Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 45 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
RESA from Liège, company number BE0847027754, closed financial year 2025 with a result of € 49.3 million after tax. For that financial year RESA recorded revenue of € 386.4 million and equity of € 985.6 million. Compared with financial year 2024, the result moved from € 48.3 million to € 49.3 million. 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 18, 2026.
€ 985.6 million
▲ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 49.3 million
▲ 2% vs 2024
Profit after tax over the fiscal year.
€ 58.7 million
▲ 93% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 18.8 million paid out
38 % of the profit went to the shareholders, mostly to RESA Holding (100 % of the shares). That is where the money ends up.
People and assets in 2025
930.6
▼ 8.6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 111.4 million
▲ 4% vs 2024
€ 119,700 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.
€ 8.3 million
▲ 21% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1 billion
▲ 33% vs 2024
€ 199.2 million is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 111.7 million
▼ 5% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 175 days on average.
€ 16.9 million
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 364,856,365 | € 392,969,197 | € 383,881,317 | € 386,357,989 | ▲ 1% |
| Profit after taxes | € 41,997,248 | € 51,112,939 | € 48,250,350 | € 49,287,886 | ▲ 2% |
| Equity | € 860,680,381 | € 894,314,448 | € 955,584,514 | € 985,645,160 | ▲ 3% |
| Total debts | € 835,259,408 | € 917,056,867 | € 977,196,170 | € 1,239,958,875 | ▲ 27% |
| Cash | € 41,098,464 | € 23,831,783 | € 30,499,840 | € 58,725,635 | ▲ 93% |
| Land & buildings | € 30,072,316 | € 89,035,078 | € 87,576,098 | € 85,516,489 | ▼ 2% |
| Retained profit | € 196,428,692 | € 228,641,631 | € 257,941,981 | € 288,279,866 | ▲ 12% |
| Dividend | € 18,800,000 | € 18,800,000 | € 18,800,000 | € 18,800,000 | |
| Bank debt | € 593,289,956 | € 676,700,228 | € 765,282,596 | € 1,017,733,552 | ▲ 33% |
| Balance sheet total | € 1,706,439,101 | € 1,821,280,591 | € 1,954,576,445 | € 2,247,279,341 | ▲ 15% |
| Employees (FTE) | 937.6 | 954.4 | 939.2 | 930.6 | ▼ 8.6 |
Key figures of RESA, 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 RESA?
What happened at RESA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Antoine LUKOKI KONDA stepped down as director. NBB
- Caroline SAAL stepped down as director. NBB
- Benjamin HOUET stepped down as director. NBB
- Eric GILLET stepped down as director. NBB
- Nicolas du FONTBARE stepped down as director. NBB
- Jacques CHABOT stepped down as director. NBB
- Mélanie LEPONCE stepped down as director. NBB
- Paul ERNOUX stepped down as director. NBB
In short
From € 42 million profit in 2022 to € 49.3 million profit in 2025.
Paid € 62.8 million in corporate taxes since 2022.
Best year ever: 2023, with € 51.1 million profit.
Paid out € 75.2 million in dividends to the owners in total.
A new publication or filing at RESA? 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
The stake of RESA Holding, ENODIA comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
RESAThe shares are held by RESA Holding (100%) and ENODIA (100%). It owns 100% of RESA INNOVATION ET TECHNOLOGIE, 25% of AREWAL and 15.6% of ATRIAS itself.
