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Morrow

Active
Public limited companyfounded 2016active for 10 yearsFrieda Saeysstraat 1, 9052 Gent, BelgiumKBO/BCE: BE 0656.997.628
Summary

The annual accounts of Morrow for financial year 2025 show a net loss of 156% of total assets and of 211% of the equity at the start of that year. The 2025 annual accounts show equity of €1.8m and a net result of -€4.2m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 76% of 868 sector peers (NACE 71, financial year 2025). The company has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.5% (low).

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MorrowActiveChecked score 55/100
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Directors

Directors
8 directors, 2 in day-to-day management, no change since 2026

Board 8

imec.xpand
Director · since 27-07-2018 · Limited partnership · permanent representative: Peter Lambert VANBEKBERGEN
Current
Jean Pierre Philippe Bizet
Soort a investeerder bestuurder · since 27-07-2018
Current
Frederiek Ysebaert
Director · since 31-07-2024
Current
QBIC Venture Partners
Director · since 23-01-2025 · Private limited company (pre-2019) · permanent representative: DE PRYCKER Martin Louis
Current
TOKAI OPTECS NV
Director · since 23-01-2025 · Legal entity · permanent representative: LEURIDAN Kurt Piet
Current
Jean Pierre Bizet
Director · since 11-06-2025
Current
PARTICIPATIEMAATSCHAPPIJ VLAANDEREN
Soort a investeerder bestuurder · Legal entity · permanent representative: Thomas BEKE
Current
Soup-Tech Holding B.V.
Independent director · Legal entity · permanent representative: Arie Jan OVERWATER
Current
2 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.
Peter Lambert VANBEKBERGEN
Director · since 05-07-2016
Not recently confirmed
Chestnut Ventures
Director · Private limited company (pre-2019) · permanent representative: Paul Marchal
Not recently confirmed

Day-to-day management 2

Chestnut Ventures
Day-to-day manager · since 15-07-2016 · Private limited company (pre-2019) · permanent representative: Paul Marchal
Current
Frederiek Ysebaert
Day-to-day manager · since 01-07-2024
Current

Permanent representatives 5

Peter Lambert VANBEKBERGEN
Permanent representative · since 27-07-2018 · for imec.xpand
Current
DE PRYCKER Martin Louis
Permanent representative · since 23-01-2025 · for QBIC Venture Partners
Current
LEURIDAN Kurt Piet
Permanent representative · since 23-01-2025 · for TOKAI OPTECS NV
Current
Arie Jan OVERWATER
Permanent representative · for Soup-Tech Holding B.V.
Current
Thomas BEKE
Permanent representative · for PARTICIPATIEMAATSCHAPPIJ VLAANDEREN
Current
1 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.
Paul Marchal
Permanent representative · for Chestnut Ventures
Not recently confirmed

Statutory auditor 1

BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES
Auditor · since 27-07-2018
Current
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 →

Mandate history

18 people since 2016, 11 in office
Show
  • Board
  • Day-to-day management
  • Permanent representative
  • Statutory auditor
  • not recently confirmed
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
PARTICIPATIEMAATSCHAPPIJ VLAANDEREN
  • Director, from 05-07-2016 to 23-01-2025
  • Soort a investeerder bestuurder, from 10-06-2022 to date
QBIC Venture Partners
  • Director, from 05-07-2016 to 10-06-2022
  • Director, from 23-01-2025 to date
imec.xpand
  • Director, from 27-07-2018 to date
Jean Pierre Philippe Bizet
  • Director, from 27-07-2018 to date
TOKAI OPTECS NV
  • Director, from 27-07-2018 to 10-06-2022
  • Director, from 23-01-2025 to date
Soup-Tech Holding B.V.
  • Independent director, from 10-06-2022 to 18-07-2023
  • Independent director, from 10-06-2022 to date
Frederiek Ysebaert
  • Day-to-day manager, from 01-07-2024 to date
  • Director, from 31-07-2024 to date
Jean Pierre Bizet
  • Director, since before 11-06-2025
Chestnut Ventures
  • Director, from 24-06-2016 to 15-07-2024
  • Day-to-day manager, from 15-07-2016 to date
BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES
  • Auditor, from 27-07-2018 to date
Peter Lambert VANBEKBERGEN
  • Director, from 05-07-2016 not ended, last confirmed 04-08-2016
CARL ZEISS VENTURE BETEILIGUNGSGESELLSCHAFT MBH
  • Soort b1 investeerder bestuurder, from 10-06-2022 to 23-01-2025
imec.xpand CommV.
  • Director, until 23-01-2025
Luna Ventures BVBA
  • Director, from 24-06-2016 to 10-06-2022
Kurt Leuridan
  • Permanent representative, until 03-07-2020
Diane Lejeune
  • Permanent representative, until 02-06-2020
Peter Vanbekbergen
  • Director, until 27-07-2018
VALKUR BVBA
  • Director, from 05-07-2016 to 27-07-2018
See the board, name and registered office on a given date →

The directors' other companies

1 current director with another company that went bankrupt, was dissolved or struck off
PARTICIPATIEMAATSCHAPPIJ VLAANDEREN

1 other company of this director went bankrupt (2019).

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

3 owners

Owners 3

Sources: the companies' annual accounts, 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
At incorporation act of 29-06-2016 ↗
  • MARCHAL Paul Wilfried Cecile founder
  • DE SMET Jelle 307,500 shares (50%)
  • MARCHAL Paul 307,500 shares (50%)

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

Capital over the years
  1. 17-04-2026 Capital increase of €2,119,998.89 · to €8,931,392.73 · 7,310,341 new shares · in cash
  2. 04-09-2025 Capital increase of €2,002,500 · to €6,811,393.84 · 6,905,170 new shares
  3. 10-02-2025 Capital increase of €2,002,500 · to €13,495,309.28 · 6,905,170 new shares · in cash
  4. 10-02-2025 Capital increase of €13,815,878.13 · to €27,311,187.41 · from reserves
  5. 10-02-2025 Capital reduction of €22,502,293.57 · to €4,808,893.84 · “aanzuivering van geleden verliezen”
  6. 06-09-2024 Capital increase of €0.20 · to €11,492,809.28 · 641,518 new shares
  7. 23-08-2024 Capital increase of €2,500,000 · to €11,492,809.08 · 1,724,136 new shares
  8. 27-05-2024 Capital increase of €0.20 · to €10,240,590.41 · 641,518 new shares
Show 9 older capital entries
  1. 10-05-2024 Capital increase of €1,311,907.86 · to €10,240,590.21 · 1,724,136 new shares
  2. 15-06-2022 Capital increase of €1,611,118.72 · to €6,796,702.72 · 2,117,365 new shares
  3. 15-06-2022 Capital increase of €2,131,979.63 · to €8,928,682.35 · 2,801,891 new shares
  4. 14-07-2020 Capital stated in the deed · €5,185,584 · 6,815,000 shares
  5. 20-11-2019 Capital increase of €1,712,042 · to €5,185,584 · 2,250,000 new shares
  6. 27-08-2018 Capital increase of €1,712,042 · to €3,473,542 · 2,250,000 new shares
  7. 04-08-2016 Capital increase of €350,000 · to €411,500 · 350,000 new shares · in kind
  8. 04-08-2016 Capital increase of €1,350,000 · to €1,761,500 · 1,350,000 new shares · in cash
  9. 29-06-2016 Incorporation · €61,500 · 615,000 shares

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