LINEAS

Active

Public limited companyfounded 2008active for 18 yearsKoning AlbertII laan 37, 1030 Schaarbeek, Belgium22 active companies are registered at this addressKBO/BCE: BE 0896.067.192

Summary

The computed 12-month bankruptcy probability of LINEAS is 2.1% (moderate). The annual accounts of LINEAS for financial year 2025 show a net loss of 103% of the equity at the start of that year. The 2025 annual accounts show equity of €55.0m and a net result of -€58.9m. Equity is shrinking by about 17% per year across the filed financial years. Its solvency ranks better than 25% of 1,071 sector peers (NACE 49, financial year 2025). The company has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals.

Risk analysisFollow Report Compare

LINEASActiveChecked score 52/100

Risk analysis Report Compare

Directors

13 directors, 7 in day-to-day management, last change in 2026

Board 13

LOUWAGIE Arne Gilbert

Lid van de raad van toezicht · since 19-11-2020

Current

SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT

Membre du conseil de surveillance · since 14-01-2021 · Public limited company · permanent representative: Martin de Brabant

Current

GEMA

Lid van de raad van toezicht · since 02-06-2022 · Private limited company · permanent representative: Michel Allé

Current

Jessica Peters

Lid van de raad van toezicht · since 02-06-2022

Current

DANNEMOIS

Membre du conseil de direction · since 14-10-2024 · Private limited company · permanent representative: Alban François

Current

Edge4Growth

Membre du conseil de direction · since 01-11-2024 · Private limited company · permanent representative: Luc Pirenne

Current

VAN OCKENBURG CONSULTING

Membre du conseil de direction · since 02-05-2025 · Private limited company · permanent representative: Eric van Ockenburg

Current

NV PMV

Membre du conseil de surveillance · since 29-04-2026 · Legal entity · permanent representative: Jeroen Vergote

Current

Show all 13 directors

Sparaxis SA

Membre du conseil de surveillance · since 29-04-2026 · Legal entity · permanent representative: Vincent Vandrepol

Current

ELNE CONSULT

Membre du conseil de direction · since 11-05-2026 · Private limited company (pre-2019) · permanent representative: Els Neirynck

Current

DE DECKER Peter Paul J.

Membre du conseil de surveillance · since 31-08-2026

Current

Federale Participatie- en Investeringsmaatschappij NV van openbaar nut / Société Fédérale de Participations et d'Investissements SA d'intérêt public

Membre du conseil de surveillance · since 29-04-2021 · Legal entity · from a recent deed

Current

Edge4Growth BV

Membre du conseil de direction · since 17-12-2024 · Legal entity · from a recent deed

Current

8 not recently confirmed

Still in office according to the deeds, but no deed of the last six years confirms the mandate. Mandates like this have often ended since, in a deed we have not read yet.

Arnold DE BRAUWER

Director · since 27-02-2008

Not recently confirmed

DESCHЕЕМАЕСКER Marc Cyriel Lieven

Director · since 27-02-2008

Not recently confirmed

PAUWELS Geert Jozef Armand

Director · since 27-02-2008

Not recently confirmed

VERDICKT Dirk Maria Roger

Director · since 27-02-2008

Not recently confirmed

YSEBAERT Clair Robert

Director · since 27-02-2008

Not recently confirmed

SNCB Logistics SA

Director · since 26-10-2012 · Legal entity · permanent representative: P. Matthys

Not recently confirmed

B Logistics Holding NV

Director · Legal entity · permanent representative: MEIJSSEN Maarten

Not recently confirmed

G. Pauwels

Director

Not recently confirmed

Day-to-day management 7

B-G SRL

Lid directieraad · since 26-09-2022 · Legal entity · permanent representative: Bernard Gustin

Current

DANNEMOIS

Member of the management board · since 04-09-2024 · Private limited company · permanent representative: Alban François

Current

Edge4Growth

Member of the management board · since 01-11-2024 · Private limited company · permanent representative: Luc Pirenne

Current

VAN OCKENBURG CONSULTING

Member of the management board · since 02-05-2025 · Private limited company · permanent representative: Eric van Ockenburg

Current

ELNE CONSULT

Member of the management board · since 11-05-2026 · Private limited company (pre-2019) · permanent representative: Els Neirynck

Current

Gecalo BV

Lid directieraad · Legal entity · permanent representative: Jan De Raeymaeker

Current

Edge4Growth BV

Member of the management board · since 17-12-2024 · Legal entity · from a recent deed

Current

6 not recently confirmed

Still in office according to the deeds, but no deed of the last six years confirms the mandate. Mandates like this have often ended since, in a deed we have not read yet.

