GUBERNA Hightlights 2024 – Outlook 2025
Jan Suykens: Two important points stand out from the past year. Firstly, the increased complexity of the world confirms more than ever the necessity of an organisation like GUBERNA. Secondly, we have developed a clear strategic plan that further strengthens our relevance to our members.
We’ve also continued to implement our strategic plans. We’ve experienced excellent growth in recent years, which is entirely due to the dedication and expertise of our staff. We continue to focus on strengthening that team, because it’s thanks to them that we can build such solid foundations for the future. I would like to sincerely thank all staff members for this exceptional work.
Sandra Gobert: Without our team’s dedication and professionalism, we wouldn’t be where we are today. They deserve all the praise for their commitment and the excellent work they’ve delivered, both in terms of content and in connecting with our members.
Looking at what we’ve achieved in terms of content this year, the shift towards “less rules, more corporate governance” particularly stands out. We’re seeing a growing awareness of the importance of good governance practices beyond mere compliance. We’ve worked intensively on governance in state-owned companies, with a memorandum and a comparative analysis with the coalition agreement. Many of our recommendations have been adopted, and we’re now discussing this with the cabinet. That too is the achievement of the entire GUBERNA team.
Socially, the importance of checks and balances is becoming increasingly clear. And as we look to the future, we continue not only to promote the importance of good governance, a strong team, and effective collaboration between governance actors, but we also put this into practice in our own organisation every day.
Jan Suykens: My first year has primarily confirmed that there are strong foundations in the organisation. The solid academic basis, research and recommendations that have shaped governance practices in Belgium, the translation into training, advice and exchange. Now as we celebrate our thirtieth anniversary, I see how we are further evolving towards sharing best practices.
Knowledge doesn’t just reside with GUBERNA, but specifically with our members as well. We want to be not only the institute for future directors, but also the environment where experienced directors can find their way with their concerns and need for information. By facilitating this exchange between directors, the institute lives up to its reputation. Our strategic plan for the future builds on this by placing lifelong learning and mutual knowledge sharing at the centre.
Sandra Gobert: We’ve had a very good year. GUBERNA’s governance continues to improve. The moment of succession of the chair is always important, as they naturally makes their own mark. We’ve defined a very clear new strategic plan, which gives the CEO and management a clear mandate. We’re very pleased with Jan’s first year.
Jan Suykens: It’s an evolution in continuity. We continue to build on our strength as a knowledge institute that helps directors invest in good governance. Let me also point out our small organisation of highly motivated employees. Their commitment has once again made a big difference for our members!
Jan Suykens: Particularly in relation to CSRD and sustainability reporting, good governance is often reduced to a check-the-box culture. But if you don’t have the right vision, tools and people, that reporting is meaningless.
We must be careful that the debate isn’t reduced to “Governance is no longer important because the regulator has gone overboard with reporting obligations.”
Sandra Gobert: This fits into a shift we like to see: less hard law, but better application of soft law. Actually, we need to evolve towards more explains and less comply. The 2020 code is comply or explain, but it has become too much comply and too little explain.
In these volatile times, you shouldn’t blindly follow the code, but rather think carefully about what you’re doing and why. The principle of comply or explain only becomes more important in a complex world. We don’t have all the answers. Let organisations adapt gradually and explain why some need more time.
Jan Suykens: Today we live in a world where norms and values are being questioned. Organisations must continue to focus on their long-term objectives: value creation for commercial organisations or social relevance for other entities. You only achieve this through consistency in how you manage your organisation and make decisions.
Sandra Gobert: It’s not just about norms and values, but also about the most optimal way to make decisions. These decision-making processes become even more important in crisis situations, when the right decisions need to be made in a thoughtful way. That’s where good governance is crucial.
On one hand, it’s the norms and values that determine which decisions we make, but also the way we make decisions and the checks and balances involved. Especially in the European context, where less regulation is now being announced, self-regulation and the application of best practices are becoming increasingly important.
Jan Suykens: More than ever, there’s a need to bring members together in an environment where mutual learning is central. That peer-to-peer exchange is crucial. On one hand, we offer a platform for Lifelong Learning, where the basic principles are shared. On the other hand, we provide an active exchange between directors about what works and what they can learn from each other.
Sandra Gobert: That mutual exchange between members is indeed the core of what we do. But there’s a second, absolutely crucial pillar: bringing the right information. During the Covid period, we launched the Experience Sessions, which were extremely popular with our members.
But today, digital has become more difficult due to confidentiality issues. That’s why we’re now thinking about how we can organise this physically, with people from different sectors and with external speakers. The difference between a good and a bad strategic adjustment often lies in having the right information. And for that, you need both the right people and the right knowledge.
Jan Suykens: The role of the director isn’t fundamentally changing, but it is becoming significantly more important. Reputation management is one of the core responsibilities of the board of directors. The biggest challenge lies in the credibility of an organisation towards society.
The board of directors must focus on norms and values on one hand and on long-term relevance on the other.
Sandra Gobert: Indeed, the board of directors as a compass. From an academic-theoretical perspective, the board traditionally has three roles: strategy, monitoring and leadership. In the current context, these three roles are becoming even more important.
When everything is going well, the board can take a bit more distance. Now the board must be much more active, starting with the monitoring and risk role. But the board must be careful not to focus solely on risks. It must also deal with strategy. The mandate of directors is becoming more intense, heavier, with more responsibility, more hours, and more need for information and knowledge.
To truly allow innovation, the governance framework must be flexible enough and open to renewal. But it’s not just about the framework itself, it’s also about the people. For GUBERNA, it’s essential not only to provide the right knowledge, but also to connect people from the field with each other. This way, they can better arm themselves against the challenges that lie ahead.
Sandra Gobert: For 2025, we’re approaching innovative governance from two perspectives. First: how does the governance of innovative companies work? What can we learn from smart companies and how can traditional companies draw inspiration from them?
Additionally, we need to look again at whether we can tinker with the deeply rooted governance principles, to make good governance more innovative.
Jan Suykens: GUBERNA plays this role not only towards companies, but also towards the regulator, which is increasingly European. Through ecoDa, our European umbrella organisation, we also ensure that the legislator moves along.
The role of a board of directors at the level of HR and talent management is crucial in this. As an organisation, you’re only as strong as the people who shape the policy. In a complex world, the question is: do we have the right people to meet the challenges? Boards of directors don’t reflect enough on this today.
Sandra Gobert: GUBERNA’s evolution over the past thirty years reflects the development of governance itself in Belgium and Europe. We’ve grown from an academic initiative as a pioneer to a leading knowledge centre and network organisation with impact on both policy and practice. What distinguishes us is that we not only develop knowledge, but also provide a platform where directors meet and learn from each other.
In these uncertain times, GUBERNA is more than ever a beacon of stability and expertise for directors finding their way in an increasingly complex world. This milestone is not an endpoint, but a moment to look forward. We’re celebrating this with a year-long programme, culminating in the Festival of Governance in November.
This festival will be the meeting place not only to look back at important achievements in governance, but especially to look at the challenges of the future together with experienced directors and our members. We’re highlighting both the pioneers and the new voices.
Jan Suykens: The Festival perfectly illustrates what GUBERNA stands for: knowledge sharing, networking and a focus on the future. The exchange of experiences and expertise between directors is what distinguishes us. The increased complexity of the world confirms more than ever the necessity of an organisation like GUBERNA. With our thirty years of experience and our network of expertise, we are well positioned to continue fulfilling that role. This way, we remain relevant and can continue to play a crucial role in the governance landscape for the next thirty years.
At GUBERNA, we are dedicated to promoting good governance in every organisation because we genuinely believe that better governance leads to better organisations and that better organisations contribute to a better world.
Better Boards, Better Organisations, Better World.
We believe in governance that is built on clear roles, thoughtful decisions, ethics and integrity. It’s about leadership and entrepreneurship, balancing a bold vision with strategic guidance. While legislation, frameworks, and best practices offer guidance, governance should also be flexible to meet the unique challenges of each organisation. There is not one size that fits all.
Good governance is about having the right people, structures and processes that help define a clear purpose. It’s about crafting a sustainable strategy towards this purpose and stimulating entrepreneurship within the appropriate checks & balances. Governance is crucial in society as a means for sustainable value creation.
Different organisations encounter different challenges requiring different solutions. Effective boards collectively agree on the appropriate governance and put their decisions to work. They should be prepared to review and adapt these decisions when the organisation and circumstances evolve. Extraordinary challenging times will require innovative governance solutions. Boards and directors need the adequate knowledge, competencies and tools to be ready. We understand that and we bridge that gap with tailored knowledge, insights and guidance.
We inspire all governance actors by developing one-step-ahead governance expertise in a rapidly changing environment.
All Belgian governance actors will find at GUBERNA the latest evolutions in governance and the new governance frontiers in research.
We provide continuous learning moments for all stakeholders – organisations & people – during their ongoing governance journey.
All Belgian governance actors will find at GUBERNA the go-to place for governance-related education and top-notch assistance.
We unite the largest Belgium governance community for exchanging good governance practices.
All Belgian governance actors will find at GUBERNA the #1 network to exchange knowledge, expertise, experiences and opportunities.
The GUBERNA Board of Directors, gathers four times a year, including an off-site strategic meeting. Mandates are not remunerated. The Nomination & Remuneration Committee closely follows up on future board nominations and gives advice on the remuneration policy of the organisation.
The board can rely on three advisory bodies: the Board of Trustees, the Academic Council, and the GUBERNA Directors Council.
