ACTIVE

Recupel

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Financial year 2025 · Closed on 31/12/2025

Net result-13,6 M €-10,8 %over 1 year
Revenue41,5 M €+16,9 %over 1 year
Equity78,8 M €-14,8 %over 1 year
Workforce33,3 ETP+6,1 %over 1 year

Identity

Source · BCE/KBO

Recupel is a Non-profit organization incorporated in 2000. Its main activity is: Sewerage. Its registered office is in Zaventem. It employs on average 33,3 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0473.923.093
Incorporation
14/12/2000
Legal form
Non-profit organization
Registered office
Hermeslaan 11
1932 Zaventem · FlandreSee on map
Latest accounts
31/12/2025
Average workforce
33,3 ETP
Joint committees (2)
  • 200
  • 335
Signals
Solid equityLow riskGood liquidityHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 18 financial years

20252024202320222021
Income statement
Revenue41,5 M €35,5 M €35,1 M €43,8 M €42,2 M €
EBITDA-14,1 M €-13,5 M €-9,1 M €317,8 k €607,6 k €
Operating result-14,8 M €-13,9 M €-9,4 M €1,1 k €-4,8 k €
Net result-13,6 M €-12,3 M €-7,9 M €––
Balance sheet
Equity78,8 M €92,4 M €104,7 M €––
Total assets97,8 M €112,7 M €130 M €11,9 M €9,7 M €
Cash10,9 M €13,1 M €11,5 M €7,7 M €5,5 M €
Debts13,9 M €11,7 M €12,8 M €11,9 M €9,7 M €
Other
Workforce33,3 ETP31,4 ETP29,0 ETP30,0 ETP29,2 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

12 active · 50 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Bruno Vermoesen
Chairman of the board of directors01/09/2018 → 23/06/2026Director23/01/2013 → 2018 accountsended
Derek McMillan
Director25/01/2017 → 23/06/2026
Koen Waelput
Director27/01/2021 → 23/06/2026
Kris Den Haese
Vice-chairman of the board of directors24/05/2017 → 23/06/2026Director24/05/2017 → 2022 accountsended
Manuela Fiorucci
Director23/06/2023 → 23/06/2026
Marc Moris
Director31/01/2023 → 23/06/2026
Marie Van Breusegem
Director23/06/2023 → 23/06/2026
Maxime Parein
Director23/06/2023 → 23/06/2026
Patrick Van den Bossche
Director26/01/2022 → 23/06/2026
Roeland Verlinden
Director23/06/2023 → 23/06/2026
Rony Haentjens
Director27/01/2021 → 23/06/2026
Werner Donckers
Director24/05/2017 → 23/06/2026Vice-chairman of the board of directors14/05/2008 → 2017 accountsended

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Eric Piers
Director01/06/2022 → 2022 accounts
Johan Surkyn
Director01/06/2022 → 2022 accounts
Hendrikus Vermeire
Vice-chairman of the board of directors25/05/2022 → 2022 accounts
Patrick Lens
Director25/05/2022 → 2022 accounts

Other companies at this address

Hermeslaan 11 1932 Zaventem
CompanyCBE no.
AIR LIQUIDE INDUSTRIES BELGIUM● Active
0457.652.730
AIR LIQUIDE LARGE INDUSTRY● Active
0471.356.949
AIR LIQUIDE MEDICAL● Active
0436.888.493
DENSO Belgium● Active
0471.476.814
Fonds d'assainissement des sols des citernes à gasoil à des fins de chauffage● Active
0726.647.586
FONDS D'ASSAINISSEMENT DES SOLS DES STATIONS - SERVICE - BODEMSANERINGSFONDS VOOR BENZINESTATIONS● Active
0474.553.197
HYDROWAL● Active
0420.552.210
L'Air liquide Belge● Active
0404.222.556
MARKETING & SALES INVEST● Active
0716.890.772
MindsInvest● Active
0775.624.074
MINDS&MORE● Active
0824.312.730
Moore Corporate Finance● Active
0463.402.256
PFIZER SERVICE COMPANY● Active
0478.242.365
PFIZER VAT GROUP BELGIUM● Active
0846.133.968
SUMITOMO CHEMICAL EUROPE S.A./N.V.● Active
0453.622.676
SUMITOMO SEIKA EUROPE● Active
0894.054.344
Swedish Orphan Biovitrum (Belgium)● Active
0536.217.087