Geert PAUWELS

Managing director · since 24-02-2020

Not recently confirmed

MARCEAU

Member of the executive committee · since 01-07-2018 · Private limited company · permanent representative: Sam Bruynseels

Not recently confirmed

PEOPLE INVEST

Member of the executive committee · since 01-07-2018 · Private limited company · permanent representative: Rik Vos

Not recently confirmed

MatSie

Lid directiecomité · since 01-01-2019 · Private limited company · permanent representative: Jeroen Spruyt

Not recently confirmed

Leap Time BVBA

Lid directiecomité · Legal entity · permanent representative: PAUWELS Geert

Not recently confirmed

NxtDD

Lid directiecomité · Private limited company · permanent representative: Mark Geuens

Not recently confirmed

Permanent representatives 10

Martin de Brabant

Permanent representative · since 14-01-2021 · for SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT

Current

Michel Allé

Permanent representative · since 02-06-2022 · for GEMA

Current

Bernard Gustin

Permanent representative · since 26-09-2022 · for B-G SRL

Current

Alban François

Permanent representative · since 14-10-2024 · for DANNEMOIS

Current

Luc Pirenne

Permanent representative · since 01-11-2024 · for Edge4Growth

Current

Eric van Ockenburg

Permanent representative · since 02-05-2025 · for VAN OCKENBURG CONSULTING

Current

Jeroen Vergote

Permanent representative · since 29-04-2026 · for NV PMV

Current

Vincent Vandrepol

Permanent representative · since 29-04-2026 · for Sparaxis SA

Current

Show all 10 representatives

Els Neirynck

Permanent representative · since 11-05-2026 · for ELNE CONSULT

Current

Jan De Raeymaeker

Permanent representative · for Gecalo BV

Current

7 not recently confirmed

Still in office according to the deeds, but no deed of the last six years confirms the mandate. Mandates like this have often ended since, in a deed we have not read yet.

P. Matthys

Permanent representative · since 26-10-2012 · for SNCB Logistics SA

Not recently confirmed

Rik Vos

Permanent representative · since 01-07-2018 · for PEOPLE INVEST

Not recently confirmed

Sam Bruynseels

Permanent representative · since 01-07-2018 · for MARCEAU

Not recently confirmed

Jeroen Spruyt

Permanent representative · since 01-01-2019 · for MatSie

Not recently confirmed

Mark Geuens

Permanent representative · for NxtDD

Not recently confirmed

MEIJSSEN Maarten

Permanent representative · for B Logistics Holding NV

Not recently confirmed

PAUWELS Geert

Permanent representative · for Leap Time BVBA

Not recently confirmed

Statutory auditor 2

Romuald Billem

Auditor · since 27-09-2023

Current

Forvis Mazars Réviseurs d’Entreprises

Bedrijfsrevisor voor controleverslag inbreng in natura afgesplitste vermogen bij oprichting · since 20-08-2024 · permanent representative: Bilem Romuald

Current

"From a recent act": read from a Gazette act not yet processed into our list of directors.

Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ. See the directors and other office holders in the KBO →

Not every act has been read: a resignation may still be missing

1 of this company's 107 Belgian Official Gazette deeds has not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.

