ACTIVE

FLUVIUS MIDDEN-VLAANDEREN

Financial year 2025 · Closed on 31/12/2025

Net result17,7 M €+208,6 %over 1 year

Revenue242,7 M €+21,4 %over 1 year

Equity346,1 M €+0,1 %over 1 year

Identity

Source · BCE/KBO

FLUVIUS MIDDEN-VLAANDEREN is a Project leader organization, Flemish Region incorporated in 1980. Its main activity is: Distribution of electricity. Its registered office is in Dendermonde.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0220.764.971
Incorporation: 15/09/1980
Legal form: Project leader organization, Flemish Region
Registered office: Franz Courtensstraat (DEN) 11
9200 Dendermonde · FlandreSee on map
Contributed capital: 130 575 272,29 €
Latest accounts: 31/12/2025

Activities (NACE)

35130Distribution of electricity· main 35140Trade of electricity 35220Distribution of gaseous fuels through mains 35220Distribution of gaseous fuels through mains 42220Construction of utility projects for electricity and telecommunications 42220Construction of utility projects for electricity and telecommunications+7

Signals

ProfitablePositive cashflowPositive EBITDAHigh revenue

Financials

Source · NBB, 20 filings

Trend over 6 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	242,7 M €	+21.4%	200 M €	-0.8%	201,6 M €	-2.0%	205,8 M €	-15.8%	244,5 M €
EBITDA	85,1 M €	+27.1%	67 M €	+5.5%	63,5 M €	-12.5%	72,6 M €	-0.2%	72,7 M €
Operating result	37 M €	+73.6%	21,3 M €	-1.3%	21,6 M €	-31.4%	31,5 M €	-5.3%	33,3 M €
Net result	17,7 M €	+209%	5,7 M €	-29.6%	8,1 M €	-56.9%	18,9 M €	-2.9%	19,5 M €
Balance sheet
Equity	346,1 M €	+0.1%	345,7 M €	-2.4%	354 M €	-0.9%	357,4 M €	+0.8%	354,5 M €
Total assets	1,3 Md €	+4.7%	1,2 Md €	+6.1%	1,2 Md €	+6.5%	1,1 Md €	+2.0%	1,1 Md €
Cash	993,2 €	-31.1%	1,4 k €	+4.5%	1,4 k €	-80.8%	7,2 k €	+1080%	610,1 €
Debts	927,9 M €	+6.3%	872,6 M €	+10.3%	791,1 M €	+11.2%	711,4 M €	+3.5%	687,6 M €

Valuation

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

7 active · 12 ended

Active mandates

Evelien De Both

Director · since 20 mars 2025

Active

Carl Hanssens

Chairman of the board of directors · since 13 mars 2025

Active

Dirk Abbeloos

Vice-chairman of the board of directors · since 13 mars 2025

Active

Leentje Van Laere

Director · since 13 mars 2025

Active

Matthias Van Zele

Lid met raadgevende stem · since 13 mars 2025

Active

Vincent Delforge

Director · since 13 mars 2025

Active

Yves De Smet

Director · since 13 mars 2025

Active

Ended mandates

Mieke De Keyser

Director · since 12 septembre 2024

Ended

Carl Hanssens

Director · since 21 mars 2019

Ended

David Coppens

Chairman of the board of directors · since 21 mars 2019

Ended

Dirk Vanderpoorten

Director · since 21 mars 2019

Ended

Other companies at this address

Franz Courtensstraat (DEN) 11 9200 Dendermonde

Company	CBE no.
Autonoom Gemeentebedrijf Dendermonde● Active	0882.924.979
Openbaar Centrum voor Maatschappelijk Welzijn van Dendermonde● Active	0212.391.891
Stad Dendermonde● Active	0207.445.584

