ACTIVE

FINOSA

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Financial year 2025 · closed on 31/12/2025

Net result

84,1 k €

+54.2% YoY

Gross margin

45 k €

-20.4% YoY

Equity

4,9 M €

+1.7% YoY

What does FINOSA do?

FINOSA is a Public limited company incorporated in 2010. Its main activity is: Activities of holding companies. Its registered office is in Lummen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0825.761.493

Incorporation

07/05/2010

Legal form

Public limited company

Registered office

Bosstraat 54 box 1
3560 Lummen · FlandreSee on map

Contributed capital

4 264 363,82 €

Latest accounts

31/12/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 41101Development of building projects 68121Buying and selling of own real estate 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	45 k €	-20.4%	56,6 k €	+33.6%	42,4 k €	-45.8%	78,1 k €	-34.5%	119,3 k €	-6.8%	127,9 k €	+11.1%	115,1 k €	+218%	36,2 k €	+17.0%	30,9 k €	+177%	11,2 k €	+102%	5,5 k €	+117%	-32,8 k €	-14.2%	-28,7 k €	+1.7%	-29,2 k €	-281%	-7,7 k €
EBITDA	45 k €	-20.4%	56,5 k €	+33.6%	42,3 k €	-45.8%	78 k €	-34.4%	118,9 k €	-6.8%	127,6 k €	+11.2%	114,8 k €	+219%	36 k €	+17.4%	30,6 k €	+190%	10,6 k €	+111%	5 k €	+115%	-33,4 k €	-13.8%	-29,4 k €	+1.5%	-29,8 k €	-225%	-9,2 k €
Operating result	31,7 k €	-26.7%	43,3 k €	+48.9%	29,1 k €	-59.1%	71 k €	-40.3%	118,9 k €	-2.0%	121,4 k €	+11.8%	108,6 k €	+265%	29,7 k €	+21.8%	24,4 k €	+464%	4,3 k €	+496%	-1,1 k €	+97.2%	-39,5 k €	-11.4%	-35,5 k €	+1.2%	-35,9 k €	-140%	-15 k €
Net result	84,1 k €	+54.2%	54,5 k €	+7.2%	50,8 k €	+59.2%	31,9 k €	-61.5%	83 k €	-5.8%	88,1 k €	-13.1%	101,4 k €	+185%	35,6 k €	+66.9%	21,3 k €	+789%	2,4 k €	+125%	-9,5 k €	+83.6%	-58,1 k €	-200%	-19,4 k €	+59.0%	-47,3 k €	-220%	-14,8 k €
Balance sheet
Equity	4,9 M €	+1.7%	4,8 M €	+1.1%	4,8 M €	+1.1%	4,7 M €	+0.7%	4,7 M €	+1.8%	4,6 M €	+2.0%	4,5 M €	+2.3%	4,4 M €	+0.8%	4,4 M €	+136%	1,9 M €	+0.1%	1,9 M €	+36.1%	1,4 M €	+48.1%	918,6 k €	+110%	438 k €	-9.7%	485,2 k €
Total assets	8 M €	+19.7%	6,7 M €	+1.3%	6,6 M €	-1.6%	6,7 M €	+0.4%	6,6 M €	+1.8%	6,5 M €	+1.7%	6,4 M €	+1.8%	6,3 M €	-0.1%	6,3 M €	+67.5%	3,8 M €	+15.2%	3,3 M €	+26.4%	2,6 M €	+21.1%	2,1 M €	+32.4%	1,6 M €	+0.8%	1,6 M €
Cash	295,8 k €	+150%	118,4 k €	+39.5%	84,8 k €	-87.3%	666,6 k €	-68.6%	2,1 M €	+20.2%	1,8 M €	-3.6%	1,8 M €	+22.6%	1,5 M €	+14.1%	1,3 M €	+1311%	92,7 k €	-56.9%	215 k €	+557%	32,7 k €	-94.1%	552,8 k €	+766%	63,9 k €	+0.2%	63,7 k €
Debts	3 M €	+68.6%	1,8 M €	-0.1%	1,8 M €	-6.4%	1,9 M €	+0.7%	1,9 M €	-0.8%	1,9 M €	+1.1%	1,9 M €	+0.5%	1,9 M €	-2.1%	1,9 M €	+1.5%	1,9 M €	+35.3%	1,4 M €	+14.5%	1,2 M €	-0.5%	1,2 M €	+4.4%	1,2 M €	+4.8%	1,1 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 · 2 active · 6 ended

