ACTIVE

RESA

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Financial year 2025 · Closed on 31/12/2025

Net result49,3 M €+2,2 %over 1 year

Revenue386,4 M €+0,6 %over 1 year

Equity985,6 M €+3,1 %over 1 year

Workforce930,6 ETP-0,9 %over 1 year

Identity

Source · BCE/KBO

RESA is a Public limited company incorporated in 2012. Its main activity is: Production of electricity. Its registered office is in Liège. It employs on average 930,6 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0847.027.754
Incorporation: 02/07/2012
Legal form: Public limited company
Registered office: Boulevard d'Avroy 38
4000 Liège · WallonieSee on map
Contributed capital: 657 880 492,30 €
Latest accounts: 31/12/2025
Average workforce: 930,6 ETP

Activities (NACE)

35110Production of electricity· main 35110Production of electricity 35130Distribution of electricity 35140Trade of electricity

Contacts

3 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 14 filings

Trend over 14 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	386,4 M €	+0.6%	383,9 M €	-2.3%	393 M €	+7.7%	364,9 M €	+11.2%	328,1 M €
EBITDA	151,8 M €	+6.5%	142,5 M €	+9.5%	130,1 M €	+11.6%	116,6 M €	-8.2%	127,1 M €
Operating result	85 M €	+10.5%	76,9 M €	+3.0%	74,7 M €	+13.8%	65,6 M €	-9.1%	72,2 M €
Net result	49,3 M €	+2.2%	48,3 M €	-5.6%	51,1 M €	+21.7%	42 M €	-12.3%	47,9 M €
Balance sheet
Equity	985,6 M €	+3.1%	955,6 M €	+6.9%	894,3 M €	+3.9%	860,7 M €	+2.8%	837,1 M €
Total assets	2,2 Md €	+15.0%	2 Md €	+7.3%	1,8 Md €	+6.7%	1,7 Md €	+2.3%	1,7 Md €
Cash	58,7 M €	+92.5%	30,5 M €	+28.0%	23,8 M €	-42.0%	41,1 M €	+28.4%	32 M €
Debts	1,2 Md €	+26.0%	973,5 M €	+6.6%	913,1 M €	+10.1%	829,7 M €	+2.6%	808,7 M €
Other
Workforce	930,6 ETP	-0.9%	939,2 ETP	-1.6%	954,4 ETP	+1.8%	937,6 ETP	+0.1%	936,9 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 500 M€ and 1.000 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

24 active · 24 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Jacques CHABOT	Director07/10/2025 → 04/06/2031
Caroline SAAL	Observateur25/06/2025 → 04/06/2031Director18/12/2019 → 30/06/2025
André DENIS	Director04/06/2025 → 04/06/2031
Anne THANS-DEBRUGE	Director29/05/2019 → 04/06/2031
Antoine LUKOKI KONDA	Director04/06/2025 → 04/06/2031
Antoine PELOSATO	Director04/06/2025 → 04/06/2031
Benjamin HOUET	Director04/06/2025 → 04/06/2031
Emmanuel DOUETTE	Chairman of the board of directors04/06/2025 → 04/06/2031
Eric GILLET	Director04/06/2025 → 04/06/2031
Luc GILLARD	Director04/06/2025 → 14/08/2025
Mélanie LEPONCE	Director04/06/2025 → 04/06/2031
Nicolas du FONTBARE	Director04/06/2025 → 04/06/2031
Paul ERNOUX	Director04/06/2025 → 04/06/2031Autre Fonction18/12/2024 → 30/06/2025
Philippe GROSJEAN	Vice-chairman of the board of directors04/06/2025 → 04/06/2031
Antonio GOMEZ GARCIA	Director18/12/2024 → 30/06/2025
Fabian PAVONE	Director18/12/2024 → 30/06/2025
François SCHREUER	Director18/12/2024 → 04/06/2031
Rodrigue DEMEUSE	Director18/12/2024 → 30/06/2025
Marie-Josée LOMBARDO	Chairman of the board of directors03/12/2024 → 30/06/2025Director29/05/2019 → 30/06/2025ended
Malik BEN ACHOUR	Director31/03/2021 → 30/06/2025
Michel GRIGNARD	Director28/06/2018 → 30/06/2025
Thomas BOLS	Director07/10/2020 → 30/06/2025
Guy COEME	Director28/06/2018 → 30/06/2025
Pol GUILLAUME	Vice-chairman of the board of directors11/04/2017 → 30/06/2025Director29/06/2012 → 29/06/2018ended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Mehdi BOUZALGJHA	Director29/06/2022 → 30/06/2025
Léon CAMPSTEIN	Director18/12/2019 → 30/06/2025

