ACTIVE

ARCEO

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Financial year 2025 · closed on 31/12/2025

Net result

4,8 M €

-38.4% YoY

Revenue

0 €

Equity

139,1 M €

-35.0% YoY

What does ARCEO do?

ARCEO is a Public limited company incorporated in 2004. Its main activity is: Manufacture of basic iron and steel and of ferro-alloys. Its registered office is in Liège.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0865.732.522

Incorporation

10/06/2004

Legal form

Public limited company

Registered office

Avenue Maurice-Destenay 13
4000 Liège · WallonieSee on map

Contributed capital

136 408 746,61 €

Latest accounts

31/12/2025

Activities (NACE)

24100Manufacture of basic iron and steel and of ferro-alloys· main 24100Manufacture of basic iron and steel and of ferro-alloys 27100Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	0 €		0 €		–		–		–		–		–		–		–		52,2 k €	-99.4%	8,3 M €	-56.1%	19 M €	+13.4%	16,7 M €	-0.8%	16,9 M €	-13.1%	19,4 M €	+72.6%	11,2 M €	-28.9%	15,8 M €	+25.5%	12,6 M €	+387%	2,6 M €
EBITDA	-231,4 k €	+80.6%	-1,2 M €	-405%	-235,8 k €	-6.5%	-221,3 k €	-4.3%	-212,2 k €	-2.1%	-207,8 k €	-3.5%	-200,7 k €	+77.2%	-879,1 k €	-215%	766,3 k €	+206%	250,1 k €	+143%	-580,8 k €	+75.7%	-2,4 M €	+0.4%	-2,4 M €	-27654%	-8,6 k €	-101%	1,2 M €	+273%	-698,1 k €	-178%	-251,1 k €	+81.4%	-1,4 M €	+45.4%	-2,5 M €
Operating result	-231,4 k €	+14.8%	-271,6 k €	-15.2%	-235,8 k €	-6.5%	-221,3 k €	-4.3%	-212,2 k €	-2.1%	-207,8 k €	-3.5%	-200,7 k €	+77.2%	-879,1 k €	-273%	507,8 k €	+103%	250,1 k €	+126%	-951,9 k €	+88.4%	-8,2 M €	-43.6%	-5,7 M €	-95.4%	-2,9 M €	-74.0%	-1,7 M €	+35.6%	-2,6 M €	+29.4%	-3,7 M €	+3.0%	-3,8 M €	-9.6%	-3,5 M €
Net result	4,8 M €	-38.4%	7,8 M €	+47.2%	5,3 M €	+97.6%	2,7 M €	-39.3%	4,4 M €	-14.3%	5,2 M €	-13.6%	6 M €	-7.1%	6,4 M €	-21.5%	8,2 M €	+384%	1,7 M €	+196%	-1,8 M €	+87.8%	-14,5 M €	-150%	-5,8 M €	-89.7%	-3 M €	-73.3%	-1,8 M €	+37.6%	-2,8 M €	+28.5%	-3,9 M €	+1.1%	-4 M €	-15.9%	-3,4 M €
Balance sheet
Equity	139,1 M €	-35.0%	214,1 M €	+0.2%	213,7 M €	+0.1%	213,4 M €	+0.1%	213,1 M €	+0.1%	212,9 M €	-2.6%	218,6 M €	-0.8%	220,4 M €	+1.4%	217,4 M €	+55.8%	139,5 M €	+684%	17,8 M €	+535%	2,8 M €	-83.8%	17,3 M €	-25.1%	23 M €	-11.7%	26,1 M €	+62.6%	16 M €	-14.9%	18,8 M €	-17.3%	22,8 M €	+15.3%	19,8 M €
Total assets	144,1 M €	-35.1%	221,9 M €	+1.3%	219,1 M €	+1.2%	216,5 M €	-0.7%	217,9 M €	-0.5%	219 M €	-1.1%	221,4 M €	-1.2%	224 M €	-1.7%	227,8 M €	+51.9%	150 M €	+574%	22,2 M €	+64.7%	13,5 M €	-63.3%	36,8 M €	-1.3%	37,3 M €	-2.2%	38,2 M €	+5.3%	36,3 M €	+21.5%	29,8 M €	-0.3%	29,9 M €	+14.7%	26,1 M €
Cash	93,7 M €	-7.8%	101,7 M €	+10.2%	92,3 M €	-13.2%	106,3 M €	+75.8%	60,5 M €	+66.4%	36,3 M €	+53.8%	23,6 M €	+52.2%	15,5 M €	+110%	7,4 M €	+146%	3 M €	-76.1%	12,6 M €	+80.9%	6,9 M €	-5.1%	7,3 M €	+0.2%	7,3 M €	+0.0%	7,3 M €		0 €		–		0 €		0 €
Debts	5 M €	-36.4%	7,8 M €	+44.2%	5,4 M €	+76.5%	3,1 M €	-36.1%	4,8 M €	-21.4%	6,1 M €	+125%	2,7 M €	-23.4%	3,5 M €	-66.1%	10,4 M €	-0.3%	10,5 M €	+135%	4,5 M €	-58.3%	10,7 M €	-45.3%	19,6 M €	+37.1%	14,3 M €	+20.4%	11,9 M €	-41.0%	20,1 M €	+82.8%	11 M €	+53.8%	7,1 M €	+12.7%	6,3 M €
Other
Workforce	–		–		–		–		–		0,0 ETP		–		1,3 ETP	-79.7%	6,4 ETP	-1.5%	6,5 ETP	-65.1%	18,6 ETP	-48.5%	36,1 ETP	-4.5%	37,8 ETP	+5.9%	35,7 ETP	+16.3%	30,7 ETP	+8.9%	28,2 ETP	+2.2%	27,6 ETP	-7.7%	29,9 ETP	+36.5%	21,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 76 ended

