMINGEN
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 20254,7 M €↑
14/04/2025
nominationBMP Consult BV — lid van het Executief Comité
14/04/2025
nominationLutis SRL — lid van het Executief Comité
14/04/2025
nominationAtsilo Consulting SRL — lid van het Executief Comité
2024
Annual accounts 20242,3 M €↑
01/10/2024
augmentation_capital
16/05/2024
nominationWE Environnement SA — bestuurder
2023
Annual accounts 202397,8 k €↑
27/11/2023
nominationMSQ BV — bestuurder
19/05/2023
nominationDaniel DOBBENI — onafhankelijke bestuurder
19/05/2023
nominationBen Vandeweyer — commissaris
19/05/2023
nominationHannes Poelmans — commissaris
2022
Annual accounts 2022-413,4 k €↓
16/04/2022
nominationBPM Consult BV — personen belast met het dagelijks bestuur (Managing Director)
16/04/2022
nominationLutis SRL — personen belast met het dagelijks bestuur (Managing Director)
01/01/2022
nominationBen Vandeweyer — vaste vertegenwoordiger commissaris
01/01/2022
nominationHannes Poelmans — vaste vertegenwoordiger commissaris
2021
Annual accounts 2021-141,4 k €↓
2019
Annual accounts 2019-84,3 k €↑
2018
Annual accounts 2018-260,5 k €↑
2017
Annual accounts 2017-429,8 k €
16/02/2016
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

BSTOR

Overview

What does BSTOR do?

Trend over 8 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