ACTIVE

Baltimore Aircoil International

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Financial year 2025 · Closed on 30/09/2025

Net result1,2 M €-81,8 %over 1 year
Revenue164,5 M €+8,7 %over 1 year
Equity13,9 M €+9,6 %over 1 year
Workforce323,5 ETP+1,6 %over 1 year

Identity

Source · BCE/KBO

Baltimore Aircoil International is a Public limited company incorporated in 1988. Its registered office is in Heist-op-den-Berg. It employs on average 323,5 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0434.839.320
Incorporation
07/07/1988
Legal form
Public limited company
Registered office
Industriepark ZN
2220 Heist-op-den-Berg · FlandreSee on map
Contributed capital
2 920 000,00 €
Latest accounts
30/09/2025
Average workforce
323,5 ETP
Joint committees (2)
  • 111
  • 209
Signals
ProfitablePositive cashflowPositive EBITDAHigh revenue

Financials

Source · NBB, 44 filings

Trend over 19 financial years

20252024202320222021
Income statement
Revenue164,5 M €151,3 M €149,5 M €131,6 M €121,5 M €
EBITDA2,2 M €10,2 M €9,3 M €3,1 M €8,6 M €
Operating result600,4 k €8,3 M €8,3 M €2,2 M €7,7 M €
Net result1,2 M €6,7 M €6,5 M €1,4 M €6 M €
Balance sheet
Equity13,9 M €12,7 M €10,5 M €6 M €4,6 M €
Total assets75,1 M €68,3 M €74,9 M €63,3 M €62,6 M €
Cash6,6 M €6,6 M €17,2 M €6,2 M €16,1 M €
Debts60,2 M €53,2 M €62,5 M €55,4 M €56,9 M €
Other
Workforce323,5 ETP318,4 ETP308,8 ETP304,5 ETP300,0 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 30/09/2025

5 active · 35 ended

Active mandates

Gert Aerts

Director · since 02 octobre 2025 · until 04 mars 2030

Active
VOLUNTAS CONSULTANCY

Managing director · since 02 octobre 2025 · until 04 mars 2030 · 1015.773.706

Represented by David Jacobs

Active
David Jacobs

Managing director · since 04 mars 2024 · until 02 octobre 2025

Active
Ronny Cannaerts

Director · since 04 mars 2024 · until 02 octobre 2025

Active
Veerle Proost

Director · since 04 mars 2024 · until 04 mars 2030

Active

Ended mandates

David Jacobs

Managing director · since 04 mars 2024 · until 04 mars 2030

Ended
Ronny Cannaerts

Director · since 04 mars 2024 · until 04 mars 2030

Ended
David Jacobs

Managing director · since 02 mars 2021 · until 04 mars 2024

Ended
Ronny Cannaerts

Director · since 02 mars 2021 · until 04 mars 2024

Ended

Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/10/202401/10/202301/10/202201/10/202101/10/202001/10/2019
Closing of the financial year30/09/202530/09/202430/09/202330/09/202230/09/202130/09/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date26/03/202625/03/202526/03/202413/03/202316/03/202229/04/2021
General meeting02/03/202603/03/202504/03/202406/03/202307/03/202201/03/2021
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, 44 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model30/09/202502/03/202626/03/2026DutchPDF
Consolidated accounts30/09/202502/03/202626/03/2026DutchPDF
Full model30/09/202403/03/202525/03/2025DutchPDF
Consolidated accounts30/09/202403/03/202525/03/2025DutchPDF
Full model30/09/202304/03/202426/03/2024DutchPDF
Consolidated accounts30/09/202304/03/202426/03/2024DutchPDF
Full model30/09/202206/03/202313/03/2023DutchPDF
Consolidated accounts30/09/2022—13/03/2023DutchPDF
Full model30/09/202107/03/202216/03/2022DutchPDF
Consolidated accounts30/09/202101/01/999916/03/2022DutchPDF
Full modelCorrection30/09/202001/03/202129/04/2021DutchPDF
Full model30/09/202001/03/202116/03/2021DutchPDF
Consolidated accounts30/09/202001/03/202116/03/2021DutchPDF
Full model30/09/201902/03/202018/03/2020DutchPDF
Consolidated accounts30/09/201902/03/202018/03/2020DutchPDF
Full model30/09/201804/03/201926/03/2019DutchPDF
Consolidated accounts30/09/201804/03/201926/03/2019DutchPDF
Full model30/09/201705/03/201812/03/2018DutchPDF
Consolidated accounts30/09/201705/03/201813/03/2018DutchPDF
Full modelCorrection30/09/201606/03/201718/09/2017DutchPDF
Full model30/09/201606/03/201713/03/2017DutchPDF
Consolidated accounts30/09/201606/03/201713/03/2017DutchPDF
Full model30/09/201507/03/201614/03/2016DutchPDF
Consolidated accounts30/09/201507/03/201614/03/2016DutchPDF

