ACTIVE

Belgacom International Carrier Services

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Financial year 2025 · Closed on 31/12/2025

Net result60,4 M €-15,7 %over 1 year

Revenue763,6 M €-19,9 %over 1 year

Equity204,7 M €-3,6 %over 1 year

Workforce331,1 ETP+0,8 %over 1 year

Identity

Source · BCE/KBO

Belgacom International Carrier Services is a Public limited company incorporated in 2004. Its registered office is in Schaerbeek. It employs on average 331,1 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0866.977.981
Incorporation: 30/08/2004
Legal form: Public limited company
Registered office: Boulevard du Roi AlbertII 27
1030 Schaerbeek · BruxellesSee on map
Contributed capital: 137 200 000,00 €
Latest accounts: 31/12/2025
Average workforce: 331,1 ETP

Joint committees (2)

Contacts

4 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 21 filings

Trend over 19 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	763,6 M €	-19.9%	953,1 M €	-8.9%	1 Md €	-7.1%	1,1 Md €	+13.0%	995,8 M €
EBITDA	89,7 M €	-16.6%	107,6 M €	-5.1%	113,4 M €	+3.4%	109,6 M €	+18.5%	92,5 M €
Operating result	56,5 M €	-23.4%	73,7 M €	-3.5%	76,4 M €	-1.7%	77,7 M €	+17.3%	66,3 M €
Net result	60,4 M €	-15.7%	71,6 M €	+8.6%	65,9 M €	-90.4%	685,1 M €	+1235%	51,3 M €
Balance sheet
Equity	204,7 M €	-3.6%	212,3 M €	+4.4%	203,3 M €	+33.7%	152,1 M €	-43.7%	270 M €
Total assets	662,4 M €	-4.6%	694,3 M €	+0.8%	688,6 M €	+0.8%	683,1 M €	-19.4%	847,8 M €
Cash	146,8 M €	+2944%	4,8 M €	+62.3%	3 M €	-12.0%	3,4 M €	+38.1%	2,4 M €
Debts	438,4 M €	-4.0%	456,9 M €	+1.3%	451 M €	-9.6%	498,9 M €	-7.7%	540,8 M €
Other
Workforce	331,1 ETP	+0.8%	328,5 ETP	-4.8%	344,9 ETP	-5.0%	362,9 ETP	-3.1%	374,4 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

