Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Busy address KBO
35 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
NOSHAQ SPIN-OFFS from Liège, company number BE0465001172, closed financial year 2025 with a result of € 6.6 million after tax. For that financial year NOSHAQ SPIN-OFFS recorded revenue of € 152,297 and equity of € 18.1 million. Compared with financial year 2024, the result moved from € 7.5 million to € 6.6 million. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on December 17, 2025.
€ 18.1 million
▲ 22% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 6.6 million
▼ 13% vs 2024
Profit after tax over the fiscal year.
€ 1.1 million
▼ 46% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 3.3 million paid out
50 % of the profit went to the shareholders, mostly to NOSHAQ (100 % of the shares). That is where the money ends up.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 458,878
▲ € 448,732 vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 346 days on average.
€ 83,525
▲ 111% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 112,778 | € 114,993 | € 122,819 | € 152,297 | ▲ 24% |
| Profit after taxes | € -1,141,023 | € 7,078,477 | € 7,494,837 | € 6,552,087 | ▼ 13% |
| Equity | € 4,047,297 | € 11,125,774 | € 14,873,193 | € 18,149,237 | ▲ 22% |
| Total debts | € 36,736,524 | € 40,324,334 | € 47,887,420 | € 50,587,044 | ▲ 6% |
| Cash | € 10,588,417 | € 7,500,946 | € 2,081,792 | € 1,116,320 | ▼ 46% |
| Retained profit | € 3,297,297 | € 10,375,774 | € 14,123,193 | € 17,399,237 | ▲ 23% |
| Dividend | € 0 | € 0 | € 3,747,419 | € 3,276,044 | ▼ 13% |
| Balance sheet total | € 41,218,821 | € 51,885,108 | € 63,195,613 | € 69,171,281 | ▲ 9% |
Key figures of NOSHAQ SPIN-OFFS, 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 NOSHAQ SPIN-OFFS?
What happened at NOSHAQ SPIN-OFFS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Jérôme HARDY stepped down as director. NBB
- Deborah Geradon stepped down as director. NBB
- Eric DEWINGAERDEN stepped down as director. NBB
- Joana WITHOFS stepped down as director. NBB
- Valérie SARETTO stepped down as director. NBB
- Henri LEMAITRE stepped down as director. NBB
- NETHYS SA stepped down as director. NBB
- Pascal CARLENS stepped down as director. NBB
In short
From € 1.1 million loss in 2022 to € 6.6 million profit in 2025.
Paid € 178,028 in corporate taxes since 2022.
Best year ever: 2024, with € 7.5 million profit.
Paid out € 7 million in dividends to the owners in total.
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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
The stake of NOSHAQ comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
NOSHAQ SPIN-OFFSThe shares are held by NOSHAQ (100%). It owns 37.1% of ARAPONICS, 34.6% of SAGITTA BIOTECH, 26.6% of PHYTESIA, 25% of VENTURE COACHING, 20.4% of WIDETECH and 18.5% of GEMBLOUX.BEER itself.
Directors
According to the 2025 annual accounts
Michel MOUTSCHEN
Director
since 2022 · until 2024
Director · represented by MARQ FABIAN
Also active at: CAUTION MUTUELLE DES METIERS ET NEGOCES, Fonderies J. Marichal Ketin et Cie, DARDENNE, SOGECOM, VITAVERDE.BIO, HAEMERS Technologies, SPACEBEL, NOSHAQ VENTURE +169 more
since 2021 · until 2024
Jérôme HARDY
Director
Also active at: NOSHAQ, NOSHAQ IMMO, NOSHAQ VENTURE, NOSHAQ EUROPE 3, NOSHAQ ENERGY, PISINOE, NOSHAQ EUROPE 4
since 2024 · until 2028
Deborah Geradon
Director
Also active at: PUBLILEC, CENTRE HOSPITALIER REGIONAL DE LA CITADELLE, Centre culturel communal de Seraing, NOSHAQ, NOSHAQ IMMO, NOSHAQ VENTURE, COOPERATIVE D'ETUDES, DE GESTION ET DE PARTICIPATION, SOCOFE +7 more
since 2025 · until 2028
Eric DEWINGAERDEN
Director
Also active at: NOSHAQ, NOSHAQ IMMO, NOSHAQ VENTURE, NOSHAQ EUROPE 3, NOSHAQ ENERGY, NOSHAQ EUROPE 4
since 2024 · until 2028
since 2024 · until 2028
Valérie SARETTO
Vice-chairman of the board
Also active at: Qu4tre Liège Média, NOSHAQ, NOSHAQ IMMO, COLLECTIONS ET PATRIMOINES, NOSHAQ VENTURE, Agence locale pour l'Emploi de Liège, NOSHAQ EUROPE 3, NOSHAQ ENERGY +4 more
