ACTIVE

INEOS SERVICES BELGIUM

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Financial year 2025 · closed on 31/12/2025

Net result

3 M €

-18.7% YoY

Revenue

46,7 M €

+0.6% YoY

Equity

50,4 M €

+6.3% YoY

Workforce

169,6 ETP

-1.5% YoY

What does INEOS SERVICES BELGIUM do?

INEOS SERVICES BELGIUM is a Public limited company incorporated in 2005. Its main activity is: Architectural and engineering activities; technical testing and analysis. Its registered office is in Bruxelles. It employs on average 169,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0871.521.046

Incorporation

28/01/2005

Legal form

Public limited company

Registered office

Rue de Ransbeek 310
1120 Bruxelles · BruxellesSee on map

Contributed capital

6 748 000,00 €

Latest accounts

31/12/2025

Average workforce

169,6 ETP

Activities (NACE)

71340Architectural and engineering activities; technical testing and analysis· main 72109Research and experimental development on natural sciences and engineering 72190Other research and experimental development on natural sciences and engineering 09100Support activities for petroleum and natural gas extraction 09100Support activities for petroleum and natural gas extraction 77399Rental and leasing of other machinery, equipment and tangible goods n.e.c.+1

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

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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	46,7 M €	+0.6%	46,4 M €	+8.2%	42,9 M €	+1.1%	42,4 M €	+16.1%	36,5 M €	+4.9%	34,8 M €	-13.2%	40,1 M €	+15.9%	34,6 M €	+4.5%	33,1 M €	+2.8%	32,2 M €	+1.6%	31,7 M €	-9.8%	35,1 M €	+2.9%	34,1 M €	+4.3%	32,7 M €	-0.2%	32,8 M €	-1.6%	33,3 M €	+8.6%	30,7 M €	-7.8%	33,3 M €	+16.1%	28,7 M €	+18.2%	24,2 M €
EBITDA	24,3 M €	-1.0%	24,5 M €	+7.4%	22,8 M €	+4.4%	21,9 M €	+9.0%	20,1 M €	+3.5%	19,4 M €	+1.5%	19,1 M €	+1.7%	18,8 M €	+2.1%	18,4 M €	+4.2%	17,7 M €	-0.6%	17,8 M €	-3.8%	18,5 M €	-6.3%	19,7 M €	-0.4%	19,8 M €	-2.3%	20,3 M €	-2.4%	20,7 M €	-0.1%	20,8 M €	-6.4%	22,2 M €	+26.7%	17,5 M €	+180%	6,3 M €