Active mandates

SPARAXIS

Director · since 29 mai 2024 · until 29 mai 2030 · 0452.116.307

Represented by Renaud Schetter

Active

ARCELORMITTAL HOLDING AND SERVICES BELGIUM

Director · since 27 mai 2020 · until 29 mai 2030 · 0429.496.204

Represented by Eric GAILLY

Active

ARCELORMITTAL BELGIUM

Director · since 04 décembre 2017 · until 29 mai 2030 · 0400.106.291

Represented by Frederik Van de Velde

Active

SOCIETE WALLONNE DE GESTION ET DE PARTICIPATIONS

Director · since 11 juin 2015 · until 29 mai 2030 · 0426.887.397

Represented by Sébastien DURIEUX

Active

Ended mandates

SPARAXIS

Director · since 29 mai 2024 · until 28 mai 2025 · 0452.116.307

Represented by Renaud Schetter

Ended

ARCELORMITTAL HOLDING AND SERVICES BELGIUM

Director · since 31 mai 2023 · until 28 mai 2025 · 0429.496.204

Represented by Eric GAILLY

Ended

Renaud SCHETTER

Director · since 11 novembre 2022 · until 28 mai 2025

Ended

ARCELORMITTAL HOLDING AND SERVICES BELGIUM

Director · since 27 mai 2020 · until 28 mai 2025 · 0429.496.204

Represented by Eric GAILLY

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	18/06/2026	12/06/2025	03/07/2024	13/06/2023	24/06/2022	22/06/2021
General meeting	27/05/2026	28/05/2025	29/05/2024	31/05/2023	25/05/2022	26/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	27/05/2026	18/06/2026	French	PDF
Full model	31/12/2024	28/05/2025	12/06/2025	French	PDF
Full model	31/12/2023	29/05/2024	03/07/2024	French	PDF
Full model	31/12/2022	31/05/2023	13/06/2023	French	PDF
Full model	31/12/2021	25/05/2022	24/06/2022	French	PDF
Full model	31/12/2020	26/05/2021	22/06/2021	French	PDF
Full model	31/12/2019	27/05/2020	16/07/2020	French	PDF
Full model	31/12/2018	28/06/2019	07/08/2019	French	PDF
Full model	31/12/2017	30/05/2018	25/06/2018	French	PDF
Full model	31/12/2016	31/05/2017	13/06/2017	French	PDF
Full model	31/12/2015	25/05/2016	06/06/2016	French	PDF
Full model	31/12/2014	27/05/2015	14/07/2015	French	PDF
Full model	31/12/2013	28/05/2014	10/09/2014	French	PDF
Full model	31/12/2012	28/06/2013	12/08/2013	French	PDF
Full model	31/12/2011	30/05/2012	19/06/2012	French	PDF
Full model	31/12/2010	25/05/2011	18/07/2011	French	PDF
Full model	31/12/2009	30/06/2010	06/07/2010	French	PDF
Full model	31/12/2008	27/05/2009	15/06/2009	French	PDF
Full model	31/12/2007	28/05/2008	02/07/2008	French	PDF
Full model	31/12/2006	12/06/2007	05/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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 · 4 active · 76 ended

