ACTIVE

J. Cortès Cigars

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Financial year 2025 · Closed on 31/12/2025

Net result2,8 M €+1 486,4 %over 1 year

Revenue88,1 M €+3,4 %over 1 year

Equity52,8 M €+20,2 %over 1 year

Workforce125,8 ETP-3,0 %over 1 year

Identity

Source · BCE/KBO

J. Cortès Cigars is a Public limited company incorporated in 1968. Its main activity is: Manufacture of tobacco products. Its registered office is in Zwevegem. It employs on average 125,8 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0405.450.102
Incorporation: 01/01/1968
Legal form: Public limited company
Registered office: Pannenbakkersstraat(M) 1
8552 Zwevegem · FlandreSee on map
Contributed capital: 6 150 000,00 €
Latest accounts: 31/12/2025
Average workforce: 125,8 ETP

Activities (NACE)

12000Manufacture of tobacco products· main 12000Manufacture of tobacco products 16000Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials 46350Wholesale of tobacco products 46350Wholesale of tobacco products 51350Air transport

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 21 filings

Trend over 9 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	88,1 M €	+3.4%	85,2 M €	+5.8%	80,5 M €	+8.7%	74,1 M €	+18.0%	62,8 M €
EBITDA	7,9 M €	+5.0%	7,5 M €	+144%	3,1 M €	-19.3%	3,8 M €	+77.5%	2,1 M €
Operating result	5 M €	+9.6%	4,6 M €	+282%	1,2 M €	-43.5%	2,1 M €	+205%	690,1 k €
Net result	2,8 M €	+1486%	178,2 k €	-59.3%	437,8 k €	-84.8%	2,9 M €	+768%	331,1 k €
Balance sheet
Equity	52,8 M €	+20.2%	43,9 M €	-14.4%	51,3 M €	+0.9%	50,9 M €	+6.0%	48 M €
Total assets	93,3 M €	+2.4%	91,1 M €	-10.0%	101,2 M €	+10.5%	91,6 M €	+18.6%	77,2 M €
Cash	370,9 k €	-63.4%	1 M €	+166%	380,9 k €	-39.2%	626,7 k €	-78.3%	2,9 M €
Debts	39,8 M €	-14.9%	46,8 M €	-5.5%	49,6 M €	+23.7%	40,1 M €	+37.8%	29,1 M €
Other
Workforce	125,8 ETP	-3.0%	129,7 ETP	-2.1%	132,5 ETP	+3.7%	127,8 ETP	+2.6%	124,6 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 6 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
EIGEN KWEEK0552.956.814Represented by Frederik VANDERMARLIERE	Managing director01/07/2014 → 26/05/2029
Guido Vandermarliere	Director02/01/2016 → 26/05/2029Managing director07/11/2006 → 2011 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
LE FUMOIR0555.880.076Represented by Frederik Vandermarliere	Managing director02/01/2016 → 2022 accounts
Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises0429.053.863Represented by Dirk Van Loocke Thierry en Van Vlaenderen	Registered auditor25/05/2013 → 2013 accounts

Other companies at this address

Pannenbakkersstraat(M) 1 8552 Zwevegem

Company	CBE no.
De Ark● Active	0738.757.047
GROEP VCF● Active	1016.757.067
LE FUMOIR● Active	0555.880.076

