Summary
D PARTICIPATION MANAGEMENT is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €178.72M and a net result of €-171.81M. Equity is growing by ~3% per year across the filed fiscal years. Its solvency ranks better than 11% of 2777 sector peers (fiscal year 2024). The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Credit check for your own amount and term
Signals
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Filed annual accounts As filed with the NBB · 2024 against 2023 · 51 lines
The notes to these accounts (33 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €112k | €3.46M | €5.80M | ▲ 67.5% |
| Non-recurring operating income76A | - | - | €112k | €3.46M | €5.80M | ▲ 67.5% |
| Operating charges60/66A | - | €18k | €46k | €61k | €1.18M | ▲ 1,817% |
| Services and other goods61 | - | €17k | €45k | €59k | €1.18M | ▲ 1,878% |
| Other operating charges640/8 | - | €868 | €1k | €2k | - | - |
| Operating profit (loss)9901 | €-444 | €-18k | €66k | €3.40M | €4.62M | ▲ 36.0% |
| Financial income75/76B | - | €10.30M | €16.77M | €20.23M | €19.07M | ▼ 5.7% |
| Recurring financial income75 | €7.87M | €10.30M | €10.74M | €20.23M | €19.07M | ▼ 5.7% |
| Income from financial fixed assets750 | - | €10.30M | €10.74M | €20.15M | €19.07M | ▼ 5.4% |
| Other financial income752/9 | - | - | - | €74k | - | - |
| Non-recurring financial income76B | - | - | €6.03M | - | - | - |
| Financial charges65/66B | - | €10.73M | €24.54M | €43.36M | €195.50M | ▲ 351% |
| Recurring financial charges65 | €7.03M | €10.73M | €24.54M | €43.36M | €55.10M | ▲ 27.1% |
| Debt charges650 | €7.03M | €10.73M | €24.53M | €43.36M | €44.34M | ▲ 2.2% |
| Other financial charges652/9 | - | €343 | €10k | €388 | €10.77M | ▲ 2,774,509% |
| Non-recurring financial charges66B | - | - | - | - | €140.40M | - |
| Profit (loss) for the period before taxes9903 | €-33.80M | €-448k | €-7.70M | €-19.74M | €-171.81M | ▼ 771% |
| Income taxes67/77 | €210k | €-111 | - | - | - | - |
| Tax adjustments and reversals of tax provisions77 | - | €111 | - | - | - | - |
| Profit (loss) for the period9904 | €-34.01M | €-448k | €-7.70M | €-19.74M | €-171.81M | ▼ 771% |
| Profit (loss) for the period to be appropriated9905 | €-34.01M | €-448k | €-7.70M | €-19.74M | €-171.81M | ▼ 771% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €372.14M | €882.71M | €1.48B | €1.43B | €2.17B | ▲ 52.0% |
| Fixed assets21/28 | €371.30M | €881.60M | €1.47B | €1.42B | €2.17B | ▲ 52.4% |
| Financial fixed assets28 | €371.30M | €881.60M | €1.47B | €1.42B | €2.17B | ▲ 52.4% |
| Affiliated companies280/1 | - | €881.60M | €1.47B | €1.42B | €2.17B | ▲ 52.4% |
| Participating interests280 | - | €617.45M | €1.20B | €1.15B | €1.92B | ▲ 66.3% |
| Amounts receivable281 | - | €264.14M | €272.26M | €272.26M | €255.34M | ▼ 6.2% |
| Current assets29/58 | €840k | €1.12M | €3.47M | €6.09M | €3.57M | ▼ 41.4% |
| Amounts receivable within one year40/41 | €737k | €1.05M | €737k | €737k | €737k | = |
| Other amounts receivable41 | - | €1.05M | €737k | €737k | €737k | = |
| Current investments50/53 | - | - | - | €5.00M | - | - |
| Other investments51/53 | - | - | - | €5.00M | - | - |
| Cash at bank and in hand54/58 | €75k | €42k | - | €119k | €2.56M | ▲ 2,045% |
| Deferred charges and accrued income490/1 | - | €29k | €2.73M | €232k | €273k | ▲ 17.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €372.14M | €882.71M | €1.48B | €1.43B | €2.17B | ▲ 52.0% |
| Equity10/15 | €120.33M | €119.88M | €370.27M | €350.53M | €178.72M | ▼ 49.0% |
| Contributions10/11 | €209.36M | €120.27M | €378.36M | €378.36M | €378.36M | = |
| Capital10 | - | €120.27M | €378.36M | €378.36M | €378.36M | = |
| Issued capital100 | - | €120.27M | €378.36M | €378.36M | €378.36M | = |
| Reserves13 | €63k | €63k | €63k | €63k | €63k | = |
| Non-distributable reserves130/1 | - | €63k | €63k | €63k | €63k | = |
