V2 (0433.296.525), Inactive: financials and annual accounts

KBO/BCE: BE 0433.296.525

Line	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Balance sheet: assets
Total assets`20/58`	1.2m	1.0m	1.1m	1.2m	1.2m	890,078	720,426	731,640	766,212	838,104	863,949	879,622	911,066	968,866	1.7m	1.2m	700,636	730,850	720,814	735,624
Fixed assets`21/28`	500	1.0m	1.1m	1.2m	1.2m	810,357	648,392	687,211	715,894	761,221	811,998	841,240	896,871	954,200	960,842	1.1m	508,347	530,306	560,256	610,316
Intangible fixed assets`21`	-	-	-	-	0	1,978	4,450	7,416	-	-	-	-	-	-	-	-	-	-	-	-
Tangible fixed assets`22/27`	0	1.0m	1.1m	1.2m	1.2m	805,844	641,407	677,260	713,359	758,686	809,363	838,121	893,752	948,143	955,137	1.1m	504,266	526,516	556,756	606,816
Land and buildings`22`	0	995,478	1.1m	1.1m	1.1m	792,524	632,245	663,167	696,779	743,204	788,889	829,264	882,558	932,567	933,638	1.1m	491,453	509,755	529,791	555,032
Plant, machinery and equipment`23`	0	167	387	608	941	2,128	3,315	3,699	4,918	5,820	5,663	6,485	7,887	9,289	10,691	13,185	11,471	15,056	18,913	22,545
Furniture and vehicles`24`	0	21,085	40,625	54,113	29,874	11,192	5,847	10,394	11,662	9,662	14,811	2,372	3,307	2,814	3,862	7,315	1,342	1,705	3,680	11,043
Other tangible fixed assets`26`	-	-	-	-	-	-	-	-	-	-	-	-	-	3,473	6,946	-	-	-	4,372	18,196
Financial fixed assets`28`	500	775	775	775	275	2,535	2,535	2,535	2,535	2,535	2,635	3,119	3,119	6,057	5,705	4,196	4,081	3,790	3,500	3,500
Current assets`29/58`	1.2m	9,405	6,708	40,067	29,817	79,721	72,034	44,429	50,318	76,883	51,951	38,382	14,195	14,666	737,768	33,937	192,289	200,544	160,558	125,308
Amounts receivable within one year`40/41`	1.2m	5,200	3,172	37,647	7,074	70,148	44,524	14,661	13,541	41,652	50,179	32,228	12,134	12,100	735,445	33,937	184,423	189,263	159,422	118,859
Trade receivables`40`	53,401	5,200	2,350	37,647	600	70,148	30,006	615	1,540	20,297	5,165	20,913	70	12,100	47,875	31,943	184,423	184,423	159,422	118,859
Other amounts receivable`41`	1.1m	0	822	0	6,474	0	14,519	14,046	12,001	21,355	45,014	11,315	12,064	-	687,570	1,994	-	4,840	-	-
Cash at bank and in hand`54/58`	36,342	-	0	10	20,440	7,584	25,584	28,023	36,748	35,231	1,772	1,744	2,061	2,055	1,663	-	-	1,001	994	6,449
Deferred charges and accrued income`490/1`	0	4,205	3,536	2,411	2,303	1,988	1,926	1,745	29	-	-	4,410	-	511	660	-	7,866	10,280	142	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	1.2m	1.0m	1.1m	1.2m	1.2m	890,078	720,426	731,640	766,212	838,104	863,949	879,622	911,066	968,866	1.7m	1.2m	700,636	730,850	720,814	735,624
Equity`10/15`	1.1m	222,955	246,723	192,433	160,167	142,801	124,059	102,614	98,934	117,563	116,940	160,861	148,528	116,744	106,797	135,502	243,602	247,713	226,418	214,363
Contributions`10/11`	18,600	18,600	18,600	18,600	18,600	18,600	0	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Issued capital`100`	-	-	-	-	-	-	0	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Contributions outside capital`11`	-	-	-	-	-	-	18,600	-	-	-	-	-	-	-	-	-	-	-	-	-
Share premium`1100/10`	-	-	-	-	-	-	18,600	-	-	-	-	-	-	-	-	-	-	-	-	-
Revaluation surpluses`12`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	258,768	258,768	258,768	258,768
Reserves`13`	1.1m	410,498	434,266	379,977	347,718	330,360	311,621	290,183	286,513	301,154	300,546	254,433	269,328	298,584	298,584	298,584	85,471	102,487	102,487	110,995