Active mandates

SPARAXIS

Director · since 29 mai 2024 · until 29 mai 2030 · 0452.116.307

Represented by Renaud Schetter

Active

ARCELORMITTAL HOLDING AND SERVICES BELGIUM

Director · since 27 mai 2020 · until 29 mai 2030 · 0429.496.204

Represented by Eric GAILLY

Active

ARCELORMITTAL BELGIUM

Director · since 04 décembre 2017 · until 29 mai 2030 · 0400.106.291

Represented by Frederik Van de Velde

Active

SOCIETE WALLONNE DE GESTION ET DE PARTICIPATIONS

Director · since 11 juin 2015 · until 29 mai 2030 · 0426.887.397

Represented by Sébastien DURIEUX

Active

Ended mandates

SPARAXIS

Director · since 29 mai 2024 · until 28 mai 2025 · 0452.116.307

Represented by Renaud Schetter

Ended

ARCELORMITTAL HOLDING AND SERVICES BELGIUM

Director · since 31 mai 2023 · until 28 mai 2025 · 0429.496.204

Represented by Eric GAILLY

Ended

Renaud SCHETTER

Director · since 11 novembre 2022 · until 28 mai 2025

Ended

ARCELORMITTAL HOLDING AND SERVICES BELGIUM

Director · since 27 mai 2020 · until 28 mai 2025 · 0429.496.204

Represented by Eric GAILLY

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates02/03/2026
DEMISSIONS, NOMINATIONS
PDF
Capital / shares08/08/2025
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates26/03/2025
DEMISSIONS, NOMINATIONS
PDF
Other14/01/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS
PDF
Mandates13/09/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates11/07/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates09/05/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates28/12/2022
DEMISSIONS, NOMINATIONS
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 20254,8 M €↓
30/06/2025
reduction_capital
28/05/2025
reconductionArcelorMittal Belgium — administrateur
28/05/2025
reconductionArcelorMittal Holding and Services Belgium — administrateur
28/05/2025
reconductionSparaxis — administrateur
28/05/2025
reconductionWallonie Entreprendre — administrateur
28/05/2025
reconductionErnst & Young Réviseurs d'Entreprise SRL — Commissaire aux Comptes
01/01/2025
nominationFrederik VAN DE VELDE — représentant permanent d'un administrateur
2024
Annual accounts 20247,8 M €↑
2023
Annual accounts 20235,3 M €↑
31/05/2023
reconductionArcelorMittal Belgium SA — administrateur
31/05/2023
reconductionArcelorMittal Holding and Services Belgium — administrateur
31/05/2023
reconductionRenaud Schetter — administrateur
31/05/2023
reconductionEric Gailly — administrateur
2022
Annual accounts 20222,7 M €↓
11/11/2022
nominationRenaud Schetter — administrateur
25/05/2022
nominationEmst & Young Réviseurs d'Entreprises SRL — commissaire
01/04/2022
nominationSébastien Durieux — représentant permanent
2020
Annual accounts 20204,4 M €↓
2019
Annual accounts 20195,2 M €↓
2018
Annual accounts 20186 M €↓
2017
Annual accounts 20176,4 M €↓
2016
Annual accounts 20168,2 M €↑
2015
Annual accounts 20151,7 M €↑
2014
Annual accounts 2014-1,8 M €↑
2013
Annual accounts 2013-14,5 M €↓
2012
Annual accounts 2012-5,8 M €↓
2011
Annual accounts 2011-3 M €↓
2010
Annual accounts 2010-1,8 M €↑
2009
Annual accounts 2009-2,8 M €↑
2008
Annual accounts 2008-3,9 M €↑
2007
Annual accounts 2007-4 M €↓
2006
Annual accounts 2006-3,4 M €
10/06/2004
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

ARCEO

Overview

What does ARCEO do?

Trend over 19 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