As a governance institute, we ‘walk our talk’: all GUBERNA governance bodies regularly review their composition and functioning. We strive for a balanced board composition in function of our strategy and different target groups. In 2024, our Board of Directors Chair Gaëtan Hannecart, having reached the maximum mandate term, was succeeded by Jan Suykens who has a respectable track record in executive and board positions in different companies. We reinforced our Board of Directors with expertise in family business governance (Griet Aerts) and an academic profile (prof. Alain-Laurent Verbeke). We installed an Audit & Risk Committee.
We yearly consult our Board of Trustees to further fine-tune our long-term vision and the strategic objectives of our organisation. At the October 2024 gathering, Luc Bertrand passed the Chairpersonship to Gaëtan Hannecart. Participants were invited to reflect on important governance trends at the hands of concrete cases that were introduced by the new Knowledge and Research Director prof. Konstantinos Sergakis (AI and cybersecurity, stakeholder engagement, navigating uncertainty).
The GUBERNA Directors Council gathers four times a year under the auspices of Chair Bruno Colmant to reflect on the GUBERNA education offer and the functioning of the GUBERNA (Certified) Directors network. The focus is on enhancing brand recognition, visibility of member return and developing the ambassador role of the GUBERNA (Certified) Directors. In 2024, we launched an open call for the renewal of the Chairpersonship. As from 2025, Pierre-Henri D’haene and Danny Vande Vyver will succeed to prof. dr. Bruno Colmant as co-Chairs of the GUBERNA Directors Council.
GUBERNA is assisted by the Academic Council, functioning as an advisory board, and composed of academics who are active in specific disciplines of governance-related research and teaching in Belgium.
We installed a Sustainability Committee at executive level under auspices of the Secretary General to develop and co-ordinate actions to make GUBERNA a more sustainable organisation.
GUBERNA’s mission is to promote good governance in all organisations. We accomplish this through research, events, and knowledge exchange within our member network, complemented by director training programmes and governance guidance. We have been growing steadily for many years in alignment with our objectives. To continue this growth sustainably and maximise our impact, we have adapted our organisational structure.
Our training and guidance activities related to good governance are now housed within GUBERNA Education & Services BV/SRL. This new entity was established by GUBERNA VZW/ASBL, which remains the sole shareholder. In accordance with the new Article 1.1 of the Belgian Companies and Associations Code, the BV/SRL shares the same purpose: promoting good governance in all organisations. The BV/SRL operates entirely in service of the purpose and activities of its founder, GUBERNA VZW.
We are confident that this organisational structure will enable us to further develop all GUBERNA activities. This ensures we continue to support our members and stakeholders in the best possible way whilst pursuing our purpose: Better Boards, Better Organisations, Better World.
Jan Suykens
Chair Aliaxis
Griet Aerts
Member of the board, Colruyt Group, Board member
Julie Bynens
Secretary General Flanders Chancellery and foreign office
Grégoire Dallemagne
CEO Luminus
Chantal De Vrieze (1)
CEO, Econocom Managed Services
Prof. dr. Marion Debruyne
Dean, Vlerick Business School
Pierre-Henri D’haene
Chief Strategy, Transformation, and Sustainability , Elia
Paul Dujardin (1)
Commissioner for Heritage, Brussels Capital Region
Katrin Geyskens
Partner, Capricorn Partners
Sandra Gobert
GUBERNA, Member of the Board
Leen Gysen
Founder & managing partner, IPARC – International Platform for Art Research and Conservation
Olivier Hamoir
Managing Director, 3F Advisory
Philippe Leroy (2)
CEO, CHU Saint-Pierre
Philippe Masset
Board member, Edmond de Rothschild Europe
Françoise Roels
Executive Director, Secretary General and Group Counsel, Cofinimmo
Brieuc Van Damme
CEO, King Baudouin Foundation
prof.dr. Alain Laurent Verbeke
KU Leuven, Full professor Private Law, Negotiation & Mediation
Luc Bertrand (1)
Chair GUBERNA Board of Trustees, (Observer)
prof. dr. Bruno Colmant (1)
GUBERNA, Vice Chairman Alumni Council (observer)
Gaëtan Hannecart
Chair Board of Trustees (observer)
Danny Vande Vyver
Observer
1These board members or observers are resigning. We sincerely want to thank them for their contribution to GUBERNA.
2The mandate of these board members will be submitted to the General Assembly for renewal.
Subject to approval by the General Member Assembly.
Hans De Cuyper
Ageas, CEO
As we look back on the past year, we are filled with pride about the journey we are taking together, one that is about strengthening our team and deepening our commitment to sustainability.
2024 marked a milestone for our organisation as we successfully moved our headquarters to a modern, dynamic location. Our new office is not just a place to work—it’s a hub for creativity, collaboration and innovation.
In addition, we welcomed an Office Assistant, whose support ensures an organised and vibrant work environment, and a Project Coordinator Digital Innovation, who brings a fresh perspective and expertise to lead our digital initiatives and ensure we stay ahead in an increasingly tech-driven world.
We also took significant steps in taking our responsibility towards sustainability. From reducing our environmental footprint to incorporating sustainable practices into our daily operations, we’ve made considerable efforts to ensure that eco-conscious choices are incorporated in our activities. We are excited to continue building on this momentum and in committing ourselves to sustainability in every aspect of our journey.
Driven by our new strategic cycle we look ahead to the coming year. A key focus will be the substantial strengthening of our teams in the different strategic pillars, with a particular focus on filling well-defined new roles that will play a crucial part in our growth. These additions to the team will help us further enhance our capabilities and create even more meaningful and impactful experiences for our members.
We are eager to embark on this next chapter and look forward to the exciting developments that lie ahead!
“We believe in strong organisations built by empowered people.”
To take ownership and create an environment in which people act across boundaries, both virtual and physical, and have the influence to increase people engagement.
“We value mutual trust and reliability.” & “We strive for transparency, impartiality and inclusion .”
A culture of trust enables but also expects living up to responsibilities. We encourage an honest feedback culture and facilitate exchange and dialog.
“We care about and for each other and we treat each other with respect and kindness.”
Creating a positive and respectful workplace by expressing recognition, respecting each other’s differences, and having empathy.
“We radiate sustainability in all our words and deeds”
We aim at creating an environment in which its team members can thrive.
When people come together as teams and teams transform into an organisation, that is the foundation of a human-oriented company. Therefore, we need every employee to contribute to building this foundation. HR will continue to provide the best support possible to promote people engagement and positive employee experiences in all dimensions of working at GUBERNA.
Read our Sustainability Report to discover more.
When people come together as teams and teams transform into an organisation, that is the foundation of a human-oriented company. Therefore, we need every employee to contribute to building this foundation. HR will continue to provide the best support possible to promote people engagement and positive employee experiences in all dimensions of working at GUBERNA.
Read our Sustainability Report to discover more.
Sandra Gobert
Executive Director GUBERNA – Lead Public & Social Governance
Prof. Dr. Konstantinos Sergakis
Knowledge & Research Director
Gilles Van Lysebeth
Reach & Communication Director
Prof. dr. Saartje Verbeke
Portfolio Director
Sander Berghmans
Researcher
Jade Borreman (1)
Lifelong Learning Officer
Olivier Braet (1)
Senior Research Associate
Vicky Christiaens
Lifelong Learning Associate
Nicolas Coomans (1)
Research Associate
Liesbeth De Ridder
Secretary General & Network Ambassador – Lead Family Business Governance
Filip De Rycke (2)
Content Specialist a.i.
Marijke De Vlaminck
Researcher
Pierrick Degrande
Communication Officer
Rachel Feller
Lifelong Learning Manager
Iris Gantois
Office Assistant
Ewout Görtz
Researcher – Public & Social Governance
Lana Hambrouck
Project Coordinator Digital Innovation
Frank Hoogendijk (2)
Researcher
Arnaud Hubert
Research Associate – Public & SME Governance
Sylvie Hubert
Lifelong Learning Officer
Sabrina Pinxten
Empowering Coordinator
Charlotte Pisane
Management Assistent
Eloy Quiles
Junior Researcher
Roxana Stirbu
Memberships Officer
prof. dr. Regine Slagmulder (1)
Knowledge & Research Director
Svetlana Tvorogova (2)
Senior Researcher
Jan Van Oost
HR Manager
Dries Van Overstraeten (2)
Junior Researcher
Filip Vandeweyer
Lead SME Governance
(1): These team members have left GUBERNA for a new chapter in their professional journey. We sincerely thank them for their valuable contributions to GUBERNA.
(2): We welcomed these team members since the start of 2025 and are looking forward to building our organisation together with them in the future.
Our strategic pillar Knowledge Development is the research and content backbone of the various Centres of Expertise. In 2024 we continued to execute our research agenda, we strengthened the team with a new Research and Knowledge Director and we further developed research-oriented partnerships.
Our strategic pillar Knowledge Development is the research and content backbone of the various Centres of Expertise. In 2024 we continued to execute our research agenda, we strengthened the team with a new Research and Knowledge Director and we further developed research-oriented partnerships.
The 4 pillars of our overarching theme “CAP 2030 – Governance in Transition” have been guiding our content activities since 2022. In 2024, we updated these themes in line with recent trends, such as Innovative Governance and Sustainable Growth, so as to offer cutting edge and up up-to-date insights to our community:
Studying how companies can develop resilience based on an integrated view of strategy, risk, and leadership to cope with complex disruptions and ensure sustainable value creation.
Documenting the current state of affairs on sustainable value creation and identifying leading practices that can help boards advance their organisations to the next level in their sustainability transition.
Gaining a deeper understanding of female succession in family businesses by reviewing the most recent academic insights on the relevant leadership factors
Exploring artificial intelligence (AI) and cyber security from a corporate governance perspective, more specifically the impact of these new technologies on the strategic, monitoring, and leadership role of the board.