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 date25/06/202602/07/202520/06/202430/06/202307/06/202231/05/2021
General meeting16/06/202618/06/202518/06/202423/06/202301/06/202226/05/2021
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 model31/12/202516/06/202625/06/2026DutchPDF
Full model31/12/202418/06/202502/07/2025DutchPDF
Full model31/12/202318/06/202420/06/2024DutchPDF
Full model31/12/202223/06/202330/06/2023DutchPDF
Full model31/12/202101/06/202207/06/2022DutchPDF
Full model31/12/202026/05/202131/05/2021DutchPDF
Full model31/12/201927/05/202002/06/2020DutchPDF
Full model31/12/201822/05/201923/05/2019DutchPDF
Full model31/12/201723/05/201807/06/2018DutchPDF
Full model31/12/201624/05/201706/06/2017DutchPDF
Full model31/12/201525/05/201606/06/2016DutchPDF
Full model31/12/201427/05/201508/06/2015DutchPDF
Full model31/12/201328/05/201402/06/2014DutchPDF
Full model31/12/201222/05/201331/05/2013DutchPDF
Full model31/12/201124/05/201205/06/2012DutchPDF
Full model31/12/201018/05/201123/05/2011DutchPDF
Full model31/12/200912/05/201001/06/2010DutchPDF
Full model31/12/200813/05/200904/06/2009DutchPDF
Full model31/12/200714/05/200829/07/2008DutchPDF
Full model31/12/200609/05/200721/06/2007DutchPDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

12 active · 50 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Bruno Vermoesen
Chairman of the board of directors01/09/2018 → 23/06/2026Director23/01/2013 → 2018 accountsended
Derek McMillan
Director25/01/2017 → 23/06/2026
Koen Waelput
Director27/01/2021 → 23/06/2026
Kris Den Haese
Vice-chairman of the board of directors24/05/2017 → 23/06/2026Director24/05/2017 → 2022 accountsended
Manuela Fiorucci
Director23/06/2023 → 23/06/2026
Marc Moris
Director31/01/2023 → 23/06/2026
Marie Van Breusegem
Director23/06/2023 → 23/06/2026
Maxime Parein
Director23/06/2023 → 23/06/2026
Patrick Van den Bossche
Director26/01/2022 → 23/06/2026
Roeland Verlinden
Director23/06/2023 → 23/06/2026
Rony Haentjens
Director27/01/2021 → 23/06/2026
Werner Donckers
Director24/05/2017 → 23/06/2026Vice-chairman of the board of directors14/05/2008 → 2017 accountsended

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Eric Piers
Director01/06/2022 → 2022 accounts
Johan Surkyn
Director01/06/2022 → 2022 accounts
Hendrikus Vermeire
Vice-chairman of the board of directors25/05/2022 → 2022 accounts
Patrick Lens
Director25/05/2022 → 2022 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates26/06/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates26/06/2025
    MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates21/09/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Restructuring25/07/2023
    KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Mandates06/07/2023
    DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates06/07/2023
    ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Restructuring05/05/2023
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Restructuring05/05/2023
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    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
Bruno Vermoesen
Marie Van Breusegem
Roeland Verlinden
Maxime Parein
Rony Haentjens
Koen Waelput
Derek McMillan
Werner Donckers
Marc Moris
Patrick Van den Bossche
Kris Den Haese
Manuela Fiorucci
200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026
Recupel
Hermeslaan 11, 1932 Sint-Stevens-WoluweAuguste Reyerslaan 80, 1030 Schaerbeek
Chairman of the board of directorsDirector
Director
Director
Director
Director
Director
Director
DirectorVice-chairman of the board of directors
Director
Director
Vice-chairman of the board of directorsDirector
Director
CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE
Registered addressPeriodSource
Hermeslaan 11, 1932 Sint-Stevens-WoluweCurrent
accounts 2025
Accounts 2025 · 2026-00217176
Auguste Reyerslaan 80, 1030 Schaerbeek
accounts 2021 → 2024
Accounts 2024 · 2025-00217733

