ACTIVE

EMIL FREY Belgique SA

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Financial year 2025 · Closed on 31/12/2025

Net result-1,8 M €-37,0 %over 1 year

Revenue6,7 M €+30,2 %over 1 year

Equity27,8 M €+1,7 %over 1 year

Workforce34,6 ETP+36,2 %over 1 year

Identity

Source · BCE/KBO

EMIL FREY Belgique SA is a Public limited company incorporated in 2006. Its main activity is: Management consultancy activities. Its registered office is in Awans. It employs on average 34,6 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0880.777.717
Incorporation: 11/04/2006
Legal form: Public limited company
Registered office: Rue de Bruxelles 124
4340 Awans · WallonieSee on map
Contributed capital: 39 503 557,00 €
Latest accounts: 31/12/2025
Average workforce: 34,6 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities

Joint committees (2)

200
20000

Signals

Positive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 24 filings

Trend over 15 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	6,7 M €	+30.2%	5,1 M €	+20.7%	4,3 M €	+26.7%	3,4 M €	+59.8%	2,1 M €
EBITDA	488,2 k €	+305%	-237,7 k €	+85.7%	-1,7 M €	-163%	-633,1 k €	-71.3%	-369,7 k €
Operating result	452,1 k €	+278%	-253,7 k €	+84.9%	-1,7 M €	-162%	-640,7 k €	-73.2%	-369,9 k €
Net result	-1,8 M €	-37.0%	-1,3 M €	+37.1%	-2,1 M €	-316%	-515,1 k €	-129%	1,8 M €
Balance sheet
Equity	27,8 M €	+1.7%	27,3 M €	-4.7%	28,6 M €	-7.0%	30,8 M €	-1.6%	31,3 M €
Total assets	101,3 M €	+55.7%	65,1 M €	+2.6%	63,4 M €	-20.6%	79,8 M €	+58.2%	50,5 M €
Cash	36 k €	-98.4%	2,2 M €	-49.7%	4,4 M €	-70.3%	14,7 M €	+361%	3,2 M €
Debts	73,1 M €	+93.8%	37,7 M €	+9.1%	34,6 M €	-29.5%	49 M €	+156%	19,2 M €
Other
Workforce	34,6 ETP	+36.2%	25,4 ETP	-25.7%	34,2 ETP	+26.7%	27,0 ETP	+52.5%	17,7 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Frédéric Vuarin	Managing director28/03/2018 → 28/06/2030
Hervé Miralles	Director13/12/2013 → 28/06/2030

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Jean-Marie ZODO	Managing director15/12/2007 → 2017 accounts
Jean-Jacques FOURMAUX	Director15/12/2007 → 2013 accounts

Other companies at this address

Rue de Bruxelles 124 4340 Awans

Company	CBE no.
ADIMO● Active	0726.840.103
ARUNAS● Active	0707.612.525
Autosphere Finance et Services Belgique● Active	0540.543.188
GROUPE AUTOSPHERE MOTORS● Active	0674.944.014
JAR - LOS● Active	0691.983.647
PREMIUM VO● Active	0700.380.580

