ACTIVE

KNDS Belgium

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Financial year 2025 · Closed on 31/12/2025

Net result-23,7 M €-78,4 %over 1 year
Revenue34,9 M €-36,0 %over 1 year
Equity4,8 M €-83,2 %over 1 year
Workforce246,2 ETP+1,4 %over 1 year

Identity

Source · BCE/KBO

KNDS Belgium is a Public limited company incorporated in 1999. Its main activity is: Manufacture of steam generators, except central heating hot water boilers. Its registered office is in Seneffe. It employs on average 246,2 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0466.712.134
Incorporation
23/08/1999
Legal form
Public limited company
Registered office
Rue Grinfaux 50
7181 Seneffe · WallonieSee on map
Contributed capital
30 094 153,91 €
Latest accounts
31/12/2025
Average workforce
246,2 ETP
Joint committees (2)
  • 111
  • 209
Signals
Good liquidityHigh revenue

Financials

Source · NBB, 24 filings

Trend over 10 financial years

20252024202320222021
Income statement
Revenue34,9 M €54,5 M €72 M €101,7 M €58,2 M €
EBITDA-9,9 M €-8 M €19,9 M €20,7 M €1,2 M €
Operating result-24,2 M €-16,2 M €10 M €7,6 M €3,8 M €
Net result-23,7 M €-13,3 M €6,8 M €6,2 M €4,2 M €
Balance sheet
Equity4,8 M €28,5 M €41,8 M €35 M €28,8 M €
Total assets173,7 M €191,9 M €242,4 M €122,9 M €122,5 M €
Cash1,5 M €5,2 M €3,2 M €3,2 M €1,5 M €
Debts121,2 M €129,4 M €156,3 M €49,3 M €71,1 M €
Other
Workforce246,2 ETP242,9 ETP238,0 ETP264,0 ETP251,3 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 26 ended

Active mandates

Arnaud le Grelle

Director · since 15 janvier 2025 · until 28 avril 2031

Active
Jean-Michel Girard

Director · since 01 janvier 2025 · until 28 avril 2031

Active
Cécile Mathonière (nom d'usage Milward)

Director · since 11 octobre 2023 · until 27 avril 2026

Active
Nicolas Million

Director · since 27 avril 2020 · until 27 avril 2026

Active
Dominique Guillet

Chairman of the board of directors · since 13 décembre 2018 · until 28 avril 2031

Active

Ended mandates

Arnaud le Grelle

Director · since 15 janvier 2025 · until 28 avril 2025

Ended
Jean-Michel Girard

Director · since 01 janvier 2025 · until 28 avril 2025

Ended
Céline Mathonière (nom d'usage Milward)

Director · since 11 octobre 2023 · until 29 avril 2024

Ended
Catherine Tourres

Director · since 27 avril 2020 · until 15 juin 2023

Ended

Other companies at this address

Rue Grinfaux 50 7181 Seneffe
CompanyCBE no.
SOLIDARITE KNDS BELGIQUE● Active
0410.694.535

Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull 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 date15/07/202625/06/202529/05/202416/05/202324/05/202227/05/2021
General meeting27/04/202628/04/202529/04/202424/04/202325/04/202226/04/2021
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, 24 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full modelCorrection31/12/202527/04/202615/07/2026FrenchPDF
Full model31/12/202527/04/202612/05/2026FrenchPDF
Full modelCorrection31/12/202428/04/202525/06/2025FrenchPDF
Full model31/12/202428/04/202527/05/2025FrenchPDF
Full model31/12/202329/04/202429/05/2024FrenchPDF
Full model31/12/202224/04/202316/05/2023FrenchPDF
Full model31/12/202125/04/202224/05/2022FrenchPDF
Full model31/12/202026/04/202127/05/2021FrenchPDF
Full model31/12/201927/04/202026/05/2020FrenchPDF
Full model31/12/201829/04/201919/06/2019FrenchPDF
Full modelCorrection31/12/201730/04/201819/03/2019FrenchPDF
Full model31/12/201730/04/201820/06/2018FrenchPDF
Full model31/12/201624/04/201730/06/2017FrenchPDF
Full model31/12/201525/04/201625/05/2016FrenchPDF
Full model31/12/201427/04/201508/06/2015FrenchPDF
Full model31/10/201322/04/201416/06/2014FrenchPDF
Full model31/10/201215/04/201317/04/2013FrenchPDF
Full model31/10/201116/04/201217/04/2012FrenchPDF
Full model31/10/201006/05/201118/05/2011FrenchPDF
Full model31/12/200928/10/201002/11/2010FrenchPDF
Full model31/12/200816/09/200921/10/2009FrenchPDF
Full model31/12/200730/06/200816/07/2008FrenchPDF
Full model31/12/200620/11/200711/12/2007FrenchPDF
Full model31/12/200513/12/200608/03/2007FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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

5 active · 26 ended

Active mandates

Arnaud le Grelle

Director · since 15 janvier 2025 · until 28 avril 2031

Active
Jean-Michel Girard

Director · since 01 janvier 2025 · until 28 avril 2031

Active
Cécile Mathonière (nom d'usage Milward)

Director · since 11 octobre 2023 · until 27 avril 2026

Active
Nicolas Million

Director · since 27 avril 2020 · until 27 avril 2026

Active
Dominique Guillet

Chairman of the board of directors · since 13 décembre 2018 · until 28 avril 2031

Active

Ended mandates

Arnaud le Grelle

Director · since 15 janvier 2025 · until 28 avril 2025

Ended
Jean-Michel Girard

Director · since 01 janvier 2025 · until 28 avril 2025

Ended
Céline Mathonière (nom d'usage Milward)

Director · since 11 octobre 2023 · until 29 avril 2024

Ended
Catherine Tourres

Director · since 27 avril 2020 · until 15 juin 2023

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates15/09/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates27/02/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates04/02/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates16/05/2024
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - DENOMINATION
    PDF
  • Other12/04/2024
    DIVERS
    PDF
  • Mandates11/04/2024
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates05/01/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates20/12/2023
    DEMISSIONS, NOMINATIONS
    PDF

Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025-23,7 M €↓
  2. 28/04/2025
    nominationJean-Michel GIRARD — administrateur
  3. 28/04/2025
    nominationArnaud LE GRELLE — administrateur
  4. 28/04/2025
    reconductionDominique GUILLET — administrateur
  5. 15/01/2025
    nominationArnaud le Grelle — administrateur
  6. 01/01/2025
    nominationJean-Michel Girard — administrateur
  7. 2024
    Annual accounts 2024-13,3 M €↓
  8. 2024
    Name changeKNDS Belgium
  9. 2023
    Annual accounts 20236,8 M €↑
  10. 24/04/2023
    reconductionPWC Réviseurs d'Entreprises — commissaire
  11. 2022
    Annual accounts 20226,2 M €↑
  12. 2021
    Annual accounts 20214,2 M €↑
  13. 2021
    Name changeMECAR SA
  14. 2020
    Annual accounts 2020-18,7 M €↓
  15. 2009
    Annual accounts 2009-7,9 M €↓
  16. 2008
    Annual accounts 20082 M €↑
  17. 2007
    Annual accounts 2007-13,2 M €↑
  18. 2006
    Annual accounts 2006-19,7 M €
  19. 23/08/1999
    IncorporationPublic limited company