ACTIVE

Zuidnatie

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Financial year 2025 · closed on 31/12/2025

Net result

2,6 M €

+256.3% YoY

Revenue

48,6 M €

+12.0% YoY

Equity

12,4 M €

+24.4% YoY

Workforce

37,5 ETP

-2.1% YoY

What does Zuidnatie do?

Zuidnatie is a Public limited company incorporated in 1954. Its registered office is in Antwerpen. It employs on average 37,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0404.813.266

Incorporation

28/12/1954

Legal form

Public limited company

Registered office

Antwerpsebaan 1
2040 Antwerpen · FlandreSee on map

Contributed capital

914 000,00 €

Latest accounts

31/12/2025

Average workforce

37,5 ETP

Joint committees (4)

140
14003
226
2260

Contacts

1 public detail availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

Health score

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Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	48,6 M €	+12.0%	43,4 M €	-5.2%	45,8 M €	+1.3%	45,3 M €	+40.4%	32,2 M €	+12.3%	28,7 M €	-6.9%	30,8 M €	+7.1%	28,8 M €	+4.7%	27,5 M €	+6.2%	25,9 M €	+1.3%	25,6 M €	-19.2%	31,6 M €	+9.7%	28,8 M €	+36.8%	21,1 M €	+4.3%	20,2 M €	-8.8%	22,2 M €	-11.4%	25,0 M €	+3.9%	24,1 M €	+3.0%	23,4 M €
EBITDA	6,0 M €	+219%	1,9 M €	-29.8%	2,7 M €	+45.0%	1,8 M €	+15.4%	1,6 M €	-11.1%	1,8 M €	-67.5%	5,5 M €	+165%	2,1 M €	-2.9%	2,1 M €	+112%	1,0 M €	-2.0%	1,0 M €	-46.6%	1,9 M €	+16.7%	1,7 M €	-5.9%	1,8 M €	+1.0%	1,7 M €	-26.6%	2,4 M €	-24.2%	3,1 M €	+83.1%	1,7 M €	+7.9%	1,6 M €
Operating result	3,8 M €	+319%	918,3 k €	-10.5%	1,0 M €	+117%	473,8 k €	+74.7%	271,1 k €	-51.8%	562,8 k €	-87.4%	4,5 M €	+160%	1,7 M €	-0.4%	1,7 M €	+207%	563,5 k €	+45.5%	387,4 k €	-64.9%	1,1 M €	+39.2%	792,3 k €	+58.4%	500,2 k €	+50.8%	331,6 k €	-72.4%	1,2 M €	-11.8%	1,4 M €	+458%	243,8 k €	+291%	-127,5 k €
Net result	2,6 M €	+256%	741,0 k €	-1.4%	751,6 k €	+57.1%	478,4 k €	+7815%	-6,2 k €	-103%	208,4 k €	-93.6%	3,3 M €	+169%	1,2 M €	+9.8%	1,1 M €	+218%	347,2 k €	+36.3%	254,6 k €	-75.4%	1,0 M €	+26.9%	815,1 k €	+187%	284,4 k €	+43.1%	198,8 k €	-77.6%	887,2 k €	-8.3%	967,5 k €	+202%	320,5 k €	+574%	-67,7 k €
Balance sheet
Equity	12,4 M €	+24.4%	10,0 M €	+2.5%	9,7 M €	+8.4%	9,0 M €	+0.9%	8,9 M €	-0.1%	8,9 M €	+6.3%	8,4 M €	+92.5%	4,3 M €	+38.6%	3,1 M €	-17.1%	3,8 M €	-6.3%	4,0 M €	+6.7%	3,8 M €	-25.1%	5,0 M €	-7.1%	5,4 M €	+5.5%	5,1 M €	+4.0%	4,9 M €	-11.0%	5,6 M €	+21.1%	4,6 M €	+7.5%	4,3 M €
Total assets	36,4 M €	+4.2%	35,0 M €	+38.2%	25,3 M €	-8.1%	27,5 M €	+3.6%	26,6 M €	+24.8%	21,3 M €	-14.8%	25,0 M €	+66.5%	15,0 M €	+2.4%	14,7 M €	+3.7%	14,1 M €	+8.0%	13,1 M €	-20.4%	16,4 M €	-17.9%	20,0 M €	+86.3%	10,8 M €	+12.4%	9,6 M €	-13.3%	11,0 M €	+6.6%	10,4 M €	+4.8%	9,9 M €	+3.0%	9,6 M €
Cash	2,0 M €	-52.8%	4,3 M €	+145%	1,7 M €	-63.7%	4,8 M €	+222%	1,5 M €	-10.3%	1,7 M €	-60.8%	4,2 M €	+53.3%	2,8 M €	+22.0%	2,3 M €	-11.5%	2,6 M €	+120%	1,2 M €	-49.4%	2,3 M €	+2911%	76,4 k €	-78.6%	357,8 k €	-29.6%	508,4 k €	+25.5%	405,2 k €	-8.6%	443,2 k €	+536%	69,7 k €	-65.4%	201,5 k €
Debts	20,6 M €	-5.5%	21,8 M €	+81.0%	12,1 M €	-20.3%	15,1 M €	+3.1%	14,7 M €	+58.3%	9,3 M €	-33.2%	13,9 M €	+50.1%	9,3 M €	-10.6%	10,4 M €	+7.5%	9,6 M €	+8.3%	8,9 M €	-26.2%	12,0 M €	-18.3%	14,7 M €	+188%	5,1 M €	+32.4%	3,9 M €	-23.2%	5,0 M €	+25.6%	4,0 M €	-11.2%	4,5 M €	-3.9%	4,7 M €
Other
Workforce	37,5 ETP	-2.1%	38,3 ETP	-3.3%	39,6 ETP	-2.0%	40,4 ETP	-2.7%	41,5 ETP	-11.5%	46,9 ETP	-11.7%	53,1 ETP	+5.1%	50,5 ETP	+6.3%	47,5 ETP	+13.4%	41,9 ETP	+9.4%	38,3 ETP	+7.6%	35,6 ETP	+1.4%	35,1 ETP	-9.1%	38,6 ETP	-4.7%	40,5 ETP	+1.3%	40,0 ETP	-2.9%	41,2 ETP	+19.1%	34,6 ETP	+7.1%	32,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 20 ended

