ACTIVE

PMF Infrastructure Fund

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Financial year 2025 · closed on 31/12/2025

Net result

2,1 M €

-28.2% YoY

Equity

18,3 M €

+1.2% YoY

What does PMF Infrastructure Fund do?

PMF Infrastructure Fund is a Public limited company incorporated in 2011. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0841.334.448

Incorporation

25/11/2011

Legal form

Public limited company

Registered office

Rue du Vieux Marché aux Grains 63
1000 Bruxelles · BruxellesSee on map

Contributed capital

17 167 945,51 €

Latest accounts

31/12/2025

Signals

ProfitableGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

Health score

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Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012
Income statement
EBITDA	-364,9 k €	+1.0%	-368,6 k €	+1.5%	-374,2 k €	+6.5%	-400,2 k €	-14.7%	-348,9 k €	+3.2%	-360,3 k €	-0.1%	-360,1 k €	-3.0%	-349,8 k €	+46.8%	-657,4 k €	-8.4%	-606,4 k €	+27.3%	-834,6 k €	-5.5%	-791,4 k €	-34.0%	-590,5 k €	+28.3%	-823,7 k €
Operating result	-364,9 k €	+1.0%	-368,6 k €	+1.5%	-374,2 k €	+6.5%	-400,2 k €	-14.7%	-348,9 k €	+3.2%	-360,3 k €	-0.1%	-360,1 k €	-1.3%	-355,4 k €	+48.1%	-685,4 k €	+8.1%	-745,5 k €	+23.5%	-974,6 k €	-4.1%	-935,8 k €	-28.4%	-728,7 k €	+22.6%	-941,4 k €
Net result	2,1 M €	-28.2%	2,9 M €	-18.7%	3,6 M €	+37.7%	2,6 M €	+141%	1,1 M €	+28.1%	843,1 k €	-73.9%	3,2 M €	-0.9%	3,3 M €	+984%	-368,8 k €	-1001%	40,9 k €	-93.5%	631,5 k €	-28.8%	886,4 k €	+5830%	-15,5 k €	+98.2%	-850,3 k €
Balance sheet
Equity	18,3 M €	+1.2%	18,1 M €	-4.2%	18,9 M €	+1.0%	18,7 M €	-3.1%	19,3 M €	-13.2%	22,2 M €	-5.0%	23,4 M €	+16.1%	20,1 M €	+19.3%	16,9 M €	-2.1%	17,2 M €	-3.3%	17,8 M €	+3.7%	17,2 M €	+230%	5,2 M €	+168%	1,9 M €
Total assets	68,6 M €	-6.8%	73,7 M €	-7.0%	79,2 M €	-3.1%	81,8 M €	-2.9%	84,2 M €	-5.5%	89,1 M €	-1.8%	90,7 M €	+3.7%	87,5 M €	-4.6%	91,8 M €	-7.9%	99,6 M €	+18.2%	84,3 M €	+86.9%	45,1 M €	+87.8%	24 M €	+49.1%	16,1 M €
Cash	1,4 M €	+91.2%	706,5 k €	-79.7%	3,5 M €	+34.2%	2,6 M €	+120%	1,2 M €	-59.5%	2,9 M €	-48.7%	5,7 M €	+229%	1,7 M €	-37.9%	2,8 M €	+7.7%	2,6 M €	-1.4%	2,6 M €	+194%	890,4 k €	+89.2%	470,5 k €	+89.7%	248 k €
Debts	50,4 M €	-9.4%	55,6 M €	-7.9%	60,4 M €	-4.3%	63,1 M €	-2.9%	65 M €	-2.9%	66,9 M €	-0.7%	67,4 M €	-0.0%	67,4 M €	-10.0%	74,9 M €	-4.6%	78,5 M €	+23.1%	63,8 M €	+140%	26,6 M €	+49.4%	17,8 M €	+31.8%	13,5 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 18 ended

Active mandates

Tom Mortier

bestuurder · since 01 juillet 2021 · until 05 mai 2026

Active

JVAST-Consulting

Director · since 05 mai 2020 · until 05 mai 2026 · 0839.774.134

Represented by Jhony Van Steen

Active

LUGOST

Director · since 05 mai 2020 · until 05 mai 2026 · 0882.417.413

Represented by Luc Karel Philips

Active

Participatiemaatschappij Vlaanderen

Director · since 05 mai 2020 · until 05 mai 2026 · 0455.777.660

Represented by Werner Decrem

Active

Pieter Vandendriessche

Director · since 05 mai 2020 · until 05 mai 2026

Active

Ended mandates

Wouter Everaert

Director · since 18 décembre 2020 · until 30 juin 2021

Ended

Wouter Everaert

Director · since 18 décembre 2020 · until 05 mai 2026

Ended

LUGOST

Director · since 05 mai 2020 · until 05 mai 2026 · 0882.417.413

Represented by Luc Karel Philips

Ended

Philip Borremans

Director · since 05 mai 2020 · until 09 novembre 2020

Ended

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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	02/06/2026	15/05/2025	17/05/2024	25/05/2023	11/05/2022	12/05/2021
General meeting	29/05/2026	06/05/2025	07/05/2024	23/05/2023	03/05/2022	04/05/2021
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

