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Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Figures corrected NBB
Corrected annual account filed for 2025.
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Busy address KBO
42 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
ELECTRABEL from Brussel, company number BE0403170701, closed financial year 2025 with a result of € 5 billion after tax. For that financial year ELECTRABEL recorded revenue of € 13.1 billion and equity of € 10.2 billion. Compared with financial year 2024, the result moved from € 7.9 billion to € 5 billion. The company is profitable. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 8, 2026.
€ 10.2 billion
▼ 35% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 5 billion
▼ 36% vs 2024
Profit after tax over the fiscal year.
€ 30.7 million
▲ 101% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 10.4 billion paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
4,261
▼ 63.6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 751 million
▲ 9% vs 2024
€ 176,300 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.
€ 4 million
▼ 20% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 2.8 billion
▼ 82% vs 2024
€ 538.5 million is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 2.4 billion
▼ 27% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 77 days on average.
€ 396 million
▲ 10% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 21,881,825,497 | € 15,108,706,829 | € 11,023,083,522 | € 13,083,049,444 | ▲ 19% |
| Profit after taxes | € -98,479,494 | € -2,189,778,699 | € 7,850,067,569 | € 5,000,029,826 | ▼ 36% |
| Equity | € 16,203,496,062 | € 14,013,644,755 | € 15,630,540,083 | € 10,209,056,283 | ▼ 35% |
| Total debts | € 32,680,692,631 | € 25,433,302,146 | € 29,303,723,194 | € 8,643,948,553 | ▼ 71% |
| Cash | € 16,481,147 | € 149,864,343 | € 15,237,360 | € 30,685,720 | ▲ 101% |
| Land & buildings | € 40,842,875 | € 39,802,083 | € 39,072,623 | € 29,355,463 | ▼ 25% |
| Retained profit | € 3,335,708,103 | € 1,145,929,404 | € 2,762,880,102 | € 5,579,002,050 | ▲ 102% |
| Dividend | € 0 | € 0 | € 6,233,116,871 | € 10,411,474,421 | ▲ 67% |
| Bank debt | € 17,990,539,627 | € 16,645,995,723 | € 16,006,082,263 | € 2,822,107,589 | ▼ 82% |
| Balance sheet total | € 50,765,402,202 | € 46,510,805,214 | € 52,147,120,654 | € 20,524,145,594 | ▼ 61% |
| Employees (FTE) | 4,368.2 | 4,303.9 | 4,324.6 | 4,261 | ▼ 63.6 |
Key figures of ELECTRABEL, 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 ELECTRABEL?
What happened at ELECTRABEL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Corrected annual accounts filed for financial year 2025. Source: NBB ↗
- New establishment in Flémalle. KBO
- New establishment in Charleroi. KBO
- New establishment in Vilvoorde. KBO
- New establishment in Antwerpen. KBO
- New establishment in Beveren-Kruibeke-Zwijndrecht. KBO
- New establishment in Gent. KBO
- New establishment in Antwerpen. KBO
In short
From € 98.5 million loss in 2022 to € 5 billion profit in 2025.
Paid € 273.7 million in corporate taxes since 2022.
Best year ever: 2024, with € 7.9 billion profit.
Paid out € 16.6 billion in dividends to the owners in total.
Management
The stake of GENFINA comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ELECTRABELBehind ELECTRABEL are Thierry Saegeman , Cedric Osterrieth , Thijs Johnny BV (03/10/2019- 28/04/2026), Audrey ROBAT, Nisocafran BV ( 03/10/2019 - 27/04/2027) and Paulo Almirante . The shares are held by ENGIE SA (100%) and GENFINA (0.9%). It owns 100% of ENGIE ENERGIE NEDERLAND HOLDING, 100% of ENGIE GENERATION GERMANY GMBH, 100% of STERRES, 100% of N-ALLO, 100% of BELUX INNOVATION HOLDING and 100% of ENGIE ENERGY MANAGEMENT itself.
