ACTIVE

BELCOTEC

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Financial year 2025 · closed on 31/12/2025

Net result

1 M €

-4.0% YoY

Revenue

38,8 M €

-1.5% YoY

Equity

7,2 M €

+16.8% YoY

Workforce

98,9 ETP

+2.8% YoY

What does BELCOTEC do?

BELCOTEC is a Public limited company incorporated in 1992. Its main activity is: Electrical installation. Its registered office is in Geel. It employs on average 98,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0446.781.010

Incorporation

02/03/1992

Legal form

Public limited company

Registered office

Kleinhoefstraat 8
2440 Geel · FlandreSee on map

Contributed capital

65 000,00 €

Latest accounts

31/12/2025

Average workforce

98,9 ETP

Activities (NACE)

43211Electrical installation· main 43211Electrical installation 43221Plumbing, heat and air-conditioning installation 43221Plumbing, heat and air-conditioning installation

Joint committees (7)

119
124
1240
12400
200
2000
20000

Contacts

2 public details availableLog in to view

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2019		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	38,8 M €	-1.5%	39,4 M €	+7.4%	36,7 M €	+15.0%	31,9 M €	+21.1%	26,3 M €	+10.6%	23,8 M €	+39.0%	17,1 M €	+19.6%	14,3 M €	+14.7%	12,5 M €		–		6,4 M €		–		–		–		–		–		–		–
EBITDA	2,7 M €	+15.7%	2,3 M €	+2.5%	2,3 M €	+30.0%	1,7 M €	+36.7%	1,3 M €	-41.2%	2,2 M €	+83.2%	1,2 M €	-5.0%	1,2 M €	+4.1%	1,2 M €	+90.1%	630,9 k €	+39.6%	451,9 k €	+672%	58,6 k €	+48.5%	39,4 k €	+454%	7,1 k €	-38.2%	11,5 k €	+70.8%	6,7 k €	-67.7%	20,9 k €	+14.3%	18,3 k €
Operating result	2 M €	+17.1%	1,7 M €	-0.5%	1,8 M €	+40.2%	1,3 M €	+54.5%	811,8 k €	-56.3%	1,9 M €	+87.4%	991,4 k €	-8.2%	1,1 M €	+0.8%	1,1 M €	+99.9%	535,9 k €	+37.7%	389,1 k €	+868%	40,2 k €	+1.9%	39,4 k €	+303%	-19,5 k €	-750%	-2,3 k €	+69.1%	-7,4 k €	-210%	6,7 k €	+34.0%	5 k €
Net result	1 M €	-4.0%	1,1 M €	-7.4%	1,2 M €	+72.4%	676,3 k €	+35.8%	497,8 k €	-58.8%	1,2 M €	+94.8%	620,3 k €	+0.3%	618,2 k €	-3.7%	642 k €	+113%	301,6 k €	+27.2%	237,1 k €	+1573%	14,2 k €	-54.0%	30,8 k €	+254%	-20 k €	-556%	-3 k €	+65.7%	-8,9 k €	-307%	4,3 k €	-61.2%	11,1 k €
Balance sheet
Equity	7,2 M €	+16.8%	6,2 M €	+21.3%	5,1 M €	+28.8%	3,9 M €	+5.4%	3,7 M €	+8.7%	3,4 M €	+84.6%	1,9 M €	-1.0%	1,9 M €	+48.9%	1,3 M €	+103%	621,2 k €	+94.4%	319,5 k €	+288%	82,4 k €	+20.8%	68,2 k €	+82.4%	37,4 k €	-34.8%	57,4 k €	-5.0%	60,4 k €	-12.8%	69,3 k €	+6.6%	65 k €
Total assets	26,2 M €	+3.3%	25,4 M €	+117%	11,7 M €	+8.2%	10,8 M €	+6.7%	10,1 M €	+13.9%	8,9 M €	+43.7%	6,2 M €	+12.1%	5,5 M €	+24.0%	4,4 M €	+93.4%	2,3 M €	+25.0%	1,8 M €	+202%	609 k €	+592%	88 k €	-12.3%	100,3 k €	-23.4%	131 k €	-14.7%	153,6 k €	-9.7%	170 k €	+5.1%	161,7 k €
Cash	3,3 M €	+44.4%	2,3 M €	+1.1%	2,3 M €	+72.6%	1,3 M €	-36.1%	2,1 M €	-26.4%	2,8 M €	+384%	576,4 k €	-65.4%	1,7 M €	+51.4%	1,1 M €	+130%	478,6 k €	+18762%	2,5 k €	-96.0%	62,7 k €	+735%	7,5 k €	-78.6%	35,1 k €	+8.2%	32,4 k €	+50.8%	21,5 k €	-72.4%	77,9 k €	+164%	29,5 k €
Debts	19 M €	-0.5%	19,1 M €	+190%	6,6 M €	-3.7%	6,9 M €	+7.5%	6,4 M €	+17.1%	5,4 M €	+26.7%	4,3 M €	+18.7%	3,6 M €	+14.0%	3,2 M €	+91.1%	1,7 M €	+9.5%	1,5 M €	+188%	526,5 k €	+2563%	19,8 k €	-68.6%	62,9 k €	-14.6%	73,7 k €	-20.9%	93,1 k €	-7.5%	100,6 k €	+4.2%	96,6 k €
Other
Workforce	98,9 ETP	+2.8%	96,2 ETP	+0.8%	95,4 ETP	+4.5%	91,3 ETP	+6.7%	85,6 ETP	+32.7%	64,5 ETP	+36.1%	47,4 ETP	+40.7%	33,7 ETP	+21.2%	27,8 ETP	+23.6%	22,5 ETP	+82.9%	12,3 ETP	+193%	4,2 ETP		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 22 ended

