ACTIVE

AARDEX Group

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Financial year 2025 · Closed on 31/12/2025

Net result-2,2 M €-302,6 %over 1 year

Gross margin-80,5 k €-293,3 %over 1 year

Equity2,6 M €-43,8 %over 1 year

Workforce9,7 ETP-12,6 %over 1 year

Identity

Source · BCE/KBO

AARDEX Group is a Public limited company incorporated in 2015. Its main activity is: Manufacture of irradiation, electromedical and electrotherapeutic equipment. Its registered office is in Seraing. It employs on average 9,7 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0631.773.965
Incorporation: 04/06/2015
Legal form: Public limited company
Registered office: Rue du Bois St-Jean 15 box 1
4102 Seraing · WallonieSee on map
Contributed capital: 6 288 550,00 €
Latest accounts: 31/12/2025
Average workforce: 9,7 ETP

Activities (NACE)

26600Manufacture of irradiation, electromedical and electrotherapeutic equipment· main 26600Manufacture of irradiation, electromedical and electrotherapeutic equipment 72109Research and experimental development on natural sciences and engineering 72190Other research and experimental development on natural sciences and engineering 46460Wholesale of pharmaceutical goods 46460Wholesale of pharmaceutical goods+2

Joint committees (1)

Signals

Solid equityHealthy social debts

Financials

Source · NBB, 12 filings

Trend over 10 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	-80,5 k €	-293%	41,6 k €	-95.2%	871,1 k €	-34.4%	1,3 M €	+129%	579,9 k €
EBITDA	-1,2 M €	-1.2%	-1,2 M €	-269%	-317,5 k €	-189%	358 k €	+20755%	1,7 k €
Operating result	-2,2 M €	-2.4%	-2,2 M €	-122%	-981,9 k €	-365%	-210,9 k €	+48.5%	-409,6 k €
Net result	-2,2 M €	-303%	-535,8 k €	+65.5%	-1,6 M €	-532%	-245,9 k €	+48.2%	-474,5 k €
Balance sheet
Equity	2,6 M €	-43.8%	4,7 M €	-14.7%	5,5 M €	+445%	1 M €	+2.0%	988,2 k €
Total assets	5,1 M €	-18.2%	6,3 M €	-21.5%	8 M €	+59.5%	5 M €	+15.3%	4,3 M €
Cash	866,6 k €	-16.0%	1 M €	-68.8%	3,3 M €	+342%	747,9 k €	+52.6%	490,1 k €
Debts	2,4 M €	+55.7%	1,6 M €	-37.3%	2,5 M €	-37.6%	4 M €	+19.7%	3,3 M €
Other
Workforce	9,7 ETP	-12.6%	11,1 ETP	+13.3%	9,8 ETP	+4.3%	9,4 ETP	+36.2%	6,9 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 9 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Oliver HAFERBECK	Director08/09/2025 → 30/06/2031
Reto HUSER	Director19/05/2025 → 08/09/2025
THE OTHER HALF1009.914.807Represented by Vrijens Bernard	Managing director01/07/2024 → 10/11/2029Director01/07/2024 → 2024 accountsended
David DALLA VECCHIA0880.063.677Represented by David DALLA VECCHIA	Director06/11/2023 → 06/11/2029Managing director26/06/2018 → 2023 accountsendedManagerlisted until the 2017 accountsended
Dominik VONIER	Director06/11/2023 → 06/11/2029

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Bernard VRIJENS	Director06/11/2023 → 01/07/2024Managing director06/11/2023 → 2023 accounts
M.J.D.D.0451.083.553Represented by Marc MELVIEZ	Director01/02/2022 → 2023 accounts

Other companies at this address

Rue du Bois St-Jean 15 4102 Seraing

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APO-GEE ENGINEERING● Active	0782.323.905
CLUSTER TWIST ou TWIST● Active	0890.814.049
IGNITY● Active	0466.071.439
LHP HEALTHCARE● Active	1022.100.579
METHEORE● Active	0692.780.532
OTRO FOODS● Active	0802.206.331
PuriFungi● Active	0759.502.773
TECHNIFUTUR● Active	0458.220.674

