Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Board fully replaced NBB
No director from three years ago is still active according to annual account 2025.
Financials
Financial year 2025
FLUXYS BELGIUM from Brussel, company number BE0402954628, closed financial year 2025 with a result of € 85.4 million after tax. For that financial year FLUXYS BELGIUM recorded revenue of € 722.2 million and equity of € 399.7 million. Compared with financial year 2024, the result moved from € 84 million to € 85.4 million. Profitable, and profit is growing. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on May 19, 2026.
€ 399.7 million
▼ 4% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 85.4 million
▲ 2% vs 2024
Profit after tax over the fiscal year.
€ 439.1 million
▼ 45% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 98.4 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
918.5
▲ 23.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 146 million
▲ 7% vs 2024
€ 159,000 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.
€ 35 million
▲ 23% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 865.1 million
▼ 2% vs 2024
€ 20 million is repaid this year. At this pace the long-term loan is gone in ≈ 43 years.
€ 74.4 million
▲ 57% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 66 days on average.
€ 49.5 million
▼ 2% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 930,836,628 | € 587,875,199 | € 562,901,063 | € 722,183,671 | ▲ 28% |
| Profit after taxes | € 83,919,871 | € 79,355,901 | € 84,029,002 | € 85,410,609 | ▲ 2% |
| Equity | € 456,783,507 | € 434,959,005 | € 416,168,529 | € 399,687,281 | ▼ 4% |
| Total debts | € 2,075,906,520 | € 2,039,579,604 | € 1,986,102,266 | € 1,861,030,462 | ▼ 6% |
| Cash | € 867,339,090 | € 856,221,422 | € 802,054,716 | € 439,055,421 | ▼ 45% |
| Land & buildings | € 103,209,558 | € 99,537,321 | € 93,804,851 | € 90,686,410 | ▼ 3% |
| Retained profit | € 104,011,797 | € 112,468,350 | € 122,552,057 | € 132,331,394 | ▲ 8% |
| Dividend | € 98,369,040 | € 98,369,040 | € 98,369,040 | € 98,369,040 | |
| Bank debt | € 924,249,664 | € 905,145,407 | € 884,941,425 | € 865,057,069 | ▼ 2% |
| Balance sheet total | € 2,548,050,671 | € 2,490,255,293 | € 2,415,357,970 | € 2,271,945,440 | ▼ 6% |
| Employees (FTE) | 836 | 878.2 | 894.7 | 918.5 | ▲ 23.8 |
Key figures of FLUXYS BELGIUM, 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 FLUXYS BELGIUM?
What happened at FLUXYS BELGIUM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Sandra GOBERT stepped down as director. NBB
- Nathalie GILSON stepped down as director. NBB
- Sabine COLSON stepped down as director. NBB
- Anne LECLERCQ stepped down as director. NBB
- Jean-Claude MARCOURT stepped down as director. NBB
- Roberte KESTEMAN stepped down as director. NBB
- Gianni INFANTI stepped down as director. NBB
- Leen DIERICK stepped down as director. NBB
In short
From € 83.9 million profit in 2022 to € 85.4 million profit in 2025.
Paid € 93.7 million in corporate taxes since 2022.
Best year ever: 2025, with € 85.4 million profit.
Paid out € 393.5 million in dividends to the owners in total.
Management
The stake of in BW Association Intercommunale comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
FLUXYS BELGIUMBehind FLUXYS BELGIUM are Pierre BRASSINE and Francis DE MEYERE. The shares are held by Fluxys SA (90%), . Autre (10%), . Etat Belge and in BW Association Intercommunale. It owns 100% of Fluxys Hydrogen, 100% of FLUX RE, 100% of FLUXYS LNG, 77.5% of Fluxys C-grid, 70% of Fluxys c-grid Antwerp and 50% of BALANSYS itself.
