ACTIVE

GRAY MANAGEMENT

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Financial year 2025 · closed on 30/06/2025

Net result

125,6 k €

+56.0% YoY

Gross margin

170,1 k €

+16.7% YoY

Equity

64,3 k €

-55.9% YoY

What does GRAY MANAGEMENT do?

GRAY MANAGEMENT is a Private limited company incorporated in 2004. Its main activity is: Management consultancy activities. Its registered office is in Bonheiden.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0867.462.882

Incorporation

03/09/2004

Legal form

Private limited company

Registered office

Peulisbaan 41 B
2820 Bonheiden · FlandreSee on map

Contributed capital

64 260,00 €

Latest accounts

30/06/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities 64200Activities of holding companies 64210Activities of holding companies 68100Buying and selling of own real estate+3

Signals

ProfitableLow riskPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	170,1 k €	+16.7%	145,8 k €	-25.0%	194,3 k €	+40.3%	138,5 k €	-0.6%	139,3 k €	+22.4%	113,8 k €	-12.9%	130,7 k €	+11.9%	116,9 k €	-35.4%	180,9 k €	+22.5%	147,7 k €	+1.0%	146,2 k €	-9.4%	161,3 k €	+29.7%	124,4 k €	+8.3%	114,8 k €	-40.1%	191,6 k €	+5.5%	181,6 k €	+29.0%	140,8 k €	+14.2%	123,2 k €	-4.6%	129,2 k €
EBITDA	169,5 k €	+23.0%	137,8 k €	-28.8%	193,6 k €	+43.9%	134,6 k €	-1.8%	137 k €	+22.6%	111,7 k €	-14.2%	130,3 k €	+13.5%	114,8 k €	-35.9%	179,1 k €	+22.9%	145,7 k €	+1.4%	143,7 k €	-9.3%	158,5 k €	+28.2%	123,6 k €	+10.1%	112,3 k €	-40.6%	189,2 k €	+5.2%	179,9 k €	+29.7%	138,7 k €	+15.2%	120,4 k €	-5.6%	127,5 k €
Operating result	158,2 k €	+24.2%	127,4 k €	-32.9%	190 k €	+50.4%	126,3 k €	+4.2%	121,2 k €	+33.8%	90,6 k €	-20.6%	114,2 k €	+15.3%	99 k €	-39.1%	162,5 k €	+26.7%	128,3 k €	+7.7%	119,2 k €	-9.5%	131,6 k €	+23.5%	106,5 k €	+12.5%	94,7 k €	-44.7%	171,4 k €	+6.0%	161,6 k €	+34.4%	120,3 k €	+16.9%	102,9 k €	-8.8%	112,8 k €
Net result	125,6 k €	+56.0%	80,6 k €	-48.3%	155,8 k €	+56.6%	99,5 k €	+6.2%	93,8 k €	+35.8%	69 k €	-19.4%	85,7 k €	+44.1%	59,4 k €	-40.5%	99,9 k €	+32.4%	75,5 k €	+17.2%	64,4 k €	-16.4%	77 k €	+21.0%	63,7 k €	+12.6%	56,5 k €	-39.4%	93,3 k €	-9.9%	103,5 k €	+54.4%	67 k €	-2.9%	69 k €	-9.7%	76,5 k €
Balance sheet
Equity	64,3 k €	-55.9%	145,6 k €	-14.4%	170 k €	-7.7%	184,2 k €	-38.7%	300,6 k €	+45.3%	206,8 k €	+50.1%	137,8 k €	+105%	67,1 k €	+7.1%	62,6 k €	+85.9%	33,7 k €	+15.4%	29,2 k €	-30.1%	41,8 k €	-0.0%	41,8 k €	+130%	18,2 k €	+9.2%	16,6 k €	-41.4%	28,4 k €	+14.1%	24,9 k €	+8.9%	22,8 k €	+21.4%	18,8 k €
Total assets	358,6 k €	+4.0%	344,8 k €	-23.9%	453 k €	-5.7%	480,3 k €	+11.0%	432,9 k €	+25.4%	345,1 k €	-7.7%	373,7 k €	+19.7%	312,2 k €	-16.4%	373,4 k €	+5.6%	353,7 k €	+0.8%	350,8 k €	-7.2%	377,9 k €	+3.9%	363,6 k €	-6.3%	387,8 k €	-17.6%	470,8 k €	+33.8%	352 k €	-10.2%	391,8 k €	+15.7%	338,7 k €	-7.9%	367,9 k €
Cash	9,1 k €	-43.9%	16,2 k €	-65.8%	47,3 k €	+148%	19,1 k €	+543%	3 k €	+1580%	176,8 €	-99.6%	49,6 k €	+1598%	2,9 k €	+9.1%	2,7 k €	-94.0%	44,2 k €	-7.8%	48 k €	+99.5%	24 k €	+35.0%	17,8 k €		–		8,8 k €	+13.0%	7,8 k €	-82.7%	45,1 k €	-50.2%	90,4 k €	+46.3%	61,8 k €
Debts	289,1 k €	+49.0%	194 k €	-29.6%	275,6 k €	-4.5%	288,7 k €	+122%	130,1 k €	-4.4%	136,1 k €	-41.8%	234 k €	-3.8%	243,1 k €	-21.3%	308,8 k €	-2.9%	318 k €	-0.5%	319,6 k €	-4.3%	334 k €	+4.5%	319,8 k €	-13.0%	367,7 k €	-18.7%	452,1 k €	+40.6%	321,6 k €	-11.7%	364,4 k €	+16.1%	313,8 k €	-9.4%	346,3 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 30/06/2025 · 1 active · 1 ended

