ACTIVE

BEL V

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Financial year 2023 · closed on 31/12/2023

Net result

1,8 M €

+480.0% YoY

Revenue

15,9 M €

+18.9% YoY

Equity

15,6 M €

+49.6% YoY

Workforce

78,3 ETP

-5.0% YoY

What does BEL V do?

BEL V is a Private foundation incorporated in 2007. Its main activity is: Technical testing and analysis. Its registered office is in Anderlecht. It employs on average 78,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0892.419.202

Incorporation

01/10/2007

Legal form

Private foundation

Registered office

Rue Walcourt 148
1070 Anderlecht · BruxellesSee on map

Latest accounts

31/12/2023

Average workforce

78,3 ETP

Activities (NACE)

71209Technical testing and analysis· main 71209Technical testing and analysis 94994Activities of other membership organisations n.e.c.94994Activities of other membership organisations n.e.c.

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 10 financial years

	2023		2018		2017		2015		2014		2013		2012		2010		2009		2008
Income statement
Revenue	15,9 M €	+18.9%	13,3 M €	+4.5%	12,8 M €	+0.2%	12,7 M €	+9.8%	11,6 M €	+5.7%	11 M €	+9.2%	10,1 M €	+8.6%	9,3 M €	+23.5%	7,5 M €	+40.3%	5,3 M €
EBITDA	2 M €	+217%	637,4 k €	+65.9%	384,3 k €	-66.8%	1,2 M €	+32.2%	875,6 k €	+17.9%	742,6 k €	+3.8%	715,3 k €	-66.3%	2,1 M €	+167%	796,2 k €	+6.7%	746,4 k €
Operating result	1,7 M €	+438%	321,5 k €	+401%	-106,7 k €	-116%	662,9 k €	+82.0%	364,2 k €	+59.8%	227,9 k €	+30.2%	175 k €	-89.0%	1,6 M €	+469%	278,9 k €	+18.9%	234,6 k €
Net result	1,8 M €	+480%	315 k €	+379%	-112,8 k €	-117%	667,3 k €	+80.7%	369,3 k €	+54.3%	239,3 k €	+20.8%	198 k €	-87.5%	1,6 M €	+579%	232,4 k €	+141%	96,6 k €
Balance sheet
Equity	15,6 M €	+49.6%	10,4 M €	+3.1%	10,1 M €	+6.6%	9,5 M €	+7.6%	8,8 M €	+4.4%	8,4 M €	+2.9%	8,2 M €	+23.6%	6,6 M €	+31.2%	5,1 M €	+4.8%	4,8 M €
Total assets	18,5 M €	+52.3%	12,2 M €	+3.9%	11,7 M €	-14.7%	13,7 M €	+3.7%	13,2 M €	-1.9%	13,5 M €	-4.7%	14,2 M €	-5.9%	15 M €	+24.1%	12,1 M €	+3.7%	11,7 M €
Cash	10,3 M €	+187%	3,6 M €	-2.9%	3,7 M €	-21.4%	4,7 M €	+17.0%	4 M €	-6.6%	4,3 M €	-3.9%	4,5 M €	+0.6%	4,4 M €	+108%	2,1 M €	+124%	958,1 k €
Debts	2,9 M €	+68.4%	1,7 M €	+8.8%	1,6 M €	-62.5%	4,2 M €	-4.0%	4,4 M €	-12.4%	5 M €	-15.2%	5,9 M €	-29.0%	8,4 M €	+18.7%	7,1 M €	+2.9%	6,9 M €
Other
Workforce	78,3 ETP	-5.0%	82,4 ETP	0.0%	82,4 ETP	+7.4%	76,7 ETP	+3.6%	74,0 ETP	+3.1%	71,8 ETP	+3.5%	69,4 ETP	+16.4%	59,6 ETP	+14.8%	51,9 ETP	+53.1%	33,9 ETP

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 31/12/2023 · 6 active · 19 ended

