ACTIVE

NET SYSTEM

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Financial year 2025 · closed on 31/12/2025

Net result

10,8 k €

-84.6% YoY

Gross margin

34,8 k €

-71.2% YoY

Equity

383,8 k €

-5.1% YoY

What does NET SYSTEM do?

NET SYSTEM is a Private company with limited liability incorporated in 2010. Its main activity is: Computer consultancy activities. Its registered office is in Waimes.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0832.150.231

Incorporation

23/12/2010

Legal form

Private company with limited liability

Registered office

Rue de l'Abbé Toussaint,Ovifat 39
4950 Waimes · WallonieSee on map

Contributed capital

14 260,00 €

Latest accounts

31/12/2025

Activities (NACE)

62020Computer consultancy activities· main 62200Computer programming, consultancy and related activities 43211Electrical installation 43211Electrical installation 62010Computer programming activities 62100Computer programming, consultancy and related activities+6

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2011
Income statement
Gross margin	34,8 k €	-71.2%	120,9 k €	+40.4%	86,1 k €	+2.0%	84,4 k €	-5.7%	89,5 k €	-51.8%	185,6 k €	+71.8%	108,0 k €	-25.9%	145,7 k €	+20.0%	121,4 k €	+35.1%	89,9 k €	+7.8%	83,4 k €	-7.3%	90,0 k €	+19.6%	75,2 k €	+84.1%	40,9 k €
EBITDA	30,7 k €	-73.2%	114,6 k €	+33.1%	86,1 k €	+33.0%	64,7 k €	-24.4%	85,6 k €	-47.8%	164,1 k €	+290%	42,0 k €	-53.9%	91,1 k €	+17.1%	77,8 k €	+66.1%	46,8 k €	+14.8%	40,8 k €	-18.5%	50,1 k €	+15.4%	43,4 k €	+6.2%	40,9 k €
Operating result	17,3 k €	-83.2%	103,3 k €	+37.4%	75,2 k €	+40.0%	53,7 k €	-24.6%	71,2 k €	-46.5%	133,0 k €	+579%	19,6 k €	-70.3%	66,0 k €	+31.7%	50,1 k €	+209%	16,2 k €	-36.7%	25,6 k €	-28.8%	36,0 k €	+23.3%	29,2 k €	-11.4%	32,9 k €
Net result	10,8 k €	-84.6%	70,1 k €	+322%	16,6 k €	+892%	1,7 k €	-93.9%	27,3 k €	-64.6%	77,2 k €	+519%	12,5 k €	-71.4%	43,6 k €	+28.1%	34,0 k €	+227%	10,4 k €	-34.7%	15,9 k €	-35.3%	24,6 k €	+5.6%	23,3 k €	-21.5%	29,7 k €
Balance sheet
Equity	383,8 k €	-5.1%	404,3 k €	+21.0%	334,2 k €	+5.2%	317,6 k €	+0.5%	315,9 k €	+9.5%	288,5 k €	+36.6%	211,3 k €	+6.3%	198,8 k €	+28.1%	155,3 k €	+28.0%	121,3 k €	+9.4%	110,9 k €	+14.8%	96,6 k €	+31.2%	73,6 k €	+181%	26,2 k €
Total assets	623,6 k €	-7.2%	672,1 k €	-1.1%	679,6 k €	-13.4%	785,1 k €	+23.3%	636,5 k €	+6.0%	600,4 k €	+3.9%	577,8 k €	+3.8%	556,8 k €	+17.5%	473,8 k €	+15.8%	409,2 k €	+142%	169,2 k €	-2.3%	173,2 k €	+35.6%	127,7 k €	+101%	63,5 k €
Cash	131,3 k €	+107%	63,5 k €	+71.6%	37,0 k €	-69.7%	122,1 k €	+391%	24,9 k €	+8.6%	22,9 k €	-78.9%	108,3 k €	+46.2%	74,1 k €	-16.9%	89,2 k €	+105%	43,5 k €	-3.8%	45,2 k €	-27.8%	62,7 k €	+4.5%	59,9 k €	+156%	23,4 k €
Debts	239,6 k €	-10.5%	267,8 k €	-22.5%	345,4 k €	-26.1%	467,6 k €	+45.8%	320,6 k €	+2.8%	311,8 k €	-14.9%	366,5 k €	+2.4%	357,9 k €	+12.4%	318,5 k €	+10.6%	287,9 k €	+394%	58,3 k €	-23.6%	76,3 k €	+41.4%	54,0 k €	+44.6%	37,3 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		1,0 ETP	0.0%	1,0 ETP	+100%	0,5 ETP		–

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

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

Active mandates

CEDRIC GAVAGE

Administrator - manager · since 23 décembre 2012

Active

Ended mandates

CEDRIC GAVAGE

Manager · since 23 décembre 2010

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Abridged model	Abridged model	Micro model	Micro 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	31/07/2026	28/08/2025	26/08/2024	03/10/2023	31/08/2022	27/10/2021
General meeting	26/06/2026	26/06/2025	27/06/2024	22/06/2023	23/06/2022	24/06/2021
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

14 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	26/06/2026	31/07/2026	French	PDF
Micro model	31/12/2024	26/06/2025	28/08/2025	French	PDF
Abridged model	31/12/2023	27/06/2024	26/08/2024	French	PDF
Abridged model	31/12/2022	22/06/2023	03/10/2023	French	PDF
Micro model	31/12/2021	23/06/2022	31/08/2022	French	PDF
Micro model	31/12/2020	24/06/2021	27/10/2021	French	PDF
Micro model	31/12/2019	25/06/2020	12/11/2020	French	PDF
Micro model	31/12/2018	27/06/2019	18/09/2019	French	PDF
Micro model	31/12/2017	28/06/2018	11/09/2018	French	PDF
Micro model	31/12/2016	22/06/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	24/06/2016	09/08/2016	French	PDF
Abridged model	31/12/2014	26/06/2015	10/08/2015	French	PDF
Abridged model	31/12/2013	27/06/2014	13/08/2014	French	PDF
Abridged model	31/12/2011	29/06/2012	27/08/2012	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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 · 1 active · 1 ended

Active mandates

CEDRIC GAVAGE

Administrator - manager · since 23 décembre 2012

Active

Ended mandates

CEDRIC GAVAGE

Manager · since 23 décembre 2010

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring22/04/2025
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring15/10/2024
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Registered office29/04/2011
SIEGE SOCIAL
PDF
Other11/01/2011
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 202510,8 k €↓
2024
Annual accounts 202470,1 k €↑
2023
Annual accounts 202316,6 k €↑
2022
Annual accounts 20221,7 k €↓
2021
Annual accounts 202127,3 k €↓
2020
Annual accounts 202077,2 k €↑
2019
Annual accounts 201912,5 k €↓
2018
Annual accounts 201843,6 k €↑
2017
Annual accounts 201734,0 k €↑
2016
Annual accounts 201610,4 k €↓
2015
Annual accounts 201515,9 k €↓
2014
Annual accounts 201424,6 k €↑
2013
Annual accounts 201323,3 k €↓
2011
Annual accounts 201129,7 k €
23/12/2010
IncorporationPrivate company with limited liability

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

NET SYSTEM

Overview

What does NET SYSTEM do?

Trend over 14 financial years

Indicative valuation

Board of directors

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