Summary
NEWTREE is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €24.4m and a net result of -€2.9m. Equity is growing by about 50% per year across the filed financial years. Its solvency ranks better than 91% of 3,016 sector peers (NACE 64, financial year 2025). The company has been active since 2001 and the Belgian Official Gazette contains no insolvency or warning signals.
History
On 2 April 2001, NEWTREE was incorporated.1 The capital was increased 19 times between 2004 and 2026, most recently to €9.2m.234 The registered office moved to Watermael-Boitsfort in 2015, to Bruxelles in 2020 and to Watermael-Boitsfort in 2022.567 Of the 9 current board members, 2 have served since 2011.8 Total assets went from €6.7m in 2018 to €24.8m in 2025 and headcount from 2.7 to 2.3 full-time equivalents.9
- 1KBO register
- 2Belgian Official Gazette, 20-07-2004
- 3Belgian Official Gazette, 22-01-2026
- 4Belgian Official Gazette, 23-01-2026
- 5Belgian Official Gazette, 23-03-2015
- 6Belgian Official Gazette, 29-06-2020
- 7Belgian Official Gazette, 22-04-2022
- 8Belgian Official Gazette, 21-09-2021
- 9National Bank, annual accounts 2018 and 2025
Acts, filings and financial milestones
23-01
Gazette deed
Capital & shares · Amendment of the articlesAuditor report · Capital increase · Capital contribution25 facts ▸
- Board meeting, 19-12-2025
- Other provision, “dispense de lecture des rapports préalables à augmentation de capital, dispense à l'unanimité le Président de donner lecture” (deed in French)
- Auditor report, 18-12-2025
- Other provision, “conseil d’administration, un exemplaire restera ci-annexé” (deed in French)
- Other provision, “suppression du droit de préférence, intérêt social” (deed in French)
- Other provision, “bénéficiaire suppression droit de préférence” (deed in French) (16 times)
- Capital increase, €2,478,461.76
- Capital contribution, €2,499,998.80
- Capital contribution, €2,000,000.60
- Capital contribution, €599,999.40
- Capital contribution, €500,000.80
- Capital contribution, €399,999.60
- +13 further facts in this act
22-01
Gazette deed
Capital & shares · Amendment of the articlesShare issue · Bank account · Capital increase7 facts ▸
- Share issue, “integrally including premium”, 403846 (deed in French)
- Bank account, 19-12-2025
- Other provision, “relevé des souscriptions, annexed” (deed in French)
- Capital increase, €290,769.12
- Other provision, “affectation prime d'émission”, 759230.48 (deed in French)
- Amendment of the articles, 6
- Power of attorney (3 times)
30-10
Gazette deed
Capital & shares · Resignations & appointmentsDeclaration · Auditor report · Approval11 facts ▸
- Board meeting, 19-09-2025
- Other provision, “unanimité, dispense de lecture du rapport spécial du conseil d'administration” (deed in French)
- Declaration, “réception copie rapport du conseil d'administration, chaque administrateur présent ou représenté reconnaît avoir reçu copie préalablement et en avoir pris conna…” (deed in French)
- Other provision, “unanimité, dispense de lecture du rapport spécial du réviseur d'entreprises” (deed in French)
- Auditor report, 19-09-2025
- Declaration, “réception copie rapport du réviseur d'entreprises, chaque administrateur présent ou représenté reconnaît avoir reçu copie préalablement et en avoir pris connais…” (deed in French)
- Approval, “rapport spécial du conseil d'administration point 1.1, augmentation du capital avec suppression du droit de préférence en numéraire” (deed in French)
- Capital increase
- Other provision, “suppression du droit de préférence, intérêt social” (deed in French)
- Other provision, “détermination des modalités et des conditions de l'émission, non reproduit (...)” (deed in French)
