ACTIVE

PALM

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Financial year 2025 · Closed on 31/12/2025

Net result1,7 M €-25,7 %over 1 year

Revenue52,7 M €-13,0 %over 1 year

Equity20 M €-35,3 %over 1 year

Workforce148,1 ETP-0,3 %over 1 year

Identity

Source · BCE/KBO

PALM is a Public limited company incorporated in 1942. Its main activity is: Manufacture of beer. Its registered office is in Londerzeel. It employs on average 148,1 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0400.724.222
Incorporation: 30/06/1942
Legal form: Public limited company
Registered office: Steenhuffeldorp 3
1840 Londerzeel · FlandreSee on map
Contributed capital: 2 211 745,97 €
Latest accounts: 31/12/2025
Average workforce: 148,1 ETP

Activities (NACE)

11050Manufacture of beer· main 11050Manufacture of beer 15960Manufacture of leather and related products 68203Rental and operating of own or leased real estate 68203Rental and operating of own or leased real estate 11050Manufacture of beer+3

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 21 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	52,7 M €	-13.0%	60,6 M €	+0.2%	60,4 M €	+8.2%	55,8 M €	+10.6%	50,5 M €
EBITDA	4,4 M €	-11.1%	4,9 M €	-34.2%	7,5 M €	-55.4%	16,8 M €	+229%	5,1 M €
Operating result	2,4 M €	-14.7%	2,9 M €	-49.4%	5,7 M €	-59.7%	14 M €	+740%	1,7 M €
Net result	1,7 M €	-25.7%	2,3 M €	-42.7%	4 M €	-61.0%	10,2 M €	+830%	1,1 M €
Balance sheet
Equity	20 M €	-35.3%	30,9 M €	+8.0%	28,6 M €	+16.1%	24,6 M €	+70.7%	14,4 M €
Total assets	25 M €	-37.4%	40 M €	-5.5%	42,3 M €	-9.3%	46,6 M €	+29.0%	36,1 M €
Cash	–		5,1 k €	-94.4%	91,5 k €	+1819%	4,8 k €	-86.2%	34,6 k €
Debts	5 M €	-43.9%	9 M €	-32.8%	13,3 M €	-38.5%	21,7 M €	+1.4%	21,4 M €
Other
Workforce	148,1 ETP	-0.3%	148,6 ETP	-1.6%	151,0 ETP	-6.8%	162,0 ETP	-2.6%	166,3 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 15 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Gijsbertus Franciscus Maria Swinkels	Director27/03/2025 → 28/05/2031
Petrus Johannes Franciscus Swinkels	Director27/03/2025 → 28/05/2031
Sven Stuer	Director27/03/2025 → 28/05/2031

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Peter-Jan Joost Marie Swinkels	Director29/05/2024 → 27/03/2025
Mark Rutten	Director13/03/2024 → 29/05/2030
Geert Van Iwaarden	Director04/01/2021 → 01/01/2024

Other companies at this address

Steenhuffeldorp 3 1840 Londerzeel

Company	CBE no.
De Vlier● Liquidation	0423.260.191
STONEHILL● Active	0668.422.941
SWINKELS BELGIUM● Active	1020.341.614
Swinkels Belgium Group● Active	1022.735.237

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	18/06/2026	10/06/2025	11/06/2024	21/11/2023	14/06/2022	22/06/2021
General meeting	03/06/2026	28/05/2025	29/05/2024	31/05/2023	25/05/2022	26/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 21 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	03/06/2026	18/06/2026	Dutch	PDF
Full model	31/12/2024	28/05/2025	10/06/2025	Dutch	PDF
Full model	31/12/2023	29/05/2024	11/06/2024	Dutch	PDF
Full modelCorrection	31/12/2022	31/05/2023	21/11/2023	Dutch	PDF
Full model	31/12/2022	31/05/2023	22/06/2023	Dutch	PDF
Full model	31/12/2021	25/05/2022	14/06/2022	Dutch	PDF
Full model	31/12/2020	26/05/2021	22/06/2021	Dutch	PDF
Full model	31/12/2019	27/05/2020	25/06/2020	Dutch	PDF
Full model	31/12/2018	29/05/2019	25/06/2019	Dutch	PDF
Full model	31/12/2017	30/05/2018	14/06/2018	Dutch	PDF
Full model	31/12/2016	31/05/2017	26/06/2017	Dutch	PDF
Full model	31/12/2015	25/05/2016	09/06/2016	Dutch	PDF
Full model	31/12/2014	27/05/2015	01/07/2015	Dutch	PDF
Full model	31/12/2013	28/05/2014	24/06/2014	Dutch	PDF
Full model	31/12/2012	29/05/2013	23/07/2013	Dutch	PDF
Full model	31/12/2011	30/05/2012	15/06/2012	Dutch	PDF
Full model	31/12/2010	25/05/2011	23/06/2011	Dutch	PDF
Full model	31/12/2009	26/05/2010	18/06/2010	Dutch	PDF
Full model	31/12/2008	27/05/2009	11/06/2009	Dutch	PDF
Full model	31/12/2007	28/05/2008	18/06/2008	Dutch	PDF
Full model	31/12/2006	30/05/2007	04/07/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 15 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Gijsbertus Franciscus Maria Swinkels	Director27/03/2025 → 28/05/2031
Petrus Johannes Franciscus Swinkels	Director27/03/2025 → 28/05/2031
Sven Stuer	Director27/03/2025 → 28/05/2031

