ACTIVE

NYRSTAR BELGIUM

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Financial year 2025 · closed on 30/09/2025

Net result

-160,2 M €

+43.5% YoY

Revenue

214,5 M €

+1.1% YoY

Equity

228,6 M €

-41.2% YoY

Workforce

645,5 ETP

+2.5% YoY

What does NYRSTAR BELGIUM do?

NYRSTAR BELGIUM is a Public limited company incorporated in 2004. Its main activity is: Lead, zinc and tin production. Its registered office is in Balen. It employs on average 645,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0865.131.221

Incorporation

20/04/2004

Legal form

Public limited company

Registered office

Zinkstraat 1
2490 Balen · FlandreSee on map

Contributed capital

377 982 441,29 €

Latest accounts

30/09/2025

Average workforce

645,5 ETP

Activities (NACE)

24430Lead, zinc and tin production· main 24430Lead, zinc and tin production 27431Manufacture of electric lighting equipment 27432Manufacture of electric lighting equipment

Joint committees (2)

Signals

Solid equityPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	214,5 M €	+1.1%	212,1 M €	-7.6%	229,5 M €	-10.2%	255,5 M €	+40.3%	182,1 M €	+14.8%	158,6 M €	+32.4%	119,8 M €	-30.4%	172,1 M €	+13.7%	151,4 M €	+8.9%	139,1 M €	-6.9%	149,3 M €	-0.8%	150,5 M €	-14.3%	175,7 M €	+8.1%	162,5 M €	-4.1%	169,5 M €	+1.6%	166,8 M €	-31.4%	243,2 M €	-67.5%	747,2 M €	-31.3%	1,1 Md €
EBITDA	44,0 M €	-9.1%	48,4 M €	+2.5%	47,2 M €	+35.7%	34,7 M €	-7.5%	37,6 M €	+28.2%	29,3 M €	+48.6%	19,7 M €	-28.2%	27,5 M €	+24.3%	22,1 M €	+7.8%	20,5 M €	-13.7%	23,7 M €	-30.0%	33,9 M €	+30.2%	26,0 M €	+13.3%	23,0 M €	+31.9%	17,4 M €	-45.0%	31,7 M €	+150%	-63,3 M €	-268%	37,7 M €	+672%	-6,6 M €
Operating result	14,5 M €	-27.2%	19,9 M €	+10.1%	18,1 M €	+20.2%	15,1 M €	-5.5%	15,9 M €	+75.5%	9,1 M €	+72.6%	5,3 M €	-43.2%	9,3 M €	+99.4%	4,6 M €	+111%	2,2 M €	-66.2%	6,5 M €	-60.9%	16,7 M €	+52.3%	11,0 M €	+9.5%	10,0 M €	+8.4%	9,2 M €	-67.4%	28,4 M €	+143%	-65,8 M €	-361%	25,3 M €	+241%	-17,9 M €