In addition, as part of our gatekeeping on Codes and Regulations and our knowledge exchange role, we contributed to the new Code Buysse as well as on the review of the Code for social profit organisation, with the Koning Boudewijn Stichting. We closely followed up on regulation related to corporate governance through our active participation in ecoDa’s governance, its policy work, publications and events. Our work related to Belgian public governance was officially recognised through the corporate governance related mentions in the Flemish government agreement.
Finally, we organised an internal Climate Fresk workshop, enriching our knowledge on global warming, its causes, its impacts; and most importantly, what we can do about it. Being part of our internal Lifelong Learning, this workshop aligned okay with our core value of sustainability and was an eye-opening experience and a great way to reflect on how we can all contribute to a more sustainable future.
GUBERNA presented on 6 March its 9 priorities for the governance of impactful state-owned enterprises. This memorandum should encourage political parties ahead of the 2024 elections to create a professional and transparent framework for the governance of Belgian SOEs. GUBERNA’s involvement in the public governance debate goes back several legislatures and resulted in the implementation of several recommendations on several occasions. If SOEs are to create sustainable value in tomorrow’s society, certain governance challenges require additional attention from the next government.
In 2024, GUBERNA paid significant attention to research and knowledge exchange activities in AI and cybersecurity governance aspects. Starting with a concise practical guide about AI for directors, we focussed on the potential impact of AI on board operations, while examining the three board roles: strategy, monitoring and leadership, described from a specific AI perspective.
Alongside AI board issues, and together with our Cybersecurity Sounding Board Committee, we published a report based upon two exploratory surveys with our community of Belgian directors, focusing on evaluating directors’ perceptions of cybersecurity within their strategic frameworks, their awareness of cybersecurity issues, and their depth of knowledge on the topic. Specifically, we explored how governance maturity can be achieved through various approaches, such as the frequency of cybersecurity discussions on the board’s agenda, the existence of clear incident response plans, well-defined accountability frameworks, and the regular conduct of cybersecurity audits.
The quality of governance in Belgian sports organisations has evolved significantly in recent years. There is an increasing demand from society for transparency and accountability. In addition, government subsidies are increasingly linked to criteria of good governance. Being at the forefront of normative developments, and alongside fruitful community building activities with sports federations and sponsors, we introduced a charter for sports sponsorship. The charter focusses on developing the dynamic relationship between sponsor and federation and the mutual nature of a number of commitments.
Publishing its latest edition of the remuneration study (FR) (NL) of non-executive directors in Belgian non-listed companies, in collaboration with Hudson, part of Randstad, and in which 186 companies from 26 sectors were surveyed, GUBERNA shows, among other things, that more than 40% of companies believe that they pay less to directors than their peers, and a majority indicate that they pay less than foreign companies.
Social profit organisations are undergoing major changes by increasingly adopting market logic and practices. This so-called hybridisation brings both opportunities and challenges. In addition, social profit organisations are confronted with increasing complexity, professionalisation of management and new regulations. In this study, GUBERNA explores these issues in the context of remuneration, offering insights for the recruitment and retention of board members as well as for the future of their governance.
Please find here a highlight of our publications and articles of 2024. For the complete overview we refer to our website.
Given its critical importance for companies, cybersecurity was analysed via various angles with the collaboration of GUBERNA’s Sounding Board Committee on Cybersecurity. GUBERNA called for an informed and proactive approach to integrating cybersecurity into the governance framework as a strategic imperative. Additionally, it provided a guide to boards about the discussions they should regularly hold on cybersecurity matters. Lastly, ransomware is a board-level responsibility. Directors need to take the ransomware threat seriously and play an oversight role in implementing proactive and reactive countermeasures. Directors should ensure it is on the enterprise risk agenda. GUBERNA offered a checklist for directors to challenge the ransomware risk and a ransomware playbook
The Imperative of Cybersecurity in the Boardroom: Navigating the Zone of Sustainability >>>
The seven questions any director should ask about cybersecurity regularly >>>
Diversity, Equity and Inclusion continue to occupy the public debate in Europe and internationally. Companies are compelled to take proactive measures to prevent and address issues related to company culture, harassment, and discrimination. In the context of their new partnership, A&O Shearman and GUBERNA teamed up to address key topics for listed company board members, with a focus on crucial DEI issues, along with practical advice for directors and executives. In parallel, GUBERNA collaborated with Emmanuelle Verhagen, Senior Partner at DUIN.partners, to examine the fact that companies find it hard to integrate diversity because it requires a mindset shift towards inclusion. It is thus advisable to encourage inclusion, equity and belonging alongside diversity. The key to moving towards higher inclusion and integrating diversity is the modelling of desired behaviour, attitudes and mindsets by leadership. Hence the role of the board and their executive officers.
After months of tough negotiations, the “Corporate Sustainability Due Diligence Directive” came into force in 2024. Under this new EU law, large companies will have to ensure respect for the environment, human rights and good governance, not only in their own operations, but also in their supply chain. In this article, we provide an overview of the new rules and their potential implications for boards. With the renewed docus on the EU simplification package, this (and other) piece of EU legislation will undoubtedly continue to be topical for companies. In parallel, together with our partner BDO, we alerted unlisted SMEs, which do not fall under the CSRD, to three ways in which the Directive can impact their governance: this will be the case if they fall within the value chain of a reporting company, when their financing is of interest to CSRD aligned investors and if they voluntarily report on the CSRD for strategic impact purposes.
The impact of the European CSRD reporting obligation on SMEs.
Although originating in the United States, shareholder activism has now established itself in Europe. GUBERNA delved into the complexities of shareholder activism and examined how it evolved in 2024 in terms of intensity, objectives and methods. It also focused on governance practices that boards employ (and can implement) to best manage activist shareholder requests. Our analysis also shows that its scale remains limited in Belgium, despite some high-profile headline-grabbing episodes.
GUBERNA and Hudson Belgium have established a fruitful collaboration for the exchange of experience and “best practices” as well as the sharing of knowledge (studies) on ‘remuneration’ and ‘leadership’. Hudson Belgium and GUBERNA also publish (benchmark) studies and jointly organise knowledge exchange activities.
GUBERNA and Delaware have established a fruitful collaboration on the theme “Governance & digital transformation”, which investigates how digital transformation can strengthen the functioning and decision-making of the various governance bodies. Special attention is paid to sustainable and ethical leadership.
In 2024, we testified another year of significant market, policy and legal developments at the European level: alongside the entry into force of the CSRD and the negotiations on the CSDDD, the Draghi report as well as the European Commission’s simplification package set a highly critical agenda for 2025. At GUBERNA, we closely monitor these changes and actively keep our members informed about the latest updates.
GUBERNA had the privilege to contribute to the 2024 European Corporate Governance Conference on ‘Good Governance and Sustainability: An Aligned Path’. The conference, hosted by EY in partnership with Accountancy Europe, BusinessEurope, ecoDa, EuropeanIssuers, GUBERNA, and VBO-FEB, convened on the 20th of March under the auspices of the Belgian Presidency of the Council of the EU. Coinciding with the renewed agreement on the CS3D, the conference focused on good governance and sustainability. Embracing the imperative of sustainability, discussions centred on the benefits and challenges to integrate sustainability, as well as integrating strong risk management and internal controls into business strategies. GUBERNA was well-represented in the programme with our executive director Sandra Gobert, Board of Trustees Chair Luc Bertrand and some of our members taking the stage.
During our “Listed Company Day” on November 6, 2024, participants had the opportunity to discuss ‘Governance in the Cyber Age – Risks and Opportunities’, with a series of interactive sessions exploring how to properly protect companies from cyberthreats while allowing them to embrace potential opportunities, the impact of the NIS2 Directive as well as the board’s responsibilities and liabilities with respect to cybersecurity.
Furthermore, our European engagement is reflected in our active participation in ecoDa, the European Confederation of Directors’ Associations. GUBERNA is involved in several ecoDa bodies, including the Board, the Advocacy Committee, and the Education Committee. We also chair ecoDa’s Working Group on Sustainability, which maps national initiatives and best practices, linking them to EU policy discussions.
Among other activities, ecoDa issued a Position Statement on boards’ evaluation and rotation of the external facilitators, reacting to the three draft EFRAG ESRS IG documents (EFRAG IG 1 to 3), issuing a Manifesto for the 2024-2029 political cycle. ecoDa also reacted to the methodology for implementing the revised G20/OECD Principles of CG and responsed to the consultation on draft CEAOB nonbinding guidelines on limited assurance on sustainability reporting. Additionally, ecoDa issued a Joint trade association statement on clarifying EU due diligence.
Regarding notable publications, to which GUBERNA contributed, ecoDa and WTW conducted a survey on 2023 Non-Executive Director Remuneration in Europe, issued a Cybersecurity Risk Handbook (Principles and Toolkit) with ISA (Internet Security Alliance), a Barometer of Gender Diversity in Governing Bodies in Europe (with Ethics and Boards Board Performance Evaluation Guidelines – GNDI).
On the education front, ecoDa organised a variety of workshops and webinars, as well as a new edition of the European Board Diploma, a prestigious program tailored for European board members.
Lifelong learning is a key instrument in the realisation of GUBERNA’s mission. Continuous education is essential for every director’s knowledge and viewpoint on governance and decision-making. GUBERNA supports the development of knowledge for a more professional governance, enables the exchange of experiences and best practices, and creates awareness among all governance actors. GUBERNA assists organisations with the implementation of effective governance through our made-to-measure governance assistance.
