The Belgian federal government has approved a EUR 61 million loan to rail freight operator Lineas, reaffirming the company’s role as a key player in both the national and European logistics sector.
The decision, made by the federal cabinet (Kern) on 21 July, will provide Lineas with financial stability as it navigates a challenging economic landscape marked by declining freight volumes across critical industries such as steel, chemicals, and automotive. The funding will be delivered through the Belgian Sovereign Wealth Fund (SFPIM), a long-standing shareholder in the company.
Support for a strategic national asset
Lineas, headquartered in Brussels, is Europe’s largest private rail freight company and employs more than 1,500 people. It operates extensive rail logistics services for hundreds of industrial clients across the continent. The federal government’s support underscores the firm’s central role in strengthening Belgium’s industrial competitiveness and reducing carbon emissions from freight transport.
Jean-Luc Crucke, Federal Minister of Mobility, Climate and Environmental Transition, described the loan as part of a wider national commitment to rail freight: “The Belgian State has always considered rail freight to be a pillar of ecological and industrial transition. Lineas, Europe’s leading private rail freight operator, is at the heart of this ambition. This public financing is fully aligned with our long-term vision.”
Federal Deputy Prime Minister and Minister of Finance and Pensions Jan Jambon echoed that sentiment: “SFPIM’s investment in Lineas reflects the company’s long-term relevance to Belgium’s economic and environmental goals. As a strategic investor, SFPIM is committed to supporting the development of strong, future-oriented enterprises, and Lineas clearly fits that profile.”
Lineas, a company in transition
The financing will help Lineas continue operations while advancing its transformation agenda, which has included a major overhaul of its business model. In recent years, the company has made significant progress towards profitability, reducing EBIT losses from EUR 82 million in 2022 to EUR 13.6 million in 2024.
Now under the leadership of CEO Erik van Ockenburg, Lineas has launched a renewed strategic roadmap aiming for EBIT breakeven by 2026. The plan focuses on winning new commercial contracts, particularly in the intermodal and chemical freight sectors, and strengthening the company’s capital structure through private investment.
Van Ockenburg welcomed the government’s support: “This loan from the Belgian government is a strong recognition of Lineas’ role in building the logistics of tomorrow. We are pleased to be able to send our customers, partners and employees a message of continuity and, above all, the assurance of our commitment to taking the company where it has to go: in delivering quality, high-value customer service and sustainable profitability, while being an attractive employer.”
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