EQUANS Services (0402.947.797): financials and annual accounts

EQUANS Services

Saint-Josse-ten-Noode ·KBO/BCE: BE 0402.947.797

Line	2025	2024	2023	2022	2021	2020	2019	2018
Balance sheet: assets
Total assets`20/58`	250.1m	237.3m	217.7m	416.1m	410.5m	647.1m	632.5m	619.3m
Fixed assets`21/28`	8.7m	11.6m	14.2m	20.0m	21.8m	445.3m	445.1m	441.9m
Intangible fixed assets`21`	2.4m	4.4m	6.4m	8.0m	3.0m	4.0m	3.1m	2.3m
Tangible fixed assets`22/27`	1.2m	2.0m	2.5m	3.3m	1.4m	1.8m	2.2m	1.6m
Land and buildings`22`	723,261	1.4m	1.5m	1.1m	-	-	-	-
Plant, machinery and equipment`23`	280,421	209,410	489,662	842,779	953,592	1.3m	1.7m	1.5m
Furniture and vehicles`24`	209,188	381,635	586,292	818,783	4,327	7,421	76,844	164,939
Other tangible fixed assets`26`	-	-	639	1,494	2,348	-	-	-
Assets under construction and advance payments`27`	-	13,477	3,818	580,689	462,636	453,812	365,509	-
Financial fixed assets`28`	5.1m	5.2m	5.2m	8.7m	17.4m	439.6m	439.8m	437.9m
Affiliated companies`280/1`	5.1m	5.1m	5.1m	8.6m	17.1m	437.4m	437.6m	435.7m
Participating interests`280`	5.1m	5.1m	5.1m	8.6m	17.1m	437.4m	437.6m	435.7m
Companies linked by participating interests`282/3`	-	100	100	100	272,880	2.1m	2.1m	2.2m
Participating interests`282`	-	100	100	100	272,880	2.1m	2.1m	2.2m
Other financial fixed assets`284/8`	1,250	56,115	73,339	73,339	56,165	64,510	66,444	70,856
Shares`284`	1,250	1,250	1,250	1,250	-	-	-	-
Amounts receivable and cash guarantees`285/8`	-	54,865	72,089	72,089	56,165	64,510	66,444	70,856
Current assets`29/58`	241.4m	225.7m	203.5m	396.0m	388.7m	201.8m	187.4m	177.4m
Amounts receivable after more than one year`29`	478,348	594,789	1.0m	716,683	811,912	609,485	703,229	891,568
Trade receivables`290`	478,348	594,789	1.0m	716,683	811,912	609,485	703,229	630,900
Other amounts receivable`291`	-	-	-	-	-	-	-	260,668
Stocks and contracts in progress`3`	640,327	1.1m	1.3m	1.5m	1.6m	1.7m	1.6m	1.0m
Stocks`30/36`	640,327	1.1m	1.3m	1.5m	1.6m	1.7m	1.6m	1.0m
Raw materials and consumables`30/31`	542,265	960,169	1.2m	1.4m	1.6m	1.7m	1.6m	1.0m
Goods purchased for resale`34`	98,063	98,063	98,063	98,063	-	-	-	-
Amounts receivable within one year`40/41`	144.5m	155.6m	157.9m	158.6m	134.3m	138.2m	150.4m	138.0m
Trade receivables`40`	141.4m	151.3m	152.3m	152.6m	129.4m	133.8m	142.6m	132.3m
Other amounts receivable`41`	3.0m	4.3m	5.6m	6.1m	4.9m	4.4m	7.9m	5.7m
Current investments`50/53`	85.9m	58.1m	33.1m	223.8m	241.1m	49.3m	23.0m	26.0m
Other investments`51/53`	85.9m	58.1m	33.1m	223.8m	241.1m	49.3m	23.0m	26.0m
Cash at bank and in hand`54/58`	617,547	603,794	633,576	644,041	411,228	1.1m	614,181	1.3m
Deferred charges and accrued income`490/1`	9.3m	9.7m	9.6m	10.7m	10.5m	10.8m	11.1m	10.1m
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	250.1m	237.3m	217.7m	416.1m	410.5m	647.1m	632.5m	619.3m
Equity`10/15`	56.8m	53.7m	50.1m	235.8m	264.4m	231.3m	220.3m	202.3m
Contributions`10/11`	6.6m	6.6m	6.6m	6.6m	6.6m	6.6m	6.6m	-
Capital`10`	6.6m	6.6m	6.6m	6.6m	6.6m	-	-	6.6m
Issued capital`100`	6.6m	6.6m	6.6m	6.6m	6.6m	6.6m	6.6m	6.6m
Reserves`13`	4.9m	4.9m	4.9m	4.9m	4.9m	4.9m	2.9m	2.0m
