NORMAL SITUATION

SFPIM Real Estate

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Financial year 2025 · closed on 31/12/2025

Net result

4,6 M €

+2432.9% YoY

Revenue

0,0 €

-100.0% YoY

Equity

214,4 M €

+2.2% YoY

Workforce

1,0 ETP

0.0% YoY

Company — Normal situation.

Strike-off: 14 juillet 2026

What does SFPIM Real Estate do?

SFPIM Real Estate is a Public limited company incorporated in 2004. It employs on average 1,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0867.095.371

Incorporation

24/06/2004

Legal form

Public limited company

Contributed capital

200 980 175,69 €

Latest accounts

31/12/2025

Average workforce

1,0 ETP

Joint committees (2)

Signals

ProfitableSolid equityGood liquidityPositive cashflowHealthy social debts

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		2007		2006		2005
Income statement
Revenue	0,0 €	-100%	193,4 €	-100.0%	819,5 k €	+30.2%	629,5 k €		–		–		–		–		–		850,0 k €	+1373%	57,7 k €	-98.2%	3,2 M €	-13.5%	3,8 M €	+68.8%	2,2 M €	-80.9%	11,7 M €	-72.5%	42,4 M €	+636%	5,8 M €	-98.1%	300,2 M €	-4.3%	313,7 M €	-21.4%	399,0 M €
EBITDA	-425,9 k €	-86.4%	-228,5 k €	-1639%	-13,1 k €	-107%	191,2 k €	+112%	-1,6 M €	-450%	-282,7 k €	-28.4%	-220,1 k €	-37.9%	-159,6 k €	-102%	8,4 M €	+55506%	-15,2 k €	+95.6%	-341,9 k €	-107%	-165,0 k €	-260%	103,1 k €	-89.2%	953,8 k €	+129%	-3,3 M €	-290%	1,7 M €	-3.9%	1,8 M €	-99.6%	447,0 M €	-0.5%	449,3 M €	-80.7%	2,3 Md €
Operating result	-512,5 k €	-3.2%	-496,8 k €	-76.8%	-280,9 k €	-61.4%	-174,1 k €	+89.9%	-1,7 M €	-308%	-422,0 k €	-27.5%	-331,0 k €	-107%	-159,9 k €	-102%	8,3 M €	+53648%	-15,4 k €	+95.5%	-342,8 k €	-86.3%	-184,0 k €	-282%	100,9 k €	-93.7%	1,6 M €	+1903%	79,5 k €	+110%	-798,3 k €	-156%	1,4 M €	-99.2%	179,4 M €	-11.9%	203,6 M €	-90.2%	2,1 Md €
Net result	4,6 M €	+2433%	179,7 k €	-84.3%	1,1 M €	+117%	-6,8 M €	-237%	-2,0 M €	-799%	289,3 k €	-56.1%	658,8 k €	+30.5%	504,8 k €	-94.3%	8,9 M €	+14126%	62,6 k €	+73.9%	36,0 k €	-95.3%	772,8 k €	+7.6%	718,1 k €	-65.2%	2,1 M €	+82.0%	1,1 M €	+373%	-415,6 k €	-123%	1,8 M €	+104%	-49,7 M €	-104%	-24,4 M €	-101%	1,8 Md €
Balance sheet
Equity	214,4 M €	+2.2%	209,8 M €	+0.1%	209,7 M €	+0.4%	208,8 M €	+33.6%	156,2 M €	-1.3%	158,3 M €	+0.2%	158,0 M €	+0.4%	157,3 M €	+0.3%	156,8 M €	+6.0%	147,9 M €	+0.0%	147,8 M €	+0.0%	147,8 M €	+0.5%	147,0 M €	+0.5%	146,3 M €	+1.4%	144,2 M €	+0.8%	143,1 M €	-0.3%	143,5 M €	-91.9%	1,8 Md €	-2.7%	1,8 Md €	-1.3%	1,8 Md €
Total assets	214,6 M €	+2.1%	210,3 M €	-0.0%	210,3 M €	+0.7%	208,9 M €	+33.6%	156,3 M €	-1.4%	158,6 M €	+0.1%	158,3 M €	-1.3%	160,5 M €	-1.2%	162,4 M €	+3.4%	157,1 M €	+0.0%	157,1 M €	+0.1%	157,0 M €	+0.5%	156,2 M €	+0.3%	155,9 M €	+1.2%	154,0 M €	+0.5%	153,3 M €	+0.2%	153,0 M €	-97.7%	6,7 Md €	-3.9%	6,9 Md €	-4.8%	7,3 Md €
Cash	27,0 M €	-13.7%	31,2 M €	-7.5%	33,8 M €	-38.5%	54,9 M €	+7401%	731,8 k €	+60858%	1,2 k €		–		77,2 M €	-13.1%	88,8 M €	-3.0%	91,5 M €	-20.1%	114,6 M €	+0.8%	113,6 M €	+44.7%	78,5 M €	-23.7%	102,9 M €	+230%	31,2 M €	+716%	3,8 M €	-85.5%	26,4 M €	+154%	10,4 M €		–		–
Debts	117,2 k €	-68.8%	375,2 k €	-35.5%	582,0 k €	+830%	62,6 k €	+99.6%	31,3 k €	+249%	9,0 k €	-86.4%	66,2 k €	-97.7%	2,9 M €	-45.9%	5,3 M €	+1800%	280,8 k €	-13.2%	323,3 k €	+18.9%	271,9 k €	+0.6%	270,2 k €	-39.9%	449,9 k €	-27.5%	620,8 k €	-46.1%	1,2 M €	+326%	270,5 k €	-100.0%	4,8 Md €	-5.0%	5,0 Md €	-6.3%	5,4 Md €
Other
Workforce	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	+100%	0,5 ETP	0.0%	0,5 ETP	-28.6%	0,7 ETP	-12.5%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP	-20.0%	1,0 ETP	0.0%	1,0 ETP	+66.7%	0,6 ETP	+100%	0,3 ETP		–		–		–

