Equity
IRISnet has made a profit without a break since 2015.
IRISnet has made a profit without a break since 2015.
The result rose in 2025 from €875,883 to €1.3m.
IRISnet pays its suppliers 1 day later than in 2024. Customers pay 25 days earlier.
Board changed. Latest change 14-09-2026 · 9 in office.
More equity than 92% of companies in civil engineering. Sector median €2.0m · 378 companies.
The dashed line is the sector median: 0.2% across 301 companies (NACE 42, small).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 42, small). It does better than 74% of them on solvency, 80% on liquidity, 52% on profitability and 32% on growth.
The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 6,049 companies had the same profile as IRISnet has now. Each dot stands for 16 companies, two years later.
That fits the bankruptcy probability of IRISnet itself: 0.1% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,049 companies, not a prediction for IRISnet. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 2.22 (1.99 in 2024), above the usual 1.5. Short-term debt is 24.5% and cash 17% of total assets. 45.7% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 31 days before the deadline. In the sector (NACE 42), the median for financial year 2024 was 2 days before the deadline, and 41% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| IRISnet Woluwe-Saint-Pierre | €37.9m | 5.1% | 54.3% | 47.1 |
| Circet Infratechniek Schoten | €44.8m | 0.0% | 34.5% | 99.4 |
| IZEN ENERGY SYSTEMS Kasterlee | €43.5m | 2.8% | 44.3% | 57.3 |
| Circet Projects Zaventem | €39.2m | -4.2% | 29.6% | 71.8 |
| GKW Ternat | €38.2m | 3.4% | 32.8% | 116.8 |
| BROEDERS & Co Puurs-Sint-Amands | €13.3m | 12.5% | 32.0% | 78.8 |
| JAM GROUP Lokeren | €26.5m | 20.3% | 36.7% | 23.1 |
Grey: the largest companies of the sector (civil engineering (NACE 42)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as IRISnet: construction of utility projects for electricity and telecommunications (NACE 42220). They are comparable in size and age: total assets between €17m and €55m, founded between 1997 and 2008.
IRISnet has existed since 2012. The present size dates from 2017. Turnover rose that year from €8.9m to €20.7m.
Solvency rose in 2025 from 46.9% to 54.3% because of the retained profit and lower debts.
FOYER DU SUD holds all the shares. In July 2023, seven directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Higher than 68% of 378 companies in 2025.
Higher than 66% of 373 companies in 2025.
Higher than 42% of 377 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: middle half
