ACTIVE

SWECO

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Financial year 2025 · closed on 31/12/2025
Net result
32,8 M €
+57.3% YoY
Revenue
315,2 M €
+7.6% YoY
Equity
73,8 M €
+3.3% YoY
Workforce
1 951,9 ETP
+17.3% YoY

What does SWECO do?

SWECO is a Private limited company incorporated in 1965. Its main activity is: Engineering activities and related technical consultancy. Its registered office is in Bruxelles. It employs on average 1 951,9 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0405.647.664
Incorporation
22/12/1965
Legal form
Private limited company
Registered office
Rue d'Arenberg 11
1000 Bruxelles · BruxellesSee on map
Contributed capital
40 123 541,64 €
Latest accounts
31/12/2025
Average workforce
1 951,9 ETP
Activities (NACE)
71121Engineering activities and related technical consultancy· main71121Engineering activities and related technical consultancy73200Market research and public opinion polling73200Market research and public opinion polling74131Specialised design activities74203Photographic activities
Joint committees (2)
  • 200
  • 218
Contacts
2 public details availableLog in to view
Signals
ProfitableLow riskGood 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 18 financial years

202520242023202220212020201920182017201620152014201320112010200920082007
Income statement
Revenue315,2 M €292,9 M €262,1 M €192,5 M €174,6 M €137,8 M €127,6 M €111,7 M €85,1 M €83,7 M €109,3 M €88,1 M €52,8 M €12,6 M €18,3 M €20,4 M €18,8 M €14 M €
EBITDA51,8 M €43,4 M €31,4 M €23,5 M €23,3 M €15,7 M €15,2 M €7,9 M €6,8 M €5,5 M €11,6 M €10,8 M €7,8 M €5,5 M €4,6 M €4,7 M €4,1 M €5,7 M €
Operating result37 M €38,7 M €30,5 M €20,8 M €22,6 M €15,1 M €14 M €6,2 M €6 M €4,7 M €2,7 M €3,4 M €3 M €1,9 M €2,7 M €2,8 M €2,6 M €2,9 M €
Net result32,8 M €20,9 M €1,6 M €9,7 M €5,8 M €9,7 M €9,3 M €2,6 M €3,6 M €2,8 M €1,5 M €2 M €1,7 M €768,1 k €2,2 M €3 M €3 M €3,1 M €
Balance sheet
Equity73,8 M €71,4 M €51 M €49,9 M €40,2 M €40,7 M €40,6 M €40,1 M €43 M €33,5 M €30,7 M €29,2 M €27,2 M €13,8 M €15,2 M €16,5 M €13,4 M €10,4 M €
Total assets286,7 M €311,5 M €287 M €124,8 M €105,9 M €92,8 M €77,9 M €73,1 M €68,3 M €52,1 M €51,2 M €50,3 M €45,9 M €25,9 M €24,7 M €26,7 M €20,3 M €18,9 M €
Cash54,6 M €51,8 M €25,2 M €12,4 M €31,2 M €28,7 M €39,2 M €34 M €20,7 M €13,5 M €17,1 M €16,2 M €12,8 M €1,1 M €2,6 M €1,8 M €2,2 M €3,4 M €
Debts207,5 M €235,4 M €231,4 M €70,9 M €63,5 M €50,4 M €35,6 M €31,5 M €24,5 M €17,7 M €19 M €20 M €17,3 M €10,1 M €7,3 M €7,6 M €4,7 M €6,6 M €
Other
Workforce1 951,9 ETP1 664,1 ETP1 493,4 ETP1 340,8 ETP1 214,7 ETP1 014,8 ETP882,9 ETP803,5 ETP677,3 ETP599,6 ETP606,2 ETP621,4 ETP609,8 ETP337,6 ETP304,2 ETP308,3 ETP278,7 ETP250,7 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 250 M€ and 500 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 32 ended

Active mandates

Erwin Malcorps

Managing director · since 22 avril 2020

Active
Sweco Holdco BV

Director · since 22 avril 2020

Represented by Åsa Bergman

Active

Ended mandates

Erwin Malcorps

Managing director · since 26 avril 2019 · until 27 avril 2022

Ended
Erwin Malcorps

Managing director · since 26 avril 2019

Ended
Grontmij Participations BV

Director · since 26 avril 2019 · until 31 mars 2020

Represented by Sander van der Meer

Ended
Grontmij Participations BV

Director · since 26 avril 2019 · until 27 avril 2022

Represented by Sander van der Meer

Ended
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Annual accounts

Full financial information

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 date27/04/202621/05/202524/06/202421/08/202313/05/202220/05/2021
General meeting22/04/202623/04/202520/06/202426/04/202327/04/202226/04/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

34 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202522/04/202627/04/2026DutchPDF
Full model31/12/202522/04/202627/04/2026FrenchPDF
m121-f-p31/12/202522/04/202612/05/2026DutchPDF
Full model31/12/202423/04/202521/05/2025DutchPDF
Full model31/12/202423/04/202521/05/2025FrenchPDF
m121-f-p31/12/202429/04/202522/05/2025DutchPDF
Full model31/12/202320/06/202424/06/2024DutchPDF
Full model31/12/202320/06/202424/06/2024FrenchPDF
m121-f-p31/12/202319/04/202424/06/2024DutchPDF
Full modelCorrection31/12/202226/04/202321/08/2023DutchPDF
Full modelCorrection31/12/202226/04/202321/08/2023FrenchPDF
Full model31/12/202226/04/202322/05/2023FrenchPDF
Full model31/12/202226/04/202315/05/2023DutchPDF
m121-f-p31/12/202220/04/202317/05/2023DutchPDF
Full model31/12/202127/04/202213/05/2022FrenchPDF
Full model31/12/202127/04/202213/05/2022DutchPDF
Full model31/12/202026/04/202120/05/2021FrenchPDF
Full model31/12/202026/04/202120/05/2021DutchPDF
Full model31/12/201929/04/202015/05/2020FrenchPDF
Full model31/12/201929/04/202015/05/2020DutchPDF
Full model31/12/201826/04/201927/06/2019FrenchPDF
Full model31/12/201826/04/201913/05/2019DutchPDF
Full model31/12/201729/06/201829/06/2018DutchPDF
Full model31/12/201626/04/201716/05/2017DutchPDF

