ACTIVE

FENEKO

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Financial year 2025 · closed on 31/12/2025

Net result

743,8 k €

-38.3% YoY

Revenue

26,7 M €

+0.1% YoY

Equity

10,4 M €

+7.1% YoY

Workforce

67,3 ETP

-3.7% YoY

What does FENEKO do?

FENEKO is a Private limited company incorporated in 2000. Its registered office is in Bruxelles. It employs on average 67,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0470.157.812

Incorporation

28/01/2000

Legal form

Private limited company

Registered office

Avenue Antoon van Oss 1 box 1
1120 Bruxelles · BruxellesSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

67,3 ETP

Joint committees (3)

111
11113
209

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	26,7 M €	+0.1%	26,6 M €	-2.6%	27,3 M €	+1.3%	27 M €	+3.6%	26 M €	+29.6%	20,1 M €	+9.5%	18,4 M €	+9.6%	16,8 M €	+9.4%	15,3 M €	+14.2%	13,4 M €	+9.2%	12,3 M €	+22.1%	10,1 M €		–		–		–		–		–		–		–
EBITDA	1,7 M €	-26.8%	2,4 M €	+62.9%	1,5 M €	-41.6%	2,5 M €	-27.0%	3,4 M €	+55.5%	2,2 M €	-16.6%	2,6 M €	-0.7%	2,6 M €	-13.8%	3,1 M €	+24.2%	2,5 M €	-10.8%	2,8 M €	+18.4%	2,3 M €	+37.8%	1,7 M €	-12.1%	1,9 M €	+23.5%	1,6 M €	+42.9%	1,1 M €	+2.5%	1,1 M €	+8.7%	984 k €	+26.3%	778,9 k €
Operating result	1,1 M €	-35.3%	1,7 M €	+137%	698,1 k €	-59.0%	1,7 M €	-35.6%	2,6 M €	+68.2%	1,6 M €	-1.9%	1,6 M €	-5.1%	1,7 M €	-10.7%	1,9 M €	+28.1%	1,5 M €	-27.9%	2 M €	+26.1%	1,6 M €	+57.7%	1 M €	-25.7%	1,4 M €	+33.7%	1 M €	+75.8%	589,2 k €	+96.9%	299,3 k €	-44.0%	534,7 k €	+7.7%	496,4 k €
Net result	743,8 k €	-38.3%	1,2 M €	+141%	501,5 k €	-64.0%	1,4 M €	-34.3%	2,1 M €	+63.3%	1,3 M €	+0.9%	1,3 M €	+11.8%	1,2 M €	-30.1%	1,6 M €	+49.9%	1,1 M €	-36.8%	1,7 M €	+30.3%	1,3 M €	+47.6%	902,9 k €	-32.5%	1,3 M €	+44.6%	926 k €	-29.4%	1,3 M €	+729%	158,3 k €	-54.6%	348,9 k €	+7.0%	326 k €
Balance sheet
Equity	10,4 M €	+7.1%	9,7 M €	+5.3%	9,2 M €	+5.0%	8,8 M €	+10.4%	8 M €	+50.9%	5,3 M €	+15.4%	4,6 M €	+17.3%	3,9 M €	+35.4%	2,9 M €	+16.5%	2,5 M €	+3.2%	2,4 M €	+102%	1,2 M €	-40.7%	2 M €	+15.0%	1,7 M €	+6.0%	1,6 M €	-28.8%	2,3 M €	+96.5%	1,2 M €	+16.0%	1 M €	+70.6%	592 k €
Total assets	12,6 M €	+10.8%	11,3 M €	+1.8%	11,1 M €	-3.9%	11,6 M €	+2.5%	11,3 M €	+28.6%	8,8 M €	-2.0%	9 M €	-0.4%	9 M €	+1.2%	8,9 M €	-0.7%	9 M €	+3.3%	8,7 M €	+10.1%	7,9 M €	+5.3%	7,5 M €	+16.0%	6,5 M €	+30.8%	4,9 M €	+1.0%	4,9 M €	+6.7%	4,6 M €	+84.4%	2,5 M €	+11.3%	2,2 M €
Cash	4 M €	+33.9%	3 M €	+60.4%	1,9 M €	-12.7%	2,1 M €	-17.6%	2,6 M €	+82.1%	1,4 M €	-4.6%	1,5 M €	+56.2%	955 k €	+4.2%	916,3 k €	-18.5%	1,1 M €	-16.0%	1,3 M €	+46.4%	913,7 k €	+19.0%	767,7 k €	-17.1%	925,7 k €	+83.9%	503,5 k €	-32.2%	743,2 k €	+609%	104,8 k €	-36.3%	164,6 k €	+32.4%	124,3 k €
Debts	1,7 M €	+53.0%	1,1 M €	-24.5%	1,5 M €	-35.2%	2,3 M €	-15.6%	2,7 M €	-8.1%	3 M €	-19.3%	3,7 M €	-9.7%	4,1 M €	-19.8%	5,1 M €	-11.0%	5,7 M €	+3.9%	5,5 M €	-9.1%	6,1 M €	+22.2%	5 M €	+16.5%	4,3 M €	+63.2%	2,6 M €	+14.1%	2,3 M €	-29.5%	3,3 M €	+139%	1,4 M €	-12.4%	1,5 M €
Other
Workforce	67,3 ETP	-3.7%	69,9 ETP	-8.4%	76,3 ETP	+2.4%	74,5 ETP	+8.4%	68,7 ETP	-2.7%	70,6 ETP	-15.1%	83,2 ETP	+12.6%	73,9 ETP	+1.5%	72,8 ETP	+14.5%	63,6 ETP	+8.2%	58,8 ETP	+0.3%	58,6 ETP	+1.4%	57,8 ETP	+17.5%	49,2 ETP	+11.1%	44,3 ETP	+9.4%	40,5 ETP	+12.8%	35,9 ETP	+2.3%	35,1 ETP	+45.6%	24,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 10 ended

