ACTIVE

NELLES FRERES

Export PDF

Financial year 2025 · Closed on 31/12/2025

Net result1,4 M €-17,4 %over 1 year

Revenue40,1 M €-1,2 %over 1 year

Equity8 M €+21,6 %over 1 year

Workforce180,5 ETP+4,6 %over 1 year

Identity

Source · BCE/KBO

NELLES FRERES is a Public limited company incorporated in 1988. Its main activity is: Construction of roads and motorways. Its registered office is in Malmedy. It employs on average 180,5 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0434.648.486
Incorporation: 25/06/1988
Legal form: Public limited company
Registered office: Xhoffraix-Au-dessus des Trous 4
4960 Malmedy · WallonieSee on map
Contributed capital: 223 200,00 €
Latest accounts: 31/12/2025
Average workforce: 180,5 ETP

Activities (NACE)

42110Construction of roads and motorways· main 42110Construction of roads and motorways 45230Maintenance and repair of motor vehicles 08111Quarrying of ornamental and building stone, limestone, gypsum, chalk and slate 08111Quarrying of ornamental and building stone, limestone, gypsum, chalk and slate 14110Manufacture of leather clothes+12

Joint committees (5)

10202
124
200
200 et 124
218

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 22 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	40,1 M €	-1.2%	40,6 M €	+12.3%	36,1 M €	+19.2%	30,3 M €	+16.1%	26,1 M €
EBITDA	4,6 M €	-5.4%	4,9 M €	+32.6%	3,7 M €	+19.4%	3,1 M €	+66.6%	1,9 M €
Operating result	2,7 M €	+1.0%	2,7 M €	+45.3%	1,9 M €	+49.4%	1,2 M €	+420%	239 k €
Net result	1,4 M €	-17.4%	1,7 M €	+17.1%	1,5 M €	+136%	625 k €	+2548%	-25,5 k €
Balance sheet
Equity	8 M €	+21.6%	6,6 M €	+35.5%	4,9 M €	+43.3%	3,4 M €	+22.4%	2,8 M €
Total assets	39,9 M €	+17.7%	33,9 M €	+22.4%	27,7 M €	+6.1%	26,1 M €	+6.2%	24,6 M €
Cash	1,2 M €	-37.9%	1,9 M €	+51.4%	1,3 M €	+50.0%	837,8 k €	-22.7%	1,1 M €
Debts	31,8 M €	+16.9%	27,2 M €	+19.8%	22,7 M €	+0.5%	22,6 M €	+3.6%	21,8 M €
Other
Workforce	180,5 ETP	+4.6%	172,5 ETP	-4.0%	179,6 ETP	+1.1%	177,6 ETP	+6.1%	167,4 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 6 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Alexandre David	Director01/07/2014 → 31/12/2029
FINEL1004.268.318Represented by Charles NELLES	Andere functie01/01/2024 → 31/12/2029Managing director01/01/2024 → 2024 accountsended
Jean NELLES	Director23/12/2023 → 22/12/2029

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Alexandre Jean S David	Director01/07/2014 → 2018 accounts
3R, Leboutte & C°0460.983.491	Auditor01/09/2008 → 2009 accounts
scprl D.LEBOUTTE & C°0465.301.080	Auditor01/09/2008 → 2008 accounts
Charles NELLES	Managing director28/09/2007 → 2011 accounts

Other companies at this address

Xhoffraix-Au-dessus des Trous 4 4960 Malmedy

Company	CBE no.
BETON NELLES RECYCLAGE● Active	0458.654.701
Dimitri Blaise, Pierres Naturelles● Active	0825.792.474
Foncière des Fagnes● Active	0801.289.185
HOLLOGNE DEVELOPPEMENT● Active	1006.328.577
KBO Développement● Active	1039.838.218
NB BETON● Active	0695.637.280
NELLES - COP ET PORTIER● Active	1029.610.854
NELLES FRERES SA - COMUREX SPRL● Active	0650.752.907
NELLES FRERES SA - LES ENROBES DU GERNY SA● Active	0762.732.279
Nelles Frères SA - Travaux et Rénovation SPRL - SASPJ● Active	0719.954.784
NELLES GROUPE● Active	0508.506.464
NELLES RECYCLAGE● Active	0466.419.748
NELLES - SOCOGETRA● Active	1034.131.351
NELLES TRANSPORTS● Active	0465.376.009
NELLES-TRBA● Active	1007.937.688
SM NELLES BODARWE - n68 Grand-Halleux● Active	0804.743.870
SM Nelles Frères - Bernard Construction - Cordeel Zetel - Aertssen● Active	0764.429.086
SM NELLES FRERES - BODARWE - TRAGECO● Active	0769.816.546
SM NELLES FRERES - CONTACT FORESTIER● Active	0743.924.474
SM Nelles frères - Contact Forestier - Legros J● Active	0719.253.614

Full financial information

Source · NBB

	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	10/07/2026	09/07/2025	17/08/2024	25/08/2023	17/08/2022	26/08/2021
General meeting	30/06/2026	27/06/2025	28/06/2024	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

Financial ratios

Source · NBB

Looking for more information about this company?