Active mandates

Hanne Verachtert

Mandate

Active

Rob Rutten

Mandate

Active

Ended mandates

Antoon Rutten

Director · since 01 juin 2017 · until 01 juin 2023

Ended

Irene Schuurmans

Director · since 01 juin 2017 · until 01 juin 2023

Ended

Rob Rutten

Managing director · since 01 juin 2017 · until 01 juin 2023

Ended

Wouter Rutten

Manager · since 07 mai 2010

Ended

At this address

Other companies at this address

Company	CBE no.
A.VOGEL● Active	0424.883.259
Center 26● Active	0896.906.243
EPLAN● Active	0466.323.342
EXECON● Active	0873.249.725
LAT Nitrogen Belgium● Active	0737.713.902
NORRIQ Belgium● Active	0463.318.421
R-PARK● Active	0846.708.545
TRISINVEST● Active	0442.771.742
TRIS LUMMEN● Active	1042.040.217
VANDERSTRAETEN - EXECON● Active	0878.078.444

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	01/01/2025	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	20/07/2026	30/06/2025	25/07/2024	19/06/2023	29/07/2022	28/07/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	02/06/2023	03/06/2022	04/06/2021
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	31/12/2025	05/06/2026	20/07/2026	Dutch	PDF
Abridged modelCorrection	31/12/2024	06/06/2025	30/06/2025	Dutch	PDF
Abridged model	31/12/2024	06/06/2025	25/06/2025	Dutch	PDF
Abridged model	31/12/2023	07/06/2024	25/07/2024	Dutch	PDF
Abridged model	31/12/2022	02/06/2023	19/06/2023	Dutch	PDF
Abridged model	31/12/2021	03/06/2022	29/07/2022	Dutch	PDF
Abridged model	31/12/2020	04/06/2021	28/07/2021	Dutch	PDF
Abridged model	31/12/2019	06/05/2020	28/08/2020	Dutch	PDF
Abridged model	31/12/2018	07/06/2019	20/08/2019	Dutch	PDF
Abridged model	31/12/2017	01/06/2018	29/06/2018	Dutch	PDF
Abridged model	31/12/2016	18/05/2017	05/07/2017	Dutch	PDF
Abridged model	31/12/2015	03/06/2016	12/07/2016	Dutch	PDF
Abridged model	31/12/2014	05/06/2015	08/06/2015	Dutch	PDF
Abridged model	31/12/2013	06/06/2014	25/06/2014	Dutch	PDF
Abridged model	31/12/2012	07/06/2013	26/06/2013	Dutch	PDF
Abridged model	31/12/2011	01/06/2012	11/07/2012	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 · 2 active · 6 ended

Active mandates

Hanne Verachtert

Mandate

Active

Rob Rutten

Mandate

Active

Ended mandates

Antoon Rutten

Director · since 01 juin 2017 · until 01 juin 2023

Ended

Irene Schuurmans

Director · since 01 juin 2017 · until 01 juin 2023

Ended

Rob Rutten

Managing director · since 01 juin 2017 · until 01 juin 2023

Ended

Wouter Rutten

Manager · since 07 mai 2010

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates15/04/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/12/2023
BENAMING - MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/07/2022
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring04/08/2017
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring06/06/2017
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Capital / shares19/07/2011
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Other11/05/2010
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 202584,1 k €↑
2024
Annual accounts 202454,5 k €↑
2023
Annual accounts 202350,8 k €↑
2023
Name changeFINOSA
2022
Annual accounts 202231,9 k €↓
2021
Annual accounts 202183 k €↓
2020
Annual accounts 202088,1 k €↓
2019
Annual accounts 2019101,4 k €↑
2018
Annual accounts 201835,6 k €↑
2017
Annual accounts 201721,3 k €↑
2016
Annual accounts 20162,4 k €↑
2015
Annual accounts 2015-9,5 k €↑
2014
Annual accounts 2014-58,1 k €↓
2013
Annual accounts 2013-19,4 k €↑
2012
Annual accounts 2012-47,3 k €↓
2011
Annual accounts 2011-14,8 k €
2011
Name changeRob Hold
07/05/2010
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

FINOSA

Overview

What does FINOSA 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