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Peter-Jan Joost Marie Swinkels	Director29/05/2024 → 27/03/2025
Mark Rutten	Director13/03/2024 → 29/05/2030
Geert Van Iwaarden	Director04/01/2021 → 01/01/2024

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Restructuring26/11/2025
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring16/10/2025
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates26/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring21/08/2025
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
PDF
Mandates25/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/04/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/08/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/06/2024
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation1942

Name

Registered office

Annual accounts

Filings20 filings

Mandates

Gijsbertus Franciscus Maria Swinkels

Petrus Johannes Franciscus Swinkels

Sven Stuer

Peter-Jan Joost Marie Swinkels

Mark Rutten

Harold Van Litsenburg

Geert Van Iwaarden

Petrus Johannes Francis. Swinkels

Johannes Renier Antonius Stephanus Emmanuel Swinkels

Johannes Renier-Antonius Swinkels

Franciscus Alfonsus Maria Swinkels

Franciscus Alfonsus M. Swinkels

and 6 more mandates

196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025202620272028202920302031

PALMpalm breweries

Steenhuffeldorp 3, 1840 Londerzeel

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Steenhuffeldorp 3, 1840 LonderzeelCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00185105

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
PALMCurrent	accounts 2014 → 2025	Accounts 2025 · 2026-00185105
palm breweries	accounts 2006 → 2013	Accounts 2013 · 2014-21500303

Events

2025
Annual accounts 20251,7 M €↓
31/10/2025
reduction_capital
01/10/2025
nominationSven Stuer · General Manager
01/10/2025
nominationEllen Cools · HR-Medewerker
01/10/2025
nominationHannelore Maes · HR-Medewerker
01/10/2025
nominationGlenn De Ridder · Legal Counsel
01/10/2025
reduction_capital
01/10/2025
split
30/09/2025
apport
29/09/2025
nominationDidier DELANOYE · commissaris
28/05/2025
nominationDidier Delanoye · commissaris
27/03/2025
nominationPetrus Johannes Franciscus Swinkels · bestuurder
27/03/2025
nominationGijsbertus Franciscus Maria Swinkels · bestuurder
27/03/2025
nominationSven Stuer · bestuurder
2024
Annual accounts 20242,3 M €↓
29/05/2024
reconductionPeter-Jan Joost Marie Swinkels · bestuurder
29/05/2024
reconductionSven Stuer · dagelijks bestuurder
13/03/2024
nominationMark Piet-Jan Rutten · bestuurder
2023
Annual accounts 20234 M €↓
2022
Annual accounts 202210,2 M €↑
25/05/2022
nominationPricewaterhouseCoopers Belgium BV · commissaris
25/05/2022
nominationDidier Delanoye · commissaris
01/01/2022
nominationSven Stuer · General Manager
01/01/2022
nominationGodelieve Baeyens · Financieel Manager
01/01/2022
nominationMark van Oppens · Sales Manager Horeca Contracting
01/01/2022
nominationBert Poukens · Human Resources Manager
2021
Annual accounts 20211,1 M €↓
2020
Annual accounts 20201,3 M €↑
2019
Annual accounts 20191,3 M €↑
2018
Annual accounts 2018623,2 k €↓
2017
Annual accounts 20171,4 M €↑
2016
Annual accounts 2016-590,7 k €↓
2015
Annual accounts 2015475,5 k €↑
2014
Annual accounts 2014-1,2 M €↓
2014
Name changePALM
2013
Annual accounts 2013-504,7 k €↑
2012
Annual accounts 2012-2,5 M €↓
2011
Annual accounts 2011-428,5 k €↓
2010
Annual accounts 2010565,8 k €↓
2009
Annual accounts 20091,4 M €↑
2008
Annual accounts 20081,3 M €↑
2007
Annual accounts 2007-27,8 M €↓
2006
Annual accounts 20061,2 M €
30/06/1942
IncorporationPublic limited company

PALM

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline

Timeline

Registered offices

Company names

Events