ACTIVE

Soudal

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Financial year 2025 · closed on 31/12/2025

Net result

16,7 M €

-42.9% YoY

Revenue

768,5 M €

+5.0% YoY

Equity

158,2 M €

-3.5% YoY

Workforce

1 148,1 ETP

+12.5% YoY

What does Soudal do?

Soudal is a Public limited company incorporated in 1968. Its registered office is in Turnhout. It employs on average 1 148,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0404.914.028

Incorporation

01/01/1968

Legal form

Public limited company

Registered office

Everdongenlaan 20
2300 Turnhout · FlandreSee on map

Contributed capital

2 100 000,00 €

Latest accounts

31/12/2025

Average workforce

1 148,1 ETP

Joint committees (2)

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2023		2022		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	768,5 M €	+5.0%	732,2 M €	-2.5%	750,7 M €	+41.4%	531 M €	+4.0%	510,5 M €	+5.4%	484,2 M €	+8.1%	448 M €	+9.5%	409,3 M €	+4.7%	390,8 M €	+4.6%	373,7 M €	+9.4%	341,7 M €	+3.6%	330 M €	+6.3%	310,5 M €	+19.0%	260,8 M €	+9.6%	238 M €	-11.0%	267,5 M €	+1.7%	263,2 M €	+11.9%	235,1 M €
EBITDA	66,5 M €	-7.4%	71,8 M €	+189%	24,9 M €	-63.0%	67,3 M €	+14.6%	58,7 M €	+74.0%	33,7 M €	+17.9%	28,6 M €	-16.2%	34,1 M €	+34.3%	25,4 M €	-5.7%	26,9 M €	+16.2%	23,2 M €	+2.9%	22,5 M €	+20.6%	18,7 M €	-10.6%	20,9 M €	+22.2%	17,1 M €	-2.3%	17,5 M €	+19.7%	14,6 M €	+11.1%	13,2 M €
Operating result	31,1 M €	-19.2%	38,5 M €	+11052%	-351,2 k €	-101%	47 M €	+35.2%	34,8 M €	+88.7%	18,4 M €	-14.8%	21,6 M €	-16.7%	26 M €	+56.3%	16,6 M €	-11.8%	18,8 M €	+28.3%	14,7 M €	-1.3%	14,9 M €	+21.4%	12,3 M €	-19.9%	15,3 M €	+5.2%	14,5 M €	+20.6%	12,1 M €	+20.8%	10 M €	+9.0%	9,2 M €
Net result	16,7 M €	-42.9%	29,2 M €	+1039%	-3,1 M €	-111%	28,7 M €	+1.1%	28,4 M €	+97.6%	14,4 M €	-14.3%	16,8 M €	+21.9%	13,8 M €	+46.9%	9,4 M €	-29.8%	13,3 M €	+41.6%	9,4 M €	-14.0%	11 M €	+38.5%	7,9 M €	-39.0%	13 M €	+26.0%	10,3 M €	+160%	4 M €	-12.4%	4,5 M €	-33.6%	6,8 M €
Balance sheet
Equity	158,2 M €	-3.5%	164 M €	-12.2%	186,8 M €	+7.7%	173,4 M €	+19.8%	144,7 M €	+24.4%	116,4 M €	+6.6%	109,1 M €	+18.1%	92,4 M €	+7.7%	85,8 M €	+2.7%	83,5 M €	+9.5%	76,3 M €	+10.7%	68,9 M €	+14.9%	60 M €	+10.8%	54,1 M €	+27.2%	42,5 M €	+26.5%	33,6 M €	+8.3%	31,1 M €	+11.2%	28 M €
Total assets	604,4 M €	+7.1%	564,4 M €	-10.8%	632,8 M €	+61.6%	391,5 M €	+11.2%	352,1 M €	+5.2%	334,6 M €	+13.4%	295,1 M €	+28.6%	229,4 M €	+9.2%	210,2 M €	+15.0%	182,7 M €	-1.0%	184,5 M €	+16.9%	157,9 M €	+10.0%	143,5 M €	+15.9%	123,8 M €	+16.4%	106,4 M €	-2.1%	108,6 M €	-0.6%	109,3 M €	+6.0%	103,2 M €
Cash	6,7 M €	+7.3%	6,2 M €	+18.7%	5,2 M €	-26.0%	7,1 M €	-1.9%	7,2 M €	+407%	1,4 M €	-66.9%	4,3 M €	-55.2%	9,6 M €	+463%	1,7 M €	-45.2%	3,1 M €	-40.8%	5,3 M €	+76.6%	3 M €	-9.0%	3,3 M €	+185%	1,2 M €	-83.0%	6,8 M €	+314%	1,6 M €	-18.9%	2 M €	-43.6%	3,6 M €
Debts	438,3 M €	+11.6%	392,8 M €	-10.5%	439 M €	+105%	214 M €	+5.4%	203 M €	-5.2%	214,1 M €	+17.9%	181,6 M €	+40.3%	129,5 M €	+10.8%	116,9 M €	+22.8%	95,2 M €	-8.6%	104,2 M €	+22.3%	85,2 M €	+7.5%	79,3 M €	+22.1%	64,9 M €	+7.6%	60,3 M €	-15.4%	71,3 M €	-4.8%	74,9 M €	+5.2%	71,2 M €
Other
Workforce	1 148,1 ETP	+12.5%	1 020,9 ETP	-1.0%	1 031,2 ETP	+7.5%	958,9 ETP	+6.2%	902,7 ETP	+2.3%	882,1 ETP	+5.9%	832,9 ETP	+1.8%	817,8 ETP	-2.1%	835,0 ETP	+4.3%	800,3 ETP	+1.0%	792,2 ETP	+3.8%	763,4 ETP	+3.8%	735,4 ETP	+3.9%	707,9 ETP	+3.2%	686,0 ETP	+2.3%	670,8 ETP	-0.7%	675,5 ETP	+11.6%	605,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 M€ and 500 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 27 ended