Mandate history

64 people since 2008, 31 in office

All 64 In office 31 Ended 33

Board
Day-to-day management
Statutory auditor
Other function
not recently confirmed
began earlier

Mandates per person, with start and end dates
Name	Functions and periods
LOUWAGIE Arne Gilbert	Lid van de raad van toezicht, from 19-11-2020 to date
SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT	Membre du conseil de surveillance, from 14-01-2021 to date
Federale Participatie- en Investeringsmaatschappij NV van openbaar nut / Société Fédérale de Participations et d'Investissements SA d'intérêt publicfrom an act	Membre du conseil de surveillance, from 29-04-2021 to date
GEMA	Lid van de raad van toezicht, from 02-06-2022 to date
Jessica Peters	Lid van de raad van toezicht, from 02-06-2022 to date
DANNEMOIS	Member of the management board, from 04-09-2024 to date Membre du conseil de direction, from 14-10-2024 to date
Edge4Growth	Membre du conseil de direction, from 01-11-2024 to date Member of the management board, from 01-11-2024 to date
Edge4Growth BVfrom an act	Membre du conseil de direction, from 17-12-2024 to date Member of the management board, from 17-12-2024 to date
VAN OCKENBURG CONSULTING	Membre du conseil de direction, from 02-05-2025 to date Member of the management board, from 02-05-2025 to date
NV PMV	Membre du conseil de surveillance, from 29-04-2026 to date
Sparaxis SA	Membre du conseil de surveillance, from 29-04-2026 to date
ELNE CONSULT	Membre du conseil de direction, from 11-05-2026 to date Member of the management board, from 11-05-2026 to date
DE DECKER Peter Paul J.	Membre du conseil de surveillance, from 31-08-2026 to date
Gecalo BV	Lid directiecomité, from 29-04-2019 to 31-10-2024 Lid directieraad, from 26-09-2022 to date Membre du conseil de direction, until 17-12-2024
B-G SRL	Lid directieraad, from 26-09-2022 to date
Romuald Billem	Auditor, from 27-09-2023 to date
Forvis Mazars Réviseurs d’Entreprises	Bedrijfsrevisor voor controleverslag inbreng in natura afgesplitste vermogen bij oprichting, from 20-08-2024 to date
Arnold DE BRAUWER	Director, from 27-02-2008 not ended, last confirmed 10-03-2008
DESCHЕЕМАЕСКER Marc Cyriel Lieven	Director, from 27-02-2008 not ended, last confirmed 10-03-2008
PAUWELS Geert Jozef Armand	Director, from 27-02-2008 not ended, last confirmed 10-03-2008
VERDICKT Dirk Maria Roger	Director, from 27-02-2008 not ended, last confirmed 10-03-2008
YSEBAERT Clair Robert	Director, from 27-02-2008 not ended, last confirmed 10-03-2008
SNCB Logistics SA	Director, from 26-10-2012 not ended, last confirmed 19-10-2015
G. Pauwels	Director, from before 14-06-2013 not ended, last confirmed 14-06-2013
B Logistics Holding NV	Director, from 28-06-2018 to 16-07-2026 Director, from 28-06-2018 not ended, last confirmed 18-07-2018 Membre du conseil de surveillance, until 17-08-2026
Geert PAUWELS	Président du conseil, from 07-06-2011 ended, last mentioned 30-09-2011 Director, until 30-12-2015 Managing director, from 24-02-2020 not ended, last confirmed 23-03-2020
Leap Time BVBA	Director, from 27-11-2015 to 19-11-2020 Managing director, from 28-06-2018 to 02-02-2022 Voorzitter van het directiecomité, from 01-07-2018 ended, last mentioned 18-07-2018 Lid directiecomité, from 24-02-2020 not ended, last confirmed 23-03-2020 Director, until 19-11-2020
MARCEAU	Director, from 27-11-2015 to 28-06-2018 Gedelegeerd bestuurder, from 27-11-2015 to 30-12-2015 Managing director, until 28-06-2018 Member of the executive committee, from 01-07-2018 not ended, last confirmed 18-07-2018
PEOPLE INVEST	Director, from 27-11-2015 to 28-06-2018 Member of the executive committee, from 01-07-2018 not ended, last confirmed 18-07-2018
