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Cegelec Electrical Solutions

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Financial year 2025 · closed on 31/12/2025

Net result

4,5 M €

+166.9% YoY

Revenue

73,9 M €

+218.3% YoY

Equity

15,2 M €

+215.7% YoY

Workforce

237,9 ETP

+217.6% YoY

What does Cegelec Electrical Solutions do?

Cegelec Electrical Solutions is a Public limited company incorporated in 1986. Its main activity is: Electrical installation. Its registered office is in Bruxelles. It employs on average 237,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0431.998.111

Incorporation

15/09/1986

Legal form

Public limited company

Registered office

Avenue du Bourget 44
1130 Bruxelles · BruxellesSee on map

Contributed capital

10 004 020,00 €

Latest accounts

31/12/2025

Average workforce

237,9 ETP

Activities (NACE)

43211Electrical installation· main 43211Electrical installation 45310Wholesale trade of motor vehicle parts and accessories

Joint committees (4)

149
14901
200
218

Signals

ProfitableLow riskPositive cashflowPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Revenue	73,9 M €	+218%	23,2 M €	-11.2%	26,1 M €	+17.7%	22,2 M €	+1.1%	22 M €	+7.9%	20,4 M €	-14.4%	23,8 M €	+35.4%	17,6 M €	-26.3%	23,8 M €	-2.4%	24,4 M €	-23.7%	32 M €	+109%	15,3 M €	+46.6%	10,4 M €	-15.4%	12,3 M €	-15.3%	14,5 M €	-8.5%	15,9 M €	-4.1%	16,6 M €
EBITDA	5,7 M €	+179%	2,1 M €	-5.9%	2,2 M €	+83.0%	1,2 M €	+10.8%	1,1 M €	-10.8%	1,2 M €	-21.9%	1,5 M €	+252%	-1 M €	-418%	319,3 k €	-4.4%	334,2 k €	-39.1%	548,5 k €	+4.2%	526,4 k €	+424%	-162,6 k €	-334%	-37,5 k €	-133%	114,6 k €	-37.5%	183,3 k €	-49.4%	362,5 k €
Operating result	5,5 M €	+178%	2 M €	-4.1%	2,1 M €	+92.2%	1,1 M €	-8.2%	1,2 M €	+25.0%	943,7 k €	-35.8%	1,5 M €	+242%	-1 M €	-597%	207,8 k €	-2.7%	213,5 k €	-51.0%	435,5 k €	+7.9%	403,8 k €	+236%	-295,8 k €	-83.7%	-161,1 k €	-1610%	-9,4 k €	-110%	96,9 k €	-67.8%	301,4 k €
Net result	4,5 M €	+167%	1,7 M €	+0.6%	1,7 M €	+129%	733,2 k €	+3.7%	706,9 k €	-19.8%	881,5 k €	-36.3%	1,4 M €	+221%	-1,1 M €	-6437%	18,1 k €	+45.1%	12,4 k €	-95.0%	251,1 k €	+4.7%	239,8 k €	+201%	-236,7 k €	-138%	-99,3 k €	-205%	94,3 k €	-6.7%	101,1 k €	-57.4%	237,4 k €
Balance sheet
Equity	15,2 M €	+216%	4,8 M €	+0.2%	4,8 M €	+0.6%	4,8 M €	+5.1%	4,5 M €	+1.3%	4,5 M €	+24.4%	3,6 M €	+62.2%	2,2 M €	+34.1%	1,7 M €	+1.1%	1,6 M €	+0.8%	1,6 M €	+1.2%	1,6 M €	+12.4%	1,4 M €	-14.2%	1,7 M €	-5.6%	1,8 M €	-6.9%	1,9 M €	+109%	908 k €
Total assets	70,1 M €	+387%	14,4 M €	-12.4%	16,4 M €	+4.6%	15,7 M €	-0.2%	15,7 M €	+13.3%	13,9 M €	+1.0%	13,7 M €	+8.5%	12,7 M €	+15.3%	11 M €	+50.6%	7,3 M €	-39.1%	12 M €	+89.3%	6,3 M €	+3.1%	6,1 M €	+0.2%	6,1 M €	+3.1%	5,9 M €	-22.8%	7,7 M €	-27.4%	10,6 M €
Cash	37,6 M €	+288%	9,7 M €	-4.0%	10,1 M €	+2.8%	9,8 M €	-0.3%	9,8 M €	+36.4%	7,2 M €	-7.7%	7,8 M €	+65.3%	4,7 M €	+1997%	225,7 k €	-76.7%	970 k €	+21.9%	796,1 k €	+385%	164 k €	-33.5%	246,8 k €	-39.5%	408,1 k €	-18.4%	499,9 k €	-45.9%	923,4 k €	-41.4%	1,6 M €
Debts	54,8 M €	+473%	9,6 M €	-17.6%	11,6 M €	+6.4%	10,9 M €	-2.3%	11,2 M €	+21.1%	9,2 M €	-7.8%	10 M €	-4.1%	10,4 M €	+12.0%	9,3 M €	+65.3%	5,6 M €	-45.4%	10,3 M €	+119%	4,7 M €	+0.3%	4,7 M €	+5.6%	4,4 M €	+6.8%	4,2 M €	-17.6%	5,1 M €	-45.4%	9,3 M €
Other
Workforce	237,9 ETP	+218%	74,9 ETP	+2.5%	73,1 ETP	+6.6%	68,6 ETP	-1.6%	69,7 ETP	-3.3%	72,1 ETP	+0.8%	71,5 ETP	+4.2%	68,6 ETP	+63.7%	41,9 ETP	+0.2%	41,8 ETP	0.0%	41,8 ETP	+8.3%	38,6 ETP	+1.0%	38,2 ETP	+4.9%	36,4 ETP	-6.9%	39,1 ETP	-7.1%	42,1 ETP	-6.0%	44,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 57 ended

