ACTIVE

QUAEROQ

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Financial year 2025 · closed on 31/12/2025

Net result

13,9 M €

+1952.1% YoY

Revenue

16,2 k €

+0.3% YoY

Equity

55,9 M €

-9.8% YoY

What does QUAEROQ do?

QUAEROQ is a Public limited company incorporated in 2003. Its main activity is: Trusts, funds and similar financial entities. Its registered office is in Waregem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0862.330.988

Incorporation

22/12/2003

Legal form

Public limited company

Registered office

Kalkhoevestraat 10 box 3.1
8790 Waregem · FlandreSee on map

Contributed capital

3 337 147,33 €

Latest accounts

31/12/2025

Activities (NACE)

64300Trusts, funds and similar financial entities· main 64310Trusts, funds and similar financial entities 64200Activities of holding companies 64210Activities of holding companies 70200Management consultancy activities 70210Public relations and communication activities+2

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

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
Revenue	16,2 k €	+0.3%	16,2 k €	+61.3%	10 k €		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	-324,5 k €	-22.0%	-266 k €	+37.5%	-425,6 k €	-4.4%	-407,7 k €	-14.3%	-356,8 k €	-40.9%	-253,2 k €	-15.2%	-219,9 k €	-1.7%	-216,3 k €	+51.8%	-448,5 k €	-5.4%	-425,6 k €	+28.4%	-594,2 k €	+4.1%	-619,9 k €	+42.9%	-1,1 M €	-63.5%	-663,8 k €	+7.6%	-718,4 k €	-3.1%	-696,7 k €	-4.7%	-665,8 k €	+61.3%	-1,7 M €	-123%	-771,3 k €	+20.6%	-971,2 k €
Operating result	-324,5 k €	-22.0%	-266 k €	+37.5%	-425,6 k €	-4.4%	-407,7 k €	-14.3%	-356,8 k €	-40.9%	-253,2 k €	-15.2%	-219,9 k €	-1.7%	-216,3 k €	+51.8%	-448,5 k €	-5.4%	-425,6 k €	+28.4%	-594,2 k €	+4.5%	-622,4 k €	+43.0%	-1,1 M €	-62.9%	-670,1 k €	+7.5%	-724,7 k €	-3.1%	-702,9 k €	-4.8%	-670,9 k €	+61.1%	-1,7 M €	-123%	-774 k €	+48.1%	-1,5 M €
Net result	13,9 M €	+1952%	-752,8 k €	-121%	3,5 M €	-35.3%	5,4 M €	-45.4%	10 M €	-34.7%	15,2 M €	+402%	3 M €	-52.9%	6,5 M €	-29.8%	9,2 M €	-6.8%	9,9 M €	+50.7%	6,6 M €	-56.3%	15 M €	-17.3%	18,1 M €	+63.4%	11,1 M €	+243%	-7,7 M €	-183%	9,3 M €	-38.8%	15,3 M €	+147%	-32,7 M €	-604%	6,5 M €	+86.4%	3,5 M €
Balance sheet
Equity	55,9 M €	-9.8%	62 M €	-45.0%	112,7 M €	+3.2%	109,2 M €	+5.2%	103,8 M €	+10.6%	93,8 M €	+19.4%	78,6 M €	+4.0%	75,5 M €	+9.4%	69,1 M €	+15.4%	59,9 M €	+19.8%	50 M €	-47.5%	95,2 M €	+18.7%	80,2 M €	+14.3%	70,2 M €	-17.9%	85,5 M €	-5.3%	90,2 M €	+28.6%	70,2 M €	+27.7%	54,9 M €	-37.9%	88,4 M €	+56.3%	56,5 M €
Total assets	86,1 M €	-32.2%	127 M €	-0.6%	127,8 M €	+11.8%	114,3 M €	+5.0%	108,8 M €	+10.1%	98,8 M €	+25.8%	78,6 M €	+3.3%	76 M €	+6.4%	71,5 M €	+19.3%	59,9 M €	+19.7%	50,1 M €	-47.5%	95,3 M €	+17.7%	81 M €	-16.3%	96,7 M €	+13.0%	85,5 M €	-5.2%	90,2 M €	+28.4%	70,3 M €	+27.0%	55,3 M €	-38.3%	89,6 M €	+53.2%	58,5 M €
Cash	1,4 M €	+2544%	53,7 k €	-99.0%	5,4 M €	+39.4%	3,9 M €	+30.0%	3 M €	+39.4%	2,1 M €	+10.4%	1,9 M €	+350%	430 k €	-4.6%	450,7 k €	-93.4%	6,8 M €	-13.5%	7,8 M €	-72.7%	28,7 M €	+147%	11,6 M €	+1257%	857,7 k €	+56.3%	548,8 k €	-16.9%	660,4 k €	-85.9%	4,7 M €	+183%	1,7 M €	+7.8%	1,5 M €	-9.4%	1,7 M €
Debts	30,2 M €	-53.6%	65 M €	+331%	15,1 M €	+197%	5,1 M €	+0.5%	5,1 M €	+1.1%	5 M €	+33112%	15,1 k €	-97.1%	516,4 k €	-78.8%	2,4 M €	+4943%	48,2 k €	-41.8%	82,9 k €	+7.9%	76,8 k €	-89.5%	729,5 k €	-97.2%	26,5 M €	+34011%	77,7 k €	+148%	31,3 k €	-67.8%	97,3 k €	-75.0%	389,5 k €	-66.8%	1,2 M €	-39.3%	1,9 M €
Other
Workforce	–		–		–		–		–		–		–		2,0 ETP	0.0%	2,0 ETP	+53.8%	1,3 ETP	-27.8%	1,8 ETP	-10.0%	2,0 ETP	+5.3%	1,9 ETP	+5.6%	1,8 ETP	-10.0%	2,0 ETP	+53.8%	1,3 ETP	+62.5%	0,8 ETP	0.0%	0,8 ETP		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 27 ended

