ACTIVE

Willis Towers Watson

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Financial year 2025 · Closed on 31/12/2025

Net result16,2 M €+13,3 %over 1 year
Revenue131,4 M €+3,9 %over 1 year
Equity106 M €0,0 %over 1 year
Workforce123,7 ETP+2,7 %over 1 year

Identity

Source · BCE/KBO

Willis Towers Watson is a Public limited company incorporated in 1975. Its main activity is: Activities of insurance agents and brokers. Its registered office is in Liège. It employs on average 123,7 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0415.981.926
Incorporation
30/12/1975
Legal form
Public limited company
Registered office
Quai des Vennes 18-20
4020 Liège · WallonieSee on map
Contributed capital
90 139 253,90 €
Latest accounts
31/12/2025
Average workforce
123,7 ETP
Joint committees (1)
  • 307
Signals
ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 20 financial years

20252024202320222021
Income statement
Revenue131,4 M €126,5 M €114 M €112,8 M €143,5 M €
EBITDA35,3 M €24,6 M €23 M €21,7 M €248,2 M €
Operating result24,2 M €13,5 M €11,8 M €10,6 M €230,2 M €
Net result16,2 M €14,3 M €9,2 M €8,3 M €189,2 M €
Balance sheet
Equity106 M €106 M €99,7 M €110,5 M €210,6 M €
Total assets915,2 M €929 M €725,6 M €633,5 M €892,1 M €
Cash305,5 M €159,8 M €120 M €104,8 M €123,8 M €
Debts805,8 M €820,2 M €623 M €520,1 M €677,9 M €
Other
Workforce123,7 ETP120,5 ETP116,2 ETP102,4 ETP103,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 250 M€ and 500 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

8 active · 72 ended

Active mandates

Nicholas James HARVEY

Director · since 30 janvier 2026 · until 19 juin 2026

Active
Hugo Antonius Martinus WEGBRANS

Director · since 12 mai 2025 · until 19 juin 2026

Active
Stefan WEDA

Managing director · since 29 septembre 2023 · until 19 juin 2026

Active
Anjana SHAH

Director · since 16 juin 2023 · until 30 janvier 2026

Active
Stefan WEDA

Director · since 16 juin 2023 · until 19 juin 2026

Active
Alastair SWIFT

Managing director · since 01 mars 2022 · until 19 juin 2026

Active
Alastair SWIFT

Director · since 01 octobre 2021 · until 19 juin 2026

Active
Anne PULLUM

Director · since 21 juin 2019 · until 20 mai 2025

Active

Ended mandates

Hugo Antonius Martinus WEGBRANS

Director · since 12 mai 2025 · until 20 juin 2025

Ended
Stefan WEDA

Managing director · since 29 septembre 2023

Ended
Anjana SHAH

Director · since 16 juin 2023 · until 20 juin 2025

Ended
Stefan WEDA

Director · since 16 juin 2023 · until 21 juin 2024

Ended

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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 date07/07/202609/07/202511/07/202406/07/202329/07/202227/07/2021
General meeting19/06/202620/06/202521/06/202416/06/202317/06/202218/06/2021
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, 20 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202519/06/202607/07/2026FrenchPDF
Full model31/12/202420/06/202509/07/2025FrenchPDF
Full model31/12/202321/06/202411/07/2024FrenchPDF
Full model31/12/202216/06/202306/07/2023FrenchPDF
Full model31/12/202117/06/202229/07/2022FrenchPDF
Full model31/12/202018/06/202127/07/2021FrenchPDF
Full model31/12/201919/06/202016/07/2020FrenchPDF
Full model31/12/201821/06/201911/07/2019FrenchPDF
Full model31/12/201715/06/201802/07/2018FrenchPDF
Full model31/12/201616/06/201710/07/2017FrenchPDF
Full model31/12/201517/06/201612/07/2016FrenchPDF
Full model31/12/201419/06/201510/07/2015FrenchPDF
Full model31/12/201320/06/201416/07/2014FrenchPDF
Full model31/12/201221/06/201312/07/2013FrenchPDF
Full model31/12/201115/06/201209/07/2012FrenchPDF
Full model31/12/201017/06/201107/07/2011FrenchPDF
Full model31/12/200918/06/201013/07/2010FrenchPDF
Full model31/12/200819/06/200906/07/2009FrenchPDF
Full model31/12/200720/06/200808/07/2008FrenchPDF
Full model31/12/200615/06/200711/07/2007FrenchPDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

