ACTIVE

BELGOSUC

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Financial year 2025 · closed on 31/12/2025

Net result

10,4 M €

-9.8% YoY

Revenue

110 M €

-18.1% YoY

Equity

61,8 M €

+7.4% YoY

Workforce

68,9 ETP

-2.0% YoY

What does BELGOSUC do?

BELGOSUC is a Public limited company incorporated in 1990. Its registered office is in Beernem. It employs on average 68,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0442.350.187

Incorporation

21/12/1990

Legal form

Public limited company

Registered office

Industriepark 20
8730 Beernem · FlandreSee on map

Contributed capital

1 310 000,00 €

Latest accounts

31/12/2025

Average workforce

68,9 ETP

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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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	110 M €	-18.1%	134,3 M €	-5.8%	142,7 M €	+29.5%	110,2 M €	+32.2%	83,4 M €	+16.2%	71,7 M €	+5.6%	67,9 M €	+5.1%	64,6 M €	-2.9%	66,5 M €	+7.4%	61,9 M €	+15.6%	53,6 M €	-5.7%	56,8 M €	-14.7%	66,6 M €	+2.4%	65 M €	+21.3%	53,6 M €	+23.9%	43,3 M €	+6.4%	40,7 M €	-1.5%	41,3 M €	+12.0%	36,9 M €	+10.1%	33,5 M €
EBITDA	14,4 M €	-9.3%	15,8 M €	-25.7%	21,3 M €	+33.2%	16 M €	+44.1%	11,1 M €	+11.4%	10 M €	-7.1%	10,7 M €	+12.7%	9,5 M €	+17.1%	8,1 M €	+0.5%	8,1 M €	+11.1%	7,3 M €	+4.3%	7 M €	+15.4%	6,1 M €	-30.9%	8,7 M €	+72.6%	5,1 M €	+19.9%	4,2 M €	+36.4%	3,1 M €	+56.9%	2 M €	-15.0%	2,3 M €	-5.4%	2,5 M €
Operating result	12,4 M €	-8.9%	13,6 M €	-25.6%	18,3 M €	+31.4%	13,9 M €	+56.5%	8,9 M €	+16.5%	7,6 M €	-5.5%	8,1 M €	+18.3%	6,8 M €	+16.2%	5,9 M €	+3.5%	5,7 M €	+1.8%	5,6 M €	-3.5%	5,8 M €	+18.2%	4,9 M €	-35.5%	7,6 M €	+98.0%	3,8 M €	+29.6%	3 M €	+59.2%	1,9 M €	+97.6%	939,3 k €	-31.1%	1,4 M €	-22.4%	1,8 M €