Operating result	2 M €	-24.4%	2,7 M €	+23.2%	2,2 M €	+6.3%	2,1 M €	+20.6%	1,7 M €	+10.3%	1,6 M €	-7.7%	1,7 M €	+14.0%	1,5 M €	+8.2%	1,4 M €	-3.7%	1,4 M €	+11.9%	1,3 M €	-12.9%	1,5 M €	-19.9%	1,8 M €	-16.2%	2,2 M €	-5.7%	2,3 M €	-7.1%	2,5 M €	+59.5%	1,5 M €	-33.7%	2,3 M €	+9.5%	2,1 M €	+174%	-2,9 M €
Net result	3 M €	-18.7%	3,6 M €	+31.5%	2,8 M €	+12.6%	2,5 M €	+5.6%	2,3 M €	+12.7%	2,1 M €	-8.9%	2,3 M €	+4.5%	2,2 M €	-11.3%	2,4 M €	+25.9%	1,9 M €	-29.3%	2,7 M €	-31.7%	4 M €	+64.3%	2,4 M €	-6.4%	2,6 M €	-1.5%	2,6 M €	-3.0%	2,7 M €	+61.1%	1,7 M €	+16.9%	1,5 M €	+134%	621,3 k €	+115%	-4,1 M €
Balance sheet
Equity	50,4 M €	+6.3%	47,5 M €	+8.5%	43,8 M €	+7.0%	40,9 M €	+4.4%	39,1 M €	+6.1%	36,9 M €	+5.5%	35 M €	+4.9%	33,4 M €	+4.8%	31,8 M €	+6.0%	30 M €	+6.6%	28,2 M €	+10.4%	25,5 M €	+17.9%	21,6 M €	+12.3%	19,3 M €	+14.6%	16,8 M €	+16.6%	14,4 M €	+18.1%	12,2 M €	+17.4%	10,4 M €	+25.1%	8,3 M €	+356%	-3,2 M €
Total assets	63,4 M €	+1.3%	62,6 M €	+6.1%	59,1 M €	+2.8%	57,5 M €	+0.8%	57 M €	+13.8%	50,1 M €	+5.2%	47,6 M €	+3.4%	46 M €	+9.9%	41,9 M €	+8.3%	38,7 M €	+2.6%	37,7 M €	+4.0%	36,2 M €	+2.3%	35,4 M €	-3.4%	36,7 M €	+1.0%	36,3 M €	+10.9%	32,7 M €	-3.8%	34 M €	-1.7%	34,6 M €	-7.7%	37,5 M €	+11.0%	33,8 M €
Cash	627,9 k €	-38.3%	1 M €	-67.9%	3,2 M €	-21.4%	4 M €	+9.9%	3,7 M €	+96.8%	1,9 M €	+503%	308,9 k €	+168%	115,2 k €	+0.4%	114,7 k €	-11.2%	129,2 k €	-76.6%	553,3 k €	+214%	176,1 k €	+229%	53,6 k €	+34.8%	39,7 k €	+66.8%	23,8 k €	-93.3%	357,5 k €	+574%	53,1 k €	-42.1%	91,7 k €	-71.6%	322,6 k €	+34.6%	239,7 k €
Debts	12,7 M €	-14.6%	14,9 M €	+0.1%	14,9 M €	-5.0%	15,6 M €	-8.2%	17 M €	+32.1%	12,9 M €	+4.9%	12,3 M €	-1.2%	12,5 M €	+35.9%	9,2 M €	+9.9%	8,3 M €	-10.5%	9,3 M €	-9.0%	10,2 M €	-23.3%	13,4 M €	-21.4%	17 M €	-12.0%	19,3 M €	+7.2%	18 M €	-14.8%	21,2 M €	-9.8%	23,5 M €	-17.0%	28,3 M €	-18.1%	34,6 M €
Other
Workforce	169,6 ETP	-1.5%	172,2 ETP	-2.8%	177,1 ETP	-0.2%	177,5 ETP	+9.0%	162,8 ETP	+3.0%	158,1 ETP	+1.9%	155,1 ETP	+3.3%	150,1 ETP	+2.7%	146,2 ETP	-2.7%	150,2 ETP	+0.3%	149,7 ETP	-1.8%	152,5 ETP	-2.6%	156,6 ETP	+0.7%	155,5 ETP	+1.9%	152,6 ETP	-1.7%	155,2 ETP	-7.8%	168,4 ETP	-4.3%	176,0 ETP	-1.8%	179,2 ETP	+4.7%	171,2 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 · 3 active · 26 ended