Other companies at this address

Boulevard d'Avroy 38 4000 Liège

Company	CBE no.
RESA Holding● Active	1001.753.642
RESA Innovation et Technologie● Active	0724.552.089
TRANSENERGIE● Active	1003.748.377

Full financial information

Source · NBB

	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	18/06/2026	25/06/2025	14/06/2024	12/06/2023	11/08/2022	12/07/2021
General meeting	02/06/2026	04/06/2025	05/06/2024	07/06/2023	25/05/2022	02/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 14 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	02/06/2026	18/06/2026	French	PDF
Full model	31/12/2024	04/06/2025	25/06/2025	French	PDF
Full model	31/12/2023	05/06/2024	14/06/2024	French	PDF
Full model	31/12/2022	07/06/2023	12/06/2023	French	PDF
Full model	31/12/2021	25/05/2022	11/08/2022	French	PDF
Full model	31/12/2020	02/06/2021	12/07/2021	French	PDF
Full model	31/12/2019	17/06/2020	08/07/2020	French	PDF
Full model	31/12/2018	25/04/2019	23/05/2019	French	PDF
Full model	31/12/2017	26/04/2018	11/05/2018	French	PDF
Full model	31/12/2016	27/04/2017	12/06/2017	French	PDF
Full model	31/12/2015	28/04/2016	02/05/2016	French	PDF
Full model	31/12/2014	30/04/2015	03/06/2015	French	PDF
Full model	31/12/2013	24/04/2014	03/06/2014	French	PDF
Full model	31/12/2012	25/04/2013	15/05/2013	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 M€ and 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.

Board of directors

Source · NBB, accounts to 31/12/2025

24 active · 24 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Jacques CHABOT	Director07/10/2025 → 04/06/2031
Caroline SAAL	Observateur25/06/2025 → 04/06/2031Director18/12/2019 → 30/06/2025
André DENIS	Director04/06/2025 → 04/06/2031
Anne THANS-DEBRUGE	Director29/05/2019 → 04/06/2031
Antoine LUKOKI KONDA	Director04/06/2025 → 04/06/2031
Antoine PELOSATO	Director04/06/2025 → 04/06/2031
Benjamin HOUET	Director04/06/2025 → 04/06/2031
Emmanuel DOUETTE	Chairman of the board of directors04/06/2025 → 04/06/2031
Eric GILLET	Director04/06/2025 → 04/06/2031
Luc GILLARD	Director04/06/2025 → 14/08/2025
Mélanie LEPONCE	Director04/06/2025 → 04/06/2031
Nicolas du FONTBARE	Director04/06/2025 → 04/06/2031
Paul ERNOUX	Director04/06/2025 → 04/06/2031Autre Fonction18/12/2024 → 30/06/2025
Philippe GROSJEAN	Vice-chairman of the board of directors04/06/2025 → 04/06/2031
Antonio GOMEZ GARCIA	Director18/12/2024 → 30/06/2025
Fabian PAVONE	Director18/12/2024 → 30/06/2025
François SCHREUER	Director18/12/2024 → 04/06/2031
Rodrigue DEMEUSE	Director18/12/2024 → 30/06/2025
Marie-Josée LOMBARDO	Chairman of the board of directors03/12/2024 → 30/06/2025Director29/05/2019 → 30/06/2025ended
Malik BEN ACHOUR	Director31/03/2021 → 30/06/2025
Michel GRIGNARD	Director28/06/2018 → 30/06/2025
Thomas BOLS	Director07/10/2020 → 30/06/2025
Guy COEME	Director28/06/2018 → 30/06/2025
Pol GUILLAUME	Vice-chairman of the board of directors11/04/2017 → 30/06/2025Director29/06/2012 → 29/06/2018ended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Mehdi BOUZALGJHA	Director29/06/2022 → 30/06/2025
Léon CAMPSTEIN	Director18/12/2019 → 30/06/2025

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Other17/07/2026
délégation de pouvoirs
PDF
Registered office28/05/2026
SIEGE SOCIAL
PDF
Mandates23/03/2026
DEMISSIONS, NOMINATIONS - DIVERS
PDF
Mandates13/02/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates20/11/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates15/10/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates09/09/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates29/07/2025
DEMISSIONS, NOMINATIONS
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings14 filings