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	09/06/2026	01/07/2025	08/05/2024	22/05/2023	27/06/2022	05/05/2021
General meeting	30/05/2026	31/05/2025	25/04/2024	27/04/2023	28/05/2022	24/04/2021
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, 21 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/05/2026	09/06/2026	Dutch	PDF
Full model	31/12/2024	31/05/2025	01/07/2025	Dutch	PDF
Full model	31/12/2023	25/04/2024	08/05/2024	Dutch	PDF
Full model	31/12/2022	27/04/2023	22/05/2023	Dutch	PDF
Full model	31/12/2021	28/05/2022	27/06/2022	Dutch	PDF
Full model	31/12/2020	24/04/2021	05/05/2021	Dutch	PDF
Full model	31/12/2019	30/05/2020	05/06/2020	Dutch	PDF
Full model	31/12/2018	16/05/2019	21/05/2019	Dutch	PDF
Full model	31/12/2017	26/05/2018	08/06/2018	Dutch	PDF
Full model	31/12/2016	27/05/2017	16/06/2017	Dutch	PDF
Full model	31/12/2015	28/05/2016	22/06/2016	Dutch	PDF
Full model	31/12/2014	30/05/2015	24/06/2015	Dutch	PDF
Full model	31/12/2013	31/05/2014	18/06/2014	Dutch	PDF
Full model	31/12/2012	25/05/2013	19/06/2013	Dutch	PDF
Full model	31/12/2011	26/05/2012	21/08/2012	Dutch	PDF
Full model	31/12/2010	28/05/2011	01/07/2011	Dutch	PDF
Full model	31/12/2009	29/05/2010	14/07/2010	Dutch	PDF
Full model	31/12/2008	09/06/2009	27/08/2009	Dutch	PDF
Full model	31/12/2007	10/06/2008	29/08/2008	Dutch	PDF
Consolidated accounts	31/12/2007	30/06/2008	29/08/2008	Dutch	PDF
Full model	31/12/2006	26/05/2007	10/07/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 31/12/2025

2 active · 6 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
EIGEN KWEEK0552.956.814Represented by Frederik VANDERMARLIERE	Managing director01/07/2014 → 26/05/2029
Guido Vandermarliere	Director02/01/2016 → 26/05/2029Managing director07/11/2006 → 2011 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
LE FUMOIR0555.880.076Represented by Frederik Vandermarliere	Managing director02/01/2016 → 2022 accounts
Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises0429.053.863Represented by Dirk Van Loocke Thierry en Van Vlaenderen	Registered auditor25/05/2013 → 2013 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Capital / shares19/12/2025
KAPITAAL - AANDELEN
PDF
Mandates08/08/2025
ONTSLAGEN - BENOEMINGEN - DIVERSEN
PDF
Restructuring23/10/2024
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring18/06/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
PDF
Mandates25/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/09/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/03/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/05/2019
ONTSLAGEN - BENOEMINGEN
PDF

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

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Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings9 filings

Mandates

EIGEN KWEEK

Guido Vandermarliere

LE FUMOIR

Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises

Cigars Holding Comm.VA

Marie-Thérèse Malysse

Frederik Vandermarliere

VDM INVEST

19681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026202720282029

J. Cortès Cigars

Pannenbakkersstraat(M) 1, 8552 Moen

Managing director

DirectorManaging director

Managing director

Registered auditor

Director

Managing director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Pannenbakkersstraat(M) 1, 8552 MoenCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00166714

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
J. Cortès CigarsCurrent	accounts 2007 → 2025	Accounts 2025 · 2026-00166714

Events

2025
Annual accounts 20252,8 M €↑
02/12/2025
augmentation_capital
02/12/2025
augmentation_capital
2024
Annual accounts 2024178,2 k €↓
04/06/2024
nominationEigen Kweek BV · bestuurder
2023
Annual accounts 2023437,8 k €↓
2022
Annual accounts 20222,9 M €↑
31/05/2022
reconductionBV BEDRIJFSREVISOR THIERRY VAN LOOCKE · commissaris
31/05/2022
reconductionBV VRC BEDRIJFSREVISOREN · commissaris
28/05/2022
nominationBV BEDRIJFSREVISOR THIERRY VAN LOOCKE · commissaris
2021
Annual accounts 2021331,1 k €↓
2010
Annual accounts 20101,6 M €↑
2009
Annual accounts 20091,3 M €↓
2008
Annual accounts 20081,5 M €↑
2007
Annual accounts 20071,4 M €
01/01/1968
IncorporationPublic limited company

J. Cortès Cigars

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