ACTIVE

Fiducre

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Financial year 2025 · closed on 31/12/2025

Net result

26,5 M €

-5.9% YoY

Revenue

56,4 M €

-3.3% YoY

Equity

9,9 M €

0.0% YoY

Workforce

192,5 ETP

-1.9% YoY

What does Fiducre do?

Fiducre is a Public limited company incorporated in 1965. Its registered office is in Bruxelles. It employs on average 192,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0403.173.372

Incorporation

12/05/1965

Legal form

Public limited company

Registered office

Avenue Marnix 24
1000 Bruxelles · BruxellesSee on map

Contributed capital

2 739 223,46 €

Latest accounts

31/12/2025

Average workforce

192,5 ETP

Joint committees (2)

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	56,4 M €	-3.3%	58,3 M €	+1.9%	57,2 M €	-9.7%	63,4 M €	+13.8%	55,7 M €	-0.1%	55,8 M €	-3.6%	57,9 M €	+4.3%	55,5 M €	+25.1%	44,3 M €	+2.7%	43,2 M €	-4.4%	45,2 M €	+17.4%	38,4 M €	+4.7%	36,7 M €	+8.1%	34 M €	+8.2%	31,4 M €	+5.7%	29,7 M €	+5.9%	28 M €	+2.8%	27,3 M €	+7.5%	25,4 M €	+3.1%	24,6 M €
EBITDA	38,3 M €	-2.1%	39,1 M €	+5.5%	37,1 M €	-20.9%	46,8 M €	+15.5%	40,6 M €	-4.2%	42,4 M €	-3.9%	44,1 M €	-0.1%	44,1 M €	+38.6%	31,8 M €	-0.1%	31,9 M €	-8.5%	34,8 M €	+21.4%	28,7 M €	+6.8%	26,8 M €	+7.2%	25,1 M €	+8.2%	23,2 M €	+8.1%	21,4 M €	+5.8%	20,3 M €	+2.5%	19,8 M €	+7.4%	18,4 M €	+0.4%	18,3 M €
Operating result	38,3 M €	-2.0%	39,1 M €	+6.2%	36,8 M €	-20.8%	46,5 M €	+16.0%	40,1 M €	-4.5%	42 M €	-4.0%	43,7 M €	-0.5%	43,9 M €	+38.5%	31,7 M €	-0.1%	31,8 M €	+69.0%	18,8 M €	+21.1%	15,5 M €	-6.5%	16,6 M €	-5.6%	17,6 M €	-8.1%	19,1 M €	-1.3%	19,4 M €	+0.1%	19,4 M €	-2.9%	19,9 M €	+10.7%	18 M €	+1.1%	17,8 M €
Net result	26,5 M €	-5.9%	28,1 M €	+2.8%	27,3 M €	-21.0%	34,6 M €	+16.5%	29,7 M €	-4.4%	31,1 M €	+0.6%	30,9 M €	+3.3%	29,9 M €	+49.4%	20 M €	+1.0%	19,8 M €	+79.8%	11 M €	+24.4%	8,8 M €	-9.5%	9,8 M €	-9.1%	10,8 M €	-10.2%	12 M €	-5.6%	12,7 M €	-1.0%	12,8 M €	-4.9%	13,5 M €	+9.5%	12,3 M €	+3.2%	11,9 M €
Balance sheet
Equity	9,9 M €	0.0%	9,9 M €	-5.9%	10,5 M €	-21.6%	13,4 M €	+14.3%	11,7 M €	+18.5%	9,9 M €	+45.7%	6,8 M €	+83.4%	3,7 M €	0.0%	3,7 M €	0.0%	3,7 M €	0.0%	3,7 M €	0.0%	3,7 M €	0.0%	3,7 M €	0.0%	3,7 M €	0.0%	3,7 M €	0.0%	3,7 M €	+12.0%	3,3 M €	+1.0%	3,3 M €	-8.2%	3,6 M €	+0.3%	3,6 M €
Total assets	162,9 M €	+12.4%	144,9 M €	+11.1%	130,4 M €	+4.9%	124,3 M €	+2.4%	121,4 M €	-4.1%	126,6 M €	-8.4%	138,2 M €	-3.1%	142,6 M €	+8.1%	131,8 M €	+2.5%	128,6 M €	+8.5%	118,6 M €	+4.3%	113,6 M €	+14.2%	99,5 M €	+30.5%	76,2 M €	+19.3%	63,9 M €	+26.3%	50,6 M €	+40.6%	36 M €	+25.3%	28,7 M €	+14.4%	25,1 M €	-17.7%	30,5 M €
Cash	3,8 M €	+24.2%	3,1 M €	+32.8%	2,3 M €	-25.9%	3,1 M €	+12.5%	2,8 M €	-1.2%	2,8 M €	-33.6%	4,2 M €	-52.6%	8,9 M €	+96.0%	4,5 M €	+32.4%	3,4 M €	+76.9%	1,9 M €	+131%	840,1 k €	-58.9%	2 M €	+144%	839,3 k €	-10.1%	933,5 k €	-40.6%	1,6 M €	-5.5%	1,7 M €	-12.3%	1,9 M €	+31.1%	1,4 M €	-65.4%	4,2 M €
Debts	152,1 M €	+13.2%	134,3 M €	+12.1%	119,8 M €	+8.2%	110,7 M €	+1.1%	109,5 M €	-6.0%	116,5 M €	-11.0%	130,9 M €	-5.3%	138,2 M €	+8.2%	127,8 M €	+2.6%	124,5 M €	+8.9%	114,4 M €	+4.6%	109,4 M €	+14.8%	95,3 M €	+32.0%	72,2 M €	+20.5%	59,9 M €	+28.1%	46,8 M €	+43.7%	32,6 M €	+29.2%	25,2 M €	+17.1%	21,5 M €	-20.1%	26,9 M €
Other
Workforce	192,5 ETP	-1.9%	196,3 ETP	-2.8%	201,9 ETP	+4.2%	193,7 ETP	-6.4%	206,9 ETP	-0.9%	208,8 ETP	+3.7%	201,4 ETP	-0.2%	201,9 ETP	+89.2%	106,7 ETP	+6.4%	100,3 ETP	+5.2%	95,3 ETP	+4.8%	90,9 ETP	+8.3%	83,9 ETP	+2.3%	82,0 ETP	+0.7%	81,4 ETP	+5.7%	77,0 ETP	+4.1%	74,0 ETP	+2.9%	71,9 ETP	+5.3%	68,3 ETP	+3.3%	66,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 94 ended