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	24/07/2026	10/07/2025	28/06/2024	22/06/2023	16/06/2022	29/06/2021
General meeting	03/07/2026	30/06/2025	24/06/2024	12/06/2023	13/06/2022	14/06/2021
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, 12 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	03/07/2026	24/07/2026	French	PDF
Abridged model	31/12/2024	30/06/2025	10/07/2025	French	PDF
Abridged model	31/12/2023	24/06/2024	28/06/2024	French	PDF
Abridged model	31/12/2022	12/06/2023	22/06/2023	French	PDF
Abridged model	31/12/2021	13/06/2022	16/06/2022	French	PDF
Abridged model	31/12/2020	14/06/2021	29/06/2021	French	PDF
Full model	31/12/2019	11/06/2020	29/07/2020	French	PDF
Full model	31/12/2018	12/08/2019	26/08/2019	French	PDF
Full modelCorrection	30/09/2017	20/04/2018	25/07/2018	French	PDF
Full modelCorrection	30/09/2017	20/04/2018	05/06/2018	French	PDF
Full model	30/09/2017	20/04/2018	30/04/2018	French	PDF
Full model	30/09/2016	04/05/2017	18/05/2017	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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

5 active · 9 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Oliver HAFERBECK	Director08/09/2025 → 30/06/2031
Reto HUSER	Director19/05/2025 → 08/09/2025
THE OTHER HALF1009.914.807Represented by Vrijens Bernard	Managing director01/07/2024 → 10/11/2029Director01/07/2024 → 2024 accountsended
David DALLA VECCHIA0880.063.677Represented by David DALLA VECCHIA	Director06/11/2023 → 06/11/2029Managing director26/06/2018 → 2023 accountsendedManagerlisted until the 2017 accountsended
Dominik VONIER	Director06/11/2023 → 06/11/2029

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Bernard VRIJENS	Director06/11/2023 → 01/07/2024Managing director06/11/2023 → 2023 accounts
M.J.D.D.0451.083.553Represented by Marc MELVIEZ	Director01/02/2022 → 2023 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates11/12/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates25/09/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates08/07/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates28/05/2025
DEMISSIONS, NOMINATIONS - MODIFICATION FORME JURIDIQUE
PDF
Mandates30/07/2024
DEMISSIONS, NOMINATIONS
PDF
Capital / shares05/02/2024
CAPITAL, ACTIONS
PDF
Mandates22/12/2023
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates25/11/2022
DEMISSIONS, NOMINATIONS
PDF

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings10 filings

Mandates

Oliver HAFERBECK

Reto HUSER

THE OTHER HALF

David DALLA VECCHIA

Dominik VONIER

Bernard VRIJENS

M.J.D.D.

LEVADEX MGT

SOCIETE DE RECHERCHE EN INFORMATIQUE MEDICALE

Ward Hayes DICKSON

Steven Chandler VOORHEES

Lawrence Sydney ESTROP

Show the 2 other mandates

20152016201720182019202020212022202320242025202620272028202920302031

AARDEX GroupWESTROCK BELGIUM

Rue du Bois St-Jean 15 bte 1, 4102 Ougrée

Director

Managing director

DirectorManaging director

Director

Managing directorDirector

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Rue du Bois St-Jean 15 bte 1, 4102 OugréeCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00328978

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
AARDEX GroupCurrent	accounts 2018 → 2025	Accounts 2025 · 2026-00328978
WESTROCK BELGIUM	accounts 2016 → 2017	Accounts 2017 · 2018-11300312
AARDEX Group	accounts 2017	Accounts 2017 · 2018-37900285
WESTROCK BELGIUM	accounts 2017	Accounts 2017 · 2018-16100136

Events

2025
Annual accounts 2025-2,2 M €↓
2024
Annual accounts 2024-535,8 k €↑
2023
Annual accounts 2023-1,6 M €↓
2022
Annual accounts 2022-245,9 k €↑
2021
Annual accounts 2021-474,5 k €↓
2020
Annual accounts 2020-262,3 k €↑
2019
Annual accounts 2019-437,3 k €↓
2018
Annual accounts 2018205 k €↑
2018
Name changeAARDEX Group
2017
Annual accounts 201734,5 k €↑
2017
Name changeWESTROCK BELGIUM
2017
Name changeAARDEX Group
2016
Annual accounts 201630,2 k €
04/06/2015
IncorporationPublic limited company

AARDEX Group

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events