ACTIVE

BOA

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Financial year 2025 · closed on 31/12/2025

Net result

603,9 k €

-6.6% YoY

Gross margin

4 M €

-5.6% YoY

Equity

2,1 M €

+39.3% YoY

Workforce

38,4 ETP

-12.5% YoY

What does BOA do?

BOA is a Private limited company incorporated in 2007. Its main activity is: Advertising agencies. Its registered office is in Menen. It employs on average 38,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0890.993.401

Incorporation

20/07/2007

Legal form

Private limited company

Registered office

Spoorwegstraat 7
8930 Menen · FlandreSee on map

Contributed capital

20 000,00 €

Latest accounts

31/12/2025

Average workforce

38,4 ETP

Activities (NACE)

73110Advertising agencies· main 73110Advertising agencies 74401Other professional, scientific and technical activities 62010Computer programming activities 62020Computer consultancy activities 62100Computer programming, consultancy and related activities+1

Joint committees (4)

100
10000
200
20000

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	4 M €	-5.6%	4,2 M €	+8.1%	3,9 M €	+32.0%	3 M €	+4.5%	2,8 M €	+13.1%	2,5 M €	+6.4%	2,4 M €	-4.9%	2,5 M €	+31.2%	1,9 M €	-5.1%	2 M €	-6.0%	2,1 M €	+13.6%	1,9 M €	+32.4%	1,4 M €	+29.4%	1,1 M €	+46.7%	745,5 k €	+66.9%	446,6 k €	+78.0%	250,8 k €	-43.9%	446,9 k €
EBITDA	1,1 M €	-1.2%	1,1 M €	+68.1%	666,5 k €	+166%	250,9 k €	-2.3%	256,7 k €	+25.8%	204,1 k €	+28.3%	159,1 k €	+8.9%	146,1 k €	-28.5%	204,3 k €	-9.7%	226,2 k €	-61.0%	580,2 k €	-3.8%	603,1 k €	+95.5%	308,6 k €	+13.6%	271,7 k €	+34.1%	202,6 k €	+85.6%	109,1 k €	+279%	-61 k €	-136%	168,8 k €
Operating result	877,8 k €	-8.4%	958,6 k €	+72.9%	554,4 k €	+351%	122,8 k €	-20.2%	153,8 k €	+44.0%	106,8 k €	+210%	34,5 k €	-17.8%	41,9 k €	-54.5%	92,2 k €	+14.0%	80,9 k €	-79.7%	398,7 k €	-1.8%	406,1 k €	+130%	176,3 k €	-8.8%	193,4 k €	+14.2%	169,4 k €	+126%	74,8 k €	+197%	-76,9 k €	-151%	151,7 k €
Net result	603,9 k €	-6.6%	646,6 k €	+83.0%	353,3 k €	+522%	56,8 k €	-34.1%	86,1 k €	+55.7%	55,3 k €	+278%	14,6 k €	+10.1%	13,3 k €	-72.2%	47,9 k €	+15.9%	41,3 k €	-82.4%	234,6 k €	-2.0%	239,5 k €	+68.9%	141,8 k €	+23.9%	114,4 k €	-5.3%	120,8 k €	+92.6%	62,7 k €	+186%	-73,3 k €	-176%	95,8 k €
Balance sheet
Equity	2,1 M €	+39.3%	1,5 M €	+67.6%	915,8 k €	+62.8%	562,5 k €	-5.5%	595 k €	+16.9%	508,9 k €	-15.7%	603,6 k €	-17.8%	733,9 k €	+1.8%	720,6 k €	+7.1%	672,7 k €	+6.5%	631,3 k €	-2.4%	646,8 k €	+58.8%	407,3 k €	+53.4%	265,5 k €	+75.8%	151,1 k €	+67.3%	90,3 k €	+227%	27,6 k €	-72.7%	100,8 k €
Total assets	4,4 M €	+24.5%	3,5 M €	+11.2%	3,2 M €	+22.8%	2,6 M €	+38.3%	1,9 M €	+21.3%	1,5 M €	-8.1%	1,7 M €	-17.1%	2 M €	+31.4%	1,5 M €	+24.1%	1,2 M €	+3.8%	1,2 M €	-10.4%	1,3 M €	+21.5%	1,1 M €	+6.9%	1 M €	+44.4%	714,1 k €	+6.3%	671,8 k €	+29.6%	518,5 k €	-10.3%	578,3 k €
Cash	39,4 k €	-85.8%	277,4 k €	+189%	96,1 k €	-5.6%	101,7 k €	+152%	40,3 k €	-66.3%	119,9 k €	+140%	49,9 k €	+98297%	50,7 €	-98.5%	3,5 k €	-92.3%	45 k €	-24.2%	59,3 k €	-38.0%	95,7 k €	+94.1%	49,3 k €	-62.8%	132,7 k €	+256%	37,3 k €	+88.5%	19,8 k €	+166%	7,4 k €	-71.4%	26 k €
Debts	2,3 M €	+13.4%	2 M €	-11.8%	2,3 M €	+11.8%	2 M €	+58.6%	1,3 M €	+23.4%	1 M €	-4.0%	1,1 M €	-16.6%	1,3 M €	+56.9%	825,8 k €	+44.6%	570,9 k €	+1.1%	564,5 k €	-18.2%	689,9 k €	-0.6%	694,3 k €	-9.3%	765,4 k €	+43.9%	531,9 k €	+3.8%	512,5 k €	+21.6%	421,5 k €	+42.2%	296,3 k €
Other
Workforce	38,4 ETP	-12.5%	43,9 ETP	-8.4%	47,9 ETP	+7.6%	44,5 ETP	+9.3%	40,7 ETP	0.0%	40,7 ETP	+0.5%	40,5 ETP	+22.4%	33,1 ETP	+2.5%	32,3 ETP	-1.2%	32,7 ETP	+4.8%	31,2 ETP	+18.2%	26,4 ETP	+4.3%	25,3 ETP	+34.6%	18,8 ETP	+52.8%	12,3 ETP	+43.0%	8,6 ETP	+10.3%	7,8 ETP	+36.8%	5,7 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 10 ended

