ACTIVE

EFICO

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Financial year 2024 · closed on 31/12/2024

Net result

5,5 M €

+56.7% YoY

Revenue

288,9 M €

+17.2% YoY

Equity

19 M €

+41.0% YoY

Workforce

34,8 ETP

+2.4% YoY

What does EFICO do?

EFICO is a Public limited company incorporated in 1987. Its registered office is in Antwerpen. It employs on average 34,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0431.096.011

Incorporation

27/04/1987

Legal form

Public limited company

Registered office

Italiëlei 181
2000 Antwerpen · FlandreSee on map

Contributed capital

5 000 099,16 €

Latest accounts

31/12/2024

Average workforce

34,8 ETP

Joint committees (4)

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	288,9 M €	+17.2%	246,6 M €	-11.4%	278,4 M €	+58.8%	175,3 M €	+19.6%	146,6 M €	-3.1%	151,3 M €	+7.2%	141,2 M €	-16.9%	170 M €	+5.9%	160,5 M €	+112516%	142,5 k €	-5.0%	150 k €	+0.0%	150 k €	-99.9%	192,5 M €	-25.2%	257,2 M €	+56.0%	164,9 M €	+32.0%	124,9 M €	+3.9%	120,3 M €	+21.2%	99,2 M €	+21.4%	81,8 M €
EBITDA	14,9 M €	+33.8%	11,2 M €	+62.5%	6,9 M €	-0.1%	6,9 M €	+62.2%	4,2 M €	+15.0%	3,7 M €	+95.0%	1,9 M €	-58.2%	4,5 M €	+53.5%	2,9 M €	+1980%	-156,4 k €	+15.8%	-185,9 k €	-360%	71,6 k €	-95.3%	1,5 M €	-26.0%	2,1 M €	+45.9%	1,4 M €	+55.2%	907,8 k €	+1334%	63,3 k €	-93.1%	921,5 k €	-19.1%	1,1 M €
Operating result	14,8 M €	+28.0%	11,6 M €	+72.7%	6,7 M €	-1.7%	6,8 M €	+37.6%	4,9 M €	+40.1%	3,5 M €	+88.4%	1,9 M €	-56.8%	4,3 M €	+58.6%	2,7 M €	+1850%	-156,4 k €	+15.8%	-185,9 k €	-360%	71,6 k €	-81.2%	381,2 k €	-78.3%	1,8 M €	+57.4%	1,1 M €	+79.4%	621,2 k €	+301%	-309,1 k €	-150%	618 k €	-39.3%	1 M €
Net result	5,5 M €	+56.7%	3,5 M €	+57.8%	2,2 M €	-46.5%	4,2 M €	+67.2%	2,5 M €	+713%	306,9 k €	+151%	-598,4 k €	-150%	1,2 M €	+163%	459,2 k €	+390%	-158,5 k €	+84.7%	-1 M €	-709%	170,3 k €	+222%	-140,1 k €	-165%	214 k €	+212%	-190,4 k €	-157%	335,1 k €	-32.1%	493,4 k €	+287%	-264,5 k €	-215%	229,2 k €
Balance sheet
Equity	19 M €	+41.0%	13,5 M €	-0.3%	13,5 M €	+19.1%	11,3 M €	+2.9%	11 M €	+4.2%	10,6 M €	+2.7%	10,3 M €	-5.8%	10,9 M €	+7.6%	10,2 M €	+4.4%	9,7 M €	-1.9%	9,9 M €	-9.8%	11 M €	+1.2%	10,9 M €	-1.6%	11 M €	+1.6%	10,9 M €	-2.1%	11,1 M €	+2.6%	10,8 M €	-3.3%	11,2 M €	-2.8%	11,5 M €
Total assets	138,8 M €	+24.6%	111,4 M €	+2.5%	108,7 M €	+42.1%	76,5 M €	+19.4%	64 M €	-3.7%	66,4 M €	-1.2%	67,3 M €	-9.4%	74,3 M €	-9.8%	82,3 M €	+518%	13,3 M €	+6.1%	12,5 M €	+11.4%	11,3 M €	-80.8%	58,5 M €	-37.9%	94,2 M €	+56.3%	60,3 M €	+37.8%	43,7 M €	-16.8%	52,6 M €	+77.5%	29,6 M €	+9.5%	27,1 M €
Cash	684 k €	+70.9%	400,3 k €	-23.1%	520,3 k €	+23.8%	420,4 k €	-19.5%	522,2 k €	+25.7%	415,6 k €	-57.8%	985,4 k €	+91.8%	513,9 k €	-82.9%	3 M €	+3806%	76,7 k €	-49.0%	150,6 k €	-57.3%	352,6 k €	-74.3%	1,4 M €	-69.9%	4,6 M €	+477%	790,1 k €	-1.9%	805,5 k €	-66.7%	2,4 M €	+477%	418,8 k €	-59.7%	1 M €
Debts	118,9 M €	+22.4%	97,1 M €	+3.0%	94,3 M €	+47.0%	64,1 M €	+23.4%	52 M €	-5.9%	55,2 M €	-2.6%	56,7 M €	-9.4%	62,6 M €	-11.7%	70,9 M €	+1893%	3,6 M €	+36.9%	2,6 M €	+906%	258 k €	-99.5%	47,4 M €	-42.8%	83 M €	+68.6%	49,2 M €	+51.4%	32,5 M €	-20.7%	41 M €	+126%	18,2 M €	+29.2%	14,1 M €
Other
Workforce	34,8 ETP	+2.4%	34,0 ETP	+5.9%	32,1 ETP	+7.0%	30,0 ETP	+15.4%	26,0 ETP	+20.4%	21,6 ETP	-1.4%	21,9 ETP	-1.4%	22,2 ETP	-4.3%	23,2 ETP		–		–		–		18,1 ETP	-4.7%	19,0 ETP	-9.5%	21,0 ETP	+9.4%	19,2 ETP	-29.2%	27,1 ETP	+8.8%	24,9 ETP	-2.7%	25,6 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 31/12/2024 · 5 active · 48 ended

