ACTIVE

DS Smith Packaging Belgium

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Financial year 2025 · Closed on 31/12/2025

Net result-7 M €-15,0 %over 1 year

Revenue76,5 M €-34,2 %over 1 year

Equity40,5 M €+79,5 %over 1 year

Workforce369,8 ETP-4,7 %over 1 year

Identity

Source · BCE/KBO

DS Smith Packaging Belgium is a Public limited company incorporated in 1988. Its main activity is: Manufacture of corrugated paper and paperboard and of containers of paper and paperboard. Its registered office is in Gent. It employs on average 369,8 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0436.442.095
Incorporation: 29/12/1988
Legal form: Public limited company
Registered office: New-Orleansstraat 100
9000 Gent · FlandreSee on map
Contributed capital: 76 400 000,00 €
Latest accounts: 31/12/2025
Average workforce: 369,8 ETP

Activities (NACE)

17210Manufacture of corrugated paper and paperboard and of containers of paper and paperboard· main 17210Manufacture of corrugated paper and paperboard and of containers of paper and paperboard 21210Manufacture of pharmaceutical preparations

Joint committees (2)

Signals

Solid equityHealthy social debtsHigh revenue

Financials

Source · NBB, 21 filings

Trend over 18 financial years

	2025		2025		2024		2022		2021
Income statement
Revenue	76,5 M €	-34.2%	116,3 M €	-4.8%	122,1 M €	-4.2%	127,4 M €	+21.8%	104,6 M €
EBITDA	-3,3 M €	-862%	438,9 k €	-95.5%	9,7 M €	+783%	-1,4 M €	-134%	4,2 M €
Operating result	-5,8 M €	-40.7%	-4,1 M €	-171%	5,8 M €	+213%	-5,1 M €	-594%	1 M €
Net result	-7 M €	-15.0%	-6,1 M €	-320%	2,8 M €	+149%	-5,6 M €	-1548%	389,1 k €
Balance sheet
Equity	40,5 M €	+79.5%	22,6 M €	-21.3%	28,7 M €	+210%	9,3 M €	-37.9%	14,9 M €
Total assets	82,8 M €	+26.5%	65,5 M €	+1.1%	64,8 M €	-4.5%	67,9 M €	+29.4%	52,5 M €
Cash	854,6 k €	-41.7%	1,5 M €	-20.1%	1,8 M €	+240%	538,7 k €	-74.6%	2,1 M €
Debts	41,1 M €	-1.5%	41,7 M €	+19.6%	34,9 M €	-39.2%	57,4 M €	+58.4%	36,3 M €
Other
Workforce	369,8 ETP	-4.7%	388,2 ETP	+1.7%	381,6 ETP	-0.9%	384,9 ETP	+1.8%	378,2 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 12 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Koen Verhaeghe	Managing director07/05/2026 → 27/06/2031
Ariane Goffin	Director15/12/2025 → 29/06/2031
Jean-Marc Servais	Director31/10/2025 → 29/06/2031

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Kathleen Ghys	Director26/09/2022 → 2025 accounts
Philip Bautil	Director26/09/2022 → 2025 accounts
Isabelle Rius	Director30/04/2021 → 2024 accounts

