ACTIVE

APAGA Management

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Financial year 2025 · closed on 31/12/2025

Net result

989,8 k €

-50.5% YoY

Gross margin

281,8 k €

+154.0% YoY

Equity

36,1 M €

-2.0% YoY

Workforce

1,0 ETP

What does APAGA Management do?

APAGA Management is a Private limited company incorporated in 2010. Its main activity is: Management consultancy activities. Its registered office is in Tournai. It employs on average 1,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0830.647.028

Incorporation

26/10/2010

Legal form

Private limited company

Registered office

Rue du Curé du Château(TOU) 4
7500 Tournai · WallonieSee on map

Contributed capital

19 139 264,00 €

Latest accounts

31/12/2025

Average workforce

1,0 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 70210Public relations and communication activities 73300Advertising and market research

Joint committees (1)

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	281,8 k €	+154%	111 k €	-28.7%	155,6 k €	+18.2%	131,6 k €	-14.9%	154,7 k €	-20.3%	194,2 k €	-18.3%	237,7 k €	+25.0%	190,2 k €	+60.9%	118,3 k €	-38.4%	192 k €	+228%	58,5 k €	+447%	10,7 k €	-79.3%	51,8 k €	+36.0%	38,1 k €	-75.0%	152,4 k €
EBITDA	168,8 k €	+53.6%	109,8 k €	-28.8%	154,2 k €	+20.3%	128,2 k €	+156%	50,1 k €	-73.9%	192,2 k €	-4.2%	200,7 k €	+9.4%	183,4 k €	+56.6%	117,1 k €	-38.7%	190,9 k €	+233%	57,3 k €	+550%	8,8 k €	-82.7%	51 k €	+36.7%	37,3 k €	-75.5%	152,1 k €
Operating result	103,2 k €	+8.0%	95,6 k €	-32.0%	140,6 k €	+33.3%	105,4 k €	+238%	31,2 k €	-82.9%	182,2 k €	-4.5%	190,9 k €	+10.3%	173,1 k €	+57.4%	109,9 k €	-39.4%	181,3 k €	+285%	47,1 k €	+2857%	-1,7 k €	-104%	46,8 k €	+38.0%	34 k €	-77.5%	151,1 k €
Net result	989,8 k €	-50.5%	2 M €	-64.1%	5,6 M €	+251%	1,6 M €	-68.4%	5 M €	+5982%	82,4 k €	-87.7%	669,8 k €	+5.6%	634,5 k €	+13.7%	558,3 k €	+7.8%	517,9 k €	+13.9%	454,7 k €	+171%	167,6 k €	-16.1%	199,7 k €	+60.1%	124,7 k €	+22.3%	102 k €
Balance sheet
Equity	36,1 M €	-2.0%	36,8 M €	+5.7%	34,8 M €	+19.0%	29,2 M €	+5.7%	27,7 M €	+22.1%	22,7 M €	+0.4%	22,6 M €	+3.1%	21,9 M €	+3.0%	21,3 M €	-2.5%	21,8 M €	+2.4%	21,3 M €	+2.2%	20,8 M €	+40.1%	14,9 M €	+1.4%	14,7 M €	+12722%	114,4 k €
Total assets	38,7 M €	+0.3%	38,6 M €	+3.1%	37,5 M €	+18.2%	31,7 M €	+4.4%	30,4 M €	+24.7%	24,4 M €	+0.3%	24,3 M €	+2.7%	23,7 M €	+2.5%	23,1 M €	+1.9%	22,6 M €	+2.8%	22 M €	+2.0%	21,6 M €	+44.8%	14,9 M €	+1.2%	14,7 M €	+6973%	208,1 k €
Cash	401,7 k €	-49.5%	795 k €	+249%	228 k €	-36.4%	358,6 k €	+109%	171,9 k €	-75.6%	704,8 k €	-63.1%	1,9 M €	+57.5%	1,2 M €	+72.7%	702,2 k €	+203%	231,7 k €	+94.9%	118,9 k €	-5.6%	125,9 k €	-58.9%	306,5 k €	+153%	121,3 k €	+730%	14,6 k €
Debts	2,6 M €	+43.1%	1,8 M €	-31.2%	2,7 M €	+8.5%	2,5 M €	+6.0%	2,3 M €	+36.7%	1,7 M €	-0.9%	1,7 M €	-2.3%	1,8 M €	-2.7%	1,8 M €	+117%	832,8 k €	+14.8%	725,6 k €	-2.6%	745 k €	+1998%	35,5 k €	-31.1%	51,5 k €	-45.0%	93,7 k €
Other
Workforce	1,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 1 ended

Active mandates

Pierre Mat

Director

Active

Ended mandates

Pierre Mat

Manager

Ended

At this address

Other companies at this address

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ENAIRGIE DU HAINAUT● Active	0879.254.817
Nova Sight● Active	1037.640.474
S.R.V.● Active	0859.574.012
TERTRE INNOVATION SOLAIRE● Active	0757.468.446

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	31/08/2026	29/08/2025	28/08/2024	23/08/2023	24/08/2022	18/08/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	23/06/2023	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

15 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	05/06/2026	31/08/2026	French	PDF
Abridged model	31/12/2024	06/06/2025	29/08/2025	French	PDF
Abridged model	31/12/2023	07/06/2024	28/08/2024	French	PDF
Abridged model	31/12/2022	23/06/2023	23/08/2023	French	PDF
Abridged model	31/12/2021	03/06/2022	24/08/2022	French	PDF
Abridged model	31/12/2020	04/06/2021	18/08/2021	French	PDF
Abridged model	31/12/2019	05/06/2020	25/08/2020	French	PDF
Abridged model	31/12/2018	07/06/2019	23/08/2019	French	PDF
Abridged model	31/12/2017	01/06/2018	12/07/2018	French	PDF
Micro model	31/12/2016	02/06/2017	30/06/2017	French	PDF
Abridged model	31/12/2015	03/06/2016	22/07/2016	French	PDF
Abridged model	31/12/2014	05/06/2015	16/06/2015	French	PDF
Abridged model	31/12/2013	06/06/2014	29/06/2014	French	PDF
Abridged model	31/12/2012	07/06/2013	21/06/2013	French	PDF
Abridged model	31/12/2011	01/06/2012	15/06/2012	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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 · 1 active · 1 ended

Active mandates

Pierre Mat

Director

Active

Ended mandates

Pierre Mat

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/06/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Capital / shares13/11/2017
CAPITAL, ACTIONS
PDF
Capital / shares13/01/2015
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Capital / shares06/02/2012
CAPITAL, ACTIONS
PDF
Other28/10/2010
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 2025989,8 k €↓
2024
Annual accounts 20242 M €↓
2023
Annual accounts 20235,6 M €↑
2022
Annual accounts 20221,6 M €↓
2021
Annual accounts 20215 M €↑
2020
Annual accounts 202082,4 k €↓
2019
Annual accounts 2019669,8 k €↑
2018
Annual accounts 2018634,5 k €↑
2017
Annual accounts 2017558,3 k €↑
2016
Annual accounts 2016517,9 k €↑
2015
Annual accounts 2015454,7 k €↑
2014
Annual accounts 2014167,6 k €↓
2013
Annual accounts 2013199,7 k €↑
2012
Annual accounts 2012124,7 k €↑
2011
Annual accounts 2011102 k €
26/10/2010
IncorporationPrivate 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

APAGA Management

Overview

What does APAGA Management 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