since 2024 · until 2028
Chairman of the board · represented by NYSSEN ANNE-SOPHIE
Also active at: PRESSES UNIVERSITAIRES DE LIEGE, OPEN ENGINEERING, Curium PET Liège, Bridge2Health, EKLO
since 2021 · until 2024
Henri LEMAITRE
Director
Also active at: AKT For Wallonia, NOSHAQ, NOSHAQ IMMO, NOSHAQ VENTURE, LEM INTERIM, HL NEXT, NOSHAQ EUROPE 3, FORMALIA +3 more
since 2024 · until 2028
since 2024 · until 2025
Director · represented by DEMAL GRÉGORY
Also active at: NOSHAQ, NOSHAQ IMMO, NOSHAQ VENTURE, Luminus, NOSHAQ EUROPE 3, VOO S.A., NOSHAQ ENERGY, VOO Holding +1 more
since 2024 · until 2028
Director · represented by FELLIN BENOÎT
Also active at: FRANKI, Iso - Calor, DARDENNE, DAO, Bureau d'Etudes Pierre Berger, SOGECOM, NOSHAQ IMMO, GABRIEL +59 more
since 2021 · until 2024
Director · represented by BENOIT NATHALIE
Also active at: MICROBELCAPS, PRESSES UNIVERSITAIRES DE LIEGE, SCIENCE PARK SERVICES, PHYTESIA, AGROPTIMIZE, Green SURF, Cytomine, ProtonW.be +11 more
since 2021 · until 2024
Joyce WIECZOREK
Director
Also active at: NOSHAQ, NOSHAQ VENTURE, JWi², Wallonie Entreprendre, NOSHAQ ENERGY, NOSHAQ EUROPE 4
since 2024 · until 2025
Pascal CARLENS
Director
Also active at: NOSHAQ, NOSHAQ IMMO, NOSHAQ VENTURE, NOSHAQ EUROPE 3, AMERIGO, NOSHAQ ENERGY, NOSHAQ EUROPE 4
since 2024 · until 2028
Matthieu DE WINTER
Director
Also active at: NOSHAQ, NOSHAQ IMMO, NOSHAQ VENTURE, NOSHAQ EUROPE 3, NOSHAQ ENERGY
since 2024 · until 2025
Nicolas DUMAZY
Director
Also active at: SOCIETE LIEGEOISE DE MICRO - INFORMATIQUE, NOSHAQ, NOSHAQ IMMO, NOSHAQ VENTURE, IMA BENELUX, Computerland Benelux, NOSHAQ EUROPE 3, ETHIAS VENTURES +4 more
since 2024 · until 2028
Sylvie Rouche
Director
Also active at: NOSHAQ, NOSHAQ IMMO, NOSHAQ VENTURE, NOSHAQ EUROPE 3, NOSHAQ ENERGY, NOSHAQ EUROPE 4
since 2025 · until 2028
Christophe LECLERCQ
Director
Also active at: NOSHAQ, NOSHAQ IMMO, NOSHAQ VENTURE, LEANSQUARE, NOSHAQ EUROPE 3, NOSHAQ ENERGY, NOSHAQ EUROPE 4
since 2024 · until 2028
Jean-Christophe PETERKENNE
Director
Also active at: NOSHAQ, NOSHAQ IMMO, NOSHAQ VENTURE, NOSHAQ EUROPE 3, NOSHAQ ENERGY, NOSHAQ EUROPE 4
since 2024 · until 2028
Director · represented by BRANDT ERIC
Also active at: MEUSINVEST OSTBELGIENINVEST VENTURE EUROPE, MEUSINVEST OSTBELGIENINVEST VENTURE EUROPE 2
since 2021 · until 2024
Jean-Michel JAVAUX
Chairman of the board
Also active at: CENTRE HOSPITALIER REGIONAL DE HUY, NOSHAQ, NOSHAQ IMMO, NOSHAQ VENTURE, PUBLIGAS, Union des Villes et Communes de Wallonie, IMMOBILIERE DU STANDARD DE LIEGE, NOSHAQ EUROPE 3 +5 more
since 2024 · until 2028
Christine DEFRAIGNE
Director
Also active at: NOSHAQ, NOSHAQ IMMO, NOSHAQ VENTURE, NOSHAQ EUROPE 3, NOSHAQ ENERGY, NOSHAQ EUROPE 4
since 2024 · until 2028
Shareholders
100%
Participations
37.1%
34.6%
26.6%
25%
20.4%
18.5%
18.4%
18%
17.8%
17.4%
16.4%
15.1%
14.3%
13.9%
12.9%
10.9%
10.8%
10.1%
10%
Establishments
Establishment units
Physical locations of this company
Rue Lambert-Lombard 3
4000 Liège
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 35 companies are registered at this address.
All companies at this address →CAUTION MUTUELLE DES METIERS ET NEGOCES same network
SOGECOM same network
€ -151,456 gross margin · 2025
NOSHAQ same network
€ 9 million revenue · 2025
NOSHAQ IMMO same network
€ 2.6 million revenue · 2025
NOSHAQ VENTURE same network
€ 89,352 revenue · 2025
+30 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0465.001.172
- VAT number
- BE 0465.001.172
- Registered office
- Rue Lambert-Lombard 3, 4000 Liège
- Names & denominations
- NOSHAQ SPIN-OFFS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 December 1998
- Peppol
- Active · Active since 10 Oct 2025
- Activities · NACE
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overige adviesbureaus op het gebied van bedrijfsvoering en beheer
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering
Activiteiten van holdings
Activiteiten van (gecertificeerde) (fiscaal) accountants
Belastingconsulenten
Financiële holdings
Holdings