GUBERNA Directors
983
GUBERNA Certifications
1533
GUBERNA Certified Directors
139
Online Learning Platform
Participants
408
Governance Assistance Learning Moments
127
Open & certifying programmes
Participants
322
Learning Moments
376
New GUBERNA Certified Directors
14
Thematic Programmes
Participants
169
Learning Moments
64
We organise a broad portfolio of education programmes, tailor-made courses and thematic seminars, with a focus on ethical behaviour-driven content and a constantly renewed didactic approach. In all our training offers, we stay close to our core research domain of corporate governance. We investigate how corporate governance has evolved and how it changes through external and internal drivers. In our tailor-made incompany training programmes, we focus on applied governance, taking into account the context and situation of the company.
We reach a broad audience by summarising the governance essentials in practical and concise tools, digitally accessible with a low threshold.
The impact of the sustainability transition runs through our training portfolio, as we identify this as one of the most important evolutions of the 21st century.
Launch Director Effectiveness English
We organised Director Effectiveness this year twice in French and Dutch, and for the very first time we launched an English version of this programme. We used our in-house experience to develop a legal session in English, and were joined by AMS academics and partner experts for developing the other sessions. The English edition of Director Effectiveness took place at Antwerp Management School, expanding our learning locations including Vlerick Business School and Cercle Du Lac.
Board Effectiveness
We organised Board Effectiveness twice a year in French and in Dutch, and we received over 40 papers from the participants wishing to be certified. In these papers, our candidates GUBERNA Certified Directors described and analysed the governance of a selected organisation. This way, they contribute to our mission of spreading good governance and creating awareness of governance in all types of organisations.
Board Simulation
This training programme is unique in our offer. For two days, a dozen participants act as independent directors of a fictional organisation and take part in several meetings of the board and its committees, guided by experienced directors. In 2024, we conducted three editions, one in Dutch and two in French. We launched an updated version, with new actors and a fictitious company that is trying to grow in today’s volatile circumstances. We worked together with the French Institute of governance (IFA).
This programme is organised with the support of iBabs, the Euronext Board Portal Software.
During the course ‘Director Effectiveness’ I gained new perspectives on legal aspects and governance dynamics, as well as refreshing updates on strategy and finance.
The many discussions and interactions with other participants helped assimilate the knowledge in a fun and interactive way.
The course provided better insight into how we can improve our Solventure governance.
It also gave me new perspectives on my blind spots and how I can develop as a CEO, board member, and chairperson.
Bram De Smet
CEO , Solventure
We organised our fifth GUBERNA Summer School on the topic of “Robustness, is it a third way to build sustainable organisations? ”. We welcomed Prof. Dr. Olivier Hamant; therenowned director of research at the Ecole Normale Supérieure Lyon (INRAE). Hechallenged us to fundamentally rethink our approach to build more robust companies in times of fluctuations and growing uncertainty,.We then discussed this issue pragmatically with a selection of high-level Belgian directors. Inviting us to look at the transformation of robust ecosystems to get inspired for the necessary transformation of business models, provided food for thought for our GUBERNA Directors and Certified Directors. The training gave them the opportunity to update their governance knowledge and also to keep their title valid.
We organised our training on sustainability in the board “A governance roadmap to sustainable value creation” in the spring. This two day-programme investigates how the roles of the board are redefined as a consequence of the sustainability transition.
Together with IBR-IRE, we relaunched our programme “Het auditcomité ”. We focused on the essentials of audit committee functioning, but also on cyber security and sustainability reporting.
In 2024 we gave guest lectures at ICHEC Formation Continue – Executive Master in Finance programme and at UCLouvain – Master Entrepreneurship programme (INEO).
In 2024, we had a portfolio of five online programmes to complement our certification programmes and to keep our GUBERNA Directors and Certified Directors up to date on recent developments in corporate governance.
Together with our Centres of Expertise we offer high-level incompany incompany trainings on a number of topics. We brought several trainings on governance and sustainable value creation in boards of organisations. Our incompany trainings are tailor-made and answer to specific questions of our members. We take into account the context and the environment in which the company and the board operates, leading to very practical and effective take-aways to take their governance one step further.
Our information efforts go beyond our education programmes. Team members are regularly invited to speak on governance related topics and we regularly give interviews to newspapers and magazines. Additionally, we keep our members informed on recent developments of corporate governance in our publications and newsletters.
EcoDa also conducted two editions of the “European Board Diploma”, and a limited third edition, which has a broader European focus and is a great extra to our certification and thematic programmes.
Having developed its own unique methodology to assess boards, GUBERNA offers tailor-made support in the evaluation exercise of boards of directors. This methodology is based on academic research and the vision of experienced field experts. More and more organisations rely on GUBERNA for the evaluation of their board and take advantage of the recommendations to enhance its added value. We offer board evaluations with written surveys as well as interview-based.
Every board of directors is unique and has its own challenges and strengths. We responded to multiple questions about specific governance challenges. Such as: “How to find the optimal functioning of the general assembly?” “How to implement a competency matrix?” “How to find independent directors?” We offered tailor-made solutions for our members, taking into account their input and their contexts.
It goes without saying that all work deserves to be remunerated. However, determining the correct and fair remuneration of non-executive directors is not an easy task. GUBERNA’s remuneration benchmarking assistance is designed to support organisations in developing an adequate and fair remuneration policy for non-executive directors, aligned to the specificities of the organisation.
GUBERNA assists organisations with the review of their governance charter, internal rules, codes of conduct, etc. On demand, we can also help with (re)defining appropriate governance structures.
The GUBERNA Board Self Evaluation Tool allows the board to reflect on its functioning. The results identify concrete action points to improve the board’s effectiveness. Creating awareness and stimulating a board evaluation is a first step in the continuous improvement that is necessary for every individual director and board group. The tool relies on the academic based GUBERNA Board Evaluation Methodology, but in an easy accessible and automated format. Several companies made use of the tool and received tailor-made guidance on possible action points emerging from the results.
In 2024, our network welcomed numerous individual and corporate members across all categories. The GUBERNA Directors Council, under new leadership, continues to drive engagement through various initiatives including the popular Directors Sparkle series and specialised Sounding Board Committees around different themes. Our events calendar featured high-profile gatherings like the New Year Event with Euronext, the National Member forum and the European Corporate Governance Conference. In combination with specialised events by our Centres of Expertise, these events create valuable opportunities for knowledge exchange. The relocation of our Home of Governance to the Tour & Taxis site marked a significant milestone, providing a more sustainable and accessible hub for our community. With over 13,000 social media followers and an active online platform, GUBERNA continues to strengthen connections among directors and governance actors while looking forward to celebrating our 30th anniversary in 2025.
GUBERNA brings together a robust network spanning both individual directors and corporate entities. Central to our mission is creating platforms for meaningful experience sharing among our membership and the wider governance ecosystem.
We welcomed many new individual members again in 2024, with particularly encouraging growth in our Young GUBERNA programme, indicating healthy renewal within the governance community.
Our organisational membership also expanded significantly across all categories—Collective, Institutional, SME, and Social Profit Members—with many new corporate and premium corporate members joining our ranks. Several of these organisations promptly utilised their member benefits, accessing our board evaluation services and customised incompany training programmes at preferential rates.
We are delighted to have a vibrant and dynamic community of GUBERNA Members, Directors, and Certified Directors who actively organise events centred around individual directorship.
With 176 participants successfully earning certificates in 2024, we now have a total of 1.533 certificates earned.. Presently, our community boasts 983 GUBERNA Directors, meaning members who have followed one or more education programmes. Thereof, 139 are GUBERNA Certified Directors. These individuals are esteemed members of GUBERNA, having completed the full certification programme and pledged to ongoing professional development.
Our sincere thanks go to every GUBERNA (Certified) Director who was committed to strengthening our network by organising and participating in various gatherings and activities in 2024.
GUBERNA Directors Council
In 2024 two new co-chairs took the helm of the GUBERNA Directors Council. GUBERNA expresses sincere thanks to Prof. dr. Bruno Colmant for his dedication to the purpose and working of the Council as he passes the torch to Danny VandeVyver and Pierre-Henri D’haene.
The GUBERNA Directors Council unites GUBERNA Members who have participated in our education programmes throughout the years. The Council gathers 5 times a year, discussing various activities as described below and contributing to the further development of our members network and education programmes. It serves as an advisory organ to the GUBERNA Board of Directors, echoing new ideas to strengthen the sense of belonging to the GUBERNA community. New GUBERNA (Certified) Directors join the Directors Council every year, while receiving valuable support from experienced Council members and the entire GUBERNA team. This constructive interaction makes the Directors Council one of the most dynamic bodies within GUBERNA.
GUBERNA Directors Sparkle
In 2024, the successful GUBERNA Directors Sparkle formula persisted with 4 new interviews conducted by GUBERNA (Certified) Directors featuring their peers. This series empowers members to inspire one another through the exchange of experiences and best practices in governance. The topics and insights discussed are closely aligned with and inspired by GUBERNA’s research themes. In 2024 we continued the interview format as a combination of video and podcast published on various channels: the GUBERNA website, our Governance Insights monthly newsletter, our Youtube channel, and our podcast channels.
GUBERNA Sounding Board Committees
Originating from the GUBERNA Directors Council, these working groups unite GUBERNA (Certified) Directors and peers who are connected by their interests and passion for similar themes related to good corporate governance. The current GUBERNA Sounding Board Committees are centred around:
Various activities were initiated by these committees in 2024, who receive ongoing support from GUBERNA’s various centres of expertise. Many articles originated from these committees and they inspired content for various events, for example an SME event about Cybersecurity.
In 2025 their activities will continue strong with several interactive events for the broader community being planned. Motivated by the success of the formula, more Sounding Board Committees will be installed in the future.