Active mandates

De Blauwhoeve

Director · since 30 juin 2021 · until 30 juin 2027 · 0810.472.018

Represented by Ivan Van de Maele

Active

VAUBAN

Director · since 30 juin 2021 · until 30 juin 2027 · 0838.114.246

Represented by Gaëtan Hannecart

Active

Ended mandates

FINANCIERE DES CYTISES

Director · since 30 juin 2021 · until 17 juin 2024 · 0471.759.993

Represented by Michel Delloye

Ended

FINANCIERE DES CYTISES

Director · since 30 juin 2021 · until 30 juin 2027 · 0471.759.993

Represented by Michel Delloye

Ended

FINANCIERE DES CYTISES

Director · since 01 décembre 2017 · until 30 juin 2021 · 0471.759.993

Represented by Michel Delloye

Ended

Cytindus NV

Director · since 14 juillet 2015 · until 01 décembre 2017 · 0460.724.264

Represented by Michel Delloye

Ended

At this address

Other companies at this address

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ABACUS GROUP● Active	0435.477.936
ABACUS INVEST● Active	0656.666.442
ABACUS INVESTMENTS● Active	1037.541.692
AEDIMAR● Active	0889.787.136
AEDISAMBRE● Active	0785.552.619
ANKOR INVEST● Active	0893.947.545
ANKOR REAL ESTATE● Active	0715.759.238
ARNAGE INVEST● Active	0844.461.412
CLEARCASES● Active	1033.592.507
Imara● Active	1010.233.719
LOCAMPOAMOR TRES● Active	0477.552.675
PAVAMO● Active	0428.956.665
Scholt Energy● Active	0820.000.881
S-TEAM● Active	0465.169.042
Tennium Belgium● Active	0649.531.301
TENNIUM GO PLAY● Active	0721.761.855
V.E.M. INVEST● Active	0783.423.765

