ACTIVE

Baltisse Real Estate

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Financial year 2025 · closed on 31/12/2025

Net result

-8,4 M €

-117.0% YoY

Revenue

652,2 k €

-10.3% YoY

Equity

271,8 M €

-3.0% YoY

What does Baltisse Real Estate do?

Baltisse Real Estate is a Public limited company incorporated in 2004. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Gent.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0866.682.528

Incorporation

06/08/2004

Legal form

Public limited company

Registered office

Pauline Van Pottelsberghelaan 10
9051 Gent · FlandreSee on map

Contributed capital

269 266 373,89 €

Latest accounts

31/12/2025

Activities (NACE)

68203Rental and operating of own or leased real estate· main 68203Rental and operating of own or leased real estate

Joint committees (1)

Signals

Solid equityLow riskGood liquidity

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	652,2 k €	-10.3%	727,4 k €	+17.9%	617,2 k €	-27.7%	853,6 k €	-27.6%	1,2 M €	+68.7%	698,6 k €	-92.8%	9,7 M €	+71.4%	5,6 M €		–		–		–		–		–		20 k €		–		–		–		–		–		–
EBITDA	-5,6 M €	+16.6%	-6,8 M €	+8.9%	-7,4 M €	-120%	-3,4 M €	-52.0%	-2,2 M €	+45.9%	-4,1 M €	-1665%	262,6 k €	+149%	-540,6 k €	+30.6%	-779,3 k €	-2759%	-27,3 k €	+97.8%	-1,3 M €	-447%	363,5 k €	+28.3%	283,4 k €	-21.1%	359,3 k €	-10.0%	399,3 k €	+367%	85,5 k €	+14063%	-612,6 €	+99.7%	-210,5 k €	-318%	96,5 k €	+20.4%	80,2 k €
Operating result	-6,2 M €	+14.1%	-7,2 M €	+8.3%	-7,9 M €	-106%	-3,8 M €	-45.8%	-2,6 M €	+40.4%	-4,4 M €	-6562%	68 k €	+105%	-1,4 M €	+11.2%	-1,6 M €	-123%	-717,5 k €	+46.8%	-1,3 M €	-1369%	106,3 k €	+205%	34,9 k €	-69.0%	112,7 k €	-56.7%	260,3 k €	+960%	24,6 k €	+137%	-66,3 k €	+96.4%	-1,8 M €	-4538%	40,9 k €	+66.4%	24,6 k €
Net result	-8,4 M €	-117%	49,2 M €	-30.0%	70,3 M €	+733%	8,4 M €	-26.1%	11,4 M €	+87.0%	6,1 M €	-73.6%	23,1 M €	-18.4%	28,3 M €	+2414%	-1,2 M €	-50.4%	-812,3 k €	-111%	7,6 M €	+3623%	-216,2 k €	+22.1%	-277,4 k €	-122%	-125,2 k €	-1646%	-7,2 k €	+41.4%	-12,2 k €	+98.8%	-1 M €	+48.2%	-2 M €	-5316%	37,6 k €	+336%	8,6 k €
Balance sheet
Equity	271,8 M €	-3.0%	280,2 M €	+0.8%	278 M €	-6.0%	295,7 M €	+2.9%	287,3 M €	-13.2%	330,9 M €	+213%	105,6 M €	+28.0%	82,5 M €	+86.6%	44,2 M €	+187%	15,4 M €	-5.0%	16,2 M €	+88.3%	8,6 M €	-2.4%	8,8 M €	+115%	4,1 M €	-2.9%	4,2 M €	-0.2%	4,3 M €	-0.3%	4,3 M €	-19.2%	5,3 M €	-27.1%	7,2 M €	+229%	2,2 M €
Total assets	329,6 M €	-5.8%	349,9 M €	-17.6%	424,7 M €	+9.8%	386,8 M €	-4.4%	404,5 M €	+1.2%	399,8 M €	+2.3%	390,8 M €	+6.7%	366,2 M €	+26.1%	290,5 M €	+146%	117,9 M €	+113%	55,4 M €	-1.3%	56,1 M €	+2.8%	54,6 M €	+74.3%	31,3 M €	+130%	13,6 M €	+32.0%	10,3 M €	+93.7%	5,3 M €	-82.2%	29,9 M €	+16.1%	25,7 M €	+58.9%	16,2 M €
Cash	22,2 M €	+153%	8,8 M €	+543%	1,4 M €	-77.9%	6,2 M €	-56.7%	14,3 M €	+305%	3,5 M €	+29.6%	2,7 M €	-64.1%	7,6 M €	-11.9%	8,6 M €	+206%	2,8 M €	-67.7%	8,7 M €	+1362%	594,7 k €	-95.9%	14,6 M €	+8155%	176,3 k €	+60.0%	110,2 k €	+28.9%	85,5 k €	+230%	25,9 k €	-6.5%	27,7 k €	+355%	6,1 k €	-26.2%	8,2 k €
Debts	56,6 M €	-18.3%	69,3 M €	-52.4%	145,4 M €	+62.4%	89,5 M €	-23.4%	116,8 M €	+69.6%	68,9 M €	-75.8%	285,2 M €	+0.6%	283,6 M €	+15.3%	246,1 M €	+142%	101,9 M €	+164%	38,6 M €	-17.3%	46,7 M €	+5.8%	44,1 M €	+65.5%	26,7 M €	+196%	9 M €	+49.8%	6 M €	+467%	1,1 M €	-95.4%	23,1 M €	+29.6%	17,8 M €	+29.8%	13,7 M €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		0,3 ETP	-62.5%	0,8 ETP		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 250 M€ and 500 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 31 ended

