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.
Financials
Financial year 2025
WindGrid from Brussel, company number BE0784365061, closed financial year 2025 with a result of € -121.1 million after tax. For that financial year WindGrid recorded a gross margin of € -5.3 million and equity of € 37.9 million. Compared with financial year 2024, the result moved from € -4.3 million to € -121.1 million. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on May 11, 2026.
€ 37.9 million
▼ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -121.1 million
▼ 2712 % more loss than in 2024
Profit after tax over the fiscal year.
€ 31.5 million
▲ € 31.1 million vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -133.7 million.
People and assets in 2025
4.1
▲ 0.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.5 million
▲ 3% vs 2024
€ 366,500 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.
€ 4,689
▼ 28% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 2.5 million
▲ 137% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 70,567
▼ 77% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -2,560,227 | € -4,880,937 | € -2,879,149 | € -5,301,725 | ▼ € 2.4 million |
| Profit after taxes | € -2,773,916 | € -5,558,532 | € -4,306,156 | € -121,089,934 | ▼ € 116.8 million |
| Equity | € 9,226,084 | € 3,667,553 | € 38,511,396 | € 37,945,462 | ▼ 1% |
| Total debts | € 714,084 | € 983,788 | € 1,509,440 | € 2,549,460 | ▲ 69% |
| Cash | € 9,660,800 | € 2,900,234 | € 366,617 | € 31,454,603 | ▲ € 31.1 million |
| Retained profit | € -2,773,916 | € -8,332,447 | € -12,638,604 | € -133,728,538 | ▼ € 121.1 million |
| Balance sheet total | € 9,940,168 | € 4,651,341 | € 40,020,837 | € 118,594,765 | ▲ 196% |
| Employees (FTE) | 0.9 | 2.3 | 3.8 | 4.1 | ▲ 0.3 |
Key figures of WindGrid, 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 WindGrid?
What happened at WindGrid in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Daniela Baratto stepped down as director. NBB
- Bernard Gustin stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 121.1 million. Source: NBB ↗
- Frédéric Dunon stepped down as director. NBB
- Peter Michiels stepped down as director. NBB
- Marco Nix stepped down as director. NBB
- Stefan Kapferer stepped down as director. NBB
- Daniela Baratto became a director. NBB
In short
From € 2.8 million loss in 2022 to € 121.1 million loss in 2025.
Paid € 3,664 in corporate taxes since 2022.
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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 Group Elia NV (100%). It owns 100% of Windgrid USA Holdings LLC itself.
Directors
According to the 2025 annual accounts
Frédéric Dunon
Director
since 2025 · until 2026
Peter Michiels
Director
since 2025 · until 2026
Marco Nix
Director
since 2025 · until 2026
Bernard Gustin
Chairman of the board
since 2025 · until 2028
Stefan Kapferer
Director
since 2025 · until 2026
Daniela Baratto
Managing director
since 2026 · until 2029
Shareholders
100%
Participations
Windgrid USA Holdings LLC
100%
Establishments
Establishment units
Physical locations of this company
Keizerslaan 20
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 7 companies are registered at this address.
All companies at this address →Elia Engineering
€ 51.3 million revenue · 2025
ELIA ASSET
€ 963.7 million revenue · 2025
Elia Group same network
ELIA GRID INTERNATIONAL
€ 14.3 million revenue · 2025
Elia Transmission Belgium
€ 1.5 billion revenue · 2025
+2 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
- 0784.365.061
- VAT number
- BE 0784.365.061
- Registered office
- Keizerslaan 20, 1000 Brussel
- Names & denominations
- WindGrid
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 April 2022
- Peppol
- Active · Active since 12 Jan 2026
- Activities · NACE
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