ACTIVE

DFDS Belgium

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Financial year 2025 · closed on 31/12/2025

Net result

-8,1 M €

-157.7% YoY

Revenue

163,1 M €

+8.9% YoY

Equity

24,3 M €

-25.2% YoY

Workforce

247,4 ETP

-2.0% YoY

What does DFDS Belgium do?

DFDS Belgium is a Public limited company incorporated in 1991. Its registered office is in Gent. It employs on average 247,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0442.647.523

Incorporation

24/01/1991

Legal form

Public limited company

Registered office

Philips Landsbergiuslaan 11
9000 Gent · FlandreSee on map

Contributed capital

2 355 975,64 €

Latest accounts

31/12/2025

Average workforce

247,4 ETP

Joint committees (2)

Signals

Solid equityGood liquidityHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	163,1 M €	+8.9%	149,7 M €	-14.8%	175,6 M €	+10.4%	159 M €	+180%	56,7 M €	+164%	21,5 M €	+0.0%	21,5 M €	+4.3%	20,6 M €	+8.0%	19,1 M €	+15.2%	16,6 M €	+1.0%	16,4 M €	-1.0%	16,6 M €	+2.8%	16,1 M €	+85.8%	8,7 M €	+188%	3 M €	+2.5%	2,9 M €	+35.8%	2,2 M €	-21.3%	2,8 M €	-7.4%	3 M €	+1.9%	2,9 M €
EBITDA	-6,4 M €	-168%	-2,4 M €	-171%	3,3 M €	+30.4%	2,6 M €	+949%	-300,7 k €	-138%	799,1 k €	-13.9%	927,9 k €	-39.8%	1,5 M €	-46.9%	2,9 M €	+4.0%	2,8 M €	+21.8%	2,3 M €	-3.8%	2,4 M €	+11.4%	2,1 M €	+107%	1 M €	+3018%	-35,4 k €	-111%	329,9 k €	+386%	-115,4 k €	-137%	312,8 k €	-42.4%	543,5 k €	+95.5%	278 k €
Operating result	-8,2 M €	-101%	-4,1 M €	-457%	1,1 M €	+12.3%	1 M €	+150%	-2,1 M €	-1538%	-125,3 k €	-170%	179,5 k €	-82.2%	1 M €	-59.3%	2,5 M €	-8.1%	2,7 M €	+20.0%	2,2 M €	-4.0%	2,3 M €	+12.7%	2,1 M €	+112%	979,9 k €	+1238%	-86,1 k €	-130%	286,5 k €	+279%	-160,5 k €	-161%	263,9 k €	-46.9%	497,1 k €	+95.7%	254 k €
