ACTIVE

INEOS MANUFACTURING BELGIUM

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Financial year 2025 · closed on 31/12/2025

Net result

3 M €

-93.8% YoY

Revenue

106,2 M €

-2.2% YoY

Equity

174,5 M €

+1.8% YoY

Workforce

279,4 ETP

-0.6% YoY

What does INEOS MANUFACTURING BELGIUM do?

INEOS MANUFACTURING BELGIUM is a Public limited company incorporated in 2004. Its main activity is: Manufacture of plastics in primary forms. Its registered office is in Antwerpen. It employs on average 279,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0869.926.088

Incorporation

10/11/2004

Legal form

Public limited company

Registered office

Scheldelaan 482
2040 Antwerpen · FlandreSee on map

Contributed capital

116 195 853,78 €

Latest accounts

31/12/2025

Average workforce

279,4 ETP

Activities (NACE)

20160Manufacture of plastics in primary forms· main 20160Manufacture of plastics in primary forms

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	106,2 M €	-2.2%	108,5 M €	-2.0%	110,8 M €	-33.7%	167,2 M €	+47.5%	113,3 M €	+41.5%	80,1 M €	-11.4%	90,4 M €	+3.0%	87,8 M €	+6.1%	82,7 M €	+10.9%	74,6 M €	-6.8%	80,1 M €	+6.2%	75,4 M €	-0.5%	75,8 M €	-3.7%	78,7 M €	-9.2%	86,7 M €	-9.8%	96,1 M €	+4.9%	91,7 M €	-17.7%	111,5 M €	-4.9%	117,2 M €	-9.7%	129,9 M €
EBITDA	12,9 M €	-20.7%	16,2 M €	+2.6%	15,8 M €	-5.0%	16,6 M €	+6.8%	15,6 M €	+10.8%	14 M €	-37.4%	22,5 M €	+80.0%	12,5 M €	-20.0%	15,6 M €	+6.8%	14,6 M €	-1.6%	14,8 M €	-19.8%	18,5 M €	+19.8%	15,4 M €	-8.4%	16,9 M €	-38.5%	27,4 M €	-30.9%	39,7 M €	+9.6%	36,2 M €	-21.6%	46,2 M €	-7.0%	49,6 M €	-19.6%	61,7 M €
Operating result	2,5 M €	-5.0%	2,6 M €	-16.4%	3,1 M €	-11.6%	3,5 M €	-18.0%	4,3 M €	+118%	2 M €	+13.0%	1,7 M €	-20.8%	2,2 M €	-57.2%	5,1 M €	+11.1%	4,6 M €	-23.8%	6 M €	-40.4%	10,1 M €	+29.8%	7,8 M €	+48.7%	5,2 M €	-40.0%	8,7 M €	-54.2%	19,1 M €	+18.1%	16,2 M €	+38.5%	11,7 M €	-42.1%	20,2 M €	+4.7%	19,2 M €
