ACTIVE

BURGO ARDENNES

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Financial year 2025 · Closed on 31/12/2025

Net result11,5 M €-24,0 %over 1 year
Revenue379,1 M €-0,1 %over 1 year
Equity87,1 M €-0,3 %over 1 year
Workforce591,5 ETP-0,7 %over 1 year

Identity

Source · BCE/KBO

BURGO ARDENNES is a Public limited company incorporated in 1994. Its main activity is: Manufacture of pulp. Its registered office is in Virton. It employs on average 591,5 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0451.821.842
Incorporation
10/02/1994
Legal form
Public limited company
Registered office
Rue de la Papeterie,St-Mard 1
6762 Virton · WallonieSee on map
Contributed capital
75 000 000,00 €
Latest accounts
31/12/2025
Average workforce
591,5 ETP
Joint committees (2)
  • 129
  • 221
Signals
ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 23 filings

Trend over 17 financial years

20252024202320222021
Income statement
Revenue379,1 M €379,3 M €411,3 M €423,7 M €322,4 M €
EBITDA27,3 M €40,2 M €35 M €35,6 M €27,7 M €
Operating result19,9 M €23,3 M €20 M €18,7 M €13,7 M €
Net result11,5 M €15,1 M €11,6 M €11,3 M €8,5 M €
Balance sheet
Equity87,1 M €87,3 M €87,5 M €85,1 M €84,9 M €
Total assets219,8 M €234,4 M €245 M €247 M €223,1 M €
Cash10,1 M €10,8 M €13,9 M €17,2 M €13 M €
Debts119,7 M €128,5 M €143 M €147,7 M €126,3 M €
Other
Workforce591,5 ETP595,9 ETP591,6 ETP593,9 ETP572,1 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

7 active · 49 ended

Active mandates

Alberto Sorge

Mandate

Active
Dominique Poncelet

Mandate

Active
Francesco Capurro

Mandate

Active
Giorgio Marchi

Mandate

Active
Girolamo Marchi

Mandate

Active
Ignazio Capuano

Mandate

Active
Matteo D'Alberto

Mandate

Active

Ended mandates

Alberto SORGE

Director · since 03 mai 2023 · until 20 avril 2026

Ended
Dominique PONCELET

Director · since 03 mai 2023 · until 20 avril 2026

Ended
Francesco CAPURRO

Director · since 03 mai 2023 · until 20 avril 2026

Ended
Giorgio MARCHI

Director · since 03 mai 2023 · until 20 avril 2026

Ended

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 date30/06/202626/11/202507/06/202424/07/202313/07/202231/05/2021
General meeting04/05/202617/04/202503/05/202420/04/202321/04/202215/04/2021
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, 23 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202504/05/202630/06/2026FrenchPDF
Full modelCorrection31/12/202417/04/202526/11/2025FrenchPDF
Full modelCorrection31/12/202417/04/202503/09/2025FrenchPDF
Full model31/12/202417/04/202527/05/2025FrenchPDF
Full model31/12/202303/05/202407/06/2024FrenchPDF
Full model31/12/202220/04/202324/07/2023FrenchPDF
Full model31/12/202121/04/202213/07/2022FrenchPDF
Full model31/12/202015/04/202131/05/2021FrenchPDF
Full model31/12/201916/04/202014/07/2020FrenchPDF
Full model31/12/201818/04/201924/06/2019FrenchPDF
Full model31/12/201719/04/201814/06/2018FrenchPDF
Full model31/12/201620/04/201726/06/2017FrenchPDF
Full modelCorrection31/12/201521/04/201602/06/2017FrenchPDF
Full model31/12/201521/04/201629/06/2016FrenchPDF
Full model31/12/201422/05/201517/06/2015FrenchPDF
Full model31/12/201317/04/201426/06/2014FrenchPDF
Full model31/12/201218/04/201301/07/2013FrenchPDF
Full model31/12/201119/04/201203/05/2012FrenchPDF
Full model31/12/201021/04/201101/06/2011FrenchPDF
Full model31/12/200915/04/201025/05/2010FrenchPDF
Full model31/12/200816/04/200912/05/2009FrenchPDF
Full model31/12/200717/04/200820/05/2008FrenchPDF
Full model31/12/200619/04/200729/05/2007FrenchPDF

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

7 active · 49 ended

Active mandates

Alberto Sorge

Mandate

Active
Dominique Poncelet

Mandate

Active
Francesco Capurro

Mandate

Active
Giorgio Marchi

Mandate

Active
Girolamo Marchi

Mandate

Active
Ignazio Capuano

Mandate

Active
Matteo D'Alberto

Mandate

Active

Ended mandates

Alberto SORGE

Director · since 03 mai 2023 · until 20 avril 2026

Ended
Dominique PONCELET

Director · since 03 mai 2023 · until 20 avril 2026

Ended
Francesco CAPURRO

Director · since 03 mai 2023 · until 20 avril 2026

Ended
Giorgio MARCHI

Director · since 03 mai 2023 · until 20 avril 2026

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates21/10/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates02/04/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Other20/12/2023
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates26/10/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates07/02/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates09/11/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates07/07/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates25/11/2020
    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 202511,5 M €↓
  2. 2024
    Annual accounts 202415,1 M €↑
  3. 2023
    Annual accounts 202311,6 M €↑
  4. 03/05/2023
    reconductionMarie-Laure Moreau — commissaire
  5. 03/05/2023
    nominationMatteo Guglielmo D'Alberto — administrateur
  6. 03/05/2023
    nominationDominique Poncelet — administrateur
  7. 03/05/2023
    nominationGirolamo Marchi — représentation de la société
  8. 03/05/2023
    nominationIgnazio Capuano — Administrateur Délégué
  9. 03/05/2023
    nominationGiorgio Marchi — administrateur
  10. 03/05/2023
    nominationAlberto Sorge — administrateur
  11. 03/05/2023
    nominationMatteo Guglielmo D’Alberto — administrateur
  12. 03/05/2023
    nominationFrancesco Capurro — administrateur
  13. 01/01/2023
    nominationDominique PONCELET — Directeur Général
  14. 2022
    Annual accounts 202211,3 M €↑
  15. 2021
    Annual accounts 20218,5 M €↑
  16. 2020
    Annual accounts 20202,6 M €↑
  17. 2019
    Annual accounts 20191,7 M €↓
  18. 2018
    Annual accounts 20188,3 M €↑
  19. 2016
    Annual accounts 20161,8 M €↓
  20. 2015
    Annual accounts 20158,5 M €↑
  21. 2014
    Annual accounts 20143,6 M €↑
  22. 2013
    Annual accounts 20132,7 M €↓
  23. 2012
    Annual accounts 20126,9 M €↑
  24. 2011
    Annual accounts 20116 M €↓
  25. 2010
    Annual accounts 201014,3 M €↑
  26. 2009
    Annual accounts 20094,4 M €↓
  27. 2008
    Annual accounts 200815,9 M €
  28. 10/02/1994
    IncorporationPublic limited company