ACTIVE

BHB

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Financial year 2025 · closed on 31/12/2025

Net result

3 M €

+573.2% YoY

Gross margin

477,3 k €

+14.1% YoY

Equity

13,9 M €

-4.2% YoY

What does BHB do?

BHB is a Private limited company incorporated in 2004. Its main activity is: Management consultancy activities. Its registered office is in Waregem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0862.808.169

Incorporation

20/01/2004

Legal form

Private limited company

Registered office

Textielstraat 26
8790 Waregem · FlandreSee on map

Contributed capital

9 031 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	477,3 k €	+14.1%	418,4 k €	-51.6%	864,4 k €	+7593%	11,2 k €	+16.2%	9,7 k €	+133%	-29,6 k €	-105%	576,4 k €	-50.8%	1,2 M €	-47.4%	2,2 M €		–		154,1 k €	+0.8%	152,9 k €	-19.9%	190,8 k €	+855%	20 k €	-98.5%	1,3 M €	+1466%	-96 k €	-142%	231,1 k €	-23.3%	301,1 k €
EBITDA	476,2 k €	+14.1%	417,3 k €	-50.0%	834,7 k €	+8039%	10,3 k €	+18.0%	8,7 k €	+128%	-30,6 k €	-105%	564,7 k €	+133%	-1,7 M €	-178%	2,2 M €	+512%	356,9 k €	+136%	151,5 k €	+18.7%	127,6 k €	-32.8%	190 k €	+898%	19 k €	-98.5%	1,3 M €	+1453%	-96,8 k €	-142%	230 k €	-23.3%	300 k €
Operating result	476,2 k €	+14.1%	417,3 k €	-50.0%	834,7 k €	+8039%	10,3 k €	+18.0%	8,7 k €	+128%	-30,6 k €	-105%	649,9 k €	+138%	-1,7 M €	-181%	2,1 M €	+488%	356,9 k €	+136%	151,5 k €	+18.7%	127,6 k €	-32.8%	190 k €	+898%	19 k €	-98.5%	1,3 M €	+1401%	-100,7 k €	-145%	224,3 k €	-23.5%	293,4 k €
Net result	3 M €	+573%	446,4 k €	-62.4%	1,2 M €	+146%	-2,6 M €	-1421%	-168,9 k €	+21.1%	-214 k €	-107%	2,9 M €	+398%	583,1 k €	-69.5%	1,9 M €	+1027%	169,6 k €	-96.9%	5,5 M €	+351%	-2,2 M €	-5692%	-37,9 k €	+83.3%	-227 k €	-121%	1,1 M €	+295%	-552,7 k €	-339%	-125,9 k €	+98.9%	-11,4 M €
Balance sheet
Equity	13,9 M €	-4.2%	14,5 M €	+34.7%	10,8 M €	+12.4%	9,6 M €	-23.9%	12,6 M €	+3.8%	12,2 M €	+57.0%	7,7 M €	-39.7%	12,8 M €	+4.8%	12,3 M €	+18.5%	10,3 M €	-2.2%	10,6 M €	+139%	4,4 M €	-40.7%	7,5 M €	+12.0%	6,7 M €	-16.4%	8 M €	+15.6%	6,9 M €	-7.4%	7,4 M €	-1.7%	7,6 M €
Total assets	17,8 M €	-16.1%	21,2 M €	+33.2%	15,9 M €	-16.2%	19 M €	-13.3%	21,9 M €	-2.3%	22,4 M €	-15.8%	26,7 M €	+36.4%	19,5 M €	-42.7%	34,1 M €	+4.3%	32,7 M €	+1.1%	32,3 M €	+35.4%	23,9 M €	-7.8%	25,9 M €	+20.9%	21,4 M €	-3.7%	22,2 M €	+7.3%	20,7 M €	-0.1%	20,8 M €	+1.9%	20,4 M €
Cash	352,4 k €	+599%	50,4 k €	-53.1%	107,4 k €	-96.2%	2,9 M €	+141%	1,2 M €	-18.3%	1,5 M €		–		734,4 k €	+10093%	7,2 k €	-23.0%	9,4 k €	-94.3%	165 k €	-67.8%	511,7 k €	+1207%	39,1 k €	+607%	5,5 k €	+4.3%	5,3 k €	-2.0%	5,4 k €	-23.8%	7,1 k €	+131%	3,1 k €
Debts	3,5 M €	-45.4%	6,4 M €	+28.9%	5 M €	-42.8%	8,7 M €	-0.7%	8,8 M €	-11.6%	9,9 M €	-47.0%	18,7 M €	+182%	6,6 M €	-69.2%	21,6 M €	-2.4%	22,1 M €	+3.7%	21,3 M €	+11.8%	19,1 M €	+5.5%	18,1 M €	+26.3%	14,3 M €	+3.3%	13,9 M €	+4.6%	13,3 M €	+4.0%	12,8 M €	+4.0%	12,3 M €

