ACTIVE

3B-FIBREGLASS

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Financial year 2025 · closed on 31/12/2025

Net result

769,1 k €

-85.5% YoY

Revenue

182 M €

+0.2% YoY

Equity

57,3 M €

+1.3% YoY

Workforce

387,9 ETP

-1.6% YoY

What does 3B-FIBREGLASS do?

3B-FIBREGLASS is a Private limited company incorporated in 1999. Its registered office is in Herve. It employs on average 387,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0467.608.690

Incorporation

24/11/1999

Legal form

Private limited company

Registered office

Rue de Maestricht 67
4651 Herve · WallonieSee on map

Contributed capital

51 947 195,34 €

Latest accounts

31/12/2025

Average workforce

387,9 ETP

Joint committees (4)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	182 M €	+0.2%	181,6 M €	-20.0%	227 M €	-8.6%	248,5 M €	+48.9%	166,9 M €	+7.7%	154,9 M €	-16.1%	184,6 M €	-1.4%	187,1 M €	-7.4%	202 M €	+11.9%	180,5 M €	-2.8%	185,6 M €	+1.7%	182,5 M €	+11.0%	164,4 M €	+10.1%	149,4 M €	-2.7%	153,5 M €	-6.3%	163,8 M €	+22.7%	133,5 M €	-18.1%	163 M €	+29.3%	126,1 M €	+7.0%	117,9 M €
EBITDA	6,2 M €	-47.6%	11,9 M €	+74.6%	6,8 M €	-81.0%	35,8 M €	+554%	-7,9 M €	+72.0%	-28,1 M €	-365%	10,6 M €	-46.4%	19,8 M €	+1.7%	19,5 M €	+18.7%	16,4 M €	+48.1%	11,1 M €	+33.9%	8,3 M €	+80.9%	4,6 M €	+53.6%	3 M €	-5.3%	3,1 M €	-79.2%	15,2 M €	+1350%	-1,2 M €	-112%	9,8 M €	+21.2%	8,1 M €	+121%	3,6 M €
Operating result	941,2 k €	-82.6%	5,4 M €	+875%	556,2 k €	-98.1%	29,3 M €	+300%	-14,6 M €	+57.6%	-34,5 M €	-742%	5,4 M €	-63.5%	14,7 M €	-3.4%	15,2 M €	+59.8%	9,5 M €	+115%	4,4 M €	+142%	1,8 M €	+256%	-1,2 M €	+79.3%	-5,7 M €	-15.8%	-4,9 M €	-163%	7,8 M €	+179%	-9,9 M €	-1214%	-751,5 k €	+42.2%	-1,3 M €	+77.5%	-5,8 M €
Net result	769,1 k €	-85.5%	5,3 M €	+1258%	-457,2 k €	-102%	26,2 M €	+254%	-17 M €	+54.8%	-37,5 M €	-852%	5 M €	-63.6%	13,7 M €	+14.8%	12 M €	+17.0%	10,2 M €	+605%	1,4 M €	+172%	-2 M €	+66.4%	-6 M €	-3.9%	-5,8 M €	-21.8%	-4,8 M €	-151%	9,3 M €	+268%	-5,6 M €	+23.9%	-7,3 M €	-267%	-2 M €	+64.2%	-5,6 M €
Balance sheet
Equity	57,3 M €	+1.3%	56,6 M €	+10.1%	51,4 M €	-1.1%	52 M €	+100%	25,9 M €	-39.7%	43 M €	-46.7%	80,7 M €	+6.9%	75,5 M €	+21.9%	61,9 M €	+23.9%	49,9 M €	+25.3%	39,9 M €	+3.8%	38,4 M €	-5.1%	40,4 M €	-13.1%	46,6 M €	-10.1%	51,8 M €	-8.6%	56,7 M €	+19.4%	47,5 M €	-9.7%	52,6 M €	+63.8%	32,1 M €	-6.4%	34,3 M €
Total assets	115,9 M €	+14.1%	101,6 M €	-5.5%	107,5 M €	-9.6%	119 M €	+4.4%	114 M €	-17.1%	137,4 M €	-11.2%	154,7 M €	-0.1%	154,9 M €	+23.1%	125,8 M €	+7.5%	117,1 M €	+13.8%	102,9 M €	+3.9%	99,1 M €	-13.1%	114 M €	+10.7%	102,9 M €	+5.6%	97,5 M €	+3.7%	94 M €	-2.1%	96 M €	-5.1%	101,2 M €	+3.4%	97,8 M €	+23.1%	79,4 M €
Cash	1,7 M €	+63.1%	1 M €	+153%	412,7 k €	-26.1%	558,2 k €	+188%	194,1 k €	-97.5%	7,8 M €	+165%	3 M €	+481%	510 k €	-3.7%	529,5 k €	-15.3%	625 k €	+120%	284,2 k €	+3.7%	273,9 k €	-65.6%	797,2 k €	+205%	261,7 k €	-88.1%	2,2 M €	-75.6%	9 M €	-11.8%	10,2 M €	+18.6%	8,6 M €	+266%	2,3 M €	+1558%	141,6 k €
Debts	56,3 M €	+33.5%	42,2 M €	-20.9%	53,3 M €	-16.6%	63,9 M €	-24.0%	84,1 M €	-7.2%	90,7 M €	+28.4%	70,6 M €	-5.9%	75 M €	+28.8%	58,2 M €	-7.8%	63,1 M €	+12.9%	55,9 M €	+3.6%	54 M €	-19.2%	66,8 M €	+34.8%	49,6 M €	+30.4%	38 M €	+20.1%	31,7 M €	-20.8%	40 M €	+13.4%	35,3 M €	-38.9%	57,7 M €	+66.4%	34,7 M €
Other
Workforce	387,9 ETP	-1.6%	394,2 ETP	-9.2%	434,2 ETP	-7.2%	468,0 ETP	+2.1%	458,5 ETP	+2.5%	447,5 ETP	-7.2%	482,1 ETP	-2.5%	494,5 ETP	+1.2%	488,8 ETP	-3.2%	505,0 ETP	+0.2%	503,8 ETP	+5.4%	478,2 ETP	+5.4%	453,7 ETP	-2.2%	464,0 ETP	-1.2%	469,5 ETP	+8.6%	432,4 ETP	+10.8%	390,2 ETP	-9.4%	430,8 ETP	+7.5%	400,6 ETP	-2.9%	412,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 35 ended

