ACTIVE

Apheon Advisors

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Financial year 2025 · Closed on 31/12/2025

Net result1,5 M €+113,3 %over 1 year
Revenue19,5 M €+0,0 %over 1 year
Equity1,9 M €-21,1 %over 1 year
Workforce10,0 ETP-1,0 %over 1 year

Identity

Source · BCE/KBO

Apheon Advisors is a Public limited company incorporated in 2010. Its main activity is: Management consultancy activities. Its registered office is in Ixelles. It employs on average 10,0 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0825.238.089
Incorporation
22/04/2010
Legal form
Public limited company
Registered office
Avenue Louise 326
1050 Ixelles · BruxellesSee on map
Contributed capital
61 500,00 €
Latest accounts
31/12/2025
Average workforce
10,0 ETP
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 16 filings

Trend over 9 financial years

20252024202320222021
Income statement
Revenue19,5 M €19,5 M €17,8 M €14,6 M €13 M €
EBITDA1 M €1 M €961,1 k €695 k €646,3 k €
Operating result883,4 k €853,4 k €808,7 k €563,1 k €520,7 k €
Net result1,5 M €706 k €256,3 k €208,1 k €218,9 k €
Balance sheet
Equity1,9 M €2,3 M €1,6 M €1,4 M €1,2 M €
Total assets5,4 M €16,6 M €11,8 M €11,2 M €9 M €
Cash520 k €793,4 k €579,6 k €1 M €891,7 k €
Debts3,5 M €12 M €9,9 M €9,6 M €7,6 M €
Other
Workforce10,0 ETP10,1 ETP9,9 ETP7,4 ETP5,9 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 5 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Wolfgang de Limburg Stirum
Managing director05/12/2013 → 20/06/2031Director05/12/2013 → 2021 accountsendedManager21/04/2010 → 2012 accountsended
Lake Advisors0597.891.964Represented by Pieter Lambrecht
Director06/11/2024 → 21/06/2030
John Mansvelt
Director20/06/2014 → 19/06/2026

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Emanuele Lembo
Director05/12/2013 → 2023 accounts
Nicola Zambon
Director05/12/2013 → 2013 accounts

Other companies at this address

Avenue Louise 326 1050 Ixelles
CompanyCBE no.
AH LEGAL● Active
0715.716.280
ANCIENNE IMMOBILIERE DE WOLUWE● Liquidation
0408.248.848
Apheon MidCap Buyout Feeder GP● Active
0763.572.122
Apheon MidCap Buyout IV Feeder● Active
0698.960.620
Apheon MidCap Buyout IV Feeder GP● Active
0696.635.786
Apheon MidCap Buyout V Feeder● Active
0763.580.436
Apheon MidCap Buyout VI Feeder Scomm● Active
1023.415.821
ARS AEQUI● Active
0780.705.884
AVERTIM● Active
0892.519.071
Bitstamp Holdings● Active
0689.668.713
Brayton Global● Active
0554.946.403
Bureau économique et commercial de Macao auprès de l"U.E.● Active
0850.659.019
CAPITAL CONSTRUCT● Active
0888.871.376
CAPITAL HOME● Active
0533.747.448
CAPITAL RENT● Active
0533.967.776
Capital Shop● Active
0880.636.175
Citrex● Liquidation
0411.891.989
CM STUDIO● Active
1028.940.366
Consulat général de Colombie à Bruxelles● Active
1010.636.961
Core Equity Holdings● Active
0655.741.081

Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date23/04/202623/06/202527/06/202430/06/202326/07/202222/07/2021
General meeting16/04/202620/06/202521/06/202419/06/202330/06/202218/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 16 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202516/04/202623/04/2026FrenchPDF
Full model31/12/202420/06/202523/06/2025FrenchPDF
Full model31/12/202321/06/202427/06/2024FrenchPDF
Full model31/12/202219/06/202330/06/2023FrenchPDF
Full model31/12/202130/06/202226/07/2022FrenchPDF
Full model31/12/202018/06/202122/07/2021FrenchPDF
Full model31/12/201919/06/202013/07/2020FrenchPDF
Full model31/12/201821/06/201916/07/2019FrenchPDF
Full model31/12/201715/06/201817/07/2018FrenchPDF
Full model31/12/201616/06/201731/07/2017FrenchPDF
Full model31/12/201517/06/201627/07/2016FrenchPDF
Full model31/12/201419/06/201501/07/2015FrenchPDF
Full model31/12/201320/06/201408/07/2014FrenchPDF
Full model31/12/201221/06/201315/07/2013FrenchPDF
Full model31/12/201115/06/201219/06/2012FrenchPDF
Full model31/12/201017/06/201121/06/2011FrenchPDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 5 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Wolfgang de Limburg Stirum
Managing director05/12/2013 → 20/06/2031Director05/12/2013 → 2021 accountsendedManager21/04/2010 → 2012 accountsended
Lake Advisors0597.891.964Represented by Pieter Lambrecht
Director06/11/2024 → 21/06/2030
John Mansvelt
Director20/06/2014 → 19/06/2026

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Emanuele Lembo
Director05/12/2013 → 2023 accounts
Nicola Zambon
Director05/12/2013 → 2013 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates06/05/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates23/07/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates18/11/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates15/09/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates07/07/2023
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - DENOMINATION
    PDF
  • Registered office31/12/2020
    SIEGE SOCIAL
    PDF
  • Capital / shares16/12/2020
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - CAPITAL, ACTIONS
    PDF
  • Mandates17/09/2020
    DEMISSIONS, NOMINATIONS
    PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts
Year
Identity
Incorporation
Name
Registered office
Annual accounts
Filings9 filings
Mandates
Wolfgang de Limburg Stirum
Lake Advisors
John Mansvelt
Emanuele Lembo
Pierre Gallix
Nicola Zambon
Colin Hall
Serge Touati
2010201120122013201420152016201720182019202020212022202320242025202620272028202920302031
Apheon AdvisorsERGON CAPITAL ADVISORS
Avenue Louise 326, 1050 Ixelles
Managing directorDirectorManager
Director
Director
Director
Manager
CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE
Registered addressPeriodSource
Avenue Louise 326, 1050 IxellesCurrent
accounts 2021 → 2025
Accounts 2025 · 2026-00086065

Company names

Source · NBB annual accounts, CBE
NamePeriodSource
Apheon AdvisorsCurrent
accounts 2023 → 2025
Accounts 2025 · 2026-00086065
ERGON CAPITAL ADVISORS
accounts 2021 → 2022
Accounts 2022 · 2023-00190165

Events

  1. 2025
    Annual accounts 20251,5 M €↑
  2. 2024
    Annual accounts 2024706 k €↑
  3. 2023
    Annual accounts 2023256,3 k €↑
  4. 2023
    Name changeApheon Advisors
  5. 2022
    Annual accounts 2022208,1 k €↓
  6. 2021
    Annual accounts 2021218,9 k €↑
  7. 2013
    Annual accounts 2013-3,3 k €↓
  8. 2012
    Annual accounts 201259 k €↑
  9. 2011
    Annual accounts 2011-376 €↓
  10. 2010
    Annual accounts 20101,8 k €
  11. 22/04/2010
    IncorporationPublic limited company