NxtDD	Lid directiecomité, from 05-10-2018 to 26-09-2022 Lid directiecomité, from 05-10-2018 not ended, last confirmed 23-03-2020
MatSie	Lid directiecomité, from 01-01-2019 not ended, last confirmed 23-03-2020
Dorian Feron	Membre du conseil de surveillance, until 31-08-2026
Arné Louwagie	Membre du conseil de surveillance, until 16-07-2026 Membre du conseil de surveillance, until 17-08-2026
GEMA	Membre du conseil de surveillance, until 16-07-2026 Membre du conseil de surveillance, until 17-08-2026
Gilles Mougenot	Chair of the board, from 27-06-2018 ended, last mentioned 18-07-2018 Director, from 28-06-2018 to 20-08-2024 Membre du conseil de surveillance, until 16-07-2026 Membre du conseil de surveillance, until 17-08-2026
KROUPA Karel	Membre du conseil de surveillance, until 16-07-2026 Membre du conseil de surveillance, until 17-08-2026
PEETERS Jessica	Membre du conseil de surveillance, until 16-07-2026 Membre du conseil de surveillance, until 17-08-2026
Richard REIS	Director, from 28-06-2018 to 20-08-2024 Membre du conseil de surveillance, until 16-07-2026 Membre du conseil de surveillance, until 17-08-2026
BERNARD GUSTIN SRL	Member of the management board, from 03-02-2022 to 03-06-2025 Membre du conseil de direction, until 03-06-2025
C:Solutio BV	Lid directiecomité, from 01-11-2019 to 14-10-2024 Membre du conseil de direction, until 14-10-2024
B Logistics Holdings NV	Membre du conseil de surveillance, from before 28-06-2024 to 20-08-2024
The Future Is Bright BV	Membre du conseil de surveillance, until 19-06-2024
Lieven Acke	Statutory auditor, from 23-07-2014 to 27-09-2023
Mazars Bedrijfsrevisoren Burg. CVBA	Auditor, from 15-05-2014 to 27-09-2023
de heer Jan Luyten	Member of the executive committee, from 02-03-2020 to 26-09-2022
Lars Redeligx	Lid directiecomité, from 01-01-2020 to 26-09-2022
Jeroen Spruyt	Director, until 20-05-2021 Member of the executive committee, until 20-05-2021
Couvreur Pearl	Membre du conseil de surveillance, from 01-01-2021 to 14-01-2021
Henin Olivier	Director, from 28-06-2018 to 31-12-2020
KERCKAERT Koen	Director, from 28-06-2018 to 09-12-2019
Maarten MEIJSSEN	Director, from 28-06-2018 to 09-12-2019
WERNER KONINCKX	Director, from 27-11-2015 to 30-03-2017 Director, until 30-03-2017
LINEAS GROUP	Director, until 30-12-2015
Sam Bruynseels	Director, from 13-01-2014 to 30-12-2015 Managing director, from 13-01-2014 to 30-12-2015
KPMG Vias	Statutory auditor, from 11-05-2011 to 15-05-2014
PKF	Statutory auditor, from 23-02-2012 to 15-05-2014
Wilfried Moons	Daily management delegate, from 29-08-2012 to 13-01-2014 Director, from 26-10-2012 to 13-01-2014 Director, until 13-01-2014
Pascal Herroelen	Dags bestuurder, from 01-03-2010 to 29-08-2012 Voorzitter van het directiecomité, from 01-03-2010 ended, last mentioned 11-03-2010 Algemeen directeur, from 01-03-2010 to 29-08-2012 Board, until 30-04-2013
Seraf De Smedt	Director, from 20-04-2011 to 26-10-2012 Board, until 30-04-2013
José SYR	Director, until 07-12-2011 Director, until 30-10-2012
Nicolas LEEUW	Director, from 07-12-2011 to 26-10-2012
COUNET Albert Toussaint Gilbert Ghislain	Director, from 27-02-2008 to 11-05-2011 Managing director, until 01-03-2010 Lid en voorzitter van het directiecomité, until 01-03-2010 Lid en voorzitter van het directiecomité, until 01-03-2010
Jacky Bocquet	Director, until 11-05-2011
Marc DESCHEEMAECKER	Director, until 11-05-2011

Show all 64 people Show the first 12See the board, name and registered office on a given date →

The directors' other companies

2 current directors with another company that went bankrupt, was dissolved or struck off

SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT

2 other companies of this director went bankrupt (2019, 2025).