Active mandates

Francisco DIAS GUERRA SCHRAM

Mandate

Active

Gregory DEKIMPE

Mandate

Active

Jean DOBBENI

Mandate

Active

Renaat HUYSMAN

Mandate

Active

Sandra Simundza Bilandzic

Mandate

Active

Ended mandates

Martine VAN OUDENHOVE

Managing director · since 12 mai 2020 · until 14 avril 2025

Ended

Gordana HULINA

Director · since 15 janvier 2020 · until 10 avril 2023

Ended

Alain MALSCHAERT

Director · since 13 mai 2019 · until 14 avril 2025

Ended

Alain MALSCHAERT

Managing director · since 13 mai 2019 · until 12 mai 2025

Ended

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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	22/04/2026	29/04/2025	30/04/2024	09/05/2023	09/05/2022	26/04/2021
General meeting	13/04/2026	14/04/2025	08/04/2024	11/04/2023	11/04/2022	12/04/2021
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

40 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	13/04/2026	22/04/2026	French	PDF
Full model	31/12/2025	13/04/2026	22/04/2026	Dutch	PDF
Full model	31/12/2024	14/04/2025	29/04/2025	Dutch	PDF
Full model	31/12/2024	14/04/2025	29/04/2025	French	PDF
Full model	31/12/2023	08/04/2024	30/04/2024	Dutch	PDF
Full model	31/12/2023	08/04/2024	30/04/2024	French	PDF
Full model	31/12/2022	11/04/2023	09/05/2023	Dutch	PDF
Full model	31/12/2022	11/04/2023	09/05/2023	French	PDF
Full model	31/12/2021	11/04/2022	09/05/2022	Dutch	PDF
Full model	31/12/2021	11/04/2022	06/05/2022	French	PDF
Full model	31/12/2020	12/04/2021	26/04/2021	Dutch	PDF
Full model	31/12/2020	12/04/2021	26/04/2021	French	PDF
Full model	31/12/2019	11/05/2020	08/06/2020	Dutch	PDF
Full model	31/12/2019	11/05/2020	08/06/2020	French	PDF
Full model	31/12/2018	13/05/2019	06/06/2019	Dutch	PDF
Full model	31/12/2018	13/05/2019	06/06/2019	French	PDF
Full model	31/12/2017	14/05/2018	11/06/2018	Dutch	PDF
Full model	31/12/2017	14/05/2018	11/06/2018	French	PDF
Full model	31/12/2016	08/05/2017	15/05/2017	Dutch	PDF
Full model	31/12/2016	08/05/2017	15/05/2017	French	PDF
Full model	31/12/2015	09/05/2016	17/05/2016	Dutch	PDF
Full model	31/12/2015	09/05/2016	17/05/2016	French	PDF
Full model	31/12/2014	11/05/2015	05/06/2015	Dutch	PDF
Full model	31/12/2014	11/05/2015	05/06/2015	French	PDF

