ACTIVE

AHLSTROM MALMEDY S.A.

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Financial year 2025 · Closed on 31/12/2025

Net result-510,1 k €+79,7 %over 1 year

Revenue41,5 M €+15,7 %over 1 year

Equity6,5 M €+215,6 %over 1 year

Workforce111,5 ETP+6,5 %over 1 year

Identity

Source · BCE/KBO

AHLSTROM MALMEDY S.A. is a Public limited company incorporated in 1978. Its registered office is in Malmedy. It employs on average 111,5 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0418.148.588
Incorporation: 21/03/1978
Legal form: Public limited company
Registered office: Avenue du Pont de Warche 40
4960 Malmedy · WallonieSee on map
Contributed capital: 8 641 828,75 €
Latest accounts: 31/12/2025
Average workforce: 111,5 ETP

Joint committees (2)

Signals

Positive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 21 filings

Trend over 16 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	41,5 M €	+15.7%	35,8 M €	+19.7%	29,9 M €	-5.8%	31,8 M €	+25.7%	25,3 M €
EBITDA	2,8 M €	+74.9%	1,6 M €	+54.3%	1,1 M €	+350%	-421,7 k €	-124%	1,7 M €
Operating result	192,3 k €	+112%	-1,6 M €	+14.7%	-1,9 M €	+23.3%	-2,4 M €	-802%	345,7 k €
Net result	-510,1 k €	+79.7%	-2,5 M €	+1.6%	-2,5 M €	+2.8%	-2,6 M €	-2892%	93,9 k €
Balance sheet
Equity	6,5 M €	+216%	2,1 M €	-55.2%	4,6 M €	-35.9%	7,2 M €	-25.8%	9,7 M €
Total assets	23,9 M €	+1.3%	23,6 M €	+11.2%	21,2 M €	-5.6%	22,5 M €	+16.5%	19,3 M €
Cash	70,6 k €	+9569%	730,3 €	-98.3%	43,8 k €	+5532%	777 €	-63.0%	2,1 k €
Debts	17,2 M €	-19.0%	21,3 M €	+29.9%	16,4 M €	+8.2%	15,1 M €	+64.7%	9,2 M €
Other
Workforce	111,5 ETP	+6.5%	104,7 ETP	+7.5%	97,4 ETP	+8.7%	89,6 ETP	+13.3%	79,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 53 ended

Active mandates

Jean-Marc Jung

Director · since 27 mars 2025 · until 26 mars 2026

Active

Pierre Mary

Chairman of the board of directors · since 27 mars 2025 · until 26 mars 2026

Active

Sébastien Berlandis

Director · since 27 mars 2025 · until 26 mars 2026

Active

Ended mandates

Jean-Marc Jung

Director · since 28 mars 2024 · until 27 mars 2025

Ended

Pierre Mary

Chairman of the board of directors · since 28 mars 2024 · until 27 mars 2025

Ended

Sébastien Berlandis

Director · since 28 mars 2024 · until 27 mars 2025

Ended

Jean-Marc Jung

Director · since 23 mars 2023 · until 28 mars 2024

Ended

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	27/03/2026	08/04/2025	08/04/2024	27/03/2023	19/04/2022	31/03/2021
General meeting	26/03/2026	27/03/2025	28/03/2024	23/03/2023	24/03/2022	25/03/2021
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	26/03/2026	27/03/2026	French	PDF
Full model	31/12/2024	27/03/2025	08/04/2025	French	PDF
Full model	31/12/2023	28/03/2024	08/04/2024	French	PDF
Full model	31/12/2022	23/03/2023	27/03/2023	French	PDF
Full model	31/12/2021	24/03/2022	19/04/2022	French	PDF
Full model	31/12/2020	25/03/2021	31/03/2021	French	PDF
Full model	31/12/2019	26/03/2020	07/04/2020	French	PDF
Full model	31/12/2018	28/03/2019	18/04/2019	French	PDF
Full model	31/12/2017	22/03/2018	18/04/2018	French	PDF
Full modelCorrection	31/12/2016	23/03/2017	21/11/2017	French	PDF
Full model	31/12/2016	23/03/2017	24/04/2017	French	PDF
Full model	31/12/2015	24/03/2016	22/04/2016	French	PDF
Full model	31/12/2014	26/03/2015	30/04/2015	French	PDF
Full model	31/12/2013	25/03/2014	24/04/2014	French	PDF
Full model	31/12/2012	26/03/2013	23/04/2013	French	PDF
Full model	31/12/2011	22/03/2012	29/03/2012	French	PDF
Full model	31/12/2010	24/03/2011	12/08/2011	French	PDF
Full model	31/12/2009	25/03/2010	26/04/2010	French	PDF
Full model	31/12/2008	04/06/2009	12/06/2009	French	PDF
Full model	31/12/2007	05/06/2008	24/06/2008	French	PDF
Full model	31/12/2006	07/06/2007	29/06/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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

