ACTIVE

Whitewood Operations

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Financial year 2025 · Closed on 31/12/2025

Net result4,5 M €+728,1 %over 1 year
Gross margin5,4 M €+304,5 %over 1 year
Equity3,2 M €+54,4 %over 1 year
Workforce9,2 ETP+31,4 %over 1 year

Identity

Source · BCE/KBO

Whitewood Operations is a Public limited company incorporated in 2011. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Bruxelles. It employs on average 9,2 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0840.674.551
Incorporation
27/10/2011
Legal form
Public limited company
Registered office
Rue Royale 47
1000 Bruxelles · BruxellesSee on map
Contributed capital
62 000,00 €
Latest accounts
31/12/2025
Average workforce
9,2 ETP
Signals
ProfitablePositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 15 filings

Trend over 14 financial years

20252024202420232022
Income statement
Gross margin5,4 M €1,3 M €1,6 M €2,3 M €-87,1 k €
EBITDA4,5 M €906,3 k €877,8 k €1,5 M €-618,6 k €
Operating result5,2 M €874,8 k €851,3 k €1,5 M €120,4 k €
Net result4,5 M €542,8 k €496,6 k €1 M €69,2 k €
Balance sheet
Equity3,2 M €2,1 M €1,5 M €1 M €74,6 k €
Total assets11,7 M €12,6 M €10,5 M €7,7 M €4,2 M €
Cash964,7 k €233,7 k €1,4 M €207 k €20,3 k €
Debts8,5 M €9,8 M €8,2 M €6 M €3,4 M €
Other
Workforce9,2 ETP7,0 ETP8,5 ETP9,2 ETP8,3 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

3 active · 3 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Boisblanc0810.849.724Represented by Frédéric Van der Planken
Director07/09/2015 → 21/12/2029Managing director11/09/2015 → 2017 accountsended
CECE0750.734.963Represented by Tobias Schwagten
Director04/12/2023 → 04/12/2029
VALÉRIE VERMANDEL0791.629.965Represented by Valérie Vermandel
Director04/12/2023 → 04/12/2029

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
TULING0897.421.630Represented by Jacob Stuyck
Managing director11/09/2015 → 2018 accountsDirector11/09/2015 → 31/03/2023

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Full financial information

Source · NBB
202520242024202320222021
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/04/202401/04/202301/04/202201/04/202101/04/2020
Closing of the financial year31/12/202531/12/202431/03/202431/03/202331/03/202231/03/2021
Length of the financial year12 months9 months12 months12 months12 months12 months
Filing date12/08/202601/07/202528/10/202401/09/202317/10/202227/07/2022
General meeting30/06/202627/06/202528/06/202430/06/202324/06/202225/06/2021
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, 15 filings
ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202530/06/202612/08/2026DutchPDF
Abridged model31/12/202427/06/202501/07/2025DutchPDF
Abridged model31/03/202428/06/202428/10/2024DutchPDF
Abridged model31/03/202330/06/202301/09/2023DutchPDF
Abridged model31/03/202224/06/202217/10/2022DutchPDF
Abridged modelCorrection31/03/202125/06/202127/07/2022DutchPDF
Abridged model31/03/202125/06/202124/08/2021DutchPDF
Abridged model31/03/202026/06/202001/10/2020DutchPDF
Abridged model31/03/201928/06/201931/10/2019DutchPDF
Abridged model31/03/201829/06/201830/09/2018DutchPDF
Abridged model31/03/201730/06/201707/11/2017DutchPDF
Full model31/03/201624/06/201628/09/2016DutchPDF
Full model31/03/201526/06/201525/09/2015DutchPDF
Full model31/03/201427/06/201429/09/2014DutchPDF
Full model31/03/201328/06/201323/07/2013DutchPDF

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

3 active · 3 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Boisblanc0810.849.724Represented by Frédéric Van der Planken
Director07/09/2015 → 21/12/2029Managing director11/09/2015 → 2017 accountsended
CECE0750.734.963Represented by Tobias Schwagten
Director04/12/2023 → 04/12/2029
VALÉRIE VERMANDEL0791.629.965Represented by Valérie Vermandel
Director04/12/2023 → 04/12/2029

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
TULING0897.421.630Represented by Jacob Stuyck
Managing director11/09/2015 → 2018 accountsDirector11/09/2015 → 31/03/2023

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Other27/02/2026
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - BENAMING
    PDF
  • Other23/05/2024
    DIVERSEN - BOEKJAAR
    PDF
  • Mandates18/01/2024
    BENAMING - DIVERSEN - MAATSCHAPPELIJKE ZETEL - DOEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office15/06/2022
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Registered office31/12/2018
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates03/02/2017
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other14/06/2016
    DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates22/09/2015
    BENAMING - MAATSCHAPPELIJKE ZETEL - 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
Filings14 filings
Mandates
Boisblanc
CECE
VALÉRIE VERMANDEL
TULING
FREDERIC VAN DER PLANKEN
Frédéric Van der Planken
2011201220132014201520162017201820192020202120222023202420252026202720282029
Whitewood OperationsWhitewood CapitalWhitewood Capital Real Estate Investment Management (REIM)
Rue Royale 47, 1000 BrusselsVlaamse Kaai 35, 2000 Antwerp
DirectorManaging director
Director
Director
Managing directorDirector
Managing director
Director
CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE
Registered addressPeriodSource
Rue Royale 47, 1000 BrusselsCurrent
accounts 2024 → 2025
Accounts 2025 · 2026-00393747
Vlaamse Kaai 35, 2000 Antwerp
accounts 2022 → 2023
Accounts 2023 · 2023-00406734
Sint Pietersvliet 7, 2000 Antwerp
accounts 2021
Accounts 2021 · 2022-20228922

Company names

Source · NBB annual accounts, CBE
NamePeriodSource
Whitewood OperationsCurrent
accounts 2025
Accounts 2025 · 2026-00393747
Whitewood Capital
accounts 2015 → 2024
Accounts 2024 · 2025-00205944
Whitewood Capital Real Estate Investment Management (REIM)
accounts 2013 → 2014
Accounts 2014 · 2014-60300124

Events

  1. 2025
    Annual accounts 20254,5 M €↑
  2. 2025
    Name changeWhitewood Operations
  3. 2024
    Annual accounts 2024542,8 k €↑
  4. 2024
    Annual accounts 2024496,6 k €↓
  5. 2023
    Annual accounts 20231 M €↑
  6. 2022
    Annual accounts 202269,2 k €↓
  7. 2021
    Annual accounts 2021284,1 k €↑
  8. 2020
    Annual accounts 202074,1 k €↑
  9. 2019
    Annual accounts 2019-142 k €↑
  10. 2018
    Annual accounts 2018-274,3 k €↓
  11. 2017
    Annual accounts 201775,4 k €↓
  12. 2016
    Annual accounts 2016153,7 k €↑
  13. 2015
    Annual accounts 2015-217,2 €↑
  14. 2015
    Name changeWhitewood Capital
  15. 2014
    Annual accounts 2014-298,1 €↑
  16. 2013
    Annual accounts 2013-12 k €
  17. 27/10/2011
    IncorporationPublic limited company