ACTIVE

WILLEMEN INFRA

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Financial year 2025 · closed on 31/12/2025

Net result

5,8 M €

-5.4% YoY

Revenue

284,1 M €

-12.4% YoY

Equity

87 M €

-0.2% YoY

Workforce

861,7 ETP

-1.4% YoY

What does WILLEMEN INFRA do?

WILLEMEN INFRA is a Public limited company incorporated in 1949. Its main activity is: Construction of roads and motorways. Its registered office is in Gent. It employs on average 861,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0405.092.190

Incorporation

08/06/1949

Legal form

Public limited company

Registered office

Booiebos 4
9031 Gent · FlandreSee on map

Contributed capital

10 528 636,17 €

Latest accounts

31/12/2025

Average workforce

861,7 ETP

Activities (NACE)

42110Construction of roads and motorways· main 42110Construction of roads and motorways 45230Maintenance and repair of motor vehicles

Joint committees (3)

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	284,1 M €	-12.4%	324,5 M €	-3.4%	336 M €	+7.8%	311,6 M €	+16.2%	268,3 M €	+11.2%	241,2 M €	+84.4%	130,8 M €	+17.7%	111,2 M €	+10.1%	101 M €	-12.6%	115,6 M €	-8.5%	126,3 M €	-8.7%	138,3 M €	+19.5%	115,8 M €	+26.1%	91,8 M €	+7.1%	85,7 M €	-9.0%	94,1 M €	+15.6%	81,4 M €
EBITDA	13,9 M €	+1.6%	13,6 M €	+12.5%	12,1 M €	+19.3%	10,2 M €	+97.2%	5,2 M €	-3.1%	5,3 M €	-24.9%	7,1 M €	+256%	2 M €	-38.8%	3,3 M €	-56.5%	7,5 M €	+8.7%	6,9 M €	-9.7%	7,6 M €	-6.6%	8,2 M €	+103%	4 M €	-26.6%	5,5 M €	+5.7%	5,2 M €	+75.6%	3 M €
Operating result	10 M €	-4.0%	10,5 M €	+32.8%	7,9 M €	+36.4%	5,8 M €	+400%	1,2 M €	+29.7%	890 k €	-81.8%	4,9 M €	+1970%	236,2 k €	-88.4%	2 M €	-66.8%	6,1 M €	+21.4%	5 M €	-5.8%	5,4 M €	-1.1%	5,4 M €	+191%	1,9 M €	-33.9%	2,8 M €	-13.2%	3,2 M €	+505%	536,3 k €
Net result	5,8 M €	-5.4%	6,1 M €	+31.6%	4,6 M €	+46.1%	3,2 M €	+334%	728,9 k €	+156%	-1,3 M €	-110%	13,4 M €	+3509%	-392,7 k €	-122%	1,8 M €	-72.5%	6,6 M €	-15.4%	7,8 M €	+113%	3,7 M €	-77.8%	16,5 M €	+199%	5,5 M €	+133%	2,4 M €	-40.0%	4 M €	+68.7%	2,3 M €
Balance sheet
Equity	87 M €	-0.2%	87,2 M €	+31.0%	66,6 M €	+3.3%	64,4 M €	+1.0%	63,8 M €	+0.8%	63,3 M €	+79.7%	35,2 M €	+17.3%	30 M €	-1.3%	30,4 M €	+6.4%	28,6 M €	+30.2%	21,9 M €	+3.1%	21,3 M €	-64.4%	59,8 M €	-3.3%	61,9 M €	+9.8%	56,3 M €	+3.8%	54,3 M €	+7.2%	50,7 M €
Total assets	251,5 M €	-0.5%	252,9 M €	+7.2%	235,8 M €	+9.9%	214,6 M €	+12.8%	190,2 M €	+13.9%	167 M €	+77.7%	94 M €	+7.4%	87,6 M €	-6.0%	93,2 M €	+39.8%	66,7 M €	-16.6%	80 M €	-8.4%	87,3 M €	-28.7%	122,5 M €	+49.8%	81,7 M €	+4.5%	78,2 M €	-0.4%	78,5 M €	+15.6%	68 M €
Cash	23,9 M €	+48.9%	16,1 M €	+109%	7,7 M €	-42.1%	13,3 M €	+192%	4,5 M €	-46.7%	8,5 M €	+1744%	462,5 k €	-75.1%	1,9 M €	+257%	521,1 k €	-80.0%	2,6 M €	-76.9%	11,2 M €	+55.4%	7,2 M €	+118%	3,3 M €	-76.0%	13,8 M €	+12.4%	12,3 M €	+239%	3,6 M €	-3.0%	3,7 M €
Debts	154,5 M €	-0.7%	155,6 M €	-2.6%	159,7 M €	+13.4%	140,8 M €	+20.3%	117,1 M €	+25.2%	93,5 M €	+68.8%	55,4 M €	+2.3%	54,1 M €	-8.3%	59 M €	+73.0%	34,1 M €	-36.4%	53,6 M €	-17.4%	64,9 M €	+5.3%	61,7 M €	+261%	17,1 M €	-10.7%	19,1 M €	-9.1%	21 M €	+36.4%	15,4 M €
Other
Workforce	861,7 ETP	-1.4%	873,8 ETP	-3.2%	902,3 ETP	+1.2%	892,0 ETP	+2.1%	873,9 ETP	-4.4%	914,2 ETP	+92.5%	474,8 ETP	+4.4%	454,9 ETP	+5.3%	431,8 ETP	-2.0%	440,8 ETP	-7.9%	478,4 ETP	+3.3%	463,0 ETP	+4.6%	442,6 ETP	-1.7%	450,2 ETP	-6.0%	478,8 ETP	-2.0%	488,8 ETP	-5.5%	517,5 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 · 61 ended

