ACTIVE

BLS Cargo Nord

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Financial year 2025 · Closed on 31/12/2025

Net result2,7 M €+25,3 %over 1 year

Revenue111,1 M €+4,2 %over 1 year

Equity4,9 M €+4,4 %over 1 year

Workforce186,3 ETP+8,3 %over 1 year

Identity

Source · BCE/KBO

BLS Cargo Nord is a Public limited company incorporated in 2000. Its main activity is: Freight rail transport. Its registered office is in Antwerpen. It employs on average 186,3 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0471.783.353
Incorporation: 27/04/2000
Legal form: Public limited company
Registered office: Noordersingel 21
2140 Antwerpen · FlandreSee on map
Contributed capital: 3 500 000,00 €
Latest accounts: 31/12/2025
Average workforce: 186,3 ETP

Activities (NACE)

49200Freight rail transport· main 49200Freight rail transport 60100Radio broadcasting

Joint committees (1)

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 25 filings

Trend over 18 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	111,1 M €	+4.2%	106,7 M €	+8.3%	98,5 M €	+14.3%	86,2 M €	+9.4%	78,8 M €
EBITDA	4,4 M €	+60.9%	2,7 M €	+34.9%	2 M €	-26.5%	2,7 M €	+44.5%	1,9 M €
Operating result	4,2 M €	+21.1%	3,4 M €	+65.9%	2,1 M €	-14.2%	2,4 M €	+76.8%	1,4 M €
Net result	2,7 M €	+25.3%	2,2 M €	+10.5%	2 M €	-14.8%	2,3 M €	+73.7%	1,3 M €
Balance sheet
Equity	4,9 M €	+4.4%	4,7 M €	+3.5%	4,5 M €	-1.0%	4,6 M €	+6.9%	4,3 M €
Total assets	20,3 M €	-13.4%	23,4 M €	-3.2%	24,2 M €	+22.9%	19,7 M €	+5.6%	18,7 M €
Cash	310,7 k €	-67.5%	954,5 k €	+172%	350,7 k €	-82.8%	2 M €	-37.7%	3,3 M €
Debts	14,8 M €	-18.5%	18,2 M €	-0.3%	18,3 M €	+34.9%	13,5 M €	+9.1%	12,4 M €
Other
Workforce	186,3 ETP	+8.3%	172,0 ETP	+2.0%	168,6 ETP	+5.2%	160,2 ETP	+4.2%	153,7 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 32 ended

Active mandates

Dirk Stahl

Mandate

Active

Marco Guntern

Mandate

Active

Markus Zgraggen

Mandate

Active

Ended mandates

Marco Guntern

Director · since 01 mars 2020 · until 28 février 2026

Ended

Markus Zgraggen

Director · since 08 janvier 2020 · until 07 janvier 2026

Ended

Dirk Stahl

Director · since 07 mai 2019 · until 06 mai 2025

Ended

Stefanie Burri

Director · since 07 mai 2019 · until 01 mars 2020

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	31/12/2025	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	19/06/2026	19/06/2026	06/05/2025	16/10/2023	09/06/2022	16/06/2021
General meeting	10/06/2026	11/06/2025	12/06/2024	14/06/2023	08/06/2022	09/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 25 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	10/06/2026	19/06/2026	Dutch	PDF
Full modelCorrection	31/12/2024	11/06/2025	19/06/2026	Dutch	PDF
Full model	31/12/2024	11/06/2025	18/06/2025	Dutch	PDF
Full modelCorrection	31/12/2023	12/06/2024	06/05/2025	Dutch	PDF
Full model	31/12/2023	12/06/2024	17/06/2024	Dutch	PDF
Full modelCorrection	31/12/2022	14/06/2023	16/10/2023	Dutch	PDF
Full model	31/12/2022	14/06/2023	15/06/2023	Dutch	PDF
Full model	31/12/2021	08/06/2022	09/06/2022	Dutch	PDF
Full model	31/12/2020	09/06/2021	16/06/2021	Dutch	PDF
Full modelCorrection	31/12/2019	10/06/2020	02/10/2020	Dutch	PDF
Full model	31/12/2019	10/06/2020	15/06/2020	Dutch	PDF
Full model	31/12/2018	02/04/2019	26/04/2019	Dutch	PDF
Full model	31/12/2017	27/06/2018	28/06/2018	Dutch	PDF
Full model	31/12/2016	26/06/2017	28/06/2017	Dutch	PDF
Full modelCorrection	31/12/2015	28/06/2016	27/09/2016	Dutch	PDF
Full model	31/12/2015	28/06/2016	30/06/2016	Dutch	PDF
Full modelCorrection	31/12/2014	30/06/2015	27/09/2016	Dutch	PDF
Full model	31/12/2014	30/06/2015	03/07/2015	Dutch	PDF
Full model	31/12/2013	30/06/2014	30/06/2014	Dutch	PDF
Full model	31/12/2012	15/05/2013	16/05/2013	Dutch	PDF
Full model	31/12/2011	29/06/2012	10/07/2012	Dutch	PDF
Full model	31/12/2010	08/06/2011	30/06/2011	Dutch	PDF
Full model	31/12/2009	09/06/2010	06/09/2010	Dutch	PDF
Full model	31/12/2008	10/06/2009	30/07/2009	Dutch	PDF

View all 25 filings

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.

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 32 ended

Active mandates

Dirk Stahl

Mandate

Active

Marco Guntern

Mandate

Active

Markus Zgraggen

Mandate

Active

Ended mandates

Marco Guntern

Director · since 01 mars 2020 · until 28 février 2026

Ended

Markus Zgraggen

Director · since 08 janvier 2020 · until 07 janvier 2026

Ended

Dirk Stahl

Director · since 07 mai 2019 · until 06 mai 2025

Ended

Stefanie Burri

Director · since 07 mai 2019 · until 01 mars 2020

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates12/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Other26/08/2025
BENAMING
PDF
Mandates21/05/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/07/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/05/2022
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares02/07/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DOEL - KAPITAAL - AANDELEN
PDF
Mandates17/04/2020
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

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

See the Business plan

Timeline

2025
Annual accounts 20252,7 M €↑
2025
Name changeBLS Cargo Nord
2024
Annual accounts 20242,2 M €↑
2023
Annual accounts 20232 M €↓
2022
Annual accounts 20222,3 M €↑
2021
Annual accounts 20211,3 M €↑
2020
Annual accounts 2020435,4 k €↑
2019
Annual accounts 2019-2,9 M €↓
2018
Annual accounts 20181,9 k €↓
2017
Annual accounts 2017150,3 k €↑
2016
Annual accounts 2016-392,9 k €↑
2015
Annual accounts 2015-561,3 k €↓
2014
Annual accounts 2014158,9 k €↑
2013
Annual accounts 2013-273,5 k €↓
2012
Annual accounts 2012-193 k €↑
2011
Annual accounts 2011-2,5 M €↓
2010
Annual accounts 20102 M €↑
2009
Annual accounts 200924,8 k €↓
2008
Name changeCROSSRAIL BENELUX
2007
Annual accounts 2007507,9 k €
2007
Name changeDILLEN & LE JEUNE CARGO
27/04/2000
IncorporationPublic limited company

BLS Cargo Nord

Overview

Identity

Financials

Valuation

Indicative valuation

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