ACTIVE

WESEARCH

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Financial year 2025 · closed on 31/12/2025

Net result

294 k €

+24.6% YoY

Gross margin

5,2 M €

+6.1% YoY

Equity

5,2 M €

+6.0% YoY

Workforce

91,5 ETP

+1.6% YoY

What does WESEARCH do?

WESEARCH is a Public limited company incorporated in 2011. Its main activity is: Temporary employment agency activities. Its registered office is in Mechelen. It employs on average 91,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0840.050.880

Incorporation

23/09/2011

Legal form

Public limited company

Registered office

Haverwerf 10
2800 Mechelen · FlandreSee on map

Contributed capital

120 000,00 €

Latest accounts

31/12/2025

Average workforce

91,5 ETP

Activities (NACE)

78200Temporary employment agency activities· main 78200Temporary employment agency activities

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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		2012
Income statement
Gross margin	5,2 M €	+6.1%	4,9 M €	-7.2%	5,3 M €	-5.4%	5,6 M €	+23.8%	4,5 M €	-9.8%	5 M €	+1.3%	5 M €	-7.7%	5,4 M €	+7.2%	5 M €	-4.5%	5,3 M €	+14.4%	4,6 M €	+22.6%	3,8 M €	+25.7%	3 M €	+33.5%	2,2 M €
EBITDA	346,1 k €	+28.9%	268,5 k €	-64.1%	747 k €	-19.6%	929,6 k €	+23.0%	755,5 k €	-16.6%	905,4 k €	-5.1%	953,9 k €	-4.0%	993,3 k €	+29.6%	766,7 k €	+1.0%	759,4 k €	+128%	333,2 k €	-2.9%	343,3 k €	+12.8%	304,3 k €	+84.0%	165,4 k €
Operating result	321,7 k €	+30.6%	246,3 k €	-65.7%	718,7 k €	-21.0%	910,2 k €	+24.5%	731 k €	-18.9%	901,1 k €	-5.4%	952,7 k €	-3.8%	990,7 k €	+30.1%	761,7 k €	+1.0%	754,4 k €	+129%	329,6 k €	-2.8%	339,3 k €	+12.6%	301,4 k €	+89.0%	159,5 k €
Net result	294 k €	+24.6%	235,9 k €	-58.8%	572,6 k €	-16.9%	688,9 k €	+30.1%	529,5 k €	-22.1%	679,4 k €	-8.7%	744,5 k €	+5.4%	706,3 k €	+39.5%	506,2 k €	+0.7%	502,7 k €	+54.1%	326,3 k €	-0.2%	326,9 k €	+14.0%	286,7 k €	+87.3%	153 k €
Balance sheet
Equity	5,2 M €	+6.0%	4,9 M €	+5.0%	4,7 M €	+14.0%	4,1 M €	+20.2%	3,4 M €	+18.4%	2,9 M €	+30.8%	2,2 M €	+28.9%	1,7 M €	+62.4%	1,1 M €	+76.6%	595,7 k €	+317%	142,9 k €	+0.9%	141,6 k €	+1.4%	139,7 k €	+5.0%	133 k €
Total assets	6,3 M €	+7.6%	5,9 M €	+5.0%	5,6 M €	+10.6%	5,1 M €	+19.1%	4,3 M €	+9.0%	3,9 M €	+18.9%	3,3 M €	+19.6%	2,8 M €	+40.0%	2 M €	+5.9%	1,9 M €	+58.1%	1,2 M €	+10.1%	1,1 M €	+27.8%	833,8 k €	+30.0%	641,2 k €
Cash	28,8 k €	-79.5%	140,3 k €	+342%	31,8 k €	-96.4%	886,2 k €	-75.8%	3,7 M €	+15.5%	3,2 M €	+288%	818,5 k €	+87.4%	436,7 k €	-73.1%	1,6 M €	+10.4%	1,5 M €	+160%	566,4 k €	-4.5%	593 k €	+679%	76,1 k €	+59.8%	47,6 k €
Debts	1,1 M €	+15.7%	980 k €	+5.2%	931,9 k €	-4.2%	972,9 k €	+14.7%	847,9 k €	-17.4%	1 M €	-5.3%	1,1 M €	+4.2%	1 M €	+14.1%	911,5 k €	-27.5%	1,3 M €	+24.4%	1 M €	+13.9%	887,3 k €	+31.7%	673,9 k €	+33.1%	506,4 k €
Other
Workforce	91,5 ETP	+1.6%	90,1 ETP	-9.4%	99,5 ETP	-16.7%	119,4 ETP	+47.0%	81,2 ETP	-24.4%	107,4 ETP	+8.7%	98,8 ETP	-14.8%	116,0 ETP	+6.9%	108,5 ETP	-48.2%	209,5 ETP	+81.9%	115,2 ETP	+24.3%	92,7 ETP	-35.2%	143,0 ETP	+49.6%	95,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 19 ended

Active mandates

I CAN

Managing director · since 27 juin 2023 · until 28 juin 2029 · 0466.633.544

Represented by Xavier Verhoestraete

Active

M.G.R.

