Gold Treasure in Dendermonde Linked to Brewer Family

A gold treasure estimated at approximately 9 million euros discovered by construction workers in Dendermonde, Belgium, likely belonged to the wealthy Van Assche brewer family who built the property in 1899, according to Piet Buyse, historian and former mayor of the city. The revelation adds a remarkable historical dimension to what was already one of Belgium’s most extraordinary archaeological finds in recent memory.

The Discovery

Workers from construction firm De Brand stumbled upon the treasure on Tuesday morning while excavating for sewer pipe installation during renovation works at a building on Van Langenhovestraat in Sint-Gillis-Dendermonde. The haul, consisting of more than 40 numbered gold bars and over 4,000 gold sovereigns (British investment coins containing 7.322 grams of pure gold each), was found hidden in a chest wrapped in a plastic bag and bricked into a cellar wall, as VRT NWS reported.

Eighteen-year-old job student Kobe Philips from Moerzeke was among the workers who made the discovery. “Our first reaction was actually disbelief, amazement,” he told VRT NWS. “I first thought they were 1-euro coins. But then we also saw a gold bar lying there. Then we knew it was something bigger.”

Site supervisor Mario, who has spent 33 years in construction, described the moment as surreal. “After 33 years in construction, it’s the first time I’ve experienced something like this,” he said. “I don’t think it will happen again.”

The Van Assche Connection

Buyse, who served as mayor of Dendermonde for 17 years, said he consulted historical records immediately after hearing about the discovery. “In 1899, Theofiel Van Assche bought an enormous plot of land on Van Langenhovestraat to build a brewery,” Buyse explained to VRT NWS. “It must have been an enormously wealthy family. Besides the brewery, they also had various cafes. Moreover, the Van Assches were also in real estate.”

The family’s fortune remained undivided because Theofiel’s three children never married. When the last family member died in 1982, the building was donated to the Abbey of Dendermonde with the condition it be used for a good cause. It eventually became a facility of CAW Oost-Vlaanderen, a social welfare organization that supports homeless people and others in vulnerable situations.

“The treasure dates from after World War II,” Buyse noted. “At that point, the Van Assche family already had a very large fortune. There’s certainly a chance they converted that wealth into gold.” He pointed to the 1929 stock market crash as a likely catalyst, noting that “that generation didn’t want to have too much money. Gold was a safe haven.”

According to Biere Grand Cru, a Belgian beer history publication, the Van Assches represent a model common in Belgian brewing history: successful local brewers who were important entrepreneurs and played a prominent economic and social role in their city for about 70 years.

Legal Questions and Ownership

The East Flanders public prosecutor’s office is currently investigating the origin and legal ownership of the gold. “At this moment it is not known where the gold comes from and legally to whom the gold belongs,” spokesperson Hanne Ollevier said, as reported by NOS.

Under Belgian civil law, the original owner has five years to claim the treasure. If no one comes forward, the finder or the government becomes the new owner, according to VRT NWS’s legal analysis. For treasures found hidden on someone else’s property, the find is typically split: half to the finder, half to the property owner.

The police have taken the gold into custody and stored it in a high-security vault of the federal government services. Police spokesperson Patrick Feys warned curious treasure hunters to stay away from the site. “After the treasure was found, the entire site was turned inside out,” he said. “We are certain there is nothing more to find.” The police also posted a warning on Facebook, noting the construction site is fenced off and dangerous.

What’s Next

If the gold ultimately ends up with CAW Oost-Vlaanderen, Buyse sees a poetic justice in the outcome. “If this money eventually ends up with CAW, the circle is truly complete,” he said. “That’s exactly what the Van Assche family wanted: that something good happened with their money.”

CAW’s general director Geert Hillaert confirmed the organization would use any proceeds to expand services for vulnerable people across East Flanders. “That would be a very welcome gift to address the enormous need we experience daily,” he said.

The workers who made the discovery hope for a finder’s fee, though that has not yet been determined. As Kobe Philips put it: “We naturally hope we’ll get a finder’s fee. That would be nice.”

For now, the gold sits in a secure federal vault while prosecutors determine whether any criminal aspects are involved. The five-year window for the original owner to claim the treasure has only just begun.