ACTIVE

TROPICORE

Export PDF

Financial year 2025 · closed on 30/06/2025

Net result

3,5 M €

+106.0% YoY

Revenue

20 M €

+13.9% YoY

Equity

9 M €

+64.4% YoY

Workforce

5,8 ETP

+107.1% YoY

What does TROPICORE do?

TROPICORE is a Public limited company incorporated in 2010. Its registered office is in Watermael-Boitsfort. It employs on average 5,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0830.672.366

Incorporation

27/10/2010

Legal form

Public limited company

Registered office

Rue des Trois Tilleuls 3
1170 Watermael-Boitsfort · BruxellesSee on map

Contributed capital

100 000,00 €

Latest accounts

30/06/2025

Average workforce

5,8 ETP

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood 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 14 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011
Income statement
Revenue	20 M €	+13.9%	17,6 M €	+17.6%	15 M €	-90.0%	150,3 M €	+41.1%	106,5 M €	+90.9%	55,8 M €	+25.8%	44,4 M €	-30.4%	63,7 M €	+37.1%	46,5 M €	-10.8%	52,1 M €	+6.0%	49,2 M €	-28.5%	68,8 M €	-3.3%	71,1 M €	-18.2%	86,9 M €
EBITDA	5,3 M €	+141%	2,2 M €	-16.9%	2,6 M €	+2.0%	2,6 M €	+64.3%	1,6 M €	+109%	752 k €	+177%	271,2 k €	-68.6%	864,9 k €	+82.5%	474,1 k €	+207%	154,4 k €	-58.7%	374,2 k €	-62.6%	1 M €	-25.2%	1,3 M €	-30.9%	1,9 M €
Operating result	5,3 M €	+143%	2,2 M €	-17.7%	2,6 M €	+1.9%	2,6 M €	+65.6%	1,6 M €	+111%	737 k €	+189%	255,3 k €	-69.9%	847,5 k €	+85.6%	456,5 k €	+243%	132,9 k €	-62.5%	354,6 k €	-63.9%	982,1 k €	-25.6%	1,3 M €	-31.3%	1,9 M €
Net result	3,5 M €	+106%	1,7 M €	-10.8%	1,9 M €	+20.2%	1,6 M €	+73.1%	924,1 k €	+124%	413 k €	+3539%	-12 k €	-112%	99,3 k €	-69.9%	329,5 k €	+1.6%	324,2 k €	-36.1%	507,4 k €	-24.2%	669,5 k €	-58.2%	1,6 M €	+20.7%	1,3 M €
Balance sheet
Equity	9 M €	+64.4%	5,5 M €	+5.5%	5,2 M €	+32.6%	3,9 M €	+29.1%	3 M €	+26.1%	2,4 M €	+12.6%	2,1 M €	-0.6%	2,2 M €	-0.0%	2,2 M €	+18.1%	1,8 M €	+21.6%	1,5 M €	+9.5%	1,4 M €	+37.0%	1 M €	+59.5%	627 k €
Total assets	20 M €	-0.1%	20 M €	-13.1%	23,1 M €	-10.7%	25,8 M €	+37.0%	18,9 M €	+51.9%	12,4 M €	+81.1%	6,9 M €	-21.0%	8,7 M €	+3.0%	8,4 M €	+18.3%	7,1 M €	-15.3%	8,4 M €	-13.5%	9,7 M €	-34.3%	14,8 M €	-39.0%	24,2 M €
Cash	7,8 M €	+81.5%	4,3 M €	-43.6%	7,6 M €	+235%	2,3 M €	+1.0%	2,2 M €	+161%	857,6 k €	+67.1%	513,2 k €	-79.4%	2,5 M €	+137%	1,1 M €	-47.8%	2 M €	-17.8%	2,5 M €	+24.2%	2 M €	-71.5%	6,9 M €	-41.3%	11,8 M €
Debts	10,3 M €	-28.7%	14,5 M €	-18.3%	17,7 M €	-14.1%	20,6 M €	+34.3%	15,4 M €	+71.1%	9 M €	+126%	4 M €	-36.1%	6,2 M €	+9.6%	5,7 M €	+17.8%	4,8 M €	-6.7%	5,2 M €	-35.9%	8 M €	-31.8%	11,8 M €	-50.1%	23,6 M €
Other
Workforce	5,8 ETP	+107%	2,8 ETP	0.0%	2,8 ETP	+12.0%	2,5 ETP	+25.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	+11.1%	1,8 ETP	+38.5%	1,3 ETP	-64.9%	3,7 ETP	-9.8%	4,1 ETP	+36.7%	3,0 ETP	+50.0%	2,0 ETP	+11.1%	1,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 6 active · 23 ended