Active mandates

Jurgen Vandervelden

Director · until 02 juin 2028

Active

Soudal BV BO

Director · until 02 juin 2028

Represented by Dirk Coorevits

Active

SOUDAL HOLDING

Managing director · until 02 juin 2028 · 0467.913.053

Represented by Victor Swerts

Active

Ended mandates

Jurgen Vandervelden

Director · since 01 juillet 2022 · until 02 juin 2028

Ended

FLEMISH INVESTMENT CORPORATION

Director · since 03 juin 2016 · until 03 juin 2022 · 0473.761.856

Represented by Jurgen Vandervelden

Ended

Soudal BV BO

Director · since 03 juin 2016 · until 03 juin 2022

Represented by Dirk Coorevits

Ended

SOUDAL HOLDING

Managing director · since 03 juin 2016 · until 03 juin 2022 · 0467.913.053

Represented by Victor Swerts

Ended

At this address

Other companies at this address

Company	CBE no.
SOUDAL HOLDING● Active	0467.913.053

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	10/08/2026	22/07/2025	26/07/2024	14/07/2023	15/07/2022	30/07/2021
General meeting	26/06/2026	09/07/2025	05/07/2024	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

Ratios

Financial ratios

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Filings

Annual accounts filings

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/06/2026	10/08/2026	Dutch	PDF
Full model	31/12/2024	09/07/2025	22/07/2025	Dutch	PDF
Full model	31/12/2023	05/07/2024	26/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	14/07/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	15/07/2022	Dutch	PDF
Full model	31/12/2020	30/06/2021	30/07/2021	Dutch	PDF
Full model	31/12/2019	26/06/2020	24/07/2020	Dutch	PDF
Full modelCorrection	31/12/2018	26/06/2020	24/07/2020	Dutch	PDF
Full model	31/12/2018	28/06/2019	26/07/2019	Dutch	PDF
Full model	31/12/2017	31/07/2018	29/08/2018	Dutch	PDF
Full model	31/12/2016	02/06/2017	31/07/2017	Dutch	PDF
Full model	31/12/2015	03/06/2016	18/07/2016	Dutch	PDF
Full model	31/12/2014	05/06/2015	14/07/2015	Dutch	PDF
Full model	31/12/2013	06/06/2014	30/06/2014	Dutch	PDF
Full modelCorrection	31/12/2012	07/06/2013	02/07/2013	Dutch	PDF
Full model	31/12/2012	07/06/2013	28/06/2013	Dutch	PDF
Full model	31/12/2011	01/06/2012	27/06/2012	Dutch	PDF
Full model	31/12/2010	03/06/2011	22/06/2011	Dutch	PDF
Full model	31/12/2009	04/06/2010	02/07/2010	Dutch	PDF
Full model	31/12/2008	05/06/2009	19/06/2009	Dutch	PDF
Full model	31/12/2007	06/06/2008	03/07/2008	Dutch	PDF
Full model	31/12/2006	01/06/2007	25/07/2007	Dutch	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 27 ended

Active mandates

Jurgen Vandervelden

Director · until 02 juin 2028

Active

Soudal BV BO

Director · until 02 juin 2028

Represented by Dirk Coorevits

Active

SOUDAL HOLDING

Managing director · until 02 juin 2028 · 0467.913.053

Represented by Victor Swerts

Active

Ended mandates

Jurgen Vandervelden

Director · since 01 juillet 2022 · until 02 juin 2028

Ended

FLEMISH INVESTMENT CORPORATION

Director · since 03 juin 2016 · until 03 juin 2022 · 0473.761.856

Represented by Jurgen Vandervelden

Ended

Soudal BV BO

Director · since 03 juin 2016 · until 03 juin 2022

Represented by Dirk Coorevits

Ended

SOUDAL HOLDING

Managing director · since 03 juin 2016 · until 03 juin 2022 · 0467.913.053

Represented by Victor Swerts

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates31/12/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/08/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/12/2021
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring07/12/2021
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring03/12/2021
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Restructuring08/07/2021
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring08/07/2021
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring14/07/2020
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
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 202516,7 M €↓
05/07/2024
reconductionSteven Vyvey — commissaris
2023
Annual accounts 202329,2 M €↑
2022
Annual accounts 2022-3,1 M €↓
30/06/2022
reconductionSwerts Victor — bestuurder
30/06/2022
reconductionCoorevits Dirk — bestuurder
30/06/2022
nominationJurgen Vandervelden — bestuurder
2020
Annual accounts 202028,7 M €↑
2019
Annual accounts 201928,4 M €↑
2018
Annual accounts 201814,4 M €↓
2017
Annual accounts 201716,8 M €↑
2016
Annual accounts 201613,8 M €↑
2015
Annual accounts 20159,4 M €↓
2014
Annual accounts 201413,3 M €↑
2013
Annual accounts 20139,4 M €↓
2012
Annual accounts 201211 M €↑
2011
Annual accounts 20117,9 M €↓
2010
Annual accounts 201013 M €↑
2009
Annual accounts 200910,3 M €↑
2008
Annual accounts 20084 M €↓
2007
Annual accounts 20074,5 M €↓
2006
Annual accounts 20066,8 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

Soudal

Overview

What does Soudal 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