ACTIVE

S.E.C.

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Financial year 2025 · closed on 30/06/2025

Net result

-1,2 M €

-76.1% YoY

Gross margin

1,5 M €

-27.0% YoY

Equity

12,3 M €

-8.9% YoY

What does S.E.C. do?

S.E.C. is a Public limited company incorporated in 2010. Its registered office is in Leuven.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0823.447.747

Incorporation

25/02/2010

Legal form

Public limited company

Registered office

Quinten Metsysplein 12 box 1
3000 Leuven · FlandreSee on map

Contributed capital

100 000,00 €

Latest accounts

30/06/2025

Signals

Positive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011
Income statement
Gross margin	1,5 M €	-27.0%	2 M €	+33.9%	1,5 M €	-1.0%	1,5 M €	+17.3%	1,3 M €	+163%	501,3 k €	+25.7%	398,7 k €	+55.6%	256,2 k €	+321%	-115,9 k €	-245%	80 k €	-44.1%	143,1 k €	-0.8%	144,2 k €	+11.1%	129,8 k €	+11.4%	116,5 k €	-34.0%	176,6 k €
EBITDA	1,4 M €	-28.3%	2 M €	+35.1%	1,5 M €	-2.1%	1,5 M €	+21.1%	1,2 M €	+853%	129,3 k €	-62.9%	348,7 k €	+39.0%	250,9 k €	+298%	-126,7 k €	-261%	78,9 k €	-44.5%	142,1 k €	-0.8%	143,2 k €	+12.2%	127,6 k €	+10.2%	115,8 k €	-34.2%	175,9 k €
Operating result	-354,3 k €	-277%	199,7 k €	+141%	-491,5 k €	-176%	650,4 k €	+17.2%	554,8 k €	+315%	-258,5 k €	-395%	87,5 k €	+102%	43,3 k €	+123%	-186,6 k €	-1082%	19 k €	-76.9%	82,2 k €	-1.4%	83,3 k €	+23.0%	67,7 k €	+21.1%	55,9 k €	-42.8%	97,7 k €
Net result	-1,2 M €	-76.1%	-683,7 k €	+36.4%	-1,1 M €	-244%	744,3 k €	+197%	250,7 k €	+151%	-487 k €	-8036%	6,1 k €	+114%	-43,1 k €	+78.4%	-199,5 k €	-4117%	5 k €	-88.7%	44 k €	+0.1%	43,9 k €	+9.6%	40,1 k €	+84.2%	21,8 k €	-66.3%	64,6 k €
Balance sheet
Equity	12,3 M €	-8.9%	13,5 M €	-12.1%	15,3 M €	+2.6%	14,9 M €	+9832%	-153,4 k €	+62.0%	-404,1 k €	-587%	82,9 k €	+8.0%	76,8 k €	-36.0%	119,9 k €	-62.5%	319,4 k €	+1.6%	314,4 k €	+16.3%	270,4 k €	+19.4%	226,5 k €	+21.5%	186,4 k €	+13.2%	164,6 k €
Total assets	41,4 M €	-4.4%	43,3 M €	-1.6%	44 M €	+3.2%	42,6 M €	+65.7%	25,7 M €	+19.7%	21,5 M €	+71.5%	12,5 M €	+80.2%	7 M €	+17.6%	5,9 M €	+857%	618,2 k €	-10.4%	689,7 k €	-8.1%	750,7 k €	-3.1%	774,9 k €	-7.9%	841,8 k €	-8.3%	917,5 k €
Cash	71,7 k €	-69.5%	235 k €	+60.6%	146,3 k €	-86.6%	1,1 M €	+343%	245,6 k €	+1812%	12,8 k €	-94.5%	235 k €	+830%	25,3 k €	-62.4%	67,3 k €	+194%	22,8 k €	-48.6%	44,4 k €	-15.7%	52,7 k €	+164%	20 k €	-22.6%	25,8 k €	+16.4%	22,1 k €
Debts	29,1 M €	-2.0%	29,7 M €	+3.8%	28,7 M €	+3.4%	27,7 M €	+7.1%	25,9 M €	+18.2%	21,9 M €	+75.7%	12,5 M €	+81.1%	6,9 M €	+18.7%	5,8 M €	+1840%	298,8 k €	-20.0%	373,3 k €	-21.8%	477,4 k €	-12.2%	543,7 k €	-16.2%	649 k €	-13.3%	748,1 k €
Other
Workforce	–		–		–		–		1,0 ETP		–		1,0 ETP	+400%	0,2 ETP		–		–		–		–		–		–		–