Directors
According to the 2025 annual accounts
Pierre BRASSINE
Government commissioner
Francis DE MEYERE
Government commissioner
Sandra GOBERT
Director
since 2025 · until 2031
Laurent COPPENS
Director
since 2021 · until 2025
since 2022 · until 2025
Pascal DE BUCK
Managing director
Also active at: Federatie van de elektriciteits- en gasnetbeheerders in België, FLUXYS LNG, FluxDune, FLUXYS EUROPE, FLUXYS INTERNATIONAL, FluxysGer, EUROPEAN NETWORK OF TRANSMISSION SYSTEM OPERATORS FOR GAS, FLUXYS +4 more
since 2020 · until 2026
Sabine COLSON
Director
Also active at: A.M.B., INGENIERIE ET CONSTRUCTION MASSET, ETS E. RONVEAUX, BETONELEC, DECUBE, WE Accompagnement et Stratégie, Technord Actionnariat Salarié, SC 3
since 2018 · until 2030
Valentine DELWART
Director
since 2019 · until 2025
since 2021 · until 2027
Ludo KELCHTERMANS
Director
Also active at: L.K.C., CIPAL, LIZEL, VLAAMSE ENERGIEHOLDING, 3E, HOPPE, C - Power, C-POWER HOLDCO +19 more
since 2020 · until 2025
since 2024 · until 2025
Anne LECLERCQ
Director
since 2018 · until 2030
Nathalie GILSON
Director
since 2025 · until 2031
Sandra WAUTERS
Director
since 2019 · until 2025
since 2020 · until 2026
Leen DIERICK
Director
Also active at: Dender, Durme en Schelde, A.S.T.R.I.D., LE FRA, Autonoom Gemeentebedrijf Dendermonde, Ros Beiaardcomité
since 2022 · until 2028
Roberte KESTEMAN
Director
Also active at: Union royale belge des Sociétés de Football-Association - Koninklijke Belgische Voetbalbond, Elia Group, Elia Transmission Belgium
since 2023 · until 2029
since 2025 · until 2026
Daniel TERMONT
Director
Also active at: PUBLIGAS, KURT DEFRANCQ HUIS BAARLE, Kurt Defrancq, im-pact, FLUXYS, DURCIM INTERNATIONAL
since 2021 · until 2027
Jean-Claude MARCOURT
Vice-chairman of the board
Also active at: Fonds Léon Frédéricq pour la Promotion des Recherches médicales, fondamentales et cliniques, auprès du Centre HospitalierUniversitaire de Liège, PUBLIGAS, RESA Innovation et Technologie
since 2023 · until 2030
Wim VERMEIR
Director
since 2023 · until 2028
since 2022 · until 2027
Shareholders
Participations
100%
FLUX RE
100%
100%
77.5%
BALANSYS
50%
Establishments
Establishment units
Physical locations of this company
Kunstlaan 31
1040 Brussel
Schoordijk 32-38
2170 Antwerpen
Active since 9 December 2004
Industrielaan 17
1070 Anderlecht
Active since 9 December 2004
Swinnenwijerweg 6
3600 Genk
Active since 9 December 2004
Rue de Wallonie 17
4460 Grâce-Hollogne
Active since 9 December 2004
Rue du Bosquet 32
6040 Charleroi
Active since 9 December 2004
Rue de la Hainette 2
7012 Mons
Active since 9 December 2004
Honderdweg 14
9230 Wetteren
Active since 9 December 2004
Kolvestraat 41
8000 Brugge
Active since 9 December 2004
Mierdsedijk 130
2382 Ravels
Active since 9 December 2004
Molenweg ZN
3020 Herent
Active since 9 December 2004
Rue Male Voye(BER) ZN
4607 Dalhem
Active since 9 December 2004
Vorssingersweg 1
2990 Wuustwezel
Active since 9 December 2004
Eugène Ghijsstraat 50
1600 Sint-Pieters-Leeuw
Active since 9 December 2004
Henri Victor Wolvensstraat 3
8380 Brugge
Active since 9 December 2004
Industriepark Rosteyne 03
9060 Zelzate
Active since 9 December 2004
Scheldelaan 153
2040 Antwerpen
Active since 1 September 2009
Koggenstraat 179
8380 Brugge
Active since 1 October 1998
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0402.954.628
- VAT number
- BE 0402.954.628
- Registered office
- Kunstlaan 31, 1040 Brussel
- Names & denominations
- FLUXYS BELGIUM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 8 January 1929
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Distributie van gasvormige brandstoffen via leidingen
Distributie van en handel in gasvormige brandstoffen via leidingen
Vervoer via pijpleidingen
Opslag van gas als onderdeel van netwerkleveringsdiensten