Financials
Financial year 2025
Otary RS from Oostende, company number BE0833507538, closed financial year 2025 with a result of € 17.2 million after tax. For that financial year Otary RS recorded revenue of € 12.4 million and equity of € 81.5 million. Compared with financial year 2024, the result moved from € 62.8 million to € 17.2 million. 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 July 6, 2026.
€ 81.5 million
▲ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 17.2 million
▼ 73% vs 2024
Profit after tax over the fiscal year.
€ 11 million
▲ 70% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 14.5 million paid out
84 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2025
42.7
▲ 0.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 5.1 million
▲ 3% vs 2024
€ 120,500 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.
€ 59,825
▼ 15% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 11 million
▲ 7% vs 2024
Loans from banks and other lenders, long and short.
€ 1.5 million
▼ 8% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 54 days on average.
€ 715,186
▼ 4% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 9,931,614 | € 11,441,848 | € 13,389,031 | € 12,426,978 | ▼ 7% |
| Profit after taxes | € 20,352,480 | € 43,531,394 | € 62,771,635 | € 17,237,470 | ▼ 73% |
| Equity | € 84,070,146 | € 79,955,455 | € 79,186,525 | € 81,503,955 | ▲ 3% |
| Total debts | € 2,087,979 | € 4,072,210 | € 13,562,353 | € 14,121,330 | ▲ 4% |
| Cash | € 8,855,081 | € 7,734,722 | € 6,481,937 | € 10,999,623 | ▲ 70% |
| Retained profit | € 5,759,539 | € 7,644,849 | € 6,875,919 | € 9,193,348 | ▲ 34% |
| Dividend | € 18,563,000 | € 41,176,000 | € 63,006,000 | € 14,471,000 | ▼ 77% |
| Bank debt | € 0 | € 0 | € 10,250,000 | € 11,000,000 | ▲ 7% |
| Balance sheet total | € 86,158,125 | € 84,027,665 | € 92,748,879 | € 95,625,285 | ▲ 3% |
| Employees (FTE) | 40.4 | 41.9 | 42.2 | 42.7 | ▲ 0.5 |
Key figures of Otary RS, 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 Otary RS?
What happened at Otary RS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- WE Environnement SA stepped down as director. NBB
- Koen Janssen stepped down as director. NBB
- PE BV stepped down as director. NBB
- Power @ Sea stepped down as director. NBB
- Nuhma cv stepped down as director. NBB
- Sparaxis stepped down as director. NBB
- SOCOFE sa stepped down as director. NBB
- Rik Van de Walle stepped down as director. NBB
In short
From € 20.4 million profit in 2022 to € 17.2 million profit in 2025.
Paid € 1 million in corporate taxes since 2022.
Best year ever: 2024, with € 62.8 million profit.
Paid out € 137.2 million in dividends to the owners in total.
Management
The shares are held by WE Environnement SA (12.5%), Aspiravi Offshore II NV (12.5%), Green Offshore NV (12.5%), Elicio Offshore NV (12.5%), Power@Sea NV (12.5%) and Socofe SA (12.5%). It owns 52% of Rentel and 51% of Otary BIS itself.
Directors
According to the 2025 annual accounts
Director · represented by Anne Vereecke
Owns 3.1% via Power@Sea NV
Also active at: RECYCLAGE ET VALORISATION TECHNIQUE, DEME ENVIRONNEMENT, BSTOR, ECOSTAL GROUP, HeCoS, Gramme Storage 1
since 2024 · until 2028
Koen Janssen
Director
Also active at: AANNEMINGSMAATSCHAPPIJ CFE, Bedrijvencentrum Regio Mechelen, AvH Growth Capital, BSTOR, ESTOR-LUX, DEME GROUP, Deep C Holding
since 2022 · until 2028
Director · represented by Peter Goderis
Also active at: SeaMade, OTARY BIS, NORTH SEA WAVE, RENTEL, NORTHER
since 2022 · until 2028
Director · represented by Kristof Van Loon
Also active at: SeaMade, OTARY BIS, NORTH SEA WAVE, RENTEL
since 2022 · until 2028
Director · represented by Ludo Kelchtermans
Also active at: A.I.T. EUROPE, CIPAL, WIND EN WATER ENERGIE PRODUCENT, 3E, C-POWER HOLDCO, SeaMade, BIONERGA LOGISTICS, NUHMERIS +21 more
since 2022 · until 2028
Director · represented by Olivier Vanderijst
Also active at: C.P. Bourg, A.M.B., Jean Goldschmidt International, Ateliers Pierre Cerfontaine, Floridienne, Fonderies J. Marichal Ketin et Cie, JUNGLING, MEBF +224 more
since 2022 · until 2028
Director · represented by Jean-Marie Breban
Owns 3.1% via Power@Sea NV
Also active at: WE Environnement, C - Power, SeaMade, GREEN4POWER, OTARY BIS, NORTH SEA WAVE, ESTOR-LUX, PERPETUM INFRA 4BE +7 more
since 2022 · until 2028
Rik Van de Walle
Director
Also active at: VLAAMSE ECOLOGIE - ENERGIE - EN MILIEUONDERNEMING, ASPIRAVI OFFSHORE, WIND AAN DE STROOM 2014, GROENE ENERGIE HAVEN ANTWERPEN, WIND AAN DE STROOM 2013, SeaMade, LOMMEL WIN(D)T, A&P WIND SERVICES +13 more
since 2022 · until 2028
Bert Devriendt
Director
Also active at: BLUEPOWER, SeaMade, DEME CONCESSIONS WIND, OTARY BIS, NORTH SEA WAVE, DEME HYPORT Energy, DEME BLUE ENERGY, RENTEL
since 2023 · until 2028
Shareholders
Establishments
Establishment units
Physical locations of this company
Buskruitstraat 3
8400 Oostende
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 4 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
- 0833.507.538
- VAT number
- BE 0833.507.538
- Registered office
- Buskruitstraat 3, 8400 Oostende
- Names & denominations
- Otary RS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 21 January 2011
- Peppol
- Active · Active since 5 Feb 2026
- Activities · NACE
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