ACTIVE

Jan De Nul

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Financial year 2025 · Closed on 31/12/2025

Net result11,5 M €-70,0 %over 1 year
Revenue1,7 Md €+3,1 %over 1 year
Equity1,4 Md €+0,9 %over 1 year
Workforce1 840,7 ETP+10,4 %over 1 year

Identity

Source · BCE/KBO

Jan De Nul is a Public limited company incorporated in 1938. Its main activity is: Construction of water projects. Its registered office is in Aalst. It employs on average 1 840,7 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0406.041.406
Incorporation
10/12/1938
Legal form
Public limited company
Registered office
Tragel 60
9308 Aalst · FlandreSee on map
Contributed capital
50 000 000,00 €
Latest accounts
31/12/2025
Average workforce
1 840,7 ETP
Joint committees (2)
  • 124
  • 200
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 21 filings

Trend over 9 financial years

20252024202320222021
Income statement
Revenue1,7 Md €1,7 Md €1,3 Md €1,4 Md €948 M €
EBITDA73 M €128,4 M €70 M €98,8 M €84,4 M €
Operating result20,9 M €33,6 M €-470,4 k €49,7 M €80,1 M €
Net result11,5 M €38,2 M €-12 M €16,5 M €28,2 M €
Balance sheet
Equity1,4 Md €1,4 Md €1,4 Md €1,4 Md €1,4 Md €
Total assets2,7 Md €2,3 Md €2,3 Md €2 Md €2,1 Md €
Cash163,5 M €157,8 M €172,2 M €68 M €79,8 M €
Debts1,1 Md €802,5 M €816,1 M €609,2 M €698,3 M €
Other
Workforce1 840,7 ETP1 667,4 ETP1 540,4 ETP1 407,4 ETP1 344,5 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 500 M€ and 1.000 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

6 active · 3 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
JDN1033.865.689Represented by Julie De Nul
Managing director09/02/2026 → 17/06/2030
DDN0786.345.346Represented by Dirk De Nul
Director23/05/2022 → 19/06/2028
JKN Consult1017.509.907Represented by Jan Neckebroeck
Director06/02/2025 → 17/06/2030
J.P.J. DE NUL
Chairman of the board of directors24/06/2024 → 17/06/2030Managing director25/06/2012 → 2022 accountsended
Julie De NUL
Managing director22/06/2023 → 17/06/2030Director25/06/2012 → 2022 accountsended
Paul LIEVENS
Director25/06/2012 → 17/06/2030

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Dirk De Nul
Director22/06/2018 → 2021 accounts
Frederik Deroo
Director22/06/2018 → 2021 accounts

Other companies at this address

Tragel 60 9308 Aalst
CompanyCBE no.
Aeternum● Active
0758.944.034
AIRCOPLUS● Active
0462.556.772
Alostum Invest● Active
0737.599.381
ASSM Envirowall● Active
0818.110.470
ASSM Envisan inernational-Jan de Nul-Envisan SA- DC Industrial● Active
0652.622.532
CORTORIA● Active
0893.434.930
Cuesmes Triage● Active
0750.483.654
DDN● Active
0786.345.346
De Lediaan● Active
0755.640.589
Denderoever● Active
0808.778.476
Denderoever Properties I● Active
0728.947.080
Denderoever Properties II● Active
0728.895.612
DOCK-SITE● Active
0400.042.549
Envisan● Active
0448.294.111
FLANDERS DREDGING CORPORATION● Active
0451.192.431
Full Throttle● Active
0790.270.876
Hortus Conclusus● Active
0774.334.073
HORTUS CONCLUSUS FACILITATOR● Active
0801.633.140
Jan De Nul Dredging● Active
0419.146.797
JAN DE NUL-EDE-SMET TUNNELING● Liquidation
0866.126.856

Full financial information

Source · NBB
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 date30/06/202630/06/202508/07/202429/06/202330/06/202202/07/2021
General meeting25/06/202623/06/202524/06/202422/06/202327/06/202221/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 21 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202525/06/202630/06/2026DutchPDF
Full model31/12/202423/06/202530/06/2025DutchPDF
Full model31/12/202324/06/202408/07/2024DutchPDF
Full model31/12/202222/06/202329/06/2023DutchPDF
Full model31/12/202127/06/202230/06/2022DutchPDF
Full model31/12/202021/06/202102/07/2021DutchPDF
Full model31/12/201924/06/202003/07/2020DutchPDF
Full model31/12/201825/06/201912/07/2019DutchPDF
Full model31/12/201722/06/201816/07/2018DutchPDF
Full model31/12/201623/06/201729/06/2017DutchPDF
Full model31/12/201529/06/201601/07/2016DutchPDF
Full model31/12/201430/06/201501/07/2015DutchPDF
Full modelCorrection31/12/201309/09/201417/09/2014DutchPDF
Full model31/12/201325/06/201427/06/2014DutchPDF
Full model31/12/201214/06/201318/06/2013DutchPDF
Full model31/12/201125/06/201226/06/2012DutchPDF
Full model31/12/201016/06/201123/06/2011DutchPDF
Full model31/12/200927/05/201011/06/2010DutchPDF
Full model31/12/200828/05/200917/06/2009DutchPDF
Full model31/12/200719/06/200824/06/2008DutchPDF
Full model31/12/200631/05/200711/07/2007DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 M€ and 1.000 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