33.4 men and 13.7 women in full-time equivalents in 2025.
Men €123,349, women €97,098 per full-time equivalent. Jobs differ, so this is not a pay gap.
In 2025, 10 people joined and 5 left. Training hours in 2025: 282.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||
20/58 |
46.0m | 50.4m | 52.6m | 58.3m | 54.8m | 53.7m | 40.9m | 49.7m | 39.0m | 31.5m | 24.1m | 19.8m | 15.1m | |
20 |
0 | 0 | - | - | - | - | - | - | - | - | - | - | - | |
21/28 |
21.0m | 22.1m | 21.3m | 20.2m | 20.6m | 19.6m | 18.0m | 17.5m | 15.7m | 14.4m | - | 12.7m | 11.0m | |
21 |
988,961 | 1.0m | 1.0m | 1.0m | 1.2m | 946,432 | 763,460 | 484,162 | 261,409 | 186,184 | 220,604 | 385,530 | 178,605 | |
22/27 |
19.9m | 21.1m | 20.2m | 19.2m | 19.4m | 18.7m | 17.2m | 17.1m | 15.5m | 14.2m | 13.9m | 12.3m | 10.8m | |
23 |
15.7m | 16.7m | 16.7m | 16.2m | 15.5m | 14.5m | 13.4m | 12.7m | 12.0m | 11.4m | 11.4m | 11.4m | 10.3m | |
24 |
3.0m | 3.2m | 3.4m | 2.8m | 3.6m | 3.9m | 3.6m | 4.0m | 3.4m | 2.6m | 2.2m | 621,224 | 202,798 | |
25 |
0 | 0 | 0 | 0 | - | - | - | - | - | - | 157,459 | - | - | |
26 |
1.1m | 888,705 | 0 | 0 | - | 360 | 5,174 | 13,679 | 43,936 | 65,915 | 104,484 | 7,807 | 11,881 | |
27 |
139,119 | 250,953 | 145,057 | 166,028 | 254,985 | 256,799 | 333 | - | 39,161 | 101,509 | 34,518 | - | - | |
28 |
31,978 | 975 | 975 | 975 | 975 | 975 | 975 | 975 | 975 | 975 | 975 | 20,975 | 20,600 | |
284/8 |
31,978 | 975 | 975 | 975 | 975 | 975 | 975 | 975 | 975 | 975 | 975 | 20,975 | 20,600 | |
285/8 |
31,978 | 975 | 975 | 975 | 975 | 975 | 975 | 975 | 975 | 975 | 975 | 20,975 | 20,600 | |
29/58 |
25.0m | 28.3m | 31.3m | 38.1m | 34.2m | 34.0m | 23.0m | 32.1m | 23.3m | 17.1m | 10.0m | 7.1m | 4.1m | |
3 |
148,058 | 283,582 | 815,472 | 1.5m | 1.4m | 360,108 | 2.0m | 2.3m | 1.8m | 271,408 | 166,844 | 297,762 | 133,117 | |
30/36 |
148,058 | 283,582 | 815,472 | 1.5m | 1.4m | 360,108 | 334,707 | 407,355 | 178,324 | 271,408 | 166,844 | 297,762 | 133,117 | |
34 |
148,058 | 283,582 | 815,472 | 1.5m | 1.4m | 360,108 | 334,707 | 407,355 | 178,324 | 271,408 | 166,844 | 297,762 | 133,117 | |
37 |
- | - | - | - | - | - | 1.7m | 1.9m | 1.6m | - | - | - | - | |
40/41 |
12.9m | 18.4m | 19.0m | 21.1m | 22.5m | 23.6m | 13.3m | 10.5m | 17.8m | 12.6m | 6.8m | 4.6m | 3.5m | |
40 |
12.9m | 18.4m | 19.0m | 21.1m | 22.5m | 23.6m | 13.0m | 10.4m | 17.7m | 12.6m | 6.8m | 4.6m | 3.3m | |
41 |
4,352 | 902 | 198 | 2,482 | 6,810 | 16,613 | 268,878 | 91,502 | 140,174 | 20,892 | 540 | 9,057 | 183,211 | |
50/53 |
808,865 | 800,446 | 2.4m | 3.9m | 5.1m | 422,587 | 422,498 | 422,410 | 422,321 | 422,231 | 421,701 | 30,776 | 30,598 | |