Active mandates

Michel Germanès

Managing director · since 13 mai 2025 · until 10 mai 2027

Active

PHILIP VAN GESTEL

Director · since 13 mai 2025 · until 10 mai 2027 · 0477.380.649

Represented by Philip Van gestel

Active

S4K

Director · since 13 mai 2025 · until 10 mai 2027 · 0477.751.724

Represented by Steven Clerckx

Active

VERPICO

Director · since 13 mai 2025 · until 10 mai 2027 · 0562.950.881

Represented by Pierre Vercruysse

Active

ORTELS

Director · since 09 mai 2022 · until 12 mai 2025 · 0474.691.472

Represented by Kim De Greef

Active

Ended mandates

ORTELS

Director · since 10 mai 2022 · until 14 mai 2024 · 0474.691.472

Represented by Kim De Greef

Ended

ImDeG

Director · since 13 mai 2019 · until 09 mai 2022 · 0899.256.019

Represented by Kim De Greef

Ended

S4K

Director · since 30 juin 2015 · until 11 mai 2021 · 0477.751.724

Represented by Steven Clerckx

Ended

S4K

Director · since 30 juin 2015 · until 11 mai 2021 · 0477.751.724

Represented by Steven Clerckx

Ended

At this address

Other companies at this address

Company	CBE no.
EFICO EENHEID● Active	0841.702.058
EFICO FOUNDATION● Active	0862.278.134
Officeco● Active	0500.499.016
SILCO● Active	0715.792.692

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	10/06/2025	12/06/2024	31/07/2023	30/09/2022	31/08/2021	31/07/2020
General meeting	12/05/2025	13/05/2024	30/06/2023	30/09/2022	31/05/2021	30/06/2020
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

28 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2024	12/05/2025	10/06/2025	Dutch	PDF
Full model	31/12/2023	13/05/2024	12/06/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	31/07/2023	Dutch	PDF
Full model	31/12/2021	30/09/2022	30/09/2022	Dutch	PDF
Full model	31/12/2020	31/05/2021	31/08/2021	Dutch	PDF
Full model	31/12/2019	30/06/2020	31/07/2020	Dutch	PDF
Full model	31/12/2018	13/05/2019	14/06/2019	Dutch	PDF
Full model	31/12/2017	29/06/2018	31/07/2018	Dutch	PDF
Full model	31/12/2016	30/06/2017	31/08/2017	Dutch	PDF
Full model	31/12/2015	09/05/2016	11/07/2016	Dutch	PDF
Full model	31/12/2014	30/06/2015	31/07/2015	Dutch	PDF
Consolidated accounts	31/12/2014	30/06/2015	05/08/2015	Dutch	PDF
Full model	31/12/2013	12/05/2014	07/01/2015	Dutch	PDF
Consolidated accounts	31/12/2013	12/05/2014	09/01/2015	Dutch	PDF
Full model	31/12/2012	28/06/2013	04/07/2013	Dutch	PDF
Consolidated accounts	31/12/2012	28/06/2013	04/07/2013	Dutch	PDF
Full model	31/12/2011	25/06/2012	12/07/2012	Dutch	PDF
Consolidated accounts	31/12/2011	25/06/2012	12/07/2012	Dutch	PDF
Full model	31/12/2010	14/07/2011	09/09/2011	Dutch	PDF
Consolidated accounts	31/12/2010	30/09/2011	08/12/2011	Dutch	PDF
Full model	31/12/2009	10/05/2010	14/06/2010	Dutch	PDF
Consolidated accounts	31/12/2009	10/05/2010	14/06/2010	Dutch	PDF
Full model	31/12/2008	11/05/2009	10/06/2009	Dutch	PDF
Consolidated accounts	31/12/2008	11/05/2009	10/06/2009	Dutch	PDF