Air Belgium bankruptcy on 30-04-2025Official Gazettemandate since 2024
ELECTRAWINDS bankruptcy on 03-01-2019Official Gazettemandate since 2009

Sparaxis SA

1 other company of this director went bankrupt (2026).

Fonderies J. Marichal Ketin et Cie bankruptcy on 30-04-2026Official Gazettemandate until 2016

Source: Belgian Official Gazette (bankruptcies, judicial dissolutions, board mandates), FPS Economy (strike-offs) and the KBO register. A bankruptcy, dissolution or strike-off says nothing about the director's part in it. Only boards we have read from the Gazette; other companies may still be missing.

Owners and capital

Owners

2 owners

Chain of control

LINEAS GROUP NV consolidates
Louise Freight SALU 100%
B LOGISTICS HOLDING 53.58%
LINEAS GROUP 100%
LINEAS

Highest known parent: LINEAS GROUP NV. The sources do not say who stands above it.

Owners 2

LINEAS GROUPparent
Sourceown accounts 2025act 19-09-2025act 19-09-2025accounts LINEAS GROUP 2025

100%
LINEAS GROUP NVconsolidating parent
Sourceparent in own accounts 2025

consolidates

According to the 2025 annual accounts of LINEAS and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.

Capital and shareholders

Shareholders according to the deeds

After the capital increase act of 04-11-2025 ↗

LINEAS GROUP 56,355,076 shares · €61,000,000 · schuldvordering

Stated in the act act of 19-09-2025 ↗

LINEAS GROUP (BE 0822.966.806) enige aandeelhouder · all shares

Stated in the act act of 25-06-2025 ↗

Lineas Group NV

After the capital increase act of 12-05-2021 ↗

LINEAS GROUP

The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.

Capital over the years

19-06-2026 Capital increase of €20,000,000 · to €129,341,980.48 · 24,952,450 new shares · in cash
19-06-2026 Capital reduction of €61,466,582.67 · to €67,875,397.81
04-11-2025 Capital increase of €61,000,000 · to €147,661,380.75 · 56,355,076 new shares · in kind
04-11-2025 Capital reduction of €38,319,400.27 · to €109,341,980.48 · “aanzuivering van geleden verliezen”
19-09-2025 Capital reduction of €2,839,738.27 · to €86,661,380.75 · in a demerger
19-08-2024 Capital increase of €37,099,318.06 · to €120,144,017.83 · 24,722,511 new shares
19-08-2024 Capital reduction of €30,642,898.81 · to €89,501,119.02
27-03-2024 Capital increase of €52,183,707.18 · to €279,590,221.40 · 9,304,314 new shares

Show 11 older capital entries

27-03-2024 Capital increase of €11,400,000 · to €290,990,221.40 · 2,032,611 new shares
27-03-2024 Capital increase of €19,386,500 · to €310,376,721.40 · 3,456,598 new shares
14-12-2023 Capital reduction of €227,332,021.63 · to €83,044,699.77 · to absorb losses
30-11-2022 Capital increase of €150,438,852.08 · to €227,406,514.22 · in kind
12-07-2022 Capital reduction of €81,795,743 · to €76,967,662.14 · “aanzuivering van geleden verliezen”
12-05-2021 Capital increase of €129,711,359.93 · to €158,763,405.14
07-12-2020 Capital reduction of €89,094,555.39 · to €29,052,045.21 · to absorb losses
23-07-2014 Capital increase of €18,600 · to €118,146,600.60 · 63,444 new shares
04-02-2010 Capital increase of €8,589,431.68 · 177,568 new shares · in kind
26-05-2008 Capital increase of €4,499,955.44 · to €109,558,568.92
10-03-2008 Incorporation · €11,497,964.94