Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 60 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
15 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
LINEAS from Schaarbeek, company number BE0896067192, closed financial year 2025 with a result of € -58.9 million after tax. For that financial year LINEAS recorded revenue of € 431.9 million and equity of € 55 million. Compared with financial year 2024, the result moved from € -40.5 million to € -58.9 million. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 16, 2026.
€ 55 million
▼ 4% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -58.9 million
▼ 45 % more loss than in 2024
Profit after tax over the fiscal year.
€ 93,115
▲ 41% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -58.3 million.
People and assets in 2025
841.2
▼ 50.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 81.9 million
▼ 2% vs 2024
€ 97,300 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.
€ 76.7 million
▼ 10% vs 2024
Of which on lease € 66.8 million.
Debts at end 2025
€ 83.2 million
▲ 1% vs 2024
€ 3.1 million is repaid this year. At this pace the long-term loan is gone in ≈ 11 years.
€ 101.6 million
▼ 10% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 99 days on average.
€ 19.9 million
Taxes, VAT and social contributions still to pay.
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| 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|
| Revenue | € 478,513,250 | € 431,929,896 | ▼ 10% |
| Profit after taxes | € -40,523,943 | € -58,937,930 | ▼ € 18.4 million |
| Equity | € 57,190,214 | € 54,994,740 | ▼ 4% |
| Total debts | € 225,450,596 | € 234,385,453 | ▲ 4% |
| Cash | € 65,902 | € 93,115 | ▲ 41% |
| Land & buildings | € 1,777,456 | € 1,269,016 | ▼ 29% |
| Retained profit | € -36,689,209 | € -58,309,988 | ▼ € 21.6 million |
| Bank debt | € 82,093,188 | € 83,155,836 | ▲ 1% |
| Balance sheet total | € 283,308,059 | € 290,057,547 | ▲ 2% |
| Employees (FTE) | 891.7 | 841.2 | ▼ 50.5 |
Key figures of LINEAS, fiscal years 2024 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 LINEAS?
What happened at LINEAS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- PMV NV stepped down as director. NBB
- Sparaxis SA stepped down as director. NBB
- Fed. Participatie en Invest. Maatschappij (FPIM) NV stepped down as director. NBB
- Féron Dorian stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 58.9 million. Source: NBB ↗
- GEMA BV stepped down as director. NBB
- PMV NV became a director. NBB
- B Logistics Holding NV stepped down as director. NBB
In short
From € 40.5 million loss in 2024 to € 58.9 million loss in 2025.
Paid € 717,081 in corporate taxes since 2024.
Pays suppliers within 99 days on average.
A new publication or filing at LINEAS? 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 shares are held by Lineas Group NV (100%). It owns 100% of LINEAS DEUTSCHLAND, 100% of LINEAS FRANCE, 100% of Lineas Netherlands, 100% of LINEAS ITALIA, 42.5% of SIBELIT and 35% of Sea Rail itself.
Directors
According to the 2025 annual accounts
Lid van de toezichtsraad · represented by Michel Allé
Also active at: D'Ieteren Group, EURVEST, EPICS THERAPEUTICS, NEUVASQ BIOTECHNOLOGIES, LINEAS GROUP
since 2022 · until 2026
Fed. Participatie en Invest. Maatschappij (FPIM) NV
Lid van de toezichtsraad · represented by Adrien Gassée
since 2022 · until 2028
Lid van de toezichtsraad · represented by Jeroen Vergrote
Holds a stake via Lineas Group NV
Also active at: VLAAMSE INSTELLING VOOR TECHNOLOGISCH ONDERZOEK, Arts Gebroeders immobilière, BEDRIJVENCENTRUM VILVOORDE, BIOTECH FONDS VLAANDEREN, MAISON DE LA RADIO FLAGEY, HERTECANT FLANGES, Site-Ontwikkeling Vlaanderen, SUSTAINABLE ENERGY VENTURES +136 more
since 2026 · until 2032
Féron Dorian
Lid van de toezichtsraad
since 2023 · until 2028
Lid van de toezichtsraad · represented by Maarten Meijssen
Owns 53.6% via Lineas Group NV
Also active at: LINEAS GROUP
since 2024 · until 2026
Richard Reis
Lid van de toezichtsraad
since 2024 · until 2026
Lid van de toezichtsraad · represented by Vincent Vandrepol
Also active at: C.P. Bourg, A.M.B., Jean Goldschmidt International, Ateliers Pierre Cerfontaine, Floridienne, Fonderies J. Marichal Ketin et Cie, JUNGLING, MEBF +223 more
since 2026 · until 2032
Arne Louwagie
Lid van de toezichtsraad
since 2020 · until 2026
Karel Kroupa
Lid van de toezichtsraad
since 2023 · until 2026
Jessica Peters
Lid van de toezichtsraad
since 2022 · until 2026
Gilles Mougenot
Lid van de toezichtsraad
since 2024 · until 2026
Shareholders
Lineas Group NV · holding of B Logistics Holding NV
100%
Participations
100%
LINEAS FRANCE
100%
Lineas Netherlands
100%
LINEAS ITALIA
100%
SIBELIT
42.5%
35%
Establishments
Establishment units
Physical locations of this company
Koning AlbertII laan 37
1030 Schaarbeek
Noorderlaan 630
2030 Antwerpen
Active since 1 July 2014
Smalleweg 100
2030 Antwerpen
Active since 1 July 2014
Rue de Clabecq 101
1460 Ittre
Active since 1 July 2014
Borsbeeksebrug 34
2600 Antwerpen
Active since 1 July 2018
Rue de la Croyère(L.L) 1
7100 La Louvière
Active since 1 July 2018
Place des Martyrs - ATHUS 1
6791 Aubange
Active since 1 July 2018
Rue d'Ougrée 52
4031 Liège
Active since 1 July 2018
Baron de Maerelaan 103
8380 Brugge
Active since 1 July 2018
Alfred Ronsestraat z/n
8380 Brugge
Active since 1 July 2018
Noordveenakkerstraat 52b
9000 Gent
Active since 1 July 2018
Hermeslaan 27
3600 Genk
Active since 1 July 2018
Hazopweg(KAL) 7
9130 Beveren-Kruibeke-Zwijndrecht
Active since 1 July 2018
Rue du Coron 1
6200 Châtelet
Active since 1 July 2018
Rue Tir de Ronet(FW) 49
5020 Namur
Active since 28 February 2008
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 15 companies are registered at this address.
All companies at this address →Entreprise publique des Technologies Numériques de l'Information et de la Communication de la Communauté française
B LOGISTICS HOLDING same network
Modal Shifters
MSIG EUROPE
MSIG Specialty Marine
€ 45.4 million revenue · 2024
+10 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
- 0896.067.192
- VAT number
- BE 0896.067.192
- Registered office
- Koning AlbertII laan 37, 1030 Schaarbeek
- Names & denominations
- LINEAS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 February 2008
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Goederenvervoer per spoor
Logistieke diensten
Goederenvervoer over de weg
Goederenvervoer over binnenwateren
Andere vervoerondersteunende activiteiten