Company names

Source · NBB annual accounts, CBE
NamePeriodSource
RecupelCurrent
accounts 2008 → 2025
Accounts 2025 · 2026-00217176

Events

  1. 16/06/2026
    reconductionMoore Audit BV · commissaris
  2. 16/06/2026
    reconductionBruno Vermoesen · bestuurder
  3. 16/06/2026
    reconductionWerner Donckers · bestuurder
  4. 16/06/2026
    reconductionRony Haentjens · bestuurder
  5. 16/06/2026
    reconductionKris Den Haese · bestuurder
  6. 16/06/2026
    reconductionMarc Moris · bestuurder
  7. 16/06/2026
    reconductionPatrick Van den Bossche · bestuurder
  8. 16/06/2026
    reconductionMarie Van Breusegem · bestuurder
  9. 16/06/2026
    reconductionKoen Waelput · bestuurder
  10. 16/06/2026
    reconductionRoeland Verlinden · bestuurder
  11. 16/06/2026
    reconductionManuela Fiorucci · bestuurder
  12. 16/06/2026
    nominationGert Roeckx · bestuurder
  13. 16/06/2026
    nominationKristof De Bolle · bestuurder
  14. 2025
    Annual accounts 2025-13,6 M €↓
  15. 18/06/2025
    nominationCarmen Van Camp · vast vertegenwoordiger van de commissaris
  16. 2024
    Annual accounts 2024-12,3 M €↓
  17. 2023
    Annual accounts 2023-7,9 M €
  18. 23/06/2023
    nominationMarc Marissen · commissaris
  19. 31/01/2023
    nominationMarc Moris · bestuurder
  20. 31/01/2023
    nominationMarc Moris · administrateur
  21. 2022
    Annual accounts 2022
  22. 17/06/2022
    nominationEric Piers · administrateur
  23. 01/06/2022
    nominationEric Piers · bestuurder
  24. 25/05/2022
    reconductionPatrick Lens · administrateur
  25. 25/05/2022
    reconductionHendrikus Vermeire · administrateur
  26. 25/05/2022
    reconductionTerence Vanstals · administrateur
  27. 25/05/2022
    reconductionDerek Mc Millan · administrateur
  28. 25/05/2022
    reconductionPatrick Lens · bestuurder
  29. 25/05/2022
    reconductionHendrikus Vermeire · bestuurder
  30. 25/05/2022
    reconductionTerence Vanstals · bestuurder
  31. 25/05/2022
    reconductionDerek Mc Millan · bestuurder
  32. 2021
    Annual accounts 2021
  33. 2020
    Annual accounts 2020
  34. 2019
    Annual accounts 2019
  35. 2018
    Annual accounts 2018
  36. 2017
    Annual accounts 2017
  37. 2016
    Annual accounts 2016
  38. 2015
    Annual accounts 2015
  39. 2014
    Annual accounts 2014
  40. 2013
    Annual accounts 2013
  41. 2012
    Annual accounts 2012
  42. 2011
    Annual accounts 2011
  43. 2010
    Annual accounts 2010
  44. 2009
    Annual accounts 2009
  45. 2008
    Annual accounts 2008
  46. 14/12/2000
    IncorporationNon-profit organization