Financials
Financial year 2025
Fondation Reine Paola from Elsene, company number BE0418089301, closed financial year 2025 with a result of € -1.1 million after tax. For that financial year Fondation Reine Paola recorded revenue of € 117,745 and equity of € 11.4 million. Compared with financial year 2024, the result moved from € 319,839 to € -1.1 million. The company made a loss. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 22, 2026.
€ 11.4 million
▲ € 10.3 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.1 million
▼ still € 319,839 profit in 2024
Profit after tax over the fiscal year.
€ 1.8 million
▲ 67% vs 2024
Cash and bank balances on the last day of the fiscal year.
People and assets in 2025
5.9
▲ 4.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 609,980
▲ 216% vs 2024
€ 103,400 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.
€ 12,768
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.1 million
€ 240,000 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 2.8 million
▲ € 2.7 million vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 101,894
▲ € 93,085 vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | - | - | € 117,745 | |
| Gross margin | € 325,832 | € 280,548 | € 769,583 | € 1,843,322 | ▲ 140% |
| Profit after taxes | € -468,602 | € -161,520 | € 319,839 | € -1,112,601 | ▼ € 1.4 million |
| Equity | € 988,463 | € 826,943 | € 1,146,781 | € 11,448,973 | ▲ € 10.3 million |
| Total debts | € 383,202 | € 255,724 | € 239,004 | € 4,072,264 | ▲ € 3.8 million |
| Cash | € 235,244 | € 260,550 | € 1,084,818 | € 1,807,813 | ▲ 67% |
| Retained profit | € 705,275 | € 543,755 | € 863,593 | € 11,140,785 | ▲ € 10.3 million |
| Bank debt | € 0 | € 0 | € 0 | € 1,100,025 | |
| Balance sheet total | € 1,371,664 | € 1,082,667 | € 1,385,785 | € 15,762,481 | ▲ € 14.4 million |
| Employees (FTE) | 2.1 | 1.5 | 1.8 | 5.9 | ▲ 4.1 |
Key figures of Fondation Reine Paola, 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 Fondation Reine Paola?
What happened at Fondation Reine Paola in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 1.1 million (▼ € 1.4 million vs 2024). Source: NBB ↗
- Karsten De Clerck became a director. NBB
- New establishment in Brugge. KBO
- Christiaan Hoorne became a director. NBB
- Philippe Deschamps became a director. NBB
- Jean-Luc Cottyn became a director. NBB
- Etienne Denoel stepped down as director. NBB
- Stanislas Peel stepped down as director. NBB
In short
From € 468,602 loss in 2022 to € 1.1 million loss in 2025.
Paid € 2,425 in corporate taxes since 2022.
Best year ever: 2024, with € 319,839 profit.
On average € 312,400 of value added per employee in 2025.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind Fondation Reine Paola are Christiaan Hoorne, Michel Flohimont, Philippe Deschamps, Jean-Luc Cottyn, Thierry Le Grelle and Vincent Houssiau. Christiaan Hoorne is also behind A & C INVEST, TABORASA and Pelicano.
Directors
According to the 2025 annual accounts
since 2025
Michel Flohimont
Director
since 2019
Philippe Deschamps
Director
since 2025
Jean-Luc Cottyn
Director
since 2025
Thierry Le Grelle
Director
Also active at: FEDERATION BELGE DU COMMERCE ET DES SERVICES, PetSerCo, ANISTORES
since 2022
Vincent Houssiau
Director
since 2022
Karsten De Clerck
Director
Also active at: Les Instituts Internationaux de Physique et de Chimie Fondes Par Ernestsolvay, AVENUE DES COURSES 9, EGON ZEHNDER ASSOCIATES (INTERNATIONAL), StraZart
since 2025
Etienne Denoel
Director
since 2022 · until 2025
Stanislas Peel
Director
since 2024 · until 2025
Piet Van Speybroeck
Director
since 2013 · until 2025
since 2019 · until 2025
since 2024 · until 2025
Xavier Van Campenhout
Director
Also active at: SOCLOTHES, Fondation Gingo, SOVERIN, Superstories, STRUDELIMMO, DEGROOF PETERCAM FOUNDATION, PULSE PROTEIN
since 2024 · until 2025
since 2013 · until 2025
Heidi De Pauw
Director
Also active at: De Vlaamse Radio- en Televisieomroeporganisatie, FONDATION POUR ENFANTS DISPARUS ET SEXUELEMENT EXPLOITES - STICHTING VOOR VERMISTE EN SEKSUEEL UITGEBUITE KINDEREN
since 2019 · until 2025
since 2018 · until 2025
since 2022 · until 2025
Establishments
Establishment units
Physical locations of this company
Louizalaan 367
1050 Elsene
Baron Ruzettelaan 3 box 3/2
8310 Brugge
Active since 31 March 2025
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0418.089.301
- VAT number
- BE 0418.089.301
- Registered office
- Louizalaan 367, 1050 Elsene
- Names & denominations
- Fondation Reine Paola · Stichting Koningin Paola
- Enterprise type
- Rechtspersoon
- Legal form
- Public-interest foundation
- Legal situation
- Normale toestand
- Start date
- 25 January 1978
- Peppol
- Active · Active since 30 Apr 2025
- Activities · NACE
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