ACTIVE

CATHIE ASSOCIATES

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Financial year 2025 · closed on 31/12/2025

Net result

222 k €

-46.4% YoY

Gross margin

1,9 M €

-12.3% YoY

Equity

1,1 M €

+26.0% YoY

Workforce

10,3 ETP

-6.4% YoY

What does CATHIE ASSOCIATES do?

CATHIE ASSOCIATES is a Public limited company incorporated in 2005. Its main activity is: Engineering activities and related technical consultancy. Its registered office is in Machelen (Brab.). It employs on average 10,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0871.376.932

Incorporation

21/01/2005

Legal form

Public limited company

Registered office

Jan Mommaertslaan 22
1831 Machelen (Brab.) · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

10,3 ETP

Activities (NACE)

71121Engineering activities and related technical consultancy· main 71121Engineering activities and related technical consultancy 74203Photographic activities

Joint committees (3)

Contacts

3 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

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	1,9 M €	-12.3%	2,2 M €	+34.4%	1,7 M €	+43.4%	1,2 M €	+39.7%	823,9 k €	+1.8%	809,6 k €	-16.7%	972 k €	+42.1%	683,8 k €	+23.7%	552,9 k €	+10.5%	500,2 k €	-25.0%	667,3 k €	-3.5%	691,5 k €	-23.0%	898,4 k €	+5.5%	851,8 k €	-27.7%	1,2 M €	+38.5%	850,7 k €	+49.1%	570,7 k €	-9.2%	628,8 k €	+17.9%	533,5 k €	+65.3%	322,8 k €
EBITDA	401,4 k €	-28.9%	564,3 k €	+58.9%	355 k €	+20.9%	293,6 k €	+2339%	-13,1 k €	+87.7%	-106,5 k €	-160%	176,8 k €	+320%	42,1 k €	+368%	-15,7 k €	+81.0%	-82,8 k €	-244%	57,4 k €	-43.5%	101,6 k €	+117%	46,7 k €	+423%	-14,5 k €	-104%	399,7 k €	+24.0%	322,5 k €	+352%	71,4 k €	-64.3%	199,7 k €	-18.2%	244,3 k €	+40.7%	173,6 k €
Operating result	329,6 k €	-40.5%	554,2 k €	+75.1%	316,6 k €	+4.5%	302,9 k €	+602%	43,2 k €	+122%	-197,8 k €	-218%	167,8 k €	+416%	32,5 k €	+203%	-31,6 k €	+66.8%	-95,3 k €	-990%	10,7 k €	-86.2%	77,6 k €	+290%	19,9 k €	+139%	-50,7 k €	-114%	360,6 k €	+25.7%	286,8 k €	+965%	26,9 k €	-83.7%	165,2 k €	-26.5%	224,9 k €	+47.5%	152,4 k €
Net result	222 k €	-46.4%	414,4 k €	+93.1%	214,7 k €	-22.1%	275,7 k €	+461%	49,1 k €	+121%	-239,3 k €	-433%	71,9 k €	+172%	26,4 k €	+148%	-55,3 k €	+53.4%	-118,6 k €	-968%	-11,1 k €	-193%	11,9 k €	+276%	3,2 k €	+107%	-44,4 k €	-121%	213,7 k €	+17.8%	181,4 k €	+842%	19,2 k €	-76.7%	82,5 k €	-55.8%	186,8 k €	+84.1%	101,5 k €
Balance sheet
Equity	1,1 M €	+26.0%	853,7 k €	+94.3%	439,3 k €	+95.5%	224,7 k €	+541%	-51 k €	+49.1%	-100,1 k €	-172%	139,2 k €	+107%	67,4 k €	+64.4%	41 k €	-57.4%	96,3 k €	-55.2%	214,9 k €	-4.9%	226 k €	+5.5%	214,2 k €	+1.5%	211 k €	-17.4%	255,4 k €	+41.4%	180,7 k €	+17.1%	154,3 k €	-21.7%	197 k €	+11.6%	176,5 k €	+4.1%	169,5 k €
Total assets	3,3 M €	+22.0%	2,7 M €	+42.8%	1,9 M €	+5.4%	1,8 M €	+56.4%	1,1 M €	+23.2%	927,4 k €	-29.7%	1,3 M €	+11.4%	1,2 M €	+4.9%	1,1 M €	-13.8%	1,3 M €	+12.7%	1,2 M €	-10.7%	1,3 M €	+4.2%	1,2 M €	+9.7%	1,1 M €	-22.2%	1,5 M €	+46.3%	999,7 k €	+48.1%	675 k €	-8.7%	739,3 k €	+9.8%	673,4 k €	+58.1%	425,9 k €
Cash	16 €	-45.5%	29,4 €	-100.0%	196 k €	-23.2%	255,3 k €	+636%	34,7 k €	-77.1%	151,7 k €	-9.6%	167,8 k €	+42.7%	117,6 k €	+1454%	7,6 k €	-94.2%	129,6 k €	+288%	33,4 k €	-46.8%	62,8 k €	+457%	11,3 k €	-95.4%	246,7 k €	-64.7%	699,3 k €	+190%	240,8 k €	+703%	30 k €	-77.8%	135 k €	-8.6%	147,7 k €	+26.7%	116,6 k €
Debts	2,2 M €	+20.2%	1,8 M €	+27.1%	1,4 M €	-7.6%	1,6 M €	+46.4%	1,1 M €	+22.4%	872,1 k €	-24.2%	1,2 M €	+6.7%	1,1 M €	+0.9%	1,1 M €	-8.0%	1,2 M €	+33.7%	868,6 k €	-10.9%	975,2 k €	-3.7%	1 M €	+24.3%	814,8 k €	-12.4%	930,2 k €	+48.9%	624,5 k €	+40.7%	443,9 k €	-1.0%	448,3 k €	+12.1%	399,9 k €	+128%	175,7 k €
Other
Workforce	10,3 ETP	-6.4%	11,0 ETP	+6.8%	10,3 ETP	+30.4%	7,9 ETP	-1.2%	8,0 ETP	-7.0%	8,6 ETP	+11.7%	7,7 ETP	+4.1%	7,4 ETP	-11.9%	8,4 ETP	0.0%	8,4 ETP	-19.2%	10,4 ETP	+10.6%	9,4 ETP	-23.0%	12,2 ETP	-5.4%	12,9 ETP	+17.3%	11,0 ETP	+22.2%	9,0 ETP	+12.5%	8,0 ETP	+33.3%	6,0 ETP	+39.5%	4,3 ETP	+72.0%	2,5 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 · 6 active · 49 ended