Net result	-8,1 M €	-158%	-3,2 M €	-314%	1,5 M €	+73.3%	850,3 k €	+139%	-2,2 M €	-3382%	-61,9 k €	-167%	92,1 k €	-86.5%	684,6 k €	-57.6%	1,6 M €	-9.6%	1,8 M €	+19.8%	1,5 M €	-3.2%	1,5 M €	+9.5%	1,4 M €	+105%	683,9 k €	+987%	-77,1 k €	-126%	301,5 k €	-45.3%	551,6 k €	+559%	-120,1 k €	-222%	98,5 k €	+1072%	-10,1 k €
Balance sheet
Equity	24,3 M €	-25.2%	32,5 M €	-9.0%	35,7 M €	+6.1%	33,7 M €	+2.6%	32,8 M €	+212%	10,5 M €	-0.6%	10,6 M €	+2.4%	10,3 M €	+7.0%	9,6 M €	+19.9%	8,1 M €	+28.4%	6,3 M €	+31.9%	4,8 M €	+47.9%	3,2 M €	+77.7%	1,8 M €	+60.8%	1,1 M €	-6.4%	1,2 M €	+33.5%	900,5 k €	+158%	348,9 k €	-25.6%	468,9 k €	+26.6%	370,4 k €
Total assets	61,6 M €	-9.9%	68,4 M €	-4.8%	71,9 M €	+5.6%	68,1 M €	+27.2%	53,5 M €	+229%	16,3 M €	+4.6%	15,6 M €	+3.1%	15,1 M €	-13.1%	17,4 M €	+4.3%	16,7 M €	+29.0%	12,9 M €	+46.2%	8,8 M €	+12.1%	7,9 M €	+41.2%	5,6 M €	-17.9%	6,8 M €	+42.3%	4,8 M €	+23.2%	3,9 M €	-69.9%	12,9 M €	+5.7%	12,2 M €	+2.4%	11,9 M €
Cash	1,7 k €	0.0%	1,7 k €	-35.8%	2,7 k €	-68.1%	8,5 k €	+98.7%	4,3 k €	+21.6%	3,5 k €	-99.3%	491,2 k €	+35271%	1,4 k €	-61.6%	3,6 k €	-34.1%	5,5 k €	-7.7%	5,9 k €	-75.5%	24,3 k €	-98.6%	1,7 M €	+138%	734,3 k €	+93.9%	378,6 k €	+98.2%	191 k €	-34.3%	290,7 k €	-15.1%	342,3 k €	-53.6%	737,2 k €	+21.9%	604,5 k €
Debts	36,5 M €	+4.7%	34,9 M €	-0.3%	35 M €	+4.8%	33,4 M €	+77.0%	18,9 M €	+265%	5,2 M €	+17.9%	4,4 M €	-2.8%	4,5 M €	-39.6%	7,4 M €	-10.7%	8,3 M €	+32.2%	6,3 M €	+66.8%	3,8 M €	-12.0%	4,3 M €	+16.2%	3,7 M €	-30.0%	5,3 M €	+50.9%	3,5 M €	+17.7%	3 M €	-76.3%	12,5 M €	+7.2%	11,7 M €	+1.6%	11,5 M €
Other
Workforce	247,4 ETP	-2.0%	252,4 ETP	-0.4%	253,5 ETP	+18.9%	213,2 ETP	+214%	67,9 ETP	+102%	33,6 ETP	+36.6%	24,6 ETP	+41.4%	17,4 ETP	+16.0%	15,0 ETP	+7.1%	14,0 ETP	+0.7%	13,9 ETP	+3.7%	13,4 ETP	-15.7%	15,9 ETP	+5.3%	15,1 ETP	+1.3%	14,9 ETP	+3.5%	14,4 ETP	-5.9%	15,3 ETP	-11.6%	17,3 ETP	-12.6%	19,8 ETP	-12.8%	22,7 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 7 active · 47 ended

