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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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Busy address KBO
25 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
NELLES FRERES from Malmedy, company number BE0434648486, closed financial year 2025 with a result of € 1.4 million after tax. For that financial year NELLES FRERES recorded revenue of € 40.1 million and equity of € 8 million. Compared with financial year 2024, the result moved from € 1.7 million to € 1.4 million. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 10, 2026.
€ 8 million
▲ 22% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.4 million
▼ 17% vs 2024
Profit after tax over the fiscal year.
€ 1.2 million
▼ 38% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 7.8 million.
People and assets in 2025
180.5
▲ 8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 13 million
▲ 10% vs 2024
€ 71,800 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.
€ 6.3 million
▲ 9% vs 2024
Of which on lease € 5.8 million.
Debts at end 2025
€ 23 million
▲ 22% vs 2024
€ 2.3 million is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 7.4 million
▲ 8% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 115 days on average.
€ 1.2 million
▼ 12% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 30,300,941 | € 36,122,370 | € 40,567,624 | € 40,074,933 | ▼ 1% |
| Profit after taxes | € 624,982 | € 1,474,636 | € 1,726,999 | € 1,427,252 | ▼ 17% |
| Equity | € 3,395,777 | € 4,867,837 | € 6,594,836 | € 8,022,088 | ▲ 22% |
| Total debts | € 22,641,484 | € 22,767,643 | € 27,270,136 | € 31,848,744 | ▲ 17% |
| Cash | € 837,779 | € 1,256,706 | € 1,902,887 | € 1,181,097 | ▼ 38% |
| Land & buildings | € 1,311,813 | € 1,412,318 | € 2,365,289 | € 2,387,788 | ▲ 1% |
| Retained profit | € 3,170,001 | € 4,644,637 | € 6,371,636 | € 7,798,888 | ▲ 22% |
| Bank debt | € 16,792,128 | € 15,834,588 | € 18,752,963 | € 22,965,769 | ▲ 22% |
| Balance sheet total | € 26,133,129 | € 27,725,496 | € 33,948,718 | € 39,946,388 | ▲ 18% |
| Employees (FTE) | 177.6 | 179.6 | 172.5 | 180.5 | ▲ 8 |
Key figures of NELLES FRERES, 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 NELLES FRERES?
What happened at NELLES FRERES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Alexandre David stepped down as director. NBB
- Finel stepped down as director. NBB
- Jean NELLES stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.4 million (▼ 17% vs 2024). Source: NBB ↗
- Finel became a director. NBB
- Jean NELLES became a director. NBB
- New establishment in Flémalle. KBO
- New establishment in Malmedy. KBO
In short
From € 624,982 profit in 2022 to € 1.4 million profit in 2025.
Paid € 1.8 million in corporate taxes since 2022.
Best year ever: 2024, with € 1.7 million profit.
Pays suppliers within 115 days on average.
Management
The stake of FINEL comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
NELLES FRERESThe shares are held by FINEL (51%). It owns 100% of BETON NELLES ROOSENS, 100% of COMUREX, 100% of NELLES TRANSPORTS, 69% of HOLLOGNE DEVELOPPEMENT, 50% of Dimitri BLAISE, Pierres Naturelles, en abrégé D.B.P.N. and 50% of FONCIERE DES FAGNES itself.
Directors
According to the 2025 annual accounts
Jean NELLES
Director
Also active at: COMUREX, BETON NELLES RECYCLAGE, NELLES TRANSPORTS, NELLES RECYCLAGE, J.M.M.J., HOLLOGNE DEVELOPPEMENT
since 2023 · until 2029
Alexandre David
Director
Also active at: COMUREX, NELLES TRANSPORTS, NB BETON, HOLLOGNE DEVELOPPEMENT
· until 2029
since 2024 · until 2029
Shareholders
51%
Participations
Establishments
Establishment units
Physical locations of this company
Xhoffraix-Au-dessus des Trous 4
4960 Malmedy
Bévercé-Route de la Vallée sn
4960 Malmedy
Active since 1 January 2008
Rue de l'Arbre St-Michel 95
4400 Flémalle
Active since 28 February 2018
Cahay sn
6690 Vielsalm
Active since 1 January 2008
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 25 companies are registered at this address.
All companies at this address →BETON NELLES RECYCLAGE same network
€ 496,507 gross margin · 2025
NELLES TRANSPORTS same network
€ 602,899 gross margin · 2025
NELLES RECYCLAGE same network
€ 472,402 gross margin · 2025
NELLES GROUPE
NELLES FRERES SA - COMUREX SPRL
+20 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
- 0434.648.486
- VAT number
- BE 0434.648.486
- Registered office
- Xhoffraix-Au-dessus des Trous 4, 4960 Malmedy
- Names & denominations
- NELLES FRERES
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 25 June 1988
- Peppol
- Active · Active since 7 Nov 2024
- Activities · NACE
Bouw van autowegen en andere wegen
Bouw van autowegen en andere wegen, vliegvelden en sportfaciliteiten
Waterbouw, muv baggerwerken
Goederenvervoer over de weg
Algemene bouw van residentiële gebouwen
Winning van sier- en bouwsteen
Slopen
Slopen van gebouwen
+3