ACTIVE

CUTAWAY

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Financial year 2025 · closed on 31/12/2025

Net result

2,5 M €

-31.1% YoY

Gross margin

-18,6 k €

-108.6% YoY

Equity

89,8 M €

+2.8% YoY

Workforce

0,0 ETP

What does CUTAWAY do?

CUTAWAY is a Private limited company incorporated in 2005. Its main activity is: Management consultancy activities. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0875.629.292

Incorporation

19/08/2005

Legal form

Private limited company

Registered office

Van Putlei 13
2018 Antwerpen · FlandreSee on map

Contributed capital

51 867 400,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

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

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	-18,6 k €	-109%	215,1 k €	+110%	102,4 k €	+7900%	-1,3 k €	-105%	24 k €	+316%	-11,1 k €	-771%	1,7 k €	+162%	-2,7 k €	-1985%	-127,4 €	-202%	125,3 €	+101%	-19 k €	+87.3%	-148,7 k €	-937%	17,8 k €	+160%	-29,7 k €	-154%	54,6 k €	-13.4%	63 k €
EBITDA	-32,8 k €	-116%	202,5 k €	+227%	61,9 k €	+2812%	-2,3 k €	-110%	23 k €	+291%	-12,1 k €	-2546%	493,2 €	+113%	-3,8 k €	-197%	-1,3 k €	-24.7%	-1 k €	+94.9%	-20,1 k €	+59.4%	-49,5 k €	-394%	16,9 k €	+155%	-30,9 k €	-158%	53,1 k €	-14.6%	62,2 k €
Operating result	-294,8 k €	-1771%	17,6 k €	+117%	-101,6 k €	-4352%	-2,3 k €	-110%	23 k €	+291%	-12,1 k €	-2546%	493,2 €	+113%	-3,8 k €	-197%	-1,3 k €	-24.7%	-1 k €	+94.9%	-20,1 k €	+59.4%	-49,5 k €	-394%	16,9 k €	+155%	-30,9 k €	-165%	47,8 k €	-16.0%	56,9 k €
Net result	2,5 M €	-31.1%	3,6 M €	-2.6%	3,7 M €	+25.2%	2,9 M €	+46.7%	2 M €	-2.0%	2 M €	+17.7%	1,7 M €	+6.3%	1,6 M €	+5.0%	1,6 M €	-68.7%	5 M €	+262%	1,4 M €	+47.7%	928,5 k €	-12.0%	1,1 M €	+136%	-3 M €	-2772%	110,6 k €	+30.0%	85,1 k €
Balance sheet
Equity	89,8 M €	+2.8%	87,3 M €	+4.3%	83,7 M €	+10.9%	75,5 M €	+13.8%	66,3 M €	+3.1%	64,3 M €	+0.2%	64,2 M €	+2.8%	62,4 M €	-1.4%	63,3 M €	+2.5%	61,7 M €	+7.6%	57,3 M €	+2.5%	56 M €	+1.7%	55 M €	+2.0%	54 M €	-5.2%	56,9 M €	+1029%	5 M €
Total assets	91,2 M €	+2.2%	89,2 M €	+4.3%	85,5 M €	+12.3%	76,2 M €	+14.1%	66,8 M €	-7.2%	72 M €	+2.5%	70,2 M €	+2.8%	68,3 M €	-0.1%	68,4 M €	+2.6%	66,7 M €	+9.2%	61,1 M €	+2.4%	59,6 M €	+1.0%	59 M €	+0.2%	58,9 M €	-5.3%	62,2 M €	+555%	9,5 M €
Cash	269,5 k €	-8.6%	294,8 k €	+375%	62,1 k €	+8460%	724,9 €	-30.1%	1 k €	+109%	496,1 €	-97.6%	20,4 k €	-79.9%	101,5 k €	+253536%	40 €	-94.0%	669,3 €	-12.5%	764,8 €	+561%	115,6 €	+176%	42 €	-95.2%	870,3 €	+8.8%	799,6 €	+313%	193,7 €
Debts	1,4 M €	-25.1%	1,9 M €	+20.5%	1,6 M €	+228%	474,6 k €	+86.0%	255,1 k €	-96.6%	7,5 M €	+24.6%	6 M €	+2.5%	5,8 M €	+16.0%	5 M €	+2.0%	4,9 M €	+35.5%	3,6 M €	+0.0%	3,6 M €	-6.5%	3,9 M €	-19.4%	4,8 M €	-5.3%	5,1 M €	+23.2%	4,1 M €
Other
Workforce	0,0 ETP		0,0 ETP		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 8 ended

