ACTIVE

TRANSITIVE MANAGEMENT

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Financial year 2025 · closed on 30/09/2025

Net result

975,8 k €

+51.7% YoY

Gross margin

1,5 M €

+56.2% YoY

Equity

2,6 M €

+58.8% YoY

Workforce

0,7 ETP

What does TRANSITIVE MANAGEMENT do?

TRANSITIVE MANAGEMENT is a Private limited company incorporated in 2009. Its main activity is: Management consultancy activities. Its registered office is in La Hulpe. It employs on average 0,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0811.687.189

Incorporation

07/05/2009

Legal form

Private limited company

Registered office

Rue Emile Semal 40
1310 La Hulpe · WallonieSee on map

Contributed capital

21 000,00 €

Latest accounts

30/09/2025

Average workforce

0,7 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities

Joint committees (1)

Contacts

2 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Gross margin	1,5 M €	+56.2%	974,7 k €	+82.1%	535,3 k €	+124%	239,3 k €	-12.4%	273,3 k €	+38.9%	196,7 k €	-36.2%	308,4 k €	+58.4%	194,7 k €	+499%	32,5 k €	+25.9%	25,8 k €	-82.7%	149,1 k €	-54.3%	326,5 k €	-45.7%	601,7 k €	+150%	241,1 k €	+15.7%	208,3 k €	+12.9%	184,5 k €
EBITDA	1,5 M €	+53.0%	970,4 k €	+82.8%	531 k €	+125%	236,2 k €	-32.2%	348,3 k €	+71.5%	203 k €	-42.7%	354,3 k €	+623%	49 k €	+94.9%	25,1 k €	-70.9%	86,5 k €	+3.3%	83,8 k €	-72.9%	309,7 k €	-48.4%	599,6 k €	+156%	233,9 k €	+15.3%	202,9 k €	+14.1%	177,8 k €
Operating result	1,4 M €	+52.0%	945,1 k €	+86.7%	506,1 k €	+144%	207 k €	-35.8%	322,5 k €	+83.9%	175,3 k €	-45.6%	322,3 k €	+2057%	14,9 k €	+287%	-8 k €	-117%	46 k €	-25.6%	61,8 k €	-78.8%	291,1 k €	-49.8%	580,3 k €	+180%	207,4 k €	+11.6%	185,8 k €	+22.9%	151,1 k €
Net result	975,8 k €	+51.7%	643,2 k €	+126%	285 k €	+311%	69,3 k €	-52.9%	147,1 k €	+101%	73,2 k €	-28.5%	102,4 k €	+1169%	8,1 k €	+216%	-7 k €	-123%	29,9 k €	-26.2%	40,5 k €	-79.7%	199,7 k €	-48.0%	384,1 k €	+176%	139,1 k €	+10.2%	126,3 k €	+40.0%	90,2 k €
Balance sheet
Equity	2,6 M €	+58.8%	1,7 M €	+63.3%	1 M €	+39.0%	731 k €	+10.5%	661,7 k €	+28.6%	514,6 k €	+16.6%	441,4 k €	+30.2%	338,9 k €	+2.4%	330,9 k €	-23.6%	432,8 k €	+7.4%	403 k €	+11.2%	362,5 k €	+37.9%	262,8 k €	+816%	28,7 k €	-80.8%	149,5 k €	+544%	23,2 k €
Total assets	3,2 M €	+63.5%	2 M €	+14.6%	1,7 M €	+71.0%	1 M €	+16.2%	872,9 k €	-5.6%	924,4 k €	-27.7%	1,3 M €	+25.8%	1 M €	+49.3%	681,4 k €	+0.7%	676,6 k €	+2.2%	662 k €	-19.6%	823,6 k €	+0.4%	820 k €	+25.9%	651,1 k €	+51.3%	430,4 k €	+2.3%	420,7 k €
Cash	2,1 M €	+123%	954,8 k €	+4.3%	915,8 k €	+31.7%	695,1 k €	+12.0%	620,6 k €	-12.4%	708,7 k €	-30.6%	1 M €	+48.3%	688,3 k €	+129%	300,8 k €	-23.3%	392,3 k €	-5.3%	414,2 k €	-20.6%	521,6 k €	-19.4%	646,9 k €	+40.6%	460,2 k €	+111%	218,1 k €	+22.3%	178,3 k €
Debts	613,6 k €	+87.3%	327,7 k €	-54.3%	717,7 k €	+153%	283,4 k €	+34.4%	210,9 k €	-35.4%	326,7 k €	-56.2%	745,5 k €	+39.4%	534,6 k €	+52.5%	350,5 k €	+43.8%	243,7 k €	+24.4%	196 k €	-57.5%	461,1 k €	-17.2%	557,2 k €	-10.5%	622,4 k €	+122%	280,9 k €	-29.3%	397,5 k €
Other
Workforce	0,7 ETP		–		–		–		–		–		–		–		–		–		–		–		–		0,1 ETP	0.0%	0,1 ETP		–

