ACTIVE

UNIVERSTONE

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Financial year 2025 · closed on 31/12/2025

Net result

1,7 M €

+409.0% YoY

Gross margin

310,3 k €

+408.1% YoY

Equity

23,7 M €

+7.8% YoY

What does UNIVERSTONE do?

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

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0896.457.370

Incorporation

14/03/2008

Legal form

Private limited company

Registered office

Avenue des Chalets 20
1180 Uccle · BruxellesSee on map

Contributed capital

500 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

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

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	310,3 k €	+408%	-100,7 k €	-238%	73,1 k €	+133%	-219,9 k €	-382%	-45,6 k €	-136%	127,3 k €	+1317%	-10,5 k €	+80.1%	-52,7 k €	+56.4%	-120,8 k €	+36.3%	-189,8 k €	-23.8%	-153,3 k €	-67.4%	-91,5 k €	+25.5%	-122,8 k €	-9.4%	-112,2 k €	+30.3%	-161 k €	-141%	-66,7 k €	-680%	-8,6 k €	-14.9%	-7,4 k €
EBITDA	309,2 k €	+162%	-501,9 k €	-797%	72,1 k €	+133%	-220,8 k €	-374%	-46,6 k €	-137%	126,3 k €	+1201%	-11,5 k €	+78.6%	-53,6 k €	+56.0%	-121,7 k €	+36.3%	-191 k €	-22.7%	-155,7 k €	-65.7%	-94 k €	+25.0%	-125,3 k €	-9.2%	-114,7 k €	+29.7%	-163,2 k €	-122%	-73,6 k €	-719%	-9 k €	-15.4%	-7,8 k €
Operating result	304,9 k €	+160%	-507,8 k €	-880%	65,1 k €	+128%	-230,3 k €	-315%	-55,4 k €	-148%	116,2 k €	+619%	-22,4 k €	+62.6%	-59,9 k €	+52.1%	-125,1 k €	+36.2%	-196 k €	-20.6%	-162,5 k €	-42.2%	-114,2 k €	+19.8%	-142,5 k €	-8.9%	-130,8 k €	+27.4%	-180,2 k €	-98.8%	-90,6 k €	-786%	-10,2 k €	-31.3%	-7,8 k €
Net result	1,7 M €	+409%	337,8 k €	-71.1%	1,2 M €	-20.1%	1,5 M €	-80.9%	7,7 M €	+744%	907,8 k €	-52.3%	1,9 M €	-55.0%	4,2 M €	+671%	548,9 k €	-58.4%	1,3 M €	+60.9%	820 k €	+36.5%	600,9 k €	+262%	166 k €	-45.2%	302,6 k €	+113%	142,1 k €	+282%	-78,2 k €	-658%	-10,3 k €	-31.2%	-7,9 k €
Balance sheet
Equity	23,7 M €	+7.8%	22 M €	+1.6%	21,6 M €	+5.7%	20,5 M €	+7.7%	19 M €	+67.5%	11,3 M €	+8.7%	10,4 M €	+22.3%	8,5 M €	+98.3%	4,3 M €	-69.8%	14,3 M €	+10.2%	12,9 M €	+6.8%	12,1 M €	+42.3%	8,5 M €	+2.0%	8,3 M €	+64.8%	5,1 M €	+256%	1,4 M €	+78552%	1,8 k €	-85.1%	12,1 k €
Total assets	23,8 M €	+7.9%	22 M €	+1.2%	21,8 M €	-2.2%	22,3 M €	+10.7%	20,1 M €	-5.9%	21,4 M €	-12.4%	24,4 M €	+28.3%	19 M €	-10.2%	21,2 M €	+46.6%	14,5 M €	-36.9%	22,9 M €	-5.3%	24,2 M €	+33.6%	18,1 M €	+10.3%	16,4 M €	+7.5%	15,3 M €	+698%	1,9 M €	+1725%	104,8 k €	+13.6%	92,2 k €
Cash	568 k €	-2.2%	581 k €	-38.1%	938,1 k €	-3.6%	973,5 k €	+202%	322,1 k €	-8.9%	353,6 k €	-84.8%	2,3 M €	+1037%	204,8 k €	+154%	80,6 k €	-99.0%	8,1 M €	+182%	2,9 M €	+37.3%	2,1 M €	-25.5%	2,8 M €	+532%	445,7 k €	+557%	67,8 k €	-70.5%	230,2 k €	+1867%	11,7 k €	+424%	2,2 k €
Debts	75,5 k €	+19.1%	63,4 k €	-54.4%	138,9 k €	-92.3%	1,8 M €	+63.0%	1,1 M €	-89.0%	10 M €	-28.2%	14 M €	+33.2%	10,5 M €	-37.9%	16,9 M €	+8524%	195,7 k €	-98.0%	10 M €	-17.4%	12,1 M €	+25.8%	9,6 M €	+19.0%	8,1 M €	-21.0%	10,2 M €	+1987%	488,3 k €	+374%	103 k €	+28.6%	80,1 k €

