Cooperative company · founded 1992 · 34 yrs activeRavensteingalerij 4, 1000 Brussel, BelgiumKBO/BCE: BE 0447.845.040
Summary
PUBLIGAS has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.35bn and a net result of €118.3m. Equity remains stable across the filed fiscal years (±0.4% per year). The computed 12-month bankruptcy probability is 0.2% (very low).
How financially healthy the company is, how likely a bankruptcy is and how much credit is sensible. Start here to know whether you can do business safely.
Score 2025
Checked score
A figure from 0 to 100 for financial health from the latest annual accounts: the higher, the healthier. Without a figure, the card says why. A low score is a reason to look closely at payment terms and security.
Four sides of financial health side by side. You see at a glance where the company is strong and where it is vulnerable.
Profitability29=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
Bankruptcy probability
The chance that this company goes bankrupt within twelve months. A low chance is reassuring; with a higher one, agree shorter payment terms or an advance.
0.2%Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity tight (current ratio 1.09 against 0.97 in 2024; short-term debt: 7% and cash: 0.1% of total assets), and 9.4% of the assets are financed with debt.
This company filed its last 7 accounts on average 64 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
○
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
History
History
The company's story in a few sentences, from the company register, the Belgian State Gazette and the filed annual accounts. Each number opens the document the sentence rests on.
On 2 July 1992, PUBLIGAS was incorporated.1The capital was increased 3 times between 2004 and 2012, most recently to EUR 31 million.234Of the 26 current board members, Sébastien Humblet has served longest, since 2019.5Total assets went from EUR 1.4 billion in 2018 to EUR 1.5 billion in 2025.6
What happened to the company over the years, from its founding to recent changes. Many changes in a short time are a reason to ask questions.
2026
06-07
NBB filingAnnual accounts filed
fiscal year 2025 · consolidated
29-01
State Gazette actResignation: Bernard Thiry (director)
Appointments: Jean-Claude Marcourt, Pieter Busselot and 22 others26 facts ▸
General meeting, 11/12/2025
Director resignation, Bernard Thiry (director)
Director appointment, Jean-Claude Marcourt (director)
Director appointment, Pieter Busselot (director)
Director appointment, Jean-Pierre DE GROEF (director)
Director appointment, Katrien Desomer (director)
Director appointment, Sali De Ville (director)
Director appointment, Kim Dorikens (director)
Director appointment, Greet Geypen (director)
Director appointment, Andries GRYFFROY (director)
Director appointment, Dries Hostens (director)
Director appointment, Eric SPIESSENS (director)
+14 further facts in this act
2025
23-12
NBB filingAnnual accounts filed
fiscal year 2025 · full schema
23-12
NBB filingAnnual accounts filed
fiscal year 2025 · unclassified schema
30-09
FinancialHighest result since 2018net €118.3m ▲0.2%
Net result €118.3m, the highest in the series.
08-07
NBB filingAnnual accounts filed
fiscal year 2024 · consolidated
26-02
State Gazette actAppointments: Patrick Dewael, Jean-Pierre De Groef and EY Bedrijfsrevisoren BV
Resignations: Geert Versnick, Hans Bonte and Cathy Clerbaux · Permanent representatives: Wim Van Gasse and Eric van Hoof9 facts ▸
General meeting, 12/12/2024
Director appointment, Patrick Dewael (director)
Director resignation, Geert Versnick
Director appointment, Jean-Pierre De Groef (director)
Director resignation, Hans Bonte
Director resignation, Cathy Clerbaux
Auditor appointment, EY Bedrijfsrevisoren BV (commissaris revisor)
Permanent representative, Wim Van Gasse
Permanent representative, Eric van Hoof
17-01
State Gazette actStatutes amendment
2 facts ▸
General meeting, 12-12-2024
Statutes amendment
07-01
NBB filingAnnual accounts filed
fiscal year 2024 · full schema
07-01
NBB filingAnnual accounts filed
fiscal year 2024 · unclassified schema
2024
04-07
NBB filingAnnual accounts filed
fiscal year 2023 · consolidated
28-03
State Gazette actAppointment: Hans BONTE (director)
Resignation: William DE BOECK (director)3 facts ▸
General meeting, 14/12/2023
Director appointment, Hans BONTE (director)
Director resignation, William DE BOECK (director)
Show earlier events
10-01
NBB filingAnnual accounts filed
fiscal year 2023 · full schema
10-01
