ACTIVE

Sinari Benelux

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Financial year 2025 · closed on 31/12/2025

Net result

221,2 k €

+27.3% YoY

Gross margin

1,6 M €

-9.9% YoY

Equity

336,8 k €

+191.3% YoY

Workforce

13,0 ETP

-24.9% YoY

What does Sinari Benelux do?

Sinari Benelux is a Public limited company incorporated in 2019. Its main activity is: Computer programming activities. Its registered office is in Ieper. It employs on average 13,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0731.751.469

Incorporation

31/07/2019

Legal form

Public limited company

Registered office

Ter Waarde 50 box 4c
8900 Ieper · FlandreSee on map

Contributed capital

65 343,48 €

Latest accounts

31/12/2025

Average workforce

13,0 ETP

Activities (NACE)

62010Computer programming activities· main 62100Computer programming, consultancy and related activities

Joint committees (2)

200
20000

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 5 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	1,6 M €	-9.9%	1,8 M €	-12.5%	2 M €	-8.1%	2,2 M €	+7.9%	2,1 M €
EBITDA	196,3 k €	+51.4%	129,7 k €	-69.0%	418,7 k €	-46.0%	774,7 k €	+42.7%	543 k €
Operating result	250,7 k €	+85.0%	135,5 k €	-65.7%	395,3 k €	-48.0%	760,3 k €	+45.0%	524,4 k €
Net result	221,2 k €	+27.3%	173,8 k €	-58.6%	419,2 k €	-28.7%	587,8 k €	+54.0%	381,8 k €
Balance sheet
Equity	336,8 k €	+191%	115,6 k €	+25.9%	91,9 k €	+26.5%	72,6 k €	-14.3%	84,8 k €
Total assets	907,5 k €	-8.3%	989,9 k €	-19.8%	1,2 M €	-6.3%	1,3 M €	+12.5%	1,2 M €
Cash	208,8 k €	+171%	77,1 k €	+561%	11,7 k €	-91.0%	129,2 k €	-23.3%	168,4 k €
Debts	570,7 k €	-34.7%	874,3 k €	-23.5%	1,1 M €	-8.2%	1,2 M €	+14.6%	1,1 M €
Other
Workforce	13,0 ETP	-24.9%	17,3 ETP	+6.8%	16,2 ETP	+9.5%	14,8 ETP	-8.1%	16,1 ETP

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 · 2 active · 6 ended

Active mandates

P2O Conseil BO

Director · since 08 janvier 2026 · until 08 janvier 2032

Represented by Pierre Polette

Active

Nicolas Ducourthial

Director · since 14 mai 2025 · until 14 mai 2031

Active

Ended mandates

Sébastien Rufflé

Director · since 14 mai 2025 · until 14 mai 2031

Ended

Financière Porthos SAS

Director · since 22 novembre 2023 · until 22 novembre 2029

Represented by Sébastien RUFFLÉ

Ended

Sinari Invest SAS

Director · since 22 novembre 2023 · until 22 novembre 2029

Represented by David OUARNIER

Ended

Sébastien Ruffle

Managing director · since 03 décembre 2019 · until 04 juin 2024

Ended

At this address

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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	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	31/07/2019
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	18 months
Filing date	24/07/2026	16/06/2025	08/08/2024	31/08/2023	29/08/2022	15/07/2021
General meeting	15/06/2026	10/06/2025	05/07/2024	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

6 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	15/06/2026	24/07/2026	Dutch	PDF
Abridged model	31/12/2024	10/06/2025	16/06/2025	Dutch	PDF
Abridged model	31/12/2023	05/07/2024	08/08/2024	French	PDF
Abridged model	31/12/2022	13/06/2023	31/08/2023	French	PDF
Abridged model	31/12/2021	14/06/2022	29/08/2022	Dutch	PDF
Abridged model	31/12/2020	08/06/2021	15/07/2021	Dutch	PDF

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 · 2 active · 6 ended

Active mandates

P2O Conseil BO

Director · since 08 janvier 2026 · until 08 janvier 2032

Represented by Pierre Polette

Active

Nicolas Ducourthial

Director · since 14 mai 2025 · until 14 mai 2031

Active

Ended mandates

Sébastien Rufflé

Director · since 14 mai 2025 · until 14 mai 2031

Ended

Financière Porthos SAS

Director · since 22 novembre 2023 · until 22 novembre 2029

Represented by Sébastien RUFFLÉ

Ended

Sinari Invest SAS

Director · since 22 novembre 2023 · until 22 novembre 2029

Represented by David OUARNIER

Ended

Sébastien Ruffle

Managing director · since 03 décembre 2019 · until 04 juin 2024

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/08/2026
ONTSLAGEN - BENOEMINGEN
PDF
Registered office18/06/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - MAATSCHAPPELIJKE ZETEL - DIVERSEN
PDF
Mandates16/05/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING - ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/08/2024
ONTSLAGEN - BENOEMINGEN
PDF
Registered office17/02/2020
MAATSCHAPPELIJKE ZETEL
PDF
Mandates03/01/2020
ONTSLAGEN - BENOEMINGEN
PDF
Other02/08/2019
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 2025221,2 k €↑
2024
Annual accounts 2024173,8 k €↓
2024
Name changeSinari Benelux
2023
Annual accounts 2023419,2 k €↓
2022
Annual accounts 2022587,8 k €↑
2021
Annual accounts 2021381,8 k €
2021
Name changeTAS-tms
31/07/2019
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

Sinari Benelux

Overview

What does Sinari Benelux do?

Trend over 5 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