ACTIVE

FENZI BELGIUM

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Financial year 2025 · Closed on 31/12/2025

Net result2,3 M €-0,3 %over 1 year

Revenue88,4 M €+7,8 %over 1 year

Equity32,3 M €+7,5 %over 1 year

Workforce100,7 ETP+3,8 %over 1 year

Identity

Source · BCE/KBO

FENZI BELGIUM is a Public limited company incorporated in 2004. Its main activity is: Manufacture of paints, varnishes and similar coatings, printing ink and mastics. Its registered office is in Vilvoorde. It employs on average 100,7 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0866.763.393
Incorporation: 13/08/2004
Legal form: Public limited company
Registered office: Levisstraat (Gustaaf) 25
1800 Vilvoorde · FlandreSee on map
Contributed capital: 8 039 280,00 €
Latest accounts: 31/12/2025
Average workforce: 100,7 ETP

Activities (NACE)

20300Manufacture of paints, varnishes and similar coatings, printing ink and mastics· main 20300Manufacture of paints, varnishes and similar coatings, printing ink and mastics 24300Manufacture of other products of first processing of steel 24300Manufacture of other products of first processing of steel

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 21 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	88,4 M €	+7.8%	82 M €	+2.3%	80,2 M €	-15.7%	95,1 M €	+20.9%	78,6 M €
EBITDA	5 M €	+6.5%	4,7 M €	+43.2%	3,3 M €	-43.0%	5,7 M €	-12.4%	6,5 M €
Operating result	3,5 M €	+10.5%	3,2 M €	+79.4%	1,8 M €	-59.1%	4,3 M €	-16.7%	5,2 M €
Net result	2,3 M €	-0.3%	2,3 M €	+120%	1 M €	-62.5%	2,7 M €	-22.0%	3,5 M €
Balance sheet
Equity	32,3 M €	+7.5%	30 M €	+8.1%	27,8 M €	-20.1%	34,8 M €	+8.6%	32 M €
Total assets	42,5 M €	+4.4%	40,7 M €	-4.3%	42,5 M €	-11.9%	48,3 M €	+11.4%	43,3 M €
Cash	3,5 M €	-3.5%	3,7 M €	+53.9%	2,4 M €	-56.0%	5,4 M €	-32.6%	8 M €
Debts	9,8 M €	-2.7%	10,1 M €	-29.4%	14,3 M €	+10.3%	12,9 M €	+19.0%	10,9 M €
Other
Workforce	100,7 ETP	+3.8%	97,0 ETP	-7.5%	104,9 ETP	+4.7%	100,2 ETP	+1.5%	98,7 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 12 ended

Active mandates

Tania Matthieu

Director · since 09 mai 2023 · until 08 mai 2029

Active

Geert Wynant

Director · since 12 mai 2020 · until 12 mai 2026

Active

Ended mandates

Tania Matthieu

Director · since 09 mai 2017 · until 09 mai 2023

Ended

Geert Wynant

Director · since 04 décembre 2014 · until 12 mai 2020

Ended

Filippo Rejna

Managing director · since 08 février 2007 · until 27 mars 2008

Ended

Filippo Rejna

Managing director · since 08 février 2007 · until 28 mars 2008

Ended

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	18/05/2026	06/06/2025	24/05/2024	26/05/2023	10/06/2022	25/05/2021
General meeting	12/05/2026	13/05/2025	14/05/2024	09/05/2023	10/05/2022	11/05/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 21 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	12/05/2026	18/05/2026	Dutch	PDF
Full model	31/12/2024	13/05/2025	06/06/2025	Dutch	PDF
Full model	31/12/2023	14/05/2024	24/05/2024	Dutch	PDF
Full model	31/12/2022	09/05/2023	26/05/2023	Dutch	PDF
Full model	31/12/2021	10/05/2022	10/06/2022	Dutch	PDF
Full model	31/12/2020	11/05/2021	25/05/2021	Dutch	PDF
Full model	31/12/2019	12/05/2020	26/05/2020	Dutch	PDF
Full model	31/12/2018	14/05/2019	21/05/2019	Dutch	PDF
Full model	31/12/2017	08/05/2018	30/05/2018	Dutch	PDF
Full modelCorrection	31/12/2016	09/05/2017	10/10/2017	Dutch	PDF
Full model	31/12/2016	09/05/2017	30/05/2017	Dutch	PDF
Full model	31/12/2015	10/05/2016	06/06/2016	Dutch	PDF
Full model	31/12/2014	12/05/2015	01/06/2015	Dutch	PDF
Full model	31/12/2013	13/05/2014	25/07/2014	Dutch	PDF
Full model	31/12/2012	14/05/2013	28/05/2013	Dutch	PDF
Full model	31/12/2011	08/05/2012	22/05/2012	Dutch	PDF
Full model	31/12/2010	10/05/2011	23/05/2011	Dutch	PDF
Full model	31/12/2009	11/05/2010	17/05/2010	Dutch	PDF
Full model	31/12/2008	12/05/2009	26/05/2009	Dutch	PDF
Full model	31/12/2007	03/06/2008	10/06/2008	Dutch	PDF
Full model	31/12/2006	08/05/2007	23/05/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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

2 active · 12 ended

Active mandates

Tania Matthieu

Director · since 09 mai 2023 · until 08 mai 2029

Active

Geert Wynant

Director · since 12 mai 2020 · until 12 mai 2026

Active

Ended mandates

Tania Matthieu

Director · since 09 mai 2017 · until 09 mai 2023

Ended

Geert Wynant

Director · since 04 décembre 2014 · until 12 mai 2020

Ended

Filippo Rejna

Managing director · since 08 février 2007 · until 27 mars 2008

Ended

Filippo Rejna

Managing director · since 08 février 2007 · until 28 mars 2008

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates12/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Other15/06/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates09/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/06/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/07/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/05/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/12/2014
ONTSLAGEN - BENOEMINGEN
PDF

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

See the Business plan

Timeline

2025
Annual accounts 20252,3 M €↓
2024
Annual accounts 20242,3 M €↑
2023
Annual accounts 20231 M €↓
2022
Annual accounts 20222,7 M €↓
2021
Annual accounts 20213,5 M €↓
2020
Annual accounts 20204,4 M €↑
2019
Annual accounts 20192,2 M €↑
2018
Annual accounts 20182 M €↓
2017
Annual accounts 20172,3 M €↓
2016
Annual accounts 20163,8 M €↓
2015
Annual accounts 20154,1 M €↑
2014
Annual accounts 20142,7 M €↑
2013
Annual accounts 20131,4 M €↓
2012
Annual accounts 20121,5 M €↓
2011
Annual accounts 20111,6 M €↓
2010
Annual accounts 20102,4 M €↑
2009
Annual accounts 20092 M €↓
2008
Annual accounts 20082 M €↑
2007
Annual accounts 20071,8 M €↑
2006
Annual accounts 2006763,7 k €
13/08/2004
IncorporationPublic limited company

FENZI BELGIUM

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

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