Active mandates

FILIP AERTS

Director · since 01 janvier 2025 · until 18 juin 2030

Active

HANNE MEERSMAN

Director · since 01 janvier 2025 · until 09 mars 2026

Active

OLIVIER RUYMEN

Managing director · since 01 janvier 2025 · until 18 juin 2030

Active

ANN HENDRICKX

Director · since 21 juin 2022 · until 20 juin 2028

Active

FABRICE MONTESI

Director · since 21 juin 2022 · until 20 juin 2028

Active

Ended mandates

HANNE MEERSMAN

Director · since 01 janvier 2025 · until 18 juin 2030

Ended

ANNE-PASCALE KOEUNE

Director · since 21 juin 2022 · until 01 janvier 2023

Ended

BENNY VANDEVENNE

Director · since 21 juin 2022 · until 01 janvier 2025

Ended

BENNY VANDEVENNE

Director · since 21 juin 2022 · until 20 juin 2028

Ended

At this address

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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	24/06/2026	04/11/2025	15/07/2024	22/06/2023	24/06/2022	28/06/2021
General meeting	10/06/2026	17/06/2025	18/06/2024	20/06/2023	21/06/2022	15/06/2021
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

23 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	10/06/2026	24/06/2026	French	PDF
Full model	31/12/2025	10/06/2026	24/06/2026	Dutch	PDF
Full modelCorrection	31/12/2024	17/06/2025	04/11/2025	Dutch	PDF
Full modelCorrection	31/12/2024	17/06/2025	16/10/2025	Dutch	PDF
Full model	31/12/2024	17/06/2025	11/07/2025	Dutch	PDF
Full model	31/12/2023	18/06/2024	15/07/2024	Dutch	PDF
Full model	31/12/2022	20/06/2023	22/06/2023	Dutch	PDF
Full model	31/12/2021	21/06/2022	24/06/2022	Dutch	PDF
Full model	31/12/2020	15/06/2021	28/06/2021	Dutch	PDF
Full model	31/12/2019	16/06/2020	02/07/2020	Dutch	PDF
Full model	31/12/2018	18/06/2019	25/06/2019	Dutch	PDF
Full model	31/12/2017	16/07/2018	02/08/2018	Dutch	PDF
Full model	31/12/2016	02/03/2017	10/03/2017	Dutch	PDF
Full model	31/12/2015	28/04/2016	11/05/2016	Dutch	PDF
Full model	31/12/2014	27/04/2015	12/05/2015	Dutch	PDF
Full model	31/12/2013	19/03/2014	27/03/2014	Dutch	PDF
Full model	31/12/2012	03/06/2013	01/07/2013	Dutch	PDF
Full model	31/12/2011	16/04/2012	24/04/2012	Dutch	PDF
Full model	31/12/2010	09/06/2011	30/06/2011	Dutch	PDF
Full model	31/12/2009	30/06/2010	12/07/2010	Dutch	PDF
Full model	31/12/2008	02/06/2009	28/07/2009	Dutch	PDF
Full model	31/12/2007	02/06/2008	14/07/2008	Dutch	PDF
Full model	31/12/2006	01/06/2007	24/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 · 5 active · 57 ended

