ACTIVE

Patrimoine de l'Ecole royale militaire

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Financial year 2025 · Closed on 31/12/2025

Net result-924,7 k €+32,6 %over 1 year
Revenue1,2 M €-63,9 %over 1 year
Equity9,9 M €-8,5 %over 1 year
Workforce188,4 ETP+31,7 %over 1 year

Identity

Source · BCE/KBO

Patrimoine de l'Ecole royale militaire is a Public establishment incorporated in 2004. Its main activity is: Research and experimental development on natural sciences and engineering. Its registered office is in Bruxelles. It employs on average 188,4 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0209.460.513
Incorporation
01/01/2004
Legal form
Public establishment
Registered office
Avenue de la Renaissance 30
1000 Bruxelles · BruxellesSee on map
Latest accounts
31/12/2025
Average workforce
188,4 ETP
Joint committees (1)
  • 999
Signals
Good liquidityHigh revenue

Financials

Source · NBB, 15 filings

Trend over 13 financial years

20252024202320222021
Income statement
Revenue1,2 M €3,4 M €3,6 M €2,7 M €2 M €
EBITDA-542,2 k €-835,8 k €-284,4 k €-500,4 k €760,9 k €
Operating result-1,1 M €-1,5 M €-802 k €-972,2 k €377,1 k €
Net result-924,7 k €-1,4 M €-349,9 k €-1,6 M €304,6 k €
Balance sheet
Equity9,9 M €10,8 M €12,2 M €12,5 M €14,2 M €
Total assets50,1 M €41,9 M €39,9 M €36,4 M €41,4 M €
Cash12,1 M €12,3 M €9,9 M €14 M €17,5 M €
Debts40 M €31 M €26 M €22,9 M €27,1 M €
Other
Workforce188,4 ETP143,1 ETP128,5 ETP110,0 ETP89,8 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

18 active · 76 ended

Active mandates

An BOOGAERTS

Mandate

Active
An-Roos DE POTTER

Mandate

Active
Ben LAUWENS

Mandate

Active
Benoït MARINUS

Mandate

Active
Fabrice LIBERT

Mandate

Active
Frank BLOMME

Mandate

Active
Johan GALLANT

Mandate

Active
John GENOUW

Mandate

Active
Jozef DESMEDT

Mandate

Active
Kurt VAN GYSEGHEM

Mandate

Active
Olivier DE WEERDT

Mandate

Active
Pierre MOINET

Mandate

Active
Romuald VAN RIET

Mandate

Active
Salvatore LO BUE

Mandate

Active
Sophie ACHEROY

Mandate

Active
Sven DE MEY

Mandate

Active
Thierry PIRENNE

Mandate

Active
Vincent DOUNIAUX

Mandate

Active

Ended mandates

Fabrice LIBERT

Director · since 21 septembre 2021 · until 31 décembre 2021

Ended
Bart SCHEERS

Managing director · since 02 juillet 2021 · until 31 décembre 2021

Ended
Bart D'Hooge

Director · since 31 mars 2021

Ended
Alain Muls

Director · since 01 janvier 2021 · until 06 décembre 2021

Ended

Other companies at this address

Avenue de la Renaissance 30 1000 Bruxelles
CompanyCBE no.
ASSOCIATIE VOOR MILITAIRE INDUSTRIELE EN TECHNISCHE INGENIEURS - ASSOCIATION DES MILITAIRES INGENIEURS TECHNICIENS ET INDUSTRIELS● Active
0420.653.564
Association des Anciens de l'Ecole Royale Militaire● Active
0408.957.641
Association des Licenciés de l'Ecole d'Application(A.L.A.)-Alumnivereniging van de Licentiaten van de Applicatieschool(A.L.A.)● Active
0412.379.167
Association royale des Ingénieurs civils issus de la Faculté polytechnique de l'Ecole royale militaire● Active
0408.970.608
Brussels Information and Image Processing● Liquidation
0450.112.068
CENTRE D'ESSAIS ET CONTROLE DE CARNELLE● Active
0448.706.558
CENTRE D'ETUDE DE DROIT MILITAIRE ET DE DROIT DE LA GUERRE - STUDIECENTRUM VOOR MILITAIR RECHT EN OORLOGSRECHT● Active
0410.653.953
Club de Natation des Familles du Personnel de l'Ecole Royale Militaire● Active
0409.239.931
Confédération des Associations d'Officiers Belges● Active
0408.184.512
Euro-Atlantische Vereniging van België - Association Euro-Atlantique de Belgique● Active
0408.936.261
EURODEFENSE-BELGIUM● Active
0808.350.092
Fonds d'Entraide Georges Beernaerts - Onderling Steunfonds Georges Beernaerts● Active
0422.703.333
INTERNATIONAL MILITARY TESTING ASSOCIATION● Active
0541.348.189
Judo club de l'Ecole Royale Militaire - Judo Club van de Militaire School● Active
0409.961.887
Koninklijke Vereniging der Oprustgestelde Officieren● Active
0410.604.463
koninklijke vereniging der oud troepskinderen, pupillen, cadetten en intermachters van het Leger./ Société royale des anciens enfants de troupe, pupilles, cadet● Active
0410.605.156
Organisation Internationale A But Scientifique pour la Science et la Technique du Vide● Active
0410.448.966
OR PUBLICATIONS● Active
0475.732.837
Societe Belge de Physique - Belgische Natuurkundige Vereniging● Active
0410.506.572
Société Belge de Recherche Opérationnelle● Active
0406.630.532

Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date27/03/202616/04/202525/03/202412/04/202331/03/202217/06/2021
General meeting26/02/202624/02/202515/02/202416/02/202316/02/202231/03/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 15 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202526/02/202627/03/2026FrenchPDF
Full model31/12/202424/02/202516/04/2025FrenchPDF
Full model31/12/202315/02/202425/03/2024FrenchPDF
Full model31/12/202216/02/202312/04/2023FrenchPDF
Full model31/12/202116/02/202231/03/2022DutchPDF
Full model31/12/202031/03/202117/06/2021DutchPDF
Full model31/12/201913/03/202015/06/2020DutchPDF
Full model31/12/201807/03/201906/05/2019DutchPDF
Full modelCorrection31/12/201719/04/201811/02/2019DutchPDF
Full model31/12/201719/04/201824/05/2018DutchPDF
Full model31/12/201618/05/201722/06/2017DutchPDF
Full model31/12/201519/05/201616/09/2016DutchPDF
Full modelCorrection31/12/201427/05/201530/10/2015DutchPDF
Full model31/12/201427/05/201518/08/2015DutchPDF
Full model31/12/201323/09/201427/10/2014DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 M€

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.

Board of directors

Source · NBB, accounts to 31/12/2025

18 active · 76 ended

Active mandates

An BOOGAERTS

Mandate

Active
An-Roos DE POTTER

Mandate

Active
Ben LAUWENS

Mandate

Active
Benoït MARINUS

Mandate

Active
Fabrice LIBERT

Mandate

Active
Frank BLOMME

Mandate

Active
Johan GALLANT

Mandate

Active
John GENOUW

Mandate

Active
Jozef DESMEDT

Mandate

Active
Kurt VAN GYSEGHEM

Mandate

Active
Olivier DE WEERDT

Mandate

Active
Pierre MOINET

Mandate

Active
Romuald VAN RIET

Mandate

Active
Salvatore LO BUE

Mandate

Active
Sophie ACHEROY

Mandate

Active
Sven DE MEY

Mandate

Active
Thierry PIRENNE

Mandate

Active
Vincent DOUNIAUX

Mandate

Active

Ended mandates

Fabrice LIBERT

Director · since 21 septembre 2021 · until 31 décembre 2021

Ended
Bart SCHEERS

Managing director · since 02 juillet 2021 · until 31 décembre 2021

Ended
Bart D'Hooge

Director · since 31 mars 2021

Ended
Alain Muls

Director · since 01 janvier 2021 · until 06 décembre 2021

Ended

Ownership and network

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Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025-924,7 k €↑
  2. 2024
    Annual accounts 2024-1,4 M €↓
  3. 2023
    Annual accounts 2023-349,9 k €↑
  4. 2022
    Annual accounts 2022-1,6 M €↓
  5. 2021
    Annual accounts 2021304,6 k €↑
  6. 2020
    Annual accounts 2020233,8 k €↑
  7. 2019
    Annual accounts 2019-51,9 k €↓
  8. 2018
    Annual accounts 20181,5 M €↑
  9. 2017
    Annual accounts 20171 M €↑
  10. 2016
    Annual accounts 2016995,6 k €↑
  11. 2015
    Annual accounts 2015447,4 k €↓
  12. 2014
    Annual accounts 20141,9 M €↑
  13. 2013
    Annual accounts 201340,1 k €
  14. 01/01/2004
    IncorporationPublic establishment