Cathie Associates

Shareholders of Cathie Associates NV

The company has a single shareholder. The deed filed with the Brussels companies court and published in the Belgian Official Gazette on 6 June 2025 (reference 25071747) records decisions taken on 6 December 2024 by Cathie Associates Holding BV, with registered office at Jan Mommaertslaan 22 box 3, 1831 Diegem, RPR Brussel (Dutch-language division), enterprise number 0886.739.851, described in that deed as the owner of all shares in the company and acting under article 7:125 of the Belgian Code of Companies and Associations, which governs decisions of a sole shareholder. The later publication of 9 April 2026 (reference 26048179) again refers to decisions of “the sole shareholder”. The 100% holding recorded in the source data is therefore confirmed by official filings. The figure of 6,200 shares is consistent with the registered capital of EUR 62,000 shown in KBO, but share counts are not published in KBO and were not independently verified.

Cathie Associates Holding is a separate Belgian legal person, registered since 25 January 2007, carrying NACEBEL code 70.200 (business and other management consultancy). KBO records its legal form as a private limited company (BV) since 15 December 2023; UK Companies House still names it under its earlier cooperative-company designation, which is consistent with a conversion rather than a change of entity.

Ultimate beneficial ownership

Above the direct parent the chain runs into a listed group. DEME’s own Financial Report 2021, in its list of fully consolidated subsidiaries as at 31 December 2021, shows “Cathie Associates Holding CVBA, Diegem, Belgium, 100%, Offshore Energy”. The same report states that DEME NV (Scheldedijk 30, Zwijndrecht, enterprise number 0400.473.705) was at that date held 100% by CFE NV, listed on Euronext Brussels (BE0003883031), which was in turn controlled 62.1% by Ackermans & van Haaren NV, also listed on Euronext Brussels (BE0003764785). Following the partial demerger announced by CFE NV on 2 December 2021, CFE’s 100% stake in DEME NV was transferred to DEME Group NV, which was itself admitted to listing on Euronext Brussels. Ackermans & van Haaren currently reports a 62.12% beneficial interest in DEME.

Because the chain terminates in companies listed on Euronext Brussels, it ends in a dispersed shareholder base rather than in an identifiable natural person holding a majority. That does not mean there is no beneficial owner: it means beneficial ownership at the top of the chain is determined under the listed companies’ own disclosure regimes rather than by a single controlling individual.

Data availability

Belgium’s UBO register is not publicly accessible. Public access was withdrawn following the Court of Justice of the European Union’s judgment in joined cases C-37/20 and C-601/20, and consultation is now restricted to competent authorities, obliged entities acting under anti-money-laundering duties, and persons able to demonstrate a legitimate interest. No data from that register is reproduced here, and its inaccessibility must not be read as an absence of beneficial owners.

Belgium publishes no share register, so shareholdings are evidenced only where a filing states them. The 100% holding by Cathie Associates Holding BV is taken from the Official Gazette filings cited above. The link from Cathie Associates Holding upward to DEME is verified as at 31 December 2021 from DEME’s own financial report; no more recent official confirmation of that specific shareholding was obtained. The National Bank’s accounting-data endpoint returned HTTP 403, so no shareholder-related figures were drawn from filed accounts.

Directors and officers of Cathie Associates NV

KBO’s list of functions, consulted on 24 September 2026, records six holders of the function bestuurder (director) and no other officers. All six are natural persons; no corporate director is recorded for this entity.

• Christophe Jaeck — director, in office since 22 August 2005; re-appointed 18 August 2023
• Alain Burgraeve — director, in office since 30 June 2010; re-appointed 18 August 2023
• Stuart Papworth — director, in office since 14 April 2022; re-appointed 18 August 2023
• Ingrid Beuls — director, appointed 18 August 2023
• Bart Vandemeulebroucke — director, appointed 18 August 2023
• Koen De Vylder — director, appointed by decision of the sole shareholder dated 6 December 2024; recorded in KBO from 9 December 2024

The board composition set out in the Official Gazette publication of 6 June 2025 — Burgraeve, Jaeck, Papworth, Beuls, Vandemeulebroucke and De Vylder — matches the KBO list exactly. Nationality is not recorded for any of these persons in KBO or in the filings consulted, and is therefore reported as not disclosed.

A corporate officeholder does appear, as statutory auditor rather than as a director. By decision of the sole shareholder dated 30 September 2024, published on 9 April 2026 (reference 26048179), Ernst & Young Bedrijfsrevisoren BV was appointed commissaris (statutory auditor) with effect from 1 October 2024 for three years, until the close of the ordinary general meeting of 2027. The filing sets out the full representation chain Belgian law requires where a legal person holds such a mandate: Ernst & Young Bedrijfsrevisoren BV is represented by Wim Van Gasse BV, which is in turn permanently represented by Wim Van Gasse as the natural person performing the engagement. The annual fee recorded in the filing is EUR 11,850.00 excluding VAT and expenses, indexable annually.

