ACTIVE

BALTISSE

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Financial year 2025 · closed on 31/12/2025

Net result

67,3 M €

-73.9% YoY

Revenue

2,6 M €

+1.2% YoY

Equity

1,2 Md €

+5.8% YoY

Workforce

23,3 ETP

+28.7% YoY

What does BALTISSE do?

BALTISSE is a Public limited company incorporated in 2006. Its main activity is: Activities of holding companies. Its registered office is in Gent. It employs on average 23,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0885.922.180

Incorporation

26/12/2006

Legal form

Public limited company

Registered office

Pauline Van Pottelsberghelaan 10
9051 Gent · FlandreSee on map

Contributed capital

787 190 818,50 €

Latest accounts

31/12/2025

Average workforce

23,3 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 74151Specialised design activities 70200Management consultancy activities 70220Business and other management consultancy activities 74142Specialised design activities

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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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
Revenue	2,6 M €	+1.2%	2,6 M €	-3.9%	2,7 M €	+38.1%	1,9 M €	+230%	585,6 k €	+1.8%	575 k €	+136%	244 k €	0.0%	244 k €	-65.3%	704 k €	+317%	169 k €	-10.7%	189,2 k €		–		98,7 k €	+2.7%	96,1 k €	-6.7%	103 k €	+7.3%	96 k €	-3.9%	99,9 k €	+7.5%	93 k €		–
EBITDA	-25 M €	+11.7%	-28,4 M €	-59.6%	-17,8 M €	-37.4%	-12,9 M €	+23.2%	-16,8 M €	-48.6%	-11,3 M €	+25.3%	-15,2 M €	-41.1%	-10,8 M €	+26.6%	-14,7 M €	-130%	-6,4 M €	+33.2%	-9,5 M €	-112%	-4,5 M €	-22.5%	-3,7 M €	-37.7%	-2,7 M €	-120%	-1,2 M €	+26.5%	-1,7 M €	-4.7%	-1,6 M €	-206%	-515,4 k €	-786%	-58,2 k €
Operating result	-26,7 M €	+10.9%	-30 M €	-54.9%	-19,4 M €	-34.0%	-14,5 M €	+20.9%	-18,3 M €	-43.4%	-12,8 M €	+23.0%	-16,6 M €	-34.9%	-12,3 M €	+23.9%	-16,2 M €	-109%	-7,7 M €	+27.4%	-10,6 M €	-91.7%	-5,5 M €	-18.9%	-4,7 M €	-28.2%	-3,6 M €	-68.4%	-2,2 M €	+16.3%	-2,6 M €	-2.7%	-2,5 M €	-197%	-846,5 k €	-1355%	-58,2 k €
Net result	67,3 M €	-73.9%	257,6 M €	+24936%	-1 M €	-102%	67,3 M €	+12.5%	59,8 M €	+167%	-88,8 M €	-224%	71,7 M €	+1908%	3,6 M €	+117%	-20,4 M €	-238%	-6 M €	-215%	5,3 M €	+203%	-5,1 M €	-269%	3 M €	-70.0%	10,1 M €	+119%	4,6 M €	+74.9%	2,6 M €	+22.8%	2,2 M €	+94.9%	1,1 M €	+886%	112 k €
Balance sheet
Equity	1,2 Md €	+5.8%	1,2 Md €	+28.7%	897,1 M €	+201%	298,2 M €	+29.1%	230,9 M €	+34.9%	171,1 M €	-34.2%	259,9 M €	+38.1%	188,2 M €	+1.9%	184,6 M €	-10.0%	205,1 M €	-2.9%	211,1 M €	+21.4%	173,8 M €	-2.9%	179 M €	+1.7%	175,9 M €	+6.1%	165,8 M €	+2.9%	161,2 M €	+1.7%	158,6 M €	+61.1%	98,4 M €	+270%	26,6 M €
Total assets	1,3 Md €	+6.5%	1,2 Md €	+4.4%	1,1 Md €	+8.3%	1,1 Md €	+30.0%	812,4 M €	+32.3%	613,9 M €	+6.0%	578,9 M €	+24.7%	464,3 M €	-2.5%	476,3 M €	+10.3%	431,6 M €	+33.2%	324,1 M €	+3.4%	313,3 M €	+4.3%	300,5 M €	+21.4%	247,5 M €	+23.8%	199,9 M €	+19.7%	167 M €	+4.5%	159,8 M €	+61.7%	98,8 M €	+271%	26,7 M €
Cash	29,9 M €	+38.8%	21,6 M €	+101%	10,7 M €	+5.7%	10,1 M €	-78.4%	46,9 M €	+7.3%	43,7 M €	+271%	11,8 M €	-10.9%	13,2 M €	-1.9%	13,4 M €	-14.1%	15,6 M €	+55.5%	10,1 M €	+64.8%	6,1 M €	+83.3%	3,3 M €	+662%	437,5 k €	+55.6%	281,2 k €	+495%	47,2 k €	+515%	7,7 k €	-49.1%	15,1 k €	+214%	4,8 k €
Debts	49,4 M €	+30.8%	37,8 M €	-83.9%	234,6 M €	-68.4%	742,1 M €	+29.5%	573,1 M €	+29.4%	442,8 M €	+38.8%	319 M €	+15.5%	276,1 M €	-5.3%	291,6 M €	+31.6%	221,6 M €	+96.2%	113 M €	-17.4%	136,7 M €	+14.4%	119,5 M €	+69.5%	70,5 M €	+109%	33,8 M €	+483%	5,8 M €	+377%	1,2 M €	+196%	410,5 k €	+724%	49,8 k €
Other
Workforce	23,3 ETP	+28.7%	18,1 ETP	+30.2%	13,9 ETP	+0.7%	13,8 ETP	-4.8%	14,5 ETP	0.0%	14,5 ETP	-9.4%	16,0 ETP	+1.9%	15,7 ETP	+16.3%	13,5 ETP	+10.7%	12,2 ETP	-13.5%	14,1 ETP	+38.2%	10,2 ETP	+27.5%	8,0 ETP	+25.0%	6,4 ETP	+45.5%	4,4 ETP	0.0%	4,4 ETP	-18.5%	5,4 ETP	+116%	2,5 ETP		–