- Power of attorney (2 times)
26-09
Gazette deed
Reappointments: SRLTREETOP, SA WHITESTONE GROUP and 7 others11 facts ▸
- Director in office, Benoît DE BRUYN (director)
- General meeting, “assemblée générale ordinaire” (deed in French)
- Director reappointment, SRLTREETOP (managing director)
- Director reappointment, SA WHITESTONE GROUP (director)
- Director reappointment, Frédéric POUCHAIN (director)
- Director reappointment, Emilie DALLEMAGNE (director)
- Director reappointment, Bruno COLMANT (director)
- Director reappointment, Thibaud DE SAINT-QUENTIN (director)
- Director reappointment, Michael BAUM (director)
- Director reappointment, Udaiyan JATAR (director)
- Director reappointment, Raymond VAXELAIRE (director)
03-04
Gazette deed
Reappointments: WHITSTONE GROUP, TreeTop SPRL and 6 others9 facts ▸
- General meeting, “assemblée générale ordinaire” (deed in French)
- Director reappointment, WHITSTONE GROUP (director)
- Director reappointment, TreeTop SPRL (managing director)
- Director reappointment, Emilie DALLEMAGNE (director)
- Director reappointment, Bruno COLMANT (director)
- Director reappointment, Thibaud DE SAINT-QUENTIN (director)
- Director reappointment, Michael BAUM (director)
- Director reappointment, Udaiyan JATAR (director)
- Director reappointment, Raymond VAXELAIRE (director)
05-07
Gazette deed
Capital & shares · Amendment of the articlesShare issue · Capital increase · Capital7 facts ▸
- Other provision, 02-07-2024
- General meeting, 28-06-2024
- Share issue, 689656, “même droits et avantages que les actions existantes” (deed in French)
- Capital increase, €496,552.32
- Other provision, “compte indisponible Prime d'émission” (deed in French)
- Capital, €6,460,838.83
- Power of attorney (2 times)
16-05
Gazette deed
Amendment of the articles · NameCapital increase · Power of attorney · Authorised capital11 facts ▸
- General meeting, 13-05-2024
- Amendment of the articles, 1
- Capital increase, €1,241,352
- Other provision, “suppression du droit de préférence, suppression” (deed in French)
- Power of attorney, Spreds Finance SA
- Power of attorney, Ecco Nova
- Power of attorney (2 times)
- Authorised capital, “augmentations de capital en une ou plusieurs fois,émettre des obligations convertibles ou des droits de souscription, renouvellement” (deed in French)
- Other provision, “rachat et aliénation d'actions propres”, 13 (deed in French)
- Amendment of the articles
- Capital, €5,964,286.51
24-04
Gazette deed
Appointment: Bruno COLMANT (director)Reappointments: TreeTop SPRL, Emilie DALLEMAGNE and 5 others · Resignation: Pascal HOUSSIN (director)11 facts ▸
- Board meeting, 05-01-2023
- Director appointment, Bruno COLMANT (director)
- Director reappointment, TreeTop SPRL (managing director)
- Director reappointment, Emilie DALLEMAGNE (director)
- Director reappointment, Bruno COLMANT (director)
- Director reappointment, Thibaud DE SAINT-QUENTIN (director)
- Director reappointment, Michael BAUM (director)
- Director reappointment, Udaiyan JATAR (director)
- Director reappointment, Raymond VAXELAIRE (director)
- General meeting, “06.VI.2023” (deed in French)
- Director resignation, Pascal HOUSSIN (director)
24-04
Gazette deed
Capital & sharesCapital contribution · Share issue5 facts ▸
- Capital contribution
- Other provision, “valeur des fonds propres au 31-12-2023 du Feeder Santé Nutrition Sàrl qui reprend l'actif net réévalué du fonds VWNP Fund II,LP à la même date, origine et mode…” (deed in French)
- Share issue, 536571, 499065.34
- Other provision, “attestation de correspondance des valeurs d'apport”, EUR (deed in French)
- Other provision, “absence de circonstance particulière nouvelle susceptible d'influencer l'évaluation initiale” (deed in French)
