ACTIVE

HIPAL

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Financial year 2025 · closed on 31/12/2025

Net result

457,1 k €

+1855.4% YoY

Gross margin

65,8 k €

-0.7% YoY

Equity

2,5 M €

+18.0% YoY

What does HIPAL do?

HIPAL is a Private limited company incorporated in 2003. Its main activity is: Management consultancy activities. Its registered office is in Mouscron.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0860.605.378

Incorporation

19/09/2003

Legal form

Private limited company

Registered office

Rue de la Rouge Croix(D) 19 box A
7711 Mouscron · Wallonie

Contributed capital

6 200,00 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities 47781Other retail sale of new goods in specialised stores 47990Other retail sale not in stores, stalls or markets

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	65,8 k €	-0.7%	66,2 k €	-21.7%	84,6 k €	+14.3%	74,1 k €	+0.5%	73,7 k €	+28.3%	57,4 k €	+3.4%	55,5 k €	+22.9%	45,2 k €	-51.7%	93,5 k €	+69.3%	55,2 k €	-20.2%	69,2 k €	+40.3%	49,3 k €	+26.7%	39 k €	-34.5%	59,4 k €	+7.3%	55,4 k €	-4.8%	58,2 k €	+31.5%	44,2 k €	-10.9%	49,6 k €	-38.6%	80,8 k €	+339%	18,4 k €
EBITDA	62,4 k €	+5.5%	59,1 k €	-27.4%	81,4 k €	+14.1%	71,3 k €	+2.6%	69,5 k €	+27.4%	54,6 k €	+3.1%	52,9 k €	+24.4%	42,6 k €	-53.2%	91 k €	+72.2%	52,8 k €	-20.9%	66,8 k €	+42.8%	46,8 k €	+28.2%	36,5 k €	-35.0%	56,1 k €	+6.7%	52,6 k €	-4.1%	54,9 k €	+32.8%	41,3 k €	-11.8%	46,8 k €	-40.0%	78 k €	+342%	17,7 k €
Operating result	55,7 k €	+78.0%	31,3 k €	-39.9%	52,1 k €	+25.8%	41,4 k €	-8.0%	45 k €	+36.7%	32,9 k €	+6.8%	30,8 k €	+53.8%	20 k €	-70.9%	68,9 k €	+155%	27 k €	-33.3%	40,5 k €	+197%	13,6 k €	+67.9%	8,1 k €	-71.2%	28,3 k €	+5.1%	26,9 k €	-14.8%	31,6 k €	+74.4%	18,1 k €	-28.3%	25,2 k €	-54.4%	55,3 k €	+405%	-18,2 k €
Net result	457,1 k €	+1855%	23,4 k €	-94.4%	418,5 k €	+1236%	31,3 k €	+5.0%	29,8 k €	-94.9%	589,2 k €	+2934%	19,4 k €	+87.6%	10,4 k €	-97.2%	367,5 k €	+233%	110,2 k €	-72.8%	405 k €	+932%	39,2 k €	+4776%	-839 €	-100%	1,2 M €	+11323%	10,7 k €	-35.9%	16,8 k €	+79.8%	9,3 k €	-19.8%	11,6 k €	-70.9%	40 k €	+251%	-26,5 k €
Balance sheet
Equity	2,5 M €	+18.0%	2,2 M €	-2.1%	2,2 M €	+9.9%	2 M €	-2.4%	2 M €	-1.5%	2,1 M €	+19.5%	1,7 M €	-4.4%	1,8 M €	+0.6%	1,8 M €	+17.4%	1,5 M €	+0.7%	1,5 M €	+26.7%	1,2 M €	-6.3%	1,3 M €	-0.1%	1,3 M €	+1982%	61,9 k €	-26.7%	84,5 k €	+24.8%	67,7 k €	-1.0%	68,4 k €	+20.5%	56,8 k €	+238%	16,8 k €
Total assets	2,6 M €	+14.1%	2,3 M €	-2.6%	2,4 M €	+9.7%	2,1 M €	-4.4%	2,2 M €	-9.4%	2,5 M €	+33.8%	1,9 M €	-5.3%	2 M €	-4.9%	2,1 M €	+14.1%	1,8 M €	-0.6%	1,8 M €	-5.6%	1,9 M €	+1.7%	1,9 M €	-0.9%	1,9 M €	+451%	345,1 k €	+1.0%	341,8 k €	-4.2%	357 k €	-3.2%	368,7 k €	-5.2%	388,8 k €	+6.0%	366,8 k €
Cash	645,8 k €	+176%	233,9 k €	+52.1%	153,8 k €	-66.0%	452,2 k €	-15.7%	536,8 k €	-38.3%	870,5 k €	+291%	222,8 k €	-26.0%	301,1 k €	-30.9%	435,4 k €	+80.9%	240,7 k €	+6.6%	225,8 k €	+133%	96,8 k €	+326%	22,7 k €	-7.8%	24,6 k €	-18.4%	30,2 k €	-36.7%	47,7 k €	+105%	23,3 k €	-55.2%	52,1 k €	-7.5%	56,3 k €	+89.6%	29,7 k €
Debts	75,8 k €	-46.2%	140,7 k €	-9.5%	155,4 k €	+6.0%	146,6 k €	-25.1%	195,8 k €	-50.9%	398,4 k €	+257%	111,7 k €	-17.2%	134,9 k €	-45.0%	245,4 k €	-5.3%	259,2 k €	-7.5%	280,3 k €	-60.5%	709,6 k €	+19.0%	596,1 k €	-2.6%	612,2 k €	+117%	282,7 k €	+10.1%	256,7 k €	-11.1%	288,7 k €	-3.7%	299,7 k €	-8.5%	327,5 k €	-6.3%	349,4 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

