ACTIVE

W.ALTER

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Financial year 2025 · Closed on 31/12/2025

Net result521,7 k €+620,4 %over 1 year
Gross margin1,7 M €+99,2 %over 1 year
Equity21 M €+2,5 %over 1 year
Workforce7,1 ETP-4,1 %over 1 year

Identity

Source · BCE/KBO

W.ALTER is a Public limited company incorporated in 1995. Its main activity is: Activities of holding companies. Its registered office is in Liège. It employs on average 7,1 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0455.653.441
Incorporation
06/07/1995
Legal form
Public limited company
Registered office
Avenue Maurice-Destenay 13
4000 Liège · WallonieSee on map
Contributed capital
20 179 724,60 €
Latest accounts
31/12/2025
Average workforce
7,1 ETP
Joint committees (2)
  • 10204
  • 200
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 20 filings

Trend over 18 financial years

20252024202320222021
Income statement
Gross margin1,7 M €873,9 k €1,1 M €997,6 k €864,5 k €
EBITDA370,6 k €-454,9 k €-240,2 k €-234,9 k €-136,6 k €
Operating result369,2 k €-457,3 k €-243,9 k €-238,9 k €-139,9 k €
Net result521,7 k €72,4 k €37,1 k €21,3 k €41 k €
Balance sheet
Equity21 M €20,5 M €10,3 M €10,3 M €10,2 M €
Total assets27,6 M €28,5 M €16,6 M €15 M €14,7 M €
Cash8,3 M €12,9 M €1 M €307,7 k €2,6 M €
Debts6,6 M €8,1 M €6,3 M €4,7 M €4,2 M €
Other
Workforce7,1 ETP7,4 ETP7,8 ETP8,2 ETP7,3 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

13 active · 30 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Anne-Sophie TANDEL
Director03/09/2025 → 18/06/2030
Manon MAQUET
Director03/09/2025 → 18/06/2030
Romain THREIS
Director03/09/2025 → 18/06/2030
Sascha PALOTAI
Director03/09/2025 → 18/06/2030
Stéphane EMMANUELIDIS
Director03/09/2025 → 18/06/2030
Françoise PISSART
Director08/05/2024 → 18/06/2030
Gianni INFANTI
Director08/05/2024 → 19/05/2026
Gilles DOUTRELEPONT
Director08/05/2024 → 18/06/2030
Jodie LEGRAND
Director08/05/2024 → 19/05/2026
Philippe GILSON
Director08/05/2024 → 19/05/2026
Sepanta SEHATI
Director08/12/2022 → 19/05/2026
Laurent WENRIC
Director14/07/2021 → 19/05/2026
Virginie XHAUFLAIR
Chairman of the board of directors14/07/2021 → 19/05/2026

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Gilles D'OUTRELEPONT
Director08/05/2024 → 2024 accounts
Jean-François ROBE
Vice-chairman of the board of directors17/03/2023 → 2024 accounts
Lola PETERKENNE
Director14/07/2021 → 08/05/2024

Other companies at this address

Avenue Maurice-Destenay 13 4000 Liège
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0771.407.148
ARCEO● Active
0865.732.522
ARCEO ENGINEERING● Liquidation
0894.304.267
ARJEMO● Active
0887.233.957
B.E. Fin● Active
0419.202.029
BELWING● Active
0674.535.327
CENTRE D'AFFAIRES LIEGE AVROY● Active
0842.182.209
Durobor Real Estate● Active
0843.107.667
Entreprise wallonne pour l'accélération de la transition énergétique● Active
0798.422.341
ESPACE FINANCEMENT● Active
0553.753.006
ESTOR-LUX● Active
0749.614.317
Estor-Lux II● Active
0791.483.574
ESTOR-LUX III● Active
1026.435.588
FNX Ventures● Active
1006.450.422
FONDS DE PARTICIPATION WALLONIE● Active
0554.780.018
GEPART● Active
0871.229.947
GREEN4POWER● Active
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Green for Power - Beta● Active
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Green for Power - Hélios● Active
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Green for Power Holdco● Active
1017.348.767

