ACTIVE

LINEAS GROUP

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

-3,4 M €

-887.6% YoY

Revenue

14,5 k €

-29.4% YoY

Equity

177,2 M €

-1.9% YoY

What does LINEAS GROUP do?

LINEAS GROUP is a Public limited company incorporated in 2010. Its main activity is: Freight rail transport. Its registered office is in Schaerbeek.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0822.966.806

Incorporation

08/02/2010

Legal form

Public limited company

Registered office

Boulevard du Roi AlbertII 37
1030 Schaerbeek · BruxellesSee on map

Contributed capital

169 422 902,87 €

Latest accounts

31/12/2025

Activities (NACE)

49200Freight rail transport· main 49200Freight rail transport 64200Activities of holding companies 64210Activities of holding companies 49410Freight transport by road 49410Freight transport by road

Joint committees (3)

140
14003
226

Contacts

2 public details availableLog in to view

Signals

Solid equityLow riskGood liquidityPositive EBITDA

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 11 financial years

	2025		2024		2020		2019		2018		2017		2015		2014		2013		2012		2011
Income statement
Revenue	14,5 k €	-29.4%	20,5 k €		–		–		348,5 M €	-32.5%	516,1 M €	+56.2%	330,4 M €	+1.3%	326,1 M €	-7.3%	351,9 M €	-9.2%	387,6 M €	-4.0%	403,9 M €
EBITDA	128 k €	-64.9%	364,6 k €	-89.2%	3,4 M €	-25.7%	4,5 M €	-98.1%	237,2 M €	+238%	70,2 M €	+1398%	-5,4 M €	-30.1%	-4,2 M €	+37.2%	-6,6 M €	-206%	6,2 M €	+108%	-78,6 M €
Operating result	-308,2 k €	-136%	-130,3 k €	-109%	1,5 M €	+148%	-3,2 M €	-101%	213,7 M €	+565%	32,1 M €	+252%	-21,1 M €	-3.4%	-20,4 M €	+14.4%	-23,8 M €	-99.9%	-11,9 M €	+88.0%	-99,3 M €
Net result	-3,4 M €	-888%	427,9 k €	-91.0%	4,7 M €	+262%	1,3 M €	-99.4%	208 M €	+802%	23,1 M €	+212%	-20,6 M €	+46.6%	-38,5 M €	-5.8%	-36,4 M €	+47.9%	-69,9 M €	+62.2%	-185 M €
Balance sheet
Equity	177,2 M €	-1.9%	180,6 M €	-55.7%	407,5 M €	+1.1%	403,2 M €	+0.4%	401,5 M €	+108%	193,4 M €	+13.5%	170,4 M €	+18.6%	143,7 M €	-21.1%	182,2 M €	-16.7%	218,7 M €	-23.7%	286,5 M €
Total assets	263 M €	+29.3%	203,4 M €	-51.2%	417,1 M €	-12.9%	478,9 M €	-12.1%	544,6 M €	+1.6%	536,1 M €	+2.3%	524 M €	+33.1%	393,8 M €	-13.2%	453,7 M €	-8.1%	493,9 M €	-18.8%	608,2 M €
Cash	10,8 M €	+92.9%	5,6 M €	-19.0%	6,9 M €	-63.5%	18,9 M €	-13.8%	21,9 M €	+85.2%	11,8 M €	-77.0%	51,6 M €	+954%	4,9 M €	-67.9%	15,3 M €	+11.8%	13,7 M €	+615%	1,9 M €
Debts	81,1 M €	+275%	21,6 M €	+137%	9,1 M €	-87.8%	74,7 M €	-47.3%	141,8 M €	-56.8%	328,1 M €	-2.6%	336,9 M €	+43.1%	235,5 M €	-8.9%	258,6 M €	-1.4%	262,4 M €	-1.6%	266,6 M €
Other
Workforce	–		–		–		1,0 ETP	-99.9%	914,2 ETP	+11.0%	823,4 ETP	+57.0%	524,5 ETP	+6.3%	493,4 ETP	+32.5%	372,5 ETP	+20.6%	308,8 ETP	+91.2%	161,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 13 active · 52 ended

Active mandates

Participatiemaatschappij Vlaanderen

Director · since 29 avril 2026 · until 25 mai 2032 · 0455.777.660

Represented by Jeroen Vergote

Active

SPARAXIS

Director · since 29 avril 2026 · until 25 mai 2032 · 0452.116.307

Represented by Vincent Vandrepol

Active

BERNARD GUSTIN SRL

Chairman of the board of directors · since 25 juillet 2025 · until 29 avril 2026 · 0898.567.418

