ACTIVE

SP Opal

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Financial year 2025 · closed on 31/12/2025

Net result

73,9 M €

-60.6% YoY

Gross margin

73,4 M €

-60.9% YoY

Equity

124,9 M €

-13.6% YoY

Workforce

0,0 ETP

What does SP Opal do?

SP Opal is a Private limited company incorporated in 2019. Its registered office is in Watermael-Boitsfort.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0736.709.753

Incorporation

23/10/2019

Legal form

Private limited company

Registered office

Chaussée de La Hulpe 166 box 25
1170 Watermael-Boitsfort · BruxellesSee on map

Contributed capital

124 929 626,55 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDA

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	73,4 M €	-60.9%	187,6 M €	+503626%	-37,3 k €	-21.5%	-30,7 k €		–
EBITDA	73,4 M €	-60.9%	187,6 M €	+490971%	-38,2 k €	-21.2%	-31,5 k €	+34.2%	-47,9 k €
Operating result	73,4 M €	-60.9%	187,6 M €	+490971%	-38,2 k €	-21.2%	-31,5 k €	+34.2%	-47,9 k €
Net result	73,9 M €	-60.6%	187,6 M €	+411383%	-45,6 k €	-36.5%	-33,4 k €	+31.6%	-48,8 k €
Balance sheet
Equity	124,9 M €	-13.6%	144,6 M €	+0.1%	144,4 M €	-0.0%	144,5 M €	+107%	69,9 M €
Total assets	125,3 M €	-13.5%	144,8 M €	+0.2%	144,6 M €	+0.0%	144,6 M €	+107%	70 M €
Cash	712,9 €	+605%	101,1 €	-60.3%	254,9 €	+773%	29,2 €	-90.5%	306,7 €
Debts	387 k €	+58.7%	243,8 k €	+45.3%	167,8 k €	+37.6%	122 k €	+37.3%	88,8 k €
Other
Workforce	0,0 ETP		0,0 ETP		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 500 M€ and 1.000 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 4 ended

Active mandates

Alessandro Mazzocchetti

Director · since 08 avril 2021

Active

Anthony Lesuisse

Director · since 08 avril 2021

Active

Fabien André Pinckaers

Director · since 08 avril 2021

Active

Johannes Kornelis Jan Sikkens

Director · since 06 novembre 2020

Active

Anthony Clifford CLAVEL

Director · since 23 octobre 2019

Active

Ended mandates

Antony Lesuisse

Director · since 08 avril 2021

Ended

Jean-Marc Sottiaux

Director · since 06 novembre 2020 · until 08 avril 2021

Ended

Jean-Pierre Van Houdt

Director · since 06 novembre 2020 · until 08 avril 2021

Ended

Pragma Business Services

Director · since 06 novembre 2020 · until 08 avril 2021 · 0825.380.324

Represented by Erik Adam

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	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	23/10/2019
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	15 months
Filing date	15/07/2026	08/10/2025	11/07/2024	03/07/2023	01/07/2022	30/06/2021
General meeting	30/06/2026	23/09/2025	28/06/2024	30/06/2023	28/06/2022	17/06/2021
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

7 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	15/07/2026	French	PDF
Abridged modelCorrection	31/12/2024	23/09/2025	08/10/2025	French	PDF
Abridged model	31/12/2024	30/06/2025	14/07/2025	French	PDF
Abridged model	31/12/2023	28/06/2024	11/07/2024	French	PDF
Abridged model	31/12/2022	30/06/2023	03/07/2023	French	PDF
Full model	31/12/2021	28/06/2022	01/07/2022	French	PDF
Full model	31/12/2020	17/06/2021	30/06/2021	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 M€ and 1.000 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 · 5 active · 4 ended

Active mandates

Alessandro Mazzocchetti

Director · since 08 avril 2021

Active

Anthony Lesuisse

Director · since 08 avril 2021

Active

Fabien André Pinckaers

Director · since 08 avril 2021

Active

Johannes Kornelis Jan Sikkens

Director · since 06 novembre 2020

Active

Anthony Clifford CLAVEL

Director · since 23 octobre 2019

Active

Ended mandates

Antony Lesuisse

Director · since 08 avril 2021

Ended

Jean-Marc Sottiaux

Director · since 06 novembre 2020 · until 08 avril 2021

Ended

Jean-Pierre Van Houdt

Director · since 06 novembre 2020 · until 08 avril 2021

Ended

Pragma Business Services

Director · since 06 novembre 2020 · until 08 avril 2021 · 0825.380.324

Represented by Erik Adam

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates20/08/2025
DEMISSIONS, NOMINATIONS
PDF
Other05/05/2022
DIVERS
PDF
Capital / shares27/09/2021
CAPITAL, ACTIONS
PDF
Mandates19/04/2021
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates30/12/2020
DEMISSIONS, NOMINATIONS
PDF
Other04/12/2019
DIVERS
PDF
Other25/10/2019
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

2025
Annual accounts 202573,9 M €↓
2024
Annual accounts 2024187,6 M €↑
28/06/2024
reconductionEY Réviseurs d'Entreprise SRL — commissaire
2023
Annual accounts 2023-45,6 k €↓
2022
Annual accounts 2022-33,4 k €↑
2021
Annual accounts 2021-48,8 k €
23/10/2019
IncorporationPrivate 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

SP Opal

Overview

What does SP Opal 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