Summary
B.E. Fin is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €26.9m and a net result of €319,020. Equity has been stable since 2018 (±54% per year). Its solvency ranks better than 74% of 3,032 sector peers (NACE 64, financial year 2025). The company has been active since 1979 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-01-1979 Normal situation
- Registered office
- 45 active companies are registered at this address 3 started in the 12 months before. Source: KBO register, as of 5 November 2026.
- Activity
- Activities of holding companies NACE 64210and 1 other
- Joint committee
- 200 Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.015.891.513 4000 Liège, since 08-02-2000
- Financial year end
- 31 December
- Peppol
- Reachable since 20-11-2020
Board and ownership
Board
- MAES Valérie Galina JeanneDirector · since 13-03-2023
- Valérie MaesDirector · since 13-03-2023
- Véronique Maria Elisabeth Francesca GRAFFDirector · since 05-10-2023
- Auditor
- LIBRA – AUDIT & ASSURANCE
Shareholders
- Wallonie Entreprendre40.34%2025 annual accounts of Wallonie Entreprendre
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts 2025
- Profit
- €319,020
- ▲ 331%
- Equity
- €26.9m
- ▲ 133%
- Total assets
- €31.4m
- ▲ 106%
- Employees on 31-12-2025
- 16
- ▲ 6.7%
Signalslowers riskGrowing equityneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Two signals.
lowers riskneutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €26.9m
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-06-2026, 36 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
36 days early
2024
30 days early
2023
27 days early
2022
39 days early
2021
47 days early
2020
38 days early
2019
66 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 40 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 25 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 25-06-2026 at the NBB all 47 filings
Equity
€26.9m▲ 133%
2024 · €11.5m
Net result
€319,020▲ 331%
2024 · €74,029
Total assets
€31.4m▲ 106%
2024 · €15.3m
Solvency
85.8%▲ 10.2pp
2024 · 75.6%
In the rankings
#4 company by staff growth in the province of Liège, Finance and insurance sector#10 employer in Liège, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€928,564
▲ 46×
2025
20182025
Net result
€319,020
▲ 331%
2025
middle half of the sector
20182025
Equity
€26.9m
▲ 133%
2025
highest quarter of the sector
20182025
Total assets
€31.4m
▲ 106%
2025
middle half of the sector
20182025
Debt
€4.5m
▲ 19.6%
2025
20182025
Working capital
€11.2m
▲ 83.2%
2025
highest quarter of the sector
20182025
Solvency
85.8%
▲ 10.2pp
2025
middle half of the sector
20182025
Current ratio
3.79
▲ 0.97
2025
highest quarter of the sector
20182025
Return on assets (ROA)
1.0%
▲ 0.5pp
2025
middle half of the sector
20182025
Staff (FTE)
16.4
▼ 12.8%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.03m-€0.001m€0.001m▼ 41.6%€0.003m▲ 265%€0.002m▼ 34.6%€0.009m▲ 398%€0.02m▲ 116%€0.9m▲ 46×
Net result€2.4m-€0.005mwithin the sector's middle half€0.002mwithin the sector's middle half▼ 54.2%€0.07mwithin the sector's middle half▲ 30×€0.3mwithin the sector's middle half▲ 331%
Equity€1.3m-€1.3m=€1.3mwithin the sector's middle half=€1.3mwithin the sector's middle half=€1.3mwithin the sector's middle half▲ 0.4%€1.3mwithin the sector's middle half▲ 0.2%€11.5mwithin the sector's middle half▲ 767%€26.9mabove the sector's middle half▲ 133%
Total assets€3.0m-€1.6m▼ 48.6%€2.0mwithin the sector's middle half▲ 30.5%€2.6mwithin the sector's middle half▲ 27.4%€3.8mwithin the sector's middle half▲ 46.4%€4.0mwithin the sector's middle half▲ 4.7%€15.3mwithin the sector's middle half▲ 283%€31.4mwithin the sector's middle half▲ 106%
Debt€1.7m-€0.2m▼ 85.9%€0.7m▲ 197%€1.3m▲ 77.8%€2.5m▲ 94.0%€2.7m▲ 7.1%€3.7m▲ 40.4%€4.5m▲ 19.6%
Working capital€2.7m-€1.3m▼ 51.1%€1.3mwithin the sector's middle half=€0.6mwithin the sector's middle half▼ 56.5%€0.3mwithin the sector's middle half▼ 52.8%€0.8mwithin the sector's middle half▲ 204%€6.1mabove the sector's middle half▲ 641%€11.2mabove the sector's middle half▲ 83.2%
Solvency43.4%-84.5%▲ 41.1pp64.8%within the sector's middle half▼ 19.8pp50.8%within the sector's middle half▼ 13.9pp34.9%within the sector's middle half▼ 16.0pp33.4%within the sector's middle half▼ 1.5pp75.6%within the sector's middle half▲ 42.2pp85.8%within the sector's middle half▲ 10.2pp
Current ratio8.91-6.46▼ 2.452.84within the sector's middle half▼ 3.621.45within the sector's middle half▼ 1.391.11within the sector's middle half▼ 0.341.31within the sector's middle half▲ 0.202.82within the sector's middle half▲ 1.513.79above the sector's middle half▲ 0.97
Return on assets (ROA)79.7%-0.1%within the sector's middle half0.1%within the sector's middle half▼ 0.1pp0.5%within the sector's middle half▲ 0.4pp1.0%within the sector's middle half▲ 0.5pp
Staff (FTE)1.9-8.8▲ 363%10.8above the sector's middle half▲ 22.7%11above the sector's middle half▲ 1.9%11.3above the sector's middle half▲ 2.7%15.6above the sector's middle half▲ 38.1%18.8above the sector's middle half▲ 20.5%16.4above the sector's middle half▼ 12.8%
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is nearly 46 times that of 2024 and the highest since 2018. It is the third rise in a row, after the fall in 2022.
Large changes and their cause
- 2024 Equity +767%, Total assets +283% on 2023. Capital increase of €33,762,387 (Official Gazette 25-09-2024).
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €31.4m
Fixed assets
€16.1m ▲ 179%
Current assets
€15.2m ▲ 60.6%
Equity and liabilities €31.4m
Equity
€26.9m ▲ 133%
Debt
€4.5m ▲ 19.6%
Debt's share of the balance-sheet total falls from 24.4% to 14.2%. Equity and debt are higher.
Key figures and ratios
ROE
1.2%▲
2024 · 0.6%
Debt ≤ 1 year
€4.0m▲
2024 · €3.4m
Income taxes
€44,715▲
2024 · €2,088
Staff costs
€2.0m▲
2024 · €1.8m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 12 | 13 | 16 | 15 | 16 |
| full-time | 12 | 12 | 13 | 13 | 16 |
| part-time | - | 1 | 3 | 2 | - |
| in full-time equivalents | 12 | 12.9 | 15.6 | 14.8 | 16 |
| Average over the year, in full-time equivalents | 11 | 11.2 | 15.3 | 14.1 | 16.4 |
| On a permanent contract | 12 | 13 | 16 | 15 | 16 |
| Joined | 3 | 5 | 5 | 6 | 5 |
| Left | 2 | 4 | 2 | 3 | 4 |
| Training hours | 156 | 294 | 322 | 703 | 351 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €6,663 | - | - | - |
| Financial fixed assets | - | €300,000 | - | €5.4m | €11.8m |
| Depreciation and write-downs of the year | - | €705 | €2,141 | €2,221 | €1,516 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Public contracts awarded
11 awards to 4 suppliers · 2025
Most awards: Architectural, engineering and inspection services (10), Construction work (1).
Luminus Solutions7 awards in 3 notices
Marché public de services relatif à la conclusion d’un contrat de performance énergétique pour les pouvoirs publics wallons « La Province de Namur » et « La Société wallonne des eaux » dans une perspective d'insertion socioprofessionnelle, de soutien aux PME et de promotion de l’EFC.
Show 6 more awards
RWT-2020/17: Marché public de services relatif à la conclusion de contrats de performance énergétique pour des bâtiments de pouvoirs publics locaux wallons dans une perspective d'insertion socioprofessionnelle, de soutien aux PME et de promotion de l’EFC.