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 · 4 ended

Active mandates

Arnaud Khodara

Director

Active

Paul Jules Albert Van Butsele

Director

Active

Ended mandates

Paul Jules Albert VAN BUTSELE

Director · since 04 avril 2019

Ended

Arnaud Khodara

Manager · since 14 mars 2008

Ended

Arnaud KHODARA

Director · since 14 mars 2008

Ended

ARNAUD KHODARA

Manager

Ended

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	22/05/2026	30/07/2025	30/07/2024	28/08/2023	30/08/2022	31/08/2021
General meeting	04/05/2026	03/05/2025	19/04/2024	26/04/2023	03/05/2022	03/05/2021
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	04/05/2026	22/05/2026	French	PDF
Abridged model	31/12/2024	03/05/2025	30/07/2025	French	PDF
Abridged model	31/12/2023	19/04/2024	30/07/2024	French	PDF
Abridged model	31/12/2022	26/04/2023	28/08/2023	French	PDF
Abridged model	31/12/2021	03/05/2022	30/08/2022	French	PDF
Abridged model	31/12/2020	03/05/2021	31/08/2021	French	PDF
Abridged model	31/12/2019	03/05/2020	31/08/2020	French	PDF
Abridged model	31/12/2018	03/05/2019	29/08/2019	French	PDF
Abridged model	31/12/2017	03/05/2018	30/08/2018	French	PDF
Abridged model	31/12/2016	03/05/2017	22/06/2017	French	PDF
Abridged model	31/12/2015	03/05/2016	31/08/2016	French	PDF
Abridged model	31/12/2014	03/05/2015	25/08/2015	French	PDF
Abridged model	31/12/2013	16/05/2014	19/06/2014	French	PDF
Abridged model	31/12/2012	03/05/2013	22/07/2013	French	PDF
Abridged model	31/12/2011	03/05/2012	20/08/2012	French	PDF
Abridged model	31/12/2010	02/05/2011	31/08/2011	French	PDF
Abridged model	31/12/2009	03/05/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	03/05/2009	31/08/2009	French	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 · 4 ended

Active mandates

Arnaud Khodara

Director

Active

Paul Jules Albert Van Butsele

Director

Active

Ended mandates

Paul Jules Albert VAN BUTSELE

Director · since 04 avril 2019

Ended

Arnaud Khodara

Manager · since 14 mars 2008

Ended

Arnaud KHODARA

Director · since 14 mars 2008

Ended

ARNAUD KHODARA

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other16/06/2021
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Mandates25/07/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates16/04/2019
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Capital / shares29/12/2017
CAPITAL, ACTIONS
PDF
Capital / shares14/11/2014
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Capital / shares27/01/2012
CAPITAL, ACTIONS
PDF
Capital / shares06/08/2010
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates29/04/2009
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
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 20251,7 M €↑
2024
Annual accounts 2024337,8 k €↓
2023
Annual accounts 20231,2 M €↓
2022
Annual accounts 20221,5 M €↓
2021
Annual accounts 20217,7 M €↑
2020
Annual accounts 2020907,8 k €↓
2019
Annual accounts 20191,9 M €↓
2018
Annual accounts 20184,2 M €↑
2017
Annual accounts 2017548,9 k €↓
2016
Annual accounts 20161,3 M €↑
2015
Annual accounts 2015820 k €↑
2014
Annual accounts 2014600,9 k €↑
2013
Annual accounts 2013166 k €↓
2012
Annual accounts 2012302,6 k €↑
2011
Annual accounts 2011142,1 k €↑
2010
Annual accounts 2010-78,2 k €↓
2009
Annual accounts 2009-10,3 k €↓
2008
Annual accounts 2008-7,9 k €
14/03/2008
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

UNIVERSTONE

Overview

What does UNIVERSTONE do?

Trend over 18 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