Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 30 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Institut Catholique des Hautes Etudes Commerciales from Sint-Pieters-Woluwe, company number BE0409842420, closed financial year 2025 with a result of € 168,135 after tax. For that financial year Institut Catholique des Hautes Etudes Commerciales recorded revenue of € 3.7 million and equity of € 3.6 million. Compared with financial year 2024, the result moved from € 325,870 to € 168,135. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on December 18, 2025.
€ 3.6 million
▲ 5% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 168,135
▼ 48% vs 2024
Profit after tax over the fiscal year.
€ 266,982
▲ 27% vs 2024
Cash and bank balances on the last day of the fiscal year.
People and assets in 2025
21.2
▼ 1.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.5 million
▲ 2% vs 2024
€ 70,700 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 71,725
▼ 17% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 3.2 million
▼ 7% vs 2024
€ 178,713 is repaid this year. At this pace the long-term loan is gone in ≈ 11 years.
€ 876,159
▼ 3% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 188,781
▼ 3% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 3,521,108 | € 3,608,599 | € 3,763,503 | € 3,721,015 | ▼ 1% |
| Gross margin | € 2,353,737 | € 2,407,207 | € 2,528,092 | € 2,358,342 | ▼ 7% |
| Profit after taxes | € 402,099 | € 233,485 | € 325,870 | € 168,135 | ▼ 48% |
| Equity | € 2,825,550 | € 3,059,036 | € 3,384,904 | € 3,553,039 | ▲ 5% |
| Total debts | € 6,377,205 | € 6,072,382 | € 5,850,684 | € 5,320,979 | ▼ 9% |
| Cash | € 174,197 | € 192,525 | € 210,799 | € 266,982 | ▲ 27% |
| Land & buildings | € 7,816,471 | € 7,691,157 | € 7,541,789 | € 7,174,919 | ▼ 5% |
| Retained profit | € 792,824 | € 1,026,309 | € 1,352,177 | € 1,520,312 | ▲ 12% |
| Bank debt | € 3,712,973 | € 3,696,223 | € 3,456,441 | € 3,202,713 | ▼ 7% |
| Balance sheet total | € 9,202,755 | € 9,131,418 | € 9,235,588 | € 8,874,018 | ▼ 4% |
| Employees (FTE) | 20.7 | 23 | 22.4 | 21.2 | ▼ 1.2 |
Key figures of Institut Catholique des Hautes Etudes Commerciales, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to Institut Catholique des Hautes Etudes Commerciales?
What happened at Institut Catholique des Hautes Etudes Commerciales in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- José FERNANDEZ stepped down as director. NBB
- Michel DEFOURNY stepped down as director. NBB
- Mathilde FOX stepped down as director. NBB
- Laetitia PARMENTIER stepped down as director. NBB
- Marie GARCIA stepped down as director. NBB
- Olivia SERVE stepped down as director. NBB
- Georges JANNES stepped down as director. NBB
- Hubert LATERRE stepped down as director. NBB
In short
From € 402,099 profit in 2022 to € 168,135 profit in 2025.
Best year ever: 2022, with € 402,099 profit.
On average € 111,200 of value added per employee in 2025.
A new publication or filing at Institut Catholique des Hautes Etudes Commerciales? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Directors
According to the 2025 annual accounts
Michel DEFOURNY
Director
since 2024 · until 2028
since 2024 · until 2025
Mathilde FOX
Director
since 2024 · until 2028
Laetitia PARMENTIER
Director
since 2024 · until 2028
Marie GARCIA
Director
since 2024 · until 2028
Olivia SERVE
Director
since 2024 · until 2028
Georges JANNES
Director
since 2024 · until 2028
since 2024 · until 2028
Hubert LATERRE
Director
since 2024 · until 2028
since 2024 · until 2024
Patrick VAN VINCKENROYE
Director
since 2024 · until 2028
Etienne DAVIGNON
Chairman of the board
Also active at: Haute Ecole ICHEC - ECAM - ISFSC, SPA GRAND PRIX
since 2024 · until 2028
David STAQUET
Director
since 2024 · until 2028
Establishments
Establishment units
Physical locations of this company
Brand Whitlocklaan 2
1150 Sint-Pieters-Woluwe
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0409.842.420
- VAT number
- BE 0409.842.420
- Registered office
- Brand Whitlocklaan 2, 1150 Sint-Pieters-Woluwe
- Names & denominations
- Institut Catholique des Hautes Etudes Commerciales
- Enterprise type
- Rechtspersoon
- Legal form
- Non-profit association
- Legal situation
- Normale toestand
- Start date
- 13 August 1955
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
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