ACTIVE

TANGRAM CONSULTING

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Financial year 2025 · closed on 31/12/2025

Net result

8,1 k €

-44.7% YoY

Gross margin

19,9 k €

-22.7% YoY

Equity

157,6 k €

+5.4% YoY

What does TANGRAM CONSULTING do?

TANGRAM CONSULTING is a Public limited company incorporated in 2006. Its registered office is in Binche.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0880.116.731

Incorporation

21/03/2006

Legal form

Public limited company

Registered office

Rue de Walhain(BUV) 97
7133 Binche · WallonieSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Gross margin	19,9 k €	-22.7%	25,7 k €	+0.4%	25,6 k €	+53.9%	16,6 k €	-63.0%	44,9 k €	+71.9%	26,1 k €	-62.7%	69,9 k €	+187%	24,4 k €	-38.6%	39,7 k €	-18.4%	48,7 k €	+33.0%	36,6 k €	-51.8%	76 k €	+1.1%	75,2 k €	-30.5%	108,2 k €	+164%	41 k €	-39.7%	68 k €	+65.7%	41 k €
EBITDA	17,3 k €	-29.5%	24,5 k €	+53.3%	16 k €	+166%	6 k €	-77.1%	26,3 k €	+57.4%	16,7 k €	-56.3%	38,3 k €	+62.7%	23,5 k €	+3.5%	22,7 k €	-52.4%	47,7 k €	+46.3%	32,6 k €	-53.8%	70,5 k €	-5.1%	74,4 k €	-30.9%	107,6 k €	+173%	39,4 k €	-40.1%	65,8 k €	+65.3%	39,8 k €
Operating result	15,1 k €	-34.5%	23,1 k €	+56.8%	14,7 k €	+247%	4,2 k €	-82.8%	24,7 k €	+361%	5,4 k €	-80.9%	28 k €	+128%	12,3 k €	+18.2%	10,4 k €	-72.9%	38,3 k €	+58.6%	24,1 k €	-59.1%	59 k €	-7.0%	63,4 k €	-31.8%	93 k €	+288%	24 k €	-57.8%	56,8 k €	+66.2%	34,2 k €
Net result	8,1 k €	-44.7%	14,6 k €	+81.5%	8,1 k €	+652%	1,1 k €	-93.6%	16,8 k €	+420%	3,2 k €	-83.0%	19 k €	+156%	7,4 k €	+120%	3,4 k €	-77.7%	15,1 k €	+89.4%	8 k €	-77.4%	35,4 k €	-25.4%	47,5 k €	-33.4%	71,4 k €	+373%	15,1 k €	-61.1%	38,8 k €	+15.8%	33,5 k €
Balance sheet
Equity	157,6 k €	+5.4%	149,5 k €	+10.8%	134,9 k €	-46.7%	253,2 k €	+0.4%	252,1 k €	+7.1%	235,3 k €	-2.8%	242 k €	+8.5%	223 k €	+3.4%	215,6 k €	-4.3%	225,2 k €	+7.2%	210,1 k €	+4.0%	202,1 k €	+6.4%	190 k €	+33.3%	142,5 k €	+8.7%	131,2 k €	+13.0%	116,1 k €	+50.1%	77,3 k €
Total assets	164,9 k €	+8.0%	152,8 k €	-2.4%	156,5 k €	-44.6%	282,5 k €	+2.9%	274,6 k €	+10.5%	248,4 k €	-0.2%	248,9 k €	+9.0%	228,4 k €	-0.1%	228,7 k €	-0.7%	230,3 k €	+6.8%	215,5 k €	-13.3%	248,7 k €	+9.6%	226,9 k €	-5.7%	240,6 k €	+17.8%	204,3 k €	+68.4%	121,3 k €	+8.5%	111,8 k €
Cash	67,3 k €	+3.9%	64,8 k €	-1.3%	65,7 k €	-64.4%	184,4 k €	-27.2%	253,4 k €	+42.3%	178,1 k €	-4.2%	185,9 k €	+26.5%	147 k €	+17.2%	125,4 k €	-4.9%	131,9 k €	+42.6%	92,5 k €	+13.5%	81,5 k €	+0.8%	80,8 k €	-47.4%	153,7 k €	+115%	71,4 k €	+78.3%	40 k €	+71.5%	23,3 k €
Debts	7,4 k €	+137%	3,1 k €	-85.7%	21,6 k €	-26.3%	29,3 k €	+30.4%	22,5 k €	+352%	5 k €	-26.3%	6,8 k €	+30.2%	5,2 k €	-60.4%	13,1 k €	+157%	5,1 k €	-7.0%	5,5 k €	-88.3%	46,6 k €	+26.5%	36,8 k €	-62.4%	98,1 k €	+34.1%	73,2 k €	+1295%	5,2 k €	-83.7%	32,2 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 8 ended

