ACTIVE

BELGENEXT

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Financial year 2025 · closed on 31/12/2025

Net result

693,8 k €

+37.4% YoY

Gross margin

4,4 M €

+30.4% YoY

Equity

41,9 M €

+1.7% YoY

What does BELGENEXT do?

BELGENEXT is a Public limited company incorporated in 2006. Its registered office is in Watermael-Boitsfort.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0880.718.230

Incorporation

13/04/2006

Legal form

Public limited company

Registered office

Chaussée de La Hulpe 150
1170 Watermael-Boitsfort · BruxellesSee on map

Contributed capital

36 361 121,16 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	4,4 M €	+30.4%	3,4 M €	+21.5%	2,8 M €	+94.7%	1,4 M €	-10.7%	1,6 M €	+16.8%	1,4 M €	-67.1%	4,2 M €	+299%	1 M €	+19.0%	879,9 k €	-27.6%	1,2 M €	-14.4%	1,4 M €	+77.8%	798,8 k €	+280%	210,4 k €	+341%	47,7 k €	+436%	-14,2 k €	-107%	200,2 k €	-18.2%	244,6 k €	+43.7%	170,3 k €	-42.1%	293,9 k €
EBITDA	3,5 M €	+21.1%	2,9 M €	+63.4%	1,8 M €	+50.0%	1,2 M €	-17.8%	1,4 M €	+20.0%	1,2 M €	-69.7%	4 M €	+349%	882,6 k €	+22.0%	723,3 k €	-31.0%	1 M €	-18.9%	1,3 M €	+74.3%	741,5 k €	+421%	142,4 k €	+263%	39,2 k €	+308%	-18,9 k €	-110%	195,7 k €	-17.6%	237,3 k €	+45.0%	163,7 k €	-40.8%	276,5 k €
Operating result	1,5 M €	+41.4%	1,1 M €	+3.8%	1 M €	+104%	510,6 k €	-33.2%	764,5 k €	+39.6%	547,4 k €	-80.4%	2,8 M €	+1400%	-215,3 k €	-303%	-53,4 k €	-112%	432,2 k €	-43.5%	765 k €	+82.0%	420,4 k €	+716%	-68,2 k €	+50.8%	-138,6 k €	+32.0%	-203,9 k €	-1574%	13,8 k €	-77.1%	60,4 k €	-12.1%	68,7 k €	-19.6%	85,5 k €
Net result	693,8 k €	+37.4%	505,1 k €	-57.1%	1,2 M €	-83.2%	7 M €	+1190%	542,7 k €	+24.7%	435 k €	-78.0%	2 M €	+618%	-382 k €	-118%	2,2 M €	+581%	316,9 k €	-91.3%	3,6 M €	+823%	392,8 k €	-4.2%	409,9 k €	+307%	-198,4 k €	+26.4%	-269,7 k €	-95.3%	-138,1 k €	-72.5%	-80 k €	-1066%	-6,9 k €	-133%	21 k €
Balance sheet
Equity	41,9 M €	+1.7%	41,2 M €	+33.5%	30,9 M €	+4.0%	29,7 M €	+7.2%	27,7 M €	-1.6%	28,1 M €	+1.6%	27,7 M €	+7.7%	25,7 M €	-10.1%	28,6 M €	+8.2%	26,5 M €	+1.2%	26,1 M €	+6.9%	24,4 M €	+44.5%	16,9 M €	+324%	4 M €	-4.7%	4,2 M €	+133%	1,8 M €	-7.1%	1,9 M €	+59.3%	1,2 M €	-0.6%	1,2 M €
Total assets	60,8 M €	-10.9%	68,2 M €	+62.7%	41,9 M €	-6.8%	45 M €	+10.7%	40,7 M €	-3.0%	41,9 M €	-6.9%	45 M €	+12.9%	39,9 M €	-5.1%	42 M €	+6.8%	39,3 M €	+8.5%	36,2 M €	+36.2%	26,6 M €	+44.1%	18,5 M €	+239%	5,4 M €	-3.4%	5,6 M €	-3.2%	5,8 M €	-1.9%	5,9 M €	+40.8%	4,2 M €	+93.5%	2,2 M €
Cash	1,6 M €	+4.5%	1,6 M €	-49.5%	3,1 M €	-35.4%	4,8 M €	+96.3%	2,4 M €	-50.1%	4,9 M €	-34.9%	7,5 M €	+39.5%	5,4 M €	-49.6%	10,7 M €	+346%	2,4 M €	-33.4%	3,6 M €	+642%	484 k €	-77.6%	2,2 M €	+8598%	24,8 k €	+178%	8,9 k €	+31.9%	6,8 k €	-97.4%	265,1 k €	+166%	99,6 k €	+48.8%	66,9 k €
Debts	17,3 M €	-30.5%	24,8 M €	+144%	10,2 M €	-30.3%	14,6 M €	+20.9%	12,1 M €	-5.5%	12,8 M €	-21.6%	16,3 M €	+17.4%	13,9 M €	+5.5%	13,2 M €	+4.0%	12,7 M €	+28.0%	9,9 M €	+392%	2 M €	+39.9%	1,4 M €	-1.1%	1,5 M €	+0.5%	1,4 M €	-64.1%	4 M €	+0.6%	4 M €	+33.3%	3 M €	+214%	955,8 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 32 ended

