• Update: 2020-09-22 16:29

BELGOFINA - Société Anonyme Belge Financière, Industrielle, Commerciale, Coloniale & Agricole






La Belgofina " Société Anonyme Belge, Financière, Industrielle, Commerciale, Coloniale et Agricole " was created on January 14, 1925; the head office was established in Brussels.

The capital of 5 million francs was represented by 800 preferred shares of 500 francs and 9,200 shares of capital of 500 francs. In addition, 10,000 dividend shares without designation of value were created. 

Hollando-Belge, S.A. in liquidation received 9,148 fully paid-up shares of capital of 500 francs and 4,574 dividend shares for its contribution described below.

The remaining 52 capital shares were subscribed by Compagnie Générale d'Exploitations aux Indes Orientales in The Hague. 

The 800 preference shares of 500 francs were subscribed by the comparators: 

Compagnie Générale d'Exploitations aux Indes Orientales à la Haye, 60 shares; Arthur Hayen, 60 shares; Arthur Jadoul, 60 shares; Georges Ugeux, 120 shares; Count Edouard de Meeus, 60 shares; Adolphe Ferminne, 60 shares; Alphonse Ferminne, 60 shares; Paul Jacquemin, 60 shares; Hubert Jadoul, 60 shares; Baron Henri de Moffart, for himself and a group, 90 shares; Albert Coussot, 30 shares; Emile Misson, 30 shares; Alfred Paligot, 20 shares; Jacques Claes d'Erckenteel, Charles Deome, Pierre Anssems, 10 shares each. 

The preferred shares and the 52 shares of capital were paid up by 50%; i.e. a sum of 213,000 francs made available to the Company. 

As for the dividend shares, they were allocated as follows: 

1) To the subscribed shares, 426 dividend shares to be distributed in the proportions of one dividend share for every two shares subscribed.

2) To Hollando-Belge, 4,574 dividend shares as mentioned above.

3) To the 5,000 shares to the holders of founder's shares of Hollando-Belge to be distributed on a share-for-share basis.


Hollando-Belge, S.A. in liquidation, has declared that it is contributing all its assets and liabilities; in consideration of this contribution, 9,148 fully paid-up shares with a capital of 500 francs and 4,574 dividend shares are allocated to Hollando-Belge.

First Board of Directors 

The Meeting set the number of directors at eleven and five auditors: 

Directors: Arthur Hayen, Arthur Jadoul, Paul Seigneur, Georges Ugeux, Hubert Jadoul, Gustave Jadoul, Louis Jadoul, Count Edouard de Meeus, Adolphe Ferminne, Alphonse Ferminne and Paul Jacquemin. 
Auditors: Baron Henri de Moffart, Charles Deome, Emile Misson, Albert Cousot and Léon Joly.


Constitution, management, and liquidation of all commercial companies.
Taking also in any existing commercial company any participation in any form whatsoever, either by subscription of shares, bonds, warrants, by the provision of the company's capital paid as a loan, limited partnership or otherwise.
To manage any business or enterprise in which it has no direct or indirect interest.
To carry out all operations likely to enable it or facilitate the achievement of its corporate object: in particular, to create all commercial, industrial or financial enterprises intended to be converted into public limited companies at a later date (12-(06-02-1925)-1177/1178).

Changes in capital 

On April 13, 1927, the share capital was increased to 6 million francs by the creation of 2,000 shares with a par value of 500 francs, of which 1,000 were allotted to Société de Plantations au Brésil, in liquidation, against contribution of its assets and liabilities; the other 1,000 shares were subscribed for at a price of 515 francs by Compagnie Générale d'Exploitation aux Indes Orientales, which offered them for subscription at a price of 525 francs to the shareholders of Société de Plantations au Brésil on the basis of 1 Belgofina share for every 4 Plantations au Brésil shares.
Since its creation, Plantations au Brésil has always been supported and financed by Hollando-Belge and then by Belgofina (21-(1928 T2) -110/111). 
On November 7, 1928, the capital was increased to 20 million francs by the creation of 28,000 capital shares of 500 francs and 2,500 dividend shares; the capital shares were subscribed at a price of 515 francs per:
Georges Ugeux and Paul Seigneur, for themselves and for a group, 19,500 shares; Georges Marquet, 4,000 shares; Paul de Launoit, 2,500 shares; Frédéric Brugmann, 2,000 shares; who decided to offer 21,200 shares for subscription at a price of 535 francs on the basis of one share of capital per old share of capital or dividend.
The 2,500 dividend shares were allocated to subscribers who participated in the capital increase (21-(1930 T3)-166 to 168).


Event(s), shareholding(s), dividend(s), quotation 

1925 - For the first year of its existence, because of the improvement in the rubber market and its participation in plantation business, the company had a successful year (21-(1926 T2)-158). 

1926 - A significant increase in results marked the year (21-(1928 T2) -110/111). 

1927 - Belgofina's activity turned towards the Belgian Congo. It took part in the creation or extension of several colonial organizations, notably Agricomin and Etablissements Bernasconi. She was admitted as a participating member of the National Committee of Kivu and participated, with the help of various personalities, in the creation of the Colonial Union of Mines (21-(1928 T2)-110/111). 

1928 - The participation in the National Committee of Kivu doubled, allowing him to subscribe to the capital of the Société Auxiliaire Agricole du Kivu. Belgofina cooperated in the creation of the Syndicat Colonial Belge des Mines; it entered the capital of S.A. Les Mines d'or de Porcecito (Colombia) and S.A. Société Industrielle et Minière Belgo-Colombienne (Colombomin).
She had indirect interests in two other mining organizations: the Compagnie Minière de L'Oubangui Oriental and the Compagnie Indochinoise des Mines, French colonial companies. She also had interests in the S.A. Fabrique Nationale des Lampes Electriques (Fanal) (21-(1929 T2) -114/115).
1929 - In spite of the stock market crisis of 1929, which significantly affected the results, Belgofina continued its expansion by taking stakes in various companies such as S.A. Anvers-Campine; Société Belge et Internationale de Placements; S.A. Auguste Francotte et Cie, a manufacturer of weapons and sewing machines; the Compagnie Internationale des Mines et de l'Industrie (Intermines); it was involved in the formation of the company Les Mines de Cabralès, whose object was the study and exploitation of mines, especially deposits of mercurial barite in Asturias (Spain); it took a stake in the Société Immobilière du Kivu created by the Comité National du Kivu.
It also directed its mining research activity towards Bolivia, Venezuela and even Morocco.
It contributed to the constitution of the capital of the Cooperative Society Le Fonds de Logements des Familles Nombreuses (21-(1930 T3)-166 to 168).

Dividendes bruts

Act. priv.
Act. cap.
Act. div.


Cours au 31 décembre

Act. de capital
Act. de dividende 
575 frs
1495 frs
500 frs
1700 frs


On December 31, 1930, Belgofina merged by absorption with Comptoir Peemans S.A.; because of this merger, Belgofina received 4,000 capital shares and 2,000 fully paid-up founder's shares of Comptoir Peemans S.A. (21-(1931 T3)-6/7). 

On 8 March 1932, by judgment of the Commercial Court, Comptoir Peemans was, upon admission, declared bankrupt (21-(1932 T2)-1731).


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The shares, old titles and historical financial documents presented have no market value, they only have a collection value.