ACTIVE

Security Innovation

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Financial year 2025 · closed on 31/12/2025

Net result

53,5 k €

-25.9% YoY

Gross margin

76,8 k €

-26.7% YoY

Equity

185,8 k €

-23.7% YoY

Workforce

0,0 ETP

What does Security Innovation do?

Security Innovation is a Private limited company incorporated in 2005. Its main activity is: Computer consultancy activities. Its registered office is in Lubbeek.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0871.935.275

Incorporation

14/02/2005

Legal form

Private limited company

Registered office

Raalbeekstraat(LIN) 6
3210 Lubbeek · FlandreSee on map

Contributed capital

15 000,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

62020Computer consultancy activities· main 62200Computer programming, consultancy and related activities 72100Research and experimental development on natural sciences and engineering 62090Other information technology and computer service activities 62900Computer programming, consultancy and related activities 72600Scientific research and development

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	76,8 k €	-26.7%	104,7 k €	+49.8%	69,9 k €	-45.1%	127,2 k €	-4.2%	132,8 k €	+1531%	-9,3 k €	+56.3%	-21,2 k €	+57.5%	-50 k €	-241%	35,6 k €	-71.3%	124,1 k €	-58.5%	298,9 k €	-12.7%	342,5 k €	+42.0%	241,3 k €	+69.0%	142,8 k €	+19.7%	119,3 k €	-16.4%	142,7 k €	+98.9%	71,7 k €	-15.9%	85,3 k €
EBITDA	73 k €	-29.0%	102,9 k €	+50.9%	68,2 k €	-45.5%	125,1 k €	-4.5%	131 k €	+1344%	-10,5 k €	+53.5%	-22,6 k €	+57.3%	-53 k €	-259%	33,4 k €	-71.4%	116,7 k €	-46.1%	216,4 k €	+11.5%	194 k €	+68.3%	115,3 k €	+2032%	-6 k €	+75.4%	-24,3 k €	-158%	41,9 k €	-2.1%	42,8 k €	-42.8%	74,9 k €
Operating result	71,6 k €	-29.5%	101,6 k €	+66.6%	61 k €	-47.9%	117,1 k €	-3.5%	121,4 k €	+604%	-24,1 k €	+36.8%	-38,1 k €	+45.3%	-69,6 k €	-498%	17,5 k €	-80.7%	90,6 k €	-53.9%	196,6 k €	+14.9%	171,1 k €	+79.0%	95,6 k €	+449%	-27,4 k €	+27.6%	-37,8 k €	-266%	22,8 k €	-24.1%	30 k €	-3.7%	31,2 k €
Net result	53,5 k €	-25.9%	72,2 k €	+67.1%	43,2 k €	-41.4%	73,7 k €	-15.7%	87,4 k €	+376%	-31,7 k €	+30.6%	-45,7 k €	+35.3%	-70,5 k €	-1666%	4,5 k €	-88.8%	40,4 k €	-58.5%	97,3 k €	+7.4%	90,6 k €	+90.8%	47,5 k €	+203%	-45,9 k €	+14.1%	-53,4 k €	-2350%	2,4 k €	-66.2%	7 k €	-12.6%	8 k €
Balance sheet
Equity	185,8 k €	-23.7%	243,7 k €	+42.1%	171,4 k €	+33.7%	128,2 k €	+135%	54,5 k €	+315%	-25,3 k €	-495%	6,4 k €	-87.7%	52,1 k €	-56.2%	118,9 k €	+6.2%	112 k €	+56.4%	71,6 k €	+157%	27,9 k €	+257%	-17,7 k €	+72.8%	-65,2 k €	-238%	-19,3 k €	-157%	34,1 k €	+7.5%	31,8 k €	+5.8%	30 k €
Total assets	360,4 k €	+24.9%	288,5 k €	+14.7%	251,6 k €	+9.4%	229,9 k €	+51.6%	151,6 k €	+301%	37,8 k €	-76.2%	159,2 k €	-20.1%	199,2 k €	-38.5%	323,7 k €	-47.9%	621,3 k €	+48.9%	417,2 k €	+7.9%	386,6 k €	-14.7%	453,3 k €	+12.9%	401,5 k €	+34.1%	299,5 k €	+31.1%	228,5 k €	-8.3%	249,2 k €	+39.9%	178,1 k €
Cash	24,5 k €	+317%	5,9 k €	-40.7%	9,9 k €	+105%	4,8 k €	-44.3%	8,7 k €	+119%	4 k €	-43.5%	7 k €		–		–		–		87,6 k €	+27.1%	68,9 k €	-5.2%	72,7 k €	+350%	16,1 k €	+123%	7,2 k €		–		1 €		–
Debts	172,3 k €	+293%	43,8 k €	-45.3%	80,1 k €	-20.7%	101 k €	+4.0%	97,1 k €	+53.8%	63,1 k €	-58.5%	152,3 k €	+3.5%	147,2 k €	-28.1%	204,8 k €	-59.8%	509,3 k €	+48.7%	342,4 k €	+1.4%	337,8 k €	-25.0%	450,6 k €	-1.1%	455,7 k €	+42.9%	318,8 k €	+64.0%	194,3 k €	-10.5%	217,1 k €	+51.3%	143,5 k €
Other
Workforce	0,0 ETP		0,0 ETP		0,0 ETP		0,0 ETP		–		–		–		–		–		–		2,5 ETP	0.0%	2,5 ETP	0.0%	2,5 ETP	-28.6%	3,5 ETP	0.0%	3,5 ETP	+59.1%	2,2 ETP	+175%	0,8 ETP	+300%	0,2 ETP