NBB filingAnnual accounts filed
fiscal year 2023 · unclassified schema
2023
12-12
State Gazette actPermanent representatives: Marie-Laure Moreau, Eric Van Hoof and Wim Van Gasse
4 facts ▸
Board meeting, 26/06/2023
Permanent representative, Marie-Laure Moreau
Permanent representative, Eric Van Hoof
Permanent representative, Wim Van Gasse
11-07
NBB filingAnnual accounts filed
fiscal year 2022 · consolidated
2022
27-12
State Gazette actAppointments: Bernard THIRY (director) and Inne MERTENS (director)
Resignations: Julien COMPERE (director) and Luc HUJOEL (director)5 facts ▸
General meeting, 08/12/2022
Director appointment, Bernard THIRY (director)
Director resignation, Julien COMPERE (director)
Director appointment, Inne MERTENS (director)
Director resignation, Luc HUJOEL (director)
2021
27-12
State Gazette actAppointments: Cathy CLERBAUX (director) and EY Bedrijfsrevisoren BV (commissaris revisor)
Resignations: Thibaud WYNGAARD (director) and Julien COMPERE (director) · Permanent representatives: Wim Van Gasse and Marie-Laure Moreau7 facts ▸
General meeting, 09/12/2021
Director appointment, Cathy CLERBAUX (director)
Director resignation, Thibaud WYNGAARD
Director resignation, Julien COMPERE
Auditor appointment, EY Bedrijfsrevisoren BV (commissaris revisor)
Permanent representative, Wim Van Gasse
Permanent representative, Marie-Laure Moreau
09-04
State Gazette actPurpose · Statutes amendment · Legal-form change
Purpose change · Capital4 facts ▸
General meeting, 18/03/2021
Purpose change, De vennootschap heeft als voorwerp het houderschap in volle eigendom of onder een andere vorm en het beheer van aandelen van het kapitaal van de naamloze vennoo…
Capital, €21.921.251,33
Statutes amendment
2020
16-12
State Gazette actAppointment: Jean-Marie BREBAN (director)
Resignation: Claude GREGOIRE (director)3 facts ▸
General meeting, 26/11/2020
Director appointment, Jean-Marie BREBAN (director)
Director resignation, Claude GREGOIRE (director)
17-11
State Gazette actResignations: NETHYS (director) and Rachid BARGHOUTI (director)
State Gazette actResignations: Pol HEYSE (bestuurder namens de aandeelhouderscategorie b) and Cyprien DEVILERS (bestuurder namens aandeelhouderscategorie b)
Director resignation, Françoise DEMEUSE (bestuurder namens de aandeelhouderscategorie b)
Director appointment, Cypren DEVILERS (director)
12-11
State Gazette actResignations: Debroek Olivier, Demeuse Françoise and 12 others
14 facts ▸
Director resignation, Debroek Olivier (director)
Director resignation, Demeuse Françoise (director)
Director resignation, Henry Roger (director)
Director resignation, Maene Jean-Claude (director)
Director resignation, Marinower Claude (director)
Director resignation, Pire Georges (director)
Director resignation, Pivin Philippe (director)
Director resignation, Sequaris Jean (director)
Director resignation, Urbain Robert (director)
Director resignation, Van Berlaer Dirk (director)
Director resignation, Van Bouchaute Gilbert (director)
Director resignation, Van Brempt Kathleen (director)
+2 further facts in this act
2014
10-12
State Gazette actResignation: Jean-Jacques CAYEMAN (director)
Appointments: Renaud MOENS (director) and Jean-Paul PARMENTIER (director)4 facts ▸
General meeting, 28/11/2014
Director resignation, Jean-Jacques CAYEMAN (director)
Director appointment, Renaud MOENS (director)
Director appointment, Jean-Paul PARMENTIER (director)
2013
04-12
State Gazette actAppointments: Ludo KELCHTERMANS, Eric SPIESSENS and 21 others
26 facts ▸
General meeting, 20/11/2013
Director appointment, Ludo KELCHTERMANS (director)
Director appointment, Eric SPIESSENS (director)
Director appointment, Annemie MATTHYS (director)
Director appointment, Pablo ANNYS (director)
Director appointment, Jos ANSOMS (director)
Director appointment, Francis BENOIT (director)
Director appointment, Andries GRYFFROY (director)
Director appointment, Dries HOSTENS (director)
Director appointment, Luc JANSSENS (director)
Director appointment, Jozef SPEECKAERT (director)
Director appointment, Daniël TERMONT (director)
+14 further facts in this act
02-04
State Gazette actCapital & shares
Capital decrease · Share cancellation · Capital5 facts ▸
General meeting, 20/03/2013
Capital decrease
Share cancellation, 4815
Capital, €21.921.251,33
Statutes amendment
2012
20-12
State Gazette actResignations: Olivier CHASTEL (bestuurder namens de aandeelhouderscategorie b) and V.O.F. GEEBELEN J. (bestuurder namens de aandeelhouderscategorie a)