View all 34 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 M€ and 500 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 · 2 active · 32 ended

Active mandates

Erwin Malcorps

Managing director · since 22 avril 2020

Active
Sweco Holdco BV

Director · since 22 avril 2020

Represented by Åsa Bergman

Active

Ended mandates

Erwin Malcorps

Managing director · since 26 avril 2019 · until 27 avril 2022

Ended
Erwin Malcorps

Managing director · since 26 avril 2019

Ended
Grontmij Participations BV

Director · since 26 avril 2019 · until 31 mars 2020

Represented by Sander van der Meer

Ended
Grontmij Participations BV

Director · since 26 avril 2019 · until 27 avril 2022

Represented by Sander van der Meer

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates02/04/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates02/04/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Restructuring05/08/2025
    CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Restructuring05/08/2025
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Restructuring21/05/2025
    RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Restructuring21/05/2025
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Mandates21/05/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates21/05/2025
    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

Timeline

  1. 02/04/2026
    nominationKurt Van Leirsberghe — mandataire spécial
  2. 01/01/2026
    nominationErwin Malcorps — Gedelegeerd bestuurder
  3. 01/01/2026
    nominationErwin Malcorps — Administrateur Délégué
  4. 01/01/2026
    nominationVicky De Bollen — Director Finance, Marketing Communication, Facility & Legal
  5. 01/01/2026
    nominationJochen Ghyssels — HR Director
  6. 01/01/2026
    nominationTom Van Den Noortgaete — Director Division Climate, Energy & Environment
  7. 01/01/2026
    nominationBart Van de Sype — Director Division Infrastructure
  8. 2025
    Annual accounts 202532,8 M €↑
  9. 01/07/2025
    autre
  10. 21/01/2025
    nominationErwin Malcorps — Gedelegeerd bestuurder
  11. 21/01/2025
    nominationErwin Malcorps — Administrateur Délégué
  12. 21/01/2025
    nominationVicky De Bollen — Director Finance, Marketing Communication, Facility & Legal
  13. 21/01/2025
    nominationJochen Ghyssels — HR Director
  14. 21/01/2025
    nominationPeter Vanhoegaerden — Director Division Buildings
  15. 21/01/2025
    nominationTom Van Den Noortgaete — Director Division Climate, Energy & Environment
  16. 21/01/2025
    nominationBart Van de Sype — Director Division Infrastructure
  17. 21/01/2025
    nominationDiederik Van Der Linden — Director Division Industry-Pharma
  18. 01/01/2025
    apport
  19. 01/01/2025
    split
  20. 2024
    Annual accounts 202420,9 M €↑
  21. 14/11/2024
    reconductionErwin Malcorps — gedelegeerd bestuurder
  22. 04/07/2024
    autre
  23. 01/07/2024
    autre
  24. 20/06/2024
    reconductionAsa Bergman — Présidente du Conseil d'Administration
  25. 20/06/2024
    reconductionErwin Malcorps — administrateur délégué
  26. 22/01/2024
    nominationErwin Malcorps — Administrateur délégué
  27. 22/01/2024
    nominationErwin Malcorps — Gedelegeerd bestuurder
  28. 22/01/2024
    nominationVicky De Bollen — Director HR, Finance, Facility & Legal
  29. 22/01/2024
    nominationTom Van Den Noortgaete — Director Division Energy & Environment
  30. 22/01/2024
    nominationBart Van de Sype — Director Division Regional Infrastructure
  31. 22/01/2024
    nominationFilip Verheyen — Director Division Industry
  32. 2024
    Name changeSWECO
  33. 2023
    Annual accounts 20231,6 M €↓
  34. 16/10/2023
    nominationErwin Malcorps — gedelegeerd bestuurder
  35. 30/03/2023
    autre
  36. 13/01/2023
    split
  37. 01/01/2023
    autre
  38. 2022
    Annual accounts 20229,7 M €↑
  39. 2021
    Annual accounts 20215,8 M €↓
  40. 2021
    Name changeSWECO BELGIUM
  41. 2020
    Annual accounts 20209,7 M €↑
  42. 2019
    Annual accounts 20199,3 M €↑
  43. 2018
    Annual accounts 20182,6 M €↓
  44. 2017
    Annual accounts 20173,6 M €↑
  45. 2016
    Annual accounts 20162,8 M €↑
  46. 2015
    Annual accounts 20151,5 M €↓
  47. 2014
    Annual accounts 20142 M €↑
  48. 2013
    Annual accounts 20131,7 M €↑
  49. 2011
    Annual accounts 2011768,1 k €↓
  50. 2011
    Name changeGRONTMIJ BELGIUM
  51. 2010
    Annual accounts 20102,2 M €↓
  52. 2009
    Annual accounts 20093 M €↑
  53. 2008
    Annual accounts 20083 M €↓
  54. 2007
    Annual accounts 20073,1 M €
  55. 22/12/1965
    IncorporationPrivate limited company