Mandates

Jacques CHABOT

Caroline SAAL

Eric GILLET

Philippe GROSJEAN

Benjamin HOUET

Antoine PELOSATO

Mélanie LEPONCE

Luc GILLARD

Anne THANS-DEBRUGE

Emmanuel DOUETTE

Paul ERNOUX

Nicolas du FONTBARE

and 36 more mandates

20122013201420152016201720182019202020212022202320242025202620272028202920302031

RESA SA IntercommunaleRESARESA Services

Sainte Marie 11, 4000 Liège

Director

ObservateurDirector

Director

Vice-chairman of the board of directors

Director

Chairman of the board of directors

DirectorAutre Fonction

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Boulevard d'Avroy 38, 4000 LiègeCurrent		CBE
Sainte Marie 11, 4000 Liège	accounts 2021 → 2025	Accounts 2025 · 2026-00172190

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
RESACurrent		CBE
RESA SA Intercommunale	accounts 2024 → 2025	Accounts 2025 · 2026-00172190
RESA	accounts 2014 → 2023	Accounts 2023 · 2024-00141347
RESA Services	accounts 2012 → 2013	Accounts 2013 · 2014-15000063

Events

27/01/2026
nominationGil SIMON · Directeur général
2025
Annual accounts 202549,3 M €↑
17/12/2025
nominationJacques CHABOT · Administrateur représentant la province actionnaire
17/12/2025
nominationJonathan DAWANCE · Observateur syndical
07/10/2025
nominationJacques CHABOT · administrateur
04/06/2025
nominationEmmanuel DOUETTE · administrateur
04/06/2025
nominationBenjamin HOUET · administrateur
04/06/2025
nominationPhillipe GROSJEAN · administrateur
04/06/2025
nominationAntoine PELOSATO · administrateur
04/06/2025
nominationEric GILLET · administrateur
04/06/2025
nominationLuc GILLARD · administrateur
04/06/2025
nominationAndré DENIS · administrateur
04/06/2025
nominationMélanie LEPONCE · administrateur
04/06/2025
nominationAntoine LUKOKI · administrateur
04/06/2025
nominationNicolas du FONTBARÉ · administrateur
04/06/2025
nominationEmmanuel DOUETTE · Président du Conseil d'Administration
04/06/2025
nominationPhilippe GROSJEAN · Vice-Président du Conseil d'Administration
04/06/2025
nominationGil SIMON · Directeur général
2024
Annual accounts 202448,3 M €↓
2024
Name changeRESA SA Intercommunale
18/12/2024
reconductionRodrigue DEMEUSE · administrateur
18/12/2024
reconductionFabian PAVONE · administrateur
18/12/2024
reconductionFrançois SCHREUER · administrateur
18/12/2024
reconductionAntonio GOMEZ-GARCIA · administrateur
18/12/2024
nominationM. Fabian PAVONE · administrateur
18/12/2024
nominationM. François SCHREUER · administrateur
18/12/2024
nominationM. Antonio GOMEZ GARCIA · administrateur
18/12/2024
nominationM. Rodrigue DEMEUSE · administrateur
18/12/2024
nominationM. Paul ERNOUX · Observateur
03/12/2024
nominationMme LOMBARDO · Présidente du Conseil d'administration
05/06/2024
nominationPwC réviseurs d'entreprise SRL · Réviseur d'entreprises
2023
Annual accounts 202351,1 M €↑
28/06/2023
nominationOlivier Spirlet · Directeur financier, Membre du Comité de Direction
28/06/2023
nominationLuc Meyers · représenter la société auprès des administrations fiscales
2022
Annual accounts 202242 M €↓
21/12/2022
nominationMehdi BOUZALGHA · Administrateur représentant les Communes actionnaires
29/06/2022
nominationMehdi BOUZALGHA · administrateur
2021
Annual accounts 202147,9 M €↓
2020
Annual accounts 202049,8 M €↓
27/05/2020
nominationGil SIMON · Directeur général
2019
Annual accounts 201951,5 M €↓
2018
Annual accounts 201858 M €↑
2017
Annual accounts 201750,9 M €↑
2016
Annual accounts 201644,3 M €↓
2015
Annual accounts 201550,9 M €↑
2014
Annual accounts 201420,1 M €
2014
Name changeRESA
2013
Annual accounts 2013
2012
Annual accounts 2012
02/07/2012
IncorporationPublic limited company

RESA

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events