ACTIVE

MICHELIN BELUX

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Financial year 2025 · closed on 31/12/2025

Net result

5,9 M €

+3.6% YoY

Revenue

245,3 M €

-3.6% YoY

Equity

6,9 M €

-0.3% YoY

Workforce

60,1 ETP

-3.7% YoY

What does MICHELIN BELUX do?

MICHELIN BELUX is a Public limited company incorporated in 1913. Its registered office is in Asse. It employs on average 60,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0400.906.146

Incorporation

20/12/1913

Legal form

Public limited company

Registered office

Brusselsesteenweg 494 box 1
1731 Asse · FlandreSee on map

Contributed capital

6 200 000,00 €

Latest accounts

31/12/2025

Average workforce

60,1 ETP

Joint committees (2)

Contacts

2 public details availableLog in to view

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	245,3 M €	-3.6%	254,5 M €	-23.4%	332,3 M €	+4.1%	319,1 M €	+12.4%	284 M €	+17.9%	240,7 M €	-17.4%	291,5 M €	-7.9%	316,4 M €	+3.9%	304,4 M €	+1.1%	301,2 M €	+8.9%	276,5 M €	+2.0%	271,1 M €	-5.7%	287,3 M €	-8.2%	312,9 M €	-9.1%	344,4 M €	+28.6%	267,7 M €	+30.3%	205,5 M €	-31.8%	301,3 M €	-3.4%	311,9 M €	+7.3%	290,7 M €
EBITDA	7,9 M €	+6.6%	7,4 M €	-24.9%	9,9 M €	+53.6%	6,4 M €	+9.0%	5,9 M €	+13.4%	5,2 M €	-14.0%	6 M €	-18.2%	7,4 M €	+24.7%	5,9 M €	+6.5%	5,6 M €	+5.3%	5,3 M €	+21.9%	4,3 M €	-18.7%	5,3 M €	+0.6%	5,3 M €	-17.5%	6,4 M €	+33.3%	4,8 M €	+6.9%	4,5 M €	+205%	-4,3 M €	-161%	7 M €	+25.4%	5,6 M €
Operating result	7,8 M €	+7.0%	7,2 M €	-23.9%	9,5 M €	+47.8%	6,4 M €	+10.8%	5,8 M €	+12.1%	5,2 M €	-16.3%	6,2 M €	-7.5%	6,7 M €	+10.1%	6,1 M €	+6.9%	5,7 M €	+14.0%	5 M €	+9.2%	4,6 M €	-14.5%	5,3 M €	-2.8%	5,5 M €	-5.9%	5,9 M €	+24.0%	4,7 M €	+8.2%	4,4 M €	+198%	-4,4 M €	-166%	6,8 M €	+24.2%	5,4 M €
Net result	5,9 M €	+3.6%	5,7 M €	-21.6%	7,2 M €	+58.0%	4,6 M €	+12.3%	4,1 M €	+8.7%	3,8 M €	-10.7%	4,2 M €	-9.0%	4,6 M €	+20.6%	3,8 M €	+3.8%	3,7 M €	+19.7%	3,1 M €	+7.9%	2,9 M €	-13.4%	3,3 M €	-1.5%	3,4 M €	-13.8%	3,9 M €	+26.8%	3,1 M €	+5.8%	2,9 M €	-26.4%	3,9 M €	+16.7%	3,4 M €	-7.0%	3,6 M €
Balance sheet
Equity	6,9 M €	-0.3%	6,9 M €	-0.3%	6,9 M €	+0.7%	6,9 M €	-0.2%	6,9 M €	-35.1%	10,6 M €	+55.1%	6,8 M €	-1.3%	6,9 M €	-35.3%	10,7 M €	+1.3%	10,6 M €	-34.7%	16,2 M €	+23.6%	13,1 M €	+28.0%	10,2 M €	+0.0%	10,2 M €	-26.3%	13,9 M €	+39.0%	10 M €	+1.7%	9,8 M €	-9.3%	10,8 M €	+5.2%	10,3 M €	-2.2%	10,5 M €
Total assets	87,4 M €	+4.0%	84,1 M €	-10.9%	94,4 M €	-15.2%	111,3 M €	+8.1%	102,9 M €	+8.4%	94,9 M €	+3.4%	91,8 M €	-9.1%	101 M €	-1.5%	102,6 M €	-5.0%	107,9 M €	+5.6%	102,2 M €	+12.8%	90,6 M €	-11.8%	102,7 M €	+9.0%	94,2 M €	-35.7%	146,7 M €	+10.5%	132,7 M €	+47.9%	89,7 M €	-32.6%	133,2 M €	+3.9%	128,2 M €	+0.1%	128,1 M €
Cash	–		–		6,2 M €	+12.6%	5,5 M €	+486%	936,2 k €		–		352,1 k €	+29.6%	271,7 k €	-97.6%	11,3 M €	-1.7%	11,5 M €	+2042%	537,2 k €	-41.4%	916,4 k €	-49.2%	1,8 M €	-38.8%	2,9 M €	+31.4%	2,2 M €	-7.9%	2,4 M €	-71.2%	8,4 M €	+8.3%	7,8 M €	-18.0%	9,5 M €	-20.8%	12 M €
Debts	76,1 M €	+2.6%	74,2 M €	-6.1%	79 M €	-18.5%	96,9 M €	+7.0%	90,6 M €	+15.7%	78,3 M €	+0.0%	78,3 M €	-9.3%	86,3 M €	+4.7%	82,4 M €	-2.6%	84,6 M €	+10.8%	76,3 M €	+10.0%	69,4 M €	-15.7%	82,3 M €	+11.1%	74,1 M €	-38.6%	120,7 M €	+9.5%	110,2 M €	+62.9%	67,7 M €	-37.9%	109 M €	+6.5%	102,3 M €	-2.6%	105,1 M €
Other
Workforce	60,1 ETP	-3.7%	62,4 ETP	-7.3%	67,3 ETP	-6.0%	71,6 ETP	-5.9%	76,1 ETP	-5.3%	80,4 ETP	-0.1%	80,5 ETP	+0.9%	79,8 ETP	-4.3%	83,4 ETP	-17.2%	100,7 ETP	-9.3%	111,0 ETP	-10.4%	123,9 ETP	-6.1%	131,9 ETP	-5.7%	139,9 ETP	-3.3%	144,7 ETP	+6.6%	135,7 ETP	-0.3%	136,1 ETP	+0.9%	134,9 ETP	-17.6%	163,7 ETP	-6.5%	175,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 65 ended

