ACTIVE

BELFIUS IMMO

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Financial year 2025 · closed on 31/12/2025

Net result

3 M €

+25.3% YoY

Revenue

1,4 M €

-40.0% YoY

Equity

88 M €

0.0% YoY

Workforce

4,0 ETP

-11.1% YoY

What does BELFIUS IMMO do?

BELFIUS IMMO is a Public limited company incorporated in 1988. Its registered office is in Saint-Josse-ten-Noode. It employs on average 4,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0436.006.090

Incorporation

25/11/1988

Legal form

Public limited company

Registered office

Place Charles Rogier 11
1210 Saint-Josse-ten-Noode · BruxellesSee on map

Contributed capital

47 404 668,42 €

Latest accounts

31/12/2025

Average workforce

4,0 ETP

Joint committees (1)

Signals

ProfitableSolid equityLow riskPositive cashflowHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2006
Income statement
Revenue	1,4 M €	-40.0%	2,3 M €	+3.5%	2,2 M €	-65.8%	6,6 M €	-38.6%	10,7 M €	+44.6%	7,4 M €	-36.0%	11,6 M €	+156%	4,5 M €	+190%	1,6 M €	-96.4%	43,9 M €	+1672%	2,5 M €	-9.8%	2,7 M €	+314%	662,8 k €	-26.8%	905,6 k €	-86.5%	6,7 M €	+6.1%	6,3 M €	+878%	644,9 k €	-99.8%	345,1 M €
EBITDA	-1,3 M €	-19.2%	-1,1 M €	-14.4%	-988,4 k €	-342%	408,6 k €	-27.9%	566,4 k €	+1259%	41,7 k €	+102%	-2 M €	-31.3%	-1,5 M €	-114%	-714,1 k €	-139%	1,8 M €	+1453%	-134,3 k €	+73.8%	-511,6 k €	-31.1%	-390,4 k €	-1373%	30,7 k €	-39.5%	50,7 k €	-90.6%	541,5 k €	+637%	-100,8 k €	-100%	26,1 M €
Operating result	-1,5 M €	-16.1%	-1,3 M €	-12.2%	-1,2 M €	-665%	210,6 k €	-51.8%	436,6 k €	+275%	-250 k €	+88.0%	-2,1 M €	-59.6%	-1,3 M €	-33.2%	-981,9 k €	-144%	2,2 M €	+229%	-1,7 M €	-166%	-641,6 k €	+40.6%	-1,1 M €	-63.1%	-661,9 k €	-70.8%	-387,5 k €	-487%	100,1 k €	+122%	-454,6 k €	-102%	25,8 M €
Net result	3 M €	+25.3%	2,4 M €	-36.6%	3,7 M €	+41.0%	2,6 M €	-5.4%	2,8 M €	-30.0%	4 M €	+27.6%	3,1 M €	+31236%	10 k €	-99.1%	1,2 M €	-85.7%	8,1 M €	+1291%	-677,7 k €	-115%	4,5 M €	+190%	-5 M €	-1725%	308,1 k €	-40.3%	515,9 k €	+13.7%	453,7 k €	+12.7%	402,4 k €	-98.5%	27,6 M €
Balance sheet
Equity	88 M €	0.0%	88 M €	0.0%	88 M €	0.0%	88 M €	0.0%	88 M €	-2.0%	89,8 M €	0.0%	89,8 M €	+3.6%	86,7 M €	+0.0%	86,7 M €	+1.3%	85,5 M €	+10.4%	77,4 M €	-0.9%	78,1 M €	+6.2%	73,6 M €	-6.4%	78,6 M €	+0.4%	78,3 M €	+0.7%	77,8 M €	+0.6%	77,3 M €	+10.4%	70 M €
Total assets	147,2 M €	+28.1%	114,9 M €	+4.1%	110,4 M €	+0.7%	109,6 M €	-2.1%	112 M €	-0.2%	112,3 M €	+1.7%	110,4 M €	+3.7%	106,5 M €	+0.7%	105,7 M €	+2.0%	103,7 M €	+7.4%	96,5 M €	-0.2%	96,7 M €	+4.8%	92,3 M €	-6.7%	98,9 M €	-1.3%	100,2 M €	+1.1%	99,1 M €	+0.3%	98,8 M €	-10.4%	110,3 M €
Cash	547,9 k €	+25.5%	436,5 k €	-49.1%	857,5 k €	-71.2%	3 M €	-85.8%	21 M €	+155%	8,3 M €	+314%	2 M €	-78.2%	9,2 M €	-62.1%	24,2 M €	-36.8%	38,2 M €	+176%	13,9 M €	+53.6%	9 M €	-5.4%	9,5 M €	+354%	2,1 M €	-89.8%	20,7 M €	+3569%	563,8 k €	-23.0%	732,4 k €	+24.5%	588,5 k €
Debts	59 M €	+121%	26,8 M €	+20.2%	22,3 M €	+3.8%	21,4 M €	-10.0%	23,8 M €	+7.6%	22,2 M €	+10.0%	20,1 M €	+3.2%	19,5 M €	+4.1%	18,7 M €	+4.9%	17,9 M €	-5.5%	18,9 M €	+3.8%	18,2 M €	+0.7%	18,1 M €	-9.5%	20 M €	-7.3%	21,6 M €	+2.4%	21,1 M €	-0.5%	21,2 M €	-46.8%	39,8 M €
Other
Workforce	4,0 ETP	-11.1%	4,5 ETP	+18.4%	3,8 ETP	+8.6%	3,5 ETP	+84.2%	1,9 ETP	-17.4%	2,3 ETP	+4.5%	2,2 ETP	+37.5%	1,6 ETP	+6.7%	1,5 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 · 7 active · 61 ended

