ACTIVE

Change-Credal Social Innovation Fund

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Financial year 2025 · closed on 31/12/2025
Net result
-40 k €
+5.3% YoY
Gross margin
-56,7 k €
-109.8% YoY
Equity
1,5 M €
-2.6% YoY

What does Change-Credal Social Innovation Fund do?

Change-Credal Social Innovation Fund is a Cooperative society incorporated in 2019. Its registered office is in Ottignies-Louvain-la-Neuve.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0726.777.943
Incorporation
15/05/2019
Legal form
Cooperative society
Registered office
Avenue de Cîteaux 114
1348 Ottignies-Louvain-la-Neuve · WallonieSee on map
Contributed capital
2 077 104,00 €
Latest accounts
31/12/2025
Signals
Solid equityLow riskGood liquidity
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 7 financial years

2025202420232022202120202019
Income statement
Gross margin-56,7 k €576,2 k €-87,8 k €-79,1 k €-49 k €-20,6 k €-3,3 k €
EBITDA-85,9 k €499 k €-88,8 k €-80 k €-49,4 k €-21 k €-3,7 k €
Operating result-56,3 k €287,4 k €-117 k €-80 k €-49,4 k €-21 k €-3,7 k €
Net result-40 k €-42,2 k €-248,8 k €-175,6 k €-45,1 k €-15 k €-3,8 k €
Balance sheet
Equity1,5 M €1,5 M €1,6 M €1,8 M €1,6 M €1 M €621,2 k €
Total assets1,6 M €1,6 M €1,6 M €1,8 M €1,7 M €1 M €623,3 k €
Cash245,3 k €236,2 k €130 k €385,4 k €630,2 k €617,4 k €447,5 k €
Debts52,2 k €15,8 k €2,1 k €1,8 k €45,1 k €17,9 k €2,1 k €
Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 9 ended

Active mandates

Crédal

Chairman of the board of directors · since 26 mai 2023 · until 28 mai 2027 · 0426.769.514

Represented by Sébastien Fosseur

Active
Credal Entreprendre

Director · since 26 mai 2023 · until 28 mai 2027 · 0841.148.366

Represented by Hélène Lhoest

Active
Olivier Gevart

Director · since 26 mai 2023 · until 28 mai 2027

Active
Wauthier de Bassompierre

Director · since 17 juin 2022 · until 29 mai 2026

Active

Ended mandates

Frank Janssen

Director · since 01 septembre 2020 · until 31 mai 2024

Ended
Crédal

Chairman of the board of directors · since 15 mai 2019 · until 26 mai 2023 · 0426.769.514

Represented by Sébastien Fosseur

Ended
Crédal

Chairman of the board of directors · since 15 mai 2019 · until 15 mai 2023 · 0426.769.514

Represented by Isabelle Philippe

Ended
Crédal

Chairman of the board of directors · since 15 mai 2019 · until 26 mai 2023 · 0426.769.514

Represented by Isabelle Philippe

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro modelMicro modelMicro model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date17/06/202625/06/202510/06/202414/06/202307/07/202224/06/2021
General meeting29/05/202606/06/202531/05/202426/05/202317/06/202228/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

7 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model31/12/202529/05/202617/06/2026FrenchPDF
Micro model31/12/202406/06/202525/06/2025FrenchPDF
Micro model31/12/202331/05/202410/06/2024FrenchPDF
Micro model31/12/202226/05/202314/06/2023FrenchPDF
Micro model31/12/202117/06/202207/07/2022FrenchPDF
Micro model31/12/202028/05/202124/06/2021FrenchPDF
Micro model31/12/201901/09/202023/09/2020FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 9 ended

Active mandates

Crédal

Chairman of the board of directors · since 26 mai 2023 · until 28 mai 2027 · 0426.769.514

Represented by Sébastien Fosseur

Active
Credal Entreprendre

Director · since 26 mai 2023 · until 28 mai 2027 · 0841.148.366

Represented by Hélène Lhoest

Active
Olivier Gevart

Director · since 26 mai 2023 · until 28 mai 2027

Active
Wauthier de Bassompierre

Director · since 17 juin 2022 · until 29 mai 2026

Active

Ended mandates

Frank Janssen

Director · since 01 septembre 2020 · until 31 mai 2024

Ended
Crédal

Chairman of the board of directors · since 15 mai 2019 · until 26 mai 2023 · 0426.769.514

Represented by Sébastien Fosseur

Ended
Crédal

Chairman of the board of directors · since 15 mai 2019 · until 15 mai 2023 · 0426.769.514

Represented by Isabelle Philippe

Ended
Crédal

Chairman of the board of directors · since 15 mai 2019 · until 26 mai 2023 · 0426.769.514

Represented by Isabelle Philippe

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates24/05/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Registered office16/04/2024
    SIEGE SOCIAL
    PDF
  • Mandates11/08/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates30/03/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates11/08/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates06/11/2020
    DEMISSIONS, NOMINATIONS
    PDF
  • Other17/05/2019
    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

Timeline

  1. 2025
    Annual accounts 2025-40 k €↑
  2. 2024
    Annual accounts 2024-42,2 k €↑
  3. 2023
    Annual accounts 2023-248,8 k €↓
  4. 2022
    Annual accounts 2022-175,6 k €↓
  5. 2021
    Annual accounts 2021-45,1 k €↓
  6. 2020
    Annual accounts 2020-15 k €↓
  7. 2019
    Annual accounts 2019-3,8 k €
  8. 15/05/2019
    IncorporationCooperative society