Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
BIO-SOURCING from Liège, company number BE0554840790, closed financial year 2025 with a result of € -1.2 million after tax. For that financial year BIO-SOURCING recorded a gross margin of € 1.6 million and equity of € 894,791. Compared with financial year 2024, the result moved from € -48,583 to € -1.2 million. The company made a loss. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 15, 2026.
€ 894,791
▲ 10% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.2 million
▼ 2310 % more loss than in 2024
Profit after tax over the fiscal year.
€ 2 million
▼ 52% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.2 million.
People and assets in 2025
17.3
▲ 3.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2.1 million
▲ 44% vs 2024
€ 121,000 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.
€ 49,503
▲ € 40,339 vs 2024
Of which on lease € 40,557.
Debts at end 2025
€ 2.1 million
▲ 3% vs 2024
€ 33,448 is repaid this year. At this pace the long-term loan is gone in ≈ 63 years.
€ 276,364
▼ 57% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 352,374
▲ 46% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,038,794 | € 1,852,341 | € 2,407,804 | € 1,584,971 | ▼ 34% |
| Profit after taxes | € -138,775 | € -219,261 | € -48,583 | € -1,170,766 | ▼ € 1.1 million |
| Equity | € 620,400 | € 401,139 | € 813,543 | € 894,791 | ▲ 10% |
| Total debts | € 3,338,614 | € 3,938,536 | € 5,018,473 | € 5,690,800 | ▲ 13% |
| Cash | € 2,025,253 | € 3,327,356 | € 4,199,953 | € 2,004,388 | ▼ 52% |
| Retained profit | € -137,775 | € 1,000 | € 1,000 | € -1,169,766 | ▼ € 1.2 million |
| Bank debt | € 6,418 | € 6,418 | € 2,039,841 | € 2,092,539 | ▲ 3% |
| Balance sheet total | € 3,959,013 | € 4,339,674 | € 5,832,015 | € 6,585,591 | ▲ 13% |
| Employees (FTE) | 9.7 | 11.4 | 13.5 | 17.3 | ▲ 3.8 |
Key figures of BIO-SOURCING, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to BIO-SOURCING?
What happened at BIO-SOURCING in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- NOSHAQ PARTNERS stepped down as director. NBB
- Michel GOLDMAN stepped down as director. NBB
- Quentin JANSSENS DE VAREBEKE stepped down as director. NBB
- Eric MAREE stepped down as director. NBB
- BMANAGEMENT stepped down as director. NBB
- Michel HELBIG DE BALZAC stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 1.2 million. Source: NBB ↗
- AXA REAL ESTATE INVESTMENT MANAGERS SA stepped down as director. NBB
In short
From € 138,775 loss in 2022 to € 1.2 million loss in 2025.
Paid € 397 in corporate taxes since 2022.
On average € 91,600 of value added per employee in 2025.
Management
The stake of NAUSICAA VENTURES, NOSHAQ, INVESTSUD TECH, AQ PARTNERS comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
BIO-SOURCINGThe shares are held by NAUSICAA VENTURES (14.8%), NOSHAQ (13.2%), INVESTSUD TECH (5.1%) and AQ PARTNERS (0.4%).
Directors
According to the 2025 annual accounts
Director · represented by Amel TOUNSI
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 2025 · until 2030
Philippe JANSSENS DE VAREBEKE
Director
since 2025 · until 2025
Michel GOLDMAN
Director
since 2025 · until 2030
Quentin JANSSENS DE VAREBEKE
Director
since 2025 · until 2030
Eric MAREE
Director
since 2025 · until 2030
AXA REAL ESTATE INVESTMENT MANAGERS SA
Director · represented by KAZANDJIAN Rafi
since 2025 · until 2026
Managing director · represented by Bertrand MEROT
since 2025 · until 2030
Director · represented by KAZANDJIAN Raffy
since 2021 · until 2025
Michel HELBIG DE BALZAC
Director
since 2025 · until 2030
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Boulevard du Rectorat 27 B box Bat. B22
4000 Liège
Boulevard du Rectorat 27B
4000 Liège
Active since 27 June 2014
Marloie, Rue du Point du Jour 10
6900 Marche-en-Famenne
Active since 1 September 2024
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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
- 0554.840.790
- VAT number
- BE 0554.840.790
- Registered office
- Boulevard du Rectorat 27 B bus Bat. B22, 4000 Liège
- Names & denominations
- BIO-SOURCING
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 27 June 2014
- Peppol
- Active · Active since 18 Dec 2025
- Activities · NACE
Speur- en ontwikkelingswerk op biotechnologisch gebied