ACTIVE

FeBelGen

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Financial year 2025 · closed on 31/12/2025

Net result

157,5 k €

-76.5% YoY

Gross margin

706,7 k €

-42.2% YoY

Equity

3,1 M €

+5.3% YoY

What does FeBelGen do?

FeBelGen is a Non-profit organization incorporated in 2001. Its main activity is: Research and experimental development on natural sciences and engineering. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0476.316.223

Incorporation

26/09/2001

Legal form

Non-profit organization

Registered office

Rue Picard 13 box 102
1000 Bruxelles · BruxellesSee on map

Latest accounts

31/12/2025

Activities (NACE)

72109Research and experimental development on natural sciences and engineering· main 72190Other research and experimental development on natural sciences and engineering 73100Advertising

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 13 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2013		2012
Income statement
Gross margin	706,7 k €	-42.2%	1,2 M €	+11.8%	1,1 M €	+86.8%	585,4 k €	+29.7%	451,3 k €	+2.3%	441,2 k €	+227%	135,1 k €	-66.6%	404,5 k €	+12.4%	359,9 k €	-29.6%	510,9 k €	+6.7%	478,9 k €	+35.0%	354,8 k €	-14.4%	414,5 k €
EBITDA	187,9 k €	-73.2%	701,2 k €	+30.5%	537,3 k €	+179%	192,3 k €	+102%	95,2 k €	-20.3%	119,5 k €	+289%	-63,2 k €	-156%	113,3 k €	+10.4%	102,7 k €	-10.5%	114,7 k €	+93.6%	59,3 k €	+149%	23,8 k €	+383%	-8,4 k €
Operating result	156,6 k €	-76.7%	671,4 k €	+28.8%	521,3 k €	+432%	98 k €	+67.2%	58,6 k €	-29.4%	83 k €	+183%	-99,4 k €	-202%	97,1 k €	+28.1%	75,8 k €	-20.7%	95,6 k €	+411%	18,7 k €	+508107%	-3,7 €	+100.0%	-33,1 k €
Net result	157,5 k €	-76.5%	670,2 k €	+28.8%	520,2 k €	+444%	95,6 k €	+64.4%	58,1 k €	-26.8%	79,4 k €	+179%	-100,1 k €	-212%	89,3 k €	+18.9%	75,1 k €	-21.7%	96 k €	+112%	45,3 k €	+516%	7,4 k €	+125%	-29,1 k €
Balance sheet
Equity	3,1 M €	+5.3%	2,9 M €	+29.5%	2,3 M €	+29.6%	1,8 M €	+5.8%	1,7 M €	+3.6%	1,6 M €	+5.2%	1,5 M €	-6.2%	1,6 M €	+5.8%	1,5 M €	+5.2%	1,5 M €	+7.0%	1,4 M €	+11.7%	1,2 M €	+0.6%	1,2 M €
Total assets	3,3 M €	+2.5%	3,2 M €	+21.4%	2,7 M €	+38.0%	1,9 M €	+9.4%	1,8 M €	-0.2%	1,8 M €	+12.7%	1,6 M €	-15.7%	1,9 M €	+8.5%	1,7 M €	-2.4%	1,8 M €	+16.2%	1,5 M €	+6.5%	1,4 M €	+4.7%	1,4 M €
Cash	291,9 k €	-60.1%	730,8 k €	+41.3%	517,3 k €	+213%	165,3 k €	-23.1%	215 k €	-55.5%	482,7 k €	+118%	221,9 k €	-27.4%	305,4 k €	+26.2%	242 k €	-35.9%	377,2 k €	-4.1%	393,2 k €	-2.8%	404,7 k €	+19.5%	338,7 k €
Debts	193,8 k €	-28.2%	270 k €	-27.7%	373,5 k €	+129%	163,1 k €	+69.7%	96,1 k €	-38.1%	155,2 k €	+332%	36 k €	-42.8%	62,9 k €	+35.9%	46,3 k €	-64.1%	129 k €	+36.8%	94,3 k €	-27.4%	130 k €	-0.4%	130,5 k €
Other
Workforce	–		0,0 ETP	-100%	3,3 ETP	+13.8%	2,9 ETP	0.0%	2,9 ETP	0.0%	2,9 ETP	+7.4%	2,7 ETP	+42.1%	1,9 ETP	0.0%	1,9 ETP	0.0%	1,9 ETP	-24.0%	2,5 ETP	+25.0%	2,0 ETP	+5.3%	1,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 43 ended