| Legal reserve130 | - | €63k | €63k | €63k | €63k | = |
| Profit (loss) carried forward14 | €-89.10M | €-448k | €-8.15M | €-27.89M | €-199.69M | ▼ 616% |
| Amounts payable17/49 | €251.81M | €762.83M | €1.11B | €1.08B | €2.00B | ▲ 84.8% |
| Amounts payable after more than one year17 | €251.78M | €760.97M | €1.09B | €1.05B | €1.95B | ▲ 85.9% |
| Financial debts170/4 | - | €760.97M | €1.09B | €1.05B | €1.95B | ▲ 85.9% |
| Credit institutions173 | - | - | - | - | €900.00M | - |
| Other loans174 | - | €760.97M | €1.09B | €1.05B | €1.05B | = |
| Amounts payable within one year42/48 | €5k | €302k | €1.30M | €17k | €791k | ▲ 4,442% |
| Financial debts43 | - | €302k | €1.29M | - | - | - |
| Credit institutions430/8 | - | - | €1.29M | - | - | - |
| Other loans439 | - | €302k | - | - | - | - |
| Trade debts44 | - | - | €8k | €17k | €791k | ▲ 4,442% |
| Suppliers440/4 | - | - | €8k | €17k | €791k | ▲ 4,442% |
| Taxes, remuneration and social security45 | - | - | €4k | - | - | - |
| Taxes450/3 | - | - | €4k | - | - | - |
| Accrued charges and deferred income492/3 | - | €1.56M | €16.56M | €32.32M | €47.68M | ▲ 47.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-34.01M | €-448k | €-7.70M | €-19.74M | €-171.81M | ▼ 771% |
| Operating cash flow (approximation) | €-34.01M | €-448k | €-7.70M | €-19.74M | €-171.81M | ▼ 771% |
| Investment in fixed assets (approximation) | - | €-510.29M | €-593.26M | €50.40M | €-746.84M | ▼ 1,582% |
| Change in cash | - | €-33k | - | - | €2.44M | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
20-07
State Gazette act
Reappointment: KPMG Réviseurs d'Entreprises BV/SRL (statutory auditor)Permanent representative: Grégory Gonzalez3 facts ▸
- General meeting, 13-05-2026
- Auditor reappointment, KPMG Réviseurs d'Entreprises BV/SRL (statutory auditor)
- Permanent representative, Grégory Gonzalez
10-03
State Gazette act
Capital & shares · Statutes amendmentCapital increase · Share issue · Capital5 facts ▸
- General meeting, 27-02-2026
- Capital increase, €171.623.304,1
- Share issue, actions sans mention de valeur nominale, 273
- Capital, €867.678.949,16
- Statutes amendment
30-01
State Gazette act
Resignation: Nicolas Saillez (director)Appointment: Jean-François Bourguignon (director) · Director discharge · Mandate compensation5 facts ▸
- General meeting, 18-12-2025
- Director resignation, Nicolas Saillez (director)
- Director discharge, Nicolas Saillez (director)
- Director appointment, Jean-François Bourguignon (director)
- Mandate compensation, Jean-François Bourguignon
25-11
State Gazette act
Capital & shares · Statutes amendmentCapital increase · Capital · Power of attorney4 facts ▸
- General meeting, 13-11-2025
- Capital increase, €12.000.000
- Capital, €696.055.645,06
- Power of attorney
16-06
State Gazette act
Capital & sharesCapital increase · Capital · Bank account6 facts ▸
- General meeting, 04-06-2025
- Capital increase, €260.700.000
- Capital, €639.055.645,06
- Capital increase, €45.000.000
- Capital, €684.055.645,06
- Bank account, BNP Paribas Fortis, BE69 0020 0718 0378
11-06
State Gazette act
Registered officeDomicile election2 facts ▸
- General meeting, 14-05-2025
- Domicile election, Election domicile des administrateurs au siège de la société
18-02
State Gazette act
Reappointments: Amélie Coens (director) and Nicolas Saillez (director)Mandate compensation5 facts ▸
- General meeting, 08-05-2024
- Director reappointment, Amélie Coens (director)
- Mandate compensation, Amélie Coens
- Director reappointment, Nicolas Saillez (director)
- Mandate compensation, Nicolas Saillez
06-10
State Gazette act
Resignation: Arnaud Laviolette (director)Appointment: Edouard Janssen (director) · Director discharge · Mandate compensation5 facts ▸
- General meeting, 31-08-2023
