ACTIVE

Cipal Schaubroeck

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Financial year 2025 · closed on 31/12/2025
Net result
2,4 M €
-76.6% YoY
Revenue
95,7 M €
+1.0% YoY
Equity
14,4 M €
-49.1% YoY
Workforce
375,9 ETP
-0.5% YoY

What does Cipal Schaubroeck do?

Cipal Schaubroeck is a Public limited company incorporated in 2016. Its registered office is in Westerlo. It employs on average 375,9 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0664.474.051
Incorporation
10/10/2016
Legal form
Public limited company
Registered office
Nijverheidsstraat 13
2260 Westerlo · FlandreSee on map
Contributed capital
7 835 488,82 €
Latest accounts
31/12/2025
Average workforce
375,9 ETP
Joint committees (1)
  • 200
Contacts
2 public details availableLog in to view
Signals
ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue
View the BCE/KBO Public Search record →
Health score
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Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 7 financial years

2025202420232022202120202019
Income statement
Revenue95,7 M €94,7 M €81,5 M €69,8 M €64,1 M €58,4 M €55,7 M €
EBITDA6 M €14,5 M €9,2 M €5,6 M €7,9 M €6,8 M €7,2 M €
Operating result2,6 M €11,7 M €4,9 M €2,8 M €5,2 M €4,1 M €3,7 M €
Net result2,4 M €10,1 M €4 M €2,2 M €1,2 M €2,1 M €2,7 M €
Balance sheet
Equity14,4 M €28,4 M €18,2 M €14,2 M €13,3 M €12,1 M €11,3 M €
Total assets53,4 M €55,4 M €42,6 M €34,9 M €33,2 M €33,1 M €31,8 M €
Cash12,6 M €6,8 M €2,8 M €2,8 M €3 M €1,5 M €1,1 M €
Debts38,1 M €26,4 M €23,6 M €20,5 M €19,7 M €20,9 M €19,1 M €
Other
Workforce375,9 ETP377,7 ETP385,4 ETP378,8 ETP365,3 ETP346,5 ETP335,9 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 8 active · 11 ended

Active mandates

Bre-Beau

Managing director · since 02 juin 2025 · until 28 mai 2030 · 0743.404.535

Represented by Nico Cras

Active
FLEXIBLE SOLUTIONS

Managing director · since 02 juin 2025 · until 28 juin 2030 · 0471.997.050

Represented by Hans Hulpiau

Active
TSS Management BV

Director · since 02 juin 2025 · until 28 mai 2030 · 1017.421.914

Represented by Salah Abdelmoulah

Active
VERDI

Director · since 02 juin 2025 · until 10 décembre 2025 · 1003.792.721

Represented by Dirk Verstichele

Active
VERDI

Director · since 28 mai 2024 · until 02 juin 2025 · 1003.792.721

Represented by Dirk Verstichele

Active
SCHAUBROECK

Managing director · since 26 mai 2024 · until 02 juin 2025 · 0401.044.520

Represented by Frédéric Schaubroeck

Active
CIPAL

Managing director · since 24 mai 2022 · until 02 juin 2025 · 0442.802.030

Represented by Nico Cras

Active
FLEXIBLE SOLUTIONS

Director · since 24 mai 2022 · until 02 juin 2025 · 0471.997.050

Represented by Hans Hulpiau

Active

Ended mandates

VERDI

Director · since 28 mai 2024 · until 28 mai 2030 · 1003.792.721

Represented by Dirk Verstichele

Ended
SCHAUBROECK

Managing director · since 26 mai 2024 · until 28 mai 2030 · 0401.044.520

Represented by Frédéric Schaubroeck

Ended
CIPAL

Managing director · since 24 mai 2022 · until 23 mai 2028 · 0442.802.030

Represented by Nico Cras

Ended
Dirk Verstichele

Director · since 24 mai 2022 · until 23 mai 2028

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date03/06/202616/06/202511/06/202407/07/202310/06/202215/06/2021
General meeting26/05/202627/05/202528/05/202423/05/202324/05/202225/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

15 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202526/05/202603/06/2026DutchPDF
Full model31/12/202427/05/202516/06/2025DutchPDF
Consolidated accounts31/12/202427/05/202516/06/2025DutchPDF
Full model31/12/202328/05/202411/06/2024DutchPDF
Consolidated accounts31/12/202328/05/202411/06/2024DutchPDF
Full model31/12/202223/05/202307/07/2023DutchPDF
Consolidated accounts31/12/202223/05/202307/07/2023DutchPDF
Full model31/12/202124/05/202210/06/2022DutchPDF
Consolidated accounts31/12/202124/05/202213/06/2022DutchPDF
Full model31/12/202025/05/202115/06/2021DutchPDF
Consolidated accounts31/12/202025/05/202115/06/2021DutchPDF
Full model31/12/201926/05/202016/06/2020DutchPDF
Consolidated accounts31/12/201926/05/202017/06/2020DutchPDF
Full model31/12/201828/05/201918/06/2019DutchPDF
Full model31/12/201729/05/201828/06/2018DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 · 8 active · 11 ended