Managing director · since 27 juin 2023 · until 28 juin 2029 · 0434.822.789

Represented by Guy Reyniers

Active

Ended mandates

I CAN

Managing director · since 27 juin 2023 · until 28 juin 2029 · 0466.633.544

Represented by Xavier Verhoestraete

Ended

M.G.R.

Managing director · since 27 juin 2023 · until 28 juin 2029 · 0434.822.789

Represented by Guy Reyniers

Ended

M.G.R.

Managing director · since 01 octobre 2020 · until 30 juin 2023 · 0434.822.789

Represented by Guy Reyniers

Ended

M.G.R.

Managing director · since 01 octobre 2020 · until 30 juin 2023 · 0434.822.789

Represented by Guy REYNIERS

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	13/07/2026	16/07/2025	28/06/2024	19/07/2023	24/08/2022	21/07/2021
General meeting	23/06/2026	24/06/2025	25/06/2024	27/06/2023	28/06/2022	22/06/2021
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
Abridged model	31/12/2025	23/06/2026	13/07/2026	Dutch	PDF
Abridged model	31/12/2024	24/06/2025	16/07/2025	Dutch	PDF
Abridged model	31/12/2023	25/06/2024	28/06/2024	Dutch	PDF
Abridged model	31/12/2022	27/06/2023	19/07/2023	Dutch	PDF
Abridged model	31/12/2021	28/06/2022	24/08/2022	Dutch	PDF
Abridged model	31/12/2020	22/06/2021	21/07/2021	Dutch	PDF
Abridged model	31/12/2019	23/06/2020	07/10/2020	Dutch	PDF
Abridged model	31/12/2018	28/06/2019	27/07/2019	Dutch	PDF
Abridged model	31/12/2017	28/06/2018	30/08/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	29/07/2017	Dutch	PDF
Abridged model	31/12/2015	02/05/2016	25/07/2016	Dutch	PDF
Abridged model	31/12/2014	13/04/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	24/06/2014	30/08/2014	Dutch	PDF
Abridged model	31/12/2012	25/06/2013	31/08/2013	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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 · 2 active · 19 ended

Active mandates

I CAN

Managing director · since 27 juin 2023 · until 28 juin 2029 · 0466.633.544

Represented by Xavier Verhoestraete

Active

M.G.R.

Managing director · since 27 juin 2023 · until 28 juin 2029 · 0434.822.789

Represented by Guy Reyniers

Active

Ended mandates

I CAN

Managing director · since 27 juin 2023 · until 28 juin 2029 · 0466.633.544

Represented by Xavier Verhoestraete

Ended

M.G.R.

Managing director · since 27 juin 2023 · until 28 juin 2029 · 0434.822.789

Represented by Guy Reyniers

Ended

M.G.R.

Managing director · since 01 octobre 2020 · until 30 juin 2023 · 0434.822.789

Represented by Guy Reyniers

Ended

M.G.R.

Managing director · since 01 octobre 2020 · until 30 juin 2023 · 0434.822.789

Represented by Guy REYNIERS

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates15/12/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/12/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/10/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING - MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Registered office01/02/2012
MAATSCHAPPELIJKE ZETEL
PDF
Other19/10/2011
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 2025294 k €↑
2024
Annual accounts 2024235,9 k €↓
2023
Annual accounts 2023572,6 k €↓
2022
Annual accounts 2022688,9 k €↑
2021
Annual accounts 2021529,5 k €↓
2020
Annual accounts 2020679,4 k €↓
2019
Annual accounts 2019744,5 k €↑
2019
Name changeWESEARCH
2018
Annual accounts 2018706,3 k €↑
2017
Annual accounts 2017506,2 k €↑
2016
Annual accounts 2016502,7 k €↑
2015
Annual accounts 2015326,3 k €↓
2014
Annual accounts 2014326,9 k €↑
2013
Annual accounts 2013286,7 k €↑
2012
Annual accounts 2012153 k €
2012
Name changeSKILLFLEX
23/09/2011
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

WESEARCH

Overview

What does WESEARCH 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