ACTIVE

EconCore

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Financial year 2025 · closed on 31/03/2025

Net result

-515,5 k €

+11.6% YoY

Gross margin

913,6 k €

-14.6% YoY

Equity

2,5 M €

-25.2% YoY

Workforce

3,6 ETP

-40.0% YoY

What does EconCore do?

EconCore is a Public limited company incorporated in 2005. Its main activity is: Manufacture of paper and paperboard. Its registered office is in Leuven. It employs on average 3,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0878.425.664

Incorporation

22/12/2005

Legal form

Public limited company

Registered office

Philipssite 5 box 1
3001 Leuven · FlandreSee on map

Contributed capital

2 108 579,00 €

Latest accounts

31/03/2025

Average workforce

3,6 ETP

Activities (NACE)

17120Manufacture of paper and paperboard· main 17120Manufacture of paper and paperboard 21122Manufacture of basic pharmaceutical products 71121Engineering activities and related technical consultancy 71121Engineering activities and related technical consultancy 17210Manufacture of corrugated paper and paperboard and of containers of paper and paperboard+9

Joint committees (5)

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	913,6 k €	-14.6%	1,1 M €	+10.7%	966,9 k €	-40.7%	1,6 M €	-20.5%	2,1 M €	+4.2%	2 M €	+18.5%	1,7 M €	+89.2%	878,8 k €	-18.7%	1,1 M €	-9.2%	1,2 M €	+4.3%	1,1 M €	-13.6%	1,3 M €	+108%	635,8 k €	-56.1%	1,4 M €	+34.2%	1,1 M €	+150%	431,5 k €	+1462%	-31,7 k €
EBITDA	159,5 k €	-52.3%	334,7 k €	+10604%	3,1 k €	-99.5%	694 k €	-42.6%	1,2 M €	-4.7%	1,3 M €	+27.0%	999,3 k €	+219%	312,8 k €	-50.1%	627,1 k €	-16.3%	749,4 k €	+28.9%	581,3 k €	-30.4%	834,9 k €	+2744%	29,4 k €	-96.0%	729,5 k €	-2.6%	749,1 k €	+350%	166,6 k €	+210%	-151,2 k €
Operating result	-765 k €	+3.4%	-791,7 k €	+30.9%	-1,1 M €	-359%	-249,3 k €	-148%	522,4 k €	-24.7%	693,4 k €	+21.2%	571,9 k €	+10770%	5,3 k €	-98.2%	295,1 k €	-24.4%	390,5 k €	+140%	162,4 k €	-47.5%	309,6 k €	+160%	-517 k €	-286%	278,2 k €	-33.5%	418,6 k €	+1270%	-35,8 k €	+83.2%	-212,4 k €
Net result	-515,5 k €	+11.6%	-582,8 k €	+39.2%	-959 k €	-878%	-98,1 k €	-114%	725,8 k €	+4.7%	693,5 k €	+13.2%	612,8 k €	+1203%	47 k €	-85.9%	334 k €	-25.3%	447,1 k €	+84.7%	242,1 k €	-24.7%	321,3 k €	+122%	-1,5 M €	-616%	286,5 k €	-35.1%	441,4 k €	+2649%	16,1 k €	+108%	-209,2 k €
Balance sheet
Equity	2,5 M €	-25.2%	3,3 M €	-23.4%	4,4 M €	-13.5%	5 M €	-0.4%	5,1 M €	+31.2%	3,9 M €	+21.9%	3,2 M €	+24.0%	2,6 M €	+1.9%	2,5 M €	+15.3%	2,2 M €	+25.8%	1,7 M €	+16.3%	1,5 M €	+27.6%	1,2 M €	-48.0%	2,2 M €	+14.6%	2 M €	+295%	495,8 k €	+3.3%	479,8 k €
Total assets	3,7 M €	-24.0%	4,8 M €	-26.7%	6,6 M €	+0.4%	6,6 M €	+5.9%	6,2 M €	+21.8%	5,1 M €	+20.0%	4,2 M €	+20.6%	3,5 M €	+11.0%	3,2 M €	-4.2%	3,3 M €	+19.2%	2,8 M €	-8.5%	3 M €	+12.5%	2,7 M €	-12.9%	3,1 M €	+15.0%	2,7 M €	+114%	1,3 M €	+100.0%	627,6 k €
Cash	341,6 k €	-17.3%	413,1 k €	+70.4%	242,4 k €	-42.9%	424,4 k €	-59.7%	1,1 M €	+7.6%	978,1 k €	+216%	309,9 k €	+506%	51,1 k €	+256%	14,4 k €	-56.8%	33,2 k €	-66.6%	99,3 k €	-13.5%	114,9 k €	-44.7%	207,9 k €	-53.6%	447,9 k €	-27.5%	617,4 k €	+1792%	32,6 k €	-89.2%	303,3 k €
Debts	738,6 k €	-30.3%	1,1 M €	-31.8%	1,6 M €	+66.8%	931,3 k €	+70.1%	547,4 k €	-18.9%	675,1 k €	-6.0%	718,5 k €	+17.5%	611,8 k €	+62.3%	376,9 k €	-44.5%	679,1 k €	+4.4%	650,8 k €	-43.5%	1,2 M €	+2.0%	1,1 M €	+84.2%	613 k €	-16.4%	732,9 k €	-3.5%	759,2 k €	+414%	147,8 k €
Other
Workforce	3,6 ETP	-40.0%	6,0 ETP	-38.8%	9,8 ETP	-3.9%	10,2 ETP	+45.7%	7,0 ETP	0.0%	7,0 ETP	+7.7%	6,5 ETP	+3.2%	6,3 ETP	+10.5%	5,7 ETP	+14.0%	5,0 ETP	-3.8%	5,2 ETP	+4.0%	5,0 ETP	-3.8%	5,2 ETP	-3.7%	5,4 ETP	-6.9%	5,8 ETP	+41.5%	4,1 ETP	+105%	2,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/03/2025 · 5 active · 73 ended