6 active · 3 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
JDN1033.865.689Represented by Julie De Nul
Managing director09/02/2026 → 17/06/2030
DDN0786.345.346Represented by Dirk De Nul
Director23/05/2022 → 19/06/2028
JKN Consult1017.509.907Represented by Jan Neckebroeck
Director06/02/2025 → 17/06/2030
J.P.J. DE NUL
Chairman of the board of directors24/06/2024 → 17/06/2030Managing director25/06/2012 → 2022 accountsended
Julie De NUL
Managing director22/06/2023 → 17/06/2030Director25/06/2012 → 2022 accountsended
Paul LIEVENS
Director25/06/2012 → 17/06/2030

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Dirk De Nul
Director22/06/2018 → 2021 accounts
Frederik Deroo
Director22/06/2018 → 2021 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates20/07/2026
    Ontslag en benoeming van een bestuurder.
    PDF
  • Mandates02/03/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates15/10/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates22/07/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates09/04/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates05/03/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates24/07/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other26/02/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - ALGEMENE VERGADERING
    PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts
Year
Identity
Incorporation1938
Name
Registered office
Annual accounts
Filings9 filings
Mandates
JDN
DDN
JKN Consult
J.P.J. DE NUL
Paul LIEVENS
Julie De NUL
Dirk DE NUL
Frederik DEROO
Gery Vandewalle
19661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024202520262027202820292030
Jan De Nul
Tragel 60, 9308 Gijzegem
Managing director
Director
Director
Chairman of the board of directorsManaging director
Director
Managing directorDirector
Director
Director
Director
CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE
Registered addressPeriodSource
Tragel 60, 9308 GijzegemCurrent
accounts 2021 → 2025
Accounts 2025 · 2026-00259211

Company names

Source · NBB annual accounts, CBE
NamePeriodSource
Jan De NulCurrent
accounts 2017 → 2025
Accounts 2025 · 2026-00259211

Events

  1. 09/02/2026
    nominationJDN · bestuurder
  2. 09/02/2026
    nominationJDN · gedelegeerd bestuurder
  3. 2025
    Annual accounts 202511,5 M €↓
  4. 25/09/2025
    nominationDDN BV · bestuurder
  5. 23/06/2025
    nominationVeerle Catry · permanente vertegenwoordiger (commissaris)
  6. 06/02/2025
    nominationJKN Consult · bestuurder
  7. 2024
    Annual accounts 202438,2 M €↑
  8. 01/10/2024
    nominationVeerle Catry · wettelijke vertegenwoordiger van de commissaris
  9. 24/06/2024
    reconductionIr. J.P.J. De Nul · bestuurder
  10. 24/06/2024
    reconductionJulie De Nul · bestuurder
  11. 24/06/2024
    reconductionPaul Lievens · bestuurder
  12. 24/06/2024
    nominationIr. J.P.J. De Nul · gedelegeerd bestuurder
  13. 24/06/2024
    nominationJulie De Nul · gedelegeerd bestuurder
  14. 2023
    Annual accounts 2023-12 M €↓
  15. 22/06/2023
    nominationJulie De Nul · gedelegeerd bestuurder
  16. 2022
    Annual accounts 202216,5 M €↓
  17. 27/06/2022
    nominationDirk De Nul · bestuurder
  18. 27/06/2022
    nominationVeerle Catry · permanente vertegenwoordiger (commissaris)
  19. 27/06/2022
    nominationThomas Durieux · permanente vertegenwoordiger (commissaris)
  20. 23/05/2022
    nominationDDN BV · bestuurder
  21. 2021
    Annual accounts 202128,2 M €↑
  22. 2020
    Annual accounts 202025,3 M €↑
  23. 2019
    Annual accounts 201969,5 k €↓
  24. 2018
    Annual accounts 201850,7 M €↓
  25. 2017
    Annual accounts 201761,6 M €
  26. 10/12/1938
    IncorporationPublic limited company