ACTIVE

PALIN

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Financial year 2025 · closed on 30/09/2025

Net result

12,8 k €

-66.0% YoY

Gross margin

93,6 k €

-24.7% YoY

Equity

323,5 k €

+3.6% YoY

What does PALIN do?

PALIN is a Private limited company incorporated in 2008. Its main activity is: Management consultancy activities. Its registered office is in Waregem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0896.345.623

Incorporation

07/03/2008

Legal form

Private limited company

Registered office

Eikenlaan 41
8790 Waregem · FlandreSee on map

Contributed capital

66 000,00 €

Latest accounts

30/09/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 82100Office administrative and support activities 82110Combined office administrative service activities

Joint committees (1)

Signals

ProfitableSolid equityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Gross margin	93,6 k €	-24.7%	124,4 k €	+4.6%	118,9 k €	+21.5%	97,8 k €	+26.9%	77,1 k €	+6.3%	72,6 k €	-7.6%	78,5 k €	-42.0%	135,4 k €	+71.5%	78,9 k €	-1.0%	79,8 k €	+38.0%	57,8 k €	-7.2%	62,3 k €	-38.9%	102,1 k €	+34.9%	75,6 k €	+25.9%	60,1 k €	+6.4%	56,4 k €	-13.1%	65 k €
EBITDA	91,6 k €	-25.2%	122,4 k €	+4.6%	117 k €	+21.4%	96,4 k €	+27.9%	75,4 k €	+9.7%	68,7 k €	-10.6%	76,8 k €	-42.5%	133,5 k €	+74.3%	76,6 k €	-1.2%	77,6 k €	+39.9%	55,4 k €	-7.8%	60,1 k €	+11.7%	53,8 k €	+33.1%	40,4 k €	+41.7%	28,5 k €	-37.7%	45,8 k €	-12.5%	52,3 k €
Operating result	40,5 k €	-44.0%	72,4 k €	+4.5%	69,3 k €	+43.7%	48,2 k €	+62.6%	29,7 k €	+11.1%	26,7 k €	-23.9%	35,1 k €	-62.4%	93,3 k €	+112%	44,1 k €	+9.8%	40,2 k €	+13.4%	35,5 k €	-11.3%	40 k €	+23.2%	32,5 k €	+129%	14,2 k €	+61.0%	8,8 k €	-67.6%	27,2 k €	+72.6%	15,7 k €
Net result	12,8 k €	-66.0%	37,7 k €	-2.1%	38,5 k €	+61.1%	23,9 k €	+89.2%	12,6 k €	+24.3%	10,2 k €	+6.4%	9,5 k €	-80.0%	47,7 k €	+194%	16,2 k €	+6.2%	15,3 k €	+25.3%	12,2 k €	-28.8%	17,1 k €	+15.1%	14,9 k €	+736%	-2,3 k €	+40.0%	-3,9 k €	-155%	7,1 k €	+524%	1,1 k €
Balance sheet
Equity	323,5 k €	+3.6%	312,4 k €	+13.0%	276,4 k €	+15.4%	239,6 k €	+10.3%	217,3 k €	+5.3%	206,3 k €	+4.3%	197,7 k €	+4.6%	189 k €	+33.8%	141,2 k €	+13.0%	125 k €	+13.9%	109,7 k €	+12.5%	97,6 k €	+17.6%	82,9 k €	+21.9%	68,1 k €	-3.3%	70,4 k €	+162%	26,9 k €	+36.2%	19,7 k €
Total assets	600,9 k €	-3.2%	621 k €	+4.1%	596,5 k €	+0.9%	591,4 k €	+3.6%	571 k €	-2.4%	584,8 k €	-0.4%	587,4 k €	-10.4%	655,3 k €	+17.5%	557,8 k €	+2.7%	543,2 k €	+34.2%	404,6 k €	-4.2%	422,4 k €	+0.8%	418,9 k €	-3.0%	431,7 k €	+5.0%	411,2 k €	-2.3%	420,8 k €	-1.5%	427,3 k €
Cash	143,5 k €	+571%	21,4 k €	-70.0%	71,4 k €	+30.4%	54,7 k €	+47.4%	37,2 k €	+96.4%	18,9 k €	-16.6%	22,7 k €	-64.1%	63,2 k €	+765%	7,3 k €	-48.5%	14,2 k €	-81.8%	78,1 k €	+1.9%	76,6 k €	+39.5%	54,9 k €	+12.1%	49 k €	+42.2%	34,4 k €	+10.6%	31,1 k €	+99.3%	15,6 k €
Debts	267,3 k €	-10.5%	298,7 k €	-3.7%	310,1 k €	-9.3%	341,9 k €	-0.5%	343,8 k €	-6.7%	368,5 k €	-2.9%	379,7 k €	-16.8%	456,3 k €	+12.2%	406,6 k €	-0.4%	408,2 k €	+43.3%	284,9 k €	-9.5%	314,9 k €	-3.4%	326 k €	-7.8%	353,6 k €	+6.9%	330,8 k €	-13.8%	383,9 k €	-3.4%	397,6 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		1,1 ETP	+37.5%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP		–

