ACTIVE

MODULART

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Financial year 2025 · closed on 31/12/2025

Net result

130,3 k €

+49.5% YoY

Revenue

13,2 M €

-8.2% YoY

Equity

2,5 M €

+2.9% YoY

Workforce

26,3 ETP

+9.1% YoY

What does MODULART do?

MODULART is a Public limited company incorporated in 2004. Its main activity is: Manufacture of concrete products for construction purposes. Its registered office is in Tubize. It employs on average 26,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0870.933.801

Incorporation

31/12/2004

Legal form

Public limited company

Registered office

Rue de la Déportation 218 box C
1480 Tubize · WallonieSee on map

Contributed capital

800 000,00 €

Latest accounts

31/12/2025

Average workforce

26,3 ETP

Activities (NACE)

23610Manufacture of concrete products for construction purposes· main 23610Manufacture of concrete products for construction purposes 26610Manufacture of irradiation, electromedical and electrotherapeutic equipment

Joint committees (4)

10602
124
200
218

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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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
Revenue	13,2 M €	-8.2%	14,4 M €	+10.7%	13 M €	+0.6%	12,9 M €		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	492,5 k €	-14.1%	573,7 k €	+17.4%	488,5 k €	-36.2%	765,4 k €	+39.9%	547 k €	+16.6%	469,2 k €	-19.3%	581,1 k €	+25.2%	464,2 k €	+64.7%	281,8 k €	-34.7%	431,8 k €	-20.8%	545,3 k €	+8.3%	503,3 k €	+14.6%	439,2 k €	-24.6%	582,6 k €	-2.2%	595,6 k €	-28.8%	837 k €	+93.8%	431,9 k €	-34.5%	659,8 k €	-8.0%	717,3 k €	+291%	183,4 k €
Operating result	241,1 k €	-19.5%	299,4 k €	+19.5%	250,6 k €	-46.6%	469 k €	+111%	222 k €	+34.3%	165,3 k €	-29.6%	234,9 k €	+50.7%	155,8 k €	+708%	-25,6 k €	-122%	117,6 k €	-19.7%	146,4 k €	-10.3%	163,1 k €	+252%	46,3 k €	-80.7%	240,7 k €	-2.3%	246,4 k €	-54.6%	542,1 k €	+197%	182,8 k €	-57.8%	433,3 k €	-15.5%	512,4 k €	+8433%	-6,1 k €
