ACTIVE

The Spice Factory Group

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Financial year 2025 · Closed on 31/12/2025

Net result13,5 M €+542,7 %over 1 year
Revenue1,2 M €
Equity35 M €+62,4 %over 1 year

Identity

Source · BCE/KBO

The Spice Factory Group is a Public limited company incorporated in 2022. Its main activity is: Activities of holding companies. Its registered office is in Braine-l'Alleud.

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0784.991.702
Incorporation
20/04/2022
Legal form
Public limited company
Registered office
Avenue de l'Industrie 20
1420 Braine-l'Alleud · WallonieSee on map
Contributed capital
24 500 000,00 €
Latest accounts
31/12/2025
Signals
ProfitableSolid equityLow riskPositive cashflowHigh revenue

Financials

Source · NBB, 6 filings

Trend over 4 financial years

2025202420232022
Income statement
Revenue1,2 M €–––
EBITDA-725,2 k €-275,1 k €114,6 k €368 k €
Operating result-725,2 k €-275,1 k €114,6 k €368 k €
Net result13,5 M €-3 M €85,1 k €22,8 k €
Balance sheet
Equity35 M €21,6 M €24,6 M €24,5 M €
Total assets51,2 M €44,7 M €45,6 M €46 M €
Cash58,1 k €6,4 k €22,4 k €7,4 k €
Debts16,2 M €23,1 M €21 M €21,5 M €

Valuation

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 6 ended

Active mandates

Infinite Management

Personne déléguée à la gestion journalière · since 18 mars 2025 · 0680.875.266

Represented by Jorgen de Pelsmaeker

Active
TSF Holding

Director · since 18 mars 2025 · until 30 mai 2031 · 1020.542.443

Represented by David de Peuter

Active

Ended mandates

ELFENBANK

Director · since 20 avril 2022 · until 18 mars 2025 · 0542.994.320

Represented by Davy De Muyer

Ended
ELFENBANK

Director · since 20 avril 2022 · until 26 mai 2027 · 0542.994.320

Represented by Davy De Muyer

Ended
Gilde Equity Management (GEM) Benelux Partners

Director · since 20 avril 2022 · until 18 mars 2025 · 0536.351.602

Represented by Gerhard Herman NORDEMANN

Ended
Gilde Equity Management (GEM) Benelux Partners

Director · since 20 avril 2022 · until 26 mai 2027 · 0536.351.602

Represented by Gerhard Herman NORDEMANN

Ended

Other companies at this address

Avenue de l'Industrie 20 1420 Braine-l'Alleud
CompanyCBE no.
The Spice Factory● Active
0419.907.357
TSF Holding● Active
1020.542.443
TSF Poolco● Active
1022.069.402

Full financial information

Source · NBB
2025202420232022
Type of accountFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202320/04/2022
Closing of the financial year31/12/202531/12/202431/12/202331/12/2022
Length of the financial year12 months12 months12 months9 months
Filing date23/07/202616/07/202512/08/202410/07/2023
General meeting30/06/202630/05/202531/05/202426/05/2023
Currency of the financial yearEUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 6 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202530/06/202623/07/2026FrenchPDF
Full model31/12/202430/05/202516/07/2025FrenchPDF
Consolidated accounts31/12/202427/08/202526/02/2026FrenchPDF
Full model31/12/202331/05/202412/08/2024FrenchPDF
Consolidated accounts31/12/202327/01/202517/03/2025FrenchPDF
Full model31/12/202226/05/202310/07/2023FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 6 ended

Active mandates

Infinite Management

Personne déléguée à la gestion journalière · since 18 mars 2025 · 0680.875.266

Represented by Jorgen de Pelsmaeker

Active
TSF Holding

Director · since 18 mars 2025 · until 30 mai 2031 · 1020.542.443

Represented by David de Peuter

Active

Ended mandates

ELFENBANK

Director · since 20 avril 2022 · until 18 mars 2025 · 0542.994.320

Represented by Davy De Muyer

Ended
ELFENBANK

Director · since 20 avril 2022 · until 26 mai 2027 · 0542.994.320

Represented by Davy De Muyer

Ended
Gilde Equity Management (GEM) Benelux Partners

Director · since 20 avril 2022 · until 18 mars 2025 · 0536.351.602

Represented by Gerhard Herman NORDEMANN

Ended
Gilde Equity Management (GEM) Benelux Partners

Director · since 20 avril 2022 · until 26 mai 2027 · 0536.351.602

Represented by Gerhard Herman NORDEMANN

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates13/01/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Restructuring23/07/2025
    CAPITAL, ACTIONS - ANNEE COMPTABLE - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Restructuring22/05/2025
    RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...) - DIVERS
    PDF
  • Mandates16/05/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates28/03/2025
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates26/05/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates02/02/2023
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - DENOMINATION
    PDF
  • Mandates09/06/2022
    DEMISSIONS, NOMINATIONS
    PDF

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 202513,5 M €↑
  2. 2024
    Annual accounts 2024-3 M €↓
  3. 2023
    Annual accounts 202385,1 k €↑
  4. 2022
    Annual accounts 202222,8 k €
  5. 20/04/2022
    IncorporationPublic limited company