ACTIVE

Mastercard Europe

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Financial year 2025 · closed on 31/12/2025

Net result

2,0 Md €

+24.4% YoY

Revenue

9,6 Md €

+31.1% YoY

Equity

657,8 M €

+130.1% YoY

Workforce

2 358,7 ETP

+24.1% YoY

What does Mastercard Europe do?

Mastercard Europe is a Public limited company incorporated in 1992. Its main activity is: Other information technology and computer service activities. Its registered office is in Waterloo. It employs on average 2 358,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0448.038.446

Incorporation

01/09/1992

Legal form

Public limited company

Registered office

Chaussée de Tervuren 198A
1410 Waterloo · WallonieSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2025

Average workforce

2 358,7 ETP

Activities (NACE)

62090Other information technology and computer service activities· main 62900Computer programming, consultancy and related activities 66199Other activities auxiliary to financial services, except insurance and pension funding 66199Other activities auxiliary to financial services, except insurance and pension funding 67130Autres auxiliaires financiers 72600Scientific research and development+4

Joint committees (2)

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2011		2009
Income statement
Revenue	9,6 Md €	+31.1%	7,3 Md €	+9.7%	6,7 Md €	+25.7%	5,3 Md €	+22.6%	4,3 Md €	-8.5%	4,8 Md €	+3.2%	4,6 Md €	+27.5%	3,6 Md €	+23.9%	2,9 Md €	+26.0%	2,3 Md €	+17.0%	2,0 Md €	+10.8%	1,8 Md €	+34.7%	1,3 Md €	+28.6%	1,0 Md €
EBITDA	2,4 Md €	+11.8%	2,1 Md €	+14.8%	1,8 Md €	+32.6%	1,4 Md €	+23.9%	1,1 Md €	-13.9%	1,3 Md €	+60.9%	807,4 M €	-6.3%	861,3 M €	+46.6%	587,5 M €	+22.3%	480,4 M €	-38.8%	785,0 M €	+6.4%	737,9 M €	+161%	283,1 M €	+5.7%	267,9 M €
Operating result	2,6 Md €	+25.1%	2,1 Md €	+12.2%	1,9 Md €	+34.1%	1,4 Md €	+25.5%	1,1 Md €	-14.1%	1,3 Md €	+61.3%	796,3 M €	-6.7%	853,5 M €	+47.7%	578,1 M €	+21.7%	475,2 M €	-39.0%	778,7 M €	+6.3%	732,6 M €	+161%	280,2 M €	+6.4%	263,4 M €
Net result	2,0 Md €	+24.4%	1,6 Md €	+15.4%	1,4 Md €	+33.9%	1,0 Md €	+27.0%	815,3 M €	-8.4%	889,9 M €	+121%	402,4 M €	-26.9%	550,8 M €	+47.2%	374,2 M €	+14.9%	325,7 M €	-73.1%	1,2 Md €	+34.0%	905,2 M €	+365%	194,8 M €	+3.5%	188,1 M €
Balance sheet
Equity	657,8 M €	+130%	285,8 M €	-8.8%	313,3 M €	-13.9%	363,8 M €	+6.8%	340,7 M €	-71.8%	1,2 Md €	+68.3%	717,2 M €	+128%	314,8 M €	-8.5%	344,0 M €	+1.6%	338,7 M €	-45.3%	619,0 M €	-45.2%	1,1 Md €	+193%	385,6 M €	+49.8%	257,4 M €
Total assets	6,1 Md €	+32.3%	4,6 Md €	+8.6%	4,2 Md €	+12.1%	3,8 Md €	-8.8%	4,1 Md €	+25.8%	3,3 Md €	-13.5%	3,8 Md €	-1.4%	3,9 Md €	+21.0%	3,2 Md €	+8.4%	2,9 Md €	+3.7%	2,8 Md €	-12.6%	3,2 Md €	+83.4%	1,8 Md €	+28.3%	1,4 Md €
Cash	265,2 M €	-27.8%	367,6 M €	+26.9%	289,7 M €	-23.9%	380,6 M €	+26.7%	300,4 M €	-9.4%	331,7 M €	-15.6%	392,8 M €	-6.2%	419,0 M €	-37.8%	673,8 M €	-28.7%	945,7 M €	+35.9%	696,1 M €	-24.0%	915,7 M €	+141%	379,7 M €	+92.7%	197,1 M €
Debts	4,9 Md €	+24.0%	3,9 Md €	+5.9%	3,7 Md €	+16.4%	3,2 Md €	-11.9%	3,6 Md €	+89.7%	1,9 Md €	-19.4%	2,4 Md €	-31.5%	3,4 Md €	+24.2%	2,8 Md €	+9.6%	2,5 Md €	+18.4%	2,1 Md €	+5.7%	2,0 Md €	+51.8%	1,3 Md €	+26.4%	1,1 Md €
Other
Workforce	2 358,7 ETP	+24.1%	1 900,0 ETP	+9.6%	1 733,0 ETP	+19.0%	1 456,2 ETP	+10.5%	1 318,2 ETP	-0.8%	1 328,8 ETP	+13.4%	1 172,2 ETP	-2.4%	1 200,6 ETP	+10.0%	1 091,5 ETP	+6.1%	1 028,8 ETP	+3.1%	997,6 ETP	+8.8%	916,7 ETP	+48.5%	617,4 ETP	+16.9%	528,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