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 42 ended

Active mandates

Vanessa Issi

Director · since 19 mars 2024 · until 19 mars 2030

Active

Arne CHRISTOFFELS

Director · since 18 mars 2022 · until 18 mars 2028

Active

Céline Vaessen

Director · since 18 mars 2022 · until 18 mars 2028

Active

Julien DUGAUQUIER

Director · since 18 mars 2022 · until 18 mars 2028

Active

Leen BOGAERT

Director · since 18 mars 2022 · until 18 mars 2028

Active

Tom FEYS

Director · since 18 mars 2022 · until 18 mars 2028

Active

Ended mandates

Julien DUGAUQUIER

Chairman of the board of directors · since 18 mars 2022 · until 18 mars 2028

Ended

Leen BOGAERTS

Director · since 18 mars 2022 · until 18 mars 2028

Ended

Véronique Tai

Director · since 18 mars 2022 · until 18 mars 2028

Ended

Matthieu DE POSCH

Government commissioner · since 11 septembre 2018

Ended

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	31/03/2026	29/04/2025	19/04/2024	18/04/2023	31/03/2022	10/05/2021
General meeting	19/03/2026	19/03/2025	19/03/2024	20/03/2023	18/03/2022	19/03/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

36 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	19/03/2026	31/03/2026	French	PDF
Full model	31/12/2025	19/03/2026	31/03/2026	Dutch	PDF
Full model	31/12/2024	19/03/2025	29/04/2025	Dutch	PDF
Full model	31/12/2024	19/03/2025	25/04/2025	French	PDF
Full model	31/12/2023	19/03/2024	19/04/2024	Dutch	PDF
Full model	31/12/2023	19/03/2024	19/04/2024	French	PDF
Full model	31/12/2022	20/03/2023	18/04/2023	Dutch	PDF
Full model	31/12/2022	20/03/2023	18/04/2023	French	PDF
Full model	31/12/2021	18/03/2022	31/03/2022	French	PDF
Full model	31/12/2021	18/03/2022	31/03/2022	Dutch	PDF
Full model	31/12/2020	19/03/2021	10/05/2021	Dutch	PDF
Full model	31/12/2020	19/03/2021	10/05/2021	French	PDF
Full model	31/12/2019	19/03/2020	16/06/2020	Dutch	PDF
Full model	31/12/2019	19/03/2020	08/06/2020	French	PDF
Full model	31/12/2018	06/05/2019	03/06/2019	French	PDF
Full model	31/12/2018	06/05/2019	03/06/2019	Dutch	PDF
Full model	31/12/2017	07/05/2018	21/06/2018	French	PDF
Full model	31/12/2017	07/05/2018	21/06/2018	Dutch	PDF
Full model	31/12/2016	02/05/2017	17/05/2017	French	PDF
Full model	31/12/2016	02/05/2017	17/05/2017	Dutch	PDF
Full model	31/12/2015	02/05/2016	24/05/2016	French	PDF
Full model	31/12/2015	02/05/2016	24/05/2016	Dutch	PDF
Full model	31/12/2014	04/05/2015	25/06/2015	Dutch	PDF
Full model	31/12/2014	04/05/2015	25/06/2015	French	PDF

