ACTIVE

BLUESTONE INVEST

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Financial year 2025 · Closed on 31/12/2025

Net result5,8 M €+137,1 %over 1 year

Gross margin8,2 M €+149,4 %over 1 year

Equity11,4 M €+86,3 %over 1 year

Workforce1,8 ETP+5,9 %over 1 year

Identity

Source · BCE/KBO

BLUESTONE INVEST is a Private limited company incorporated in 2010. Its main activity is: Development of building projects. Its registered office is in Anderlecht. It employs on average 1,8 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0830.993.654
Incorporation: 09/11/2010
Legal form: Private limited company
Registered office: Rue de l'Agrafe 68 box 6.03
1070 Anderlecht · BruxellesSee on map
Contributed capital: 20 000,00 €
Latest accounts: 31/12/2025
Average workforce: 1,8 ETP

Activities (NACE)

41101Development of building projects· main 68121Buying and selling of own real estate 41102Development of building projects 68100Buying and selling of own real estate 68110Buying and selling of own real estate 68122Buying and selling of own real estate+6

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 15 filings

Trend over 15 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	8,2 M €	+149%	3,3 M €	+76.3%	1,9 M €	+2.8%	1,8 M €		–
EBITDA	7,7 M €	+150%	3,1 M €	+90.7%	1,6 M €	+0.4%	1,6 M €	+20.8%	1,3 M €
Operating result	7,6 M €	+149%	3,1 M €	+91.4%	1,6 M €	-0.3%	1,6 M €	+16.4%	1,4 M €
Net result	5,8 M €	+137%	2,4 M €	+109%	1,2 M €	-0.1%	1,2 M €	+15.2%	1 M €
Balance sheet
Equity	11,4 M €	+86.3%	6,1 M €	+21.4%	5 M €	+15.3%	4,4 M €	+4.0%	4,2 M €
Total assets	14,4 M €	-73.7%	54,6 M €	+30.5%	41,8 M €	+63.0%	25,7 M €	+21.3%	21,2 M €
Cash	68,6 k €	-59.2%	167,9 k €	-15.4%	198,6 k €	-95.5%	4,4 M €	+183%	1,6 M €
Debts	1,8 M €	-96.2%	47,3 M €	+32.7%	35,6 M €	+77.5%	20,1 M €	+27.8%	15,7 M €
Other
Workforce	1,8 ETP	+5.9%	1,7 ETP	-10.5%	1,9 ETP	+11.8%	1,7 ETP	+13.3%	1,5 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 9 ended

Active mandates

UNIVERSTONE

Director · since 18 avril 2024 · 0896.457.370

Represented by Arnaud Khodara

Active

VLABO

Director · since 18 avril 2024 · 0422.957.414

Represented by Paul Van Butsele

Active

Ended mandates

UNIVERSTONE

Director · since 18 avril 2024 · 0896.457.370

Ended

VLABO

Director · since 18 avril 2024 · 0422.957.414

Ended

Paul VAN BUTSELE

Director · since 15 janvier 2018 · until 18 avril 2024

Ended

Arnaud Khodara

Manager · since 09 novembre 2010

Ended

Other companies at this address

Rue de l'Agrafe 68 1070 Anderlecht

Company	CBE no.
BLUESTONE SERVICE● Active	0842.668.395
Coralie● Active	0662.652.629
HENDRICKX KEY LARGO ET CIE● Active	0465.429.655
KASNY CONSULTING● Active	0772.782.172
SPIRYIT● Active	1004.647.806
TINT● Active	0675.462.567
VLABO● Active	0422.957.414

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Full model	Full 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	18/05/2026	30/07/2025	30/08/2024	17/08/2023	30/08/2022	31/08/2021
General meeting	18/04/2026	18/04/2025	18/04/2024	26/04/2023	19/04/2022	19/04/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 15 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	18/04/2026	18/05/2026	French	PDF
Abridged model	31/12/2024	18/04/2025	30/07/2025	French	PDF
Abridged model	31/12/2023	18/04/2024	30/08/2024	French	PDF
Abridged model	31/12/2022	26/04/2023	17/08/2023	French	PDF
Full model	31/12/2021	19/04/2022	30/08/2022	French	PDF
Full model	31/12/2020	19/04/2021	31/08/2021	French	PDF
Abridged model	31/12/2019	18/04/2020	31/08/2020	French	PDF
Abridged model	31/12/2018	18/04/2019	29/08/2019	French	PDF
Abridged model	31/12/2017	10/04/2018	30/08/2018	French	PDF
Abridged model	31/12/2016	18/04/2017	28/08/2017	French	PDF
Abridged model	31/12/2015	18/04/2016	30/08/2016	French	PDF
Abridged model	31/12/2014	18/04/2015	25/08/2015	French	PDF
Abridged model	31/12/2013	18/04/2014	19/06/2014	French	PDF
Abridged model	31/12/2012	18/04/2013	22/07/2013	French	PDF
Abridged model	31/12/2011	18/04/2012	08/08/2012	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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

2 active · 9 ended

Active mandates

UNIVERSTONE

Director · since 18 avril 2024 · 0896.457.370

Represented by Arnaud Khodara

Active

VLABO

Director · since 18 avril 2024 · 0422.957.414

Represented by Paul Van Butsele

Active

Ended mandates

UNIVERSTONE

Director · since 18 avril 2024 · 0896.457.370

Ended

VLABO

Director · since 18 avril 2024 · 0422.957.414

Ended

Paul VAN BUTSELE

Director · since 15 janvier 2018 · until 18 avril 2024

Ended

Arnaud Khodara

Manager · since 09 novembre 2010

Ended

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates30/04/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Other07/01/2021
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Registered office27/02/2020
SIEGE SOCIAL
PDF
Mandates25/07/2019
DEMISSIONS, NOMINATIONS
PDF
Other12/04/2019
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates19/02/2018
DEMISSIONS, NOMINATIONS
PDF
Other22/11/2010
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

2025
Annual accounts 20255,8 M €↑
2024
Annual accounts 20242,4 M €↑
18/04/2024
nominationUNIVERSTONE — administrateur non-statutaire
18/04/2024
nominationVLABO — administrateur non-statutaire
2023
Annual accounts 20231,2 M €↓
2022
Annual accounts 20221,2 M €↑
2021
Annual accounts 20211 M €↑
2020
Annual accounts 2020995 k €↑
2019
Annual accounts 2019436 k €↓
2018
Annual accounts 2018491 k €↑
2017
Annual accounts 2017143,1 k €↑
2016
Annual accounts 201610,8 k €↓
2015
Annual accounts 201519,8 k €↓
2014
Annual accounts 2014667,1 k €↑
2013
Annual accounts 2013651,5 k €↑
2012
Annual accounts 2012419,8 k €↑
2011
Annual accounts 2011-65,6 k €
09/11/2010
IncorporationPrivate limited company

BLUESTONE INVEST

Overview

Identity

Financials

Valuation

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

Timeline