ACTIVE

INDUCTOTHERM COATING EQUIPMENT

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Financial year 2025 · Closed on 31/12/2025

Net result9,1 M €+129,5 %over 1 year

Revenue53,3 M €+57,9 %over 1 year

Equity26,6 M €+4,4 %over 1 year

Workforce131,5 ETP+5,8 %over 1 year

Identity

Source · BCE/KBO

INDUCTOTHERM COATING EQUIPMENT is a Public limited company incorporated in 1967. Its main activity is: Manufacture of electric motors, generators and transformers. Its registered office is in Herstal. It employs on average 131,5 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0404.411.509
Incorporation: 14/04/1967
Legal form: Public limited company
Registered office: Rue de Hermée 197
4040 Herstal · WallonieSee on map
Contributed capital: 3 250 000,00 €
Latest accounts: 31/12/2025
Average workforce: 131,5 ETP

Activities (NACE)

27110Manufacture of electric motors, generators and transformers· main 27110Manufacture of electric motors, generators and transformers 28210Manufacture of ovens, furnaces and furnace burners 28210Manufacture of ovens, furnaces and furnace burners 29210Manufacture of bodies (coachwork) for motor vehicles; manufacture of trailers and semi-trailers 31100Manufacture of furniture+1

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 22 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	53,3 M €	+57.9%	33,8 M €	-0.1%	33,8 M €	+13.5%	29,8 M €	+34.0%	22,2 M €
EBITDA	14,8 M €	+191%	5,1 M €	-14.0%	5,9 M €	+34.0%	4,4 M €	+40.4%	3,2 M €
Operating result	12 M €	+116%	5,6 M €	+20.1%	4,6 M €	+204%	1,5 M €	-52.0%	3,2 M €
Net result	9,1 M €	+130%	4 M €	+9.1%	3,6 M €	+272%	980,7 k €	-73.9%	3,8 M €
Balance sheet
Equity	26,6 M €	+4.4%	25,5 M €	+4.0%	24,5 M €	+7.2%	22,9 M €	+1.0%	22,7 M €
Total assets	59,1 M €	+17.2%	50,5 M €	+12.3%	44,9 M €	+3.5%	43,4 M €	+14.6%	37,9 M €
Cash	5,2 M €	+740%	620,3 k €	-67.0%	1,9 M €	+103%	927,5 k €	-51.0%	1,9 M €
Debts	21,1 M €	+23.2%	17,2 M €	+31.5%	13 M €	-7.7%	14,1 M €	+35.3%	10,4 M €
Other
Workforce	131,5 ETP	+5.8%	124,3 ETP	+3.3%	120,3 ETP	+7.8%	111,6 ETP	+3.6%	107,7 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 51 ended

