ACTIVE

Baltimore Aircoil Belgium

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Financial year 2025 · Closed on 30/09/2025

Net result184,9 k €+4,2 %over 1 year

Gross margin1,1 M €+2,3 %over 1 year

Equity691,5 k €+36,5 %over 1 year

Workforce9,7 ETP+5,4 %over 1 year

Identity

Source · BCE/KBO

Baltimore Aircoil Belgium is a Public limited company incorporated in 2003. Its main activity is: Construction of buildings. Its registered office is in Heist-op-den-Berg. It employs on average 9,7 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0859.582.227
Incorporation: 07/07/2003
Legal form: Public limited company
Registered office: Industriepark Zn
2220 Heist-op-den-Berg · FlandreSee on map
Contributed capital: 61 500,00 €
Latest accounts: 30/09/2025
Average workforce: 9,7 ETP

Activities (NACE)

41000Construction of buildings· main 43222Plumbing, heat and air-conditioning installation 43222Plumbing, heat and air-conditioning installation 46647Wholesale of machinery for the textile industry and of sewing and knitting machines 46697Wholesale of other machinery and equipment 36000Water collection, treatment and supply+1

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

Financials

Source · NBB, 20 filings

Trend over 18 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	1,1 M €	+2.3%	1,1 M €	+17.5%	944,2 k €	+61.9%	583,4 k €	+13.6%	513,5 k €
EBITDA	262,6 k €	+4.7%	250,8 k €	+12.2%	223,5 k €	+51.8%	147,2 k €	+8.6%	135,6 k €
Operating result	262,6 k €	+4.7%	250,8 k €	+12.2%	223,5 k €	+51.8%	147,2 k €	+8.6%	135,6 k €
Net result	184,9 k €	+4.2%	177,5 k €	+13.5%	156,3 k €	+58.6%	98,6 k €	+6.4%	92,6 k €
Balance sheet
Equity	691,5 k €	+36.5%	506,5 k €	+53.9%	329,1 k €	+90.5%	172,8 k €	+133%	74,2 k €
Total assets	999,4 k €	+27.9%	781,1 k €	+27.4%	613,2 k €	+93.1%	317,6 k €	-29.4%	449,8 k €
Cash	276,9 k €	-21.9%	354,3 k €	+77.3%	199,9 k €	+95.1%	102,4 k €	-14.7%	120 k €
Debts	307,9 k €	+12.1%	274,6 k €	-3.4%	284,1 k €	+96.2%	144,8 k €	-61.4%	375,6 k €
Other
Workforce	9,7 ETP	+5.4%	9,2 ETP	+13.6%	8,1 ETP	+30.6%	6,2 ETP	+5.1%	5,9 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Board of directors

Source · NBB, accounts to 30/09/2025

3 active · 38 ended

Active mandates

VOLUNTAS CONSULTANCY

Managing director · since 19 septembre 2025 · until 04 mars 2030 · 1015.773.706

Represented by David Jacobs

Active

David Jacobs

Managing director · since 04 mars 2024 · until 19 septembre 2025

Active

Veerle Proost

Director · since 04 mars 2024 · until 04 mars 2030

Active

Ended mandates

David Jacobs

Managing director · since 04 mars 2024 · until 04 mars 2030

Ended

David Jacobs

Managing director · since 02 mars 2021 · until 04 mars 2024

Ended

Hervé Ciocca

Director · since 02 mars 2021 · until 04 mars 2024

Ended

Veerle Proost

Director · since 02 mars 2021 · until 04 mars 2024

Ended

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	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	26/03/2026	25/03/2025	26/03/2024	13/03/2023	16/03/2022	16/03/2021
General meeting	02/03/2026	03/03/2025	04/03/2024	06/03/2023	07/03/2022	01/03/2021
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, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	02/03/2026	26/03/2026	Dutch	PDF
Abridged model	30/09/2024	03/03/2025	25/03/2025	Dutch	PDF
Abridged model	30/09/2023	04/03/2024	26/03/2024	Dutch	PDF
Abridged model	30/09/2022	06/03/2023	13/03/2023	Dutch	PDF
Abridged model	30/09/2021	07/03/2022	16/03/2022	Dutch	PDF
Abridged model	30/09/2020	01/03/2021	16/03/2021	Dutch	PDF
Abridged model	30/09/2019	02/03/2020	18/03/2020	Dutch	PDF
Abridged model	30/09/2018	04/03/2019	26/03/2019	Dutch	PDF
Full model	30/09/2017	05/03/2018	12/03/2018	Dutch	PDF
Full model	30/09/2016	06/03/2017	13/03/2017	Dutch	PDF
Full model	30/09/2015	07/03/2016	14/03/2016	Dutch	PDF
Full model	30/09/2014	02/03/2015	18/03/2015	Dutch	PDF
Full model	30/09/2013	03/03/2014	10/03/2014	Dutch	PDF
Full model	30/09/2012	04/03/2013	02/04/2013	Dutch	PDF
Full model	30/09/2011	05/03/2012	28/03/2012	Dutch	PDF
Full model	30/09/2010	13/05/2011	14/06/2011	Dutch	PDF
Full model	30/09/2009	01/03/2010	30/03/2010	Dutch	PDF
Full model	30/09/2008	02/03/2009	31/03/2009	Dutch	PDF
Full model	30/09/2007	03/03/2008	31/03/2008	Dutch	PDF
Full model	30/09/2006	05/03/2007	29/03/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 30/09/2025

3 active · 38 ended

Active mandates

VOLUNTAS CONSULTANCY

Managing director · since 19 septembre 2025 · until 04 mars 2030 · 1015.773.706

Represented by David Jacobs

Active

David Jacobs

Managing director · since 04 mars 2024 · until 19 septembre 2025

Active

Veerle Proost

Director · since 04 mars 2024 · until 04 mars 2030

Active

Ended mandates

David Jacobs

Managing director · since 04 mars 2024 · until 04 mars 2030

Ended

David Jacobs

Managing director · since 02 mars 2021 · until 04 mars 2024

Ended

Hervé Ciocca

Director · since 02 mars 2021 · until 04 mars 2024

Ended

Veerle Proost

Director · since 02 mars 2021 · until 04 mars 2024

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates25/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/04/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/06/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/02/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other28/06/2023
DIVERSEN
PDF
Other25/04/2023
BENAMING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates07/04/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/05/2021
ONTSLAGEN - BENOEMINGEN
PDF

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

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Timeline

2025
Annual accounts 2025184,9 k €↑
2024
Annual accounts 2024177,5 k €↑
2023
Annual accounts 2023156,3 k €↑
2023
Name changeBaltimore Aircoil Belgium NV
2022
Annual accounts 202298,6 k €↑
2022
Name changeBalticare
2021
Annual accounts 202192,6 k €↑
2020
Annual accounts 202090,9 k €↓
2019
Annual accounts 2019103,2 k €↑
2018
Annual accounts 201894 k €↓
2017
Annual accounts 201795,6 k €↓
2016
Annual accounts 201696 k €↑
2015
Annual accounts 2015-90,1 k €↓
2014
Annual accounts 2014132,4 k €↑
2013
Annual accounts 201351 k €↓
2012
Annual accounts 201258 k €↓
2011
Annual accounts 2011356,9 k €↑
2010
Annual accounts 2010293 k €↓
2008
Annual accounts 2008431,1 k €↑
2007
Annual accounts 2007297,9 k €
07/07/2003
IncorporationPublic limited company

Baltimore Aircoil Belgium

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

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