Inclusio S.A.

Inclusio S.A.

INCLU.BR
Inclusio S.A.BE flagEuronext Brussels
16.60
EUR
-0.20
- -
129.31MMarket Cap
Inclusio S.A.
INCLU.BR
(Euronext Brussels)

Recent

price

16.60

P/E

ratio

- -

div

yld

- -

ROIC.AI

2017
2018
2019
2020
2021
2022
2023
2024
2025
FRC
0.11
0.17
0.23
1.06
1
1.48
1.86
2.1
2.22
Revenue per Share
-0.05
0.04
0.06
0.01
1.97
2.99
4.34
2.62
2.02
Basic EPS, GAAP
-0.01
0.09
-0.06
0.84
-1.28
-3.97
0.38
0.61
0.41
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
0.5
0.7
0.75
0.43
Dividend per Share
7.37
7.46
11.83
30.55
21.21
22.23
23.6
21.89
21.15
Book Value per Share
7.76
7.8
12.43
32.48
22.58
25.07
28.72
30.61
31.4
Tangible Book Value per Share
7
7
7
5
7
7
7
7
8
Basic Weighted Avg Shares
1
1
2
5
7
11
14
16
17
Sales/Revenue/Turnover
-24.2
3.62
4.44
-18.81
59.41
64.69
71.17
73.41
74.24
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
- -
- -
- -
- -
15
22
32
19
15
Net Income, GAAP
- -
5.16
- -
- -
0.13
0.52
0.48
0.79
0.57
Effective Tax Rate (%)
-43.32
24.82
24.55
0.7
197.9
202.09
233.07
125.01
91.28
Profit Margin (%)
32
11
3
7
-1
-31
-3
-16
-18
Working Capital
- -
- -
14
10
51
71
125
143
143
LT Debt
56
56
89
148
168
186
213
227
239
Total Equity
- -
0.08
- -
- -
2.32
2.79
3.12
3.13
3.16
Return on Invested Capital (%)
- -
0.59
- -
- -
8.35
9.76
12.88
8.14
6.21
Return on Capital (%)
- -
0.58
0.58
0.03
9.88
13.78
18.91
11.53
9.53
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
No data availableFinancial data will appear here once available

Working Capital

FRC

in mil. unless spec.
No data availableFinancial data will appear here once available

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
10.15%
5.34%
Free Cash Flow
- -
-43.43%
-31.49%
Net Income, GAAP
- -
8,721.91%
-20.77%
Sales/Revenue/Turnover
- -
29.82%
8.5%
Total Cash Common Dividend
- -
- -
-41.34%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
14
2024
- -
- -
- -
- -
16
2025
- -
- -
- -
- -
17

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
4.34
2024
- -
- -
- -
- -
2.62
2025
- -
- -
- -
- -
2.02

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.7
2024
- -
- -
- -
- -
0.75
2025
- -
- -
- -
- -
0.43
Business
Inclusio SA (INCLU.BR) is a Belgium-based regulated real estate company (RREC) that specializes in acquiring, developing, renovating, and leasing social housing and infrastructure properties exclusively to social partners including housing companies, municipalities, and public welfare centers (CPASs); its core offerings encompass affordable rental housing for low- and medium-income tenants, specialized residential units for people with disabilities leased to care providers, and social infrastructure such as schools, daycare centers (crèches), reception centers for asylum seekers and the homeless, emergency accommodations, youth centers, and day centers for disabilities. Founded in 2011 and headquartered in Brussels at Herrmann-Debrouxlaan 40, Auderghem, the company operates solely within Belgium, targeting vulnerable populations with a portfolio of 224 buildings comprising 1,364 housing units, 10 social infrastructure units, 18 commercial units, two office buildings, a school, and a nursery, totaling 147,100 square meters valued at EUR 360 million as of end-2024. Certified as a B Corporation by B Lab, Inclusio houses over 4,500 people in high-energy-performance buildings exceeding regional averages and maintains three strategic pillars: affordable rental housing; disability housing; and social infrastructure. In 2025, Inclusio initiated a share buy-back program announced on October 9, acquiring 500 shares on October 15 at an average price of EUR 17.45, executed its optional dividend payable June 17 following half-year results to June 30, 2025, and reported first-quarter 2025 results alongside Q1 revenue contributions to its trailing twelve-month net sales of EUR 16.76 million and earnings of EUR 16.19 million. The company listed on Euronext Brussels in December 2020 via an IPO raising EUR 60 million at EUR 21.40 per share, transforming from earlier private fundraisings totaling EUR 92 million since inception to support accelerated portfolio growth from an initial EUR 141 million value in 2020.