NORMAL SITUATION

Kiwa (Belgium)

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Company — Normal situation.

Financial year 2025 · Closed on 31/10/2025

Net result285 k €+6,5 %over 1 year

Revenue2,6 M €-21,4 %over 1 year

Equity683,1 k €+71,6 %over 1 year

Workforce16,9 ETP-14,6 %over 1 year

Identity

Source · BCE/KBO

Kiwa (Belgium) is a company registered in Belgium. It employs on average 16,9 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0463.580.123
Legal form: Public limited company
Contributed capital: 361 973,00 €
Latest accounts: 31/10/2025
Average workforce: 16,9 ETP

Joint committees (2)

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHigh revenue

Financials

Source · NBB, 27 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	2,6 M €	-21.4%	3,3 M €	+6.2%	3,1 M €	+7.3%	2,9 M €	+2.3%	2,8 M €
EBITDA	456,6 k €	+23.9%	368,5 k €	+10.5%	333,6 k €	+24.8%	267,3 k €	+133%	114,9 k €
Operating result	422,2 k €	+10.0%	383,8 k €	+12.8%	340,3 k €	+43.1%	237,8 k €	+87.7%	126,7 k €
Net result	285 k €	+6.5%	267,5 k €	+21.0%	221,1 k €	+39.8%	158,2 k €	+59.2%	99,4 k €
Balance sheet
Equity	683,1 k €	+71.6%	398,2 k €	0.0%	398,2 k €	0.0%	398,2 k €	-0.0%	398,2 k €
Total assets	1,6 M €	-15.0%	1,8 M €	+0.7%	1,8 M €	+5.1%	1,7 M €	-34.3%	2,7 M €
Cash	957,1 k €	-27.2%	1,3 M €	+5.8%	1,2 M €	+33.9%	927,4 k €	+50.1%	617,7 k €
Debts	712,8 k €	-43.2%	1,3 M €	-0.3%	1,3 M €	+6.7%	1,2 M €	-42.3%	2 M €
Other
Workforce	16,9 ETP	-14.6%	19,8 ETP	-1.0%	20,0 ETP	-4.8%	21,0 ETP	0.0%	21,0 ETP

Board of directors

Source · NBB, accounts to 31/10/2025

3 active · 9 ended

Active mandates

Bernard Hernandez

Mandate

Active

Ilse Vanderlocht

Mandate

Active

Luc Leroy

Mandate

Active

Ended mandates

Luc Leroy

Director · since 16 juin 2020 · until 15 juin 2026

Ended

KIWA Deutschland GmbH

Director · since 15 juin 2015 · until 15 juin 2021

Represented by Paulus Hesselink

Ended

KIWA GmbH

Director · since 15 juin 2015 · until 15 juin 2021

Represented by Paulus Hesselink

Ended

KIWA N.V.

Director · since 15 juin 2015 · until 15 juin 2021

Represented by Paulus Hesslink

Ended

Full financial information

Source · NBB

	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	31/10/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	10 months	12 months	12 months	12 months	12 months	12 months
Filing date	24/04/2026	09/07/2025	28/06/2024	06/07/2023	20/06/2022	31/08/2021
General meeting	10/02/2026	16/06/2025	17/06/2024	15/06/2023	15/06/2022	30/07/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 27 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/10/2025	10/02/2026	24/04/2026	Dutch	PDF
Full model	31/12/2024	16/06/2025	09/07/2025	Dutch	PDF
Full model	31/12/2023	17/06/2024	28/06/2024	Dutch	PDF
Full model	31/12/2022	15/06/2023	06/07/2023	Dutch	PDF
Full model	31/12/2021	15/06/2022	20/06/2022	Dutch	PDF
Full model	31/12/2020	30/07/2021	31/08/2021	Dutch	PDF
Full model	31/12/2019	14/08/2020	09/11/2020	Dutch	PDF
Full model	31/12/2018	30/07/2019	31/07/2019	Dutch	PDF
Full model	31/12/2017	29/06/2018	19/07/2018	Dutch	PDF
Full model	31/12/2016	15/06/2017	06/07/2017	Dutch	PDF
Full model	31/12/2015	15/06/2016	14/07/2016	Dutch	PDF
Full model	31/12/2014	28/08/2015	31/08/2015	Dutch	PDF
Full model	31/12/2013	16/06/2014	17/07/2014	Dutch	PDF
Full model	31/12/2012	15/06/2013	26/09/2013	Dutch	PDF
Full model	31/12/2011	15/06/2012	21/08/2012	Dutch	PDF
Full model	31/12/2010	15/06/2011	31/08/2011	Dutch	PDF
Full model	31/12/2009	15/06/2010	18/10/2010	Dutch	PDF
Full model	31/12/2008	15/06/2009	31/08/2009	Dutch	PDF
Full model	31/12/2007	16/06/2008	29/08/2008	Dutch	PDF
Full model	31/12/2006	29/06/2007	27/07/2007	Dutch	PDF
Full model	31/12/2005	15/06/2006	12/07/2006	Dutch	PDF
Full model	31/12/2004	15/06/2005	08/07/2005	Dutch	PDF
Full model	31/12/2003	15/06/2004	28/07/2004	Dutch	PDF
Full model	31/12/2002	16/06/2003	19/11/2003	Dutch	PDF

View all 27 filings

Indicative valuation

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 31/10/2025

3 active · 9 ended

Active mandates

Bernard Hernandez

Mandate

Active

Ilse Vanderlocht

Mandate

Active

Luc Leroy

Mandate

Active

Ended mandates

Luc Leroy

Director · since 16 juin 2020 · until 15 juin 2026

Ended

KIWA Deutschland GmbH

Director · since 15 juin 2015 · until 15 juin 2021

Represented by Paulus Hesselink

Ended

KIWA GmbH

Director · since 15 juin 2015 · until 15 juin 2021

Represented by Paulus Hesselink

Ended

KIWA N.V.

Director · since 15 juin 2015 · until 15 juin 2021

Represented by Paulus Hesslink

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Dissolution24/11/2025
RUBRIEK EINDE (STOPZETTING, INTREKKING STOPZETTING, NIETIGHEID, GER. AK., GERECHTELIJKE REORGANISATIE, ENZ... - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring18/09/2025
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates22/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/04/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/01/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/04/2024
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/11/2021
ONTSLAGEN - BENOEMINGEN
PDF
Other31/12/2020
BENAMING - ALGEMENE VERGADERING
PDF

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A company's peers, by sector and size, are included in the Business plan.

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Timeline

2025
Annual accounts 2025285 k €↑
2024
Annual accounts 2024267,5 k €↑
2023
Annual accounts 2023221,1 k €↑
2022
Annual accounts 2022158,2 k €↑
2021
Annual accounts 202199,4 k €↓
2020
Annual accounts 2020146 k €↑
2019
Annual accounts 2019104,2 k €↓
2018
Annual accounts 2018167,5 k €↑
2017
Annual accounts 201783,1 k €↓
2016
Annual accounts 2016113,7 k €↓
2015
Annual accounts 2015129,6 k €↓
2014
Annual accounts 2014145,7 k €↑
2013
Annual accounts 2013-45,2 k €↓
2012
Annual accounts 2012187,3 k €↓
2011
Annual accounts 2011201,9 k €↑
2010
Annual accounts 2010147,2 k €↑
2009
Annual accounts 2009109,9 k €↑
2008
Annual accounts 2008-60,6 k €↓
2007
Annual accounts 2007-57,7 k €↓
2006
Annual accounts 200639 k €

Kiwa (Belgium)

Overview

Identity

Financials

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

Timeline