51/53 |
808,865 | 800,446 | 2.4m | 3.9m | 5.1m | 422,587 | 422,498 | 422,410 | 422,321 | 422,231 | 421,701 | 30,776 | 30,598 | |
54/58 |
7.8m | 5.5m | 5.8m | 9.4m | 3.5m | 8.3m | 6.3m | 17.2m | 2.2m | 1.9m | 1.4m | 1.7m | 313,140 | |
490/1 |
3.4m | 3.2m | 3.3m | 2.3m | 1.6m | 1.4m | 925,647 | 1.7m | 1.0m | 1.9m | 1.1m | 445,499 | 136,949 | |
| Balance sheet: equity and liabilities | ||||||||||||||
10/49 |
46.0m | 50.4m | 52.6m | 58.3m | 54.8m | 53.7m | 40.9m | 49.7m | 39.0m | 31.5m | 24.1m | 19.8m | 15.1m | |
10/15 |
25.0m | 23.6m | 22.8m | 21.2m | 20.1m | 19.1m | 18.1m | 16.5m | 14.3m | 13.2m | 12.3m | 11.7m | 11.9m | |
10/11 |
12.3m | 12.3m | 12.3m | 12.3m | 12.3m | 12.3m | 12.3m | 12.3m | 12.3m | 12.3m | - | 12.3m | 12.3m | |
10 |
- | - | 12.3m | 12.3m | 12.3m | - | - | - | - | - | 12.3m | - | - | |
100 |
- | - | 12.3m | 12.3m | 12.3m | 12.3m | 12.3m | 12.3m | 12.3m | 12.3m | 12.3m | 12.3m | 12.3m | |
13 |
1.2m | 1.2m | 1.2m | 1.2m | 1.2m | 1.2m | 1.2m | 1.2m | 1.2m | 989,554 | 40,106 | - | - | |
130/1 |
- | - | 1.2m | 1.2m | 1.2m | 1.2m | - | - | - | - | - | - | - | |
130 |
- | - | 1.2m | 1.2m | 1.2m | 1.2m | 1.2m | 1.2m | 1.2m | 989,554 | 40,106 | - | - | |
133 |
1.2m | 1.2m | - | - | - | - | - | - | - | - | - | - | - | |
14 |
11.5m | 10.2m | 9.3m | 7.7m | 6.6m | 5.6m | 4.6m | 3.1m | 863,411 | - | 3,368 | -538,111 | -357,996 | |
16 |
25,000 | 25,000 | 101,500 | 86,964 | 25,000 | 25,000 | 25,000 | 25,000 | 20,000 | - | - | - | - | |
160/5 |
25,000 | 25,000 | 101,500 | 86,964 | 25,000 | 25,000 | 25,000 | 25,000 | 20,000 | - | - | - | - | |
163 |
- | 25,000 | - | - | - | - | - | - | 20,000 | - | - | - | - | |
164/5 |
25,000 | - | 101,500 | 86,964 | 25,000 | 25,000 | 25,000 | 25,000 | - | - | - | - | - | |
17/49 |
21.0m | 26.7m | 29.7m | 37.0m | 34.7m | 34.6m | 22.8m | 33.1m | 24.6m | 18.3m | 11.8m | 8.1m | 3.2m | |
17 |
- | - | - | - | - | 110,000 | 268,884 | 525,221 | 440,000 | - | 552,574 | 630,252 | 704,195 | |
170/4 |
- | - | - | - | - | 110,000 | 268,884 | 525,221 | 440,000 | - | 552,574 | 630,252 | 704,195 | |
172 |
- | - | - | - | - | - | 48,884 | 195,221 | - | - | 2,574 | 80,252 | 154,195 | |
174 |
- | - | - | - | - | 110,000 | 220,000 | 330,000 | 440,000 | - | 550,000 | 550,000 | 550,000 | |
42/48 |
11.3m | 14.2m | 13.5m | 16.3m | 16.4m | 17.4m | 11.9m | 22.2m | 12.6m | 9.0m | 5.7m | 4.4m | 2.2m | |
42 |
- | - | - | - | - | 48,884 | 158,531 | 158,506 | - | 2,600 | 77,678 | 105,132 | 68,334 | |
43 |
- | - | - | - | - | - | - | - | 1.9m | 550,000 | - | - | - | |
430/8 |
- | - | - | - | - | - | - | - | 1.9m | - | - | - | - | |
