CASSIOPEIA
CASSIOPEIA and the 23 companies it controls according to the LEI register and the annual accounts: the structure, the figures, each company's health and where the risk sits.
Sum of the filed annual accounts of 24 of the 24 Belgian companies (fiscal years 2025). Not a consolidation: receivables, participations and sales between group companies are not eliminated, so they count.
Group risk
How healthy the group's Belgian companies are, and where the risk sits. A weak subsidiary can cost the parent money, and the other way round.
- The parent itself: CASSIOPEIA, healthy (68/100).
- 9 companies with a loss in the latest year: WILLEMEN GROEP (-€9.8m), WILLEMEN GLOBAL (-€98,220), CASSIOPEIA (-€47,040), WP STEEL BE (-€8,564), DALTECNIC (-€5,759), AMADEUS (-€2,096) and 3 more.
- 36.2% of the added-up total assets sits in one company: WILLEMEN INFRA.
- 24.5% of the added-up total assets sits at companies with an elevated or high risk.
Group structure
Who consolidates whom according to the LEI register, completed with who holds more than half of the shares according to the annual accounts. Both mean control.
- CASSIOPEIA2 subsidiariesHealthy · 68€32.2m €30.9m 2025
- Healthy · 60€9.7m €3.2m 2025
- WILLEMEN GROEP15 subsidiariesElevated · 43€170.0m €33.4m 2025
- Healthy · 72€194,225 €155,779 2025
- Healthy · 80€5.8m €4.8m 2025
- Fair · 50€9,002 €9,002 2025
- Healthy · 70€942,551 €914,590 2025
- Healthy · 79€2.4m €2.2m 2025
- Healthy · 61€8.5m €950,226 2025
- Elevated · 43€342,091 €8,802 2025
- No verdict€3.3m €60,344 2025
- Healthy · 69€2.5m €625,491 2025
- Willemen Bouw1 subsidiaryFair · 58€151.1m €30.3m 2025
- No verdict€779,935 €36,784 2025
- Healthy · 66€20.0m €7.8m 2025
- Healthy · 69€2.0m €1.3m 2025
- WILLEMEN INFRA4 subsidiariesHealthy · 60€251.5m €87.0m 2025
- Healthy · 76€3.0m €3.0m 2025
- Fair · 57€263,087 €263,087 2025
- Healthy · 81€2.6m €1.9m 2025
- Healthy · 72€17.0m €16.4m 2025
- WILLEMEN PROJECT FINANCE1 subsidiaryHealthy · 77€1.4m €1.1m 2025
- Fair · 51€50,417 €4,012 2025
- Fair · 59€8.8m €4.4m 2025
High risk Elevated Healthy Fair No verdict Amounts: total assets and equity from the latest accounts.
Shared directors
Who sits on the boards of several group companies. This is where control over the group sits in practice.
- 4
- 3
- 2
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2WILLEMEN GROEPgroup company
- 2
Events in the group
Bankruptcies, director changes, capital changes and other publications of all Belgian group companies, over the last two years.
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3 directors appointed
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6 directors resigning, 7 reappointed
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2 directors appointed, 3 directors resigning
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Where do these figures come from?
Completed with the annual accounts: a company of which another Belgian company holds more than half of the shares, by the list of holdings or the shareholder structure in its accounts, stands under that company, with the share. The register of ultimate beneficial owners (UBO) is not public.
The group's make-up comes from the LEI register (GLEIF): which company consolidates which other, directly or ultimately. A company whose link the register does not state is not listed here, even if it does belong to the group.
The amounts are those of the annual accounts each Belgian company filed with the National Bank, added up without consolidation. The verdict per company is that of its dossier on Checked.be. Everything is updated every night.
Updated on 27-09-2026