Full financial information

Source · NBB

	2025	2025	2024	2023	2022	2021
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/05/2025	01/05/2024	01/05/2023	01/05/2022	01/05/2021	01/05/2020
Closing of the financial year	31/12/2025	30/04/2025	30/04/2024	30/04/2023	30/04/2022	30/04/2021
Length of the financial year	8 months	12 months	12 months	12 months	12 months	12 months
Filing date	29/09/2026	19/12/2025	25/10/2024	10/10/2023	11/10/2022	01/10/2021
General meeting	22/09/2026	18/12/2025	30/09/2024	02/10/2023	30/09/2022	30/09/2021
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	22/09/2026	29/09/2026	Dutch	PDF
Full model	30/04/2025	18/12/2025	19/12/2025	Dutch	PDF
Full model	30/04/2024	30/09/2024	25/10/2024	Dutch	PDF
Full model	30/04/2023	02/10/2023	10/10/2023	Dutch	PDF
Full model	30/04/2022	30/09/2022	11/10/2022	Dutch	PDF
Full model	30/04/2021	30/09/2021	01/10/2021	Dutch	PDF
Full model	30/04/2020	30/09/2020	12/10/2020	Dutch	PDF
Full model	30/04/2019	30/09/2019	21/10/2019	Dutch	PDF
Full model	30/04/2018	01/10/2018	23/10/2018	Dutch	PDF
Full model	30/04/2017	21/10/2017	24/10/2017	Dutch	PDF
Full model	30/04/2016	30/09/2016	13/10/2016	Dutch	PDF
Full model	30/04/2015	30/09/2015	12/10/2015	Dutch	PDF
Full model	30/04/2014	30/09/2014	24/10/2014	Dutch	PDF
Full model	30/04/2013	30/09/2013	21/10/2013	Dutch	PDF
Full model	31/12/2011	31/05/2012	07/06/2012	Dutch	PDF
Full model	31/12/2010	16/06/2011	03/08/2011	Dutch	PDF
Full model	31/12/2009	17/06/2010	21/06/2010	Dutch	PDF
Full model	31/12/2008	15/06/2009	24/06/2009	Dutch	PDF
Consolidated accounts	31/12/2008	30/06/2009	29/07/2009	Dutch	PDF
Full model	31/12/2007	13/06/2008	09/07/2008	Dutch	PDF
Full model	31/12/2006	08/06/2007	06/07/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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 · 12 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Koen Verhaeghe	Managing director07/05/2026 → 27/06/2031
Ariane Goffin	Director15/12/2025 → 29/06/2031
Jean-Marc Servais	Director31/10/2025 → 29/06/2031

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Kathleen Ghys	Director26/09/2022 → 2025 accounts
Philip Bautil	Director26/09/2022 → 2025 accounts
Isabelle Rius	Director30/04/2021 → 2024 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates05/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares09/01/2026
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Other27/10/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates25/04/2024
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Other11/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings18 filings

Mandates

Koen Verhaeghe

Ariane Goffin

Jean-Marc Servais

Kathleen Ghys

Philip Bautil

Isabelle Rius

Bart Albrechts

Geert D'haese

Ernst Meijer

Kathleen Ghijs

Frank Linnerz

Hans van der looij

Show the 3 other mandates

19881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025202620272028202920302031

DS Smith Packaging Belgium

New-Orleansstraat 100, 9000 Gent

Managing director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
New-Orleansstraat 100, 9000 GentCurrent	accounts 2022 → 2025	Accounts 2025 · 2026-00531014

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
DS Smith Packaging BelgiumCurrent	accounts 2022 → 2025	Accounts 2025 · 2026-00531014

Events

07/05/2026
nominationKoen Verhaeghe · bestuurder
2025
Annual accounts 2025-7 M €↓
29/12/2025
augmentation_capital
18/12/2025
nominationDeloitte Bedrijfsrevisoren · commissaris
15/12/2025
nominationAriane Marie-Claire J. GOFFIN · bestuurder
31/10/2025
nominationJean-Marc Henri A Servais · bestuurder
2025
Annual accounts 2025-6,1 M €↓
2024
Annual accounts 20242,8 M €↑
09/04/2024
augmentation_capital
30/09/2022
nominationEY Bedrijfsrevisoren BV · commissaris
26/09/2022
reconductionKathleen Ghys · bestuurder
26/09/2022
reconductionPhilip Bautil · bestuurder
2022
Annual accounts 2022-5,6 M €↓
2021
Annual accounts 2021389,1 k €↓
2020
Annual accounts 20202,9 M €↑
2019
Annual accounts 2019-486,1 k €↓
2018
Annual accounts 2018592,5 k €↓
2017
Annual accounts 20173,6 M €↑
2016
Annual accounts 2016750,2 k €↓
2015
Annual accounts 2015752,5 k €↑
2013
Annual accounts 2013-1,1 M €↑
2011
Annual accounts 2011-4,4 M €↑
2010
Annual accounts 2010-5,4 M €↓
2009
Annual accounts 2009-3,6 M €↑
2008
Annual accounts 2008-4,7 M €↑
2007
Annual accounts 2007-9,3 M €↓
2006
Annual accounts 2006-8,7 M €
29/12/1988
IncorporationPublic limited company

DS Smith Packaging Belgium

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

Registered offices

Company names

Events