ACTIVE

SMART PACKAGING SOLUTIONS

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Financial year 2025 · closed on 31/12/2025

Net result

1,7 M €

+24.7% YoY

Revenue

59,7 M €

+7.8% YoY

Equity

7,2 M €

+30.1% YoY

Workforce

123,6 ETP

+2.2% YoY

What does SMART PACKAGING SOLUTIONS do?

SMART PACKAGING SOLUTIONS is a Public limited company incorporated in 1993. Its main activity is: Manufacture of corrugated paper and paperboard and of containers of paper and paperboard. Its registered office is in Hoogstraten. It employs on average 123,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0449.398.129

Incorporation

05/02/1993

Legal form

Public limited company

Registered office

Europastraat 28
2321 Hoogstraten · FlandreSee on map

Contributed capital

2 500 000,00 €

Latest accounts

31/12/2025

Average workforce

123,6 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 46493Wholesale of other household goods 46493Wholesale of other household goods 51475Air transport

Joint committees (2)

Signals

ProfitableLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2006
Income statement
Revenue	59,7 M €	+7.8%	55,4 M €	+6.4%	52,1 M €	-12.2%	59,3 M €	+31.2%	45,2 M €	+12.2%	40,3 M €	-9.7%	44,6 M €	+4.6%	42,6 M €	+3.5%	41,2 M €	+8.4%	38 M €	-5.0%	40 M €	+1.8%	39,3 M €	+10.4%	35,6 M €	+13.6%	31,3 M €	+222%	9,7 M €	+13.4%	8,6 M €	+10.9%	7,7 M €	+26.6%	6,1 M €		–
EBITDA	4,4 M €	+17.0%	3,7 M €	+120%	1,7 M €	+14.4%	1,5 M €	-30.3%	2,1 M €	+1.2%	2,1 M €	+2.0%	2,1 M €	+16.4%	1,8 M €	+84.1%	962,7 k €	+29.8%	741,9 k €	-57.2%	1,7 M €	-34.4%	2,6 M €	+105%	1,3 M €	+9.6%	1,2 M €	+243%	342,7 k €	-42.5%	595,8 k €	-6.7%	638,6 k €	+331%	148,2 k €	+1745%	8 k €
Operating result	2,6 M €	+16.0%	2,3 M €	+492%	383,4 k €	+4.8%	366 k €	-54.4%	802,8 k €	+27.9%	627,6 k €	+80.8%	347,1 k €	+18.6%	292,7 k €	+113%	137,4 k €	+171%	50,8 k €	-95.4%	1,1 M €	-43.8%	2 M €	+246%	573,9 k €	+664%	-101,7 k €	+90.0%	-1 M €	-386%	-208,1 k €	-337%	-47,7 k €	+89.4%	-449,9 k €	-1899%	-22,5 k €
Net result	1,7 M €	+24.7%	1,3 M €	+5074%	-26,8 k €	-110%	266,3 k €	-26.4%	362,1 k €	+41.3%	256,2 k €	+608%	-50,4 k €	+40.0%	-84,1 k €	-3.8%	-81 k €	+35.5%	-125,6 k €	-119%	644,4 k €	-55.2%	1,4 M €	+158%	558,8 k €	+413%	-178,6 k €	+83.3%	-1,1 M €	-179%	-382,8 k €	-247%	-110,2 k €	-46.2%	-75,4 k €	-164%	-28,6 k €
Balance sheet
Equity	7,2 M €	+30.1%	5,5 M €	+31.8%	4,2 M €	-0.6%	4,2 M €	+6.7%	4 M €	+9.9%	3,6 M €	+7.7%	3,3 M €	-1.5%	3,4 M €	-2.4%	3,5 M €	-2.3%	3,6 M €	-3.4%	3,7 M €	+21.2%	3 M €	+90.0%	1,6 M €	+53.7%	1 M €	+471%	-280,6 k €	-136%	788,5 k €	+238%	233,3 k €	-32.1%	343,5 k €	-21.2%	436 k €
Total assets	24 M €	+11.6%	21,5 M €	+6.7%	20,1 M €	-5.3%	21,3 M €	+30.2%	16,3 M €	+3.7%	15,7 M €	-6.7%	16,9 M €	-20.8%	21,3 M €	+1.3%	21 M €	+42.5%	14,7 M €	+0.9%	14,6 M €	+42.3%	10,3 M €	+35.1%	7,6 M €	+3.5%	7,3 M €	+61.8%	4,5 M €	-24.3%	6 M €	+77.2%	3,4 M €	-7.9%	3,7 M €	+738%	438,5 k €
Cash	298,1 €	0.0%	298,1 €	0.0%	298,1 €	-55.3%	667,5 €	-65.9%	2 k €	+367%	419,4 €	-95.3%	9 k €	-4.1%	9,4 k €	+47.1%	6,4 k €	-8.1%	6,9 k €	-1.4%	7 k €	+977%	652,9 €	-8.6%	714,2 €	+18.2%	604 €	-18.6%	742 €	+75.3%	423,3 €	+45.2%	291,6 €	-69.8%	965 €	-99.4%	151,2 k €
Debts	16,7 M €	+5.1%	15,9 M €	+0.2%	15,9 M €	-6.3%	17 M €	+37.8%	12,3 M €	+1.5%	12,1 M €	-10.1%	13,5 M €	-24.4%	17,8 M €	+5.7%	16,9 M €	+53.0%	11 M €	+2.1%	10,8 M €	+53.7%	7 M €	+23.4%	5,7 M €	-4.7%	6 M €	+28.6%	4,7 M €	-5.5%	4,9 M €	+63.3%	3 M €	-5.7%	3,2 M €	+124097%	2,6 k €
Other
Workforce	123,6 ETP	+2.2%	120,9 ETP	+0.9%	119,8 ETP	-2.2%	122,5 ETP	+2.9%	119,1 ETP	-2.9%	122,6 ETP	-1.4%	124,4 ETP	+10.0%	113,1 ETP	-2.0%	115,4 ETP	+3.3%	111,7 ETP	+5.4%	106,0 ETP	-5.9%	112,6 ETP	+7.3%	104,9 ETP	+7.6%	97,5 ETP	+11.3%	87,6 ETP	+25.3%	69,9 ETP	+9.4%	63,9 ETP	+8.1%	59,1 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 · 3 active · 28 ended

Active mandates

D.N.J.

