Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 49 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Enabel, Belgisch Ontwikkelingsagentschap from Brussel, company number BE0264814354, closed financial year 2025 with a result of € -67,551 after tax. For that financial year Enabel, Belgisch Ontwikkelingsagentschap recorded revenue of € 407.1 million and equity of € 20.1 million. Compared with financial year 2024, the result moved from € -302,022 to € -67,551. The company made a loss. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on May 4, 2026.
€ 20.1 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -67,551
▲ 78 % less loss than in 2024
Profit after tax over the fiscal year.
€ 7.5 million
▼ 44% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 12.6 million.
People and assets in 2025
578.5
▲ 8.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 91 million
▲ 14% vs 2024
€ 157,300 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 776,546
▼ 5% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 38.7 million
▲ 45% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 41 days on average.
€ 9.9 million
▲ 23% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 315,255,097 | € 310,873,740 | € 329,159,608 | € 407,097,008 | ▲ 24% |
| Profit after taxes | € 169,243 | € -57,059 | € -302,022 | € -67,551 | ▲ € 234,471 |
| Equity | € 20,493,410 | € 20,436,350 | € 20,134,329 | € 20,066,778 | |
| Total debts | € 242,876,656 | € 253,316,855 | € 198,136,824 | € 193,420,074 | ▼ 2% |
| Cash | € 129,525,352 | € 10,177,744 | € 13,425,901 | € 7,517,942 | ▼ 44% |
| Land & buildings | € 186,640 | € 168,253 | € 143,065 | € 145,330 | ▲ 2% |
| Retained profit | € 13,056,604 | € 12,999,545 | € 12,697,523 | € 12,629,972 | ▼ 1% |
| Balance sheet total | € 266,859,044 | € 275,840,595 | € 221,899,107 | € 217,367,384 | ▼ 2% |
| Employees (FTE) | 485.5 | 562 | 570.1 | 578.5 | ▲ 8.4 |
Key figures of Enabel, Belgisch Ontwikkelingsagentschap, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Enabel, Belgisch Ontwikkelingsagentschap?
What happened at Enabel, Belgisch Ontwikkelingsagentschap in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 67,551. Source: NBB ↗
- Hannelore Delcour became a director. NBB
- Tim Bogaert became a director. NBB
- Olivier Thery stepped down as director. NBB
- Erwin Van de Putte stepped down as director. NBB
- Tom De Bue became a director. NBB
- Patrick Develtere became a director. NBB
- Olivier Thery became a director. NBB
In short
From € 169,243 profit in 2022 to € 67,551 loss in 2025.
Best year ever: 2022, with € 169,243 profit.
Pays suppliers within 41 days on average.
Management
Behind Enabel, Belgisch Ontwikkelingsagentschap are Hannelore Delcour, Guido Gryseels, Patrick Develtere, Tim Bogaert, Delphine Moralis and Karla Basselier.
Directors
According to the 2025 annual accounts
Hannelore Delcour
Government commissioner
since 2025
Guido Gryseels
Director
since 2021
Patrick Develtere
Director
since 2023
Tim Bogaert
Suppléant Commissaire du Gouvernement
since 2025
Delphine Moralis
Chairman of the board
since 2021
Karla Basselier
Director
since 2021
Heidy Rombouts
Director
since 2021
since 2021
Brigitte Boone
Director
Also active at: Gimv, VLAAMSE PARTICIPATIEMAATSCHAPPIJ, WorxInvest, TO BE PROJECTS
since 2021
Bart Staes
Director
since 2021
Farah Dehon
Director
since 2021
Tom De Bue
Inspecteur des Finances
since 2024
since 2021
Caroline Amron
Director
since 2021
Patrick Itschert
Director
since 2021
Olivier Thery
Government commissioner
since 2022 · until 2025
Erwin Van de Putte
Suppléant Commissaire du Gouvernement
since 2022 · until 2025
Establishments
Establishment units
Physical locations of this company
Hoogstraat 147
1000 Brussel
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0264.814.354
- VAT number
- BE 0264.814.354
- Registered office
- Hoogstraat 147, 1000 Brussel
- Names & denominations
- Enabel, Belgisch Ontwikkelingsagentschap · Enabel
- Enterprise type
- Rechtspersoon
- Legal form
- Naamloze vennootschap met een sociaal oogmerk
- Legal situation
- Normale toestand
- Start date
- 7 April 1999
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
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