Net result	-160,2 M €	+43.5%	-283,7 M €	+17.8%	-344,9 M €	-67.4%	-206,1 M €	-2116%	10,2 M €	+129%	4,5 M €	+14.9%	3,9 M €	+700%	486,0 k €	-66.6%	1,5 M €	+86.7%	779,9 k €	-67.8%	2,4 M €	-81.5%	13,1 M €	+5.5%	12,4 M €	-7.8%	13,5 M €	-78.9%	63,7 M €	-14.2%	74,2 M €	+308%	18,2 M €	+150%	-36,1 M €	-188%	41,0 M €
Balance sheet
Equity	228,6 M €	-41.2%	388,8 M €	-9.8%	431,3 M €	+61.5%	267,1 M €	-43.6%	473,3 M €	+2.2%	463,1 M €	+1.0%	458,8 M €	+0.8%	455,0 M €	+0.1%	454,6 M €	+0.3%	453,2 M €	+0.4%	451,6 M €	+0.5%	449,3 M €	+33.6%	336,4 M €	+3.8%	324,1 M €	-57.4%	761,7 M €	-39.0%	1,2 Md €	+6.4%	1,2 Md €	+1.6%	1,2 Md €	-3.0%	1,2 Md €
Total assets	336,0 M €	-30.6%	484,4 M €	-32.3%	715,1 M €	+31.1%	545,4 M €	-24.8%	725,1 M €	+3.0%	703,8 M €	-16.7%	845,0 M €	+0.9%	837,1 M €	-2.2%	855,7 M €	-0.4%	859,5 M €	-0.4%	863,0 M €	+2.3%	843,6 M €	-4.3%	881,5 M €	-3.0%	909,1 M €	+2.4%	887,4 M €	-37.4%	1,4 Md €	+10.9%	1,3 Md €	-6.6%	1,4 Md €	+1.1%	1,4 Md €
Cash	234,2 k €	+212%	75,0 k €	+190%	25,9 k €	-97.2%	911,0 k €	+108%	437,2 k €	-57.9%	1,0 M €	-95.4%	22,8 M €	+2486%	881,0 k €	+21.2%	726,7 k €	+37.9%	527,0 k €	-12.7%	603,6 k €	+2.1%	591,1 k €	-9.4%	652,7 k €	+74.1%	374,8 k €	+6.7%	351,2 k €	+123%	157,2 k €	-42.1%	271,7 k €	-99.5%	58,9 M €	+22355%	262,4 k €
Debts	88,6 M €	+13.6%	78,0 M €	-70.9%	268,4 M €	+1.8%	263,6 M €	+13.1%	233,1 M €	+6.0%	219,9 M €	-38.0%	354,5 M €	+2.1%	347,2 M €	-4.6%	363,8 M €	+1.5%	358,6 M €	-1.5%	363,9 M €	+5.6%	344,4 M €	-29.1%	486,1 M €	-2.2%	496,9 M €	+942%	47,7 M €	-1.5%	48,4 M €	+21.0%	40,0 M €	-73.1%	148,9 M €	+6.9%	139,2 M €
Other
Workforce	645,5 ETP	+2.5%	629,7 ETP	+0.5%	626,6 ETP	-0.5%	629,6 ETP	+6.0%	593,8 ETP	+3.6%	573,2 ETP	-0.2%	574,1 ETP	-0.5%	576,7 ETP	+1.0%	570,8 ETP	+7.1%	533,2 ETP	-0.5%	535,7 ETP	-0.8%	540,1 ETP	-0.8%	544,5 ETP	-2.0%	555,5 ETP	-0.5%	558,5 ETP	-2.6%	573,6 ETP	-12.6%	656,5 ETP	-14.7%	769,5 ETP	+0.4%	766,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 M€ and 500 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 4 active · 44 ended