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 30/09/2025 · 2 active · 5 ended

Active mandates

ANGELA BALCAEN

Director · since 01 janvier 2019

Active

PETER CASTRO

Director · since 07 mars 2008

Active

Ended mandates

Angela BALCAEN

Manager · since 01 janvier 2019

Ended

Angela Balcaen

Director · since 27 décembre 2018

Ended

Angela BALCAEN

Director

Ended

Peter CASTRO

Director

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	26/04/2026	17/04/2025	08/04/2024	17/04/2023	25/04/2022	27/04/2021
General meeting	27/03/2026	28/03/2025	29/03/2024	31/03/2023	25/03/2022	31/03/2021
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
Micro model	30/09/2025	27/03/2026	26/04/2026	Dutch	PDF
Micro model	30/09/2024	28/03/2025	17/04/2025	Dutch	PDF
Micro model	30/09/2023	29/03/2024	08/04/2024	Dutch	PDF
Micro model	30/09/2022	31/03/2023	17/04/2023	Dutch	PDF
Micro model	30/09/2021	25/03/2022	25/04/2022	Dutch	PDF
Micro model	30/09/2020	31/03/2021	27/04/2021	Dutch	PDF
Micro model	30/09/2019	27/03/2020	14/04/2020	Dutch	PDF
Micro modelCorrection	30/09/2018	29/03/2019	29/09/2019	Dutch	PDF
Micro model	30/09/2018	29/03/2019	29/04/2019	Dutch	PDF
Micro model	30/09/2017	30/03/2018	26/04/2018	Dutch	PDF
Abridged modelCorrection	30/09/2016	31/03/2017	24/04/2017	Dutch	PDF
Abridged model	30/09/2016	31/03/2017	14/04/2017	Dutch	PDF
Abridged model	30/09/2015	25/03/2016	31/03/2016	Dutch	PDF
Abridged model	30/09/2014	27/03/2015	27/04/2015	Dutch	PDF
Abridged model	30/09/2013	28/03/2014	28/04/2014	Dutch	PDF
Abridged model	30/09/2012	29/03/2013	29/04/2013	Dutch	PDF
Abridged model	30/09/2011	30/03/2012	30/04/2012	Dutch	PDF
Abridged model	30/09/2010	25/03/2011	04/04/2011	Dutch	PDF
Abridged model	30/09/2009	26/03/2010	07/04/2010	Dutch	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 30/09/2025 · 2 active · 5 ended

Active mandates

ANGELA BALCAEN

Director · since 01 janvier 2019

Active

PETER CASTRO

Director · since 07 mars 2008

Active

Ended mandates

Angela BALCAEN

Manager · since 01 janvier 2019

Ended

Angela Balcaen

Director · since 27 décembre 2018

Ended

Angela BALCAEN

Director

Ended

Peter CASTRO

Director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/03/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/02/2019
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares31/01/2011
KAPITAAL - AANDELEN
PDF
Registered office25/03/2010
MAATSCHAPPELIJKE ZETEL - DIVERSEN
PDF
Registered office24/03/2009
ADRESSEN ANDERS DAN MAATSCHAPPELIJKE ZETEL
PDF
Other20/03/2008
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 202512,8 k €↓
2024
Annual accounts 202437,7 k €↓
2023
Annual accounts 202338,5 k €↑
2022
Annual accounts 202223,9 k €↑
2021
Annual accounts 202112,6 k €↑
2020
Annual accounts 202010,2 k €↑
2019
Annual accounts 20199,5 k €↓
2018
Annual accounts 201847,7 k €↑
2017
Annual accounts 201716,2 k €↑
2016
Annual accounts 201615,3 k €↑
2015
Annual accounts 201512,2 k €↓
2014
Annual accounts 201417,1 k €↑
2013
Annual accounts 201314,9 k €↑
2012
Annual accounts 2012-2,3 k €↑
2011
Annual accounts 2011-3,9 k €↓
2010
Annual accounts 20107,1 k €↑
2009
Annual accounts 20091,1 k €
07/03/2008
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

PALIN

Overview

What does PALIN do?

Trend over 17 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