NORMAL SITUATION

ETEXCO

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Financial year 2024 · closed on 31/12/2024

Net result

18,6 M €

+27.6% YoY

Equity

589,4 M €

+3.3% YoY

Workforce

4,8 ETP

-5.9% YoY

Company — Normal situation.

What does ETEXCO do?

ETEXCO is a company registered in Belgium. It employs on average 4,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0860.004.176

Legal form

Public limited company

Contributed capital

548 784 958,85 €

Latest accounts

31/12/2024

Average workforce

4,8 ETP

Joint committees (4)

100
10603
200
218

Signals

ProfitableSolid equityGood liquidityPositive cashflowHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2010		2009		2008		2007
Income statement
Revenue	–		–		–		–		–		–		–		–		–		–		–		–		2,7 M €	-16.7%	3,3 M €	-57.9%	7,8 M €
EBITDA	-4,4 M €	+45.4%	-8,1 M €	-128%	-3,6 M €	-8.3%	-3,3 M €	-58.1%	-2,1 M €	+21.6%	-2,6 M €	-14.2%	-2,3 M €	-10.0%	-2,1 M €	-61.2%	-1,3 M €	-0.5%	-1,3 M €	-36.0%	-956,8 k €	+16.2%	-1,1 M €	-508%	279,8 k €	-2.0%	285,4 k €	-65.9%	836,3 k €
Operating result	-2,8 M €	+65.9%	-8,2 M €	-111%	-3,9 M €	+19.1%	-4,8 M €	-114%	-2,2 M €	+20.9%	-2,8 M €	-13.2%	-2,5 M €	-9.2%	-2,3 M €	-53.6%	-1,5 M €	-0.4%	-1,5 M €	-30.1%	-1,1 M €	+13.0%	-1,3 M €	-1667%	83,8 k €	+3.7%	80,9 k €	-87.2%	631,1 k €
Net result	18,6 M €	+27.6%	14,5 M €	+503%	2,4 M €	+17.1%	2,1 M €	+201%	-2 M €	+73.3%	-7,7 M €	-758%	1,2 M €	-86.5%	8,6 M €	+293%	-4,5 M €	-160%	7,4 M €	-60.7%	18,8 M €	-3.9%	19,6 M €	-24.2%	25,8 M €	+121%	11,7 M €	-29.1%	16,5 M €
Balance sheet
Equity	589,4 M €	+3.3%	570,8 M €	+2.6%	556,3 M €	+0.4%	553,9 M €	+0.4%	551,8 M €	-0.4%	553,9 M €	-1.4%	561,5 M €	-23.1%	730,4 M €	+1.2%	721,7 M €	-0.6%	726,2 M €	+1.0%	718,8 M €	+11.8%	642,8 M €	+3.1%	623,2 M €	+4.3%	597,4 M €	+57.3%	379,8 M €
Total assets	676,7 M €	-5.0%	712,4 M €	+2.7%	694 M €	-0.1%	695 M €	+4.8%	663 M €	-13.5%	766,9 M €	-17.4%	928 M €	-45.5%	1,7 Md €	+4.5%	1,6 Md €	-10.2%	1,8 Md €	+4.7%	1,7 Md €	+72.6%	1 Md €	-0.2%	1 Md €	-9.5%	1,1 Md €	+48.2%	749,9 M €
Cash	346,9 €	+29.0%	268,9 €	+155%	105,6 €	-76.0%	440,5 €	-79.8%	2,2 k €	-34.3%	3,3 k €	-67.8%	10,3 k €	+40.8%	7,3 k €	+936%	708,1 €	-46.0%	1,3 k €	+15.6%	1,1 k €	-27.4%	1,6 k €	-48.3%	3 k €	-99.5%	659,9 k €	+131%	286,1 k €
Debts	86,3 M €	-37.8%	138,9 M €	+2.8%	135,1 M €	-2.7%	138,9 M €	+25.7%	110,5 M €	-47.8%	211,8 M €	-42.0%	365,4 M €	-62.3%	969,5 M €	+8.9%	890 M €	-16.9%	1,1 Md €	+7.9%	992,2 M €	+176%	360,1 M €	-5.5%	380,9 M €	-24.8%	506,8 M €	+39.6%	363 M €
Other
Workforce	4,8 ETP	-5.9%	5,1 ETP	-3.8%	5,3 ETP	-1.9%	5,4 ETP	+12.5%	4,8 ETP	+11.6%	4,3 ETP	+7.5%	4,0 ETP	+8.1%	3,7 ETP	+27.6%	2,9 ETP	0.0%	2,9 ETP	+20.8%	2,4 ETP	-22.6%	3,1 ETP	-76.3%	13,1 ETP	-7.7%	14,2 ETP	-53.3%	30,4 ETP

