ACTIVE

Project Brabo 1

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Financial year 2025 · closed on 31/12/2025

Net result

5,4 M €

-0.4% YoY

Revenue

18 M €

+4.4% YoY

Equity

4,6 M €

0.0% YoY

What does Project Brabo 1 do?

Project Brabo 1 is a Public limited company incorporated in 2009. Its main activity is: Construction of railways and underground railways. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0817.559.352

Incorporation

04/08/2009

Legal form

Public limited company

Registered office

Karel Oomsstraat 37
2018 Antwerpen · FlandreSee on map

Contributed capital

4 615 355,00 €

Latest accounts

31/12/2025

Activities (NACE)

42120Construction of railways and underground railways· main 42120Construction of railways and underground railways

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

Health score

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Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Revenue	18 M €	+4.4%	17,2 M €	+0.1%	17,2 M €	-0.7%	17,3 M €	+15.3%	15 M €	+1.8%	14,7 M €	+3.6%	14,2 M €	+3.1%	13,8 M €	-1.1%	14 M €	-4.7%	14,6 M €	-16.3%	17,5 M €	+21.9%	14,3 M €	-77.2%	63 M €		–		–
EBITDA	13,3 M €	-4.2%	13,8 M €	+61.5%	8,6 M €	-26.6%	11,7 M €	+28.5%	9,1 M €	-18.7%	11,2 M €	-0.6%	11,2 M €	+23.9%	9,1 M €	-6.3%	9,7 M €	-16.5%	11,6 M €	+1.5%	11,4 M €	+5.2%	10,8 M €	+26.2%	8,6 M €	+223%	2,7 M €	-30.8%	3,8 M €
Operating result	10,2 M €	-5.4%	10,7 M €	+96.4%	5,5 M €	-36.2%	8,6 M €	+43.3%	6 M €	-25.8%	8,1 M €	-0.8%	8,1 M €	+36.4%	6 M €	-9.3%	6,6 M €	-22.5%	8,5 M €	+2.0%	8,3 M €	+7.3%	7,7 M €	+18.6%	6,5 M €	+145%	2,7 M €	-30.8%	3,8 M €
Net result	5,4 M €	-0.4%	5,4 M €	+369%	1,2 M €	-58.0%	2,8 M €	+498%	461,5 k €	-73.9%	1,8 M €	+7.5%	1,6 M €	+4692%	34,4 k €	-66.1%	101,4 k €	-87.7%	822,5 k €	+8.2%	760,1 k €	+1735%	41,4 k €	+114%	-300 k €	-97.4%	-152 k €	+25.5%	-203,9 k €
Balance sheet
Equity	4,6 M €	0.0%	4,6 M €	0.0%	4,6 M €	-0.2%	4,6 M €	+0.2%	4,6 M €	0.0%	4,6 M €	0.0%	4,6 M €	0.0%	4,6 M €	0.0%	4,6 M €	0.0%	4,6 M €	+0.2%	4,6 M €	+15.5%	4 M €	+1.0%	4 M €	-7.0%	4,3 M €	-3.4%	4,4 M €
Total assets	161,3 M €	-2.9%	166,2 M €	-4.3%	173,8 M €	-4.0%	181 M €	-2.5%	185,7 M €	-3.4%	192,2 M €	-1.0%	194,1 M €	-0.6%	195,3 M €	-1.4%	198,1 M €	+9.1%	181,6 M €	-0.2%	182 M €	+0.0%	181,9 M €	-1.1%	183,8 M €	+23.3%	149,1 M €	+90.0%	78,4 M €
Cash	18,5 M €	-13.9%	21,5 M €	-1.8%	21,8 M €	-23.0%	28,4 M €	-3.4%	29,4 M €	+2.8%	28,5 M €	+5.6%	27 M €	+9.1%	24,8 M €	+3.5%	23,9 M €	+41.7%	16,9 M €	+403%	3,4 M €	-56.5%	7,7 M €	+273%	2,1 M €	-71.7%	7,3 M €	+267%	2 M €
Debts	148,1 M €	-3.7%	153,8 M €	-5.1%	162 M €	-4.0%	168,7 M €	-3.8%	175,4 M €	-3.7%	182,1 M €	-1.4%	184,8 M €	-1.1%	186,8 M €	-1.9%	190,4 M €	+9.1%	174,6 M €	-0.6%	175,6 M €	-0.7%	176,8 M €	-1.5%	179,4 M €	+25.2%	143,3 M €	+96.0%	73,1 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 56 ended