Represented by Bernard Gustin

Active

VAN OCKENBURG CONSULTING

Director · since 02 mai 2025 · until 28 mai 2030 · 0694.682.029

Represented by Eric van Ockenburg

Active

Dorian Feron

Director · since 13 mai 2023 · until 29 mai 2029

Active

Karel Kroupa

Director · since 13 mai 2023 · until 29 avril 2026

Active

B LOGISTICS HOLDING

Director · since 28 juin 2022 · until 29 avril 2026 · 0635.949.618

Represented by Maarten Meijssen

Active

Gilles Mougenot

Director · since 28 juin 2022 · until 29 avril 2026

Active

Richard Reis

Director · since 28 juin 2022 · until 29 avril 2026

Active

SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT

Director · since 28 juin 2022 · until 30 mai 2028 · 0253.445.063

Represented by Adrien Gassée

Active

Arne Louwagie

Director · since 02 juin 2022 · until 29 avril 2026

Active

GEMA

Director · since 02 juin 2022 · until 29 avril 2026 · 0841.256.551

Represented by Michel Allé

Active

Jessica Peters

Director · since 02 juin 2022 · until 29 avril 2026

Active

Ended mandates

Dorian Feron

Director · since 13 mai 2023 · until 28 juin 2028

Ended

Karel Kroupa

Director · since 13 mai 2023 · until 28 juin 2028

Ended

B LOGISTICS HOLDING

Director · since 28 juin 2022 · until 28 juin 2028 · 0635.949.618

Represented by Maarten Meijssen

Ended

Richard Reis

Director · since 28 juin 2022 · until 28 juin 2028

Ended

At this address

Other companies at this address

Company	CBE no.
ATRIAS● Active	0836.258.873
B LOGISTICS HOLDING● Active	0635.949.618
Entreprise publique des Technologies Numériques de l'Information et de la Communication de la Communauté française● Active	0536.164.530
IBCOL Technical Services Belgium● Active	1021.609.146
International Network of Insurance● Active	0848.530.066
LINEAS● Active	0896.067.192
Luisterpuntbibliotheek● Active	0895.917.239
Modal Shifters● Active	0638.877.236
MSIG EUROPE● Active	0644.921.425
MSIG Specialty Marine● Active	0670.726.393
MWingz● Active	0738.987.372
NMBS LOGISTICS GROEP● Active	0838.084.354
Stichting Modal Shifters● Active	0681.706.003
Zefier● Active	0680.832.904

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Consolidated accounts
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/07/2020	01/07/2019
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	18 months	12 months
Filing date	16/06/2026	28/07/2025	27/07/2024	26/07/2023	29/06/2022	13/01/2021
General meeting	26/05/2026	25/07/2025	28/06/2024	30/06/2023	28/06/2022	18/12/2020
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

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

30 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/05/2026	16/06/2026	Dutch	PDF
Full model	31/12/2024	25/07/2025	28/07/2025	Dutch	PDF
Consolidated accounts	31/12/2024	25/07/2025	28/07/2025	French	PDF
Full model	31/12/2023	28/06/2024	27/07/2024	Dutch	PDF
Consolidated accounts	31/12/2023	28/06/2024	27/07/2024	French	PDF
Full model	31/12/2022	30/06/2023	26/07/2023	French	PDF
Consolidated accounts	31/12/2022	30/06/2023	26/07/2023	French	PDF
Full model	31/12/2021	28/06/2022	29/06/2022	French	PDF
Consolidated accounts	31/12/2021	28/06/2022	29/06/2022	French	PDF
Full model	30/06/2020	18/12/2020	07/01/2021	French	PDF
Consolidated accounts	30/06/2020	18/12/2020	13/01/2021	French	PDF
Full model	30/06/2019	19/12/2019	20/12/2019	French	PDF
Consolidated accounts	30/06/2019	19/12/2019	20/12/2019	French	PDF
Full model	30/06/2018	20/12/2018	17/01/2019	Dutch	PDF
Consolidated accounts	30/06/2018	16/11/2018	29/01/2019	Dutch	PDF
Full model	30/06/2017	23/11/2017	20/12/2017	Dutch	PDF
Consolidated accounts	30/06/2017	23/11/2017	21/12/2017	Dutch	PDF
Full model	31/12/2015	29/04/2016	27/05/2016	Dutch	PDF
Consolidated accounts	31/12/2015	29/04/2016	20/05/2016	French	PDF
Full model	31/12/2014	28/04/2015	01/06/2015	Dutch	PDF
Consolidated accounts	31/12/2014	28/04/2015	25/06/2015	French	PDF
Full model	31/12/2013	30/04/2014	17/07/2014	Dutch	PDF
Full model	31/12/2012	17/04/2013	24/05/2013	French	PDF
Full model	31/12/2012	17/04/2013	24/05/2013	Dutch	PDF

View all 30 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 13 active · 52 ended

Active mandates

Participatiemaatschappij Vlaanderen

Director · since 29 avril 2026 · until 25 mai 2032 · 0455.777.660

Represented by Jeroen Vergote

Active

SPARAXIS

Director · since 29 avril 2026 · until 25 mai 2032 · 0452.116.307

Represented by Vincent Vandrepol

Active

BERNARD GUSTIN SRL

Chairman of the board of directors · since 25 juillet 2025 · until 29 avril 2026 · 0898.567.418