Appointments: Olivier DESTREBECQ (bestuurder namens de aandeelhouderscategorie b) and Ludo KELCHTERMANS (bestuurder namens de aandeelhouderscategorie a)5 facts ▸
General meeting, 21/11/2012
Director resignation, Olivier CHASTEL (bestuurder namens de aandeelhouderscategorie b)
Director appointment, Olivier DESTREBECQ (bestuurder namens de aandeelhouderscategorie b)
Director resignation, V.O.F. GEEBELEN J. (bestuurder namens de aandeelhouderscategorie a)
Director appointment, Ludo KELCHTERMANS (bestuurder namens de aandeelhouderscategorie a)
20-12
State Gazette actAppointment: RSM-InterAudit CVBA (commissaris revisor)
State Gazette actCapital & shares · Purpose · Statutes amendment
Purpose change · Capital · Capital-increase authorisation6 facts ▸
General meeting, 21/11/2012
Purpose change, het houderschap in volle eigendom of onder een andere vorm en het beheer van aandelen van het kapitaal van de naamloze vennootschap Fluxys of van het kapitaal v…
Capital increase · Capital · Statutes amendment3 facts ▸
Capital increase, €12.127.059
Capital, €31.016.545,58
Statutes amendment
02-03
State Gazette actStatutes amendment
1 fact ▸
Statutes amendment
2011
21-12
State Gazette actResignations: Dominique OFFERGELD (bestuurder namens de aandeelhouderscategorie b) and Claude KLENKENBERG (bestuurder namens de aandeelhouderscategorie b)
Appointments: Vincent SCOURNEAU (director) and Pol HEYSE (director)5 facts ▸
General meeting, 29/11/2011
Director resignation, Dominique OFFERGELD (bestuurder namens de aandeelhouderscategorie b)
Director appointment, Vincent SCOURNEAU (director)
Director resignation, Claude KLENKENBERG (bestuurder namens de aandeelhouderscategorie b)
Director appointment, Pol HEYSE (director)
07-11
State Gazette actCapital & shares
Capital increase · Power of attorney · Statutes amendment7 facts ▸
Board meeting, 06/10/2011
Capital increase, €249.994.800
Power of attorney, de voorzitter, de ondervoorzitters en de heer Christian Viaene
Power of attorney, de voorzitter, de ondervoorzitters en de heer Christian Viaene
Statutes amendment
Share details, op naam, categorie A, B of C
Subscription rounds, maximaal drie inschrijvingsrondes
2010
10-12
State Gazette actResignations: Paul VAN DE CASTEELE (bestuurder namens de aandeelhouderscategorie a) and L. GAHOUCHI (bestuurder namens de aandeelhouderscategorie b)
Appointments: Piet BUYSE (director) and Alain LELUBRE (director)5 facts ▸
General meeting, 24/11/2010
Director resignation, Paul VAN DE CASTEELE (bestuurder namens de aandeelhouderscategorie a)
Director resignation, L. GAHOUCHI (bestuurder namens de aandeelhouderscategorie b)
Director appointment, Piet BUYSE (director)
Director appointment, Alain LELUBRE (director)
16-07
State Gazette actResignation: Armel DUMORTIER (director)
Appointment: Christian PARADIS (director)3 facts ▸
General meeting, 23/06/2010
Director resignation, Armel DUMORTIER (director)
Director appointment, Christian PARADIS (director)
19-01
State Gazette actAppointment: TCLM CVBA (statutory auditor)
State Gazette actResignations: T. SMIT (director) and R. MELS (director)
Appointments: S. UGURLU, E. SPIESSENS and D. OFFERGELD6 facts ▸
General meeting, 26/11/2008
Director resignation, T. SMIT (director)
Director appointment, S. UGURLU (director)
Director resignation, R. MELS (director)
Director appointment, E. SPIESSENS (director)
Director appointment, D. OFFERGELD (director)
18-05
State Gazette actAppointments: R. MELS, Ph. HEYLEN and 21 others
Permanent representative: Jo GEEBELEN25 facts ▸
General meeting, 28/11/2007
Director appointment, R. MELS (director)
Director appointment, Ph. HEYLEN (director)
Director appointment, V.O.F. Geebelen (director)
Permanent representative, Jo GEEBELEN
Director appointment, T. SMIT (director)
Director appointment, C. DEKEUCKELAERE (director)
Director appointment, L. JANSSENS (director)
Director appointment, P. MOENAERT (director)
Director appointment, J. SPEECKAERT (director)
Director appointment, D. TERMONT (director)
Director appointment, P. VANDECASTEELE (director)
+13 further facts in this act
2005
24-01
State Gazette actAppointments: Emmanuel de Bethune, Rony Mels and 22 others
Capital · Accounting effect · Minimum capital28 facts ▸
General meeting, 28 novembre 2001
Director appointment, Emmanuel de Bethune (director)
Director appointment, Rony Mels (director)
Director appointment, Dirk van Berlaer (director)
Director appointment, Daniel Denys (director)
Director appointment, Gilbert Van Hoecke (director)
Director appointment, Patrick Moenaert (director)
Director appointment, Daniel Termont (director)
