ACTIVE

Royal Golf Club des Fagnes

Financial year 2025 · Closed on 31/12/2025

Net result108,2 k €-21,7 %over 1 year

Gross margin1,1 M €+13,4 %over 1 year

Equity688,7 k €+18,5 %over 1 year

Identity

Source · BCE/KBO

Royal Golf Club des Fagnes is a Non-profit organization incorporated in 1981. Its main activity is: Gambling and betting activities. Its registered office is in Spa.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0421.461.238
Incorporation: 16/01/1981
Legal form: Non-profit organization
Registered office: Chemin du Golf 1
4900 Spa · WallonieSee on map
Latest accounts: 31/12/2025

Activities (NACE)

92613Gambling and betting activities· main 93110Operation of sports facilities 93110Operation of sports facilities 68203Rental and operating of own or leased real estate 68203Rental and operating of own or leased real estate

Joint committees (4)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 20 filings

Trend over 19 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	1,1 M €	+13.4%	945,8 k €	+9.8%	861,4 k €	+3.2%	834,4 k €	+2.4%	814,9 k €
EBITDA	309,6 k €	+1.3%	305,6 k €	+16.7%	261,8 k €	+21.3%	215,8 k €	-18.5%	264,8 k €
Operating result	113,7 k €	-19.5%	141,1 k €	+52.9%	92,3 k €	+455%	16,6 k €	-69.4%	54,3 k €
Net result	108,2 k €	-21.7%	138,1 k €	+63.2%	84,7 k €	+642%	11,4 k €	-77.0%	49,6 k €
Balance sheet
Equity	688,7 k €	+18.5%	581,4 k €	+31.4%	442,4 k €	+23.7%	357,8 k €	+3.3%	346,4 k €
Total assets	1,5 M €	+8.1%	1,4 M €	+26.3%	1,1 M €	+55.3%	699,5 k €	-22.0%	897,1 k €
Cash	421 k €	+23.7%	340,4 k €	-35.2%	525,4 k €	+94.4%	270,3 k €	-43.6%	479,1 k €
Debts	132,7 k €	-21.1%	168,1 k €	-23.8%	220,6 k €	+27.5%	173,1 k €	-10.3%	192,9 k €
Other
Workforce	–		11,1 ETP	+1.8%	10,9 ETP	+2.8%	10,6 ETP	-2.8%	10,9 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

9 active · 37 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Benoit PIRON	Director07/01/2024 → 07/02/2028
Dany DELETTRE	Director07/01/2024 → 07/02/2028
Didier DUKERTS	Director08/01/2020 → 07/02/2028
Jean-Pierre LITT	Director07/02/2024 → 07/02/2028
Laurent VERVIER	Director07/02/2024 → 07/02/2028
Marc OSSENA CANTARA	Director07/02/2024 → 07/02/2028
Marie-Paule PECHER	Director08/01/2020 → 07/02/2028
Philippe BOUCHAT	Director08/04/2011 → 07/02/2028
Pierre WEERTS	Director07/02/2024 → 07/02/2028Chairman of the board of directors07/01/2024 → 08/01/2028ended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Charlotte STEVENS	Director07/01/2024 → 08/01/2028
Marco OSSENA-CANTARA	Director07/01/2024 → 08/01/2028
Christine FONSNY	Director08/01/2020 → 08/01/2024
Daniel IMMEL	Director08/01/2020 → 08/01/2024

Other companies at this address

Chemin du Golf 1 4900 Spa

Company	CBE no.
Golf Club des Fagnes à Spa● Active	0402.277.905
Proshop Europe● Active	0696.586.296

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	25/08/2026	22/09/2025	12/09/2024	05/10/2023	26/08/2022	21/09/2021
General meeting	10/04/2026	24/04/2025	07/02/2024	26/06/2023	20/04/2022	02/08/2021
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

Financial ratios

Source · NBB

Looking for more information about this company?