RWT-2021/25: Marché public de services relatif à la conclusion de contrats de performance énergétique pour des bâtiments de pouvoirs publics locaux wallons dans une perspective d'insertion socioprofessionnelle, de soutien aux PME et de promotion de l’EFC.
RWT-2021/25: Marché public de services relatif à la conclusion de contrats de performance énergétique pour des bâtiments de pouvoirs publics locaux wallons dans une perspective d'insertion socioprofessionnelle, de soutien aux PME et de promotion de l’EFC.
RWT-2021/25: Marché public de services relatif à la conclusion de contrats de performance énergétique pour des bâtiments de pouvoirs publics locaux wallons dans une perspective d'insertion socioprofessionnelle, de soutien aux PME et de promotion de l’EFC.
RWT-2020/17: Marché public de services relatif à la conclusion de contrats de performance énergétique pour des bâtiments de pouvoirs publics locaux wallons dans une perspective d'insertion socioprofessionnelle, de soutien aux PME et de promotion de l’EFC.
RWT-2020/17: Marché public de services relatif à la conclusion de contrats de performance énergétique pour des bâtiments de pouvoirs publics locaux wallons dans une perspective d'insertion socioprofessionnelle, de soutien aux PME et de promotion de l’EFC.
EQUANS Services2 awards
RWT-2021/25: Marché public de services relatif à la conclusion de contrats de performance énergétique pour des bâtiments de pouvoirs publics locaux wallons dans une perspective d'insertion socioprofessionnelle, de soutien aux PME et de promotion de l’EFC.
Show 1 more award
RWT-2020/17: Marché public de services relatif à la conclusion de contrats de performance énergétique pour des bâtiments de pouvoirs publics locaux wallons dans une perspective d'insertion socioprofessionnelle, de soutien aux PME et de promotion de l’EFC.
RENO.ENERGY1 award
RWT-2021/25: Marché public de services relatif à la conclusion de contrats de performance énergétique pour des bâtiments de pouvoirs publics locaux wallons dans une perspective d'insertion socioprofessionnelle, de soutien aux PME et de promotion de l’EFC.
THOMAS & PIRON RENOVATION1 award
CONCEPTION ET RÉALISATION DE TRAVAUX DE RÉNOVATION POUR DES BÂTIMENTS DES POUVOIRS PUBLICS LOCAUX WALLONS OTTIGNIES-LOUVAIN-LA-NEUVE ET MALMEDY DANS UNE PERSPECTIVE D'INSERTION SOCIOPROFESSIONNELLE, DE SOUTIEN AUX PME ET DE PROMOTION DE L’EFC
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. TED publishes contracts above the European thresholds, since October 2016. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.001m | €0.001m | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.8m | €0.9m | €1.8m | €1.8m | €2.0m | ▲ 11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €58 | - | - | - | €0.001m | €0.002m | €0.002m | €0.002m | ▼ 31.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | €0.001m | - | - |
| Other operating charges640/8 | - | - | - | €0.002m | €0.001m | €0.03m | €0.001m | €0.03m | ▲ 24× |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €0.004m | - |
| Gross operating margin9900 | €0.1m | €0.7m | €0.8m | €0.9m | €0.9m | €1.8m | €1.8m | €2.9m | ▲ 63.8% |
| Operating profit (loss)9901 | -€0.03m | €0.001m | €0.001m | €0.003m | €0.002m | €0.009m | €0.02m | €0.9m | ▲ 46× |
| Financial income75/76B | - | - | - | €0.002m | €0.006m | €0.006m | €0.2m | €0.5m | ▲ 180% |
| Recurring financial income75 | €0.002m | €69 | €45 | €0.002m | €0.006m | €0.004m | €0.2m | €0.5m | ▲ 180% |
| Non-recurring financial income76B | - | - | - | - | - | €0.002m | - | - | - |
| Financial charges65/66B | - | - | - | €0.004m | €0.001m | €0.01m | €0.1m | €1.0m | ▲ 813% |
| Recurring financial charges65 | €0.03m | €231 | €0.001m | €0.004m | €0.001m | €0.01m | €0.03m | €0.02m | ▼ 28.1% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €0.08m | €1.0m | ▲ 12× |
| Profit (loss) for the period before taxes9903 | €2.4m | €0.001m | €319 | €0.001m | €0.007m | €0.005m | €0.08m | €0.4m | ▲ 378% |
| Income taxes67/77 | €9 | €0.001m | €319 | €0.001m | €0.001m | €0.002m | €0.002m | €0.04m | ▲ 21× |
| Profit (loss) for the period9904 | €2.4m | - | - | - | €0.005m | €0.002m | €0.07m | €0.3m | ▲ 331% |
| Profit (loss) for the period to be appropriated9905 | €2.4m | - | - | - | €0.005m | €0.002m | €0.07m | €0.3m | ▲ 331% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.0m | €1.6m | €2.0m | €2.6m | €3.8m | €4.0m | €15.3m | €31.4m | ▲ 106% |
| Fixed assets21/28 | €50 | €50 | €50 | €0.8m | €1.1m | €0.5m | €5.8m | €16.1m | ▲ 179% |
| Tangible fixed assets22/27 | - | - | - | - | €0.006m | €0.004m | €0.002m | €80 | ▼ 95.0% |
| Furniture and vehicles24 | - | - | - | - | €0.006m | €0.004m | €0.002m | €80 | ▼ 95.0% |
| Financial fixed assets28 | €50 | €50 | €50 | €0.8m | €1.1m | €0.5m | €5.8m | €16.1m | ▲ 179% |
| Current assets29/58 | €3.0m | €1.6m | €2.0m | €1.8m | €2.8m | €3.5m | €9.5m | €15.2m | ▲ 60.6% |
| Amounts receivable within one year40/41 | €0.06m | €0.05m | €0.1m | €0.01m | €0.08m | €0.8m | €1.1m | €3.6m | ▲ 228% |
| Trade receivables40 | - | - | - | €0.01m | €0.08m | €0.05m | €0.02m | €1.2m | ▲ 64× |
| Other amounts receivable41 | - | - | - | €0.003m | €0.003m | €0.7m | €1.1m | €2.4m | ▲ 119% |
| Current investments50/53 | €0.1m | €0.5m | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €2.8m | €0.9m | €1.5m | €0.8m | €1.6m | €2.7m | €8.3m | €11.4m | ▲ 36.5% |
| Deferred charges and accrued income490/1 | - | - | - | €1.1m | €1.1m | €0.007m | €0.04m | €0.2m | ▲ 437% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.0m | €1.6m | €2.0m | €2.6m | €3.8m | €4.0m | €15.3m | €31.4m | ▲ 106% |
| Equity10/15 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €11.5m | €26.9m | ▲ 133% |
| Contributions10/11 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €11.1m | €26.2m | ▲ 135% |
| Capital10 | - | - | - | €1.0m | €1.0m | €1.0m | €11.1m | €26.2m | ▲ 135% |
| Issued capital100 | - | - | - | €1.0m | €1.0m | €1.0m | €34.8m | €34.8m | = |
| Uncalled capital101 | - | - | - | - | - | - | €23.6m | €8.6m | ▼ 63.7% |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 15.4% |
| Non-distributable reserves130/1 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 15.4% |
| Legal reserve130 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 15.4% |
| Profit (loss) carried forward14 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.6m | ▲ 101% |
| Amounts payable17/49 | €1.7m | €0.2m | €0.7m | €1.3m | €2.5m | €2.7m | €3.7m | €4.5m | ▲ 19.6% |
| Amounts payable after more than one year17 | €0.3m | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.3m | €0.2m | €0.7m | €1.3m | €2.5m | €2.7m | €3.4m | €4.0m | ▲ 19.4% |
| Trade debts44 | €0.1m | €0.1m | €0.05m | €0.04m | €0.3m | €2.1m | €2.9m | €3.1m | ▲ 8.5% |
