FININDUS

Active Risk: not assessed Public limited companyfounded 1926active for 100 yearsPres. J.F. Kennedylaan 3, 9060 ZelzateKBO/BCE: BE 0404.535.926 subsidiary of FINOCAS#1 oldest company in Zelzate

Part of the group FINOCAS 7 companies in 2 countries

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FININDUS

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Holdings

own 2025 accounts, the bar shows equity in euros

This companyFININDUS24 holdings, 12 countries 2025 accounts

Belgium 9 Year Equity Result

BE ROBOVISION NV2.86% 2025€18.5m result -€16.1m (2025)
BE CALYOS7.76% 2025€3.6m result -€514,257 (2025)
BE JUUNOO21.28% 2025€3.4m result -€2.1m (2025)
BE BEDRIJVENCENTRUM DE PUNT7.33% 2025€3.2m result €246,498 (2025)
BE OTIV20.26% 2025€2.6m result -€3.0m (2025)
BE SENTEA29.25% 2025€1.9m result -€1.6m (2025)
BE VENTORY17.18% 2025€259,464 result -€756,822 (2025)
BE REIN4CED35.65%open bankruptcy 2024€58,052 result -€5.4m (2024)
BE GUARANTEED50% 2025-€589,594 result -€781,019 (2025)

Europe 12 Year Equity Result

DE TAU ACT10.02% 2024€24.9m result -€3.2m (2024)
DE KRAFTBLOCK4.89% 2024€11.5m result -€7.5m (2024)
FR MAGREESOURCE12.27% 2024€10.1m result -€966,559 (2024)
DE HYPERHEAT GMBH7.42% 2023€2.8m result -€607,186 (2023)
AT M4P MATERIAL SOLUTIONS GMBH10.4% 2025€1.1m result -€830,221 (2025)
LU WIZATA20.7% 2024€1.1m result -€1.3m (2024)
NL IMSYSTEMS HOLDING10.96% 2024-€3.1m result -€2.1m (2024)
GB CORROSION RADAR3.91% 2023GBP 5.0m result -GBP 15.5m (2023)
DK EXPANITE TECHNOLOGY36.69% 2024DKK 15.2m result -DKK 2.9m (2024)
NO HYSTAR4.85% 2024NOK 89.0m result -NOK 142.7m (2024)
GB IMMATERIAL5.11% 2025GBP 8.4m result -GBP 3.4m (2025)
SE VIKING ANALYTICS11.94% 2023SEK 13.6m result -SEK 7.8m (2023)

North America 3 Year Equity Result

US FORTIUS METALS INC15.36% 2024USD 845,945 result -USD 2.8m (2024)
CA IONOMR INNOVATIONS8.06% 2024CAD 20.3m result -CAD 12.4m (2024)
US POWER TO HYDROGEN5.33% 2024USD 11.5m result -USD 2.4m (2024)

Source: list of holdings in its own 2025 accounts. 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 FINOCAS Group, risk and exposure

Parent

FINOCAS

0428.920.241 · 100% of the shares · equity €576.6m · profit €5.7m (2025)

Checked score 90

At the same address

Pres. J.F. Kennedylaan 3, 9060 Zelzate · 3 other companies

FINOCAS registered office since 06-05-1996 · founded in 1986	turnover €6.9m (2025) 0428.920.241
ONDERZOEKSCENTRUM VOOR AANWENDING VAN STAAL registered office since 19-06-1991 · founded in 1991 · group FINOCAS	151 FTE (2025) 0444.177.945
GUARANTEED registered office since 19-07-2019 · founded in 2019 · negative equity (2025)	total assets €1.3m (2025) 0730.896.384

Holdings and subsidiaries

24 holdings

Share, source and own figures per holding (24)

Source for every holding own accounts 2025

GUARANTEED
Equity -€589,594 Loss of €781,019 in 2025 (loss of €1.3m in 2024) Checked score 49

50%
EXPANITE TECHNOLOGYDK
Equity DKK 15.2mResult -DKK 2.9m

36.69%
REIN4CED
Equity €58,052 Loss of €5.4m in 2024 (loss of €5.8m in 2023) Checked score 11
Alsodeed 22-07-2024deed 31-05-2023deed 13-01-2022deed 14-04-2021