Represented by Bernard Gustin

Active

VAN OCKENBURG CONSULTING

Director · since 02 mai 2025 · until 28 mai 2030 · 0694.682.029

Represented by Eric van Ockenburg

Active

Dorian Feron

Director · since 13 mai 2023 · until 29 mai 2029

Active

Karel Kroupa

Director · since 13 mai 2023 · until 29 avril 2026

Active

B LOGISTICS HOLDING

Director · since 28 juin 2022 · until 29 avril 2026 · 0635.949.618

Represented by Maarten Meijssen

Active

Gilles Mougenot

Director · since 28 juin 2022 · until 29 avril 2026

Active

Richard Reis

Director · since 28 juin 2022 · until 29 avril 2026

Active

SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT

Director · since 28 juin 2022 · until 30 mai 2028 · 0253.445.063

Represented by Adrien Gassée

Active

Arne Louwagie

Director · since 02 juin 2022 · until 29 avril 2026

Active

GEMA

Director · since 02 juin 2022 · until 29 avril 2026 · 0841.256.551

Represented by Michel Allé

Active

Jessica Peters

Director · since 02 juin 2022 · until 29 avril 2026

Active

Ended mandates

Dorian Feron

Director · since 13 mai 2023 · until 28 juin 2028

Ended

Karel Kroupa

Director · since 13 mai 2023 · until 28 juin 2028

Ended

B LOGISTICS HOLDING

Director · since 28 juin 2022 · until 28 juin 2028 · 0635.949.618

Represented by Maarten Meijssen

Ended

Richard Reis

Director · since 28 juin 2022 · until 28 juin 2028

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates02/06/2026
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other15/09/2025
DIVERSEN
PDF
Mandates21/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares20/01/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Other18/09/2024
DIVERSEN
PDF
Mandates20/08/2024
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

29/04/2026
nominationVANDREPOL Vincent — vaste vertegenwoordiger (bestuurder)
29/04/2026
nominationVERGOTE Jeroen — vaste vertegenwoordiger (bestuurder)
29/04/2026
augmentation_capital
2025
Annual accounts 2025-3,4 M €↓
01/10/2025
nominationAdrien Gassée — vaste vertegenwoordiger
25/07/2025
nominationB-G SRL — bestuurder en voorzitter van de raad van bestuur
25/07/2025
nominationGilles Mougenot — bestuurder
25/07/2025
nominationRichard Reis — bestuurder
25/07/2025
nominationB Logistics Holdings NV — bestuurder
25/07/2025
nominationArne Louwagie — bestuurder
25/07/2025
nominationJessica Peters — bestuurder
25/07/2025
nominationKarel Kroupa — bestuurder
25/07/2025
nominationFederale Participatie- en Investeringsmaatschappij NV van openbaar nut — bestuurder
25/07/2025
nominationDorian Féron — bestuurder
25/07/2025
nominationGEMA SRL — bestuurder
25/07/2025
nominationVAN OCKENBURG CONSULTING BV — bestuurder
02/05/2025
nominationEric van Ockenburg — bestuurder
2024
Annual accounts 2024427,9 k €↓
30/12/2024
reduction_capital
28/06/2024
reconductionForvis Mazars Bedrijfsrevisoren BV — commissaris
01/02/2024
augmentation_capital
30/06/2023
nominationRomuald Billem — commissaris
12/05/2023
augmentation_capital
12/05/2023
nominationFÉRON Dorian François Isabelle Camille — niet-statutaire bestuurders
12/05/2023
nominationKROUPA Karel — niet-statutaire bestuurders
12/05/2023
nominationFÉRON Dorian François Isabelle Camille — administrateur non statutaire
12/05/2023
nominationKROUPA Karel — administrateur non statutaire
07/12/2022
nominationTHE FUTURE IS BRIGHT BV — bestuurder
28/06/2022
nominationGilles Mougenot — bestuurder
28/06/2022
nominationRichard Reis — bestuurder
28/06/2022
nominationFPIM NV — bestuurder
28/06/2022
nominationB Logistics Holding NV — bestuurder
02/06/2022
nominationGEMA SRL — bestuurder
02/06/2022
nominationJessica Peters — bestuurder
02/06/2022
nominationArne Louwagie — bestuurder
2020
Annual accounts 20204,7 M €↑
2019
Annual accounts 20191,3 M €↓
2018
Annual accounts 2018208 M €↑
2017
Annual accounts 201723,1 M €↑
2015
Annual accounts 2015-20,6 M €↑
2014
Annual accounts 2014-38,5 M €↓
2013
Annual accounts 2013-36,4 M €↑
2012
Annual accounts 2012-69,9 M €↑
2011
Annual accounts 2011-185 M €
08/02/2010
IncorporationPublic 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

LINEAS GROUP

Overview

What does LINEAS GROUP do?

Trend over 11 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