ACTIVE

ETHNA

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Financial year 2025 · closed on 30/09/2025

Net result

-24,8 k €

-219.9% YoY

Gross margin

205,5 k €

-18.2% YoY

Equity

78,8 k €

-23.9% YoY

Workforce

4,3 ETP

-4.4% YoY

What does ETHNA do?

ETHNA is a Private limited company incorporated in 2006. Its registered office is in Andenne. It employs on average 4,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0883.447.492

Incorporation

12/09/2006

Legal form

Private limited company

Registered office

Rue de Gramptinne 38
5300 Andenne · WallonieSee on map

Contributed capital

100 000,00 €

Latest accounts

30/09/2025

Average workforce

4,3 ETP

Signals

Positive cashflowPositive EBITDAHealthy 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	205,5 k €	-18.2%	251,1 k €	+10.1%	228,2 k €	+24.4%	183,5 k €	+2.4%	179,2 k €	-5.4%	189,4 k €	-22.7%	245,1 k €	+23.5%	198,5 k €	+4.8%	189,5 k €	-10.4%	211,4 k €	-6.3%	225,6 k €	+65.2%	136,6 k €	+50.3%	90,8 k €	-32.1%	133,7 k €	+21.2%	110,3 k €	-14.5%	129,1 k €	+59.0%	81,2 k €	+14.7%	70,8 k €	+0.9%	70,1 k €
EBITDA	24,9 k €	-67.9%	77,6 k €	+30.7%	59,3 k €	+140%	24,7 k €	+362%	5,3 k €	-66.1%	15,8 k €	-81.7%	86,4 k €	+66.6%	51,9 k €	-16.9%	62,4 k €	-25.6%	83,8 k €	-21.2%	106,3 k €	+396%	-35,9 k €	-37.9%	-26,1 k €	-127%	97,7 k €	+19.8%	81,6 k €	-18.6%	100,3 k €	+88.4%	53,2 k €	+3.4%	51,5 k €	-7.7%	55,8 k €
Operating result	-6,8 k €	-115%	44,6 k €	+72.7%	25,8 k €	+434%	-7,7 k €	+70.6%	-26,3 k €	-118%	-12 k €	-122%	54,6 k €	+219%	17,1 k €	-19.9%	21,4 k €	-50.1%	42,8 k €	-35.4%	66,3 k €	+188%	-75,1 k €	-16.5%	-64,5 k €	-213%	57,1 k €	+23.4%	46,3 k €	-38.4%	75,1 k €	+173%	27,6 k €	-17.2%	33,3 k €	-29.8%	47,4 k €
Net result	-24,8 k €	-220%	20,7 k €	+586%	3 k €	+110%	-31 k €	+26.7%	-42,4 k €	-49.0%	-28,4 k €	-179%	36,2 k €	+1560%	-2,5 k €	-226%	2 k €	-92.8%	27,1 k €	-42.8%	47,5 k €	+148%	-98,1 k €	-17.1%	-83,8 k €	-364%	31,7 k €	+28.4%	24,7 k €	-36.1%	38,7 k €	+254%	10,9 k €	-56.1%	24,9 k €	-32.9%	37,1 k €
Balance sheet
Equity	78,8 k €	-23.9%	103,6 k €	+25.0%	82,9 k €	+76868%	-108 €	-100%	30,9 k €	-57.8%	73,3 k €	-27.9%	101,7 k €	+55.2%	65,5 k €	-3.6%	68 k €	+3.0%	66 k €	+69.7%	38,9 k €	+556%	-8,5 k €	-110%	89,6 k €	-48.3%	173,4 k €	+22.4%	141,7 k €	+16.6%	121,5 k €	+46.6%	82,9 k €	+15.2%	71,9 k €	+52.8%	47,1 k €
Total assets	378,8 k €	-12.9%	434,8 k €	-6.1%	463 k €	-5.8%	491,4 k €	-2.6%	504,6 k €	-8.8%	553,1 k €	+1.2%	546,4 k €	-2.2%	558,7 k €	-2.8%	574,9 k €	-3.3%	594,7 k €	+0.9%	589,4 k €	-5.0%	620,6 k €	-5.0%	653,5 k €	+38.3%	472,5 k €	+4.7%	451,4 k €	+9.5%	412,4 k €	+2.9%	400,7 k €	+48.2%	270,4 k €	+188%	93,9 k €
Cash	40,1 k €	-6.9%	43,1 k €	-14.0%	50 k €	+9.8%	45,6 k €	-2.9%	46,9 k €	-16.8%	56,5 k €	+21.3%	46,5 k €	+16.4%	40 k €	+40.8%	28,4 k €	+26.9%	22,4 k €	+90.4%	11,7 k €	-24.0%	15,5 k €	+82.4%	8,5 k €	-86.8%	64,4 k €	+12.1%	57,5 k €	+31.7%	43,6 k €	+165%	16,5 k €	+19.9%	13,8 k €	-65.2%	39,6 k €
Debts	298,2 k €	-10.0%	331,2 k €	-12.8%	380 k €	-22.5%	490 k €	+3.7%	472,4 k €	-1.5%	479,4 k €	+8.0%	443,8 k €	-10.0%	493 k €	-2.7%	506,7 k €	-4.0%	527,8 k €	-3.9%	549,4 k €	-12.6%	628,3 k €	+11.4%	563,9 k €	+90.4%	296,2 k €	-4.4%	309,7 k €	+6.5%	290,9 k €	-8.5%	317,9 k €	+60.2%	198,5 k €	+326%	46,5 k €
Other
Workforce	4,3 ETP	-4.4%	4,5 ETP	+2.3%	4,4 ETP	+4.8%	4,2 ETP	-16.0%	5,0 ETP	-7.4%	5,4 ETP	+10.2%	4,9 ETP	-3.9%	5,1 ETP	+15.9%	4,4 ETP	+12.8%	3,9 ETP	+2.6%	3,8 ETP	-9.5%	4,2 ETP	+40.0%	3,0 ETP	+15.4%	2,6 ETP	+160%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	+11.1%	0,9 ETP	+80.0%	0,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 1 active · 5 ended