Estimate

Indicative valuation

As an indication, this company is worth

more than 1.000 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 8 active · 18 ended

Active mandates

A3M

Director · since 27 juin 2025 · until 25 juillet 2027 · 0536.911.430

Represented by Axel Despriet

Active

Louis BALCAEN

Director · since 01 octobre 2021 · until 25 juin 2027

Active

Simon BALCAEN

Director · since 01 octobre 2021 · until 25 juin 2027

Active

BONEM BEHEER

Director · since 25 juin 2021 · until 25 juin 2027 · 0478.085.581

Represented by Marc OOMS

Active

Filiep BALCAEN

Chairman of the board of directors · since 25 juin 2021 · until 25 juin 2027

Active

JOVETI

Director · since 25 juin 2021 · until 25 juin 2027 · 0758.948.190

Represented by Didier YSENBAERT

Active

Marc JANSSENS

Director · since 25 juin 2021 · until 25 juin 2027

Active

Maxime JADOT

Director · since 25 juin 2021 · until 25 juin 2027

Active

Ended mandates

JOVETI

Director · since 01 janvier 2021 · until 25 juin 2021 · 0758.948.190

Represented by Didier YSENBAERT

Ended

Marc JANSSENS

Director · since 30 novembre 2020 · until 25 juin 2021

Ended

Maxime JADOT

Director · since 23 juin 2017 · until 25 juin 2021

Ended

BONEM BEHEER

Director · since 24 septembre 2015 · until 25 juin 2021 · 0478.085.581

Represented by Marc OOMS

Ended

At this address

Other companies at this address

Company	CBE no.
226 INVEST● Active	1039.768.041
ARCHIMEDES OFFICES● Active	0778.865.854
ARDENO● Active	0766.286.934
ARGIBEL● Active	0419.150.757
AtlantaCo● Active	0635.989.606
Avenue Building● Active	0838.744.449
AXS Liège● Active	0805.568.667
Balmaris Holdco● Active	1036.438.070
BALTAIR● Active	0723.772.626
Baltisse Abacus● Active	1015.606.826
Baltisse Management Incentive● Active	1034.175.594
Baltisse Real Estate● Active	0866.682.528
Baltisse Real Estate Investments● Active	0788.252.979
BBSD25● Active	1032.209.266
BLUE LINE STORAGE● Active	0734.703.437
BUILDING● Active	0435.543.856
Clara Construct● Active	1031.918.662
De Veste● Active	0792.431.602
De Veste Monument● Active	1010.243.914
Floorenter● Active	0640.884.938