Non-distributable reserves`130/1`	679,409	679,409	679,409	679,409	679,409	679,409	22,774	-
Legal reserve`130`	656,635	656,635	656,635	656,635	656,635	656,635	656,635	656,635
Reserves not available under the articles`1311`	22,774	22,774	22,774	22,774	-	-	-	22,774
Other`1319`	-	-	-	-	22,774	22,774	22,774	-
Tax-exempt reserves`132`	223,104	223,104	2.2m	3.1m	3.8m	3.8m	1.8m	970,704
Distributable reserves`133`	4.0m	4.0m	2.0m	1.1m	371,841	371,841	371,841	371,842
Profit (loss) carried forward`14`	45.4m	42.3m	38.7m	224.4m	253.0m	219.8m	210.9m	193.7m
Provisions and deferred taxes`16`	3.3m	3.7m	3.7m	3.4m	5.5m	2.9m	3.4m	3.8m
Provisions for liabilities and charges`160/5`	3.3m	3.7m	3.7m	3.4m	5.5m	2.9m	3.4m	3.8m
Pensions and similar obligations`160`	87,000	198,000	202,000	36,385	114,000	258,000	712,000	700,000
Other liabilities and charges`164/5`	3.2m	3.5m	3.5m	3.4m	5.4m	2.7m	2.7m	3.1m
Amounts payable`17/49`	190.0m	179.9m	163.8m	176.8m	140.6m	412.9m	408.8m	413.2m
Amounts payable after more than one year`17`	-	-	-	-	-	281.9m	282.3m	282.6m
Financial debts`170/4`	-	-	-	-	-	281.9m	282.3m	282.6m
Other loans`174`	-	-	-	-	-	281.9m	282.3m	282.6m
Amounts payable within one year`42/48`	146.3m	138.7m	124.9m	139.7m	111.5m	108.3m	104.5m	107.0m
Current portion of amounts payable after more than one year`42`	-	-	-	-	-	375,714	375,714	375,714
Trade debts`44`	63.8m	58.5m	56.7m	83.4m	62.5m	60.3m	55.7m	59.3m
Suppliers`440/4`	63.8m	58.5m	56.7m	83.4m	62.5m	60.3m	55.7m	59.3m
Advances received on contracts in progress`46`	35.4m	35.3m	29.7m	24.3m	20.2m	22.1m	17.8m	19.4m
Taxes, remuneration and social security`45`	34.3m	29.4m	30.5m	31.7m	27.2m	24.2m	29.5m	26.8m
Taxes`450/3`	3.7m	3.0m	3.6m	3.3m	1.5m	3.4m	5.0m	4.5m
Remuneration and social security`454/9`	30.6m	26.3m	26.8m	28.4m	25.8m	20.8m	24.5m	22.2m
Other amounts payable`47/48`	12.8m	15.5m	8.0m	366,810	1.5m	1.4m	1.2m	1.2m
Accrued charges and deferred income`492/3`	43.7m	41.2m	39.0m	37.0m	29.1m	22.7m	22.0m	23.6m
Income statement
Operating income`70/76A`	533.2m	522.8m	472.3m	437.5m	369.3m	339.1m	380.2m	377.0m
Turnover`70`	527.9m	513.1m	464.3m	425.4m	362.5m	333.6m	372.9m	370.1m
Own construction capitalised`72`	7,452	37,405	176,605	8,072	461,289	-	-	-
Other operating income`74`	5.2m	9.6m	7.8m	11.9m	6.4m	-	-	5.2m
Non-recurring operating income`76A`	-	-	-	175,109	-	10.0m	-	1.8m
Operating charges`60/66A`	513.2m	496.6m	462.9m	425.2m	371.1m	334.4m	364.4m	350.9m
Goods for resale, raw materials and consumables`60`	245.4m	241.6m	220.6m	201.4m	178.6m	154.9m	174.8m	168.6m
Purchases`600/8`	245.0m	241.4m	220.4m	201.1m	178.4m	155.0m	175.3m	-
Change in stocks: decrease (increase)`609`	417,905	263,006	198,515	249,493	136,100	-180,486	-524,724	-70,867
Services and other goods`61`	82.9m	75.5m	68.6m	55.4m	36.4m	37.6m	40.5m	41.2m
Remuneration, social security and pensions`62`	180.5m	173.9m	167.5m	162.5m	149.0m	138.9m	146.3m	139.1m
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	2.4m	2.7m	2.7m	2.9m	1.2m	890,202	829,769	545,782
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	-29,399	516,229	-95,060	-170,247	-287,202	323,194	-53,269	102,290
