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Studeco

Active Private limited companyfounded 1989active for 37 yearsHasseltkouter 53, 9500 GeraardsbergenKBO/BCE: BE 0437.761.295 subsidiary of Altenova#1 company by total assets in Geraardsbergen, Professional and technical services sector
Part of the group Altenova 17 companies in 11 countries
See the group
Studeco
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Holdings

own 2025 accounts, the bar shows equity in euros
This companyStudeco14 holdings, 10 countries 2025 accounts

Belgium 4 Year Equity Result

Europe 10 Year Equity Result

  • SK Pyronova s.r.o.0.08% 2025€34.1m result €12.8m (2025)
  • SK Pyronova IS Slovakia s.r.o.via 100% 2025€3.7m result €2.4m (2025)
  • NL Altebra Sprinklertechniek BVvia 100% 2025€2.5m result €1.9m (2025)
  • DE Pyronova IS Deutschland GmbHvia 100% 2025€679,540 result €371,730 (2025)
  • SE Altebra Sweden ABvia 100% 2025SEK 1.9m result SEK 764,952 (2025)
  • CZ Pyronova IS Czechia s.r.o.via 100% 2025CZK 76.3m result CZK 30.4m (2025)
  • RS Pyronova IS D.O.O. Veternikvia 100% 2025-RSD 870,419 result -RSD 4.9m (2025)
  • HU Pyronova IS Hungária Kftvia 100% 2025HUF 2.45bn result HUF 1.80bn (2025)
  • RO Pyronova IS Romania srlvia 100% 2025RON 57.7m result RON 36.2m (2025)
  • UA TOV Pironova IC Ukraïnavia 100% 2024UAH 160,300 result UAH 0 (2024)

Source: list of holdings in its own 2025 accounts. Holdings that file themselves stand with their latest accounts, the others with the amounts of that list, in their own currency.

Part of the group Altenova Group, risk and exposure

Parent

Altenova
1022.322.986 · 100% of the shares · equity €128.3m · profit €408,172 (2025)

Earlier ties

MEDIAGENIX GROUP
via SOFINDEV V, at Studeco until 2025 · Director · deed of 10-12-2020
founded in 2018 · group MPARCO INVEST
 turnover €5.3m (2025)
WOPACO
via SOFINDEV V, at Studeco until 2025 · Director · deed of 22-09-2020
founded in 2020 · group SOFINDEV V
 turnover €1.3m (2025)
DYNAMATE
via SOFINDEV V, at Studeco until 2025 · Director · deed of 18-04-2025
founded in 2016 · group Dynamate Holding
 79 FTE (2025)
Dynamate Partners
via SOFINDEV V, at Studeco until 2025 · Sole director · deed of 25-06-2026
 founded in 2026
Foodpartners International STAK
via SOFINDEV V, at Studeco until 2025 · Sole director · deed of 23-09-2026
 founded in 2026
DC INVEST
via DE COCK Karel Guido, no longer at DC INVEST · Permanent representative · deed of 12-01-2021
No longer active · founded in 2007
 total assets €16.2m (2025)
Show 4 more earlier ties
Make It Fly
via SOFINDEV V, at Studeco until 2025 · Director · deed of 15-01-2025
No longer active · founded in 2021 · group Dynamate Holding
 total assets €6.6m (2025)
HARMONIZE IT HOLDING
via SOFINDEV V, at Studeco until 2025 · Class A director · deed of 28-12-2021
No longer active · group Dynamate Holding
 turnover €851,000 (2025)
HARMONIZE IT
via SOFINDEV V, at Studeco until 2025 · Director · deed of 06-01-2022
No longer active · founded in 2008 · group Dynamate Holding
 15 FTE (2025)
SOFINDEV IV INVESTMENTS PRIVAK
via SOFINDEV MANAGEMENT, no longer at SOFINDEV IV INVESTMENTS PRIVAK · Director · deed of 05-08-2022
No longer active
 total assets €711,043 (2024)

Holdings and subsidiaries

14 holdings · 8 subsidiaries, including indirect ones

Holdings 14

Share, source and own figures per holding (14)