Net result	130,3 k €	+49.5%	87,1 k €	+50.4%	57,9 k €	-77.0%	252,1 k €	+206%	82,4 k €	+147%	33,4 k €	-78.3%	154 k €	+44.7%	106,4 k €	+180%	-133,7 k €	-348%	54 k €	-19.6%	67,2 k €	-3.3%	69,4 k €	-19.2%	85,9 k €	-60.4%	217,2 k €	+38.8%	156,4 k €	-61.2%	402,8 k €	+242%	117,9 k €	-62.4%	313,7 k €	-25.5%	421,3 k €	+594%	-85,4 k €
Balance sheet
Equity	2,5 M €	+2.9%	2,5 M €	+3.7%	2,4 M €	+2.4%	2,3 M €	+5.9%	2,2 M €	+2.0%	2,1 M €	+0.4%	2,1 M €	+4.2%	2 M €	+4.2%	2 M €	-7.5%	2,1 M €	+8.0%	2 M €	+1.4%	1,9 M €	+1.4%	1,9 M €	+2.2%	1,9 M €	+16.1%	1,6 M €	+8.9%	1,5 M €	+8.9%	1,4 M €	+7.3%	1,3 M €	+77.2%	713,5 k €	+131%	309,5 k €
Total assets	8,9 M €	+28.7%	7 M €	-6.2%	7,4 M €	-14.4%	8,6 M €	-9.2%	9,5 M €	-4.5%	10 M €	+12.5%	8,9 M €	+32.1%	6,7 M €	-4.2%	7 M €	-15.8%	8,3 M €	+18.1%	7 M €	+9.8%	6,4 M €	-7.9%	7 M €	+3.7%	6,7 M €	+18.2%	5,7 M €	+34.5%	4,2 M €	+8.7%	3,9 M €	+9.3%	3,6 M €	+37.8%	2,6 M €	+5.3%	2,4 M €
Cash	1,6 M €	+487%	272 k €	+103%	133,9 k €	-86.7%	1 M €	+341%	227,6 k €	+6.1%	214,5 k €	-24.1%	282,7 k €	+35.1%	209,2 k €	-39.5%	346,1 k €	+252%	98,4 k €	-59.5%	243,1 k €	+6.3%	228,8 k €	+86.9%	122,4 k €	-54.3%	268 k €	+3908%	6,7 k €	-98.1%	354,5 k €	+154%	139,7 k €	+245%	40,5 k €	-90.6%	430,8 k €	+3860%	10,9 k €
Debts	6,1 M €	+48.6%	4,1 M €	-12.8%	4,7 M €	-21.6%	6,1 M €	-14.5%	7,1 M €	-7.7%	7,7 M €	+16.7%	6,6 M €	+46.1%	4,5 M €	-7.8%	4,9 M €	-18.6%	6 M €	+22.3%	4,9 M €	+14.3%	4,3 M €	-11.1%	4,8 M €	+3.1%	4,7 M €	+19.3%	3,9 M €	+71.5%	2,3 M €	-9.5%	2,5 M €	+20.0%	2,1 M €	+13.0%	1,9 M €	-12.7%	2,1 M €
Other
Workforce	26,3 ETP	+9.1%	24,1 ETP	+1.7%	23,7 ETP	+10.7%	21,4 ETP	-1.8%	21,8 ETP	-12.1%	24,8 ETP	-2.0%	25,3 ETP	+5.9%	23,9 ETP	-5.9%	25,4 ETP	+0.8%	25,2 ETP	-1.9%	25,7 ETP	-3.4%	26,6 ETP	+9.9%	24,2 ETP	+7.6%	22,5 ETP	+16.0%	19,4 ETP	+30.2%	14,9 ETP	+19.2%	12,5 ETP	-3.8%	13,0 ETP	0.0%	13,0 ETP	+35.4%	9,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 21 ended

