ACTIVE

GENERAL LEASE

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Financial year 2025 · closed on 31/12/2025

Net result

18,8 M €

+44.4% YoY

Revenue

73,6 M €

-3.2% YoY

Equity

29,4 M €

-12.2% YoY

Workforce

42,3 ETP

-5.8% YoY

What does GENERAL LEASE do?

GENERAL LEASE is a Public limited company incorporated in 1987. Its registered office is in Tongeren. It employs on average 42,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0431.586.751

Incorporation

03/07/1987

Legal form

Public limited company

Registered office

Overhaamlaan 71
3700 Tongeren · FlandreSee on map

Contributed capital

680 576,59 €

Latest accounts

31/12/2025

Average workforce

42,3 ETP

Joint committees (3)

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 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	73,6 M €	-3.2%	76 M €	-2.9%	78,3 M €	+47.5%	53,1 M €	+67.1%	31,8 M €	+15.5%	27,5 M €	-23.8%	36,1 M €	+9.0%	33,1 M €	+20.0%	27,6 M €	+13.2%	24,4 M €	+12.0%	21,8 M €	+37.0%	15,9 M €	-2.3%	16,3 M €	+3.6%	15,7 M €	-8.7%	17,2 M €	+10.2%	15,6 M €	+6.7%	14,6 M €	-6.1%	15,6 M €	+9.3%	14,2 M €	+16.7%	12,2 M €
EBITDA	35,1 M €	-7.4%	37,9 M €	-13.5%	43,8 M €	+41.7%	30,9 M €	+91.7%	16,1 M €	+43.8%	11,2 M €	-27.0%	15,4 M €	+24.1%	12,4 M €	+17.1%	10,6 M €	+13.9%	9,3 M €	+12.2%	8,3 M €	+77.3%	4,7 M €	-3.2%	4,8 M €	+3.0%	4,7 M €	-18.6%	5,8 M €	-5.7%	6,1 M €	+65.1%	3,7 M €	-17.9%	4,5 M €	+21.3%	3,7 M €	-0.6%	3,7 M €
Operating result	26,7 M €	+30.6%	20,4 M €	-3.3%	21,1 M €	+42.1%	14,9 M €	+128%	6,5 M €	+13.9%	5,7 M €	-36.8%	9,1 M €	+29.9%	7 M €	+20.1%	5,8 M €	+20.6%	4,8 M €	+11.4%	4,3 M €	+218%	1,4 M €	-9.2%	1,5 M €	-7.3%	1,6 M €	-11.8%	1,8 M €	-16.9%	2,2 M €	+77.0%	1,2 M €	-36.1%	1,9 M €	-17.3%	2,4 M €	+13.8%	2,1 M €
Net result	18,8 M €	+44.4%	13 M €	-5.4%	13,8 M €	+28.6%	10,7 M €	+110%	5,1 M €	+15.7%	4,4 M €	-33.0%	6,6 M €	+11.2%	5,9 M €	+23.5%	4,8 M €	+20.2%	4 M €	+22.3%	3,3 M €	+176%	1,2 M €	+16.8%	1 M €	-5.7%	1,1 M €	+5.4%	1 M €	-36.5%	1,6 M €	+104%	785,3 k €	+11.6%	703,5 k €	-42.5%	1,2 M €	-16.4%	1,5 M €
Balance sheet
Equity	29,4 M €	-12.2%	33,5 M €	+3.2%	32,5 M €	+9.4%	29,7 M €	+56.4%	19 M €	+22.7%	15,5 M €	-20.4%	19,5 M €	+32.8%	14,7 M €	+15.2%	12,7 M €	+12.4%	11,3 M €	+10.7%	10,2 M €	+17.0%	8,7 M €	+3.5%	8,4 M €	+10.7%	7,6 M €	+12.9%	6,8 M €	+11.9%	6 M €	+13.2%	5,3 M €	+7.8%	4,9 M €	+8.9%	4,5 M €	+9.0%	4,2 M €
Total assets	161,4 M €	+5.2%	153,5 M €	-1.8%	156,2 M €	+40.0%	111,6 M €	+66.3%	67,1 M €	+20.7%	55,6 M €	-13.9%	64,6 M €	+7.7%	60 M €	+21.2%	49,5 M €	+19.1%	41,5 M €	+15.9%	35,8 M €	-9.3%	39,5 M €	+25.2%	31,6 M €	-0.9%	31,8 M €	+3.4%	30,8 M €	+11.0%	27,7 M €	+7.6%	25,8 M €	-8.1%	28,1 M €	-4.2%	29,3 M €	+17.6%	24,9 M €
Cash	321,4 k €	-50.8%	652,8 k €	+61.6%	404 k €	+170%	149,8 k €	+418%	28,9 k €	+26.7%	22,8 k €	-77.7%	102,6 k €	-25.1%	136,9 k €	+141%	56,9 k €	-63.0%	153,8 k €	+57.4%	97,7 k €	+133%	42 k €	-58.7%	101,6 k €	-32.2%	150 k €	+72.2%	87,1 k €	-52.2%	182,3 k €	-56.1%	415,7 k €	+1682%	23,3 k €	-83.3%	140 k €	-32.0%	206 k €
Debts	127,2 M €	+14.5%	111,1 M €	-2.1%	113,5 M €	+54.7%	73,4 M €	+67.6%	43,8 M €	+13.6%	38,5 M €	-10.8%	43,2 M €	-1.8%	44 M €	+24.1%	35,4 M €	+20.7%	29,4 M €	+22.8%	23,9 M €	-19.4%	29,7 M €	+33.2%	22,3 M €	-5.2%	23,5 M €	+1.6%	23,1 M €	+11.8%	20,7 M €	+6.7%	19,4 M €	-11.1%	21,8 M €	-5.3%	23 M €	+19.7%	19,3 M €
Other
Workforce	42,3 ETP	-5.8%	44,9 ETP	+3.0%	43,6 ETP	+22.8%	35,5 ETP	+9.9%	32,3 ETP	-4.2%	33,7 ETP	-20.3%	42,3 ETP	-0.2%	42,4 ETP	-6.4%	45,3 ETP	+3.9%	43,6 ETP	+4.1%	41,9 ETP	+5.8%	39,6 ETP	+16.8%	33,9 ETP	+10.1%	30,8 ETP	-1.3%	31,2 ETP	-20.6%	39,3 ETP	+8.0%	36,4 ETP	+1.7%	35,8 ETP	+9.5%	32,7 ETP	+20.2%	27,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 M€ and 500 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 34 ended