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

Active mandates

HILDE LEPLAE

Mandate

Active

LIEVEN PAUWELYN

Mandate

Active

Ended mandates

HILDE LEPLAE

Manager · since 15 septembre 2003

Ended

LIEVEN PAUWELYN

Manager · since 15 septembre 2003

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	15/07/2026	30/06/2025	12/07/2024	18/07/2023	28/06/2022	13/07/2021
General meeting	16/06/2026	17/06/2025	18/06/2024	20/06/2023	21/06/2022	15/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	16/06/2026	15/07/2026	Dutch	PDF
Abridged model	31/12/2024	17/06/2025	30/06/2025	Dutch	PDF
Abridged model	31/12/2023	18/06/2024	12/07/2024	Dutch	PDF
Abridged model	31/12/2022	20/06/2023	18/07/2023	Dutch	PDF
Abridged model	31/12/2021	21/06/2022	28/06/2022	Dutch	PDF
Abridged model	31/12/2020	15/06/2021	13/07/2021	Dutch	PDF
Abridged model	31/12/2019	30/06/2020	23/07/2020	Dutch	PDF
Abridged model	31/12/2018	18/06/2019	08/07/2019	Dutch	PDF
Abridged model	31/12/2017	19/06/2018	09/07/2018	Dutch	PDF
Abridged model	31/12/2016	20/06/2017	18/07/2017	Dutch	PDF
Micro model	31/12/2016	20/06/2017	10/07/2017	Dutch	PDF
Abridged model	31/12/2015	21/06/2016	28/06/2016	Dutch	PDF
Abridged model	31/12/2014	16/06/2015	30/06/2015	Dutch	PDF
Abridged model	31/12/2013	17/06/2014	07/07/2014	Dutch	PDF
Abridged model	31/12/2012	18/06/2013	11/07/2013	Dutch	PDF
Abridged model	31/12/2011	19/06/2012	18/07/2012	Dutch	PDF
Abridged model	31/12/2010	21/06/2011	15/07/2011	Dutch	PDF
Abridged model	31/12/2009	15/06/2010	08/07/2010	Dutch	PDF
Abridged model	31/12/2008	16/06/2009	26/06/2009	Dutch	PDF
Abridged model	31/12/2007	17/06/2008	20/06/2008	Dutch	PDF
Abridged model	31/12/2006	19/06/2007	29/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 2 ended

Active mandates

HILDE LEPLAE

Mandate

Active

LIEVEN PAUWELYN

Mandate

Active

Ended mandates

HILDE LEPLAE

Manager · since 15 septembre 2003

Ended

LIEVEN PAUWELYN

Manager · since 15 septembre 2003

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates02/02/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Other31/07/2008
OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office09/02/2007
MAATSCHAPPELIJKE ZETEL
PDF
Other26/09/2003
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 2025457,1 k €↑
2024
Annual accounts 202423,4 k €↓
2023
Annual accounts 2023418,5 k €↑
2022
Annual accounts 202231,3 k €↑
2021
Annual accounts 202129,8 k €↓
2020
Annual accounts 2020589,2 k €↑
2019
Annual accounts 201919,4 k €↑
2018
Annual accounts 201810,4 k €↓
2017
Annual accounts 2017367,5 k €↑
2016
Annual accounts 2016110,2 k €↓
2015
Annual accounts 2015405 k €↑
2014
Annual accounts 201439,2 k €↑
2013
Annual accounts 2013-839 €↓
2012
Annual accounts 20121,2 M €↑
2011
Annual accounts 201110,7 k €↓
2010
Annual accounts 201016,8 k €↑
2009
Annual accounts 20099,3 k €↓
2008
Annual accounts 200811,6 k €↓
2007
Annual accounts 200740 k €↑
2006
Annual accounts 2006-26,5 k €
19/09/2003
IncorporationPrivate 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

HIPAL

Overview

What does HIPAL do?

Trend over 20 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