ACTIVE

NUTONS

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Financial year 2025 · closed on 31/12/2025

Net result

5,2 M €

-5.8% YoY

Revenue

33,5 M €

+4.7% YoY

Equity

6,2 M €

+0.4% YoY

Workforce

86,8 ETP

-3.7% YoY

What does NUTONS do?

NUTONS is a Public limited company incorporated in 1982. Its main activity is: Construction of roads and motorways. Its registered office is in Gembloux. It employs on average 86,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0422.918.317

Incorporation

01/07/1982

Legal form

Public limited company

Registered office

Rue des Praules, Sauv. 9
5030 Gembloux · WallonieSee on map

Contributed capital

612 420,01 €

Latest accounts

31/12/2025

Average workforce

86,8 ETP

Activities (NACE)

42110Construction of roads and motorways· main 42110Construction of roads and motorways 42130Construction of bridges and tunnels 42130Construction of bridges and tunnels 45214Maintenance and repair of motor vehicles 45230Maintenance and repair of motor vehicles

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	33,5 M €	+4.7%	32 M €	+7.4%	29,8 M €	+13.3%	26,3 M €	+18.6%	22,2 M €	-5.4%	23,5 M €	+14.1%	20,6 M €	-10.4%	23 M €	+20.0%	19,1 M €	-26.1%	25,9 M €	+42.9%	18,1 M €	-11.6%	20,5 M €	+17.5%	17,5 M €	-0.2%	17,5 M €	-13.8%	20,3 M €	+12.6%	18 M €	-3.8%	18,7 M €	+13.9%	16,5 M €	+40.0%	11,8 M €	+69.4%	6,9 M €
EBITDA	7,8 M €	+2.3%	7,6 M €	-6.7%	8,2 M €	+16.7%	7 M €	+5.5%	6,6 M €	+15.2%	5,8 M €	-28.5%	8 M €	+16.9%	6,9 M €	+56.3%	4,4 M €	-40.8%	7,4 M €	+62.4%	4,6 M €	+0.1%	4,6 M €	+76.9%	2,6 M €	-28.5%	3,6 M €	-24.0%	4,8 M €	-8.6%	5,2 M €	+2.4%	5,1 M €	+26.3%	4 M €	+42.4%	2,8 M €	+4.2%	2,7 M €
Operating result	7,5 M €	+3.5%	7,2 M €	-9.2%	8 M €	+18.0%	6,7 M €	+3.9%	6,5 M €	+16.7%	5,6 M €	-29.0%	7,8 M €	+17.2%	6,7 M €	+58.3%	4,2 M €	-41.8%	7,3 M €	+64.1%	4,4 M €	+1.3%	4,4 M €	+84.2%	2,4 M €	-30.6%	3,4 M €	-24.6%	4,5 M €	-8.7%	5 M €	+2.6%	4,8 M €	+27.9%	3,8 M €	+45.8%	2,6 M €	+3.8%	2,5 M €
Net result	5,2 M €	-5.8%	5,5 M €	-6.4%	5,9 M €	+13.9%	5,2 M €	-16.1%	6,2 M €	+80.2%	3,4 M €	-30.7%	4,9 M €	+10.9%	4,5 M €	+60.6%	2,8 M €	-41.0%	4,7 M €	+55.5%	3 M €	+8.3%	2,8 M €	+84.3%	1,5 M €	-37.1%	2,4 M €	-19.0%	3 M €	-11.2%	3,3 M €	+8.1%	3,1 M €	+29.3%	2,4 M €	+43.3%	1,7 M €	+11.4%	1,5 M €
Balance sheet
Equity	6,2 M €	+0.4%	6,2 M €	-5.8%	6,6 M €	+12.2%	5,9 M €	-15.1%	6,9 M €	+66.8%	4,1 M €	-1.6%	4,2 M €	+23.9%	3,4 M €	-11.6%	3,8 M €	+57.3%	2,4 M €	+4.7%	2,3 M €	-7.7%	2,5 M €	+23.5%	2 M €	+0.3%	2 M €	-28.8%	2,9 M €	-1.8%	2,9 M €	-12.2%	3,3 M €	+160%	1,3 M €	+7.0%	1,2 M €	-14.9%	1,4 M €
Total assets	13,2 M €	-26.0%	17,8 M €	+15.2%	15,4 M €	-2.0%	15,8 M €	+8.5%	14,5 M €	+1.5%	14,3 M €	+4.3%	13,7 M €	-5.0%	14,5 M €	+21.9%	11,9 M €	-35.3%	18,3 M €	+90.7%	9,6 M €	+13.5%	8,5 M €	-5.7%	9 M €	-6.9%	9,6 M €	+19.1%	8,1 M €	+2.1%	7,9 M €	-40.0%	13,2 M €	+50.4%	8,8 M €	+11.7%	7,9 M €	-8.1%	8,6 M €
Cash	3,8 M €	+116%	1,8 M €	+677%	227,6 k €	-89.5%	2,2 M €	+90.1%	1,1 M €	+37.4%	825,8 k €	-84.3%	5,2 M €	+545%	813,3 k €	+1545%	49,4 k €	+79.8%	27,5 k €	-90.9%	300,7 k €	+185%	105,5 k €	-11.5%	119,3 k €	+1080%	10,1 k €	-88.2%	85,7 k €	-93.5%	1,3 M €	+1219%	99,6 k €	-70.8%	341,2 k €	+8509%	4 k €	-29.4%	5,6 k €
Debts	6,6 M €	-41.9%	11,4 M €	+29.6%	8,8 M €	-10.6%	9,8 M €	+28.7%	7,6 M €	-25.0%	10,2 M €	+7.4%	9,5 M €	-14.2%	11 M €	+38.3%	8 M €	-49.7%	15,8 M €	+119%	7,2 M €	+22.8%	5,9 M €	-13.6%	6,8 M €	-9.5%	7,5 M €	+46.3%	5,1 M €	+4.4%	4,9 M €	-49.7%	9,8 M €	+32.4%	7,4 M €	+12.8%	6,5 M €	-6.3%	7 M €
Other
Workforce	86,8 ETP	-3.7%	90,1 ETP	-0.8%	90,8 ETP	+4.8%	86,6 ETP	0.0%	86,6 ETP	-1.8%	88,2 ETP	-2.3%	90,3 ETP	+1.5%	89,0 ETP	+5.6%	84,3 ETP	-0.7%	84,9 ETP	+13.5%	74,8 ETP	+1.9%	73,4 ETP	-6.3%	78,3 ETP	+0.6%	77,8 ETP	+1.3%	76,8 ETP	+4.3%	73,6 ETP	+9.4%	67,3 ETP	-3.2%	69,5 ETP	-1.8%	70,8 ETP	-1.1%	71,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 19 ended

