ACTIVE

BAXTER

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Financial year 2025 · closed on 31/12/2025

Net result

6,2 M €

-64.0% YoY

Revenue

106,6 M €

+2.2% YoY

Equity

83,8 M €

+7.6% YoY

Workforce

901,3 ETP

+0.1% YoY

What does BAXTER do?

BAXTER is a Public limited company incorporated in 1968. Its main activity is: Manufacture of pharmaceutical preparations. Its registered office is in Lessines. It employs on average 901,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0403.093.693

Incorporation

01/01/1968

Legal form

Public limited company

Registered office

Boulevard René Branquart(L) 80
7860 Lessines · WallonieSee on map

Contributed capital

7 122 417,00 €

Latest accounts

31/12/2025

Average workforce

901,3 ETP

Activities (NACE)

21201Manufacture of pharmaceutical preparations· main 21201Manufacture of pharmaceutical preparations 24421Aluminium production

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Revenue	106,6 M €	+2.2%	104,2 M €	-2.0%	106,3 M €	+4.3%	102 M €	+2.1%	99,8 M €	+7.8%	92,6 M €	+11.5%	83,1 M €	+4.1%	79,8 M €	-4.2%	83,3 M €	-0.6%	83,8 M €	-3.0%	86,4 M €	-65.6%	250,8 M €	+8.7%	230,7 M €	+7.2%	215,2 M €	+10.1%	195,5 M €	+4.9%	186,3 M €	+0.9%	184,6 M €	+2.9%	179,4 M €
EBITDA	14,7 M €	-4.0%	15,3 M €	-4.5%	16 M €	-11.5%	18,1 M €	+14.9%	15,7 M €	+9.3%	14,4 M €	-16.8%	17,3 M €	+9.4%	15,8 M €	-14.6%	18,5 M €	-11.6%	21 M €	+11.6%	18,8 M €	-61.6%	48,9 M €	+21.1%	40,4 M €	+9.0%	37,1 M €	+8.9%	34,1 M €	-0.5%	34,2 M €	+16.1%	29,5 M €	-9.9%	32,7 M €
Operating result	8,2 M €	-0.1%	8,2 M €	-4.5%	8,6 M €	-18.3%	10,5 M €	+46.6%	7,2 M €	+13.7%	6,3 M €	-33.8%	9,5 M €	+62.4%	5,9 M €	-33.7%	8,9 M €	-25.5%	11,9 M €	+21.1%	9,8 M €	-67.3%	30 M €	+50.3%	20 M €	+21.3%	16,5 M €	+29.9%	12,7 M €	+3.4%	12,3 M €	+17.8%	10,4 M €	-35.5%	16,1 M €
Net result	6,2 M €	-64.0%	17,1 M €	+163%	6,5 M €	-47.9%	12,4 M €	+160%	4,8 M €	+3.4%	4,6 M €	-27.9%	6,4 M €	-40.3%	10,8 M €	+72.3%	6,3 M €	-20.0%	7,8 M €	+167%	-11,7 M €	-165%	18,1 M €	+55.7%	11,6 M €	-34.3%	17,7 M €	-9.4%	19,5 M €	+48.8%	13,1 M €	-79.8%	64,9 M €	+43.6%	45,2 M €
Balance sheet
Equity	83,8 M €	+7.6%	77,9 M €	+6.6%	73,1 M €	+9.2%	67 M €	+21.9%	54,9 M €	+8.8%	50,5 M €	+8.9%	46,4 M €	+14.4%	40,6 M €	+32.5%	30,6 M €	+21.1%	25,3 M €	+48.5%	17 M €	-81.8%	93,6 M €	+55.8%	60,1 M €	+21.5%	49,4 M €	+50.7%	32,8 M €	+9.0%	30,1 M €	-4.3%	31,5 M €	-1.5%	31,9 M €
Total assets	160 M €	+3.4%	154,8 M €	+2.6%	150,8 M €	+6.8%	141,3 M €	+7.1%	132 M €	-1.6%	134,1 M €	+8.4%	123,8 M €	+10.4%	112,1 M €	-5.7%	118,9 M €	+5.2%	113 M €	-16.8%	135,8 M €	-68.5%	430,6 M €	+7.0%	402,6 M €	+12.9%	356,6 M €	+16.0%	307,5 M €	+6.7%	288,2 M €	+10.7%	260,3 M €	-1.8%	265,2 M €
Cash	–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		389 €
Debts	75,2 M €	-0.4%	75,5 M €	-0.9%	76,2 M €	+4.7%	72,7 M €	-4.7%	76,3 M €	-7.9%	82,9 M €	+7.2%	77,3 M €	+10.3%	70,1 M €	-20.2%	87,9 M €	+0.5%	87,4 M €	-26.3%	118,7 M €	-64.7%	336,2 M €	-1.1%	340 M €	+11.1%	306 M €	+12.1%	273,1 M €	+6.8%	255,6 M €	+13.6%	225,1 M €	-1.5%	228,4 M €
Other
Workforce	901,3 ETP	+0.1%	900,4 ETP	-3.4%	932,3 ETP	+1.9%	915,2 ETP	-1.1%	925,4 ETP	+8.1%	856,2 ETP	+4.2%	821,5 ETP	-1.5%	833,6 ETP	+8.9%	765,7 ETP	+0.6%	760,9 ETP	-26.7%	1 037,9 ETP	-30.8%	1 500,7 ETP	+1.5%	1 478,7 ETP	+5.0%	1 407,7 ETP	+3.9%	1 355,5 ETP	-1.2%	1 371,7 ETP	-0.8%	1 382,5 ETP	+6.1%	1 303,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 50 ended