| Suppliers440/4 | - | - | - | €0.04m | €0.3m | €2.1m | €2.9m | €3.1m | ▲ 8.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 14.4% |
| Taxes450/3 | - | - | - | €0.03m | €0.05m | €0.07m | €0.05m | €0.07m | ▲ 42.4% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.1m | €0.3m | €0.2m | €0.2m | ▲ 8.3% |
| Other amounts payable47/48 | - | - | - | €1.1m | €2.0m | €0.2m | €0.2m | €0.6m | ▲ 168% |
| Accrued charges and deferred income492/3 | - | - | - | €0.003m | €220 | - | €0.4m | €0.4m | ▲ 21.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.4m | - | - | - | €0.005m | €0.002m | €0.07m | €0.3m | ▲ 331% |
| + Depreciation and write-downs630 | €58 | - | - | - | €0.001m | €0.002m | €0.002m | €0.002m | ▼ 31.7% |
| Operating cash flow (approximation) | €2.4m | - | - | - | €0.006m | €0.005m | €0.08m | €0.3m | ▲ 320% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€0.7m | -€0.3m | €0.6m | -€5.3m | -€10.4m | ▼ 96.4% |
| Change in cash | - | -€2.0m | €0.6m | -€0.7m | €0.8m | €1.1m | €5.6m | €3.0m | ▼ 45.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 47 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 25-06-2026 | 2026-00227728 | |
| 31-12-2024 | full format | 01-07-2025 | 2025-00240705 | |
| 31-12-2023 | full format | 04-07-2024 | 2024-00239645 | |
| 31-12-2022 | full format | 22-06-2023 | 2023-00176298 | |
| 31-12-2021 | full format | 14-06-2022 | 2022-20068106 | |
| 31-12-2020 | full format | 23-06-2021 | 2021-23200552 | |
| 31-12-2019 | full format | 26-05-2020 | 2020-13200222 | |
| 31-12-2018 | full format | 27-05-2019 | 2019-14400455 | |
| 31-12-2017 | full format | 26-04-2018 | 2018-11600030 | |
| 31-12-2016 | full format | 18-05-2017 | 2017-12600086 |
Board & ownership
Directors
Directors
9 directors, 3 in day-to-day management, no change since 2025
Board 9
Current
Valérie Maes
Current
Director · since 13-03-2023 · 5-year term from 2025 · listed in the 2025 annual accounts, filed on 25-06-2026
Véronique Maria Elisabeth Francesca GRAFF
Current
Director · since 05-10-2023 · 5-year term from 2025 · listed in the 2025 annual accounts, filed on 25-06-2026
Bruno Vandezande
Current
Director · since 04-07-2025 · 5-year term from 2025 · listed in the 2025 annual accounts, filed on 25-06-2026
Damien Wathelet
Current
Director · since 04-07-2025 · 5-year term from 2025 · listed in the 2025 annual accounts, filed on 25-06-2026
Déborah Depauw
Current
Director · since 04-07-2025 · 5-year term from 2025 · listed in the 2025 annual accounts, filed on 25-06-2026
Emilie De Decker
Current
Director · since 04-07-2025 · 5-year term from 2025 · listed in the 2025 annual accounts, filed on 25-06-2026
Jean-François Corbisier
Current
Director · since 04-07-2025 · 5-year term from 2025 · listed in the 2025 annual accounts, filed on 25-06-2026
Show all 9 directors
Vincent MOYSE
Current
Director · since 04-07-2025 · 5-year term from 2025 · also on the board of 5 other companies · listed in the 2025 annual accounts, filed on 25-06-2026
Day-to-day management 3
Olivier Bouchat
Current
Chair of the executive committee · appointed by deed of 05-11-2019 · Member of the executive committee · appointed by deed of 05-11-2019 · also on the board of 15 other companies
D. Lourtie
Current
Member of the executive committee · appointed by deed of 29-01-2021
Anne VEREECKE
Current
Member of the executive committee · appointed by deed of 27-03-2023 · also on the board of 4 other companies
Statutory auditor 2
DEPIERREUX Anne-France
Current
LIBRA – AUDIT & ASSURANCE
Current
Statutory auditor · appointed by deed of 11-08-2023 · permanent representative: Hanine Essaheli
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Article 19: La société est représentée dans les actes, y compris ceux où interviennent un fonctionnaire public ou un officier ministériel…”
deed of 06-01-2023Owners and capital
Shareholders
1 ownerOwners 1
- Equity €4.98bn Profit of €151.2m in 2025 (profit of €279.8m in 2024)40.34%
Owners through the years 2008 to 2025
| Name | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Wallonie Entreprendre | 49% | 40.34% | ||||||||||||||||
| WE Environnement | 99.99% | 49% | ||||||||||||||||
| SOCIETE REGIONALE D'INVESTISSEMENT DE WALLONIE | consolidates | 0.01% | consolidates | |||||||||||||||
| S.R.I.W. FINANCE | listed | |||||||||||||||||
Source: parent in its own accounts, lists of holdings in the owners' accounts
Capital transactions
Shareholders according to the deeds
Stated in the deed
deed of 12-05-2026 ↗
- REGION WALLONNE 510 shares
- WALLONIE ENTREPRENDRE 10,698 shares
After the capital increase
deed of 25-09-2024 ↗
- REGION WALLONNE 15,312 shares · €20,257,432.18
- WALLONIE ENTREPRENDRE (BE 0793.630.244) 10,208 shares · €13,504,954.78
Stated in the deed
deed of 25-09-2024 ↗
- REGION WALLONNE 510 shares
- WALLONIE ENTREPRENDRE (BE 0793.630.244) 490 shares
Stated in the deed
deed of 27-05-2019 ↗
- Région Wallonne 21,895,554 shares
- S.R.I.W. Environnement (BE 0426.516.918) 21,036,905 shares
Capital over time
- 12-05-2026 Capital increase of €20,000,000 · to €54,762,386.96 · 15,083 new shares · in cash
- 25-09-2024 Capital increase of €33,762,386.96 · to €34,762,386.96 · 25,520 new shares · in cash
- 06-11-2023 Capital stated in 2 deeds · €1,000,000 · 1,000 shares
- 11-04-2018 Capital increase of €643,916.01 · from reserves
- 11-04-2018 Capital reduction of €9,718,916.01 · repaid to the shareholders
- 11-04-2018 Capital increase of €916,000 · from reserves
- 11-04-2018 Capital reduction of €916,000 · repaid to the shareholders
Mandate history
50 people, 14 in office
- Board
- Day-to-day management
- Statutory auditor
- Other function
- mandate already running before its first mention
- end not dated
| Name | Functions and periods |
|---|---|
| Valérie Maes |
|
| MAES Valérie Galina Jeanne |
|
| Véronique Maria Elisabeth Francesca GRAFF |
|
| Bruno Vandezande |
|
| Damien Wathelet |
|
| Déborah Depauw |
|
| Emilie De Decker |
|
| Jean-François Corbisier |
|
| Vincent MOYSE |
|
| Olivier Bouchat |
|
| D. Lourtie |
|
| Anne VEREECKE |
|
| DEPIERREUX Anne-France |
|
| LIBRA – AUDIT & ASSURANCE |
|
| Dimitri DE WEYER |
|
| Dominique PERRIN |
|
| Emilie Andrée Josiane JENNES |
|
| Philippe Gilson |
|
| Simon Clément |
|
| Jean-Paul BASTIN |
|
| Clément Guy Fabrice Martin SIMON |
|
| 3R, LEBOUTTE & Co |
|
| Caroline Louon |
|
| Jean-Denis Ghysens |
|
| Pauline GOBIN |
|
| Olivier VANDERIJST |
|
| Sylviane BILGISHER |
|
| Cerise HARDY |
|
| Yves Marenne |
|
| Francine Turck |
|
| SPRL VPC |
|
| Didier Hellin |
|
| Sylviane Bilgischer |
|
| Jean-Paul Gofffart |
|
| ADAMS Karl |
|
| Leboeuf Nathalie |
|
| Clément Pouiain |
|
| Clément Poulain |