Active mandates

Johan Willemen

Director · since 30 juin 2023 · until 29 mai 2029

Active

MaNaJo Beheer

Managing director · since 30 juin 2023 · until 29 mai 2029 · 0697.993.984

Represented by Marc Jonckheere

Active

Sidharta Consulting

Director · since 30 juin 2023 · until 29 mai 2029 · 0717.630.150

Represented by Django Liénart

Active

Tom Willemen

Managing director · since 30 juin 2023 · until 29 mai 2029

Active

Ended mandates

MaNaJo Beheer

Managing director · since 25 novembre 2022 · until 28 mai 2024 · 0697.993.984

Represented by Marc Jonckheere

Ended

WILLEMEN GROEP

Managing director · since 01 juillet 2021 · until 20 mai 2024 · 0466.256.432

Ended

WILLEMEN GROEP

Managing director · since 01 juillet 2021 · until 28 mai 2024 · 0466.256.432

Represented by Tom Willemen

Ended

Eric Stroobants

Director · since 01 juin 2021 · until 20 mai 2024

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	09/07/2026	24/06/2025	15/07/2024	12/07/2023	11/07/2022	28/06/2021
General meeting	26/06/2026	13/06/2025	25/06/2024	30/06/2023	07/07/2022	01/06/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

27 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/06/2026	09/07/2026	Dutch	PDF
Full model	31/12/2024	13/06/2025	24/06/2025	Dutch	PDF
Full model	31/12/2023	25/06/2024	15/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	12/07/2023	Dutch	PDF
Full model	31/12/2021	07/07/2022	11/07/2022	Dutch	PDF
Full modelCorrection	31/12/2020	01/06/2021	28/06/2021	Dutch	PDF
Full model	31/12/2020	01/06/2021	17/06/2021	Dutch	PDF
Full model	31/12/2019	24/04/2020	30/04/2020	Dutch	PDF
Full model	31/12/2018	04/07/2019	31/07/2019	Dutch	PDF
Full model	31/12/2017	29/05/2018	19/06/2018	Dutch	PDF
Full model	31/12/2016	30/05/2017	03/07/2017	Dutch	PDF
Full model	31/12/2015	31/05/2016	01/07/2016	Dutch	PDF
Full model	31/12/2014	26/05/2015	16/06/2015	Dutch	PDF
Full model	31/12/2013	27/05/2014	30/06/2014	Dutch	PDF
Full modelCorrection	31/12/2012	06/05/2013	26/03/2014	Dutch	PDF
Full model	31/12/2012	06/05/2013	02/07/2013	Dutch	PDF
Full model	31/12/2011	08/05/2012	06/06/2012	Dutch	PDF
Full model	31/12/2010	29/03/2011	26/04/2011	Dutch	PDF
Consolidated accounts	31/12/2010	29/03/2011	27/04/2011	Dutch	PDF
Full model	31/12/2009	30/03/2010	31/03/2010	Dutch	PDF
Consolidated accounts	31/12/2009	30/03/2010	31/03/2010	Dutch	PDF
Full model	31/12/2008	31/03/2009	22/04/2009	Dutch	PDF
Consolidated accounts	31/12/2008	31/03/2009	22/04/2009	Dutch	PDF
Full model	31/12/2007	25/03/2008	15/04/2008	Dutch	PDF

