From Balta to Real Estate: Filip Balcaen and the Balcaen Family, a journey towards 1.4 billion Euros
Filip Balcaen Fortune
Filip Balcaen is wealthy with a capital of €1,405,811,000. Known as the ex-CEO of Balta, carpet manufacturer and wall coverings, he established this company in the Southwest Flanders. His father's career began in 1964 when the Balta company was founded, a fusion of the name Balcaen and the word carpet. The company grew rapidly, reaching international group status. In 2004, Filip Balcaen sold Balta to a British investment fund, while retaining a minority stake in 20%. The Balcaen family has a fortune of over 1.4 billion euros.
Following this sale, Filip founded IVCa producer of vinyltegels (vinyl tiles). With this company, he invests in a new plant in Avelgem. In 2015, IVC was sold to the U.S.-listed company Mohawk for an impressive sum of 1 billion euros. Mohawk is also owner of Unilinfamous for its Quickstep floor coverings. Filip expresses that "industry only thrives if it is China-proof". This means avoiding labor-intensive sectors, where transport costs form a significant barrier. Considering the difficulties in the textile sector, Filip has since redirected his investments towards real estate.
In spring 2019, Balcaen became the owner of the former IBM Toren located in Brusselsnow renamed Victoria Regina Tower. The tower has 22 levels and features 25,000 m2 of office space with underground parking for 279 vehicles. A restaurant is being installed on the roof of the building. The Balcaen family is one of the richest in Belgium, and Filip Balcaen is one of the TOP 25 richest men in Belgium.
In addition to real estate, Filiep Balcean also invests in industrial companies. In 2021, in partnership with Paul Thiershe sold the majority of their interest in the solar panel company Origis Energy to the financial group Global Atlantic for 50 million euros each. In 2022, Filip became the main shareholder in the listed rigid foam producer. Recticelby acquiring a 22.6% stake from Austrian company Greiner for around 200 million euros. Filip Balcaen is a shrewd investor, having recently bought the Baobab candle brand and continuing to grow it.
Filiep Balcaen lives discreetly with his family in an 18th-century castle in Spiere-Helkijn, West-Vlaanderen. He has been investing in the renovation where the stables house his collection of oldtimers. The interior of the château was designed by Axel Vervoordta renowned antique dealer and designer. His two sons, Louis Balcaen and Simon Balcaen, are also involved in the family business and are fervent sailing enthusiasts. They travel a lot and live a life of luxury with their private jets, and they love sailing.
In 2011, Filip Balcaen commissioned a 34-metre yacht named Nilaya at a cost of around 10 million euros. His passion for vehicles is also reflected in this luxurious decision. Although Filip remains a discreet figure, his investments and commercial successes speak for themselves, making him an influential player in the flooring, renewable energies and real estate sectors. The Balcaen family is a close-knit family that sees a lot of each other. Filip Balcaen has a fortune of over 1 billion, which his children Louis and Simon Balcaen will soon inherit. Filip Balcaen has the good fortune to already be grandfather to 3 grandchildren, whom they often take on vacation.
