ACTIVE

RECYFUEL

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Financial year 2025 · Closed on 31/12/2025

Net result1,6 M €-5,6 %over 1 year

Revenue30,2 M €+4,8 %over 1 year

Equity14,4 M €+0,4 %over 1 year

Workforce49,6 ETP+9,3 %over 1 year

Identity

Source · BCE/KBO

RECYFUEL is a Public limited company incorporated in 1997. Its main activity is: Sewerage. Its registered office is in Engis. It employs on average 49,6 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0459.735.458
Incorporation: 08/01/1997
Legal form: Public limited company
Registered office: Rue du Parc industriel 16
4480 Engis · WallonieSee on map
Contributed capital: 13 085 532,38 €
Latest accounts: 31/12/2025
Average workforce: 49,6 ETP

Activities (NACE)

37200Sewerage· main 38210Treatment and disposal of non-hazardous waste 38219Treatment and disposal of non-hazardous waste 38323Recovery of sorted materials 38330Materials recovery 90021Support activities to performing arts

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 22 filings

Trend over 10 financial years

	2025		2023		2017		2016		2011
Income statement
Revenue	30,2 M €	+4.8%	28,8 M €	+46.5%	19,6 M €	+9.4%	18 M €	+23.4%	14,6 M €
EBITDA	4,2 M €	+4.3%	4 M €	-3.1%	4,1 M €	+4.7%	4 M €	+5.1%	3,8 M €
Operating result	2,1 M €	-5.2%	2,3 M €	+55.6%	1,5 M €	+17.9%	1,2 M €	+62.8%	756,4 k €
Net result	1,6 M €	-5.6%	1,7 M €	+64.9%	1 M €	+21.8%	846,1 k €	+401%	169 k €
Balance sheet
Equity	14,4 M €	+0.4%	14,3 M €	-0.7%	14,4 M €	-0.7%	14,5 M €	-0.2%	14,6 M €
Total assets	22 M €	+1.7%	21,6 M €	-7.5%	23,3 M €	-5.7%	24,7 M €	-24.4%	32,7 M €
Cash	5,3 M €	+17.1%	4,5 M €	+37.3%	3,3 M €	-6.4%	3,5 M €	+962%	331,7 k €
Debts	6,4 M €	+3.3%	6,2 M €	-24.1%	8,2 M €	-18.5%	10,1 M €	-41.7%	17,3 M €
Other
Workforce	49,6 ETP	+9.3%	45,4 ETP	+3.4%	43,9 ETP	+7.3%	40,9 ETP	+1.5%	40,3 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

4 active · 14 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
DEMISAN0884.531.815Represented by Ivo De Vlieghere	Director12/06/2024 → 12/06/2030
Jean-Benoît Collée	Director15/01/2009 → 12/06/2030
Jérôme Eloy	Director13/06/2018 → 12/06/2030
Noémie Zeligzon	Director14/03/2024 → 12/06/2030

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Eric Trodoux	Director08/06/2016 → 2023 accounts
Sunnira Ly	Director13/06/2018 → 2023 accounts
Philippe Leblanc	Director06/06/2017 → 2017 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	01/01/2025	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	09/07/2026	18/06/2025	24/07/2024	27/06/2023	21/06/2022	25/06/2021
General meeting	10/06/2026	11/06/2025	12/06/2024	14/06/2023	08/06/2022	08/06/2021
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, 22 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	10/06/2026	09/07/2026	French	PDF
Full model	31/12/2024	11/06/2025	18/06/2025	French	PDF
Full model	31/12/2023	12/06/2024	24/07/2024	French	PDF
Full model	31/12/2022	14/06/2023	27/06/2023	French	PDF
Full model	31/12/2021	08/06/2022	21/06/2022	French	PDF
Full model	31/12/2020	08/06/2021	25/06/2021	French	PDF
Full model	31/12/2019	10/06/2020	02/07/2020	French	PDF
Full model	31/12/2018	12/06/2019	24/06/2019	French	PDF
Full model	31/12/2017	13/06/2018	28/06/2018	French	PDF
Full model	31/12/2016	14/06/2017	26/06/2017	French	PDF
Full model	31/12/2015	08/06/2016	29/06/2016	French	PDF
Full model	31/12/2014	10/06/2015	29/06/2015	French	PDF
Full model	31/12/2013	11/06/2014	30/06/2014	French	PDF
Full model	31/12/2012	12/06/2013	09/07/2013	French	PDF
Full model	31/12/2011	13/06/2012	19/10/2012	French	PDF
Full model	31/12/2010	08/06/2011	09/12/2011	French	PDF
Full model	31/12/2009	09/06/2010	08/07/2010	French	PDF
Full modelCorrection	31/12/2008	16/11/2009	27/04/2010	French	PDF
Full model	31/12/2008	16/11/2009	04/03/2010	French	PDF
Full model	31/12/2007	30/06/2008	27/11/2008	French	PDF
Full modelCorrection	31/12/2006	27/06/2007	10/01/2008	French	PDF
Full model	31/12/2006	27/06/2007	22/11/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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

4 active · 14 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
DEMISAN0884.531.815Represented by Ivo De Vlieghere	Director12/06/2024 → 12/06/2030
Jean-Benoît Collée	Director15/01/2009 → 12/06/2030
Jérôme Eloy	Director13/06/2018 → 12/06/2030
Noémie Zeligzon	Director14/03/2024 → 12/06/2030

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Eric Trodoux	Director08/06/2016 → 2023 accounts
Sunnira Ly	Director13/06/2018 → 2023 accounts
Philippe Leblanc	Director06/06/2017 → 2017 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Capital / shares12/10/2026
CAPITAL, ACTIONS
PDF
Mandates05/08/2024
DEMISSIONS, NOMINATIONS
PDF
Other09/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS
PDF
Mandates03/02/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates14/10/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates04/08/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates21/12/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates23/09/2020
DEMISSIONS, NOMINATIONS
PDF

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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

Filings10 filings

Mandates

DEMISAN

Jean-Benoît Collée

Jérôme Eloy

Noémie Zeligzon

Sunnira Ly

Eric Trodoux

Philippe Leblanc

Jean-Marc Junon

Thibault Lifrange

André JACQUEMART

Jean-Luc GERARD

Mathieu BERTHOUD

Show the 6 other mandates

19961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024202520262027202820292030

RECYFUEL

Rue du Parc industriel 16, 4480 Engis

Director

Chairman of the board of directorsDirector

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Rue du Parc industriel 16, 4480 EngisCurrent	accounts 2025	Accounts 2025 · 2026-00274282
Parc de l'Alliance, Boulevard de France 3-5, 1420 Braine-l'Alleud	accounts 2023	Accounts 2023 · 2024-00279395

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
RECYFUELCurrent	accounts 2006 → 2025	Accounts 2025 · 2026-00274282

Events

2025
Annual accounts 20251,6 M €↓
2023
Annual accounts 20231,7 M €↑
2017
Annual accounts 20171 M €↑
2016
Annual accounts 2016846,1 k €↑
2011
Annual accounts 2011169 k €↓
2010
Annual accounts 2010739,8 k €↓
2009
Annual accounts 20091,2 M €↑
2008
Annual accounts 2008-462,1 k €↓
2007
Annual accounts 2007600,6 k €↑
2006
Annual accounts 2006542,3 k €
08/01/1997
IncorporationPublic limited company

RECYFUEL

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