Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 27.4 to 2.5.
-
Busy address KBO
30 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
OPEN SOCIETY EUROPEAN POLICY INSTITUTE from Brussel, company number BE0865155569, closed financial year 2025 with a result of € 0 after tax. For that financial year OPEN SOCIETY EUROPEAN POLICY INSTITUTE recorded a gross margin of € 602,462 and equity of € 45,523. Compared with financial year 2024, the result moved from € 1.5 million to € 0. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 23, 2026.
€ 45,523
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 0
▼ € 1.5 million vs 2024
Profit after tax over the fiscal year.
€ 518,134
▼ 74% vs 2024
Cash and bank balances on the last day of the fiscal year.
People and assets in 2025
2.5
▼ 9.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.4 million
▼ 86% vs 2024
€ 549,000 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.
€ 15,169
▼ 99% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 59,340
▼ 95% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 6,745,056 | € 11,247,634 | € 5,679,253 | € 602,462 | ▼ 89% |
| Profit after taxes | € 1,021,585 | € -1,687,986 | € 1,517,589 | € 0 | ▼ € 1.5 million |
| Equity | € 2,397,338 | € 457,995 | € 45,523 | € 45,523 | |
| Total debts | € 2,871,951 | € 2,789,884 | € 2,346,974 | € 2,020,431 | ▼ 14% |
| Cash | € 2,898,218 | € 1,122,939 | € 1,955,846 | € 518,134 | ▼ 74% |
| Retained profit | € 215,920 | € -1,472,066 | € 45,523 | € 45,523 | |
| Balance sheet total | € 5,269,290 | € 10,247,879 | € 3,198,497 | € 2,065,954 | ▼ 35% |
| Employees (FTE) | 29.6 | 27.4 | 11.6 | 2.5 | ▼ 9.1 |
Key figures of OPEN SOCIETY EUROPEAN POLICY 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 OPEN SOCIETY EUROPEAN POLICY INSTITUTE?
What happened at OPEN SOCIETY EUROPEAN POLICY INSTITUTE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Binaifer Nowrojee stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 0 (▼ € 1.5 million vs 2024). Source: NBB ↗
- Binaifer Nowrojee became a director. NBB
- Miklos Sandor became a director. NBB
- Michael Vachon became a director. NBB
- New establishment in Brussel. KBO
- Start of the company according to the CBE. KBO
In short
From € 1 million profit in 2022 to € 0 profit in 2025.
Best year ever: 2024, with € 1.5 million profit.
On average € 241,000 of value added per employee in 2025.
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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 OPEN SOCIETY EUROPEAN POLICY INSTITUTE are Miklos Sandor and Michael Vachon.
Directors
According to the 2025 annual accounts
Miklos Sandor
Director
since 2024
Michael Vachon
Director
since 2023
Binaifer Nowrojee
Director
since 2024 · until 2028
Establishments
Establishment units
Physical locations of this company
Kortenberglaan 71
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 30 companies are registered at this address.
All companies at this address →Locotrans
Internationale Federatie van Liberale en Radicale Jongeren
Confédération Européenne de la Plasturgie
THE EUROPEAN PLASTICS PIPES AND FITTINGS ASSOCIATION
€ 243,012 gross margin · 2025
European Organisation for Technical Assessment- (Organisation européenne pour l'Évaluation Technique)
€ 210,278 gross margin · 2025
+25 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
- 0865.155.569
- VAT number
- BE 0865.155.569
- Registered office
- Kortenberglaan 71, 1000 Brussel
- Names & denominations
- OPEN SOCIETY EUROPEAN POLICY INSTITUTE · OSEPI
- Enterprise type
- Rechtspersoon
- Legal form
- Non-profit association
- Legal situation
- Normale toestand
- Start date
- 7 May 2004
- Peppol
- Active · Active since 25 Feb 2026
- Activities · NACE
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