ELICIO
ActiveSummary
ELICIO has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €263.26M and a net result of €65.92M. Equity is growing by ~86.6% per year across the filed fiscal years. Its solvency ranks better than 91% of 356 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability31▲+3
Solvency100=
Growth66▲+2
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €260k at 30 days acceptable
Liquidity ample (current ratio 4.66 against 2.7 in 2023; short-term debt: 10.7% and cash: 4.8% of total assets), and 11.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Sector 35
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
88.7%
Return on assets
22.2%
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 15-06-2025, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
46 d early
2023
60 d early
2022
48 d early
2021
44 d early
2020
45 d early
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€2.64M▲ 10.4%
2023 · €2.39M
2018: €2.27M
2019: €1.40M
2020: €2.69M
2021: €2.01M
2022: €2.01M
2023: €2.39M
2018 → 2024
EBIT margin
-246.0%▼ 16.8pp
2023 · -229.2%
2018: -198.5%
2019: -322.7%
2020: -147.9%
2021: -305.9%
2022: -224.5%
2023: -229.2%
2018 → 2024
Net result
€65.92M▲ 38.2%
2023 · €47.71M
2018: €1.43M
2019: €2.08M
2020: €-1.85M
2021: €-7.33M
2022: €32.93M
2023: €47.71M
2018 → 2024
Working capital
€116.59M▲ 113%
2023 · €54.79M
2018: €23.01M
2019: €33.60M
2020: €70.23M
2021: €43.05M
2022: €51.32M
2023: €54.79M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€2.69M-€2.01M▼ 25.1%€2.01M▼ 0.4%€2.39M▲ 19.3%€2.64M▲ 10.4%
Equity€49.08M-€41.76M▼ 14.9%€166.78M▲ 299%€227.35M▲ 36.3%€263.26M▲ 15.8%
Operating result€-3.97M-€-6.16M▼ 55.0%€-4.50M▲ 26.9%€-5.48M▼ 21.8%€-6.50M▼ 18.5%
Net result€-1.85M-€-7.33M▼ 296%€32.93M€47.71M▲ 44.9%€65.92M▲ 38.2%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €6.50M in 2024 against €5.48M in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €296.76M
Fixed assets
€148.32M ▼ 14.9%
Current assets
€148.44M ▲ 70.5%
Equity and liabilities €296.76M
Equity
€263.26M ▲ 15.8%
Provisions
€774k ▲ 1.2%
Debt
€32.72M ▼ 1.3%
Debt's share of the balance-sheet total falls from 12.7% to 11.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€-6.23M▼
2023 · €-5.27M
Cash flow
€66.18M▲
2023 · €47.92M
Current ratio
4.66▲
2023 · 2.70
Debt to equity
0.12▼
2023 · 0.15
ROE
25.0%▲
2023 · 21.0%
ROA
22.2%▲
2023 · 18.3%
Interest coverage
-60.95▼
2023 · -16.66
Debt ≤ 1 year
€31.85M▼
2023 · €32.26M
Debt > 1 year
€425k▼
2023 · €567k
Income taxes
€9k▼
2023 · €14k
Staff costs
€6.68M▲
2023 · €6.63M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 93 lines
Balance sheet
Code20232024
Assets
Total assets20/58€261.28M€296.76M▲
Fixed assets21/28€174.23M€148.32M▼
Intangible fixed assets21€52k€111k▲
Tangible fixed assets22/27€2.12M€3.47M▲
Land and buildings22€1.70M€3.03M▲
Plant, machinery and equipment23€72k€141k▲
Furniture and vehicles24€121k€275k▲
Other tangible fixed assets26€4k€17k▲
Assets under construction and advance payments27€231k-
Financial fixed assets28€172.06M€144.74M▼
Affiliated companies280/1€171.69M€144.37M▼
Participating interests280€86.53M€88.60M▲
Amounts receivable281€85.16M€55.77M▼
Other financial fixed assets284/8€369k€369k=
Amounts receivable and cash guarantees285/8€369k€369k=
Current assets29/58€87.04M€148.44M▲
Amounts receivable after more than one year29-€72k
Trade receivables290-€72k
Stocks and contracts in progress3€2.28M-
Stocks30/36€2.28M-
Property held for sale35€2.28M-
Amounts receivable within one year40/41€1.52M€2.17M▲
Trade receivables40€1.22M€812k▼
Other amounts receivable41€299k€1.36M▲
Current investments50/53€76.30M€131.43M▲
Other investments51/53€76.30M€131.43M▲
Cash at bank and in hand54/58€6.78M€14.28M▲
Deferred charges and accrued income490/1€162k€491k▲
Equity and liabilities
Total equity and liabilities10/49€261.28M€296.76M▲
Equity10/15€227.35M€263.26M▲
Contributions10/11€191.49M€191.49M=
Capital10€191.49M€191.49M=
Issued capital100€191.49M€191.49M=
Reserves13€4.16M€7.45M▲
Non-distributable reserves130/1€3.80M€7.10M▲
Legal reserve130€3.80M€7.10M▲
Distributable reserves133€356k€356k=
Profit (loss) carried forward14€31.70M€64.32M▲
Provisions and deferred taxes16€765k€774k▲
Provisions for liabilities and charges160/5€765k€774k▲
Pensions and similar obligations160€15k€24k▲
Other liabilities and charges164/5€750k€750k=
Amounts payable17/49€33.17M€32.72M▼
Amounts payable after more than one year17€567k€425k▼
Financial debts170/4€567k€425k▼
Credit institutions173€567k€425k▼
Amounts payable within one year42/48€32.26M€31.85M▼
