ACTIVE

REFERENCES

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Financial year 2025 · Closed on 31/12/2025

Net result-50,7 k €-306,4 %over 1 year
Gross margin1,1 M €-24,4 %over 1 year
Equity168,2 k €-23,2 %over 1 year
Workforce16,0 ETP-19,6 %over 1 year

Identity

Source · BCE/KBO

REFERENCES is a Public limited company incorporated in 2011. Its main activity is: Media representation. Its registered office is in Bruxelles. It employs on average 16,0 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0839.044.852
Incorporation
06/09/2011
Legal form
Public limited company
Registered office
Rue Royale 100
1000 Bruxelles · BruxellesSee on map
Contributed capital
100 000,00 €
Latest accounts
31/12/2025
Average workforce
16,0 ETP
Joint committees (2)
  • 130
  • 200
Signals
Good liquidityHealthy social debts

Financials

Source · NBB, 14 filings

Trend over 14 financial years

20252024202320222021
Income statement
Gross margin1,1 M €1,5 M €1,7 M €1,6 M €1 M €
EBITDA-93,8 k €31,5 k €91,1 k €28,3 k €102,4 k €
Operating result-56,1 k €-1,3 k €10,5 k €29,1 k €96,1 k €
Net result-50,7 k €24,6 k €32,1 k €16,3 k €68,4 k €
Balance sheet
Equity168,2 k €218,9 k €194,3 k €162,3 k €146 k €
Total assets917,2 k €1 M €1,6 M €1,4 M €1,2 M €
Cash16,4 k €19,2 k €–––
Debts572,9 k €647,4 k €1 M €819,3 k €683,4 k €
Other
Workforce16,0 ETP19,9 ETP21,0 ETP21,4 ETP13,3 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 4 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Bernard MARCHANT
Director01/09/2011 → 02/06/2026
Pierre LEERSCHOOL
Managing director26/11/2012 → 02/06/2026
Thierry HUGOT
Director01/09/2011 → 02/06/2026

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Pascal VAN DER BIEST
Director06/06/2017 → 30/11/2020
Eric SCHONBRODT
Managing director03/06/2014 → 2016 accounts

Other companies at this address

Rue Royale 100 1000 Bruxelles
CompanyCBE no.
Auxiliaire Rossel● Active
0403.538.014
Belgian News Media● Active
0407.273.207
BELGIAN PUBLISHING EXPERIENCE● Active
1022.975.064
Caisse de Retraite du Personnel du Soir et de l'Agence Rossel● Active
0410.589.122
COACH&RACE● Active
0690.920.211
COPIEPRESSE● Active
0471.612.218
CTR - MEDIA● Active
0432.916.146
EDITIONS CINE - REVUE● Active
0450.382.381
eFluenz● Active
0703.907.224
GROUPE VLAN● Active
0403.513.367
GROUPE VLAN REAL ESTATE● Active
0804.432.975
Immovlan● Active
0761.369.034
KONTNU APP● Active
1022.230.243
LA PRESSE.be-ALLIANCE DES MEDIAS D'INFORMATION● Active
0467.899.096
Les Editions rurales - De Landelijke Uitgeverijen● Active
0403.502.578
Look Live Media● Active
0654.728.620
MMB CONSULT● Active
1008.057.355
NET EVENTS● Active
0472.775.030
Oeuvres du Soir● Active
0454.353.839
PACRINA● Active
0875.161.417

Full financial information

Source · NBB
202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date03/06/202606/06/202519/06/202427/06/202304/07/202201/07/2021
General meeting02/06/202603/06/202504/06/202406/06/202307/06/202201/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 14 filings
ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202502/06/202603/06/2026FrenchPDF
Abridged model31/12/202403/06/202506/06/2025FrenchPDF
Abridged model31/12/202304/06/202419/06/2024FrenchPDF
Abridged model31/12/202206/06/202327/06/2023FrenchPDF
Abridged model31/12/202107/06/202204/07/2022FrenchPDF
Abridged model31/12/202001/06/202101/07/2021FrenchPDF
Abridged model31/12/201902/06/202027/08/2020FrenchPDF
Abridged model31/12/201804/06/201926/08/2019FrenchPDF
Abridged model31/12/201705/06/201830/08/2018FrenchPDF
Abridged model31/12/201606/06/201712/06/2017FrenchPDF
Full model31/12/201507/06/201618/07/2016FrenchPDF
Full model31/12/201402/06/201518/08/2015FrenchPDF
Full model31/12/201303/06/201425/07/2014FrenchPDF
Full model31/12/201204/06/201326/08/2013FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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.

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 4 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Bernard MARCHANT
Director01/09/2011 → 02/06/2026
Pierre LEERSCHOOL
Managing director26/11/2012 → 02/06/2026
Thierry HUGOT
Director01/09/2011 → 02/06/2026

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Pascal VAN DER BIEST
Director06/06/2017 → 30/11/2020
Eric SCHONBRODT
Managing director03/06/2014 → 2016 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates06/11/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates29/08/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Other27/12/2022
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates14/12/2020
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates17/12/2018
    DENOMINATION
    PDF
  • Mandates06/07/2017
    SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates25/04/2017
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates03/12/2014
    DEMISSIONS, NOMINATIONS
    PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts
Year
Identity
Incorporation
Name
Registered office
Annual accounts
Filings14 filings
Mandates
Pierre LEERSCHOOL
Thierry HUGOT
Bernard MARCHANT
Pascal VAN DER BIEST
Eric SCHONBRODT
GREEN B
Ines BARRIUSO
2011201220132014201520162017201820192020202120222023202420252026
REFERENCES
Rue Royale 100, 1000 Brussels
Managing director
Director
Director
Director
Managing director
Director
CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE
Registered addressPeriodSource
Rue Royale 100, 1000 BrusselsCurrent
accounts 2021 → 2025
Accounts 2025 · 2026-00138109

Company names

Source · NBB annual accounts, CBE
NamePeriodSource
REFERENCESCurrent
accounts 2021 → 2025
Accounts 2025 · 2026-00138109

Events

  1. 2025
    Annual accounts 2025-50,7 k €↓
  2. 2024
    Annual accounts 202424,6 k €↓
  3. 2023
    Annual accounts 202332,1 k €↑
  4. 2022
    Annual accounts 202216,3 k €↓
  5. 2021
    Annual accounts 202168,4 k €↑
  6. 2020
    Annual accounts 2020-27,8 k €↓
  7. 2019
    Annual accounts 2019-22,2 k €↓
  8. 2018
    Annual accounts 201864 k €↑
  9. 2017
    Annual accounts 2017-27,6 k €↓
  10. 2016
    Annual accounts 201619,2 k €↑
  11. 2015
    Annual accounts 20154,9 k €↓
  12. 2014
    Annual accounts 2014260,5 k €↑
  13. 2013
    Annual accounts 2013177 k €↑
  14. 2012
    Annual accounts 2012-470,2 k €
  15. 06/09/2011
    IncorporationPublic limited company