Warning lights
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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Tight liquidity NBB
Cash and receivables cover 54 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 2.8 to 2.
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Figures corrected NBB
Corrected annual account filed for 2023.
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Busy address KBO
28 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Solvac from Elsene, company number BE0423898710, closed financial year 2025 with a result of € 125.3 million after tax. Compared with financial year 2024, the result moved from € 104.7 million to € 125.3 million. Profitable, and profit is growing. 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 2, 2026.
€ 2.5 billion
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 125.3 million
▲ 20% vs 2024
Profit after tax over the fiscal year.
€ 3.3 million
▲ 4% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 124.2 million paid out
99 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2025
2
▼ 0.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 307,294
▼ 9% vs 2024
€ 153,600 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.
Debts at end 2025
€ 150 million
▼ 8% vs 2024
Loans from banks and other lenders, long and short.
€ 146,635
▼ 15% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 20 days on average.
€ 92,016
▲ 48% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Profit after taxes | € 122,019,970 | € 127,342,422 | € 104,697,692 | € 125,312,220 | ▲ 20% |
| Equity | € 2,532,771,631 | € 2,535,925,111 | € 2,516,433,862 | € 2,517,557,140 | |
| Total debts | € 215,941,106 | € 219,024,281 | € 216,375,279 | € 215,412,136 | |
| Cash | € 736,345 | € 4,220,932 | € 3,199,911 | € 3,323,744 | ▲ 4% |
| Retained profit | € 1,767,163,473 | € 1,770,316,953 | € 1,750,825,704 | € 1,751,948,982 | |
| Dividend | € 119,272,684 | € 124,188,942 | € 124,188,942 | € 124,188,942 | |
| Bank debt | € 198,000,000 | € 198,600,000 | € 163,000,000 | € 150,000,000 | ▼ 8% |
| Balance sheet total | € 2,748,712,737 | € 2,754,949,392 | € 2,732,809,141 | € 2,732,969,276 | |
| Employees (FTE) | 1.6 | 2.8 | 2.3 | 2 | ▼ 0.3 |
Key figures of Solvac, 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 Solvac?
What happened at Solvac in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Valentine Delwart stepped down as director. NBB
- Tanguy du Monceau de Bergendal stepped down as director. NBB
- Patrick Solvay stepped down as director. NBB
- Savina de Limon Triest stepped down as director. NBB
- Jean-Marie Solvay stepped down as director. NBB
- Olivia Rolin stepped down as director. NBB
- Laure le Hardÿ de Beaulieu stepped down as director. NBB
- Gaëtan Vercruysse stepped down as director. NBB
In short
From € 122 million profit in 2022 to € 125.3 million profit in 2025.
Paid € 1,457 in corporate taxes since 2022.
Best year ever: 2023, with € 127.3 million profit.
Paid out € 491.8 million in dividends to the owners in total.
A new publication or filing at Solvac? We notify you, reason included.
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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
The stake of FINANCIERE DE L'ARGENTINE, ARSEC comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SolvacThe shares are held by FINANCIERE DE L'ARGENTINE (0.2%) and ARSEC. It owns 31.4% of Syensqo and 30.8% of Solvay itself.
Directors
According to the 2025 annual accounts
Laure le Hardÿ de Beaulieu
Director
since 2023 · until 2027
Marion De Decker-Semet
Director
since 2022 · until 2026
Patrick Mondron
Director
since 2022 · until 2026
Valentine Delwart
Director
Also active at: Animation - Prévention socio - culturelle, LE PARASCOLAIRE D'UCCLE
since 2025 · until 2029
Jean-Marie Solvay
Chairman of the board
since 2024 · until 2028
since 2023 · until 2027
Mélodie de la Vallée de Rarecourt de Pimodan
Director
since 2023 · until 2027
Vincent Baron de Dorlodot
Director
since 2022 · until 2026
Patrick Solvay
Director
Also active at: The LifeSkills Company, HEALTH ECONOMICS PRIVAK, SOLHER, TS.DCP Privak, pricaf privée de droit belge, Lion Privak, IMMOSTEP
since 2025 · until 2029
Melchior de Vogüé
Managing director
since 2022 · until 2026
Olivia Rolin
Director
since 2024 · until 2028
Savina de Limon Triest
Director
since 2025 · until 2029
Shareholders
Establishments
Establishment units
Physical locations of this company
Elyzeese Veldenstraat 43
1050 Elsene
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 28 companies are registered at this address.
All companies at this address →Annales des Sociétés belges de médecine Tropicale de Parasitologie et de Mycologie
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Belgisch Tijdschrift voor Rhumatologie en Physische Geneeskunde
Journal Belge de Rhumatologie et de Médecine Phisique
Revue Belge de Pathologie et de Médecine Expérimentale
+23 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
- 0423.898.710
- VAT number
- BE 0423.898.710
- Registered office
- Elyzeese Veldenstraat 43, 1050 Elsene
- Names & denominations
- Solvac
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 January 1983
- Peppol
- Active · Active since 7 Dec 2025
- Activities · NACE
Activiteiten van holdings
Holdings