Active mandates

Catherine MATTON

Director · since 30 juin 2022 · until 10 juin 2028

Active

Filiep BALCAEN

Managing director · since 30 juin 2022 · until 10 juin 2028

Active

Louis BALCAEN

Director · since 30 juin 2022 · until 10 juin 2028

Active

Marc JANSSENS

Director · since 30 juin 2022 · until 10 juin 2028

Active

Patrick VERBRUGGE

Director · since 30 juin 2022 · until 10 juin 2028

Active

Simon BALCAEN

Director · since 30 juin 2022 · until 10 juin 2028

Active

Ended mandates

Marc JANSSENS

Director · since 23 décembre 2020 · until 11 juin 2022

Ended

Marc JANSSENS

Director · since 23 décembre 2020 · until 30 juin 2022

Ended

Simon BALCAEN

Director · since 13 juin 2020 · until 11 juin 2022

Ended

Simon BALCAEN

Director · since 13 juin 2020 · until 30 juin 2022

Ended

At this address

Other companies at this address

Company	CBE no.
226 INVEST● Active	1039.768.041
ARCHIMEDES OFFICES● Active	0778.865.854
ARDENO● Active	0766.286.934
ARGIBEL● Active	0419.150.757
AtlantaCo● Active	0635.989.606
Avenue Building● Active	0838.744.449
AXS Liège● Active	0805.568.667
Balmaris Holdco● Active	1036.438.070
BALTAIR● Active	0723.772.626
BALTISSE● Active	0885.922.180
Baltisse Abacus● Active	1015.606.826
Baltisse Management Incentive● Active	1034.175.594
Baltisse Real Estate Investments● Active	0788.252.979
BBSD25● Active	1032.209.266
BLUE LINE STORAGE● Active	0734.703.437
BUILDING● Active	0435.543.856
Clara Construct● Active	1031.918.662
De Veste● Active	0792.431.602
De Veste Monument● Active	1010.243.914
Floorenter● Active	0640.884.938

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	04/08/2026	27/06/2025	23/07/2024	31/08/2023	29/07/2022	27/08/2021
General meeting	06/07/2026	23/06/2025	18/07/2024	31/08/2023	30/06/2022	12/06/2021
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