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	17/07/2026	24/07/2025	22/07/2024	28/08/2023	29/08/2022	19/07/2021
General meeting	30/06/2026	27/06/2025	28/06/2024	30/06/2023	30/06/2022	17/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 24 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	17/07/2026	French	PDF
Full model	31/12/2024	27/06/2025	24/07/2025	French	PDF
Full model	31/12/2023	28/06/2024	22/07/2024	French	PDF
Consolidated accounts	31/12/2023	28/06/2024	22/01/2025	French	PDF
Full model	31/12/2022	30/06/2023	28/08/2023	French	PDF
Full model	31/12/2021	30/06/2022	29/08/2022	French	PDF
Consolidated accounts	31/12/2021	30/06/2022	17/10/2022	French	PDF
Full model	31/12/2020	17/06/2021	19/07/2021	French	PDF
Consolidated accounts	31/12/2020	01/01/9999	16/07/2021	French	PDF
Full model	31/12/2019	30/10/2020	29/01/2021	French	PDF
Consolidated accounts	31/12/2019	01/01/9999	16/07/2021	French	PDF
Full model	31/12/2018	30/10/2020	21/12/2020	French	PDF
Consolidated accounts	31/12/2018	17/06/2021	16/07/2021	French	PDF
Full model	31/12/2017	15/06/2018	14/06/2019	French	PDF
Full model	31/12/2016	16/06/2017	24/11/2017	French	PDF
Full model	31/12/2015	17/06/2016	31/08/2016	French	PDF
Abridged model	31/12/2014	19/06/2015	31/08/2015	French	PDF
Abridged model	30/06/2013	20/09/2013	27/12/2013	French	PDF
Abridged model	30/06/2012	21/09/2012	18/10/2012	French	PDF
Abridged model	30/06/2011	16/09/2011	13/12/2011	French	PDF
Abridged model	30/06/2010	17/09/2010	18/01/2011	French	PDF
Abridged model	30/06/2009	25/09/2009	22/02/2010	French	PDF
Abridged model	30/06/2008	19/09/2008	26/02/2009	French	PDF
Abridged model	30/06/2007	21/09/2007	27/12/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Frédéric Vuarin	Managing director28/03/2018 → 28/06/2030
Hervé Miralles	Director13/12/2013 → 28/06/2030

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Jean-Marie ZODO	Managing director15/12/2007 → 2017 accounts
Jean-Jacques FOURMAUX	Director15/12/2007 → 2013 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Capital / shares09/04/2026
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Restructuring26/08/2025
CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring14/05/2025
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates30/01/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates19/02/2024
DEMISSIONS, NOMINATIONS
PDF
Capital / shares30/12/2021
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Mandates12/11/2020
DEMISSIONS, NOMINATIONS
PDF
Capital / shares11/09/2019
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings15 filings

Mandates

Frédéric Vuarin

Hervé Miralles

Jean-Marie ZODO

Jean-Jacques FOURMAUX

Odile HEBERT

2006200720082009201020112012201320142015201620172018201920202021202220232024202520262027202820292030

EMIL FREY Belgique SAPGA BELGIQUEHV DEVELOPPEMENT BELGIQUE

Rue de Bruxelles 124, 4340 Awans

Managing director

Director

Managing director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Rue de Bruxelles 124, 4340 AwansCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00330639

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
EMIL FREY Belgique SACurrent	accounts 2017 → 2025	Accounts 2025 · 2026-00330639
PGA BELGIQUE	accounts 2014 → 2016	Accounts 2016 · 2017-70600147
HV DEVELOPPEMENT BELGIQUE	accounts 2008 → 2013	Accounts 2013 · 2013-69900174

Events

31/03/2026
augmentation_capital
2025
Annual accounts 2025-1,8 M €↓
30/06/2025
augmentation_capitalEMIL Frey Holding AG
01/01/2025
augmentation_capitalEmil Frey Holding AG
2024
Annual accounts 2024-1,3 M €↑
28/06/2024
reconductionFrédéric Vuarin · administrateur
28/06/2024
reconductionHervé Miralles · administrateur
28/06/2024
nominationGrégory Gonzalez Rodriguez · représentant permanent du commissaire
2023
Annual accounts 2023-2,1 M €↓
01/01/2023
nominationGrégory GONZALEZ RODRIGUEZ · représentant permanent du commissaire
2022
Annual accounts 2022-515,1 k €↓
2021
Annual accounts 20211,8 M €↑
2017
Annual accounts 2017-595,1 k €↓
2017
Name changeEMIL FREY Belgique SA
2016
Annual accounts 2016-377 k €↓
2015
Annual accounts 2015-45,5 k €↓
2014
Annual accounts 2014-14,2 k €↓
2014
Name changePGA BELGIQUE
2013
Annual accounts 2013147,1 €↓
2012
Annual accounts 20125,9 k €↑
2011
Annual accounts 20115 k €↓
2010
Annual accounts 2010300,1 k €↑
2009
Annual accounts 2009-45,3 k €↓
2008
Annual accounts 2008-15,1 k €
11/04/2006
IncorporationPublic limited company

EMIL FREY Belgique SA

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events