ACTIVE

DB CARGO BELGIUM

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Financial year 2025 · Closed on 31/12/2025

Net result290,9 k €-77,7 %over 1 year
Revenue52 M €-10,8 %over 1 year
Equity2,4 M €+13,9 %over 1 year
Workforce239,6 ETP-7,9 %over 1 year

Identity

Source · BCE/KBO

DB CARGO BELGIUM is a Private limited company incorporated in 2010. Its main activity is: Freight rail transport. Its registered office is in Antwerpen. It employs on average 239,6 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0831.406.596
Incorporation
23/11/2010
Legal form
Private limited company
Registered office
Noorderlaan 111 box 17
2030 Antwerpen · FlandreSee on map
Contributed capital
17 700 000,00 €
Latest accounts
31/12/2025
Average workforce
239,6 ETP
Joint committees (1)
  • 226
Signals
ProfitableGood liquidityPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 17 filings

Trend over 7 financial years

20252024202320222017
Income statement
Revenue52 M €58,3 M €57,2 M €45,4 M €–
EBITDA809,1 k €3,2 M €1,1 M €-6,2 M €-25,9 k €
Operating result1,3 M €2,1 M €609,5 k €-7 M €-25,9 k €
Net result290,9 k €1,3 M €-135,5 k €-7,9 M €30,4 M €
Balance sheet
Equity2,4 M €2,1 M €782,5 k €-6,6 M €68,3 M €
Total assets14,4 M €17 M €13,2 M €5,4 M €68,5 M €
Cash7,3 M €9,8 M €2,4 M €221 k €–
Debts11,5 M €14 M €12,4 M €12 M €131,3 k €
Other
Workforce239,6 ETP260,2 ETP269,3 ETP258,8 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

2 active · 9 ended

Active mandates

Torsten Gülker

Director · since 15 mars 2025 · until 29 février 2028

Active
Stefan Kibbas

Director · since 01 janvier 2025 · until 31 décembre 2027

Active

Ended mandates

Rüdiger Friedrich Gastell

Director · since 01 septembre 2023 · until 14 mars 2025

Ended
Rüdiger Friedrich Gastell

Director · since 01 septembre 2023 · until 31 août 2026

Ended
Ghislain Bartholomé

Director · since 01 juillet 2021 · until 30 juin 2024

Ended
Ghislain Bartholomé

Director · since 01 juillet 2021 · until 31 décembre 2024

Ended

Other companies at this address

Noorderlaan 111 2030 Antwerpen
CompanyCBE no.
Elements Real Estate● Active
0672.917.902
Elements Real Estate II● Active
0725.928.204
Elements Real Estate III● Active
0725.928.303
G.D.S. TRANS SERVICE● Active
0645.988.326
GHASSAN ABOUD GENERAL TRADING● Active
0826.026.759
GHASSAN ABOUD REAL ESTATE● Active
0832.750.641
SAFETY SOLUTIONS ON RAIL● Active
0754.545.677
Tilsit● Active
0695.627.877
ToMACH ENGINEERING● Active
0457.487.929

Full financial information

Source · NBB
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 date07/07/202624/06/202520/01/202531/10/202327/03/202318/08/2021
General meeting30/06/202624/06/202525/06/202431/10/202313/07/202213/07/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 17 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202530/06/202607/07/2026DutchPDF
Full model31/12/202424/06/202524/06/2025DutchPDF
Full modelCorrection31/12/202325/06/202420/01/2025DutchPDF
Full model31/12/202325/06/202410/07/2024DutchPDF
Full model31/12/202231/10/202331/10/2023DutchPDF
Full modelCorrection31/12/202113/07/202227/03/2023DutchPDF
Full model31/12/202113/07/202227/07/2022DutchPDF
Full model31/12/202013/07/202118/08/2021DutchPDF
Full model31/12/201901/04/202115/04/2021DutchPDF
Full model31/12/201825/06/201919/07/2019DutchPDF
Full model31/12/201725/06/201804/07/2018DutchPDF
Full model31/12/201626/06/201705/07/2017DutchPDF
Full model31/12/201527/06/201628/06/2016DutchPDF
Full model31/12/201425/06/201526/06/2015DutchPDF
Full model31/12/201325/06/201430/06/2014DutchPDF
Full model31/12/201225/06/201326/06/2013DutchPDF
Full model31/12/201125/06/201229/06/2012DutchPDF

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

2 active · 9 ended

Active mandates

Torsten Gülker

Director · since 15 mars 2025 · until 29 février 2028

Active
Stefan Kibbas

Director · since 01 janvier 2025 · until 31 décembre 2027

Active

Ended mandates

Rüdiger Friedrich Gastell

Director · since 01 septembre 2023 · until 14 mars 2025

Ended
Rüdiger Friedrich Gastell

Director · since 01 septembre 2023 · until 31 août 2026

Ended
Ghislain Bartholomé

Director · since 01 juillet 2021 · until 30 juin 2024

Ended
Ghislain Bartholomé

Director · since 01 juillet 2021 · until 31 décembre 2024

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates21/05/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates16/05/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates09/12/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates16/01/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other06/10/2023
    DIVERSEN
    PDF
  • Mandates01/02/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates31/01/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other24/06/2021
    DIVERSEN
    PDF

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 2025290,9 k €↓
  2. 15/03/2025
    nominationTorsten Gülker — bestuurder, in de functie van Managing Director Finance
  3. 01/01/2025
    nominationStefan Kibbas — Voorzitter van de Raad van Bestuur en CEO
  4. 2024
    Annual accounts 20241,3 M €↑
  5. 2023
    Annual accounts 2023-135,5 k €↑
  6. 01/09/2023
    nominationRuediger Gastell — bestuurder (Finance/Controlling)
  7. 2022
    Annual accounts 2022-7,9 M €↓
  8. 2022
    Name changeDB Cargo Belgium
  9. 2017
    Annual accounts 201730,4 M €↑
  10. 2016
    Annual accounts 2016-25,7 k €↑
  11. 2012
    Annual accounts 2012-26,3 k €
  12. 2012
    Name changeDB BELGIE HOLDING
  13. 23/11/2010
    IncorporationPrivate limited company