ACTIVE

FIRST TRANSMISSION

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Financial year 2025 · closed on 31/03/2025

Net result

43,3 k €

-47.6% YoY

Gross margin

52,9 k €

-37.7% YoY

Equity

77,6 k €

+8.8% YoY

What does FIRST TRANSMISSION do?

FIRST TRANSMISSION is a Private limited company incorporated in 1993. Its main activity is: Manufacture of articles of paper and paperboard. Its registered office is in Zaventem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0449.625.583

Incorporation

08/03/1993

Legal form

Private limited company

Registered office

Excelsiorlaan 10
1930 Zaventem · FlandreSee on map

Contributed capital

8 694,26 €

Latest accounts

31/03/2025

Activities (NACE)

17250Manufacture of articles of paper and paperboard· main 17290Manufacture of other articles of paper and paperboard 21250Manufacture of pharmaceutical preparations

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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Recommended credit limit

✦ 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		2007
Income statement
Gross margin	52,9 k €	-37.7%	84,9 k €	+91.5%	44,3 k €	+799%	4,9 k €	+134%	-14,5 k €	-180%	18,1 k €	+452%	-5,1 k €	+60.4%	-13 k €	-284%	-3,4 k €	-2159%	164,1 €	-98.3%	9,7 k €	+81.1%	5,4 k €	+141%	-13,3 k €	+22.5%	-17,1 k €	+74.6%	-67,2 k €	-107%	-32,5 k €	-166%	49,3 k €	-23.7%	64,6 k €	-9.9%	71,7 k €
EBITDA	52,5 k €	-37.9%	84,5 k €	+92.3%	43,9 k €	+5605%	769,8 €	+105%	-14,6 k €	-181%	18 k €	+437%	-5,3 k €	+59.1%	-13,1 k €	-218%	-4,1 k €	-997%	-375 €	-104%	9,4 k €	+113%	4,4 k €	+132%	-13,9 k €	+20.3%	-17,4 k €	+74.4%	-67,9 k €	-42.0%	-47,8 k €	-989%	-4,4 k €	-200%	4,4 k €	-69.1%	14,2 k €
Operating result	51,3 k €	-38.4%	83,4 k €	+90.9%	43,7 k €	+6841%	629,1 €	+104%	-15,4 k €	-190%	17,1 k €	+356%	-6,7 k €	+54.3%	-14,6 k €	-153%	-5,8 k €	-195%	-2 k €	-125%	7,9 k €	+671%	-1,4 k €	+93.0%	-19,6 k €	+12.8%	-22,5 k €	+68.3%	-70,9 k €	-35.9%	-52,2 k €	-254%	-14,7 k €	-228%	-4,5 k €	-169%	6,5 k €
Net result	43,3 k €	-47.6%	82,6 k €	+90.1%	43,5 k €	+18969%	227,9 €	+101%	-15,6 k €	-193%	16,8 k €	+338%	-7,1 k €	+52.9%	-15 k €	-148%	-6 k €	-174%	-2,2 k €	-129%	7,5 k €	+551%	-1,7 k €	+91.6%	-19,8 k €	+15.7%	-23,5 k €	+63.1%	-63,8 k €	-23.6%	-51,6 k €	-209%	-16,7 k €	-63.0%	-10,3 k €	-458%	2,9 k €
Balance sheet
Equity	77,6 k €	+8.8%	71,3 k €	+201%	23,7 k €	+1248%	1,8 k €	+14.9%	1,5 k €	-91.1%	17,2 k €	+4762%	353,3 €	-95.2%	7,4 k €	-66.9%	22,4 k €	-21.2%	28,4 k €	-7.2%	30,6 k €	+32.7%	23,1 k €	-6.8%	24,8 k €	-44.5%	44,6 k €	-34.5%	68,2 k €	-48.3%	131,9 k €	-28.1%	183,5 k €	-8.3%	200,2 k €	-4.9%	210,5 k €
Total assets	89,4 k €	+0.5%	88,9 k €	+138%	37,4 k €	+489%	6,4 k €	-6.7%	6,8 k €	-68.5%	21,6 k €	+406%	4,3 k €	-83.0%	25,1 k €	-5.8%	26,7 k €	-15.7%	31,6 k €	-10.0%	35,1 k €	+34.3%	26,2 k €	-5.4%	27,7 k €	-43.3%	48,8 k €	-35.8%	76 k €	-50.7%	154,3 k €	-32.3%	227,8 k €	-13.9%	264,7 k €	-3.8%	275,1 k €
Cash	75 k €	+162%	28,7 k €	+185%	10 k €	+1786%	532,4 €	-58.3%	1,3 k €	+880%	130,2 €	-89.2%	1,2 k €	+199%	402,1 €	-12.1%	457,5 €	-15.6%	542,1 €	+12.3%	482,6 €	-47.7%	922,2 €	-87.1%	7,1 k €	-76.5%	30,4 k €	+121%	13,7 k €	-84.5%	88,5 k €	+27.8%	69,2 k €	-45.4%	126,9 k €	-31.8%	186,1 k €
Debts	11,7 k €	-33.5%	17,6 k €	+28.6%	13,7 k €	+198%	4,6 k €	-13.0%	5,3 k €	+18.5%	4,4 k €	+13.6%	3,9 k €	-77.9%	17,7 k €	+315%	4,3 k €	+34.2%	3,2 k €	-29.0%	4,5 k €	+46.2%	3,1 k €	+5.8%	2,9 k €	-31.2%	4,2 k €	-46.6%	7,9 k €	-64.7%	22,3 k €	-49.6%	44,3 k €	-31.3%	64,5 k €	-0.2%	64,6 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		0,4 ETP	-77.8%	1,8 ETP	0.0%	1,8 ETP	-5.3%	1,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/03/2025 · 1 active · 5 ended

