BELWING
Group
SOCIETE REGIONALE D'INVESTISSEMENT DE WALLONIE has 100 holdings in 3 countries (2022 accounts)Belgium 98 Year Equity Result
- BE BELWING80% 2025€61,500 result €0 (2025)
- BE ETHIAS31.67% 2020€1.46bn result €202.9m (2020)
- BE SAFRAN AERO BOOSTERS31.03% 2025€1.23bn result €321.8m (2025)
- BE HERSTAL 2025€501.3m result €180.5m (2025)
- BE SONACA85.25% 2025€411.4m result €51.3m (2025)
- BE PRAYON45.95% 2025€202.2m result -€14.9m (2025)
- BE SRIW ENVIRONNEMENT80% 2025€157.4m result €11.5m (2025)
- BE SOFINEX20% 2025€91.8m result €3.2m (2025)
- BE I-CARE HOLDING10.47% 2024€69.2m result -€196,869 (2024)
- BE AEROSPACELAB12.68% 2025€61.5m result -€17.5m (2025)
- BE BECOVER50% 2025€54.2m result €401,284 (2025)
- BE CE+T GROUP12.5% 2025€45.8m result €359,529 (2025)
- BE SAFRAN BLADES22% 2025€44.3m result -€14.0m (2025)
- BE AMERGIGO12.5% 2025€42.5m result €1.9m (2025)
- BE ASEPTIC TECHNOLOGIES20% 2025€42.3m result €5.5m (2025)
- BE BETONELEC31.58% 2025€41.7m result €2.9m (2025)
- BE EURVEST24.99% 2025€39.3m result €3.9m (2025)
- BE LSP 6 PRIVAK20.54% 2025€35.8m result -€1.7m (2025)
- BE BARTHEL PAULS14.36% 2025€32.8m result €2.7m (2025)
- BE B.C. MYLLE19.25% 2024€32.0m result €46,863 (2024)
- BE LASEA14.19% 2025€30.5m result -€3.2m (2025)
- BE LOCK'IMMO11.3% 2025€29.8m result €496,560 (2025)
- BE NEW LACHAUSSEE20% 2025€28.6m result €1.8m (2025)
- BE QUALITY ASSISTANCE11.82% 2025€28.4m result -€388,974 (2025)
- BE A.M.B. SA10.01% 2025€27.3m result -€465,140 (2025)
- BE UPIGNAC13.02% 2025€24.4m result -€7.0m (2025)
- BE IPEX19.52% 2025€23.1m result €401,498 (2025)
- BE W.ALTER50.5% 2025€21.0m result €521,730 (2025)
- BE AUTOMATION ET ROBOTICS25% 2025€20.3m result -€158,229 (2025)
- BE SOCIETE DE FINANCEMENT DES EAUX50.01% 2025€19.0m result €146,535 (2025)
- BE GREENCAP13.61% 2025€17.9m result €1.1m (2025)
- BE KITOZYME18.48% 2025€17.2m result €824,661 (2025)
- BE INDUSTRYA FUND5.95% 2025€16.4m result -€1.6m (2025)
- BE PMSWEET10% 2025€16.0m result €2.6m (2025)
- BE CAPRICORN HEALTH TECH FUND11.89%no longer active 2025€15.4m result -€8.4m (2025)
- BE IDDI GROUP12.32% 2025€14.8m result €48.3m (2025)
- BE LIBEERT12.5% 2025€14.6m result €4.1m (2025)
- BE WALLONIA OFFSHORE WIND0.01% 2025€13.5m result €2.6m (2025)
- BE ESOBIOTEC13.16% 2025€12.4m result €7.7m (2025)
- BE DALCQ12.26% 2025€12.1m result €2.0m (2025)
- BE ICARUS GROUP32.6% 2025€11.3m result -€525,781 (2025)
- BE ISOMATEX11% 2025€11.1m result -€2.8m (2025)
- BE MACH613.33% 2025€11.1m result €1.0m (2025)
- BE LA MALTERIE DU CHATEAU23.59% 2025€10.2m result -€2.1m (2025)
- BE INTOPIX16.9% 2026€10.2m result €1.7m (2026)
- BE AB HOLDING14.4%open bankruptcy 2023€9.9m result -€116,673 (2023)
- BE EPICS THERAPEUTICS14.79% 2025€9.1m result -€5.8m (2025)
- BE KIOMED PHARMA11.72% 2025€9.0m result €2.2m (2025)
- BE SPACEBEL35.56% 2025€8.8m result €179,589 (2025)
- BE GAUDER & Co37.61% 2025€8.5m result €3.4m (2025)
- BE GROUPE MECA33.33% 2025€8.4m result €673,576 (2025)
- BE CLUEPOINTS10.62% 2025€8.1m result €3.6m (2025)
- BE ARCHIMEDES 2110% 2025€6.6m result €1.4m (2025)
- BE THE FAKTORY FUND12.73% 2025€6.1m result -€1.3m (2025)
- BE DE SMET SA ENGENEERING & CONTRACTORS14.54% 2025€5.5m result €646,566 (2025)