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Filings

Annual accounts filings

23 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	29/05/2026	02/06/2026	Dutch	PDF
Consolidated accounts	31/12/2025	29/05/2026	02/06/2026	Dutch	PDF
Full model	31/12/2024	06/05/2025	15/05/2025	Dutch	PDF
Consolidated accounts	31/12/2024	06/05/2025	15/05/2025	Dutch	PDF
Full model	31/12/2023	07/05/2024	17/05/2024	Dutch	PDF
Consolidated accounts	31/12/2023	07/05/2024	17/05/2024	Dutch	PDF
Full model	31/12/2022	23/05/2023	25/05/2023	Dutch	PDF
Consolidated accounts	31/12/2022	23/05/2023	25/05/2023	Dutch	PDF
Full model	31/12/2021	03/05/2022	11/05/2022	Dutch	PDF
Consolidated accounts	31/12/2021	03/05/2022	11/05/2022	Dutch	PDF
Full model	31/12/2020	04/05/2021	12/05/2021	Dutch	PDF
Consolidated accounts	31/12/2020	04/05/2021	12/05/2021	Dutch	PDF
Full model	31/12/2019	05/05/2020	02/06/2020	Dutch	PDF
Consolidated accounts	31/12/2019	05/05/2020	02/06/2020	Dutch	PDF
Full model	31/12/2018	28/06/2019	05/07/2019	Dutch	PDF
Consolidated accounts	31/12/2018	28/06/2019	05/07/2019	Dutch	PDF
Full model	31/12/2017	02/05/2018	23/05/2018	Dutch	PDF
Full model	31/12/2016	02/05/2017	23/05/2017	Dutch	PDF
Full modelCorrection	31/12/2015	03/05/2016	19/04/2017	Dutch	PDF
Full model	31/12/2015	03/05/2016	26/05/2016	Dutch	PDF
Full model	31/12/2014	05/05/2015	28/05/2015	Dutch	PDF
Full model	31/12/2013	06/05/2014	06/06/2014	Dutch	PDF
Full model	31/12/2012	07/05/2013	05/06/2013	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 5 active · 18 ended

Active mandates

Tom Mortier

bestuurder · since 01 juillet 2021 · until 05 mai 2026

Active

JVAST-Consulting

Director · since 05 mai 2020 · until 05 mai 2026 · 0839.774.134

Represented by Jhony Van Steen

Active

LUGOST

Director · since 05 mai 2020 · until 05 mai 2026 · 0882.417.413

Represented by Luc Karel Philips

Active

Participatiemaatschappij Vlaanderen

Director · since 05 mai 2020 · until 05 mai 2026 · 0455.777.660

Represented by Werner Decrem

Active

Pieter Vandendriessche

Director · since 05 mai 2020 · until 05 mai 2026

Active

Ended mandates

Wouter Everaert

Director · since 18 décembre 2020 · until 30 juin 2021

Ended

Wouter Everaert

Director · since 18 décembre 2020 · until 05 mai 2026

Ended

LUGOST

Director · since 05 mai 2020 · until 05 mai 2026 · 0882.417.413

Represented by Luc Karel Philips

Ended

Philip Borremans

Director · since 05 mai 2020 · until 09 novembre 2020

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates13/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/10/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/05/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/02/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/06/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/06/2018
ONTSLAGEN - BENOEMINGEN
PDF
Other04/06/2018
DIVERSEN
PDF
Mandates19/02/2018
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 20252,1 M €↓
2024
Annual accounts 20242,9 M €↓
07/05/2024
nominationForvis Mazars Bedrijfsrevisoren — commissaris
2023
Annual accounts 20233,6 M €↑
2022
Annual accounts 20222,6 M €↑
2021
Annual accounts 20211,1 M €↑
2020
Annual accounts 2020843,1 k €↓
2019
Annual accounts 20193,2 M €↓
2018
Annual accounts 20183,3 M €↑
2017
Annual accounts 2017-368,8 k €↓
2016
Annual accounts 201640,9 k €↓
2015
Annual accounts 2015631,5 k €↓
2014
Annual accounts 2014886,4 k €↑
2013
Annual accounts 2013-15,5 k €↑
2012
Annual accounts 2012-850,3 k €
25/11/2011
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

PMF Infrastructure Fund

Overview

What does PMF Infrastructure Fund do?

Trend over 14 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