Electrolyse

What Electrolyse does

Electrolyse is the Menen-based (West Flanders) branch of EEG Group (EEG nv), a Belgian, family-owned multi-technical building technology integrator founded in 1936 by Michel Neyrinck and still led by the Neyrinck family (CEO Karl Neyrinck). Electrolyse specializes in electrical installations and panel building — covering power, lighting, data, fire detection, access control, intruder detection, video intercom, EV charging and medium-voltage work — and delivers these alongside the group's broader portfolio of HVAC, sanitary, ventilation, boiler-room renovation, medical gases, medical equipment and fire protection services. The wider group executes complex Design & Build projects (BIM-based), runs an in-house prefabrication department (running at full capacity since 2023), and operates a Schneider Electric-based Digital Building Solutions platform for centralized monitoring and predictive maintenance of building installations.

The company serves enterprise and institutional clients across Belgium, with healthcare as the flagship vertical — EEG Group has installed or renovated technical infrastructure in more than 90% of Belgian hospitals (including AZ Delta Roeselare, CHU Tivoli, AZ Alma, AZ Zeno, AZ Rivierenland, WZC Dunecluze and WZC De Lichtervelde). Other verticals include public infrastructure (NMBS Gent-Sint-Pieters ~€100M, Antwerp Prison), sports/leisure (Sportoase Deurne, Vita Krokodiel), industrial and corporate HQs (TVH, Steelforce, Chevron Phillips Chemicals), education (BlueApp/University of Antwerp) and culture/media (VRT). The group operates 10 regional branches and 4 competence centers (Digital Building Solutions, Medical, Ventilation, Facility Management), employs 850 people, executes roughly 400 active project sites per year, and reports ~€200 million in annual revenue.

Electrolyse and its sister branches generate revenue primarily through project-based B2B contracting (Design & Build, design-bid-build and subcontracting), often via temporary partnerships (Tijdelijke Maatschap) with general contractors such as VMA Nizet/VMA Druart, Stadsbader, Antwerpse Bouwwerken and Valens, and as subcontractors to Vandenbussche, Hellebrekers, De Tender and others. Go-to-market is enterprise field-sales via the Belgium-wide branch network, with a multilingual NL/FR/EN digital presence. A managed-services revenue stream was added in 2023 through the new Facility Management business unit, which provides data-driven maintenance and energy optimization for clients whose installations EEG originally delivered — creating recurring post-installation revenue. The group is privately held, has grown primarily through acquisitions since 2006, and was legally consolidated under a single EEG NV entity between 2023 and 2024.

Name

Electrolyse

Legal name

EEG nv

Website

https://eeg.be

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

1–10 employees

Short description

Electrolyse is the Menen-based branch of Belgian EEG Group, specializing in electrical installations and panel building as part of a 10-branch multi-technical building-technology integrator serving healthcare, public infrastructure, industrial and commercial clients across Belgium.

Ownership category

akta.pro rank

Product category

Building Technical Installations

NAICS

Wiring Device Manufacturing (33593), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (33451)

SIC

Electrical Work (1731), Electrical Industrial Apparatus (3620)

akta.pro primary industry

Electrical Contracting & Wiring (IMAFALAA)

akta.pro secondary industries

Industrial Electronics Manufacturing Services (EMS) (IMAGAGAA), Industrial Power & Energy Electronics Manufacturing Services (UPS, converters, inverters, chargers) (IMAGAGAI), Home Energy & EV Charging (HEMS, Smart Meters, Batteries, Chargers) (HSAPAQAF), EV/Industrial Charging Power Electronics (Chargers, rectifiers, power stages) (IMAGADAF)

Keywords

• Electrical installations
• Panel building
• Building technical services
• Multi-technical engineering
• HVAC and electrical contracting

Headquarters

HQ city

Menen

HQ country

Belgium

HQ region

Europe

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Multi-technical project contracts: Design, installation, integration and renovation of technical building installations (HVAC, electrical, sanitary, ventilation, medical gases, fire protection) for B2B clients; revenue from 400 sites per year across EEG Group (~€200 million group revenue).
2. Facility Management (managed services): New strategic business unit created in 2023 under Director Ronny Smismans; data-driven maintenance and management of EEG-installed building installations for clients, providing recurring revenue.
3. Panel building (hardware): Electrolyse specializes in panel building as one of its core offerings, producing electrical control panels for buildings alongside installation works.
4. Services & Maintenance: Recurring services & maintenance contracts for installed technical systems, including Services & Maintenance as a listed core service offering.

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Electrolyse is the Menen (West Flanders)-based branch of EEG Group that delivers electrical installations and in-house panel building for B2B clients in Belgium. It is part of a multi-technical group (alongside HVAC, sanitary, ventilation, medical gases, fire protection, and Digital Building Solutions) and executes project-based contracting either directly, as subcontractor to general contractors, or via temporary partnerships, serving hospitals, public infrastructure, industrial, commercial and residential care projects.

