ACTIVE

LHOIST RECHERCHE ET DEVELOPPEMENT

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Financial year 2025 · Closed on 31/12/2025

Net result-339,4 k €-105,1 %over 1 year
Revenue50,1 M €+2,9 %over 1 year
Equity23,6 M €-1,4 %over 1 year
Workforce94,8 ETP+4,1 %over 1 year

Identity

Source · BCE/KBO

LHOIST RECHERCHE ET DEVELOPPEMENT is a Public limited company incorporated in 1988. Its registered office is in Ottignies-Louvain-la-Neuve. It employs on average 94,8 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0434.971.655
Incorporation
02/08/1988
Legal form
Public limited company
Registered office
Rue Charles Dubois 28
1342 Ottignies-Louvain-la-Neuve · WallonieSee on map
Contributed capital
6 949 266,55 €
Latest accounts
31/12/2025
Average workforce
94,8 ETP
Joint committees (2)
  • 200
  • 218
Signals
Solid equityLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

Financials

Source · NBB, 20 filings

Trend over 18 financial years

20252024202320222021
Income statement
Revenue50,1 M €48,7 M €42,4 M €33,6 M €28,7 M €
EBITDA14,6 M €14,8 M €9,4 M €4 M €4,1 M €
Operating result-666,7 k €6,2 M €568,9 k €-2,4 M €-80 k €
Net result-339,4 k €6,6 M €1,2 M €2,1 M €24 M €
Balance sheet
Equity23,6 M €23,9 M €17,3 M €16,1 M €571,9 M €
Total assets40,4 M €41,2 M €36,2 M €69,8 M €763,8 M €
Cash–––––
Debts12,2 M €13,7 M €15,2 M €51,5 M €190,6 M €
Other
Workforce94,8 ETP91,1 ETP82,2 ETP75,7 ETP75,8 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

6 active · 47 ended

Active mandates

Philipp NIEMANN

Chairman of the board of directors · since 03 décembre 2025 · until 02 juin 2026

Active
AJN Consulting

Managing director · since 15 avril 2024 · until 12 juin 2025 · 1007.702.613

Represented by Vincent Dujardin

Active
Benjamin HENRY

Managing director · since 01 juin 2022 · until 02 juin 2026

Active
Marcos DE AZEVEDO FERREIRA FRANCA

Chairman of the board of directors · since 01 août 2017 · until 03 décembre 2025

Active
Laurent YVON

Managing director · since 01 juin 2015 · until 02 juin 2026

Active
Frédéric MEESSEN

Managing director · since 01 juin 2010 · until 02 juin 2026

Active

Ended mandates

AJN Consulting

Managing director · since 15 avril 2024 · until 03 juin 2025 · 1007.702.613

Represented by Vincent Dujardin

Ended
Benjamin Henry

Director · since 01 juin 2022 · until 07 juin 2022

Ended
Benjamin HENRY

Managing director · since 01 juin 2022 · until 03 juin 2025

Ended
MAXCARD COMPANY

Managing director · since 04 juin 2019 · until 31 mai 2022 · 0477.826.552

Represented by Geoffroy de Myttenaere

Ended

Other companies at this address

Rue Charles Dubois 28 1342 Ottignies-Louvain-la-Neuve
CompanyCBE no.
CARRIERES ET FOURS A CHAUX DUMONT-WAUTIER● Active
0403.948.679
DOLOMIE DE VILLERS-LE-GAMBON● Active
0402.541.189
DOLOMIES DE MARCHE-LES-DAMES● Active
0425.225.234
DOMAINE DE HOYOUX S.A.● Active
0417.330.523
Domaine de Ramezée● Active
0439.100.390
Domaine d'Haveligeoule● Active
0745.715.511
Immobilière Saint-Michel● Active
0420.731.461
IMMO SCLERMONT● Active
0417.203.928
LHOIST● Active
0459.399.522
LHOIST UNITE TVA● Active
0784.388.322
Lim’Art● Active
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LNA Holding● Active
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MB Advice● Active
1013.105.711

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 date27/07/202619/06/202525/06/202416/06/202310/06/202225/06/2021
General meeting02/06/202603/06/202504/06/202406/06/202307/06/202201/06/2021
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 model31/12/202502/06/202627/07/2026FrenchPDF
Full model31/12/202403/06/202519/06/2025FrenchPDF
Full model31/12/202304/06/202425/06/2024FrenchPDF
Full model31/12/202206/06/202316/06/2023FrenchPDF
Full model31/12/202107/06/202210/06/2022FrenchPDF
Full model31/12/202001/06/202125/06/2021FrenchPDF
Full model31/12/201902/06/202024/06/2020FrenchPDF
Full model31/12/201804/06/201925/06/2019FrenchPDF
Full model31/12/201705/06/201825/06/2018FrenchPDF
Full model31/12/201606/06/201727/06/2017FrenchPDF
Full model31/12/201507/06/201624/06/2016FrenchPDF
Full model31/12/201402/06/201524/06/2015FrenchPDF
Full model31/12/201303/06/201423/06/2014FrenchPDF
Full model31/12/201229/04/201328/05/2013FrenchPDF
Full model31/12/201105/06/201228/06/2012FrenchPDF
Full model31/12/201007/06/201122/06/2011FrenchPDF
Full model31/12/200901/06/201028/06/2010FrenchPDF
Full model31/12/200802/06/200926/06/2009FrenchPDF
Full model31/12/200703/06/200817/06/2008FrenchPDF
Full model31/12/200605/06/200704/07/2007FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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

