ACTIVE

FN Browning Group

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Financial year 2025 · Closed on 31/12/2025

Net result180,5 M €+764,8 %over 1 year

Revenue18,3 M €+12,8 %over 1 year

Equity501,3 M €+103,9 %over 1 year

Workforce29,3 ETP+23,6 %over 1 year

Identity

Source · BCE/KBO

FN Browning Group is a Public limited company incorporated in 1991. Its main activity is: Activities of holding companies. Its registered office is in Herstal. It employs on average 29,3 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0444.340.370
Incorporation: 03/06/1991
Legal form: Public limited company
Registered office: Voie de Liège 33
4040 Herstal · WallonieSee on map
Contributed capital: 302 127 276,00 €
Latest accounts: 31/12/2025
Average workforce: 29,3 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 65231Reinsurance 70200Management consultancy activities 70220Business and other management consultancy activities 74142Specialised design activities

Joint committees (2)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHigh revenue

Financials

Source · NBB, 42 filings

Trend over 17 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	18,3 M €	+12.8%	16,2 M €	+11.7%	14,5 M €	+29.2%	11,3 M €	-0.2%	11,3 M €
EBITDA	201,5 k €	+132%	-631,9 k €	-509%	154,5 k €	-54.6%	340,1 k €	+45.4%	233,9 k €
Operating result	180,2 k €	+128%	-650 k €	-539%	148,1 k €	-56.6%	340,9 k €	+17.0%	291,3 k €
Net result	180,5 M €	+765%	20,9 M €	+51.5%	13,8 M €	+2.6%	13,4 M €	-38.5%	21,8 M €
Balance sheet
Equity	501,3 M €	+104%	245,8 M €	+0.4%	244,9 M €	-0.5%	246,2 M €	+1.4%	242,7 M €
Total assets	689 M €	+117%	317,9 M €	+2.3%	310,8 M €	-0.1%	311,1 M €	-0.3%	312 M €
Cash	44,7 k €	-98.1%	2,4 M €	+46.6%	1,6 M €	-37.6%	2,6 M €	-21.4%	3,3 M €
Debts	187,3 M €	+160%	72 M €	+9.7%	65,7 M €	+1.3%	64,9 M €	-6.3%	69,2 M €
Other
Workforce	29,3 ETP	+23.6%	23,7 ETP	+4.9%	22,6 ETP	+44.9%	15,6 ETP	+13.0%	13,8 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

11 active · 9 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Lionel BLANCHARD	Director01/05/2025 → 21/12/2026
Derrick-Philippe GOSSELIN	Director06/06/2023 → 05/06/2029
Emmanuel BOIS D'ENGHIEN	Director06/06/2023 → 05/06/2029
Fabienne BOZET	Director06/06/2023 → 05/06/2029
Marie-Kristine VANBOCKESTAL	Director06/06/2023 → 05/06/2029
Astrid PIERON	Vice-chairman of the board of directors16/02/2023 → 21/12/2026Director21/12/2020 → 21/12/2026
Yves PRETE	Chairman of the board of directors16/02/2023 → 21/12/2026Director21/12/2020 → 26/12/2026
Julien COMPERE	Director01/10/2021 → 21/12/2026Managing director01/10/2021 → 21/12/2026
Joyce WIECZOREK	Director12/01/2021 → 21/12/2026
Laurent BURTON	Director21/12/2008 → 21/12/2026
Olivier VANDERIJST	Director19/12/2014 → 21/12/2026

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Jean-Sébastien BELLE	Chairman of the board of directors21/12/2020 → 2023 accountsDirector21/12/2020 → 2023 accounts

Other companies at this address

Voie de Liège 33 4040 Herstal

Company	CBE no.
BROWNING● Active	0465.800.136
FN BROWNING GROUP PILLAR 2● Active	1011.666.547
FN HERSTAL● Active	0441.928.931
FONDATION ARS MECHANICA● Active	0899.807.236
FONDS DE PREPENSION HERSTAL asbl● Active	0889.487.921
HERSTAL GROUP SERVICES● Active	0428.043.380
Logistic Support For Land Systems● Active	1024.310.201