439 |
- | - | - | - | - | - | - | - | - | 550,000 | - | - | - | |
44 |
9.6m | 12.5m | 12.3m | 14.3m | 14.2m | 15.2m | 9.3m | 17.6m | 8.6m | 7.0m | 4.8m | 3.9m | 2.1m | |
440/4 |
9.6m | 12.5m | 12.3m | 14.3m | 14.2m | 15.2m | 9.3m | 17.6m | 8.6m | 7.0m | 4.8m | 3.9m | 2.1m | |
46 |
- | - | - | - | - | - | 1.9m | 2.2m | 1.3m | - | - | - | - | |
45 |
1.6m | 1.7m | 1.2m | 2.0m | 2.2m | 2.0m | 465,146 | 2.1m | 731,381 | 1.3m | 612,852 | 438,112 | 87,702 | |
450/3 |
670,155 | 904,439 | 476,374 | 1.3m | 1.6m | 1.4m | 18,483 | 1.7m | 480,985 | 953,816 | 374,440 | 308,178 | - | |
454/9 |
967,160 | 770,475 | 738,476 | 742,810 | 600,538 | 601,332 | 446,663 | 346,303 | 250,396 | 313,862 | 238,412 | 129,935 | 87,702 | |
47/48 |
- | - | - | - | - | 150,000 | - | 200,000 | 100,000 | 220,520 | 220,530 | - | 10 | |
492/3 |
9.7m | 12.5m | 16.2m | 20.7m | 18.3m | 17.1m | 10.7m | 10.4m | 11.6m | 9.2m | 5.5m | 3.0m | 306,399 | |
| Income statement | ||||||||||||||
70/76A |
38.5m | 45.7m | 49.2m | 47.3m | 42.3m | 35.7m | 29.5m | 36.9m | 22.6m | 17.9m | - | 8.3m | 7.8m | |
70 |
37.9m | 45.2m | 47.7m | 44.6m | 41.2m | 36.9m | 29.3m | 36.3m | 20.7m | 8.9m | 11.3m | 8.1m | 7.6m | |
71 |
- | - | - | - | - | -1.7m | -179,707 | 261,850 | 1.6m | - | - | - | - | |
72 |
314,065 | 376,975 | 437,277 | 508,649 | 384,188 | 411,492 | 265,699 | 227,739 | 132,100 | 133,257 | 132,227 | 80,661 | - | |
74 |
231,918 | 138,952 | 1.1m | 2.1m | 702,285 | - | - | - | - | - | 57,865 | - | - | |
76A |
- | - | - | - | 29,559 | - | - | - | - | 8.8m | - | 18 | - | |
60/66A |
36.6m | 44.5m | 47.1m | 45.6m | 41.0m | 34.1m | 27.2m | 33.5m | 20.7m | 16.1m | - | 8.4m | 8.1m | |
60 |
19.5m | 26.9m | 29.7m | 28.3m | 25.8m | 22.5m | 17.0m | 25.4m | 13.6m | 3.2m | 5.7m | 4.8m | 4.2m | |
600/8 |
19.3m | 26.5m | 29.0m | 28.4m | - | 22.5m | 17.0m | 25.6m | 13.5m | 3.3m | 5.6m | 4.9m | 4.3m | |
609 |
225,755 | 393,557 | 704,855 | -147,825 | -1.1m | -30,269 | 33,344 | -229,031 | 101,865 | -104,565 | 122,137 | -164,645 | -133,117 | |
61 |
7.9m | 9.2m | 8.8m | 7.6m | 7.5m | 5.1m | 4.5m | 3.2m | 3.2m | 2.5m | 1.8m | 1.4m | 2.1m | |
62 |
5.5m | 4.6m | 4.1m | 4.1m | 3.9m | 3.3m | 2.7m | 2.5m | 2.0m | 1.8m | 1.7m | 1.3m | 961,990 | |
630 |
3.8m | 3.7m | 3.5m | 3.6m | 3.5m | 3.2m | 2.8m | 2.4m | 1.9m | 2.1m | 1.2m | 865,768 | 832,176 | |
631/4 |
-90,231 | 138,333 | 4,103 | 19,648 | 18,331 | 4,868 | 39,304 | - | -8,782 | - | 8,782 | - | - | |
635/8 |
- | -76,500 | 14,536 | 61,964 | - | - | - | 5,000 | 20,000 | - | - | - | - | |
640/8 |
