ACTIVE

SECURITY MASTERS

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Financial year 2025 · closed on 31/12/2025

Net result

344,2 k €

+73.1% YoY

Revenue

8,1 M €

+4.0% YoY

Equity

606,3 k €

0.0% YoY

Workforce

111,2 ETP

-4.8% YoY

What does SECURITY MASTERS do?

SECURITY MASTERS is a Private limited company incorporated in 2007. Its main activity is: Other professional, scientific and technical activities. Its registered office is in Antwerpen. It employs on average 111,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0892.819.672

Incorporation

16/10/2007

Legal form

Private limited company

Registered office

Oostkaai 9-12A
2170 Antwerpen · FlandreSee on map

Contributed capital

3 218 600,00 €

Latest accounts

31/12/2025

Average workforce

111,2 ETP

Activities (NACE)

74601Other professional, scientific and technical activities· main 80010Security and investigation activities 80100Private security activities

Joint committees (1)

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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		2023		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Revenue	8,1 M €	+4.0%	7,8 M €	+28.1%	6,1 M €	-84.9%	40,1 M €	+157%	15,6 M €	+60.7%	9,7 M €	+7.7%	9 M €	+1.1%	8,9 M €	-12.2%	10,2 M €	-0.2%	10,2 M €	+18.7%	8,6 M €		–		–		–		–		–		–		–
EBITDA	456,6 k €	+26.0%	362,2 k €	+22.7%	295,3 k €	+109%	-3,2 M €	-7638%	-41,7 k €	-105%	769,2 k €	+1056%	66,5 k €	-82.8%	387,7 k €	-19.3%	480,4 k €	-41.5%	820,9 k €	+81.7%	451,7 k €	+16.1%	389 k €	+27.8%	304,3 k €	+143%	125,3 k €	-14.2%	145,9 k €	+107%	70,6 k €	+3.2%	68,5 k €	+82.8%	37,4 k €
Operating result	360,7 k €	+43.7%	251 k €	+19.6%	209,9 k €	+332%	-90,5 k €	+97.5%	-3,6 M €	-606%	709,5 k €	+4188%	-17,4 k €	-106%	295,7 k €	-21.4%	376,4 k €	-49.5%	744,8 k €	+92.4%	387,1 k €	+23.7%	312,8 k €	+36.1%	229,9 k €	+264%	63,1 k €	-41.6%	108,1 k €	+163%	41,1 k €	+18.5%	34,7 k €	+326%	8,1 k €
Net result	344,2 k €	+73.1%	198,8 k €	+22.0%	162,9 k €	+178%	-209,2 k €	+94.2%	-3,6 M €	-832%	493 k €	+986%	-55,6 k €	-132%	172,8 k €	-13.1%	199 k €	-56.3%	455,3 k €	+94.3%	234,3 k €	+26.6%	185,1 k €	+40.9%	131,4 k €	+343%	29,6 k €	-56.3%	67,7 k €	+201%	22,5 k €	+70.7%	13,2 k €	+432%	-4 k €
Balance sheet
Equity	606,3 k €	0.0%	606,3 k €	+5.5%	574,5 k €	+39.6%	411,6 k €	+116%	-2,6 M €	-353%	1 M €	+92.9%	530,7 k €	-9.5%	586,4 k €	+5.9%	553,5 k €	+17.9%	469,7 k €	+14.4%	410,4 k €	+133%	176,1 k €	+0.1%	176 k €	+295%	44,6 k €	+27.6%	34,9 k €	-20.9%	44,1 k €	+104%	21,6 k €	+157%	8,4 k €
Total assets	2,4 M €	-4.2%	2,5 M €	-53.0%	5,3 M €	-18.0%	6,5 M €	-11.0%	7,3 M €	+154%	2,9 M €	+30.7%	2,2 M €	-3.5%	2,3 M €	-13.1%	2,6 M €	-1.4%	2,6 M €	+28.6%	2,1 M €	+2.1%	2 M €	+20.3%	1,7 M €	+98.1%	843,7 k €	+157%	327,9 k €	+19.5%	274,4 k €	-6.9%	294,7 k €	-2.4%	301,9 k €
Cash	393,9 k €	-28.9%	553,7 k €	+541%	86,4 k €	-35.7%	134,5 k €	-47.7%	257 k €	+142%	106 k €	-3.0%	109,3 k €	-75.4%	444 k €	-17.7%	539,9 k €	+27.8%	422,4 k €	+46.4%	288,5 k €	-35.3%	445,8 k €	+628%	61,2 k €		–		22 k €	+123%	9,8 k €	+62.3%	6,1 k €	+166%	2,3 k €
Debts	1,8 M €	-4.0%	1,8 M €	-59.4%	4,5 M €	-21.0%	5,7 M €	-10.6%	6,4 M €	+249%	1,8 M €	+10.6%	1,7 M €	-1.6%	1,7 M €	-18.2%	2,1 M €	-5.6%	2,2 M €	+32.1%	1,6 M €	-8.0%	1,8 M €	+24.8%	1,4 M €	+85.1%	773,3 k €	+191%	266,1 k €	+26.0%	211,2 k €	-22.7%	273,1 k €	+1.4%	269,4 k €
Other
Workforce	111,2 ETP	-4.8%	116,8 ETP	-40.5%	196,2 ETP	-66.5%	586,3 ETP	+103%	289,0 ETP	+83.1%	157,8 ETP	+2.0%	154,7 ETP	-1.2%	156,5 ETP	-5.3%	165,3 ETP	+7.7%	153,5 ETP	+10.1%	139,4 ETP	+5.1%	132,6 ETP	-1.5%	134,6 ETP	+361%	29,2 ETP	+6.2%	27,5 ETP	+17.0%	23,5 ETP	+8.8%	21,6 ETP	+30.9%	16,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Secure Management