Current portion of amounts payable after more than one year42€142k€142k=
Trade debts44€796k€452k▼
Suppliers440/4€796k€452k▼
Taxes, remuneration and social security45€1.18M€1.25M▲
Taxes450/3€14k€95k▲
Remuneration and social security454/9€1.16M€1.16M▼
Other amounts payable47/48€30.14M€30.00M▼
Accrued charges and deferred income492/3€342k€445k▲
Income statement
Code20232024
Operating income70/76A€7.46M€9.58M▲
Turnover70€2.39M€2.64M▲
Other operating income74€5.07M€6.94M▲
Operating charges60/66A€12.95M€16.08M▲
Goods for resale, raw materials and consumables60€2.15M€4.24M▲
Purchases600/8€4.42M€1.96M▼
Change in stocks: decrease (increase)609€-2.28M€2.28M▲
Services and other goods61€4.44M€4.83M▲
Remuneration, social security and pensions62€6.63M€6.68M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€208k€265k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€-558k€9k▲
Other operating charges640/8€60k€46k▼
Non-recurring operating charges66A€18k€2k▼
Operating profit (loss)9901€-5.48M€-6.50M▼
Financial income75/76B€53.63M€73.09M▲
Recurring financial income75€53.63M€73.07M▲
Income from financial fixed assets750€52.43M€69.63M▲
Income from current assets751€953k€3.09M▲
Other financial income752/9€251k€349k▲
Non-recurring financial income76B-€13k
Financial charges65/66B€426k€665k▲
Recurring financial charges65€338k€286k▼
Debt charges650€317k€102k▼
Other financial charges652/9€21k€184k▲
Non-recurring financial charges66B€88k€379k▲
Profit (loss) for the period before taxes9903€47.72M€65.93M▲
Income taxes67/77€14k€9k▼
Taxes670/3€14k€9k▼
Profit (loss) for the period9904€47.71M€65.92M▲
Profit (loss) for the period to be appropriated9905€47.71M€65.92M▲
Appropriation of the result
Profit (loss) to be appropriated9906€64.22M€97.61M▲
Profit (loss) brought forward from the previous period14P€16.52M€31.70M▲
Transfer to equity691/2€2.39M€3.30M▲
To the legal reserve6920€2.39M€3.30M▲
Profit to be distributed694/7€30.14M€30.00M▼
Return on contributions (dividend)694€30.00M€30.00M=
Employees696€143k-
Social balance
Average headcount (FTE)908742.845.2▲
The notes to these accounts (98 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
23-07
State Gazette act
Resignation: Bertrand Demonceau (director)Appointment: Adrien Grabarski (director) · Power of attorney4 facts ▸
State Gazette act
Resignation: Bertrand Demonceau (director)
Appointment: Adrien Grabarski (director) · Power of attorney4 facts ▸
- Board meeting, 25/06/2026
- Director resignation, Bertrand Demonceau (director)
- Director appointment, Adrien Grabarski (director)
- Power of attorney, Ellen Deprez
2025
10-11
State Gazette act
Resignation: Luc Gillard (director)Appointments: Julie Fernandez-Fernandez (director) and Martin Jadin (director) · Mandate compensation · Power of attorney6 facts ▸
State Gazette act
Resignation: Luc Gillard (director)
Appointments: Julie Fernandez-Fernandez (director) and Martin Jadin (director) · Mandate compensation · Power of attorney6 facts ▸
- General meeting, 24/10/2025
- Director resignation, Luc Gillard (director)
- Director appointment, Julie Fernandez-Fernandez (director)
- Director appointment, Martin Jadin (director)
- Mandate compensation, Martin Jadin
- Power of attorney, Bram Joye
24-10
State Gazette act
Resignation: Luc Gillard (director)Appointment: Julie Fernandez-Fernandez (director) · Power of attorney8 facts ▸
State Gazette act
Resignation: Luc Gillard (director)
Appointment: Julie Fernandez-Fernandez (director) · Power of attorney8 facts ▸
- Board meeting, 17/09/2025
- Director resignation, Luc Gillard (director)
- Director appointment, Julie Fernandez-Fernandez (director)
- Power of attorney, Ellen Deprez
- Power of attorney, Vanessa Vanleene
- Power of attorney, Bram Joye
- Power of attorney, Shanna Legein
- Power of attorney, Charlotte Costers
19-06
State Gazette act
Reappointments: Laurent Levaux, Jean-Pierre Hansen and 5 othersMandate compensation9 facts ▸
State Gazette act
Reappointments: Laurent Levaux, Jean-Pierre Hansen and 5 others
Mandate compensation9 facts ▸
- General meeting, 15/05/2025
- Director reappointment, Laurent Levaux (director)
- Director reappointment, Jean-Pierre Hansen (director)
- Director reappointment, Grégory Demal (director)
- Director reappointment, Jean-Marie Bréban (director)
- Director reappointment, Bertrand Demonceau (director)
- Director reappointment, Luc Gillard (director)
- Director reappointment, Muriel Gerkens (director)
- Mandate compensation, Elicio
15-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
13-05
State Gazette act