|
| Jean-Paul GOFFART |
|
| Karine FABRY |
|
| Claude Grégoire |
|
| Sébastien DURIEUX |
|
| Jean Séquaris |
|
| Saintenoy, Comhaire & Co |
|
| ScPRL DELBROUCK, CAMMARATA, GILLES et Associés, Réviseurs d'entreprises |
|
| Michel DELACOLLETTE |
|
| Michel SAVONET |
|
| Labille Jean-Pascal |
|
| BUELEN Philippe |
|
| SPARAXIS S.A. |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- 8 directors
Articles of association, deed of 06-11-2023 (in French)
Network & group
Holdings through the years
2008 to 2018| Name | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BIOTREATMENT | 50% | 35.06% | |||||||||
| ARTECHNO | 26.25% | ||||||||||
| REALCO | 27.09% | 26.24% | 25.91% | ||||||||
| DIWOOD | 17% | 17.01% | 16.64% | ||||||||
| EPE ENGINEERING | 49.8% | ||||||||||
| SECO-BOIS | 41.63% | 30.79% | 28.6% | ||||||||
| ENERGYVAL | 99.82% | ||||||||||
| CELIOCZ | 48.94% | 50% | |||||||||
| EKOWATT | 33.33% | ||||||||||
| GIE Biometha | 26% | ||||||||||
| ENERGIE-FLEUVES | 33% | 25% | |||||||||
| NEOCHIM | 25% | ||||||||||
| T.P.F. | 17.24% | ||||||||||
| Granubois | 21.82% | ||||||||||
Source: list of holdings in its own accounts
Companies at the same address
44 other companies- Green for Power Kappa Registered office · since 06-07-2026Founded in 2026 1039.955.608
- Ile Solaire du Perlonjour Registered office · since 17-11-2025Founded in 2025 1030.461.484
- Helia ventures Registered office · since 06-11-2025Founded in 2025 1030.116.244
- Helia partners Registered office · since 21-10-2025Founded in 2025 1029.462.681
- XA5 Belgium Registered office · since 11-09-2025Founded in 2025 1027.507.340
- ESTOR-LUX III Registered office · since 12-08-2025Founded in 2025 1026.435.588
- XA5 Partners Registered office · since 06-08-2025Founded in 2025 1026.259.010
- Green for Power - Beta Registered office · since 20-01-2025Founded in 2025 · total assets €9.6m (2025) 1018.955.306
- Green for Power Holdco Registered office · since 13-12-2024Founded in 2024 · total assets €36.7m (2025) 1017.348.767
- Société de Reconversion de Chertal Registered office · since 20-03-2024Founded in 2024 · total assets €75.3m (2025) 1007.356.480
Connections & network
21 connected companies, 63 earlier tiesThis company
Company
Director
Shareholding
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Linked via shared directors
SOCIETE PUBLIQUE DE GESTION DE L'EAU
via Olivier Bouchat · Director
Founded in 1980 · turnover €450.2m (2025)
→
→
Société de Développement et de Participation du Bassin de Charleroi
via Olivier Bouchat · Director
Founded in 1985 · turnover €3.7m (2025)
→
NOVALLIA
via Olivier Bouchat, Vincent MOYSE and 2 others · Director
Founded in 2009 · total assets €228.7m (2025)
→
Show 17 more companies with a shared director
→
→
SOCIETE DES CAUTIONS MUTUELLES DE WALLONIE
via Anne VEREECKE and Jean-Paul BASTIN (no longer at SOCIETE DES CAUTIONS MUTUELLES DE WALLONIE) · Director
Founded in 2003 · total assets €120.0m (2025)
→
SAMBRINVEST SPIN-OFF/SPIN-OUT
via Olivier Bouchat · Director
Founded in 2006 · total assets €108.6m (2025)
→
AMERIGO
via Olivier Bouchat · Member of the supervisory board
Founded in 2021 · total assets €82.8m (2025)
→
DEMAINVEST
via Olivier Bouchat · Class B director
Founded in 2018 · turnover €3.3m (2025) · group ELECTRICITE DE FRANCE
→
→
FONDS DE CAPITAL A RISQUE 2020
via Olivier Bouchat · Director
Founded in 2016 · total assets €41.6m (2025)
→
Union des Villes et Communes de Wallonie
via Jean-Paul BASTIN · Director
Founded in 1993 · 76 FTE (2025)
→
Secrétariat Conjoint INTERREG France - Wallonie - Vlaanderen
via Vincent MOYSE · Director
Founded in 2001 · 19 FTE (2025)
→
LA TEIGNOUSE
via Vincent MOYSE · Director and member of the general meeting
Founded in 1997 · 27 FTE (2025)
→
SPARAXIS
via Olivier Bouchat · Permanent representative
Founded in 1994 · total assets €2.4m (2025) · group Wallonie Entreprendre
→
→
→
→
→
SAMANDA
via Olivier Bouchat and Anne VEREECKE (no longer at SAMANDA) · Permanent representative
No longer active · turnover €70,647 (2024)
→
Earlier ties
SPA GRAND PRIX
via Claude Grégoire (at B.E. Fin until 2018), Sébastien DURIEUX (at B.E. Fin until 2018) and BUELEN Philippe (at B.E. Fin, last mentioned in 2008) · Director
Founded in 2006 · 9 FTE (2025) · negative equity
→
ARJEMO
via Sébastien DURIEUX (at B.E. Fin until 2018) · Director
Founded in 2007 · 101 FTE (2025) · negative equity
→
AD.IM.MO
via ADAMS Karl (at B.E. Fin, last mentioned in 2019) · Director
Founded in 2022 · total assets €1.5m (2025) · negative equity
→
PHOS
via Philippe Gilson (at B.E. Fin until 2025) · Permanent representative
Founded in 2015 · total assets €383,455 (2024) · accounts filed late
→
Show 59 more earlier ties
Elia Transmission Belgium
via Claude Grégoire (at B.E. Fin until 2018) · Non-independent director
Founded in 2019 · turnover €1.52bn (2025) · group Elia Group
→
ELIA ASSET
via Claude Grégoire (at B.E. Fin until 2018) · Non-independent director
Founded in 2001 · 1,000 FTE (2025) · group Elia Group
→
Elia Group
via Claude Grégoire (at B.E. Fin until 2018) · Non-independent director
Founded in 2001 · total assets €7.15bn (2025)
→
ORES Assets
via Anne VEREECKE (no longer at ORES Assets) · Director
Founded in 2013 · turnover €1.16bn (2025)
→
FLUXYS
via Claude Grégoire (at B.E. Fin until 2018) · Director
Founded in 2010 · total assets €4.79bn (2025) · group PUBLIGAS
→
BRUSSELS AIRPORT COMPANY
via Olivier VANDERIJST (at B.E. Fin until 2023) · Director
Founded in 2007 · 1,150 FTE (2025) · group Brussels Airport Investments
→
OPERATEUR DE RESEAUX D'ENERGIES
via Anne VEREECKE (no longer at OPERATEUR DE RESEAUX D'ENERGIES) · Director
Founded in 2008 · 3,000 FTE (2025) · group ORES Assets
→
PUBLI-T
via Anne VEREECKE (no longer at PUBLI-T) · Director
Founded in 2001 · total assets €2.74bn (2025)
→
FLUXYS BELGIUM
via Claude Grégoire (at B.E. Fin until 2018) · Director
Founded in 1929 · 919 FTE (2025) · group PUBLIGAS
→
Fondation Roi Baudouin
via Olivier VANDERIJST (at B.E. Fin until 2023) · Director
Founded in 1975 · total assets €1.75bn (2025)
→
TotalEnergies Power & Gas Belgium
via Olivier VANDERIJST (at B.E. Fin until 2023) · Director
Founded in 2003 · 181 FTE (2025) · group TotalEnergies SE
→
PUBLIGAZ
via Claude Grégoire (at B.E. Fin until 2018), Jean Séquaris (at B.E. Fin until 2016) and Dimitri DE WEYER (at B.E. Fin until 2025) · Director
Founded in 1992 · total assets €1.50bn (2025)
→
ENODIA
via BUELEN Philippe (at B.E. Fin, last mentioned in 2008) · Administrateur représentant la région wallonne
Founded in 1923 · 171 FTE (2025)
→
NLMK SALES EUROPE
via Sébastien DURIEUX (at B.E. Fin until 2018) · Director
Founded in 2004 · turnover €862.7m (2025) · group NLMK BELGIUM HOLDINGS