View all 28 filings

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 31/12/2024 · 5 active · 48 ended

Active mandates

Michel Germanès

Managing director · since 13 mai 2025 · until 10 mai 2027

Active

PHILIP VAN GESTEL

Director · since 13 mai 2025 · until 10 mai 2027 · 0477.380.649

Represented by Philip Van gestel

Active

S4K

Director · since 13 mai 2025 · until 10 mai 2027 · 0477.751.724

Represented by Steven Clerckx

Active

VERPICO

Director · since 13 mai 2025 · until 10 mai 2027 · 0562.950.881

Represented by Pierre Vercruysse

Active

ORTELS

Director · since 09 mai 2022 · until 12 mai 2025 · 0474.691.472

Represented by Kim De Greef

Active

Ended mandates

ORTELS

Director · since 10 mai 2022 · until 14 mai 2024 · 0474.691.472

Represented by Kim De Greef

Ended

ImDeG

Director · since 13 mai 2019 · until 09 mai 2022 · 0899.256.019

Represented by Kim De Greef

Ended

S4K

Director · since 30 juin 2015 · until 11 mai 2021 · 0477.751.724

Represented by Steven Clerckx

Ended

S4K

Director · since 30 juin 2015 · until 11 mai 2021 · 0477.751.724

Represented by Steven Clerckx

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/06/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/08/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/02/2020
ONTSLAGEN - BENOEMINGEN
PDF
Other22/01/2016
DIVERSEN
PDF
Mandates07/09/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/10/2014
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares13/12/2013
KAPITAAL - AANDELEN
PDF
Mandates28/08/2013
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

05/06/2025
nominationGERMANÈS Michel — bestuurder
05/06/2025
nominationDe Greef Kim Jeanne Roger — vaste vertegenwoordiger (voor ORTELS)
05/06/2025
nominationVan gestel Philip — vaste vertegenwoordiger (voor PHILIP VAN gESTEL)
05/06/2025
nominationClerckx Steven Wilfried Myriam Jozef Hendrik — vaste vertegenwoordiger (voor S4K)
05/06/2025
nominationVercruysse Pierre — vaste vertegenwoordiger (voor VERPICO)
2024
Annual accounts 20245,5 M €↑
2023
Annual accounts 20233,5 M €↑
2022
Annual accounts 20222,2 M €↓
09/05/2022
nominationOrtels BV — bestuurder
2021
Annual accounts 20214,2 M €↑
10/05/2021
reconductionMichel Germanès — bestuurder
10/05/2021
reconductionPhilip Van gestel BV — bestuurder
10/05/2021
reconductionVerpico BV — bestuurder
10/05/2021
reconductionS4K BV — bestuurder
2020
Annual accounts 20202,5 M €↑
2019
Annual accounts 2019306,9 k €↑
2018
Annual accounts 2018-598,4 k €↓
2017
Annual accounts 20171,2 M €↑
2016
Annual accounts 2016459,2 k €↑
2015
Annual accounts 2015-158,5 k €↑
2014
Annual accounts 2014-1 M €↓
2013
Annual accounts 2013170,3 k €↑
2012
Annual accounts 2012-140,1 k €↓
2011
Annual accounts 2011214 k €↑
2010
Annual accounts 2010-190,4 k €↓
2009
Annual accounts 2009335,1 k €↓
2008
Annual accounts 2008493,4 k €↑
2007
Annual accounts 2007-264,5 k €↓
2006
Annual accounts 2006229,2 k €
27/04/1987
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

EFICO

Overview

What does EFICO do?

Trend over 19 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