Active mandates

Vishal Bhailal SHAH

Director · since 12 juillet 2022

Active

Vishal Sushilkumar GOENKA

Director · since 12 juillet 2022

Active

Ended mandates

Meenakshi Devi MUSSAI RAMASSUR

Director · since 28 février 2020 · until 30 juin 2022

Ended

Meenakshi Devi MUSSAI RAMASSUR

Director · since 28 février 2020

Ended

Meenaskshi Devi MUSSAI RAMASSUR

Manager · since 28 février 2020

Ended

Nicholas MARTIN

Director · since 03 mars 2015 · until 28 février 2020

Ended

At this address

Other companies at this address

Company	CBE no.
Project Spindle Belgium● Active	1034.210.436

Annual accounts

Full financial information

	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	29/06/2026	18/08/2025	05/08/2024	31/08/2023	19/07/2022	12/07/2021
General meeting	24/06/2026	24/06/2025	25/06/2024	27/06/2023	28/06/2022	29/06/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	24/06/2026	29/06/2026	French	PDF
Full model	31/12/2024	24/06/2025	18/08/2025	French	PDF
Full model	31/12/2023	25/06/2024	05/08/2024	French	PDF
Full model	31/12/2022	27/06/2023	31/08/2023	French	PDF
Full model	31/12/2021	28/06/2022	19/07/2022	French	PDF
Full model	31/12/2020	29/06/2021	12/07/2021	French	PDF
Full model	31/12/2019	04/09/2020	29/09/2020	French	PDF
Full model	31/12/2018	25/06/2019	07/08/2019	French	PDF
Full model	31/12/2017	26/06/2018	09/07/2018	French	PDF
Full model	31/12/2016	27/06/2017	07/07/2017	French	PDF
Full model	31/12/2015	28/06/2016	02/08/2016	French	PDF
Full model	31/12/2014	30/06/2015	27/07/2015	French	PDF
Full model	31/12/2013	24/06/2014	06/08/2014	French	PDF
Full model	31/12/2012	25/06/2013	26/07/2013	French	PDF
Full model	31/12/2011	26/06/2012	13/08/2012	French	PDF
Full model	31/12/2010	28/06/2011	04/08/2011	French	PDF
Full model	31/12/2009	29/06/2010	17/09/2010	French	PDF
Full model	31/12/2008	30/06/2009	24/09/2009	French	PDF
Full model	31/12/2007	24/06/2008	29/08/2008	French	PDF
Full model	31/12/2006	26/06/2007	23/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 35 ended

Active mandates

Vishal Bhailal SHAH

Director · since 12 juillet 2022

Active

Vishal Sushilkumar GOENKA

Director · since 12 juillet 2022

Active

Ended mandates

Meenakshi Devi MUSSAI RAMASSUR

Director · since 28 février 2020 · until 30 juin 2022

Ended

Meenakshi Devi MUSSAI RAMASSUR

Director · since 28 février 2020

Ended

Meenaskshi Devi MUSSAI RAMASSUR

Manager · since 28 février 2020

Ended

Nicholas MARTIN

Director · since 03 mars 2015 · until 28 février 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates12/11/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates04/10/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates02/02/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates29/07/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates10/11/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates01/07/2021
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates10/03/2020
DEMISSIONS, NOMINATIONS - MODIFICATION FORME JURIDIQUE
PDF
Mandates30/07/2018
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

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

See the Business plan

2025
Annual accounts 2025769,1 k €↓
2024
Annual accounts 20245,3 M €↑
24/10/2024
reconductionBDO BEDRIJFSREVISOREN - BDO REVISEURS D'ENTREPRISES — commissaire
2023
Annual accounts 2023-457,2 k €↓
01/09/2023
nominationJean-François BERNARD — représentant permanent du commissaire
2022
Annual accounts 202226,2 M €↑
12/07/2022
nominationVinayak Kunj — administrateur
12/07/2022
nominationVishal Bhailal SHAH — administrateur
12/07/2022
nominationVishal Sushilkumar GOENKA — administrateur
2021
Annual accounts 2021-17 M €↑
12/04/2021
cession
2020
Annual accounts 2020-37,5 M €↓
2019
Annual accounts 20195 M €↓
2018
Annual accounts 201813,7 M €↑
2017
Annual accounts 201712 M €↑
2016
Annual accounts 201610,2 M €↑
2015
Annual accounts 20151,4 M €↑
2014
Annual accounts 2014-2 M €↑
2013
Annual accounts 2013-6 M €↓
2012
Annual accounts 2012-5,8 M €↓
2011
Annual accounts 2011-4,8 M €↓
2010
Annual accounts 20109,3 M €↑
2009
Annual accounts 2009-5,6 M €↑
2008
Annual accounts 2008-7,3 M €↓
2007
Annual accounts 2007-2 M €↑
2006
Annual accounts 2006-5,6 M €
24/11/1999
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

3B-FIBREGLASS

Overview

What does 3B-FIBREGLASS do?

Trend over 20 financial years

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