Try for free

Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	10/04/2026	25/08/2026	French	PDF
Abridged model	31/12/2024	24/04/2025	22/09/2025	French	PDF
Abridged model	31/12/2023	07/02/2024	12/09/2024	French	PDF
Abridged model	31/12/2022	26/06/2023	05/10/2023	French	PDF
Abridged model	31/12/2021	20/04/2022	26/08/2022	French	PDF
Abridged model	31/12/2020	02/08/2021	21/09/2021	French	PDF
Abridged model	31/12/2019	24/08/2020	21/10/2020	French	PDF
Abridged model	31/12/2018	11/04/2019	16/09/2019	French	PDF
Abridged model	31/12/2017	25/04/2018	26/07/2018	French	PDF
Abridged model	31/12/2016	08/05/2017	28/06/2017	French	PDF
Abridged model	31/12/2015	01/04/2016	21/09/2016	French	PDF
Abridged model	31/12/2014	03/04/2015	19/08/2015	French	PDF
Abridged model	31/12/2013	25/04/2014	07/08/2014	French	PDF
Abridged model	31/12/2012	12/04/2013	06/06/2013	French	PDF
Abridged model	31/12/2011	13/04/2012	31/07/2012	French	PDF
Abridged model	31/12/2010	08/04/2011	29/07/2011	French	PDF
Abridged model	31/12/2009	09/04/2010	01/07/2010	French	PDF
Abridged model	31/12/2008	10/04/2009	06/08/2009	French	PDF
Abridged model	31/12/2007	11/04/2008	16/05/2008	French	PDF
Abridged model	31/12/2006	13/04/2007	04/01/2008	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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

9 active · 37 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Benoit PIRON	Director07/01/2024 → 07/02/2028
Dany DELETTRE	Director07/01/2024 → 07/02/2028
Didier DUKERTS	Director08/01/2020 → 07/02/2028
Jean-Pierre LITT	Director07/02/2024 → 07/02/2028
Laurent VERVIER	Director07/02/2024 → 07/02/2028
Marc OSSENA CANTARA	Director07/02/2024 → 07/02/2028
Marie-Paule PECHER	Director08/01/2020 → 07/02/2028
Philippe BOUCHAT	Director08/04/2011 → 07/02/2028
Pierre WEERTS	Director07/02/2024 → 07/02/2028Chairman of the board of directors07/01/2024 → 08/01/2028ended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Charlotte STEVENS	Director07/01/2024 → 08/01/2028
Marco OSSENA-CANTARA	Director07/01/2024 → 08/01/2028
Christine FONSNY	Director08/01/2020 → 08/01/2024
Daniel IMMEL	Director08/01/2020 → 08/01/2024

Ownership and network

Looking for more information about this company?

Try for free

Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates20/05/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates29/10/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates12/04/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates02/04/2024
DEMISSIONS, NOMINATIONS
PDF
Other22/11/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates11/02/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates12/03/2019
DENOMINATION
PDF
Other22/02/2019
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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

Incorporation

Name

Registered office

Annual accounts

Filings19 filings

Mandates

Didier DUKERTS

Marie-Paule PECHER

Laurent VERVIER

Benoit PIRON

Dany DELETTRE

Marc OSSENA CANTARA

Philippe BOUCHAT

Pierre WEERTS

Jean-Pierre LITT

Marco OSSENA-CANTARA

Charlotte STEVENS

Philippe GHEM

and 32 more mandates

198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025202620272028

Royal Golf Club des FagnesRoyal Golf Club des Fagnes

Chemin du Golf 1, 4900 Spa

Director

DirectorChairman of the board of directors

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Chemin du Golf 1, 4900 SpaCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00432662

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
Royal Golf Club des FagnesCurrent	accounts 2024 → 2025	Accounts 2025 · 2026-00432662
ROYAL GOLFCLUB DES FAGNES	accounts 2023	Accounts 2023 · 2024-00459658
Royal Golf Club des Fagnes	accounts 2021 → 2022	Accounts 2022 · 2023-00471755

Events

2025
Annual accounts 2025108,2 k €↓
2024
Annual accounts 2024138,1 k €↑
2024
Name changeRoyal Golf Club des Fagnes
2023
Annual accounts 202384,7 k €↑
2023
Name changeROYAL GOLFCLUB DES FAGNES
2022
Annual accounts 202211,4 k €↓
2021
Annual accounts 202149,6 k €↓
2020
Annual accounts 2020110,7 k €↑
2019
Annual accounts 2019-33,1 k €↑
2018
Annual accounts 2018-39,8 k €↑
2017
Annual accounts 2017-54,8 k €↓
2016
Annual accounts 20167,6 k €↑
2015
Annual accounts 2015-109,5 k €↓
2014
Annual accounts 2014-96,9 k €↓
2013
Annual accounts 2013-37,8 k €↓
2012
Annual accounts 20129,2 k €↑
2011
Annual accounts 2011840,2 €↓
2010
Annual accounts 201027,3 k €↑
2009
Annual accounts 200911,9 k €↑
2008
Annual accounts 2008-15,6 k €↓
2007
Annual accounts 20076,2 k €
16/01/1981
IncorporationNon-profit organization

Royal Golf Club des Fagnes

Overview

Identity

Financials

Valuation

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

Timeline

Timeline

Registered offices

Company names

Events