NORMAL SITUATION

Fluvius West

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Financial year 2024 · closed on 31/12/2024

Net result

58,4 M €

+706.6% YoY

Revenue

100,8 M €

-1.5% YoY

Equity

585,3 M €

+1.1% YoY

Company — Normal situation.

What does Fluvius West do?

Fluvius West is a company registered in Belgium.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0205.157.176

Legal form

Project leader organization, Flemish Region

Contributed capital

251 571 140,86 €

Latest accounts

31/12/2024

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Revenue	100,8 M €	-1.5%	102,4 M €	-7.1%	110,3 M €	-13.7%	127,8 M €	+3.9%	123 M €	+2.1%	120,5 M €	+0.4%	120 M €	-2.1%	122,6 M €	+2.2%	119,9 M €	-2.6%	123,1 M €	+2.9%	119,6 M €	+3.2%	115,9 M €	+2.6%	113 M €	+7.4%	105,2 M €	+8.5%	97 M €	+9.4%	88,6 M €	-11.7%	100,4 M €
EBITDA	41,3 M €	+72.4%	23,9 M €	-43.4%	42,3 M €	+2.5%	41,3 M €	-4.0%	43 M €	+11.1%	38,7 M €	+29.4%	29,9 M €	-26.6%	40,8 M €	+6.7%	38,2 M €	+5.4%	36,3 M €	-3.8%	37,7 M €	+7.8%	35 M €	+22.8%	28,5 M €	-7.2%	30,7 M €	-16.5%	36,8 M €	+10.0%	33,4 M €	+7.8%	31 M €
Operating result	12,3 M €	+430%	-3,7 M €	-123%	15,9 M €	-13.6%	18,4 M €	-3.5%	19,1 M €	+6.4%	17,9 M €	+84.2%	9,7 M €	-56.8%	22,5 M €	+11.7%	20,2 M €	+7.5%	18,8 M €	-4.8%	19,7 M €	+6.1%	18,6 M €	+28.4%	14,5 M €	+7.5%	13,5 M €	-33.8%	20,3 M €	+27.5%	16 M €	-8.8%	17,5 M €
Net result	58,4 M €	+707%	7,2 M €	-53.3%	15,5 M €	-11.1%	17,4 M €	-0.3%	17,5 M €	+9.8%	15,9 M €	+83.0%	8,7 M €	-44.5%	15,7 M €	+6.0%	14,8 M €	+14.9%	12,9 M €	-71.8%	45,7 M €	+144%	18,8 M €	+22.0%	15,4 M €	-7.3%	16,6 M €	-4.2%	17,3 M €	+17.3%	14,8 M €	-67.2%	45 M €
Balance sheet
Equity	585,3 M €	+1.1%	578,9 M €	+0.4%	576,9 M €	+1.0%	571 M €	+0.9%	565,9 M €	+3.4%	547,2 M €	+1.9%	536,8 M €	+0.3%	535,1 M €	+3.1%	519,1 M €	+2.0%	508,7 M €	+0.3%	507,1 M €	+4.2%	486,5 M €	+3.4%	470,3 M €	+2.2%	460,1 M €	+9.6%	419,7 M €	+9.7%	382,6 M €	-7.4%	413,2 M €
Total assets	997,9 M €	+5.1%	949,5 M €	+7.7%	881,7 M €	+1.7%	866,8 M €	+3.1%	840,5 M €	+5.9%	793,8 M €	+1.0%	786,2 M €	+1.1%	777,7 M €	+0.5%	773,6 M €	-0.3%	776,2 M €	+2.1%	760,1 M €	+5.4%	720,9 M €	+5.5%	683,1 M €	+8.3%	630,6 M €	+9.3%	577 M €	-8.0%	627,5 M €	-2.8%	645,9 M €
Cash	539 €	-55.0%	1,2 k €	-91.1%	13,5 k €	-4.8%	14,2 k €	+16.7%	12,1 k €	-4.9%	12,8 k €	-96.7%	381 k €	-98.3%	22,2 M €	+113%	10,4 M €	+15516%	66,9 k €	-94.4%	1,2 M €	-1.1%	1,2 M €	+3.8%	1,2 M €	+20.7%	965 k €	+82.9%	527,6 k €	-6.9%	566,7 k €	-12.9%	650,8 k €
Debts	380,4 M €	+10.9%	343,2 M €	+23.3%	278,4 M €	+6.7%	261 M €	+12.1%	232,9 M €	+21.9%	190,9 M €	+4.3%	183,1 M €	-7.5%	198 M €	-4.9%	208,1 M €	-6.9%	223,5 M €	+0.9%	221,5 M €	+33.9%	165,4 M €	+13.4%	145,8 M €	+29.0%	113 M €	+4.6%	108,1 M €	-47.4%	205,6 M €	+4.6%	196,5 M €
Other
Workforce	–		–		–		–		–		74,7 ETP	-75.6%	306,4 ETP	-3.3%	316,9 ETP	-2.7%	325,8 ETP	-2.1%	332,8 ETP	-3.4%	344,5 ETP	-4.0%	358,8 ETP	-4.1%	374,3 ETP	+4.1%	359,6 ETP	+0.2%	358,8 ETP	+1.4%	353,8 ETP	-0.3%	355,0 ETP