- Director resignation, Arnaud Laviolette (director)
- Director discharge, Arnaud Laviolette (director)
- Director appointment, Edouard Janssen (director)
- Mandate compensation, Edouard Janssen
Show earlier events
10-08
State Gazette act
Reappointment: KPMG Réviseurs d'Entreprises BV/SRL (statutory auditor)Permanent representative: Axel Jorion · Mandate compensation4 facts ▸
- General meeting, 10-05-2023
- Auditor reappointment, KPMG Réviseurs d'Entreprises BV/SRL
- Permanent representative, Axel Jorion
- Mandate compensation, KPMG Réviseurs d'Entreprises BV/SRL
02-08
State Gazette act
Capital & shares · Statutes amendmentCapital increase · Bank account · Capital5 facts ▸
- General meeting, 27-07-2022
- Capital increase, €258.090.000
- Bank account, BNP Paribas Fortis, 26-07-2022
- Capital, €378.355.645,06
- Statutes amendment
05-11
State Gazette act
Capital & shares · Statutes amendmentCapital decrease · Capital4 facts ▸
- General meeting, 01-10-2021
- Capital decrease, €89.095.854,94
- Capital, €120.265.645,06
- Statutes amendment
09-03
State Gazette act
Resignations & appointmentsBoard meeting1 fact ▸
- Board meeting, 03-02-2021
14-08
State Gazette act
Reappointments: Amélie COENS, Arnaud LAVIOLETTE and 2 othersPermanent representative: Axel Jorion · Auditor remuneration7 facts ▸
- General meeting, 13-05-2020
- Director reappointment, Amélie COENS (director)
- Director reappointment, Arnaud LAVIOLETTE (director)
- Director reappointment, Nicolas SAILLEZ (director)
- Auditor reappointment, KPMG Réviseurs d'Entreprises SCRL (statutory auditor)
- Permanent representative, Axel Jorion (permanent representative)
- Auditor remuneration, EUR 1.650, hors frais forfaitaires (6%) et hors TVA
31-07
State Gazette act
Reappointment: KPMG Réviseurs d'Entreprises SCRL civile (statutory auditor)Permanent representative: Alexis Palm · Auditor emoluments4 facts ▸
- General meeting, 10-05-2017
- Auditor reappointment, KPMG Réviseurs d'Entreprises SCRL civile (statutory auditor)
- Permanent representative, Alexis Palm (permanent representative)
- Auditor emoluments, applicable, 1523
03-11
State Gazette act
Resignations: Axel Miller (director) and Paul Monville (director)Appointments: Nicolas Saillez (director) and Arnaud Laviolette (director) · Mandate compensation7 facts ▸
- General meeting, 26-09-2016
- Director resignation, Axel Miller (director)
- Director resignation, Paul Monville (director)
- Director appointment, Nicolas Saillez (director)
- Director appointment, Arnaud Laviolette (director)
- Mandate compensation, Nicolas Saillez
- Mandate compensation, Arnaud Laviolette
19-10
State Gazette act
Capital & shares · Purpose · Resignations & appointmentsName change · Purpose change · Capital increase6 facts ▸
- General meeting, 23-09-2016
- Name change, D Participation Management
- Purpose change, La société a pour objet, en Belgique et à l'étranger, soit directement, soit comme intermédiaire, ce qui est prévu ci-après: La société peut, par voie d'apport…
- Capital increase, €208.000.000
- Bank account, BE97 0017 9568 8349
- Capital, €209.361.500
20-06
State Gazette act
Resignation: Anne del MARMOL (director)Appointment: Amélie COENS (director) · Mandate compensation4 facts ▸
- General meeting, 11/05/2016
- Director resignation, Anne del MARMOL (director)
- Director appointment, Amélie COENS (director)
- Mandate compensation, Amélie COENS
25-06
State Gazette act
Resignations: Jean HEINEN, Arnaud DRESSE and Philippe PETITAppointments: Anne del! MARMOL, Axel MILLER and Paul MONVILLE · Mandate compensation10 facts ▸
- General meeting, 13-05-2015
- Director resignation, Jean HEINEN (director)
- Director resignation, Arnaud DRESSE (director)
- Director resignation, Philippe PETIT (director)
- Director appointment, Anne del! MARMOL (director)
- Director appointment, Axel MILLER (director)
