Equity
€4.18bn ▲ 159%
Equity rose in 2025: capital increase.
Participatiemaatschappij Vlaanderen
Lifetime
20 annual accounts with figures on one time axis, 30 filings since 1996peak €16.8m (2025)
€16.8m▲ 38.6%
lowest -€9.7m (2008)
€17.2m▼ 36.5%
peak €4.18bn (2025)
€4.18bn▲ 159%
€56.0m▲ 329%
peak 131.9 FTE (2025)
131.9 FTE▲ 4.6%
Board43 names since 2007all names
9 directorsPeter Verhaeghe and 8 others
Documentsfilings and deeds
22-05-202670 days before the deadline
2025financial year
Turnover from €12.1m to €16.8mResult from €27.2m to €17.2mCapital increase of €2,553,634,455.29 to €4,329,461,941.54 29-123 directors appointed, 9 resignations, 1 statutory auditor re… 11-07Powers of attorney: Koen Kennis, Michel Casselman and 22 others 28-05Dividend €3.8m
Key points
from the 2025 annual accountsDebts
€56.0m ▲ 329%
Debts rose by €42.9m in 2025. A dividend stands under other debts on the balance sheet date until it is paid.
Payment terms
41 days to suppliers
Participatiemaatschappij Vlaanderen pays its suppliers 72 days earlier than in 2024. Customers pay 17 days earlier.
At the same address
50 companies
Group
18 companies controlled
Heads a group.
Board
4 joined · 2 left
Board changed. Latest change 15-02-2026 · 7 in office.
Financial institution: outside the modelBankruptcy probability: sector outside the modelStandalone figures, without subsidiaries
Group, consolidated 2025: turnover €682.0m, result €18.1m
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
Credit check for an amount and term of your choice
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.
Signals
1 signal, which does not raise the risk
1 signal.
neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-05-2026, 70 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
70 days early
2024
69 days early
2023
65 days early
2022
75 days early
2021
75 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 71 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 22 May (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
and 2 others
- Vlaams Gewest all the sharesdeed of 10-04-2020
Shares in 146 companies, including AQUAFIN and ARKIMEDES MANAGEMENT
Board & ownershipRecent changes
Capital increase · Amendment of the articles
Capital from 4311611941.54 to 4354958961.54 · General meeting of 31-07-2026 · Gazette deed
Capital decrease of €17,850,000 to €4,311,611,941.54
Capital from €4,329,461,941.54 to €4,311,611,941.54 · Gazette deed
2 directors appointed, 4 resignations, 2 reappointments
Resignations: Sophie Manigart, Lucien Gijsens, Peter Verhaeghe and Karine Moykens · Reappointments: Sophie Manigart (independent director) and Peter Verhaeghe (independent director) · Appointments: Hilde Famaey (independent director) and Jan Hollez (independent director) · General meeting of 23-12-2025 · Gazette deed
Capital increase of €2,553,634,455.29 to €4,329,461,941.54
Capital from €1,775,827,486.25 to €4,329,461,941.54 · General meeting of 05-12-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Participatiemaatschappij Vlaanderen Brussels | €16.8m | -98.9% | 98.7% | 131.9 |
| Aliaxis Holdings Ixelles | €105.4m | -12.5% | 52.6% | 146.3 |
| NLMK BELGIUM HOLDINGS La Louvière | €31.6m | -15.6% | 46.3% | 72.3 |
| ARGENTA BANK - EN VERZEKERINGSGROEP Antwerp | - | - | 94.2% | 129.2 |
| Drylock Technologies Zele | €14.1m | 25.4% | 81.9% | 52.5 |
| ETEX Zaventem | €58.7m | 2.9% | 61.7% | 100.5 |
| SARENS BESTUUR Meise | €29.2m | 17.2% | 18.6% | 68.8 |
Grey: the largest companies of the sector (financial services (NACE 64)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Participatiemaatschappij Vlaanderen: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €508m and €3.3bn, founded between 1947 and 2003.
Official details
Source: KBO- Status
- Active since 31-07-1995Normal situation
- Registered office
- 51 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 8 November 2026.
- Activity
- Activities of holding companiesNACE 64210and 1 other
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.113.438.5721000 Brussels, since 04-09-2002
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- €4.24bn▲ 161%
- Employeeson 31-12-2025
- 143▲ 4.4%
- Filing
- Filed on 22-05-2026, 70 days before the end of the filing period
Companies linked to Participatiemaatschappij Vlaanderen
Subsidiaries and holdings
- BIOTECH FONDS VLAANDEREN100%
- LAK INVEST100%
- PMV - Standaardleningen100%
- PMV - Standaardwaarborgen100%
- PMV Corporate Loans100%
- PMV Fund Management100%
- Roadrunner Invest100%
- SUSTAINABLE ENERGY VENTURES100%
Insights on Participatiemaatschappij Vlaanderen
Participatiemaatschappij Vlaanderen has existed since 1995. Turnover grew from €1.3m in 2006 to €16.8m in 2025 and staff from 21 to 131.9 full-time equivalents.
Turnover has grown every year since 2018.
In July 2025, five directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Participatiemaatschappij Vlaanderen
- What is the company number of Participatiemaatschappij Vlaanderen?
- The company number of Participatiemaatschappij Vlaanderen is 0455.777.660. The VAT number is the same number with BE in front: BE 0455.777.660.
- Where is Participatiemaatschappij Vlaanderen based?
- The registered office is at Oude Graanmarkt 63, 1000 Brussels.Company details
- What does Participatiemaatschappij Vlaanderen do?
- According to the KBO register, the main activity is activities of holding companies (NACE 64210).
- What is the legal form of Participatiemaatschappij Vlaanderen?
- Participatiemaatschappij Vlaanderen is a public limited company (NV).
- When was Participatiemaatschappij Vlaanderen founded?
- Participatiemaatschappij Vlaanderen was founded on 31-07-1995.
- Is Participatiemaatschappij Vlaanderen still active?
- Yes, Participatiemaatschappij Vlaanderen is an active enterprise in the KBO register.
- How many employees does Participatiemaatschappij Vlaanderen have?
- Participatiemaatschappij Vlaanderen had an average of 131.9 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Participatiemaatschappij Vlaanderen fall under?
- In its 2025 annual accounts, Participatiemaatschappij Vlaanderen states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of Participatiemaatschappij Vlaanderen?
- The turnover of Participatiemaatschappij Vlaanderen was €16.8m in financial year 2025, according to the filed annual accounts.
- Is Participatiemaatschappij Vlaanderen profitable?
- In financial year 2025, Participatiemaatschappij Vlaanderen made a profit of €17.2m.
- Where can I find the annual accounts of Participatiemaatschappij Vlaanderen?
- Participatiemaatschappij Vlaanderen filed 38 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Participatiemaatschappij Vlaanderen due?
- Participatiemaatschappij Vlaanderen must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence See whether the workforce is growing and whether people stay.Employer check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check See which support similar companies received that this one did not.Subsidies
See how customers, suppliers and banks see your own company and what to improve first.