ACTIVE

Steelforce Group

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Financial year 2025 · closed on 31/12/2025

Net result

8,9 M €

-54.5% YoY

Revenue

1,4 M €

+33.3% YoY

Equity

35,9 M €

+5.5% YoY

What does Steelforce Group do?

Steelforce Group is a Public limited company incorporated in 2002. Its main activity is: Activities of holding companies. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0477.502.492

Incorporation

08/05/2002

Legal form

Public limited company

Registered office

Lange Klarenstraat 16
2000 Antwerpen · FlandreSee on map

Contributed capital

3 756 300,00 €

Latest accounts

31/12/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 74151Specialised design activities

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowHigh revenue

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2008		2007
Income statement
Revenue	1,4 M €	+33.3%	1,1 M €	-41.9%	1,8 M €	-14.4%	2,1 M €	-21.6%	2,7 M €	+98.6%	1,4 M €	+8.7%	1,3 M €	+22.0%	1 M €	-6.0%	1,1 M €	-32.8%	1,6 M €	+16.9%	1,4 M €	+27.9%	1,1 M €	-5.8%	1,2 M €	-22.7%	1,5 M €	-47.9%	2,9 M €	-33.1%	4,3 M €	+14.4%	3,8 M €	+48.3%	2,5 M €
EBITDA	-188,3 k €	+39.0%	-308,6 k €	-1300%	-22 k €	-129%	76,4 k €	-81.6%	416 k €	+68.0%	247,7 k €	+3613%	-7 k €	-107%	96,2 k €	-34.1%	146 k €	+58.0%	92,4 k €	-9.6%	102,1 k €	-2.8%	105,1 k €	-54.5%	230,7 k €	-36.8%	365,3 k €	+881%	-46,8 k €	-115%	313,2 k €	-15.1%	368,9 k €	+39.8%	263,8 k €
Operating result	-190,5 k €	+39.1%	-312,9 k €	-1087%	-26,4 k €	-137%	72 k €	-79.4%	349,2 k €	+79.6%	194,4 k €	+412%	-62,4 k €	-272%	36,2 k €	-57.8%	85,8 k €	+173%	31,5 k €	-27.5%	43,5 k €	-4.7%	45,6 k €	-71.4%	159,4 k €	-36.6%	251,2 k €	+198%	-255,9 k €	-661%	45,6 k €	-64.7%	129,2 k €	+115%	60 k €
Net result	8,9 M €	-54.5%	19,5 M €	-21.5%	24,8 M €	+118%	11,4 M €	+75.0%	6,5 M €	+94.1%	3,3 M €	-17.1%	4 M €	+45.4%	2,8 M €	-50.3%	5,6 M €	+30.9%	4,3 M €	-11.9%	4,8 M €	+96.3%	2,5 M €	-41.9%	4,2 M €	+57.4%	2,7 M €	+259%	748,6 k €	-83.0%	4,4 M €	-32.8%	6,6 M €	+25.8%	5,2 M €
Balance sheet
Equity	35,9 M €	+5.5%	34 M €	+93.8%	17,5 M €	+63.2%	10,8 M €	-44.6%	19,4 M €	+17.0%	16,6 M €	-2.0%	16,9 M €	+0.2%	16,9 M €	-6.8%	18,1 M €	+19.2%	15,2 M €	-4.6%	15,9 M €	+13.0%	14,1 M €	-13.7%	16,3 M €	+35.0%	12,1 M €	-28.5%	16,9 M €	+4.6%	16,2 M €	+16.7%	13,8 M €	+90.4%	7,3 M €
Total assets	45,2 M €	-4.2%	47,2 M €	-35.9%	73,5 M €	+116%	34 M €	-2.5%	34,9 M €	+28.6%	27,1 M €	+3.6%	26,2 M €	-8.0%	28,5 M €	+5.7%	26,9 M €	+25.8%	21,4 M €	+8.5%	19,7 M €	+0.6%	19,6 M €	+10.2%	17,8 M €	-0.9%	18 M €	-5.7%	19 M €	-6.9%	20,4 M €	+11.5%	18,3 M €	+20.4%	15,2 M €
Cash	43,7 k €	+234%	13,1 k €	-40.2%	21,9 k €	-60.7%	55,7 k €	+156%	21,7 k €	-78.2%	99,4 k €	+873%	10,2 k €	-10.2%	11,4 k €	-97.5%	464,1 k €	+855%	48,6 k €	+147%	19,7 k €	-77.6%	87,9 k €	+658%	11,6 k €	-66.3%	34,4 k €	+76.0%	19,5 k €	-75.9%	80,9 k €	-70.5%	274,5 k €	+309%	67,1 k €
Debts	9,3 M €	-29.1%	13,1 M €	-76.3%	55,1 M €	+138%	23,2 M €	+50.5%	15,4 M €	+47.4%	10,4 M €	+13.1%	9,2 M €	-20.0%	11,5 M €	+31.5%	8,8 M €	+41.7%	6,2 M €	+63.9%	3,8 M €	-31.3%	5,5 M €	+278%	1,5 M €	-75.1%	5,8 M €	+177%	2,1 M €	-50.4%	4,3 M €	-4.8%	4,5 M €	-43.8%	8 M €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		18,5 ETP	-28.0%	25,7 ETP	+12.7%	22,8 ETP	+9.6%	20,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 7 active · 83 ended

