ACTIVE

C.S.M.

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Financial year 2025 · closed on 31/12/2025

Net result

6,2 M €

+229.4% YoY

Revenue

32,4 M €

+12.0% YoY

Equity

15,1 M €

+7.8% YoY

Workforce

127,6 ETP

-2.3% YoY

What does C.S.M. do?

C.S.M. is a Public limited company incorporated in 1976. Its main activity is: Manufacture of metal structures and parts of structures. Its registered office is in Hamont-Achel. It employs on average 127,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0416.505.231

Incorporation

04/11/1976

Legal form

Public limited company

Registered office

Hamonterweg 103
3930 Hamont-Achel · FlandreSee on map

Contributed capital

1 525 000,00 €

Latest accounts

31/12/2025

Average workforce

127,6 ETP

Activities (NACE)

25110Manufacture of metal structures and parts of structures· main 25110Manufacture of metal structures and parts of structures 28110Manufacture of engines and turbines, except aircraft, vehicle and cycle engines

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	32,4 M €	+12.0%	28,9 M €	+38.9%	20,8 M €	-29.5%	29,5 M €	+8.9%	27,1 M €	+28.8%	21 M €	-12.9%	24,1 M €	-3.2%	24,9 M €	+50.4%	16,6 M €	-15.2%	19,6 M €	-4.0%	20,4 M €	+8.8%	18,7 M €	-7.3%	20,2 M €	+1.4%	19,9 M €	+5.6%	18,9 M €	-19.2%	23,3 M €	+1.8%	22,9 M €	+4.2%	22 M €	+19.2%	18,4 M €
EBITDA	8,8 M €	+197%	3 M €	+9.8%	2,7 M €	-3.4%	2,8 M €	-10.4%	3,1 M €	+40.6%	2,2 M €	+27.2%	1,7 M €	+40.0%	1,2 M €	-35.8%	1,9 M €	-15.3%	2,3 M €	-6.7%	2,5 M €	+184%	867,1 k €	-63.1%	2,3 M €	-31.1%	3,4 M €	+20.6%	2,8 M €	+19.2%	2,4 M €	+164%	899,2 k €	+5.2%	854,5 k €	+122%	384,9 k €
Operating result	8,2 M €	+250%	2,3 M €	+16.3%	2 M €	-1.1%	2 M €	-4.4%	2,1 M €	+78.1%	1,2 M €	+63.9%	726,7 k €	+104%	356,7 k €	-69.5%	1,2 M €	-33.2%	1,7 M €	-7.8%	1,9 M €	+383%	393 k €	-79.1%	1,9 M €	-35.7%	2,9 M €	+22.8%	2,4 M €	+19.7%	2 M €	+258%	554,9 k €	-8.4%	605,6 k €	+162%	231 k €
Net result	6,2 M €	+229%	1,9 M €	+13.2%	1,7 M €	+10.6%	1,5 M €	-1.9%	1,5 M €	+77.3%	863,2 k €	+72.4%	500,6 k €	+84.1%	271,9 k €	-63.0%	735,5 k €	-36.5%	1,2 M €	-11.8%	1,3 M €	+390%	268 k €	-79.7%	1,3 M €	-42.1%	2,3 M €	+26.5%	1,8 M €	-63.8%	5 M €	+880%	508,8 k €	-0.0%	509,1 k €	+158%	197,1 k €
Balance sheet
Equity	15,1 M €	+7.8%	14 M €	+9.8%	12,8 M €	+9.5%	11,7 M €	+9.4%	10,7 M €	+10.7%	9,6 M €	+6.4%	9,1 M €	+3.9%	8,7 M €	+2.1%	8,5 M €	+6.1%	8,1 M €	-14.3%	9,4 M €	-1.0%	9,5 M €	+1.9%	9,3 M €	+10.1%	8,5 M €	+24.7%	6,8 M €	+26.3%	5,4 M €	+14.1%	4,7 M €	+5.6%	4,5 M €	+6.0%	4,2 M €
Total assets	22,7 M €	-10.6%	25,4 M €	+7.8%	23,6 M €	+0.4%	23,5 M €	+12.7%	20,9 M €	+16.6%	17,9 M €	+5.1%	17 M €	-15.8%	20,2 M €	+42.6%	14,2 M €	-19.4%	17,6 M €	-3.5%	18,2 M €	-16.0%	21,7 M €	+15.8%	18,7 M €	+1.1%	18,5 M €	+4.5%	17,7 M €	+8.0%	16,4 M €	+7.1%	15,3 M €	+19.6%	12,8 M €	-0.2%	12,8 M €
Cash	1,2 M €	-19.2%	1,5 M €	-5.7%	1,6 M €	+0.9%	1,6 M €	-22.0%	2 M €	-37.9%	3,3 M €	-40.0%	5,4 M €	+953%	515,5 k €	-70.6%	1,8 M €	-50.4%	3,5 M €	+168%	1,3 M €	-0.0%	1,3 M €	+203%	437,1 k €	-61.6%	1,1 M €	+22.7%	927,2 k €	+9.4%	847,4 k €	-34.6%	1,3 M €	+54.6%	838,1 k €	+20.9%	693 k €
Debts	7,5 M €	-33.7%	11,3 M €	+5.6%	10,7 M €	-8.9%	11,7 M €	+16.4%	10,1 M €	+24.0%	8,1 M €	+4.5%	7,8 M €	-31.0%	11,3 M €	+105%	5,5 M €	-41.4%	9,4 M €	+9.0%	8,6 M €	-23.9%	11,3 M €	+29.6%	8,7 M €	-10.8%	9,8 M €	-9.0%	10,8 M €	+1.3%	10,6 M €	+3.1%	10,3 M €	+27.1%	8,1 M €	-4.0%	8,4 M €
Other
Workforce	127,6 ETP	-2.3%	130,6 ETP	-4.3%	136,5 ETP	-2.7%	140,3 ETP	-2.6%	144,0 ETP	0.0%	144,0 ETP	-1.7%	146,5 ETP	-0.7%	147,6 ETP	-1.6%	150,0 ETP	-0.3%	150,4 ETP	-4.0%	156,6 ETP	+1.4%	154,4 ETP	-0.4%	155,0 ETP	+3.6%	149,6 ETP	-2.1%	152,8 ETP	+12.7%	135,6 ETP	+48.2%	91,5 ETP	-1.7%	93,1 ETP	+2.4%	90,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Governance

