ACTIVE

AG FINANCE

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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
Joint committees (2)
  • 200
  • 218
Signals
ProfitableSolid equityLow riskPositive cashflow

Financials

Source · NBB, 20 filings

Trend over 18 financial years

20252024202320222021
Income statement
Revenue–––––
EBITDA-1,5 M €-1,6 M €-1,4 M €-1,4 M €-1,5 M €
Operating result-1,5 M €-1,6 M €-1,4 M €-1,4 M €-1,5 M €
Net result44,8 M €43,5 M €33,5 M €49,3 M €21,1 M €
Balance sheet
Equity1,6 Md €1,6 Md €1,8 Md €1,8 Md €1,8 Md €
Total assets2,1 Md €2 Md €2,2 Md €2,1 Md €2,1 Md €
Cash31,3 M €25,4 M €30,6 M €27,2 M €22,6 M €
Debts456,1 M €355,6 M €383,6 M €322,5 M €320,9 M €
Other
Workforce3,8 ETP3,8 ETP3,2 ETP2,7 ETP3,1 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 · 46 ended

Active mandates

Heidi DELOBELLE

Director · since 13 mai 2024 · until 13 mai 2030

Active
Karel TANGHE

Director · since 13 mai 2024 · until 13 mai 2030

Active
MARC VAN BEGIN

Director · since 13 mai 2024 · until 13 mai 2030 · 0864.979.583

Represented by Marc VAN BEGIN

Active
Serge FAUTRE

Director · since 13 mai 2024 · until 13 mai 2030

Active
Wim VERMEIR

Director · since 13 mai 2024 · until 13 mai 2030

Active

Ended mandates

Karel TANGHE

Director · since 01 janvier 2023 · until 13 mai 2024

Ended
Heidi DELOBELLE

Chairman of the board of directors · since 23 octobre 2020 · until 13 mai 2024

Ended
Heidi DELOBELLE

Director · since 23 octobre 2020 · until 13 mai 2024

Ended
Hans DE CUYPER

Director · since 13 mai 2019 · until 13 mai 2024

Ended

Other companies at this address

Avenue des Arts 58 1000 Bruxelles
CompanyCBE 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
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 date02/06/202611/06/202515/05/202410/05/202313/05/202227/05/2021
General meeting11/05/202612/05/202513/05/202408/05/202309/05/202210/05/2021
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
Full model31/12/202511/05/202602/06/2026FrenchPDF
Full model31/12/202412/05/202511/06/2025FrenchPDF
Full model31/12/202313/05/202415/05/2024FrenchPDF
Full model31/12/202208/05/202310/05/2023FrenchPDF
Full model31/12/202109/05/202213/05/2022FrenchPDF
Full model31/12/202010/05/202127/05/2021FrenchPDF
Full model31/12/201911/05/202015/05/2020FrenchPDF
Full model31/12/201813/05/201920/05/2019FrenchPDF
Full model31/12/201714/05/201825/06/2018FrenchPDF
Full model31/12/201608/05/201731/05/2017FrenchPDF
Full model31/12/201509/05/201610/05/2016FrenchPDF
Full model31/12/201412/05/201521/05/2015FrenchPDF
Full model31/12/201312/05/201416/05/2014FrenchPDF
Full model31/12/201213/05/201315/05/2013FrenchPDF
Full model31/12/201114/05/201216/05/2012FrenchPDF
Full model31/12/201009/05/201117/05/2011FrenchPDF
Full model31/12/200910/05/201026/05/2010FrenchPDF
Full model31/12/200812/05/200918/05/2009FrenchPDF
Full model31/12/200713/05/200813/06/2008FrenchPDF
Full model31/12/200608/05/200731/05/2007FrenchPDF

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 · 46 ended

Active mandates

Heidi DELOBELLE

Director · since 13 mai 2024 · until 13 mai 2030

Active
Karel TANGHE

Director · since 13 mai 2024 · until 13 mai 2030

Active
MARC VAN BEGIN

Director · since 13 mai 2024 · until 13 mai 2030 · 0864.979.583

Represented by Marc VAN BEGIN

Active
Serge FAUTRE

Director · since 13 mai 2024 · until 13 mai 2030

Active
Wim VERMEIR

Director · since 13 mai 2024 · until 13 mai 2030

Active

Ended mandates

Karel TANGHE

Director · since 01 janvier 2023 · until 13 mai 2024

Ended
Heidi DELOBELLE

Chairman of the board of directors · since 23 octobre 2020 · until 13 mai 2024

Ended
Heidi DELOBELLE

Director · since 23 octobre 2020 · until 13 mai 2024

Ended
Hans DE CUYPER

Director · since 13 mai 2019 · until 13 mai 2024

Ended

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

  1. 11/05/2026
    nominationDamien Walgrave — commissaire
  2. 27/03/2026
    reduction_capital
  3. 2025
    Annual accounts 202544,8 M €↑
  4. 2024
    Annual accounts 202443,5 M €↑
  5. 02/07/2024
    reduction_capital
  6. 13/05/2024
    reconductionHeidi DELOBELLE — administrateur
  7. 13/05/2024
    reconductionSerge FAUTRE — administrateur
  8. 13/05/2024
    reconductionMarc VAN BEGIN — administrateur (représentant permanent de Marc VAN BEGIN SRL)
  9. 13/05/2024
    reconductionKarel TANGHE — administrateur
  10. 13/05/2024
    reconductionWim VERMEIR — administrateur
  11. 13/05/2024
    reconductionKurt Cappoen — commissaire (représentant permanent de PwC Réviseurs d'Entreprises)
  12. 2023
    Annual accounts 202333,5 M €↓
  13. 01/01/2023
    nominationKarel Tanghe — administrateur
  14. 2022
    Annual accounts 202249,3 M €↑
  15. 2021
    Annual accounts 202121,1 M €↑
  16. 2020
    Annual accounts 2020-32,1 M €↓
  17. 2019
    Annual accounts 201963,7 M €↑
  18. 2018
    Annual accounts 20189,4 M €↓
  19. 2017
    Annual accounts 201777,5 M €↓
  20. 2016
    Annual accounts 201691,6 M €↑
  21. 2015
    Annual accounts 201557,5 M €↑
  22. 2014
    Annual accounts 201432,5 M €↓
  23. 2013
    Annual accounts 201342,4 M €↓
  24. 2012
    Annual accounts 201247,1 M €↑
  25. 2011
    Annual accounts 2011-210,8 M €↓
  26. 2010
    Annual accounts 201086 M €↑
  27. 2008
    Annual accounts 200875,7 M €↑
  28. 2006
    Annual accounts 20064,8 M €
  29. 29/09/1999
    IncorporationPublic limited company