2024 brought meaningful opportunities for knowledge sharing among our community of directors. The New Year Event with Euronext gathered over 500 participants, facilitating valuable networking and discussion on Sustainable Governance. Members engaged actively at the General Members Assembly, where the AI-focused keynote prompted inspiration on technology’s impact on governance. We had the honour to co-organise the European Corporate Governance Conference on Good Governance & Sustainability with EY and ecoDa amongst others. The National Member Forum created a collegial atmosphere for our members to exchange perspectives on social governance challenges, while the GUBERNA Directors Day’s “What if” scenarios encouraged board members to make impactful decisions in tough times. Throughout the year, our Centres of Expertise hosted focused events where members benefited from sharing experiences with peers facing similar challenges. For example the Public Governance Day, Hospital Governance Forum and Listed Company Day uplifted their reputation once again. These gatherings reflect our community’s continued strength as a respected forum where directors can exchange expertise and learn from one another in a professional environment.
New Year Event
Accelerating the energy shift
16-01-24
In partnership with 
GUBERNA General Member Assembly
Board perspectives in the era of AI risks and
25-04-24
GUBERNA Director’s Day
What if…? Making impactful board decisions in tough times
24-09-24
Supported by 
Listed Company Day
Governing Sustainable Value Chains: A Corporate Governance Approach to Due Diligence
06-11-24
In collaboration with 
Family Business Award of Excellence
26-03-24
Organised by 
GUBERNA National Member Forum
Acting on the S in ESG
06-06-24
Supported by 
& 
GUBERNA Board of Trustees
22-10-24
GUBERNA Hospital Governance Forum
27-11-24
Supported by 
New Year Event
Accelerating the energy shift
16-01-24
In partnership with
Family Business Award of Excellence
26-03-24
Organised by
GUBERNA General Member Assembly
Board perspectives in the era of AI risks and
25-04-24
GUBERNA National Member Forum
Acting on the S in ESG
06-06-24
Supported by &
GUBERNA Director’s Day
What if…? Making impactful board decisions in tough times
24-09-24
Supported by
GUBERNA Board of Trustees
22-10-24
Listed Company Day
Governing Sustainable Value Chains: A Corporate Governance Approach to Due Diligence
06-11-24
In collaboration with
GUBERNA Hospital Governance Forum
27-11-24
Supported by
Many organisations have completed their board with candidates from our vast network of directors, many of whom followed training programmes at GUBERNA or have obtained the GUBERNA Certified Director title. We publish board vacancies free of charge to our network. This service is available to all types of organisations, both members and non-members of GUBERNA. If you are a member yourself, you’ll have access to our online community where you can search for the right candidates who are open for mandates based on experience, expertise and more.
In 2024 we helped 30 organisations publish a total of 50 mandates in our network.
Contact us for more details on boardmandates@guberna.be.
The vacancies we receive are shared exclusively with our members. This service is a unique benefit for our members. Log in on our website to consult the available board mandates.
If you did not yet activate your member log in (which gives you access to your member benefits and the online community), contact us and we will send you your activation link.
As part of our mission to promote good governance, we gladly answer your governance questions and provide you with detailed governance guidelines. Contact us via firstaid@guberna.be.
In June 2024, GUBERNA took an important step forward with the relocation of our Home of Governance to the vibrant Tour & Taxis site in Brussels. This strategic move was carefully considered to better enable exchange within our GUBERNA Community while providing an optimal workspace for our team, aligned with our core values of Sustainability and Caring.
The Tour & Taxis location has proven to be an excellent choice. As a thriving 5-minute neighbourhood with sustainability at its core, it offers our members and team a wide range of facilities and conveniences. Throughout the year, we’ve witnessed how this environment has enhanced our ability to serve the GUBERNA community and foster meaningful governance discussions.
Our team has been delighted to welcome members and visitors to our new office at Tour & Taxis’ Royal Depot, located at Havenlaan 86c, bus 318, 1000 Brussel – Avenue du Port 86c, boîte 318, 1000 Bruxelles.
The relocation has successfully created a more accessible and sustainable home for our governance activities, fulfilling our vision for a futureproof GUBERNA Home of Governance.
For corporate members we have a free meeting room available upon reservation.
Our GUBERNA Home of Governance is open Monday – Thursday from 09.00- 17.00 after reservation via info@guberna.be.
The GUBERNA Good Governance Platform is the place where our members connect digitally. Members can find each other based on their interests, experience, expertise and (Certified) Director title. With the majority of our members actively using this online community it is a vibrant place to connect and exchange. Furthermore, the platform allows access to open board mandates, member exclusive content and events. We will accelerate the launch of exciting new features for our online community in 2025.
In addition to our own platform, we have an active social media community with over 13.000 total followers and a high interaction rate on our LinkedIn page of over 10%.
For sustainable value creation and growth, governance must be flexible and adapt to the distinctive traits of each organisation. It’s crucial to recognize that there’s no universal governance matrix; governance needs to reflect first and foremost the organisation’s size, structure, and stage of development, evolving as it matures. Our approach emphasizes the importance of meaningful impact over a formalistic compliance approach when applying governance practices.
Every organisation faces distinct challenges depending on its scale, ownership model, and level of maturity. As such, governance should be tailored to these specific needs, particularly in environments that demand agility. We continue to prioritize understanding the unique circumstances of each governance framework.
Our Centres of Expertise combine academic research with practical experience drawn from our vast network and our fruitful interaction with our members and alumni; a distinctive example is the fruitful collaboration with our Sounding Board Committees. This holistic view of governance allows us to continually refine and develop tools and practices that support businesses, social organisations, and public services in achieving sustainable and effective governance.
In 2024, the GUBERNA Centre for Family Business Governance and its partners EY, BNPPF, FBN, Mediafin and new partner WorxInvest co-hosted the 10th jubilee edition of the Family Business Award of Excellence®. At the Award Ceremony on 26 March 2024, the theme of the evening was ‘Next gen’s in family businesses’. VPK Packaging was elected as the new Belgian Ambassador of the Family Business Award of Excellence. The other finalists were Sioen and Ziegler.
Regarding knowledge development, GUBERNA gave substantial input to the redaction committee of the new Code Buysse IV for non-listed companies composed by initiator prof. Jozef lievens, Laura Lannoo and Sofie Lerut. GUBERNA was involved as a panel member at the launch event together with Frank Buysse, Philippe de Vicq, prof. Wim Voordekkers (UHasselt) and Sofie Lerut. We conducted a study on the remuneration of board members in non-listed companies in collaboration with of our overarching Research Partner Hudson.
We published three articles ot the following topics: “The next gen journey in family businesses”, “The added value of family members in the board” and an update on the new Code Buysse IV.
As part of our communication plan and the creation of an eco-system of family business experts, we invited different external colleague experts (a.o. prof.dr. Anneleen Michiels, UHasselt and prof.dr. Raphaëlle Mattart (HEC Liège) and phd students to share their study work and insights in the family business section in our newsletter.
Lastly, we provided many tailored services to our family business corporate members. For different renown shareholder families, we organised incompany trainings on corporate governance and family governance for next gen / now gen. We also accompanied a family charter development trajectory an in-depth board evaluation for a larger family business.
“The collaboration with GUBERNA in editing the Buysse Code IV was a pleasant, constructive, and fruitful process, underpinned by a shared commitment to good governance. Thanks to their input, the text was improved, refined, and enriched. But their role goes beyond that: as a proponent and key ambassador of the Buysse Code, they help ensure that it is not only widely disseminated but also comes to life. We are particularly grateful to GUBERNA for their dedication and enthusiasm. Together, we will ensure that the principles of the Buysse Code can have their full impact in practice.”
Laura Lannoo
Redaction Team, Code Buysse IV
For listed companies, 2024 was still marked by economic uncertainty, increasing regulatory pressure and strong demands for ESG measures and information. At the close of the year, a renewed focus on competitiveness, growth and simplification of applicable legal frameworks (e.g. Omnibus regulation) have set a new agenda for 2025.
In this context, the GUBERNA Centre for Listed Companies is committed to helping companies find the right balance between compliance and purpose-driven value creation.
We published our study on shareholder activism, which provides insight into the way Belgian listed companies can prepare for and tackle shareholder activist campaigns. We also published an article on the CRSD, exploring the critical importance of sustainability reporting and its intrinsic link to the three important roles (oversight, strategic, leadership) of the board. Our listed company members also gained insights and concrete governance recommendations from an article on company culture and DEI, authored in collaboration with A&O Shearman. Our members will also find inspiration and good practices for their own AI and cybersecurity trajectory in the various studies and articles written in collaboration with GUBERNA’s Sounding Board Committee on Cybersecurity.
The Centre for Listed Companies also engaged in the public policy debate and to policy making at EU level, through our participation to ecoDa’s advocacy committee. Diverse articles informed our members about the most important policy and regulatory updates.
Our traditional Listed Company Day took place on 6 November 2024 and was jointly organised by GUBERNA and VBO-FEB, in partnership with EY and A&O Shearman. It addressed the risks and opportunities regarding governance in the cyber age. Participants had the opportunity to explore methods that organisations can implement to raise cybercrime awareness throughout their structure and to educate board members on cybersecurity issues and obligations.
Seminars, Roundtables & workshops on sustainability reporting (jointly with A&O Shearman, EY and EFRAG), AI (with A&O Shearman and Delaware), company culture & DEI (with A&O Shearman), were also organised for our listed members. The Secretary General Masterclass on 7 March 2024 marked the inaugural activity of the GUBERNA Secretary General Platform. This platform aims to address the shared need to exchange experiences and insights among Secretary Generals.
Finally, we performed tailor-made evaluations of the board of directors for our listed members.
