ACTIVE

AG FINANCE

Financial year 2025 · Closed on 31/12/2025

Net result44,8 M €+3,0 %over 1 year

Equity1,6 Md €+0,6 %over 1 year

Workforce3,8 ETP0,0 %over 1 year

Identity

Source · BCE/KBO

AG FINANCE is a Public limited company incorporated in 1999. Its main activity is: Other credit granting. Its registered office is in Bruxelles. It employs on average 3,8 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0466.967.995
Incorporation: 29/09/1999
Legal form: Public limited company
Registered office: Avenue des Arts 58
1000 Bruxelles · BruxellesSee on map
Contributed capital: 1 278 369 664,27 €
Latest accounts: 31/12/2025
Average workforce: 3,8 ETP

Activities (NACE)

64929Other credit granting· main 64929Other credit granting 66199Other activities auxiliary to financial services, except insurance and pension funding 66199Other activities auxiliary to financial services, except insurance and pension funding

Joint committees (2)

Signals

ProfitableSolid equityLow riskPositive cashflow

Financials

Source · NBB, 20 filings

Trend over 18 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	–		–		–		–		–
EBITDA	-1,5 M €	+1.7%	-1,6 M €	-15.1%	-1,4 M €	+4.4%	-1,4 M €	+2.9%	-1,5 M €
Operating result	-1,5 M €	+1.7%	-1,6 M €	-15.1%	-1,4 M €	+4.4%	-1,4 M €	+2.9%	-1,5 M €
Net result	44,8 M €	+3.0%	43,5 M €	+29.6%	33,5 M €	-31.9%	49,3 M €	+133%	21,1 M €
Balance sheet
Equity	1,6 Md €	+0.6%	1,6 Md €	-9.4%	1,8 Md €	-0.3%	1,8 Md €	+0.2%	1,8 Md €
Total assets	2,1 Md €	+5.6%	2 Md €	-9.0%	2,2 Md €	+2.7%	2,1 Md €	+0.3%	2,1 Md €
Cash	31,3 M €	+22.9%	25,4 M €	-16.8%	30,6 M €	+12.5%	27,2 M €	+20.0%	22,6 M €
Debts	456,1 M €	+28.3%	355,6 M €	-7.3%	383,6 M €	+19.0%	322,5 M €	+0.5%	320,9 M €
Other
Workforce	3,8 ETP	0.0%	3,8 ETP	+18.7%	3,2 ETP	+18.5%	2,7 ETP	-12.9%	3,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

more than 1.000 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 16 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Heidi DELOBELLE	Director23/10/2020 → 13/05/2030Chairman of the board of directors23/10/2020 → 2021 accountsended
Karel TANGHE	Director01/01/2023 → 13/05/2030
MARC VAN BEGIN0864.979.583Represented by Marc VAN BEGIN	Director15/05/2004 → 13/05/2030
Serge FAUTRE	Director13/05/2019 → 13/05/2030Chairman of the board of directors30/04/2012 → 2018 accountsended
Wim VERMEIR	Director28/10/2015 → 13/05/2030

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Hans DE CUYPER	Director13/05/2019 → 2019 accounts
Stéphane FRIX	Director15/01/2018 → 2019 accounts
Wim GUILLIAMS	Director13/05/2019 → 2021 accounts

Other companies at this address

Avenue des Arts 58 1000 Bruxelles

Company	CBE no.
ACA WERKRUIMTE● Active	0872.389.987
AG REAL ESTATE● Active	0403.231.968
AG Real Estate Asset Management● Active	0460.912.920
AG REAL ESTATE CAR PARK● Active	1010.617.858
AG REAL ESTATE CO-PRODUCTION IN DEVELOPMENT● Active	0825.540.571
AG REAL ESTATE COPRODUCTION IN DEVELOPMENT 2● Active	1009.685.767
AG REAL ESTATE FINANCE● Active	0445.949.679
AG REAL ESTATE LAND● Active	0417.389.515
AG Real Estate Projects● Active	0632.680.619
AG Real Estate Property Management● Active	0450.100.190
AG REAL ESTATE SHARED SERVICES● Active	0472.969.525
AG REAL ESTATE WESTINVEST● Active	0841.798.563
AG Real Estate Westloan● Active	0871.397.025
AG RE OFFICE INVEST I● Active	0747.926.418
AG Residential● Active	0794.337.651
AIRPORT DEVELOPMENT● Active	0694.728.846
Ambassade du Canada● Active	0933.395.762
ARLON 53● Active	0743.427.893
AXS NAMUR 2● Active	0715.892.563
AXS NAMUR 3● Active	0715.886.229

