ACTIVE

argenx

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Financial year 2025 · closed on 31/12/2025

Net result

1,6 Md €

+447.3% YoY

Revenue

4,5 Md €

+92.8% YoY

Equity

6,7 Md €

+60.0% YoY

Workforce

510,9 ETP

+21.8% YoY

What does argenx do?

argenx is a Private limited company incorporated in 2009. Its main activity is: Research and experimental development on natural sciences and engineering. Its registered office is in Gent. It employs on average 510,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0818.292.196

Incorporation

04/09/2009

Legal form

Private limited company

Registered office

Industriepark-Zwijnaarde 7
9052 Gent · FlandreSee on map

Contributed capital

6 951 414 599,11 €

Latest accounts

31/12/2025

Average workforce

510,9 ETP

Activities (NACE)

72101Research and experimental development on natural sciences and engineering· main 72110Research and experimental development on biotechnology

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Revenue	4,5 Md €	+92.8%	2,3 Md €	+89.0%	1,2 Md €	+142%	505,3 M €	+2830%	17,2 M €		–		–		–		–		–		–		–		–		–		5,8 M €	+6.4%	5,5 M €
EBITDA	2,9 Md €	+154%	1,1 Md €	+114%	535,6 M €	+133%	230,0 M €	+17.2%	196,2 M €	+227%	-154,0 M €	-1402%	11,8 M €	+821%	-1,6 M €	+97.2%	-58,5 M €	-311%	27,8 M €	+173%	10,2 M €	+27.1%	8,0 M €	+61.8%	4,9 M €	+67.6%	2,9 M €	+497%	493,9 k €	+73.7%	284,2 k €
Operating result	1,6 Md €	+759%	180,6 M €	+147%	-386,6 M €	+22.0%	-495,4 M €	-61.6%	-306,6 M €	+26.5%	-416,9 M €	-144%	-170,6 M €	-125%	-75,8 M €	+35.7%	-117,9 M €	-4507%	2,7 M €	+108%	1,3 M €	+20.8%	1,1 M €	+38.6%	770,2 k €	+25.3%	614,6 k €	+121%	278,6 k €	+227%	85,2 k €
Net result	1,6 Md €	+447%	296,1 M €	+220%	-245,8 M €	+50.9%	-500,8 M €	-32.3%	-378,4 M €	+26.5%	-515,0 M €	-245%	-149,4 M €	-128%	-65,5 M €	+47.2%	-124,0 M €	-4873%	2,6 M €	+108%	1,2 M €	+12.7%	1,1 M €	+40.9%	786,7 k €	+29.4%	607,8 k €	+110%	289,2 k €	+309%	70,8 k €
Balance sheet
Equity	6,7 Md €	+60.0%	4,2 Md €	+9.1%	3,8 Md €	+36.0%	2,8 Md €	+27.0%	2,2 Md €	+87.5%	1,2 Md €	+27.3%	931,2 M €	+144%	382,0 M €	+1914%	-21,1 M €	-373%	7,7 M €	+50.6%	5,1 M €	+32.2%	3,9 M €	+40.0%	2,8 M €	+39.6%	2,0 M €	+44.1%	1,4 M €	+26.6%	1,1 M €
Total assets	8,2 Md €	+35.5%	6,1 Md €	+21.8%	5,0 Md €	+47.1%	3,4 Md €	+29.2%	2,6 Md €	+55.0%	1,7 Md €	+28.8%	1,3 Md €	+181%	467,5 M €	+1212%	35,6 M €	+48.5%	24,0 M €	+16.4%	20,6 M €	+24.4%	16,6 M €	+38.3%	12,0 M €	+32.1%	9,1 M €	+232%	2,7 M €	+20.4%	2,3 M €
Cash	3,5 M €	-10.0%	3,9 M €	-66.2%	11,5 M €	-73.1%	42,7 M €	-57.1%	99,5 M €	-31.3%	144,9 M €	+155%	56,9 M €	+379%	11,9 M €	-35.6%	18,5 M €	+196%	6,2 M €	+143%	2,6 M €	-4.9%	2,7 M €	-14.8%	3,2 M €	+111%	1,5 M €	+19.4%	1,3 M €	-7.2%	1,4 M €
Debts	1,5 Md €	-19.1%	1,9 Md €	+64.0%	1,2 Md €	+103%	568,1 M €	+41.4%	401,8 M €	+48.1%	271,3 M €	+131%	117,2 M €	+39.4%	84,1 M €	+80.3%	46,6 M €	+287%	12,0 M €	+188%	4,2 M €	-15.4%	4,9 M €	+67.0%	3,0 M €	+13.9%	2,6 M €	+91.8%	1,4 M €	+14.7%	1,2 M €
Other
Workforce	510,9 ETP	+21.8%	419,4 ETP	+15.6%	362,8 ETP	+13.0%	321,2 ETP	+29.8%	247,5 ETP	+48.4%	166,8 ETP	+52.9%	109,1 ETP	+48.6%	73,4 ETP	+23.4%	59,5 ETP	+40.0%	42,5 ETP	+27.6%	33,3 ETP	+46.1%	22,8 ETP	+16.9%	19,5 ETP	+18.2%	16,5 ETP	0.0%	16,5 ETP	+23.1%	13,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