Active mandates

KOEN DE VYLDER

Director · since 06 décembre 2024 · until 26 juin 2026

Active

ALAIN BURGRAEVE

Director · since 18 août 2023 · until 26 juin 2026

Active

BART VANDEMEULEBROUCKE

Director · since 18 août 2023 · until 26 juin 2026

Active

CHRISTOPHE JAECK

Director · since 18 août 2023 · until 26 juin 2026

Active

INGRID BEULS

Director · since 18 août 2023 · until 26 juin 2026

Active

STUART PAPWORTH

Director · since 18 août 2023 · until 12 juin 2026

Active

Ended mandates

KOEN DE VYLDER

Director · since 06 décembre 2024 · until 06 mai 2026

Ended

ALAIN BURGRAEVE

Director · since 18 août 2023 · until 06 mai 2026

Ended

BART VANDEMEULEBROUCKE

Director · since 18 août 2023 · until 06 mai 2026

Ended

CHRISTOPHE JAECK

Director · since 18 août 2023 · until 06 mai 2026

Ended

At this address

Other companies at this address

Company	CBE no.
AddRetail● Bankrupt	0641.968.962
Cathie Associates Holding● Active	0886.739.851
MVCI● Active	0786.866.869
NET FUND EUROPE● Active	0465.995.423
V3 Finance● Active	0736.673.626
V3 FLP● Active	0728.482.668
V3 GP● Active	0728.469.505
V4 CIV● Active	1007.508.316
V4 COV● Active	1009.185.426
V4 GP● Active	1007.309.168
V4 TM● Active	1022.415.830
VCD GP● Active	1033.762.355
VCM CONSULT● Active	0774.475.219
VENDIS CAPITAL● Liquidation	0819.787.778
VENDIS CAPITAL II● Active	0507.663.851
Vendis Capital III● Active	0728.763.176
VENDIS CAPITAL INVESTMENT POOL● Liquidation	0508.669.483
VENDIS CAPITAL INVESTMENT POOL II● Active	0633.696.743
Vendis Capital Investment Pool IV A● Active	1008.065.570
Vendis Capital Investment Pool IV B● Active	1008.065.273