Active mandates

Gert-Jan VERHOEVE

Chairman of the board of directors · since 28 mai 2024 · until 28 mai 2030

Active

Jean-Charles CAMBIER

Director · since 28 mai 2024 · until 28 mai 2030

Active

Leslie HELSEN

Director · since 28 mai 2024 · until 28 mai 2030

Active

Raquel Rebeca NIETO

Director · since 28 mai 2024 · until 31 décembre 2025

Active

Ended mandates

Raquel Rebeca NIETO

Director · since 28 mai 2024 · until 28 mai 2030

Ended

Raquel Rebeca NIETO

Director · since 29 juillet 2023 · until 28 mai 2024

Ended

Jean-Charles CAMBIER

Director · since 30 mai 2023 · until 28 mai 2024

Ended

Gert-Jan VERHOEVE

Chairman of the board of directors · since 01 janvier 2023 · until 30 mai 2023

Ended

At this address

Other companies at this address

Company	CBE no.
DEELVERENIGING VAN MEDE-EIGENAARS GEBOUW B - CONNEXION PARK, TE 1731 ASSE (ZELLIK), BRUSSELSTEENWEG 494● Active	0784.973.191
Michelin Research & Development Belgium● Active	0456.514.365

Annual accounts

Full financial information

	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	03/06/2026	11/06/2025	30/05/2024	12/06/2023	29/11/2022	02/09/2021
General meeting	26/05/2026	27/05/2025	28/05/2024	30/05/2023	31/05/2022	25/05/2021
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

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	31/12/2025	26/05/2026	03/06/2026	Dutch	PDF
Full model	31/12/2024	27/05/2025	11/06/2025	Dutch	PDF
Full model	31/12/2023	28/05/2024	30/05/2024	Dutch	PDF
Full model	31/12/2022	30/05/2023	12/06/2023	Dutch	PDF
Full modelCorrection	31/12/2021	31/05/2022	29/11/2022	Dutch	PDF
Full model	31/12/2021	31/05/2022	21/06/2022	Dutch	PDF
Full model	31/12/2020	25/05/2021	02/09/2021	Dutch	PDF
Full model	31/12/2019	26/05/2020	15/06/2020	Dutch	PDF
Full model	31/12/2018	28/05/2019	05/06/2019	Dutch	PDF
Full model	31/12/2017	29/05/2018	20/06/2018	Dutch	PDF
Full model	31/12/2016	30/05/2017	09/06/2017	Dutch	PDF
Full model	31/12/2015	31/05/2016	02/06/2016	Dutch	PDF
Full model	31/12/2014	26/05/2015	27/05/2015	Dutch	PDF
Full model	31/12/2013	27/05/2014	28/05/2014	Dutch	PDF
Full model	31/12/2012	28/05/2013	10/06/2013	Dutch	PDF
Full model	31/12/2011	29/05/2012	29/05/2012	Dutch	PDF
Full model	31/12/2010	31/05/2011	07/06/2011	Dutch	PDF
Full model	31/12/2009	25/05/2010	28/05/2010	Dutch	PDF
Full model	31/12/2008	26/05/2009	27/05/2009	Dutch	PDF
Full model	31/12/2007	27/05/2008	29/05/2008	Dutch	PDF
Full model	31/12/2006	29/05/2007	30/05/2007	Dutch	PDF
Full model	31/12/2005	13/06/2006	05/07/2006	Dutch	PDF
Full model	31/12/2004	14/06/2005	24/06/2005	Dutch	PDF
Full model	31/12/2003	08/06/2004	30/06/2004	Dutch	PDF

