ACTIVE

CLOWA

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Financial year 2025 · closed on 31/12/2025

Net result

17,8 k €

-26.7% YoY

Gross margin

47,3 k €

-16.5% YoY

Equity

226,5 k €

+8.5% YoY

What does CLOWA do?

CLOWA is a Public limited company incorporated in 2003. Its main activity is: Architectural and engineering activities; technical testing and analysis. Its registered office is in Ham-sur-Heure-Nalinnes.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0861.755.423

Incorporation

20/11/2003

Legal form

Public limited company

Registered office

Rue d'Acoz(NAL) 9 box b
6120 Ham-sur-Heure-Nalinnes · WallonieSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

71340Architectural and engineering activities; technical testing and analysis· main 74300Translation and interpretation activities 74301Translation and interpretation activities 52720Warehousing and support activities for transportation 68203Rental and operating of own or leased real estate 68203Rental and operating of own or leased real estate+4

Joint committees (1)

14904

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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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	47,3 k €	-16.5%	56,6 k €	+36.5%	41,5 k €	-2.0%	42,3 k €	+6.3%	39,8 k €	+24.9%	31,9 k €	-30.4%	45,9 k €	-5.2%	48,4 k €	+10.2%	43,9 k €	-13.7%	50,9 k €	+1.4%	50,2 k €	-9.6%	55,5 k €	-2.7%	57,1 k €	+17.2%	48,7 k €	+94.9%	25 k €	-14.7%	29,3 k €	-38.7%	47,8 k €	-3.5%	49,5 k €	+34.3%	36,9 k €	+45.9%	25,3 k €
EBITDA	40,9 k €	-20.5%	51,5 k €	+41.0%	36,5 k €	-3.4%	37,8 k €	+6.8%	35,4 k €	+28.8%	27,5 k €	-33.8%	41,5 k €	-5.9%	44,1 k €	+10.9%	39,8 k €	-14.8%	46,7 k €	+1.3%	46,1 k €	-10.5%	51,5 k €	-2.6%	52,9 k €	+19.8%	44,1 k €	+126%	19,5 k €	-19.1%	24,1 k €	-44.2%	43,3 k €	-5.6%	45,8 k €	+38.2%	33,2 k €	+53.8%	21,6 k €
Operating result	25,6 k €	-30.0%	36,6 k €	+69.1%	21,7 k €	-7.9%	23,5 k €	-5.1%	24,8 k €	+45.6%	17 k €	-45.1%	31 k €	+0.2%	30,9 k €	+19.3%	25,9 k €	-21.1%	32,8 k €	+0.6%	32,6 k €	-15.7%	38,7 k €	+2.0%	38 k €	+29.3%	29,4 k €	+1018%	2,6 k €	-65.1%	7,5 k €	-71.8%	26,7 k €	-18.1%	32,6 k €	+40.5%	23,2 k €	+99.9%	11,6 k €
Net result	17,8 k €	-26.7%	24,3 k €	+73.3%	14 k €	-20.3%	17,6 k €	+5.3%	16,7 k €	+46.2%	11,4 k €	-41.9%	19,7 k €	+4.1%	18,9 k €	+35.0%	14 k €	-19.7%	17,4 k €	-4.1%	18,2 k €	-14.0%	21,1 k €	+8.3%	19,5 k €	+180%	7 k €	-9.4%	7,7 k €	+183%	-9,2 k €	-262%	5,7 k €	+52.4%	3,7 k €	-42.2%	6,5 k €	+206%	-6,1 k €
Balance sheet
Equity	226,5 k €	+8.5%	208,7 k €	+5.2%	198,4 k €	-10.7%	222,1 k €	+0.7%	220,5 k €	+0.5%	219,5 k €	+5.5%	208,1 k €	+10.4%	188,4 k €	+11.1%	169,5 k €	+9.0%	155,5 k €	+11.3%	139,8 k €	+14.9%	121,6 k €	+21.0%	100,5 k €	+24.1%	81 k €	+9.4%	74 k €	+11.6%	66,4 k €	-12.2%	75,6 k €	+8.2%	69,9 k €	+5.7%	66,2 k €	+10.9%	59,7 k €
Total assets	231,2 k €	-9.5%	255,3 k €	+1.2%	252,2 k €	-9.8%	279,7 k €	+18.0%	237 k €	+7.8%	219,8 k €	+5.5%	208,3 k €	+5.7%	197,1 k €	-5.1%	207,5 k €	-9.3%	228,8 k €	-6.5%	244,8 k €	-7.2%	263,8 k €	-3.4%	273 k €	-1.8%	278,1 k €	-23.1%	361,7 k €	-15.4%	427,5 k €	-7.2%	460,8 k €	+10.7%	416,4 k €	+14.4%	363,9 k €	-3.5%	377 k €
Cash	28,2 k €	-68.1%	88,6 k €	+24.4%	71,2 k €	-13.0%	81,9 k €	+20.4%	68 k €	+73.8%	39,1 k €	+70.4%	23 k €	+1383%	1,5 k €	+16.9%	1,3 k €	-85.8%	9,4 k €	-37.3%	14,9 k €	-35.2%	23 k €	+19.2%	19,3 k €	+218%	6,1 k €	+124%	2,7 k €	-60.5%	6,9 k €	-31.1%	10 k €	+28480%	35 €	-98.4%	2,2 k €	-61.4%	5,8 k €
Debts	4,5 k €	-90.3%	46,6 k €	-13.3%	53,8 k €	-6.7%	57,6 k €	+249%	16,5 k €	+6130%	264,6 €	+1.3%	261,2 €	-97.0%	8,6 k €	-77.3%	38 k €	-48.1%	73,3 k €	-30.3%	105 k €	-26.1%	142,1 k €	-17.6%	172,4 k €	-12.5%	197 k €	-31.5%	287,7 k €	-20.3%	361,1 k €	-6.3%	385,2 k €	+11.2%	346,4 k €	+16.4%	297,7 k €	-6.2%	317,3 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 11 ended

