ACTIVE

THE COTTON GROUP

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Financial year 2025 · Closed on 31/12/2025

Net result16,3 M €-2,7 %over 1 year
Revenue115,6 M €-6,6 %over 1 year
Equity3,4 M €+10,9 %over 1 year
Workforce29,2 ETP-16,1 %over 1 year

Identity

Source · BCE/KBO

THE COTTON GROUP is a Public limited company incorporated in 1990. Its registered office is in Waterloo. It employs on average 29,2 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0440.097.116
Incorporation
06/03/1990
Legal form
Public limited company
Registered office
Drève Richelle 161 O box 5
1410 Waterloo · WallonieSee on map
Contributed capital
2 000 000,00 €
Latest accounts
31/12/2025
Average workforce
29,2 ETP
Joint committees (1)
  • 215
Signals
ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 19 financial years

20252024202320222021
Income statement
Revenue115,6 M €123,8 M €140,8 M €158 M €119 M €
EBITDA23,9 M €27,5 M €25,1 M €32 M €30 M €
Operating result23,6 M €25,1 M €25,7 M €32 M €30,8 M €
Net result16,3 M €16,8 M €17,6 M €22,3 M €21,7 M €
Balance sheet
Equity3,4 M €3 M €3 M €27,5 M €31,1 M €
Total assets88 M €99,8 M €67,8 M €77,9 M €49,3 M €
Cash1,5 M €5,7 M €2,1 M €2,7 M €526,5 k €
Debts84,5 M €96,7 M €64,8 M €50,2 M €17,7 M €
Other
Workforce29,2 ETP34,8 ETP38,4 ETP37,5 ETP27,7 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 48 ended

Active mandates

ALOHA MANAGEMENT

Managing director · since 03 juin 2024 · until 07 juin 2027 · 0705.994.011

Represented by Murielle Degeest

Active
Christian Dyvig

Chairman of the board of directors · since 03 juin 2024 · until 07 juin 2027

Active
Michael Hauge Sørensen

Vice-chairman of the board of directors · since 03 juin 2024 · until 07 juin 2027

Active

Ended mandates

Christian Dyvig

Chairman of the board of directors · since 17 mai 2021 · until 03 juin 2024

Ended
Christian Peter Dyvig

Chairman of the board of directors · since 17 mai 2021 · until 03 juin 2024

Ended
Michael Hauge Sørensen

Vice-chairman of the board of directors · since 17 mai 2021 · until 03 juin 2024

Ended
Michael Hauge Sørensen

Director · since 17 mai 2021 · until 03 juin 2024

Ended

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Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull 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 date08/07/202618/06/202528/06/202423/06/202308/07/202221/06/2021
General meeting29/06/202602/06/202503/06/202421/06/202324/06/202207/06/2021
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
Full model31/12/202529/06/202608/07/2026FrenchPDF
Full model31/12/202402/06/202518/06/2025FrenchPDF
Full model31/12/202303/06/202428/06/2024FrenchPDF
Full model31/12/202221/06/202323/06/2023FrenchPDF
Full model31/12/202124/06/202208/07/2022FrenchPDF
Full model31/12/202007/06/202121/06/2021FrenchPDF
Full model31/12/201902/06/202024/06/2020FrenchPDF
Full model31/12/201803/06/201919/06/2019FrenchPDF
Full model31/12/201704/06/201812/06/2018FrenchPDF
Full model31/12/201606/06/201712/06/2017FrenchPDF
Full model31/12/201527/06/201630/06/2016FrenchPDF
Full model31/12/201415/07/201529/07/2015FrenchPDF
Full model31/12/201310/07/201410/07/2014FrenchPDF
Full model31/12/201203/06/201318/06/2013FrenchPDF
Full model31/12/201104/06/201218/06/2012FrenchPDF
Full model31/12/201006/06/201121/06/2011FrenchPDF
Full model31/12/200907/06/201010/06/2010FrenchPDF
Full model31/12/200830/06/200909/07/2009FrenchPDF
Full model31/12/200711/04/200828/04/2008FrenchPDF
Full model31/12/200624/04/200720/06/2007FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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 · 48 ended

Active mandates

ALOHA MANAGEMENT

Managing director · since 03 juin 2024 · until 07 juin 2027 · 0705.994.011

Represented by Murielle Degeest

Active
Christian Dyvig

Chairman of the board of directors · since 03 juin 2024 · until 07 juin 2027

Active
Michael Hauge Sørensen

Vice-chairman of the board of directors · since 03 juin 2024 · until 07 juin 2027

Active

Ended mandates

Christian Dyvig

Chairman of the board of directors · since 17 mai 2021 · until 03 juin 2024

Ended
Christian Peter Dyvig

Chairman of the board of directors · since 17 mai 2021 · until 03 juin 2024

Ended
Michael Hauge Sørensen

Vice-chairman of the board of directors · since 17 mai 2021 · until 03 juin 2024

Ended
Michael Hauge Sørensen

Director · since 17 mai 2021 · until 03 juin 2024

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates27/07/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates08/08/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Other27/12/2023
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - OBJET
    PDF
  • Mandates27/11/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Other22/04/2022
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates15/06/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Registered office19/02/2021
    SIEGE SOCIAL
    PDF
  • Mandates30/07/2020
    DEMISSIONS, NOMINATIONS
    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 202516,3 M €↓
  2. 2024
    Annual accounts 202416,8 M €↓
  3. 03/06/2024
    reconductionChristian Peter DYVIG — Administrateur
  4. 03/06/2024
    reconductionMichael Hauge SaRENSEN — Administrateur
  5. 03/06/2024
    nominationMurielle Degeest — représentant permanent de ALOHA MANAGEMENT SRL
  6. 03/06/2024
    nominationPeter Christian DYVIG — Président du Conseil d'Administration
  7. 2023
    Annual accounts 202317,6 M €↓
  8. 2022
    Annual accounts 202222,3 M €↑
  9. 2021
    Annual accounts 202121,7 M €↑
  10. 2020
    Annual accounts 20206,4 M €↓
  11. 2019
    Annual accounts 201911,2 M €↑
  12. 2018
    Annual accounts 201810,1 M €↑
  13. 2017
    Annual accounts 20179,1 M €↑
  14. 2016
    Annual accounts 20168,6 M €↑
  15. 2015
    Annual accounts 20157,6 M €↑
  16. 2014
    Annual accounts 20146,9 M €↑
  17. 2013
    Annual accounts 20135,2 M €↑
  18. 2012
    Annual accounts 20121,9 M €↓
  19. 2011
    Annual accounts 20115,9 M €↓
  20. 2010
    Annual accounts 20108,1 M €↑
  21. 2009
    Annual accounts 20096,5 M €↑
  22. 2008
    Annual accounts 20086,4 M €↑
  23. 2007
    Annual accounts 20075,4 M €
  24. 06/03/1990
    IncorporationPublic limited company