View all 36 filings

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 31/12/2025 · 6 active · 42 ended

Active mandates

Vanessa Issi

Director · since 19 mars 2024 · until 19 mars 2030

Active

Arne CHRISTOFFELS

Director · since 18 mars 2022 · until 18 mars 2028

Active

Céline Vaessen

Director · since 18 mars 2022 · until 18 mars 2028

Active

Julien DUGAUQUIER

Director · since 18 mars 2022 · until 18 mars 2028

Active

Leen BOGAERT

Director · since 18 mars 2022 · until 18 mars 2028

Active

Tom FEYS

Director · since 18 mars 2022 · until 18 mars 2028

Active

Ended mandates

Julien DUGAUQUIER

Chairman of the board of directors · since 18 mars 2022 · until 18 mars 2028

Ended

Leen BOGAERTS

Director · since 18 mars 2022 · until 18 mars 2028

Ended

Véronique Tai

Director · since 18 mars 2022 · until 18 mars 2028

Ended

Matthieu DE POSCH

Government commissioner · since 11 septembre 2018

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other31/08/2026
ERRATUM aan het uittreksel van 22 juli 2026 onder nummer 26093816:
PDF
Restructuring08/05/2026
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring08/05/2026
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates29/12/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/12/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates09/05/2025
ONTSLAGEN - BENOEMINGEN - DIVERSEN
PDF
Mandates09/05/2025
DEMISSIONS, NOMINATIONS - DIVERS
PDF
Mandates01/07/2024
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 20254,6 M €↑
2024
Annual accounts 2024179,7 k €↓
19/03/2024
reconductionLuis Laperal — représentant permanent du commissaire
19/03/2024
reconductionLuis Laperal — vaste vertegenwoordiger van de commissaris
19/03/2024
nominationVanessa Issi — bestuurder
19/03/2024
reconductionRSM inter Audit SRL Bedrijfsrevisoren (RSM Belgium) — commissaris
19/03/2024
nominationVanessa Issi — administratrice
19/03/2024
reconductionRSM Inter Audit SRL Réviseurs d'entreprises (RSM Belgium) — commissaire
2023
Annual accounts 20231,1 M €↑
2022
Annual accounts 2022-6,8 M €↓
25/04/2022
augmentation_capital
25/04/2022
apport
25/04/2022
augmentation_capital
25/04/2022
apport
18/03/2022
reconductionTai, Véronique — bestuurder
18/03/2022
nominationBogaerts, Leen — bestuurder
18/03/2022
nominationChristofferls, Arne — bestuurder
18/03/2022
nominationDugauquier, Julien — bestuurder
18/03/2022
nominationFeys, Tom — bestuurder
18/03/2022
nominationVaessen, Céline — bestuurder
2021
Annual accounts 2021-2,0 M €↓
01/07/2021
nominationPaul Schouls — Gedelegeerde tot het dagelijks bestuur
01/07/2021
nominationPaul Schouls — Délégué à la gestion journalière
2020
Annual accounts 2020289,3 k €↓
2019
Annual accounts 2019658,8 k €↑
2018
Annual accounts 2018504,8 k €↓
2017
Annual accounts 20178,9 M €↑
2016
Annual accounts 201662,6 k €↑
2015
Annual accounts 201536,0 k €↓
2014
Annual accounts 2014772,8 k €↑
2013
Annual accounts 2013718,1 k €↓
2012
Annual accounts 20122,1 M €↑
2011
Annual accounts 20111,1 M €↑
2010
Annual accounts 2010-415,6 k €↓
2009
Annual accounts 20091,8 M €↑
2007
Annual accounts 2007-49,7 M €↓
2006
Annual accounts 2006-24,4 M €↓
2005
Annual accounts 20051,8 Md €
24/06/2004
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

SFPIM Real Estate

Overview

What does SFPIM Real Estate do?

Trend over 20 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

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline