ACTIVE

ALMARO

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Financial year 2025 · closed on 30/09/2025

Net result

1,8 M €

+1402.7% YoY

Gross margin

-35,3 k €

-139.4% YoY

Equity

13,8 M €

+15.0% YoY

Workforce

2,0 ETP

0.0% YoY

What does ALMARO do?

ALMARO is a Public limited company incorporated in 2005. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Grimbergen. It employs on average 2,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0877.766.757

Incorporation

07/12/2005

Legal form

Public limited company

Registered office

Sint-Amandsstraat 93
1853 Grimbergen · FlandreSee on map

Contributed capital

4 000 000,00 €

Latest accounts

30/09/2025

Average workforce

2,0 ETP

Activities (NACE)

68201Rental and operating of own or leased real estate· main 68201Rental and operating of own or leased real estate

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	-35,3 k €	-139%	89,6 k €	+48.3%	60,4 k €	+13.7%	53,1 k €	-2.2%	54,3 k €	-98.8%	4,5 M €	+9797%	45 k €	+34.7%	33,4 k €	-65.5%	96,7 k €	+24.8%	77,5 k €	+36.7%	56,7 k €		–		–		–		–		18,8 k €	+1080%	-1,9 k €	+98.6%	-134 k €	-1432%	-8,7 k €
EBITDA	-127,9 k €	-136%	-54,2 k €	+40.8%	-91,5 k €	+82.1%	-511,6 k €	-1594%	-30,2 k €	-101%	4,2 M €	+20588%	-20,5 k €	+73.7%	-77,8 k €	-390%	26,9 k €	+7.7%	24,9 k €	+2152%	-1,2 k €	-104%	32,6 k €	-28.5%	45,5 k €	+18.2%	38,5 k €	+140%	16,1 k €	+11.5%	14,4 k €	+327%	-6,3 k €	+98.9%	-550,6 k €	-5523%	-9,8 k €
Operating result	-227,5 k €	-26.9%	-179,3 k €	+18.8%	-220,8 k €	+65.4%	-637,7 k €	-312%	-154,8 k €	-104%	4,1 M €	+2679%	-158,1 k €	+9.3%	-174,3 k €	-78.8%	-97,5 k €	+0.3%	-97,9 k €	+21.1%	-124 k €	-37.4%	-90,2 k €	-16.8%	-77,3 k €	+8.3%	-84,3 k €	+21.0%	-106,8 k €	+1.5%	-108,4 k €	-1613%	-6,3 k €	+98.9%	-550,6 k €	-5523%	-9,8 k €
Net result	1,8 M €	+1403%	-137,6 k €	+30.6%	-198,2 k €	+29.3%	-280,4 k €	-120%	-127,7 k €	-103%	4,6 M €	+344%	1 M €	+688%	-174,5 k €	-170%	247,7 k €	-21.3%	314,8 k €	+12.7%	279,3 k €	+259%	77,8 k €	-69.9%	258,1 k €	-11.8%	292,6 k €	-54.2%	639,6 k €	+73.9%	367,8 k €	-22.3%	473 k €	+240%	-338,8 k €	-149%	689,1 k €
Balance sheet
Equity	13,8 M €	+15.0%	12 M €	-1.1%	12,1 M €	-1.6%	12,3 M €	-2.2%	12,6 M €	-1.0%	12,7 M €	+55.8%	8,2 M €	+14.4%	7,1 M €	-2.4%	7,3 M €	+3.5%	7,1 M €	+4.7%	6,7 M €	+4.3%	6,5 M €	+1.2%	6,4 M €	-7.8%	6,9 M €	+4.4%	6,6 M €	+10.7%	6 M €	+6.5%	5,6 M €	+9.2%	5,2 M €	+246%	1,5 M €
Total assets	16,9 M €	+11.9%	15,1 M €	-1.6%	15,4 M €	-2.0%	15,7 M €	+24.5%	12,6 M €	-1.0%	12,7 M €	+55.7%	8,2 M €	+13.8%	7,2 M €	-4.0%	7,5 M €	+5.9%	7,1 M €	+4.6%	6,8 M €	+4.5%	6,5 M €	+1.2%	6,4 M €	-7.8%	6,9 M €	+4.4%	6,6 M €	+10.7%	6 M €	+6.6%	5,6 M €	+8.8%	5,2 M €	+246%	1,5 M €
Cash	597,7 k €	+8.0%	553,4 k €	-42.4%	960 k €	-32.0%	1,4 M €	+98.5%	710,9 k €	-83.6%	4,3 M €	+141%	1,8 M €	+35.5%	1,3 M €	-29.3%	1,9 M €	+34.7%	1,4 M €	+30.8%	1,1 M €	+45.0%	735,3 k €	+56.4%	470,3 k €	-50.7%	953,2 k €	+10.7%	860,8 k €	+486%	146,8 k €	+815%	16 k €	-23.6%	21 k €	+147%	8,5 k €
Debts	3,2 M €	+0.3%	3,2 M €	-3.5%	3,3 M €	-3.3%	3,4 M €	+30730%	11 k €	-21.1%	13,9 k €	+10.6%	12,6 k €	-76.1%	52,5 k €	-70.6%	178,9 k €	+2236%	7,7 k €	-37.8%	12,3 k €	+216%	3,9 k €	-28.6%	5,5 k €	+134%	2,3 k €	-46.8%	4,4 k €	-8.6%	4,8 k €	+29.7%	3,7 k €	-82.5%	21,1 k €	+377%	4,4 k €
Other
Workforce	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	+567%	0,3 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 30/09/2025 · 2 active · 16 ended

