ACTIVE

Jan De Nul

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Financial year 2024 · closed on 31/12/2024
Net result
38,2 M €
+417.8% YoY
Revenue
1,7 Md €
+30.1% YoY
Equity
1,4 Md €
+2.8% YoY
Workforce
1 667,4 ETP
+8.2% YoY

What does Jan De Nul do?

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 1 667,4 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
31/12/2024
Average workforce
1 667,4 ETP
Activities (NACE)
42911Construction of water projects· main42911Construction of water projects42919Construction of water projects42919Construction of water projects45230Maintenance and repair of motor vehicles42110Construction of roads and motorways+6
Joint committees (2)
  • 124
  • 200
Signals
ProfitableSolid equityLow 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 8 financial years

20242023202220212020201920182017
Income statement
Revenue1,7 Md €1,3 Md €1,4 Md €948 M €1,2 Md €1,3 Md €809,7 M €813,7 M €
EBITDA128,4 M €70 M €98,8 M €84,4 M €39,5 M €40 M €29,6 M €90,9 M €
Operating result33,6 M €-470,4 k €49,7 M €80,1 M €-3 M €68,2 M €-1,2 M €66,3 M €
Net result38,2 M €-12 M €16,5 M €28,2 M €25,3 M €69,5 k €50,7 M €61,6 M €
Balance sheet
Equity1,4 Md €1,4 Md €1,4 Md €1,4 Md €1,3 Md €1,3 Md €1,3 Md €1,3 Md €
Total assets2,3 Md €2,3 Md €2 Md €2,1 Md €2 Md €2,1 Md €2 Md €1,8 Md €
Cash157,8 M €172,2 M €68 M €79,8 M €69,8 M €77,5 M €57,9 M €75,7 M €
Debts802,5 M €816,1 M €609,2 M €698,3 M €575,4 M €794,5 M €594,1 M €334,2 M €
Other
Workforce1 667,4 ETP1 540,4 ETP1 407,4 ETP1 344,5 ETP1 350,7 ETP1 369,1 ETP1 298,2 ETP1 247,5 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 500 M€ and 1.000 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2024 · 5 active · 18 ended

Active mandates

JKN Consult

Director · since 06 février 2025 · until 17 juin 2030 · 1017.509.907

Represented by Jan Neckebroeck

Active
DDN

Director · since 24 juin 2024 · until 14 mars 2025 · 0786.345.346

Represented by Dirk De Nul

Active
J.P.J. DE NUL

Chairman of the board of directors · since 24 juin 2024 · until 17 juin 2030

Active
Julie De NUL

Managing director · since 24 juin 2024 · until 17 juin 2030

Active
Paul LIEVENS

Director · since 24 juin 2024 · until 17 juin 2030

Active

Ended mandates

Julie De NUL

Managing director · since 22 juin 2023 · until 24 juin 2024

Ended
DDN

Director · since 23 mai 2022 · until 30 mai 2024 · 0786.345.346

Represented by Dirk De Nul

Ended
DDN

Director · since 23 mai 2022 · until 24 juin 2024 · 0786.345.346

Represented by Dirk De Nul

Ended
Deroo Frederik

Director · since 22 juin 2018 · until 30 mai 2024

Ended
At this address

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Annual accounts

Full financial information

202420232022202120202019
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202401/01/202301/01/202201/01/202101/01/202001/01/2019
Closing of the financial year31/12/202431/12/202331/12/202231/12/202131/12/202031/12/2019
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date30/06/202508/07/202429/06/202330/06/202202/07/202103/07/2020
General meeting23/06/202524/06/202422/06/202327/06/202221/06/202124/06/2020
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

20 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
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
Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2024 · 5 active · 18 ended

Active mandates

JKN Consult

Director · since 06 février 2025 · until 17 juin 2030 · 1017.509.907

Represented by Jan Neckebroeck

Active
DDN

Director · since 24 juin 2024 · until 14 mars 2025 · 0786.345.346

Represented by Dirk De Nul

Active
J.P.J. DE NUL

Chairman of the board of directors · since 24 juin 2024 · until 17 juin 2030

Active
Julie De NUL

Managing director · since 24 juin 2024 · until 17 juin 2030

Active
Paul LIEVENS

Director · since 24 juin 2024 · until 17 juin 2030

Active

Ended mandates

Julie De NUL

Managing director · since 22 juin 2023 · until 24 juin 2024

Ended
DDN

Director · since 23 mai 2022 · until 30 mai 2024 · 0786.345.346

Represented by Dirk De Nul

Ended
DDN

Director · since 23 mai 2022 · until 24 juin 2024 · 0786.345.346

Represented by Dirk De Nul

Ended
Deroo Frederik

Director · since 22 juin 2018 · until 30 mai 2024

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • 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
  • Mandates28/07/2023
    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. 09/02/2026
    nominationJDN — bestuurder
  2. 09/02/2026
    nominationJDN — gedelegeerd bestuurder
  3. 25/09/2025
    nominationDDN BV — bestuurder
  4. 23/06/2025
    nominationVeerle Catry — permanente vertegenwoordiger (commissaris)
  5. 06/02/2025
    nominationJKN Consult — bestuurder
  6. 2024
    Annual accounts 202438,2 M €↑
  7. 01/10/2024
    nominationVeerle Catry — wettelijke vertegenwoordiger van de commissaris
  8. 24/06/2024
    reconductionIr. J.P.J. De Nul — bestuurder
  9. 24/06/2024
    reconductionJulie De Nul — bestuurder
  10. 24/06/2024
    reconductionPaul Lievens — bestuurder
  11. 24/06/2024
    nominationIr. J.P.J. De Nul — gedelegeerd bestuurder
  12. 24/06/2024
    nominationJulie De Nul — gedelegeerd bestuurder
  13. 2023
    Annual accounts 2023-12 M €↓
  14. 22/06/2023
    nominationJulie De Nul — gedelegeerd bestuurder
  15. 2022
    Annual accounts 202216,5 M €↓
  16. 27/06/2022
    nominationDirk De Nul — bestuurder
  17. 27/06/2022
    nominationVeerle Catry — permanente vertegenwoordiger (commissaris)
  18. 27/06/2022
    nominationThomas Durieux — permanente vertegenwoordiger (commissaris)
  19. 23/05/2022
    nominationDDN BV — bestuurder
  20. 2021
    Annual accounts 202128,2 M €↑
  21. 2020
    Annual accounts 202025,3 M €↑
  22. 2019
    Annual accounts 201969,5 k €↓
  23. 2018
    Annual accounts 201850,7 M €↓
  24. 2017
    Annual accounts 201761,6 M €
  25. 10/12/1938
    IncorporationPublic limited company