Active mandates

Nicolas Van Gelder

Director

Active

Pattyn Dries

Chairman of the board of directors

Active

Pattyn Lieve

Director

Active

Tomasz Buczek

Director

Active

Van Nieuwenhove Stephan

Director

Active

Ended mandates

Stefanie Pieraets

Director · since 28 février 2022

Ended

Bruno De Ultra De Sousa Barcelos

Director · since 15 juin 2018

Ended

Hendrik Teunis Herman Grooters

Vice-chairman of the board of directors · since 24 octobre 2017

Ended

Maximilian von Wülfing

Director · since 22 décembre 2016

Ended

At this address

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LE CUPIDON● Active	0433.198.832
LOVOTO● Active	0462.250.035

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	26/06/2026	17/07/2025	03/07/2024	17/07/2023	14/07/2022	09/08/2021
General meeting	17/06/2026	18/06/2025	20/06/2024	22/06/2023	07/07/2022	01/07/2021
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

14 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	17/06/2026	26/06/2026	Dutch	PDF
Abridged model	31/12/2024	18/06/2025	17/07/2025	Dutch	PDF
Abridged model	31/12/2023	20/06/2024	03/07/2024	Dutch	PDF
Abridged model	31/12/2022	22/06/2023	17/07/2023	Dutch	PDF
Abridged model	31/12/2021	07/07/2022	14/07/2022	Dutch	PDF
Abridged model	31/12/2020	01/07/2021	09/08/2021	Dutch	PDF
Abridged model	31/12/2019	25/06/2020	13/07/2020	Dutch	PDF
Abridged model	31/12/2018	27/06/2019	16/07/2019	Dutch	PDF
Abridged model	31/12/2017	20/07/2018	29/08/2018	Dutch	PDF
Abridged model	31/12/2016	22/06/2017	20/07/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	04/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	19/08/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	29/08/2014	Dutch	PDF
Abridged model	31/12/2012	30/06/2013	13/09/2013	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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 · 5 active · 43 ended

Active mandates

Nicolas Van Gelder

Director

Active

Pattyn Dries

Chairman of the board of directors

Active

Pattyn Lieve

Director

Active

Tomasz Buczek

Director

Active

Van Nieuwenhove Stephan

Director

Active

Ended mandates

Stefanie Pieraets

Director · since 28 février 2022

Ended

Bruno De Ultra De Sousa Barcelos

Director · since 15 juin 2018

Ended

Hendrik Teunis Herman Grooters

Vice-chairman of the board of directors · since 24 octobre 2017

Ended

Maximilian von Wülfing

Director · since 22 décembre 2016

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/04/2024
ONTSLAGEN - BENOEMINGEN
PDF
Registered office16/11/2023
MAATSCHAPPELIJKE ZETEL
PDF
Mandates13/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/11/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/05/2022
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 2025157,5 k €↓
2024
Annual accounts 2024670,2 k €↑
2023
Annual accounts 2023520,2 k €↑
2022
Annual accounts 202295,6 k €↑
2021
Annual accounts 202158,1 k €↓
2021
Name changeMedaxes
2020
Annual accounts 202079,4 k €↑
2019
Annual accounts 2019-100,1 k €↓
2018
Annual accounts 201889,3 k €↑
2017
Annual accounts 201775,1 k €↓
2016
Annual accounts 201696 k €↑
2015
Annual accounts 201545,3 k €↑
2013
Annual accounts 20137,4 k €↑
2012
Annual accounts 2012-29,1 k €
2012
Name changeFEBELGEN
26/09/2001
IncorporationNon-profit organization

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

FeBelGen

Overview

What does FeBelGen do?

Trend over 13 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