Non-distributable reserves`130/1`	-	-	0	1,860	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	0	1,860	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859
Reserves not available under the articles`1311`	-	-	0	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other`1319`	-	-	-	-	-	-	1,860	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax-exempt reserves`132`	0	91,512	96,774	111,415	126,057	140,698	155,340	169,981	184,623	199,264	213,906	227,793	242,688	271,944	271,944	271,944	58,831	75,847	75,847	84,355
Distributable reserves`133`	1.1m	318,986	337,492	266,701	219,801	187,801	154,421	118,341	100,031	100,031	84,781	24,781	24,781	24,781	24,781	24,781	24,781	24,781	24,781	24,781
Profit (loss) carried forward`14`	0	-206,144	-206,144	-206,144	-206,151	-206,158	-206,162	-206,169	-206,179	-202,191	-202,206	-112,172	-139,400	-200,440	-210,387	-181,682	-119,237	-132,142	-153,437	-174,000
Provisions and deferred taxes`16`	0	30,504	153,074	160,184	167,294	174,404	181,514	188,623	195,733	202,843	209,953	216,698	223,931	238,136	238,136	238,136	135,468	125,699	125,699	130,081
Provisions for liabilities and charges`160/5`	-	0	106,081	106,081	106,081	106,081	106,081	106,081	106,081	106,081	106,081	106,081	106,081	106,081	106,081	106,081	105,154	86,623	86,623	86,624
Pensions and similar obligations`160`	-	0	106,081	106,081	106,081	106,081	106,081	106,081	106,081	106,081	-	-	-	-	-	-	-	-	-	-
Deferred taxes`168`	0	30,504	46,993	54,103	61,213	68,323	75,432	82,542	89,652	96,762	103,872	110,617	117,850	132,055	132,055	132,055	30,314	39,076	39,076	43,458
Amounts payable`17/49`	124,674	773,452	703,379	860,040	876,318	572,873	414,854	440,402	471,545	517,698	537,056	502,063	538,607	613,986	1.4m	784,946	321,566	357,438	368,697	391,180
Amounts payable after more than one year`17`	0	463,661	565,463	667,321	737,368	463,250	338,428	378,321	417,323	459,828	486,624	447,123	441,577	466,736	418,646	1,082	114,363	134,649	138,788	159,075
Financial debts`170/4`	0	463,661	565,463	667,321	737,368	463,250	338,428	378,321	417,323	459,828	486,624	447,123	441,577	466,314	417,564	-	114,363	134,649	138,788	159,075
Other amounts payable`178/9`	-	-	-	-	-	-	-	-	-	-	-	-	-	422	1,082	1,082	-	-	-	-
Amounts payable within one year`42/48`	124,674	309,533	137,915	192,719	137,020	108,423	76,425	56,367	53,890	57,870	50,019	49,128	92,295	147,197	913,715	783,674	207,013	222,599	229,719	231,915
Current portion of amounts payable after more than one year`42`	0	107,106	105,822	100,542	93,892	58,794	39,892	39,002	40,185	38,854	32,186	27,090	24,737	23,686	23,686	-	26,403	21,075	20,286	10,971
Financial debts`43`	0	3,686	4,342	1,736	16	-	-	-	-	-	-	-	-	-	692,650	701,323	7,769	20,936	13,088	-
Credit institutions`430/8`	0	3,686	4,342	1,736	16	-	-	-	-	-	-	-	-	-	692,650	701,323	7,769	20,936	13,088	-
Trade debts`44`	3,017	7,425	9,047	37,241	1,974	7,726	11,276	9,171	4,634	1,791	277	10,138	3,953	5,107	2,941	7,687	33,282	21,673	26,478	20,537
Suppliers`440/4`	3,017	7,425	9,047	37,241	1,974	7,726	11,276	9,171	4,634	1,791	277	10,138	3,953	5,107	2,941	7,687	33,282	21,673	26,478	20,537
Taxes, remuneration and social security`45`	119,658	21,866	13,502	16,568	12,778	17,785	20,770	5,254	9,071	17,225	8,056	11,400	11,771	2,868	1,023	-	5,687	2,276	2,179	6,336