Resignations & appointmentsPower of attorney13 facts ▸
State Gazette act
Resignations & appointments
Power of attorney13 facts ▸
- Board meeting, 23/04/2025
- Power of attorney, Emmanuel van Vyve (betalingsvolmacht groep a)
- Power of attorney, Peter Goderis (betalingsvolmacht groep b)
- Power of attorney, Andries Teerlynck (betalingsvolmacht groep a)
- Power of attorney, Frederic Vandewaeter (betalingsvolmacht groep b)
- Power of attorney, Vanessa Vanleene (betalingsvolmacht groep a)
- Power of attorney, Jurgen Ackaert (betalingsvolmacht groep b)
- Power of attorney, Ellen Deprez (betalingsvolmacht groep a)
- Power of attorney, Ellen Deprez (bijzondere volmacht)
- Power of attorney, Vanessa Vanleene (bijzondere volmacht)
- Power of attorney, Bram Joye (bijzondere volmacht)
- Power of attorney, Shanna Legein (bijzondere volmacht)
- +1 further facts in this act
03-04
State Gazette act
Resignation: Alain Janssens (persoon belast met dagelijks bestuur en ceo)Appointments: Peter Goderis, Emmanuel van Vyve and 4 others · Power of attorney13 facts ▸
State Gazette act
Resignation: Alain Janssens (persoon belast met dagelijks bestuur en ceo)
Appointments: Peter Goderis, Emmanuel van Vyve and 4 others · Power of attorney13 facts ▸
- Board meeting, 19/03/2025
- Director resignation, Alain Janssens (persoon belast met dagelijks bestuur en ceo)
- Power of attorney, Alain Janssens
- Director appointment, Peter Goderis (ceo)
- Director appointment, Emmanuel van Vyve (a gedelegeerde)
- Director appointment, Ellen Deprez (b gedelegeerde)
- Director appointment, Andries Teerlynck (a gedelegeerde)
- Director appointment, Vanessa Vanleene (b gedelegeerde)
- Director appointment, Jurgen Ackaert (groep a betalingsvolmacht)
- Power of attorney, Ellen Deprez
- Power of attorney, Vanessa Vanleene
- Power of attorney, Bram Joye
- +1 further facts in this act
2024
31-12
Financial
Highest result since 2018net €65.92M ▲38.2%
Net result €65.92M, the highest in the series.
31-12
Financial
Equity above €250MEq €263.26M ▲15.8%
3 profitable years in a row build equity to €263.26M.
02-10
State Gazette act
Resignation: Frederic Teerlynck (day-to-day manager)Appointment: Vanessa Vanleene (day-to-day manager) · Power of attorney10 facts ▸
State Gazette act
Resignation: Frederic Teerlynck (day-to-day manager)
Appointment: Vanessa Vanleene (day-to-day manager) · Power of attorney10 facts ▸
- Board meeting, 19/09/2024
- Director resignation, Frederic Teerlynck (day-to-day manager)
- Power of attorney, Frederic Teerlynck
- Director appointment, Vanessa Vanleene (day-to-day manager)
- Power of attorney, Vanessa Vanleene
- Power of attorney, Vanessa Vanleene
- Power of attorney, Alain Janssens
- Power of attorney, Ellen Deprez
- Power of attorney, Bram Joye
- Power of attorney, Charlotte Costers
01-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
27-07
State Gazette act
Resignation: Bernard Thiry (director)Appointment: Jean-Marie Breban (director) · Director discharge · Mandate compensation8 facts ▸
State Gazette act
Resignation: Bernard Thiry (director)
Appointment: Jean-Marie Breban (director) · Director discharge · Mandate compensation8 facts ▸
- General meeting, 19/06/2023
- Director resignation, Bernard Thiry (director)
- Director discharge, Bernard Thiry (director)
- Director appointment, Jean-Marie Breban (director)
- Mandate compensation, Jean-Marie Breban
- Power of attorney, Bram Joye
- Power of attorney, Charlotte Costers
- Power of attorney, Ellen Deprez
Show earlier events
10-07
State Gazette act
Appointment: EY Bedrijfsrevisoren (statutory auditor)Permanent representative: Brecht Deketele3 facts ▸
State Gazette act
Appointment: EY Bedrijfsrevisoren (statutory auditor)
Permanent representative: Brecht Deketele3 facts ▸
- General meeting, 18/05/2023
- Auditor appointment, EY Bedrijfsrevisoren (statutory auditor)
- Permanent representative, Brecht Deketele
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
15-03
State Gazette act
Capital & sharesCapital increase · Capital · Statutes amendment6 facts ▸
State Gazette act
Capital & shares
Capital increase · Capital · Statutes amendment6 facts ▸
- General meeting, 27/02/2023
- Capital increase, €43.000.000
- Capital, €191.494.474
- Statutes amendment
- Capital paid, 100%
- Contribution in kind, zekere, vaststaande en opeisbare schuldvordering
2022
31-12
Financial
Back to profitnet €32.93M
Net result €32.93M after 2 loss-making years.
31-12
Financial
Equity above €100MEq €166.78M ▲299%
Equity rises from €41.76M to €166.78M.