more than 1.000 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 9 active · 27 ended

Active mandates

Kelly Devine

Director · since 01 septembre 2025 · until 31 août 2031

Active

Jorn Lambert

Director · since 11 février 2025 · until 10 février 2031

Active

McLaughlin Edward

Director · since 11 février 2025 · until 10 février 2031

Active

Max Lanckriet

Director · since 12 novembre 2024 · until 12 novembre 2030

Active

Vivian ZHOU

Director · since 15 novembre 2022 · until 14 novembre 2028

Active

Ilya Riaby

Director · since 22 juin 2022 · until 21 juin 2028

Active

Giulio Rindi

Director · since 01 juin 2021 · until 31 mai 2027

Active

Catherine Elisabeth Langlais

Director · since 26 avril 2021 · until 25 avril 2027

Active

Ineke Bussemaker

Director · since 26 avril 2021 · until 25 avril 2027

Active

Ended mandates

Alfred KAMANJA KIBE

Director · since 01 avril 2021 · until 31 mars 2027

Ended

Bruno BAUGNIES

Director · since 01 avril 2021 · until 31 mars 2027

Ended

Jennifer Riddell Rademaker

Director · since 01 avril 2021 · until 31 mars 2027

Ended

Raj SESHADRI

Director · since 01 avril 2021 · until 31 mars 2027

Ended

At this address

Other companies at this address

Company	CBE no.
MASTERCARD JUPITER INVESTMENTS● Active	0830.805.493
Mastercard Transaction Services (Europe)● Active	0549.987.921

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	m121-f-p
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	26/05/2026	04/07/2025	23/05/2024	31/05/2023	02/06/2022	07/06/2021
General meeting	29/04/2026	27/05/2025	17/05/2024	30/05/2023	31/05/2022	01/01/9999
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	USD
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

40 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	29/04/2026	26/05/2026	French	PDF
Full model	31/12/2024	27/05/2025	04/07/2025	French	PDF
m121-f-p	31/12/2024	12/02/2025	27/06/2025	French	PDF
Full model	31/12/2023	17/05/2024	23/05/2024	French	PDF
Full model	31/12/2022	30/05/2023	31/05/2023	French	PDF
m121-f-p	31/12/2022	14/02/2023	09/05/2023	French	PDF
Full model	31/12/2021	31/05/2022	02/06/2022	French	PDF
m121-f-p	31/12/2021	11/02/2022	09/05/2022	French	PDF
Full model	31/12/2020	25/05/2021	02/06/2021	French	PDF
m121-f-p	31/12/2020	01/01/9999	07/06/2021	French	PDF
Full model	31/12/2019	26/05/2020	25/06/2020	French	PDF
m121-f-p	31/12/2019	01/01/9999	25/06/2020	French	PDF
Full model	31/12/2018	28/05/2019	18/06/2019	French	PDF
m121-f-p	31/12/2018	01/01/9999	23/05/2019	French	PDF
Full model	31/12/2017	27/04/2018	07/05/2018	French	PDF
m121-f-p	31/12/2017	01/01/9999	09/05/2018	French	PDF
Full model	31/12/2016	30/05/2017	23/06/2017	French	PDF
m121-f-p	31/12/2016	01/01/9999	17/07/2017	French	PDF
Full model	31/12/2015	21/06/2016	17/08/2016	French	PDF
m121-f-p	31/12/2015	01/01/9999	13/07/2016	French	PDF
Full model	31/12/2014	26/05/2015	29/06/2015	French	PDF
m121-f-p	31/12/2014	01/01/9999	13/07/2016	French	PDF
Full modelCorrection	31/12/2013	27/05/2014	11/12/2014	French	PDF
Full model	31/12/2013	27/05/2014	20/06/2014	French	PDF

View all 40 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

more than 1.000 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 · 9 active · 27 ended

