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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Busy address KBO
49 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
ENHESA from Elsene, company number BE0474389386, closed financial year 2025 with a result of € 15 million after tax. For that financial year ENHESA recorded revenue of € 37 million and equity of € 51.2 million. Compared with financial year 2024, the result moved from € 4.3 million to € 15 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 2, 2026.
€ 51.2 million
▲ 12% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 15 million
▲ 246% vs 2024
Profit after tax over the fiscal year.
€ 677,801
▼ 38% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 9.5 million paid out
63 % of the profit went to the shareholders, mostly to ENHESA GROUP (100 % of the shares). That is where the money ends up.
People and assets in 2025
92.7
▲ 1.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 15 million
▲ 23% vs 2024
€ 162,300 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.
€ 45,251
▼ 46% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 47 million
▲ 197% vs 2024
Loans from banks and other lenders, long and short.
€ 5 million
▼ 69% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 118 days on average.
€ 4 million
▲ 35% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 27,370,348 | € 30,479,165 | € 35,292,052 | € 37,000,642 | ▲ 5% |
| Profit after taxes | € 2,308,161 | € 4,444,221 | € 4,330,655 | € 14,993,484 | ▲ 246% |
| Equity | € 36,966,610 | € 41,410,831 | € 45,741,486 | € 51,234,970 | ▲ 12% |
| Total debts | € 26,177,153 | € 43,452,273 | € 60,163,436 | € 67,513,347 | ▲ 12% |
| Cash | € 446,221 | € 769,759 | € 1,098,448 | € 677,801 | ▼ 38% |
| Retained profit | € 5,121,935 | € 9,566,156 | € 13,896,811 | € 19,390,295 | ▲ 40% |
| Dividend | € 0 | € 0 | € 0 | € 9,500,000 | |
| Bank debt | € 15,821,631 | € 15,821,631 | € 15,821,631 | € 46,960,773 | ▲ 197% |
| Balance sheet total | € 63,143,763 | € 84,863,104 | € 105,904,922 | € 118,748,317 | ▲ 12% |
| Employees (FTE) | 77.2 | 85.1 | 90.9 | 92.7 | ▲ 1.8 |
Key figures of ENHESA, 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 ENHESA?
What happened at ENHESA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Laurent Henri Marcelis stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 15 million (▲ 246% vs 2024). Source: NBB ↗
- Laurent Henri Marcelis became a director. NBB
- New establishment in Brussel. KBO
- Start of the company according to the CBE. KBO
In short
From € 2.3 million profit in 2022 to € 15 million profit in 2025.
Paid € 3.5 million in corporate taxes since 2022.
Best year ever: 2025, with € 15 million profit.
Paid out € 9.5 million in dividends to the owners in total.
Management
The stake of ENHESA GROUP comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ENHESAThe shares are held by ENHESA GROUP (100%). It owns 100% of C W Research Limited, 100% of ENHESA KABUSHIKI KAISHA, 100% of ENHESA (Shanghai) Co. Ltd. and 100% of ENHESA INC itself.
Directors
According to the 2025 annual accounts
Laurent Henri Marcelis
Director
Also active at: ENHESA GROUP, Magic Midco, Magic Bidco, Magic Finco, Magic Parentco
since 2024 · until 2030
Shareholders
100%
Participations
C W Research Limited
100%
ENHESA KABUSHIKI KAISHA
100%
ENHESA (Shanghai) Co. Ltd.
100%
ENHESA INC
100%
Establishments
Establishment units
Physical locations of this company
Louizalaan 287
1050 Elsene
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 49 companies are registered at this address.
All companies at this address →Schiedel Metaloterm
€ 334,379 gross margin · 2025
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€ 6.9 million revenue · 2025
G.L. - METAL
LYONNAISE BELGIQUE - BELGIE
+44 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Certifications & Partners
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
DNS
AWS Route 53
Domain
Domain
enhesa.com
Registered
2001-03-09
Registrar
Amazon Registrar, Inc.
Expires
2027-03-09
Website info
Features
Security
Details
- Company number
- 0474.389.386
- VAT number
- BE 0474.389.386
- Registered office
- Louizalaan 287, 1050 Elsene
- Names & denominations
- ENHESA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 23 March 2001
- Peppol
- Active · Active since 24 Dec 2025
- Contact
- enhesa.com [email protected] 02/7759797
- Activities · NACE
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