Show earlier events
22-03
Gazette deed
Capital & shares · Amendment of the articlesAuditor report · Declaration · Capital increase14 facts ▸
- Board meeting, 19-03-2024
- Other provision, “rapports point 1.1 a et b, dispense de lecture des rapports” (deed in French)
- Auditor report, 12-03-2024
- Declaration, “réception des rapports, reçu copie préalablement et pris connaissance” (deed in French)
- Other provision, “annexe des rapports, exemplaire restera ci-annexé” (deed in French)
- Board meeting, “augmentation de capital en nature résolution n°2, augmentation avec suppression du droit de préférence en numéraire résolution n°3” (deed in French)
- Capital increase, €386,331.12
- Share issue, “nominatives”, 536571 (deed in French)
- Capital (2 times)
- Other provision, “affectation prime d'émission au compte indisponible Prime d'émission, Prime d'émission” (deed in French) (2 times)
- Authorised capital, “use” (deed in French)
- Capital increase, €920,928.24
- +2 further facts in this act
14-03
Gazette deed
Reappointments: TreeTop SPRL, Emilie DALLEMAGNE and 5 others8 facts ▸
- General meeting, “07.Vi.2022, assemblée générale ordinaire” (deed in French)
- Director reappointment, TreeTop SPRL (managing director)
- Director reappointment, Emilie DALLEMAGNE (director)
- Director reappointment, Pascal HOUSSIN (director)
- Director reappointment, Thibaud DE SAINT-QUENTIN (director)
- Director reappointment, Michael BAUM (director)
- Director reappointment, Udaiyan JATAR (director)
- Director reappointment, Raymond VAXELAIRE (director)
10-03
Gazette deed
Resignation: Pascal HOUSSIN (director)Appointment: Bruno COLMANT (director)4 facts ▸
- Board meeting, 10-01-2023
- Director resignation, Pascal HOUSSIN (director)
- Director appointment, Bruno COLMANT (director)
- Director in office, TreeTop s.p.r.l. (managing director)
31-01
Gazette deed
Capital & shares · Amendment of the articlesAuditor report · Authorised capital · Capital increase12 facts ▸
- Board meeting, 26-01-2023
- Other provision, “dispense de lecture des rapports, unanimité dispense Président” (deed in French)
- Auditor report, 23-01-2023
- Other provision, “exemplaire rapports restera ci-annexé,réception préalable reconnue, approbation rapport conseil d’administration” (deed in French)
- Other provision, “suppression droit de préférence, augmentation capital en numéraire” (deed in French) (12 times)
- Authorised capital, “usage, assemblée générale des actionnaires” (deed in French)
- Capital increase, €1,296,000
- Capital, €4,657,027.15
- Other provision, “affectation prime d’émission au compte indisponible Prime d'émission”, 2984224.32 (deed in French)
- Amendment of the articles, 5
- Amendment of the articles, 6
- Power of attorney
22-04
Gazette deed
Registered office · Capital & shares · Amendment of the articlesCapital increase · Capital · Registered-office move7 facts ▸
- General meeting, 14-04-2022
- Capital increase, €1,241,430.48
- Capital, €3,361,027.15
- Registered-office move, Boulevard du Souverain, 24 à 1170 Watermael-Boitsfort
- Amendment of the articles (6 times)
- Power of attorney, Dominique BERTOUILLE
- Power of attorney, NEWTREE
29-09
Gazette deed
Capital & shares · Amendment of the articlesPower of attorney · Capital increase · Capital7 facts ▸
- Board meeting, 16-09-2021
- Power of attorney, Treetop
- Power of attorney, Raymond VAXELAIRE
- Capital increase, €302,400
- Capital, €2,119,596.67
- Amendment of the articles
- Suppression preemptive rights, “Suppression du droit de préférence dans l'intérêt social en faveur de : CATALANFIN, WHITESTONE PARTNERS, van RIJCKEVORSEL, de WALQUE, de Bruyn, MEEUS, VEROUGSTR…” (deed in French)