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	02/06/2026	11/06/2025	15/05/2024	10/05/2023	13/05/2022	27/05/2021
General meeting	11/05/2026	12/05/2025	13/05/2024	08/05/2023	09/05/2022	10/05/2021
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, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	11/05/2026	02/06/2026	French	PDF
Full model	31/12/2024	12/05/2025	11/06/2025	French	PDF
Full model	31/12/2023	13/05/2024	15/05/2024	French	PDF
Full model	31/12/2022	08/05/2023	10/05/2023	French	PDF
Full model	31/12/2021	09/05/2022	13/05/2022	French	PDF
Full model	31/12/2020	10/05/2021	27/05/2021	French	PDF
Full model	31/12/2019	11/05/2020	15/05/2020	French	PDF
Full model	31/12/2018	13/05/2019	20/05/2019	French	PDF
Full model	31/12/2017	14/05/2018	25/06/2018	French	PDF
Full model	31/12/2016	08/05/2017	31/05/2017	French	PDF
Full model	31/12/2015	09/05/2016	10/05/2016	French	PDF
Full model	31/12/2014	12/05/2015	21/05/2015	French	PDF
Full model	31/12/2013	12/05/2014	16/05/2014	French	PDF
Full model	31/12/2012	13/05/2013	15/05/2013	French	PDF
Full model	31/12/2011	14/05/2012	16/05/2012	French	PDF
Full model	31/12/2010	09/05/2011	17/05/2011	French	PDF
Full model	31/12/2009	10/05/2010	26/05/2010	French	PDF
Full model	31/12/2008	12/05/2009	18/05/2009	French	PDF
Full model	31/12/2007	13/05/2008	13/06/2008	French	PDF
Full model	31/12/2006	08/05/2007	31/05/2007	French	PDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 16 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Heidi DELOBELLE	Director23/10/2020 → 13/05/2030Chairman of the board of directors23/10/2020 → 2021 accountsended
Karel TANGHE	Director01/01/2023 → 13/05/2030
MARC VAN BEGIN0864.979.583Represented by Marc VAN BEGIN	Director15/05/2004 → 13/05/2030
Serge FAUTRE	Director13/05/2019 → 13/05/2030Chairman of the board of directors30/04/2012 → 2018 accountsended
Wim VERMEIR	Director28/10/2015 → 13/05/2030

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Hans DE CUYPER	Director13/05/2019 → 2019 accounts
Stéphane FRIX	Director15/01/2018 → 2019 accounts
Wim GUILLIAMS	Director13/05/2019 → 2021 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates20/08/2026
Administrateurs : démission - nomination
PDF
Mandates15/06/2026
DEMISSIONS, NOMINATIONS
PDF
Capital / shares01/04/2026
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Capital / shares05/07/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Mandates31/05/2024
DEMISSIONS, NOMINATIONS
PDF
Other04/10/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates24/01/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates12/01/2022
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

MARC VAN BEGIN

Heidi DELOBELLE

Serge FAUTRE

Karel TANGHE

Wim VERMEIR

Stéphane FRIX

Wim GUILLIAMS

Hans DE CUYPER

Pierre DEVONDEL

Antonio CANO

Philippe LATOUR

Kurt DE SCHEPPER

Show the 9 other mandates

19992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024202520262027202820292030

AG FINANCE

Avenue des Arts 58, 1000 Brussels

Director

DirectorChairman of the board of directors

Director

Chairman of the board of directorsDirector

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Avenue des Arts 58, 1000 BrusselsCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00137677

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
AG FINANCECurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00137677

Events

11/05/2026
nominationDamien Walgrave · commissaire
27/03/2026
reduction_capital
2025
Annual accounts 202544,8 M €↑
2024
Annual accounts 202443,5 M €↑
02/07/2024
reduction_capital
13/05/2024
reconductionHeidi DELOBELLE · administrateur
13/05/2024
reconductionSerge FAUTRE · administrateur
13/05/2024
reconductionMarc VAN BEGIN · administrateur (représentant permanent de Marc VAN BEGIN SRL)
13/05/2024
reconductionKarel TANGHE · administrateur
13/05/2024
reconductionWim VERMEIR · administrateur
13/05/2024
reconductionKurt Cappoen · commissaire (représentant permanent de PwC Réviseurs d'Entreprises)
2023
Annual accounts 202333,5 M €↓
01/01/2023
nominationKarel Tanghe · administrateur
2022
Annual accounts 202249,3 M €↑
2021
Annual accounts 202121,1 M €↑
2020
Annual accounts 2020-32,1 M €↓
2019
Annual accounts 201963,7 M €↑
2018
Annual accounts 20189,4 M €↓
2017
Annual accounts 201777,5 M €↓
2016
Annual accounts 201691,6 M €↑
2015
Annual accounts 201557,5 M €↑
2014
Annual accounts 201432,5 M €↓
2013
Annual accounts 201342,4 M €↓
2012
Annual accounts 201247,1 M €↑
2011
Annual accounts 2011-210,8 M €↓
2010
Annual accounts 201086 M €↑
2008
Annual accounts 200875,7 M €↑
2006
Annual accounts 20064,8 M €
29/09/1999
IncorporationPublic limited company

AG FINANCE

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events