ACTIVE

BODARWE

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Financial year 2025 · Closed on 31/12/2025

Net result116,9 k €-72,3 %over 1 year
Revenue32,9 M €-4,4 %over 1 year
Equity5,4 M €+2,1 %over 1 year
Workforce186,8 ETP-0,2 %over 1 year

Identity

Source · BCE/KBO

BODARWE is a Public limited company incorporated in 1985. Its main activity is: Construction of roads and motorways. Its registered office is in Malmedy. It employs on average 186,8 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0428.086.239
Incorporation
29/11/1985
Legal form
Public limited company
Registered office
Avenue de Norvège 16
4960 Malmedy · WallonieSee on map
Contributed capital
1 360 000,00 €
Latest accounts
31/12/2025
Average workforce
186,8 ETP
Joint committees (3)
  • 124
  • 200
  • 218
Signals
ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 20 financial years

20252024202320222021
Income statement
Revenue32,9 M €34,4 M €30,8 M €31,7 M €24,9 M €
EBITDA2,1 M €2,3 M €2,1 M €2,3 M €1,9 M €
Operating result578,1 k €895,3 k €740,3 k €783,7 k €302 k €
Net result116,9 k €421,6 k €303,1 k €403,2 k €44,1 k €
Balance sheet
Equity5,4 M €5,3 M €4,8 M €4,5 M €4,1 M €
Total assets23 M €24,3 M €21,9 M €22,1 M €20,6 M €
Cash1,9 M €2 M €1,7 M €2,1 M €1,1 M €
Debts17,6 M €19 M €16,9 M €17,5 M €16,4 M €
Other
Workforce186,8 ETP187,2 ETP180,3 ETP172,4 ETP171,5 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

3 active · 3 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Michel BODARWE
Chairman of the board of directors16/06/2006 → 15/06/2029Managing director30/03/2006 → 2007 accountsended
Nathalie KÜPPER
Director19/06/2009 → 15/06/2029
SB GEST0564.841.985Represented by Stéphane BODARWE
Director01/01/2021 → 15/09/2029

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Stéphane BODARWE
Director24/02/2014 → 2020 accounts
Jean-Marie BODARWE
Director15/06/2012 → 24/02/2014

Other companies at this address

Avenue de Norvège 16 4960 Malmedy
CompanyCBE no.
SM BAGUETTE - BODARWE - AQUAFLUX Verviers Centre● Active
0732.863.803
SM BODARWE - HAAS STAVELOT● Active
0677.614.383
SM BODARWE - NELLES RAEREN● Active
0688.729.494
Société momentanée BAGUETTE-BODARWE Verviers parking piscine● Active
1024.986.924
Société momentanée Bodarwé-Baguette Eupen Schilsweg● Active
1007.988.663
Société momentanée BODARWE BAGUETTE THOMASSEN VERVIERS● Active
0755.922.186
Société momentanée non intégrée BODARWE-THOMASEN SPA - Structure métallique● Active
1006.913.151
Société Simple Momentanée BAU-TEAM OSTBELGIEN GOFIBER● Active
1009.973.601
Société Simple Momentanée BODARWE-BAGUETTE-HAAS Chaudfontaine passerelle Hauster● Active
1032.593.605
Société Simple Momentanée BODARWE-ELOY Armco Circuit● Active
1002.473.818
SOCIETE SIMPLE MOMENTANEE BODARWE-HAAS Barrages● Active
0798.270.507
SOCIETE SIMPLE MOMENTANEE BODARWE-HAAS PASSERELLES EUPEN● Active
0794.975.970
SOCIETE SIMPLE MOMENTANEE BODARWE-HAAS Pont Dardanelles● Active
0798.377.702
Société Simple Momentanée BODARWE-HAAS Pont Hütte● Active
1011.019.320
Société Simple Momentanée BODARWE-HAAS station de pompage Ouffet● Active
1020.841.559
Société Simple Momentanée BODARWE-LEMAIRE-SERBI Resa Stavelot-St.Vith● Active
1011.330.017
SOCIETE SIMPLE MOMENTANEE BODARWE-NELLES MULLENDORF● Active
0794.575.894
Société Simple Momentanée BODARWE-NELLES Verviers-Heusy● Active
1023.513.019
Société simple momentanée Bodarwé-Trageco Collecteur de la Soue● Active
0799.764.505
Société simple momentanée Bodarwé-Trageco Kreutzberg● Active
0798.729.177