Active mandates

FILIP AERTS

Director · since 01 janvier 2025 · until 18 juin 2030

Active

HANNE MEERSMAN

Director · since 01 janvier 2025 · until 09 mars 2026

Active

OLIVIER RUYMEN

Managing director · since 01 janvier 2025 · until 18 juin 2030

Active

ANN HENDRICKX

Director · since 21 juin 2022 · until 20 juin 2028

Active

FABRICE MONTESI

Director · since 21 juin 2022 · until 20 juin 2028

Active

Ended mandates

HANNE MEERSMAN

Director · since 01 janvier 2025 · until 18 juin 2030

Ended

ANNE-PASCALE KOEUNE

Director · since 21 juin 2022 · until 01 janvier 2023

Ended

BENNY VANDEVENNE

Director · since 21 juin 2022 · until 01 janvier 2025

Ended

BENNY VANDEVENNE

Director · since 21 juin 2022 · until 20 juin 2028

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/03/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates16/03/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/11/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates26/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares18/04/2025
KAPITAAL - AANDELEN
PDF
Capital / shares18/04/2025
CAPITAL, ACTIONS
PDF
Mandates28/02/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/02/2025
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 20254,5 M €↑
17/06/2025
nominationEY Réviseurs d'Entreprises — commissaire
17/06/2025
nominationEY Bedrijfsrevisoren — commissaris
01/01/2025
augmentation_capital
01/01/2025
nominationOlivier RUYMEN — gedelegeerd bestuurder
01/01/2025
nominationOlivier RUYMEN — administrateur délégué
01/01/2025
nominationFilip AERTS — bestuurder
01/01/2025
nominationOlivier RUYMEN — bestuurder
01/01/2025
nominationHanne MEERSMAN — bestuurder
01/01/2025
apportVINCI Energies Belgium NV
01/01/2025
split
2024
Annual accounts 20241,7 M €↑
20/12/2024
apport
08/10/2024
nominationKathleen De Brabander — commissaire
08/10/2024
nominationSofian Milad — commissaire
2024
Name changeCEGELEC ELECTRICAL SOLUTIONS
2023
Annual accounts 20231,7 M €↑
20/06/2023
reconductionDeloitte Bedrijfsrevisoren — commissaris
31/03/2023
reconductionFabrice Montesi — Afgevaardigd Bestuurder
2022
Annual accounts 2022733,2 k €↑
21/06/2022
reconductionFabrice Montesi — bestuurder
21/06/2022
reconductionBenny Vandevenne — bestuurder
21/06/2022
reconductionMarc Lemaire — bestuurder
21/06/2022
reconductionAnn Hendrickx — bestuurder
21/06/2022
reconductionAnne-Pascale Koeune — bestuurder
21/06/2022
reconductionFabrice Montesi — gedelegeerd bestuurder
2021
Annual accounts 2021706,9 k €↓
2021
Name changeINSTALLATIETECHNIEK BELGIË
2020
Annual accounts 2020881,5 k €↓
2019
Annual accounts 20191,4 M €↑
2018
Annual accounts 2018-1,1 M €↓
2016
Annual accounts 201618,1 k €↑
2015
Annual accounts 201512,4 k €↓
2014
Annual accounts 2014251,1 k €↑
2013
Annual accounts 2013239,8 k €↑
2012
Annual accounts 2012-236,7 k €↓
2011
Annual accounts 2011-99,3 k €↓
2010
Annual accounts 201094,3 k €↓
2009
Annual accounts 2009101,1 k €↓
2008
Annual accounts 2008237,4 k €
15/09/1986
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

Cegelec Electrical Solutions

Overview

What does Cegelec Electrical Solutions do?

Trend over 17 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