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	30/06/2025	01/07/2024	26/06/2023	24/06/2022	28/06/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	23/06/2023	24/06/2022	25/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/06/2026	07/07/2026	Dutch	PDF
Full model	31/12/2024	27/06/2025	30/06/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	01/07/2024	Dutch	PDF
Full model	31/12/2022	23/06/2023	26/06/2023	Dutch	PDF
Full model	31/12/2021	24/06/2022	24/06/2022	Dutch	PDF
Full model	31/12/2020	25/06/2021	28/06/2021	Dutch	PDF
Full model	31/12/2019	26/06/2020	01/07/2020	Dutch	PDF
Full model	31/12/2018	28/06/2019	28/06/2019	Dutch	PDF
Full model	31/12/2017	22/06/2018	22/06/2018	Dutch	PDF
Full model	31/12/2016	23/06/2017	05/07/2017	Dutch	PDF
Abridged model	31/12/2015	24/06/2016	27/06/2016	Dutch	PDF
Abridged model	31/12/2014	26/06/2015	26/06/2015	Dutch	PDF
Abridged model	31/12/2013	27/06/2014	15/07/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	29/07/2013	Dutch	PDF
Abridged model	31/12/2011	22/06/2012	23/07/2012	Dutch	PDF
Abridged model	31/12/2010	24/06/2011	19/07/2011	Dutch	PDF
Abridged model	31/12/2009	25/06/2010	14/07/2010	Dutch	PDF
Abridged model	31/12/2008	26/06/2009	15/07/2009	Dutch	PDF
Abridged model	31/12/2007	27/06/2008	24/07/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

more than 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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 8 active · 18 ended

Active mandates

A3M

Director · since 27 juin 2025 · until 25 juillet 2027 · 0536.911.430

Represented by Axel Despriet

Active

Louis BALCAEN

Director · since 01 octobre 2021 · until 25 juin 2027

Active

Simon BALCAEN

Director · since 01 octobre 2021 · until 25 juin 2027

Active

BONEM BEHEER

Director · since 25 juin 2021 · until 25 juin 2027 · 0478.085.581

Represented by Marc OOMS

Active

Filiep BALCAEN

Chairman of the board of directors · since 25 juin 2021 · until 25 juin 2027

Active

JOVETI

Director · since 25 juin 2021 · until 25 juin 2027 · 0758.948.190

Represented by Didier YSENBAERT

Active

Marc JANSSENS

Director · since 25 juin 2021 · until 25 juin 2027

Active

Maxime JADOT

Director · since 25 juin 2021 · until 25 juin 2027

Active

Ended mandates

JOVETI

Director · since 01 janvier 2021 · until 25 juin 2021 · 0758.948.190

Represented by Didier YSENBAERT

Ended

Marc JANSSENS

Director · since 30 novembre 2020 · until 25 juin 2021

Ended

Maxime JADOT

Director · since 23 juin 2017 · until 25 juin 2021

Ended

BONEM BEHEER

Director · since 24 septembre 2015 · until 25 juin 2021 · 0478.085.581

Represented by Marc OOMS

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates27/07/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/07/2026
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares01/06/2026
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates11/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/12/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/12/2023
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares18/04/2023
KAPITAAL - AANDELEN
PDF
Mandates24/12/2021
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

08/05/2026
augmentation_capital
2025
Annual accounts 202567,3 M €↓
27/06/2025
nominationA3M BV — bestuurder
2024
Annual accounts 2024257,6 M €↑
2023
Annual accounts 2023-1 M €↓
25/10/2023
reconductionChristohpe De Paepe — commissaris
04/09/2023
nominationHeider Ridha — B-lid van het Uitvoerend Comité
31/03/2023
apportEnterhold SA
31/03/2023
augmentation_capital
31/03/2023
augmentation_capital
2022
Annual accounts 202267,3 M €↑
2021
Annual accounts 202159,8 M €↑
2020
Annual accounts 2020-88,8 M €↓
2019
Annual accounts 201971,7 M €↑
2018
Annual accounts 20183,6 M €↑
2017
Annual accounts 2017-20,4 M €↓
2016
Annual accounts 2016-6 M €↓
2015
Annual accounts 20155,3 M €↑
2014
Annual accounts 2014-5,1 M €↓
2013
Annual accounts 20133 M €↓
2012
Annual accounts 201210,1 M €↑
2011
Annual accounts 20114,6 M €↑
2010
Annual accounts 20102,6 M €↑
2009
Annual accounts 20092,2 M €↑
2008
Annual accounts 20081,1 M €↑
2007
Annual accounts 2007112 k €
26/12/2006
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

BALTISSE

Overview

What does BALTISSE 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