ACTIVE

Ethias Solution

Export PDF

Financial year 2025 · Closed on 31/12/2025

Net result531,4 k €-34,0 %over 1 year
Revenue4,1 M €-3,0 %over 1 year
Equity4,5 M €+5,0 %over 1 year

Identity

Source · BCE/KBO

Ethias Solution is a Public limited company incorporated in 2010. Its main activity is: Other business support service activities n.e.c.. Its registered office is in Liège.

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0825.876.113
Incorporation
12/05/2010
Legal form
Public limited company
Registered office
Voie Gisèle Halimi 10
4000 Liège · WallonieSee on map
Contributed capital
3 750 000,00 €
Latest accounts
31/12/2025
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

Financials

Source · NBB, 15 filings

Trend over 4 financial years

2025202420232022
Income statement
Revenue4,1 M €4,3 M €2,8 M €1,4 M €
EBITDA602 k €1 M €551,7 k €63,7 k €
Operating result638,6 k €933,9 k €527,2 k €69,4 k €
Net result531,4 k €805,6 k €470,9 k €50,7 k €
Balance sheet
Equity4,5 M €4,3 M €3,9 M €3,6 M €
Total assets6,6 M €8 M €7,3 M €6,5 M €
Cash3 M €4,5 M €5,2 M €5 M €
Debts2,1 M €3,7 M €3,4 M €2,9 M €

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

4 active

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Luc KRANZEN
Mandate
Maryline SERAFIN
Mandate
Nicolas DUMAZY
Mandate
Wilfried NEVEN
Mandate

Other companies at this address

Voie Gisèle Halimi 10 4000 Liège
CompanyCBE no.
Amicale du Personnel d'(Ethias S.A. Vriendenkring van het Personeel van Ethias N.V.● Active
1007.271.457
ANKARET INVEST● Active
0438.840.866
ARIANE REAL ESTATE● Active
0898.866.435
ETHIAS● Active
0404.484.654
EthiasCo● Active
0402.370.054
Ethias Group● Active
1012.346.240
ETHIAS PATRIMOINE● Active
0894.377.612
Ethias Pension Fund● Active
0644.695.949
Ethias Sustainable Investment Fund● Active
0865.127.063
ETHIAS VENTURES● Active
0793.497.216
IMMO HOFVELD● Active
0889.535.233
JAN DOCKX● Active
0458.920.757
KOALA● Active
0873.412.150
LOTHIAN DEVELOPMENTS IV● Active
0463.648.518
REAL GOED INVEST● Active
0872.354.157
SAGITTA● Active
0812.356.489
UP 38● Active
0833.845.751
VERAN REAL ESTATE CY● Active
0894.106.012
VIMINALIS III● Active
0841.657.320

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 date18/05/202615/05/202530/05/202408/06/202331/05/202230/04/2021
General meeting04/05/202605/05/202506/05/202408/05/202302/05/202231/03/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

Looking for more information about this company?

Try for free

Annual accounts filings

Source · NBB, 15 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202504/05/202618/05/2026FrenchPDF
Full model31/12/202405/05/202515/05/2025FrenchPDF
Full model31/12/202306/05/202430/05/2024FrenchPDF
Full model31/12/202208/05/202308/06/2023FrenchPDF
Full model31/12/202102/05/202231/05/2022FrenchPDF
Full model31/12/202031/03/202130/04/2021FrenchPDF
Full model31/12/201904/05/202027/05/2020FrenchPDF
Full model31/12/201806/05/201928/05/2019FrenchPDF
Full model31/12/201707/05/201815/05/2018FrenchPDF
Full model31/12/201608/05/201712/05/2017FrenchPDF
Full model31/12/201502/05/201613/06/2016FrenchPDF
Full model31/12/201404/05/201502/06/2015FrenchPDF
Full model31/12/201305/05/201405/06/2014FrenchPDF
Full model31/12/201206/05/201318/06/2013FrenchPDF
Full model31/12/201107/05/201227/06/2012FrenchPDF

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

4 active

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Luc KRANZEN
Mandate
Maryline SERAFIN
Mandate
Nicolas DUMAZY
Mandate
Wilfried NEVEN
Mandate

Ownership and network

Looking for more information about this company?

Try for free

Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates02/06/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates17/12/2025
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - DENOMINATION
    PDF
  • Mandates06/10/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Registered office08/04/2025
    SIEGE SOCIAL
    PDF
  • Mandates11/07/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates31/08/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates03/02/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates30/07/2021
    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
Filings4 filings
Mandates
Nicolas DUMAZY
Maryline SERAFIN
Wilfried NEVEN
Luc KRANZEN
20102011201220132014201520162017201820192020202120222023202420252026
Ethias SolutionEthias Services
Voie Gisèle Halimi 10, 4000 LiègeRue des Croisiers 24, 4000 Liège
CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE
Registered addressPeriodSource
Voie Gisèle Halimi 10, 4000 LiègeCurrent
accounts 2024 → 2025
Accounts 2025 · 2026-00117476
Rue des Croisiers 24, 4000 Liège
accounts 2022 → 2023
Accounts 2023 · 2024-00113546

Company names

Source · NBB annual accounts, CBE
NamePeriodSource
Ethias SolutionCurrent
accounts 2025
Accounts 2025 · 2026-00117476
Ethias Services
accounts 2022 → 2024
Accounts 2024 · 2025-00102480

Events

  1. 2025
    Annual accounts 2025531,4 k €↓
  2. 2025
    Name changeEthias Solution
  3. 2024
    Annual accounts 2024805,6 k €↑
  4. 2023
    Annual accounts 2023470,9 k €↑
  5. 2022
    Annual accounts 202250,7 k €
  6. 12/05/2010
    IncorporationPublic limited company