2024 was an important year for the Centre Public Governance of GUBERNA. Elections took pace and new governments were formed. Both having an impact on the governance of state owned enterprises (SOE’s). We also welcomed Eubelius as our new research partner.
In the run up to the elections we published our memorandum: ‘9 priorities for governance of impactful state-owned enterprises’. The memorandum was presented during our yearly event public governance.
During our Home of Governance Talk with Béatrice de Mahieu, CEO of BeCode and board member of Proximus shared her experiences with regard to the role of the board in innovation and technology.
Together with its research partner Eubelius, the Centre Public Governance organised its first masterclass public governance entitled ‘The public director in a changing world’. A full day dedicated to the governance of SOE’s and the unique challenges they face.
We published an article on the OECD revised guidelines for the governance of SOE’s as well as on mechanisms against dysfunctional government influence in SOE’s.
In our public governance update, we reported on key public governance topics..
Lastly, we of course supported our members and public authorities with tailor-made services such as incompany trainings, board evaluations and customised governance studies. We will continue to do so in 2025 and would like to thank our members for their support!
Within their partnership, Eubelius and GUBERNA combine their unique expertise and jointly launch initiatives to promote good governance among boards and directors of State owned enterprises and other government entities.
“We at Eubelius are very pleased to support the Centre for Public Governance at GUBERNA through this partnership. The public sector is very close to our heart as a firm. Together with Guberna, we hope to provide the relevant actors and stakeholders with additional tools to address the complex challenges surrounding public governance.”
Jeroen Delvoie
Partner and head of practice group State-owned enterprises, Eubelius
Throughout 2024, our Centre of Expertise for SME Governance made significant strides in supporting small and medium enterprises with their governance needs. Here’s a look at our key achievements:
Knowledge sharing & thought leadership
We partnered with BDO to publish an insightful series of articles exploring the unique characteristics and advantages of corporate governance for SMEs. These practical resources provided actionable guidance for business owners navigating governance challenges.
Our new multimedia series on YouTube and Spotify brought real governance experiences to life through engaging interviews with SME leaders. These authentic stories resonated strongly with our audience, offering peer-to-peer learning opportunities.
Our thought leadership extended to mainstream business media, with featured articles in both De Tijd and Trends magazines, significantly raising awareness about SME governance best practices.
Interactive events & collaborations
We hosted two well-attended inspiration sessions focused on “Corporate Governance as a Leverage for External Financing.” These collaborative events with BDO, PMV (Dutch session), and hub.brussels (French session) provided practical insights for SMEs seeking growth capital.
The Sounding Board Committee for SMEs organized a timely event addressing “Good Governance and Cybersecurity for SMEs,” helping business leaders understand this critical risk area.
Industry recognition & expertise
We proudly served as jury members for prestigious awards including Markant’s Womed Award 2024 and De Bestuurder’s “Bestuur van het jaar” competition, which was won by Technopolis. These opportunities allowed us to spotlight exceptional governance stories within the SME community.
Our governance expertise was further recognized when our colleague Liesbeth De Ridder was invited to participate in a panel discussion for the launch of Code Buysse IV – an essential governance guideline that GUBERNA has supported since its inception.
“Good governance is governance that innovates, evolves, and adapts to serve the strategic interests and objectives of its organisation in service of humanity and the world.”
Romain Dufrasne
CEO, Ecosteryl
In 2024 GUBERNA’s Centre Social Governance launched its sport sponsoring charter for sport federations. Based on the principles of good governance, the charter aims to open doors and create opportunities that enrich the sponsoring relationship.
In addition we continued our initiatives with regard to hospital governance. The Home of Governance Talk with Cristoph Lemmens discussed the insights of his book on hospital networks. Our study on success and failure of Belgian hospital networks outlines different incentives and ways to remove obstacles to encourage collaboration between hospitals. During the 7th edition of our Hospital Governance Forum we discussed the governance implications of hospital mergers.
Furthermore, the Centre Social Governance played a pivotal role in the organisation of our annual National Member Forum. Under the topic ‘the S in ESG’, we discussed a sometimes overlooked dimension of any successful ESG strategy.
Lastly, we supported our members with tailor-made services such as governance trajectories, in-company trainings, and board evaluations. We will continue to do so in 2025 and would like to thank our social profit members for their trust and support!
The Centre Financial Sector Governance supports institutes in the financial and insurance sector with services and tailor-made communication. For our education programs, we work closely together with our befriended organisation Febelfin Academy. Together, we organised our yearly program “Board of Directors in the financial sector” and our Masterclass bringing new trends to the attention of directors in the financial and insurance sector. In 2024 we provided tailor-made services to several international financial and insurance institutions, going from governance roadmaps to full-fledged board evaluations. We saw a rising demand on regulation-related topics, such as ESG reporting and rights and duties of directors.
“The financial sector plays a crucial role in our society. To succeed in this, a well-functioning board of directors is essential. With the co-branded executive program ‘Board of Directors in the Financial sector’, Guberna and Febelfin Academy have successfully combined their strengths and jointly aim to support board members in ensuring inclusive and sustainable growth.”
Ann Vanlommel
CEO, Febelfin Academy
As we enter 2025, GUBERNA is poised to reinforce our leadership in corporate governance through strategic initiatives across multiple domains. Our commitment remains unwavering: to be the premier network for directors, driving knowledge, learning, and professional exchange.
In 2025, our Knowledge Development strategy will be anchored by the overarching theme of ‘innovative governance’. We will continue to push the boundaries of governance research, with focused studies exploring emerging trends in corporate leadership. Our strategic pillar of Knowledge Development will delve into critical topics like Board Dynamics, Technology & Innovation, and pioneering governance practices that challenge traditional paradigms.
The launch of our Governance Academy marks a significant milestone in 2025. We’re introducing comprehensive programmes designed to equip directors with forward-thinking skills, including specialised masterclasses and an exciting new international programme exploring innovative governance perspectives. Recognising the transformative power of emerging technologies, we’re expanding our thematic education programmes. Our “AI for Boards” programme, developed with the Data Protection Institute, is just one example of how we’re helping directors navigate complex technological landscapes and understand their strategic implications.
Our mission remains to foster a vibrant, dynamic network for directors. We’ll continuously enhance our digital ecosystem, launching innovative features in our Good Governance Platform & Community to create more meaningful connections and streamline knowledge sharing. Our new Home of Governance will serve as a welcoming hub, designed to facilitate deeper interactions and collaborative opportunities. As we celebrate 30 years of GUBERNA, we’re committed to building stronger, more engaging platforms that empower our members to connect, learn, and grow together.
Our 2025 strategy encompasses a holistic approach to governance across diverse sectors. From deep-dive research studies to targeted governance insights, we’re committed to delivering comprehensive knowledge across family businesses, listed companies, public sector organisations, SMEs, social profit organisations, and the financial sector. Our research will explore innovative governance as a means to sustainable value creation on critical themes such as technology & innovation, board dynamics, resilience and regulation.
We’ll achieve this through a comprehensive range of governance assistance and guidance, including board evaluations, incompany training, governance trajectories, and benchmarking exercises. Our approach combines academic rigour with practical insights, ensuring our members receive cutting-edge guidance that addresses the unique challenges of their specific organisational contexts.
From interactive masterclasses to AI governance, from family business dynamics to public sector insights, we’re dedicated to providing nuanced, forward-thinking support that empowers directors to lead with confidence and strategic vision.
Join us in 2025 as we continue to elevate governance standards and empower directors to lead with vision and integrity.
GUBERNA, the Belgian Institute of Directors, has a long history as frontrunner and reference on the ‘G’ of ESG. During the visionary sessions with the Board of Directors in June 2019, the mission of GUBERNA became outcome-oriented, and its purpose linked to sustainable value creation.
Better Boards,
Better Organisations,
Better World.
In 2023 based on the principle of leading by example, our team engaged on a journey to translate these principles within our own organisation. Starting with the revision of our articles of association, we want to ensure that our commitment to ESG is not just rhetoric but ingrained in our very foundation. The ownership of this process lies with GUBERNA’s Sustainability Committee that was founded at the start of 2024 and comprises GUBERNA team members from different backgrounds.
At the start of 2024 we launched an internal consultation to preliminary identify, classify, and prioritise the topics where GUBERNA has a potential impact or exposure related to sustainability in its broadest meaning. The results of this preliminary double materiality assessment were reflected in the GUBERNA Annual Report 2023 and in the matrix below.
Based on that analysis, over the course of 2024, we sought recommendations from key stakeholders (cf. infra) and an external expert to clarify the definitions of the identified topics. This led to a refinement and consolidation of some topics as well as a clarification of their definition. We have integrated these adaptations in this year’s report as reflected in the table below.
With the full realisation that GUBERNA is at the start of a process to further structure our approach to sustainability. We are aware of the need to further objectify our intentions with more facts and figures. This report shows the steps we are taking to move from intentions in the 2023 report to measurable progress in 2024.
| 2023 | 2024 | ||
|---|---|---|---|
| Topic | Priority | Topic | Priority |
| Community & members engagement | |||
| Community development and engagement | High | Community development | High |
| Governance structure | High | Corporate culture and transparency | High |
| Transparent reporting | Medium | ||
| Knowledge transfer & interaction on ESG | |||
| Sharing inspiration on sustainable value creation | High | ||
| Interaction and collaboration on ESG | High | Sustainable value creation | High |
| Promoting diversity, equity and inclusion | Medium | ||
| Employee wellbeing | |||
| Talent development | High | Talent development | High |
| Employee health & wellbeing | Medium | Employee health & wellbeing | Medium |
| Selection and recruiting | Medium | ||
| Remuneration | Medium | Sustainable and inclusive workplace | Medium |
| Diverse and inclusive workplace environment | Low | ||
| Operational transition | |||
| Data protection | Medium* | Data protection | Medium* |
| Sustainable finance | Low | / | / |
| Reducing our carbon footprint | Medium* | Carbon footprint | Medium* |
| Waste avoidance and minimisation | Low | Waste | Low |
| Water efficiency | Low |
* The prioritisation aligns with the outcomes of the internal materiality survey. However, there are two areas, data protection and reducing our carbon footprint, where we deviate from the outcome of the exercise. Upon reflection within GUBERNA, we have decided that while ‘reducing carbon footprint’ may only score medium in terms of societal impact, it scores high in its impact on GUBERNA. We need to not only make a difference in advocating for a better environment but also actively practice what we preach. Furthermore, we see that this topic is already well represented in the current initiatives, which supports this argumentation. Additionally, data protection deserves at least medium priority given its importance for our organisation as member network. Adequate attention is already given to the topic but we continue to take important steps in the short term.