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	26/06/2026	24/06/2025	02/07/2024	26/06/2023	28/06/2022	01/07/2021
General meeting	15/06/2026	12/06/2025	20/06/2024	22/06/2023	23/06/2022	17/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	15/06/2026	26/06/2026	Dutch	PDF
Full model	31/12/2024	12/06/2025	24/06/2025	Dutch	PDF
Full model	31/12/2023	20/06/2024	02/07/2024	Dutch	PDF
Full model	31/12/2022	22/06/2023	26/06/2023	Dutch	PDF
Full model	31/12/2021	23/06/2022	28/06/2022	Dutch	PDF
Full model	31/12/2020	17/06/2021	01/07/2021	Dutch	PDF
Full model	31/12/2019	18/06/2020	27/07/2020	Dutch	PDF
Full model	31/12/2018	20/06/2019	18/07/2019	Dutch	PDF
Full model	31/12/2017	21/06/2018	19/07/2018	Dutch	PDF
Full model	31/12/2016	26/06/2017	11/07/2017	Dutch	PDF
Full model	31/12/2015	29/04/2016	12/05/2016	Dutch	PDF
Full model	31/12/2014	18/06/2015	26/06/2015	Dutch	PDF
Full model	31/12/2013	19/06/2014	20/06/2014	Dutch	PDF
Full model	31/12/2012	27/06/2013	01/07/2013	Dutch	PDF
Full model	31/12/2011	28/06/2012	05/07/2012	Dutch	PDF
Full model	31/12/2010	23/06/2011	11/07/2011	Dutch	PDF
Full model	31/12/2009	24/06/2010	01/07/2010	Dutch	PDF
Full model	31/12/2008	25/06/2009	14/07/2009	Dutch	PDF
Full model	31/12/2007	24/06/2008	10/07/2008	Dutch	PDF
Full model	31/12/2006	28/06/2007	05/07/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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

7 active · 12 ended

Active mandates

Evelien De Both

Director · since 20 mars 2025

Active

Carl Hanssens

Chairman of the board of directors · since 13 mars 2025

Active

Dirk Abbeloos

Vice-chairman of the board of directors · since 13 mars 2025

Active

Leentje Van Laere

Director · since 13 mars 2025

Active

Matthias Van Zele

Lid met raadgevende stem · since 13 mars 2025

Active

Vincent Delforge

Director · since 13 mars 2025

Active

Yves De Smet

Director · since 13 mars 2025

Active

Ended mandates

Mieke De Keyser

Director · since 12 septembre 2024

Ended

Carl Hanssens

Director · since 21 mars 2019

Ended

David Coppens

Chairman of the board of directors · since 21 mars 2019

Ended

Dirk Vanderpoorten

Director · since 21 mars 2019

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Capital / shares29/07/2026
KAPITAAL - AANDELEN
PDF
Mandates10/07/2026
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring04/02/2026
DOEL - KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Other17/11/2025
DIVERSEN
PDF
Restructuring14/10/2025
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring07/08/2025
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates28/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/05/2025
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

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

See the Business plan

Timeline

01/01/2026
split
2025
Annual accounts 202517,7 M €↑
12/06/2025
reconductionErnst & Young Bedrijfsrevisoren BV (EY) — Commissaris
01/04/2025
nominationEveline De Both — lid van het regionaal bestuurscomité (RBC) Zuid
20/03/2025
nominationEvelien De Both — lid van de Raad van Bestuur
13/03/2025
nominationVincent Delforge — bestuurder
13/03/2025
nominationLeen Van Laere — bestuurder
13/03/2025
nominationYves De Smet — bestuurder
13/03/2025
nominationDirk Abbeloos — bestuurder
13/03/2025
nominationCarl Hanssens — bestuurder
13/03/2025
nominationMatthias Van Zele — lid van de raad van bestuur met raadgevende stem
2025
Name changeFLUVIUS MIDDEN-VLAANDEREN
01/01/2025
split
2024
Annual accounts 20245,7 M €↓
21/11/2024
nominationMieke De Keyser — lid van het regionaal bestuurscomité (RBC) Noord
12/09/2024
nominationLotte Peeters — lid van de Raad van Bestuur
01/01/2024
nominationFrank Vanbrabant — CEO
01/01/2024
nominationRaf Bellers — Directeur Netbeheer
01/01/2024
nominationTom Ceuppens — Directeur Netuitbating
01/01/2024
nominationGuy Cosyns — Directeur Klantendienst en Databeheer
01/01/2024
nominationJean Pierre Hollevoet — Directeur Energie- en Klimaattransitie
01/01/2024
nominationDavid Termont — Directeur Financieel Beheer, Legal en ICT
01/01/2024
nominationIlse Van Belle — Directeur HR
01/01/2024
nominationFilip Van Rompaey — Directeur Strategie
2023
Annual accounts 20238,1 M €↓
2023
Name changeINTERGEM
2022
Annual accounts 202218,9 M €↓
23/06/2022
nominationMarnix Van Dooren — Commissaris-revisor
2021
Annual accounts 202119,5 M €↓
2021
Name changeINTERGEM - Intercommunale Vereniging voor Energieleveringen in Midden-Vlaanderen
2020
Annual accounts 202025,9 M €
2020
Name changeIntercommunale Vereniging voor Energieleveringen in Midden-Vlaanderen
15/09/1980
IncorporationProject leader organization, Flemish Region

FLUVIUS MIDDEN-VLAANDEREN

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

Other companies at this address

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

Timeline