09-12
State Gazette act
Resignation: Renaud Witmeur (director)Appointments: Grégory Demal, Luc Gillard and 2 others · Power of attorney7 facts ▸
State Gazette act
Resignation: Renaud Witmeur (director)
Appointments: Grégory Demal, Luc Gillard and 2 others · Power of attorney7 facts ▸
- General meeting, 09/11/2022
- Director resignation, Renaud Witmeur (director)
- Director appointment, Grégory Demal (director)
- Director appointment, Luc Gillard (director)
- Director appointment, Muriel Gerkens (director)
- Director appointment, Bertrand Demonceau (director)
- Power of attorney, Astrid Van de Maele
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
02-03
State Gazette act
Capital & shares · Statutes amendmentCapital increase · Capital · Statutes amendment4 facts ▸
State Gazette act
Capital & shares · Statutes amendment
Capital increase · Capital · Statutes amendment4 facts ▸
- General meeting, 25/02/2022
- Capital increase, €100.000.000
- Capital, €148.494.474
- Statutes amendment
2021
31-12
Financial
Weakest financial yearnet €-7.33M
Net result drops to €-7.33M, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 5current ratio 12.51
Current ratio from 2.57 to 12.51; short-term debt falls from €44.78M to €3.74M.
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
07-06
State Gazette act
MiscellaneousBoard meeting1 fact ▸
State Gazette act
Miscellaneous
Board meeting1 fact ▸
- Board meeting, 21/05/2021
02-04
State Gazette act
Resignation: Nicolas Bruynooghe (afgevaardigde tot het dagelijks bestuur)Appointment: Emmanuel van Vyve (afgevaardigde tot het dagelijks bestuur) · Power of attorney11 facts ▸
State Gazette act
Resignation: Nicolas Bruynooghe (afgevaardigde tot het dagelijks bestuur)
Appointment: Emmanuel van Vyve (afgevaardigde tot het dagelijks bestuur) · Power of attorney11 facts ▸
- Board meeting, 25/02/2021
- Director resignation, Nicolas Bruynooghe (afgevaardigde tot het dagelijks bestuur)
- Power of attorney, Nicolas Bruynooghe
- Director appointment, Emmanuel van Vyve (afgevaardigde tot het dagelijks bestuur)
- Power of attorney, Emmanuel van Vyve
- Power of attorney, Emmanuel van Vyve
- Power of attorney, Alain Janssens
- Power of attorney, Ellen Deprez
- Power of attorney, Frederic Teerlynck
- Power of attorney, Astrid Van de Maele
- Power of attorney, Charlotte Costers
2020
07-12
State Gazette act
Permanent representatives: Marleen Mannekens and Francis Boelens3 facts ▸
State Gazette act
Permanent representatives: Marleen Mannekens and Francis Boelens
3 facts ▸
- Board meeting, 24/09/2020
- Permanent representative, Marleen Mannekens
- Permanent representative, Francis Boelens
14-08
State Gazette act
Resignation: Elicio (afgevaardigden tot het dagelijks bestuur)Appointments: Nicolas Bruynooghe, Elke Deprez and 4 others · Power of attorney20 facts ▸
State Gazette act
Resignation: Elicio (afgevaardigden tot het dagelijks bestuur)
Appointments: Nicolas Bruynooghe, Elke Deprez and 4 others · Power of attorney20 facts ▸
- Board meeting, 07/07/2020
- Director resignation, Elicio (afgevaardigden tot het dagelijks bestuur)
- Director appointment, Nicolas Bruynooghe (a gedelegeerde dagelijks bestuur)
- Director appointment, Elke Deprez (b gedelegeerde dagelijks bestuur)
- Director appointment, Peter Goderis (a gedelegeerde dagelijks bestuur)
- Director appointment, Alain Janssens (b gedelegeerde dagelijks bestuur (ceo))
- Director appointment, Andries Teerlynck (a gedelegeerde dagelijks bestuur)
- Director appointment, Frederic Teerlynck (b gedelegeerde dagelijks bestuur)
- Power of attorney, Nicolas Bruynooghe
- Power of attorney, Elke Deprez
- Power of attorney, Alain Janssens
- Power of attorney, Frederic Teerlynck
- +8 further facts in this act
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
29-04
State Gazette act
Appointments: Elke Deprez (afgevaardigde tot het dagelijks bestuur) and Frederic Teerlynck (afgevaardigde tot het dagelijks bestuur)Power of attorney · Mandate compensation9 facts ▸
State Gazette act
Appointments: Elke Deprez (afgevaardigde tot het dagelijks bestuur) and Frederic Teerlynck (afgevaardigde tot het dagelijks bestuur)
Power of attorney · Mandate compensation9 facts ▸
- Board meeting, 18/03/2020
- Power of attorney, Elicio
- Director appointment, Elke Deprez (afgevaardigde tot het dagelijks bestuur)
- Director appointment, Frederic Teerlynck (afgevaardigde tot het dagelijks bestuur)
- Mandate compensation, Elke Deprez
- Mandate compensation, Frederic Teerlynck
- Power of attorney, Elke Deprez
- Power of attorney, Frederic Teerlynck
- Power of attorney, Cindy Faes
20-02
State Gazette act
Resignations & appointmentsPower of attorney10 facts ▸
State Gazette act
