ACTIVE

BELGIAN GREETINGS

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Financial year 2025 · Closed on 31/12/2025

Net result
348,6 k €
-72,9 %over 1 year
Gross margin
1,2 M €
-43,1 %over 1 year
Equity
3,7 M €
+10,5 %over 1 year
Workforce
9,5 ETP
+5,6 %over 1 year

Identity

Source · BCE/KBO

BELGIAN GREETINGS is a Private limited company incorporated in 1973. Its main activity is: Wholesale of other household goods. Its registered office is in Sint-Niklaas. It employs on average 9,5 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0413.122.010
Incorporation
29/03/1973
Legal form
Private limited company
Registered office
Industriepark-West 57
9100 Sint-Niklaas · FlandreSee on map
Contributed capital
1 518 592,01 €
Latest accounts
31/12/2025
Average workforce
9,5 ETP
Joint committees (5)
  • 100
  • 1000
  • 200
  • 2000
  • 218
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 20 filings

Trend over 19 financial years

20252024202320222021
Income statement
Gross margin1,2 M €2,2 M €1,2 M €1 M €321,9 k €
EBITDA617,5 k €1,6 M €607,8 k €499,2 k €-190,2 k €
Operating result764,5 k €1,5 M €577,8 k €428,9 k €-313,5 k €
Net result348,6 k €1,3 M €313,2 k €331,8 k €-171,5 k €
Balance sheet
Equity3,7 M €3,3 M €2 M €1,7 M €1,4 M €
Total assets6,8 M €7 M €6,1 M €5,6 M €4,4 M €
Cash2,3 M €2,6 M €1,9 M €1,4 M €138,4 k €
Debts3,1 M €3,5 M €4,1 M €3,9 M €3 M €
Other
Workforce9,5 ETP9,0 ETP9,8 ETP10,2 ETP8,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

1 active · 7 ended

Active mandates

Five Aces

Director · since 02 mars 2012 · 0842.504.287

Represented by Paul Borms

Active

Ended mandates

Five Aces

Director · since 02 mars 2012 · 0842.504.287

Represented by Paul BORMS

Ended
Five Aces

Manager · since 02 mars 2012 · 0842.504.287

Represented by Paul Borms

Ended
Five Aces

Director · since 02 mars 2012 · 0842.504.287

Represented by Paul Borms

Ended
Five Aces

Manager · since 02 mars 2012 · 0842.504.287

Represented by Paul Borms

Ended

Full financial information

Source · NBB
202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date07/05/202620/06/202513/06/202404/07/202308/07/202207/07/2021
General meeting05/05/202611/06/202512/06/202414/06/202330/06/202209/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings
ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202505/05/202607/05/2026DutchPDF
Abridged model31/12/202411/06/202520/06/2025DutchPDF
Abridged model31/12/202312/06/202413/06/2024DutchPDF
Abridged model31/12/202214/06/202304/07/2023DutchPDF
Abridged model31/12/202130/06/202208/07/2022DutchPDF
Abridged model31/12/202009/06/202107/07/2021DutchPDF
Abridged model31/12/201930/06/202019/08/2020DutchPDF
Abridged model31/12/201828/06/201921/08/2019DutchPDF
Abridged model31/12/201730/06/201826/07/2018DutchPDF
Abridged model31/12/201630/06/201731/07/2017DutchPDF
Abridged model31/12/201530/06/201605/08/2016DutchPDF
Abridged model31/12/201430/06/201527/08/2015DutchPDF
Abridged model31/12/201311/06/201427/06/2014DutchPDF
Abridged model31/12/201228/08/201330/08/2013DutchPDF
Abridged model31/12/201113/06/201206/07/2012DutchPDF
Abridged model31/12/201008/06/201117/06/2011DutchPDF
Abridged model31/12/200906/07/201008/07/2010DutchPDF
Abridged model31/12/200831/07/200921/08/2009DutchPDF
Abridged model31/12/200711/06/200826/06/2008DutchPDF
Abridged model31/12/200631/07/200731/08/2007DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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

1 active · 7 ended

Active mandates

Five Aces

Director · since 02 mars 2012 · 0842.504.287

Represented by Paul Borms

Active

Ended mandates

Five Aces

Director · since 02 mars 2012 · 0842.504.287

Represented by Paul BORMS

Ended
Five Aces

Manager · since 02 mars 2012 · 0842.504.287

Represented by Paul Borms

Ended
Five Aces

Director · since 02 mars 2012 · 0842.504.287

Represented by Paul Borms

Ended
Five Aces

Manager · since 02 mars 2012 · 0842.504.287

Represented by Paul Borms

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Restructuring19/09/2024
    BENAMING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Restructuring13/05/2024
    WIJZIGING RECHTSVORM - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Restructuring13/09/2012
    BENAMING - MAATSCHAPPELIJKE ZETEL - DOEL - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Mandates06/09/2012
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Restructuring14/06/2012
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Capital / shares28/03/2012
    KAPITAAL - AANDELEN
    PDF
  • Mandates27/03/2012
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates19/12/2008
    BENAMING - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
    PDF

Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025348,6 k €↓
  2. 2024
    Annual accounts 20241,3 M €↑
  3. 2024
    Name changeBelgian Greetings
  4. 2023
    Annual accounts 2023313,2 k €↓
  5. 2022
    Annual accounts 2022331,8 k €↑
  6. 2021
    Annual accounts 2021-171,5 k €↓
  7. 2021
    Name changeCartuna Greetings
  8. 2020
    Annual accounts 2020267,4 k €↓
  9. 2019
    Annual accounts 2019305,5 k €↓
  10. 2018
    Annual accounts 2018390,6 k €↑
  11. 2017
    Annual accounts 2017340,1 k €↑
  12. 2016
    Annual accounts 2016139,1 k €↑
  13. 2015
    Annual accounts 2015-55,1 k €↑
  14. 2014
    Annual accounts 2014-1,4 M €↓
  15. 2013
    Annual accounts 2013-138,5 k €↓
  16. 2011
    Annual accounts 20111,1 M €↑
  17. 2010
    Annual accounts 201072,9 k €↑
  18. 2009
    Annual accounts 2009-12,3 k €↓
  19. 2008
    Annual accounts 200864,3 k €↓
  20. 2007
    Annual accounts 200776,3 k €↑
  21. 2006
    Annual accounts 200654,8 k €
  22. 29/03/1973
    IncorporationPrivate limited company