ACTIVE

KH

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Financial year 2025 · closed on 30/09/2025

Net result

50,8 k €

+29.7% YoY

Gross margin

61 k €

+100.6% YoY

Equity

318,3 k €

+19.0% YoY

What does KH do?

KH is a Private company with limited liability incorporated in 2004. Its main activity is: Management consultancy activities. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0869.913.024

Incorporation

09/11/2004

Legal form

Private company with limited liability

Registered office

Champ du Vert Chasseur 2
1000 Bruxelles · BruxellesSee on map

Contributed capital

100 000,00 €

Latest accounts

30/09/2025

Activities (NACE)

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

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	61 k €	+101%	30,4 k €	+314%	7,4 k €	+219%	-6,2 k €	+62.8%	-16,6 k €	+76.7%	-71,2 k €	-2055%	3,6 k €	+152%	1,4 k €	+53.3%	942,2 €	-97.2%	34,1 k €	-26.3%	46,2 k €	-67.7%	143,1 k €	+43.0%	100,1 k €	-40.7%	168,7 k €	+97.7%	85,3 k €	-58.9%	207,4 k €	+208%	67,4 k €	-33.1%	100,9 k €	+52.6%	66,1 k €	+282%	-36,3 k €
EBITDA	60,3 k €	+104%	29,5 k €	+369%	6,3 k €	+138%	-16,7 k €	+53.5%	-35,9 k €	+50.9%	-73,1 k €	-6805%	1,1 k €	+196%	-1,1 k €	-87.0%	-605,2 €	-102%	28,8 k €	+1035%	2,5 k €	-98.1%	136,9 k €	+77.9%	76,9 k €	-46.2%	143 k €	+131%	61,9 k €	-67.3%	189,3 k €	+299%	47,4 k €	-44.5%	85,4 k €	+67.6%	51 k €	+198%	-51,8 k €
Operating result	60,3 k €	+106%	29,2 k €	+365%	6,3 k €	+138%	-16,7 k €	+54.3%	-36,6 k €	+51.8%	-75,9 k €	-2033%	-3,6 k €	+30.4%	-5,1 k €	-105%	-2,5 k €	-109%	27,6 k €	+1060%	-2,9 k €	-102%	135,5 k €	+333%	31,3 k €	-65.2%	89,8 k €	+2527%	-3,7 k €	-104%	98,4 k €	+259%	-61,9 k €	-302%	-15,4 k €	-172%	21,4 k €	+122%	-96,6 k €
Net result	50,8 k €	+29.7%	39,1 k €	+251%	11,1 k €	+160%	-18,5 k €	+58.4%	-44,4 k €	+42.9%	-77,8 k €	-1190%	-6 k €	+23.7%	-7,9 k €	-252%	-2,2 k €	+91.9%	-27,9 k €	-110%	281,5 k €	+259%	78,4 k €	+634%	10,7 k €	-85.8%	74,9 k €	+2625%	-3 k €	-104%	69,8 k €	+183%	-83,8 k €	-127%	-36,9 k €	-607%	7,3 k €	+108%	-96,9 k €
Balance sheet
Equity	318,3 k €	+19.0%	267,6 k €	+17.1%	228,4 k €	+5.1%	217,3 k €	-7.8%	235,8 k €	-15.9%	280,2 k €	-21.7%	358 k €	-1.7%	364 k €	-2.1%	371,9 k €	-0.6%	374,2 k €	-6.9%	402,1 k €	+234%	120,5 k €	+186%	42,2 k €	+33.9%	31,5 k €	+173%	-43,4 k €	-7.3%	-40,4 k €	+63.3%	-110,2 k €	-316%	-26,5 k €	-355%	10,4 k €	+122%	-46,9 k €
Total assets	328,3 k €	-44.6%	592,6 k €	-38.6%	965 k €	+20.2%	803,1 k €	+64.8%	487,3 k €	-10.2%	542,5 k €	+0.9%	537,7 k €	-6.3%	573,9 k €	+2.7%	559,1 k €	-4.6%	586,2 k €	-87.4%	4,7 M €	-13.3%	5,4 M €	-5.4%	5,7 M €	+0.2%	5,7 M €	+3.4%	5,5 M €	+268%	1,5 M €	-1.7%	1,5 M €	-43.9%	2,7 M €	+593%	389,3 k €	+29.6%	300,5 k €
Cash	3,4 k €	-79.5%	16,7 k €	-91.8%	203,1 k €	+5190%	3,8 k €	+1142%	309 €	+189%	107 €	-97.8%	5 k €	-23.5%	6,5 k €	+202%	2,1 k €	-84.6%	13,9 k €	+65.4%	8,4 k €	+926%	819,2 €	-88.7%	7,2 k €	-59.0%	17,7 k €	-26.5%	24 k €	+289%	6,2 k €	+194%	2,1 k €	-82.1%	11,7 k €	-60.6%	29,7 k €	-12.8%	34,1 k €
Debts	9,9 k €	-96.9%	325,1 k €	-55.9%	736,6 k €	+25.7%	585,8 k €	+133%	251,5 k €	-4.1%	262,4 k €	+48.1%	177,2 k €	-14.6%	207,4 k €	+12.3%	184,6 k €	-11.9%	209,6 k €	-95.1%	4,3 M €	-19.0%	5,2 M €	-6.9%	5,6 M €	-0.0%	5,6 M €	+2.0%	5,5 M €	+262%	1,5 M €	-5.9%	1,6 M €	-40.4%	2,7 M €	+619%	378,9 k €	+9.1%	347,4 k €
Other
Workforce	–		0,0 ETP		0,0 ETP		–		–		–		–		–		–		–		–		0,1 ETP	-66.7%	0,3 ETP	0.0%	0,3 ETP	0.0%	0,3 ETP	-25.0%	0,4 ETP	0.0%	0,4 ETP	0.0%	0,4 ETP	+300%	0,1 ETP		–

