Swave
ActiveDirectors
Directors
8 directors, 1 in day-to-day management, no change since 2026
Board 8
Participatiemaatschappij Vlaanderen
Current
Director · since 14-06-2022 · term without a fixed end · Public limited company · permanent representative: KEPPENS Johan · also on the board of 46 other companies · 4 other companies bankrupt · listed in the 2025 annual accounts, filed on 26-06-2026
VORENKAMP Pieter
Current
Director · since 14-06-2022 · term without a fixed end · listed in the 2025 annual accounts, filed on 26-06-2026
Current
Tom VANHOUTTE
Current
Director · since 08-07-2024 · term without a fixed end · listed in the 2025 annual accounts, filed on 26-06-2026
QBIC VENTURE PARTNERS III
Current
Director · since 18-12-2024 · term without a fixed end · Public limited company · permanent representative: VAN NEVEL Cédric Jacqueline Joseph Maurice · also on the board of 5 other companies · listed in the 2025 annual accounts, filed on 26-06-2026
Relaunch for the Future
Current
Director · since 18-12-2024 · term without a fixed end · Public limited company · permanent representative: VANDENBERGHE Alan Hugues · also on the board of 3 other companies · listed in the 2025 annual accounts, filed on 26-06-2026
Current
IAG FUND III, LP
Current
Director · since 19-06-2025 · Legal entity · listed in the 2025 annual accounts, filed on 26-06-2026
Day-to-day management 1
Théodore Marescaux
Current
Day-to-day manager · appointed in the act of 06-07-2026
Permanent representatives 3
KEPPENS Johan
Current
Permanent representative · appointed in the act of 04-07-2022 · for Participatiemaatschappij Vlaanderen
VAN NEVEL Cédric Jacqueline Joseph Maurice
Current
Permanent representative · appointed in the act of 02-01-2025 · for QBIC VENTURE PARTNERS III
VANDENBERGHE Alan Hugues
Current
Permanent representative · appointed in the act of 02-01-2025 · for Relaunch for the Future
Statutory auditor 1
EY Bedrijfsrevisoren BV
Current
Statutory auditor · appointed in the act of 19-12-2022 · term of 3 financial years from 2026 · permanent representative: Eef Naessens
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Artikel 16. Vertegenwoordiging 16.1 Het bestuursorgaan vertegenwoordigt de Vennootschap jegens derden en in rechte als eiser of als…”
deed of 02-01-2025Owners and capital
Shareholders
9 ownersChain of control
- Elodes
- Swave
Owners 9
- ElodesparentEquity €685,181 Profit of €129,108 in 2025 (profit of €157,951 in 2024) Checked score 94100%
- Equity €76.8m Profit of €4.4m in 2025 (loss of €2.6m in 2024) Checked score 9617.94%
- Sourceown accounts 2023Equity €512.1m Profit of €94.1m in 2025 (profit of €58.5m in 2024) Checked score 9617.88%
- Equity €30.4m Loss of €5.2m in 2025 (loss of €6,290 in 2024) Checked score 8916.74%
- Equity €38.5m Loss of €1.9m in 2025 (loss of €1.7m in 2024) Checked score 969.67%
- Dmitri Choutovnatural personSourceown accounts 20234.97%
- Théodore Marescauxnatural personSourceown accounts 20234.97%
- Acequia Capital Origin 22 LP BVUSSourceown accounts 20233.58%
- Luminate Venture Challenge Corp NVUSSourceown accounts 20230.65%
Capital transactions
Shareholders according to the deeds
At incorporation
act of 03-02-2022 ↗
- MARESCAUX Théodore Michel 1,000,000 shares (50%)
- CHOUTOV Dmitri Andreevich 1,000,000 shares (50%)
Capital over time
- 25-09-2026 Capital increase of €4,088.96 · 6,389 new shares at €0.64 per share · in cash
- 30-06-2025 Capital increase of €5,999,998.01 · 872,553 new shares · in cash
- 02-01-2025 Capital increase of €3,219,495.49 · 528,177 new shares · in kind
- 02-01-2025 Capital increase of €24,499,971.27 · 3,993,706 new shares at €6.13 per share · in cash
- 19-06-2023 Capital increase of €3,091,170 · 1,483,761 new shares at €2.08 per share · in cash
- 04-07-2022 Capital increase of €7,000,000 · 3,360,000 new shares at €2.08 per share · in cash
- 04-07-2022 Capital increase of €2,500,000 · 1,200,000 new shares
- 03-02-2022 Incorporation · €2,000 · 2,000,000 shares
The directors' other companies
1 current director with another company that went bankrupt, was dissolved or struck off
4 other companies of this director went bankrupt (2023, 2025, 2026).
- QOLLABI bankruptcy on 07-05-2026Official Gazetteappointed in 2022, still in office
- REIN4CED bankruptcy on 29-12-2025Official Gazetteappointed in 2022, still in office
- OXYPOINT bankruptcy on 11-12-2025Official Gazettemandate until 2022
- VILOC bankruptcy on 26-01-2023Official Gazettemandate until 2022
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.
Mandate history
15 people, 9 in office
- Board
- Day-to-day management
- Statutory auditor
- began earlier
- end not dated
| Name | Functions and periods |
|---|---|
| Participatiemaatschappij Vlaanderen |
|
| VORENKAMP Pieter |
|
| NOONEN Michael Edward |
|
| Tom VANHOUTTE |
|
| QBIC VENTURE PARTNERS III |
|
| Relaunch for the Future |
|
| IAG FUND III, LP |
|
| Théodore Marescaux |
|
| EY Bedrijfsrevisoren BV |
|
| LightSail |
|
| LEMONCHECK John Edward |
|
| Peter VANBEKBERGEN |
|
| CHOUTOV Dmitri |
|
| VANBEKBERGEN Peter Lambert |
|
| CHOUTOV Dmitri Andreevich |
|
Articles of association
Board and representation
- Daily managementDay-to-day management handles the everyday running of the business without the full board.
- The board decides whether the delegates act alone or jointlydeed of 02-01-2025 (in Dutch)
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Vervalt automatisch bij ophouden Aandeelhouder te zijn, te allen tijde Onafhankelijk Bestuurder tenzij geen benoemd, gekozen met gewone…”deed of 30-06-2025 (in Dutch)
Capital, shares and profit
- Financial instrumentThe company can also issue securities other than shares, such as bonds or warrants.
- “Employee Stock Option Warrant, Gewoon Aandeel”
deed of 25-09-2026 (in Dutch)