Active mandates

Jacob Andersen

Director · since 01 janvier 2025 · until 26 mai 2031

Active

Michael Bech

Director · since 01 janvier 2022 · until 26 mai 2031

Active

Torben Carlsen

Director · since 01 janvier 2022 · until 26 mai 2031

Active

Wilhelmus Van Koevorden

Director · since 01 janvier 2020 · until 26 mai 2031

Active

Wilhelmus Van Koevorden

Managing director · since 01 janvier 2020

Active

Morgan Olausson Bernt-Olof

Director · since 15 novembre 2018 · until 15 octobre 2025

Active

Wilfried Reynaert

Director · since 15 novembre 2018 · until 26 mai 2031

Active

Ended mandates

Michael Bech

Director · since 01 janvier 2022 · until 31 décembre 2027

Ended

Torben Carlsen

Director · since 01 janvier 2022 · until 31 décembre 2027

Ended

Jelle van Koevorden

Director · since 01 janvier 2020 · until 01 janvier 2024

Ended

Jelle van Koevorden

Director · since 01 janvier 2020 · until 01 janvier 2028

Ended

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	12/06/2026	16/06/2025	11/10/2024	06/07/2023	31/05/2022	28/06/2021
General meeting	26/05/2026	26/05/2025	27/05/2024	29/05/2023	23/05/2022	18/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/05/2026	12/06/2026	Dutch	PDF
Full model	31/12/2024	26/05/2025	16/06/2025	Dutch	PDF
Full modelCorrection	31/12/2023	27/05/2024	11/10/2024	Dutch	PDF
Full model	31/12/2023	27/05/2024	22/07/2024	Dutch	PDF
Full model	31/12/2022	29/05/2023	06/07/2023	Dutch	PDF
Full model	31/12/2021	23/05/2022	31/05/2022	Dutch	PDF
Full model	31/12/2020	18/06/2021	28/06/2021	Dutch	PDF
Full model	31/12/2019	19/06/2020	29/06/2020	Dutch	PDF
Full model	31/12/2018	19/06/2019	19/06/2019	Dutch	PDF
Full model	31/12/2017	18/06/2018	10/07/2018	Dutch	PDF
Full model	31/12/2016	20/06/2017	11/07/2017	Dutch	PDF
Full model	31/12/2015	20/06/2016	05/07/2016	Dutch	PDF
Full model	31/12/2014	29/06/2015	14/07/2015	Dutch	PDF
Full model	31/12/2013	02/06/2014	25/06/2014	Dutch	PDF
Full model	31/12/2012	29/04/2013	23/05/2013	Dutch	PDF
Full model	31/12/2011	30/04/2012	30/05/2012	Dutch	PDF
Full model	31/12/2010	04/04/2011	07/06/2011	Dutch	PDF
Full model	31/12/2009	05/04/2010	30/04/2010	Dutch	PDF
Full model	31/12/2008	06/04/2009	03/06/2009	Dutch	PDF
Full model	31/12/2007	07/04/2008	08/04/2008	Dutch	PDF
Full model	31/12/2006	02/04/2007	03/05/2007	Dutch	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 7 active · 47 ended

Active mandates

Jacob Andersen

Director · since 01 janvier 2025 · until 26 mai 2031

Active

Michael Bech

Director · since 01 janvier 2022 · until 26 mai 2031

Active

Torben Carlsen

Director · since 01 janvier 2022 · until 26 mai 2031

Active

Wilhelmus Van Koevorden

Director · since 01 janvier 2020 · until 26 mai 2031

Active

Wilhelmus Van Koevorden

Managing director · since 01 janvier 2020

Active

Morgan Olausson Bernt-Olof

Director · since 15 novembre 2018 · until 15 octobre 2025

Active

Wilfried Reynaert

Director · since 15 novembre 2018 · until 26 mai 2031

Active

Ended mandates

Michael Bech

Director · since 01 janvier 2022 · until 31 décembre 2027

Ended

Torben Carlsen

Director · since 01 janvier 2022 · until 31 décembre 2027

Ended

Jelle van Koevorden

Director · since 01 janvier 2020 · until 01 janvier 2024

Ended

Jelle van Koevorden

Director · since 01 janvier 2020 · until 01 janvier 2028

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other23/09/2026
—
PDF
Mandates09/02/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/03/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares04/02/2022
KAPITAAL - AANDELEN
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 2025-8,1 M €↓
24/10/2025
nominationRaf De Wit — gedelegeerde tot het dagelijks bestuur
24/10/2025
nominationSara van Putten — gedelegeerde tot het dagelijks bestuur
15/10/2025
reconductionWilhelmus Van Koevorden — bestuurder
15/10/2025
reconductionWilfried Reynaert — bestuurder
15/10/2025
reconductionTorben Carlsen — bestuurder
15/10/2025
reconductionMichael Bech — bestuurder
01/01/2025
nominationJacob Andersen — bestuurder
2024
Annual accounts 2024-3,2 M €↓
27/05/2024
reconductionFilip Drieghe — commissaris
09/04/2024
nominationPeter Van den Eynde — commissaris
2023
Annual accounts 20231,5 M €↑
2022
Annual accounts 2022850,3 k €↑
2021
Annual accounts 2021-2,2 M €↓
2021
Name changeDFDS Belgium
2020
Annual accounts 2020-61,9 k €↓
2019
Annual accounts 201992,1 k €↓
2018
Annual accounts 2018684,6 k €↓
2017
Annual accounts 20171,6 M €↓
2016
Annual accounts 20161,8 M €↑
2015
Annual accounts 20151,5 M €↓
2014
Annual accounts 20141,5 M €↑
2013
Annual accounts 20131,4 M €↑
2012
Annual accounts 2012683,9 k €↑
2011
Annual accounts 2011-77,1 k €↓
2010
Annual accounts 2010301,5 k €↓
2010
Name changeDFDS Seaways
2009
Annual accounts 2009551,6 k €↑
2008
Annual accounts 2008-120,1 k €↓
2007
Annual accounts 200798,5 k €↑
2006
Annual accounts 2006-10,1 k €
2006
Name changeDFDS TOR LINE
24/01/1991
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

DFDS Belgium

Overview

What does DFDS Belgium do?

Trend over 20 financial years

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