Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 21 to 16.
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Busy address KBO
29 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
REFERENCES from Brussel, company number BE0839044852, closed financial year 2025 with a result of € -50,745 after tax. For that financial year REFERENCES recorded a gross margin of € 1.1 million and equity of € 168,193. Compared with financial year 2024, the result moved from € 24,591 to € -50,745. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 3, 2026.
€ 168,193
▼ 23% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -50,745
▼ still € 24,591 profit in 2024
Profit after tax over the fiscal year.
€ 16,366
▼ 15% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 68,193.
People and assets in 2025
16
▼ 3.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.1 million
▼ 20% vs 2024
€ 70,800 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.
€ 4,098
▼ 4% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 227,210
▼ 52% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 156,677
▼ 12% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 4,994,586 | € 4,780,875 | - | - | |
| Gross margin | € 1,610,730 | € 1,745,596 | € 1,505,392 | € 1,137,562 | ▼ 24% |
| Profit after taxes | € 16,261 | € 32,074 | € 24,591 | € -50,745 | ▼ € 75,336 |
| Equity | € 162,274 | € 194,348 | € 218,938 | € 168,193 | ▼ 23% |
| Total debts | € 1,230,831 | € 1,428,228 | € 825,658 | € 749,037 | ▼ 9% |
| Cash | - | - | € 19,169 | € 16,366 | ▼ 15% |
| Retained profit | € 62,274 | € 94,348 | € 118,938 | € 68,193 | ▼ 43% |
| Balance sheet total | € 1,393,105 | € 1,622,576 | € 1,044,597 | € 917,231 | ▼ 12% |
| Employees (FTE) | 21.4 | 21 | 19.9 | 16 | ▼ 3.9 |
Key figures of REFERENCES, 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 REFERENCES?
What happened at REFERENCES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 50,745 (▼ € 75,336 vs 2024). Source: NBB ↗
- Pierre LEERSCHOOL stepped down as director. NBB
- Bernard MARCHANT stepped down as director. NBB
- Thierry HUGOT stepped down as director. NBB
- Pierre LEERSCHOOL became a director. NBB
- Bernard MARCHANT became a director. NBB
- Thierry HUGOT became a director. NBB
- New establishment in Namur. KBO
In short
From € 16,261 profit in 2022 to € 50,745 loss in 2025.
Paid € 96,976 in corporate taxes since 2022.
Best year ever: 2023, with € 32,074 profit.
On average € 71,100 of value added per employee in 2025.
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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 GROUPE VLAN, GROUPE SUDMEDIA comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
REFERENCESThe shares are held by GROUPE VLAN (50%) and GROUPE SUDMEDIA (50%).
Directors
According to the 2025 annual accounts
Pierre LEERSCHOOL
Managing director
Also active at: GROUPE VLAN, OSTBELGISCHER MEDIENVERLAG, EDITIONS CINE - REVUE, GROUPE SUDMEDIA, LA PRESSE.be-ALLIANCE DES MEDIAS D'INFORMATION, R.M.S. REGIE, 2W EVENTS, SOLUTION MEDIAS +2 more
since 2023 · until 2026
Bernard MARCHANT
Director
Also active at: Grenz-Echo, Belga News Agency, Les Editions rurales - De Landelijke Uitgeverijen, GROUPE VLAN, ROSSEL INTERACTIVE MEDIA, ROSSEL & Cie, Rossel-Hurbain, OSTBELGISCHER MEDIENVERLAG +34 more
since 2023 · until 2026
Thierry HUGOT
Director
Also active at: Les Editions rurales - De Landelijke Uitgeverijen, AUDIOPRESSE, Rendez - Vous Group, FUN RADIO BELGIQUE, MASS TRANSIT MEDIA, Look Live Media, eFluenz, PICONANO +1 more
since 2023 · until 2026
Shareholders
50%
50%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Koningsstraat 100
1000 Brussel
Rue de Coquelet 134
5000 Namur
Active since 14 September 2013
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 29 companies are registered at this address.
All companies at this address →Les Editions rurales - De Landelijke Uitgeverijen same network
€ 5.2 million revenue · 2025
GROUPE VLAN same network
€ 10.1 million revenue · 2025
ROSSEL & Cie same network
€ 108.8 million revenue · 2025
Rossel-Hurbain same network
€ 148,519 gross margin · 2025
Auxiliaire Rossel
€ 130,001 gross margin · 2025
+24 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
- 0839.044.852
- VAT number
- BE 0839.044.852
- Registered office
- Koningsstraat 100, 1000 Brussel
- Names & denominations
- REFERENCES
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 6 September 2011
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Mediarepresentatie