Provisions for liabilities and charges: additions (uses and reversals)`635/8`	-214,779	-541,501	968,494	-73,449	-468,258	-472,336	-342,068	-791,379
Other operating charges`640/8`	895,977	1.7m	376,227	959,563	984,396	383,826	997,297	437,777
Non-recurring operating charges`66A`	1.3m	1.2m	2.3m	2.2m	5.8m	1.9m	1.3m	1.8m
Operating profit (loss)`9901`	20.0m	26.2m	9.3m	12.4m	-1.8m	4.7m	15.8m	26.1m
Financial income`75/76B`	4.1m	2.5m	7.2m	3.4m	48.1m	10.1m	10.4m	-
Recurring financial income`75`	4.1m	2.5m	2.2m	718,777	364,404	97,896	10.4m	11.4m
Income from financial fixed assets`750`	2.6m	824,926	101,949	569,630	245,320	442	10.1m	10.8m
Income from current assets`751`	1.5m	1.6m	2.0m	79,490	59,010	89,560	140,699	460,700
Other financial income`752/9`	35,589	62,108	65,489	69,657	60,075	7,894	89,208	125,317
Non-recurring financial income`76B`	-	2,103	5.0m	2.7m	47.7m	10.0m	-	7.8m
Financial charges`65/66B`	1.1m	753,480	465,647	1.1m	2.1m	2.0m	2.6m	1.7m
Recurring financial charges`65`	1.1m	753,480	465,647	1.1m	1.7m	1.5m	2.6m	1.7m
Debt charges`650`	553,292	325,133	108,503	752,025	1.4m	1.3m	1.5m	1.4m
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)`651`	-	-	-	-	-	-400,000	751,000	-
Other financial charges`652/9`	557,239	428,347	357,144	337,362	319,785	640,236	361,094	323,522
Non-recurring financial charges`66B`	100	-	-	-	418,262	417,019	50,000	-
Profit (loss) for the period before taxes`9903`	23.0m	27.9m	16.1m	14.7m	44.2m	12.8m	23.5m	43.5m
Income taxes`67/77`	7.4m	9.1m	4.2m	5.5m	979,715	1.9m	5.5m	7.9m
Taxes`670/3`	7.4m	9.1m	4.5m	5.8m	979,715	1.9m	5.5m	8.5m
Tax adjustments and reversals of tax provisions`77`	-	-	262,038	252,451	-	-	-	646,681
Profit (loss) for the period`9904`	15.6m	18.8m	11.9m	9.2m	43.2m	11.0m	18.0m	35.6m
Transfer from tax-exempt reserves`789`	-	2.0m	847,280	-	-	-	-	-
Transfer to tax-exempt reserves`689`	-	-	847,280	-	-	2.0m	847,280	747,600
Profit (loss) for the period to be appropriated`9905`	15.6m	20.8m	11.9m	9.2m	43.2m	9.0m	17.2m	34.9m
Appropriation of the result
Profit (loss) to be appropriated`9906`	57.9m	59.5m	236.3m	262.2m	263.0m	219.8m	210.9m	213.7m
Profit (loss) brought forward from the previous period`14P`	42.3m	38.7m	224.4m	253.0m	219.8m	-	-	178.8m
Transfer from equity`791/2`	-	-	847,280	747,600	-	-	-	-
From reserves`792`	-	-	847,280	747,600	-	-	-	-
Transfer to equity`691/2`	-	2.0m	847,280	747,600	-	-	-	-
To other reserves`6921`	-	2.0m	847,280	747,600	-	-	-	-
Profit to be distributed`694/7`	12.5m	15.2m	197.6m	37.8m	10.0m	-	-	20.0m
Return on contributions (dividend)`694`	12.5m	15.2m	197.6m	37.8m	10.0m	-	-	20.0m
Social balance sheet
Average staff (FTE)`9087`	2,081.2	2,131.9	2,125.3	2,231.4	2,119.7	2,143.8	2,137.1	2,042.7
Men (FTE)`1003`	1,943.4	1,991.3	1,987.4	2,051	1,943.3	1,955.4	1,957.3	-
Women (FTE)`1003`	137.8	140.7	137.9	180.4	176.4	188.4	179.8	-
Agency workers`1501`	11.9	19.8	20.5	27.2	18.7	9.3	57.9	-
Hours worked`1013`	3,235,820	3,310,406	3,311,009	3,458,649	3,265,589	3,151,058	3,405,985	-
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