Net result	3 M €	-93.8%	48,6 M €	+761%	5,7 M €	+84.4%	3,1 M €	-14.9%	3,6 M €	+104%	1,8 M €	+11.2%	1,6 M €	-6.2%	1,7 M €	-66.4%	5 M €	+11.2%	4,5 M €	-22.7%	5,8 M €	-42.3%	10,1 M €	+32.5%	7,7 M €	+59.2%	4,8 M €	-45.3%	8,8 M €	+0.7%	8,7 M €	+41.4%	6,2 M €	-21.6%	7,9 M €	-12.1%	9 M €	+5.2%	8,5 M €
Balance sheet
Equity	174,5 M €	+1.8%	171,5 M €	+39.6%	122,8 M €	-48.2%	237,2 M €	+0.8%	235,3 M €	+1.6%	231,7 M €	+0.8%	229,9 M €	+0.3%	229,2 M €	+0.4%	228,3 M €	+1.9%	224,1 M €	+2.1%	219,6 M €	+2.7%	213,7 M €	+5.0%	203,6 M €	+3.9%	195,9 M €	+2.5%	191,1 M €	+4.8%	182,3 M €	+5.0%	173,6 M €	+3.7%	167,4 M €	+4.9%	159,5 M €	+6.0%	150,6 M €
Total assets	211 M €	+3.0%	204,8 M €	-27.9%	284,3 M €	-7.3%	306,8 M €	+9.6%	279,8 M €	+10.0%	254,5 M €	-2.9%	262,1 M €	+3.0%	254,4 M €	+0.3%	253,7 M €	+2.7%	247,1 M €	+1.6%	243,2 M €	+3.7%	234,4 M €	+6.2%	220,7 M €	+3.8%	212,7 M €	+1.3%	209,8 M €	+3.6%	202,5 M €	-38.0%	326,7 M €	+1.9%	320,6 M €	-9.4%	353,9 M €	-15.6%	419,3 M €
Cash	173,1 k €	+241%	50,8 k €	-62.1%	134,1 k €	+194%	45,7 k €	-79.2%	219,9 k €	+124%	98 k €	+31.5%	74,5 k €	-58.7%	180,3 k €	+1162%	14,3 k €	-82.0%	79,3 k €	-99.9%	138,2 M €	+6.1%	130,3 M €	+8.0%	120,6 M €	+6.9%	112,8 M €	+6.6%	105,8 M €	+24.3%	85,2 M €	-56.7%	196,5 M €	+22.8%	160 M €	-8.6%	175,1 M €	-19.5%	217,7 M €
Debts	35,6 M €	+9.3%	32,6 M €	-79.8%	161,1 M €	+133%	69,3 M €	+56.9%	44,2 M €	+99.1%	22,2 M €	-28.9%	31,2 M €	+32.5%	23,5 M €	-3.5%	24,4 M €	+12.7%	21,6 M €	-0.6%	21,8 M €	+20.4%	18,1 M €	+23.9%	14,6 M €	-2.9%	15 M €	-8.4%	16,4 M €	-4.4%	17,2 M €	-88.4%	147,3 M €	+0.6%	146,4 M €	-5.6%	155,1 M €	-38.1%	250,4 M €
Other
Workforce	279,4 ETP	-0.6%	281,1 ETP	-6.0%	299,1 ETP	+1.8%	293,9 ETP	+1.1%	290,6 ETP	+3.9%	279,7 ETP	+5.3%	265,5 ETP	+6.1%	250,3 ETP	+1.0%	247,9 ETP	+1.9%	243,3 ETP	+0.8%	241,3 ETP	-2.0%	246,2 ETP	-2.4%	252,3 ETP	-0.3%	253,0 ETP	+3.1%	245,5 ETP	+0.2%	244,9 ETP	-0.1%	245,1 ETP	-3.6%	254,3 ETP	-3.9%	264,7 ETP	-4.2%	276,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 23 ended