61,940 | 6,838 | 953,492 | 2.0m | 403,585 | 3,585 | 5,125 | 5,295 | 3,261 | 149 | 4,229 | 11,851 | 1,160 | |
66A |
- | - | - | - | - | - | 107,141 | - | - | 6.5m | - | - | 37,666 | |
9901 |
1.9m | 1.3m | 2.1m | 1.6m | 1.4m | 1.6m | 2.4m | 3.5m | 1.9m | 1.8m | 1.1m | -126,753 | -369,443 | |
75/76B |
10,229 | 19,875 | 69,798 | 3,138 | - | 2,248 | 1,544 | 6,556 | 160 | 1,788 | - | 866 | 77,952 | |
75 |
10,229 | 19,875 | 69,798 | 3,138 | 1,109 | 2,248 | 1,544 | 6,556 | 160 | 1,788 | 1,632 | 866 | 77,952 | |
750 |
355 | 614 | 366 | 186 | 11 | 246 | 631 | 150 | - | - | - | - | - | |
751 |
9,561 | 19,260 | 69,370 | 2,634 | 299 | - | 127 | 127 | 127 | - | 1,632 | 866 | 43,103 | |
752/9 |
313 | 2 | 62 | 318 | 799 | 2,002 | 786 | 6,279 | 33 | 1,788 | - | 1 | 34,849 | |
65/66B |
55,553 | 30,291 | 27,804 | 39,660 | 50,634 | 35,290 | 35,314 | 45,866 | 54,843 | 47,838 | - | 53,396 | 28,184 | |
65 |
55,553 | 30,291 | 27,804 | 39,660 | 50,634 | 35,290 | 35,314 | 45,866 | 54,843 | 47,838 | 48,127 | 53,396 | 28,184 | |
650 |
38,848 | 17,220 | 12,332 | 12,388 | 38,326 | 23,660 | 20,763 | 27,678 | 27,917 | 16,179 | 24,001 | 32,947 | 18,235 | |
652/9 |
16,705 | 13,070 | 15,472 | 27,271 | 12,308 | 11,631 | 14,552 | 18,189 | 26,926 | 31,659 | - | 20,449 | 9,949 | |
9903 |
1.9m | 1.3m | 2.2m | 1.6m | 1.3m | 1.6m | 2.3m | 3.4m | 1.8m | 1.7m | 887,181 | -179,266 | -357,340 | |
67/77 |
540,525 | 394,170 | 613,313 | 464,921 | 380,215 | 437,263 | 749,309 | 1.0m | 644,810 | 564,526 | 85,077 | 850 | 656 | |
670/3 |
540,525 | 394,170 | 613,313 | 465,206 | 381,896 | 437,263 | 749,309 | 1.0m | 648,894 | 564,526 | 85,077 | 850 | 656 | |
77 |
- | - | - | 285 | 1,681 | 0 | - | 4,930 | 4,085 | - | - | - | - | |
9904 |
1.3m | 875,883 | 1.6m | 1.1m | 952,286 | 1.1m | 1.6m | 2.4m | 1.2m | 1.2m | 802,104 | -180,115 | -357,996 | |
9905 |
1.3m | 875,883 | 1.6m | 1.1m | 952,286 | 1.1m | 1.6m | 2.4m | 1.2m | 1.2m | 802,104 | -180,115 | -357,996 | |
| Appropriation of the result | ||||||||||||||
9906 |
11.5m | 10.2m | 9.3m | 7.7m | 6.6m | 5.8m | 4.6m | 3.3m | 1.2m | 1.2m | 263,993 | -538,111 | -357,996 | |
14P |
10.2m | 9.3m | 7.7m | 6.6m | 5.6m | - | - | - | - | - | -538,111 | - | - | |
691/2 |
- | - | - | - | - | - | - | - | 235,556 | 949,448 | 40,105 | - | - | |
6920 |
- | - | - | - | - | - | - | - | 235,556 | 949,448 | 40,105 | - | - | |
694/7 |
- | - | - | - | - | 150,000 | - | 200,000 | 100,000 | 220,520 | - | - | - | |
694 |
- | - | - | - | - | 150,000 | - | 200,000 | 100,000 | 220,520 | 220,520 | - | - | |
| Social balance sheet | ||||||||||||||
9087 |
47.1 | 40.7 | 35.4 | 37.1 | 39.1 | 34.5 | 28.6 | 26.5 | 22.4 | 19.3 | 16.1 | 14.1 | 11.5 | |