Active mandates

Steel Legacy

Director · since 10 juin 2025 · until 07 juin 2027 · 1023.748.886

Represented by Kurt Crollet

Active

Tomihiro Murakami

Director · since 03 juin 2025 · until 07 juin 2027

Active

Karyco Overseas FZCO

Director · since 23 mai 2025 · until 07 juin 2027 · 1026.408.468

Represented by Ashwani Kapoor

Active

Shuya Sakata

Director · since 13 juin 2024 · until 07 juin 2027

Active

HEXIT

Director · since 16 septembre 2021 · until 07 juin 2027 · 0880.317.065

Represented by Guido Hemeleers

Active

Sone Shinobu

Director · since 16 septembre 2021 · until 07 juin 2027

Active

WATERKEYN INVESTMENTS

Director · since 16 septembre 2021 · until 07 juin 2027 · 0879.808.311

Represented by Jérôme Waterkeyn

Active

Ended mandates

FERRITUDO

Director · since 13 juin 2024 · until 07 juin 2027 · 0554.937.790

Represented by Kurt Crollet

Ended

HEXIT

Director · since 13 juin 2024 · until 07 juin 2027 · 0880.317.065

Represented by Guido HEMELEERS

Ended

KARYCO

Director · since 13 juin 2024 · until 20 mars 2025 · 0892.580.439

Represented by Ashwani Kapoor

Ended

Shinobu Sone

Director · since 13 juin 2024 · until 07 juin 2027

Ended

At this address

Other companies at this address

Company	CBE no.
FERRITUDO● Active	0554.937.790
Steelforce● Active	0402.950.965
Steelforce Europe● Active	0880.726.544
Steelforce Packaging● Active	0784.889.851
Steel Legacy● Active	1023.748.886
TRANSAF BUILDING● Active	0779.319.279
Transsteel● Active	0790.672.437

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Consolidated accounts
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/10/2020	01/10/2019
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	15 months	12 months
Filing date	02/07/2026	10/06/2025	21/06/2024	08/06/2023	20/06/2022	10/06/2022
General meeting	04/06/2026	03/06/2025	13/06/2024	06/06/2023	13/06/2022	01/03/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

44 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	04/06/2026	02/07/2026	Dutch	PDF
Full model	31/12/2024	03/06/2025	10/06/2025	Dutch	PDF
Consolidated accounts	31/12/2024	03/06/2025	10/06/2025	Dutch	PDF
Full model	31/12/2023	13/06/2024	21/06/2024	Dutch	PDF
Consolidated accounts	31/12/2023	13/06/2024	24/06/2024	Dutch	PDF
Full model	31/12/2022	06/06/2023	08/06/2023	Dutch	PDF
Consolidated accounts	31/12/2022	06/06/2023	08/06/2023	Dutch	PDF
Full model	31/12/2021	13/06/2022	20/06/2022	Dutch	PDF
Consolidated accounts	31/12/2021	13/06/2022	23/06/2022	Dutch	PDF
Full model	30/09/2020	01/03/2021	16/03/2021	Dutch	PDF
Consolidated accounts	30/09/2020	01/03/2021	10/06/2022	Dutch	PDF
Consolidated accountsCorrection	30/09/2020	01/01/9999	10/05/2021	Dutch	PDF
Consolidated accounts	30/09/2020	01/03/2021	16/03/2021	Dutch	PDF
Full modelCorrection	30/09/2019	03/03/2020	09/07/2020	Dutch	PDF
Full model	30/09/2019	03/03/2020	18/03/2020	Dutch	PDF
Consolidated accountsCorrection	30/09/2019	03/03/2020	09/07/2020	Dutch	PDF
Consolidated accounts	30/09/2019	03/03/2020	17/03/2020	Dutch	PDF
Full model	30/09/2018	28/02/2019	19/03/2019	Dutch	PDF
Consolidated accounts	30/09/2018	28/02/2019	19/03/2019	Dutch	PDF
Full model	30/09/2017	05/03/2018	20/03/2018	Dutch	PDF
Consolidated accounts	30/09/2017	05/03/2018	26/03/2018	Dutch	PDF
Full model	30/09/2016	09/03/2017	28/03/2017	Dutch	PDF
Consolidated accountsCorrection	30/09/2016	09/03/2017	28/11/2017	Dutch	PDF
Consolidated accounts	30/09/2016	09/03/2017	28/03/2017	Dutch	PDF