Annual accounts

Full financial information

	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	01/01/2025	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	29/06/2026	16/10/2025	03/10/2024	08/08/2023	09/09/2022	26/10/2021
General meeting	26/06/2026	15/10/2025	30/09/2024	09/06/2023	12/08/2022	05/05/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/06/2026	29/06/2026	Dutch	PDF
Abridged model	31/12/2024	15/10/2025	16/10/2025	Dutch	PDF
Abridged model	31/12/2023	30/09/2024	03/10/2024	Dutch	PDF
Abridged model	31/12/2022	09/06/2023	08/08/2023	Dutch	PDF
Abridged model	31/12/2021	12/08/2022	09/09/2022	Dutch	PDF
Abridged model	31/12/2020	05/05/2021	26/10/2021	Dutch	PDF
Abridged model	31/12/2019	06/05/2020	29/09/2020	Dutch	PDF
Abridged model	31/12/2018	02/05/2019	28/06/2019	Dutch	PDF
Abridged model	31/12/2017	02/05/2018	28/06/2018	Dutch	PDF
Abridged model	31/12/2016	03/05/2017	30/06/2017	Dutch	PDF
Abridged model	31/12/2015	04/05/2016	28/07/2016	Dutch	PDF
Abridged model	31/12/2014	06/05/2015	29/07/2015	Dutch	PDF
Abridged model	31/12/2013	07/05/2014	09/07/2014	Dutch	PDF
Abridged model	31/12/2012	16/05/2013	26/07/2013	French	PDF
Abridged modelCorrection	31/12/2011	15/05/2012	28/09/2012	French	PDF
Abridged model	31/12/2011	29/06/2012	30/08/2012	French	PDF
Abridged model	31/12/2010	30/06/2011	31/08/2011	French	PDF
Abridged model	31/12/2009	30/06/2010	30/07/2010	French	PDF
Abridged model	31/12/2008	12/05/2009	23/07/2009	French	PDF
Abridged model	31/12/2007	27/06/2008	08/07/2008	French	PDF
Abridged model	31/12/2006	27/02/2007	18/07/2007	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 · 6 active · 49 ended

Active mandates

KOEN DE VYLDER

Director · since 06 décembre 2024 · until 26 juin 2026

Active

ALAIN BURGRAEVE

Director · since 18 août 2023 · until 26 juin 2026

Active

BART VANDEMEULEBROUCKE

Director · since 18 août 2023 · until 26 juin 2026

Active

CHRISTOPHE JAECK

Director · since 18 août 2023 · until 26 juin 2026

Active

INGRID BEULS

Director · since 18 août 2023 · until 26 juin 2026

Active

STUART PAPWORTH

Director · since 18 août 2023 · until 12 juin 2026

Active

Ended mandates

KOEN DE VYLDER

Director · since 06 décembre 2024 · until 06 mai 2026

Ended

ALAIN BURGRAEVE

Director · since 18 août 2023 · until 06 mai 2026

Ended

BART VANDEMEULEBROUCKE

Director · since 18 août 2023 · until 06 mai 2026

Ended

CHRISTOPHE JAECK

Director · since 18 août 2023 · until 06 mai 2026

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/04/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/11/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/11/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/12/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/08/2022
ONTSLAGEN - BENOEMINGEN
PDF
Registered office12/11/2019
MAATSCHAPPELIJKE ZETEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office05/11/2019
SIEGE SOCIAL - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 2025222 k €↓
2024
Annual accounts 2024414,4 k €↑
2023
Annual accounts 2023214,7 k €↓
2022
Annual accounts 2022275,7 k €↑
2021
Annual accounts 202149,1 k €↑
2020
Annual accounts 2020-239,3 k €↓
2019
Annual accounts 201971,9 k €↑
2018
Annual accounts 201826,4 k €↑
2017
Annual accounts 2017-55,3 k €↑
2016
Annual accounts 2016-118,6 k €↓
2015
Annual accounts 2015-11,1 k €↓
2014
Annual accounts 201411,9 k €↑
2013
Annual accounts 20133,2 k €↑
2012
Annual accounts 2012-44,4 k €↓
2011
Annual accounts 2011213,7 k €↑
2010
Annual accounts 2010181,4 k €↑
2009
Annual accounts 200919,2 k €↓
2008
Annual accounts 200882,5 k €↓
2007
Annual accounts 2007186,8 k €↑
2006
Annual accounts 2006101,5 k €
21/01/2005
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

CATHIE ASSOCIATES

Overview

What does CATHIE ASSOCIATES 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