- BE LIEGE EXPO12.89%no longer active 2025€5.2m result €224,199 (2025)
- BE WALLONIE MATERIAUX13.33% 2025€4.7m result €1.2m (2025)
- BE ADVANCED MECHANICAL AND OPTICAL SYSTEMS37.43% 2025€4.5m result €559,794 (2025)
- BE QUALIFIO12.74% 2025€4.2m result €20,340 (2025)
- BE PUPS AND PETS11.11% 2025€3.9m result €1.1m (2025)
- BE EURA NOVA17.98% 2025€3.7m result €520,172 (2025)
- BE SYNERGIES WALLONIE33.33%no longer active 2023€3.4m result €22,337 (2023)
- BE H² GLASS20.62%no longer active 2023€3.1m result -€1.8m (2023)
- BE BODYMAT PATRIMONIAL14.4% 2025€3.0m result €28,140 (2025)
- BE SEE TELECOM SRL33.33%open bankruptcy 2024€3.0m result €115,277 (2024)
- BE CILYX GROUP10% 2025€2.8m result €33,047 (2025)
- BE CULLEN INTERNATIONAL10.07% 2025€2.5m result €28,582 (2025)
- BE DECUBE16.62% 2025€2.4m result €90,816 (2025)
- BE PLAST4LIFE25.88%no longer active 2024€1.9m result -€119,874 (2024)
- BE NANOCYL16.54% 2026€1.9m result -€317,964 (2026)
- BE WISHBONE11.46% 2025€1.8m result -€1.2m (2025)
- BE THERAtRAME12.59% 2025€1.8m result -€2.1m (2025)
- BE IONICS16.57% 2025€1.7m result -€1.4m (2025)
- BE JD'C INNOVATION24.85% 2025€1.7m result €323,587 (2025)
- BE SPARAXIS 2025€1.4m result €194,759 (2025)
- BE ANY-SHAPE20% 2025€1.3m result €128,700 (2025)
- BE EURO HEAT PIPES32.33% 2025€962,421 result €457,288 (2025)
- BE SPEAKY INTERNATIONAL17.14% 2024€863,137 result €1,795 (2024)
- BE SAMANDAno longer active 2024€556,657 result €50,379 (2024)
- BE SOCIETE D'INVESTISSEMENT AGRICOLE WALLONNE90%no longer active 2024€460,613 result -€162,151 (2024)
- BE SOFRIWAL 2025€320,521 result €3,060 (2025)
- BE SMDI50.08% 2025€289,148 result -€40,650 (2025)
- BE SOWAFINALno longer active 2022€266,632 result €17,800 (2022)
- BE FONCIERE LOISIRS VIELSAM44.65% 2025€220,019 result €499,821 (2025)
- BE GELIGARno longer active 2021€169,018 result - (2021)
- BE TESSARES17.05%no longer active 2026€4,802 result -€153 (2026)
- BE WHATEVER10.69% 2025-€118,168 result €20,357 (2025)
- BE SOFIPOLE60%no longer active 2025-€221,883 result €5.8m (2025)
- BE HAPPY PAPER15.74%open bankruptcy 2023-€248,260 result €1.2m (2023)
- BE GO4PLANT24.6%no longer active 2024-€339,114 result -€6,849 (2024)
- BE ALTISSIA INTERNATIONAL17.14% 2024-€878,064 result -€1.4m (2024)
- BE DELTRIAN PROTECTIVE EQUIPMENT24.48%no longer active 2024-€941,013 result €3,108 (2024)
- BE INVINEO13.61%open bankruptcy 2023-€1.2m result -€6.8m (2023)
- BE NOUKIES20%open bankruptcy 2024-€1.7m result -€1.8m (2024)
- BE PROXISTORE SA13.04% 2024-€2.1m result -€2.6m (2024)
- BE URBANOVE SHOPPING DEVELOPMENT14.37% 2025-€3.0m result €344,812 (2025)
- BE THE AKKERMANSIA COMPANY11.47% 2025-€3.4m result -€9.4m (2025)
- BE AIR BELGIUM11.69%open bankruptcy 2023-€68.5m result -€27.5m (2023)
Europe 2 Year Equity Result
- LU SOLAR WORLD INVEST FUND10.78% 2020€25.7m result €1.9m (2020)
- FR MORET INDUSTRIES GROUP12.59% 2019€17.4m result -€4.0m (2019)
Source: list of holdings in the 2022 accounts of SOCIETE REGIONALE D'INVESTISSEMENT DE WALLONIE. Holdings that file themselves stand with their latest accounts, the others with the amounts of that list, in their own currency.
