ACTIVE

ECORE BELGIUM

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Financial year 2025 · Closed on 30/09/2025

Net result3,5 M €-11,6 %over 1 year

Revenue90,9 M €-35,3 %over 1 year

Equity37,2 M €+10,4 %over 1 year

Workforce35,1 ETP-5,6 %over 1 year

Identity

Source · BCE/KBO

ECORE BELGIUM is a Public limited company incorporated in 1993. Its main activity is: Sewerage. Its registered office is in Aubange. It employs on average 35,1 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0449.937.765
Incorporation: 23/04/1993
Legal form: Public limited company
Registered office: ZONING INDUSTRIEL AUBANGE 0
6790 Aubange · WallonieSee on map
Contributed capital: 10 628 618,76 €
Latest accounts: 30/09/2025
Average workforce: 35,1 ETP

Activities (NACE)

37100Sewerage· main 38210Treatment and disposal of non-hazardous waste 38322Recovery of sorted materials 46720Wholesale of metals and metal ores 46820Wholesale trade, except of motor vehicles and motorcycles 51520Air transport

Joint committees (4)

14201
200
2000
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 21 filings

Trend over 16 financial years

	2025		2024		2023		2022		2019
Income statement
Revenue	90,9 M €	-35.3%	140,4 M €	-18.7%	172,8 M €	-4.0%	180 M €	+66.2%	108,3 M €
EBITDA	5,9 M €	-28.5%	8,3 M €	-26.6%	11,3 M €	+4.4%	10,8 M €	+158%	4,2 M €
Operating result	3,4 M €	-30.9%	4,9 M €	-39.0%	8 M €	-0.6%	8 M €	+249%	2,3 M €
Net result	3,5 M €	-11.6%	4 M €	-44.3%	7,2 M €	-1.1%	7,2 M €	+239%	2,1 M €
Balance sheet
Equity	37,2 M €	+10.4%	33,7 M €	+13.4%	29,7 M €	+31.7%	22,6 M €	+136%	9,6 M €
Total assets	51,7 M €	-10.5%	57,8 M €	-15.8%	68,6 M €	+35.2%	50,8 M €	+59.7%	31,8 M €
Cash	1,6 M €	-11.2%	1,8 M €	+101%	909,9 k €	-50.7%	1,8 M €	+170%	683,7 k €
Debts	14,5 M €	-39.8%	24,1 M €	-38.1%	38,9 M €	+38.0%	28,2 M €	+27.2%	22,2 M €
Other
Workforce	35,1 ETP	-5.6%	37,2 ETP	-2.6%	38,2 ETP	-6.1%	40,7 ETP	+14.6%	35,5 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Board of directors

Source · NBB, accounts to 30/09/2025

3 active · 6 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
DERICHEBOURG Belgium0401.733.121Represented by Bernard Goffinet	Directorsince 23/10/2025
Abderrahmane El Aoufir	Director17/12/2021 → 16/01/2027
Ecore LuxembourgRepresented by Patrick Labranche	Director15/01/2016 → 16/01/2027

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Jean-François Varagne	Director27/07/2017 → 21/01/2022Registered tax expert27/07/2017 → 2020 accounts
Bruce Monnier	Director30/03/2012 → 2015 accounts

