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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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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
FINORA from Sint-Gillis (bij-Brussel), company number BE0812682925, closed financial year 2025 with a result of € 99,602 after tax. For that financial year FINORA recorded a gross margin of € -22,282 and equity of € 149 million. Compared with financial year 2024, the result moved from € 152,925 to € 99,602. The company is profitable. 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 3, 2026.
€ 149 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 99,602
▼ 35% vs 2024
Profit after tax over the fiscal year.
€ 469,335
▼ 37% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 148 million.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 6,974
▲ 90% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -14,732 | € -27,133 | € -18,784 | € -22,282 | ▼ € 3,497 |
| Profit after taxes | € 47,205 | € 91,355 | € 152,925 | € 99,602 | ▼ 35% |
| Equity | € 148,700,747 | € 148,792,103 | € 148,945,028 | € 149,044,630 | |
| Total debts | € 1,874 | € 5,839 | € 3,666 | € 7,125 | ▲ 94% |
| Cash | € 2,588,192 | € 164,053 | € 742,627 | € 469,335 | ▼ 37% |
| Retained profit | € 147,700,747 | € 147,792,103 | € 147,945,028 | € 148,044,630 | |
| Balance sheet total | € 148,702,621 | € 148,797,941 | € 148,948,693 | € 149,051,755 |
Key figures of FINORA, 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 FINORA?
What happened at FINORA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Christophe Thibaut de Maisières stepped down as director. NBB
- Alexis GURDJIAN stepped down as director. NBB
- Pierre MILCHIOR stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 99,602 (▼ 35% vs 2024). Source: NBB ↗
- Christophe Thibaut de Maisières became a director. NBB
- Alexis GURDJIAN became a director. NBB
- Pierre MILCHIOR became a director. NBB
- New establishment in Elsene. KBO
In short
From € 47,205 profit in 2022 to € 99,602 profit in 2025.
Best year ever: 2024, with € 152,925 profit.
Management
It owns 57.4% of HAH, 46.8% of MILINVEST and 37.5% of ETAM DEVELOPPEMENT itself.
Directors
According to the 2025 annual accounts
since 2025 · until 2029
since 2023 · until 2029
since 2023 · until 2029
Establishments
Establishment units
Physical locations of this company
Dejonckerstraat 45
1060 Sint-Gillis (bij-Brussel)
Louizalaan 130 A
1050 Elsene
Active since 22 June 2009
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0812.682.925
- VAT number
- BE 0812.682.925
- Registered office
- Dejonckerstraat 45, 1060 Sint-Gillis (bij-Brussel)
- Names & denominations
- FINORA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 22 June 2009
- Peppol
- Not registered