Active mandates

LUDOVIC COULON

Director · since 19 septembre 2025 · until 27 juin 2031

Active

Thierry BALERIAUX

Director · since 19 septembre 2025 · until 27 juin 2031

Active

CLAUDINE MACAIGNE

Director · since 23 juin 2023 · until 19 septembre 2025

Active

WALTER IUSSO

Managing director · since 23 juin 2023 · until 19 septembre 2025

Active

Ended mandates

CLAUDINE MACAIGNE

Director · since 23 juin 2023 · until 22 juin 2029

Ended

WALTER IUSSO

Managing director · since 23 juin 2023 · until 22 juin 2029

Ended

CLAUDINE MACAIGNE

Director · since 23 juin 2017 · until 23 juin 2023

Ended

WALLER IUSSO

Managing director · since 23 juin 2017 · until 23 juin 2023

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Micro model	Micro model	Micro model	Micro model	Micro 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	27/08/2026	31/07/2025	29/08/2024	26/07/2023	31/08/2022	30/07/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	23/06/2023	24/06/2022	25/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/06/2026	27/08/2026	French	PDF
Micro model	31/12/2024	27/06/2025	31/07/2025	French	PDF
Micro model	31/12/2023	28/06/2024	29/08/2024	French	PDF
Micro model	31/12/2022	23/06/2023	26/07/2023	French	PDF
Micro model	31/12/2021	24/06/2022	31/08/2022	French	PDF
Micro model	31/12/2020	25/06/2021	30/07/2021	French	PDF
Micro model	31/12/2019	26/06/2020	02/07/2020	French	PDF
Micro model	31/12/2018	28/06/2019	02/07/2019	French	PDF
Micro model	31/12/2017	22/06/2018	29/08/2018	French	PDF
Micro model	31/12/2016	23/06/2017	16/08/2017	French	PDF
Abridged model	31/12/2015	24/06/2016	24/08/2016	French	PDF
Abridged model	31/12/2014	26/06/2015	10/07/2015	French	PDF
Abridged model	31/12/2013	27/06/2014	07/07/2014	French	PDF
Abridged model	31/12/2012	28/06/2013	25/07/2013	French	PDF
Abridged model	31/12/2011	22/06/2012	16/07/2012	French	PDF
Abridged model	31/12/2010	24/06/2011	08/07/2011	French	PDF
Abridged model	31/12/2009	25/06/2010	19/07/2010	French	PDF
Abridged model	31/12/2008	26/06/2009	17/07/2009	French	PDF
Abridged model	31/12/2007	27/06/2008	03/07/2008	French	PDF
Abridged model	31/12/2006	22/06/2007	29/06/2007	French	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 11 ended

Active mandates

LUDOVIC COULON

Director · since 19 septembre 2025 · until 27 juin 2031

Active

Thierry BALERIAUX

Director · since 19 septembre 2025 · until 27 juin 2031

Active

CLAUDINE MACAIGNE

Director · since 23 juin 2023 · until 19 septembre 2025

Active

WALTER IUSSO

Managing director · since 23 juin 2023 · until 19 septembre 2025

Active

Ended mandates

CLAUDINE MACAIGNE

Director · since 23 juin 2023 · until 22 juin 2029

Ended

WALTER IUSSO

Managing director · since 23 juin 2023 · until 22 juin 2029

Ended

CLAUDINE MACAIGNE

Director · since 23 juin 2017 · until 23 juin 2023

Ended

WALLER IUSSO

Managing director · since 23 juin 2017 · until 23 juin 2023

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office09/02/2026
SIEGE SOCIAL
PDF
Mandates09/12/2025
DEMISSION - NOMINATION - TRANSFERT
PDF
Mandates21/06/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates17/07/2017
DEMISSIONS, NOMINATIONS
PDF
Other24/02/2015
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Other22/09/2011
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates22/09/2009
DEMISSIONS, NOMINATIONS
PDF
Other27/11/2003
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

2025
Annual accounts 202517,8 k €↓
2024
Annual accounts 202424,3 k €↑
2023
Annual accounts 202314 k €↓
2022
Annual accounts 202217,6 k €↑
2021
Annual accounts 202116,7 k €↑
2020
Annual accounts 202011,4 k €↓
2019
Annual accounts 201919,7 k €↑
2018
Annual accounts 201818,9 k €↑
2017
Annual accounts 201714 k €↓
2016
Annual accounts 201617,4 k €↓
2015
Annual accounts 201518,2 k €↓
2014
Annual accounts 201421,1 k €↑
2013
Annual accounts 201319,5 k €↑
2012
Annual accounts 20127 k €↓
2011
Annual accounts 20117,7 k €↑
2010
Annual accounts 2010-9,2 k €↓
2009
Annual accounts 20095,7 k €↑
2008
Annual accounts 20083,7 k €↓
2007
Annual accounts 20076,5 k €↑
2006
Annual accounts 2006-6,1 k €
20/11/2003
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

CLOWA

Overview

What does CLOWA do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

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