Active mandates

Gaetan DEBATY

Director · since 07 février 2024 · until 04 mai 2029

Active

Michel FONTAINE

Managing director · since 05 mai 2023 · until 05 mai 2028

Active

Bernard, Maurice RAFFNER

Director · since 07 mai 2021 · until 08 mai 2026

Active

Jean-Paul RENOUPREZ

Director · since 07 mai 2021 · until 08 mai 2026

Active

Gary, Anthony DOYON

Director · since 17 mai 2019 · until 04 mai 2029

Active

Ended mandates

Gary, Anthony DOYON

Director · since 03 mai 2024 · until 03 mai 2029

Ended

GAETAN DEBATY

Director · since 07 février 2024 · until 03 mai 2029

Ended

Virginia SMITH

Director · since 06 mai 2022 · until 04 mai 2026

Ended

Virginia SMITH

Director · since 06 mai 2022 · until 07 mai 2027

Ended

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	15/06/2026	25/07/2025	04/06/2024	30/05/2023	15/06/2022	06/07/2021
General meeting	08/05/2026	16/05/2025	03/05/2024	05/05/2023	06/05/2022	07/05/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 22 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	08/05/2026	15/06/2026	French	PDF
Full modelCorrection	31/12/2024	16/05/2025	25/07/2025	French	PDF
Full model	31/12/2024	16/05/2025	22/07/2025	French	PDF
Full model	31/12/2023	03/05/2024	04/06/2024	French	PDF
Full model	31/12/2022	05/05/2023	30/05/2023	French	PDF
Full model	31/12/2021	06/05/2022	15/06/2022	French	PDF
Full modelCorrection	31/12/2020	07/05/2021	06/07/2021	French	PDF
Full model	31/12/2020	07/05/2021	07/06/2021	French	PDF
Full model	31/12/2019	20/05/2020	22/06/2020	French	PDF
Full model	31/12/2018	17/05/2019	23/07/2019	French	PDF
Full model	31/12/2017	11/05/2018	16/08/2018	French	PDF
Full model	31/12/2016	16/06/2017	28/08/2017	French	PDF
Full model	31/12/2015	13/05/2016	13/06/2016	French	PDF
Full model	31/12/2014	08/05/2015	23/06/2015	French	PDF
Full model	31/12/2013	02/05/2014	16/06/2014	French	PDF
Full model	31/12/2012	03/05/2013	28/05/2013	French	PDF
Full model	31/12/2011	01/06/2012	27/06/2012	French	PDF
Full model	31/12/2010	06/05/2011	31/05/2011	French	PDF
Full model	31/12/2009	04/06/2010	29/06/2010	French	PDF
Full model	31/12/2008	05/06/2009	07/07/2009	French	PDF
Full model	31/12/2007	06/06/2008	04/07/2008	French	PDF
Full model	31/12/2006	01/06/2007	27/06/2007	French	PDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 51 ended

Active mandates

Gaetan DEBATY

Director · since 07 février 2024 · until 04 mai 2029

Active

Michel FONTAINE

Managing director · since 05 mai 2023 · until 05 mai 2028

Active

Bernard, Maurice RAFFNER

Director · since 07 mai 2021 · until 08 mai 2026

Active

Jean-Paul RENOUPREZ

Director · since 07 mai 2021 · until 08 mai 2026

Active

Gary, Anthony DOYON

Director · since 17 mai 2019 · until 04 mai 2029

Active

Ended mandates

Gary, Anthony DOYON

Director · since 03 mai 2024 · until 03 mai 2029

Ended

GAETAN DEBATY

Director · since 07 février 2024 · until 03 mai 2029

Ended

Virginia SMITH

Director · since 06 mai 2022 · until 04 mai 2026

Ended

Virginia SMITH

Director · since 06 mai 2022 · until 07 mai 2027

Ended

Ownership and network

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Try for free

Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates16/06/2025
DEMISSIONS, NOMINATIONS
PDF
Other20/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates11/09/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates28/11/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates25/10/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates22/03/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates12/07/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates04/10/2017
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF

Similar companies

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

See the Business plan

Timeline

2025
Annual accounts 20259,1 M €↑
2024
Annual accounts 20244 M €↑
07/02/2024
nominationGaëtan Debaty — administrateur
07/02/2024
nominationJean-Paul Renouprez — President du Conseil d'Administration
2023
Annual accounts 20233,6 M €↑
05/05/2023
reconductionMichel Fontaine — administrateur et Administrateur Délégué en charge de la gestion journalière
2022
Annual accounts 2022980,7 k €↓
06/05/2022
reconductionVirginia R. SMITH — administrateur
06/05/2022
nominationMichel FONTAINE — Administrateur Délégué en charge de la gestion journalière
2021
Annual accounts 20213,8 M €↓
2020
Annual accounts 20204,7 M €↓
2019
Annual accounts 20197,3 M €↑
2018
Annual accounts 20186,4 M €↑
2017
Annual accounts 20175,8 M €↑
2016
Annual accounts 20165,6 M €↑
2015
Annual accounts 20154 M €↑
2014
Annual accounts 20143,7 M €↑
2013
Annual accounts 20132,3 M €↓
2012
Annual accounts 20122,6 M €↑
2011
Annual accounts 20111,7 M €↑
2010
Annual accounts 20101,4 M €↓
2009
Annual accounts 20091,5 M €↓
2008
Annual accounts 20081,9 M €↑
2007
Annual accounts 20071,6 M €↑
2006
Annual accounts 20061,6 M €
14/04/1967
IncorporationPublic limited company

INDUCTOTHERM COATING EQUIPMENT

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

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