View all 27 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 · 61 ended

Active mandates

Johan Willemen

Director · since 30 juin 2023 · until 29 mai 2029

Active

MaNaJo Beheer

Managing director · since 30 juin 2023 · until 29 mai 2029 · 0697.993.984

Represented by Marc Jonckheere

Active

Sidharta Consulting

Director · since 30 juin 2023 · until 29 mai 2029 · 0717.630.150

Represented by Django Liénart

Active

Tom Willemen

Managing director · since 30 juin 2023 · until 29 mai 2029

Active

Ended mandates

MaNaJo Beheer

Managing director · since 25 novembre 2022 · until 28 mai 2024 · 0697.993.984

Represented by Marc Jonckheere

Ended

WILLEMEN GROEP

Managing director · since 01 juillet 2021 · until 20 mai 2024 · 0466.256.432

Ended

WILLEMEN GROEP

Managing director · since 01 juillet 2021 · until 28 mai 2024 · 0466.256.432

Represented by Tom Willemen

Ended

Eric Stroobants

Director · since 01 juin 2021 · until 20 mai 2024

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates04/09/2026
HERBENOEMING COMMISSARIS
PDF
Mandates05/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/01/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/05/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other25/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates16/08/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/02/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/09/2022
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

01/06/2026
nominationTom Willemen — Gedelegeerd Bestuurder
01/06/2026
nominationMarc Jonckheere — Gedelegeerd Bestuurder
01/06/2026
nominationJoris De Kesel — Algemeen Directeur
01/06/2026
nominationWim Van Leeuwen — Regiodirecteur zetel West
01/06/2026
nominationBjörn Audenaert — Regiodirecteur zetel Noord
01/06/2026
nominationKevin Krikilion — Regiodirecteur zetel Zuid-Oost
01/06/2026
nominationBert Van Quekelberghe — Directeur Bedrijfsbureau & PPS
01/06/2026
nominationNathalie Strynckx — HR Directeur Groep
01/06/2026
nominationDirk Herman — Senior HR Business Partner
01/06/2026
nominationMarijke Verlaek — Directeur Legal, Insurance & Fleet Groep
01/06/2026
nominationRudi De Winter — Financieel Directeur
2025
Annual accounts 20255,8 M €↓
06/01/2025
nominationTom Willemen — Gedelegeerd Bestuurder
06/01/2025
nominationMarc Jonckheere — Gedelegeerd Bestuurder
06/01/2025
nominationJoris De Kesel — Algemeen Directeur
06/01/2025
nominationMarc Verlee — Regiodirecteur zetel West
06/01/2025
nominationBjörn Audenaert — Regiodirecteur zetel Noord
06/01/2025
nominationKevin Krikilion — Regiadirecteur zetel Zuid-Oost
06/01/2025
nominationBert Van Quekelberghe — Directeur Bedrijfsbureau & PPS
06/01/2025
nominationNathalie Strynckx — HR Directeur Groep
06/01/2025
nominationDirk Herman — Senior HR Business Partner
2024
Annual accounts 20246,1 M €↑
2023
Annual accounts 20234,6 M €↑
30/06/2023
nominationTom Willemen — bestuurder
30/06/2023
nominationMaNaJo Beheer CommV — bestuurder
30/06/2023
nominationJohan Willemen — bestuurder
30/06/2023
nominationSidharta Consulting bv — bestuurder
30/06/2023
reconductionEY Bedrijfsrevisoren — commissaris
2022
Annual accounts 20223,2 M €↑
25/11/2022
nominationComm. V, MaNaJo Beheer — bestuurder
25/11/2022
nominationComm. V. MaNaJo Beheer — bijkomend Gedelegeerd Bestuurder/CEO
25/11/2022
nominationJoris De Kesel — Algemeen Directeur
13/06/2022
nominationMarc Jonckheere — algemeen directeur
2021
Annual accounts 2021728,9 k €↑
2020
Annual accounts 2020-1,3 M €↓
2020
Name changeWILLEMEN INFRA
2017
Annual accounts 201713,4 M €↑
2016
Annual accounts 2016-392,7 k €↓
2015
Annual accounts 20151,8 M €↓
2014
Annual accounts 20146,6 M €↓
2013
Annual accounts 20137,8 M €↑
2012
Annual accounts 20123,7 M €↓
2011
Annual accounts 201116,5 M €↑
2010
Annual accounts 20105,5 M €↑
2009
Annual accounts 20092,4 M €↓
2008
Annual accounts 20084 M €↑
2007
Annual accounts 20072,3 M €
2007
Name changeAsfalt-, Wegenis- en Bouwwerken
08/06/1949
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

WILLEMEN INFRA

Overview

What does WILLEMEN INFRA do?

Trend over 17 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

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