View all 40 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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 · 5 active · 94 ended

Active mandates

Francisco DIAS GUERRA SCHRAM

Mandate

Active

Gregory DEKIMPE

Mandate

Active

Jean DOBBENI

Mandate

Active

Renaat HUYSMAN

Mandate

Active

Sandra Simundza Bilandzic

Mandate

Active

Ended mandates

Martine VAN OUDENHOVE

Managing director · since 12 mai 2020 · until 14 avril 2025

Ended

Gordana HULINA

Director · since 15 janvier 2020 · until 10 avril 2023

Ended

Alain MALSCHAERT

Director · since 13 mai 2019 · until 14 avril 2025

Ended

Alain MALSCHAERT

Managing director · since 13 mai 2019 · until 12 mai 2025

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates02/06/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates02/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/02/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates26/02/2026
ONTSLAGEN - BENOEMINGEN
PDF
Other11/12/2025
DIVERSEN
PDF
Other11/12/2025
DIVERS
PDF
Other13/11/2025
DIVERSEN
PDF
Other13/11/2025
DIVERS
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

13/04/2026
nominationDeloitte Bedrijfsrevisoren — Réviseurs d'Entreprises BV/SRL — commissaire
2025
Annual accounts 202526,5 M €↓
12/12/2025
nominationGregory Dekimpe — bestuurder
12/12/2025
nominationGregory Dekimpe — administrateur
01/10/2025
nominationJean Dobbeni — administrateur
01/10/2025
nominationJean Dobbeni — voorzitter van de raad van bestuur
28/04/2025
nominationRenaat Huysman — bestuurder, gedelegeerd bestuurder en CEO
28/04/2025
nominationRenaat Huysman — administrateur délégué et CEO
14/04/2025
nominationKPMG, Bedrijfsrevisoren - Réviseurs d'Entreprises BV/SRL — commissaire
25/01/2025
nominationDeclerck Ann — administrateur
25/01/2025
nominationSimundza Bilandzic Sandra — administrateur
25/01/2025
nominationLebegge Cédric — président
25/01/2025
nominationSchram Francisco — administrateur
25/01/2025
nominationVan Oudenhove Martine — administrateur délégué
25/01/2025
nominationDeclerck Ann — bestuurder
25/01/2025
nominationSimundza Bilandzic Sandra — bestuurder
25/01/2025
nominationLebegge Cédric — voorzitter
25/01/2025
nominationSchram Francisco — bestuurder
25/01/2025
nominationVan Oudenhove Martine — gedelegeerd bestuurder
01/01/2025
nominationKPMG, Bedrijfsrevisoren — Réviseurs d'Entreprises BV/SRL — commissaris
2024
Annual accounts 202428,1 M €↑
01/01/2024
nominationFrancisco Schram — administrateur
01/01/2024
nominationFrancisco Schram — bestuurder
2023
Annual accounts 202327,3 M €↓
06/12/2023
nominationSali Salieski — administrateur
06/12/2023
nominationSali Salieski — bestuurder
05/10/2023
nominationSandra Simundza Bilandzic — administrateur
05/10/2023
nominationSandra Simundza Bilandzic — bestuurder
11/04/2023
reconductionGordana Hulina — administrateur
11/04/2023
reconductionGordana Hulina — bestuurder
2022
Annual accounts 202234,6 M €↑
11/04/2022
reconductionStéphane Nolf — Commissaris
11/04/2022
nominationKPMG, Réviseurs d'entreprises — Commissaire
2021
Annual accounts 202129,7 M €↓
01/10/2021
autre
2020
Annual accounts 202031,1 M €↑
2019
Annual accounts 201930,9 M €↑
2018
Annual accounts 201829,9 M €↑
2017
Annual accounts 201720 M €↑
2016
Annual accounts 201619,8 M €↑
2015
Annual accounts 201511 M €↑
2014
Annual accounts 20148,8 M €↓
2013
Annual accounts 20139,8 M €↓
2012
Annual accounts 201210,8 M €↓
2011
Annual accounts 201112 M €↓
2010
Annual accounts 201012,7 M €↓
2009
Annual accounts 200912,8 M €↓
2008
Annual accounts 200813,5 M €↑
2007
Annual accounts 200712,3 M €↑
2006
Annual accounts 200611,9 M €
12/05/1965
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

Fiducre

Overview

What does Fiducre 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