ACTIVE

ASSOCIATED TERMINAL OPERATORS

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Financial year 2025 · Closed on 31/12/2025

Net result976,5 k €-15,6 %over 1 year

Revenue21,3 M €-1,7 %over 1 year

Equity8,8 M €-20,1 %over 1 year

Workforce44,2 ETP-1,6 %over 1 year

Identity

Source · BCE/KBO

ASSOCIATED TERMINAL OPERATORS is a Public limited company incorporated in 2006. Its main activity is: Service activities incidental to water transportation. Its registered office is in Antwerpen. It employs on average 44,2 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0882.650.114
Incorporation: 20/07/2006
Legal form: Public limited company
Registered office: Zandvoort 2
2030 Antwerpen · FlandreSee on map
Contributed capital: 1 650 000,00 €
Latest accounts: 31/12/2025
Average workforce: 44,2 ETP

Activities (NACE)

52220Service activities incidental to water transportation· main 52220Service activities incidental to water transportation 52241Cargo handling 52241Cargo handling 63111Data processing, hosting and related activities 63220Information service activities

Joint committees (3)

14003
226
30101

Contacts

3 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

Financials

Source · NBB, 19 filings

Trend over 13 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	21,3 M €	-1.7%	21,7 M €	+8.8%	19,9 M €	-7.8%	21,6 M €	+20.8%	17,9 M €
EBITDA	2,3 M €	-1.0%	2,4 M €	-26.9%	3,2 M €	-14.8%	3,8 M €	+54.0%	2,5 M €
Operating result	1,3 M €	-6.5%	1,4 M €	-37.2%	2,2 M €	-19.0%	2,7 M €	+107%	1,3 M €
Net result	976,5 k €	-15.6%	1,2 M €	-24.2%	1,5 M €	-22.6%	2 M €	+119%	900,8 k €
Balance sheet
Equity	8,8 M €	-20.1%	11,1 M €	+9.1%	10,1 M €	+13.7%	8,9 M €	+21.5%	7,3 M €
Total assets	14,6 M €	-11.8%	16,5 M €	+4.7%	15,8 M €	+5.1%	15 M €	+14.0%	13,2 M €
Cash	2,3 M €	+120%	1,1 M €	-81.8%	5,8 M €	+23.6%	4,7 M €	+134%	2 M €
Debts	5,7 M €	+5.0%	5,4 M €	-3.3%	5,6 M €	-7.6%	6,1 M €	+7.9%	5,7 M €
Other
Workforce	44,2 ETP	-1.6%	44,9 ETP	+0.2%	44,8 ETP	-1.8%	45,6 ETP	+4.3%	43,7 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

4 active · 8 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Sauter Transport0417.047.738Represented by Bernard Moyson	Directorsince 13/09/2023
REGINA B.0451.203.022Represented by Johan Gemels	Chairman of the board of directorssince 15/07/2023
LiBerTeam0503.980.029Represented by Bert Calluy	Directorsince 01/07/2022
Erwin Veuskens	Directorsince 26/04/2013

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
VAN MOER GROUP0885.987.706Represented by Eric Noterman	Director15/12/2022 → 2022 accounts
Bernard Poncelet	Chairman of the board of directors26/04/2019 → 2022 accounts
Johan Gemels	Director26/04/2019 → 2019 accountsManaging director26/04/2019 → 2021 accounts

Other companies at this address

Zandvoort 2 2030 Antwerpen

Company	CBE no.
BOORTMALT● Active	0425.041.726
Boortmalt Group● Active	0715.922.059
BOORTMALT INTERNATIONAL● Active	0675.655.478
Brouwershuis Antwerpen vzw● Active	1007.667.078
COPAGEST● Active	0674.749.519