→
FN HERSTAL
via Olivier VANDERIJST (at B.E. Fin until 2023) · Director
Founded in 1990 · 1,489 FTE (2025) · group Wallonie Entreprendre
→
FN Browning Group
via Olivier VANDERIJST (at B.E. Fin until 2023) · Director
Founded in 1991 · turnover €18.3m (2025) · group Wallonie Entreprendre
→
NLMK BELGIUM HOLDINGS
via Sébastien DURIEUX (at B.E. Fin until 2018) and BUELEN Philippe (at B.E. Fin, last mentioned in 2008) · Director
Founded in 2000 · 72 FTE (2025)
→
SPI
via Jean-Paul BASTIN (no longer at SPI) and Vincent MOYSE (no longer at SPI)
Founded in 1968 · 105 FTE (2025)
→
ASSOCIATION INTERCOMMUNALE POUR LE DEMERGEMENT ET L'EPURATION DES COMMUNES DE LA PROVINCE DE LIEGE
via Dominique PERRIN (at B.E. Fin until 2025) · Director
Founded in 1928 · 284 FTE (2025)
→
NLMK LA LOUVIERE
via Sébastien DURIEUX (at B.E. Fin until 2018) · Director
Founded in 1976 · 602 FTE (2025) · group NLMK BELGIUM HOLDINGS
→
NLMK PLATE SALES
via Sébastien DURIEUX (at B.E. Fin until 2018) · Director
Founded in 2014 · turnover €268.9m (2025) · group NLMK BELGIUM HOLDINGS
→
NLMK CLABECQ
via Sébastien DURIEUX (at B.E. Fin until 2018) · Director
Founded in 1997 · 408 FTE (2025) · group NLMK BELGIUM HOLDINGS
→
WALLONIE SANTE FINANCES
via Jean-Paul BASTIN (no longer at WALLONIE SANTE FINANCES) · Director
Founded in 2018 · total assets €178.5m (2025)
→
Liege airport
via Dominique PERRIN (at B.E. Fin until 2025) · Class A director
Founded in 1990 · 241 FTE (2025) · group ENODIA
→
C-POWER HOLDCO
via Claude Grégoire (at B.E. Fin until 2018) · Director
Founded in 2000 · total assets €112.5m (2025)
→
Otary RS
via ADAMS Karl (at B.E. Fin, last mentioned in 2019) · Permanent representative
Founded in 2011 · 42 FTE (2024)
→
FINANCIERE D'ENTREPRISE ET DE RENOVATION IMMOBILIERE
via Sébastien DURIEUX (at B.E. Fin until 2018) · Director
Founded in 2005 · total assets €55.6m (2025) · group Waals Gewest
→
NeWIN
via BUELEN Philippe (at B.E. Fin, last mentioned in 2008) · Vice-chair
Founded in 2009 · 114 FTE (2025)
→
WALLIMAGE
via Olivier VANDERIJST (at B.E. Fin until 2023) and Sébastien DURIEUX (at B.E. Fin until 2018) · Director
Founded in 2000 · 15 FTE (2025)
→
FONDS D'INVESTISSEMENT DANS LES ENTREPRISES CULTURELLES "St'art"
via BUELEN Philippe (at B.E. Fin, last mentioned in 2008) · Director
Founded in 2009 · 5 FTE (2025)
→
CONSTRUCTIONS ELECTRONIQUES + TELECOMMUNICATIONS
via Claude Grégoire (at B.E. Fin until 2018) and Jean Séquaris (at B.E. Fin until 2016) · Director
Founded in 1956 · 65 FTE (2025)
→
Solidaris Immo
via Claude Grégoire (at B.E. Fin until 2018) · Director
Founded in 2003 · 13 FTE (2025)
→
W.ALTER.
via Olivier Bouchat (no longer at W.ALTER.) · Vice-chair
Founded in 1995 · 7.1 FTE (2025) · group Wallonie Entreprendre
→
POWER@SEA
via Claude Grégoire (at B.E. Fin until 2018) · Director
Founded in 1999 · total assets €25.2m (2025) · group ACKERMANS & VAN HAAREN
→
GESVAL
via Jean Séquaris (at B.E. Fin until 2016) · Director
Founded in 1991 · total assets €15.6m (2025)
→
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COMNEXIO
via Anne VEREECKE (no longer at COMNEXIO) · Director
Founded in 2019 · 148 FTE (2025) · group ORES Assets
→
Solidaris Coopérative
via Claude Grégoire (at B.E. Fin until 2018) · Director
Founded in 2009 · total assets €13.3m (2025)
→
IMMO CIRCUS WALLONIE
via BUELEN Philippe (at B.E. Fin, last mentioned in 2008) · Director
Founded in 1998 · total assets €12.9m (2025) · group ARDENT INVEST
→
NLMK MANAGE STEEL CENTER
via Sébastien DURIEUX (at B.E. Fin until 2018) · Director
Founded in 2000 · 66 FTE (2025) · group NLMK BELGIUM HOLDINGS
→
Conseil de l'Enseignement des Communes et des Provinces
via Jean-Paul BASTIN (no longer at Conseil de l'Enseignement des Communes et des Provinces) · Director
Founded in 1991 · 24 FTE (2025)
→
→
SOCIETE DE DEVELOPPEMENT DE LIEGE GUILLEMINS
via ADAMS Karl (at B.E. Fin, last mentioned in 2019) · Director
Founded in 1993 · total assets €5.0m (2025)
→
TUBES DE HAREN ET NIMY
via Sébastien DURIEUX (at B.E. Fin until 2018) · Director
Founded in 1957 · total assets €4.5m (2025) · group NLMK BELGIUM HOLDINGS
→
Agence locale pour l'Emploi de Aywaille
via Vincent MOYSE (no longer at Agence locale pour l'Emploi de Aywaille) · Director
Founded in 1995 · 37 FTE (2025)
→
ENTRAIDE ET SANTE
via Vincent MOYSE (no longer at ENTRAIDE ET SANTE) · Director
Founded in 1961 · total assets €3.1m (2025)
→
Durobor Real Estate
via Sébastien DURIEUX (at B.E. Fin until 2018) · Director
Founded in 2012 · total assets €3.0m (2025)
→
NLMK JEMAPPES STEEL CENTER
via Sébastien DURIEUX (at B.E. Fin until 2018) · Director
Founded in 1983 · turnover €1.5m (2025) · group NLMK BELGIUM HOLDINGS
→
Section Belge du Centre International de Recherches et d'Informations Sur l'Economie publique, sociale et coopérative
via Caroline Louon (at B.E. Fin until 2023) and Jean Séquaris (at B.E. Fin until 2016) · Director
Founded in 1952 · 7 FTE (2025)
→
SPRIMOCOOP
via Philippe Gilson (at B.E. Fin until 2025) · Director (not named in the articles)
Founded in 2024 · total assets €333,685 (2025)
→
Transeo
via ADAMS Karl (at B.E. Fin, last mentioned in 2019) · Representative
Founded in 2011 · total assets €72,341 (2025)
→
Agir pour le Climat et la Transition Ecologique et Solidaire
via Philippe Gilson (at B.E. Fin until 2025) · Director
Founded in 2019
→
DW Advisory
via Dimitri DE WEYER (at B.E. Fin until 2025) · Director (not named in the articles)
Founded in 2026
→
Groupe pour HEC-Ecole , Management School University of Liège
via ADAMS Karl (at B.E. Fin, last mentioned in 2019) · Director
Founded in 1974
→
LIGUE DU COIN DE TERRE ET DU FOYER - SOCIETE ROYALE - SECTION BRESSOUX
via Dominique PERRIN (at B.E. Fin until 2025) · Director
Founded in 1925
→
→
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Timeline
Deeds, filings and financial milestones
Deadline for the 2026 accounts:
2026
25-06
full format · 36 days before the deadline
12-05
Gazette deed
Capital increase of €20,000,000 to €54,762,386.96Capital from €34,762,386.96 to €54,762,386.96, 15,083 new shares · REGION WALLONNE holds 510 shares · REGION WALLONNE holds 15,312 shares8 points ▸
Gazette deed
Capital increase of €20,000,000 to €54,762,386.96
Capital from €34,762,386.96 to €54,762,386.96, 15,083 new shares · REGION WALLONNE holds 510 shares · REGION WALLONNE holds 15,312 shares8 points ▸
- General meeting, 23-04-2026
- REGION WALLONNE holds 510 shares
- REGION WALLONNE holds 15,312 shares
- WALLONIE ENTREPRENDRE holds 10,698 shares
- Capital increase, €20,000,000
- REGION WALLONNE holds 9,050 shares
- WALLONIE ENTREPRENDRE holds 6,033 shares
- Amendment of the articles, article 5
- The deed holds 10 more points.