Product overview

Electrolyse is the Menen-based branch of EEG Group specialized in electrical installations and panel building, and operates as part of a multi-branch platform rather than a standalone single product. The EEG Group portfolio delivered across its branches (Electrolyse, Ler

Differentiator

Problem solved

Functional benefit

Brands

• EEG Digital Building Solutions: Competence center focused on smart building management, digitalization, BIM and data-driven facility management.
• EEG Medical
• EEG Ventilation
• EEG Facility Management
• Beltherm
• Elektro Kamiel Smet
• Leroy
• VTV
• Heyer Benelux

Products and services

• Electrical engineering (Elektrotechniek) Design, installation, integration and maintenance of electrical installations including general power, lighting, data, fire detection, access control, intruder detection, video intercom and medium voltage; the Electrolyse branch specialty.
• Services & Maintenance Ongoing maintenance, service and operational support for installed technical building systems, including predictive adjustments based on energy monitoring data.
• Innovation & Building Management (Innovatie & Gebouwbeheer) Data-driven building management, energy monitoring, and centralization of HVAC, lighting, fire detection and access control on a single platform, delivered via the EEG Digital Building Solutions competence center and available to Electrolyse clients.
• Facility Management Data-driven facility management combining energy monitoring, energy management and predictive maintenance of EEG-installed technical systems to reduce energy use and costs for existing clients.

Quantifiable outcome

• ~€185,000 energy-cost reduction in 2022 at AZ Alma; projected €440,000 savings in 2023 vs 2020 baseline, without additional investment
• +4 more outcomes

Named customers16 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature7 records

Partnerships

19 partnerships are on record, tiered project-level integration partner, specialized healthcare technology vendor, recurring access-control technology partner, strategic platform partner, project-level equipment supplier, project-level design partner, project-level temporary partnership, major project consortium partner, project-level client/general contractor, recurring client/general contractor, strategic sustainability consultant, industry association — ceo karl neyrinck serves as president and methodology owner of co2 performance ladder.

