Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 40 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 174.5 to 143.2.
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Busy address KBO
11 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
John Cockerill Hydrogen Belgium from Seraing, company number BE0772789892, closed financial year 2025 with a result of € -99.7 million after tax. For that financial year John Cockerill Hydrogen Belgium recorded revenue of € 14.3 million and equity of € 22 million. Compared with financial year 2024, the result moved from € -97.9 million to € -99.7 million. The company made a loss. The buffer shrank hard: equity is 64 % below last year. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 7, 2026.
€ 22 million
▼ 64% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -99.7 million
▼ 2 % more loss than in 2024
Profit after tax over the fiscal year.
€ 1.3 million
▼ 97% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -13.6 million.
People and assets in 2025
143.2
▼ 27.6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 16.9 million
▼ 12% vs 2024
€ 117,900 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.
€ 40,360
▼ 33% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 7 million
▲ 11% vs 2024
Loans from banks and other lenders, long and short.
€ 17.1 million
▼ 41% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 120 days on average.
€ 3.6 million
▼ 2% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 2,644,196 | € 2,520,006 | € 10,110,786 | € 14,277,270 | ▲ 41% |
| Profit after taxes | € -16,411,951 | € -42,320,661 | € -97,916,103 | € -99,678,616 | ▼ € 1.8 million |
| Equity | € -11,349,951 | € -46,137,125 | € 61,299,358 | € 21,987,740 | ▼ 64% |
| Total debts | € 77,993,487 | € 178,041,869 | € 96,701,917 | € 113,273,352 | ▲ 17% |
| Cash | € 1,470,971 | € 7,904,036 | € 37,879,972 | € 1,281,822 | ▼ 97% |
| Land & buildings | - | - | € 545,483 | € 516,093 | ▼ 5% |
| Retained profit | € -16,411,951 | € -58,732,612 | € -97,916,715 | € -13,611,735 | ▲ € 84.3 million |
| Bank debt | € 40,500,000 | € 140,500,000 | € 6,336,801 | € 7,012,097 | ▲ 11% |
| Balance sheet total | € 66,791,195 | € 134,898,120 | € 160,935,268 | € 161,857,795 | ▲ 1% |
| Employees (FTE) | 69.6 | 174.5 | 170.8 | 143.2 | ▼ 27.6 |
Key figures of John Cockerill Hydrogen Belgium, 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 John Cockerill Hydrogen Belgium?
What happened at John Cockerill Hydrogen Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 99.7 million. Source: NBB ↗
- Nicolas BENOIT de COIGNAC stepped down as director. NBB
- Jeremie MOULES stepped down as director. NBB
- Jeremie MOULES became a director. NBB
- Bruno BAYET stepped down as director. NBB
- Raphaël TILOT stepped down as director. NBB
- Nicolas BENOIT de COIGNAC became a director. NBB
- Stéphane PUTZEYS stepped down as director. NBB
In short
From € 16.4 million loss in 2022 to € 99.7 million loss in 2025.
Paid € 99,171 in corporate taxes since 2022.
Pays suppliers within 120 days on average.
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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 shares are held by JOHN COCKERILL HYDROGEN SAS (100%). It owns 100% of COCKERILL JINGLI HYDROGEN and 16.7% of HYVE BV itself.
Directors
According to the 2025 annual accounts
Nicolas BENOIT de COIGNAC
Managing director
since 2025 · until 2026
Stéphane PUTZEYS
Director
since 2024 · until 2025
Raphaël TILOT
Director
since 2023 · until 2026
Jeremie MOULES
Director
since 2026 · until 2026
Bruno BAYET
Director
since 2024 · until 2026
Shareholders
JOHN COCKERILL HYDROGEN SAS
100%
Participations
COCKERILL JINGLI HYDROGEN
100%
16.7%
Establishments
Establishment units
Physical locations of this company
Rue Jean Potier 1
4100 Seraing
Schoondonkweg 11
2830 Willebroek
Active since 1 January 2022
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 11 companies are registered at this address.
All companies at this address →JOHN COCKERILL
€ 272 million revenue · 2025
FONDATION JOHN COCKERILL
John Cockerill Renewables
€ 4.6 million revenue · 2025
John Cockerill Hamon
€ 1.6 million revenue · 2024
JC2X
€ -393 gross margin · 2025
+6 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
- 0772.789.892
- VAT number
- BE 0772.789.892
- Registered office
- Rue Jean Potier 1, 4100 Seraing
- Names & denominations
- John Cockerill Hydrogen Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 August 2021
- Peppol
- Active · Active since 10 Dec 2025
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