Directors
According to the 2025 annual accounts
since 2025 · until 2031
Caroline SAAL
Director, Observateur
Also active at: ECETIA INTERCOMMUNALE, CENTRE HOSPITALIER REGIONAL DE LA CITADELLE, ELIPSE, RESEAU HOSPITALIER UNIVERSITAIRE
since 2019 · until 2031
since 2025 · until 2031
Pol GUILLAUME
Vice-chairman of the board
Also active at: ASSOCIATION INTERCOMMUNALE DE TRAITEMENT DES DECHETS LIEGEOIS, RESA Innovation et Technologie
since 2019 · until 2025
since 2025 · until 2031
since 2025 · until 2031
since 2025 · until 2031
since 2020 · until 2025
Marie-Josée LOMBARDO
Chairman of the board
Also active at: RESA Innovation et Technologie, RESA Holding
since 2024 · until 2025
Mélanie LEPONCE
Director
Also active at: SOCIETE PUBLIQUE DE GESTION DE L'EAU, RESA Innovation et Technologie
since 2025 · until 2031
Luc GILLARD
Director
Also active at: Compagnie Intercommunale Liégeoise des Eaux, ENODIA, Fédération du Tourisme de la Province de Liège, Orchestre philharmonique Royal de Liège, THEATRE DE LIEGE ASBL - Centre dramatique de la Fédération wallonie - Bruxelles - Centre européen de création théâtrale et chorégraphique, ASSOCIATION POUR LA GESTION DU CHATEAU DE JEHAY, NETHYS, ELICIO +3 more
since 2025 · until 2025
since 2024 · until 2031
since 2019 · until 2025
since 2024 · until 2025
Emmanuel DOUETTE
Chairman of the board
since 2025 · until 2031
Antoine PELOSATO
Director
since 2025 · until 2031
André DENIS
Director
Also active at: NEOMANSIO, INTERCOMMUNALE DE SOINS SPECIALISES DE LIEGE, CENTRE HOSPITALIER REGIONAL DE VERVIERS, DEMABEL, Commission de gestion du Parc Naturel Hautes Fagnes-Eifel, association sans but lucratif ou ASBL, GABRIEL, ASSOCIATION POUR LA GESTION DU CHATEAU DE JEHAY, VETERINAIRE DE MON BIJOU +5 more
since 2025 · until 2031
Philippe GROSJEAN
Vice-chairman of the board
Also active at: CENTRE HOSPITALIER BOIS DE L'ABBAYE, ECETIA INTERCOMMUNALE, Agilis - location immobilière solidaire, Agence locale pour l'Emploi de Seraing, COOPERATIVE D'ETUDES, DE GESTION ET DE PARTICIPATION, RESA Innovation et Technologie, Agilis - Intendance immobilière, Agilis - Gestion Immobilière +1 more
since 2025 · until 2031
since 2020 · until 2025
Malik BEN ACHOUR
Director
Also active at: ASSOCIATION INTERCOMMUNALE POUR LE DEMERGEMENT ET L'EPURATION DES COMMUNES DE LA PROVINCE DE LIEGE, SOLSOC, CENTRE REGIONAL DE VERVIERS POUR L'INTEGRATION DES PERSONNES ETRANGERES, RESA Innovation et Technologie, REGIE COMMUNALE AUTONOME SYNERGIS
since 2021 · until 2025
since 2025 · until 2031
since 2024 · until 2025
François SCHREUER
Director
since 2024 · until 2031
Rodrigue DEMEUSE
Director
Also active at: La Mézon (Maison des Jeunes communale), RESA Innovation et Technologie
since 2024 · until 2025
Shareholders
100%
100%
Participations
Establishments
Establishment units
Physical locations of this company
Boulevard d'Avroy 38
4000 Liège
Rue Jean Jaurès 46
4430 Ans
Active since 1 July 2018
Place de la Centrale 11
4400 Flémalle
Active since 1 July 2018
Parc Ind. des Hauts Sarts, 2e av 30
4040 Herstal
Active since 1 July 2018
Rue Sainte-Marie 11
4000 Liège
Active since 1 July 2018
Rue du Pont du Val 2
4100 Seraing
Active since 1 July 2018
Rue de Visé 23
4020 Liège
Active since 1 July 2018
Oestrasse 3
4700 Eupen
Active since 1 June 2019
Rue de la Science 16
4530 Villers-le-Bouillet
Active since 11 June 2024
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 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
- 0847.027.754
- VAT number
- BE 0847.027.754
- Registered office
- Boulevard d'Avroy 38, 4000 Liège
- Names & denominations
- RESA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 2 July 2012
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- resa.be [email protected]
- Activities · NACE
Distributie van elektriciteit
Productie van elektriciteit uit niet-hernieuwbare bronnen