ACTIVE

BRITISH AMERICAN TOBACCO BELGIUM

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Financial year 2025 · Closed on 31/12/2025

Net result7,1 M €-52,1 %over 1 year

Revenue1,1 Md €-4,5 %over 1 year

Equity76,9 M €-1,5 %over 1 year

Workforce90,2 ETP-2,8 %over 1 year

Identity

Source · BCE/KBO

BRITISH AMERICAN TOBACCO BELGIUM is a Public limited company incorporated in 1929. Its main activity is: Manufacture of tobacco products. Its registered office is in Dilbeek. It employs on average 90,2 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0402.018.577
Incorporation: 15/03/1929
Legal form: Public limited company
Registered office: Nieuwe Gentsesteenweg 21
1702 Dilbeek · FlandreSee on map
Contributed capital: 61 164 142,95 €
Latest accounts: 31/12/2025
Average workforce: 90,2 ETP

Activities (NACE)

12000Manufacture of tobacco products· main 12000Manufacture of tobacco products 16000Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials

Joint committees (3)

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 25 filings

Trend over 17 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	1,1 Md €	-4.5%	1,2 Md €	+4.8%	1,1 Md €	+6.1%	1 Md €	-0.1%	1 Md €
EBITDA	16,3 M €	-9.0%	18 M €	-18.8%	22,1 M €	+66.5%	13,3 M €	-41.5%	22,7 M €
Operating result	16,2 M €	-8.7%	17,7 M €	+5.3%	16,8 M €	-2.6%	17,3 M €	-34.4%	26,3 M €
Net result	7,1 M €	-52.1%	14,8 M €	+3.1%	14,4 M €	+79.0%	8 M €	-49.1%	15,8 M €
Balance sheet
Equity	76,9 M €	-1.5%	78 M €	+0.9%	77,4 M €	-80.7%	401,3 M €	+0.2%	400,4 M €
Total assets	352,9 M €	-23.2%	459,4 M €	-36.6%	724,5 M €	+7.5%	673,7 M €	+13.0%	596,3 M €
Cash	–		0 €		0 €	-100%	267,9 k €	-25.1%	357,6 k €
Debts	263 M €	-28.4%	367,5 M €	-42.0%	633,3 M €	+140%	263,7 M €	+44.2%	182,9 M €
Other
Workforce	90,2 ETP	-2.8%	92,8 ETP	+1.1%	91,8 ETP	-1.2%	92,9 ETP	-7.7%	100,6 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 250 M€ and 500 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 19 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Christophe MICHELET	Director01/02/2024 → 04/06/2027
Thomas DAENENS	Director01/01/2018 → 04/06/2027

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Tim BARTLE	Director30/03/2022 → 30/03/2028
Javier ALVAREZ BALLESPIN	Director10/12/2020 → 10/12/2026
Simon ASHTON	Director12/03/2020 → 30/03/2022

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Nieuwe Gentsesteenweg 21 1702 Dilbeek

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MEDIAGENIX● Active	0479.295.311
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METASAFE INTERNATIONAL● Active	0553.756.271
ROYAL TRANS● Active	0718.930.643