View all 50 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 65 ended

Active mandates

Gert-Jan VERHOEVE

Chairman of the board of directors · since 28 mai 2024 · until 28 mai 2030

Active

Jean-Charles CAMBIER

Director · since 28 mai 2024 · until 28 mai 2030

Active

Leslie HELSEN

Director · since 28 mai 2024 · until 28 mai 2030

Active

Raquel Rebeca NIETO

Director · since 28 mai 2024 · until 31 décembre 2025

Active

Ended mandates

Raquel Rebeca NIETO

Director · since 28 mai 2024 · until 28 mai 2030

Ended

Raquel Rebeca NIETO

Director · since 29 juillet 2023 · until 28 mai 2024

Ended

Jean-Charles CAMBIER

Director · since 30 mai 2023 · until 28 mai 2024

Ended

Gert-Jan VERHOEVE

Chairman of the board of directors · since 01 janvier 2023 · until 30 mai 2023

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Dissolution28/08/2026
Ontslag, benoeming en stopzetting gevolmachtigde
PDF
Mandates16/02/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other15/07/2024
DIVERSEN
PDF
Mandates22/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/04/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/01/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/06/2022
ONTSLAGEN - BENOEMINGEN
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

2025
Annual accounts 20255,9 M €↑
2024
Annual accounts 20245,7 M €↓
30/06/2024
nominationKevin Veestraeten — Commissaris
2023
Annual accounts 20237,2 M €↑
29/07/2023
nominationRaquel Rebeca NIETO — Bestuurder
2022
Annual accounts 20224,6 M €↑
19/12/2022
nominationGert-Jan VERHOEVE — Lid en Voorzitter van de Raad van Bestuur alsmede tot afgevaardigde van het dagelijks bestuur (Gedelegeerd Bestuurder)
31/05/2022
reconductionLeslie HELSEN — Bestuurder
31/05/2022
reconductionThomas FONTANA — Bestuurder
31/05/2022
reconductionEric FAIDY — Bestuurder
31/05/2022
reconductionJean-Charles CAMBIER — Bestuurder
31/05/2022
reconductionAlice GALLARDO — Algemeen Gevolmachtigde, met de titel van Financieel Directeur
31/05/2022
nominationMathy DOUMEN — Commissaris (vertegenwoordiger van BV PWC Bedrijfsrevisoren)
01/04/2022
nominationThomas FONTANA — lid van de Raad van Bestuur, afgevaardigde van het dagelijks bestuur, Voorzitter van de Raad van Bestuur en Personeelsdirecteur
01/04/2022
nominationLeslie HELSEN — lid van de Raad van Bestuur
01/04/2022
nominationJean-Charles CAMBIER — lid van de Raad van Bestuur
2021
Annual accounts 20214,1 M €↑
2020
Annual accounts 20203,8 M €↓
2019
Annual accounts 20194,2 M €↓
2018
Annual accounts 20184,6 M €↑
2017
Annual accounts 20173,8 M €↑
2016
Annual accounts 20163,7 M €↑
2015
Annual accounts 20153,1 M €↑
2014
Annual accounts 20142,9 M €↓
2013
Annual accounts 20133,3 M €↓
2012
Annual accounts 20123,4 M €↓
2011
Annual accounts 20113,9 M €↑
2010
Annual accounts 20103,1 M €↑
2009
Annual accounts 20092,9 M €↓
2008
Annual accounts 20083,9 M €↑
2007
Annual accounts 20073,4 M €↓
2006
Annual accounts 20063,6 M €
20/12/1913
IncorporationPublic limited company

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

MICHELIN BELUX

Overview

What does MICHELIN BELUX do?

Trend over 20 financial years

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