- Director appointment, Paul MONVILLE (director)
- Mandate compensation, Anne del! MARMOL
- Mandate compensation, Axel MILLER
- Mandate compensation, Paul MONVILLE
18-07
State Gazette act
Capital & sharesCapital increase · Bank account · Capital5 facts ▸
- General meeting, 23-06-2014
- Capital increase, €1.300.000
- Bank account, ING, BE44 3631 3580 0545
- Capital, €1.361.500
- Statutes amendment
12-06
State Gazette act
Appointment: KPMG Réviseurs d'Entreprises SCRL civile (statutory auditor)Permanent representative: Alexis PALM3 facts ▸
- General meeting, 14-05-2014
- Auditor appointment, KPMG Réviseurs d'Entreprises SCRL civile (statutory auditor)
- Permanent representative, Alexis PALM
06-06
State Gazette act
Resignations: Jean-Pierre BIZET, Philippe SIMONART and 2 othersAppointments: Denis GORTEMAN, Arnaud DRESSE and 2 others9 facts ▸
- General meeting, 08-05-2013
- Director resignation, Jean-Pierre BIZET (director)
- Director resignation, Philippe SIMONART (director)
- Director resignation, Philippe PETIT (director)
- Director appointment, Denis GORTEMAN (director)
- Director appointment, Arnaud DRESSE (director)
- Director appointment, Jean HEINEN (director)
- Director resignation, Denis GORTEMAN (director)
- Director appointment, Philippe PETIT (director)
22-01
State Gazette act
Resignation: Denis GORTEMAN (director)Appointment: Philippe PETIT (director) · Mandate compensation4 facts ▸
- Board meeting, 12-12-2012
- Director resignation, Denis GORTEMAN (director)
- Director appointment, Philippe PETIT (director)
- Mandate compensation, Philippe PETIT
20-11
State Gazette act
Resignations: Jean-Pierre BIZET, Philippe PETIT and Philippe SIMONARTAppointments: Denis GORTEMAN, Jean HEINEN and Arnaud DRESSE · Mandate compensation10 facts ▸
- Board meeting, 08-10-2012
- Director resignation, Jean-Pierre BIZET (director)
- Director resignation, Philippe PETIT (director)
- Director resignation, Philippe SIMONART (director)
- Director appointment, Denis GORTEMAN (director)
- Director appointment, Jean HEINEN (director)
- Director appointment, Arnaud DRESSE (director)
- Mandate compensation, Denis GORTEMAN
- Mandate compensation, Jean HEINEN
- Mandate compensation, Arnaud DRESSE
03-04
State Gazette act
Resignations: Christophe Delacroix (director) and Thierry Verbist (director)3 facts ▸
- Board meeting, 15-03-2012
- Director resignation, Christophe Delacroix (director)
- Director resignation, Thierry Verbist (director)
07-02
State Gazette act
Resignation: Thierry van Kan (managing director)2 facts ▸
- Board meeting, 20-01-2012
- Director resignation, Thierry van Kan (managing director)
27-06
State Gazette act
Reappointments: BDO scrl, Jean-Pierre Bizet and 5 others8 facts ▸
- General meeting, 11-05-2011
- Auditor reappointment, BDO scrl
- Director reappointment, Jean-Pierre Bizet (director)
- Director reappointment, Christophe Delacroix (director)
- Director reappointment, Philippe Petit (director)
- Director reappointment, Philippe Simonart (director)
- Director reappointment, Thierry van Kan (director)
- Director reappointment, Thierry Verbist (director)
31-05
State Gazette act
Reappointments: BDO cvba, Jean-Pierre Bizet and 5 others8 facts ▸
- General meeting, 11-05-2011
- Auditor reappointment, BDO cvba
- Director reappointment, Jean-Pierre Bizet (director)
- Director reappointment, Christophe Delacroix (director)
- Director reappointment, Philippe Petit (director)
- Director reappointment, Philippe Simonart (director)
- Director reappointment, Thierry van Kan (director)
- Director reappointment, Thierry Verbist (director)
09-03
State Gazette act
Resignation: Denis Gorteman (director)Appointment: Philippe Simonart (director)5 facts ▸
- Board meeting, 14-11-2008
- Director resignation, Denis Gorteman (director)
- Director appointment, Philippe Simonart (director)