Source for every holding own accounts 2025

  • ALTEBRAsubsidiary
    Equity €34.2m Profit of €13.0m in 2025 (profit of €6.6m in 2024) Checked score 82
    Alsoaccounts ALTEBRA 2025
    100%
  • Pyronova s.r.o.SK
    Equity €34.1mResult €12.8m
    0.08%+ 99.92% via subsidiaries
  • Altebra Sprinklertechniek BVNL
    Equity €2.5mResult €1.9m
    0%+ 100% via subsidiaries
  • Altebra Sweden ABSE
    Equity SEK 1.9mResult SEK 764,952
    0%+ 100% via subsidiaries
  • ALTEBRA WAREGEM
    Equity €2.7m Profit of €902,204 in 2025 (profit of €890,092 in 2024) Checked score 51
    0%+ 100% via subsidiaries
  • FIRE CONCEPT
    Equity €1.6m Profit of €1.2m in 2025 (profit of €960,106 in 2024) Checked score 70
    0%+ 100% via subsidiaries
  • ILUVIA
    Equity €174,040 Profit of €50,517 in 2025 (profit of €30,352 in 2024) Checked score 67
    0%+ 100% via subsidiaries
  • Pyronova IS Czechia s.r.o.CZ
    Equity CZK 76.3mResult CZK 30.4m
    0%+ 100% via subsidiaries
  • Pyronova IS D.O.O. VeternikRS
    Equity -RSD 870,419Result -RSD 4.9m
    0%+ 100% via subsidiaries
  • Pyronova IS Deutschland GmbHDE
    Equity €679,540Result €371,730
    0%+ 100% via subsidiaries
  • Pyronova IS Hungária KftHU
    Equity HUF 2.45bnResult HUF 1.80bn
    0%+ 100% via subsidiaries
  • Pyronova IS Romania srlRO
    Equity RON 57.7mResult RON 36.2m
    0%+ 100% via subsidiaries
  • Pyronova IS Slovakia s.r.o.SK
    Equity €3.7mResult €2.4m
    0%+ 100% via subsidiaries
  • TOV Pironova IC UkraïnaUA
    Equity UAH 160,300Result UAH 0
    0%+ 100% via subsidiaries
All subsidiaries, including indirect ones 8

Studeco or one of its subsidiaries holds more than half of the shares of these companies. A company it consolidates per the LEI register is listed too.

Holdings through the years 2020 to 2025
Holdings through the years
Name202020212022202320242025
ALTEBRA 100%
Altebra Sprinklertechniek BVNL via 100%
Altebra Sweden ABSE via 100%
ALTEBRA WAREGEM via 100%
FIRE CONCEPT via 100%
ILUVIA via 100%
Pyronova IS Czechia s.r.o.CZ via 100%
Pyronova IS D.O.O. VeternikRS via 100%
Pyronova IS Deutschland GmbHDE via 100%
Pyronova IS Hungária KftHU via 100%
Pyronova IS Romania srlRO via 100%
Pyronova IS Slovakia s.r.o.SK via 100%
TOV Pironova IC UkraïnaUA via 100%
Pyronova s.r.o.SK 0.08%
Altebra SwedenSE via 100%