Active mandates

Mario De Vry

Director · since 21 janvier 2025 · until 31 décembre 2025

Active

Thierry De Wever

Director · since 21 janvier 2025 · until 09 mai 2028

Active

Gery Milants

Director · since 09 mai 2023 · until 08 mai 2029

Active

Christophe Demain

Director · since 10 mai 2022 · until 09 mai 2028

Active

Dirk Gyselinck

Director · since 10 mai 2022 · until 20 janvier 2025

Active

Patrick Van Tiggel

Director · since 10 mai 2022 · until 09 mai 2028

Active

Franky Tolpe

Director · since 12 mai 2020 · until 12 mai 2026

Active

Ended mandates

Dirk Gyselinck

Director · since 10 mai 2022 · until 09 mai 2028

Ended

Arnaud Frippiat

Director · since 28 avril 2020 · until 04 août 2020

Ended

Franky De Wispelaere

Director · since 20 février 2020 · until 07 juin 2024

Ended

Franky De Wispelaere

Director · since 20 février 2020 · until 07 mai 2026

Ended

At this address

Other companies at this address

Company	CBE no.
BELFIUS ASSET FINANCE HOLDING● Active	0893.860.839
Belfius Asset Management● Active	0654.876.296
BELFIUS ASSURANCES● Active	0405.764.064
Belfius Bank Pillar 2 Group● Active	1015.809.041
BELFIUS BANQUE● Active	0403.201.185
BELFIUS COMMERCIAL FINANCE● Active	0440.627.349
Belfius Equities● Active	0444.229.910
BELFIUS FIDUCIAIRE● Active	0416.799.201
BELFIUS FOUNDATION● Active	0846.556.909
BELFIUS FULLINVEST, SICAV de droit belge● Active	0445.784.878
Belfius Global● Active	0662.402.805
BELFIUS LEASE● Active	0431.916.551
BELFIUS LEASE SERVICES● Active	0427.903.127
BELFIUS MANAGED PORTFOLIO● Active	0685.973.013
BELFIUS OFP● Active	0432.090.755
Belfius Pension Fund Balanced Plus● Active	0737.403.601
Belfius Pension Fund High Equities● Active	0737.404.787
Belfius Pension Fund Low Equities● Active	0737.404.094
Belfius Plan Bonds● Active	0737.403.007
Belfius Plan Equities● Active	0736.977.492

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	18/05/2026	21/05/2025	16/05/2024	01/08/2023	13/10/2022	01/06/2021
General meeting	12/05/2026	13/05/2025	14/05/2024	09/05/2023	07/10/2022	01/06/2021
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