Active mandates

Patrick Hanssens

Director

Active

ZUPRE

Director · 0471.676.059

Represented by Ann VERHAEGHE

Active

Ended mandates

Patrick Hanssens

Director · since 17 avril 2023

Ended

ZUPRE

Director · since 17 avril 2023 · 0471.676.059

Represented by Ann VERHAEGHE

Ended

ZUPRE

Director · since 20 décembre 2019 · 0471.676.059

Represented by Ann VERHAEGHE

Ended

Ann Verhaeghe

Director · since 18 juillet 2007 · until 20 décembre 2019

Ended

At this address

Other companies at this address

Company	CBE no.
BOA GROEP BV● Active	0785.577.462
GenX Records● Active	0785.842.431
ZJUST● Active	0795.683.971
ZUPRE● Active	0471.676.059

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	02/04/2026	24/04/2025	02/07/2024	29/06/2023	31/08/2022	20/07/2021
General meeting	26/03/2026	23/04/2025	24/06/2024	26/06/2023	30/08/2022	21/06/2021
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

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/03/2026	02/04/2026	Dutch	PDF
Abridged model	31/12/2024	23/04/2025	24/04/2025	Dutch	PDF
Abridged model	31/12/2023	24/06/2024	02/07/2024	Dutch	PDF
Abridged model	31/12/2022	26/06/2023	29/06/2023	Dutch	PDF
Abridged model	31/12/2021	30/08/2022	31/08/2022	Dutch	PDF
Abridged model	31/12/2020	21/06/2021	20/07/2021	Dutch	PDF
Abridged model	31/12/2019	29/06/2020	17/07/2020	Dutch	PDF
Abridged model	31/12/2018	24/06/2019	15/07/2019	Dutch	PDF
Abridged model	30/09/2017	30/03/2018	27/04/2018	Dutch	PDF
Abridged model	30/09/2016	28/03/2017	28/04/2017	Dutch	PDF
Abridged model	30/09/2015	07/03/2016	31/03/2016	Dutch	PDF
Abridged model	30/09/2014	02/03/2015	31/03/2015	Dutch	PDF
Abridged model	30/09/2013	03/03/2014	28/04/2014	Dutch	PDF
Abridged model	30/09/2012	14/05/2013	24/05/2013	Dutch	PDF
Abridged model	30/09/2011	31/03/2012	27/04/2012	Dutch	PDF
Abridged model	30/09/2010	07/03/2011	28/04/2011	Dutch	PDF
Abridged model	30/09/2009	01/03/2010	11/05/2010	Dutch	PDF
Abridged model	30/09/2008	02/03/2009	23/04/2009	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 2 active · 10 ended

Active mandates

Patrick Hanssens

Director

Active

ZUPRE

Director · 0471.676.059

Represented by Ann VERHAEGHE

Active

Ended mandates

Patrick Hanssens

Director · since 17 avril 2023

Ended

ZUPRE

Director · since 17 avril 2023 · 0471.676.059

Represented by Ann VERHAEGHE

Ended

ZUPRE

Director · since 20 décembre 2019 · 0471.676.059

Represented by Ann VERHAEGHE

Ended

Ann Verhaeghe

Director · since 18 juillet 2007 · until 20 décembre 2019

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/04/2023
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Other09/10/2018
ALGEMENE VERGADERING - BOEKJAAR
PDF
Other21/03/2016
DOEL
PDF
Mandates30/05/2012
ONTSLAGEN - BENOEMINGEN
PDF
Other30/07/2007
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 2025603,9 k €↓
2024
Annual accounts 2024646,6 k €↑
2023
Annual accounts 2023353,3 k €↑
2022
Annual accounts 202256,8 k €↓
2021
Annual accounts 202186,1 k €↑
2020
Annual accounts 202055,3 k €↑
2019
Annual accounts 201914,6 k €↑
2018
Annual accounts 201813,3 k €↓
2017
Annual accounts 201747,9 k €↑
2016
Annual accounts 201641,3 k €↓
2015
Annual accounts 2015234,6 k €↓
2014
Annual accounts 2014239,5 k €↑
2013
Annual accounts 2013141,8 k €↑
2012
Annual accounts 2012114,4 k €↓
2011
Annual accounts 2011120,8 k €↑
2010
Annual accounts 201062,7 k €↑
2009
Annual accounts 2009-73,3 k €↓
2008
Annual accounts 200895,8 k €
20/07/2007
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

BOA

Overview

What does BOA do?

Trend over 18 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