Net result	10,4 M €	-9.8%	11,5 M €	-21.7%	14,7 M €	+44.3%	10,2 M €	+48.1%	6,9 M €	+17.1%	5,9 M €	+0.9%	5,8 M €	+19.5%	4,9 M €	+23.4%	3,9 M €	+13.6%	3,5 M €	-10.3%	3,9 M €	-3.6%	4 M €	+5.9%	3,8 M €	-29.5%	5,4 M €	+84.1%	2,9 M €	+25.0%	2,3 M €	+95.6%	1,2 M €	+102%	591 k €	-43.2%	1 M €	-20.3%	1,3 M €
Balance sheet
Equity	61,8 M €	+7.4%	57,5 M €	+9.8%	52,3 M €	+18.7%	44,1 M €	+16.0%	38 M €	+11.9%	34 M €	+11.7%	30,4 M €	+13.6%	26,8 M €	+13.7%	23,6 M €	+10.7%	21,3 M €	+9.5%	19,4 M €	+13.6%	17,1 M €	+16.7%	14,6 M €	+17.0%	12,5 M €	+41.6%	8,8 M €	+27.5%	6,9 M €	+49.2%	4,6 M €	+10.8%	4,2 M €	+13.4%	3,7 M €	+14.4%	3,2 M €
Total assets	76,2 M €	+3.2%	73,8 M €	+7.4%	68,7 M €	+17.8%	58,3 M €	+19.0%	49 M €	+16.3%	42,1 M €	-0.9%	42,5 M €	+12.7%	37,7 M €	+11.6%	33,8 M €	+7.3%	31,5 M €	+7.6%	29,2 M €	+14.5%	25,6 M €	+10.2%	23,2 M €	+7.1%	21,6 M €	+25.0%	17,3 M €	+20.9%	14,3 M €	+27.3%	11,2 M €	+10.0%	10,2 M €	-0.0%	10,2 M €	+8.8%	9,4 M €
Cash	20,4 M €	+7.7%	19 M €	+21.5%	15,6 M €	-27.0%	21,4 M €	+18.8%	18 M €	-6.7%	19,3 M €	+15.9%	16,6 M €	+14.9%	14,5 M €	+35.3%	10,7 M €	+151%	4,3 M €	+25.5%	3,4 M €	+563%	511,6 k €	+2.2%	500,4 k €	-78.0%	2,3 M €	-30.5%	3,3 M €	-20.0%	4,1 M €	+124%	1,8 M €	+78.8%	1 M €	-42.5%	1,8 M €	+6.3%	1,7 M €
Debts	14,1 M €	-7.3%	15,2 M €	-0.1%	15,2 M €	+7.7%	14,2 M €	+30.0%	10,9 M €	+35.3%	8 M €	-32.8%	12 M €	+9.9%	10,9 M €	+7.2%	10,2 M €	+0.4%	10,1 M €	+3.5%	9,8 M €	+16.3%	8,4 M €	-0.4%	8,4 M €	-6.4%	9 M €	+7.7%	8,4 M €	+15.1%	7,3 M €	+12.2%	6,5 M €	+8.8%	6 M €	-7.9%	6,5 M €	+5.8%	6,1 M €
Other
Workforce	68,9 ETP	-2.0%	70,3 ETP	+2.9%	68,3 ETP	-3.5%	70,8 ETP	+2.2%	69,3 ETP	+5.5%	65,7 ETP	0.0%	65,7 ETP	+3.1%	63,7 ETP	+12.9%	56,4 ETP	-3.9%	58,7 ETP	+4.8%	56,0 ETP	+3.5%	54,1 ETP	+2.9%	52,6 ETP	+4.6%	50,3 ETP	+13.8%	44,2 ETP	+5.7%	41,8 ETP	+6.9%	39,1 ETP	-2.5%	40,1 ETP	-2.0%	40,9 ETP	+17.5%	34,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 16 ended