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	10/06/2026	08/07/2025	03/06/2024	16/05/2023	20/06/2022	09/07/2021
General meeting	03/06/2026	25/06/2025	16/05/2024	29/03/2023	30/03/2022	25/06/2021
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, 25 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	03/06/2026	10/06/2026	Dutch	PDF
Full model	31/12/2024	25/06/2025	08/07/2025	Dutch	PDF
Full model	31/12/2023	16/05/2024	03/06/2024	Dutch	PDF
Full model	31/12/2022	29/03/2023	16/05/2023	Dutch	PDF
Full model	31/12/2021	30/03/2022	20/06/2022	Dutch	PDF
Full model	31/12/2020	25/06/2021	09/07/2021	Dutch	PDF
Full model	31/12/2019	25/03/2020	07/07/2020	Dutch	PDF
Full model	31/12/2018	28/06/2019	19/07/2019	Dutch	PDF
Full model	31/12/2017	31/05/2018	22/06/2018	Dutch	PDF
Full model	31/12/2016	29/03/2017	12/05/2017	Dutch	PDF
Full model	31/12/2015	30/03/2016	30/05/2016	Dutch	PDF
Full model	31/12/2014	25/03/2015	03/07/2015	Dutch	PDF
Full model	31/12/2013	26/03/2014	03/07/2014	Dutch	PDF
Full modelCorrection	31/12/2012	27/03/2013	08/11/2013	Dutch	PDF
Full model	31/12/2012	27/03/2013	25/07/2013	Dutch	PDF
Full model	31/12/2011	28/03/2012	22/06/2012	Dutch	PDF
Full modelCorrection	31/12/2010	30/03/2011	25/07/2011	Dutch	PDF
Full model	31/12/2010	30/03/2011	20/06/2011	Dutch	PDF
Full modelCorrection	31/12/2009	31/03/2010	19/11/2010	Dutch	PDF
Full modelCorrection	31/12/2009	31/03/2010	12/10/2010	Dutch	PDF
Full model	31/12/2009	31/03/2010	15/06/2010	Dutch	PDF
Full model	31/12/2008	25/03/2009	18/08/2009	Dutch	PDF
Full model	31/12/2007	26/03/2008	23/06/2008	Dutch	PDF
Full model	31/12/2006	28/03/2007	26/06/2007	French	PDF
Full modelCorrection	31/12/2005	29/12/2006	16/02/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 M€ and 500 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

2 active · 19 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Christophe MICHELET	Director01/02/2024 → 04/06/2027
Thomas DAENENS	Director01/01/2018 → 04/06/2027

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Tim BARTLE	Director30/03/2022 → 30/03/2028
Javier ALVAREZ BALLESPIN	Director10/12/2020 → 10/12/2026
Simon ASHTON	Director12/03/2020 → 30/03/2022

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates17/03/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Restructuring13/01/2025
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring06/11/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates25/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares21/05/2024
KAPITAAL - AANDELEN
PDF
Capital / shares15/03/2024
KAPITAAL - AANDELEN
PDF
Mandates29/03/2023
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

Incorporation1929

Name

Registered office

Annual accounts

Filings17 filings

Mandates

Christophe MICHELET

Thomas DAENENS

Tim BARTLE

Javier ALVAREZ BALLESPIN

Simon ASHTON

Eric SENSI

Rik DOEJAAREN

Remy DI MEGLIO

Pierre DURINCK

Frederik VERBRUGGEN

Jacobus Janse VAN RENSBURG

Tom VANDERVENNET

and 9 more mandates

196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025202620272028

BRITISH AMERICAN TOBACCO BELGIUM

Nieuwe Gentsesteenweg 21, 1702 Groot-Bijgaarden

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Nieuwe Gentsesteenweg 21, 1702 Groot-BijgaardenCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00158247

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
BRITISH AMERICAN TOBACCO BELGIUMCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00158247

Events

2025
Annual accounts 20257,1 M €↓
2024
Annual accounts 202414,8 M €↑
18/05/2024
nominationMike Boonen · vaste vertegenwoordiger (commissaris)
08/05/2024
reduction_capital
01/02/2024
nominationChristophe Michelet · bestuurder
2023
Annual accounts 202314,4 M €↑
19/12/2023
reduction_capital
2022
Annual accounts 20228 M €↓
30/03/2022
nominationTim Bartle · bestuurder
2021
Annual accounts 202115,8 M €↓
25/06/2021
reconductionKPMG Bedrijfsrevisoren · commissaris
2020
Annual accounts 202034,4 M €↑
2019
Annual accounts 201914,5 M €↓
2018
Annual accounts 201815,6 M €↓
2017
Annual accounts 201723,3 M €↑
2016
Annual accounts 201615,8 M €↓
2015
Annual accounts 201530,1 M €↑
2014
Annual accounts 2014-44 M €↓
2013
Annual accounts 201378,1 M €↑
2012
Annual accounts 201220,3 M €↓
2011
Annual accounts 201176 M €↑
2010
Annual accounts 201059,5 M €↓
2009
Annual accounts 200974,9 M €
15/03/1929
IncorporationPublic limited company

BRITISH AMERICAN TOBACCO BELGIUM

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