Active mandates

Abdellah EL KACEM

Director · since 28 mars 2025 · until 30 juin 2031

Active

Lionel ROSOUX

Managing director · since 01 mars 2024 · until 17 mars 2025

Active

Annelies Bryon

Managing director · since 15 juillet 2023 · until 25 juin 2029

Active

Guy In't Ven

Director · since 15 juillet 2023 · until 25 juin 2029

Active

Serge Vandermotten

Director · since 15 juillet 2023 · until 25 juin 2029

Active

Frédéric Yannart

Director · since 01 janvier 2021 · until 01 janvier 2027

Active

Ended mandates

Annelies Bryon

Director · since 15 juillet 2023 · until 25 juin 2029

Ended

Adriano Marques Antunes

Director · since 01 janvier 2022 · until 15 février 2024

Ended

Adriano Marques Antunes

Director · since 01 janvier 2022 · until 01 janvier 2028

Ended

Jacques Delbecq

Director · since 01 janvier 2021 · until 01 janvier 2027

Ended

At this address

Other companies at this address

Company	CBE no.
BAXALTA BELGIUM MANUFACTURING● Active	0563.700.454
BAXTER BELGIUM● Active	0861.155.805
Baxter Formation et Entraide-Ouvriers● Active	0462.222.222
BAXTER GROUPE UNITE TVA● Active	0840.298.132
Baxter Pension Fund Belgium● Active	0428.690.312
Baxter R and D Europe● Active	0419.859.253
BAXTER SERVICES EUROPE● Active	0444.648.295
Baxter World Trade● Active	0426.694.684
Inform'L● Active	0656.649.319

Annual accounts

Full financial information

	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	08/07/2026	10/07/2025	09/07/2024	10/07/2023	12/07/2022	08/07/2021
General meeting	29/06/2026	30/06/2025	24/06/2024	26/06/2023	27/06/2022	28/06/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