more than 1.000 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 8 ended

Active mandates

Arjen Lemmen

Director · since 20 novembre 2025

Active

Filip Borgions

Director · since 20 novembre 2025

Active

Roel Ligteringen

Director · since 20 novembre 2025

Active

ARGENX SE

Director · since 04 septembre 2009 · until 20 novembre 2025

Represented by Tim Van Hauwermeiren

Active

Ended mandates

ARGENX SE

Director · since 04 septembre 2009

Represented by Tim Van Hauwermeiren

Ended

arGEN-X BV

Mandate

Represented by Tim Van Hauwermeiren

Ended

arGEN-X NV

Mandate

Represented by Tim Van Hauwermeiren

Ended

Argenx SE

Director

Represented by Tim Van Hauwermeiren

Ended

At this address

Other companies at this address

Company	CBE no.
argenx Benelux● Active	0751.809.485
Btw-eenheid Argonaut● Active	0798.359.587
Inari Agriculture, NV● Active	0705.873.156

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	25/07/2025	18/06/2024	31/07/2023	08/05/2023	20/07/2021
General meeting	01/06/2026	24/06/2025	03/06/2024	28/07/2023	28/04/2023	28/06/2021
Currency of the financial year	USD	USD	USD	USD	USD	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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	01/06/2026	23/06/2026	Dutch	PDF
Full model	31/12/2024	24/06/2025	25/07/2025	Dutch	PDF
Full model	31/12/2023	03/06/2024	18/06/2024	Dutch	PDF
Full model	31/12/2022	28/07/2023	31/07/2023	Dutch	PDF
Full modelCorrection	31/12/2021	28/04/2023	08/05/2023	Dutch	PDF
Full model	31/12/2021	17/06/2022	28/06/2022	Dutch	PDF
Full model	31/12/2020	28/06/2021	20/07/2021	Dutch	PDF
Full model	31/12/2019	15/06/2020	26/06/2020	Dutch	PDF
Full model	31/12/2018	03/06/2019	14/06/2019	Dutch	PDF
Full modelCorrection	31/12/2017	31/05/2019	07/06/2019	Dutch	PDF
Full model	31/12/2017	04/06/2018	13/06/2018	Dutch	PDF
Full modelCorrection	31/12/2016	05/06/2017	13/06/2018	Dutch	PDF
Full model	31/12/2016	05/06/2017	29/06/2017	Dutch	PDF
Full model	31/12/2015	06/06/2016	28/06/2016	Dutch	PDF
Full model	31/12/2014	01/06/2015	18/06/2015	Dutch	PDF
Full model	31/12/2013	02/06/2014	30/06/2014	Dutch	PDF
Full model	31/12/2012	03/06/2013	04/06/2013	Dutch	PDF
Abridged model	31/12/2011	04/06/2012	20/06/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	21/06/2011	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

more than 1.000 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 · 4 active · 8 ended

Active mandates

Arjen Lemmen

Director · since 20 novembre 2025

Active

Filip Borgions

Director · since 20 novembre 2025

Active

Roel Ligteringen

Director · since 20 novembre 2025

Active

ARGENX SE

Director · since 04 septembre 2009 · until 20 novembre 2025

Represented by Tim Van Hauwermeiren

Active

Ended mandates

ARGENX SE

Director · since 04 septembre 2009

Represented by Tim Van Hauwermeiren

Ended

arGEN-X BV

Mandate

Represented by Tim Van Hauwermeiren

Ended

arGEN-X NV

Mandate

Represented by Tim Van Hauwermeiren

Ended

Argenx SE

Director

Represented by Tim Van Hauwermeiren

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates16/02/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/11/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/05/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/06/2024
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares20/06/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Other04/09/2023
DIVERSEN
PDF
Mandates17/08/2023
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 20251,6 Md €↑
20/11/2025
nominationLIGTERINGEN Roel Hermanus Franciscus — bestuurder
20/11/2025
nominationLEMMEN Arjen — bestuurder
20/11/2025
nominationBORGIONS Filip Mark Evert — bestuurder
20/11/2025
apport
24/06/2025
nominationEY Bedrijfsrevisoren BV — commissaris
2024
Annual accounts 2024296,1 M €↑
04/06/2024
apport
03/06/2024
reconductionDeloitte Bedrijfsrevisoren — commissaris
2023
Annual accounts 2023-245,8 M €↑
2022
Annual accounts 2022-500,8 M €↓
2021
Annual accounts 2021-378,4 M €↑
2020
Annual accounts 2020-515,0 M €↓
2019
Annual accounts 2019-149,4 M €↓
2018
Annual accounts 2018-65,5 M €↑
2017
Annual accounts 2017-124,0 M €↓
2016
Annual accounts 20162,6 M €↑
2015
Annual accounts 20151,2 M €↑
2015
Name changeargenx
2014
Annual accounts 20141,1 M €↑
2013
Annual accounts 2013786,7 k €↑
2012
Annual accounts 2012607,8 k €↑
2011
Annual accounts 2011289,2 k €↑
2010
Annual accounts 201070,8 k €
2010
Name changearGEN-X
04/09/2009
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

argenx

Overview

What does argenx do?

Trend over 16 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

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