ACTIVE

TREETOP

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Financial year 2025 · closed on 31/12/2025

Net result

95,3 k €

+142.8% YoY

Gross margin

152,6 k €

+132.0% YoY

Equity

411,9 k €

-17.0% YoY

What does TREETOP do?

TREETOP is a Private limited company incorporated in 2004. Its main activity is: Management consultancy activities. Its registered office is in Watermael-Boitsfort.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0863.833.795

Incorporation

04/03/2004

Legal form

Private limited company

Registered office

Boulevard du Souverain 68 box 10
1170 Watermael-Boitsfort · BruxellesSee on map

Contributed capital

20 000,00 €

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 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	152,6 k €	+132%	65,8 k €	+10.8%	59,4 k €	+11.5%	53,3 k €	+345%	-21,7 k €	-202%	-7,2 k €	-148%	15,2 k €	-61.4%	39,3 k €	+17.4%	33,5 k €	-40.8%	56,5 k €	-47.0%	106,6 k €	-3.7%	110,6 k €	-7.9%	120 k €	+5.2%	114,1 k €	-8.3%	124,4 k €	-16.5%	149,1 k €	+3.7%	143,7 k €	+1.0%	142,4 k €	+26.9%	112,2 k €	+69.0%	66,4 k €
EBITDA	152,2 k €	+133%	65,3 k €	+11.3%	58,7 k €	+11.2%	52,8 k €	+326%	-23,4 k €	-158%	-9 k €	-165%	13,9 k €	-61.0%	35,7 k €	+20.3%	29,7 k €	-44.3%	53,3 k €	-47.2%	100,9 k €	-0.1%	101 k €	-13.1%	116,2 k €	+5.2%	110,5 k €	-8.6%	120,9 k €	-11.1%	136 k €	+4.3%	130,3 k €	+64.2%	79,4 k €	-20.5%	99,9 k €	+102%	49,5 k €
Operating result	151,9 k €	+133%	65,1 k €	+11.3%	58,5 k €	+10.7%	52,8 k €	+319%	-24,1 k €	-146%	-9,8 k €	-224%	7,9 k €	-43.2%	13,8 k €	+100%	6,9 k €	-77.3%	30,5 k €	-59.6%	75,4 k €	+0.3%	75,2 k €	-15.9%	89,4 k €	+7.3%	83,3 k €	-11.2%	93,8 k €	-14.0%	109 k €	+8.5%	100,5 k €	+102%	49,8 k €	-29.3%	70,4 k €	+205%	23,1 k €
Net result	95,3 k €	+143%	39,3 k €	+7.3%	36,6 k €	-20.3%	45,9 k €	+254%	-29,7 k €	-79.8%	-16,5 k €	-845%	2,2 k €	-59.1%	5,4 k €	+414%	1,1 k €	-89.6%	10,2 k €	-73.1%	37,9 k €	-8.9%	41,7 k €	-20.4%	52,3 k €	+12.2%	46,6 k €	-6.1%	49,7 k €	-8.0%	54 k €	+26.2%	42,8 k €	+374%	9 k €	-73.6%	34,2 k €	+334%	7,9 k €
Balance sheet
Equity	411,9 k €	-17.0%	496,4 k €	+8.6%	457,1 k €	+8.7%	420,6 k €	+12.2%	374,7 k €	-7.4%	404,4 k €	-3.9%	421 k €	+0.5%	418,7 k €	+1.3%	413,3 k €	+0.3%	412,2 k €	+2.5%	402 k €	+10.4%	364,1 k €	+12.9%	322,4 k €	+19.4%	270,1 k €	+20.9%	223,5 k €	+28.6%	173,8 k €	+45.1%	119,8 k €	+55.6%	77 k €	+13.3%	68 k €	+87.6%	36,2 k €
Total assets	895,9 k €	+10.6%	810,4 k €	+5.6%	767,6 k €	+4.7%	733,4 k €	+4.6%	701,2 k €	-6.0%	746,2 k €	+25.8%	593,4 k €	+3.1%	575,8 k €	-2.2%	588,6 k €	-3.7%	611,3 k €	-8.8%	670,2 k €	+4.2%	643,2 k €	-0.6%	646,9 k €	-4.0%	673,6 k €	-5.2%	710,2 k €	-3.8%	738,1 k €	-1.6%	749,8 k €	-4.8%	787,3 k €	+8.0%	729,3 k €	+129%	318,5 k €
Cash	124,2 k €	+34.2%	92,5 k €	+7.9%	85,7 k €	+187%	29,9 k €	+506%	4,9 k €	-89.2%	45,8 k €	+100%	22,9 k €	-21.8%	29,2 k €	+2866%	986 €	-81.3%	5,3 k €		–		4,3 k €		–		–		–		–		6,4 k €	+4.7%	6,1 k €	+0.8%	6 k €	-25.9%	8,1 k €
Debts	425,8 k €	+76.2%	241,6 k €	-3.0%	249,2 k €	-3.5%	258,1 k €	-6.1%	275 k €	-4.2%	286,9 k €	+138%	120,6 k €	+24.1%	97,2 k €	-18.5%	119,3 k €	-18.7%	146,7 k €	-33.3%	220,2 k €	-1.1%	222,6 k €	-18.5%	273 k €	-22.3%	351,5 k €	-19.5%	436,9 k €	-15.2%	515,3 k €	-11.4%	581,5 k €	-12.1%	661,9 k €	+0.1%	661,1 k €	+135%	281,2 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 1 ended

Active mandates

BENOÎT DE BRUYN

Director · since 19 février 2004

Active

Ended mandates

BENOÎT DE BRUYN

Manager · since 19 février 2004

Ended

At this address

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Annual accounts

Full financial information

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

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 1 active · 1 ended

Active mandates

BENOÎT DE BRUYN

Director · since 19 février 2004

Active

Ended mandates

BENOÎT DE BRUYN

Manager · since 19 février 2004

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates21/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Registered office20/03/2015
MAATSCHAPPELIJKE ZETEL
PDF
Mandates13/10/2010
ONTSLAGEN - BENOEMINGEN
PDF
Registered office19/08/2010
MAATSCHAPPELIJKE ZETEL
PDF
Other11/03/2004
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 202595,3 k €↑
2024
Annual accounts 202439,3 k €↑
2023
Annual accounts 202336,6 k €↓
2022
Annual accounts 202245,9 k €↑
2021
Annual accounts 2021-29,7 k €↓
2020
Annual accounts 2020-16,5 k €↓
2019
Annual accounts 20192,2 k €↓
2018
Annual accounts 20185,4 k €↑
2017
Annual accounts 20171,1 k €↓
2016
Annual accounts 201610,2 k €↓
2015
Annual accounts 201537,9 k €↓
2014
Annual accounts 201441,7 k €↓
2013
Annual accounts 201352,3 k €↑
2012
Annual accounts 201246,6 k €↓
2011
Annual accounts 201149,7 k €↓
2010
Annual accounts 201054 k €↑
2009
Annual accounts 200942,8 k €↑
2008
Annual accounts 20089 k €↓
2007
Annual accounts 200734,2 k €↑
2006
Annual accounts 20067,9 k €
04/03/2004
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

TREETOP

Overview

What does TREETOP 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