Taxes`450/3`	119,658	21,866	13,502	16,568	10,752	15,340	11,419	5,254	4,946	13,982	3,234	11,400	11,771	2,868	1,023	-	5,687	2,276	2,179	6,336
Remuneration and social security`454/9`	-	-	-	0	2,025	2,445	9,350	-	4,125	3,243	4,822	-	-	-	-	-	-	-	-	-
Other amounts payable`47/48`	2,000	169,450	5,202	36,632	28,360	24,117	4,487	2,939	-	-	9,500	500	51,834	115,536	193,415	74,664	133,872	156,639	167,688	194,071
Accrued charges and deferred income`492/3`	0	258	-	0	1,931	1,200	0	5,715	332	-	413	5,812	4,735	53	21,316	190	190	190	190	190
Income statement
Non-recurring operating income`76A`	1.3m	0	892	2,886	-	0	386	7,851	-	-	2,000	-	2,946	-	23,539	423,493	-	-	-	11,439
Gross operating margin`9900`	1.3m	134,083	186,417	186,071	203,255	125,320	95,611	83,555	86,535	133,249	68,379	93,402	105,022	42,277	9,611	-51,569	46,383	61,805	74,237	41,063
Remuneration, social security and pensions`62`	-	-	-	-	-	-	0	8,048	37,822	38,943	21,761	-	-	-	-	-	-	-	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	0	93,029	93,226	86,242	81,212	57,240	52,487	55,416	57,922	67,424	66,042	58,624	61,922	9,021	8,720	67,642	23,205	30,240	52,898	53,272
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	-	-	-	-	-	-	-	-	-	-	3,515	-	-	-	-	-	-	-	-	-
Provisions for liabilities and charges: additions (uses and reversals)`635/8`	0	-106,081	-	-	-	-	-	-	-	-	3,981	-	-	-	-	6,486	6,177	-	-	6,486
Other operating charges`640/8`	13,946	6,448	7,250	4,851	39,450	19,096	1,822	4,164	3,686	3,728	-	4,228	4,794	3,755	12,913	6,884	3,468	2,136	5,497	2,989
Non-recurring operating charges`66A`	387	-	-	-	0	7,048	551	-	-	-	419	-	-	-	-	-	-	-	-	7,500
Operating profit (loss)`9901`	1.2m	140,687	85,942	94,977	82,593	41,936	40,752	15,926	-12,895	23,154	-26,920	30,550	38,306	29,501	-12,022	-132,581	13,533	29,429	15,842	-21,684
Financial income`75/76B`	17,947	1	56	4	58	0	1	-	9	-	101	-	-	3,797	48	110	34	27	-	28
Recurring financial income`75`	17,947	1	56	4	58	0	1	-	9	-	101	-	-	3,797	48	110	34	27	-	28
Financial charges`65/66B`	12,601	35,301	9,710	50,378	58,208	11,185	9,751	10,460	10,617	19,471	19,313	20,322	22,855	23,250	31,661	44,179	14,084	8,156	8,168	18,188
Recurring financial charges`65`	12,601	35,301	9,710	50,378	58,208	11,185	9,751	10,460	10,617	19,471	19,313	20,322	22,855	23,250	31,661	44,179	14,084	8,156	8,168	18,188
Profit (loss) for the period before taxes`9903`	1.2m	105,388	76,288	44,603	24,443	30,752	31,002	5,466	-23,503	3,683	-44,551	10,228	18,397	10,048	-20,096	246,843	-517	21,300	7,674	-35,904
Transfer from deferred taxes`780`	30,504	5,438	7,110	7,110	7,110	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes`67/77`	421,305	51,226	28,275	18,647	13,387	18,319	15,855	8,096	2,236	10,170	6,115	5,128	818	101	8,609	-7	2	5	-	1
Profit (loss) for the period`9904`	856,720	59,600	55,123	33,066	18,166	19,543	22,257	4,480	-18,629	623	-43,921	12,333	31,784	9,947	-28,705	139,845	3,862	21,295	12,055	-31,524
Transfer from tax-exempt reserves`789`	91,512	16,313	14,641	14,641	14,641	14,641	14,641	14,641	14,641	14,642	13,887	14,895	29,256	-	-	69,941	8,508	-	8,508	8,508
Transfer to tax-exempt reserves`689`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	277,791	-	-	-	-
Profit (loss) for the period to be appropriated`9905`	948,232	75,913	69,765	47,707	32,807	34,184	36,898	19,121	-3,988	15,265	-30,034	27,228	61,040	9,947	-28,705	-68,005	12,370	21,295	20,563	-23,016
Appropriation of the result
