ACTIVE

SAGEVAS

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Financial year 2025 · closed on 31/12/2025

Net result

-1,2 M €

-182.2% YoY

Revenue

22,2 M €

-31.7% YoY

Equity

18,2 M €

-6.1% YoY

Workforce

4,0 ETP

-11.1% YoY

What does SAGEVAS do?

SAGEVAS is a Public limited company incorporated in 2011. Its main activity is: Gambling and betting activities. Its registered office is in Ixelles. It employs on average 4,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0832.457.166

Incorporation

05/01/2011

Legal form

Public limited company

Registered office

Avenue Louise 209A
1050 Ixelles · BruxellesSee on map

Contributed capital

2 161 500,00 €

Latest accounts

31/12/2025

Average workforce

4,0 ETP

Activities (NACE)

92000Gambling and betting activities· main 92000Gambling and betting activities

Signals

Solid equityLow riskGood liquidityHealthy social debtsHigh revenue

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Health score

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Recommended credit limit

✦ 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
Revenue	22,2 M €	-31.7%	32,6 M €	-9.8%	36,1 M €	-11.1%	40,6 M €	-2.6%	41,7 M €	+43.4%	29,1 M €	-11.4%	32,8 M €	+8.8%	30,2 M €	+26.2%	23,9 M €	-80.4%	121,8 M €	+35.5%	89,9 M €	+55.3%	57,9 M €	+81.7%	31,8 M €		–
EBITDA	-1,8 M €	-144%	4 M €	+45.7%	2,8 M €	-35.7%	4,3 M €	-11.8%	4,9 M €	+139%	2 M €	+30.2%	1,6 M €	-40.3%	2,6 M €	+26.0%	2,1 M €	+67.7%	1,2 M €	+41.5%	880,3 k €	+58.2%	556,4 k €	+94.8%	285,7 k €	+3943%	-7,4 k €
Operating result	-675,9 k €	-123%	3 M €	+70.1%	1,7 M €	-52.7%	3,7 M €	-13.9%	4,3 M €	+169%	1,6 M €	+139%	663 k €	-56.0%	1,5 M €	+81.9%	829,4 k €	+2756%	29 k €	+122%	-134,2 k €	-3603%	-3,6 k €	-107%	55,4 k €	+845%	-7,4 k €
Net result	-1,2 M €	-182%	1,4 M €	-31.9%	2,1 M €	-54.8%	4,7 M €	+29.8%	3,6 M €	+609%	-704,2 k €	-264%	429,9 k €	-60.1%	1,1 M €	+115%	500,9 k €	+5886%	8,4 k €	+108%	-110,7 k €	-185%	130,8 k €	+322%	31 k €	+473%	-8,3 k €
Balance sheet
Equity	18,2 M €	-6.1%	19,4 M €	+8.0%	18 M €	-8.7%	19,7 M €	+30.9%	15,1 M €	+51.0%	10 M €	+32.8%	7,5 M €	+6.1%	7,1 M €	+89.6%	3,7 M €	+67.8%	2,2 M €	+0.4%	2,2 M €	-4.8%	2,3 M €	+234%	696,6 k €	+1209%	53,2 k €
Total assets	23,9 M €	-28.3%	33,4 M €	+1.1%	33 M €	-20.9%	41,7 M €	+20.8%	34,6 M €	+37.8%	25,1 M €	+29.6%	19,3 M €	+33.6%	14,5 M €	+52.5%	9,5 M €	+17.4%	8,1 M €	+61.8%	5 M €	+7.5%	4,7 M €	+96.8%	2,4 M €	+2835%	80,5 k €
Cash	2,3 M €	-48.5%	4,5 M €	+8.4%	4,2 M €	-8.8%	4,6 M €	+13.3%	4,1 M €	+20.1%	3,4 M €	+94.6%	1,7 M €	+269%	470,6 k €	-78.0%	2,1 M €	+179%	766 k €	+78.7%	428,5 k €	+144%	175,4 k €	-27.2%	240,9 k €	+904%	24 k €
Debts	5,7 M €	-59.5%	13,9 M €	-6.9%	15 M €	-31.8%	22 M €	+12.9%	19,5 M €	+29.2%	15,1 M €	+30.4%	11,6 M €	+64.6%	7 M €	+27.4%	5,5 M €	-2.9%	5,7 M €	+107%	2,7 M €	+18.8%	2,3 M €	+41.6%	1,6 M €	+5856%	27,3 k €
Other
Workforce	4,0 ETP	-11.1%	4,5 ETP	-42.3%	7,8 ETP	-20.4%	9,8 ETP	-22.2%	12,6 ETP	+8.6%	11,6 ETP	-25.6%	15,6 ETP	+5.4%	14,8 ETP	+48.0%	10,0 ETP	-9.1%	11,0 ETP	+15.8%	9,5 ETP	+111%	4,5 ETP	+200%	1,5 ETP		–