Active mandates

Réginald HENRY DE FRAHAN

Director

Active

Ended mandates

Astrid de GERLACHE

Manager · since 23 mars 2011

Ended

Astrid de GERLACHE

Manager

Ended

Astrid DE GERLACHE

Mandate

Ended

Réginald HENRY DE FRAHAN

Manager · until 23 mars 2011

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020	01/04/2019
Closing of the financial year	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021	31/03/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	14/10/2025	05/07/2024	15/11/2023	30/11/2022	10/11/2021	12/11/2020
General meeting	01/09/2025	13/06/2024	14/09/2023	30/09/2022	30/09/2021	30/09/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/03/2025	01/09/2025	14/10/2025	Dutch	PDF
Abridged model	31/03/2024	13/06/2024	05/07/2024	Dutch	PDF
Abridged model	31/03/2023	14/09/2023	15/11/2023	Dutch	PDF
Abridged model	31/03/2022	30/09/2022	30/11/2022	Dutch	PDF
Abridged model	31/03/2021	30/09/2021	10/11/2021	Dutch	PDF
Abridged model	31/03/2020	30/09/2020	12/11/2020	Dutch	PDF
Abridged model	31/03/2019	05/09/2019	29/10/2019	Dutch	PDF
Abridged model	31/03/2018	30/09/2018	31/10/2018	Dutch	PDF
Abridged model	31/03/2017	30/09/2017	30/10/2017	Dutch	PDF
Abridged model	31/03/2016	30/09/2016	17/11/2016	Dutch	PDF
Abridged model	31/03/2015	30/09/2015	30/10/2015	Dutch	PDF
Abridged model	31/03/2014	30/09/2014	29/10/2014	Dutch	PDF
Abridged model	31/03/2013	30/09/2013	30/10/2013	Dutch	PDF
Abridged model	31/03/2012	28/09/2012	26/10/2012	Dutch	PDF
Abridged model	31/03/2011	30/09/2011	07/11/2011	Dutch	PDF
Abridged model	31/03/2010	02/09/2010	27/10/2010	French	PDF
Abridged model	31/03/2009	03/09/2009	04/12/2009	French	PDF
Abridged model	31/03/2008	04/09/2008	03/10/2008	French	PDF
Abridged model	31/03/2007	06/09/2007	27/09/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 31/03/2025 · 1 active · 5 ended

Active mandates

Réginald HENRY DE FRAHAN

Director

Active

Ended mandates

Astrid de GERLACHE

Manager · since 23 mars 2011

Ended

Astrid de GERLACHE

Manager

Ended

Astrid DE GERLACHE

Mandate

Ended

Réginald HENRY DE FRAHAN

Manager · until 23 mars 2011

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office13/10/2023
MAATSCHAPPELIJKE ZETEL - ADRESSEN ANDERS DAN MAATSCHAPPELIJKE ZETEL
PDF
Mandates05/10/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - BENAMING - DIVERSEN - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/05/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/05/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates08/11/2013
DEMISSIONS, NOMINATIONS
PDF
Mandates11/04/2011
DEMISSIONS, NOMINATIONS
PDF
Registered office09/12/2009
SIEGE SOCIAL
PDF
Registered office10/08/2005
SIEGE SOCIAL
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 202543,3 k €↓
2024
Annual accounts 202482,6 k €↑
2024
Name changeFIRST TRANSMISSION
2023
Annual accounts 202343,5 k €↑
2022
Annual accounts 2022227,9 €↑
2022
Name changeFIRST CARDS
2021
Annual accounts 2021-15,6 k €↓
2020
Annual accounts 202016,8 k €↑
2019
Annual accounts 2019-7,1 k €↑
2018
Annual accounts 2018-15 k €↓
2017
Annual accounts 2017-6 k €↓
2016
Annual accounts 2016-2,2 k €↓
2015
Annual accounts 20157,5 k €↑
2014
Annual accounts 2014-1,7 k €↑
2013
Annual accounts 2013-19,8 k €↑
2012
Annual accounts 2012-23,5 k €↑
2011
Annual accounts 2011-63,8 k €↓
2010
Annual accounts 2010-51,6 k €↓
2009
Annual accounts 2009-16,7 k €↓
2008
Annual accounts 2008-10,3 k €↓
2007
Annual accounts 20072,9 k €
08/03/1993
IncorporationPrivate 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

FIRST TRANSMISSION

Overview

What does FIRST TRANSMISSION 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