21-09
Gazette deed
Reappointments: TreeTop s.p.r.l., Emilie DALLEMAGNE and 5 others8 facts ▸
- General meeting, 01-06-2021
- Director reappointment, TreeTop s.p.r.l. (managing director)
- Director reappointment, Emilie DALLEMAGNE (director)
- Director reappointment, Pascal HOUSSIN (director)
- Director reappointment, Thibaud DE SAINT-QUENTIN (director)
- Director reappointment, Michael BAUM (director)
- Director reappointment, Udaiyan JATAR (director)
- Director reappointment, Raymond VAXELAIRE (director)
07-04
Gazette deed
Permanent representative: Benoît de BruynPower of attorney · Capital increase · Share issue8 facts ▸
- Board meeting, 05-03-2021
- Power of attorney, Treetop
- Power of attorney, Raymond VAXELAIRE
- Permanent representative, Benoît de Bruyn
- Capital increase, €440,844.48
- Share issue, “actions sans mention de valeur nominale”, 612284 (deed in French)
- Capital, €1,817,196.67
- Amendment of the articles
15-02
Gazette deed
RestructuringPermanent representative: Benoît de BRUYN · Appointment: RSM Inter Audit (statutory auditor) · Demerger16 facts ▸
- Board meeting, 13-01-2021
- Demerger, “Apport de branches d'activité (chocolat, café, points de vente) à une société bénéficiaire à créer (probablement NEWTREE Groupe)” (deed in French)
- Board composition, TreeTop (director)
- Permanent representative, Benoît de BRUYN
- Board composition, Pascal HOUSSIN (director)
- Board composition, Thibaud de SAINT-QUENTIN (director)
- Board composition, Michael Joseph BAUM (director)
- Board composition, Udaiyan JATAR (director)
- Board composition, Raymond VAXELAIRE (director)
- Board composition, Emilie DALLEMAGNE (director)
- Accounting effect, 01-01-2021
- Auditor appointment, RSM Inter Audit
- +4 further facts in this act
24-08
Gazette deed
Reappointments: TreeTop SPRL, Pascal HOUSSIN and 4 othersAppointment: Emilie DALLEMAGNE (director)8 facts ▸
- General meeting, 02-06-2020
- Director reappointment, TreeTop SPRL (managing director)
- Director reappointment, Pascal HOUSSIN (director)
- Director reappointment, Thibaud DE SAINT-QUENTIN (director)
- Director reappointment, Michael BAUM (director)
- Director reappointment, Udaiyan JATAR (director)
- Director reappointment, Raymond VAXELAIRE (director)
- Director appointment, Emilie DALLEMAGNE (director)
30-07
Gazette deed
Permanent representative: Benoît de BruynPower of attorney · Capital increase · Capital8 facts ▸
- Board meeting, 30-06-2020
- Power of attorney, Treetop
- Power of attorney, Thibaud de Saint-Quentin
- Permanent representative, Benoît de Bruyn
- Capital increase, €139,356.72
- Capital, €1,376,352.19
- Amendment of the articles
- Power of attorney, Sophie Maquet
29-06
Gazette deed
Registered office · Capital & shares · Amendment of the articlesReserve release · Capital increase · Capital8 facts ▸
- General meeting, 02-06-2020
- Reserve release, “Réduction du compte prime d'émission pour incorporation des pertes reportées” (deed in French)
- Capital increase, €232,259.04
- Capital, €1,236,995.47
- Registered-office move, Place du Luxembourg, 4, 1050 Bruxelles
- Amendment of the articles (3 times)
- Power of attorney, NEWTREE
- Authorised capital, “augmentations de capital, obligations convertibles, droits de souscription”, EUR (deed in French)
19-04
Gazette deed
Capital & shares · Amendment of the articlesCapital increase · Share issue · Capital7 facts ▸
- General meeting, 28-03-2018
- Capital increase, €54,380.25
- Share issue, “actions nouvelles”, 75522 (deed in French)
- Capital, €1,004,736.43
- Warrant issuance, “warrants”, 125870 (deed in French)
- Amendment of the articles
- Power of attorney, Conseil d'administration
08-09
Gazette deed