6 active · 47 ended

Active mandates

Philipp NIEMANN

Chairman of the board of directors · since 03 décembre 2025 · until 02 juin 2026

Active
AJN Consulting

Managing director · since 15 avril 2024 · until 12 juin 2025 · 1007.702.613

Represented by Vincent Dujardin

Active
Benjamin HENRY

Managing director · since 01 juin 2022 · until 02 juin 2026

Active
Marcos DE AZEVEDO FERREIRA FRANCA

Chairman of the board of directors · since 01 août 2017 · until 03 décembre 2025

Active
Laurent YVON

Managing director · since 01 juin 2015 · until 02 juin 2026

Active
Frédéric MEESSEN

Managing director · since 01 juin 2010 · until 02 juin 2026

Active

Ended mandates

AJN Consulting

Managing director · since 15 avril 2024 · until 03 juin 2025 · 1007.702.613

Represented by Vincent Dujardin

Ended
Benjamin Henry

Director · since 01 juin 2022 · until 07 juin 2022

Ended
Benjamin HENRY

Managing director · since 01 juin 2022 · until 03 juin 2025

Ended
MAXCARD COMPANY

Managing director · since 04 juin 2019 · until 31 mai 2022 · 0477.826.552

Represented by Geoffroy de Myttenaere

Ended

Ownership and network

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Try for free

Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates07/08/2026
    Nominations statutaires
    PDF
  • Mandates13/02/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates30/10/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates14/07/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates03/07/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates29/05/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates13/11/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates02/06/2023
    DEMISSIONS, NOMINATIONS
    PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025-339,4 k €↓
  2. 04/12/2025
    nominationPhilipp Niemann — Président du Conseil d'administration
  3. 03/12/2025
    nominationPhilipp Niemann — Administrateur
  4. 03/06/2025
    reconductionBenjamin Henry — Administrateur
  5. 03/06/2025
    reconductionFrédéric Meessen — Administrateur
  6. 03/06/2025
    reconductionLaurent Yvon — Administrateur
  7. 03/06/2025
    reconductionMarcos França — Administrateur
  8. 03/06/2025
    reconductionVincent Dujardin — Administrateur (représentant AJN Consulting)
  9. 03/06/2025
    nominationRomuald Bilem — représentant permanent du commissaire (Forvis Mazars)
  10. 2024
    Annual accounts 20246,6 M €↑
  11. 04/06/2024
    reconductionMarcos de Azevedo Ferreira França — administrateur
  12. 04/06/2024
    reconductionLaurent Yvon — administrateur
  13. 04/06/2024
    reconductionMazars Réviseurs d'entreprises SRL — commissaire
  14. 15/04/2024
    nominationAJN Consulting — délégué à la gestion journalière
  15. 08/04/2024
    nominationAJN Consulting — administrateur
  16. 2023
    Annual accounts 20231,2 M €↓
  17. 16/05/2023
    nominationMarcos de Azevedo Ferreira Franga — Président du Conseil d'administration
  18. 2022
    Annual accounts 20222,1 M €↓
  19. 07/06/2022
    reconductionFrédéric Meessen — Administrateur
  20. 01/06/2022
    nominationBenjamin Henry — Administrateur
  21. 2021
    Annual accounts 202124 M €↑
  22. 2020
    Annual accounts 2020-335,6 k €↑
  23. 2019
    Annual accounts 2019-4,8 M €↑
  24. 2018
    Annual accounts 2018-6,9 M €↓
  25. 2017
    Annual accounts 2017-1,4 M €↓
  26. 2016
    Annual accounts 2016-1,2 M €↓
  27. 2015
    Annual accounts 201510,7 M €↑
  28. 2014
    Annual accounts 2014426,3 k €↓
  29. 2013
    Annual accounts 201324,7 M €↑
  30. 2012
    Annual accounts 20124,6 M €↓
  31. 2011
    Annual accounts 201192 M €↑
  32. 2009
    Annual accounts 20091,7 M €↑
  33. 2008
    Annual accounts 20081,3 M €↑
  34. 2007
    Annual accounts 2007135,4 k €
  35. 02/08/1988
    IncorporationPublic limited company