Active mandates

Giancarlo ANGELOZZI

Managing director · since 29 décembre 2023 · until 30 juin 2030

Active

Olivier ANGELOZZI

Managing director · since 29 décembre 2023 · until 30 juin 2030

Active

Pierre-Antoine MALOU

Managing director · since 29 décembre 2023 · until 30 juin 2030

Active

Ended mandates

Giancarlo ANGELOZZI

Managing director · since 01 avril 2014 · until 01 avril 2019

Ended

Olivier ANGELOZZI

Director · since 01 avril 2014 · until 01 avril 2019

Ended

Olivier ANGELOZZI

Managing director · since 01 avril 2014

Ended

Pierre-Antoine MALOU

Managing director · since 01 avril 2014 · until 01 avril 2019

Ended

At this address

Other companies at this address

Company	CBE no.
La Société Simple Momentanée NUTONS - INFRANEO● Active	0800.769.840
NUTONS-OREX● Active	0684.980.247
TRADEHY● Active	0452.911.410

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	30/07/2026	07/08/2025	30/07/2024	29/08/2023	18/08/2022	13/09/2021
General meeting	30/06/2026	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	30/07/2026	French	PDF
Full model	31/12/2024	30/06/2025	07/08/2025	French	PDF
Full model	31/12/2023	30/06/2024	30/07/2024	French	PDF
Full model	31/12/2022	30/06/2023	29/08/2023	French	PDF
Full model	31/12/2021	30/06/2022	18/08/2022	French	PDF
Full model	31/12/2020	30/06/2021	13/09/2021	French	PDF
Full model	31/12/2019	30/06/2020	23/09/2020	French	PDF
Full model	31/12/2018	30/06/2019	28/08/2019	French	PDF
Full model	31/12/2017	30/06/2018	30/09/2018	French	PDF
Full model	31/12/2016	13/04/2017	02/08/2017	French	PDF
Full model	31/12/2015	14/04/2016	27/07/2016	French	PDF
Full model	31/12/2014	03/04/2015	29/07/2015	French	PDF
Full model	31/12/2013	30/05/2014	12/08/2014	French	PDF
Full model	31/12/2012	30/03/2013	17/07/2013	French	PDF
Full model	31/12/2011	31/03/2012	23/07/2012	French	PDF
Full model	31/12/2010	31/03/2011	05/08/2011	French	PDF
Full model	31/12/2009	31/03/2010	15/07/2010	French	PDF
Full model	31/12/2008	30/06/2009	17/07/2009	French	PDF
Full model	31/12/2007	20/06/2008	07/07/2008	French	PDF
Full model	31/12/2006	30/06/2007	29/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 · 3 active · 19 ended

Active mandates

Giancarlo ANGELOZZI

Managing director · since 29 décembre 2023 · until 30 juin 2030

Active

Olivier ANGELOZZI

Managing director · since 29 décembre 2023 · until 30 juin 2030

Active

Pierre-Antoine MALOU

Managing director · since 29 décembre 2023 · until 30 juin 2030

Active

Ended mandates

Giancarlo ANGELOZZI

Managing director · since 01 avril 2014 · until 01 avril 2019

Ended

Olivier ANGELOZZI

Director · since 01 avril 2014 · until 01 avril 2019

Ended

Olivier ANGELOZZI

Managing director · since 01 avril 2014

Ended

Pierre-Antoine MALOU

Managing director · since 01 avril 2014 · until 01 avril 2019

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/03/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates05/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS - DEMISSIONS, NOMINATIONS
PDF
Mandates20/09/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates13/01/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates23/07/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates04/07/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates31/10/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates14/04/2014
DEMISSIONS, NOMINATIONS
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

2025
Annual accounts 20255,2 M €↓
2024
Annual accounts 20245,5 M €↓
2023
Annual accounts 20235,9 M €↑
2022
Annual accounts 20225,2 M €↓
2021
Annual accounts 20216,2 M €↑
2020
Annual accounts 20203,4 M €↓
2019
Annual accounts 20194,9 M €↑
2018
Annual accounts 20184,5 M €↑
2017
Annual accounts 20172,8 M €↓
2016
Annual accounts 20164,7 M €↑
2015
Annual accounts 20153 M €↑
2014
Annual accounts 20142,8 M €↑
2013
Annual accounts 20131,5 M €↓
2012
Annual accounts 20122,4 M €↓
2011
Annual accounts 20113 M €↓
2010
Annual accounts 20103,3 M €↑
2009
Annual accounts 20093,1 M €↑
2008
Annual accounts 20082,4 M €↑
2007
Annual accounts 20071,7 M €↑
2006
Annual accounts 20061,5 M €
01/07/1982
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

NUTONS

Overview

What does NUTONS do?

Trend over 20 financial years

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