Capital & shares · Amendment of the articles · Resignations & appointmentsShare issue · Capital increase · Capital5 facts ▸
- Share issue, “warrants exercised”, 11100 (deed in French)
- Capital increase, €7,992.65
- Capital, €950,356.18
- Amendment of the articles
- Power of attorney, Catherine de Buck Van Overstraeten
25-05
Gazette deed
Reappointments: TreeTop s.p.r.l., Pascal HOUSSIN and 4 others7 facts ▸
- General meeting, 02-06-2015
- Director reappointment, TreeTop s.p.r.l. (managing director)
- Director reappointment, Pascal HOUSSIN (director)
- Director reappointment, Thibaud DE SAINT-QUENTIN (director)
- Director reappointment, Michael BAUM (director)
- Director reappointment, Udaijan JATAR (director)
- Director reappointment, Raymond VAXELAIRE (director)
19-06
Gazette deed
Capital & shares · Amendment of the articlesCapital increase · Reserve creation · Capital5 facts ▸
- General meeting, 02-06-2015
- Capital increase, €36,000
- Reserve creation, 364000.00, “Prime d'émission” (deed in French)
- Amendment of the articles
- Capital, €942,360.61
10-06
Gazette deed
Reappointments: TreeTop SPRL, Pascal HOUSSIN and 4 others7 facts ▸
- General meeting
- Director reappointment, TreeTop SPRL (managing director)
- Director reappointment, Pascal HOUSSIN (director)
- Director reappointment, Thibaud DE SAINT-QUENTIN (director)
- Director reappointment, Michael BAUM (director)
- Director reappointment, Udaijan JATAR (director)
- Director reappointment, Raymond VAXELAIRE (director)
23-03
Gazette deed
Registered office · Resignations & appointmentsRegistered-office move2 facts ▸
- Board meeting, 21-01-2015
- Registered-office move, boulevard du Souverain 68 à 1170 Watermael-Boitsfort
03-10
Gazette deed
Capital & shares · Amendment of the articlesCapital increase · Capital4 facts ▸
- General meeting, 08-09-2014
- Capital increase, €33,333.12
- Capital, €906,360.61
- Amendment of the articles
23-12
Gazette deed
Resignations: Jehanne de Walque (director) and Bernard Goret (director)Appointment: Raymond Vaxelaire (director) · Capital increase · Capital7 facts ▸
- General meeting, 28-11-2013
- Capital increase, €6,666.48
- Capital increase, €33,333.84
- Capital, €873,027.49
- Director resignation, Jehanne de Walque (director)
- Director resignation, Bernard Goret (director)
- Director appointment, Raymond Vaxelaire (director)
15-02
Gazette deed
Reappointments: TreeTop s.p.r.l., Jehanne DE WALQUE and 5 others8 facts ▸
- General meeting, 05-06-2012
- Director reappointment, TreeTop s.p.r.l. (managing director)
- Director reappointment, Jehanne DE WALQUE (director)
- Director reappointment, Bernard GORET (director)
- Director reappointment, José ZURSTRASSEN (director)
- Director reappointment, Thibaut DE SAINT-QUENTIN (director)
- Director reappointment, Michael BAUM (director)
- Director reappointment, Udaiyan JATAR (director)
14-02
Gazette deed
Resignation: José Zurstrassen (director)2 facts ▸
- Board meeting, 08-09-2012
- Director resignation, José Zurstrassen (director)
31-08
Gazette deed
Appointment: Pascal Houssin (administrateur coopté)Capital increase · Reserve creation · Capital5 facts ▸
- General meeting, 06-08-2012
- Capital increase, €51,428.88
- Reserve creation, 448.574,12, “PRIME D'EMISSION” (deed in French)
- Capital, €833,027.17
- Director appointment, Pascal Houssin (administrateur coopté)
22-05
Gazette deed
Reappointment: RSM Interaudit Société civile s.f.d.S.C.R.L. (statutory auditor)Resignations: Geneviève BRUYNSEELS, Raymond VAXELAIRE and Roger SLEIJPEN · Appointments: Udaiyan JATAR (director) and Michael BAUM (director) · Director discharge10 facts ▸
- General meeting, 07-06-2011
- Auditor reappointment, RSM Interaudit Société civile s.f.d.S.C.R.L.
