ACTIVE

I4B - THE BELGIAN INFRASTRUCTURE FUND

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Financial year 2025 · closed on 31/12/2025
Net result
7,2 M €
+19.0% YoY
Equity
141,1 M €
+5.4% YoY

What does I4B - THE BELGIAN INFRASTRUCTURE FUND do?

I4B - THE BELGIAN INFRASTRUCTURE FUND is a Public limited company incorporated in 2019. Its main activity is: Trusts, funds and similar financial entities. Its registered office is in Watermael-Boitsfort.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0721.470.261
Incorporation
22/02/2019
Legal form
Public limited company
Registered office
Chaussée de La Hulpe 166 box 25
1170 Watermael-Boitsfort · BruxellesSee on map
Contributed capital
135 426 000,76 €
Latest accounts
31/12/2025
Activities (NACE)
64300Trusts, funds and similar financial entities· main64310Trusts, funds and similar financial entities70200Management consultancy activities70220Business and other management consultancy activities
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflow
View the BCE/KBO Public Search record →
Health score
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Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 3 financial years

202520242023
Income statement
Gross margin–-4,4 M €-4,5 M €
EBITDA-4,1 M €-4,6 M €-4,5 M €
Operating result-4,1 M €-4,6 M €-4,7 M €
Net result7,2 M €6 M €1,2 M €
Balance sheet
Equity141,1 M €133,9 M €108,5 M €
Total assets156,5 M €139,5 M €108,8 M €
Cash265,5 k €2,2 M €1,1 M €
Debts15,4 M €5,6 M €280,9 k €
Other
Workforce–0,0 ETP0,0 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 3 ended

Active mandates

Gauthier Pieffer

Director · since 03 décembre 2024 · until 07 juin 2030

Active
Celine Vaessen

Director · since 01 mars 2022 · until 02 juin 2028

Active
Joeri Van Rompuy

Director · since 01 janvier 2021 · until 05 juin 2026

Active

Ended mandates

Celine Vaessen

Director · since 01 mars 2022 · until 01 mars 2028

Ended
Dominique Ghislain

Director · since 12 mai 2021 · until 11 mai 2027

Ended
Joeri Van Rompuy

Director · since 01 janvier 2021 · until 31 décembre 2026

Ended
At this address

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Association des copropriétaires à Watermael-Boitsfort Chaussée de La Hulpe 166● Active
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Annual accounts

Full financial information

202520242023202220212020
Type of accountFull modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged 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 date16/06/202616/06/202520/08/202428/05/202420/06/202203/08/2021
General meeting05/06/202606/06/202512/06/202402/06/202303/06/202204/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

8 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202505/06/202616/06/2026FrenchPDF
Abridged model31/12/202406/06/202516/06/2025FrenchPDF
Abridged model31/12/202312/06/202420/08/2024FrenchPDF
Abridged modelCorrection31/12/202202/06/202328/05/2024FrenchPDF
Abridged model31/12/202202/06/202325/07/2023FrenchPDF
Abridged model31/12/202103/06/202220/06/2022FrenchPDF
Abridged model31/12/202004/06/202103/08/2021FrenchPDF
m910-p31/12/201905/06/202025/08/2020FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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 · 3 active · 3 ended

Active mandates

Gauthier Pieffer

Director · since 03 décembre 2024 · until 07 juin 2030

Active
Celine Vaessen

Director · since 01 mars 2022 · until 02 juin 2028

Active
Joeri Van Rompuy

Director · since 01 janvier 2021 · until 05 juin 2026

Active

Ended mandates

Celine Vaessen

Director · since 01 mars 2022 · until 01 mars 2028

Ended
Dominique Ghislain

Director · since 12 mai 2021 · until 11 mai 2027

Ended
Joeri Van Rompuy

Director · since 01 janvier 2021 · until 31 décembre 2026

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates30/09/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates20/01/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Registered office25/10/2023
    SIEGE SOCIAL
    PDF
  • Capital / shares18/10/2023
    CAPITAL, ACTIONS
    PDF
  • Capital / shares19/06/2023
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - CAPITAL, ACTIONS
    PDF
  • Capital / shares13/09/2022
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - CAPITAL, ACTIONS
    PDF
  • Mandates29/08/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates05/04/2022
    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

Timeline

  1. 2025
    Annual accounts 20257,2 M €↑
  2. 06/06/2025
    reconductionBDO Reviseur d'Entreprises SRL — commissaire aux comptes
  3. 2024
    Annual accounts 20246 M €↑
  4. 03/12/2024
    nominationGauthier Pieffer — administrateur
  5. 2023
    Annual accounts 20231,2 M €
  6. 05/10/2023
    augmentation_capital
  7. 05/10/2023
    augmentation_capital
  8. 05/10/2023
    augmentation_capital
  9. 05/10/2023
    augmentation_capital
  10. 05/06/2023
    augmentation_capital
  11. 05/06/2023
    augmentation_capital
  12. 05/06/2023
    augmentation_capital
  13. 05/06/2023
    augmentation_capital
  14. 07/09/2022
    augmentation_capital
  15. 03/06/2022
    reconductionBDO Reviseur d'Entreprises SRL — commissaire aux comptes
  16. 01/03/2022
    nominationCéline Vaessen — administrateur
  17. 22/02/2019
    IncorporationPublic limited company