Active mandates

Guido J.

Director · since 01 novembre 2025 · until 31 janvier 2028

Active

Steven V.

Managing director · since 01 novembre 2025 · until 29 janvier 2029

Active

Guido Janssen

Managing director · since 29 janvier 2024 · until 31 octobre 2025

Active

Steven Vaelen

Director · since 13 février 2023 · until 25 janvier 2027

Active

Ended mandates

Guido Janssen

Managing director · since 29 janvier 2024 · until 31 janvier 2028

Ended

Inge Schildermans

Director · since 31 janvier 2022 · until 13 février 2023

Ended

Inge Schildermans

Director · since 31 janvier 2022 · until 26 janvier 2026

Ended

François Marie Irma Guillaume Terwinghe

Director · since 11 mai 2020 · until 30 novembre 2020

Ended

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	01/10/2024	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	13/02/2026	10/02/2025	25/03/2024	21/02/2023	15/02/2022	10/02/2021
General meeting	26/01/2026	27/01/2025	08/03/2024	30/01/2023	31/01/2022	25/01/2021
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

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	30/09/2025	26/01/2026	13/02/2026	Dutch	PDF
Full model	30/09/2024	27/01/2025	10/02/2025	Dutch	PDF
Full modelCorrection	30/09/2023	08/03/2024	25/03/2024	Dutch	PDF
Full model	30/09/2023	29/01/2024	27/02/2024	Dutch	PDF
Full model	30/09/2022	30/01/2023	21/02/2023	Dutch	PDF
Full model	30/09/2021	31/01/2022	15/02/2022	Dutch	PDF
Full model	30/09/2020	25/01/2021	10/02/2021	Dutch	PDF
Full model	30/09/2019	11/05/2020	14/05/2020	Dutch	PDF
Full model	31/12/2018	25/11/2019	29/11/2019	Dutch	PDF
Full model	31/12/2017	30/04/2018	18/05/2018	Dutch	PDF
Full model	31/12/2016	24/04/2017	12/05/2017	Dutch	PDF
Full model	31/12/2015	25/04/2016	20/05/2016	Dutch	PDF
Full model	31/12/2014	27/04/2015	22/05/2015	Dutch	PDF
Full model	31/12/2013	28/04/2014	22/05/2014	Dutch	PDF
Full model	31/12/2012	29/04/2013	17/05/2013	Dutch	PDF
Full model	31/12/2011	30/04/2012	29/05/2012	Dutch	PDF
Full model	31/12/2010	26/04/2011	25/05/2011	Dutch	PDF
Full model	31/12/2009	27/04/2010	25/05/2010	Dutch	PDF
Full model	31/12/2008	27/04/2009	27/05/2009	Dutch	PDF
Full model	31/12/2007	29/04/2008	23/05/2008	Dutch	PDF
Full model	31/12/2006	24/04/2007	11/05/2007	Dutch	PDF
Full model	31/12/2006	24/04/2007	11/05/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 M€ and 500 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.

Governance

Board of directors

Seen on filing of 30/09/2025 · 4 active · 44 ended

Active mandates

Guido J.

Director · since 01 novembre 2025 · until 31 janvier 2028

Active

Steven V.

Managing director · since 01 novembre 2025 · until 29 janvier 2029

Active

Guido Janssen

Managing director · since 29 janvier 2024 · until 31 octobre 2025

Active

Steven Vaelen

Director · since 13 février 2023 · until 25 janvier 2027

Active

Ended mandates

Guido Janssen

Managing director · since 29 janvier 2024 · until 31 janvier 2028

Ended

Inge Schildermans

Director · since 31 janvier 2022 · until 13 février 2023

Ended

Inge Schildermans

Director · since 31 janvier 2022 · until 26 janvier 2026

Ended

François Marie Irma Guillaume Terwinghe

Director · since 11 mai 2020 · until 30 novembre 2020

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other30/06/2026
—
PDF
Mandates27/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares25/09/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Capital / shares30/09/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Capital / shares11/09/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates06/05/2024
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares03/04/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates26/03/2024
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

01/11/2025
nominationSteven Vaelen — Gedelegeerd Bestuurder
2025
Annual accounts 2025-160,2 M €↑
18/09/2025
reduction_capital
2024
Annual accounts 2024-283,7 M €↑
19/09/2024
reduction_capital
30/08/2024
augmentation_capitalNyrstar Netherlands (Holdings) B.V.
21/03/2024
augmentation_capital
29/01/2024
reconductionGuido Janssen — Bestuurder en Afgevaardigd Bestuurder
29/01/2024
nominationBart Van Gompel — commissaris
29/01/2024
reduction_capital
2023
Annual accounts 2023-344,9 M €↓
14/09/2023
augmentation_capital
06/09/2023
augmentation_capital
21/08/2023
augmentation_capital
13/02/2023
nominationSteven Vaelen — bestuurder
30/01/2023
reconductionPwC Bedrijfsrevisoren bv — commissaris
30/01/2023
nominationMarc Daelman — vertegenwoordiger van de commissaris
2022
Annual accounts 2022-206,1 M €↓
31/01/2022
reconductionTURNHoUT — bestuurder
2021
Annual accounts 202110,2 M €↑
2020
Annual accounts 20204,5 M €↑
2019
Annual accounts 20193,9 M €↑
2018
Annual accounts 2018486,0 k €↓
2017
Annual accounts 20171,5 M €↑
2016
Annual accounts 2016779,9 k €↓
2015
Annual accounts 20152,4 M €↓
2014
Annual accounts 201413,1 M €↑
2013
Annual accounts 201312,4 M €↓
2012
Annual accounts 201213,5 M €↓
2011
Annual accounts 201163,7 M €↓
2010
Annual accounts 201074,2 M €↑
2009
Annual accounts 200918,2 M €↑
2008
Annual accounts 2008-36,1 M €↓
2007
Annual accounts 200741,0 M €
20/04/2004
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

NYRSTAR BELGIUM

Overview

What does NYRSTAR BELGIUM do?

Trend over 19 financial years

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