Governance

Board of directors

Seen on filing of 31/12/2024 · 16 active · 221 ended

Active mandates

Ariëlla Vandenberghe

Director · since 16 octobre 2023

Active

Anna Verduyn

Director · since 12 décembre 2022

Active

Jan Pollet

Director · since 14 mars 2022

Active

Caroline Maertens

Director · since 26 mars 2019

Active

Floris Van Den Broeck

Director · since 26 mars 2019

Active

Francis Pattyn

Director · since 26 mars 2019

Active

Geert Dessein

Director · since 26 mars 2019

Active

Geert Moerkerke

Director · since 26 mars 2019

Active

Irina De Knop

Ondervoorzitster van de raad van bestuur · since 26 mars 2019 · until 10 juillet 2024

Active

Jan Viaene

Director · since 26 mars 2019

Active

Johan TANGHE

Lid met raadgevende stem · since 26 mars 2019

Active

Lies Laridon

Chairman of the board of directors · since 26 mars 2019

Active

Lynn Vermote

Director · since 26 mars 2019

Active

Patrick Lansens

Director · since 26 mars 2019

Active

Rik Vanwildemeersch

Director · since 26 mars 2019

Active

Stijn Tant

Director · since 26 mars 2019

Active

Ended mandates

Lies Goemaere

Director · since 08 mars 2021 · until 11 octobre 2023

Ended

Lies GOEMAERE

Director · since 08 mars 2021

Ended

Elke Casier

Director · since 26 mars 2019 · until 07 novembre 2022

Ended

Elke CASIER

Director · since 26 mars 2019

Ended

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	01/07/2025	28/06/2024	28/06/2023	27/06/2022	13/07/2021	15/07/2020
General meeting	26/06/2025	19/06/2024	26/06/2023	20/06/2022	21/06/2021	19/06/2020
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

50 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2024	26/06/2025	01/07/2025	Dutch	PDF
Full model	31/12/2023	19/06/2024	28/06/2024	Dutch	PDF
Full model	31/12/2022	26/06/2023	28/06/2023	Dutch	PDF
Full model	31/12/2021	20/06/2022	27/06/2022	Dutch	PDF
Full model	31/12/2020	21/06/2021	13/07/2021	Dutch	PDF
Full model	31/12/2019	19/06/2020	15/07/2020	Dutch	PDF
Full model	31/12/2018	24/06/2019	18/07/2019	Dutch	PDF
Full model	31/12/2017	26/06/2018	04/07/2018	Dutch	PDF
Full model	31/12/2016	06/06/2017	13/06/2017	Dutch	PDF
Full model	31/12/2015	07/06/2016	28/06/2016	Dutch	PDF
Full model	31/12/2014	02/06/2015	23/06/2015	Dutch	PDF
Full model	31/12/2013	03/06/2014	23/06/2014	Dutch	PDF
Full modelCorrection	31/12/2012	04/06/2013	09/08/2013	Dutch	PDF
Full model	31/12/2012	04/06/2013	02/07/2013	Dutch	PDF
Full model	31/12/2011	05/06/2012	27/06/2012	Dutch	PDF
Full model	31/12/2010	07/06/2011	28/06/2011	Dutch	PDF
Full model	31/12/2009	01/06/2010	28/06/2010	Dutch	PDF
Full model	31/12/2008	02/06/2009	08/07/2009	Dutch	PDF
Full model	31/12/2007	03/06/2008	03/07/2008	Dutch	PDF
Full model	31/12/2006	05/06/2007	21/06/2007	Dutch	PDF
Full model	31/12/2005	06/06/2006	05/07/2006	Dutch	PDF
Full model	31/12/2004	07/06/2005	23/06/2005	Dutch	PDF
Full model	31/12/2003	01/06/2004	10/06/2004	Dutch	PDF
Full model	31/12/2002	03/06/2003	20/06/2003	Dutch	PDF

