ACTIVE

PANIFLOWER

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Financial year 2025 · Closed on 31/12/2025

Net result7,1 M €+7,4 %over 1 year

Revenue165,1 M €-12,5 %over 1 year

Equity26,2 M €-20,9 %over 1 year

Workforce110,7 ETP+5,6 %over 1 year

Identity

Source · BCE/KBO

PANIFLOWER is a Public limited company incorporated in 1968. Its main activity is: Manufacture of grain mill products. Its registered office is in Antwerpen. It employs on average 110,7 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0403.722.116
Incorporation: 01/01/1968
Legal form: Public limited company
Registered office: Westkaai 1
2170 Antwerpen · FlandreSee on map
Contributed capital: 14 100 000,00 €
Latest accounts: 31/12/2025
Average workforce: 110,7 ETP

Activities (NACE)

10610Manufacture of grain mill products· main 10610Manufacture of grain mill products 15610Manufacture of leather and related products 10910Manufacture of prepared feeds for farm animals 10910Manufacture of prepared feeds for farm animals 15710Manufacture of leather and related products+3

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 11 financial years

	2025		2023		2019		2018		2012
Income statement
Revenue	165,1 M €	-12.5%	188,7 M €	+47.6%	127,9 M €	+9.8%	116,5 M €	-9.0%	127,9 M €
EBITDA	13,1 M €	+2.7%	12,8 M €	+70.2%	7,5 M €	+59.8%	4,7 M €	+19.1%	3,9 M €
Operating result	10,6 M €	+0.6%	10,5 M €	+112%	4,9 M €	+243%	1,4 M €	+21.9%	1,2 M €
Net result	7,1 M €	+7.4%	6,7 M €	+82.8%	3,6 M €	+860%	379,4 k €	+190%	-420,7 k €
Balance sheet
Equity	26,2 M €	-20.9%	33,1 M €	+158%	12,8 M €	+39.6%	9,2 M €	+37.2%	6,7 M €
Total assets	39,4 M €	-10.0%	43,7 M €	+34.5%	32,5 M €	-13.2%	37,5 M €	-21.1%	47,5 M €
Cash	8 M €	-32.8%	11,9 M €	+937%	1,1 M €	-53.0%	2,4 M €	-17.2%	3 M €
Debts	12,3 M €	+20.9%	10,2 M €	-45.6%	18,7 M €	-26.9%	25,6 M €	-36.3%	40,2 M €
Other
Workforce	110,7 ETP	+5.6%	104,8 ETP	-2.8%	107,8 ETP	+3.1%	104,6 ETP	-1.7%	106,4 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2023

3 active · 4 ended

Last known composition, from the accounts closed on 31/12/2023, more than two years before the latest accounts. The mandates shown may have expired.

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Erik Vanherpe	Chairman of the board of directors30/06/2016 → 25/04/2024Managing director17/05/2003 → 2012 accountsended
Sam Vanherpe	Director03/12/2014 → 25/04/2024
SHAURI0469.986.675Represented by Marc Vanherpe	Managing director25/04/2019 → 24/04/2025Director03/12/2014 → 2018 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Ivan Martens	Director30/06/2010 → 2018 accounts
Bruno Vanherpe	Director30/06/2010 → 2012 accounts
MEVANCO0441.401.864Represented by Erik Vanherpe	Director30/06/2010 → 2012 accounts

