ACTIVE

MANAGEMENT SOURCE

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Financial year 2025 · closed on 31/12/2025
Net result
-29,1 k €
-4.8% YoY
Gross margin
-17 k €
+12.7% YoY
Equity
-191,8 k €
-17.9% YoY

What does MANAGEMENT SOURCE do?

MANAGEMENT SOURCE is a Private limited company incorporated in 2011. Its main activity is: Development of building projects. Its registered office is in Herentals.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0841.141.834
Incorporation
15/11/2011
Legal form
Private limited company
Registered office
Diamantstraat (HRT) 8 box 214
2200 Herentals · FlandreSee on map
Contributed capital
6 200,00 €
Latest accounts
31/12/2025
Activities (NACE)
41102Development of building projects· main68122Buying and selling of own real estate
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 12 financial years

202520242023202220212020201920182017201520142013
Income statement
Gross margin-17 k €-19,5 k €-17,6 k €-18 k €-11,4 k €-6,1 k €-7,2 k €-3,4 k €-38,1 k €-2,3 k €-558,4 €934,1 €
EBITDA-18,2 k €-20 k €-18,1 k €-18,6 k €-11,6 k €-7,1 k €-7,8 k €-3,9 k €-38,6 k €-3,2 k €-1 k €-358,4 €
Operating result-18,2 k €-20 k €-18,1 k €-18,6 k €-11,6 k €-7,1 k €-7,8 k €-3,9 k €-38,6 k €-3,2 k €-1 k €-1,3 k €
Net result-29,1 k €-27,8 k €-22,7 k €-22,2 k €-14,9 k €-13,7 k €-12,1 k €-7 k €-39,6 k €-3,3 k €-1,1 k €-1,3 k €
Balance sheet
Equity-191,8 k €-162,7 k €-134,9 k €-112,2 k €-90 k €-75,1 k €-61,4 k €-49,3 k €-42,3 k €524,5 €3,8 k €4,9 k €
Total assets1,6 M €1,3 M €873,8 k €612,5 k €397 k €214,9 k €107,4 k €39,7 k €31,7 k €2,8 k €3,8 k €4,9 k €
Cash34,2 k €6,7 k €4 k €10,5 k €12 k €40,7 k €4,3 k €4,4 k €24,5 k €–––
Debts1,8 M €1,5 M €1 M €724,7 k €487 k €290 k €168,8 k €89 k €74 k €2,2 k €–3,4 €
Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 8 ended

Active mandates

Caspanni Participatie BO

Director · since 13 décembre 2021 · 0742.691.287

Represented by Ralph Caspanni

Active
PHD Development

Director · since 13 décembre 2021 · 0742.619.726

Represented by Philippe Deschilder

Active
Didier Clerx

Director · since 23 septembre 2020

Active
Wim Heylen

Director · since 23 septembre 2020

Active

Ended mandates

Caspanni Participatie BO

Director · since 13 décembre 2021

Represented by Ralph Caspanni

Ended
Caspanni Participatie BV

Director · since 13 décembre 2021 · 0742.691.287

Represented by Ralph Caspanni

Ended
DELISIA

Manager · since 11 décembre 2015 · 0541.865.952

Represented by Wim Heylen

Ended
DELISIA

Director · since 11 décembre 2015 · until 23 septembre 2020 · 0541.865.952

Represented by Wim Heylen

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/10/2019
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 months15 months
Filing date22/06/202623/06/202526/06/202428/06/202321/06/202217/06/2021
General meeting18/06/202619/06/202520/06/202415/06/202316/06/202217/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

13 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202518/06/202622/06/2026DutchPDF
Abridged model31/12/202419/06/202523/06/2025DutchPDF
Abridged model31/12/202320/06/202426/06/2024DutchPDF
Abridged model31/12/202215/06/202328/06/2023DutchPDF
Abridged model31/12/202116/06/202221/06/2022DutchPDF
Abridged model31/12/202017/06/202117/06/2021DutchPDF
Abridged model30/09/201926/03/202027/04/2020DutchPDF
Abridged model30/09/201828/03/201929/04/2019DutchPDF
Abridged model30/09/201729/03/201831/05/2018DutchPDF
Abridged model30/09/201630/03/201703/04/2017DutchPDF
Abridged model30/09/201521/03/201613/04/2016DutchPDF
Abridged model30/09/201426/03/201530/03/2015DutchPDF
Abridged model30/09/201327/03/201424/06/2014DutchPDF
Estimate

Indicative valuation

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 · 4 active · 8 ended

Active mandates

Caspanni Participatie BO

Director · since 13 décembre 2021 · 0742.691.287

Represented by Ralph Caspanni

Active
PHD Development

Director · since 13 décembre 2021 · 0742.619.726

Represented by Philippe Deschilder

Active
Didier Clerx

Director · since 23 septembre 2020

Active
Wim Heylen

Director · since 23 septembre 2020

Active

Ended mandates

Caspanni Participatie BO

Director · since 13 décembre 2021

Represented by Ralph Caspanni

Ended
Caspanni Participatie BV

Director · since 13 décembre 2021 · 0742.691.287

Represented by Ralph Caspanni

Ended
DELISIA

Manager · since 11 décembre 2015 · 0541.865.952

Represented by Wim Heylen

Ended
DELISIA

Director · since 11 décembre 2015 · until 23 septembre 2020 · 0541.865.952

Represented by Wim Heylen

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates05/12/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates16/12/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates05/01/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates30/07/2021
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates28/09/2020
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - BOEKJAAR
    PDF
  • Mandates28/02/2019
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates14/01/2016
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other30/11/2011
    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

Timeline

  1. 2025
    Annual accounts 2025-29,1 k €↓
  2. 2024
    Annual accounts 2024-27,8 k €↓
  3. 2023
    Annual accounts 2023-22,7 k €↓
  4. 2022
    Annual accounts 2022-22,2 k €↓
  5. 2021
    Annual accounts 2021-14,9 k €↓
  6. 2020
    Annual accounts 2020-13,7 k €↓
  7. 2019
    Annual accounts 2019-12,1 k €↓
  8. 2018
    Annual accounts 2018-7 k €↑
  9. 2017
    Annual accounts 2017-39,6 k €↓
  10. 2015
    Annual accounts 2015-3,3 k €↓
  11. 2014
    Annual accounts 2014-1,1 k €↑
  12. 2013
    Annual accounts 2013-1,3 k €
  13. 15/11/2011
    IncorporationPrivate limited company