Active mandates

Wim Andries

Director · since 01 février 2025 · until 31 mai 2027

Active

Mustafa Özlügedik

Director · since 01 février 2023 · until 31 mai 2027

Active

Serge Bettonville

Director · since 01 octobre 2022 · until 31 mai 2027

Active

Veerle Gonnissen

Director · since 21 juin 2021 · until 01 février 2025

Active

Ended mandates

Mustafa Özlügedik

Director · since 01 février 2023 · until 14 juin 2024

Ended

Serge Bettonville

Director · since 01 octobre 2022 · until 31 mai 2024

Ended

Serge Bettonville

Director · since 01 octobre 2022 · until 14 juin 2024

Ended

Jan De Belder

Director · since 21 juin 2021 · until 01 octobre 2022

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	01/01/2025	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	08/07/2026	25/06/2025	03/07/2024	16/06/2023	14/06/2022	30/06/2021
General meeting	18/06/2026	05/06/2025	14/06/2024	31/05/2023	31/05/2022	21/06/2021
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	31/12/2025	18/06/2026	08/07/2026	Dutch	PDF
Full model	31/12/2024	05/06/2025	25/06/2025	Dutch	PDF
Full model	31/12/2023	14/06/2024	03/07/2024	Dutch	PDF
Full model	31/12/2022	31/05/2023	16/06/2023	Dutch	PDF
Full model	31/12/2021	31/05/2022	14/06/2022	Dutch	PDF
Full model	31/12/2020	21/06/2021	30/06/2021	Dutch	PDF
Full model	31/12/2019	19/06/2020	13/07/2020	Dutch	PDF
Full model	31/12/2018	31/05/2019	21/06/2019	Dutch	PDF
Full model	31/12/2017	31/05/2018	19/06/2018	Dutch	PDF
Full model	31/12/2016	26/06/2017	27/06/2017	Dutch	PDF
Full model	31/12/2015	24/06/2016	01/07/2016	Dutch	PDF
Full model	31/12/2014	01/06/2015	17/06/2015	Dutch	PDF
Full model	31/12/2013	02/06/2014	04/06/2014	Dutch	PDF
Full model	31/12/2012	31/05/2013	03/06/2013	Dutch	PDF
Full model	31/12/2011	31/05/2012	06/06/2012	Dutch	PDF
Full model	31/12/2010	20/06/2011	27/06/2011	Dutch	PDF
Full model	31/12/2009	31/05/2010	28/06/2010	Dutch	PDF
Full model	31/12/2008	26/06/2009	06/07/2009	Dutch	PDF
Full model	31/12/2007	27/06/2008	27/06/2008	Dutch	PDF
Full model	31/12/2006	29/06/2007	18/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 31/12/2025 · 4 active · 23 ended

Active mandates

Wim Andries

Director · since 01 février 2025 · until 31 mai 2027

Active

Mustafa Özlügedik

Director · since 01 février 2023 · until 31 mai 2027

Active

Serge Bettonville

Director · since 01 octobre 2022 · until 31 mai 2027

Active

Veerle Gonnissen

Director · since 21 juin 2021 · until 01 février 2025

Active

Ended mandates

Mustafa Özlügedik

Director · since 01 février 2023 · until 14 juin 2024

Ended

Serge Bettonville

Director · since 01 octobre 2022 · until 31 mai 2024

Ended

Serge Bettonville

Director · since 01 octobre 2022 · until 14 juin 2024

Ended

Jan De Belder

Director · since 21 juin 2021 · until 01 octobre 2022

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/03/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other08/08/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Other26/10/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates22/09/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/12/2022
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

01/06/2026
nominationMarcus Plevoets — bestuurder
2025
Annual accounts 20253 M €↓
05/06/2025
reconductionDeloitte Bedrijsrevisoren BV — commissaris
01/02/2025
nominationWim Andries — bestuurder
2024
Annual accounts 202448,6 M €↑
14/06/2024
reconductionVeerle Gonnissen — bestuurder
14/06/2024
reconductionMustafa Özlügedik — bestuurder
14/06/2024
reconductionSerge Bettonville — bestuurder
2023
Annual accounts 20235,7 M €↑
15/02/2023
nominationMustafa üzlugelik — bestuurder
2022
Annual accounts 20223,1 M €↓
01/10/2022
nominationSerge Bettonville — bestuurder
31/05/2022
reconductionDeloitte Bedrijfsrevisoren BV — commissaris
31/05/2022
nominationCorine Magnin — commissaris
2021
Annual accounts 20213,6 M €↑
2020
Annual accounts 20201,8 M €↑
2019
Annual accounts 20191,6 M €↓
2018
Annual accounts 20181,7 M €↓
2017
Annual accounts 20175 M €↑
2016
Annual accounts 20164,5 M €↓
2015
Annual accounts 20155,8 M €↓
2014
Annual accounts 201410,1 M €↑
2013
Annual accounts 20137,7 M €↑
2012
Annual accounts 20124,8 M €↓
2011
Annual accounts 20118,8 M €↑
2010
Annual accounts 20108,7 M €↑
2009
Annual accounts 20096,2 M €↓
2008
Annual accounts 20087,9 M €↓
2007
Annual accounts 20079 M €↑
2006
Annual accounts 20068,5 M €
10/11/2004
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

INEOS MANUFACTURING BELGIUM

Overview

What does INEOS MANUFACTURING BELGIUM do?

Trend over 20 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