38 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	12/05/2026	18/05/2026	Dutch	PDF
Full model	31/12/2025	12/05/2026	18/05/2026	French	PDF
Full model	31/12/2024	13/05/2025	21/05/2025	French	PDF
Full model	31/12/2024	13/05/2025	21/05/2025	Dutch	PDF
Full model	31/12/2023	14/05/2024	16/05/2024	French	PDF
Full model	31/12/2023	14/05/2024	16/05/2024	Dutch	PDF
Full modelCorrection	31/12/2022	09/05/2023	01/08/2023	Dutch	PDF
Full model	31/12/2022	09/05/2023	16/05/2023	French	PDF
Full model	31/12/2022	09/05/2023	16/05/2023	Dutch	PDF
Full modelCorrection	31/12/2021	07/10/2022	13/10/2022	French	PDF
Full modelCorrection	31/12/2021	07/10/2022	13/10/2022	Dutch	PDF
Full model	31/12/2021	10/05/2022	18/05/2022	French	PDF
Full model	31/12/2021	10/05/2022	18/05/2022	Dutch	PDF
Full model	31/12/2020	01/06/2021	01/06/2021	Dutch	PDF
Full model	31/12/2020	01/06/2021	01/06/2021	French	PDF
Full model	31/12/2019	12/05/2020	13/05/2020	French	PDF
Full model	31/12/2019	12/05/2020	13/05/2020	Dutch	PDF
Full model	31/12/2018	14/05/2019	15/05/2019	Dutch	PDF
Full model	31/12/2018	14/05/2019	15/05/2019	French	PDF
Full model	31/12/2017	08/05/2018	16/05/2018	French	PDF
Full model	31/12/2017	08/05/2018	16/05/2018	Dutch	PDF
Full model	31/12/2016	09/05/2017	17/05/2017	Dutch	PDF
Full model	31/12/2016	09/05/2017	17/05/2017	French	PDF
Full model	31/12/2015	10/05/2016	13/05/2016	French	PDF

View all 38 filings

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 · 7 active · 61 ended

Active mandates

Mario De Vry

Director · since 21 janvier 2025 · until 31 décembre 2025

Active

Thierry De Wever

Director · since 21 janvier 2025 · until 09 mai 2028

Active

Gery Milants

Director · since 09 mai 2023 · until 08 mai 2029

Active

Christophe Demain

Director · since 10 mai 2022 · until 09 mai 2028

Active

Dirk Gyselinck

Director · since 10 mai 2022 · until 20 janvier 2025

Active

Patrick Van Tiggel

Director · since 10 mai 2022 · until 09 mai 2028

Active

Franky Tolpe

Director · since 12 mai 2020 · until 12 mai 2026

Active

Ended mandates

Dirk Gyselinck

Director · since 10 mai 2022 · until 09 mai 2028

Ended

Arnaud Frippiat

Director · since 28 avril 2020 · until 04 août 2020

Ended

Franky De Wispelaere

Director · since 20 février 2020 · until 07 juin 2024

Ended

Franky De Wispelaere

Director · since 20 février 2020 · until 07 mai 2026

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/06/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates03/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/02/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/02/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates25/02/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates25/02/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/10/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates22/10/2024
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

12/05/2026
reconductionTolpe Franky — administrateur
12/05/2026
reconductionTolpe Franky — bestuurder
12/05/2026
nominationWevers Franky — commissaris
01/01/2026
nominationHédi Ben Mahmoud — bestuurder
01/01/2026
nominationBen Mahmoud Hédi — administrateur
2025
Annual accounts 20253 M €↑
21/01/2025
nominationMario De Vry — administrateur
21/01/2025
nominationThierry De Wever — administrateur
21/01/2025
nominationMario De Vry — bestuurder
21/01/2025
nominationThierry De Wever — bestuurder
2024
Annual accounts 20242,4 M €↓
2023
Annual accounts 20233,7 M €↑
09/05/2023
reconductionGery Milants — bestuurder
09/05/2023
reconductionKPMG Bedrijfsrevisoren BV — Commissaris
09/05/2023
reconductionGery Milants — administrateur
09/05/2023
reconductionKPMG Réviseurs d'Entreprise SRL — Commissaire
2022
Annual accounts 20222,6 M €↓
10/05/2022
reconductionDirk Gyselinck — administrateur
10/05/2022
reconductionPatrick Van Tiggel — administrateur
10/05/2022
nominationChristophe Demain — administrateur
10/05/2022
reconductionDirk Gyselinck — bestuurder
10/05/2022
reconductionPatrick Van Tiggel — bestuurder
10/05/2022
nominationChristophe Demain — bestuurder
2021
Annual accounts 20212,8 M €↓
2020
Annual accounts 20204 M €↑
2019
Annual accounts 20193,1 M €↑
2018
Annual accounts 201810 k €↓
2017
Annual accounts 20171,2 M €↓
2016
Annual accounts 20168,1 M €↑
2015
Annual accounts 2015-677,7 k €↓
2014
Annual accounts 20144,5 M €↑
2013
Annual accounts 2013-5 M €↓
2012
Annual accounts 2012308,1 k €↓
2011
Annual accounts 2011515,9 k €↑
2010
Annual accounts 2010453,7 k €↑
2009
Annual accounts 2009402,4 k €↓
2006
Annual accounts 200627,6 M €
25/11/1988
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

BELFIUS IMMO

Overview

What does BELFIUS IMMO do?

Trend over 18 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