Recent officer changes

• 18 August 2023 — unanimous written shareholder resolutions re-appointed Alain Burgraeve, Christophe Jaeck, Stuart Papworth and Olivier Maes as directors for three years, and appointed Bart Vandemeulebroucke and Ingrid Beuls as new directors, all mandates unremunerated (published 10 November 2023, reference 23142815).
• 1 October 2024 — Ernst & Young Bedrijfsrevisoren BV took office as statutory auditor under the sole-shareholder decision of 30 September 2024 (published 9 April 2026, reference 26048179).
• 6 December 2024 — the sole shareholder took note of the resignation of Olivier Maes as director with effect that day and appointed Koen De Vylder as director with effect that day (published 6 June 2025, reference 25071747).

Data availability

The source record for this company carries 20 officer rows containing contradictions that the register and the Official Gazette resolve as follows.

The date 6 May 2026 is not a resignation date. The resolutions of 18 August 2023 state that the mandates then granted end immediately after the annual general meeting of 2026 deliberating on the accounts for the financial year ended 31 December 2025. The value stored in the resignation field for Olivier Maes, Christophe Jaeck and Alain Burgraeve is a scheduled mandate-expiry date derived from that clause, not a resignation. It is also not the date the meeting was held: National Bank deposit data for the accounts to 31 December 2025 records approval by the general meeting on 26 June 2026.

Olivier Maes is marked ACTIVE but is not a director. He resigned with effect from 6 December 2024, as published on 6 June 2025. Christophe Jaeck and Alain Burgraeve are marked RESIGNED but are current directors, appearing both in the board list of 6 December 2024 and in KBO’s list of functions on 24 September 2026. The ACTIVE and RESIGNED flags are reversed for these three rows; no record can be both, and the three identical date pairs reflect one 2023 resolution rather than three simultaneous departures.

The two undated ACTIVE rows are unsupported. Gareth Ellery and Martin Hammam appear with no appointment or resignation date and are flagged active, but neither name appears in KBO’s list of functions for enterprise number 0871.376.932, nor in the complete board lists published on 10 November 2023 and 6 June 2025. On the available official evidence they are not directors of this entity; they may hold roles elsewhere in the wider group, which was not verified.

One open point for compliance review: the mandates granted in 2023 and 2024 were expressed to end immediately after the 2026 annual general meeting, which was held on 26 June 2026. As at 24 September 2026 the most recent Official Gazette publication for this enterprise number is dated 9 April 2026, and KBO still shows all six directors in office, so no renewal or replacement has yet been published.

The source record also carries birth years for two individuals. Dates of birth and Belgian national register numbers are personal data and are not published here. The Official Gazette filings state elected domiciles for the directors; those addresses are likewise not reproduced. Nationality is not recorded in any source consulted and is reported as not disclosed rather than inferred from a name.

Group structure of Cathie Associates NV

Cathie Associates NV is an operating subsidiary at the bottom of a chain that runs, through a Belgian intermediate holding company, into the DEME group and ultimately into the listed investment holding Ackermans & van Haaren NV. No subsidiary of Cathie Associates NV itself was identified in any official source; nothing sits below it on the evidence available.

DEME’s published list of fully consolidated subsidiaries names the Belgian holding company, Cathie Associates Holding, and not Cathie Associates NV itself. The operating company’s place in the group is therefore established through its sole shareholder rather than by direct listing in the parent’s consolidation schedule.

Data availability

The 45-node group tree stored against this company is not this company’s group tree. It is the group tree of Ackermans & van Haaren NV (enterprise number 0404.616.494), a listed Belgian investment holding, and Cathie Associates NV does not appear in its first two levels at all. Entities in that tree such as DEME, CFE, BPI Real Estate and dredging companies registered in Panama and South Africa are, at most, fellow group companies of this entity; they are not parents, subsidiaries or affiliates of Cathie Associates NV in any direct sense, and no ownership relationship between them and this company should be inferred from that stored structure.

Only the spine of the structure was verified: Cathie Associates NV to Cathie Associates Holding BV (Official Gazette filings of 6 June 2025 and 9 April 2026); Cathie Associates Holding to DEME (DEME Financial Report 2021, subsidiary list at 31 December 2021); DEME NV to CFE NV and on to Ackermans & van Haaren NV (same report), with the 2022 transfer to DEME Group NV and Ackermans & van Haaren’s current 62.12% interest taken from the parties’ own published material. The remaining nodes of the stored 45-node tree were not checked individually and are treated here as unverified. Where an enterprise number is shown as “not verified” in the table above, the entity was identified by name in an official document but its registration number was not confirmed against a register.

The percentages above are ownership figures reported by the parent companies themselves or recorded in statutory filings. Belgium publishes no share register, the UBO register is closed to the public, and the National Bank’s accounting-data endpoint returned HTTP 403, so no group figures were drawn from this entity’s filed accounts.