Part of the group Wallonie Entreprendre Group, risk and exposureAt the same address
Avenue Maurice Destenay 13, 4000 Liège · 44 other companies| Wallonie Entreprendre
registered office since 01-01-2023 · founded in 2022 |
total assets €5.36bn (2025) 0793.630.244 |
| SOCOFE
registered office since 27-06-2000 · founded in 2000 |
total assets €908.6m (2025) 0472.085.439 |
| SPAQuE
registered office since 07-02-1995 · founded in 1991 |
84 FTE (2025) 0243.929.462 |
| NOVALLIA
registered office since 02-06-2009 · founded in 2009 |
total assets €228.7m (2025) 0812.008.774 |
| WE Environnement
registered office since 27-01-1994 · founded in 1984 · group Wallonie Entreprendre |
total assets €216.5m (2025) 0426.516.918 |
| SOCIETE DE GESTION DU FRI DE LA REGION WALLONNE
registered office since 27-02-1990 · founded in 1990 · group Wallonie Entreprendre |
total assets €185.2m (2025) 0240.365.703 |
| WALLONIE SANTE FINANCES
registered office since 01-01-2019 · founded in 2018 · group SOCIETE WALLONNE DE GESTION ET DE PARTICIPATIONS, EN ABREGE : SOGEPA |
total assets €178.5m (2025) 0705.942.145 |
| WALLONIE ENTREPRENDRE INTERNATIONAL
registered office since 23-09-2003 · founded in 2003 · group Wallonie Entreprendre |
total assets €157.9m (2025) 0860.662.588 |
| ARCEO
registered office since 10-06-2004 · founded in 2004 · group ARCELORMITTAL HOLDING AND SERVICES BELGIUM |
total assets €144.1m (2025) 0865.732.522 |
| ESPACE FINANCEMENT
registered office since 12-06-2014 · founded in 2014 |
total assets €131.4m (2025) 0553.753.006 |
Earlier ties
| PHARMACIE DU PRINCE D'ORANGE via Régis Lanove, at BELWING until 2024 · Director · deed of 27-03-2026 founded in 2009 · negative equity (2025) |
total assets €169,110 (2025) |
| L'Economie Populaire via Régis Lanove, at BELWING until 2024 · Director · deed of 30-06-2022 founded in 1919 · group BELFIUS BANK |
631 FTE (2025) |
| CAPLINE via Régis Lanove, at BELWING until 2024 · Day-to-day manager · deed of 02-12-2020 founded in 1974 · group BELFIUS BANK |
total assets €118.4m (2025) |
| INTERFINANCE via Régis Lanove, at BELWING until 2024 · Director · deed of 28-12-2020 founded in 1992 · group BELFIUS BANK |
total assets €12.1m (2025) |
| Etablissements Winandy via Régis Lanove, at BELWING until 2024 · Director · deed of 30-10-2025 founded in 1919 · group BELFIUS BANK |
total assets €3.7m (2025) |
| PHARMA GUILLAUME via Régis Lanove, at BELWING until 2024 · Director · deed of 05-08-2026 founded in 2016 |
2.6 FTE (2025) |
Show 8 more earlier ties
| Pharmacie de la Semois via Régis Lanove, at BELWING until 2024 · Director · deed of 28-01-2026 founded in 1987 |
3.7 FTE (2025) |
| PHARMACIE DU PETIT RY via Régis Lanove, at BELWING until 2024 · Director · deed of 02-01-2026 founded in 2012 · group BELFIUS BANK |
total assets €186,402 (2026) |
| PHARMACIE DU XII via Régis Lanove, at BELWING until 2024 · Managing director · deed of 20-07-2026 No longer active · founded in 2016 · group BELFIUS BANK |
total assets €491,017 (2025) |
| Pharmacie Coppe via Régis Lanove, at BELWING until 2024 · Director · deed of 15-10-2025 No longer active · founded in 2010 · group BELFIUS BANK |
total assets €415,420 (2025) |
| PHARMACIE SANTIS DES CORETTES via Régis Lanove, at BELWING until 2024 · Director · deed of 16-07-2025 No longer active · founded in 1996 · group BELFIUS BANK |
2.6 FTE (2025) |
| SANTIS MARKET via Régis Lanove, at BELWING until 2024 · Director · deed of 16-07-2025 No longer active · founded in 2020 · group BELFIUS BANK |
2 FTE (2025) |
| Pharmacie Pirot-Grosjean via Régis Lanove, at BELWING until 2024 · Director · deed of 04-02-2025 No longer active · founded in 2010 · group BELFIUS BANK |
total assets €205,865 (2025) |
| PHARMACIE DU MOULIN via Régis Lanove, at BELWING until 2024 · Director · deed of 31-03-2025 No longer active · founded in 2001 · group BELFIUS BANK |
total assets €204,789 (2025) |
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