ACTIVE

BHAG

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Financial year 2025 · closed on 30/09/2025

Net result

253,9 k €

+14.3% YoY

Gross margin

392,8 k €

+6.9% YoY

Equity

1,5 M €

+1.0% YoY

Workforce

0,0 ETP

What does BHAG do?

BHAG is a Private limited company incorporated in 2008. Its main activity is: Public relations and communication activities. Its registered office is in Oostkamp.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0899.946.994

Incorporation

25/08/2008

Legal form

Private limited company

Registered office

Beukendreef 3
8020 Oostkamp · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

30/09/2025

Average workforce

0,0 ETP

Activities (NACE)

70210Public relations and communication activities· main 73300Advertising and market research 64200Activities of holding companies 64210Activities of holding companies 82300Organisation of conventions and trade shows 82300Organisation of conventions and trade shows+4

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Gross margin	392,8 k €	+6.9%	367,4 k €	+51.1%	243,2 k €	-28.0%	337,6 k €	-39.4%	557,1 k €	+13.2%	492,1 k €	+7.1%	459,5 k €	+11.7%	411,3 k €	-49.5%	814,7 k €	+98.4%	410,6 k €	+4.9%	391,5 k €	+432%	73,5 k €	+12.0%	65,7 k €	+50.2%	43,7 k €	+92.3%	22,7 k €
EBITDA	381,2 k €	+5.1%	362,7 k €	+52.7%	237,5 k €	-27.5%	327,6 k €	-40.6%	551,2 k €	+12.7%	489 k €	+8.0%	452,9 k €	+11.0%	407,9 k €	-49.7%	811,3 k €	+99.0%	407,7 k €	+5.2%	387,6 k €	+446%	70,9 k €	+11.0%	63,9 k €	+54.5%	41,4 k €	+111%	19,6 k €
Operating result	302,2 k €	-3.5%	313 k €	+55.9%	200,9 k €	-31.7%	294,2 k €	-44.5%	530,1 k €	+13.3%	468 k €	+7.9%	433,8 k €	+11.3%	389,9 k €	-51.0%	795,5 k €	+98.5%	400,8 k €	+5.5%	379,9 k €	+481%	65,4 k €	+11.6%	58,6 k €	+62.5%	36 k €	+189%	12,5 k €
Net result	253,9 k €	+14.3%	222,2 k €	+59.7%	139,1 k €	-18.4%	170,5 k €	-54.4%	373,6 k €	+38.1%	270,4 k €	+8.3%	249,7 k €	+21.7%	205,2 k €	-58.1%	489,3 k €	+88.9%	259 k €	+20.3%	215,3 k €	+521%	34,7 k €	+12.3%	30,9 k €	+76.0%	17,5 k €	+447%	3,2 k €
Balance sheet
Equity	1,5 M €	+1.0%	1,5 M €	+18.0%	1,2 M €	-19.6%	1,5 M €	-9.7%	1,7 M €	+59.6%	1,1 M €	+10.6%	962,5 k €	+4.3%	922,8 k €	+28.6%	717,6 k €	+56.6%	458,3 k €	+48.9%	307,8 k €	+233%	92,5 k €	+59.9%	57,9 k €	+115%	27 k €	+186%	9,4 k €
Total assets	2,5 M €	+13.5%	2,2 M €	+0.8%	2,2 M €	+23.4%	1,8 M €	-11.1%	2 M €	+33.1%	1,5 M €	+3.4%	1,4 M €	-7.3%	1,6 M €	-13.5%	1,8 M €	+127%	797,1 k €	+64.9%	483,5 k €	+50.3%	321,8 k €	+8.5%	296,6 k €	+323%	70,1 k €	+0.3%	69,9 k €
Cash	179,5 k €	+26.9%	141,5 k €	-55.7%	319,2 k €	-65.0%	910,9 k €	-25.7%	1,2 M €	+147%	496,8 k €	-36.8%	786,2 k €	-21.7%	1 M €	-14.1%	1,2 M €	+127%	514,5 k €	+42.1%	362,1 k €	+841%	38,5 k €	-1.6%	39,1 k €	+72.0%	22,8 k €	+9.5%	20,8 k €
Debts	983,3 k €	+43.8%	683,6 k €	-22.2%	879,2 k €	+369%	187,5 k €	-23.3%	244,4 k €	-15.3%	288,5 k €	-35.6%	448,2 k €	+22.5%	365,9 k €	-42.0%	630,6 k €	+86.1%	338,8 k €	+92.8%	175,7 k €	-22.8%	227,6 k €	-4.0%	237,1 k €	+465%	41,9 k €	-28.2%	58,4 k €
Other
Workforce	0,0 ETP		–		0,0 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 30/09/2025 · 2 active · 4 ended