• Zumtobelproject-level integration partnerTechnology or IntegrationZumtobel lighting fixtures (LYNX Life Line) integrated with 25/8 nurse-call system for residential care centres including WZC Dunecluze Koksijde; lighting control coupled to nurse-call signalling in corridors and rooms across multiple floors.
• 25/8specialized healthcare technology vendorTechnology or IntegrationSupplier of the nurse-call system integrated with room access control and lighting control at multiple WZC projects (Dunecluze, De Lichtervelde). Used to link patient/resident emergency signalling, room access and exterior doors on a single platform.
• Nedaprecurring access-control technology partnerTechnology or IntegrationSupplier of access-control systems deployed across multiple EEG projects, including WZC De Lichtervelde (215 units) and AZ Rivierenland Willebroek.
• Schneider Electricstrategic platform partnerStrategic or Co-development PartnerCo-development partner for the Digital Building Solutions platform; centralizes all building controls (heating, cooling, ventilation, lighting, temperature/presence monitoring, CO2 metering) onto a single platform — first fully deployed at TVH Equipment Waregem (round 90 m building).
• Flaktgroupproject-level equipment supplierTechnology or IntegrationSupplier of multiple roof-mounted air-handling units (and a limited basement installation) for the WZC De Lichtervelde ventilation system.
• Climapacproject-level equipment supplierTechnology or IntegrationSupplier of the heat-pump installation used for central heating and sanitary hot water at WZC De Lichtervelde.
• Smappeeproject-level equipment supplierTechnology or IntegrationSupplier of EV Base charging stations installed on the parking of existing building and Dunecluze 2.0 at WZC Dunecluze Koksijde.
• Jadecproject-level integration partnerTechnology or IntegrationPartner for fire, burglary and access-control systems integrated into the Steelforce Antwerp office renovation delivered by Elektro Kamiel Smet.
• Axiomaproject-level design partnerTechnology or IntegrationLighting-design partner for the new 4,000 m² Duponzoo pet-store in Kuurne, alongside Electrolyse's complete electrical engineering.
• VMA Nizet / VMA Druartproject-level temporary partnershipStrategic or Co-development PartnerGeneral contractor in a Temporary Partnership (Tijdelijke Maatschap) with EEG Group for the new CHU Tivoli hospital wing (Building K, 29,400 m², 6 floors) covering electrical, sanitary, ventilation and medical gases.
• Stadsbaderproject-level temporary partnershipStrategic or Co-development PartnerGeneral contractor in a Temporary Partnership with EEG Group for the BlueApp innovation hub at University of Antwerp (2,500 m² of laboratories); EEG delivered electrical installation, HV room, solar, lighting, fire detection, HVAC, sanitary, ventilation, and gas lines/plants for N2, Ar and He.
• Antwerpse Bouwwerken & Valensmajor project consortium partnerStrategic or Co-development PartnerConsortium partners for the near-€100 million transformation of NMBS Gent-Sint-Pieters station; multi-team execution by EEG Gullegem, EEG Sint-Martens-Latem and Beltherm.
• Vandenbusscheproject-level client/general contractorStrategic or Co-development PartnerGeneral contractor for whom Electrolyse executed the electrical scope at WZC Dunecluze Koksijde (subcontractor/onderaanneming).
• Hellebrekersrecurring client/general contractorStrategic or Co-development PartnerPrincipal / general contractor for whom EEG Group executes electrical and sanitary works at swimming-pool and aquatic projects including Vita Krokodiel Middelkerke and Aquatopia Aalst.
• De Tenderproject-level client/general contractorStrategic or Co-development PartnerGeneral contractor for whom Elektro Kamiel Smet (sister branch of Electrolyse) executed the electrical renovation of Steelforce's classified Antwerp office.
• Sustaconstrategic sustainability consultantImplementation/ SI/ Consulting PartnerSustainability consultancy that mapped energy consumption across all parts of EEG Group (offices, production facilities, work sites, vehicles, equipment) and supported the CO2 Performance Ladder Level 3 certification.
• Embuild (formerly Confédération Construction)industry association — ceo karl neyrinck serves as presidentOthersBelgian construction-industry federation; Karl Neyrinck, CEO of EEG Group, was named new President of Embuild (national), reinforcing EEG's industry leadership and influence over Belgian construction policy.
• Techlinkindustry association — ceo karl neyrinck serves as presidentOthersBelgian industry association for technical installers; Karl Neyrinck appointed new President, strengthening EEG's positioning in the technical-installation sector.
• SKAO (Stichting Klimaatvriendelijk Aanbesteden & Ondernemen)methodology owner of co2 performance ladderOthersDutch foundation that developed and owns the CO2 Performance Ladder methodology used by EEG Group to certify and continuously improve its CO2 reduction performance.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Cegelec Belgium (VINCI Energies): Cegelec delivers electrical engineering, instrumentation and multi-technical building installations for industrial, infrastructure and tertiary clients in Belgium. Its electrical-installation and instrumentation scope mirrors Electrolyse's electrical contracting and panel-building focus.
• SPIE Belgium: SPIE is one of the largest multi-technical services groups in Belgium, delivering electrical, HVAC, energy and facility-management services to industrial, healthcare and public-sector clients. It is the most direct competitor to EEG Group's integrated multi-technical offering, including a comparable focus on energy efficiency and FM.
• Fabricom (SPIE): Fabricom, now part of SPIE, is a Belgian multi-technical services provider in electrical, instrumentation, mechanical and process installations for industrial and infrastructure clients. It is a direct comparable to EEG's electrical contracting and panel-building scope, particularly in industrial and energy projects.
• Imtech Belgium (Croonwolter&dros): Imtech Belgium (now operating under Croonwolter&dros) provides electrical, mechanical and building-automation installations for hospitals, data centres, offices and industry. It is a direct peer to EEG in hospital multi-technical projects and in BMS / building automation.

Regional players

• Aertssen Group: Aertssen is a Belgian family-owned group combining civil works, cranes and technical installations for industrial and infrastructure clients. Its technical-installations arm overlaps with EEG's electrical and multi-technical offering, particularly for industrial, petrochemical and large-infrastructure projects.
• Houben Group: Houben is a long-established Belgian multi-technical installer active in electrical, HVAC, sanitary and renewable-energy systems, with a similar family-owned heritage and Belgian regional coverage. It competes with EEG for mid-market commercial, healthcare and public-sector contracts.

Broad incumbents

• ENGIE Solutions Belgium: ENGIE Solutions delivers technical installations, energy services and FM for buildings and infrastructure in Belgium, with strong positioning in healthcare, public and tertiary sectors. It overlaps heavily with EEG's multi-technical and energy-management scope and is one of the largest incumbents in the Belgian tender market.
• VINCI Facilities Belgium: VINCI Facilities operates a Belgian multi-technical building-services and FM platform, with strengths in maintenance, energy optimisation and integrated building management. It is directly comparable to EEG's Facility Management and Digital Building Solutions positioning, even though it sits within a much larger international group.
• Equans Belgium: Equans (the ENGIE technical-services spin-off) is a large pan-European multi-technical and FM provider with a substantial Belgian footprint in electrical, HVAC and facility management. It competes with EEG across hospitals, public infrastructure and energy-efficiency retrofits, but at a much larger scale and with broader international reach.

Emerging players

• Veolia Belgium (Facilities & Building Solutions): Veolia's Belgian Facilities & Building Solutions arm provides energy, technical and multi-site facility management with a strong data-driven efficiency angle. It is an emerging/adjacent competitor to EEG's Digital Building Solutions and Facility Management units, particularly for energy-performance contracts in healthcare and public buildings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedIneeg.be/linkedineeg
• Facebookfacebook.com/electrolyse

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Electrolyse