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 0 % of short-term debt in 2025; threshold 65 %.
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Board fully replaced NBB
No director from three years ago is still active according to annual account 2025.
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Busy address KBO
53 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
WEL Research Institute from Wavre, company number BE0812367476, closed financial year 2025 with a result of € 471,693 after tax. For that financial year WEL Research Institute recorded a gross margin of € 969,568 and equity of € 3.1 million. Compared with financial year 2024, the result moved from € 116,258 to € 471,693. 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 June 25, 2026.
€ 3.1 million
▲ 18% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 471,693
▲ € 355,435 vs 2024
Profit after tax over the fiscal year.
€ 205
▼ 21% vs 2024
Cash and bank balances on the last day of the fiscal year.
People and assets in 2025
3
Average over the fiscal year, from the social balance sheet.
€ 499,576
▲ 18% vs 2024
€ 166,500 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.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 404,492
▲ 164% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 70,791
▲ 40% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 238,868 | € 392,166 | € 541,389 | € 969,568 | ▲ 79% |
| Profit after taxes | € 9,113 | € 60,577 | € 116,258 | € 471,693 | ▲ € 355,435 |
| Equity | € 2,482,545 | € 2,543,122 | € 2,659,380 | € 3,131,073 | ▲ 18% |
| Total debts | € 43,380 | € 135,291 | € 208,763 | € 475,413 | ▲ 128% |
| Cash | € 143 | € 194 | € 259 | € 205 | ▼ 21% |
| Retained profit | € 2,482,545 | € 2,543,122 | € 2,659,380 | € 3,131,073 | ▲ 18% |
| Balance sheet total | € 2,525,926 | € 2,678,414 | € 2,868,143 | € 3,606,485 | ▲ 26% |
| Employees (FTE) | 1.5 | 3 | 3 | 3 |
Key figures of WEL Research Institute, 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 WEL Research Institute?
What happened at WEL Research Institute in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Jean-François CORBISIER stepped down as director. NBB
- Nathalie LEBOEUF stepped down as director. NBB
- Philippe DENOEL stepped down as director. NBB
- Véronique HALLOIN stepped down as director. NBB
- Gwenaëlle DE KEYSER stepped down as director. NBB
- Jean-Christophe RENAULD stepped down as director. NBB
- Marc VAN DEN NESTE stepped down as director. NBB
- Pierre LEKEUX stepped down as director. NBB
In short
From € 9,113 profit in 2022 to € 471,693 profit in 2025.
Paid € 10,748 in corporate taxes since 2022.
Best year ever: 2025, with € 471,693 profit.
On average € 323,200 of value added per employee in 2025.
A new publication or filing at WEL Research Institute? We notify you, reason included.
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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
Behind WEL Research Institute is Danielle AUBRY.
Directors
According to the 2025 annual accounts
Danielle AUBRY
Government commissioner
since 2024
Jean-François CORBISIER
Director
since 2024 · until 2028
Véronique HALLOIN
Director
Also active at: Academia-Belgica Centre pour l'Histoire, les Arts et les Scieces à Rome. Academia Belgica-Centrum voor Geschiedenis, Kunsten en Wetenschappen in Rome, HELIOS Foundation
since 2009 · until 2026
Gwenaëlle DE KEYSER
Director
since 2022 · until 2026
Jean-Christophe RENAULD
Director
Also active at: de Duve Institute, CENTRE DE RESSOURCES TECHNOLOGIQUES EN CHIMIE, BIOWIN, BRUSSELS LIFE SCIENCE INCUBATOR
since 2016 · until 2026
since 2022 · until 2026
Pierre LEKEUX
Vice-chairman of the board
since 2009 · until 2026
since 2022 · until 2026
Jean François HEUSE
Director
since 2022 · until 2026
Philippe LAMBIN
Director
since 2022 · until 2026
since 2023 · until 2027
Ruddy WATTIEZ
Director
Also active at: MULTITEL, MATERIA NOVA, EURO-MULTITEL, UMONS VENTURE, IMBC SPINNOVA
since 2022 · until 2026
Nathalie LEBOEUF
Director
since 2024 · until 2028
Marius GILBERT
Director
since 2021 · until 2026
Establishments
Establishment units
Physical locations of this company
Avenue Pasteur 6
1300 Wavre
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 53 companies are registered at this address.
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€ 1.3 million gross margin · 2025
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€ -32,535 gross margin · 2025
VI.PI
€ -32,541 gross margin · 2025
+48 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
- 0812.367.476
- VAT number
- BE 0812.367.476
- Registered office
- Avenue Pasteur 6, 1300 Wavre
- Names & denominations
- WEL Research Institute · WELRI
- Enterprise type
- Rechtspersoon
- Legal form
- Non-profit association
- Legal situation
- Normale toestand
- Start date
- 18 June 2009
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Speur- en ontwikkelingswerk op biotechnologisch gebied