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 · 5 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Luc Leroy	MandateDirector16/06/2014 → 15/06/2026ended
Bernard Hernandez	Mandate
Ilse Vanderlocht	Mandate

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
KIWA Deutschland GmbHRepresented by Paulus Hesselink	Director15/06/2015 → 15/06/2021
KIWA GmbHRepresented by Paulus Hesselink	Director15/06/2015 → 15/06/2021
KIWA N.V.Represented by Paulus Hesslink	Director15/06/2015 → 15/06/2021
Ben Achiel G. De Graeve	Mandate

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
Abridged model	31/12/2001	30/07/2002	24/09/2002	Dutch	PDF
Abridged model	31/12/2000	29/06/2001	27/07/2001	Dutch	PDF
Abridged model	31/12/1999	15/06/2000	17/07/2000	Dutch	PDF

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.

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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 · 5 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Luc Leroy	MandateDirector16/06/2014 → 15/06/2026ended
Bernard Hernandez	Mandate
Ilse Vanderlocht	Mandate

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
KIWA Deutschland GmbHRepresented by Paulus Hesselink	Director15/06/2015 → 15/06/2021
KIWA GmbHRepresented by Paulus Hesselink	Director15/06/2015 → 15/06/2021
KIWA N.V.Represented by Paulus Hesslink	Director15/06/2015 → 15/06/2021
Ben Achiel G. De Graeve	Mandate

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Restructuring24/11/2025
VERRICHTING GELIJKGESTELD MET EEN FUSIE DOOR OVERNEMING !
PDF
Restructuring18/09/2025
Fusievoorstel opgesteld overeenkomstig artikel 12:7, 1° en 12:50 WVV
PDF
Mandates22/08/2025
MANDAAT COMMISSARIS: ONTSLAG & BENOEMING
PDF
Mandates24/04/2025
MANDAAT BESTUURDER: ONTSLAG & BENOEMING
PDF
Mandates16/01/2025
MANDAAT COMMISSARIS: BENOEMING
PDF
Mandates16/04/2024
Ontslag van een bestuurder — Kwijting - Benoeming van een bestuurder -
PDF
Mandates30/11/2021
ONTSLAGEN - BENOEMINGEN
PDF
Other31/12/2020
BENAMING - ALGEMENE VERGADERING
PDF

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Timeline

Source · CBE, NBB annual accounts

Year

Identity

Name

Registered office

Annual accounts

Filings20 filings

Mandates

Luc Leroy

KIWA Deutschland GmbH

KIWA GmbH

KIWA N.V.

200620072008200920102011201220132014201520162017201820192020202120222023202420252026

Kiwa (Belgium)

Olieslagerslaan (Jan) 35, 1800 VilvoordeGrotesteenweg 110, 2600 Berchem (Antwerp)

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Olieslagerslaan (Jan) 35, 1800 Vilvoorde	accounts 2023 → 2025	Accounts 2025 · 2026-00089279
Grotesteenweg 110, 2600 Berchem (Antwerp)	accounts 2021 → 2022	Accounts 2022 · 2023-00209439

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
Kiwa (Belgium)	accounts 2021 → 2025	Accounts 2025 · 2026-00089279

Events

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

Registered offices

Company names

Events