Active mandates

Filip Audenaert

Director · since 28 août 2023 · until 05 avril 2029

Active

Hanne Akkermans

Director · since 23 mai 2022 · until 06 avril 2028

Active

Fréderic Van Hoorebeke

Director · since 01 novembre 2021 · until 01 avril 2027

Active

Karoy Hornyák

Director · since 01 avril 2021 · until 02 avril 2026

Active

Ann Schoubs

Director · since 20 janvier 2021 · until 02 avril 2026

Active

Ended mandates

Manu Vandenbulcke

Director · since 01 avril 2021 · until 02 avril 2026

Ended

Manuel Vandebulcke

Director · since 01 avril 2021 · until 23 mai 2022

Ended

Valerie Coigné

Director · since 01 avril 2021 · until 02 avril 2026

Ended

Valérie Coigné

Director · since 01 avril 2021 · until 28 août 2023

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full 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	01/01/2020
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	12 months
Filing date	09/04/2026	07/04/2025	16/04/2024	21/04/2023	10/05/2022	29/04/2021
General meeting	02/04/2026	03/04/2025	04/04/2024	06/04/2023	22/04/2022	01/04/2021
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
Full model	31/12/2025	02/04/2026	09/04/2026	Dutch	PDF
Full model	31/12/2024	03/04/2025	07/04/2025	Dutch	PDF
Full model	31/12/2023	04/04/2024	16/04/2024	Dutch	PDF
Full model	31/12/2022	06/04/2023	21/04/2023	Dutch	PDF
Full model	31/12/2021	22/04/2022	10/05/2022	Dutch	PDF
Full model	31/12/2020	01/04/2021	29/04/2021	Dutch	PDF
Full model	31/12/2019	02/04/2020	30/04/2020	Dutch	PDF
Full model	31/12/2018	04/04/2019	30/04/2019	Dutch	PDF
Full model	31/12/2017	05/04/2018	03/05/2018	Dutch	PDF
Full model	31/12/2016	06/04/2017	27/04/2017	Dutch	PDF
Full model	31/12/2015	07/04/2016	04/05/2016	Dutch	PDF
Full model	31/12/2014	02/04/2015	18/05/2015	Dutch	PDF
Full model	31/12/2013	03/04/2014	27/05/2014	Dutch	PDF
Full model	31/12/2012	04/04/2013	03/05/2013	Dutch	PDF
Full model	31/12/2011	16/04/2012	11/05/2012	Dutch	PDF
Full model	31/12/2010	07/04/2011	27/04/2011	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 56 ended

Active mandates

Filip Audenaert

Director · since 28 août 2023 · until 05 avril 2029

Active

Hanne Akkermans

Director · since 23 mai 2022 · until 06 avril 2028

Active

Fréderic Van Hoorebeke

Director · since 01 novembre 2021 · until 01 avril 2027

Active

Karoy Hornyák

Director · since 01 avril 2021 · until 02 avril 2026

Active

Ann Schoubs

Director · since 20 janvier 2021 · until 02 avril 2026

Active

Ended mandates

Manu Vandenbulcke

Director · since 01 avril 2021 · until 02 avril 2026

Ended

Manuel Vandebulcke

Director · since 01 avril 2021 · until 23 mai 2022

Ended

Valerie Coigné

Director · since 01 avril 2021 · until 02 avril 2026

Ended

Valérie Coigné

Director · since 01 avril 2021 · until 28 août 2023

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other08/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates22/11/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/06/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/05/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/12/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/05/2021
ONTSLAGEN - BENOEMINGEN
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

02/04/2026
reconductionHornyak Karoy — bestuurder
02/04/2026
reconductionSchoubs Ann — bestuurder
2025
Annual accounts 20255,4 M €↓
03/04/2025
nominationOmer Turna — vaste vertegenwoordiger van de commissaris
2024
Annual accounts 20245,4 M €↑
2023
Annual accounts 20231,2 M €↓
28/08/2023
nominationFilip Audenaert — B-bestuurder
2022
Annual accounts 20222,8 M €↑
23/05/2022
nominationHanne Akkermans — B-bestuurder
22/04/2022
reconductionErnst en Young Bedrijfsrevisoren BV — commissaris
22/04/2022
nominationVan Den Ecker Ronald — vaste vertegenwaordiger voor de uitoefening van voormeld mandaat
2021
Annual accounts 2021461,5 k €↓
2019
Annual accounts 20191,8 M €↑
2018
Annual accounts 20181,6 M €↑
2017
Annual accounts 201734,4 k €↓
2016
Annual accounts 2016101,4 k €↓
2015
Annual accounts 2015822,5 k €↑
2014
Annual accounts 2014760,1 k €↑
2013
Annual accounts 201341,4 k €↑
2012
Annual accounts 2012-300 k €↓
2011
Annual accounts 2011-152 k €↑
2010
Annual accounts 2010-203,9 k €
04/08/2009
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

Project Brabo 1

Overview

What does Project Brabo 1 do?

Trend over 15 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