ACTIVE

SOCIETE WALLONNE DE FINANCEMENT COMPLEMENTAIRE DES INFRASTRUCTURES

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Financial year 2025 · Closed on 31/12/2025

Net result111,7 M €+10,9 %over 1 year
Revenue502,8 M €+2,4 %over 1 year
Equity2,3 Md €+6,0 %over 1 year
Workforce49,5 ETP+4,4 %over 1 year

Identity

Source · BCE/KBO

SOCIETE WALLONNE DE FINANCEMENT COMPLEMENTAIRE DES INFRASTRUCTURES is a company registered in Belgium. Its registered office is in Liège. It employs on average 49,5 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0252.151.302
Incorporation
10/03/1994
Registered office
Rue Canal-de-l'Ourthe 9 box 3
4031 Liège · WallonieSee on map
Contributed capital
1 441 337 874,00 €
Latest accounts
31/12/2025
Average workforce
49,5 ETP
Joint committees (1)
  • 218
Contacts
1 public detail availableLog in to view
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 22 filings

Trend over 5 financial years

20252024202320222010
Income statement
Revenue502,8 M €491 M €460,3 M €413,5 M €103,9 M €
EBITDA283 M €258,6 M €241,3 M €212,1 M €50,7 M €
Operating result107,4 M €97,6 M €104,6 M €59,3 M €5,1 M €
Net result111,7 M €100,7 M €97,8 M €47,4 M €883,1 k €
Balance sheet
Equity2,3 Md €2,2 Md €2,1 Md €1,9 Md €1,7 Md €
Total assets3 Md €2,9 Md €2,8 Md €2,7 Md €1,9 Md €
Cash224,6 M €197 M €177,8 M €153 M €22 M €
Debts699,8 M €765,6 M €719,8 M €718,1 M €122,8 M €
Other
Workforce49,5 ETP47,4 ETP48,3 ETP49,4 ETP30,5 ETP

Valuation

Indicative valuation

As an indication, this company is worth

more than 1.000 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

10 active · 30 ended

Active mandates

Christine GAIONI

Director · since 01 septembre 2025 · until 31 août 2031

Active
Christophe CIEPERS

Director · since 01 septembre 2025 · until 31 août 2031

Active
François KINARD

Chairman of the board of directors · since 01 septembre 2025 · until 31 août 2031

Active
François PIETTE

Director · since 01 septembre 2025 · until 31 août 2031

Active
Justine COMIJN

Director · since 01 septembre 2025 · until 31 août 2031

Active
Marie-Laure MAES

Director · since 01 septembre 2025 · until 31 août 2031

Active
Michaël REUL

Director · since 01 septembre 2025 · until 31 août 2031

Active
Simon LACROIX

Director · since 01 septembre 2025 · until 31 août 2031

Active
Thierry LESPLINGART

Director · since 01 septembre 2025 · until 31 août 2031

Active
Virginie DEFRANG-FIRKET

Vice-chairman of the board of directors · since 01 septembre 2025 · until 31 août 2031

Active

Ended mandates

Christine GAIONI

Director · since 01 février 2024 · until 31 mars 2026

Ended
Jean-Pierre BOURDEAUD'HUY

Director · since 28 avril 2022 · until 31 mars 2026

Ended
Jean-Pierre BOURDEAUD’HUY

Director · since 28 avril 2022

Ended
Géraldine MARTIN

Director · since 08 avril 2021 · until 31 mars 2026

Ended

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 date13/05/202620/05/202507/05/202423/05/202331/05/202210/05/2021
General meeting24/04/202625/04/202526/04/202428/04/202329/04/202230/04/2021
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, 22 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202524/04/202613/05/2026FrenchPDF
Full modelCorrection31/12/202425/04/202520/05/2025FrenchPDF
Full model31/12/202425/04/202529/04/2025FrenchPDF
Full model31/12/202326/04/202407/05/2024FrenchPDF
Full model31/12/202228/04/202323/05/2023FrenchPDF
Full model31/12/202129/04/202231/05/2022FrenchPDF
Full model31/12/202030/04/202110/05/2021FrenchPDF
Full model31/12/201929/05/202008/06/2020FrenchPDF
Full model31/12/201824/05/201906/06/2019FrenchPDF
Full model31/12/201725/05/201828/05/2018FrenchPDF
Full model31/12/201614/07/201727/07/2017FrenchPDF
Full model31/12/201524/06/201614/07/2016FrenchPDF
Full model31/12/201429/05/201514/08/2015FrenchPDF
Full model31/12/201323/05/201406/06/2014FrenchPDF
Full model31/12/201226/04/201313/05/2013FrenchPDF
Full model31/12/201127/04/201230/04/2012FrenchPDF
Full modelCorrection31/12/201027/04/201230/04/2012FrenchPDF
Full model31/12/201030/09/201104/10/2011FrenchPDF
Full model31/12/200928/05/201010/06/2010FrenchPDF
Full model31/12/200824/04/200911/05/2009FrenchPDF
Full model31/12/200725/04/200808/09/2008FrenchPDF
Full model31/12/200627/04/200705/06/2007FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

more than 1.000 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

10 active · 30 ended

Active mandates

Christine GAIONI

Director · since 01 septembre 2025 · until 31 août 2031

Active
Christophe CIEPERS

Director · since 01 septembre 2025 · until 31 août 2031

Active
François KINARD

Chairman of the board of directors · since 01 septembre 2025 · until 31 août 2031

Active
François PIETTE

Director · since 01 septembre 2025 · until 31 août 2031

Active
Justine COMIJN

Director · since 01 septembre 2025 · until 31 août 2031

Active
Marie-Laure MAES

Director · since 01 septembre 2025 · until 31 août 2031

Active
Michaël REUL

Director · since 01 septembre 2025 · until 31 août 2031

Active
Simon LACROIX

Director · since 01 septembre 2025 · until 31 août 2031

Active
Thierry LESPLINGART

Director · since 01 septembre 2025 · until 31 août 2031

Active
Virginie DEFRANG-FIRKET

Vice-chairman of the board of directors · since 01 septembre 2025 · until 31 août 2031

Active

Ended mandates

Christine GAIONI

Director · since 01 février 2024 · until 31 mars 2026

Ended
Jean-Pierre BOURDEAUD'HUY

Director · since 28 avril 2022 · until 31 mars 2026

Ended
Jean-Pierre BOURDEAUD’HUY

Director · since 28 avril 2022

Ended
Géraldine MARTIN

Director · since 08 avril 2021 · until 31 mars 2026

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 2025111,7 M €↑
  2. 2024
    Annual accounts 2024100,7 M €↑
  3. 2023
    Annual accounts 202397,8 M €↑
  4. 2022
    Annual accounts 202247,4 M €↑
  5. 2010
    Annual accounts 2010883,1 k €
  6. 10/03/1994
    Incorporation