Resignations & appointments
Power of attorney10 facts ▸
- Board meeting, 23/12/2019
- Power of attorney, Elke Deprez
- Power of attorney, Cindy Faes
- Power of attorney, Nicolas Bruynooghe
- Power of attorney, Peter Goderis
- Power of attorney, Andries Teerlynck
- Power of attorney, Elke Deprez
- Power of attorney, Emile Dumont
- Power of attorney, Frederic Teerlynck
- Power of attorney, Jurgen Ackaert
15-01
State Gazette act
Resignations: Stéphane Moreau, Bénédicte Bayer and 2 othersAppointments: Renaud Witmeur, Bernard Thiry and 2 others · Mandate compensation · Power of attorney10 facts ▸
State Gazette act
Resignations: Stéphane Moreau, Bénédicte Bayer and 2 others
Appointments: Renaud Witmeur, Bernard Thiry and 2 others · Mandate compensation · Power of attorney10 facts ▸
- Director resignation, Stéphane Moreau (director)
- Director resignation, Bénédicte Bayer (director)
- Director resignation, Pol Heyse (director)
- Director resignation, Emile Dumont (director)
- Director appointment, Renaud Witmeur (categorie a bestuurder)
- Director appointment, Bernard Thiry (categorie a bestuurder)
- Director appointment, Laurent Levaux (categorie b bestuurder)
- Director appointment, Jean-Pierre Hansen (categorie b bestuurder)
- Mandate compensation, Elicio
- Power of attorney, Cindy Faes
15-01
State Gazette act
Capital & sharesCapital increase · Capital · Statutes amendment4 facts ▸
State Gazette act
Capital & shares
Capital increase · Capital · Statutes amendment4 facts ▸
- General meeting, 23/12/2019
- Capital increase, €22.000.000
- Capital, €48.494.474
- Statutes amendment
2019
31-12
Financial
Liquidity triplescurrent ratio 9.80
Current ratio from 3.64 to 9.80; short-term debt falls from €8.72M to €3.82M.
31-12
Financial
Equity above €50MEq €50.93M ▲5836%
2 profitable years in a row build equity to €50.93M.
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
28-06
State Gazette act
Capital & sharesCapital increase · Capital3 facts ▸
State Gazette act
Capital & shares
Capital increase · Capital3 facts ▸
- General meeting, 14/06/2019
- Capital increase, €26.000.355
- Capital, €26.494.474
12-03
State Gazette act
Resignations: Heres Communications SPRL (director) and GII SIMON (director)Appointment: Pol Heyse (categorie b bestuurder) · Reappointments: Emile Dumont, Bénédicte Bayer and Stéphane Moreau · Mandate compensation11 facts ▸
State Gazette act
Resignations: Heres Communications SPRL (director) and GII SIMON (director)
Appointment: Pol Heyse (categorie b bestuurder) · Reappointments: Emile Dumont, Bénédicte Bayer and Stéphane Moreau · Mandate compensation11 facts ▸
- General meeting, 08/02/2019
- Director resignation, Heres Communications SPRL (director)
- Director resignation, GII SIMON (director)
- Director appointment, Pol Heyse (categorie b bestuurder)
- Director reappointment, Emile Dumont (categorie a bestuurder)
- Director reappointment, Bénédicte Bayer (categorie a bestuurder)
- Director reappointment, Stéphane Moreau (categorie b bestuurder)
- Mandate compensation, ELICIO
- Power of attorney, Elke Deprez
- Power of attorney, Cindy Faes
- Power of attorney, Frederic Teerlynck
2018
30-10
State Gazette act
Appointments: Emile Dumont, Bénédicte Bayer and 2 othersResignation: Gil Simon (categorie a bestuurder) · Mandate compensation · Power of attorney20 facts ▸
State Gazette act
Appointments: Emile Dumont, Bénédicte Bayer and 2 others
Resignation: Gil Simon (categorie a bestuurder) · Mandate compensation · Power of attorney20 facts ▸
- General meeting, 02/07/2018
- Director appointment, Emile Dumont (categorie a bestuurder)
- Director appointment, Bénédicte Bayer (categorie a bestuurder)
- Director appointment, Stéphane Moreau (categorie b bestuurder)
- Director appointment, Pol Heyse (categorie b bestuurder)
- Director resignation, Gil Simon (categorie a bestuurder)
- Mandate compensation, Elicio
- Board meeting, 27/08/2018
- Power of attorney, Elke Deprez
- Power of attorney, Nicolas Bruynooghe
- Power of attorney, Peter Goderis
- Power of attorney, Andries Teerlynck
- +8 further facts in this act
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
08-12
State Gazette act
Reappointments: Heres Communications SPRL, Stéphane MOREAU and 3 othersPermanent representative: Pol HEYSE · Appointment: Pol HEYSE (ad hoc voorzitter van de raad van bestuur) · Statutes amendment10 facts ▸
State Gazette act
Reappointments: Heres Communications SPRL, Stéphane MOREAU and 3 others
Permanent representative: Pol HEYSE · Appointment: Pol HEYSE (ad hoc voorzitter van de raad van bestuur) · Statutes amendment10 facts ▸
- General meeting, 10/11/2017
- Statutes amendment
