VOLUNTARY DISSOLUTION - LIQUIDATION

Exel Composites

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Financial year 2025 · closed on 31/03/2025

Net result

-14,4 k €

+99.8% YoY

Revenue

5,1 M €

-64.2% YoY

Equity

-3,2 M €

-0.5% YoY

Workforce

44,2 ETP

-19.2% YoY

Company — Voluntary dissolution - liquidation.

What does Exel Composites do?

Exel Composites is a Public limited company incorporated in 2004. Its main activity is: Manufacture of plastic plates, sheets, tubes and profiles. Its registered office is in Kortrijk. It employs on average 44,2 ETP workers (FTE).

Legal situation

● Voluntary dissolution - liquidation

BCE/KBO no. / VAT

BE 0862.803.617

Incorporation

20/01/2004

Legal form

Public limited company

Registered office

Spinnerijstraat(Kor) 99 box 22
8500 Kortrijk · FlandreSee on map

Contributed capital

4 300 000,00 €

Latest accounts

31/03/2025

Average workforce

44,2 ETP

Activities (NACE)

22210Manufacture of plastic plates, sheets, tubes and profiles· main 22210Manufacture of plastic plates, sheets, tubes and profiles

Joint committees (2)

Signals

Positive cashflowPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2011		2010
Income statement
Revenue	5,1 M €	-64.2%	14,3 M €	-6.9%	15,3 M €	-1.4%	15,5 M €	+24.0%	12,5 M €	-14.9%	14,7 M €	+16.4%	12,6 M €	+8.5%	11,6 M €	-0.6%	11,7 M €	+6.3%	11 M €	+0.0%	11 M €	+10.9%	9,9 M €	-11.8%	11,3 M €	+17.5%	9,6 M €
EBITDA	279,5 k €	+106%	-4,8 M €	-848%	635 k €	+205%	-604,8 k €	-821%	83,9 k €	-66.7%	252,4 k €	-47.7%	482,3 k €	+2805%	-17,8 k €	-108%	220,8 k €	-63.9%	611,4 k €	-24.9%	814,5 k €	+135%	347,2 k €	-32.0%	510,4 k €	-11.3%	575,6 k €
Operating result	37 k €	+101%	-6,3 M €	-2623%	248,3 k €	+127%	-905,8 k €	-184%	-318,9 k €	-2923%	-10,5 k €	-104%	257,2 k €	+206%	-241,7 k €	-740%	37,8 k €	-91.9%	466 k €	-35.1%	718 k €	+620%	99,7 k €	-68.2%	313 k €	+4.0%	300,8 k €
Net result	-14,4 k €	+99.8%	-6,3 M €	-3142%	207,8 k €	+123%	-911 k €	-185%	-319,4 k €	-1999%	-15,2 k €	-107%	222,7 k €	+222%	-182 k €	-419%	57 k €	-86.1%	408,7 k €	-23.8%	536,6 k €	+301%	133,9 k €	-54.7%	295,9 k €	+3.0%	287,4 k €
Balance sheet
Equity	-3,2 M €	-0.5%	-3,2 M €	-200%	3,2 M €	+7.0%	3 M €	-23.6%	3,9 M €	-12.9%	4,4 M €	-0.3%	4,5 M €	+0.0%	4,5 M €	-19.6%	5,5 M €	+1.0%	5,5 M €	+8.1%	5,1 M €	+11.8%	4,5 M €	-8.7%	5 M €	+6.3%	4,7 M €
Total assets	3,2 M €	-42.8%	5,6 M €	-16.2%	6,6 M €	-7.6%	7,2 M €	+6.6%	6,7 M €	-16.7%	8,1 M €	+5.5%	7,7 M €	-5.6%	8,1 M €	-0.6%	8,2 M €	+3.1%	7,9 M €	+4.1%	7,6 M €	+16.9%	6,5 M €	-12.1%	7,4 M €	+7.7%	6,9 M €
Cash	509,2 k €	-51.8%	1,1 M €	+19.2%	885,2 k €	-21.8%	1,1 M €	+77.7%	636,9 k €	+30.8%	487 k €	+19.9%	406,1 k €	-61.6%	1,1 M €	+30.8%	808 k €	+2.1%	791,3 k €	-18.1%	965,7 k €	-20.3%	1,2 M €	-21.5%	1,5 M €	+17.0%	1,3 M €
Debts	5,5 M €	-32.0%	8 M €	+157%	3,1 M €	-12.1%	3,5 M €	+31.4%	2,7 M €	-23.3%	3,5 M €	+12.3%	3,1 M €	-12.1%	3,6 M €	+39.2%	2,6 M €	+9.5%	2,3 M €	-3.1%	2,4 M €	+29.5%	1,9 M €	-19.0%	2,3 M €	+8.0%	2,1 M €
Other
Workforce	44,2 ETP	-19.2%	54,7 ETP	-5.0%	57,6 ETP	-7.5%	62,3 ETP	+6.3%	58,6 ETP	+10.4%	53,1 ETP	-0.2%	53,2 ETP	+3.3%	51,5 ETP	+9.3%	47,1 ETP	-8.0%	51,2 ETP	+15.8%	44,2 ETP	-5.2%	46,6 ETP	+5.9%	44,0 ETP	+8.9%	40,4 ETP