Director · since 10 juillet 2018 · 0699.729.492

Represented by Filip Pellens

Active

Ended mandates

Secure Management

Manager · since 10 juillet 2018 · 0699.729.492

Represented by Filip Pellens

Ended

Filip Pellens

Manager · since 12 octobre 2007 · until 10 juillet 2018

Ended

Filip Pellens

Manager · since 12 octobre 2007

Ended

At this address

Other companies at this address

Company	CBE no.
CLEANING MASTERS● Active	0435.474.471
GREEN MASTERS● Active	0832.152.607
MM HOLDING● Active	0554.742.901
MOBILITY MASTERS● Active	0506.704.640
SAMBAT 1● Active	0737.726.471
SAMBAT 2● Active	0738.729.036
SAMBAT 3● Active	0749.767.735
Techni Masters● Active	0848.117.718

Annual accounts

Full financial information

	2025	2024	2023	2023	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	01/07/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	30/06/2023	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	6 months	18 months	12 months	12 months
Filing date	07/07/2026	17/06/2025	11/07/2024	12/01/2024	28/10/2022	22/07/2021
General meeting	25/05/2026	30/05/2025	28/06/2024	27/12/2023	21/10/2022	29/06/2021
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
Full model	31/12/2025	25/05/2026	07/07/2026	Dutch	PDF
Full model	31/12/2024	30/05/2025	17/06/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	11/07/2024	Dutch	PDF
Full model	30/06/2023	27/12/2023	12/01/2024	Dutch	PDF
Full model	31/12/2021	21/10/2022	28/10/2022	Dutch	PDF
Full model	31/12/2020	29/06/2021	22/07/2021	Dutch	PDF
Full model	31/12/2019	02/06/2020	22/07/2020	Dutch	PDF
Full model	31/12/2018	04/06/2019	27/08/2019	Dutch	PDF
Full model	31/12/2017	05/06/2018	27/08/2018	Dutch	PDF
Full model	31/12/2016	27/06/2017	27/07/2017	Dutch	PDF
Full model	31/12/2015	31/08/2016	29/09/2016	Dutch	PDF
Abridged model	31/12/2014	02/06/2015	27/07/2015	Dutch	PDF
Abridged model	31/12/2013	03/06/2014	30/06/2014	Dutch	PDF
Abridged model	31/12/2012	04/06/2013	25/07/2013	Dutch	PDF
Abridged model	31/12/2011	05/06/2012	17/08/2012	Dutch	PDF
Abridged model	31/12/2010	07/06/2011	19/07/2011	Dutch	PDF
Abridged model	31/12/2009	01/06/2010	17/06/2010	Dutch	PDF
Abridged model	31/12/2008	02/06/2009	25/06/2009	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 1 active · 3 ended

Active mandates

Secure Management

Director · since 10 juillet 2018 · 0699.729.492

Represented by Filip Pellens

Active

Ended mandates

Secure Management

Manager · since 10 juillet 2018 · 0699.729.492

Represented by Filip Pellens

Ended

Filip Pellens

Manager · since 12 octobre 2007 · until 10 juillet 2018

Ended

Filip Pellens

Manager · since 12 octobre 2007

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office15/09/2026
ZETEL
PDF
Other29/09/2023
ALGEMENE VERGADERING - BOEKJAAR
PDF
Capital / shares28/06/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates05/01/2023
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates28/10/2021
ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
PDF
Other16/01/2019
BENAMING
PDF
Registered office25/07/2018
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares29/06/2018
KAPITAAL - AANDELEN
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 2025344,2 k €↑
2024
Annual accounts 2024198,8 k €↑
2023
Annual accounts 2023162,9 k €↑
2023
Annual accounts 2023-209,2 k €↑
2021
Annual accounts 2021-3,6 M €↓
2020
Annual accounts 2020493 k €↑
2019
Annual accounts 2019-55,6 k €↓
2018
Annual accounts 2018172,8 k €↓
2018
Name changeSecurity Masters
2017
Annual accounts 2017199 k €↓
2016
Annual accounts 2016455,3 k €↑
2015
Annual accounts 2015234,3 k €↑
2014
Annual accounts 2014185,1 k €↑
2013
Annual accounts 2013131,4 k €↑
2012
Annual accounts 201229,6 k €↓
2011
Annual accounts 201167,7 k €↑
2010
Annual accounts 201022,5 k €↑
2009
Annual accounts 200913,2 k €↑
2008
Annual accounts 2008-4 k €
2008
Name changeFLANDERS PORT SECURITY
16/10/2007
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

SECURITY MASTERS

Overview

What does SECURITY MASTERS 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