Active mandates

Michel Cigrang

Managing director · since 20 mars 2023 · until 20 mars 2029

Active

Virginie Leunen

Managing director · since 20 mars 2023 · until 20 mars 2029

Active

Ended mandates

C.GEN

Director · since 20 mars 2017 · until 20 mars 2020 · 0450.896.679

Represented by Michel Cigrang

Ended

C.GEN

Director · since 20 mars 2017 · until 20 mars 2023 · 0450.896.679

Represented by Michel Cigrang

Ended

Camille Cigrang

Director · since 20 mars 2017 · until 20 mars 2023

Ended

Michel Cigrang

Managing director · since 20 mars 2017 · until 20 mars 2023

Ended

At this address

Other companies at this address

Company	CBE no.
ADELPHI● Active	0437.791.682
ALMARON● Active	0876.882.473
ARONA● Active	1042.523.435
BRAND WHITLOCK PROPERTY COMPANY● Active	0865.026.204
CdMZ● Active	0463.229.339
C.GEN● Active	0450.896.679
CLCC● Active	0544.748.535
C. Legal● Active	0880.195.222
CONSULTINVEST● Active	0440.428.104
PESSULUS● Active	0896.384.720
SPIREA● Active	0863.477.766
TRAXUS● Active	0879.223.737
TRILITHON● Active	0477.292.062

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	01/10/2024	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	30/04/2026	30/04/2025	30/08/2024	05/06/2023	28/04/2022	30/04/2021
General meeting	20/03/2026	20/03/2025	20/03/2024	20/03/2023	30/03/2022	30/03/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	20/03/2026	30/04/2026	Dutch	PDF
Abridged model	30/09/2024	20/03/2025	30/04/2025	Dutch	PDF
Abridged model	30/09/2023	20/03/2024	30/08/2024	Dutch	PDF
Abridged model	30/09/2022	20/03/2023	05/06/2023	Dutch	PDF
Abridged model	30/09/2021	30/03/2022	28/04/2022	Dutch	PDF
Abridged model	30/09/2020	30/03/2021	30/04/2021	Dutch	PDF
Abridged model	30/09/2019	31/03/2020	29/04/2020	Dutch	PDF
Abridged model	30/09/2018	20/03/2019	30/04/2019	Dutch	PDF
Abridged model	30/09/2017	20/03/2018	30/04/2018	Dutch	PDF
Abridged model	30/09/2016	20/03/2017	28/03/2017	Dutch	PDF
Abridged model	30/09/2015	20/03/2016	20/04/2016	Dutch	PDF
Full model	30/09/2014	20/03/2015	31/03/2015	Dutch	PDF
Full model	30/09/2013	20/03/2014	30/07/2014	Dutch	PDF
Full model	30/09/2012	20/03/2013	13/05/2013	Dutch	PDF
Full model	30/09/2011	20/03/2012	16/05/2012	Dutch	PDF
Abridged model	30/09/2010	20/03/2011	06/05/2011	Dutch	PDF
Abridged model	30/09/2009	20/03/2010	29/04/2010	Dutch	PDF
Abridged model	30/09/2008	20/03/2009	11/06/2009	Dutch	PDF
Abridged model	30/09/2007	20/03/2008	18/04/2008	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 30/09/2025 · 2 active · 16 ended

Active mandates

Michel Cigrang

Managing director · since 20 mars 2023 · until 20 mars 2029

Active

Virginie Leunen

Managing director · since 20 mars 2023 · until 20 mars 2029

Active

Ended mandates

C.GEN

Director · since 20 mars 2017 · until 20 mars 2020 · 0450.896.679

Represented by Michel Cigrang

Ended

C.GEN

Director · since 20 mars 2017 · until 20 mars 2023 · 0450.896.679

Represented by Michel Cigrang

Ended

Camille Cigrang

Director · since 20 mars 2017 · until 20 mars 2023

Ended

Michel Cigrang

Managing director · since 20 mars 2017 · until 20 mars 2023

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates01/03/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/09/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/05/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/09/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/11/2016
ONTSLAGEN - BENOEMINGEN
PDF
Registered office18/05/2016
MAATSCHAPPELIJKE ZETEL
PDF
Mandates22/01/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/12/2013
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 20251,8 M €↑
2024
Annual accounts 2024-137,6 k €↑
2023
Annual accounts 2023-198,2 k €↑
2022
Annual accounts 2022-280,4 k €↓
2021
Annual accounts 2021-127,7 k €↓
2020
Annual accounts 20204,6 M €↑
2019
Annual accounts 20191 M €↑
2018
Annual accounts 2018-174,5 k €↓
2017
Annual accounts 2017247,7 k €↓
2016
Annual accounts 2016314,8 k €↑
2015
Annual accounts 2015279,3 k €↑
2014
Annual accounts 201477,8 k €↓
2013
Annual accounts 2013258,1 k €↓
2012
Annual accounts 2012292,6 k €↓
2011
Annual accounts 2011639,6 k €↑
2010
Annual accounts 2010367,8 k €↓
2009
Annual accounts 2009473 k €↑
2008
Annual accounts 2008-338,8 k €↓
2007
Annual accounts 2007689,1 k €
07/12/2005
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

ALMARO

Overview

What does ALMARO do?

Trend over 19 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