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	06/07/2026	04/08/2026	Dutch	PDF
Full model	31/12/2024	23/06/2025	27/06/2025	Dutch	PDF
Full model	31/12/2023	18/07/2024	23/07/2024	Dutch	PDF
Full model	31/12/2022	31/08/2023	31/08/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	29/07/2022	Dutch	PDF
Full model	31/12/2020	12/06/2021	27/08/2021	Dutch	PDF
Full model	31/12/2019	13/06/2020	17/07/2020	Dutch	PDF
Full model	31/12/2018	30/06/2019	29/08/2019	Dutch	PDF
Abridged model	31/12/2017	09/06/2018	10/07/2018	Dutch	PDF
Abridged model	31/12/2016	10/06/2017	26/06/2017	Dutch	PDF
Abridged model	31/12/2015	11/06/2016	30/06/2016	Dutch	PDF
Abridged model	31/12/2014	13/06/2015	24/08/2015	Dutch	PDF
Abridged model	31/12/2013	14/06/2014	22/07/2014	Dutch	PDF
Abridged model	31/12/2012	08/06/2013	29/07/2013	Dutch	PDF
Abridged model	31/12/2011	09/06/2012	20/07/2012	Dutch	PDF
Abridged model	31/12/2010	11/06/2011	18/07/2011	Dutch	PDF
Abridged model	31/12/2009	12/06/2010	14/07/2010	Dutch	PDF
Abridged model	31/12/2008	13/06/2009	15/07/2009	Dutch	PDF
Abridged model	31/12/2007	14/06/2008	24/07/2008	Dutch	PDF
Abridged model	31/12/2006	09/06/2007	19/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 M€ and 500 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 · 6 active · 31 ended

Active mandates

Catherine MATTON

Director · since 30 juin 2022 · until 10 juin 2028

Active

Filiep BALCAEN

Managing director · since 30 juin 2022 · until 10 juin 2028

Active

Louis BALCAEN

Director · since 30 juin 2022 · until 10 juin 2028

Active

Marc JANSSENS

Director · since 30 juin 2022 · until 10 juin 2028

Active

Patrick VERBRUGGE

Director · since 30 juin 2022 · until 10 juin 2028

Active

Simon BALCAEN

Director · since 30 juin 2022 · until 10 juin 2028

Active

Ended mandates

Marc JANSSENS

Director · since 23 décembre 2020 · until 11 juin 2022

Ended

Marc JANSSENS

Director · since 23 décembre 2020 · until 30 juin 2022

Ended

Simon BALCAEN

Director · since 13 juin 2020 · until 11 juin 2022

Ended

Simon BALCAEN

Director · since 13 juin 2020 · until 30 juin 2022

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/09/2026
Herbenoeming commissaris; ontslag en benoeming bestuurders; ontslag
PDF
Other01/07/2025
DOEL
PDF
Other14/12/2023
DIVERSEN
PDF
Other31/05/2023
BENAMING
PDF
Mandates06/03/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/02/2021
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares23/07/2020
KAPITAAL - AANDELEN
PDF
Mandates13/07/2020
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 2025-8,4 M €↓
2024
Annual accounts 202449,2 M €↓
2023
Annual accounts 202370,3 M €↑
2022
Annual accounts 20228,4 M €↓
30/06/2022
reconductionMatton Catherine — bestuurder
30/06/2022
reconductionBalcaen Filiep — bestuurder
30/06/2022
reconductionJanssens Marc — bestuurder
30/06/2022
reconductionBalcaen Simon — bestuurder
30/06/2022
reconductionBalcaen Louis — bestuurder
30/06/2022
reconductionPatrick Verbrugge — bestuurder
2022
Name changeBaltisse Real Estate NV
2021
Annual accounts 202111,4 M €↑
2020
Annual accounts 20206,1 M €↓
2019
Annual accounts 201923,1 M €↓
2018
Annual accounts 201828,3 M €↑
2017
Annual accounts 2017-1,2 M €↓
2016
Annual accounts 2016-812,3 k €↓
2015
Annual accounts 20157,6 M €↑
2014
Annual accounts 2014-216,2 k €↑
2013
Annual accounts 2013-277,4 k €↓
2012
Annual accounts 2012-125,2 k €↓
2011
Annual accounts 2011-7,2 k €↑
2010
Annual accounts 2010-12,2 k €↑
2009
Annual accounts 2009-1 M €↑
2008
Annual accounts 2008-2 M €↓
2007
Annual accounts 200737,6 k €↑
2006
Annual accounts 20068,6 k €
2006
Name changeBALTISSIMMO
06/08/2004
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

Baltisse Real Estate

Overview

What does Baltisse Real Estate do?

Trend over 20 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