Financials
Financial year 2025
WHITE RESEARCH from Sint-Gillis (bij-Brussel), company number BE0845692421, closed financial year 2025 with a result of € 459,102 after tax. For that financial year WHITE RESEARCH recorded a gross margin of € 1.7 million and equity of € 467,162. Compared with financial year 2024, the result moved from € 453,266 to € 459,102. Profitable, and profit is growing. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 27, 2026.
€ 467,162
▼ 8% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 459,102
▲ 1% vs 2024
Profit after tax over the fiscal year.
€ 4.2 million
▼ 4% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 501,452 paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
12.5
▲ 3.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.1 million
▲ 38% vs 2024
€ 84,600 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.
€ 23,004
▲ 39% 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.
€ 21,282
▼ 62% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 115,468
▲ 38% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 564,241 | € 736,934 | € 1,372,028 | € 1,663,020 | ▲ 21% |
| Profit after taxes | € 99,053 | € 48,119 | € 453,266 | € 459,102 | ▲ 1% |
| Equity | € 222,027 | € 171,096 | € 509,512 | € 467,162 | ▼ 8% |
| Total debts | € 2,321,590 | € 2,347,967 | € 5,290,404 | € 4,476,295 | ▼ 15% |
| Cash | € 2,243,336 | € 1,119,492 | € 4,372,888 | € 4,202,454 | ▼ 4% |
| Retained profit | € 215,827 | € 164,896 | € 503,312 | € 460,962 | ▼ 8% |
| Dividend | € 85,300 | € 99,050 | € 114,850 | € 501,452 | ▲ € 386,602 |
| Bank debt | € 0 | € 0 | € 995,418 | € 0 | ▼ 100% |
| Balance sheet total | € 2,543,617 | € 2,519,063 | € 5,799,916 | € 4,943,457 | ▼ 15% |
| Employees (FTE) | 7.9 | 8.5 | 9 | 12.5 | ▲ 3.5 |
Key figures of WHITE RESEARCH, 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 WHITE RESEARCH?
What happened at WHITE RESEARCH in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 459,102 (▲ 1% vs 2024). Source: NBB ↗
- New establishment in Sint-Gillis (bij-Brussel). KBO
- New establishment in Sint-Gillis (bij-Brussel). KBO
- Start of the company according to the CBE. KBO
In short
From € 99,053 profit in 2022 to € 459,102 profit in 2025.
Paid € 424,924 in corporate taxes since 2022.
Best year ever: 2025, with € 459,102 profit.
On average € 133,000 of value added per employee in 2025.
A new publication or filing at WHITE RESEARCH? 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
Behind WHITE RESEARCH are Konstantinos Bougiouklis and Efthymios Altsitsiadis.
Directors
According to the 2025 annual accounts
Konstantinos Bougiouklis
Director
Efthymios Altsitsiadis
Director
Establishments
Establishment units
Physical locations of this company
Gulden-Vlieslaan 67
1060 Sint-Gillis (bij-Brussel)
Spanjestraat 71 box A
1060 Sint-Gillis (bij-Brussel)
Active since 3 May 2012
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Details
- Company number
- 0845.692.421
- VAT number
- BE 0845.692.421
- Registered office
- Gulden-Vlieslaan 67, 1060 Sint-Gillis (bij-Brussel)
- Names & denominations
- WHITE RESEARCH
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 3 May 2012
- Peppol
- Active · Active since 11 Sept 2025
- Contact
- white-research.eu
- Activities · NACE
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