- Director reappointment, Heres Communications SPRL (bestuurder, categorie b)
- Director reappointment, Stéphane MOREAU (bestuurder, catégorie b)
- Director reappointment, Bénédicte BAYER (bestuurder, categorie a)
- Director reappointment, GII SIMON (bestuurder, categorie a)
- Director reappointment, Emile DUMONT (bestuurder, categorie a)
- Permanent representative, Pol HEYSE
- Director appointment, Pol HEYSE (ad hoc voorzitter van de raad van bestuur)
- Power of attorney, raad van bestuur
07-12
State Gazette act
Appointments: Bénédicte Bayer (categorie a bestuurder) and Stéphane Moreau (categorie b bestuurder)Permanent representative: Poi Heyse · Mandate compensation · Power of attorney7 facts ▸
State Gazette act
Appointments: Bénédicte Bayer (categorie a bestuurder) and Stéphane Moreau (categorie b bestuurder)
Permanent representative: Poi Heyse · Mandate compensation · Power of attorney7 facts ▸
- General meeting, 13/10/2017
- Director appointment, Bénédicte Bayer (categorie a bestuurder)
- Director appointment, Stéphane Moreau (categorie b bestuurder)
- Mandate compensation, ELICIO
- Permanent representative, Poi Heyse
- Power of attorney, Elke Deprez
- Power of attorney, Cindy Faes
22-09
State Gazette act
Reappointments: Gil Simon, Emile Dumont and Heres CommunicationsPermanent representative: Pol Heyse · Appointment: PWC Bedrijfsrevisoren (statutory auditor) · Mandate compensation15 facts ▸
State Gazette act
Reappointments: Gil Simon, Emile Dumont and Heres Communications
Permanent representative: Pol Heyse · Appointment: PWC Bedrijfsrevisoren (statutory auditor) · Mandate compensation15 facts ▸
- General meeting, 06/06/2017
- Director reappointment, Gil Simon (categorie a bestuurder)
- Director reappointment, Emile Dumont (categorie a bestuurder)
- Director reappointment, Heres Communications (categorie b bestuurder)
- Permanent representative, Pol Heyse
- Mandate compensation, Gil Simon
- Mandate compensation, Emile Dumont
- Mandate compensation, Heres Communications
- Power of attorney, Elke Deprez
- Power of attorney, Cindy Faes
- General meeting, 30/06/2017
- Auditor appointment, PWC Bedrijfsrevisoren (statutory auditor)
- +3 further facts in this act
24-07
State Gazette act
Capital & shares · MiscellaneousShareholder decision1 fact ▸
State Gazette act
Capital & shares · Miscellaneous
Shareholder decision1 fact ▸
- Shareholder decision, 26/06/2017
19-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
05-01
State Gazette act
Permanent representatives: Peter Opsomer and Filip DrieghePower of attorney6 facts ▸
State Gazette act
Permanent representatives: Peter Opsomer and Filip Drieghe
Power of attorney6 facts ▸
- General meeting, 27/05/2016
- Permanent representative, Peter Opsomer
- Permanent representative, Filip Drieghe
- Power of attorney, Elke Deprez
- Power of attorney, Cindy Faes
- Power of attorney, Bert Heyman
03-01
State Gazette act
MiscellaneousGeneral meeting1 fact ▸
State Gazette act
Miscellaneous
General meeting1 fact ▸
- General meeting, 29/11/2016
2016
21-12
State Gazette act
Capital & sharesCapital increase · Capital · Capital decrease7 facts ▸
State Gazette act
Capital & shares
Capital increase · Capital · Capital decrease7 facts ▸
- General meeting, 30/11/2016
- Capital increase, €14.999.850
- Capital, €15.061.350
- Capital decrease, €14.567.231
- Capital, €494.119
- Power of attorney, twee bestuurders samen handelend
- Power of attorney, de raad van bestuur
27-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
22-04
State Gazette act
Resignations: Gil Simon, Emile Dumont and Heres CommunicationsAppointments: Gil Simon, Emile Dumont and Heres Communications · Permanent representative: Pol Heyse · Mandate compensation11 facts ▸
State Gazette act
Resignations: Gil Simon, Emile Dumont and Heres Communications
Appointments: Gil Simon, Emile Dumont and Heres Communications · Permanent representative: Pol Heyse · Mandate compensation11 facts ▸
- General meeting, 29/04/2015
- Director resignation, Gil Simon (director)
- Director resignation, Emile Dumont (director)
- Director resignation, Heres Communications (director)
- Director appointment, Gil Simon (categorie a bestuurder)
- Director appointment, Emile Dumont (categorie a bestuurder)
- Director appointment, Heres Communications (categorie b bestuurder)
- Permanent representative, Pol Heyse
- Mandate compensation, Gil Simon
- Mandate compensation, Emile Dumont
- Mandate compensation, Heres Communications
2015
31-03
State Gazette act
Permanent representative: Pol HeysePower of attorney8 facts ▸
State Gazette act
Permanent representative: Pol Heyse
Power of attorney8 facts ▸
- Board meeting, 23/10/2014
- Power of attorney, Arcadia Strategoi Comm.V.