Director appointment, Kathleen Van Brempt (director)
Director appointment, Claude Marinower (director)
Director appointment, Jeanine De Boever (director)
Director appointment, Léo Van Nooten (director)
+16 further facts in this act
2004
08-12
State Gazette actCapital & shares · Statutes amendment
Capital · Capital increase · Power of attorney7 facts ▸
General meeting, 27/10/2004
Capital
Capital increase
Statutes amendment
Power of attorney, PUBLIGAZ
Power of attorney, PUBLIGAZ
Power of attorney, PUBLIGAZ
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.An act published in both Dutch and French appears here once.
63 of 66 acts read
About the unread acts
Of the 66 Belgian State Gazette acts we know for this company, 63 have been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Who runs the company and where it is based. It tells you who you are talking to and whether the address checks out.
Directors
Directors
Who runs the company today and since when, grouped the way the CBE groups its function holders. Many recent board changes are a reason to keep a close eye.
Permanent representative · since 28-11-2007 · for V.O.F. Geebelen
Not recently confirmed
MS
Stéphane MOREAU
Permanent representative · since 30-11-2017 · for NETHYS nv
Not recently confirmed
Statutory auditor 1
EB
EY Bedrijfsrevisoren BV
Commissaris revisor · since 27-12-2021
Current
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
3 of this company's 66 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Location & real estate
Where the company is based and which parcels are linked to its addresses. An address shared by many companies is often a registered-office service.
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Mandate history
Mandate history
Who held which function and when, per person: one bar per period, from appointment to resignation or to today. An open left edge means the mandate began before the oldest act we hold.
La société a pour objet la détention en pleine propriété ou autrement et la gestion d'actions représentatives du capital de la société anonyme Fluxys ou du capital d'une société…
Full purpose
La société a pour objet la détention en pleine propriété ou autrement et la gestion d'actions représentatives du capital de la société anonyme Fluxys ou du capital d'une société liée à celle-ci ainsi que de toute société issue de la scission, fusion ou absorption desdites sociétés. La société peut également acquérir des actions ou parts d'autres sociétés dont l'objet consiste à titre principal dans le transport, le transit, la distribution, le stockage ou le terminalling de gaz ou d'autres molécules, ainsi que le financement desdites activités moyennant l'autorisation préalable de l'assemblée générale statuant dans les conditions de quorum et de majorité prévues pour la modification des statuts. Elle peut exercer les fonctions d'administrateur ou liquidateur dans d'autres sociétés. Elle peut se porter caution ou fournir toute garantie ou autre sûreté, en faveur de sociétés. La société a pour finalité coopérative de regrouper au sein d'une structure unique les intérêts directs et indirects des communes, des structures de coopération intercommunales, des sociétés (inter)communales ou des autres autorités locales belges dans le transport de gaz ou d'autres molécules et de permettre et organiser leur participation conjointe à la gestion du réseau de transport de gaz ou d'autres molécules, avec pour objectif d'ancrer les intérêts communaux et publics au sein de cette gestion du réseau de transport, de soutenir l'exploitation et le développement de la gestion du réseau de transport de gaz ou d'autres molécules et de défendre les intérêts communaux et les autres intérêts publics, en ce compris l'intérêt général, au sein de ce secteur.
Who owns the company and which companies it holds shares in, as the companies file it in their annual accounts. It shows which group it belongs to and who ultimately stands behind it.
3 owners · 2 holdings · 28 subsidiaries in the tree
According to the annual accounts to 30-09-2025 of PUBLIGAS and those of the other companies, the acts in the Belgian Gazette and the LEI register.
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 fill in these statements, or need not, is missing.
Connections & network
Connections & network
Which other companies are linked to this one through directors or shares. Look especially for linked companies in trouble.
172 connected companies
Depth
Shared directors
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