ACTIVE

Apheon Advisors

Export PDF
Financial year 2025 · closed on 31/12/2025
Net result
1,5 M €
+113.3% YoY
Revenue
19,5 M €
+0.0% YoY
Equity
1,9 M €
-21.1% YoY
Workforce
10,0 ETP
-1.0% YoY

What does Apheon Advisors do?

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
Activities (NACE)
70200Management consultancy activities· main70220Business and other management consultancy activities
Signals
ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue
View the BCE/KBO Public Search record →
Health score
Available with a Rovalta subscriptionTry for 7 days
Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 9 financial years

202520242023202220212013201220112010
Income statement
Revenue19,5 M €19,5 M €17,8 M €14,6 M €13 M €5,7 M €5,4 M €4,4 M €2,2 M €
EBITDA1 M €1 M €961,1 k €695 k €646,3 k €2,6 k €98,1 k €5,1 k €6,6 k €
Operating result883,4 k €853,4 k €808,7 k €563,1 k €520,7 k €645,5 €96,6 k €4,6 k €5,2 k €
Net result1,5 M €706 k €256,3 k €208,1 k €218,9 k €-3,3 k €59 k €-376 €1,8 k €
Balance sheet
Equity1,9 M €2,3 M €1,6 M €1,4 M €1,2 M €63,2 k €66,6 k €7,6 k €8 k €
Total assets5,4 M €16,6 M €11,8 M €11,2 M €9 M €2 M €1,3 M €1,4 M €409,9 k €
Cash520 k €793,4 k €579,6 k €1 M €891,7 k €835,5 k €99,5 k €55,1 k €75,5 k €
Debts3,5 M €12 M €9,9 M €9,6 M €7,6 M €1,9 M €1,2 M €985,9 k €401,8 k €
Other
Workforce10,0 ETP10,1 ETP9,9 ETP7,4 ETP5,9 ETP1,0 ETP1,0 ETP0,8 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 31/12/2025 · 3 active · 16 ended

Active mandates

Wolfgang de Limburg Stirum

Managing director · since 20 juin 2025 · until 20 juin 2031

Active
Lake Advisors

Director · since 06 novembre 2024 · until 21 juin 2030 · 0597.891.964

Represented by Pieter Lambrecht

Active
John Mansvelt

Director · since 19 juin 2020 · until 16 avril 2026

Active

Ended mandates

John Mansvelt

Director · since 19 juin 2020 · until 19 juin 2026

Ended
Emanuele Lembo

Director · since 21 juin 2019 · until 20 juin 2025

Ended
Wolfgang de Limburg Stirum

Managing director · since 21 juin 2019 · until 20 juin 2025

Ended
John Mansvelt

Director · since 20 juin 2014 · until 19 juin 2026

Ended
At this address

Other companies at this address

CompanyCBE no.
94 Group● Active
1039.312.933
94 International● Active
1039.303.134
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
Annual accounts

Full financial information

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
Ratios

Financial ratios

Looking for more information about this company?

Try for 7 days
Filings

Annual accounts filings

16 filings with the NBB

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
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 31/12/2025 · 3 active · 16 ended

Active mandates

Wolfgang de Limburg Stirum

Managing director · since 20 juin 2025 · until 20 juin 2031

Active
Lake Advisors

Director · since 06 novembre 2024 · until 21 juin 2030 · 0597.891.964

Represented by Pieter Lambrecht

Active
John Mansvelt

Director · since 19 juin 2020 · until 16 avril 2026

Active

Ended mandates

John Mansvelt

Director · since 19 juin 2020 · until 19 juin 2026

Ended
Emanuele Lembo

Director · since 21 juin 2019 · until 20 juin 2025

Ended
Wolfgang de Limburg Stirum

Managing director · since 21 juin 2019 · until 20 juin 2025

Ended
John Mansvelt

Director · since 20 juin 2014 · until 19 juin 2026

Ended
Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days
Belgian Official Gazette

Belgian Official Gazette publications

  • 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

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

Timeline

  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 SA
  5. 2022
    Annual accounts 2022208,1 k €↓
  6. 2021
    Annual accounts 2021218,9 k €↑
  7. 2021
    Name changeERGON CAPITAL ADVISORS
  8. 2013
    Annual accounts 2013-3,3 k €↓
  9. 2012
    Annual accounts 201259 k €↑
  10. 2011
    Annual accounts 2011-376 €↓
  11. 2010
    Annual accounts 20101,8 k €
  12. 22/04/2010
    IncorporationPublic limited company