8 active · 72 ended

Active mandates

Nicholas James HARVEY

Director · since 30 janvier 2026 · until 19 juin 2026

Active
Hugo Antonius Martinus WEGBRANS

Director · since 12 mai 2025 · until 19 juin 2026

Active
Stefan WEDA

Managing director · since 29 septembre 2023 · until 19 juin 2026

Active
Anjana SHAH

Director · since 16 juin 2023 · until 30 janvier 2026

Active
Stefan WEDA

Director · since 16 juin 2023 · until 19 juin 2026

Active
Alastair SWIFT

Managing director · since 01 mars 2022 · until 19 juin 2026

Active
Alastair SWIFT

Director · since 01 octobre 2021 · until 19 juin 2026

Active
Anne PULLUM

Director · since 21 juin 2019 · until 20 mai 2025

Active

Ended mandates

Hugo Antonius Martinus WEGBRANS

Director · since 12 mai 2025 · until 20 juin 2025

Ended
Stefan WEDA

Managing director · since 29 septembre 2023

Ended
Anjana SHAH

Director · since 16 juin 2023 · until 20 juin 2025

Ended
Stefan WEDA

Director · since 16 juin 2023 · until 21 juin 2024

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates29/07/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates28/05/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates25/03/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates07/11/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates07/11/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates29/08/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates07/08/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates27/10/2023
    DEMISSIONS, NOMINATIONS
    PDF

Similar companies

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

See the Business plan

Timeline

  1. 30/01/2026
    nominationNicholas James Harvey — administrateur
  2. 2025
    Annual accounts 202516,2 M €↑
  3. 20/06/2025
    reconductionDeloitte Réviseurs d'Entreprises SRL — commissaire
  4. 20/06/2025
    reconductionHugo WEGBRANS — administrateur
  5. 20/06/2025
    reconductionAlastair SWIFT — administrateur
  6. 20/06/2025
    reconductionAnjana SHAH — administrateur
  7. 20/06/2025
    reconductionStefan WEDA — administrateur
  8. 27/05/2025
    nominationHugo WEGBRANS — Président du conseil d'administration
  9. 12/05/2025
    nominationHugo Antonius Martinus Wegbrans — administrateur
  10. 2024
    Annual accounts 202414,3 M €↑
  11. 21/06/2024
    reconductionAnne PULLUM — administrateur
  12. 21/06/2024
    reconductionAlastair SWIFT — administrateur
  13. 21/06/2024
    reconductionAnjana SHAH — administrateur
  14. 21/06/2024
    reconductionStefan WEDA — administrateur
  15. 2023
    Annual accounts 20239,2 M €↑
  16. 29/09/2023
    nominationStefan WEDA — administrateur délégué
  17. 19/06/2023
    reconductionAlastair SWIFT — administrateur délégué
  18. 19/06/2023
    reconductionCatherine LESOURD — administrateur délégué
  19. 19/06/2023
    reconductionAnne PULLUM — Présidence du conseil d'administration
  20. 16/06/2023
    reconductionAnne PULLUM — administrateur
  21. 16/06/2023
    reconductionAlastair SWIFT — administrateur
  22. 16/06/2023
    reconductionCatherine LESOURD — administrateur
  23. 16/06/2023
    nominationTina SHAH — administrateur
  24. 16/06/2023
    nominationStefan WEDA — administrateur
  25. 2022
    Annual accounts 20228,3 M €↓
  26. 17/06/2022
    reconductionSCRL Deloitte Reviseurs d'Entreprises — Commissaire
  27. 17/06/2022
    reconductionAnne PULLUM — Administrateur
  28. 17/06/2022
    reconductionStuart EDWARDS-WEBB — Administrateur
  29. 17/06/2022
    reconductionAlastair SWIFT — Administrateur
  30. 17/06/2022
    reconductionCatherine LESOURD — Administrateur
  31. 17/06/2022
    reconductionCarlos JIMENEZ SORIANO — Administrateur
  32. 2021
    Annual accounts 2021189,2 M €↑
  33. 2020
    Annual accounts 20206,2 M €↑
  34. 2019
    Annual accounts 20192,4 M €↑
  35. 2018
    Annual accounts 20182,2 M €↑
  36. 2018
    Name changeWillis Towers Watson
  37. 2017
    Annual accounts 2017967,3 k €↑
  38. 2016
    Annual accounts 2016716,7 k €↓
  39. 2015
    Annual accounts 2015798,2 k €↓
  40. 2014
    Annual accounts 2014838 k €↑
  41. 2013
    Annual accounts 2013185,9 k €↑
  42. 2012
    Annual accounts 2012141,5 k €↑
  43. 2011
    Annual accounts 2011-1 M €↑
  44. 2010
    Annual accounts 2010-1,1 M €↓
  45. 2009
    Annual accounts 200972,4 k €↓
  46. 2008
    Annual accounts 2008343,9 k €↓
  47. 2007
    Annual accounts 2007361,9 k €↑
  48. 2006
    Annual accounts 2006327 k €
  49. 2006
    Name changeGRAS SAVOYE BELGIUM
  50. 30/12/1975
    IncorporationPublic limited company