The cache of bars and thousands of coins was found during sewer work at a property in Dendermonde, where authorities are investigating ownership.
DENDERMONDE, BELGIUM — Construction workers renovating a former brewery property uncovered a hidden cache of gold valued at about 9 million euros, or roughly $10.5 million, after drilling work led them to a gold bar beneath the building, authorities and local reports said.
The discovery in Sint-Gillis-Dendermonde, northwest of Brussels, included thousands of gold coins and dozens of bars. Reports citing police and the organization that owns the property said at least 4,000 coins were recovered, while photographs released by local police showed rows of bullion bars and buckets filled with coins. Authorities are now trying to determine where the gold came from and who has the legal right to claim it.
Eight workers were carrying out renovation work when the treasure was found. Patrick Feys, chief of the Dendermonde Police District, told Belgian broadcaster VTM that a drill became stuck during the work after striking a gold bar. The workers alerted the property owner, who contacted police. Authorities then took control of the cache.
One of the workers was an 18-year-old student identified by Belgian media only as Kobe, who was working a summer construction job. He told VTM that the crew initially thought some of the objects they saw were ordinary euro coins. After digging further, however, they realized they had found gold, including bullion bars. The workers were laying drainage or sewer pipes when they came across the hidden material.
The gold had apparently been concealed inside or near a cellar wall beneath a large villa connected to the former brewery. The building was originally associated with Theophilus Van Assche, whose family operated a brewery at the site. Brewing began there in 1899 and continued until 1970, according to reports on the property’s history. The cache included coins, nuggets and numbered bullion bars.
The property is now controlled by CAW Oost-Vlaanderen, a social welfare organization. The group is renovating the site for offices and housing, including facilities intended to help people in need. Geert Hillaert of CAW said workers were installing drainage pipes when they encountered the gold during the extensive renovation.
Police said the recovered gold was carefully inventoried before being placed in a high-security federal government vault. Feys said the inventory process was carried out under camera surveillance and the material was sealed, a step intended to create a clear record of what authorities had taken into custody. The gold remains secured while officials examine its origins.
The East Flanders public prosecutor’s office is also involved. Authorities must determine whether any of the gold was stolen or connected to criminal activity before the question of private ownership can be resolved. The construction workers, the organization that owns the property and possible descendants of previous owners could have competing interests, but officials have not determined who is entitled to the treasure.
The history of the Van Assche family has drawn attention because of its connection to the property. Former Dendermonde Mayor Piet Buyse, who has studied local history, has suggested the family’s wealth makes it plausible that the gold once belonged to them. That theory has not been established by investigators, and authorities have not announced when or why the cache was hidden.
Police have also warned members of the public not to visit the construction site in hopes of finding more treasure. Authorities said the recovered gold had already been removed and noted that the fenced-off work area contains potentially dangerous pits and other construction hazards.
The investigation into the cache’s origin and legal ownership remained unresolved as of Wednesday. Until those questions are settled, the gold will remain secured by authorities rather than with the workers, property owner or any potential heirs.
Author note: Last updated August 19, 2026.