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	09/07/2025	26/06/2024	07/07/2023	13/07/2022	05/07/2021
General meeting	24/06/2026	25/06/2025	26/06/2024	30/06/2023	30/06/2022	30/06/2021
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
Full model	31/12/2025	24/06/2026	15/07/2026	Dutch	PDF
Full model	31/12/2024	25/06/2025	09/07/2025	Dutch	PDF
Full model	31/12/2023	26/06/2024	26/06/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	07/07/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	13/07/2022	Dutch	PDF
Full model	31/12/2020	30/06/2021	05/07/2021	Dutch	PDF
Full model	31/12/2019	26/06/2020	01/07/2020	Dutch	PDF
Full model	31/12/2018	30/09/2019	01/10/2019	Dutch	PDF
Full model	31/12/2017	27/06/2018	09/07/2018	Dutch	PDF
Full model	31/12/2016	28/06/2017	25/08/2017	Dutch	PDF
Full model	31/12/2015	29/06/2016	31/08/2016	Dutch	PDF
Full model	31/12/2014	30/06/2015	17/07/2015	Dutch	PDF
Full model	31/12/2013	05/03/2014	31/07/2014	Dutch	PDF
Full model	31/12/2012	14/06/2013	11/09/2013	Dutch	PDF
Full model	31/12/2011	26/06/2012	29/06/2012	Dutch	PDF
Full model	31/12/2010	30/06/2011	29/07/2011	Dutch	PDF
Full model	31/12/2009	30/06/2010	30/08/2010	Dutch	PDF
Full model	31/12/2008	30/06/2009	28/08/2009	Dutch	PDF
Full model	31/12/2007	04/06/2008	17/07/2008	Dutch	PDF
Full modelCorrection	31/12/2006	02/05/2007	23/08/2007	Dutch	PDF
Full model	31/12/2006	02/05/2007	12/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 · 27 ended

Active mandates

De Blauwhoeve

Director · since 30 juin 2021 · until 30 juin 2027 · 0810.472.018

Represented by Ivan Van de Maele

Active

VAUBAN

Director · since 30 juin 2021 · until 30 juin 2027 · 0838.114.246

Represented by Gaëtan Hannecart

Active

Ended mandates

FINANCIERE DES CYTISES

Director · since 30 juin 2021 · until 17 juin 2024 · 0471.759.993

Represented by Michel Delloye

Ended

FINANCIERE DES CYTISES

Director · since 30 juin 2021 · until 30 juin 2027 · 0471.759.993

Represented by Michel Delloye

Ended

FINANCIERE DES CYTISES

Director · since 01 décembre 2017 · until 30 juin 2021 · 0471.759.993

Represented by Michel Delloye

Ended

Cytindus NV

Director · since 14 juillet 2015 · until 01 décembre 2017 · 0460.724.264

Represented by Michel Delloye

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates06/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/12/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/02/2023
ONTSLAGEN - BENOEMINGEN
PDF
Registered office14/11/2022
MAATSCHAPPELIJKE ZETEL
PDF
Mandates10/09/2021
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/01/2020
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares27/12/2019
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - KAPITAAL - AANDELEN
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 202513,9 M €↑
04/11/2025
reconductionTina Burm — commissaris
2024
Annual accounts 2024-752,8 k €↓
01/01/2024
nominationGaëtan Hannecart — gedelegeerd bestuurder
01/01/2024
nominationIvan Van de Maele — gedelegeerd bestuurder
2023
Annual accounts 20233,5 M €↓
2022
Annual accounts 20225,4 M €↓
07/11/2022
reconductionTony Moreels — commissaris
2021
Annual accounts 202110 M €↓
2020
Annual accounts 202015,2 M €↑
2019
Annual accounts 20193 M €↓
2018
Annual accounts 20186,5 M €↓
2017
Annual accounts 20179,2 M €↓
2016
Annual accounts 20169,9 M €↑
2015
Annual accounts 20156,6 M €↓
2014
Annual accounts 201415 M €↓
2013
Annual accounts 201318,1 M €↑
2012
Annual accounts 201211,1 M €↑
2011
Annual accounts 2011-7,7 M €↓
2010
Annual accounts 20109,3 M €↓
2009
Annual accounts 200915,3 M €↑
2008
Annual accounts 2008-32,7 M €↓
2007
Annual accounts 20076,5 M €↑
2006
Annual accounts 20063,5 M €
22/12/2003
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

QUAEROQ

Overview

What does QUAEROQ 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