ACTIVE

CAIRN

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Financial year 2025 · closed on 31/12/2025

Net result

16 k €

-74.5% YoY

Gross margin

22 k €

-46.9% YoY

Equity

553,1 k €

+3.0% YoY

What does CAIRN do?

CAIRN is a Private limited company incorporated in 2007. Its main activity is: Other activities auxiliary to financial services, except insurance and pension funding. Its registered office is in Etterbeek.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0892.214.512

Incorporation

21/09/2007

Legal form

Private limited company

Registered office

Avenue de Tervueren 80
1040 Etterbeek · BruxellesSee on map

Contributed capital

100 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

66191Other activities auxiliary to financial services, except insurance and pension funding· main 66191Other activities auxiliary to financial services, except insurance and pension funding

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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	22 k €	-46.9%	41,5 k €	+52.3%	27,2 k €	-49.9%	54,4 k €	-32.4%	80,4 k €	+140%	33,6 k €	-43.5%	59,4 k €	+131%	25,8 k €	-24.7%	34,2 k €	+459%	6,1 k €	-77.1%	26,7 k €	+2064%	1,2 k €	-95.3%	26,3 k €	+77.2%	14,9 k €	-38.0%	24 k €	-79.6%	117,6 k €	+481%	20,3 k €	+293%	-10,5 k €
EBITDA	21,6 k €	-46.4%	40,3 k €	+48.0%	27,2 k €	-49.6%	54 k €	-32.2%	79,6 k €	+138%	33,5 k €	-43.0%	58,8 k €	+132%	25,4 k €	-24.7%	33,7 k €	+522%	5,4 k €	-79.2%	26,1 k €	+3164%	799,4 €	-96.9%	25,9 k €	+79.5%	14,4 k €	-37.7%	23,2 k €	-80.3%	117,6 k €	+493%	19,8 k €	+276%	-11,3 k €
Operating result	21,6 k €	-46.2%	40,2 k €	+52.1%	26,4 k €	-50.2%	53 k €	-32.6%	78,7 k €	+136%	33,3 k €	-43.3%	58,8 k €	+132%	25,4 k €	-24.7%	33,7 k €	+522%	5,4 k €	-79.2%	26,1 k €	+3164%	799,4 €	-96.9%	25,9 k €	+79.5%	14,4 k €	-37.7%	23,2 k €	-80.3%	117,6 k €	+493%	19,8 k €	+276%	-11,3 k €
Net result	16 k €	-74.5%	62,9 k €	+247%	18,1 k €	-49.6%	35,9 k €	-40.9%	60,8 k €	+119%	27,7 k €	-30.4%	39,9 k €	+120%	18,1 k €	-39.3%	29,8 k €	+292%	7,6 k €	-73.8%	29 k €	+1444%	1,9 k €	-67.1%	5,7 k €	-57.1%	13,3 k €	-23.9%	17,4 k €	-77.8%	78,6 k €	+5854%	1,3 k €	+112%	-11 k €
Balance sheet
Equity	553,1 k €	+3.0%	537,1 k €	+13.3%	474,2 k €	+4.0%	456,1 k €	+8.6%	420,1 k €	+16.9%	359,4 k €	+8.4%	331,6 k €	+13.7%	291,8 k €	+6.7%	273,6 k €	+12.2%	243,7 k €	+3.2%	236,1 k €	+14.0%	207,2 k €	+0.9%	205,3 k €	+2.9%	199,6 k €	+7.1%	186,4 k €	+10.3%	168,9 k €	+87.0%	90,3 k €	+1.5%	89 k €
Total assets	578,6 k €	+1.9%	567,6 k €	+12.7%	503,5 k €	+5.0%	479,6 k €	+6.0%	452,7 k €	+11.4%	406,3 k €	+13.2%	359 k €	+15.7%	310,2 k €	-11.6%	350,9 k €	+26.0%	278,5 k €	+13.4%	245,6 k €	+15.7%	212,3 k €	-0.6%	213,5 k €	+5.7%	202 k €	-1.0%	204,2 k €	+11.3%	183,4 k €	+99.8%	91,7 k €	+3.1%	89 k €
Cash	99,2 k €	+29.5%	76,6 k €	-55.7%	173 k €	+20.7%	143,4 k €	+63.8%	87,5 k €	+16.3%	75,3 k €	+246%	21,8 k €	-90.5%	229,3 k €	-10.8%	257,2 k €	+118%	117,9 k €	+68.5%	70 k €	+14.3%	61,2 k €	-66.0%	180 k €	+138%	75,8 k €	+34.4%	56,4 k €	-21.5%	71,8 k €	+46.6%	49 k €	+59.6%	30,7 k €
Debts	720,9 €	+28.3%	561,7 €	-54.8%	1,2 k €	-59.9%	3,1 k €	+22.7%	2,5 k €	-48.7%	4,9 k €	+17.1%	4,2 k €	+1279%	304,9 €	-97.8%	13,7 k €	+194%	4,6 k €	-51.1%	9,5 k €	+86.0%	5,1 k €	-37.9%	8,2 k €	+240%	2,4 k €	-86.4%	17,8 k €	+23.3%	14,4 k €	+931%	1,4 k €		–