Active mandates

MASOMA

Director · since 23 novembre 2023 · 0811.362.834

Represented by NEES Frank

Active

Ended mandates

MASOMA

Director · since 23 novembre 2023 · 0811.362.834

Represented by Frank NEES

Ended

MASOMA

Manager · since 11 mai 2009 · 0811.362.834

Represented by Nees Frank

Ended

MASOMA

Manager · since 01 mai 2009 · 0811.362.834

Represented by Nees Frank

Ended

MASOMA

Director · since 01 mai 2009 · 0811.362.834

Represented by NEES FRANK

Ended

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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	23/06/2026	01/07/2025	27/06/2024	20/06/2023	21/06/2022	27/07/2021
General meeting	19/06/2026	27/06/2025	21/06/2024	16/06/2023	17/06/2022	18/06/2021
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

23 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	19/06/2026	23/06/2026	Dutch	PDF
Full model	31/12/2024	27/06/2025	01/07/2025	Dutch	PDF
Full model	31/12/2023	21/06/2024	27/06/2024	Dutch	PDF
Full model	31/12/2022	16/06/2023	20/06/2023	Dutch	PDF
Full model	31/12/2021	17/06/2022	21/06/2022	Dutch	PDF
Full model	31/12/2020	18/06/2021	27/07/2021	Dutch	PDF
Full model	31/12/2019	30/07/2020	21/08/2020	Dutch	PDF
Full model	31/12/2018	30/06/2019	29/07/2019	Dutch	PDF
Full model	31/12/2017	15/06/2018	30/07/2018	Dutch	PDF
Full modelCorrection	31/12/2016	30/06/2017	10/01/2018	Dutch	PDF
Full model	31/12/2016	30/06/2017	28/08/2017	Dutch	PDF
Full model	31/12/2015	30/06/2016	16/08/2016	Dutch	PDF
Full model	31/12/2014	30/06/2015	27/07/2015	Dutch	PDF
Full modelCorrection	31/12/2013	30/06/2014	25/11/2014	Dutch	PDF
Full model	31/12/2013	30/06/2014	27/08/2014	Dutch	PDF
Abridged model	31/12/2012	29/03/2013	31/07/2013	Dutch	PDF
Abridged model	31/12/2011	15/06/2012	13/08/2012	Dutch	PDF
Abridged model	31/12/2010	17/06/2011	20/06/2011	Dutch	PDF
Abridged model	31/12/2009	18/06/2010	19/08/2010	Dutch	PDF
Abridged modelCorrection	31/12/2008	19/06/2009	02/10/2009	Dutch	PDF
Abridged model	31/12/2008	19/06/2009	26/06/2009	Dutch	PDF
Abridged model	31/12/2007	15/06/2008	29/08/2008	Dutch	PDF
Abridged model	31/12/2006	15/06/2007	21/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 1 active · 10 ended

Active mandates

MASOMA

Director · since 23 novembre 2023 · 0811.362.834

Represented by NEES Frank

Active

Ended mandates

MASOMA

Director · since 23 novembre 2023 · 0811.362.834

Represented by Frank NEES

Ended

MASOMA

Manager · since 11 mai 2009 · 0811.362.834

Represented by Nees Frank

Ended

MASOMA

Manager · since 01 mai 2009 · 0811.362.834

Represented by Nees Frank

Ended

MASOMA

Director · since 01 mai 2009 · 0811.362.834

Represented by NEES FRANK

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates01/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates30/08/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/07/2022
ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
PDF
Mandates30/01/2018
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares06/03/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates07/11/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/05/2009
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
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 2025743,8 k €↓
2024
Annual accounts 20241,2 M €↑
2023
Annual accounts 2023501,5 k €↓
2022
Annual accounts 20221,4 M €↓
2021
Annual accounts 20212,1 M €↑
2019
Annual accounts 20191,3 M €↑
2018
Annual accounts 20181,3 M €↑
2017
Annual accounts 20171,2 M €↓
2016
Annual accounts 20161,6 M €↑
2015
Annual accounts 20151,1 M €↓
2014
Annual accounts 20141,7 M €↑
2013
Annual accounts 20131,3 M €↑
2012
Annual accounts 2012902,9 k €↓
2011
Annual accounts 20111,3 M €↑
2010
Annual accounts 2010926 k €↓
2009
Annual accounts 20091,3 M €↑
2008
Annual accounts 2008158,3 k €↓
2007
Annual accounts 2007348,9 k €↑
2006
Annual accounts 2006326 k €
28/01/2000
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

FENEKO

Overview

What does FENEKO do?

Trend over 19 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