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 40 ended

Active mandates

OPEN2MARKET

Director · since 31 décembre 2025 · until 30 juin 2031 · 0888.570.280

Represented by Timothy Mastelinck

Active

FINADEL

Director · since 01 décembre 2023 · until 30 novembre 2025 · 0760.984.992

Represented by Arnaud Delmarcelle

Active

Alexis Murphy

Managing director · since 03 avril 2017 · until 31 décembre 2025

Active

Ended mandates

FINADEL

Director · since 01 décembre 2023 · 0760.984.992

Represented by Arnaud Delmarcelle

Ended

Peter Thurston

Director · since 05 juillet 2023 · until 01 décembre 2023

Ended

Pontus Lindwall

Director · since 05 juillet 2023 · until 01 décembre 2023

Ended

Axemédia

Director · since 24 juin 2022 · until 05 juillet 2023 · 0439.503.238

Represented by Philippe le Hodey

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full 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	20/07/2026	04/07/2025	04/07/2024	26/06/2023	20/07/2022	30/07/2021
General meeting	29/06/2026	30/06/2025	28/06/2024	05/06/2023	24/06/2022	30/06/2021
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
Full model	31/12/2025	29/06/2026	20/07/2026	French	PDF
Full model	31/12/2024	30/06/2025	04/07/2025	French	PDF
Full model	31/12/2023	28/06/2024	04/07/2024	French	PDF
Full model	31/12/2022	05/06/2023	26/06/2023	French	PDF
Full model	31/12/2021	24/06/2022	20/07/2022	French	PDF
Full model	31/12/2020	30/06/2021	30/07/2021	French	PDF
Full model	31/12/2019	24/06/2020	30/07/2020	French	PDF
Full model	31/12/2018	05/07/2019	24/07/2019	French	PDF
Full model	31/12/2017	21/06/2018	26/07/2018	French	PDF
Full model	31/12/2016	06/06/2017	13/07/2017	French	PDF
Full model	31/12/2015	06/06/2016	13/07/2016	French	PDF
Full model	31/12/2014	25/06/2015	15/07/2015	French	PDF
Full model	31/12/2013	30/06/2014	13/08/2014	French	PDF
Full model	31/12/2012	03/06/2013	18/07/2013	French	PDF
Full model	31/12/2011	04/06/2012	26/06/2012	French	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 40 ended

Active mandates

OPEN2MARKET

Director · since 31 décembre 2025 · until 30 juin 2031 · 0888.570.280

Represented by Timothy Mastelinck

Active

FINADEL

Director · since 01 décembre 2023 · until 30 novembre 2025 · 0760.984.992

Represented by Arnaud Delmarcelle

Active

Alexis Murphy

Managing director · since 03 avril 2017 · until 31 décembre 2025

Active

Ended mandates

FINADEL

Director · since 01 décembre 2023 · 0760.984.992

Represented by Arnaud Delmarcelle

Ended

Peter Thurston

Director · since 05 juillet 2023 · until 01 décembre 2023

Ended

Pontus Lindwall

Director · since 05 juillet 2023 · until 01 décembre 2023

Ended

Axemédia

Director · since 24 juin 2022 · until 05 juillet 2023 · 0439.503.238

Represented by Philippe le Hodey

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/08/2026
Nomination commissaire - procuration
PDF
Mandates08/04/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates29/12/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates15/12/2025
DEMISSIONS, NOMINATIONS
PDF
Registered office28/10/2024
SIEGE SOCIAL
PDF
Mandates07/05/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates28/02/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates25/07/2023
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 2025-1,2 M €↓
2024
Annual accounts 20241,4 M €↓
2023
Annual accounts 20232,1 M €↓
2022
Annual accounts 20224,7 M €↑
2021
Annual accounts 20213,6 M €↑
2020
Annual accounts 2020-704,2 k €↓
2019
Annual accounts 2019429,9 k €↓
2018
Annual accounts 20181,1 M €↑
2017
Annual accounts 2017500,9 k €↑
2016
Annual accounts 20168,4 k €↑
2015
Annual accounts 2015-110,7 k €↓
2014
Annual accounts 2014130,8 k €↑
2013
Annual accounts 201331 k €↑
2011
Annual accounts 2011-8,3 k €
05/01/2011
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

SAGEVAS

Overview

What does SAGEVAS 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