Financial year	Type	Filed	Reference	Document
31-12-2025	full format	02-07-2026	2026-00251443	PDF
31-12-2024	full format	07-07-2025	2025-00244604	PDF
31-12-2023	full format	08-07-2024	2024-00236858	PDF
31-12-2022	full format	20-07-2023	2023-00263932	PDF
31-12-2021	full format	12-07-2022	2022-20181095	PDF
31-12-2020	full format	16-07-2021	2021-37300077	PDF
31-12-2019	full format	13-07-2020	2020-30300482	PDF
31-12-2018	full format	15-07-2019	2019-33000332	PDF
31-12-2017	full format	28-06-2018	2018-26900522	PDF
31-12-2016	full format	12-07-2017	2017-31000355	PDF
31-12-2015	full format	03-06-2016	2016-15200595	PDF
31-12-2014	full format	03-06-2015	2015-14700316	PDF
31-12-2013	full format	18-06-2014	2014-18800309	PDF
31-12-2012	full format	11-06-2013	2013-16900039	PDF
31-12-2011	full format	25-06-2012	2012-21000280	PDF
31-12-2010	full format	10-06-2011	2011-15900060	PDF
31-12-2009	full format	08-06-2010	2010-15800553	PDF
31-12-2008	full format	09-06-2009	2009-21400104	PDF
31-12-2007	full format	15-05-2008	2008-14200334	PDF
31-12-2006	full format	01-06-2007	2007-17300088	PDF
31-12-2005	unclassified schema	19-05-2006	2006-15400002	PDF
31-12-2004	unclassified schema	13-05-2005	2005-14700140	PDF
31-12-2003	unclassified schema	19-05-2004	2004-15600168	PDF
31-12-2002	full format	21-05-2003	2003-15300249	PDF
31-12-2001	unclassified schema	15-05-2002	2002-12400027	PDF
31-12-2000	unclassified schema	17-05-2001	2001-12900222	PDF
31-12-1999	unclassified schema	16-05-2000	2000-13100152	PDF
31-12-1998	unclassified schema	11-05-1999	1999-09204991	PDF
31-12-1997	unclassified schema	19-05-1998	1998-10202218	PDF
31-12-1996	unclassified schema	12-05-1997	1997-07403152	PDF
31-12-1995	unclassified schema	21-05-1996	1996-09501399	PDF
31-12-1994	unclassified schema	24-05-1995	1995-09902285	PDF
31-12-1993	unclassified schema	19-05-1994	1994-09100940	PDF
31-12-1992	unclassified schema	18-05-1993	1993-07702005	PDF
31-12-1991	unclassified schema	02-06-1992	1992-07804002	PDF
31-12-1990	unclassified schema	25-06-1991	1991-12304756	PDF
31-12-1989	unclassified schema	23-05-1990	1990-05301039	PDF
31-12-1988	unclassified schema	26-05-1989	1989-05200951	PDF
31-12-1987	unclassified schema	24-05-1988	1988-04500783	PDF
31-12-1986	unclassified schema	21-05-1987	1987-06801597	PDF
31-12-1985	unclassified schema	23-06-1986	1986-17700492	PDF
31-12-1984	unclassified schema	19-06-1985	1985-12702245	PDF
31-12-1983	unclassified schema	03-07-1984	1984-08701655	PDF
31-12-1982	unclassified schema	14-07-1983	1983-09500597	PDF
31-12-1981	unclassified schema	15-06-1982	1982-05301867	PDF
31-12-1980	unclassified schema	27-05-1981	1981-03701059	PDF
31-12-1979	unclassified schema	05-06-1980	1980-04400839	PDF
31-12-1978	unclassified schema	28-05-1979	1979-03601514	PDF
31-12-1977	unclassified schema	29-05-1978	1978-01200128	PDF