Men (FTE)1003 |
33.4 | 29.4 | 25 | 26.4 | - | 23.5 | 19.6 | 18.3 | 14.9 | 14 | - | 12 | 7.3 | |
Women (FTE)1003 |
13.7 | 11.3 | 10.4 | 10.7 | - | 11 | 9 | 8.2 | 7.5 | 5.3 | - | 2.1 | 4.2 | |
Hours worked1013 |
78,043 | 67,725 | 59,285 | 61,001 | - | 58,536 | 48,162 | 43,619 | 37,438 | 32,669 | - | 24,793 | 17,593 | |
| Document | ||||||||||||||
The notes to these accounts have 63 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 15-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 15-06-2026 | 2026-00170037 | |
| 31-12-2024 | unclassified schema | 13-06-2025 | 2025-00145739 | |
| 31-12-2023 | full format | 18-06-2024 | 2024-00149309 | |
| 31-12-2022 | full format | 15-06-2023 | 2023-00145201 | |
| 31-12-2021 | full format | 17-06-2022 | 2022-20090314 | |
| 31-12-2020 | full format | 22-06-2021 | 2021-24100287 | |
| 31-12-2019 | full format | 17-09-2020 | 2020-55100114 | |
| 31-12-2018 | full format | 18-06-2019 | 2019-20500410 | |
| 31-12-2017 | full format | 28-06-2018 | 2018-25800165 | |
| 31-12-2016 | full format | 03-07-2017 | 2017-28300007 | |
| 31-12-2015 | full format | 04-07-2016 | 2016-28900194 | |
| 31-12-2014 | full format | 15-07-2015 | 2015-31400088 | |
| 31-12-2013 | full format | 25-06-2014 | 2014-21600051 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5.7m | 5.0m | 5.6m | 5.2m | 4.8m | 4.8m | 5.2m | 5.9m | 3.8m | 3.9m | 2.3m | 739,015 | 462,733 | ||
| 5.1m | 4.6m | 5.0m | 4.7m | 4.4m | 4.4m | 4.4m | 4.8m | 3.1m | 3.3m | 2.0m | 685,652 | 474,180 | ||
| 2.9m | 4.6m | 4.6m | 3.2m | 4.5m | 5.3m | 3.4m | 4.2m | 3.2m | 2.3m | 2.8m | 2.6m | 11.8m | ||
| 2.3m | -282,861 | -3.5m | 5.8m | -4.8m | 2.0m | -10.9m | 15.1m | 206,233 | 509,998 | -284,861 | 1.4m | - | ||
| 13.8m | 14.1m | 17.8m | 21.8m | 17.7m | 16.7m | 11.1m | 9.9m | 10.7m | 8.0m | 4.2m | 2.7m | 1.9m | ||
| 5.1% | 2.8% | 4.5% | 3.6% | 3.4% | 4.4% | 8.0% | 9.5% | 9.2% | 20.0% | 9.8% | -1.6% | -4.8% | ||
| 54.3% | 46.9% | 43.3% | 36.4% | 36.6% | 35.6% | 44.3% | 33.3% | 36.8% | 42.0% | 51.0% | 59.2% | 78.6% | ||
| 2.22 | 1.99 | 2.31 | 2.33 | 2.08 | 1.96 | 1.94 | 1.45 | 1.85 | 1.89 | 1.74 | 1.60 | 1.86 | ||
| 2.21 | 1.97 | 2.25 | 2.24 | 2.00 | 1.94 | 1.77 | 1.34 | 1.71 | 1.86 | 1.71 | 1.54 | 1.80 | ||
| 0.84 | 1.13 | 1.31 | 1.75 | 1.73 | 1.81 | 1.26 | 2.00 | 1.72 | 1.38 | 0.96 | 0.69 | 0.27 | ||
| 5.4% | 3.7% | 6.8% | 5.3% | 4.7% | 6.0% | 8.7% | 14.6% | 8.4% | 8.8% | 6.5% | -1.5% | -3.0% | ||
| 2.9% | 1.7% | 3.0% | 1.9% | 1.7% | 2.1% | 3.9% | 4.8% | 3.1% | 3.7% | 3.3% | -0.9% | -2.4% | ||
