ACTIVE

Smurfit Westrock Recovered Fiber Belgium

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Financial year 2025 · Closed on 31/12/2025

Net result-411,3 k €-1 038,7 %over 1 year

Revenue29,4 M €-16,7 %over 1 year

Equity1,9 M €-17,6 %over 1 year

Workforce16,7 ETP+3,1 %over 1 year

Identity

Source · BCE/KBO

Smurfit Westrock Recovered Fiber Belgium is a Public limited company incorporated in 1944. Its main activity is: Sewerage. Its registered office is in Antwerpen. It employs on average 16,7 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0403.742.506
Incorporation: 19/10/1944
Legal form: Public limited company
Registered office: Schijnpoortweg 135
2170 Antwerpen · FlandreSee on map
Contributed capital: 150 000,00 €
Latest accounts: 31/12/2025
Average workforce: 16,7 ETP

Activities (NACE)

37200Sewerage· main 38210Treatment and disposal of non-hazardous waste 38323Recovery of sorted materials 38321Recovery of sorted materials 46769Wholesale of other intermediate products 46869Wholesale trade, except of motor vehicles and motorcycles

Joint committees (3)

14203
200
218

Signals

Solid equityPositive cashflowHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	29,4 M €	-16.7%	35,2 M €	+17.9%	29,9 M €	-38.1%	48,3 M €	+6.6%	45,3 M €
EBITDA	-3,1 k €	-103%	111,7 k €	-63.4%	305,3 k €	-54.8%	675,9 k €	-5.1%	712,5 k €
Operating result	-507,2 k €	-48.7%	-341,1 k €	-1226%	-25,7 k €	-107%	359,4 k €	-29.3%	508,1 k €
Net result	-411,3 k €	-1039%	43,8 k €	-48.5%	85 k €	-66.4%	252,8 k €	-49.9%	504,2 k €
Balance sheet
Equity	1,9 M €	-17.6%	2,3 M €	+0.0%	2,3 M €	+2.0%	2,3 M €	+9.8%	2,1 M €
Total assets	5,5 M €	-15.1%	6,5 M €	-23.0%	8,4 M €	-0.9%	8,5 M €	-4.8%	8,9 M €
Cash	–		–		–		4 k €		–
Debts	3,4 M €	-12.7%	3,9 M €	-31.5%	5,7 M €	-0.5%	5,8 M €	-10.8%	6,5 M €
Other
Workforce	16,7 ETP	+3.1%	16,2 ETP	-1.8%	16,5 ETP	+11.5%	14,8 ETP	+6.5%	13,9 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 8 ended

Active mandates

Director	Mandates in this company	Period
JAN VALKHOF	Director01/01/2025 → 30/06/2031
A.J. DE HAAS	Director29/06/2018 → 30/06/2030

Ended mandates

Director	Mandates in this company	Period
L.J.M. GRAFF	Director29/06/2018 → 31/12/2024
H.M. VERMEULEN	Director23/06/2021 → 13/04/2027

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	28/07/2026	11/07/2025	19/07/2024	26/07/2023	07/07/2022	15/07/2021
General meeting	30/06/2026	30/06/2025	28/06/2024	30/06/2023	30/06/2022	30/06/2021
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, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	28/07/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	11/07/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	19/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	26/07/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	07/07/2022	Dutch	PDF
Full model	31/12/2020	30/06/2021	15/07/2021	Dutch	PDF
Full model	31/12/2019	30/06/2020	22/07/2020	Dutch	PDF
Full model	31/12/2018	28/06/2019	14/07/2019	Dutch	PDF
Full model	31/12/2017	29/06/2018	06/07/2018	Dutch	PDF
Full model	31/12/2016	26/05/2017	12/06/2017	Dutch	PDF
Full model	31/12/2015	09/05/2016	19/05/2016	Dutch	PDF
Full model	31/12/2014	22/05/2015	15/06/2015	Dutch	PDF
Full model	31/12/2013	06/06/2014	17/07/2014	Dutch	PDF
Full model	31/12/2012	12/06/2013	05/07/2013	Dutch	PDF
Full model	31/12/2011	20/07/2012	09/08/2012	Dutch	PDF
Full model	31/12/2010	31/10/2011	24/11/2011	Dutch	PDF
Full model	31/12/2009	01/06/2010	09/07/2010	Dutch	PDF
Full model	31/12/2008	02/10/2009	22/10/2009	Dutch	PDF
Full model	31/12/2007	31/08/2008	09/09/2008	Dutch	PDF
Full model	31/12/2006	31/07/2007	22/08/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 · 8 ended

Active mandates

Director	Mandates in this company	Period
JAN VALKHOF	Director01/01/2025 → 30/06/2031
A.J. DE HAAS	Director29/06/2018 → 30/06/2030

Ended mandates

Director	Mandates in this company	Period
L.J.M. GRAFF	Director29/06/2018 → 31/12/2024
H.M. VERMEULEN	Director23/06/2021 → 13/04/2027

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Other22/01/2026
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING
PDF
Mandates10/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other13/11/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING
PDF
Capital / shares08/08/2024
KAPITAAL - AANDELEN
PDF
Mandates15/05/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/09/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/08/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/07/2015
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

Incorporation1944

Name

Registered office

Annual accounts

Filings20 filings

Mandates

JAN VALKHOF

A.J. DE HAAS

L.J.M. GRAFF

H.M. VERMEULEN

R.J.M. LEMPENS

R. J.M. Lempens

RoelJ.M. Lempens

Roel J.M. Lempens

F.J. Storm van Leeuwen

H. Vanhoudt

196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025202620272028202920302031

Smurfit Westrock Recovered Fiber BelgiumSMURFIT KAPPA RECYCLING NV

Schijnpoortweg 135, 2170 Merksem (Antwerp)

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Schijnpoortweg 135, 2170 Merksem (Antwerp)Current	accounts 2021 → 2025	Accounts 2025 · 2026-00340422

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
Smurfit Westrock Recovered Fiber BelgiumCurrent	accounts 2025	Accounts 2025 · 2026-00340422
SMURFIT WESTROCK RECYCLING NV	accounts 2024	Accounts 2024 · 2025-00257709
SMURFIT KAPPA RECYCLING NV	accounts 2006 → 2023	Accounts 2023 · 2024-00262485

Events

2025
Annual accounts 2025-411,3 k €↓
2025
Name changeSmurfit Westrock Recovered Fiber Belgium
2024
Annual accounts 202443,8 k €↓
2024
Name changeSMURFIT WESTROCK RECYCLING NV
2023
Annual accounts 202385 k €↓
2022
Annual accounts 2022252,8 k €↓
2021
Annual accounts 2021504,2 k €↑
2020
Annual accounts 2020181,8 k €↑
2019
Annual accounts 2019143,5 k €↓
2018
Annual accounts 2018371,1 k €↑
2017
Annual accounts 201769,5 k €↑
2016
Annual accounts 2016-167,3 k €↓
2015
Annual accounts 201562,7 k €↑
2014
Annual accounts 201417,3 k €↓
2013
Annual accounts 201376,8 k €↑
2012
Annual accounts 2012-166,5 k €↓
2011
Annual accounts 2011-48,8 k €↓
2010
Annual accounts 2010199 k €↑
2009
Annual accounts 2009-106,9 k €↓
2008
Annual accounts 200838,6 k €↓
2007
Annual accounts 2007155,9 k €↓
2006
Annual accounts 2006191,9 k €
19/10/1944
IncorporationPublic limited company

Smurfit Westrock Recovered Fiber Belgium

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

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