Full financial information

Source · NBB
202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date25/06/202606/06/202502/07/202413/06/202307/06/202214/06/2021
General meeting16/06/202620/05/202521/05/202416/05/202317/05/202218/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings
ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202516/06/202625/06/2026FrenchPDF
Abridged model31/12/202420/05/202506/06/2025FrenchPDF
Abridged model31/12/202321/05/202402/07/2024FrenchPDF
Abridged model31/12/202216/05/202313/06/2023FrenchPDF
Abridged model31/12/202117/05/202207/06/2022FrenchPDF
Abridged model31/12/202018/05/202114/06/2021FrenchPDF
Abridged model31/12/201919/05/202029/05/2020FrenchPDF
Abridged model31/12/201821/05/201912/06/2019FrenchPDF
Abridged model31/12/201715/05/201829/05/2018FrenchPDF
Full model31/12/201616/05/201702/06/2017FrenchPDF
Full model31/12/201517/05/201631/05/2016FrenchPDF
Full model31/12/201419/05/201526/05/2015FrenchPDF
Full model31/12/201320/05/201405/06/2014FrenchPDF
Full model31/12/201221/05/201322/05/2013FrenchPDF
Full model31/12/201115/05/201229/05/2012FrenchPDF
Full model31/12/201017/05/201119/05/2011FrenchPDF
Full model31/12/200918/05/201025/05/2010FrenchPDF
Full model31/12/200819/05/200909/06/2009FrenchPDF
Full model31/12/200720/05/200827/05/2008FrenchPDF
Full model31/12/200615/05/200724/05/2007FrenchPDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

13 active · 30 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Anne-Sophie TANDEL
Director03/09/2025 → 18/06/2030
Manon MAQUET
Director03/09/2025 → 18/06/2030
Romain THREIS
Director03/09/2025 → 18/06/2030
Sascha PALOTAI
Director03/09/2025 → 18/06/2030
Stéphane EMMANUELIDIS
Director03/09/2025 → 18/06/2030
Françoise PISSART
Director08/05/2024 → 18/06/2030
Gianni INFANTI
Director08/05/2024 → 19/05/2026
Gilles DOUTRELEPONT
Director08/05/2024 → 18/06/2030
Jodie LEGRAND
Director08/05/2024 → 19/05/2026
Philippe GILSON
Director08/05/2024 → 19/05/2026
Sepanta SEHATI
Director08/12/2022 → 19/05/2026
Laurent WENRIC
Director14/07/2021 → 19/05/2026
Virginie XHAUFLAIR
Chairman of the board of directors14/07/2021 → 19/05/2026

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Gilles D'OUTRELEPONT
Director08/05/2024 → 2024 accounts
Jean-François ROBE
Vice-chairman of the board of directors17/03/2023 → 2024 accounts
Lola PETERKENNE
Director14/07/2021 → 08/05/2024

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates17/07/2026
    Conseil d'administration : démission et cooptation
    PDF
  • Mandates19/06/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates04/12/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Other29/08/2025
    DIVERS
    PDF
  • Mandates14/04/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates14/03/2025
    CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates01/08/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates02/12/2022
    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
Filings18 filings
Mandates
Romain THREIS
Manon MAQUET
Sascha PALOTAI
Stéphane EMMANUELIDIS
Anne-Sophie TANDEL
Jodie LEGRAND
Gilles DOUTRELEPONT
Gianni INFANTI
Philippe GILSON
Françoise PISSART
Sepanta SEHATI
Laurent WENRIC
199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024202520262027202820292030
W.ALTERSOCIETE WALLONNE D'ECONOMIE SOCIALE MARCHANDE
Avenue Maurice-Destenay 13, 4000 Liège
Director
Director
Director
Director
Director
Director
Director
Director
Director
Director
Director
Director
CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE
Registered addressPeriodSource
Avenue Maurice-Destenay 13, 4000 LiègeCurrent
accounts 2021 → 2025
Accounts 2025 · 2026-00229175

Company names

Source · NBB annual accounts, CBE
NamePeriodSource
W.ALTERCurrent
accounts 2020 → 2025
Accounts 2025 · 2026-00229175
SOCIETE WALLONNE D'ECONOMIE SOCIALE MARCHANDE
accounts 2008 → 2019
Accounts 2019 · 2020-14300189

Events

  1. 2025
    Annual accounts 2025521,7 k €↑
  2. 2024
    Annual accounts 202472,4 k €↑
  3. 2023
    Annual accounts 202337,1 k €↑
  4. 2022
    Annual accounts 202221,3 k €↓
  5. 2021
    Annual accounts 202141 k €↑
  6. 2020
    Annual accounts 202020,1 k €↑
  7. 2020
    Name changeW.ALTER
  8. 2019
    Annual accounts 2019-27 k €↓
  9. 2018
    Annual accounts 2018-17,1 k €↓
  10. 2017
    Annual accounts 201754,2 k €↑
  11. 2016
    Annual accounts 201635 k €↑
  12. 2015
    Annual accounts 2015-12,7 k €↑
  13. 2014
    Annual accounts 2014-59,7 k €↑
  14. 2013
    Annual accounts 2013-113,5 k €↓
  15. 2012
    Annual accounts 20127,5 k €↑
  16. 2011
    Annual accounts 20116,6 k €↑
  17. 2010
    Annual accounts 2010-2,5 k €↓
  18. 2009
    Annual accounts 200933 k €↓
  19. 2008
    Annual accounts 200888 k €
  20. 06/07/1995
    IncorporationPublic limited company