Active mandates

Florian Jung

Director · since 30 janvier 2026 · until 12 mai 2031

Active

Oliver Nehring

Director · since 15 novembre 2022 · until 12 mai 2031

Active

Ended mandates

Martinus MEGENS

Director · since 15 novembre 2022 · until 08 mai 2028

Ended

Oliver NEHRING

Director · since 15 novembre 2022 · until 08 mai 2028

Ended

WATERWEG

Director · since 15 novembre 2022 · until 08 mai 2028 · 0558.892.125

Represented by Vangeel JAN

Ended

WATERWEG

Managing director · since 15 novembre 2022 · until 08 mai 2028 · 0558.892.125

Represented by Jan VANGEEL

Ended

At this address

Other companies at this address

Company	CBE no.
Belcotec Technics● Active	0759.431.707

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	18/07/2026	13/07/2025	01/07/2024	13/06/2023	27/07/2022	30/06/2021
General meeting	30/06/2026	30/06/2025	26/06/2024	08/05/2023	30/06/2022	31/05/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	18/07/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	13/07/2025	Dutch	PDF
Full model	31/12/2023	26/06/2024	01/07/2024	Dutch	PDF
Full model	31/12/2022	08/05/2023	13/06/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	27/07/2022	Dutch	PDF
Full model	31/12/2020	31/05/2021	30/06/2021	Dutch	PDF
Full modelCorrection	31/12/2019	11/05/2020	03/07/2020	Dutch	PDF
Full model	31/12/2019	11/05/2020	12/06/2020	Dutch	PDF
Full model	31/12/2018	15/05/2019	13/06/2019	Dutch	PDF
Full model	31/12/2017	29/06/2018	23/07/2018	Dutch	PDF
Abridged model	31/12/2016	01/05/2017	03/05/2017	Dutch	PDF
Abridged model	31/12/2015	12/05/2016	12/05/2016	Dutch	PDF
Abridged model	31/12/2014	03/04/2015	09/04/2015	Dutch	PDF
Abridged model	31/12/2013	14/02/2014	18/02/2014	Dutch	PDF
Abridged model	31/12/2012	30/06/2013	30/07/2013	Dutch	PDF
Abridged model	31/12/2011	20/03/2012	02/05/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	09/06/2011	Dutch	PDF
Abridged model	31/12/2009	07/06/2010	13/07/2010	Dutch	PDF
Abridged model	31/12/2008	01/06/2009	18/06/2009	Dutch	PDF
Abridged model	31/12/2007	02/06/2008	26/06/2008	Dutch	PDF
Abridged model	31/12/2006	04/06/2007	06/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 2 active · 22 ended

Active mandates

Florian Jung

Director · since 30 janvier 2026 · until 12 mai 2031

Active

Oliver Nehring

Director · since 15 novembre 2022 · until 12 mai 2031

Active

Ended mandates

Martinus MEGENS

Director · since 15 novembre 2022 · until 08 mai 2028

Ended

Oliver NEHRING

Director · since 15 novembre 2022 · until 08 mai 2028

Ended

WATERWEG

Director · since 15 novembre 2022 · until 08 mai 2028 · 0558.892.125

Represented by Vangeel JAN

Ended

WATERWEG

Managing director · since 15 novembre 2022 · until 08 mai 2028 · 0558.892.125

Represented by Jan VANGEEL

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/04/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/04/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/03/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/12/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/05/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/11/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares25/11/2022
KAPITAAL - AANDELEN
PDF
Mandates04/10/2021
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

2025
Annual accounts 20251 M €↓
2024
Annual accounts 20241,1 M €↓
2023
Annual accounts 20231,2 M €↑
2022
Annual accounts 2022676,3 k €↑
2021
Annual accounts 2021497,8 k €↓
2019
Annual accounts 20191,2 M €↑
2017
Annual accounts 2017620,3 k €↑
2016
Annual accounts 2016618,2 k €↓
2015
Annual accounts 2015642 k €↑
2014
Annual accounts 2014301,6 k €↑
2013
Annual accounts 2013237,1 k €↑
2012
Annual accounts 201214,2 k €↓
2011
Annual accounts 201130,8 k €↑
2011
Name changeBelcotec
2010
Annual accounts 2010-20 k €↓
2009
Annual accounts 2009-3 k €↑
2008
Annual accounts 2008-8,9 k €↓
2007
Annual accounts 20074,3 k €↓
2006
Annual accounts 200611,1 k €
2006
Name changeJacobs
02/03/1992
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

BELCOTEC

Overview

What does BELCOTEC 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