ACTIVE

LIMBURG WIN(D)T

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Financial year 2025 · closed on 31/12/2025
Net result
3,3 M €
-70.9% YoY
Revenue
23 M €
-23.9% YoY
Equity
6 M €
+0.0% YoY

What does LIMBURG WIN(D)T do?

LIMBURG WIN(D)T is a Public limited company incorporated in 2009. Its main activity is: Production of electricity. Its registered office is in Hasselt.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0820.832.113
Incorporation
24/11/2009
Legal form
Public limited company
Registered office
Herkenrodesingel 14
3500 Hasselt · FlandreSee on map
Contributed capital
5 450 225,25 €
Latest accounts
31/12/2025
Activities (NACE)
35110Production of electricity· main35110Production of electricity
Signals
ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue
View the BCE/KBO Public Search record →
Health score
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Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 15 financial years

202520242023202220212020201920182017201620152013201220112010
Income statement
Revenue23 M €30,2 M €44 M €24,9 M €21,6 M €26,1 M €29,3 M €23,9 M €18,3 M €13 M €14,3 M €6,8 M €5,5 M €1,7 M €–
EBITDA14,1 M €23,8 M €35 M €18,7 M €15,3 M €21,4 M €22,7 M €20,1 M €15,3 M €10,1 M €10,5 M €5,4 M €4,4 M €1,1 M €-222,4 k €
Operating result5,7 M €15,6 M €25,1 M €8,3 M €3,7 M €9,3 M €10,5 M €7,9 M €5,1 M €1,4 M €4,2 M €1,5 M €1,8 M €503,1 k €-228,7 k €
Net result3,3 M €11,2 M €18,1 M €6 M €2,8 M €6,7 M €7,2 M €5,5 M €3,5 M €-481,8 k €2,4 M €-185,1 k €778,9 k €409,1 k €-226,3 k €
Balance sheet
Equity6 M €6 M €6 M €6 M €6 M €6 M €8,9 M €8,9 M €8,9 M €8,9 M €9,4 M €7,3 M €7,5 M €6,7 M €1,8 M €
Total assets56,3 M €69,4 M €75,4 M €63,1 M €64,9 M €76 M €83,4 M €89,9 M €91,8 M €82,6 M €74,8 M €66,5 M €40,6 M €34,3 M €1,9 M €
Cash1,9 M €3,5 M €4,8 M €3,4 M €2,4 M €525,2 k €3,9 M €7,8 M €2,3 M €2 M €4,8 M €4,5 M €1,3 M €676,3 k €14,8 k €
Debts47,9 M €61,2 M €66,7 M €55,1 M €56,6 M €68,3 M €72,8 M €79,5 M €81,7 M €72,6 M €64,5 M €58,6 M €32,6 M €27,5 M €71,8 k €
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 · 7 active · 24 ended

Active mandates

Bernard Steverlynck

Managing director · since 17 juin 2025 · until 08 avril 2026

Active
LIMBURGSE RECONVERSIE MAATSCHAPPIJ

Director · since 13 avril 2022 · until 12 avril 2028 · 0452.138.972

Active
LRM Beheer

Director · since 13 avril 2022 · until 12 avril 2028 · 0440.550.442

Represented by Roeland Engelen

Active
Ludo Kelchtermans

Director · since 13 avril 2022 · until 12 avril 2028

Active
Mark Vanleeuw

Chairman of the board of directors · since 13 avril 2022 · until 12 avril 2028

Active
Peter Jans

Director · since 13 avril 2022 · until 12 avril 2028

Active
Rik Van de Walle

Managing director · since 13 avril 2022 · until 17 juin 2025

Active

Ended mandates

Rik Van de Walle

Managing director · since 13 avril 2022 · until 12 avril 2028

Ended
Mark Vanleeuw

Chairman of the board of directors · since 08 avril 2020 · until 13 avril 2022

Ended
Mark Vanleeuw

Chairman of the board of directors · since 08 octobre 2019 · until 08 avril 2020

Ended
LIMBURGSE RECONVERSIE MAATSCHAPPIJ

Director · since 13 avril 2016 · until 13 avril 2022 · 0452.138.972

Represented by Roeland Engelen

Ended
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Annual accounts

Full financial information

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 date08/05/202610/06/202517/06/202404/05/202305/05/202220/04/2021
General meeting08/04/202609/04/202510/04/202412/04/202313/04/202214/04/2021
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