Active mandates

Philip Boden

Managing director · since 20 décembre 2023 · until 20 décembre 2029

Active

SCT INVEST

Managing director · since 20 décembre 2023 · until 20 décembre 2029 · 0802.720.134

Represented by Christophe Boden

Active

Ended mandates

Werner Wouters

Director · since 26 juin 2020 · until 20 décembre 2023

Ended

Werner Wouters

Director · since 26 juin 2020 · until 10 juin 2024

Ended

Thibaud Boden

Director · since 25 juin 2020 · until 20 décembre 2023

Ended

Thibaud Boden

Director · since 25 juin 2020 · until 10 juin 2024

Ended

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	27/07/2026	28/07/2025	08/07/2024	31/07/2023	11/07/2022	15/07/2021
General meeting	08/06/2026	30/06/2025	10/06/2024	30/06/2023	13/06/2022	24/06/2021
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	08/06/2026	27/07/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	28/07/2025	Dutch	PDF
Full model	31/12/2023	10/06/2024	08/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	31/07/2023	Dutch	PDF
Full model	31/12/2021	13/06/2022	11/07/2022	Dutch	PDF
Full model	31/12/2020	24/06/2021	15/07/2021	Dutch	PDF
Full model	31/12/2019	25/06/2020	17/07/2020	Dutch	PDF
Full model	31/12/2018	11/06/2019	27/06/2019	Dutch	PDF
Full model	31/12/2017	11/06/2018	25/06/2018	Dutch	PDF
Full model	31/12/2016	12/06/2017	28/06/2017	Dutch	PDF
Full model	31/12/2015	13/06/2016	06/07/2016	Dutch	PDF
Full model	31/12/2014	08/06/2015	03/07/2015	Dutch	PDF
Full model	31/12/2013	10/06/2014	23/06/2014	Dutch	PDF
Full model	31/12/2012	10/06/2013	25/06/2013	Dutch	PDF
Full model	31/12/2011	11/06/2012	27/06/2012	Dutch	PDF
Full model	31/12/2010	14/06/2011	06/07/2011	Dutch	PDF
Full model	31/12/2009	14/06/2010	15/06/2010	Dutch	PDF
Full model	31/12/2008	08/06/2009	22/06/2009	Dutch	PDF
Full model	31/12/2007	09/06/2008	16/06/2008	Dutch	PDF
Full model	31/12/2006	11/06/2007	09/07/2007	Dutch	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 34 ended

Active mandates

Philip Boden

Managing director · since 20 décembre 2023 · until 20 décembre 2029

Active

SCT INVEST

Managing director · since 20 décembre 2023 · until 20 décembre 2029 · 0802.720.134

Represented by Christophe Boden

Active

Ended mandates

Werner Wouters

Director · since 26 juin 2020 · until 20 décembre 2023

Ended

Werner Wouters

Director · since 26 juin 2020 · until 10 juin 2024

Ended

Thibaud Boden

Director · since 25 juin 2020 · until 20 décembre 2023

Ended

Thibaud Boden

Director · since 25 juin 2020 · until 10 juin 2024

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/11/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Other05/05/2023
DIVERSEN
PDF
Mandates13/10/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/11/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/08/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/07/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/06/2018
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

2025
Annual accounts 202518,8 M €↑
2024
Annual accounts 202413 M €↓
11/09/2024
nominationVan Havermaet Bedrijfsrevisoren BV — commissaris
2023
Annual accounts 202313,8 M €↑
2022
Annual accounts 202210,7 M €↑
2021
Annual accounts 20215,1 M €↑
2020
Annual accounts 20204,4 M €↓
2019
Annual accounts 20196,6 M €↑
2018
Annual accounts 20185,9 M €↑
2017
Annual accounts 20174,8 M €↑
2016
Annual accounts 20164 M €↑
2015
Annual accounts 20153,3 M €↑
2014
Annual accounts 20141,2 M €↑
2013
Annual accounts 20131 M €↓
2012
Annual accounts 20121,1 M €↑
2011
Annual accounts 20111 M €↓
2010
Annual accounts 20101,6 M €↑
2009
Annual accounts 2009785,3 k €↑
2008
Annual accounts 2008703,5 k €↓
2007
Annual accounts 20071,2 M €↓
2006
Annual accounts 20061,5 M €
03/07/1987
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

GENERAL LEASE

Overview

What does GENERAL LEASE do?

Trend over 20 financial years

Indicative valuation

Board of directors

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