Active mandates

Frank HARDEMAN

Director · since 01 mai 2018 · until 30 avril 2024

Active

Jihane ANNANE

Director · since 13 novembre 2017 · until 31 mai 2020

Active

Didier MALHERBE

Chairman of the board of directors · since 01 juin 2014 · until 31 mai 2020

Active

Joost GERMIS

Director · since 01 juin 2014 · until 23 septembre 2022

Active

Michel JURISSE

Director · since 01 juin 2014 · until 31 mai 2020

Active

Sven VANEYCKEN

Director · since 01 juin 2014 · until 31 mai 2020

Active

Ended mandates

Frank HARDEMAN

Director · since 01 mai 2018 · until 31 mai 2020

Ended

Joeri HENS

Director · since 01 juin 2014 · until 31 mai 2020

Ended

Joost GERMIS

Director · since 01 juin 2014 · until 31 mai 2020

Ended

Philippe DE SADELEER

Director · since 01 juin 2014 · until 31 mai 2020

Ended

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	03/07/2025	02/07/2024	20/06/2023	28/06/2022	30/06/2021	09/07/2020
General meeting	10/06/2025	24/06/2024	12/06/2023	13/06/2022	21/06/2021	22/06/2020
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

38 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2024	10/06/2025	03/07/2025	French	PDF
Full model	31/12/2024	10/06/2025	03/07/2025	Dutch	PDF
Full model	31/12/2023	24/06/2024	02/07/2024	French	PDF
Full model	31/12/2023	24/06/2024	02/07/2024	Dutch	PDF
Full model	31/12/2022	12/06/2023	20/06/2023	Dutch	PDF
Full model	31/12/2022	12/06/2023	20/06/2023	French	PDF
Full model	31/12/2021	13/06/2022	28/06/2022	French	PDF
Full model	31/12/2021	13/06/2022	28/06/2022	Dutch	PDF
Full model	31/12/2020	21/06/2021	30/06/2021	Dutch	PDF
Full model	31/12/2020	21/06/2021	30/06/2021	French	PDF
Full model	31/12/2019	22/06/2020	09/07/2020	Dutch	PDF
Full model	31/12/2019	22/06/2020	09/07/2020	French	PDF
Full model	31/12/2018	24/06/2019	02/07/2019	Dutch	PDF
Full model	31/12/2018	24/06/2019	02/07/2019	French	PDF
Full model	31/12/2017	11/06/2018	13/06/2018	Dutch	PDF
Full model	31/12/2017	11/06/2018	13/06/2018	French	PDF
Full modelCorrection	31/12/2016	29/05/2017	28/09/2017	French	PDF
Full modelCorrection	31/12/2016	29/05/2017	28/09/2017	Dutch	PDF
Full model	31/12/2016	29/05/2017	15/06/2017	Dutch	PDF
Full model	31/12/2016	29/05/2017	15/06/2017	French	PDF
Full model	31/12/2015	30/05/2016	17/06/2016	Dutch	PDF
Full model	31/12/2015	30/05/2016	17/06/2016	French	PDF
Full model	31/12/2014	02/06/2015	10/07/2015	Dutch	PDF
Full model	31/12/2014	02/06/2015	10/07/2015	French	PDF

View all 38 filings

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 31/12/2023 · 6 active · 19 ended

Active mandates

Frank HARDEMAN

Director · since 01 mai 2018 · until 30 avril 2024

Active

Jihane ANNANE

Director · since 13 novembre 2017 · until 31 mai 2020

Active

Didier MALHERBE

Chairman of the board of directors · since 01 juin 2014 · until 31 mai 2020

Active

Joost GERMIS

Director · since 01 juin 2014 · until 23 septembre 2022

Active

Michel JURISSE

Director · since 01 juin 2014 · until 31 mai 2020

Active

Sven VANEYCKEN

Director · since 01 juin 2014 · until 31 mai 2020

Active

Ended mandates

Frank HARDEMAN

Director · since 01 mai 2018 · until 31 mai 2020

Ended

Joeri HENS

Director · since 01 juin 2014 · until 31 mai 2020

Ended

Joost GERMIS

Director · since 01 juin 2014 · until 31 mai 2020

Ended

Philippe DE SADELEER

Director · since 01 juin 2014 · until 31 mai 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/04/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates03/04/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/08/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates18/08/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/08/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates03/08/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/06/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates23/06/2021
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

2023
Annual accounts 20231,8 M €↑
2023
Name changeBelV
2018
Annual accounts 2018315 k €↑
2017
Annual accounts 2017-112,8 k €↓
2015
Annual accounts 2015667,3 k €↑
2014
Annual accounts 2014369,3 k €↑
2013
Annual accounts 2013239,3 k €↑
2012
Annual accounts 2012198 k €↓
2010
Annual accounts 20101,6 M €↑
2009
Annual accounts 2009232,4 k €↑
2008
Annual accounts 200896,6 k €
2008
Name changeBEL V
01/10/2007
IncorporationPrivate foundation

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

BEL V

Overview

What does BEL V do?

Trend over 10 financial years

Indicative valuation

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