Director · since 02 juin 2023 · until 01 juin 2029 · 0886.721.144

Active

FinCoPro

Director · since 02 juin 2023 · until 01 juin 2029 · 0895.515.777

Represented by Erik Peeters

Active

Pierre Macharis

Managing director · since 02 juin 2023 · until 01 juin 2029

Active

Ended mandates

Denis Zenner

Director · since 23 août 2022 · until 02 juin 2028

Ended

Denis Zenner

Director · since 18 août 2022 · until 02 juin 2023

Ended

Pierre Macharis

Managing director · since 07 juillet 2022 · until 02 juin 2028

Ended

FinCoPro

Director · since 03 juin 2022 · until 02 juin 2028 · 0895.515.777

Represented by Erik Peeters

Ended

At this address

Other companies at this address

Company	CBE no.
R. EN F. FOLDING BOXES● Bankrupt	0440.821.250

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	25/06/2024	12/06/2023	13/06/2022	21/06/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	02/06/2023	03/06/2022	04/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	05/06/2026	12/06/2026	Dutch	PDF
Full model	31/12/2024	06/06/2025	16/06/2025	Dutch	PDF
Full model	31/12/2023	07/06/2024	25/06/2024	Dutch	PDF
Full model	31/12/2022	02/06/2023	12/06/2023	Dutch	PDF
Full model	31/12/2021	03/06/2022	13/06/2022	Dutch	PDF
Full model	31/12/2020	04/06/2021	21/06/2021	Dutch	PDF
Full model	31/12/2019	26/06/2020	20/07/2020	Dutch	PDF
Full model	31/12/2018	07/06/2019	24/06/2019	Dutch	PDF
Full model	31/12/2017	01/06/2018	22/06/2018	Dutch	PDF
Full model	31/12/2016	02/06/2017	26/06/2017	Dutch	PDF
Full model	31/12/2015	03/06/2016	16/06/2016	Dutch	PDF
Full model	31/12/2014	24/04/2015	11/06/2015	Dutch	PDF
Full model	31/12/2013	25/04/2014	20/05/2014	Dutch	PDF
Full model	31/12/2012	26/04/2013	16/05/2013	Dutch	PDF
Full model	31/12/2011	27/04/2012	13/06/2012	Dutch	PDF
Full model	31/12/2010	29/04/2011	27/05/2011	Dutch	PDF
Full model	31/12/2009	30/04/2010	21/05/2010	Dutch	PDF
Full model	31/12/2008	24/04/2009	30/06/2009	Dutch	PDF
Abridged model	31/12/2007	25/04/2008	15/05/2008	Dutch	PDF
Abridged model	31/12/2006	27/04/2007	26/02/2008	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 · 3 active · 28 ended

Active mandates

D.N.J.

Director · since 02 juin 2023 · until 01 juin 2029 · 0886.721.144

Active

FinCoPro

Director · since 02 juin 2023 · until 01 juin 2029 · 0895.515.777

Represented by Erik Peeters

Active

Pierre Macharis

Managing director · since 02 juin 2023 · until 01 juin 2029

Active

Ended mandates

Denis Zenner

Director · since 23 août 2022 · until 02 juin 2028

Ended

Denis Zenner

Director · since 18 août 2022 · until 02 juin 2023

Ended

Pierre Macharis

Managing director · since 07 juillet 2022 · until 02 juin 2028

Ended

FinCoPro

Director · since 03 juin 2022 · until 02 juin 2028 · 0895.515.777

Represented by Erik Peeters

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates17/07/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/08/2022
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/07/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/09/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/08/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/10/2018
ONTSLAGEN - BENOEMINGEN
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 20251,7 M €↑
2024
Annual accounts 20241,3 M €↑
2023
Annual accounts 2023-26,8 k €↓
2022
Annual accounts 2022266,3 k €↓
2021
Annual accounts 2021362,1 k €↑
2020
Annual accounts 2020256,2 k €↑
2019
Annual accounts 2019-50,4 k €↑
2018
Annual accounts 2018-84,1 k €↓
2017
Annual accounts 2017-81 k €↑
2016
Annual accounts 2016-125,6 k €↓
2015
Annual accounts 2015644,4 k €↓
2014
Annual accounts 20141,4 M €↑
2013
Annual accounts 2013558,8 k €↑
2012
Annual accounts 2012-178,6 k €↑
2011
Annual accounts 2011-1,1 M €↓
2010
Annual accounts 2010-382,8 k €↓
2009
Annual accounts 2009-110,2 k €↓
2008
Annual accounts 2008-75,4 k €↓
2008
Name changeSmart Packaging Solutions NV
2006
Annual accounts 2006-28,6 k €
2006
Name changeECOTUBE
05/02/1993
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

SMART PACKAGING SOLUTIONS

Overview

What does SMART PACKAGING SOLUTIONS do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

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