Governance

Board of directors

Seen on filing of 31/12/2024 · 3 active · 23 ended

Active mandates

Frederik Talboom

Director · since 24 mai 2023 · until 23 mai 2029

Active

Bernard Orban

Director · since 26 mai 2021 · until 26 mai 2027

Active

Melchior de Vogüé

Director · since 26 mai 2021 · until 26 mai 2027

Active

Ended mandates

Pieter Vande Kerckhove

Director · since 16 juillet 2020 · until 27 mai 2026

Ended

Bernard Orban

Director · since 23 mai 2018 · until 26 mai 2021

Ended

Melchior de Vogüé

Director · since 27 mai 2015 · until 26 mai 2021

Ended

Vincent Van Assche

Director · since 28 mai 2014 · until 22 mai 2020

Ended

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	18/06/2025	10/06/2024	06/06/2023	22/06/2022	21/06/2021	17/06/2020
General meeting	28/05/2025	22/05/2024	24/05/2023	25/05/2022	26/05/2021	27/05/2020
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

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2024	28/05/2025	18/06/2025	Dutch	PDF
Full model	31/12/2023	22/05/2024	10/06/2024	Dutch	PDF
Full model	31/12/2022	24/05/2023	06/06/2023	Dutch	PDF
Full model	31/12/2021	25/05/2022	22/06/2022	Dutch	PDF
Full model	31/12/2020	26/05/2021	21/06/2021	Dutch	PDF
Full model	31/12/2019	27/05/2020	17/06/2020	Dutch	PDF
Full model	31/12/2018	22/05/2019	17/06/2019	Dutch	PDF
Full model	31/12/2017	23/05/2018	01/06/2018	French	PDF
Full model	31/12/2016	24/05/2017	15/06/2017	French	PDF
Full model	31/12/2015	25/05/2016	14/06/2016	French	PDF
Full model	31/12/2014	27/05/2015	19/06/2015	French	PDF
Full modelCorrection	31/12/2013	28/05/2014	29/10/2014	French	PDF
Full model	31/12/2013	28/05/2014	30/06/2014	French	PDF
Full model	31/12/2012	22/05/2013	11/07/2013	French	PDF
Full model	31/12/2011	26/04/2012	18/06/2012	French	PDF
Full model	31/12/2010	28/04/2011	29/06/2011	French	PDF
Full model	31/12/2009	29/04/2010	16/06/2010	French	PDF
Full model	31/12/2008	30/04/2009	23/06/2009	French	PDF
Full model	31/12/2007	24/04/2008	26/06/2008	French	PDF
Full model	31/12/2006	26/04/2007	17/07/2007	French	PDF

Estimate

Indicative valuation

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 31/12/2024 · 3 active · 23 ended

Active mandates

Frederik Talboom

Director · since 24 mai 2023 · until 23 mai 2029

Active

Bernard Orban

Director · since 26 mai 2021 · until 26 mai 2027

Active

Melchior de Vogüé

Director · since 26 mai 2021 · until 26 mai 2027

Active

Ended mandates

Pieter Vande Kerckhove

Director · since 16 juillet 2020 · until 27 mai 2026

Ended

Bernard Orban

Director · since 23 mai 2018 · until 26 mai 2021

Ended

Melchior de Vogüé

Director · since 27 mai 2015 · until 26 mai 2021

Ended

Vincent Van Assche

Director · since 28 mai 2014 · until 22 mai 2020

Ended

Shareholders

Ownership and network

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Competition

Similar companies

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

See the Business plan

2024
Annual accounts 202418,6 M €↑
2023
Annual accounts 202314,5 M €↑
2022
Annual accounts 20222,4 M €↑
2021
Annual accounts 20212,1 M €↑
2020
Annual accounts 2020-2 M €↑
2019
Annual accounts 2019-7,7 M €↓
2018
Annual accounts 20181,2 M €↓
2017
Annual accounts 20178,6 M €↑
2016
Annual accounts 2016-4,5 M €↓
2015
Annual accounts 20157,4 M €↓
2014
Annual accounts 201418,8 M €↓
2010
Annual accounts 201019,6 M €↓
2009
Annual accounts 200925,8 M €↑
2008
Annual accounts 200811,7 M €↓
2007
Annual accounts 200716,5 M €

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

ETEXCO

Overview

What does ETEXCO do?

Trend over 15 financial years

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Similar companies

Similar companies

Timeline