Active mandates

Brabant-Invest

Director · 0445.206.343

Represented by Aymeric CARPENTIER DE CHANGY

Active

Charles DE TROOSTEMBERGH - DE TROOSTEMBERGH

Director

Active

Ghislain Carpentier de Changy

Managing director

Active

Marc LOUIS

Director

Active

Ended mandates

Pierre Nothomb

Director · since 01 janvier 2017 · until 31 janvier 2017

Ended

Pierre Nothomb

Director · since 28 novembre 2012

Ended

SOCIETE D'INVESTISSEMENT ET DE FINANCEMENT DU BRABANT WALLON

Director · since 27 octobre 2008 · until 30 septembre 2010 · 0430.636.943

Represented by Pierre de Waha

Ended

SOCIETE D'INVESTISSEMENT ET DE FINANCEMENT DU BRABANT WALLON

Director · since 27 octobre 2008 · 0430.636.943

Represented by Pierre de Waha

Ended

At this address

Other companies at this address

Company	CBE no.
Forges de Clabecq● Bankrupt	0400.346.912
MDL PROMOTION● Active	0882.034.757
NEX HOLDING● Active	1039.521.284
SM MODULART-JAMAR● Active	0790.246.330

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full 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	30/06/2026	06/06/2025	22/08/2024	26/06/2023	09/08/2022	27/08/2021
General meeting	24/06/2026	04/06/2025	11/06/2024	08/06/2023	15/06/2022	15/06/2021
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
Full model	31/12/2025	24/06/2026	30/06/2026	French	PDF
Full model	31/12/2024	04/06/2025	06/06/2025	French	PDF
Full model	31/12/2023	11/06/2024	22/08/2024	French	PDF
Full model	31/12/2022	08/06/2023	26/06/2023	French	PDF
Abridged model	31/12/2021	15/06/2022	09/08/2022	French	PDF
Abridged model	31/12/2020	15/06/2021	27/08/2021	French	PDF
Abridged model	31/12/2019	07/07/2020	25/08/2020	French	PDF
Abridged model	31/12/2018	28/05/2019	03/06/2019	French	PDF
Abridged model	31/12/2017	16/05/2018	12/06/2018	French	PDF
Abridged model	31/12/2016	19/05/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	17/05/2016	31/05/2016	French	PDF
Abridged model	31/12/2014	22/06/2015	31/08/2015	French	PDF
Abridged model	31/12/2013	04/06/2014	15/07/2014	French	PDF
Abridged model	31/12/2012	03/06/2013	01/07/2013	French	PDF
Abridged model	31/12/2011	15/05/2012	30/07/2012	French	PDF
Abridged model	31/12/2010	07/06/2011	01/08/2011	French	PDF
Abridged model	31/12/2009	18/05/2010	25/05/2010	French	PDF
Abridged model	31/12/2008	26/05/2009	27/05/2009	French	PDF
Abridged model	31/12/2007	20/05/2008	02/06/2008	French	PDF
Abridged model	31/12/2006	29/05/2007	14/06/2007	French	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 21 ended

Active mandates

Brabant-Invest

Director · 0445.206.343

Represented by Aymeric CARPENTIER DE CHANGY

Active

Charles DE TROOSTEMBERGH - DE TROOSTEMBERGH

Director

Active

Ghislain Carpentier de Changy

Managing director

Active

Marc LOUIS

Director

Active

Ended mandates

Pierre Nothomb

Director · since 01 janvier 2017 · until 31 janvier 2017

Ended

Pierre Nothomb

Director · since 28 novembre 2012

Ended

SOCIETE D'INVESTISSEMENT ET DE FINANCEMENT DU BRABANT WALLON

Director · since 27 octobre 2008 · until 30 septembre 2010 · 0430.636.943

Represented by Pierre de Waha

Ended

SOCIETE D'INVESTISSEMENT ET DE FINANCEMENT DU BRABANT WALLON

Director · since 27 octobre 2008 · 0430.636.943

Represented by Pierre de Waha

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/06/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates14/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS - SIEGE SOCIAL - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates21/09/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates28/06/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates25/10/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates27/06/2013
DEMISSIONS, NOMINATIONS
PDF
Mandates27/06/2013
DEMISSIONS, NOMINATIONS
PDF
Mandates01/02/2011
DEMISSIONS, NOMINATIONS
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 2025130,3 k €↑
2024
Annual accounts 202487,1 k €↑
2023
Annual accounts 202357,9 k €↓
2022
Annual accounts 2022252,1 k €↑
2021
Annual accounts 202182,4 k €↑
2020
Annual accounts 202033,4 k €↓
2019
Annual accounts 2019154 k €↑
2018
Annual accounts 2018106,4 k €↑
2017
Annual accounts 2017-133,7 k €↓
2016
Annual accounts 201654 k €↓
2015
Annual accounts 201567,2 k €↓
2014
Annual accounts 201469,4 k €↓
2013
Annual accounts 201385,9 k €↓
2012
Annual accounts 2012217,2 k €↑
2011
Annual accounts 2011156,4 k €↓
2010
Annual accounts 2010402,8 k €↑
2009
Annual accounts 2009117,9 k €↓
2008
Annual accounts 2008313,7 k €↓
2007
Annual accounts 2007421,3 k €↑
2006
Annual accounts 2006-85,4 k €
31/12/2004
IncorporationPublic 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

MODULART

Overview

What does MODULART 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