Active mandates

Charles Heyndereickx

Managing director · since 26 juin 2025 · until 25 juin 2031

Active

Jean-Marc Heynderickx

Director · since 26 juin 2025 · until 26 juin 2031

Active

Stéphanie Heynderickx

Managing director · since 26 juin 2025 · until 25 juin 2031

Active

Ended mandates

Charles Heynderickx

Managing director · since 01 janvier 2024

Ended

Stéphanie Heynderickx

Managing director · since 01 janvier 2024

Ended

Stéphanie Heynderickx

Director · since 04 mai 2021 · until 27 juin 2025

Ended

Stéphanie Heynderickx

Managing director · since 04 mai 2021 · until 27 juin 2025

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	31/07/2026	04/07/2025	04/07/2024	29/06/2023	01/07/2022	05/05/2021
General meeting	25/06/2026	26/06/2025	27/06/2024	29/06/2023	30/06/2022	04/05/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	25/06/2026	31/07/2026	French	PDF
Abridged model	31/12/2024	26/06/2025	04/07/2025	French	PDF
Abridged model	31/12/2023	27/06/2024	04/07/2024	French	PDF
Abridged model	31/12/2022	29/06/2023	29/06/2023	French	PDF
Abridged model	31/12/2021	30/06/2022	01/07/2022	French	PDF
Abridged model	31/12/2020	04/05/2021	05/05/2021	French	PDF
Abridged model	31/12/2019	01/04/2020	20/04/2020	French	PDF
Abridged model	31/12/2018	18/03/2019	25/03/2019	French	PDF
Abridged model	31/12/2017	16/04/2018	27/04/2018	French	PDF
Abridged model	31/12/2016	17/05/2017	22/05/2017	French	PDF
Abridged model	31/12/2015	11/05/2016	17/06/2016	French	PDF
Abridged model	31/12/2014	19/05/2015	25/08/2015	French	PDF
Abridged model	31/12/2013	06/05/2014	31/07/2014	French	PDF
Abridged model	31/12/2012	27/06/2013	19/08/2013	French	PDF
Abridged model	31/12/2011	28/06/2012	27/07/2012	French	PDF
Abridged model	31/12/2010	30/06/2011	27/07/2011	French	PDF
Abridged model	31/12/2009	29/06/2010	06/07/2010	French	PDF
Abridged model	31/12/2008	25/06/2009	30/07/2009	French	PDF
Abridged model	31/12/2007	26/06/2008	16/07/2008	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 32 ended

Active mandates

Charles Heyndereickx

Managing director · since 26 juin 2025 · until 25 juin 2031

Active

Jean-Marc Heynderickx

Director · since 26 juin 2025 · until 26 juin 2031

Active

Stéphanie Heynderickx

Managing director · since 26 juin 2025 · until 25 juin 2031

Active

Ended mandates

Charles Heynderickx

Managing director · since 01 janvier 2024

Ended

Stéphanie Heynderickx

Managing director · since 01 janvier 2024

Ended

Stéphanie Heynderickx

Director · since 04 mai 2021 · until 27 juin 2025

Ended

Stéphanie Heynderickx

Managing director · since 04 mai 2021 · until 27 juin 2025

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates06/02/2026
DEMISSIONS, NOMINATIONS
PDF
Registered office02/12/2025
SIEGE SOCIAL
PDF
Restructuring20/08/2024
CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates26/06/2024
DEMISSIONS, NOMINATIONS
PDF
Restructuring10/06/2024
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Other29/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates25/06/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates08/01/2020
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 2025693,8 k €↑
26/06/2025
reconductionJean-Marc Heynderickx — administrateur
26/06/2025
reconductionStéphanie Heynderickx — administratrice-déléguée
26/06/2025
reconductionCharles Heynderickx — administrateur-délégué
2024
Annual accounts 2024505,1 k €↓
31/07/2024
augmentation_capitalNEXTGEN INVESTMENT GROUP
01/01/2024
nominationCharles Heynderickx — administrateur-délégué
01/01/2024
nominationStéphanie Heynderickx — administrateur-délégué
01/01/2024
augmentation_capitalNEXTGEN INVESTMENT GROUP S.A.
2023
Annual accounts 20231,2 M €↓
2022
Annual accounts 20227 M €↑
2021
Annual accounts 2021542,7 k €↑
2020
Annual accounts 2020435 k €↓
2019
Annual accounts 20192 M €↑
2018
Annual accounts 2018-382 k €↓
2017
Annual accounts 20172,2 M €↑
2016
Annual accounts 2016316,9 k €↓
2015
Annual accounts 20153,6 M €↑
2014
Annual accounts 2014392,8 k €↓
2013
Annual accounts 2013409,9 k €↑
2012
Annual accounts 2012-198,4 k €↑
2012
Name changeBELGENEXT
2011
Annual accounts 2011-269,7 k €↓
2010
Annual accounts 2010-138,1 k €↓
2009
Annual accounts 2009-80 k €↓
2008
Annual accounts 2008-6,9 k €↓
2007
Annual accounts 200721 k €
2007
Name change"MIDFIELD"
13/04/2006
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

BELGENEXT

Overview

What does BELGENEXT do?

Trend over 19 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