Profit (loss) to be appropriated`9906`	742,088	-130,230	-136,380	-158,444	-173,351	-171,978	-169,270	-187,058	-206,179	-186,941	-142,206	-112,172	-139,400	-200,440	-210,387	-181,682	-119,237	-132,142	-153,437	-174,000
Profit (loss) brought forward from the previous period`14P`	-206,144	-206,144	-206,144	-206,151	-206,158	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer from equity`791/2`	23,349	94,419	833	800	0	800	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	765,438	75,913	69,764	47,700	32,000	34,180	36,080	18,311	-	15,250	60,000	-	-	-	-	-	-	-	-	-
To the legal reserve`6920`	-	-	-	-	-	-	0	1	-	-	-	-	-	-	-	-	-	-	-	-
To other reserves`6921`	765,438	75,913	69,764	47,700	32,000	34,180	36,080	18,310	-	15,250	60,000	-	-	-	-	-	-	-	-	-
Profit to be distributed`694/7`	0	94,419	833	800	800	800	812	800	-	-	-	-	-	-	-	-	-	-	-	-
Return on contributions (dividend)`694`	0	94,419	833	800	800	800	812	800	-	-	-	-	-	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	-	-	-	-	-	-	-	-	0.8	1	1	-	-	-	-	-	-	-	-	-
Hours worked`1013`	-	-	-	-	-	-	-	-	1,501	1,715	932	-	-	-	-	-	-	-	-	-
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Financial year	Type	Filed	Reference	Document
30-06-2026	micro format	07-10-2026	2026-00550068	PDF
30-06-2025	micro format	03-01-2026	2026-00000460	PDF
30-06-2024	micro format	09-01-2025	2025-00002504	PDF
30-06-2023	micro format	05-01-2024	2024-00545172	PDF
30-06-2022	micro format	17-01-2023	2023-20558994	PDF
30-06-2021	micro format	31-12-2021	2021-82300123	PDF
30-06-2020	micro format	31-12-2020	2020-77500442	PDF
30-06-2019	micro format	13-01-2020	2020-01600026	PDF
30-06-2018	micro format	09-01-2019	2019-00800418	PDF
30-06-2017	micro format	31-01-2018	2018-03600582	PDF
30-06-2016	abbreviated format	17-02-2017	2017-04600445	PDF
30-06-2015	abbreviated format	23-02-2016	2016-04800259	PDF
30-06-2014	abbreviated format	18-02-2015	2015-04400315	PDF
30-06-2013	abbreviated format	25-02-2014	2014-05000053	PDF
30-06-2012	abbreviated format	28-02-2013	2013-04900595	PDF
30-06-2011	abbreviated format	26-04-2012	2012-09900600	PDF
30-06-2010	abbreviated format	23-12-2011	2011-64900432	PDF
30-06-2009	abbreviated format	14-01-2010	2010-01400397	PDF
30-06-2008	abbreviated format	14-01-2010	2010-01500036	PDF
30-06-2007	abbreviated format	17-01-2008	2008-01500276	PDF
30-06-2006	abbreviated format	22-02-2007	2007-05405082	PDF
30-06-2005	abbreviated format	31-01-2006	2006-03803963	PDF
30-09-2003	abbreviated format	07-05-2004	2004-13802593	PDF
30-09-2002	abbreviated format	22-04-2003	2003-11500710	PDF
30-09-2001	abbreviated format	19-09-2002	2002-57004973	PDF
30-09-2000	abbreviated format	09-07-2001	2001-35601257	PDF
30-09-1999	abbreviated format	08-05-2000	2000-11800028	PDF
30-09-1998	abbreviated format	23-03-1999	1999-05203639	PDF
30-09-1997	abbreviated format	19-05-1998	1998-10301125	PDF
30-09-1996	abbreviated format	26-05-1997	1997-09204658	PDF
30-09-1995	abbreviated format	04-04-1996	1996-05600397	PDF
30-09-1994	abbreviated format	04-04-1995	1995-05104332	PDF
30-09-1993	abbreviated format	31-03-1994	1994-05303897	PDF
30-09-1992	abbreviated format	01-04-1993	1993-04704259	PDF
30-09-1991	abbreviated format	02-04-1992	1992-03700495	PDF
30-09-1990	abbreviated format	02-04-1991	1991-03304297	PDF
31-12-1989	abbreviated format	05-07-1990	1990-15501048	PDF

