Warning lights
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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Tight liquidity NBB
Cash and receivables cover 36 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
10 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Patria Belgium Engine Center from Herstal, company number BE0898937602, closed financial year 2025 with a result of € 5.2 million after tax. For that financial year Patria Belgium Engine Center recorded revenue of € 52.8 million and equity of € 29.4 million. Compared with financial year 2024, the result moved from € 2.6 million to € 5.2 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 15, 2026.
€ 29.4 million
▲ 21% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 5.2 million
▲ 101% vs 2024
Profit after tax over the fiscal year.
€ 937,963
▼ 71% 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 € 21.2 million.
People and assets in 2025
117.6
▼ 12.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 13.2 million
▲ 4% vs 2024
€ 112,200 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.
€ 107,976
▼ 13% vs 2024
Of which on lease € 20,066.
Debts at end 2025
€ 30,353
▼ 33% vs 2024
€ 14,745 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 8.3 million
▼ 16% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 107 days on average.
€ 4.3 million
▲ 43% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 65,177,070 | € 55,766,465 | € 41,838,788 | € 52,754,621 | ▲ 26% |
| Profit after taxes | € 4,456,188 | € 4,823,995 | € 2,570,008 | € 5,157,543 | ▲ 101% |
| Equity | € 26,845,690 | € 26,668,689 | € 24,237,701 | € 29,394,248 | ▲ 21% |
| Total debts | € 45,933,793 | € 32,293,154 | € 37,202,869 | € 20,589,021 | ▼ 45% |
| Cash | € 15,365,468 | € 2,381,571 | € 3,241,052 | € 937,963 | ▼ 71% |
| Land & buildings | € 2,405,746 | € 2,100,265 | € 1,699,209 | € 2,372,934 | ▲ 40% |
| Retained profit | € 18,634,936 | € 18,458,931 | € 16,028,939 | € 21,186,483 | ▲ 32% |
| Dividend | € 5,000,000 | € 5,000,000 | € 5,000,000 | € 0 | ▼ 100% |
| Bank debt | € 73,753 | € 59,479 | € 45,098 | € 30,353 | ▼ 33% |
| Balance sheet total | € 74,105,821 | € 60,648,640 | € 61,801,841 | € 50,203,466 | ▼ 19% |
| Employees (FTE) | 119.5 | 117.7 | 130.4 | 117.6 | ▼ 12.8 |
Key figures of Patria Belgium Engine Center, 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 Patria Belgium Engine Center?
What happened at Patria Belgium Engine Center in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 5.2 million (▲ 101% vs 2024). Source: NBB ↗
- Mika HAKANEN became a director. NBB
- Mikko KILPELÄINEN became a director. NBB
- Pekka RUUTU became a director. NBB
- Jukka Markus HOLKERI stepped down as director. NBB
- Aleksi OJALA stepped down as director. NBB
- Mikko LEINO stepped down as director. NBB
- Mikko LEINO became a director. NBB
In short
From € 4.5 million profit in 2022 to € 5.2 million profit in 2025.
Paid € 6.5 million in corporate taxes since 2022.
Best year ever: 2025, with € 5.2 million profit.
Paid out € 15 million in dividends to the owners in total.
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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 Patria Belgium Engine Center are Mika HAKANEN, Mikko KILPELÄINEN, Hugo VANBOCKRYCK, Pekka RUUTU and Marjut Johanna PORKKA. The shares are held by Patria Oyj (100%).
Directors
According to the 2025 annual accounts
Mika HAKANEN
Director
since 2025
Mikko KILPELÄINEN
Director
since 2025
Hugo VANBOCKRYCK
Director
since 2020
Pekka RUUTU
Director
since 2025
Marjut Johanna PORKKA
Director
since 2019
Jukka Markus HOLKERI
Director
since 2019 · until 2025
Aleksi OJALA
Director
since 2022 · until 2025
Mikko LEINO
Director
since 2024 · until 2025
Shareholders
Patria Oyj
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue du Fond des Fourches 23
4041 Herstal
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 10 companies are registered at this address.
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€ 980.7 million revenue · 2025
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GROUPE NEWELEC
BeCOVER
€ 351,133 gross margin · 2025
+5 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
CLOUDFLARENET - Cloudflare, Inc., US
DNS
Cloudflare DNS
Domain
Domain
patriagroup.com
Registered
2004-10-21
Registrar
EuroDNS S.A.
Expires
2028-10-21
Website info
Features
Security
Network
Details
- Company number
- 0898.937.602
- VAT number
- BE 0898.937.602
- Registered office
- Rue du Fond des Fourches 23, 4041 Herstal
- Names & denominations
- Patria Belgium Engine Center · Patria BEC
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 1 July 2008
- Peppol
- Active · Active since 9 Feb 2026
- Contact
- patriagroup.com [email protected]
- Activities · NACE
Reparatie en onderhoud van civiele lucht- en ruimtevaartuigen
Vervaardiging van civiele lucht- en ruimtevaartuigen en van toestellen in verband daarmee
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