Active mandates

Aimery de Schoutheete de Tervarent

Director · since 06 mars 2023

Active

Augsutin de Bernard de Fauconval de Deukem

Director · since 06 mars 2023 · until 09 décembre 2026

Active

Diego Lamarche

Director · since 06 mars 2023

Active

Arthur de Bernard de Fauconval de Deukem

Director · since 09 décembre 2020

Active

Emilie de Bernard de Fauconval de Deukem

Director · since 09 décembre 2020

Active

Jean-Charles de Bernard de Fauconval de Deukem

Managing director · since 22 octobre 2010

Active

Ended mandates

Aimery de Schoutheete de Tervarent

Director · since 06 mars 2023 · until 09 décembre 2026

Ended

Augustin de Bernard de Fauconval de Deukem

Director · since 06 mars 2023

Ended

Diego Lamarche

Director · since 06 mars 2023 · until 09 décembre 2026

Ended

Arthur de Bernard de Fauconval de Deukem

Director · since 20 décembre 2020

Ended

At this address

Other companies at this address

Company	CBE no.
GREEN FALCON● Active	0740.467.019

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2019
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/01/2020	01/01/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	18 months	12 months
Filing date	26/12/2025	24/01/2025	26/01/2024	20/01/2023	14/01/2022	07/09/2020
General meeting	19/12/2025	20/12/2024	26/12/2023	23/12/2022	17/12/2021	16/06/2020
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

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

14 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	30/06/2025	19/12/2025	26/12/2025	French	PDF
Full model	30/06/2024	20/12/2024	24/01/2025	French	PDF
Full model	30/06/2023	26/12/2023	26/01/2024	French	PDF
Full model	30/06/2022	23/12/2022	20/01/2023	French	PDF
Full model	30/06/2021	17/12/2021	14/01/2022	French	PDF
Full model	31/12/2019	16/06/2020	07/09/2020	French	PDF
Full model	31/12/2018	28/06/2019	27/08/2019	French	PDF
Full model	31/12/2017	30/06/2018	16/08/2018	French	PDF
Full model	31/12/2016	30/06/2017	22/08/2017	French	PDF
Full model	31/12/2015	31/05/2016	22/08/2016	French	PDF
Full model	31/12/2014	26/05/2015	21/08/2015	French	PDF
Full model	31/12/2013	30/06/2014	06/08/2014	French	PDF
Full model	31/12/2012	31/07/2013	30/08/2013	French	PDF
Abridged model	31/12/2011	18/05/2012	30/08/2012	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 30/06/2025 · 6 active · 23 ended

Active mandates

Aimery de Schoutheete de Tervarent

Director · since 06 mars 2023

Active

Augsutin de Bernard de Fauconval de Deukem

Director · since 06 mars 2023 · until 09 décembre 2026

Active

Diego Lamarche

Director · since 06 mars 2023

Active

Arthur de Bernard de Fauconval de Deukem

Director · since 09 décembre 2020

Active

Emilie de Bernard de Fauconval de Deukem

Director · since 09 décembre 2020

Active

Jean-Charles de Bernard de Fauconval de Deukem

Managing director · since 22 octobre 2010

Active

Ended mandates

Aimery de Schoutheete de Tervarent

Director · since 06 mars 2023 · until 09 décembre 2026

Ended

Augustin de Bernard de Fauconval de Deukem

Director · since 06 mars 2023

Ended

Diego Lamarche

Director · since 06 mars 2023 · until 09 décembre 2026

Ended

Arthur de Bernard de Fauconval de Deukem

Director · since 20 décembre 2020

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/04/2026
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates19/06/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates13/04/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates28/04/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates06/01/2021
DENOMINATION - DEMISSIONS, NOMINATIONS
PDF
Mandates11/09/2018
DEMISSIONS, NOMINATIONS
PDF
Capital / shares20/12/2017
CAPITAL, ACTIONS
PDF
Mandates08/02/2017
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

2025
Annual accounts 20253,5 M €↑
2024
Annual accounts 20241,7 M €↓
2023
Annual accounts 20231,9 M €↑
2022
Annual accounts 20221,6 M €↑
2021
Annual accounts 2021924,1 k €↑
2019
Annual accounts 2019413 k €↑
2018
Annual accounts 2018-12 k €↓
2017
Annual accounts 201799,3 k €↓
2016
Annual accounts 2016329,5 k €↑
2015
Annual accounts 2015324,2 k €↓
2014
Annual accounts 2014507,4 k €↓
2013
Annual accounts 2013669,5 k €↓
2012
Annual accounts 20121,6 M €↑
2011
Annual accounts 20111,3 M €
27/10/2010
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

TROPICORE

Overview

What does TROPICORE do?

Trend over 14 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