ACTIVE

ZELLIM

Financial year 2025 · Closed on 30/09/2025

Net result-111,4 k €-138,3 %over 1 year

Gross margin651,4 k €-35,5 %over 1 year

Equity2,2 M €-4,8 %over 1 year

Identity

Source · BCE/KBO

ZELLIM is a Public limited company incorporated in 2004. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Etterbeek.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0867.287.391
Incorporation: 16/09/2004
Legal form: Public limited company
Registered office: Avenue de l'Armée 19
1040 Etterbeek · BruxellesSee on map
Contributed capital: 1 800 000,00 €
Latest accounts: 30/09/2025

Activities (NACE)

68201Rental and operating of own or leased real estate· main 68201Rental and operating of own or leased real estate

Signals

Solid equityPositive cashflowPositive EBITDA

Financials

Source · NBB, 20 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	651,4 k €	-35.5%	1 M €	+84.2%	547,9 k €	-2.6%	562,5 k €	+13.9%	493,8 k €
EBITDA	565,2 k €	-41.8%	971,6 k €	+106%	471,4 k €	-8.7%	516,2 k €	+13.1%	456,6 k €
Operating result	31,8 k €	-94.0%	533,1 k €	+528%	84,9 k €	-28.3%	118,5 k €	+144%	48,6 k €
Net result	-111,4 k €	-138%	290,8 k €	+919%	-35,5 k €	-344%	-8 k €	+88.2%	-67,7 k €
Balance sheet
Equity	2,2 M €	-4.8%	2,3 M €	+13.4%	2 M €	-2.1%	2,1 M €	-1.3%	2,1 M €
Total assets	4 M €	+0.3%	4 M €	+0.6%	4 M €	-2.7%	4,1 M €	-5.1%	4,3 M €
Cash	574,7 €	-99.6%	137,4 k €	+786%	15,5 k €	-59.7%	38,5 k €	+483%	6,6 k €
Debts	1,1 M €	+15.4%	985,6 k €	-26.3%	1,3 M €	-5.8%	1,4 M €	-10.0%	1,6 M €

Valuation

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Board of directors

Source · NBB, accounts to 30/09/2025

3 active · 4 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Raul Faz de la Rosa	MandateDirector18/04/2007 → 2024 accountsended
YMFA0476.947.515Represented by Yves MASKENS	MandateManaging director01/09/2004 → 2022 accountsended
Victor Agulo	Mandate

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Victor Agulo Montano	Director17/08/2020 → 2024 accounts
Victor Angulo Montano	Director21/11/2013 → 2023 accounts

Other companies at this address

Avenue de l'Armée 19 1040 Etterbeek

Company	CBE no.
MASKIM● Active	0656.793.136
MASKIN● Active	0668.968.715
YMFA● Active	0476.947.515

Full financial information

Source · NBB

	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	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	07/05/2026	20/02/2025	26/03/2024	27/12/2022	08/03/2022	03/05/2021
General meeting	20/11/2025	21/11/2024	16/11/2023	17/11/2022	18/11/2021	19/11/2020
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	20/11/2025	07/05/2026	French	PDF
Abridged model	30/09/2024	21/11/2024	20/02/2025	French	PDF
Abridged model	30/09/2023	16/11/2023	26/03/2024	French	PDF
Abridged model	30/09/2022	17/11/2022	27/12/2022	French	PDF
Abridged model	30/09/2021	18/11/2021	08/03/2022	French	PDF
Abridged model	30/09/2020	19/11/2020	03/05/2021	French	PDF
Abridged model	30/09/2019	21/11/2019	09/01/2020	French	PDF
Abridged model	30/09/2018	15/11/2018	27/12/2018	French	PDF
Abridged model	30/09/2017	16/11/2017	13/12/2017	French	PDF
Abridged model	30/09/2016	17/11/2016	17/01/2017	French	PDF
Abridged model	30/09/2015	19/11/2015	26/11/2015	French	PDF
Abridged model	30/09/2014	20/11/2014	09/12/2014	French	PDF
Abridged model	30/09/2013	21/11/2013	27/11/2013	French	PDF
Abridged model	30/09/2012	15/11/2012	15/02/2013	French	PDF
Abridged model	30/09/2011	17/11/2011	29/03/2012	French	PDF
Abridged model	31/12/2010	20/04/2011	20/06/2011	French	PDF
Abridged model	31/12/2009	21/04/2010	30/06/2010	French	PDF
Abridged model	31/12/2008	15/04/2009	30/06/2009	French	PDF
Abridged model	31/12/2007	18/03/2008	26/05/2008	French	PDF
Abridged model	31/12/2006	18/04/2007	14/06/2007	French	PDF

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.

Board of directors

Source · NBB, accounts to 30/09/2025

3 active · 4 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Raul Faz de la Rosa	MandateDirector18/04/2007 → 2024 accountsended
YMFA0476.947.515Represented by Yves MASKENS	MandateManaging director01/09/2004 → 2022 accountsended
Victor Agulo	Mandate

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Victor Agulo Montano	Director17/08/2020 → 2024 accounts
Victor Angulo Montano	Director21/11/2013 → 2023 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates02/09/2020
OBJET - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Restructuring24/12/2018
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Capital / shares06/12/2017
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Restructuring08/11/2016
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring08/08/2016
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates21/04/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates06/12/2013
DEMISSIONS, NOMINATIONS
PDF
Restructuring12/12/2012
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings20 filings

Mandates

YMFA

Raul Faz de la Rosa

Victor Agulo

Victor Agulo Montano

Victor Angulo Montano

Antoine POUPPEZ de KETTENIS

Paul Charles Xavier de GHELDERE

20042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026

ZELLIM

Avenue de l'Armée 19, 1040 Etterbeek

Managing director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Avenue de l'Armée 19, 1040 EtterbeekCurrent	accounts 2022 → 2025	Accounts 2025 · 2026-00104854

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
ZELLIMCurrent	accounts 2022 → 2025	Accounts 2025 · 2026-00104854

Events

2025
Annual accounts 2025-111,4 k €↓
2024
Annual accounts 2024290,8 k €↑
2023
Annual accounts 2023-35,5 k €↓
2022
Annual accounts 2022-8 k €↑
2021
Annual accounts 2021-67,7 k €↓
2020
Annual accounts 202060,4 k €↑
2019
Annual accounts 2019-12,1 k €↓
2018
Annual accounts 2018-2,5 k €↑
2017
Annual accounts 2017-51,1 k €↓
2016
Annual accounts 201639,8 k €↓
2015
Annual accounts 201564,5 k €↑
2014
Annual accounts 201445,9 k €↓
2013
Annual accounts 2013114,8 k €↓
2012
Annual accounts 2012185,1 k €↓
2011
Annual accounts 2011605,1 k €↑
2010
Annual accounts 2010-181,4 k €↓
2009
Annual accounts 2009-144,2 k €↓
2008
Annual accounts 200842,5 k €↓
2007
Annual accounts 200793,5 k €↑
2006
Annual accounts 200656,8 k €
16/09/2004
IncorporationPublic limited company

ZELLIM

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events