Directors
According to the 2025 annual accounts
Thierry Saegeman
Director
Cedric Osterrieth
Director, Managing director
Thijs Johnny BV (03/10/2019- 28/04/2026)
Chairman of the board · represented by Johnny Thijs
Also active at: RECTICEL, HOSPITAL LOGISTICS, H. ESSERS, GOLAZO
Audrey ROBAT
Director
Nisocafran BV ( 03/10/2019 - 27/04/2027)
Director · represented by Etienne Denoël
Paulo Almirante
Director
Vincent Verbeke
Director
Mireille Van Staeyen
Director
Pierre-François Riolacci
Director
Sandra Roche Vu-Quang
Director
Shareholders
ENGIE SA
100%
0.9%
Participations
ENGIE ENERGIE NEDERLAND HOLDING
100%
ENGIE GENERATION GERMANY GMBH
100%
100%
100%
100%
62.5%
50%
50%
50%
50%
50%
50%
50%
49%
49%
37.5%
33.9%
24.9%
13.6%
10%
0.3%
Establishments
Establishment units
Physical locations of this company
Simon Bolivarlaan 36
1000 Brussel
De Bruyckerweg 1
1620 Drogenbos
Active since 15 November 1990
Rodestraat 125
1630 Linkebeek
Active since 15 November 1990
Léon Monnoyerkaai 7
1000 Brussel
Active since 15 November 1990
Rue Chauw à Roc 6
6044 Charleroi
Active since 26 November 1990
Avenue de l'Industrie 1
4500 Huy
Active since 27 November 1990
Rue de Hautrage(B) 87
7331 Saint-Ghislain
Active since 27 November 1990
Scheldemolenstraat(DOEL)
9130 Beveren
Active since 10 December 1990
Scheldedijk (Zwijnd.) 1
9120 Beveren-Kruibeke-Zwijndrecht
Active since 10 December 1990
Quai du Halage(AWR) 47
4400 Flémalle
Active since 13 October 2005
Route du Lac S/N
4980 Trois-Ponts
Active since 13 October 2005
Pathoekeweg 300
8000 Brugge
Active since 13 October 2005
Scheldelaan 600
2040 Antwerpen
Active since 13 October 2005
Energiestraat 2
9042 Gent
Active since 13 October 2005
Boulevard de Merckem(NR) 60
5000 Namur
Active since 1 September 2006
Knippegroen 3
9042 Gent
Active since 1 August 2009
Ketenislaan(KAL) 1
9130 Beveren-Kruibeke-Zwijndrecht
Active since 17 March 2014
Van Immerseelstraat 66
2018 Antwerpen
Active since 1 July 2015
Esplanade Oscar Van de Voorde 1
9000 Gent
Active since 1 May 2016
Scheldelaan 420
2040 Antwerpen
Active since 1 June 2016
Canadastraat 21
2070 Beveren-Kruibeke-Zwijndrecht
Active since 1 June 2016
Willemsstraat (Jan Frans) 200.
1800 Vilvoorde
Active since 16 June 2020
Rue Santos - Dumont 3
6041 Charleroi
Active since 1 January 2021
Avenue Albert Einstein 2. box A
1348 Ottignies-Louvain-la-Neuve
Active since 1 November 2011
Quai du Halage 49
4400 Flémalle
Active since 1 November 2022
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 42 companies are registered at this address.
All companies at this address →Union financière et industrielle same network
ENGIE ENERGY SERVICES INTERNATIONAL
BELGONUCLEAIRE same network
INTERNATIONAL POWER
€ 34.6 million revenue · 2025
BLOMHOF same network
+37 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0403.170.701
- VAT number
- BE 0403.170.701
- Registered office
- Simon Bolivarlaan 36, 1000 Brussel
- Names & denominations
- ENGIE · ELECTRABEL · ENGIE ELECTRABEL
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 8 August 1905
- Peppol
- Active · Active since 15 Dec 2025
- Contact
- engie.com
- Activities · NACE
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