Active mandates

Bill OLIVIER

Director · since 03 septembre 2004

Active

Ended mandates

Olivier BILL

Manager · since 03 septembre 2004

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Abridged model	Abridged model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	10/01/2026	12/11/2024	21/12/2023	01/12/2022	21/02/2022	04/01/2021
General meeting	30/12/2025	12/11/2024	15/12/2023	29/11/2022	29/12/2021	30/12/2020
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

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	30/06/2025	30/12/2025	10/01/2026	Dutch	PDF
Micro model	30/06/2024	12/11/2024	12/11/2024	Dutch	PDF
Micro model	30/06/2023	15/12/2023	21/12/2023	Dutch	PDF
Micro model	30/06/2022	29/11/2022	01/12/2022	Dutch	PDF
Abridged model	30/06/2021	29/12/2021	21/02/2022	Dutch	PDF
Abridged model	30/06/2020	30/12/2020	04/01/2021	Dutch	PDF
Abridged model	30/06/2019	26/12/2019	03/01/2020	Dutch	PDF
Micro model	30/06/2018	26/12/2018	30/01/2019	Dutch	PDF
Micro model	30/06/2017	27/12/2017	31/01/2018	Dutch	PDF
Abridged model	30/06/2016	28/12/2016	31/01/2017	Dutch	PDF
Abridged model	30/06/2015	30/12/2015	04/01/2016	Dutch	PDF
Abridged model	30/06/2014	24/12/2014	05/01/2015	Dutch	PDF
Abridged model	30/06/2013	26/12/2013	27/12/2013	Dutch	PDF
Abridged model	30/06/2012	26/12/2012	08/01/2013	Dutch	PDF
Abridged model	30/06/2011	14/12/2011	16/01/2012	Dutch	PDF
Abridged model	30/06/2010	29/12/2010	06/01/2011	Dutch	PDF
Abridged model	30/06/2009	30/12/2009	04/01/2010	Dutch	PDF
Abridged model	30/06/2008	24/12/2008	13/01/2009	Dutch	PDF
Abridged model	30/06/2007	26/12/2007	22/01/2008	Dutch	PDF
Abridged model	30/06/2006	27/12/2006	24/01/2007	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 30/06/2025 · 1 active · 1 ended

Active mandates

Bill OLIVIER

Director · since 03 septembre 2004

Active

Ended mandates

Olivier BILL

Manager · since 03 septembre 2004

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office29/12/2022
MAATSCHAPPELIJKE ZETEL
PDF
Mandates01/07/2019
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Registered office24/05/2011
MAATSCHAPPELIJKE ZETEL
PDF
Registered office31/07/2006
MAATSCHAPPELIJKE ZETEL
PDF
Other06/10/2004
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 2025125,6 k €↑
2024
Annual accounts 202480,6 k €↓
2023
Annual accounts 2023155,8 k €↑
2022
Annual accounts 202299,5 k €↑
2021
Annual accounts 202193,8 k €↑
2020
Annual accounts 202069 k €↓
2019
Annual accounts 201985,7 k €↑
2018
Annual accounts 201859,4 k €↓
2017
Annual accounts 201799,9 k €↑
2016
Annual accounts 201675,5 k €↑
2015
Annual accounts 201564,4 k €↓
2014
Annual accounts 201477 k €↑
2013
Annual accounts 201363,7 k €↑
2012
Annual accounts 201256,5 k €↓
2011
Annual accounts 201193,3 k €↓
2010
Annual accounts 2010103,5 k €↑
2009
Annual accounts 200967 k €↓
2008
Annual accounts 200869 k €↓
2007
Annual accounts 200776,5 k €
03/09/2004
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

GRAY MANAGEMENT

Overview

What does GRAY MANAGEMENT do?

Trend over 19 financial years

Indicative valuation

Board of directors

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