4 active · 76 ended

Active mandates

Mark Reid

Chairman of the board of directors · since 17 avril 2025 · until 30 janvier 2026

Active

Ben Appel

Director · since 01 septembre 2023 · until 31 août 2029

Active

Jan Van Acoleyen

Director · since 28 mars 2023 · until 27 mars 2029

Active

Guillaume Boutin

Chairman of the board of directors · since 14 février 2020 · until 17 avril 2025

Active

Ended mandates

Mark Reid

Director · since 28 mai 2021 · until 29 mars 2022

Ended

Mark Reid

Director · since 28 mai 2021 · until 28 mars 2028

Ended

Ismail Jaroudi

Director · since 10 juillet 2020 · until 30 mars 2021

Ended

Heinz Herren

Director · since 31 mars 2020 · until 31 mars 2026

Ended

Other companies at this address

Boulevard du Roi AlbertII 27 1030 Schaerbeek

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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	08/04/2026	08/04/2025	08/04/2024	18/04/2023	21/04/2022	29/04/2021
General meeting	31/03/2026	25/03/2025	26/03/2024	28/03/2023	29/03/2022	30/03/2021
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	31/03/2026	08/04/2026	French	PDF
Full model	31/12/2024	25/03/2025	08/04/2025	French	PDF
Full model	31/12/2023	26/03/2024	08/04/2024	French	PDF
Full model	31/12/2022	28/03/2023	18/04/2023	French	PDF
Full model	31/12/2021	29/03/2022	21/04/2022	French	PDF
Full model	31/12/2020	30/03/2021	29/04/2021	French	PDF
Full model	31/12/2019	31/03/2020	15/04/2020	French	PDF
Full model	31/12/2018	26/03/2019	26/03/2019	French	PDF
Full model	31/12/2017	27/03/2018	22/05/2018	French	PDF
Full model	31/12/2016	28/03/2017	28/04/2017	French	PDF
Full model	31/12/2015	29/03/2016	13/04/2016	French	PDF
Full model	31/12/2014	31/03/2015	22/04/2015	French	PDF
Full model	31/12/2013	25/03/2014	19/05/2014	French	PDF
Full model	31/12/2012	26/03/2013	15/04/2013	French	PDF
Full model	31/12/2011	27/03/2012	17/04/2012	French	PDF
Full modelCorrection	31/12/2010	29/03/2011	29/11/2011	French	PDF
Full model	31/12/2010	29/03/2011	14/06/2011	French	PDF
Full model	31/12/2009	30/03/2010	03/05/2010	French	PDF
Full model	31/12/2008	31/03/2009	18/06/2009	French	PDF
Full model	31/12/2007	27/03/2008	18/04/2008	French	PDF
Full model	31/12/2006	27/03/2007	29/03/2007	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

4 active · 76 ended

Active mandates

Mark Reid

Chairman of the board of directors · since 17 avril 2025 · until 30 janvier 2026

Active

Ben Appel

Director · since 01 septembre 2023 · until 31 août 2029

Active

Jan Van Acoleyen

Director · since 28 mars 2023 · until 27 mars 2029

Active

Guillaume Boutin

Chairman of the board of directors · since 14 février 2020 · until 17 avril 2025

Active

Ended mandates

Mark Reid

Director · since 28 mai 2021 · until 29 mars 2022

Ended

Mark Reid

Director · since 28 mai 2021 · until 28 mars 2028

Ended

Ismail Jaroudi

Director · since 10 juillet 2020 · until 30 mars 2021

Ended

Heinz Herren

Director · since 31 mars 2020 · until 31 mars 2026

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates30/07/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates31/10/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates03/06/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates14/04/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates03/01/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates06/05/2024
DEMISSIONS, NOMINATIONS
PDF
Capital / shares19/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Mandates04/09/2023
DEMISSIONS, NOMINATIONS
PDF

Similar companies

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

See the Business plan

Timeline

2025
Annual accounts 202560,4 M €↓
23/07/2025
nominationJorn Vercamert — Directeur Général
17/04/2025
nominationMark Reid — President
25/03/2025
nominationFabio De Clercq — Commissaire
2024
Annual accounts 202471,6 M €↑
01/11/2024
nominationSurash Kumar PATEL — Directeur Général
23/02/2024
nominationGuillaume Boutin — Administrateur Délégué
2023
Annual accounts 202365,9 M €↓
01/09/2023
nominationBen Appel — administrateur
28/03/2023
nominationJan Van Acoleyen — administrateur
2022
Annual accounts 2022685,1 M €↑
29/03/2022
nominationDeloitte Réviseurs d'Entreprises — Commissaire
2021
Annual accounts 202151,3 M €↓
28/05/2021
nominationMark Reid — administrateur
2020
Annual accounts 202080,9 M €↑
2019
Annual accounts 201961,4 M €↓
2018
Annual accounts 201869,5 M €↑
2017
Annual accounts 201767,3 M €↓
2016
Annual accounts 201674,4 M €↑
2015
Annual accounts 201562,1 M €↓
2014
Annual accounts 201484,9 M €↑
2013
Annual accounts 201377,2 M €↓
2012
Annual accounts 201288,9 M €↑
2011
Annual accounts 201173,5 M €↑
2010
Annual accounts 201057,7 M €↓
2009
Annual accounts 200965,6 M €↑
2008
Annual accounts 200831,1 M €↑
2007
Annual accounts 200728,3 M €
30/08/2004
IncorporationPublic limited company

Belgacom International Carrier Services

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