Board of directors

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

Active mandates

DAB Management

Director · since 06 mai 2024 · until 02 mai 2028 · 0811.829.622

Active

QUATROBEL

Director · since 06 mai 2024 · until 02 mai 2028 · 0693.778.939

Active

John Cracco

Director · since 22 décembre 2023 · until 22 décembre 2029

Active

Ended mandates

Yannick Buyck

Director · since 22 décembre 2023 · until 22 décembre 2029

Ended

FERTOR

Director · since 31 mai 2021 · until 27 mai 2024 · 0870.717.332

Represented by Manuel BUYCK

Ended

Tower Consulting

Director · since 01 janvier 2020 · until 06 mai 2024 · 0657.914.574

Represented by Ingeborg PLOCHAET

Ended

Tower Consulting

Director · since 01 janvier 2020 · until 27 mai 2024 · 0657.914.574

Represented by Ingeborg PLOCHAET

Ended

At this address

Other companies at this address

Company	CBE no.
C.S.M. - ZWARE METAALBOUW● Active	0432.411.845
Hamont-Achel Steel Structures● Active	1010.526.501

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	22/05/2026	22/05/2025	30/05/2024	15/06/2023	22/06/2022	23/06/2021
General meeting	04/05/2026	05/05/2025	06/05/2024	30/05/2023	30/05/2022	31/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	04/05/2026	22/05/2026	Dutch	PDF
Full model	31/12/2024	05/05/2025	22/05/2025	Dutch	PDF
Full model	31/12/2023	06/05/2024	30/05/2024	Dutch	PDF
Full model	31/12/2022	30/05/2023	15/06/2023	Dutch	PDF
Full model	31/12/2021	30/05/2022	22/06/2022	Dutch	PDF
Full model	31/12/2020	31/05/2021	23/06/2021	Dutch	PDF
Full model	31/12/2019	25/05/2020	04/06/2020	Dutch	PDF
Full model	31/12/2018	27/05/2019	20/06/2019	Dutch	PDF
Full model	31/12/2017	28/05/2018	26/06/2018	Dutch	PDF
Full model	31/12/2016	29/05/2017	22/06/2017	Dutch	PDF
Full model	31/12/2015	30/05/2016	14/06/2016	Dutch	PDF
Full model	31/12/2014	26/05/2015	04/06/2015	Dutch	PDF
Full model	31/12/2013	26/05/2014	24/06/2014	Dutch	PDF
Full model	31/12/2012	27/05/2013	12/06/2013	Dutch	PDF
Full model	31/12/2011	29/05/2012	04/06/2012	Dutch	PDF
Full model	31/12/2010	30/05/2011	21/06/2011	Dutch	PDF
Full model	31/12/2009	31/05/2010	21/06/2010	Dutch	PDF
Full model	31/12/2008	25/05/2009	22/06/2009	Dutch	PDF
Full model	31/12/2007	26/05/2008	17/06/2008	Dutch	PDF
Full model	31/12/2006	29/05/2007	20/06/2007	Dutch	PDF

Estimate

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.

Governance

Board of directors

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

Active mandates

DAB Management

Director · since 06 mai 2024 · until 02 mai 2028 · 0811.829.622

Active

QUATROBEL

Director · since 06 mai 2024 · until 02 mai 2028 · 0693.778.939

Active

John Cracco

Director · since 22 décembre 2023 · until 22 décembre 2029

Active

Ended mandates

Yannick Buyck

Director · since 22 décembre 2023 · until 22 décembre 2029

Ended

FERTOR

Director · since 31 mai 2021 · until 27 mai 2024 · 0870.717.332

Represented by Manuel BUYCK

Ended

Tower Consulting

Director · since 01 janvier 2020 · until 06 mai 2024 · 0657.914.574

Represented by Ingeborg PLOCHAET

Ended

Tower Consulting

Director · since 01 janvier 2020 · until 27 mai 2024 · 0657.914.574

Represented by Ingeborg PLOCHAET

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates25/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/06/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other25/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates28/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/08/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/02/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/02/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/03/2020
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 20256,2 M €↑
2024
Annual accounts 20241,9 M €↑
2023
Annual accounts 20231,7 M €↑
2022
Annual accounts 20221,5 M €↓
2021
Annual accounts 20211,5 M €↑
2020
Annual accounts 2020863,2 k €↑
2019
Annual accounts 2019500,6 k €↑
2018
Annual accounts 2018271,9 k €↓
2017
Annual accounts 2017735,5 k €↓
2016
Annual accounts 20161,2 M €↓
2015
Annual accounts 20151,3 M €↑
2013
Annual accounts 2013268 k €↓
2012
Annual accounts 20121,3 M €↓
2011
Annual accounts 20112,3 M €↑
2010
Annual accounts 20101,8 M €↓
2009
Annual accounts 20095 M €↑
2008
Annual accounts 2008508,8 k €↓
2007
Annual accounts 2007509,1 k €↑
2006
Annual accounts 2006197,1 k €
04/11/1976
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

C.S.M.

Overview

What does C.S.M. 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