Active mandates

Lore VANBELLE

Director · since 06 mai 2024 · until 03 mai 2027

Active

Victor VIENNE

Director · since 02 mai 2023 · until 03 mai 2027

Active

BELGOSUC HOLDING

Managing director · since 03 mai 2021 · until 03 mai 2027 · 0476.116.481

Represented by Paul VANBELLE

Active

Olivier LEBBE

Director · since 03 mai 2021 · until 03 mai 2027

Active

Tim VANBELLE

Director · since 03 mai 2021 · until 03 mai 2027

Active

Ended mandates

Patrick SCHELSTRAETE

Director · since 03 mai 2021 · until 03 mai 2027

Ended

BELGOSUC HOLDING

Managing director · since 04 mai 2015 · until 03 mai 2021 · 0476.116.481

Represented by Paul VANBELLE

Ended

BELGOSUC HOLDING

Managing director · since 04 mai 2015 · until 03 mai 2021 · 0476.116.481

Represented by Paul VANBELLE

Ended

Olivier LEBBE

Director · since 04 mai 2015 · until 03 mai 2021

Ended

At this address

Other companies at this address

Company	CBE no.
BELGOSUC HOLDING● Active	0476.116.481

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	15/05/2026	11/06/2025	07/05/2024	03/05/2023	04/05/2022	05/05/2021
General meeting	04/05/2026	05/05/2025	06/05/2024	02/05/2023	02/05/2022	03/05/2021
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	04/05/2026	15/05/2026	Dutch	PDF
Full model	31/12/2024	05/05/2025	11/06/2025	Dutch	PDF
Full model	31/12/2023	06/05/2024	07/05/2024	Dutch	PDF
Full model	31/12/2022	02/05/2023	03/05/2023	Dutch	PDF
Full model	31/12/2021	02/05/2022	04/05/2022	Dutch	PDF
Full model	31/12/2020	03/05/2021	05/05/2021	Dutch	PDF
Full model	31/12/2019	04/05/2020	05/05/2020	Dutch	PDF
Full model	31/12/2018	06/05/2019	07/05/2019	Dutch	PDF
Full model	31/12/2017	07/05/2018	08/05/2018	Dutch	PDF
Full model	31/12/2016	02/05/2017	03/05/2017	Dutch	PDF
Full model	31/12/2015	02/05/2016	03/05/2016	Dutch	PDF
Full model	31/12/2014	04/05/2015	06/05/2015	Dutch	PDF
Full model	31/12/2013	05/05/2014	07/05/2014	Dutch	PDF
Full model	31/12/2012	06/05/2013	07/05/2013	Dutch	PDF
Full model	31/12/2011	07/05/2012	14/05/2012	Dutch	PDF
Full model	31/12/2010	02/05/2011	03/05/2011	Dutch	PDF
Full model	31/12/2009	03/05/2010	04/05/2010	Dutch	PDF
Full model	31/12/2008	04/05/2009	06/05/2009	Dutch	PDF
Full model	31/12/2007	05/05/2008	07/05/2008	Dutch	PDF
Full model	31/12/2006	07/05/2007	15/05/2007	Dutch	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 16 ended

Active mandates

Lore VANBELLE

Director · since 06 mai 2024 · until 03 mai 2027

Active

Victor VIENNE

Director · since 02 mai 2023 · until 03 mai 2027

Active

BELGOSUC HOLDING

Managing director · since 03 mai 2021 · until 03 mai 2027 · 0476.116.481

Represented by Paul VANBELLE

Active

Olivier LEBBE

Director · since 03 mai 2021 · until 03 mai 2027

Active

Tim VANBELLE

Director · since 03 mai 2021 · until 03 mai 2027

Active

Ended mandates

Patrick SCHELSTRAETE

Director · since 03 mai 2021 · until 03 mai 2027

Ended

BELGOSUC HOLDING

Managing director · since 04 mai 2015 · until 03 mai 2021 · 0476.116.481

Represented by Paul VANBELLE

Ended

BELGOSUC HOLDING

Managing director · since 04 mai 2015 · until 03 mai 2021 · 0476.116.481

Represented by Paul VANBELLE

Ended

Olivier LEBBE

Director · since 04 mai 2015 · until 03 mai 2021

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates21/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/06/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other10/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN - DOEL
PDF
Mandates17/05/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/05/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/06/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/05/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/06/2015
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

04/05/2026
nominationLore Vanbelle — vaste vertegenwoordiger
04/05/2026
reconductionSven Vansteelant — commissaris
2025
Annual accounts 202510,4 M €↓
2024
Annual accounts 202411,5 M €↓
06/05/2024
nominationLore VANBELLE — bestuurder
06/05/2024
nominationRik VIENNE — vaste vertegenwoordiger
2023
Annual accounts 202314,7 M €↑
02/05/2023
nominationVictor VIENNE — bestuurder
02/05/2023
reconductionBV Auditas Bedrijfsrevisoren — commissaris
2022
Annual accounts 202210,2 M €↑
2021
Annual accounts 20216,9 M €↑
2020
Annual accounts 20205,9 M €↑
2019
Annual accounts 20195,8 M €↑
2018
Annual accounts 20184,9 M €↑
2017
Annual accounts 20173,9 M €↑
2016
Annual accounts 20163,5 M €↓
2015
Annual accounts 20153,9 M €↓
2014
Annual accounts 20144 M €↑
2013
Annual accounts 20133,8 M €↓
2012
Annual accounts 20125,4 M €↑
2011
Annual accounts 20112,9 M €↑
2010
Annual accounts 20102,3 M €↑
2009
Annual accounts 20091,2 M €↑
2008
Annual accounts 2008591 k €↓
2007
Annual accounts 20071 M €↓
2006
Annual accounts 20061,3 M €
21/12/1990
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

BELGOSUC

Overview

What does BELGOSUC do?

Trend over 20 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

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