35.65%
Sentea
Equity €1.9m Loss of €1.6m in 2025 (loss of €1.5m in 2024) Checked score 56

29.25%
JuuNoo
Equity €3.4m Loss of €2.1m in 2025 (loss of €3.5m in 2024) Checked score 55

21.28%
WIZATALU
Equity €1.1mResult -€1.3m

20.7%
OTIV
Equity €2.6m Loss of €3.0m in 2025 (loss of €1.6m in 2024) Checked score 55

20.26%
VENTORY
Equity €259,464 Loss of €756,822 in 2025 (loss of €743,149 in 2024) Checked score 54

17.18%
FORTIUS METALS INCUS
Equity USD 845,945Result -USD 2.8m

15.36%
MAGREESOURCEFR
Equity €10.1mResult -€966,559

12.27%
VIKING ANALYTICSSE
Equity SEK 13.6mResult -SEK 7.8m

11.94%
IMSYSTEMS HOLDINGNL
Equity -€3.1mResult -€2.1m

10.96%
M4P MATERIAL SOLUTIONS GMBHAT
Equity €1.1mResult -€830,221

10.4%
TAU ACTDE
Equity €24.9mResult -€3.2m

10.02%
IONOMR INNOVATIONSCA
Equity CAD 20.3mResult -CAD 12.4m

8.06%
CALYOS
Equity €3.6m Loss of €514,257 in 2025 (loss of €965,872 in 2024) Checked score 95

7.76%
HYPERHEAT GMBHDE
Equity €2.8mResult -€607,186

7.42%
BEDRIJVENCENTRUM DE PUNT
Equity €3.2m Profit of €246,498 in 2025 (profit of €259,673 in 2024) Checked score 94

7.33%
POWER TO HYDROGENUS
Equity USD 11.5mResult -USD 2.4m

5.33%
IMMATERIALGB
Equity GBP 8.4mResult -GBP 3.4m

5.11%
KRAFTBLOCKDE
Equity €11.5mResult -€7.5m

4.89%
HYSTARNO
Equity NOK 89.0mResult -NOK 142.7m

4.85%
CORROSION RADARGB
Equity GBP 5.0mResult -GBP 15.5m

3.91%
ROBOVISION
Equity €18.5m Loss of €16.1m in 2025 (loss of €13.0m in 2024) Checked score 55