Active mandates

Evi Seymortier

Director

Active

Steven Van Belleghem

Director

Active

Ended mandates

Belleghem Steven Van

Manager

Ended

Evi Nelly Seymortier

Manager

Ended

Seymortier Evi

Manager

Ended

Steven Jenny Jozef Van Belleghem

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	01/10/2024	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	27/05/2026	30/04/2025	29/04/2024	29/04/2023	13/04/2022	30/04/2021
General meeting	30/04/2026	31/03/2025	29/03/2024	31/03/2023	18/03/2022	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

17 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	30/04/2026	27/05/2026	Dutch	PDF
Abridged model	30/09/2024	31/03/2025	30/04/2025	Dutch	PDF
Abridged model	30/09/2023	29/03/2024	29/04/2024	Dutch	PDF
Abridged model	30/09/2022	31/03/2023	29/04/2023	Dutch	PDF
Abridged model	30/09/2021	18/03/2022	13/04/2022	Dutch	PDF
Abridged model	30/09/2020	31/03/2021	30/04/2021	Dutch	PDF
Abridged model	30/09/2019	20/03/2020	16/04/2020	Dutch	PDF
Abridged model	30/09/2018	15/03/2019	15/04/2019	Dutch	PDF
Abridged model	30/09/2017	30/03/2018	27/04/2018	Dutch	PDF
Abridged model	30/09/2016	30/03/2017	28/04/2017	Dutch	PDF
Abridged model	30/09/2015	31/03/2016	02/05/2016	Dutch	PDF
Abridged model	30/09/2014	20/03/2015	24/03/2015	Dutch	PDF
Abridged model	30/09/2013	08/01/2014	07/02/2014	Dutch	PDF
Abridged model	30/09/2012	15/03/2013	11/04/2013	Dutch	PDF
Abridged model	30/09/2011	30/03/2012	27/04/2012	Dutch	PDF
Abridged model	30/09/2010	18/03/2011	15/04/2011	Dutch	PDF
Abridged model	30/09/2009	19/03/2010	28/04/2010	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 30/09/2025 · 2 active · 4 ended

Active mandates

Evi Seymortier

Director

Active

Steven Van Belleghem

Director

Active

Ended mandates

Belleghem Steven Van

Manager

Ended

Evi Nelly Seymortier

Manager

Ended

Seymortier Evi

Manager

Ended

Steven Jenny Jozef Van Belleghem

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office14/02/2025
MAATSCHAPPELIJKE ZETEL
PDF
Mandates23/06/2022
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares22/06/2018
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares22/01/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Other02/09/2008
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 2025253,9 k €↑
2024
Annual accounts 2024222,2 k €↑
2023
Annual accounts 2023139,1 k €↓
2022
Annual accounts 2022170,5 k €↓
2021
Annual accounts 2021373,6 k €↑
2018
Annual accounts 2018270,4 k €↑
2017
Annual accounts 2017249,7 k €↑
2016
Annual accounts 2016205,2 k €↓
2015
Annual accounts 2015489,3 k €↑
2014
Annual accounts 2014259 k €↑
2013
Annual accounts 2013215,3 k €↑
2012
Annual accounts 201234,7 k €↑
2011
Annual accounts 201130,9 k €↑
2010
Annual accounts 201017,5 k €↑
2009
Annual accounts 20093,2 k €
25/08/2008
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

BHAG

Overview

What does BHAG do?

Trend over 15 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