Active mandates

Natalina Arena

Director · since 17 juin 2021 · until 31 mai 2027

Active

Serge Bettonville

Director · since 17 juin 2021 · until 31 mai 2027

Active

Veerle Gonnissen

Director · since 17 juin 2021 · until 31 mai 2027

Active

Ended mandates

Natalina Arena

Director · since 17 juin 2021 · until 30 mai 2024

Ended

Natalina Arena

Director · since 17 juin 2021 · until 10 juin 2024

Ended

Natalina Arena

Director · since 17 juin 2021 · until 30 mai 2027

Ended

Serge Bettonville

Director · since 17 juin 2021 · until 30 mai 2024

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	07/07/2026	25/06/2025	26/08/2024	21/06/2023	14/06/2022	21/06/2021
General meeting	15/06/2026	04/06/2025	10/06/2024	30/05/2023	30/05/2022	17/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	15/06/2026	07/07/2026	French	PDF
Full model	31/12/2024	04/06/2025	25/06/2025	French	PDF
Full model	31/12/2023	10/06/2024	26/08/2024	French	PDF
Full model	31/12/2022	30/05/2023	21/06/2023	French	PDF
Full model	31/12/2021	30/05/2022	14/06/2022	French	PDF
Full model	31/12/2020	17/06/2021	21/06/2021	French	PDF
Full model	31/12/2019	18/06/2020	13/07/2020	French	PDF
Full model	31/12/2018	12/06/2019	21/06/2019	French	PDF
Full modelCorrection	31/12/2017	30/05/2018	29/10/2018	French	PDF
Full model	31/12/2017	30/05/2018	19/06/2018	French	PDF
Full model	31/12/2016	30/05/2017	19/06/2017	French	PDF
Full model	31/12/2015	31/05/2016	10/06/2016	French	PDF
Full model	31/12/2014	02/06/2015	17/06/2015	French	PDF
Full model	31/12/2013	30/05/2014	04/06/2014	French	PDF
Full model	31/12/2012	30/05/2013	03/06/2013	French	PDF
Full model	31/12/2011	30/05/2012	06/06/2012	French	PDF
Full model	31/12/2010	30/05/2011	07/06/2011	Dutch	PDF
Full model	31/12/2009	31/05/2010	28/06/2010	Dutch	PDF
Full model	31/12/2008	29/06/2009	06/07/2009	Dutch	PDF
Full model	31/12/2007	26/06/2008	27/06/2008	Dutch	PDF
Full model	31/12/2006	25/05/2007	27/06/2007	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 · 3 active · 26 ended

Active mandates

Natalina Arena

Director · since 17 juin 2021 · until 31 mai 2027

Active

Serge Bettonville

Director · since 17 juin 2021 · until 31 mai 2027

Active

Veerle Gonnissen

Director · since 17 juin 2021 · until 31 mai 2027

Active

Ended mandates

Natalina Arena

Director · since 17 juin 2021 · until 30 mai 2024

Ended

Natalina Arena

Director · since 17 juin 2021 · until 10 juin 2024

Ended

Natalina Arena

Director · since 17 juin 2021 · until 30 mai 2027

Ended

Serge Bettonville

Director · since 17 juin 2021 · until 30 mai 2024

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/09/2026
Changement de représentant du commissaire
PDF
Mandates27/08/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates27/08/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates12/07/2024
DEMISSIONS, NOMINATIONS
PDF
Other24/10/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates13/09/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates10/08/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates03/09/2020
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 20253 M €↓
04/06/2025
reconductionDeloitte Reviseurs d'Entreprises SRL — commissaire
04/06/2025
nominationCorine Magnin — commissaire
2024
Annual accounts 20243,6 M €↑
10/06/2024
reconductionNatalina Arena — administrateur
10/06/2024
reconductionSerge Bettonville — administrateur
10/06/2024
reconductionVeerle Gonnissen — administrateur
2023
Annual accounts 20232,8 M €↑
2022
Annual accounts 20222,5 M €↑
30/05/2022
nominationCorine Magnin — commissaire
2021
Annual accounts 20212,3 M €↑
2020
Annual accounts 20202,1 M €↓
2019
Annual accounts 20192,3 M €↑
2018
Annual accounts 20182,2 M €↓
2017
Annual accounts 20172,4 M €↑
2016
Annual accounts 20161,9 M €↓
2015
Annual accounts 20152,7 M €↓
2014
Annual accounts 20144 M €↑
2013
Annual accounts 20132,4 M €↓
2012
Annual accounts 20122,6 M €↓
2011
Annual accounts 20112,6 M €↓
2010
Annual accounts 20102,7 M €↑
2009
Annual accounts 20091,7 M €↑
2008
Annual accounts 20081,5 M €↑
2007
Annual accounts 2007621,3 k €↑
2006
Annual accounts 2006-4,1 M €
28/01/2005
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

INEOS SERVICES BELGIUM

Overview

What does INEOS SERVICES BELGIUM 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