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Consolidated accounts
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	22/06/2026	30/06/2025	14/06/2024	26/06/2023	14/06/2022	01/07/2021
General meeting	02/06/2026	03/06/2025	04/06/2024	06/06/2023	07/06/2022	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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 42 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	02/06/2026	22/06/2026	French	PDF
Full model	31/12/2024	03/06/2025	30/06/2025	French	PDF
Consolidated accounts	31/12/2024	03/06/2025	30/06/2025	French	PDF
Full model	31/12/2023	04/06/2024	14/06/2024	French	PDF
Consolidated accounts	31/12/2023	04/06/2024	13/06/2024	French	PDF
Full model	31/12/2022	06/06/2023	26/06/2023	French	PDF
Consolidated accounts	31/12/2022	06/06/2023	07/07/2023	French	PDF
Full model	31/12/2021	07/06/2022	14/06/2022	French	PDF
Consolidated accounts	31/12/2021	07/06/2022	14/06/2022	French	PDF
Full model	31/12/2020	01/06/2021	23/06/2021	French	PDF
Consolidated accounts	31/12/2020	01/06/2021	01/07/2021	French	PDF
Full model	31/12/2019	09/06/2020	01/07/2020	French	PDF
Consolidated accounts	31/12/2019	09/06/2020	03/07/2020	French	PDF
Full model	31/12/2018	04/06/2019	26/06/2019	French	PDF
Consolidated accounts	31/12/2018	04/06/2019	26/06/2019	French	PDF
Full modelCorrection	31/12/2017	05/06/2018	08/10/2018	French	PDF
Full model	31/12/2017	05/06/2018	29/06/2018	French	PDF
Consolidated accounts	31/12/2017	05/06/2018	29/06/2018	French	PDF
Full model	31/12/2016	06/06/2017	23/06/2017	French	PDF
Consolidated accounts	31/12/2016	06/06/2017	23/06/2017	French	PDF
Full model	31/12/2015	07/06/2016	05/07/2016	French	PDF
Consolidated accounts	31/12/2015	07/06/2016	05/07/2016	French	PDF
Full modelCorrection	31/12/2014	02/06/2015	18/12/2015	French	PDF
Full modelCorrection	31/12/2014	02/06/2015	27/10/2015	French	PDF

View all 42 filings

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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

11 active · 9 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Lionel BLANCHARD	Director01/05/2025 → 21/12/2026
Derrick-Philippe GOSSELIN	Director06/06/2023 → 05/06/2029
Emmanuel BOIS D'ENGHIEN	Director06/06/2023 → 05/06/2029
Fabienne BOZET	Director06/06/2023 → 05/06/2029
Marie-Kristine VANBOCKESTAL	Director06/06/2023 → 05/06/2029
Astrid PIERON	Vice-chairman of the board of directors16/02/2023 → 21/12/2026Director21/12/2020 → 21/12/2026
Yves PRETE	Chairman of the board of directors16/02/2023 → 21/12/2026Director21/12/2020 → 26/12/2026
Julien COMPERE	Director01/10/2021 → 21/12/2026Managing director01/10/2021 → 21/12/2026
Joyce WIECZOREK	Director12/01/2021 → 21/12/2026
Laurent BURTON	Director21/12/2008 → 21/12/2026
Olivier VANDERIJST	Director19/12/2014 → 21/12/2026

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Jean-Sébastien BELLE	Chairman of the board of directors21/12/2020 → 2023 accountsDirector21/12/2020 → 2023 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates04/09/2025
DEMISSIONS, NOMINATIONS
PDF
Capital / shares06/06/2025
CAPITAL, ACTIONS
PDF
Mandates19/07/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates18/06/2024
DENOMINATION
PDF
Mandates10/06/2024
DEMISSIONS, NOMINATIONS
PDF
Other21/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET
PDF
Mandates03/08/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates26/06/2023
DEMISSIONS, NOMINATIONS
PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings17 filings

Mandates

Lionel BLANCHARD

Emmanuel BOIS D'ENGHIEN

Fabienne BOZET

Derrick-Philippe GOSSELIN

Marie-Kristine VANBOCKESTAL

Yves PRETE

Astrid PIERON

Julien COMPERE

Joyce WIECZOREK

Olivier VANDERIJST

Laurent BURTON

Laurent LEVAUX

Show the 8 other mandates

199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026202720282029

FN Browning GroupHERSTAL SA

Voie de Liège 33, 4040 Herstal

Director

Chairman of the board of directorsDirector

Vice-chairman of the board of directorsDirector

DirectorManaging director

Director

Vice-chairman of the board of directorsDirector

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Voie de Liège 33, 4040 HerstalCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00180840

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
FN Browning GroupCurrent	accounts 2024 → 2025	Accounts 2025 · 2026-00180840
HERSTAL SA	accounts 2009 → 2023	Accounts 2023 · 2024-00132415

Events

2025
Annual accounts 2025180,5 M €↑
03/06/2025
nominationLionel BLANCHARD · administrateur
03/06/2025
augmentation_capital
2024
Annual accounts 202420,9 M €↑
2024
Name changeFN Browning Group
04/06/2024
nominationPatrick MORTROUX · Commissaire
2023
Annual accounts 202313,8 M €↑
06/06/2023
nominationFabienne Bozet · administrateur
06/06/2023
nominationEmmanuel Boisdenghien · administrateur
06/06/2023
nominationDerrick-Philippe Gosselin · administrateur
06/06/2023
nominationMarie-Christine Vanbockestal · administrateur
2022
Annual accounts 202213,4 M €↓
2021
Annual accounts 202121,8 M €↑
2020
Annual accounts 20206,6 M €↓
2019
Annual accounts 201921 M €↓
2018
Annual accounts 201826 M €↓
2017
Annual accounts 201728,9 M €↑
2016
Annual accounts 201611,5 M €↑
2015
Annual accounts 20159,1 M €↑
2014
Annual accounts 20141 M €↑
2013
Annual accounts 2013-1 M €↑
2012
Annual accounts 2012-1,9 M €↓
2011
Annual accounts 2011-1 M €↑
2010
Annual accounts 2010-1,4 M €↓
2009
Annual accounts 200915,9 M €
03/06/1991
IncorporationPublic limited company

FN Browning Group

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