ACTIVE

SOLAR FINANCE

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Financial year 2025 · Closed on 31/12/2025

Net result1,3 M €+20,5 %over 1 year
Revenue5,9 M €+10,0 %over 1 year
Equity6,7 M €+24,2 %over 1 year

Identity

Source · BCE/KBO

SOLAR FINANCE is a Public limited company incorporated in 2010. Its main activity is: Production of electricity. Its registered office is in Antwerpen.

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0829.649.116
Incorporation
24/09/2010
Legal form
Public limited company
Registered office
Karel Oomsstraat 37
2018 Antwerpen · FlandreSee on map
Contributed capital
4 912 969,33 €
Latest accounts
31/12/2025
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

Financials

Source · NBB, 15 filings

Trend over 14 financial years

20252024202320222021
Income statement
Revenue5,9 M €5,4 M €6,3 M €8,1 M €5,8 M €
EBITDA4,4 M €4,2 M €5 M €6,3 M €4,8 M €
Operating result2,3 M €2,1 M €2,9 M €4,3 M €2,7 M €
Net result1,3 M €1,1 M €1,6 M €2,5 M €989,8 k €
Balance sheet
Equity6,7 M €5,4 M €5,4 M €5,4 M €6,3 M €
Total assets17,4 M €20,3 M €22,1 M €26,2 M €28,3 M €
Cash3,5 M €3,8 M €3,4 M €5,6 M €6 M €
Debts10,7 M €14,8 M €16,6 M €20,7 M €22 M €

Valuation

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

4 active · 32 ended

Active mandates

TINC

Director · since 26 mars 2026 · until 03 mai 2032 · 0894.555.972

Represented by Felix Heylen

Active
Charles Libert

Director · since 07 septembre 2023 · until 07 mai 2029

Active
EQUANS

Director · since 07 juin 2021 · until 03 mai 2027 · 0425.702.910

Represented by Walter VAN DENBERGHE

Active
TINC

Director · since 07 juin 2021 · until 25 mars 2026 · 0894.555.972

Represented by Stéphanie Dobbelaere

Active

Ended mandates

Flor Van Eeghem

Director · since 17 décembre 2021 · until 06 septembre 2023

Ended
Flor Van Eeghem

Director · since 17 décembre 2021 · until 03 mai 2027

Ended
Arnaud Wilmet

Director · since 07 juin 2021 · until 17 décembre 2021

Ended
EQUANS

Director · since 07 juin 2021 · until 03 mai 2027 · 0425.702.910

Represented by Mark Dirckx

Ended

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Full financial information

Source · NBB
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 date26/05/202623/05/202510/06/202403/07/202323/05/202229/06/2021
General meeting04/05/202605/05/202531/05/202409/06/202302/05/202207/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 15 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202504/05/202626/05/2026DutchPDF
Full model31/12/202405/05/202523/05/2025DutchPDF
Full model31/12/202331/05/202410/06/2024DutchPDF
Full model31/12/202209/06/202303/07/2023DutchPDF
Full model31/12/202102/05/202223/05/2022DutchPDF
Full model31/12/202007/06/202129/06/2021DutchPDF
Full model31/12/201904/05/202022/06/2020DutchPDF
Full model31/12/201806/05/201911/06/2019DutchPDF
Full model31/12/201701/06/201805/06/2018DutchPDF
Full model31/12/201602/06/201729/06/2017DutchPDF
Full model31/12/201520/05/201608/06/2016DutchPDF
Full model31/12/201420/05/201516/06/2015DutchPDF
Full model31/12/201305/05/201402/07/2014DutchPDF
Full model31/12/201206/05/201309/07/2013DutchPDF
Full model31/12/201107/05/201205/07/2012DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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.

Board of directors

Source · NBB, accounts to 31/12/2025

4 active · 32 ended

Active mandates

TINC

Director · since 26 mars 2026 · until 03 mai 2032 · 0894.555.972

Represented by Felix Heylen

Active
Charles Libert

Director · since 07 septembre 2023 · until 07 mai 2029

Active
EQUANS

Director · since 07 juin 2021 · until 03 mai 2027 · 0425.702.910

Represented by Walter VAN DENBERGHE

Active
TINC

Director · since 07 juin 2021 · until 25 mars 2026 · 0894.555.972

Represented by Stéphanie Dobbelaere

Active

Ended mandates

Flor Van Eeghem

Director · since 17 décembre 2021 · until 06 septembre 2023

Ended
Flor Van Eeghem

Director · since 17 décembre 2021 · until 03 mai 2027

Ended
Arnaud Wilmet

Director · since 07 juin 2021 · until 17 décembre 2021

Ended
EQUANS

Director · since 07 juin 2021 · until 03 mai 2027 · 0425.702.910

Represented by Mark Dirckx

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates16/07/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates16/06/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other23/01/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates13/11/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates28/09/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates27/01/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates13/12/2021
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates18/10/2021
    ONTSLAGEN - BENOEMINGEN
    PDF

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 20251,3 M €↑
  2. 2024
    Annual accounts 20241,1 M €↓
  3. 2023
    Annual accounts 20231,6 M €↓
  4. 2022
    Annual accounts 20222,5 M €↑
  5. 2021
    Annual accounts 2021989,8 k €↓
  6. 2019
    Annual accounts 20191,3 M €↓
  7. 2018
    Annual accounts 20181,4 M €↑
  8. 2017
    Annual accounts 2017819,8 k €↑
  9. 2016
    Annual accounts 2016812,9 k €↓
  10. 2015
    Annual accounts 20151,3 M €↑
  11. 2014
    Annual accounts 2014860,9 k €↑
  12. 2013
    Annual accounts 2013601,2 k €↑
  13. 2012
    Annual accounts 2012-350,8 k €↓
  14. 2011
    Annual accounts 2011-96,9 k €
  15. 24/09/2010
    IncorporationPublic limited company