View all 44 filings

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 30/09/2025

5 active · 35 ended

Active mandates

Gert Aerts

Director · since 02 octobre 2025 · until 04 mars 2030

Active
VOLUNTAS CONSULTANCY

Managing director · since 02 octobre 2025 · until 04 mars 2030 · 1015.773.706

Represented by David Jacobs

Active
David Jacobs

Managing director · since 04 mars 2024 · until 02 octobre 2025

Active
Ronny Cannaerts

Director · since 04 mars 2024 · until 02 octobre 2025

Active
Veerle Proost

Director · since 04 mars 2024 · until 04 mars 2030

Active

Ended mandates

David Jacobs

Managing director · since 04 mars 2024 · until 04 mars 2030

Ended
Ronny Cannaerts

Director · since 04 mars 2024 · until 04 mars 2030

Ended
David Jacobs

Managing director · since 02 mars 2021 · until 04 mars 2024

Ended
Ronny Cannaerts

Director · since 02 mars 2021 · until 04 mars 2024

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates25/11/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates23/04/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates10/06/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other29/06/2023
    DIVERSEN
    PDF
  • Other13/06/2023
    BENAMING - DIVERSEN
    PDF
  • Other23/03/2023
    BENAMING
    PDF
  • Mandates07/04/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates03/05/2021
    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. 02/10/2025
    nominationGert Aerts — bestuurder
  2. 02/10/2025
    nominationVoluntas Consultancy — bestuurder
  3. 2025
    Annual accounts 20251,2 M €↓
  4. 03/03/2025
    reconductionErnst & Young Bedrijfsrevisoren BV — commissaris
  5. 2024
    Annual accounts 20246,7 M €↑
  6. 04/03/2024
    reconductionDavid Jacobs — bestuurder
  7. 04/03/2024
    reconductionRonny Cannaerts — bestuurder
  8. 04/03/2024
    reconductionVeerle Proost — bestuurder
  9. 2023
    Annual accounts 20236,5 M €↑
  10. 2022
    Annual accounts 20221,4 M €↓
  11. 2021
    Annual accounts 20216 M €↑
  12. 2020
    Annual accounts 20205,5 M €↓
  13. 2019
    Annual accounts 20196,6 M €↑
  14. 2018
    Annual accounts 20183,8 M €↓
  15. 2017
    Annual accounts 20175,3 M €↑
  16. 2016
    Annual accounts 20164,9 M €↓
  17. 2015
    Annual accounts 20156,2 M €↑
  18. 2014
    Annual accounts 20143,7 M €↓
  19. 2013
    Annual accounts 20134,1 M €↓
  20. 2012
    Annual accounts 20125,1 M €↑
  21. 2011
    Annual accounts 20112,8 M €↑
  22. 2010
    Annual accounts 2010558,7 k €↑
  23. 2009
    Annual accounts 2009632 €↓
  24. 2008
    Annual accounts 20083,6 M €↓
  25. 2007
    Annual accounts 20074,2 M €
  26. 07/07/1988
    IncorporationPublic limited company