View all 44 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 7 active · 83 ended

Active mandates

Steel Legacy

Director · since 10 juin 2025 · until 07 juin 2027 · 1023.748.886

Represented by Kurt Crollet

Active

Tomihiro Murakami

Director · since 03 juin 2025 · until 07 juin 2027

Active

Karyco Overseas FZCO

Director · since 23 mai 2025 · until 07 juin 2027 · 1026.408.468

Represented by Ashwani Kapoor

Active

Shuya Sakata

Director · since 13 juin 2024 · until 07 juin 2027

Active

HEXIT

Director · since 16 septembre 2021 · until 07 juin 2027 · 0880.317.065

Represented by Guido Hemeleers

Active

Sone Shinobu

Director · since 16 septembre 2021 · until 07 juin 2027

Active

WATERKEYN INVESTMENTS

Director · since 16 septembre 2021 · until 07 juin 2027 · 0879.808.311

Represented by Jérôme Waterkeyn

Active

Ended mandates

FERRITUDO

Director · since 13 juin 2024 · until 07 juin 2027 · 0554.937.790

Represented by Kurt Crollet

Ended

HEXIT

Director · since 13 juin 2024 · until 07 juin 2027 · 0880.317.065

Represented by Guido HEMELEERS

Ended

KARYCO

Director · since 13 juin 2024 · until 20 mars 2025 · 0892.580.439

Represented by Ashwani Kapoor

Ended

Shinobu Sone

Director · since 13 juin 2024 · until 07 juin 2027

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/01/2025
ONTSLAGEN - BENOEMINGEN
PDF
Registered office07/11/2024
MAATSCHAPPELIJKE ZETEL
PDF
Mandates02/02/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/01/2022
ONTSLAGEN - BENOEMINGEN
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 20258,9 M €↓
17/07/2025
nominationKurt Crollet — voorzitter van de raad van bestuur
10/06/2025
nominationBV Steel Legacy — bestuurder
03/06/2025
nominationTomihiro Murakami — bestuurder
23/04/2025
nominationKaryco Overseas DMCC — bestuurder
2024
Annual accounts 202419,5 M €↓
13/06/2024
reconductionKurt Crollet — bestuurder
13/06/2024
reconductionGuido Hemeleers — bestuurder
13/06/2024
reconductionJérôme Waterkeyn — bestuurder
13/06/2024
reconductionTaizo Nakawaga — bestuurder
13/06/2024
reconductionShinobu Sone — bestuurder
13/06/2024
nominationShuya Sakata — bestuurder
13/06/2024
nominationPhilippe Venken — commissaris
2023
Annual accounts 202324,8 M €↑
01/08/2023
nominationTadashi Etoh — bestuurder
06/06/2023
nominationDieter Biebaut — vaste vertegenwoordiger commissaris
2022
Annual accounts 202211,4 M €↑
2021
Annual accounts 20216,5 M €↑
2020
Annual accounts 20203,3 M €↓
2019
Annual accounts 20194 M €↑
2018
Annual accounts 20182,8 M €↓
2017
Annual accounts 20175,6 M €↑
2016
Annual accounts 20164,3 M €↓
2015
Annual accounts 20154,8 M €↑
2014
Annual accounts 20142,5 M €↓
2013
Annual accounts 20134,2 M €↑
2012
Annual accounts 20122,7 M €↑
2011
Annual accounts 2011748,6 k €↓
2010
Annual accounts 20104,4 M €↓
2008
Annual accounts 20086,6 M €↑
2008
Name changeSteelforce Group
2007
Annual accounts 20075,2 M €
2007
Name changeSteelFORCE
08/05/2002
IncorporationPublic 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

Steelforce Group

Overview

What does Steelforce Group do?

Trend over 18 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