Governance

Board of directors

Seen on filing of 31/03/2025 · 5 active · 18 ended

Active mandates

Maude Mertens

Liquidator · since 31 mars 2025

Active

Trees Vuylsteke

Liquidator · since 31 mars 2025

Active

Paul Sohlberg

Director · since 23 août 2024 · until 31 mars 2025

Active

Juha Honkanen

Persoon belast met dagelijks bestuur · since 01 février 2023 · until 31 mars 2025

Active

Mikko Rummukainen

Director · since 15 juillet 2022 · until 31 mars 2025

Active

Ended mandates

Juha Honkanen

Persoon belast met dagelijks bestuur · since 01 février 2023

Ended

Kim Sjödahl

Director · since 15 juillet 2022 · until 23 août 2024

Ended

Kim Sjödahl

Director · since 15 juillet 2022 · until 19 mai 2025

Ended

Mikko Rummukainen

Director · since 15 juillet 2022 · until 19 mai 2025

Ended

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Annual accounts

Full financial information

	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	31/03/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	3 months	12 months	12 months	12 months	12 months	12 months
Filing date	09/05/2026	19/08/2025	29/08/2024	15/06/2023	13/06/2022	30/06/2021
General meeting	08/04/2026	25/07/2025	23/08/2024	09/06/2023	10/06/2022	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

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/03/2025	08/04/2026	09/05/2026	Dutch	PDF
Full model	31/12/2024	25/07/2025	19/08/2025	Dutch	PDF
Full model	31/12/2023	23/08/2024	29/08/2024	Dutch	PDF
Full model	31/12/2022	09/06/2023	15/06/2023	Dutch	PDF
Full model	31/12/2021	10/06/2022	13/06/2022	Dutch	PDF
Full model	31/12/2020	04/06/2021	30/06/2021	Dutch	PDF
Full model	31/12/2019	18/05/2020	17/06/2020	Dutch	PDF
Full model	31/12/2018	20/05/2019	23/05/2019	Dutch	PDF
Full model	31/12/2017	29/06/2018	29/06/2018	Dutch	PDF
Full model	31/12/2016	01/06/2017	06/06/2017	Dutch	PDF
Full model	31/12/2015	16/05/2016	20/06/2016	Dutch	PDF
Full model	31/12/2014	18/05/2015	02/06/2015	Dutch	PDF
Full model	31/12/2013	19/05/2014	26/06/2014	Dutch	PDF
Full model	31/12/2012	21/05/2013	17/06/2013	Dutch	PDF
Full model	31/12/2011	21/05/2012	13/06/2012	Dutch	PDF
Full model	31/12/2010	16/05/2011	23/06/2011	Dutch	PDF
Full model	31/12/2009	17/05/2010	10/06/2010	Dutch	PDF
Full model	31/12/2008	30/06/2009	27/07/2009	Dutch	PDF
Full model	31/12/2007	19/05/2008	11/06/2008	Dutch	PDF
Full model	31/12/2006	21/05/2007	12/07/2007	Dutch	PDF

Estimate

Indicative valuation

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 31/03/2025 · 5 active · 18 ended

Active mandates

Maude Mertens

Liquidator · since 31 mars 2025

Active

Trees Vuylsteke

Liquidator · since 31 mars 2025

Active

Paul Sohlberg

Director · since 23 août 2024 · until 31 mars 2025

Active

Juha Honkanen

Persoon belast met dagelijks bestuur · since 01 février 2023 · until 31 mars 2025

Active

Mikko Rummukainen

Director · since 15 juillet 2022 · until 31 mars 2025

Active

Ended mandates

Juha Honkanen

Persoon belast met dagelijks bestuur · since 01 février 2023

Ended

Kim Sjödahl

Director · since 15 juillet 2022 · until 23 août 2024

Ended

Kim Sjödahl

Director · since 15 juillet 2022 · until 19 mai 2025

Ended

Mikko Rummukainen

Director · since 15 juillet 2022 · until 19 mai 2025

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office04/05/2026
MAATSCHAPPELIJKE ZETEL
PDF
Mandates14/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/04/2025
RUBRIEK EINDE (STOPZETTING, INTREKKING STOPZETTING, NIETIGHEID, GER. AK., GERECHTELIJKE REORGANISATIE, ENZ... - ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other14/11/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates28/04/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/10/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/11/2020
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

2025
Annual accounts 2025-14,4 k €↑
2024
Annual accounts 2024-6,3 M €↓
2023
Annual accounts 2023207,8 k €↑
2022
Annual accounts 2022-911 k €↓
2021
Annual accounts 2021-319,4 k €↓
2019
Annual accounts 2019-15,2 k €↓
2018
Annual accounts 2018222,7 k €↑
2017
Annual accounts 2017-182 k €↓
2016
Annual accounts 201657 k €↓
2015
Annual accounts 2015408,7 k €↓
2014
Annual accounts 2014536,6 k €↑
2013
Annual accounts 2013133,9 k €↓
2011
Annual accounts 2011295,9 k €↑
2010
Annual accounts 2010287,4 k €
20/01/2004
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Exel Composites

Overview

What does Exel Composites do?

Trend over 14 financial years

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