Active mandates

FREDERIC KOVAC

Director

Active

Ended mandates

Frédéric Michaël Kovac

Director · since 20 mars 2020

Ended

FREDERIC KOVAC

Manager · since 01 avril 2008

Ended

MICHEL KOVAC

Associate · since 01 avril 2008

Ended

FREDERIC KOVAC

Manager · since 01 avril 2006

Ended

At this address

Other companies at this address

Company	CBE no.
K2B INVEST● Active	0712.521.418

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	08/06/2026	09/07/2025	22/08/2024	07/07/2023	19/08/2022	25/08/2021
General meeting	01/06/2026	02/06/2025	03/06/2024	05/06/2023	06/06/2022	07/06/2021
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
Micro model	31/12/2025	01/06/2026	08/06/2026	French	PDF
Micro model	31/12/2024	02/06/2025	09/07/2025	French	PDF
Micro model	31/12/2023	03/06/2024	22/08/2024	French	PDF
Micro model	31/12/2022	05/06/2023	07/07/2023	French	PDF
Micro model	31/12/2021	06/06/2022	19/08/2022	French	PDF
Micro model	31/12/2020	07/06/2021	25/08/2021	French	PDF
Micro model	31/12/2019	02/06/2020	31/07/2020	French	PDF
Micro model	31/12/2018	03/06/2019	14/08/2019	French	PDF
Micro model	31/12/2017	04/06/2018	30/08/2018	French	PDF
Micro model	31/12/2016	06/06/2017	03/08/2017	French	PDF
Abridged model	31/12/2015	06/06/2016	07/07/2016	French	PDF
Abridged model	31/12/2014	01/06/2015	27/08/2015	French	PDF
Abridged model	31/12/2013	02/06/2014	28/08/2014	French	PDF
Abridged model	31/12/2012	24/06/2013	12/07/2013	French	PDF
Abridged model	31/12/2011	23/06/2012	17/09/2012	French	PDF
Abridged model	31/12/2010	24/06/2011	01/07/2011	French	PDF
Abridged model	31/12/2009	25/06/2010	02/07/2010	French	PDF
Abridged model	31/12/2008	27/06/2009	26/08/2009	French	PDF
Abridged model	31/12/2007	27/06/2008	31/07/2008	French	PDF
Abridged model	31/12/2006	29/06/2007	08/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

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 · 1 active · 8 ended

Active mandates

FREDERIC KOVAC

Director

Active

Ended mandates

Frédéric Michaël Kovac

Director · since 20 mars 2020

Ended

FREDERIC KOVAC

Manager · since 01 avril 2008

Ended

MICHEL KOVAC

Associate · since 01 avril 2008

Ended

FREDERIC KOVAC

Manager · since 01 avril 2006

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/03/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Other30/08/2012
OBJET
PDF
Other31/03/2006
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 20258,1 k €↓
2024
Annual accounts 202414,6 k €↑
2023
Annual accounts 20238,1 k €↑
2022
Annual accounts 20221,1 k €↓
2021
Annual accounts 202116,8 k €↑
2020
Annual accounts 20203,2 k €↓
2019
Annual accounts 201919 k €↑
2018
Annual accounts 20187,4 k €↑
2017
Annual accounts 20173,4 k €↓
2016
Annual accounts 201615,1 k €↑
2015
Annual accounts 20158 k €↓
2014
Annual accounts 201435,4 k €↓
2013
Annual accounts 201347,5 k €↓
2012
Annual accounts 201271,4 k €↑
2011
Annual accounts 201115,1 k €↓
2010
Annual accounts 201038,8 k €↑
2009
Annual accounts 200933,5 k €
21/03/2006
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

TANGRAM CONSULTING

Overview

What does TANGRAM CONSULTING do?

Trend over 17 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