Kumulus Partners
0696.739.023 · rovalta.com · 23/09/2026
ACTIVE
Kumulus Partners
Financial year 2025 · closed on 31/12/2025
Net result
166,8 k €
-91.1% YoY
Gross margin
1,4 M €
-52.4% YoY
Equity
442,1 k €
0.0% YoY
Workforce
11,6 ETP
+11.5% YoY
Overview
What does Kumulus Partners do?
Kumulus Partners is a Public limited company incorporated in 2018. Its main activity is: Other credit granting. Its registered office is in Machelen (Brab.). It employs on average 11,6 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0696.739.023
Incorporation
24/05/2018
Legal form
Public limited company
Registered office
Culliganlaan 2 C
1831 Machelen (Brab.) · FlandreSee on map
1831 Machelen (Brab.) · FlandreSee on map
Contributed capital
400 000,00 €
Latest accounts
31/12/2025
Average workforce
11,6 ETP
Activities (NACE)
64929Other credit granting· main64929Other credit granting66199Other activities auxiliary to financial services, except insurance and pension funding66199Other activities auxiliary to financial services, except insurance and pension funding64999Other financial service activities, except insurance and pension funding n.e.c.64999Other financial service activities, except insurance and pension funding n.e.c.+2
Joint committees (2)
- 200
- 20000
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA
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Financials
Trend over 7 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2019 | 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||
| Gross margin | 1,4 M € | -52.4% | 2,9 M € | +9.0% | 2,6 M € | +71.0% | 1,5 M € | -50.8% | 3,1 M € | +1298% | 222,6 k € | -66.7% | 668 k € |
| EBITDA | 277,1 k € | -86.0% | 2 M € | +1.9% | 1,9 M € | +63.4% | 1,2 M € | -56.4% | 2,7 M € | +1924% | 135,1 k € | -74.2% | 523,3 k € |
| Operating result | 230,8 k € | -88.1% | 1,9 M € | +1.9% | 1,9 M € | +67.5% | 1,1 M € | -58.2% | 2,7 M € | +2054% | 125,9 k € | -75.0% | 503,8 k € |
| Net result | 166,8 k € | -91.1% | 1,9 M € | +1.2% | 1,8 M € | +61.0% | 1,1 M € | -57.1% | 2,7 M € | +2198% | 116,5 k € | -75.7% | 479,2 k € |
| Balance sheet | |||||||||||||
| Equity | 442,1 k € | 0.0% | 442,1 k € | 0.0% | 442,1 k € | 0.0% | 442,1 k € | 0.0% | 442,1 k € | 0.0% | 442,1 k € | +4.3% | 424 k € |
| Total assets | 1,4 M € | -48.0% | 2,6 M € | -48.6% | 5,1 M € | +187% | 1,8 M € | -62.3% | 4,7 M € | +586% | 690,3 k € | -56.3% | 1,6 M € |
| Cash | 488,4 k € | +2.1% | 478,4 k € | -52.4% | 1 M € | +22.7% | 818,8 k € | -75.5% | 3,3 M € | +923% | 327,1 k € | -49.3% | 645 k € |
| Debts | 928,3 k € | -57.7% | 2,2 M € | -53.2% | 4,7 M € | +249% | 1,3 M € | -68.7% | 4,3 M € | +1736% | 233,6 k € | -79.6% | 1,1 M € |
| Other | |||||||||||||
| Workforce | 11,6 ETP | +11.5% | 10,4 ETP | +25.3% | 8,3 ETP | +45.6% | 5,7 ETP | +5.6% | 5,4 ETP | +35.0% | 4,0 ETP | +73.9% | 2,3 ETP |
Estimate
Indicative valuation
As an indication, this company is worth
between 5 M€ and 10 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 6 active · 12 ended
Active mandates
Emmanuel CUKROWICZ
ActiveMarcel GENADRY
ActiveActive
Active
Active
Active
Ended mandates
At this address
Other companies at this address
| Company | CBE no. |
|---|---|
Kumulus Groep● Active | 0712.600.107 |
Financials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Abridged model | Abridged model | Abridged model | Abridged 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 | 22/05/2025 | 16/05/2024 | 01/06/2023 | 10/06/2022 | 30/07/2021 |
| General meeting | 20/05/2026 | 21/05/2025 | 15/05/2024 | 17/05/2023 | 18/05/2022 | 19/05/2021 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
8 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Abridged model | 31/12/2025 | 20/05/2026 | 22/05/2026 | Dutch | |
| Abridged model | 31/12/2024 | 21/05/2025 | 22/05/2025 | Dutch | |
| Abridged model | 31/12/2023 | 15/05/2024 | 16/05/2024 | Dutch | |
| Abridged model | 31/12/2022 | 17/05/2023 | 01/06/2023 | Dutch | |
| Abridged model | 31/12/2021 | 18/05/2022 | 10/06/2022 | Dutch | |
| Abridged model | 31/12/2020 | 19/05/2021 | 30/07/2021 | Dutch | |
| Abridged model | 31/12/2019 | 20/05/2020 | 27/07/2020 | Dutch | |
| Abridged model | 30/06/2019 | 20/11/2019 | 07/01/2020 | Dutch |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 5 M€ and 10 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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 6 active · 12 ended
Active mandates
Emmanuel CUKROWICZ
ActiveMarcel GENADRY
ActiveActive
Active
Active
Active
Ended mandates
Shareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Mandates09/01/2026ONTSLAGEN - BENOEMINGEN
- Mandates19/08/2025ONTSLAGEN - BENOEMINGEN
- Mandates10/10/2019ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - BOEKJAAR
- Registered office24/12/2018MAATSCHAPPELIJKE ZETEL
- Other04/06/2018RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025166,8 k €↓
- 2024Annual accounts 20241,9 M €↑
- 2023Annual accounts 20231,8 M €↑
- 2022Annual accounts 20221,1 M €↓
- 2021Annual accounts 20212,7 M €↑
- 2019Annual accounts 2019116,5 k €↓
- 2019Annual accounts 2019479,2 k €
- 24/05/2018IncorporationPublic limited company