3 active · 53 ended

Active mandates

Jean-Marc Jung

Director · since 27 mars 2025 · until 26 mars 2026

Active

Pierre Mary

Chairman of the board of directors · since 27 mars 2025 · until 26 mars 2026

Active

Sébastien Berlandis

Director · since 27 mars 2025 · until 26 mars 2026

Active

Ended mandates

Jean-Marc Jung

Director · since 28 mars 2024 · until 27 mars 2025

Ended

Pierre Mary

Chairman of the board of directors · since 28 mars 2024 · until 27 mars 2025

Ended

Sébastien Berlandis

Director · since 28 mars 2024 · until 27 mars 2025

Ended

Jean-Marc Jung

Director · since 23 mars 2023 · until 28 mars 2024

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Other25/09/2026
—
PDF
Other08/05/2025
DIVERS
PDF
Mandates22/04/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates04/03/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates15/10/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates04/07/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates30/01/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates23/01/2024
DEMISSIONS, NOMINATIONS
PDF

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

See the Business plan

Timeline

2025
Annual accounts 2025-510,1 k €↑
27/03/2025
reconductionPierre Mary — Administrateur
27/03/2025
reconductionJean-Marc Jung — Administrateur
27/03/2025
reconductionSébastien Berlandis — Administrateur
06/03/2025
nominationPierre Mary — Président du Conseil d’Administration et Administrateur Délégué à la gestion journalière
2024
Annual accounts 2024-2,5 M €↑
28/03/2024
reconductionPierre Mary — Administrateur
28/03/2024
reconductionJean-Marc Jung — Administrateur
28/03/2024
reconductionSébastien Berlandis — Administrateur
07/03/2024
nominationPierre Mary — Président du Conseil d'Administration et Administrateur Délégué à la gestion journalière
2023
Annual accounts 2023-2,5 M €↑
23/03/2023
nominationKPMG Réviseurs d'Entreprises SCRL — commissaire
23/03/2023
nominationKoen Vanstraelen — représentant permanent
23/03/2023
reconductionPierre Mary — Administrateur
23/03/2023
reconductionJean-Marc Jung — Administrateur
23/03/2023
reconductionSébastien Berlandis — Administrateur
02/03/2023
nominationSébastien Berlandis — administrateur
02/03/2023
nominationPierre Mary — Président du Conseil d’Administration et Administrateur Délégué
2023
Name changeAhlstrom Malmedy SA
2022
Annual accounts 2022-2,6 M €↓
24/03/2022
reconductionPierre Mary — administrateur
24/03/2022
reconductionAgnès Lacrouts — administrateur
24/03/2022
reconductionJean-Marc Jung — administrateur
03/03/2022
nominationPierre Mary — Président du Conseil d'Administration et Administrateur délégué à la gestion journalière
2021
Annual accounts 202193,9 k €↓
2021
Name changeAhlstrom-Munksjo Malmedy SA
2020
Annual accounts 2020354,4 k €↑
2019
Annual accounts 2019-543,5 k €↓
2018
Annual accounts 2018409,4 k €↓
2017
Annual accounts 2017542,6 k €↓
2016
Annual accounts 2016823,8 k €↑
2015
Annual accounts 2015-276,4 k €↑
2014
Annual accounts 2014-799,1 k €↓
2011
Annual accounts 20118,9 M €↓
2010
Annual accounts 201011,7 M €↑
2009
Annual accounts 20098,8 M €↓
2008
Annual accounts 200814,7 M €
21/03/1978
IncorporationPublic limited company

AHLSTROM MALMEDY S.A.

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

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