Active mandates

Lander Reijnaers

Director · since 30 juin 2023

Active

Ann Sophie Dekempe

Director

Active

Jan Reijnaers

Director

Active

Ended mandates

Ann Sophie Dekempe

Director · since 17 novembre 2020

Ended

Jan Reijnaers

Director · since 17 novembre 2020

Ended

Ann-Sophie Dekempe

Director

Ended

Ann-Sophie Dekempe

Manager

Ended

At this address

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JFL● Active	0883.285.166
RQI● Active	0798.965.145

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	13/07/2026	28/07/2025	02/08/2024	24/07/2023	18/07/2022	28/07/2021
General meeting	16/06/2026	09/07/2025	09/07/2024	30/06/2023	24/06/2022	29/06/2021
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	16/06/2026	13/07/2026	Dutch	PDF
Abridged model	31/12/2024	09/07/2025	28/07/2025	Dutch	PDF
Abridged model	31/12/2023	09/07/2024	02/08/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	24/07/2023	Dutch	PDF
Abridged model	31/12/2021	24/06/2022	18/07/2022	Dutch	PDF
Abridged model	31/12/2020	29/06/2021	28/07/2021	Dutch	PDF
Abridged model	31/12/2019	30/06/2020	30/07/2020	Dutch	PDF
Abridged model	31/12/2018	20/06/2019	12/07/2019	Dutch	PDF
Abridged model	31/12/2017	27/06/2018	25/07/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	27/07/2017	Dutch	PDF
Abridged model	31/12/2015	19/05/2016	15/06/2016	Dutch	PDF
Abridged model	31/12/2014	28/05/2015	25/06/2015	Dutch	PDF
Abridged model	31/12/2013	29/05/2014	25/06/2014	Dutch	PDF
Abridged model	31/12/2012	16/05/2013	28/05/2013	Dutch	PDF
Abridged model	31/12/2011	18/05/2012	22/05/2012	Dutch	PDF
Abridged model	31/12/2010	19/05/2011	26/05/2011	Dutch	PDF
Abridged model	31/12/2009	20/05/2010	27/05/2010	Dutch	PDF
Abridged model	31/12/2008	22/05/2009	19/06/2009	Dutch	PDF
Abridged model	31/12/2007	15/05/2008	27/05/2008	Dutch	PDF
Abridged model	31/12/2006	17/05/2007	15/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 3 active · 8 ended

Active mandates

Lander Reijnaers

Director · since 30 juin 2023

Active

Ann Sophie Dekempe

Director

Active

Jan Reijnaers

Director

Active

Ended mandates

Ann Sophie Dekempe

Director · since 17 novembre 2020

Ended

Jan Reijnaers

Director · since 17 novembre 2020

Ended

Ann-Sophie Dekempe

Director

Ended

Ann-Sophie Dekempe

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates20/09/2023
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring20/10/2022
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring24/06/2022
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates19/11/2020
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares23/11/2017
KAPITAAL - AANDELEN
PDF
Capital / shares23/02/2015
KAPITAAL - AANDELEN
PDF
Capital / shares04/11/2013
KAPITAAL - AANDELEN
PDF
Capital / shares21/08/2008
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 20252,5 M €↓
2024
Annual accounts 20243,6 M €↓
2023
Annual accounts 20233,7 M €↑
30/06/2023
nominationLander Reijnaers — bestuurder
2021
Annual accounts 20212,9 M €↑
2018
Annual accounts 20182 M €↓
2017
Annual accounts 20172 M €↑
2016
Annual accounts 20161,7 M €↑
2015
Annual accounts 20151,6 M €↑
2014
Annual accounts 20141,6 M €↓
2013
Annual accounts 20135 M €↑
2012
Annual accounts 20121,4 M €↑
2011
Annual accounts 2011928,5 k €↓
2010
Annual accounts 20101,1 M €↑
2009
Annual accounts 2009-3 M €↓
2008
Annual accounts 2008110,6 k €↑
2007
Annual accounts 200785,1 k €
19/08/2005
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

CUTAWAY

Overview

What does CUTAWAY do?

Trend over 16 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