| over 100 | over 100 | over 100 | over 100 | over 100 | over 100 | over 100 | over 100 | over 100 | over 100 | 95.78 | 22.43 | 25.38 | ||
| 124 days | 149 days | 145 days | 172 days | 199 days | 233 days | 162 days | 104 days | 313 days | 515 days | 221 days | 207 days | 160 days | ||
| 128 days | 127 days | 117 days | 146 days | 156 days | 201 days | 158 days | 224 days | 186 days | 450 days | 234 days | 228 days | 119 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Total €41,233,143
Source: 2022 accounts, page 27, filing 2023-00145201, figures of the previous financial year
| By activity | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|
| Users/sites | €14,080,077 | €14,584,455 | €29,857,500 | €20,755,084 | €28,466,682 | €31,944,049 |
| Services régionaux dédicacés : ftts-vprb-anpr-wifi.brussels-wtts | - | - | - | - | - | €8,852,823 |
| Others | €324,291 | €798,457 | €154,273 | €358,049 | €136,837 | €436,271 |
| Services régionaux dédicacés : ftts-vprb-anpr-wifi.brussels | - | - | - | €8,208,473 | €8,324,859 | - |
| Services régionaux dédicacés : ftts-vprb-wifi.brussels-anpr | - | €5,282,647 | - | - | - | - |
| Services régionaux dédicacés : FTTS/wifi.brussels/VPRB | €3,305,643 | - | - | - | - | - |
| Total | €17,710,011 | €20,665,560 | €30,011,773 | €29,321,606 | €36,928,378 | €41,233,143 |
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 48 | 43 | 37 | 36 |
| full-time | 43 | 38 | 34 | 32 |
| part-time | 5 | 5 | 3 | 4 |
| in full-time equivalents | 47.2 | 42.2 | 36.5 | 35.2 |
| 47.1 | 40.7 | 35.4 | 37.1 | |
| On a permanent contract | 48 | 43 | 37 | 36 |
| Joined | 10 | 14 | 9 | 5 |
| Left | 5 | 8 | 8 | 10 |
| Training hours | 282 | 148 | 330 | 314 |
Source: social balance sheet in the 2022 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2.3m | €3.9m | €3.9m | €2.6m | €3.6m |
| Intangible fixed assets | €568,109 | €627,878 | €666,609 | €536,319 | €902,145 |
| €3.8m | €3.7m | €3.5m | €3.6m | €3.5m |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The auditor is BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Fee for the audit | €28,500 | €23,633 | €21,000 | €21,000 | €21,313 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
The operating result for 2025 is 51% higher than in 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 53.0% to 45.7%. Equity is higher and debt is lower.
Further up the chainOrange Belgique SA consolidates
Source: shareholder structure in its own accounts, parent in its own accounts, lists of holdings in the owners' accounts
Source: list of holdings in the 2025 accounts of FOYER DU SUD. Every holding stands with its own latest accounts.