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 3 ended

Active mandates

ALPHORION

Mandate · 0476.926.927

Represented by DIRICQ PHILIPPE

Active

DIRICQ PHILIPPE

Mandate

Active

Ended mandates

ALPHORION

Managing director · since 21 septembre 2007 · 0476.926.927

Represented by PHILIPPE DIRICQ

Ended

ALPHORION

Manager · since 21 septembre 2007 · 0476.926.927

Ended

COFINEUR

Manager · 0473.755.126

Represented by ANDRE MARTENS

Ended

At this address

Other companies at this address

Company	CBE no.
ALPHORION● Active	0476.926.927
CHARMOZ● Active	0607.993.822
COFINEUR● Active	0473.755.126
LE BRUSC● Active	0881.929.542
SUN EQUIPMENTS● Active	0425.163.668

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro 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	01/07/2026	18/08/2025	24/07/2024	24/08/2023	16/08/2022	30/06/2021
General meeting	04/06/2026	18/07/2025	01/06/2024	01/06/2023	01/06/2022	02/06/2021
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
Micro model	31/12/2025	04/06/2026	01/07/2026	French	PDF
Micro model	31/12/2024	18/07/2025	18/08/2025	French	PDF
Micro model	31/12/2023	01/06/2024	24/07/2024	French	PDF
Micro model	31/12/2022	01/06/2023	24/08/2023	French	PDF
Abridged model	31/12/2021	01/06/2022	16/08/2022	French	PDF
Abridged model	31/12/2020	02/06/2021	30/06/2021	French	PDF
Micro model	31/12/2019	03/06/2020	26/10/2020	French	PDF
Abridged model	31/12/2018	05/06/2019	29/07/2019	French	PDF
Abridged model	31/12/2017	05/06/2018	30/08/2018	French	PDF
Abridged model	31/12/2016	05/06/2017	25/08/2017	French	PDF
Abridged model	31/12/2015	04/06/2016	29/07/2016	French	PDF
Abridged model	31/12/2014	04/06/2015	31/07/2015	French	PDF
Abridged model	31/12/2013	04/06/2014	11/08/2014	French	PDF
Abridged model	31/12/2012	04/06/2013	25/07/2013	French	PDF
Abridged model	31/12/2011	04/06/2012	06/07/2012	French	PDF
Abridged model	31/12/2010	01/06/2011	13/07/2011	French	PDF
Abridged model	31/12/2009	02/06/2010	30/07/2010	French	PDF
Abridged model	31/12/2008	01/06/2009	28/08/2009	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 3 ended

Active mandates

ALPHORION

Mandate · 0476.926.927

Represented by DIRICQ PHILIPPE

Active

DIRICQ PHILIPPE

Mandate

Active

Ended mandates

ALPHORION

Managing director · since 21 septembre 2007 · 0476.926.927

Represented by PHILIPPE DIRICQ

Ended

ALPHORION

Manager · since 21 septembre 2007 · 0476.926.927

Ended

COFINEUR

Manager · 0473.755.126

Represented by ANDRE MARTENS

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other06/05/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET
PDF
Mandates20/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - SIEGE SOCIAL - DIVERS - DEMISSIONS, NOMINATIONS
PDF
Mandates17/12/2015
démission du co-gérant
PDF
Mandates24/12/2009
Nomination
PDF
Other01/10/2007
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 202516 k €↓
2024
Annual accounts 202462,9 k €↑
2023
Annual accounts 202318,1 k €↓
2022
Annual accounts 202235,9 k €↓
2021
Annual accounts 202160,8 k €↑
2020
Annual accounts 202027,7 k €↓
2019
Annual accounts 201939,9 k €↑
2018
Annual accounts 201818,1 k €↓
2017
Annual accounts 201729,8 k €↑
2016
Annual accounts 20167,6 k €↓
2015
Annual accounts 201529 k €↑
2014
Annual accounts 20141,9 k €↓
2013
Annual accounts 20135,7 k €↓
2012
Annual accounts 201213,3 k €↓
2011
Annual accounts 201117,4 k €↓
2010
Annual accounts 201078,6 k €↑
2009
Annual accounts 20091,3 k €↑
2008
Annual accounts 2008-11 k €
21/09/2007
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

CAIRN

Overview

What does CAIRN 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