Full financial information

Source · NBB

	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	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	02/02/2026	28/02/2025	12/06/2024	03/02/2023	11/01/2022	24/02/2021
General meeting	16/01/2026	24/02/2025	31/05/2024	20/01/2023	16/12/2021	12/02/2021
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, 21 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	30/09/2025	16/01/2026	02/02/2026	French	PDF
Full model	30/09/2024	24/02/2025	28/02/2025	French	PDF
Full model	30/09/2023	31/05/2024	12/06/2024	French	PDF
Full model	30/09/2022	20/01/2023	03/02/2023	French	PDF
Full model	30/09/2021	16/12/2021	11/01/2022	French	PDF
Full model	30/09/2020	12/02/2021	24/02/2021	French	PDF
Full model	30/09/2019	17/01/2020	03/02/2020	French	PDF
Full model	30/09/2018	08/02/2019	05/03/2019	French	PDF
Full model	30/09/2017	21/03/2018	29/03/2018	French	PDF
Full model	30/09/2016	20/01/2017	20/01/2017	French	PDF
Full modelCorrection	30/09/2015	15/01/2016	30/11/2016	French	PDF
Full model	30/09/2015	15/01/2016	21/01/2016	French	PDF
Full model	30/09/2014	09/01/2015	14/01/2015	French	PDF
Full model	30/09/2013	17/01/2014	29/01/2014	French	PDF
Full model	30/09/2012	26/03/2013	26/04/2013	French	PDF
Full model	31/12/2011	08/05/2012	12/07/2012	French	PDF
Full model	31/12/2010	20/06/2011	19/07/2011	French	PDF
Full model	31/12/2009	18/05/2010	22/07/2010	French	PDF
Full model	31/12/2008	19/05/2009	19/08/2009	French	PDF
Full model	31/12/2007	20/05/2008	29/10/2008	French	PDF
Full model	31/12/2006	15/05/2007	18/06/2007	French	PDF

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.

Board of directors

Source · NBB, accounts to 30/09/2025

3 active · 6 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
DERICHEBOURG Belgium0401.733.121Represented by Bernard Goffinet	Directorsince 23/10/2025
Abderrahmane El Aoufir	Director17/12/2021 → 16/01/2027
Ecore LuxembourgRepresented by Patrick Labranche	Director15/01/2016 → 16/01/2027

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Jean-François Varagne	Director27/07/2017 → 21/01/2022Registered tax expert27/07/2017 → 2020 accounts
Bruce Monnier	Director30/03/2012 → 2015 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates09/04/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates23/10/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates11/01/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates24/03/2022
DEMISSIONS, NOMINATIONS
PDF
Capital / shares26/04/2021
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates15/10/2020
DEMISSIONS, NOMINATIONS
PDF
Capital / shares28/12/2018
CAPITAL, ACTIONS
PDF
Other26/11/2018
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF

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

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Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings16 filings

Mandates

DERICHEBOURG Belgium

Abderrahmane El Aoufir

Ecore Luxembourg

Jean-François Varagne

Guillaume Dauphin

Bruce Monnier

Roland Metzler

Recylux Group s.a.

Franck Sertic

19931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024202520262027

ECORE BELGIUM

Zoning Industriel -, 6790 Aubange

Director

DirectorRegistered tax expert

Director

Chairman of the board of directors

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
ZONING INDUSTRIEL AUBANGE 0, 6790 AubangeCurrent		CBE
Zoning Industriel -, 6790 Aubange	accounts 2022 → 2025	Accounts 2025 · 2026-00033167

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
ECORE BELGIUMCurrent	accounts 2022 → 2025	Accounts 2025 · 2026-00033167

Events

23/10/2025
nominationSA Derichebourg Belgium · administrateur
2025
Annual accounts 20253,5 M €↓
2024
Annual accounts 20244 M €↓
2023
Annual accounts 20237,2 M €↓
12/09/2023
nominationEY Réviseurs d'Entreprises SRL · commissaire
12/09/2023
nominationEmilie Van Callemont · représentant permanent
01/10/2022
nominationJean-François Bernard · représentant permanent du commissaire aux comptes
2022
Annual accounts 20227,2 M €↑
2019
Annual accounts 20192,1 M €↓
2018
Annual accounts 20184,5 M €↑
2017
Annual accounts 2017549,9 k €↑
2016
Annual accounts 2016-2,6 M €↑
2015
Annual accounts 2015-5,3 M €↓
2014
Annual accounts 2014-4,6 M €↑
2013
Annual accounts 2013-8,8 M €↓
2012
Annual accounts 2012-5,9 M €↑
2011
Annual accounts 2011-14,3 M €↓
2010
Annual accounts 2010995,7 k €↑
2009
Annual accounts 2009-860,5 k €↓
2008
Annual accounts 2008-39,3 k €
23/04/1993
IncorporationPublic limited company

ECORE BELGIUM

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

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