In this report we outline the steps we took in 2024 along these strategic clusters. We also identify the next steps we envision for the future on a roadmap to a more sustainable organisation.
GUBERNA contributes to the overall sustainable growth and well-being of the corporate governance community by fostering an environment that encourages transformation and collaboration. This is materialized through initiatives such as knowledge-sharing platforms, training programmes, or partnerships etc. that empower members of the community to take active leadership roles. This impact includes:
Engage regularly with our network and stakeholders to develop the corporate governance community in Belgium.
We engaged with 787 unique participants via a diverse offer of events and exchange opportunities. Our members network grew, welcoming new corporate and individual members. We interacted with numerous participants to our education programmes.
GUBERNA commits to leading by example regarding its governance structure through which the organization is directed, controlled and overseen. This includes the distribution of responsibilities, decision-making processes, and establishing checks and balances to ensure effective and ethical governance practices.
GUBERNA commits to always communicate openly and comprehensively its performances, activities and impact to stakeholders regarding overall reporting and ESG-standards.
Regularly review the composition and functioning of our governance bodies.
In 2024 we saw new chairpersonship for our Board of Directors, GUBERNA Directors Council and GUBERNA Board of Trustees. You can read more details in the section on our organisation and governance.
GUBERNA commits to leading by example regarding its governance structure through which the organization is directed, controlled and overseen. This includes the distribution of responsibilities, decision-making processes, and establishing checks and balances to ensure effective and ethical governance practices. GUBERNA commits to always communicate openly and comprehensively its performances, activities and impact to stakeholders regarding overall reporting and ESG-standards.
Share inspiration on sustainable value creation.
We organised multiple education programmes on sustainable value creation, for example ‘A governance roadmap to sustainable value creation’ and the GUBERNA Summer School. We incorporated ESG modules in incompany trainings. We published articles on CSRD, DEI and other ESG-related subjects. And our events also reflected the importance of the topic, with for example our National Member Forum that focused on the S in ESG.
GUBERNA recognises its employees as a valuable asset and thus commits to enhancing the skills and capabilities of its employees through promoting continuous learning and preparing them for future roles within the organisation.
Encourage personal development opportunities for employees.
Our colleagues attended 19 external trainings and 3 members of our team followed our own Certifying Programmes and our Governance Roadmap to Sustainable Value Creation. We have taken steps in creating development tracks for our team.
GUBERNA takes into account the holistic consideration and management of the physical, mental and social health of its employees within the workplace (cf. job satisfaction and working conditions).
Keep improving wellbeing and satisfaction.
The move of our Brussels offices to a more sustainable and comfortable building in a vibrant environment contributes to the wellbeing of our team members. We have recently revised our values in co-creation with the entire team.
Through inclusive leadership, GUBERNA aims to be a workplace that values and embraces differences among employees, ensuring equal opportunities, fair treatment, and inclusion for individuals of diverse backgrounds in terms of gender, ethnicity, disabilities and other relevant factors. This includes an effective and fair selection and recruitment process and adequate compensation and benefits for our employees.
Goal
We ensure that all team members feel valued and can be themselves, that selection and recruitment is organised in an objective manner and that compensation is adequate
Progress
Our team is diverse in terms of age, gender, competences and experience. We always work with external objective parties for recruitment of new colleagues. We updated our remuneration benchmark with the latest data.
GUBERNA commits to using and developing frameworks, policies, processes, and standards to oversee and guide the development, deployment, and use of technology within the organisation and its network (e.g. with regards to AI). GUBERNA also commits to the implementation of measures and safeguards to ensure the confidentiality, integrity and availability of information used within the organisation and its network.
Regular security audits and upholding a stringent respect for GDPR principles
In 2024 we implemented recommendations based on a security audit. We have registered at Safeonweb and are in the process of implementing the Cyberfundamentals framework.
GUBERNA undertakes strategic efforts and initiatives to decrease its overall greenhouse gas emissions and mitigate its impact on climate change (cf. energy efficiency measures, transitioning to renewable energy sources, mobility, adopting sustainable practices across operations).
GUBERNA aims to lead by example through e.g. its events and training programmes with the proposed content and themes but also regarding the organisation of its trainings and events to lead by example and encourage / inspire its network and stakeholders to take the lead themselves.
Encouraging sustainable travelling options for team members as well as participants to events and education.
Since 2024 the majority of company cars are zero emission electric vehicles. Our event communications mention different means of transport, emphasising public transport. Our staff works remote 20% of the time. We moved our Brussels offices to a more sustainable building in a 5-minute neighbourhood.
GUBERNA aims to consciously and systematically minimise waste generation through preventive measures and by promoting recycling and responsible disposal of materials. This includes initiatives to reduce the environmental footprint and to promote circular economy practices (cf. printing, food & dining/catering during events and training programmes, work resources).
Waste reduction.
Progress
The team received refillable water bottles. In 2024 we decreased greatly the use of printed paper, largely driven by a paperless approach in our education programmes.
Aware of the scale of the task to which we are committing ourselves on a voluntary basis, and in order to support the objectivity of our approach, we decided to be assisted by an external expert in carrying out a double materiality analysis.
Now that we clarified our impact definitions, 2025 will be marked by complementing these definitions with a concrete identification of risks and opportunities. Followed by strengthening the prioritisation of the impacts, risks, and opportunities. We will then set a threshold, effectively finalizing our double materiality matrix, beyond which the relevant topics will be those on which we will concentrate our efforts. This will allow us to scale up our concrete objectives, targets, action plan, and metrics.
In sum, we are only at the beginning of an ongoing and systematic journey towards a better tomorrow. A journey that needs to be adapted to our social profit nature and our limited resources, which will support a pragmatic action plan in line with our strategy.
“Network inspires content, content inspires network.”
Our academic knowledge not only serves as a source of inspiration for our network, but it also provides us, our organisation and research team with insightful themes and knowledge. Engaging in a dialogue with our stakeholders, both internal and external, is ingrained in our DNA and governance structure. We actively maintain close contact with our stakeholders, fostering transparent relationships. They influence our activities in various ways, and we incorporate their needs, expectations, and desires into our daily operations. Vice versa, GUBERNA also promotes governance as a beacon in a world in transition. Both are essential for realising the long-term strategy of GUBERNA as a knowledge centre and member network, as well as for the legitimacy of our activities (cf. Knowledge Development, Lifelong Learning, Reach).
We consider stakeholders as: “Any group or individual that can influence or is influenced by the achievement of our organisation’s objectives”. We created a visual overview of our different stakeholders, representing internal and external stakeholders. The stakeholder landscape will change over time. Therefore this visual will need to be regularly updated.
Furthermore, GUBERNA uses different methods to interact with its stakeholder on three levels as defined in our Stakeholder Study (NL):
To further structure and systematise GUBERNA’s stakeholder policy, in a future phase we will create hierarchy in the stakeholder landscape to channel efforts.
