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.
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Tight liquidity NBB
Cash and receivables cover 48 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Cristallo TopCo from Houthalen-Helchteren, company number BE0787628419, closed financial year 2025 with a result of € -3.4 million after tax. For that financial year Cristallo TopCo recorded revenue of € 7 million and equity of € 48 million. Compared with financial year 2024, the result moved from € -3.1 million to € -3.4 million. The company made a loss. 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 August 13, 2026.
€ 48 million
▲ 33% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -3.4 million
▼ 8 % more loss than in 2024
Profit after tax over the fiscal year.
€ 3.5 million
▼ 46% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -11.9 million.
Debts at end 2025
€ 32.9 million
▲ 2% vs 2024
€ 4.6 million is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 747,399
▲ 79% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 42 days on average.
€ 25,241
▲ € 25,068 vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|
| Revenue | € 4,468,340 | € 4,673,728 | € 7,003,191 | ▲ 50% |
| Profit after taxes | € -5,400,812 | € -3,129,996 | € -3,388,311 | ▼ € 258,314 |
| Equity | € 37,101,417 | € 36,117,111 | € 47,982,442 | ▲ 33% |
| Total debts | € 47,162,433 | € 50,502,451 | € 60,812,617 | ▲ 20% |
| Cash | € 5,639,639 | € 6,519,006 | € 3,538,550 | ▼ 46% |
| Retained profit | € -5,400,812 | € -8,530,809 | € -11,919,120 | ▼ € 3.4 million |
| Bank debt | € 34,437,500 | € 32,312,500 | € 32,937,500 | ▲ 2% |
| Balance sheet total | € 84,263,851 | € 86,619,562 | € 108,795,059 | ▲ 26% |
Key figures of Cristallo TopCo, fiscal years 2023 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 Cristallo TopCo?
What happened at Cristallo TopCo in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Stéphanie Massart stepped down as director. NBB
- Acse BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 3.4 million. filed late Source: NBB ↗
- RMco COMMV became a director. NBB
- Ruben Monballieu stepped down as director. NBB
- Dheedene Robin became a director. NBB
- Catharina Soenen stepped down as director. NBB
- Willco BV became a director. NBB
In short
From € 5.4 million loss in 2023 to € 3.4 million loss in 2025.
Pays suppliers within 42 days on average.
A new publication or filing at Cristallo TopCo? 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
The stake of Gimv, ASMA CONSULTING, Blue CaCao, INCON comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Cristallo TopCoBehind Cristallo TopCo are Dheedene Robin, Willco BV, Deermountain BV and RMco COMMV. The shares are held by Gimv (59.9%), ASMA CONSULTING (1%), Blue CaCao (0.2%) and INCON. It owns 100% of Climawest, 100% of Induzz3, 100% of Setec, 100% of Newten, 100% of Electro Zwijsen and 100% of ABN Klimatisatie itself.
Directors
According to the 2025 annual accounts
Dheedene Robin
Director
since 2025
Director · represented by Geens Wim
Also active at: ELECTRO - VERBEKE, L.V.R. ELECTRONICS, VAN VOOREN, ELECTRO ZWIJSEN, INDUZZ3, VAN SEVEREN, BOVEMA INTERNATIONAL, FOST PLUS +12 more
since 2025
Director · represented by Piet Van Waes
Also active at: Immo W & W, TillCap, Till-IT, STEENVAST
since 2023
since 2025
Managing director · represented by Fostier Geert
Also active at: ELECTRO - VERBEKE, L.V.R. ELECTRONICS, VAN VOOREN, ELECTRO ZWIJSEN, INDUZZ3, BOVEMA INTERNATIONAL, LENAERTS, SETEC +7 more
since 2022 · until 2025
Stéphanie Massart
Director
since 2022 · until 2028
since 2023 · until 2025
Director · represented by Dewulf Alexander
Also active at: AUTOMATION, BEKINA, CLUB, STANDAARD BOEKHANDEL, SBL, LIFEPOWR, Velleman Group
since 2022 · until 2028
Ruben Monballieu
Director
Also active at: ELECTRO - VERBEKE, L.V.R. ELECTRONICS, VAN VOOREN, ELECTRO ZWIJSEN, INDUZZ3, BOVEMA INTERNATIONAL, LENAERTS, SETEC +12 more
since 2022 · until 2025
Shareholders
Participations
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
Establishments
Establishment units
Physical locations of this company
Europark 1086
3530 Houthalen-Helchteren
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
WIX_COM, IL
DNS
Cloudflare DNS
Website info
Features
Security
Details
- Company number
- 0787.628.419
- VAT number
- BE 0787.628.419
- Registered office
- Europark 1086, 3530 Houthalen-Helchteren
- Names & denominations
- Cristallo TopCo
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 24 June 2022
- Peppol
- Active · Active since 22 Nov 2025
- Contact
- lenaertsnv.be +32 11 60 92 10
- Activities · NACE
Activiteiten van holdings
Holdings
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering