ACTIVE

COREX HOLDING

Financial year 2025 · Closed on 31/12/2025

Net result37,4 M €-4,1 %over 1 year

Equity279,4 M €+1,1 %over 1 year

Workforce2,1 ETP-46,2 %over 1 year

Identity

Source · BCE/KBO

COREX HOLDING is a Public limited company incorporated in 2019. Its main activity is: Manufacture of paper and paperboard. Its registered office is in Aalst. It employs on average 2,1 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0725.684.615
Incorporation: 25/04/2019
Legal form: Public limited company
Registered office: Kareelstraat 108
9300 Aalst · FlandreSee on map
Contributed capital: 214 800 000,00 €
Latest accounts: 31/12/2025
Average workforce: 2,1 ETP

Activities (NACE)

17120Manufacture of paper and paperboard· main 17120Manufacture of paper and paperboard 64200Activities of holding companies 64210Activities of holding companies 82100Office administrative and support activities 82110Combined office administrative service activities

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 7 filings

Trend over 7 financial years

	2025		2024		2023		2022		2021
Income statement
EBITDA	1,2 M €	+4.7%	1,1 M €	+1194%	88,1 k €	-88.4%	762,3 k €	+7.5%	708,9 k €
Operating result	1,1 M €	+0.4%	1,1 M €	+1223%	86 k €	-88.5%	746,4 k €	+8.4%	688,8 k €
Net result	37,4 M €	-4.1%	39 M €	+13.0%	34,5 M €	+42.7%	24,2 M €	+44.7%	16,7 M €
Balance sheet
Equity	279,4 M €	+1.1%	276,5 M €	-5.5%	292,5 M €	+159%	112,9 M €	+27.3%	88,7 M €
Total assets	284,1 M €	+1.7%	279,3 M €	-5.4%	295,4 M €	+110%	140,4 M €	+6.0%	132,5 M €
Cash	–		139,1 €	-97.0%	4,6 k €	+892%	467,4 €	+38.1%	338,3 €
Debts	4 M €	+63.3%	2,5 M €	-6.1%	2,6 M €	-90.4%	27,2 M €	-37.5%	43,6 M €
Other
Workforce	2,1 ETP	-46.2%	3,9 ETP	-17.0%	4,7 ETP	0.0%	4,7 ETP	-2.1%	4,8 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
FinCoPro0895.515.777Represented by Erik Peeters	Director25/04/2019 → 06/06/2031
Geert De Meyer	Director25/04/2019 → 06/06/2031
Pierre Macharis	Managing director25/04/2019 → 06/06/2031

Other companies at this address

Kareelstraat 108 9300 Aalst

Company	CBE no.
ARGON● Active	0439.507.196
Astral (Riyadhstraat)● Active	0635.858.556
Bendolla● Active	0754.963.173
Blue Box Partners● Active	0892.106.129
Febex Invest● Active	0507.672.759
HOUSE OF PAPER● Active	1017.506.145
ORZIVAL● Active	1017.505.848
Pine Creek● Active	0784.880.646
SEQUOIA INDUSTRIES● Active	1017.506.046
SUNPACK● Active	0818.053.854
VPK FINANCE● Active	0752.756.721
Waaienbos● Active	0741.889.454
Windy Wood● Active	0726.362.823

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	02/07/2026	03/07/2025	01/07/2024	30/06/2023	25/07/2022	19/07/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	02/06/2023	30/06/2022	04/06/2021
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, 7 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	05/06/2026	02/07/2026	Dutch	PDF
Full model	31/12/2024	06/06/2025	03/07/2025	Dutch	PDF
Full model	31/12/2023	07/06/2024	01/07/2024	Dutch	PDF
Full model	31/12/2022	02/06/2023	30/06/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	25/07/2022	Dutch	PDF
Full model	31/12/2020	04/06/2021	19/07/2021	Dutch	PDF
Full model	31/12/2019	26/06/2020	29/07/2020	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
FinCoPro0895.515.777Represented by Erik Peeters	Director25/04/2019 → 06/06/2031
Geert De Meyer	Director25/04/2019 → 06/06/2031
Pierre Macharis	Managing director25/04/2019 → 06/06/2031

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates20/07/2026
Herbenoeming commissaris
PDF
Mandates24/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/12/2023
ONTSLAGEN - BENOEMINGEN - DIVERSEN
PDF
Mandates13/09/2023
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares11/04/2023
KAPITAAL - AANDELEN
PDF
Capital / shares03/04/2023
KAPITAAL - AANDELEN
PDF
Capital / shares28/09/2021
KAPITAAL - AANDELEN
PDF
Mandates24/09/2021
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

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

Filings7 filings

Mandates

FinCoPro

Geert De Meyer

Pierre Macharis

2019202020212022202320242025202620272028202920302031

COREX HOLDING

Kareelstraat 108, 9300 Aalst

Director

Managing director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Kareelstraat 108, 9300 AalstCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00240652

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
COREX HOLDINGCurrent	accounts 2019 → 2025	Accounts 2025 · 2026-00240652

Events

2025
Annual accounts 202537,4 M €↓
06/06/2025
reconductionPierre Macharis · bestuurder
06/06/2025
reconductionGeert De Meyer · bestuurder
06/06/2025
nominationPierre Macharis · gedelegeerd bestuurder
2024
Annual accounts 202439 M €↑
2023
Annual accounts 202334,5 M €↑
02/06/2023
reconductionKPMG Bedrijfsrevisoren CV · commissaris
02/06/2023
nominationFilip De Bock · vaste vertegenwoordiger
05/04/2023
augmentation_capital
14/03/2023
augmentation_capital
2022
Annual accounts 202224,2 M €↑
2021
Annual accounts 202116,7 M €↑
2020
Annual accounts 20202,4 M €↑
2019
Annual accounts 2019-195,4 k €
25/04/2019
IncorporationPublic limited company

COREX HOLDING

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