17 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202508/04/202608/05/2026DutchPDF
Full modelCorrection31/12/202409/04/202510/06/2025DutchPDF
Full model31/12/202409/04/202528/05/2025DutchPDF
Full model31/12/202310/04/202417/06/2024DutchPDF
Full model31/12/202212/04/202304/05/2023DutchPDF
Full model31/12/202113/04/202205/05/2022DutchPDF
Full model31/12/202014/04/202120/04/2021DutchPDF
Full model31/12/201908/04/202017/04/2020DutchPDF
Full model31/12/201810/04/201929/04/2019DutchPDF
Full model31/12/201711/04/201802/05/2018DutchPDF
Full model31/12/201612/04/201702/05/2017DutchPDF
Full model31/12/201513/04/201628/04/2016DutchPDF
Full model31/12/201408/04/201529/04/2015DutchPDF
Full model31/12/201309/04/201402/05/2014DutchPDF
Full model31/12/201210/04/201325/04/2013DutchPDF
Full model31/12/201111/04/201211/05/2012DutchPDF
Full model31/12/201013/04/201111/05/2011DutchPDF
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 · 7 active · 24 ended

Active mandates

Bernard Steverlynck

Managing director · since 17 juin 2025 · until 08 avril 2026

Active
LIMBURGSE RECONVERSIE MAATSCHAPPIJ

Director · since 13 avril 2022 · until 12 avril 2028 · 0452.138.972

Active
LRM Beheer

Director · since 13 avril 2022 · until 12 avril 2028 · 0440.550.442

Represented by Roeland Engelen

Active
Ludo Kelchtermans

Director · since 13 avril 2022 · until 12 avril 2028

Active
Mark Vanleeuw

Chairman of the board of directors · since 13 avril 2022 · until 12 avril 2028

Active
Peter Jans

Director · since 13 avril 2022 · until 12 avril 2028

Active
Rik Van de Walle

Managing director · since 13 avril 2022 · until 17 juin 2025

Active

Ended mandates

Rik Van de Walle

Managing director · since 13 avril 2022 · until 12 avril 2028

Ended
Mark Vanleeuw

Chairman of the board of directors · since 08 avril 2020 · until 13 avril 2022

Ended
Mark Vanleeuw

Chairman of the board of directors · since 08 octobre 2019 · until 08 avril 2020

Ended
LIMBURGSE RECONVERSIE MAATSCHAPPIJ

Director · since 13 avril 2016 · until 13 avril 2022 · 0452.138.972

Represented by Roeland Engelen

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates22/07/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates25/03/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office11/02/2026
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates13/08/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other06/12/2023
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates20/06/2023
    MAATSCHAPPELIJKE ZETEL - ADRESSEN ANDERS DAN MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates20/04/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates22/07/2022
    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

Timeline

  1. 16/02/2026
    nominationLuc Driesen — vaste vertegenwoordiger van bestuurder LRM Beheer nv
  2. 2025
    Annual accounts 20253,3 M €↓
  3. 17/06/2025
    nominationBernard Steverlynck — bestuurder
  4. 2024
    Annual accounts 202411,2 M €↓
  5. 2023
    Annual accounts 202318,1 M €↑
  6. 12/04/2023
    nominationFrancis Boelens — vaste vertegenwoordiger (commissaris)
  7. 01/01/2023
    nominationRoeland Engelen — vaste vertegenwoordiger ter uitvoering van het bestuursmandaat van LRM Beheer nv
  8. 01/01/2023
    nominationTom Vanham — vaste vertegenwoordiger ter uitvoering van het bestuursmandaat van LRM nv
  9. 2022
    Annual accounts 20226 M €↑
  10. 13/04/2022
    reconductionVanleeuw Mark — bestuurder
  11. 13/04/2022
    reconductionJans Peter — bestuurder
  12. 13/04/2022
    reconductionKelchtermans Ludo — bestuurder
  13. 13/04/2022
    reconductionVan de Walle Rik — bestuurder
  14. 2021
    Annual accounts 20212,8 M €↓
  15. 2020
    Annual accounts 20206,7 M €↓
  16. 2019
    Annual accounts 20197,2 M €↑
  17. 2018
    Annual accounts 20185,5 M €↑
  18. 2017
    Annual accounts 20173,5 M €↑
  19. 2016
    Annual accounts 2016-481,8 k €↓
  20. 2015
    Annual accounts 20152,4 M €↑
  21. 2013
    Annual accounts 2013-185,1 k €↓
  22. 2012
    Annual accounts 2012778,9 k €↑
  23. 2011
    Annual accounts 2011409,1 k €↑
  24. 2010
    Annual accounts 2010-226,3 k €
  25. 24/11/2009
    IncorporationPublic limited company