ACTIVE

Cornerstone Research Belgium

Financial year 2025 · Closed on 31/12/2025

Net result216,5 k €+119,8 %over 1 year
Gross margin1,3 M €+264,5 %over 1 year
Equity-825,1 k €+20,8 %over 1 year
Workforce7,1 ETP+317,6 %over 1 year

Identity

Source · BCE/KBO

Cornerstone Research Belgium is a Private limited company incorporated in 2023. Its main activity is: Management consultancy activities. Its registered office is in Bruxelles. It employs on average 7,1 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 1000.197.979
Incorporation
22/09/2023
Legal form
Private limited company
Registered office
Avenue Louise 326
1050 Bruxelles · BruxellesSee on map
Contributed capital
50 000,00 €
Latest accounts
31/12/2025
Average workforce
7,1 ETP
Signals
ProfitablePositive cashflowPositive EBITDA

Financials

Source · NBB, 2 filings

Trend over 2 financial years

20252024
Income statement
Gross margin1,3 M €-791 k €
EBITDA284,1 k €-1,1 M €
Operating result223,2 k €-1,1 M €
Net result216,5 k €-1,1 M €
Balance sheet
Equity-825,1 k €-1 M €
Total assets2,6 M €3 M €
Cash155,5 k €606,5 k €
Debts3,4 M €4 M €
Other
Workforce7,1 ETP1,7 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

9 active · 8 ended

Active mandates

Alexander Aganin

Director · since 21 mai 2025

Active
Gregory Leonard

Managing director · since 25 septembre 2023

Active
Andrew Richmond

Director · since 20 septembre 2023

Active
Bryan Ricchetti

Director · since 20 septembre 2023

Active
David Marcus

Director · since 20 septembre 2023

Active
Kristin Feitzinger

Director · since 20 septembre 2023

Active
Michael Douglas Topper

Director · since 20 septembre 2023 · until 01 mai 2025

Active
Rahul Guha

Director · since 20 septembre 2023

Active
Yesim Richardson

Director · since 20 septembre 2023

Active

Ended mandates

Alexander Aganin

Director · since 01 mai 2025

Ended
Andrew Douglas Richmond

Director

Ended
Bryan Michael Ricchetti

Director

Ended
David Frederic Marcus

Director

Ended

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Full financial information

Source · NBB
20252024
Type of accountAbridged modelAbridged model
Start of the financial year01/01/202501/09/2023
Closing of the financial year31/12/202531/12/2024
Length of the financial year12 months16 months
Filing date22/05/202621/08/2025
General meeting20/04/202611/08/2025
Currency of the financial yearEUREUR
NBB quality labelSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 2 filings
ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202520/04/202622/05/2026FrenchPDF
Abridged model31/12/202411/08/202521/08/2025FrenchPDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

9 active · 8 ended

Active mandates

Alexander Aganin

Director · since 21 mai 2025

Active
Gregory Leonard

Managing director · since 25 septembre 2023

Active
Andrew Richmond

Director · since 20 septembre 2023

Active
Bryan Ricchetti

Director · since 20 septembre 2023

Active
David Marcus

Director · since 20 septembre 2023

Active
Kristin Feitzinger

Director · since 20 septembre 2023

Active
Michael Douglas Topper

Director · since 20 septembre 2023 · until 01 mai 2025

Active
Rahul Guha

Director · since 20 septembre 2023

Active
Yesim Richardson

Director · since 20 septembre 2023

Active

Ended mandates

Alexander Aganin

Director · since 01 mai 2025

Ended
Andrew Douglas Richmond

Director

Ended
Bryan Michael Ricchetti

Director

Ended
David Frederic Marcus

Director

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates07/07/2025
    SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates24/10/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Other26/09/2023
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025216,5 k €↑
  2. 2024
    Annual accounts 2024-1,1 M €
  3. 22/09/2023
    IncorporationPrivate limited company