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 30/06/2025 · 1 active · 12 ended

Active mandates

Damiaan 4

Director · since 05 décembre 2023 · 0764.972.187

Represented by Kourosh Javedani

Active

Ended mandates

Kourosh Javedani

Director · since 29 juin 2023

Ended

Finance & Management Executives

Managing director · since 10 mars 2022 · until 29 juin 2023 · 0472.547.277

Represented by TIM PAUWELS

Ended

Finance & Management Executives

Managing director · since 10 mars 2022 · until 05 décembre 2023 · 0472.547.277

Represented by TIM PAUWELS

Ended

Finance & Management Executives

Managing director · since 10 mars 2022 · 0472.547.277

Represented by TIM PAUWELS

Ended

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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	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	30/01/2026	30/01/2025	30/01/2024	24/01/2023	27/01/2022	02/02/2021
General meeting	31/12/2025	31/12/2024	29/12/2023	30/12/2022	31/12/2021	27/12/2020
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

15 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	31/12/2025	30/01/2026	Dutch	PDF
Abridged model	30/06/2024	31/12/2024	30/01/2025	Dutch	PDF
Abridged model	30/06/2023	29/12/2023	30/01/2024	Dutch	PDF
Abridged model	30/06/2022	30/12/2022	24/01/2023	Dutch	PDF
Abridged model	30/06/2021	31/12/2021	27/01/2022	Dutch	PDF
Abridged model	30/06/2020	27/12/2020	02/02/2021	Dutch	PDF
Abridged model	30/06/2019	27/12/2019	06/02/2020	Dutch	PDF
Abridged model	30/06/2018	28/12/2018	31/01/2019	Dutch	PDF
Abridged model	30/06/2017	29/12/2017	15/01/2018	Dutch	PDF
Abridged model	30/06/2016	30/12/2016	05/01/2017	Dutch	PDF
Abridged model	30/06/2015	28/12/2015	05/01/2016	Dutch	PDF
Abridged model	30/06/2014	26/12/2014	07/01/2015	Dutch	PDF
Abridged model	30/06/2013	27/12/2013	06/01/2014	Dutch	PDF
Abridged model	30/06/2012	28/12/2012	31/12/2012	Dutch	PDF
Abridged model	30/06/2011	30/12/2011	30/12/2011	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 30/06/2025 · 1 active · 12 ended

Active mandates

Damiaan 4

Director · since 05 décembre 2023 · 0764.972.187

Represented by Kourosh Javedani

Active

Ended mandates

Kourosh Javedani

Director · since 29 juin 2023

Ended

Finance & Management Executives

Managing director · since 10 mars 2022 · until 29 juin 2023 · 0472.547.277

Represented by TIM PAUWELS

Ended

Finance & Management Executives

Managing director · since 10 mars 2022 · until 05 décembre 2023 · 0472.547.277

Represented by TIM PAUWELS

Ended

Finance & Management Executives

Managing director · since 10 mars 2022 · 0472.547.277

Represented by TIM PAUWELS

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates26/02/2024
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Registered office25/10/2023
MAATSCHAPPELIJKE ZETEL - DIVERSEN
PDF
Mandates14/09/2023
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/03/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/03/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/03/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/05/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/10/2016
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

2025
Annual accounts 2025-1,2 M €↓
2024
Annual accounts 2024-683,7 k €↑
2023
Annual accounts 2023-1,1 M €↓
2022
Annual accounts 2022744,3 k €↑
2021
Annual accounts 2021250,7 k €↑
2020
Annual accounts 2020-487 k €↓
2019
Annual accounts 20196,1 k €↑
2018
Annual accounts 2018-43,1 k €↑
2017
Annual accounts 2017-199,5 k €↓
2016
Annual accounts 20165 k €↓
2015
Annual accounts 201544 k €↑
2014
Annual accounts 201443,9 k €↑
2013
Annual accounts 201340,1 k €↑
2012
Annual accounts 201221,8 k €↓
2011
Annual accounts 201164,6 k €
25/02/2010
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

S.E.C.

Overview

What does S.E.C. 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

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