Active mandates

Lucart

Director · since 13 décembre 2019 · until 20 juin 2030 · 0674.745.559

Represented by Stephanie Feys

Active

ZUIDNATIE HOLDING

Managing director · since 13 décembre 2019 · until 20 juin 2030 · 0423.535.355

Represented by Paul Feys

Active

Ended mandates

Lucart

Director · since 13 décembre 2019 · until 19 juin 2025 · 0674.745.559

Represented by Stéphanie Feys

Ended

Lucart

Director · since 13 décembre 2019 · until 19 juin 2031 · 0674.745.559

Represented by Stéphanie Feys

Ended

ZUIDNATIE HOLDING

Director · since 13 décembre 2019 · until 19 juin 2025 · 0423.535.355

Represented by Paul FEYS

Ended

ZUIDNATIE HOLDING

Managing director · since 13 décembre 2019 · until 19 juin 2025 · 0423.535.355

Represented by Paul Feys

Ended

At this address

Other companies at this address

Company	CBE no.
ANTRECO● Active	0433.178.739
ANTWERP RAILHOUSE● Active	0701.873.885
ATMOSAFE● Active	0836.661.028
BELGIAN CONTAINER MAINTENANCE & REPAIR● Active	0459.356.861
FLATRACO● Active	0428.834.822
FUMIPORT● Active	1017.499.019
ZUIDNATIE BEHEER● Active	0404.794.559
ZUIDNATIE BREAKBULK● Active	0894.302.584
ZUIDNATIE HOLDING● Active	0423.535.355
Zuidnatie Transport Services● Active	0543.268.987

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	30/06/2026	02/07/2025	09/07/2024	11/07/2023	11/07/2022	02/07/2021
General meeting	18/06/2026	05/06/2025	28/06/2024	30/06/2023	30/06/2022	17/06/2021
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