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 4 ended

Active mandates

Carole Vancauwenberghe

Director · since 29 octobre 2004

Active

Jean-Jacques HONORÉ

Director · since 29 octobre 2004

Active

Ended mandates

Carole Vancauwenberghe

Director

Ended

Carole VANCAUWENBERGHE

Manager

Ended

Jean Jacques Honore

Director

Ended

Jean Jacques Honore

Manager

Ended

At this address

Other companies at this address

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EUROFOND● Active	0508.771.829
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ORREGO DEVELOPMENT● Active	0548.765.523

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro 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	19/03/2026	24/03/2025	22/04/2024	27/04/2023	27/04/2022	30/04/2021
General meeting	03/12/2025	19/03/2025	20/02/2024	21/02/2023	15/02/2022	16/02/2021
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	30/09/2025	03/12/2025	19/03/2026	French	PDF
Abridged model	30/09/2024	19/03/2025	24/03/2025	French	PDF
Abridged model	30/09/2023	20/02/2024	22/04/2024	French	PDF
Abridged model	30/09/2022	21/02/2023	27/04/2023	French	PDF
Abridged model	30/09/2021	15/02/2022	27/04/2022	French	PDF
Abridged model	30/09/2020	16/02/2021	30/04/2021	French	PDF
Abridged model	30/09/2019	18/02/2020	29/05/2020	French	PDF
Micro model	30/09/2018	19/03/2019	10/05/2019	French	PDF
Micro model	30/09/2017	29/03/2018	27/04/2018	French	PDF
Abridged model	30/09/2016	09/03/2017	26/03/2017	French	PDF
Abridged model	30/09/2015	15/03/2016	13/04/2016	French	PDF
Abridged model	30/09/2014	07/05/2015	13/05/2015	French	PDF
Abridged model	30/09/2013	18/02/2014	25/04/2014	French	PDF
Abridged model	30/09/2012	18/06/2013	26/08/2013	French	PDF
Abridged model	30/09/2011	21/02/2012	30/05/2012	French	PDF
Abridged model	30/09/2010	15/02/2011	29/04/2011	French	PDF
Abridged model	30/09/2009	16/02/2010	30/04/2010	French	PDF
Abridged model	30/09/2008	19/05/2009	18/12/2009	French	PDF
Abridged model	30/09/2007	19/02/2008	30/05/2008	French	PDF
Abridged model	30/09/2006	20/02/2007	29/05/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

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 30/09/2025 · 2 active · 4 ended

Active mandates

Carole Vancauwenberghe

Director · since 29 octobre 2004

Active

Jean-Jacques HONORÉ

Director · since 29 octobre 2004

Active

Ended mandates

Carole Vancauwenberghe

Director

Ended

Carole VANCAUWENBERGHE

Manager

Ended

Jean Jacques Honore

Director

Ended

Jean Jacques Honore

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office24/04/2024
SIEGE SOCIAL
PDF
Registered office18/12/2020
SIEGE SOCIAL
PDF
Other16/01/2014
OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office04/01/2008
SIEGE SOCIAL
PDF
Other23/11/2004
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 202550,8 k €↑
2024
Annual accounts 202439,1 k €↑
2023
Annual accounts 202311,1 k €↑
2022
Annual accounts 2022-18,5 k €↑
2021
Annual accounts 2021-44,4 k €↑
2020
Annual accounts 2020-77,8 k €↓
2019
Annual accounts 2019-6 k €↑
2018
Annual accounts 2018-7,9 k €↓
2017
Annual accounts 2017-2,2 k €↑
2016
Annual accounts 2016-27,9 k €↓
2015
Annual accounts 2015281,5 k €↑
2014
Annual accounts 201478,4 k €↑
2013
Annual accounts 201310,7 k €↓
2012
Annual accounts 201274,9 k €↑
2011
Annual accounts 2011-3 k €↓
2010
Annual accounts 201069,8 k €↑
2009
Annual accounts 2009-83,8 k €↓
2008
Annual accounts 2008-36,9 k €↓
2007
Annual accounts 20077,3 k €↑
2006
Annual accounts 2006-96,9 k €
09/11/2004
IncorporationPrivate company with limited liability

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

KH

Overview

What does KH 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