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 1 active · 2 ended

Active mandates

Ferdinando Galazzo

Director

Active

Ended mandates

FERDINANDO GALAZZO

Manager

Ended

SYLVIE PINSMAILLE

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Micro model	Abridged model	Abridged model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	20/03/2026	29/04/2025	20/03/2024	22/03/2023	18/03/2022	09/04/2021
General meeting	20/03/2026	21/03/2025	15/03/2024	17/03/2023	18/03/2022	19/03/2021
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

16 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	20/03/2026	20/03/2026	French	PDF
Abridged model	30/09/2024	21/03/2025	29/04/2025	French	PDF
Abridged model	30/09/2023	15/03/2024	20/03/2024	French	PDF
Micro model	30/09/2022	17/03/2023	22/03/2023	French	PDF
Abridged model	30/09/2021	18/03/2022	18/03/2022	French	PDF
Abridged model	30/09/2020	19/03/2021	09/04/2021	French	PDF
Micro model	30/09/2019	20/03/2020	20/03/2020	French	PDF
Micro model	30/09/2018	15/03/2019	03/05/2019	French	PDF
Micro model	30/09/2017	16/03/2018	19/03/2018	French	PDF
Abridged model	30/09/2016	17/03/2017	08/05/2017	French	PDF
Abridged model	30/09/2015	18/03/2016	24/03/2016	French	PDF
Abridged model	30/09/2014	30/03/2015	28/04/2015	French	PDF
Abridged model	30/09/2013	21/03/2014	22/04/2014	French	PDF
Abridged model	30/09/2012	15/03/2013	15/03/2013	French	PDF
Abridged model	30/09/2011	16/03/2012	27/04/2012	French	PDF
Abridged model	30/09/2010	18/03/2011	19/04/2011	French	PDF

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.

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 30/09/2025 · 1 active · 2 ended

Active mandates

Ferdinando Galazzo

Director

Active

Ended mandates

FERDINANDO GALAZZO

Manager

Ended

SYLVIE PINSMAILLE

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates29/03/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - OBJET - DEMISSIONS, NOMINATIONS
PDF
Registered office11/12/2015
SIEGE SOCIAL
PDF
Registered office14/06/2013
SIEGE SOCIAL
PDF
Mandates26/07/2012
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates29/09/2010
ADRESSE AUTRE QUE SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Other22/05/2009
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 2025975,8 k €↑
2024
Annual accounts 2024643,2 k €↑
2023
Annual accounts 2023285 k €↑
2022
Annual accounts 202269,3 k €↓
2021
Annual accounts 2021147,1 k €↑
2020
Annual accounts 202073,2 k €↓
2019
Annual accounts 2019102,4 k €↑
2018
Annual accounts 20188,1 k €↑
2017
Annual accounts 2017-7 k €↓
2016
Annual accounts 201629,9 k €↓
2015
Annual accounts 201540,5 k €↓
2014
Annual accounts 2014199,7 k €↓
2013
Annual accounts 2013384,1 k €↑
2012
Annual accounts 2012139,1 k €↑
2011
Annual accounts 2011126,3 k €↑
2010
Annual accounts 201090,2 k €
07/05/2009
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

TRANSITIVE MANAGEMENT

Overview

What does TRANSITIVE MANAGEMENT do?

Trend over 16 financial years

Indicative valuation

Board of directors

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