- Director appointment, Philippe Simonart (director)
- Director appointment, Philippe Simonart (director)
Directors · office · real estate
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21447B0305/00Y027 | Brussels | 1.7 ha | 1 · 7,305 m² | 33.4 m · 2 fl. |
Linked by address, not proof of ownership
Statutory auditor
1 auditor| KPMG Réviseurs d'Entreprises BV/SRLCurrent Statutory auditor · represented by Grégory Gonzalez | 14-05-2014 → present |
Show 1 earlier auditors
| CVBA BDO Auditor succeeded by KPMG Réviseurs d'Entreprises BV/SRL in 2014 | 11-05-2011 → 14-05-2014 |
Articles of association
Full purpose
La société a pour objet, en Belgique et à l'étranger, soit directement, soit comme intermédiaire, ce qui est prévu ci-après: La société peut, par voie d'apport en espèces ou en nature, de fusion, de souscription, de participation, d'intervention financière ou autrement, prendre des participations dans d'autres sociétés ou entreprises existantes ou à créer, que ce soit en Belgique ou à l'étranger. Elle peut constituer, développer et gérer un patrimoine mobilier et faire toutes opérations mobilières quelconques y compris celles se rapportant à tous droits mobiliers comme l'acquisition, la cession et la gestion d'actions, de parts, d'obligations convertibles ou non, de prêts de consommation, de prêts ordinaires, de bons de caisse ou autres valeurs mobilières, de quelque forme que ce soit. Elle peut faire toutes opérations se rapportant directement ou indirectement au management en général, et plus précisément, sans que cette énumération ne soit limitative: la création de sociétés holding ou d'exploitation, toutes activités d'études et de conseils, toutes prestations de services, tous travaux d'administration et de gestion. La société pourra exercer tout mandat généralement quelconque ainsi que toute fonction autorisée dans toute personne morale belge ou étrangère en ce compris la fonction d'administrateur, de délégué à la gestion journalière, de gérant et de liquidateur. Ce mandat pourra être rémunéré ou gratuit. Elle peut également consentir tous prêts ou garantir tous prêts consentis par des tiers, étant entendu que la société n'effectuera aucune activité dont l'exercice serait soumis à des dispositions légales ou réglementaires applicables aux établissements de crédits et/ou financiers. Elle peut hypothéquer ses immeubles et mettre en gage tous ses autres biens. Elle peut se porter caution et donner toute sûreté personnelle ou réelle en faveur de toute personne ou société liée ou non. Elle peut faire toutes opérations commerciales, financières, immobilières et mobilières, se rapportant directement ou indirectement à son objet ou susceptibles de favoriser son développement.
Structure & network
Connections & network
36 connected companiesShow 32 more companies with a shared director
Ownership & control
1 parent companyCapital and shareholders
- 10-03-2026 Capital increase of 171,623,304.10 EUR · to 867,678,949.16 EUR · in kind
- 25-11-2025 Capital increase of 12,000,000 EUR · to 696,055,645.06 EUR
- 16-06-2025 Capital increase of 260,700,000 EUR · to 639,055,645.06 EUR · 423 new shares · in kind
- 16-06-2025 Capital increase of 45,000,000 EUR · to 684,055,645.06 EUR · 73 new shares · in cash
- 02-08-2022 Capital increase of 258,090,000 EUR · to 378,355,645.06 EUR · in cash
- 05-11-2021 Capital reduction of 89,095,854.94 EUR · to 120,265,645.06 EUR · to absorb losses
- 19-10-2016 Capital increase of 208,000,000 EUR · to 209,361,500 EUR · in cash
- 18-07-2014 Capital increase of 1,300,000 EUR · to 1,361,500 EUR · in cash
Recognitions · licences · registrations
Legal Entity Identifier
Similar companies · same sector, comparable size
Identification & contact
Scores and ratios are computed by Checked and are not a credit decision.