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 · 2 active · 4 ended

Active mandates

Hans Vanoorbeek

Manager · since 05 mai 2005

Active

John Blijdenstein

Manager · since 16 janvier 2004

Active

Ended mandates

Hans Vanoorbeek

Manager

Ended

HANS VANOORBEEK

Mandate

Ended

John Blijdenstein

Manager

Ended

JOHN BLIJDENSTEIN

Mandate

Ended

At this address

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Matco Invest● Active	1011.733.160
Matco Latex Services● Active	1006.541.581
VHPE● Active	0751.971.021

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Micro 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	18/06/2026	03/07/2025	15/07/2024	26/07/2023	02/06/2022	07/06/2021
General meeting	03/06/2026	04/06/2025	26/06/2024	07/06/2023	01/06/2022	02/06/2021
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	03/06/2026	18/06/2026	Dutch	PDF
Abridged model	31/12/2024	04/06/2025	03/07/2025	Dutch	PDF
Abridged model	31/12/2023	26/06/2024	15/07/2024	Dutch	PDF
Micro model	31/12/2022	07/06/2023	26/07/2023	Dutch	PDF
Abridged model	31/12/2021	01/06/2022	02/06/2022	Dutch	PDF
Abridged model	31/12/2020	02/06/2021	07/06/2021	Dutch	PDF
Abridged model	31/12/2019	03/06/2020	14/09/2020	Dutch	PDF
Abridged model	31/12/2018	05/06/2019	06/06/2019	Dutch	PDF
Micro model	31/12/2017	06/06/2018	30/08/2018	Dutch	PDF
Full model	31/12/2016	14/04/2017	12/06/2017	Dutch	PDF
Abridged model	31/12/2015	01/06/2016	14/06/2016	Dutch	PDF
Abridged model	31/12/2014	03/06/2015	18/06/2015	Dutch	PDF
Abridged model	31/12/2013	04/06/2014	19/06/2014	Dutch	PDF
Abridged model	31/12/2012	28/02/2013	22/08/2013	Dutch	PDF
Abridged model	31/12/2011	20/02/2012	19/07/2012	Dutch	PDF
Abridged model	31/12/2010	01/06/2011	05/08/2011	Dutch	PDF
Abridged model	31/12/2009	02/06/2010	23/08/2010	Dutch	PDF
Abridged model	31/12/2008	03/06/2009	19/06/2009	Dutch	PDF
Abridged model	31/12/2007	04/06/2008	28/08/2008	Dutch	PDF
Abridged model	31/12/2006	06/06/2007	14/08/2007	Dutch	PDF

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 · 2 active · 4 ended

Active mandates

Hans Vanoorbeek

Manager · since 05 mai 2005

Active

John Blijdenstein

Manager · since 16 janvier 2004

Active

Ended mandates

Hans Vanoorbeek

Manager

Ended

HANS VANOORBEEK

Mandate

Ended

John Blijdenstein

Manager

Ended

JOHN BLIJDENSTEIN

Mandate

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Capital / shares24/12/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Other08/05/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates12/09/2019
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Registered office05/07/2013
MAATSCHAPPELIJKE ZETEL
PDF
Other26/03/2012
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office26/06/2009
Verplaatsing maatschappelijke zetel
PDF
Capital / shares15/01/2009
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office21/02/2007
« VERPLAATSING MAATSCHAPPELIJKE ZETEL, UITBATINGSZETEL EN
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 20253 M €↑
2024
Annual accounts 2024446,4 k €↓
2023
Annual accounts 20231,2 M €↑
2022
Annual accounts 2022-2,6 M €↓
2021
Annual accounts 2021-168,9 k €↑
2020
Annual accounts 2020-214 k €↓
2019
Annual accounts 20192,9 M €↑
2018
Annual accounts 2018583,1 k €↓
2017
Annual accounts 20171,9 M €↑
2016
Annual accounts 2016169,6 k €↓
2015
Annual accounts 20155,5 M €↑
2014
Annual accounts 2014-2,2 M €↓
2013
Annual accounts 2013-37,9 k €↑
2012
Annual accounts 2012-227 k €↓
2011
Annual accounts 20111,1 M €↑
2010
Annual accounts 2010-552,7 k €↓
2009
Annual accounts 2009-125,9 k €↑
2008
Annual accounts 2008-11,4 M €
20/01/2004
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

BHB

Overview

What does BHB do?

Trend over 18 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