| BNP Paribas Fortis
establishment since 30-06-2016 · founded in 1934 · group BNP PARIBAS |
total assets €282.82bn (2025) 0403.199.702 |
| TAKSIM
registered office since 21-05-2007 · founded in 2007 · negative equity (2025) |
total assets €229.9m (2025) 0889.528.996 |
| ALLIA INSURANCE BROKERS
establishment since 01-04-2026 · founded in 2012 · group Insurance Investments International |
275 FTE (2025) 0508.449.056 |
| MITSUI AGRISCIENCE INTERNATIONAL
registered office since 10-05-2001 · founded in 2001 |
11 FTE (2026) 0474.482.923 |
| Building Green One
registered office since 28-11-2012 · founded in 2012 · group ENODIA |
turnover €3.9m (2019) 0501.599.965 |
| Intys Invest
registered office since 18-07-2019 · founded in 2019 |
6.1 FTE (2026) 0730.822.843 |
| Intys
registered office since 25-10-2007 · founded in 2007 |
298 FTE (2026) 0893.270.030 |
| COPADE
registered office since 11-06-2015 · founded in 2015 |
turnover €984,088 (2019) 0631.930.353 |
| MONARD LAW
registered office since 19-09-2013 · founded in 2013 |
31 FTE (2025) 0538.839.651 |
| GESTONE 15
registered office since 11-02-2022 · founded in 2022 · group COFINIMMO |
total assets €32.2m (2022) 0781.898.687 |
| INNOVATION VALLEY via AZGHOUD Loubna, at IRISnet until 2025 · Manager (not named in the articles) · deed of 29-04-2021 founded in 2021 · accounts filed late |
total assets €32,288 (2022) |
| Parc des Expositions de Bruxelles - Tentoonstellingspark van Brussel - Brüsseler Messegelände - Brussels Exhibition Center via Alexandre DERMINE, no longer at Parc des Expositions de Bruxelles - Tentoonstellingspark van Brussel - Brüsseler Messegelände - Brussels Exhibition Center · Director · deed of 09-01-2020 founded in 1936 |
53 FTE (2025) |
| Visit.brussels via Alexandre DERMINE, no longer at Visit.brussels · Director founded in 2015 |
154 FTE (2025) |
| Ccaps via Xavier Pichon, at IRISnet until 2023 · Director · deed of 20-01-2021 founded in 2004 |
14 FTE (2025) |
| La Vénerie, Centre culturel et Centre d'Expression et de Créativité francophones de Watermael-Boitsfort via Alexandre DERMINE, no longer at La Vénerie, Centre culturel et Centre d'Expression et de Créativité francophones de Watermael-Boitsfort · Director founded in 1971 |
15 FTE (2024) |
| ENTREPRENDRE BRUXELLES, PROMOTION DES COMMERCES ET ENTREPRISES DE LA VILLE DE BRUXELLES via Alexandre DERMINE, no longer at ENTREPRENDRE BRUXELLES, PROMOTION DES COMMERCES ET ENTREPRISES DE LA VILLE DE BRUXELLES · Director founded in 2013 |
7.2 FTE (2025) |
| BEWEGING VOOR INTERNATIONALE SOLIDARITEIT - MOUVEMENT POUR LA SOLIDARITE INTERNATIONALE via HAAZE Jelmen, no longer at BEWEGING VOOR INTERNATIONALE SOLIDARITEIT - MOUVEMENT POUR LA SOLIDARITE INTERNATIONALE · Director founded in 2001 |
3.3 FTE (2025) |
| COOPCITY via Marie VANDERHEYDEN, at IRISnet until 2024 · Director · deed of 14-10-2024 founded in 2021 |
total assets €259,598 (2025) |
| Syndicat d'initiative pour la Promotion du Commerce et de l'Artisanat à Watermael-Boisfort via Alexandre DERMINE, no longer at Syndicat d'initiative pour la Promotion du Commerce et de l'Artisanat à Watermael-Boisfort · Director · deed of 23-03-2020 |
founded in 1977 |
| UPDATE via Nicolas Locoge, at IRISnet until 2025 · Chair · deed of 23-04-2024 |
founded in 2010 |
| VOO HOLDING via Xavier Pichon, at IRISnet until 2023 · Director (not named in the articles) · deed of 25-05-2023 No longer active |
total assets €1.74bn (2023) |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
A deed published in both Dutch and French appears here once.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Tervurenlaan 270 registered office 1150 Woluwe-Saint-Pierre 4222002 Construction of utility projects for electricity and telecommunications | 06-07-2012 | 2.210.942.081 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21019A0155/00Z000 | 1.9 ha | 1 · 4,055 m² | 28.9 m · 5 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0847.220.467
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