| Why do we interact? | How do we interact? | What impact do these interactions have on our performance? | Key examples from 2024 |
|---|---|---|---|
| Team members | |||
| The quality of our work stands or falls with the quality of a good working team | Bi-weekly team meetings, bi-yearly team events and regular employee satisfaction surveys | Engaged collaborators and a strong organisational culture | Team exercise to update the GUBERNA values |
| Suppliers | |||
| We want to interact in a correct and professional way with our suppliers | Regular contract updates and personal interactions | Stable, professional relationships based on clear conditions and mutual trust | We conducted a contract review of all suppliers and look for sustainable products or services |
| Board of Directors | |||
| Our Board of Directors is our key ally in realising the mission of our organisation and giving direction | Three regular board meetings a year and one half-day Strategic Conclave | We ‘walk our talk’: we have a clear strategy, a sound monitoring and can rely on a committed group of key ambassadors | We launched for the first time an open call in our member network for new board members |
| Research Partners | |||
| We want to establish long-term partnerships in view of reinforcing our research on the governance for different types of organisations or specific governance-related themes | Yearly action plan meeting with the dedicated research-team (setting the research and activities agenda) and regular follow-up meetings during the year | We can rely on dedicated research partners that are committed to support our research both financially and with their expertise | With our Research partner Public Governance we drafted a Memorandum for the future government |
| Other partners | |||
| We want to establish an ecosystem of long-term partnerships with complementary network organisations | We involve them in our member network and look for opportunities to jointly address our respective communities | We broaden our audience and reinforce our impact | We established new partnerships with a number of organisations that focus on transition and/or DEI |
| GUBERNA (Certified) Directors | |||
| Our GUBERNA-directors are our first ambassadors. We aim at creating a long-lasting lifelong learning journey with them | We have a bi-yearly meeting of the Alumni Council, the GUBERNA-director Sparkles (interviews by GUBERNA directors) and Sounding boards. The Chair of the GUBERNA Director Council has an observer mandate in the Board of Directors | An engaged community that continues its governance journey and actively contributes. They ensure a strong mouth-to-mouth promotion for pour organisation and its education programmes | We started with Sounding boards in which GUBERNA Directors reflect and deepen out specific governance themes |
| ecoDa and European organisations | |||
| We realise governance does not stop at boundaries. We are eager to exchange and learn from experiences in other European countries. | GUBERNA is member of the Board of Directors of ecoda and involved in different subcommittees (Policy Committee, Education Committee…) | We gain insights on governance developments from other countries and can benchmark them and translate them to our member network | A GUBERNA testimonial on the yearly ecoDa Member Forum |
| Individual & Corporate Members | |||
| Our members represent the “heart” of GUBERNA. We are there for and with our members. | We cultivate a continuous interaction and dialogue with our members to inspire them and respond to their needs as best as we can | Our member network stands for a robust and loyal community that believes in our purpose. “Content inspires network, network inspires content.” | We had a very successful National Member Forum in June (on AI for boards of directors). We started with individual evaluation talks with corporate members |
| Why do we interact? | How do we interact? | What impact do these interactions have on our performance? | Key examples from 2024 |
|---|---|---|---|
| Media & wider public | |||
| In line with our ‘every-one is a member’ strategy, we want to reach a broad audience | We exchange on low-threshold social media platforms and provide dedicated communication to different target groups | We are creating awareness for our mission and are broadening our impact | Reaching 10.000 followers on social media. |
| Public institutions & Political parties | |||
| We want to create awareness for sound governance and seek to exchange on governance challenges | We communicate on relevant governance insights and provide on demand governance services or training sessions | Our Centre public governance is a well-respected partner | The GUBERNA Memorandum for the 2024 elections. Our position paper on relationship agreements |
| Academics | |||
| Research is part of the DNA of the organisation. | Our Academic Council is a formal advisory body to our Board of directors. We cultivate good relations with academicians that work on governance related topics and collaborate on projects. | We are working on an effective and collaborative research eco-system with a multidisciplinary approach focusing on crossfertilisation and impact | Strategic reflection on an academic hub model |
| Concullegae & Competitors | |||
| We welcome every actor that is supporting and adding to the realisation of our mission | We welcome them in our network and look for constructive collaborations and exchanges | We are all the more dedicated to stay ‘one step ahead’ and inspire the community with new governance insights | The launch of the award ‘Bestuur van het jaar’ with De Bestuurder |
| Companies | |||
| Our corporate members are our first ambassadors | We regularly conduct evaluation talks with existing corporate members and look for new ones. The key delegates of premium corporate members are member of the Board of Trustees which is an advisory body of the Board of directors | We interact directly with our corporate members on their governance challenges and translate their feedback in our strategy and product portfolio | The excellent and very inspiring meeting of the Board of Trustees on October 12. |
| Umbrella organisations | |||
| We desire to create awareness for governance in an effective way | We look for joint opportunities and formalise them in a Befriended organisation contract. Relevant stakeholder organisations are invited to the Board of Trustees | We are enlarging our visibility and impact and are learning from other communities | The Belgian Venture capital and Private equity organisation (BVA) became Befriended organisation |
| Future generation | |||
| We believe in youth and want to inspire each other for creating sustainable (governance) future together | We have a dedicated Young GUBERNA membership and are closely monitoring the age pyramid of our Board of directors | We keep abreast of what lives in younger generations en and fine-tune our education and incompany offers to their needs and expectations | Next gen governance trainings for different shareholder families in our Centre Family Business Governance |
| 2023 | 2024 | Delta | |
| TOTAL OPERATIONAL INCOME | 3.211.851 | 3.498.056 | 286.205 |
| TOTAL OPERATIONAL EXPENSES | 2.867.038 | 3.071.915 | 204.877 |
| before depreciations | |||
| & provision | |||
| OPERATIONAL RESULT | 344.813 | 426.141 | 81.328 |
| before depreciations | |||
| & provisions | |||
| DEPRECIATIONS & PROVISIONS | 331.894 | 289.591 | -42.303 |
| OPERATIONAL RESULTS | 12.919 | 136.550 | 123.631 |
| NET RESULTS | 22.979 | 147.397 | 124.418 |
| CASH FLOW | 354.875 | 436.988 | 82.113 |
| 2023 | 2024 | Delta | |
| TOTAL OPERATIONAL INCOME | 3.211.851 | 3.498.056 | 286.205 |
| TOTAL OPERATIONAL EXPENSES | 2.867.038 | 3.071.915 | 204.877 |
| before depreciations | |||
| & provision | |||
| OPERATIONAL RESULT | 344.813 | 426.141 | 81.328 |
| before depreciations | |||
| & provisions | |||
| DEPRECIATIONS & PROVISIONS | 331.894 | 289.591 | -42.303 |
| OPERATIONAL RESULTS | 12.919 | 136.550 | 123.631 |
| NET RESULTS | 22.979 | 147.397 | 124.418 |
| CASH FLOW | 354.875 | 436.988 | 82.113 |
AB Inbev
Alides
Aspiravi
AZ oostende
Befimmo
Cera
Degroof Petercam
Deloitte
Egon Zehnder
Euronav
Exmar
Fostplus
Groupe Jolimont
Infrabel
Jensen
KBC
KPMG
Lloyd’s
MIVB-STIB
Port of Antwerp
CSK CEN
skeyes
Telenet
Umicore
Vivaqua
Xplus
Ackermans & Van Haaren
Ardo
AZ Groeninge
Bewel
De Vlaamse Waterweg
D’ieteren
Euronext
AFCN
Fluxys
ING
Jessa Ziekenhuis
Wienerberger
Laga
Nationale Loterij
NautaDutilh
Sibelco
SYENSQO
NMBS
Thomas More
UZ Gent
Valipac
Vives
Heilig Hart Ziekenhuis Leuven
Innocom
AIG
Argenta
Barco
BNP Paribas Fortis
Cartamundi
De Watergroep
EDF Luminus
Euroclear
Cliniques de l’europe/Europaziekenhuizen
Farys
Van Roey
Indaver
IPG
John Cockerill
Korn Ferry
Linklaters
Mercuri Urval
PMV
Schelstraete Delacourt Associates
SIPEF
UCB
Wallonie Entreprendre
Bpost
Bpost Group
AMAB
Amonis
Anthora
AZ Alma
AZ Jan Palfijn
AZ Vesalius
Bank Delen
Bank J. van Breda & Co
Bekaert
Belfius
Biotalys
Bpost Bank
CFE
CHU Brugmann
CHU Saint-Pierre
CILE
Cofinimmo
Compagnie du Bois Sauvage
CVBA Milcobel
De Lijn
De Werkvennootschap
Elia System Operator
EpiCURA
Etn. Franz Colruyt
EVS
Finocas / Finindus
Gaasch Packaging
Group S
HUDERF
IMOG
Immobel
Inclusio
Institut Jules Bordet
Institute of Tropical Medecine
Invest for Jobs
Iris Achat
Iris Ziekenhuizen Zuid
Iris-Faitière
Kinepolis Group
Korys
Leasinvest
Matexi Group
Mensura
Ministeries van de Vlaamse Gemeenschap
Nationaal Multiple Sclerose Centrum vzw
Plan International
Poolstok
Practimed CV
PwC
Réseau Hospitalier Namurois
Réseau PHARE
Roularta Media Group
SABAM
Sarens Bestuur
SCRL DPU Compagnie Intercommunale Liégeoise des Eaux
Sioen Industries
Smarthphoto Group
Société Régionale d’Investissement de Wallonie (SRIW)
SOGEPA
SPF BOSA
Stibbe
Stichting Zorgsaam Zorggroep Zeeuws Vlaanderen
Tinc
Titan Cement International
UNICEF
Université Libre De Bruxelles
VIAS Institute
Vlaams Instituut voor Biotechnologie
Wallonie-Bruxelles Enseignement
Warehouses Estates Belgium
Wit-Gele Kruis West-Vlaanderen
ZORGI
ACA-IT Solutions
Advocatenkantoor De Groote – De Man
Alteo Group
Brainhood SRL
C.S.L Management NV
DB Consulting SRL
Deminor
DFP Consult
Dierickx Leys Private Bank
Ecetia Real Estate
Globetrade Deluco
GR & Partners
iBabs
Lumi Praxis
Make it fly
NV Bakker & Partners
NV Benoit Security
NV Creafund Asset Management
NV Kloeck
NV Macsys
Out of Use NV
RAIDA
SA Stratec
Socomec Belgium
SOGEM SA
Spertoo
Stella P.
Sub Rosa Legal
Transfuse SE
Verpoucke BV
Weareimpactcollective
Antigifcentrum
Artsen Zonder Vakantie (AZV)
ASBL Association des Entrepreneurs Belges de Grands Travaux
Centre de Bonne Gouvernance Paul Tassin
Circular.brussels
Colead
De Zonnige Woonst (De Thuisbouwer)
Donation Royale – Koninklijke Schenking
EMMI
Febelauto vzw
Festival van Vlaanderen Brussel vzw
GVO
Het Vlaamse Kruis
Instituut voor Bedrijfjuristen
Katholiek Impuls- en Mediafonds
pharma.be – Association Générale de l’Industrie du Medicament
Recupel
TRAXIO
VLOZO vzw
VZW Circular Brussels
VZW Rodea
ZorgConnect
BAN Flanders
Beltug
Captital vzw
Centre De Bonne Gouvernance Paul Tassin
Climate Governance
Delta Group
Febelfin Academy
ICC Belgium
Mind & Market
ToolBox
Verso vzw
VKW Limburg
Vrouwennet
Women on Board