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	31/07/2026	06/06/2025	02/05/2024	02/05/2023	04/07/2022	10/05/2021
General meeting	26/06/2026	26/05/2025	26/04/2024	28/04/2023	30/06/2022	30/04/2021
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, 19 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/06/2026	31/07/2026	Dutch	PDF
Full model	31/12/2024	26/05/2025	06/06/2025	Dutch	PDF
Full model	31/12/2023	26/04/2024	02/05/2024	Dutch	PDF
Full model	31/12/2022	28/04/2023	02/05/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	04/07/2022	Dutch	PDF
Full model	31/12/2020	30/04/2021	10/05/2021	Dutch	PDF
Full model	31/12/2019	24/04/2020	02/06/2020	Dutch	PDF
Full model	31/12/2018	26/04/2019	27/05/2019	Dutch	PDF
Full model	31/12/2017	27/04/2018	14/05/2018	Dutch	PDF
Full model	31/12/2016	28/04/2017	07/06/2017	Dutch	PDF
Full model	31/12/2015	29/04/2016	25/05/2016	Dutch	PDF
Full model	31/12/2014	24/04/2015	03/06/2015	Dutch	PDF
Full model	31/12/2013	25/04/2014	04/06/2014	Dutch	PDF
Full model	31/12/2012	26/04/2013	17/06/2013	Dutch	PDF
Full model	31/12/2011	27/04/2012	07/05/2012	Dutch	PDF
Full model	31/12/2010	29/04/2011	24/05/2011	Dutch	PDF
Full model	31/12/2009	30/04/2010	25/05/2010	Dutch	PDF
Full model	31/12/2008	24/04/2009	28/05/2009	Dutch	PDF
Full model	31/12/2007	25/04/2008	17/07/2008	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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

4 active · 8 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Sauter Transport0417.047.738Represented by Bernard Moyson	Directorsince 13/09/2023
REGINA B.0451.203.022Represented by Johan Gemels	Chairman of the board of directorssince 15/07/2023
LiBerTeam0503.980.029Represented by Bert Calluy	Directorsince 01/07/2022
Erwin Veuskens	Directorsince 26/04/2013

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
VAN MOER GROUP0885.987.706Represented by Eric Noterman	Director15/12/2022 → 2022 accounts
Bernard Poncelet	Chairman of the board of directors26/04/2019 → 2022 accounts
Johan Gemels	Director26/04/2019 → 2019 accountsManaging director26/04/2019 → 2021 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates29/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/08/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/11/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/06/2020
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Other23/09/2019
DIVERSEN
PDF
Mandates29/03/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/09/2017
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings13 filings

Mandates

Sauter Transport

REGINA B.

LiBerTeam

Erwin Veuskens

VAN MOER GROUP

VAN MOER MANAGEMENT

Johan Gemels

Bernard Poncelet

DELO MANAGEMENT & DEVELOPMENT

Johan Stevens

Xavier Buisseret

Paul Van Damme

200620072008200920102011201220132014201520162017201820192020202120222023202420252026

ASSOCIATED TERMINAL OPERATORS

Zandvoort 2, 2030 Antwerp-2030

Director

Chairman of the board of directors

Director

DirectorManaging director

Chairman of the board of directors

Director

Chairman of the board of directors

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Zandvoort 2, 2030 Antwerp-2030Current	accounts 2021 → 2025	Accounts 2025 · 2026-00365999

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
ASSOCIATED TERMINAL OPERATORSCurrent	accounts 2013 → 2025	Accounts 2025 · 2026-00365999

Events

2025
Annual accounts 2025976,5 k €↓
2024
Annual accounts 20241,2 M €↓
2023
Annual accounts 20231,5 M €↓
2022
Annual accounts 20222 M €↑
2021
Annual accounts 2021900,8 k €↑
2020
Annual accounts 2020284 k €↑
2019
Annual accounts 2019126 k €↓
2018
Annual accounts 2018450,8 k €↓
2017
Annual accounts 2017898,1 k €↓
2016
Annual accounts 2016918,6 k €↑
2015
Annual accounts 2015712,6 k €↓
2014
Annual accounts 2014905,8 k €↑
2013
Annual accounts 2013567,1 k €
20/07/2006
IncorporationPublic limited company

ASSOCIATED TERMINAL OPERATORS

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events