Try for free

Annual accounts filings

Source · NBB, 22 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	10/07/2026	French	PDF
Full model	31/12/2024	27/06/2025	09/07/2025	French	PDF
Full model	31/12/2023	28/06/2024	17/08/2024	French	PDF
Full model	31/12/2022	30/06/2023	25/08/2023	French	PDF
Full model	31/12/2021	30/06/2022	17/08/2022	French	PDF
Full model	31/12/2020	30/06/2021	26/08/2021	French	PDF
Full model	31/12/2019	30/06/2020	27/08/2020	French	PDF
Full model	31/12/2018	11/06/2019	22/08/2019	French	PDF
Full model	31/12/2017	29/06/2018	21/08/2018	French	PDF
Full model	31/12/2016	09/06/2017	23/08/2017	French	PDF
Full model	31/12/2015	10/06/2016	19/08/2016	French	PDF
Full model	31/12/2014	30/05/2015	24/08/2015	French	PDF
Full modelCorrection	31/12/2013	30/05/2014	17/09/2014	French	PDF
Full model	31/12/2013	30/05/2014	11/08/2014	French	PDF
Full model	31/12/2012	27/06/2013	29/08/2013	French	PDF
Full model	31/12/2011	21/06/2012	29/08/2012	French	PDF
Full model	31/12/2010	21/06/2011	24/08/2011	French	PDF
Full model	31/12/2009	30/06/2010	16/08/2010	French	PDF
Full model	31/12/2008	30/05/2009	01/07/2009	French	PDF
Full modelCorrection	31/12/2007	22/08/2008	06/11/2008	French	PDF
Full model	31/12/2007	22/08/2008	28/08/2008	French	PDF
Abridged model	31/12/2006	27/05/2007	14/08/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 · 6 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Alexandre David	Director01/07/2014 → 31/12/2029
FINEL1004.268.318Represented by Charles NELLES	Andere functie01/01/2024 → 31/12/2029Managing director01/01/2024 → 2024 accountsended
Jean NELLES	Director23/12/2023 → 22/12/2029

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Alexandre Jean S David	Director01/07/2014 → 2018 accounts
3R, Leboutte & C°0460.983.491	Auditor01/09/2008 → 2009 accounts
scprl D.LEBOUTTE & C°0465.301.080	Auditor01/09/2008 → 2008 accounts
Charles NELLES	Managing director28/09/2007 → 2011 accounts

Ownership and network

Looking for more information about this company?

Try for free

Belgian Official Gazette publications

Source · Belgian Official Gazette

Other09/07/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS
PDF
Restructuring27/05/2024
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates19/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Mandates02/10/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates18/09/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates28/07/2020
DEMISSIONS, NOMINATIONS
PDF
Other06/05/2019
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates02/08/2017
DEMISSIONS, NOMINATIONS
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

FINEL

Jean NELLES

Alexandre David

Alexandre Jean S David

3R, Leboutte & C°

scprl D.LEBOUTTE & C°

Maria THUNUS

Charles NELLES

Sylvie HEINRICHS

198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026202720282029

NELLES FRERES

Xhoffraix-Au-dessus des Trous 4, 4960 Malmedy

Andere functie

Director

Auditor

Director

Managing director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Xhoffraix-Au-dessus des Trous 4, 4960 MalmedyCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00278760

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
NELLES FRERESCurrent	accounts 2006 → 2025	Accounts 2025 · 2026-00278760

Events

2025
Annual accounts 20251,4 M €↓
2024
Annual accounts 20241,7 M €↑
2023
Annual accounts 20231,5 M €↑
2022
Annual accounts 2022625 k €↑
2021
Annual accounts 2021-25,5 k €↓
2020
Annual accounts 2020-13,6 k €↓
2019
Annual accounts 201958,2 k €↑
2018
Annual accounts 2018728 €↓
2017
Annual accounts 2017782,8 €↑
2016
Annual accounts 2016-102,2 k €↓
2015
Annual accounts 2015260,4 k €↑
2014
Annual accounts 2014-97,5 k €↓
2013
Annual accounts 2013245,1 k €↑
2012
Annual accounts 201271,1 k €↓
2011
Annual accounts 201188,9 k €↑
2010
Annual accounts 2010-229 k €↓
2009
Annual accounts 2009-207,8 k €↓
2008
Annual accounts 2008247 k €↓
2007
Annual accounts 2007540,8 k €↑
2006
Annual accounts 2006206,3 k €
25/06/1988
IncorporationPublic limited company

NELLES FRERES

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events