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 31/12/2025 · 2 active · 8 ended

Active mandates

Jessica Nieuwdorp

Managing director · since 01 octobre 2009

Active

Erwin GEIRNAERT

Managing director · since 14 février 2005

Active

Ended mandates

Jessica Nieuwdorp

Manager · since 01 octobre 2009

Ended

Jessica NIEUWDORP

Director · since 01 octobre 2009

Ended

Erwin GEIRNAERT

Director · since 14 février 2005

Ended

Geirnaert Erwin

Manager · since 14 février 2005

Ended

At this address

Other companies at this address

Company	CBE no.
Shift Left Security● Active	0726.743.794

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	12/08/2026	27/05/2025	19/06/2024	18/08/2023	21/06/2022	02/07/2021
General meeting	10/08/2026	16/05/2025	14/06/2024	20/07/2023	17/06/2022	18/06/2021
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
Abridged model	31/12/2025	10/08/2026	12/08/2026	Dutch	PDF
Abridged model	31/12/2024	16/05/2025	27/05/2025	Dutch	PDF
Abridged model	31/12/2023	14/06/2024	19/06/2024	Dutch	PDF
Abridged model	31/12/2022	20/07/2023	18/08/2023	Dutch	PDF
Abridged model	31/12/2021	17/06/2022	21/06/2022	Dutch	PDF
Abridged model	31/12/2020	18/06/2021	02/07/2021	Dutch	PDF
Abridged model	31/12/2019	19/06/2020	14/10/2020	Dutch	PDF
Micro model	31/12/2018	21/06/2019	30/08/2019	Dutch	PDF
Micro model	31/12/2017	15/06/2018	30/09/2018	Dutch	PDF
Micro model	31/12/2016	19/05/2017	30/09/2017	Dutch	PDF
Abridged model	31/12/2015	20/05/2016	13/03/2017	Dutch	PDF
Abridged model	31/12/2014	19/06/2015	17/09/2015	Dutch	PDF
Abridged model	31/12/2013	02/12/2014	10/02/2015	Dutch	PDF
Abridged model	31/12/2012	21/06/2013	24/09/2013	Dutch	PDF
Abridged model	31/12/2011	15/06/2012	21/08/2012	Dutch	PDF
Abridged model	31/12/2010	17/06/2011	22/08/2011	Dutch	PDF
Abridged model	31/12/2009	18/06/2010	23/06/2010	Dutch	PDF
Abridged model	31/12/2008	19/06/2009	26/06/2009	Dutch	PDF
Abridged model	31/12/2007	20/06/2008	29/08/2008	Dutch	PDF
Abridged model	31/12/2006	15/06/2007	17/07/2007	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 31/12/2025 · 2 active · 8 ended

Active mandates

Jessica Nieuwdorp

Managing director · since 01 octobre 2009

Active

Erwin GEIRNAERT

Managing director · since 14 février 2005

Active

Ended mandates

Jessica Nieuwdorp

Manager · since 01 octobre 2009

Ended

Jessica NIEUWDORP

Director · since 01 octobre 2009

Ended

Erwin GEIRNAERT

Director · since 14 février 2005

Ended

Geirnaert Erwin

Manager · since 14 février 2005

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/12/2023
WIJZIGING RECHTSVORM - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Registered office05/07/2016
MAATSCHAPPELIJKE ZETEL
PDF
Restructuring03/06/2014
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring03/01/2014
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Registered office15/02/2013
MAATSCHAPPELIJKE ZETEL
PDF
Registered office06/08/2012
MAATSCHAPPELIJKE ZETEL
PDF
Registered office16/11/2009
MAATSCHAPPELIJKE ZETEL
PDF
Mandates16/11/2009
ONTSLAGEN - BENOEMINGEN
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 202553,5 k €↓
2024
Annual accounts 202472,2 k €↑
2023
Annual accounts 202343,2 k €↓
2022
Annual accounts 202273,7 k €↓
2021
Annual accounts 202187,4 k €↑
2018
Annual accounts 2018-31,7 k €↑
2017
Annual accounts 2017-45,7 k €↑
2016
Annual accounts 2016-70,5 k €↓
2015
Annual accounts 20154,5 k €↓
2014
Annual accounts 201440,4 k €↓
2013
Annual accounts 201397,3 k €↑
2012
Annual accounts 201290,6 k €↑
2011
Annual accounts 201147,5 k €↑
2010
Annual accounts 2010-45,9 k €↑
2009
Annual accounts 2009-53,4 k €↓
2008
Annual accounts 20082,4 k €↓
2007
Annual accounts 20077 k €↓
2006
Annual accounts 20068 k €
14/02/2005
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

Security Innovation

Overview

What does Security Innovation do?

Trend over 18 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