Active mandates

Bre-Beau

Managing director · since 02 juin 2025 · until 28 mai 2030 · 0743.404.535

Represented by Nico Cras

Active
FLEXIBLE SOLUTIONS

Managing director · since 02 juin 2025 · until 28 juin 2030 · 0471.997.050

Represented by Hans Hulpiau

Active
TSS Management BV

Director · since 02 juin 2025 · until 28 mai 2030 · 1017.421.914

Represented by Salah Abdelmoulah

Active
VERDI

Director · since 02 juin 2025 · until 10 décembre 2025 · 1003.792.721

Represented by Dirk Verstichele

Active
VERDI

Director · since 28 mai 2024 · until 02 juin 2025 · 1003.792.721

Represented by Dirk Verstichele

Active
SCHAUBROECK

Managing director · since 26 mai 2024 · until 02 juin 2025 · 0401.044.520

Represented by Frédéric Schaubroeck

Active
CIPAL

Managing director · since 24 mai 2022 · until 02 juin 2025 · 0442.802.030

Represented by Nico Cras

Active
FLEXIBLE SOLUTIONS

Director · since 24 mai 2022 · until 02 juin 2025 · 0471.997.050

Represented by Hans Hulpiau

Active

Ended mandates

VERDI

Director · since 28 mai 2024 · until 28 mai 2030 · 1003.792.721

Represented by Dirk Verstichele

Ended
SCHAUBROECK

Managing director · since 26 mai 2024 · until 28 mai 2030 · 0401.044.520

Represented by Frédéric Schaubroeck

Ended
CIPAL

Managing director · since 24 mai 2022 · until 23 mai 2028 · 0442.802.030

Represented by Nico Cras

Ended
Dirk Verstichele

Director · since 24 mai 2022 · until 23 mai 2028

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates17/08/2026
    HERBENOEMING COMMISSARIS
    PDF
  • Registered office16/07/2026
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates13/07/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other06/02/2026
    DIVERSEN
    PDF
  • Mandates30/12/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates30/12/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates26/08/2025
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates29/07/2025
    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

Timeline

  1. 2025
    Annual accounts 20252,4 M €↓
  2. 10/12/2025
    nominationFLEXIBLE SOLUTIONS BV — gedelegeerd bestuurder
  3. 10/12/2025
    nominationBRE-BEAU BV — gedelegeerd bestuurder
  4. 02/06/2025
    nominationTSS MANAGEMENT — bestuurder
  5. 02/06/2025
    nominationFLEXIBLE SOLUTIONS — bestuurder
  6. 02/06/2025
    nominationVERDI — bestuurder
  7. 02/06/2025
    nominationBRE-BEAU — bestuurder
  8. 02/06/2025
    nominationTSS Management B.V. — B-bestuurder
  9. 02/06/2025
    nominationBre-Beau BV — A-bestuurder
  10. 02/06/2025
    nominationVERDI CommV — gedelegeerd bestuurder
  11. 2024
    Annual accounts 202410,1 M €↑
  12. 31/10/2024
    reconductionFrédéric Schaubroeck — bestuurder
  13. 31/10/2024
    reconductionFrédéric Schaubroeck — afgevaardigd bestuurder
  14. 28/05/2024
    reconductionSchaubroeck NV — bestuurder
  15. 28/05/2024
    nominationVerdi — bestuurder
  16. 29/04/2024
    nominationNico Cras — chief executive officer (CEO)
  17. 29/04/2024
    nominationDirk Verstichele — chief executive officer (CEO)
  18. 29/04/2024
    nominationHans Hulpiau — chief operating officer (COO)
  19. 29/04/2024
    nominationBart van de Kerkhof — chief financial officer (CFO)
  20. 29/04/2024
    nominationFrédéric Schaubroeck — afgevaardigd bestuurder
  21. 29/04/2024
    nominationGeert Van Poucke — chief strategy officer (CSO)
  22. 29/04/2024
    nominationPatricia Janssens — BU-manager
  23. 29/04/2024
    nominationIsabel Van den Eynde — BU-manager
  24. 29/04/2024
    nominationIsabelle Dehond — BU-manager
  25. 29/04/2024
    nominationTania De Wit — BU-manager
  26. 29/04/2024
    nominationWim Bisschops — BU-manager
  27. 29/04/2024
    nominationLuc Jacobs — BU-manager
  28. 29/04/2024
    nominationTom Wittoeck — BU-manager
  29. 29/04/2024
    nominationLander Hellebosch — Sales back office verantwoordelijke (SBO-verantwoordelijke)
  30. 2023
    Annual accounts 20234 M €↑
  31. 23/05/2023
    reconductionPhilip Callens — commissaris
  32. 2022
    Annual accounts 20222,2 M €↑
  33. 24/05/2022
    reconductionDirk Verstichele — A-Bestuurder
  34. 24/05/2022
    reconductionNico Cras — vaste vertegenwoordiger (voor Cipal NV als B-Bestuurder)
  35. 24/05/2022
    reconductionHans Hulpiau — vaste vertegenwoordiger (voor Flexible Solutions bvba als B-Bestuurder)
  36. 2021
    Annual accounts 20211,2 M €↓
  37. 2020
    Annual accounts 20202,1 M €↓
  38. 2019
    Annual accounts 20192,7 M €
  39. 10/10/2016
    IncorporationPublic limited company