38 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	29/06/2026	08/07/2026	French	PDF
Full model	31/12/2024	30/06/2025	10/07/2025	French	PDF
m121-f-p	31/12/2024	06/05/2025	09/07/2025	French	PDF
Full model	31/12/2023	24/06/2024	09/07/2024	French	PDF
m121-f-p	31/12/2023	07/05/2024	09/07/2024	French	PDF
Full model	31/12/2022	26/06/2023	10/07/2023	French	PDF
m121-f-p	31/12/2022	02/05/2023	25/07/2023	French	PDF
Full model	31/12/2021	27/06/2022	12/07/2022	French	PDF
m121-f-p	31/12/2021	03/05/2022	14/07/2022	French	PDF
Full model	31/12/2020	28/06/2021	08/07/2021	French	PDF
m121-f-p	31/12/2020	04/05/2021	08/07/2021	French	PDF
Full model	31/12/2019	24/09/2020	21/10/2020	French	PDF
m121-f-p	31/12/2019	05/05/2020	28/10/2020	French	PDF
Full model	31/12/2018	20/06/2019	02/07/2019	French	PDF
m121-f-p	31/12/2018	21/02/2019	17/07/2019	French	PDF
Full model	31/12/2017	21/06/2018	27/07/2018	French	PDF
m121-f-p	31/12/2017	08/05/2018	01/08/2018	French	PDF
Full model	31/12/2016	15/06/2017	21/06/2017	French	PDF
m121-f-p	31/12/2016	02/05/2017	21/06/2017	French	PDF
Full model	31/12/2015	16/06/2016	02/08/2016	French	PDF
m121-f-p	31/12/2015	03/05/2016	02/08/2016	French	PDF
Full model	31/12/2014	18/06/2015	03/08/2015	French	PDF
m121-f-p	31/12/2014	05/05/2015	03/08/2015	French	PDF
Full model	31/12/2013	30/06/2014	29/07/2014	French	PDF

View all 38 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 50 ended

Active mandates

Abdellah EL KACEM

Director · since 28 mars 2025 · until 30 juin 2031

Active

Lionel ROSOUX

Managing director · since 01 mars 2024 · until 17 mars 2025

Active

Annelies Bryon

Managing director · since 15 juillet 2023 · until 25 juin 2029

Active

Guy In't Ven

Director · since 15 juillet 2023 · until 25 juin 2029

Active

Serge Vandermotten

Director · since 15 juillet 2023 · until 25 juin 2029

Active

Frédéric Yannart

Director · since 01 janvier 2021 · until 01 janvier 2027

Active

Ended mandates

Annelies Bryon

Director · since 15 juillet 2023 · until 25 juin 2029

Ended

Adriano Marques Antunes

Director · since 01 janvier 2022 · until 15 février 2024

Ended

Adriano Marques Antunes

Director · since 01 janvier 2022 · until 01 janvier 2028

Ended

Jacques Delbecq

Director · since 01 janvier 2021 · until 01 janvier 2027

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates29/07/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates22/05/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates08/07/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates30/04/2024
DEMISSIONS, NOMINATIONS
PDF
Capital / shares20/03/2024
CAPITAL, ACTIONS
PDF
Mandates28/07/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates28/07/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates19/04/2023
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

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

See the Business plan

2025
Annual accounts 20256,2 M €↓
30/06/2025
nominationRomain Seffer — commissaire
28/03/2025
nominationAbdellah El Kacem — administrateur
2024
Annual accounts 202417,1 M €↑
01/03/2024
nominationLionel ROSOUX — administrateur
01/03/2024
nominationLionel ROSOUX — administrateur délégué
14/02/2024
autre
2023
Annual accounts 20236,5 M €↓
15/07/2023
nominationAdriano Marques Antunes — administrateur-délégué
15/07/2023
nominationAnnelies Bryon — administrateur-délégué
15/07/2023
nominationAnnelies Bryon — administrateur
15/07/2023
nominationGuy In ‘t Ven — administrateur
15/07/2023
nominationSerge Vandermotten — administrateur
2022
Annual accounts 202212,4 M €↑
27/06/2022
reconductionSRL PwC Reviseurs d'Entreprises — commissaire
27/06/2022
nominationRomain Seffer — commissaire
2021
Annual accounts 20214,8 M €↑
2020
Annual accounts 20204,6 M €↓
24/09/2020
reconductionHerman Jacobs — administrateur
2019
Annual accounts 20196,4 M €↓
2018
Annual accounts 201810,8 M €↑
2017
Annual accounts 20176,3 M €↓
2016
Annual accounts 20167,8 M €↑
2015
Annual accounts 2015-11,7 M €↓
2014
Annual accounts 201418,1 M €↑
2013
Annual accounts 201311,6 M €↓
2012
Annual accounts 201217,7 M €↓
2011
Annual accounts 201119,5 M €↑
2010
Annual accounts 201013,1 M €↓
2009
Annual accounts 200964,9 M €↑
2008
Annual accounts 200845,2 M €
01/01/1968
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

BAXTER

Overview

What does BAXTER do?

Trend over 18 financial years

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