Line	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
EBITDA	1.2m	233,715	179,168	181,219	163,805	99,176	93,239	71,342	45,027	90,578	39,122	89,174	100,228	38,522	-3,302	-64,939	36,738	59,669	68,740	31,588
Cash flow	856,720	152,628	148,349	119,308	99,378	76,782	74,744	59,896	39,293	68,047	22,121	70,957	93,706	18,968	-19,985	207,487	27,067	51,535	64,953	21,748
Investment in fixed assets (approximation)	-1.0m	14,066	21,172	98,184	447,077	248,424	16,229	26,734	12,595	16,747	39,919	2,993	7,531	70,029	309,731	1.2m	1,246	290	2,838	17,650
Change in cash	-	-	-10	-20,430	12,856	-17,999	-2,440	-8,725	1,517	33,459	28	-317	6	392	-	-	-	7	-5,455	-
Working capital	1.1m	-300,127	-131,208	-152,652	-107,202	-28,702	-4,391	-11,938	-3,572	19,013	1,932	-10,746	-78,100	-132,531	-175,947	-749,737	-14,724	-22,055	-69,161	-106,607
Solvency	89.6%	21.7%	22.4%	15.9%	13.3%	16.0%	17.2%	14.0%	12.9%	14.0%	13.5%	18.3%	16.3%	12.0%	6.3%	11.7%	34.8%	33.9%	31.4%	29.1%
Current ratio	9.66	0.03	0.05	0.21	0.22	0.74	0.94	0.79	0.93	1.33	1.04	0.78	0.15	0.10	0.81	0.04	0.93	0.90	0.70	0.54
Debt to equity	0.12	3.47	2.85	4.47	5.47	4.01	3.34	4.29	4.77	4.40	4.59	3.12	3.63	5.26	12.68	5.79	1.32	1.44	1.63	1.82
ROE	79.3%	26.7%	22.3%	17.2%	11.3%	13.7%	17.9%	4.4%	-18.8%	0.5%	-37.6%	7.7%	21.4%	8.5%	-26.9%	103.2%	1.6%	8.6%	5.3%	-14.7%
ROA	71.1%	5.8%	5.0%	2.7%	1.5%	2.2%	3.1%	0.6%	-2.4%	0.1%	-5.1%	1.4%	3.5%	1.0%	-1.7%	12.1%	0.6%	2.9%	1.7%	-4.3%
Interest coverage	98.58	6.62	18.45	3.60	2.81	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	30-06-2026	30-06-2025	30-06-2024	30-06-2023	30-06-2022
Mortgages, amount registered	-	€200,000	€200,000	€200,000	€200,000
Mortgage mandates	-	€591,000	€591,000	€591,000	€591,000
Carrying value of the mortgaged assets	-	€709,870	€751,406	€804,134	€813,363

Item	30-06-2026	30-06-2025	30-06-2024	30-06-2023	30-06-2022
Tangible fixed assets	-	€14,066	€21,172	€97,684	€447,077
Financial fixed assets	-	-	-	€500	-
Depreciation and write-downs of the year	€0	€93,029	€93,226	€86,242	€81,212

V2

Annual accounts 2026

Balance sheet

Change in equityin €m

Change in cash

Staff

Staff cost per FTE

Filed annual accounts

Filings

Key figures and ratios

Securities and guarantees

Investments

Insights on V2