Other companies at this address

Westkaai 1 2170 Antwerpen

Company	CBE no.
VERENIGING VOOR HANDEL EN NIJVERHEID IN MERKSEM, DEURNE, SCHOTEN EN OMLIGGENDE● Active	0419.430.275

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	12/05/2026	24/04/2025	29/04/2024	11/07/2023	19/05/2022	10/06/2021
General meeting	27/04/2026	24/04/2025	25/04/2024	27/04/2023	28/04/2022	22/04/2021
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, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	27/04/2026	12/05/2026	Dutch	PDF
Full model	31/12/2024	24/04/2025	24/04/2025	Dutch	PDF
Full model	31/12/2023	25/04/2024	29/04/2024	Dutch	PDF
Full model	31/12/2022	27/04/2023	11/07/2023	Dutch	PDF
Full model	31/12/2021	28/04/2022	19/05/2022	Dutch	PDF
Full model	31/12/2020	22/04/2021	10/06/2021	Dutch	PDF
Full model	31/12/2019	23/04/2020	16/06/2020	Dutch	PDF
Full model	31/12/2018	25/04/2019	11/07/2019	Dutch	PDF
Full model	31/12/2017	26/04/2018	22/05/2018	Dutch	PDF
Full model	31/12/2016	18/05/2017	17/08/2017	Dutch	PDF
Full model	31/12/2015	30/06/2016	01/08/2016	Dutch	PDF
Full model	31/12/2014	23/04/2015	09/07/2015	Dutch	PDF
Full model	31/12/2013	24/04/2014	16/07/2014	Dutch	PDF
Full model	31/12/2012	24/06/2013	12/09/2013	Dutch	PDF
Full model	31/12/2011	29/06/2012	31/08/2012	Dutch	PDF
Full model	31/12/2010	29/06/2011	28/10/2011	Dutch	PDF
Full model	31/12/2009	30/06/2010	05/08/2010	Dutch	PDF
Full model	31/12/2008	26/06/2009	27/10/2009	Dutch	PDF
Full model	31/12/2007	28/06/2008	09/06/2009	Dutch	PDF
Full model	31/12/2006	28/06/2007	30/07/2007	Dutch	PDF

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.

Board of directors

Source · NBB, accounts to 31/12/2023

3 active · 4 ended

Last known composition, from the accounts closed on 31/12/2023, more than two years before the latest accounts. The mandates shown may have expired.

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Erik Vanherpe	Chairman of the board of directors30/06/2016 → 25/04/2024Managing director17/05/2003 → 2012 accountsended
Sam Vanherpe	Director03/12/2014 → 25/04/2024
SHAURI0469.986.675Represented by Marc Vanherpe	Managing director25/04/2019 → 24/04/2025Director03/12/2014 → 2018 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Ivan Martens	Director30/06/2010 → 2018 accounts
Bruno Vanherpe	Director30/06/2010 → 2012 accounts
MEVANCO0441.401.864Represented by Erik Vanherpe	Director30/06/2010 → 2012 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates03/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/06/2024
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring29/05/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring29/11/2023
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Other14/04/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates04/07/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/10/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/08/2019
ONTSLAGEN - BENOEMINGEN
PDF

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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

Incorporation

Name

Registered office

Annual accounts

Filings11 filings

Mandates

SHAURI

Sam Vanherpe

Erik Vanherpe

Ivan Martens

MEVANCO

Bruno Vanherpe

VERSCHOORIS VEERLE BVBA

19681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026

PANIFLOWERBrabomills

Westkaai 1, 2170 Merksem (Antwerp)

Managing directorDirector

Director

Chairman of the board of directorsManaging director

Director

Auditor

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Westkaai 1, 2170 Merksem (Antwerp)Current	accounts 2023	Accounts 2023 · 2024-00078270

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
PANIFLOWERCurrent	accounts 2018 → 2025	Accounts 2025 · 2026-00109361
Brabomills	accounts 2006 → 2012	Accounts 2012 · 2013-58300233

Events

2025
Annual accounts 20257,1 M €↑
2023
Annual accounts 20236,7 M €↑
2019
Annual accounts 20193,6 M €↑
2018
Annual accounts 2018379,4 k €↑
2018
Name changePANIFLOWER
2012
Annual accounts 2012-420,7 k €↓
2011
Annual accounts 2011109,6 k €↓
2010
Annual accounts 2010529,4 k €↑
2009
Annual accounts 2009284,2 k €↑
2008
Annual accounts 2008-170,1 k €↓
2007
Annual accounts 2007287,6 k €↑
2006
Annual accounts 2006242,8 k €
01/01/1968
IncorporationPublic limited company

PANIFLOWER

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