- Power of attorney, EBFM BVBA
- Power of attorney, Calix Consulting BVBA
- Power of attorney, Defilien BVBA
- Power of attorney, Peso Verde BVBA
- Power of attorney, Yante BVBA
- Permanent representative, Pol Heyse
2014
11-08
State Gazette act
Capital & sharesBranch transfer · Accounting effect · Branch transfer scope3 facts ▸
State Gazette act
Capital & shares
Branch transfer · Accounting effect · Branch transfer scope3 facts ▸
- Branch transfer, overdracht onder bezwarende titel van een bedrijfstak
- Accounting effect, 01/04/2014
- Branch transfer scope, all Belgian wind energy projects in development (onshore/offshore), including necessary assets and directly related liabilities, with explicit exclusion of asse…
26-06
State Gazette act
Resignations & appointmentsPower of attorney6 facts ▸
State Gazette act
Resignations & appointments
Power of attorney6 facts ▸
- Board meeting, 06/06/2014
- Power of attorney, Michel Bonne
- Power of attorney, Tom Swinnen
- Power of attorney, Michael Dirkx
- Power of attorney, Mattias Verbeeck
- Power of attorney, Marie Georgy
11-06
State Gazette act
Capital & sharesBranch transfer2 facts ▸
State Gazette act
Capital & shares
Branch transfer2 facts ▸
- Board meeting, 23/05/2014
- Branch transfer, Electrawinds
28-05
State Gazette act
IncorporationAppointments: Gil Simon, Emile Dumont and 2 others · Permanent representative: Pol Heyse · Founder9 facts ▸
State Gazette act
Incorporation
Appointments: Gil Simon, Emile Dumont and 2 others · Permanent representative: Pol Heyse · Founder9 facts ▸
- Incorporation, 16/05/2014
- Founder, NETHYS
- Founder, WALLONIE BRUXELLES CONTACT CENTER
- Founding capital, €61.500
- Director appointment, Gil Simon (categorie a bestuurder)
- Director appointment, Emile Dumont (categorie a bestuurder)
- Director appointment, HERES COMMUNICATIONS (categorie b bestuurder)
- Permanent representative, Pol Heyse
- Auditor appointment, PricewaterhouseCoopers Bedrijfsrevisoren
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
17 directors, no change since 2026
Adrien GRABARSKI
CurrentDirector · since 25-06-2026
Martin Jadin
CurrentDirector · since 23-10-2025
Julie Fernandez-Fernandez
CurrentDirector · since 17-09-2025
Ellen Deprez
CurrentB gedelegeerde · since 01-04-2025
Jurgen Ackaert
CurrentGroep a betalingsvolmacht · since 01-04-2025
Vanessa Vanleene
CurrentB gedelegeerde · since 12-10-2024
11 other directors
Jean-Marie BRÉBAN
CurrentDirector · since 27-05-2023
DEMAL, Grégory
CurrentDirector · since 09-11-2022
Muriel Gerkens
CurrentDirector · since 09-11-2022
Emmanuel van Vyve
CurrentA gedelegeerde · since 25-02-2021
Andries Teerlynck
CurrentA gedelegeerde · since 07-07-2020
Peter Goderis
CurrentCeo · since 07-07-2020
Jean-Pierre HANSEN
CurrentDirector · since 15-01-2020
Laurent Levaux
CurrentDirector · since 15-01-2020
Elke Deprez
Not recently confirmedB gedelegeerde dagelijks bestuur · since 18-03-2020
NETHYS
Not recently confirmedBestuurder, categorie b · Public limited company · perm. rep.: Pol HEYSE
HERES COMMUNICATIONS
Not recently confirmedCategorie b bestuurder · since 06-06-2017 · Private limited company · perm. rep.: Pol Heyse
25-06-2026
Adrien GRABARSKI: Appointed as Director
01-04-2026
Bertrand DEMONCEAU: Resigned as Director
23-10-2025
Martin Jadin: Appointed as Director
17-09-2025
Julie Fernandez-Fernandez: Appointed as Director
12-08-2025
Luc Gillard: Resigned as Director
Location & real-estate footprint
Registered office, Oostende · 2 establishment units since 2014
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
John Cordierlaan 98400 OostendeGround area
1.3 ha
Building footprint
1,562 m²
Volume, LiDAR
16,968 m³
2 parcels, Flanders, Wallonia · tallest building 29.8 m, ±6 floors. Linked by address, not a title deed.
2 establishment units
ELICIO
since 20142.231.912.491
ELICIO
since 20242.360.795.797
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35026B0187/00A000 | Flanders | 1.2 ha | 1 · 1,305 m² | 11.8 m · 3 fl. |
| 62803A1378/00F002 ProtectedMonument |
Wallonia | 699 m² | 1 · 257 m² | 29.8 m · 6 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Statutory auditor
1 auditor| Ernst et Young Reviseurs d'EntreprisesCurrent Statutory auditor | 10-07-2023 → present |
Show 2 earlier auditors
| PricewaterhouseCoopers Reviseurs d'Entreprises Statutory auditor succeeded by Ernst et Young Reviseurs d'Entreprises in 2023 | 22-09-2017 → 10-07-2023 |
| PricewaterhouseCoopers, Bedrijfsrevisoren Auditor succeeded by PricewaterhouseCoopers Reviseurs d'Entreprises in 2017 | 28-05-2014 → 22-09-2017 |
Articles of association
Purpose
De vennootschap heeft als voorwerp, zowel in België als in het buitenland, voor eigen rekening of voor rekening van derden, of door deelname van dezen: (A) Voor eigen rekening: (a)…
Full purpose
De vennootschap heeft als voorwerp, zowel in België als in het buitenland, voor eigen rekening of voor rekening van derden, of door deelname van dezen: (A) Voor eigen rekening: (a) Het aanleggen, het oordeelkundig uitbouwen en beheren van een onroerend vermogen... (b) Het aanleggen, het oordeelkundig uitbouwen en beheren van een roerend patrimonium... (B) De productie, verkoop en verdeling van elektriciteit op basis van windenergie en andere alternatieve of hernieuwbare energiebronnen... (C) Voor eigen rekening, voor rekening van derden, of in deelneming met derden: (a) het verwerven van participaties... (b) het toestaan van leningen... (c) het verlenen van adviezen... (d) het waarnemen van alle bestuursopdrachten... (e) het ontwikkelen, kopen, verkopen... van octrooien... (f) het verlenen van administratieve prestaties... (g) de aan- en verkoop... (h) het onderzoek, de ontwikkeling... (D) Bijzondere bepalingen...