2025
31-12
Financial
Equity above €25mequity €26.9m ▲133%
After 4 profitable years in a row, equity reaches €26.9m.
13-11
Gazette deed
8 directors appointed, 6 directors resigningAppointments: Jean-François Corbisier, Valérie Maes and 6 others · Resignations: Perrin Dominique, De Weyer Dimitri and 4 others12 points ▸
Gazette deed
8 directors appointed, 6 directors resigning
Appointments: Jean-François Corbisier, Valérie Maes and 6 others · Resignations: Perrin Dominique, De Weyer Dimitri and 4 others12 points ▸
- General meeting, 03-06-2025
- Board meeting, 04-07-2025
- Director appointment, Jean-François Corbisier
- Director appointment, Valérie Maes
- Director appointment, Emilie De Decker
- Director appointment, Vincent Moyse
- Director appointment, Vèronique Graff
- Director appointment, Déborah Depauw
- Director appointment, Bruno Vandezande
- Director appointment, Damien Wathelet
- Director resignation, Perrin Dominique
- Director resignation, De Weyer Dimitri
- The deed holds 4 more points.
22-07
Gazette deed
Resignation: Jean-Paul BASTIN (director)1 point ▸
Gazette deed
Resignation: Jean-Paul BASTIN (director)
1 point ▸
- Director resignation, Jean-Paul BASTIN
01-07
full format · 30 days before the deadline
22-01
Gazette deed
Resignations & appointmentsDirector in office: VEREECKE (member of the executive committee) · Director in office: Dominique PERRIN · Director in office: Clément SIMON4 points ▸
Gazette deed
Resignations & appointments
Director in office: VEREECKE (member of the executive committee) · Director in office: Dominique PERRIN · Director in office: Clément SIMON4 points ▸
- Registered office clause, Avenue Maurice Destenay 13 4000 Liège
- Director in office, VEREECKE (member of the executive committee)
- Director in office, Dominique PERRIN
- Director in office, Clément SIMON
- The deed holds 2 more points.
2024
31-12
Financial
Liquidity more than doubledcurrent ratio 2.82
The current ratio rises from 1.31 to 2.82.
31-12
Financial
Equity above €10mequity €11.5m ▲767%
After 3 profitable years in a row, equity reaches €11.5m.
05-11
Gazette deed
Appointments: Clément SIMON, Dominique PERRIN and 2 others12 points ▸
Gazette deed
Appointments: Clément SIMON, Dominique PERRIN and 2 others
12 points ▸
- Board meeting, 20-10-2023
- Board composition, Philippe GILSON (director)
- Board composition, Emilie JENNES (director)
- Board composition, Jean-Paul BASTIN (director)
- Board composition, Véronique GRAFF (director)
- Board composition, Dimitri DE WEYER (director)
- Board composition, Dominique PERRIN (director)
- Board composition, Clément SIMON (director)
- Board composition, Valérie MAES (director)
- Director appointment, Clément SIMON (chair)
- Director appointment, Dominique PERRIN (vice-chair)
- Director appointment, Anne VEREECKE (member of the executive committee)
- The deed holds 2 more points.
02-10
Gazette deed
Resignations & appointmentsBoard meeting of 20-10-20231 point ▸
Gazette deed
Resignations & appointments
Board meeting of 20-10-20231 point ▸
- Board meeting, 20-10-2023
25-09
Gazette deed
Capital increase of €33,762,386.96 to €34,762,386.96Capital from €1,000,000 to €34,762,386.96, 25,520 new shares · REGION WALLONNE holds 510 shares · WALLONIE ENTREPRENDRE holds 490 shares8 points ▸
Gazette deed
Capital increase of €33,762,386.96 to €34,762,386.96
Capital from €1,000,000 to €34,762,386.96, 25,520 new shares · REGION WALLONNE holds 510 shares · WALLONIE ENTREPRENDRE holds 490 shares8 points ▸
- General meeting, 16-02-2024
- REGION WALLONNE holds 510 shares
- WALLONIE ENTREPRENDRE holds 490 shares
- Power of attorney, Dimitri DE WEYER
- Power of attorney, Pierre-François LEFEBVRE
- Capital increase, €33,762,386.96
- Capital, €34,762,386.96, 26,520 shares
- Amendment of the articles, article 5
- The deed holds 7 more points.
Show earlier events
04-07
full format · 27 days before the deadline
2023
31-12
Financial
Weakest financial yearnet €2,446 ▼54.2%
The net result drops to €2,446, the lowest from 2018 to 2025. It recovers the following year.
06-11
Gazette deed
Purpose change · Amendment of the articles · Resignations & appointmentsAppointments: BASTIN Jean-Paul David, GILSON Philippe Marc Julien Victor and 6 others · “Le financement sous toutes formes, des investissements ou autres besoins de tous tiers en vue de contribuer à…” (deed in French)12 points ▸
Gazette deed
Purpose change · Amendment of the articles · Resignations & appointments
Appointments: BASTIN Jean-Paul David, GILSON Philippe Marc Julien Victor and 6 others · “Le financement sous toutes formes, des investissements ou autres besoins de tous tiers en vue de contribuer à…” (deed in French)12 points ▸
- General meeting, 05-10-2023
- Incorporation, 29-01-1979
- Capital, €1,000,000, 1,000 shares, mentioned twice in the deed
- Purpose change, “Le financement sous toutes formes, des investissements ou autres besoins de tous tiers en vue de contribuer à leur transition climatique, énergétique…” (deed in French)
- Amendment of the articles, article 1
- Amendment of the articles, article 2
- Amendment of the articles, article 6
- Amendment of the articles, article 7
- Amendment of the articles, article 8
- Amendment of the articles, article 10
- Amendment of the articles, article 12
- Amendment of the articles, article 13
- The deed holds 35 more points.
11-08
Gazette deed
3 directors appointed, 1 statutory auditor appointed, 3 directors resigningResignations: Caroline Louon, Pauline Gobin and Jean-Denis GHYSENS · Appointments: Dimitri De Weyer, Libra Audit & Assurance and 2 others8 points ▸
Gazette deed
3 directors appointed, 1 statutory auditor appointed, 3 directors resigning
Resignations: Caroline Louon, Pauline Gobin and Jean-Denis GHYSENS · Appointments: Dimitri De Weyer, Libra Audit & Assurance and 2 others8 points ▸
- General meeting, 22-05-2023
- Director resignation, Caroline Louon
- Director appointment, Dimitri De Weyer
- Director resignation, Pauline Gobin
- Auditor appointment, Libra Audit & Assurance (statutory auditor)
- Director resignation, Jean-Denis GHYSENS
- Director appointment, Valérie MAES
- Director appointment, Clément SIMON
- The deed holds 1 more point.
22-06
full format · 39 days before the deadline
27-03
Gazette deed
Resignation: Olivier Vanderijst (member of the executive committee)Appointment: Anne Vereecke (member of the executive committee)3 points ▸
Gazette deed
Resignation: Olivier Vanderijst (member of the executive committee)
Appointment: Anne Vereecke (member of the executive committee)3 points ▸
- Board meeting, 23-12-2022
- Director resignation, Olivier Vanderijst (member of the executive committee)
- Director appointment, Anne Vereecke (member of the executive committee)
06-01
Gazette deed
Resignations & appointmentsBoard meeting of 23-09-20221 point ▸
Gazette deed
Resignations & appointments
Board meeting of 23-09-20221 point ▸
- Board meeting, 23-09-2022
- The deed holds 5 more points.
2022
14-06
full format · 47 days before the deadline
30-03
Gazette deed
2 directors appointed, 1 director resigningResignation: Sylviane BILGISHER (director) · Appointments: Caroline LOUON (director) and Pauline GOBIN (director)5 points ▸
Gazette deed
2 directors appointed, 1 director resigning
Resignation: Sylviane BILGISHER (director) · Appointments: Caroline LOUON (director) and Pauline GOBIN (director)5 points ▸
- Board meeting, 16-07-2021
- Director resignation, Sylviane BILGISHER
- Board meeting, 03-12-2021
- Director appointment, Caroline LOUON
- Director appointment, Pauline GOBIN
2021
22-09
Gazette deed
Resignation: Cerise HARDY (director)2 points ▸
Gazette deed
Resignation: Cerise HARDY (director)
2 points ▸
- Director resignation, Cerise HARDY
- General meeting, 28 05 2021
- The deed holds 4 more points.