2.86%

Holdings through the years 2006 to 2025

Holdings through the years
Name	2006	2007	2008	2009	2010	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
GUARANTEED 2019 to 2021: 66.23% 2022: 50% 2023: 56.08% 2024 to 2025: 50%													66.23%			50%	56.08%	50%
EXPANITE TECHNOLOGYDK 2014: 8.33% 2015: 11.11% 2016 to 2017: 21.25% 2018 to 2021: 24.31% 2022 to 2025: 36.69%								8.33%	11.11%	21.25%		24.31%				36.69%
REIN4CED 2017: 13.46% 2018 to 2020: 19.1% 2021: 28.38% 2022: 23.31% 2023: 24.21% 2024: 28.45% 2025: 35.65%											13.46%	19.1%			28.38%	23.31%	24.21%	28.45%	35.65%
Sentea 2018 to 2020: 18.6% 2021: 25.14% 2022: 26.32% 2023: 27.78% 2024: 28.3% 2025: 29.25%												18.6%			25.14%	26.32%	27.78%	28.3%	29.25%
JuuNoo 2022: 9.48% 2023: 13.98% 2024: 19% 2025: 21.28%																9.48%	13.98%	19%	21.28%
WIZATALU 2021 to 2022: 17.35% 2023: 18.57% 2024: 19.79% 2025: 20.7%															17.35%		18.57%	19.79%	20.7%
OTIV 2022 to 2023: 12.21% 2024: 17.59% 2025: 20.26%																12.21%		17.59%	20.26%
VENTORY 2024 to 2025: 17.18%																		17.18%
FORTIUS METALS INCUS 2024 to 2025: 15.36%																		15.36%
MAGREESOURCEFR 2023: 8.28% 2024: 12.35% 2025: 12.27%																	8.28%	12.35%	12.27%
VIKING ANALYTICSSE 2022 to 2025: 11.94%																11.94%
IMSYSTEMS HOLDINGNL 2021: 6.49% 2022 to 2025: 10.96%															6.49%	10.96%
M4P MATERIAL SOLUTIONS GMBHAT 2024: 7.27% 2025: 10.4%																		7.27%	10.4%
TAU ACTDE 2021 to 2022: 9.13% 2023: 9.75% 2024 to 2025: 10.02%															9.13%		9.75%	10.02%
IONOMR INNOVATIONSCA 2021 to 2022: 7.62% 2023 to 2024: 8.19% 2025: 8.06%															7.62%		8.19%		8.06%
CALYOS 2012: 17.02% 2013: 21.28% 2014: 14.46% 2015 to 2016: 10.73% 2017: 8.65% 2018: 8.6% 2019 to 2020: 7.62% 2021: 7.12% 2022 to 2023: 7.32% 2024 to 2025: 7.76%						17.02%	21.28%	14.46%	10.73%		8.65%	8.6%	7.62%		7.12%	7.32%		7.76%
HYPERHEAT GMBHDE 2024 to 2025: 7.42%																		7.42%
BEDRIJVENCENTRUM DE PUNT 2006 to 2007: 11.17% 2008 to 2025: 7.33%	11.17%		7.33%
POWER TO HYDROGENUS 2025: 5.33%																			5.33%
IMMATERIALGB 2025: 5.11%																			5.11%
KRAFTBLOCKDE 2023 to 2025: 4.89%																	4.89%
HYSTARNO 2023 to 2024: 2.85% 2025: 4.85%																	2.85%		4.85%
CORROSION RADARGB 2024 to 2025: 3.91%																		3.91%
ROBOVISION 2024 to 2025: 2.86%																		2.86%
Europem Technologies 2017 to 2023: 30.04%											30.04%
KEYSTONE TOWERUS 2017 to 2018: 7.41% 2019: 7.56% 2020: 6.53% 2021 to 2022: 7.28% 2023: 7.99%											7.41%		7.56%	6.53%	7.28%		7.99%
ENERGY PRODUCTS GROUP 2009 to 2010: 21.95% 2012: 24.17% 2013 to 2020: 30.21%				21.95%		24.17%	30.21%
INNOVATION - SERVICE EN SUPPORT 2006: 100% 2007: listed 2008 to 2020: 0.01%	100%	listed	0.01%
INNECSNL 2016 to 2017: 21.76% 2018 to 2019: 64.3%										21.76%		64.3%
BORIT 2012: 60.34% 2013: 75.42% 2014: 62.69% 2015: 65.23% 2016 to 2019: 58.95%						60.34%	75.42%	62.69%	65.23%	58.95%
POWERCELL SWEDENSE 2009 to 2010: 17.19% 2012: 14.15% 2013: 21.56% 2014: 16.4% 2015: 15.2% 2016: 15.15% 2017: 12.6% 2018: 10.5% 2019: 3.86%				17.19%		14.15%	21.56%	16.4%	15.2%	15.15%	12.6%	10.5%	3.86%
APPLIED SUPERCONDUCTORGB 2012: 19.38% 2013 to 2018: 24.22%						19.38%	24.22%
C-Shift 2015 to 2016: 100%									100%
EUROPEM 2016: 30.02%										30.02%
KAAG Management 2006 to 2014: 33.88%	33.88%
ELYTRA 2007: 12.48% 2008: 9.99% 2009: 48.4% 2010 to 2012: 58.46%		12.48%	9.99%	48.4%	58.46%
PARTICIPATIEMAATSCHAPPIJ FININDUS 2008 to 2012: 50.02%			50.02%
XCELCOAT 2007 to 2010: 0.01%		0.01%
SIDARFIN 2006 to 2009: 0.01%	0.01%
BELGISCHE RISICOKAPITAAL ONDERNEMING 2006: 100%	100%

Source: list of holdings in its own accounts

Board mandates elsewhere

1 board mandate

Board mandates of FININDUSFININDUS sits on their board1

BEDRIJVENCENTRUM DE PUNT

Director

Founded in 1988 · 6.6 FTE (2025)

Connections & network

12 current directors

Depth

The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.

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