Year	Entries	Awarded	Paid
2025	2	€11,973	€11,973
2024	2	€21,959	€21,959
2023	1	€31,087	€31,087

Line	2025	2024	2023	2022	2021	2020	2019	2018
EBITDA	22.4m	28.9m	12.0m	15.3m	-625,533	5.6m	16.6m	26.6m
Cash flow	18.0m	21.5m	14.5m	12.1m	44.4m	11.8m	18.9m	36.2m
Investment in fixed assets	197,055	74,068	1.4m	13.6m	12.2m	1.6m	4.1m	2.2m
Change in cash	13,754	-29,782	-10,465	232,813	-715,681	512,729	-719,203	-
Working capital	95.0m	87.0m	78.6m	256.3m	277.1m	93.4m	82.9m	70.3m
EBIT margin	3.8%	5.1%	2.0%	2.9%	-0.5%	1.4%	4.2%	7.0%
Solvency	22.7%	22.6%	23.0%	56.7%	64.4%	35.7%	34.8%	32.7%
Current ratio	1.65	1.63	1.63	2.83	3.49	1.86	1.79	1.66
Quick ratio	1.65	1.62	1.62	2.82	3.47	1.85	1.78	1.65
Debt to equity	3.34	3.35	3.27	0.75	0.53	1.79	1.86	2.04
ROE	27.4%	35.0%	23.7%	3.9%	16.3%	4.7%	8.2%	17.6%
ROA	6.2%	7.9%	5.5%	2.2%	10.5%	1.7%	2.9%	5.8%
Interest coverage	40.53	88.76	over 100	20.29	-0.46	4.27	11.31	18.67
Customer credit	98 days	108 days	120 days	131 days	130 days	146 days	140 days	130 days
Supplier credit	71 days	67 days	72 days	118 days	106 days	114 days	94 days	103 days

By activity	2018	2019	2020	2021	2022
Services	€370,072,024	€372,851,094	-	€362,455,389	€425,401,763
Diensten	-	-	€333,567,098	-	-
Total	€370,072,024	€372,851,094	€333,567,098	€362,455,389	€425,401,763

EQUANS Services

Annual accounts 2025

Money flows

Balance sheet

Change in equityin €m

Change in cashin €m

Position in the sector

Solvency22.7%

Current ratio1.65

Return on assets6.2%

Staff

Men and women7% women

Staff cost per FTE€86,726

Joined and left-140

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2023 to 2025, 5 entries, €65,019 awarded, €65,019 paid

European Union 2025, 32 entries, €5.7m in total

Projects

Key figures and ratios

Revenue breakdown

By activity 2022

By geographic market 2020

By activity

By geographic market

Social balance sheet

Investments

Auditor

Public contracts

Insights on EQUANS Services

Next steps

By geographic market	2018	2019	2020
Belgie	-	-	€333,567,098
Buitenland	-	-	€0
Belgique	€365,964,978	€369,315,284	-
A l'étranger	€4,107,046	€3,535,810	-
Total	€370,072,024	€372,851,094	€333,567,098

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	2,173	2,313	2,291	2,365	2,264
full-time	1,806	1,956	1,952	2,034	1,967
part-time	367	357	339	331	297
in full-time equivalents	1,989.5	2,136.9	2,130.6	2,208	2,122.9
Average over the year, in full-time equivalents	2,081.2	2,132	2,125.3	2,231.4	2,119.7
On a permanent contract	2,160	2,297	2,279	2,349	2,241
Joined	136	228	252	307	216
Left	276	206	326	206	193
Agency workers, average number	11.9	19.8	20.5	27.2	18.7
Training hours	57,664	60,669	86,433	149,483	165,802

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€197,055	€74,068	€1.3m	€5.8m	€59,300
Intangible fixed assets	-	-	€76,978	€7.8m	€966,261
Financial fixed assets	-	-	-	€1,330	€11.2m
Depreciation and write-downs of the year	€2.4m	€2.7m	€2.7m	€2.9m	€1.2m

Item	2025	2024	2023	2022	2021
Fee for the audit	€62,362	€60,550	€59,000	€54,940	€51,000
Other work by the auditor	-	-	-	€2,500	-