14-07
Gazette deed
Appointment: Dominique Perrin (director)Resignation: Yves Marenne (director)4 points ▸
Gazette deed
Appointment: Dominique Perrin (director)
Resignation: Yves Marenne (director)4 points ▸
- General meeting, 06-05-2021
- Director appointment, Dominique Perrin
- Board meeting, 21-02-2020
- Director resignation, Yves Marenne
23-06
full format · 38 days before the deadline
29-01
Gazette deed
Resignation: F. Turck (member of the executive committee)Appointment: D. Lourtie (member of the executive committee)3 points ▸
Gazette deed
Resignation: F. Turck (member of the executive committee)
Appointment: D. Lourtie (member of the executive committee)3 points ▸
- Board meeting, 18-09-2020
- Director resignation, F. Turck (member of the executive committee)
- Director appointment, D. Lourtie (member of the executive committee)
2020
07-09
Gazette deed
Appointment: 3R, Leboutte & Co (statutory auditor)2 points ▸
Gazette deed
Appointment: 3R, Leboutte & Co (statutory auditor)
2 points ▸
- General meeting, 07-05-2020
- Auditor appointment, 3R, Leboutte & Co
26-05
full format · 66 days before the deadline
16-03
Gazette deed
5 directors appointed, 5 directors resigningResignations: Clément Pouiain, Nathalie Leboeuf and 3 others · Appointments: Yves Marenne, Sylviane Bilgischer and 3 others · Mandate compensation: B.E.FIN12 points ▸
Gazette deed
5 directors appointed, 5 directors resigning
Resignations: Clément Pouiain, Nathalie Leboeuf and 3 others · Appointments: Yves Marenne, Sylviane Bilgischer and 3 others · Mandate compensation: B.E.FIN12 points ▸
- General meeting, 29-11-2019
- Director resignation, Clément Pouiain
- Director resignation, Nathalie Leboeuf
- Director resignation, Jean-Paul Gofffart
- Director resignation, Jean-Denis Ghysens
- Director resignation, Cerise Hardy
- Director appointment, Yves Marenne
- Director appointment, Sylviane Bilgischer
- Director appointment, Didier Hellin
- Director appointment, Jean-Denis Ghysens
- Director appointment, Cerise Hardy
- Mandate compensation, B.E.FIN
- The deed holds 1 more point.
2019
05-11
Gazette deed
Appointments: Olivier BOUCHAT, Francine TURCK and 2 others6 points ▸
Gazette deed
Appointments: Olivier BOUCHAT, Francine TURCK and 2 others
6 points ▸
- Board meeting, 23-05-2019
- Director appointment, Olivier BOUCHAT (member of the executive committee)
- Director appointment, Francine TURCK (member of the executive committee)
- Director appointment, Karl ADAMS (member of the executive committee)
- Director appointment, Olivier VANDERIJST (member of the executive committee)
- Director appointment, Olivier BOUCHAT (chair of the executive committee)
27-05
Gazette deed
Amendment of the articles“La société a pour objet: a)l'acquisition et la gestion de participations pour son compte propre ou pour le…” (deed in French) · Région Wallonne is a shareholder · S.R.I.W. Environnement is a shareholder6 points ▸
Gazette deed
Amendment of the articles
“La société a pour objet: a)l'acquisition et la gestion de participations pour son compte propre ou pour le…” (deed in French) · Région Wallonne is a shareholder · S.R.I.W. Environnement is a shareholder6 points ▸
- General meeting, 02-05-2019
- Purpose change, “La société a pour objet: a)l'acquisition et la gestion de participations pour son compte propre ou pour le compte d'autrui, dans toutes sociétés, en Belgique co…” (deed in French)
- Capital, €1,000,000, 1,000 shares
- Power of attorney, Deux administrateurs
- Région Wallonne is a shareholder
- S.R.I.W. Environnement is a shareholder
- The deed holds 1 more point.
27-05
full format · 65 days before the deadline
2018
02-05
Gazette deed
Appointments: Clément Poulain, Karl Adams and 2 others6 points ▸
Gazette deed
Appointments: Clément Poulain, Karl Adams and 2 others
6 points ▸
- Board meeting, 27-03-2018
- Director appointment, Clément Poulain (chair)
- Director appointment, Karl Adams (member of the executive committee)
- Director appointment, Olivier Vanderijst (member of the executive committee)
- Director appointment, Francine Turck (member of the executive committee)
- Director appointment, Karl Adams (chair of the executive committee)
26-04
full format · 96 days before the deadline
24-04
Gazette deed
5 directors appointed, 4 directors resigningResignations: Olivier VANDERIJST, Karl ADAMS and 2 others · Appointments: Cerise HARDY, Nathalie LEBOEUF and 3 others · “La société a pour objet: a) l'acquisition et la gestion de participations pour son compte propre ou pour le…” (deed in French)11 points ▸
Gazette deed
5 directors appointed, 4 directors resigning
Resignations: Olivier VANDERIJST, Karl ADAMS and 2 others · Appointments: Cerise HARDY, Nathalie LEBOEUF and 3 others · “La société a pour objet: a) l'acquisition et la gestion de participations pour son compte propre ou pour le…” (deed in French)11 points ▸
- General meeting, 27-03-2018
- Purpose change, “La société a pour objet: a) l'acquisition et la gestion de participations pour son compte propre ou pour le compte d'autrui, dans toutes sociétés, en Belgique c…” (deed in French)
- Director resignation, Olivier VANDERIJST
- Director resignation, Karl ADAMS
- Director resignation, Sébastien DURIEUX
- Director resignation, Claude GREGOIRE
- Director appointment, Cerise HARDY
- Director appointment, Nathalie LEBOEUF
- Director appointment, Clément POULAIN
- Director appointment, Jean-Denis GHYSENS
- Director appointment, Jean-Paul GOFFART
- The deed holds 2 more points.
11-04
Gazette deed
Appointments: Karl ADAMS (chair) and Karine FABRY (secretary)Capital increase of €643,916.01 · Capital decrease of €9,718,916.01 · Capital increase of €916,0009 points ▸
Gazette deed
Appointments: Karl ADAMS (chair) and Karine FABRY (secretary)
Capital increase of €643,916.01 · Capital decrease of €9,718,916.01 · Capital increase of €916,0009 points ▸
- General meeting, 12-03-2018
- Director appointment, Karl ADAMS (chair)
- Director appointment, Karine FABRY (secretary)
- Capital increase, €643,916.01
- Capital decrease, €9,718,916.01
- Capital increase, €916,000
- Capital decrease, €916,000
- Capital, €1,000,000, 42,932,459 shares
- Power of attorney, B.E.FIN
- The deed holds 1 more point.
2017
26-06
Gazette deed
1 director appointed, 1 statutory auditor appointed, 4 directors reappointedAppointments: K. ADAMS (member of the executive committee) and SAINTENOY, COMHAIRE & Co. (statutory auditor) · Reappointments: Olivier Vanderijst, Sébastien Durieux and 2 others · Mandate compensation: Olivier Vanderijst11 points ▸
Gazette deed
1 director appointed, 1 statutory auditor appointed, 4 directors reappointed
Appointments: K. ADAMS (member of the executive committee) and SAINTENOY, COMHAIRE & Co. (statutory auditor) · Reappointments: Olivier Vanderijst, Sébastien Durieux and 2 others · Mandate compensation: Olivier Vanderijst11 points ▸
- Board meeting, 10-04-2017
- Director appointment, K. ADAMS (member of the executive committee)
- Director reappointment, Olivier Vanderijst (chair)
- Director reappointment, Sébastien Durieux
- Director reappointment, Karl Adams
- Director reappointment, Claude Grégoire
- Mandate compensation, Olivier Vanderijst
- Auditor appointment, SAINTENOY, COMHAIRE & Co.