- Director resignation, Geneviève BRUYNSEELS (director)
- Director resignation, Raymond VAXELAIRE (director)
- Director resignation, Roger SLEIJPEN (director)
- Director discharge, Geneviève BRUYNSEELS
- Director discharge, Raymond VAXELAIRE
- Director discharge, Roger SLEIJPEN
- Director appointment, Udaiyan JATAR (director)
- Director appointment, Michael BAUM (director)
02-08
Gazette deed
Capital & sharesShare cancellation · Share issue · Capital increase5 facts ▸
- General meeting, 28-06-2011
- Share cancellation, 83333, “33.333 warrants (2005) + 50.000 warrants (2007)” (deed in French)
- Share issue, “warrants”, 100000 (deed in French)
- Capital increase, “€corresponding to the exercise of the subscription rights” (deed in French)
- Power of attorney, NEWTREE
01-09
Gazette deed
Resignations: Bruno Colmant (director) and Philippe Pellegrino (director)Appointments: Thibaut de Saint-Quentin (director) and Geneviève Bruynseels (independent director) · Director discharge · Power of attorney9 facts ▸
- General meeting, 03-06-2008
- Director resignation, Bruno Colmant (director)
- Director discharge, Bruno Colmant
- Director resignation, Philippe Pellegrino (director)
- Director discharge, Philippe Pellegrino
- Director appointment, Thibaut de Saint-Quentin (director)
- Board meeting, 17-06-2008
- Director appointment, Geneviève Bruynseels (independent director)
- Power of attorney, TreeTop s.p.r.l.
04-07
Gazette deed
Amendment of the articles · Resignations & appointments2 facts ▸
- General meeting, 03-06-2008
- Amendment of the articles (3 times)
14-01
Gazette deed
MiscellaneousAmendment of the articles · Power of attorney2 facts ▸
- Amendment of the articles
- Power of attorney, Euroclear Belgium (C.I.K. SA)
06-04
Gazette deed
Capital & shares · Amendment of the articlesCapital increase · Share issue · Capital6 facts ▸
- General meeting, 15-11-2005
- Capital increase, €12,025.55
- Share issue, “actions nouvelles”, 16700 (deed in French)
- Capital, €569,209.09
- Amendment of the articles
- Subscription period, 14-02-2006
20-07
Gazette deed
Capital & shares · Amendment of the articlesCapital increase · Power of attorney · Share payment6 facts ▸
- General meeting, 02-07-2004
- Amendment of the articles (2 times)
- Capital increase, €15,408.33
- Capital increase, €161,451.67
- Power of attorney, AFCO
- Share payment, “Les 239 nouvelles actions (68 groupe A + 171 groupe B) sont libérées à concurrence de la totalité” (deed in French)
21-06
Gazette deed
Resignation: Benoît de BRUYN (director and managing director)Appointment: TREETOP (director and managing director) · Permanent representative: Benoît de BRUYN · Power of attorney6 facts ▸
- Board meeting, 25-02-2004
- Director resignation, Benoît de BRUYN (director and managing director)
- Director appointment, TREETOP (director and managing director)
- Permanent representative, Benoît de BRUYN
- Director appointment, TREETOP (présidence du conseil d'administration)
- Power of attorney, TREETOP
16-02
Gazette deed
Amendment of the articles · MiscellaneousCompany name · Legal form · Registered office4 facts ▸
- Company name, NEWTREE
- Legal form, “Société Anonyme” (deed in French)
- Registered office, Avenue Roger Vandendriessche, 9 à 1150 Bruxelles
- Enterprise number, 0474.468.867