Structure & network
Connections & network
78 connected companiesLinked via shared directors
via Jean-Marie BRÉBAN · Director
→
via Jean-Marie BRÉBAN · Director
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via Jean-Marie BRÉBAN · Bestuurder c
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via DEMAL, Grégory · Independent director
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Show 74 more companies with a shared director
via DEMAL, Grégory · Director
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via Jean-Pierre HANSEN · Director
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via DEMAL, Grégory · Director
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via Muriel Gerkens · Director
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via DEMAL, Grégory and Jean-Marie BRÉBAN · Director
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via DEMAL, Grégory, Adrien GRABARSKI and 2 others
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via DEMAL, Grégory · Director
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via Muriel Gerkens · Director
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via Jean-Marie BRÉBAN · Director
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via DEMAL, Grégory and Muriel Gerkens · Director
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via Jean-Pierre HANSEN and Jean-Marie BRÉBAN · Director
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via Adrien GRABARSKI · Director
→
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via Jean-Marie BRÉBAN · Director
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via Jean-Marie BRÉBAN · Director
former→
via Adrien GRABARSKI · Director
former→
via Jean-Marie BRÉBAN · Director
former→
via Jean-Marie BRÉBAN · Director
former→
former→
via Jean-Pierre HANSEN · Director
former→
via Adrien GRABARSKI · Director
former→
via Jean-Pierre HANSEN · Director
former→
via Jean-Marie BRÉBAN · Director
former→
via Muriel Gerkens · Director
former→
via Jean-Pierre HANSEN · Director
former→
via Muriel Gerkens · Administrateur représentant les communes associées
former→
via Jean-Pierre HANSEN · Director
former→
via Muriel Gerkens · Director
former→
via Jean-Pierre HANSEN · Director
former→
via Adrien GRABARSKI · Permanent representative
former→
via Jean-Pierre HANSEN · Director
former→
via Jean-Pierre HANSEN · Director
former→
via Jean-Pierre HANSEN · Director
former→
via DEMAL, Grégory · Membre ordinaire du conseil d'administration
former→
via DEMAL, Grégory · Administrateur délégué et administrateur
former→
via Jean-Pierre HANSEN · Director
former→
via Jean-Pierre HANSEN and Muriel Gerkens · Director
former→
via Jean-Pierre HANSEN and Muriel Gerkens · Director
former→
via Jean-Marie BRÉBAN · Director
former→
via Jean-Marie BRÉBAN · Director
former→
via Adrien GRABARSKI · Director
former→
via Jean-Pierre HANSEN and Muriel Gerkens · Director
former→
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Ownership & control
5 board mandatesBoard mandates of this companythis company sits on their board5
1 location
1 location
1 location
1 location
1 location
Acquisitions and mergers
1 transactionReceived in a demerger part of:Electrawinds
Capital and shareholders
Shareholders according to the acts
At incorporation
act of 28-05-2014 ↗
- NETHYS (BE 0465.607.720) 99 shares (99%)
- WALLONIE BRUXELLES CONTACT CENTER (BE 0807.319.518) 1 share (1%)
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Capital over the years
- 15-03-2023 Capital increase of 43,000,000 EUR · to 191,494,474 EUR · in kind
- 02-03-2022 Capital increase of 100,000,000 EUR · to 148,494,474 EUR · in kind
- 15-01-2020 Capital increase of 22,000,000 EUR · to 48,494,474 EUR · in kind
- 28-06-2019 Capital increase of 26,000,355 EUR · to 26,494,474 EUR · in kind
- 21-12-2016 Capital increase of 14,999,850 EUR · to 15,061,350 EUR · 24,390 new shares · in kind
- 21-12-2016 Capital reduction of 14,567,231 EUR · to 494,119 EUR · “aanzuivering van overgedragen verliezen”
- 28-05-2014 Incorporation · 61,500 EUR · 100 shares
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 341 EUR awarded · 341 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 341 EUR | 341 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
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Of 815 companies in sector 35110 we hold annual accounts for 631. 39 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded16-05-2014
Fiscal year end31-12
Activities, NACEBEL 2025
35110Production of electricity from non-renewable sources
71121Engineering and related technical consultancy, excluding land surveyors
35130Electricity, gas, steam and air conditioning supply
35150Electricity, gas, steam and air conditioning supply
Sources
Crossroads Bank for EnterprisesNational Bank · 11 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.