ACTIVE

Phinest

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Financial year 2025 · closed on 31/12/2025
Net result
516 k €
+130.2% YoY
Gross margin
5 M €
+26.2% YoY
Equity
2,1 M €
+31.6% YoY
Workforce
48,3 ETP
+13.6% YoY

What does Phinest do?

Phinest is a Private limited company incorporated in 2012. Its main activity is: Management consultancy activities. Its registered office is in Watermael-Boitsfort. It employs on average 48,3 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0842.844.282
Incorporation
18/01/2012
Legal form
Private limited company
Registered office
Boulevard du Souverain 24
1170 Watermael-Boitsfort · BruxellesSee on map
Contributed capital
30 000,00 €
Latest accounts
31/12/2025
Average workforce
48,3 ETP
Activities (NACE)
70200Management consultancy activities· main70210Public relations and communication activities70220Business and other management consultancy activities73300Advertising and market research62010Computer programming activities62020Computer consultancy activities+9
Joint committees (2)
  • 200
  • 2000
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 14 financial years

20252024202320222021202020192018201720162015201420132012
Income statement
Gross margin5 M €4 M €3,5 M €3 M €3,3 M €2,3 M €2,4 M €2 M €1,6 M €1,9 M €1,6 M €1,6 M €792,1 k €82,4 k €
EBITDA783,5 k €425 k €244,9 k €564,8 k €1,1 M €428,9 k €536,4 k €546,2 k €553,7 k €715,1 k €697,5 k €625,6 k €406,3 k €61,6 k €
Operating result787,6 k €381,4 k €226,3 k €545 k €1,1 M €416 k €525,2 k €534,6 k €546,1 k €700 k €684,1 k €618,9 k €401,1 k €56 k €
Net result516 k €224,2 k €122,5 k €356,7 k €855,4 k €349,2 k €457,1 k €469,9 k €444,5 k €579,6 k €423,6 k €390,9 k €258,3 k €38,4 k €
Balance sheet
Equity2,1 M €1,6 M €1,4 M €1,3 M €1,2 M €789 k €714,7 k €657,7 k €587,7 k €543,3 k €273,7 k €192,6 k €101,7 k €43,4 k €
Total assets4 M €3,3 M €3 M €2,7 M €2,8 M €2 M €1,9 M €2 M €1,5 M €1,8 M €1,4 M €1,3 M €787,4 k €223,3 k €
Cash1,1 M €733,3 k €620,9 k €592,2 k €1,4 M €741,8 k €718,6 k €686,9 k €541,2 k €933,9 k €531,8 k €711 k €413,6 k €53,3 k €
Debts1,8 M €1,7 M €1,5 M €1,3 M €1,5 M €1,1 M €1,2 M €1,3 M €944,8 k €1,2 M €1,1 M €1,1 M €679,3 k €179,9 k €
Other
Workforce48,3 ETP42,5 ETP40,3 ETP33,5 ETP29,8 ETP25,9 ETP28,1 ETP20,8 ETP16,6 ETP19,8 ETP16,5 ETP15,9 ETP6,9 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 · 3 active · 9 ended

Active mandates

JMA Management Consulting

Director · since 04 août 2022 · until 04 août 2028 · 0643.651.814

Represented by MAZUY Julien

Active
NTO Consulting

Director · since 04 août 2022 · until 08 avril 2028 · 0677.776.513

Represented by TOUAUX Nicolas

Active
D2X EXPERTISE

Director · since 19 juillet 2022 · until 19 juillet 2028 · 0788.886.350

Represented by Anthony DUBOST

Active

Ended mandates

NTO Consulting

Director · since 04 août 2022 · until 04 août 2028 · 0677.776.513

Represented by TOUAUX NICOLAS

Ended
NTO Consulting

Director · since 29 juin 2017 · 0677.776.513

Represented by Nicolas Touaux

Ended
JMA Management Consulting

Director · 0643.651.814

Represented by Julien Mazuy

Ended
JMA Management Consulting

Director · 0643.651.814

Represented by Julien Mazuy

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
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 date22/06/202615/07/202519/07/202406/06/202319/07/202223/08/2021
General meeting21/04/202626/05/202524/05/202402/05/202324/06/202225/06/2021
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

14 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202521/04/202622/06/2026FrenchPDF
Abridged model31/12/202426/05/202515/07/2025FrenchPDF
Abridged model31/12/202324/05/202419/07/2024FrenchPDF
Abridged model31/12/202202/05/202306/06/2023FrenchPDF
Abridged model31/12/202124/06/202219/07/2022FrenchPDF
Abridged model31/12/202025/06/202123/08/2021FrenchPDF
Abridged model31/12/201926/05/202024/08/2020FrenchPDF
Abridged model31/12/201828/06/201913/08/2019FrenchPDF
Abridged model31/12/201729/06/201806/08/2018FrenchPDF
Abridged model31/12/201630/06/201729/08/2017FrenchPDF
Abridged model31/12/201524/06/201626/08/2016FrenchPDF
Abridged model31/12/201429/06/201514/07/2015FrenchPDF
Abridged model31/12/201319/06/201419/06/2014FrenchPDF
Abridged model31/12/201228/06/201328/06/2013FrenchPDF
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 · 3 active · 9 ended

Active mandates

JMA Management Consulting

Director · since 04 août 2022 · until 04 août 2028 · 0643.651.814

Represented by MAZUY Julien

Active
NTO Consulting

Director · since 04 août 2022 · until 08 avril 2028 · 0677.776.513

Represented by TOUAUX Nicolas

Active
D2X EXPERTISE

Director · since 19 juillet 2022 · until 19 juillet 2028 · 0788.886.350

Represented by Anthony DUBOST

Active

Ended mandates

NTO Consulting

Director · since 04 août 2022 · until 04 août 2028 · 0677.776.513

Represented by TOUAUX NICOLAS

Ended
NTO Consulting

Director · since 29 juin 2017 · 0677.776.513

Represented by Nicolas Touaux

Ended
JMA Management Consulting

Director · 0643.651.814

Represented by Julien Mazuy

Ended
JMA Management Consulting

Director · 0643.651.814

Represented by Julien Mazuy

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates28/08/2026
    Démission administrateurs
    PDF
  • Mandates02/03/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates13/09/2022
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
    PDF
  • Registered office19/04/2021
    SIEGE SOCIAL - ADRESSE AUTRE QUE SIEGE SOCIAL
    PDF
  • Registered office06/11/2020
    SIEGE SOCIAL - MODIFICATION FORME JURIDIQUE
    PDF
  • Mandates03/08/2017
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates31/03/2017
    DEMISSIONS, NOMINATIONS
    PDF
  • Other31/01/2012
    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

Timeline

  1. 2025
    Annual accounts 2025516 k €↑
  2. 2024
    Annual accounts 2024224,2 k €↑
  3. 2023
    Annual accounts 2023122,5 k €↓
  4. 2022
    Annual accounts 2022356,7 k €↓
  5. 2021
    Annual accounts 2021855,4 k €↑
  6. 2020
    Annual accounts 2020349,2 k €↓
  7. 2019
    Annual accounts 2019457,1 k €↓
  8. 2018
    Annual accounts 2018469,9 k €↑
  9. 2017
    Annual accounts 2017444,5 k €↓
  10. 2016
    Annual accounts 2016579,6 k €↑
  11. 2015
    Annual accounts 2015423,6 k €↑
  12. 2014
    Annual accounts 2014390,9 k €↑
  13. 2013
    Annual accounts 2013258,3 k €↑
  14. 2012
    Annual accounts 201238,4 k €
  15. 18/01/2012
    IncorporationPrivate limited company