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 date25/06/202627/06/202504/07/202426/06/202307/07/202213/07/2021
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 model31/12/202519/06/202625/06/2026FrenchPDF
Full model31/12/202420/06/202527/06/2025FrenchPDF
Full model31/12/202321/06/202404/07/2024FrenchPDF
Full model31/12/202216/06/202326/06/2023FrenchPDF
Full model31/12/202117/06/202207/07/2022FrenchPDF
Full model31/12/202018/06/202113/07/2021FrenchPDF
Full model31/12/201919/06/202002/07/2020FrenchPDF
Full model31/12/201821/06/201924/06/2019FrenchPDF
Full model31/12/201715/06/201818/06/2018FrenchPDF
Full model31/12/201616/06/201722/06/2017FrenchPDF
Full model31/12/201517/06/201620/06/2016FrenchPDF
Full model31/12/201419/06/201524/06/2015FrenchPDF
Full model31/12/201320/06/201424/06/2014FrenchPDF
Full model31/12/201221/06/201326/06/2013FrenchPDF
Full model31/12/201115/06/201218/06/2012FrenchPDF
Full model31/12/201017/06/201124/06/2011FrenchPDF
Full model31/12/200918/06/201021/06/2010FrenchPDF
Full model31/12/200819/06/200926/06/2009FrenchPDF
Full model31/12/200719/06/200824/06/2008FrenchPDF
Full model31/12/200615/06/200727/06/2007FrenchPDF

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

3 active · 3 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Michel BODARWE
Chairman of the board of directors16/06/2006 → 15/06/2029Managing director30/03/2006 → 2007 accountsended
Nathalie KÜPPER
Director19/06/2009 → 15/06/2029
SB GEST0564.841.985Represented by Stéphane BODARWE
Director01/01/2021 → 15/09/2029

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Stéphane BODARWE
Director24/02/2014 → 2020 accounts
Jean-Marie BODARWE
Director15/06/2012 → 24/02/2014

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates20/07/2026
    Reconduction du mandat du commissaire - nomination d'un administrateur
    PDF
  • Mandates05/04/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates28/12/2023
    DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates29/04/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates19/10/2020
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates21/08/2018
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates01/12/2017
    DEMISSIONS, NOMINATIONS
    PDF
  • Registered office13/02/2015
    SIEGE SOCIAL
    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
Filings20 filings
Mandates
SB GEST
Michel BODARWE
Nathalie KÜPPER
Stéphane BODARWE
Jean-Marie BODARWE
Jean-Marie BLAISE
198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026202720282029
BODARWE
Avenue de Norvège 16, 4960 Malmedy
Director
Chairman of the board of directorsManaging director
Director
Director
Director
Director
CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE
Registered addressPeriodSource
Avenue de Norvège 16, 4960 MalmedyCurrent
accounts 2021 → 2025
Accounts 2025 · 2026-00198452

Company names

Source · NBB annual accounts, CBE
NamePeriodSource
BODARWECurrent
accounts 2006 → 2025
Accounts 2025 · 2026-00198452

Events

  1. 2025
    Annual accounts 2025116,9 k €↓
  2. 2024
    Annual accounts 2024421,6 k €↑
  3. 2023
    Annual accounts 2023303,1 k €↓
  4. 2022
    Annual accounts 2022403,2 k €↑
  5. 2021
    Annual accounts 202144,1 k €↓
  6. 2020
    Annual accounts 202059,6 k €↓
  7. 2019
    Annual accounts 2019118,2 k €↓
  8. 2018
    Annual accounts 2018421,5 k €↑
  9. 2017
    Annual accounts 2017-498,4 k €↓
  10. 2016
    Annual accounts 201620,3 k €↑
  11. 2015
    Annual accounts 2015-30,4 k €↓
  12. 2014
    Annual accounts 201419,2 k €↓
  13. 2013
    Annual accounts 2013443,5 k €↓
  14. 2012
    Annual accounts 2012576,3 k €↓
  15. 2011
    Annual accounts 2011823,3 k €↑
  16. 2010
    Annual accounts 2010-39,9 k €↑
  17. 2009
    Annual accounts 2009-894 k €↓
  18. 2008
    Annual accounts 2008-73,3 k €↓
  19. 2007
    Annual accounts 2007561,1 k €↑
  20. 2006
    Annual accounts 2006277,4 k €
  21. 29/11/1985
    IncorporationPublic limited company