View all 50 filings

Estimate

Indicative valuation

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2024 · 16 active · 221 ended

Active mandates

Ariëlla Vandenberghe

Director · since 16 octobre 2023

Active

Anna Verduyn

Director · since 12 décembre 2022

Active

Jan Pollet

Director · since 14 mars 2022

Active

Caroline Maertens

Director · since 26 mars 2019

Active

Floris Van Den Broeck

Director · since 26 mars 2019

Active

Francis Pattyn

Director · since 26 mars 2019

Active

Geert Dessein

Director · since 26 mars 2019

Active

Geert Moerkerke

Director · since 26 mars 2019

Active

Irina De Knop

Ondervoorzitster van de raad van bestuur · since 26 mars 2019 · until 10 juillet 2024

Active

Jan Viaene

Director · since 26 mars 2019

Active

Johan TANGHE

Lid met raadgevende stem · since 26 mars 2019

Active

Lies Laridon

Chairman of the board of directors · since 26 mars 2019

Active

Lynn Vermote

Director · since 26 mars 2019

Active

Patrick Lansens

Director · since 26 mars 2019

Active

Rik Vanwildemeersch

Director · since 26 mars 2019

Active

Stijn Tant

Director · since 26 mars 2019

Active

Ended mandates

Lies Goemaere

Director · since 08 mars 2021 · until 11 octobre 2023

Ended

Lies GOEMAERE

Director · since 08 mars 2021

Ended

Elke Casier

Director · since 26 mars 2019 · until 07 novembre 2022

Ended

Elke CASIER

Director · since 26 mars 2019

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring07/08/2025
Vaststelling definitieve ruilverhoudingen partiële splitsingen en fusie.
PDF
Mandates24/12/2024
Statutaire benoemingen en ontslagnemingen
PDF
Mandates07/02/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/08/2023
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares09/05/2023
KAPITAAL - AANDELEN
PDF
Dissolution08/02/2023
RUBRIEK EINDE (STOPZETTING, INTREKKING STOPZETTING, NIETIGHEID, GER. AK., GERECHTELIJKE REORGANISATIE, ENZ... - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring16/11/2022
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring16/11/2022
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2024
Annual accounts 202458,4 M €↑
2023
Annual accounts 20237,2 M €↓
2022
Annual accounts 202215,5 M €↓
2021
Annual accounts 202117,4 M €↓
2020
Annual accounts 202017,5 M €↑
2019
Annual accounts 201915,9 M €↑
2018
Annual accounts 20188,7 M €↓
2017
Annual accounts 201715,7 M €↑
2016
Annual accounts 201614,8 M €↑
2015
Annual accounts 201512,9 M €↓
2014
Annual accounts 201445,7 M €↑
2013
Annual accounts 201318,8 M €↑
2012
Annual accounts 201215,4 M €↓
2011
Annual accounts 201116,6 M €↓
2010
Annual accounts 201017,3 M €↑
2009
Annual accounts 200914,8 M €↓
2008
Annual accounts 200845 M €

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Fluvius West

Overview

What does Fluvius West do?

Trend over 17 financial years

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline