ACTIVE

CAMALEX

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

481,1 k €

-29.6% YoY

Gross margin

-8,9 k €

+27.3% YoY

Equity

15,6 M €

+0.5% YoY

What does CAMALEX do?

CAMALEX is a Public limited company incorporated in 2007. Its main activity is: Management consultancy activities. Its registered office is in Malmedy.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0894.507.373

Incorporation

27/12/2007

Legal form

Public limited company

Registered office

Xhoffraix-R.Renier de Brialmont 14
4960 Malmedy · WallonieSee on map

Contributed capital

10 587 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

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

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ 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	-8,9 k €	+27.3%	-12,3 k €	-28.2%	-9,6 k €	-25.7%	-7,6 k €	+35.7%	-11,9 k €	+49.3%	-23,4 k €	-126%	-10,4 k €	-101%	-5,2 k €	+29.3%	-7,3 k €	-17.3%	-6,2 k €	-55.7%	-4 k €	+73.0%	-14,8 k €	-499%	-2,5 k €	+69.7%	-8,1 k €	-160%	-3,1 k €	-90.5%	-1,6 k €	+6.4%	-1,8 k €	-54.3%	-1,1 k €
EBITDA	-11 k €	+22.3%	-14,1 k €	-14.0%	-12,4 k €	-27.0%	-9,7 k €	+30.1%	-13,9 k €	+46.4%	-26 k €	-87.3%	-13,9 k €	-69.9%	-8,2 k €	+32.9%	-12,2 k €	-41.0%	-8,6 k €	-77.6%	-4,9 k €	+68.9%	-15,6 k €	-369%	-3,3 k €	+63.0%	-9 k €	-126%	-4 k €	-57.9%	-2,5 k €	-20.0%	-2,1 k €	-14.8%	-1,8 k €
Operating result	-11 k €	+22.3%	-14,1 k €	-14.0%	-12,4 k €	-27.0%	-9,7 k €	+30.1%	-13,9 k €	+46.4%	-26 k €	-87.3%	-13,9 k €	-69.9%	-8,2 k €	+32.9%	-12,2 k €	-41.0%	-8,6 k €	-77.6%	-4,9 k €	+68.9%	-15,6 k €	-369%	-3,3 k €	+63.0%	-9 k €	-126%	-4 k €	+27.0%	-5,5 k €	-8.4%	-5 k €	-5.7%	-4,8 k €
Net result	481,1 k €	-29.6%	683,4 k €	+57.3%	434,6 k €	-4.8%	456,7 k €	+0.2%	455,8 k €	+13.3%	402,4 k €	-6.5%	430,3 k €	-0.9%	434,1 k €	-10.1%	483,1 k €	+14.6%	421,7 k €	+0.4%	420 k €	+5.8%	397,1 k €	+1.5%	391,1 k €	+9.7%	356,5 k €	+4.3%	341,7 k €	+24.9%	273,6 k €	-13.6%	316,8 k €	+0.3%	315,8 k €
Balance sheet
Equity	15,6 M €	+0.5%	15,5 M €	+1.9%	15,2 M €	+2.9%	14,8 M €	+3.2%	14,3 M €	+3.3%	13,9 M €	-20.6%	17,5 M €	+2.5%	17,1 M €	+0.8%	16,9 M €	+2.1%	16,6 M €	+0.1%	16,6 M €	+2.0%	16,2 M €	+0.8%	16,1 M €	+2.5%	15,7 M €	+1.4%	15,5 M €	+1.4%	15,3 M €	+1.8%	15 M €	+1.6%	14,8 M €
Total assets	17,4 M €	-0.6%	17,5 M €	+0.9%	17,4 M €	+0.7%	17,3 M €	+0.2%	17,2 M €	-5.3%	18,2 M €	+0.9%	18 M €	+0.1%	18 M €	+0.6%	17,9 M €	+4.6%	17,1 M €	+1.9%	16,8 M €	+1.0%	16,6 M €	+3.3%	16,1 M €	+1.6%	15,9 M €	+1.4%	15,6 M €	+2.2%	15,3 M €	+1.3%	15,1 M €	+1.2%	14,9 M €
Cash	99,8 k €	-15.3%	117,9 k €	-65.7%	343,4 k €	+247%	98,9 k €	+26.0%	78,5 k €	+161%	30 k €	-76.2%	126,1 k €	-54.8%	279 k €	-11.1%	314 k €	+75.1%	179,3 k €	-16.6%	214,9 k €	+84.8%	116,3 k €	+121%	52,6 k €	-41.4%	89,8 k €	+201%	29,8 k €	-39.8%	49,5 k €	+452%	9 k €	-85.5%	61,9 k €
Debts	1,8 M €	-8.8%	2 M €	-5.9%	2,1 M €	-12.8%	2,5 M €	-14.6%	2,9 M €	-33.0%	4,3 M €	+691%	543 k €	-42.9%	950,4 k €	-2.5%	974,8 k €	+85.3%	525,9 k €	+120%	239,5 k €	-39.1%	393,4 k €		–		133,3 k €	-1.0%	134,7 k €	+8842%	1,5 k €	-98.1%	79,9 k €	-45.6%	146,9 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 3 ended

Active mandates

Alexandre JORTAY

Director · since 10 décembre 2020 · until 09 décembre 2026

Active

Caroline JORTAY

Director · since 10 décembre 2020 · until 09 décembre 2026

Active

Isabelle NOEL

Managing director · since 10 décembre 2020 · until 09 décembre 2026

Active

Maud JORTAY

Director · since 10 décembre 2020 · until 09 décembre 2026

Active

Ended mandates

SRL MICAM

Director · since 27 décembre 2007 · until 10 décembre 2020 · 0894.509.947

Represented by Isabelle NOEL

Ended

SRL MICAM

Director · since 27 décembre 2007 · 0894.509.947

Represented by Isabelle NOEL

Ended

MICAM SPRL

Mandate · 0894.509.947

Represented by Isabelle NOEL

Ended

At this address

Other companies at this address

Company	CBE no.
CAMALEX IMMO● Active	0560.867.559

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	21/05/2026	02/05/2025	08/07/2024	30/06/2023	01/07/2022	22/06/2021
General meeting	28/04/2026	23/04/2025	10/06/2024	02/06/2023	03/06/2022	04/06/2021
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

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	28/04/2026	21/05/2026	French	PDF
Abridged model	31/12/2024	23/04/2025	02/05/2025	French	PDF
Abridged model	31/12/2023	10/06/2024	08/07/2024	French	PDF
Abridged model	31/12/2022	02/06/2023	30/06/2023	French	PDF
Abridged model	31/12/2021	03/06/2022	01/07/2022	French	PDF
Abridged model	31/12/2020	04/06/2021	22/06/2021	French	PDF
Abridged model	31/12/2019	05/06/2020	02/07/2020	French	PDF
Abridged model	31/12/2018	14/06/2019	22/08/2019	French	PDF
Abridged model	31/12/2017	22/06/2018	09/07/2018	French	PDF
Abridged model	31/12/2016	02/06/2017	16/08/2017	French	PDF
Abridged model	31/12/2015	17/06/2016	18/08/2016	French	PDF
Abridged model	31/12/2014	05/06/2015	20/08/2015	French	PDF
Abridged model	31/12/2013	27/06/2014	22/08/2014	French	PDF
Abridged model	31/12/2012	23/05/2013	04/11/2013	French	PDF
Abridged model	31/12/2011	01/06/2012	31/08/2012	French	PDF
Abridged model	31/12/2010	03/06/2011	17/08/2011	French	PDF
Abridged model	31/12/2009	04/06/2010	20/08/2010	French	PDF
Abridged model	31/12/2008	05/06/2009	28/08/2009	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 4 active · 3 ended

Active mandates

Alexandre JORTAY

Director · since 10 décembre 2020 · until 09 décembre 2026

Active

Caroline JORTAY

Director · since 10 décembre 2020 · until 09 décembre 2026

Active

Isabelle NOEL

Managing director · since 10 décembre 2020 · until 09 décembre 2026

Active

Maud JORTAY

Director · since 10 décembre 2020 · until 09 décembre 2026

Active

Ended mandates

SRL MICAM

Director · since 27 décembre 2007 · until 10 décembre 2020 · 0894.509.947

Represented by Isabelle NOEL

Ended

SRL MICAM

Director · since 27 décembre 2007 · 0894.509.947

Represented by Isabelle NOEL

Ended

MICAM SPRL

Mandate · 0894.509.947

Represented by Isabelle NOEL

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates26/06/2026
DEMISSIONS, NOMINATIONS
PDF
Other25/09/2023
DIVERS
PDF
Mandates12/01/2021
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Other08/01/2008
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 2025481,1 k €↓
2024
Annual accounts 2024683,4 k €↑
2023
Annual accounts 2023434,6 k €↓
2022
Annual accounts 2022456,7 k €↑
2021
Annual accounts 2021455,8 k €↑
2020
Annual accounts 2020402,4 k €↓
2019
Annual accounts 2019430,3 k €↓
2018
Annual accounts 2018434,1 k €↓
2017
Annual accounts 2017483,1 k €↑
2016
Annual accounts 2016421,7 k €↑
2015
Annual accounts 2015420 k €↑
2014
Annual accounts 2014397,1 k €↑
2013
Annual accounts 2013391,1 k €↑
2012
Annual accounts 2012356,5 k €↑
2011
Annual accounts 2011341,7 k €↑
2010
Annual accounts 2010273,6 k €↓
2009
Annual accounts 2009316,8 k €↑
2008
Annual accounts 2008315,8 k €
27/12/2007
IncorporationPublic 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

CAMALEX

Overview

What does CAMALEX 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