Active mandates

Fritz Schaumann

Director · since 18 février 2025 · until 01 septembre 2026

Active

Bram Perdu

Director

Active

Jan Balcke

Director

Active

Jochen Pflug

Managing director

Active

Walter Van de Weyer

Director

Active

Ended mandates

Roman Thomassin

Director · since 27 juillet 2023

Ended

Bram Perdu

Director · since 02 juin 2023

Ended

Jan Balcke

Director · since 01 janvier 2023

Ended

Jochen Pflug

Managing director · since 06 septembre 2022

Ended

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Annual accounts

Full financial information

	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	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020	01/04/2019
Closing of the financial year	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021	31/03/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	21/10/2025	16/09/2024	31/10/2023	06/10/2022	04/10/2021	21/09/2020
General meeting	02/09/2025	03/09/2024	05/09/2023	06/09/2022	07/09/2021	01/09/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/03/2025	02/09/2025	21/10/2025	Dutch	PDF
Abridged model	31/03/2024	03/09/2024	16/09/2024	Dutch	PDF
Abridged model	31/03/2023	05/09/2023	31/10/2023	Dutch	PDF
Abridged model	31/03/2022	06/09/2022	06/10/2022	Dutch	PDF
Abridged model	31/03/2021	07/09/2021	04/10/2021	Dutch	PDF
Abridged model	31/03/2020	01/09/2020	21/09/2020	Dutch	PDF
Abridged model	31/03/2019	03/09/2019	19/09/2019	Dutch	PDF
Abridged model	31/03/2018	04/09/2018	26/09/2018	Dutch	PDF
Abridged model	31/03/2017	05/09/2017	19/09/2017	Dutch	PDF
Abridged model	31/03/2016	06/09/2016	19/09/2016	Dutch	PDF
Abridged model	31/03/2015	01/09/2015	29/09/2015	Dutch	PDF
Abridged model	31/03/2014	02/09/2014	15/09/2014	Dutch	PDF
Abridged model	31/03/2013	03/09/2013	19/09/2013	Dutch	PDF
Abridged model	31/03/2012	04/09/2012	17/09/2012	Dutch	PDF
Abridged model	31/03/2011	06/09/2011	20/09/2011	Dutch	PDF
Abridged model	31/03/2010	07/09/2010	07/10/2010	Dutch	PDF
Abridged model	31/03/2009	01/09/2009	28/09/2009	Dutch	PDF
Abridged model	31/03/2008	02/09/2008	23/09/2008	Dutch	PDF
Abridged model	31/03/2007	04/09/2007	04/10/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 31/03/2025 · 5 active · 73 ended

Active mandates

Fritz Schaumann

Director · since 18 février 2025 · until 01 septembre 2026

Active

Bram Perdu

Director

Active

Jan Balcke

Director

Active

Jochen Pflug

Managing director

Active

Walter Van de Weyer

Director

Active

Ended mandates

Roman Thomassin

Director · since 27 juillet 2023

Ended

Bram Perdu

Director · since 02 juin 2023

Ended

Jan Balcke

Director · since 01 janvier 2023

Ended

Jochen Pflug

Managing director · since 06 septembre 2022

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates12/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/05/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/10/2024
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Other04/04/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates11/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/10/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/10/2021
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 2025-515,5 k €↑
2024
Annual accounts 2024-582,8 k €↑
2023
Annual accounts 2023-959 k €↓
2022
Annual accounts 2022-98,1 k €↓
2019
Annual accounts 2019725,8 k €↑
2018
Annual accounts 2018693,5 k €↑
2017
Annual accounts 2017612,8 k €↑
2016
Annual accounts 201647 k €↓
2015
Annual accounts 2015334 k €↓
2014
Annual accounts 2014447,1 k €↑
2013
Annual accounts 2013242,1 k €↓
2012
Annual accounts 2012321,3 k €↑
2011
Annual accounts 2011-1,5 M €↓
2010
Annual accounts 2010286,5 k €↓
2009
Annual accounts 2009441,4 k €↑
2008
Annual accounts 200816,1 k €↑
2007
Annual accounts 2007-209,2 k €
22/12/2005
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

EconCore

Overview

What does EconCore do?

Trend over 17 financial years

Indicative valuation

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