Active mandates

NICOLAS SCOHIER

Manager · since 17 avril 2013

Active

Ended mandates

Géraldine FALMAGNE

Manager

Ended

Géraldine FLAMAGNE

Manager · until 17 avril 2013

Ended

Géraldine FLAMAGNE

Manager

Ended

Sébastien LAVERDURE

Manager · until 17 avril 2013

Ended

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	14/01/2024	02/05/2023	29/04/2022	29/04/2021
General meeting	08/01/2026	09/01/2025	11/01/2024	09/03/2023	10/03/2022	11/03/2021
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	08/01/2026	30/04/2026	French	PDF
Abridged model	30/09/2024	09/01/2025	30/04/2025	French	PDF
Abridged model	30/09/2023	11/01/2024	14/01/2024	French	PDF
Abridged model	30/09/2022	09/03/2023	02/05/2023	French	PDF
Abridged model	30/09/2021	10/03/2022	29/04/2022	French	PDF
Abridged model	30/09/2020	11/03/2021	29/04/2021	French	PDF
Abridged model	30/09/2019	12/03/2020	29/05/2020	French	PDF
Abridged model	30/09/2018	14/03/2019	30/04/2019	French	PDF
Abridged model	30/09/2017	03/02/2018	25/04/2018	French	PDF
Abridged model	30/09/2016	05/11/2016	10/11/2016	French	PDF
Abridged model	30/09/2015	06/01/2016	25/01/2016	French	PDF
Abridged model	30/09/2014	12/03/2015	25/03/2015	French	PDF
Abridged model	30/09/2013	20/02/2014	20/03/2014	French	PDF
Abridged model	30/06/2012	11/12/2012	24/12/2012	French	PDF
Abridged model	30/06/2011	12/12/2011	27/12/2011	French	PDF
Abridged model	30/06/2010	11/12/2010	23/12/2010	French	PDF
Abridged model	30/06/2009	11/12/2009	24/12/2009	French	PDF
Abridged model	30/06/2008	11/12/2008	19/01/2009	French	PDF
Abridged model	30/06/2007	11/12/2007	20/12/2007	French	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 30/09/2025 · 1 active · 5 ended

Active mandates

NICOLAS SCOHIER

Manager · since 17 avril 2013

Active

Ended mandates

Géraldine FALMAGNE

Manager

Ended

Géraldine FLAMAGNE

Manager · until 17 avril 2013

Ended

Géraldine FLAMAGNE

Manager

Ended

Sébastien LAVERDURE

Manager · until 17 avril 2013

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/03/2023
MODIFICATION FORME JURIDIQUE - DENOMINATION - DEMISSIONS, NOMINATIONS
PDF
Restructuring12/09/2013
DENOMINATION - OBJET - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Other15/07/2013
ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Mandates13/06/2013
DEMISSIONS, NOMINATIONS
PDF
Mandates17/11/2010
DENOMINATION - OBJET
PDF
Other20/09/2006
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 2025-24,8 k €↓
2024
Annual accounts 202420,7 k €↑
2023
Annual accounts 20233 k €↑
2022
Annual accounts 2022-31 k €↑
2021
Annual accounts 2021-42,4 k €↓
2020
Annual accounts 2020-28,4 k €↓
2019
Annual accounts 201936,2 k €↑
2018
Annual accounts 2018-2,5 k €↓
2017
Annual accounts 20172 k €↓
2016
Annual accounts 201627,1 k €↓
2015
Annual accounts 201547,5 k €↑
2014
Annual accounts 2014-98,1 k €↓
2013
Annual accounts 2013-83,8 k €↓
2012
Annual accounts 201231,7 k €↑
2011
Annual accounts 201124,7 k €↓
2010
Annual accounts 201038,7 k €↑
2009
Annual accounts 200910,9 k €↓
2008
Annual accounts 200824,9 k €↓
2007
Annual accounts 200737,1 k €
12/09/2006
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

ETHNA

Overview

What does ETHNA do?

Trend over 19 financial years

Indicative valuation

Board of directors

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