23 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	18/06/2026	30/06/2026	Dutch	PDF
Full model	31/12/2024	05/06/2025	02/07/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	09/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	11/07/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	11/07/2022	Dutch	PDF
Full model	31/12/2020	17/06/2021	02/07/2021	Dutch	PDF
Full model	31/12/2019	29/05/2020	15/06/2020	Dutch	PDF
Full modelCorrection	31/12/2018	06/06/2019	03/10/2019	Dutch	PDF
Full modelCorrection	31/12/2018	06/06/2019	09/07/2019	Dutch	PDF
Full model	31/12/2018	06/06/2019	03/07/2019	Dutch	PDF
Full modelCorrection	31/12/2017	28/06/2018	23/08/2018	Dutch	PDF
Full model	31/12/2017	28/06/2018	27/07/2018	Dutch	PDF
Full model	31/12/2016	01/06/2017	30/06/2017	Dutch	PDF
Full model	31/12/2015	30/06/2016	19/07/2016	Dutch	PDF
Full model	31/12/2014	30/06/2015	28/07/2015	Dutch	PDF
Full model	31/12/2013	30/06/2014	25/07/2014	Dutch	PDF
Full model	31/12/2012	30/06/2013	18/07/2013	Dutch	PDF
Full model	31/12/2011	30/06/2012	27/07/2012	Dutch	PDF
Full model	31/12/2010	30/06/2011	28/07/2011	Dutch	PDF
Full model	31/12/2009	30/06/2010	20/07/2010	Dutch	PDF
Full model	31/12/2008	04/06/2009	03/07/2009	Dutch	PDF
Full model	31/12/2007	05/06/2008	05/08/2008	Dutch	PDF
Full model	31/12/2006	07/06/2007	04/07/2007	Dutch	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 20 ended

Active mandates

Lucart

Director · since 13 décembre 2019 · until 20 juin 2030 · 0674.745.559

Represented by Stephanie Feys

Active

ZUIDNATIE HOLDING

Managing director · since 13 décembre 2019 · until 20 juin 2030 · 0423.535.355

Represented by Paul Feys

Active

Ended mandates

Lucart

Director · since 13 décembre 2019 · until 19 juin 2025 · 0674.745.559

Represented by Stéphanie Feys

Ended

Lucart

Director · since 13 décembre 2019 · until 19 juin 2031 · 0674.745.559

Represented by Stéphanie Feys

Ended

ZUIDNATIE HOLDING

Director · since 13 décembre 2019 · until 19 juin 2025 · 0423.535.355

Represented by Paul FEYS

Ended

ZUIDNATIE HOLDING

Managing director · since 13 décembre 2019 · until 19 juin 2025 · 0423.535.355

Represented by Paul Feys

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/03/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/09/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/09/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/01/2020
ONTSLAGEN - BENOEMINGEN
PDF
Registered office19/03/2019
MAATSCHAPPELIJKE ZETEL
PDF
Restructuring25/10/2018
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring03/07/2018
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates24/07/2017
ONTSLAGEN - BENOEMINGEN
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 20252,6 M €↑
2024
Annual accounts 2024741,0 k €↓
2023
Annual accounts 2023751,6 k €↑
2022
Annual accounts 2022478,4 k €↑
2021
Annual accounts 2021-6,2 k €↓
2020
Annual accounts 2020208,4 k €↓
2019
Annual accounts 20193,3 M €↑
2017
Annual accounts 20171,2 M €↑
2016
Annual accounts 20161,1 M €↑
2015
Annual accounts 2015347,2 k €↑
2014
Annual accounts 2014254,6 k €↓
2013
Annual accounts 20131,0 M €↑
2012
Annual accounts 2012815,1 k €↑
2011
Annual accounts 2011284,4 k €↑
2010
Annual accounts 2010198,8 k €↓
2009
Annual accounts 2009887,2 k €↓
2008
Annual accounts 2008967,5 k €↑
2007
Annual accounts 2007320,5 k €↑
2006
Annual accounts 2006-67,7 k €
28/12/1954
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

Zuidnatie

Overview

What does Zuidnatie do?

Trend over 19 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