ACTIVE

STUBBE TOBACCO TRADING

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Financial year 2025 · Closed on 31/12/2025

Net result2,3 M €-30,7 %over 1 year

Revenue106,8 M €+1,6 %over 1 year

Equity32,7 M €+2,4 %over 1 year

Workforce16,9 ETP-0,6 %over 1 year

Identity

Source · BCE/KBO

STUBBE TOBACCO TRADING is a Private limited company incorporated in 2004. Its main activity is: Wholesale of tobacco products. Its registered office is in Zonnebeke. It employs on average 16,9 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0863.869.924
Incorporation: 05/03/2004
Legal form: Private limited company
Registered office: Beselarestraat 184 box 2
8980 Zonnebeke · FlandreSee on map
Contributed capital: 100 000,00 €
Latest accounts: 31/12/2025
Average workforce: 16,9 ETP

Activities (NACE)

46350Wholesale of tobacco products· main 46350Wholesale of tobacco products 51350Air transport 46170Agents involved in the sale of food, beverages and tobacco 46170Agents involved in the sale of food, beverages and tobacco 51170Passenger air transport

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 18 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	106,8 M €	+1.6%	105,2 M €	-5.6%	111,4 M €	+40.9%	79,1 M €	-22.1%	101,6 M €
EBITDA	3,9 M €	-16.5%	4,7 M €	-25.1%	6,2 M €	+45.0%	4,3 M €	-25.5%	5,8 M €
Operating result	3,5 M €	-18.6%	4,3 M €	-26.7%	5,8 M €	+48.1%	3,9 M €	-27.7%	5,4 M €
Net result	2,3 M €	-30.7%	3,3 M €	-33.5%	4,9 M €	+203%	1,6 M €	-57.8%	3,9 M €
Balance sheet
Equity	32,7 M €	+2.4%	32 M €	+11.5%	28,7 M €	+20.8%	23,7 M €	+3.9%	22,9 M €
Total assets	37,1 M €	+10.0%	33,8 M €	+3.0%	32,8 M €	+4.7%	31,3 M €	+9.5%	28,6 M €
Cash	10,8 M €	+16.5%	9,3 M €	+195%	3,1 M €	+2.2%	3,1 M €	-56.8%	7,1 M €
Debts	4,4 M €	+144%	1,8 M €	-56.5%	4,1 M €	-45.8%	7,6 M €	+32.2%	5,7 M €
Other
Workforce	16,9 ETP	-0.6%	17,0 ETP	-4.0%	17,7 ETP	-3.8%	18,4 ETP	-4.7%	19,3 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 17 ended

Active mandates

DE VELDHOEK

Managing director · 0477.353.826

Represented by Lieven STUBBE

Active

Goedele MASSCHELEIN

Managing director

Active

Ended mandates

DE VELDHOEK

Director · since 29 mars 2017 · 0477.353.826

Represented by Stubbe Lieven

Ended

DE VELDHOEK

Manager · since 29 mars 2017 · 0477.353.826

Represented by Lieven STUBBE

Ended

Goedele Masschelein

Director · since 29 mars 2017

Ended

Goedele MASSCHELEIN

Manager · since 29 mars 2017

Ended

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	09/06/2026	11/06/2025	07/06/2024	13/06/2023	30/05/2022	18/06/2021
General meeting	27/05/2026	05/06/2025	22/05/2024	16/05/2023	17/05/2022	18/05/2021
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
Full model	31/12/2025	27/05/2026	09/06/2026	Dutch	PDF
Full model	31/12/2024	05/06/2025	11/06/2025	Dutch	PDF
Full model	31/12/2023	22/05/2024	07/06/2024	Dutch	PDF
Full model	31/12/2022	16/05/2023	13/06/2023	Dutch	PDF
Full model	31/12/2021	17/05/2022	30/05/2022	Dutch	PDF
Full model	31/12/2020	18/05/2021	18/06/2021	Dutch	PDF
Full model	31/12/2019	05/06/2020	26/06/2020	Dutch	PDF
Full model	31/12/2018	15/05/2019	14/06/2019	Dutch	PDF
Full model	31/12/2017	14/05/2018	13/06/2018	Dutch	PDF
Full model	31/12/2016	23/06/2017	04/07/2017	Dutch	PDF
Full model	31/12/2015	08/06/2016	09/06/2016	Dutch	PDF
Full model	31/12/2014	21/05/2015	27/05/2015	Dutch	PDF
Full model	31/12/2013	23/05/2014	02/06/2014	Dutch	PDF
Full model	31/12/2012	14/05/2013	15/05/2013	Dutch	PDF
Full model	31/12/2011	15/05/2012	23/05/2012	Dutch	PDF
Full model	31/12/2010	09/05/2011	12/05/2011	Dutch	PDF
Abridged model	31/12/2009	11/05/2010	12/05/2010	Dutch	PDF
Abridged model	31/12/2008	05/05/2009	06/05/2009	Dutch	PDF
Abridged model	31/12/2007	30/04/2008	05/05/2008	Dutch	PDF
Abridged model	31/12/2006	15/05/2007	18/06/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 · 17 ended

Active mandates

DE VELDHOEK

Managing director · 0477.353.826

Represented by Lieven STUBBE

Active

Goedele MASSCHELEIN

Managing director

Active

Ended mandates

DE VELDHOEK

Director · since 29 mars 2017 · 0477.353.826

Represented by Stubbe Lieven

Ended

DE VELDHOEK

Manager · since 29 mars 2017 · 0477.353.826

Represented by Lieven STUBBE

Ended

Goedele Masschelein

Director · since 29 mars 2017

Ended

Goedele MASSCHELEIN

Manager · since 29 mars 2017

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates25/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/02/2024
WIJZIGING RECHTSVORM - BENAMING - ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/11/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/06/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/05/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/06/2015
ONTSLAGEN - BENOEMINGEN
PDF
Registered office02/01/2014
MAATSCHAPPELIJKE ZETEL
PDF
Mandates11/06/2012
ONTSLAGEN - BENOEMINGEN
PDF

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

See the Business plan

Timeline

2025
Annual accounts 20252,3 M €↓
2024
Annual accounts 20243,3 M €↓
2023
Annual accounts 20234,9 M €↑
2022
Annual accounts 20221,6 M €↓
2021
Annual accounts 20213,9 M €↓
2018
Annual accounts 20184,8 M €↑
2017
Annual accounts 20173,7 M €↑
2016
Annual accounts 20163,6 M €↓
2015
Annual accounts 20154,8 M €↑
2014
Annual accounts 20144,6 M €↑
2013
Annual accounts 20132,4 M €↓
2012
Annual accounts 20122,5 M €↑
2011
Annual accounts 20111,8 M €↑
2010
Annual accounts 2010722,7 k €↑
2009
Annual accounts 2009422,8 k €↓
2008
Annual accounts 2008634 k €↑
2007
Annual accounts 2007466,2 k €↓
2006
Annual accounts 2006525,2 k €
05/03/2004
IncorporationPrivate limited company

STUBBE TOBACCO TRADING

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