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 52 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
TELENET from Mechelen, company number BE0473416418, closed financial year 2025 with a result of € 5.6 million after tax. For that financial year TELENET recorded revenue of € 2.1 billion and equity of € 2.7 billion. Compared with financial year 2024, the result moved from € -31.1 million to € 5.6 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 July 24, 2026.
€ 2.7 billion
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 5.6 million
▲ still € 31.1 million loss in 2024
Profit after tax over the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 2.6 billion.
People and assets in 2025
2,475.5
▼ 124.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 297.4 million
€ 120,100 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.
€ 3 million
▼ 29% vs 2024
Of which on lease € 1.9 million.
Debts at end 2025
€ 857 million
▲ 7% vs 2024
€ 105.6 million is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 551.1 million
▼ 7% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 143 days on average.
€ 113.3 million
▼ 27% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 2,157,509,716 | € 2,183,854,629 | € 2,139,480,900 | € 2,115,769,552 | ▼ 1% |
| Profit after taxes | € 170,039,338 | € 3,826,844,889 | € -31,143,482 | € 5,567,435 | ▲ € 36.7 million |
| Equity | € 761,059,933 | € 2,725,374,452 | € 2,694,226,088 | € 2,699,575,391 | |
| Total debts | € 3,662,715,648 | € 1,700,069,389 | € 1,798,909,466 | € 1,778,449,335 | ▼ 1% |
| Cash | € 7,896,869 | € 3,124,785 | € 2,333,947 | - | |
| Land & buildings | € 19,567,473 | € 19,368,585 | € 18,361,765 | € 17,423,805 | ▼ 5% |
| Retained profit | € 418,264,389 | € 2,675,466,106 | € 2,644,322,625 | € 2,649,890,060 | |
| Dividend | € 0 | € 1,862,689,095 | € 0 | € 0 | |
| Bank debt | € 2,427,430,005 | € 448,263,799 | € 801,527,517 | € 857,021,485 | ▲ 7% |
| Balance sheet total | € 4,456,104,353 | € 4,443,059,317 | € 4,509,860,830 | € 4,492,859,798 | |
| Employees (FTE) | 2,588.5 | 2,587.2 | 2,599.6 | 2,475.5 | ▼ 124.1 |
Key figures of TELENET, 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 TELENET?
What happened at TELENET in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Bart van Sprundel stepped down as director. NBB
- Silvia Brady stepped down as director. NBB
- John Clinton II Porter stepped down as director. NBB
- Geert Degezelle stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 5.6 million. Source: NBB ↗
- Bart van Sprundel became a director. NBB
- Dieter Nieuwdorp stepped down as director. NBB
- Silvia Brady became a director. NBB
In short
From € 170 million profit in 2022 to € 5.6 million profit in 2025.
Paid € 146.5 million in corporate taxes since 2022.
Best year ever: 2023, with € 3.8 billion profit.
Paid out € 1.9 billion in dividends to the owners in total.
Management
The stake of Telenet Group comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
TELENETThe shares are held by Telenet Group (100%). It owns 100% of Eltrona Interdiffusion S.A, 100% of Telenet Solutions Luxemburg, 100% of Blossom Energy, 100% of Telenet Retail, 100% of Telenet International Finance and 66.8% of Wyre Holding itself.
Directors
According to the 2025 annual accounts
Bart van Sprundel
Director
Also active at: Telenet Group, TELENET GROUP HOLDING, Wyre Holding, Wyre, Telenet Retail, Blossom Energy
since 2026 · until 2030
since 2017 · until 2028
Dieter Nieuwdorp
Director
Also active at: Vlaams Netwerk van Ondernemingen, TELENET VLAANDEREN, Telenet Group, Telenet Retail
since 2018 · until 2026
Geert Degezelle
Director
since 2023 · until 2028
since 2026 · until 2030
Peter Willekens
Director
since 2022 · until 2025
Shareholders
100%
Participations
Eltrona Interdiffusion S.A
100%
Telenet Solutions Luxemburg
100%
100%
100%
Telenet International Finance
100%
66.8%
50%
49.2%
44.4%
30%
Establishments
Establishment units
Physical locations of this company
Liersesteenweg(MeSK) 4
2800 Mechelen
Liersesteenweg 4
2800 Mechelen
Active since 29 May 2002
Saffierstraat(HRT) 5
2200 Herentals
Active since 4 May 2005
Chazallaan 140
1030 Schaarbeek
Active since 1 February 2008
Sluisweg 1 box 12
9000 Gent
Active since 1 February 2015
Koralenhoeve 15
2160 Wommelgem
Active since 5 May 2019
Ambachtenstraat 33
8870 Izegem
Active since 1 March 2020
Weihoek 1
1930 Zaventem
Active since 1 December 2025
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 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
- 0473.416.418
- VAT number
- BE 0473.416.418
- Registered office
- Liersesteenweg(MeSK) 4, 2800 Mechelen
- Names & denominations
- Nextel · TELENET · Hostbasket
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 4 December 2000
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Draadgebonden en draadloze telecommunicatie en telecommunicatie via satelliet
Draadloze telecommunicatie
Productie van televisieprogramma's
Samenstellen en uitzenden van televisieprogramma’s en distributie van video’s
Activiteiten van hoofdkantoren