Source: list of holdings in its own accounts

Connections & network

27 connected companies
Depth
DE COCK Karel Guido, Shared director DCDE COCK KarelGuidoDC INVEST, via DE COCK Karel Guido DIDC INVEST+30 companies via a shared corporate director +30via a sharedcorporate directorMipad, Shared director MMipadBrantegem, Shared corporate director BBrantegemExpertum Group, Shared corporate director EGExpertum GroupHIS GROUP, Shared corporate director HGHIS GROUPOptima Forma BidCo, Shared corporate director OFOptima FormaBidCoStrado Group, Shared corporate director SGStrado GroupStudeco Studeco0437.761.295
Shared directorsBundled connections
This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
Sofindev VI Investments (Privak)
via SOFINDEV MANAGEMENT · Manager · deed of 07-12-2022
Founded in 2022 · total assets €156.3m (2025)
→
Optima Forma BidCo
via Sofindev VI · Director · deed of 15-05-2025
Founded in 2025 · total assets €122.6m (2025)
→
W.V.T. Industries
via SOFINDEV MANAGEMENT · Director · deed of 07-08-2019
Founded in 1996 · turnover €16.3m (2025) · group Optima Forma BidCo
→
Foodpartners International
via SOFINDEV MANAGEMENT and SOFINDEV V (at Studeco until 2025) · Director · deed of 28-02-2022
Founded in 2021 · total assets €79.6m (2025) · group SOFINDEV V
→
Show 23 more companies with a shared director
Dynamate Holding
via SOFINDEV MANAGEMENT · Director · deed of 03-07-2020
Founded in 2020 · turnover €2.8m (2025)
→
Expertum Group
via Sofindev VI · Director · deed of 31-08-2023
Founded in 2023 · turnover €2.8m (2025)
→
Delta Engineering Group
via SOFINDEV MANAGEMENT and SOFINDEV V (at Studeco until 2025) · Class A director · deed of 11-02-2022
Founded in 2021 · turnover €1.6m (2025)
→
WVT Group
via SOFINDEV MANAGEMENT · Director (not named in the articles) · deed of 23-05-2019
Founded in 2019 · turnover €2.0m (2025) · group Optima Forma BidCo
→
Shipex Group
via Sofindev VI and SOFINDEV MANAGEMENT · deeds of 03-04-2025 and 23-01-2025
Founded in 2025 · turnover €1.2m (2025) · group Sofindev VI Investments (Privak)
→
Climate Pioneers
via SOFINDEV MANAGEMENT and SOFINDEV V (at Studeco until 2025) · Class A director · deed of 14-12-2022
Founded in 2022 · turnover €773,360 (2025) · group SOFINDEV V
→
Claes Food Projects
via SOFINDEV MANAGEMENT and SOFINDEV V (at Studeco until 2025) · deeds of 27-08-2025 and 31-10-2024
Founded in 2018 · turnover €1.4m (2025) · group SOFINDEV V
→
KELLER LUFTTECHNIK BENELUX
via SOFINDEV MANAGEMENT and SOFINDEV V (at Studeco until 2025) · Director · deed of 12-02-2024
Founded in 1985 · 36 FTE (2025)
→
Coffee Service Group
via Sofindev VI and SOFINDEV MANAGEMENT · deeds of 08-04-2024 and 14-03-2024
Founded in 2024 · turnover €1.1m (2025) · group Sofindev VI Investments (Privak)
→
HIS GROUP
via Sofindev VI · Director · deed of 04-06-2025
Founded in 2025 · total assets €28.4m (2025) · group Sofindev VI Investments (Privak)
→
Mabo International
via SOFINDEV MANAGEMENT · Director · deed of 08-03-2019
Founded in 2019 · 8.7 FTE (2025)
→
Strado Group
via Sofindev VI · C bestuurder niet statutair bestuurder · deed of 01-04-2026
Founded in 2010 · total assets €25.3m (2025)
→
Merkator Group
via Sofindev VI and SOFINDEV MANAGEMENT · Director · deeds of 18-01-2024 and 15-12-2023
Founded in 2023 · turnover €1.0m (2025) · group Sofindev VI Investments (Privak)
→
Polysto Group
via Sofindev VI and SOFINDEV MANAGEMENT · deeds of 15-12-2025 and 06-06-2025
Founded in 2008 · 40 FTE (2025) · group Sofindev VI Investments (Privak)
→
INNOVIS
via SOFINDEV MANAGEMENT · Director · deed of 06-01-2022
Founded in 2006 · 5.4 FTE (2025) · group Optima Forma BidCo
→
LYBOTECH
via SOFINDEV MANAGEMENT and SOFINDEV V (at Studeco until 2025) · Director · deed of 12-02-2024
Founded in 2017 · 18 FTE (2025)
→
Brantegem
via Mipad · Director · deed of 12-06-2020
Founded in 1973 · total assets €653,974 (2025) · group ACKERMANS & VAN HAAREN
→
Mipad
via Stefaan Devolder · Permanent representative · deed of 21-01-2026
Founded in 2018 · total assets €102,112 (2025)
→
Dynamate - Galibier
via SOFINDEV MANAGEMENT and SOFINDEV V (at Studeco until 2025) · Director · deeds of 02-07-2026 and 21-05-2026
Founded in 2026
→
Poppies Partners
via SOFINDEV MANAGEMENT · General partner and statutory manager · deed of 24-09-2026
Founded in 2026
→
Sofindev VII (Privak)
via SOFINDEV MANAGEMENT · Manager · deed of 19-06-2026
Founded in 2026
→
Sofinova
via SOFINDEV MANAGEMENT · Manager · deed of 13-06-2025
Founded in 2025
→
NV SOFINDEV IV
via SOFINDEV MANAGEMENT · Member of the management board · deed of 27-01-2021
No longer active · total assets €69.2m (2025)
→

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