- Mandate compensation, Sébastien Durieux
- Mandate compensation, Karl Adams
- Mandate compensation, Claude Grégoire
- The deed holds 1 more point.
18-05
full format · 74 days before the deadline
08-05
Gazette deed
Resignation: Jean Sequaris (director and member of the executive committee)1 point ▸
Gazette deed
Resignation: Jean Sequaris (director and member of the executive committee)
1 point ▸
- Director resignation, Jean Sequaris (director and member of the executive committee)
2014
25-06
Gazette deed
1 statutory auditor appointed, 1 director appointed, 1 statutory auditor resigningResignation: B.E. Fin (statutory auditor) · Appointments: SPRL VPC (statutory auditor) and Karl Adams (director)4 points ▸
Gazette deed
1 statutory auditor appointed, 1 director appointed, 1 statutory auditor resigning
Resignation: B.E. Fin (statutory auditor) · Appointments: SPRL VPC (statutory auditor) and Karl Adams (director)4 points ▸
- General meeting, 20-05-2014
- Auditor resignation, B.E. Fin
- Auditor appointment, SPRL VPC (statutory auditor)
- Director appointment, Karl Adams
2011
29-07
Gazette deed
1 statutory auditor appointed, 2 directors appointed, 1 statutory auditor resigning, 1 director resigning, 4 directors reappointedReappointments: Sébastien DURIEUX, Jean SEQUARIS and 2 others · Resignations: ScPRL DELBROUCK, CAMMARATA, GILLES et Associés (statutory auditor) and Michel DELACOLLETTE (managing director) · Appointments: ScPRL SAINTENOY, COMHAIRE & Co, Jean SEQUARIS and Olivier VANDERIJST10 points ▸
Gazette deed
1 statutory auditor appointed, 2 directors appointed, 1 statutory auditor resigning, 1 director resigning, 4 directors reappointed
Reappointments: Sébastien DURIEUX, Jean SEQUARIS and 2 others · Resignations: ScPRL DELBROUCK, CAMMARATA, GILLES et Associés (statutory auditor) and Michel DELACOLLETTE (managing director) · Appointments: ScPRL SAINTENOY, COMHAIRE & Co, Jean SEQUARIS and Olivier VANDERIJST10 points ▸
- General meeting, 29-06-2011
- Director reappointment, Sébastien DURIEUX
- Director reappointment, Jean SEQUARIS
- Director reappointment, Claude GREGOIRE
- Director reappointment, Olivier VANDERIJST
- Auditor resignation, ScPRL DELBROUCK, CAMMARATA, GILLES et Associés (statutory auditor)
- Auditor appointment, ScPRL SAINTENOY, COMHAIRE & Co (statutory auditor)
- Director resignation, Michel DELACOLLETTE (managing director)
- Director appointment, Jean SEQUARIS (member of the executive committee)
- Director appointment, Olivier VANDERIJST (chair of the executive committee)
2010
14-07
Gazette deed
Resignation: Michel SAVONET (chair of the board)Appointment: Olivier VANDERIJST (chair of the executive committee)3 points ▸
Gazette deed
Resignation: Michel SAVONET (chair of the board)
Appointment: Olivier VANDERIJST (chair of the executive committee)3 points ▸
- Board meeting, 14-01-2010
- Director resignation, Michel SAVONET (chair of the board)
- Director appointment, Olivier VANDERIJST (chair of the executive committee)
29-06
Gazette deed
Appointment: ScPRL DELBROUCK, CAMMARATA, GILLES et Associés, Réviseurs d'entreprises (statutory auditor)Resignation: S.C. SPRL ANDRE FRANCOIS (statutory auditor)3 points ▸
Gazette deed
Appointment: ScPRL DELBROUCK, CAMMARATA, GILLES et Associés, Réviseurs d'entreprises (statutory auditor)
Resignation: S.C. SPRL ANDRE FRANCOIS (statutory auditor)3 points ▸
- General meeting, 06-05-2010
- Auditor appointment, ScPRL DELBROUCK, CAMMARATA, GILLES et Associés, Réviseurs d'entreprises (statutory auditor)
- Auditor resignation, S.C. SPRL ANDRE FRANCOIS (statutory auditor)
25-01
Gazette deed
Resignation: Jean-Pascal LABILLE (director and member of the executive committee)4 points ▸
Gazette deed
Resignation: Jean-Pascal LABILLE (director and member of the executive committee)
4 points ▸
- General meeting, 17-12-2009
- Director resignation, Jean-Pascal LABILLE (director and member of the executive committee)
- Board composition, Michel DELACOLLETTE (member)
- Board composition, Michel SAVONET (chair)
2008
24-11
Gazette deed
2 directors appointedAppointments: S.A. SPARAXIS (director) and Philippe BUELEN (director) · Permanent representative: Jean-Pascal LABILLE4 points ▸
Gazette deed
2 directors appointed
Appointments: S.A. SPARAXIS (director) and Philippe BUELEN (director) · Permanent representative: Jean-Pascal LABILLE4 points ▸
- General meeting, 13-10-2008
- Director appointment, S.A. SPARAXIS
- Permanent representative, Jean-Pascal LABILLE
- Director appointment, Philippe BUELEN
04-09
Gazette deed
Company renamed from TECHWASTE to B.E. Fin2 points ▸
Gazette deed
Company renamed from TECHWASTE to B.E. Fin
2 points ▸
- General meeting, 16-07-2008
- Name change, B.E. Fin
- The deed holds 1 more point.
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
B.E. Fin was incorporated on 29 January 1979.1 Since 2008 the company has been called B.E. Fin.2 Between 2018 and 2026 the capital was increased 3 times, most recently to €54.8m.345 The board currently has 9 members, 2 of whom have served since 2023.6 Total assets rose from €3.0m in 2018 to €31.4m in 2025 and headcount from 1.9 to 16.4 full-time equivalents.7
Company details
Register details
Identity
KBO recordName
B.E. Fin in French
Former name
TECHWASTE until the deed of 04-09-2008
Enterprise number
0419.202.029
LEI code
549300W2V0JY71RMHN52
live in the LEI register
Legal form
Public limited company
Status
Active, normal situation
Founded
29-01-1979
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 06-11-2023 (in French)Registered office and establishments
Registered office
Avenue Maurice-Destenay 13, 4000 Liège, Belgium
Establishment unit
Avenue Maurice-Destenay 13, 4000 Liège since 08-02-2000 · unit number 2.015.891.513
Activities
NACEBEL 2025VAT activities
64210
Activities of holding companies main activity
82100
Office administrative and support services
Social security (RSZ) activities
64210
Activities of holding companies main activity
Codes under NACEBEL 2008
64200
Holdings main activity
82110
Office administrative, office support and other business support activities
Codes under NACEBEL 2003
74151
main activity
74855
Joint committee
200 Auxiliary committee for white-collar workers annual accounts 2025
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 06-11-2023 (in French)
“A) Le financement sous toutes formes, des investissements ou autres besoins de tous tiers en vue de contribuer à leur transition climatique…”
5 activities
- A) Le financement sous toutes formes, des investissements ou autres besoins de tous tiers en vue de contribuer à leur transition climatique, énergétique, environnementale et circulaire;
- B) L'exercice au profit de tous tiers de toutes activités de prestation de services notamment en matière administrative, juridique, technique et financière.
- Elle pourra intervenir comme centrale d'achat au sens donné à ce terme par la loi relative aux marchés publics.
- La Société pourra réaliser son objet en Belgique comme à l'étranger, en fonds propres ou en exécution de toute mission qui lui serait confiée par une autorité publique, notamment par décret ou arrêté du Gouvernement wallon.
- D'une façon générale la Société peut s'intéresser par toutes voies dans toutes affaires ou entreprises et accomplir pour compte propre ou pour compte de tiers tous les actes ou opérations nécessaires et utiles ou de nature à favoriser, directement ou indirectement, la réalisation de son objet social.
Invoicing and payment
VAT number
BE 0419.202.029
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Tuesday of June
deed of 06-11-2023 (in French)Sites & property
Location
Buildings and parcels at the address
Ground area
2,811 m²
Building footprint
1,999 m²
Building volume
68,083 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62803A1368/00V000 | Wallonia | 2,811 m² | 1 · 1,999 m² | 43.0 m · 12 |