Active mandates

Kelly Devine

Director · since 01 septembre 2025 · until 31 août 2031

Active

Jorn Lambert

Director · since 11 février 2025 · until 10 février 2031

Active

McLaughlin Edward

Director · since 11 février 2025 · until 10 février 2031

Active

Max Lanckriet

Director · since 12 novembre 2024 · until 12 novembre 2030

Active

Vivian ZHOU

Director · since 15 novembre 2022 · until 14 novembre 2028

Active

Ilya Riaby

Director · since 22 juin 2022 · until 21 juin 2028

Active

Giulio Rindi

Director · since 01 juin 2021 · until 31 mai 2027

Active

Catherine Elisabeth Langlais

Director · since 26 avril 2021 · until 25 avril 2027

Active

Ineke Bussemaker

Director · since 26 avril 2021 · until 25 avril 2027

Active

Ended mandates

Alfred KAMANJA KIBE

Director · since 01 avril 2021 · until 31 mars 2027

Ended

Bruno BAUGNIES

Director · since 01 avril 2021 · until 31 mars 2027

Ended

Jennifer Riddell Rademaker

Director · since 01 avril 2021 · until 31 mars 2027

Ended

Raj SESHADRI

Director · since 01 avril 2021 · until 31 mars 2027

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other14/08/2026
Délégation de pouvoirs
PDF
Mandates26/05/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates18/09/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates30/07/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates06/06/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates28/02/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates14/02/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates16/12/2024
DEMISSIONS, NOMINATIONS
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

29/04/2026
reconductionBV PwC Réviseurs d'Entreprises — commissaire
2025
Annual accounts 20252,0 Md €↑
01/09/2025
nominationKelly Devine — administrateur
11/02/2025
nominationJorn Bert G. Lambert — administrateur
11/02/2025
nominationEdward Grunde MC Laughlin — administrateur
06/01/2025
nominationGriet Helsen — représentant du commissaire
12/11/2024
nominationMax Leon M. Lanckriet — administrateur
15/07/2024
nominationPeter D'hondt — représentant du commissaire PwC Bedrijfsrevisoren BV/PwC Reviseurs d'Entreprises SRL
2023
Annual accounts 20231,6 Md €↑
18/12/2023
nominationJames Robert Gerhart — mandataire
18/12/2023
nominationJason George Zamichiei — mandataire
18/12/2023
nominationIndraneel Ganguly — mandataire
18/12/2023
nominationVivian Yunning Zhou — mandataire
26/09/2023
nominationGriet Helsen — représentant du commissaire PwC Bedrijfsrevisoren BV/PwG Reviseurs d'Entreprises SRL
30/05/2023
nominationJames Robert Gerhart — mandataire
30/05/2023
nominationJason George Zamichiei — mandataire
30/05/2023
nominationIndraneel Ganguly — mandataire
30/05/2023
nominationYun Ning Zhou — mandataire
30/05/2023
reconductionBV PwC Réviseurs d'Entreprises — commissaire
2022
Annual accounts 20221,4 Md €↑
15/11/2022
nominationYun Ning (Vivian) Zhou — administrateur
22/06/2022
reconductionIlya Riaby — administrateur
06/04/2022
nominationFrancis Martin Falzon — mandataire
06/04/2022
nominationJason George Zamichiei — mandataire
06/04/2022
nominationDavid Michael Reusch — mandataire
06/04/2022
nominationAlfred Kamanja Kibe — mandataire
28/01/2022
revocationAlfred Kamanja Kibe — mandataire
28/01/2022
revocationJoshua Krongold — mandataire
28/01/2022
revocationNaveen Garg — mandataire
28/01/2022
nominationAlfred Kamanja Kibe — mandataire
28/01/2022
nominationJoshua Krongold — mandataire
28/01/2022
nominationNaveen Garg — mandataire
2021
Annual accounts 20211,0 Md €↑
2020
Annual accounts 2020815,3 M €↓
2019
Annual accounts 2019889,9 M €↑
2018
Annual accounts 2018402,4 M €↓
2017
Annual accounts 2017550,8 M €↑
2016
Annual accounts 2016374,2 M €↑
2015
Annual accounts 2015325,7 M €↓
29/07/2015
revocationIssidor lliev — mandataire
2014
Annual accounts 20141,2 Md €↑
2013
Annual accounts 2013905,2 M €↑
2011
Annual accounts 2011194,8 M €↑
2009
Annual accounts 2009188,1 M €
01/09/1992
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

Mastercard Europe

Overview

What does Mastercard Europe do?

Trend over 14 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