ACTIVE

HAPPY BEES

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Financial year 2025 · closed on 31/12/2025

Net result

408 k €

-25.3% YoY

Revenue

7 M €

-26.9% YoY

Equity

106,3 k €

-54.9% YoY

Workforce

86,5 ETP

-7.6% YoY

What does HAPPY BEES do?

HAPPY BEES is a Public limited company incorporated in 2016. Its registered office is in Liège. It employs on average 86,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0666.412.467

Incorporation

16/11/2016

Legal form

Public limited company

Registered office

Rue Natalis 2
4020 Liège · WallonieSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2025

Average workforce

86,5 ETP

Joint committees (1)

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 8 financial years

	2025		2024		2022		2021		2020		2019		2018		2017
Income statement
Revenue	7 M €	-26.9%	9,6 M €	+114%	4,5 M €	+11.8%	4 M €	+37.7%	2,9 M €	+73.9%	1,7 M €		–		–
EBITDA	558,6 k €	-29.2%	788,9 k €	+94.6%	405,4 k €	+11.7%	362,9 k €	-20.1%	454 k €	+64.5%	276 k €	+167%	103,3 k €	+83.0%	56,5 k €
Operating result	558 k €	-29.2%	788,4 k €	+94.7%	404,9 k €	+11.9%	362 k €	-20.2%	453,4 k €	+64.5%	275,6 k €	+167%	103,3 k €	+83.0%	56,5 k €
Net result	408 k €	-25.3%	546,1 k €	+91.4%	285,4 k €	+23.4%	231,2 k €	-26.7%	315,4 k €	+85.9%	169,7 k €	+138%	71,2 k €	+91.6%	37,2 k €
Balance sheet
Equity	106,3 k €	-54.9%	235,6 k €	+24.3%	189,5 k €	+17.2%	161,7 k €	-51.1%	330,5 k €	+109%	158,1 k €	+375%	33,3 k €	-23.2%	43,4 k €
Total assets	1,5 M €	+5.1%	1,4 M €	+8.6%	1,3 M €	-4.8%	1,4 M €	-11.6%	1,5 M €	+198%	513 k €	+32.9%	386,1 k €	+180%	138,1 k €
Cash	675,1 k €	-21.8%	863,6 k €	+56.2%	552,8 k €	+1006%	50 k €	+150%	20 k €	+140%	8,3 k €	-97.3%	306,7 k €	+522%	49,3 k €
Debts	1,4 M €	+17.2%	1,2 M €	+5.8%	1,1 M €	-7.7%	1,2 M €	-0.7%	1,2 M €	+238%	354,9 k €	+0.6%	352,8 k €	+272%	94,7 k €
Other
Workforce	86,5 ETP	-7.6%	93,6 ETP	+10.8%	84,5 ETP	-5.6%	89,5 ETP	+19.3%	75,0 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 · 3 active · 4 ended

Active mandates

MEGA GROUP INTERNATIONAL SA

Mandate · 0734.648.009

Represented by Thomas Coune

Active

Michael CORHAY

Mandate

Active

Thomas COUNE

Mandate

Active

Ended mandates

Michaël CORHAY

Manager · since 16 novembre 2016

Ended

Thomas COUNE

Manager · since 16 novembre 2016

Ended

Michael Corhay

Manager

Ended

Thomas COUNE

Manager

Ended

At this address

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Annual accounts

Full financial information

	2025	2024	2022	2021	2020	2019
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Micro model
Start of the financial year	01/10/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2025	30/09/2024	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	15 months	21 months	12 months	12 months	12 months	12 months
Filing date	12/05/2026	11/03/2025	04/08/2023	25/06/2022	15/09/2021	09/10/2020
General meeting	17/04/2026	07/03/2025	02/06/2023	16/06/2022	31/08/2021	18/05/2020
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
Abridged model	31/12/2025	17/04/2026	12/05/2026	French	PDF
Abridged model	30/09/2024	07/03/2025	11/03/2025	French	PDF
Abridged modelCorrection	31/12/2022	02/06/2023	04/08/2023	French	PDF
Abridged model	31/12/2022	02/06/2023	24/07/2023	French	PDF
Abridged model	31/12/2021	16/06/2022	25/06/2022	French	PDF
Abridged model	31/12/2020	31/08/2021	15/09/2021	French	PDF
Micro model	31/12/2019	18/05/2020	09/10/2020	French	PDF
Micro model	31/12/2018	20/05/2019	29/08/2019	French	PDF
Micro model	31/12/2017	21/05/2018	31/08/2018	French	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 · 3 active · 4 ended

Active mandates

MEGA GROUP INTERNATIONAL SA

Mandate · 0734.648.009

Represented by Thomas Coune

Active

Michael CORHAY

Mandate

Active

Thomas COUNE

Mandate

Active

Ended mandates

Michaël CORHAY

Manager · since 16 novembre 2016

Ended

Thomas COUNE

Manager · since 16 novembre 2016

Ended

Michael Corhay

Manager

Ended

Thomas COUNE

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates02/09/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Mandates18/04/2024
DEMISSIONS, NOMINATIONS
PDF
Other21/11/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET - ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Mandates29/07/2022
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - MODIFICATION FORME JURIDIQUE
PDF
Mandates10/08/2020
DEMISSIONS, NOMINATIONS
PDF
Other18/11/2016
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 2025408 k €↓
2024
Annual accounts 2024546,1 k €↑
2022
Annual accounts 2022285,4 k €↑
2021
Annual accounts 2021231,2 k €↓
2020
Annual accounts 2020315,4 k €↑
2019
Annual accounts 2019169,7 k €↑
2018
Annual accounts 201871,2 k €↑
2017
Annual accounts 201737,2 k €
16/11/2016
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

HAPPY BEES

Overview

What does HAPPY BEES 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