Belgian industrialist Joris Ide has acquired a 5.56% stake in carpet maker Belysse, making him one of the company’s largest shareholders. Based on current market prices, his investment is worth around €1.5 million.
The move underscores Ide’s reputation as an active investor on Euronext Brussels. He previously held shares in Greenyard alongside Marc Coucke, before both exited during the recent takeover bid.
Belysse, formerly known as Balta, has faced years of weak performance and carries significant debt. In 2024, it reported revenue of €280.4 million, down 7% year-on-year, but improved its adjusted EBITDA by 25% to €42.4 million thanks to a turnaround in its European division. Still, the company’s market value has collapsed to just €28 million, with its share price sliding from €13.25 at IPO in 2017 to around €0.73 today.
Ide, 66, made his fortune by building and later selling steel-panel producer Joris Ide, a multinational with €1 billion in turnover, in transactions worth €340 million. Since then, he has reinvested in real estate, manufacturing, luxury arms maker Lebeau Courally, and even football club RSC Anderlecht. Recently, he returned to steel production through Idelco, a direct competitor of Recticel, investing €50 million in a new plant in Wielsbeke.
With Belysse, Ide steps into a struggling but still strategically significant Belgian manufacturer, potentially signaling new industrial ambitions.
