ACTIVE

PENNEL & FLIPO

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Financial year 2025 · Closed on 31/12/2025

Net result14,7 M €+6,2 %over 1 year

Revenue57,4 M €+4,2 %over 1 year

Equity32,4 M €+17,2 %over 1 year

Workforce98,0 ETP-3,0 %over 1 year

Identity

Source · BCE/KBO

PENNEL & FLIPO is a Public limited company incorporated in 2006. Its main activity is: Manufacture of rubber products. Its registered office is in Mouscron. It employs on average 98,0 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0885.940.788
Incorporation: 18/12/2006
Legal form: Public limited company
Registered office: Boulevard de l'Eurozone 102
7700 Mouscron · WallonieSee on map
Contributed capital: 1 000 000,00 €
Latest accounts: 31/12/2025
Average workforce: 98,0 ETP

Activities (NACE)

22120Manufacture of rubber products· main 22190Manufacture of other rubber products 46649Wholesale of machinery for the textile industry and of sewing and knitting machines 46699Wholesale of other machinery and equipment 51872Air transport 22120Manufacture of rubber products+2

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 19 filings

Trend over 13 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	57,4 M €	+4.2%	55 M €	-1.4%	55,8 M €	-7.0%	60 M €	+21.3%	49,5 M €
EBITDA	20,8 M €	+17.2%	17,8 M €	-5.0%	18,7 M €	-21.4%	23,8 M €	+26.3%	18,9 M €
Operating result	19,4 M €	+12.3%	17,3 M €	-2.3%	17,7 M €	-11.6%	20 M €	+17.2%	17,1 M €
Net result	14,7 M €	+6.2%	13,9 M €	+2.6%	13,5 M €	-9.4%	14,9 M €	+15.6%	12,9 M €
Balance sheet
Equity	32,4 M €	+17.2%	27,6 M €	+16.0%	23,8 M €	+6.2%	22,4 M €	-10.7%	25,1 M €
Total assets	47,2 M €	+8.7%	43,4 M €	+13.8%	38,2 M €	-19.4%	47,4 M €	+10.0%	43,1 M €
Cash	901,4 k €	+25.5%	718,3 k €	-80.8%	3,7 M €	-60.6%	9,5 M €	-3.1%	9,8 M €
Debts	13,6 M €	-7.0%	14,6 M €	+15.1%	12,7 M €	-45.2%	23,1 M €	+40.0%	16,5 M €
Other
Workforce	98,0 ETP	-3.0%	101,0 ETP	-2.5%	103,6 ETP	+3.7%	99,9 ETP	+1.5%	98,4 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 12 ended

Active mandates

Alan LACAN

Director · since 01 mars 2026 · until 30 avril 2032

Active

Sandrine Rambaud

Director · since 26 septembre 2023 · until 30 avril 2029

Active

Flex Composite Group

Chairman of the board of directors · since 27 juin 2022 · until 30 avril 2028

Represented by CAPRIGLIONE EMMANUEL

Active

Ended mandates

Antoine Lecomte

Director · since 04 mars 2024 · until 30 avril 2030

Ended

IDI

Director · since 27 juin 2022 · until 30 avril 2028 · 0664.947.866

Represented by BENTZ JULIEN

Ended

Flex Composite Group

Chairman of the board of directors · since 04 novembre 2016 · until 15 juin 2022

Represented by CAPRIGLIONE EMMANUEL

Ended

IDI

Director · since 04 novembre 2016 · until 15 juin 2022 · 0664.947.866

Represented by BENTZ JULIEN

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	18/05/2026	05/06/2025	24/06/2024	02/06/2023	30/05/2022	18/08/2021
General meeting	30/04/2026	30/04/2025	30/04/2024	02/05/2023	02/05/2022	15/06/2021
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

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	30/04/2026	18/05/2026	French	PDF
Full model	31/12/2024	30/04/2025	05/06/2025	French	PDF
Full model	31/12/2023	30/04/2024	24/06/2024	French	PDF
Full model	31/12/2022	02/05/2023	02/06/2023	French	PDF
Full model	31/12/2021	02/05/2022	30/05/2022	French	PDF
Full model	31/12/2020	15/06/2021	18/08/2021	French	PDF
Full model	31/12/2019	15/06/2020	25/06/2020	French	PDF
Full model	31/12/2018	15/06/2019	24/06/2019	French	PDF
Full model	31/12/2017	15/06/2018	09/07/2018	French	PDF
Full model	31/12/2016	15/06/2017	30/06/2017	French	PDF
Full model	31/12/2015	15/06/2016	18/08/2016	French	PDF
Full model	31/12/2014	15/06/2015	24/08/2015	French	PDF
Abridged model	31/12/2013	16/06/2014	26/08/2014	French	PDF
Abridged model	31/12/2012	15/06/2013	30/08/2013	French	PDF
Abridged model	31/12/2011	15/06/2012	13/07/2012	French	PDF
Abridged model	31/12/2010	15/06/2011	04/08/2011	French	PDF
Abridged model	31/12/2009	15/06/2010	06/08/2010	French	PDF
Abridged model	31/12/2008	15/06/2009	31/07/2009	French	PDF
Abridged model	31/12/2007	16/06/2008	14/07/2008	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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

3 active · 12 ended

Active mandates

Alan LACAN

Director · since 01 mars 2026 · until 30 avril 2032

Active

Sandrine Rambaud

Director · since 26 septembre 2023 · until 30 avril 2029

Active

Flex Composite Group

Chairman of the board of directors · since 27 juin 2022 · until 30 avril 2028

Represented by CAPRIGLIONE EMMANUEL

Active

Ended mandates

Antoine Lecomte

Director · since 04 mars 2024 · until 30 avril 2030

Ended

IDI

Director · since 27 juin 2022 · until 30 avril 2028 · 0664.947.866

Represented by BENTZ JULIEN

Ended

Flex Composite Group

Chairman of the board of directors · since 04 novembre 2016 · until 15 juin 2022

Represented by CAPRIGLIONE EMMANUEL

Ended

IDI

Director · since 04 novembre 2016 · until 15 juin 2022 · 0664.947.866

Represented by BENTZ JULIEN

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates12/03/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates02/04/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates24/11/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates13/11/2023
DEMISSIONS, NOMINATIONS
PDF
Capital / shares09/10/2023
CAPITAL, ACTIONS
PDF
Mandates05/07/2022
DEMISSIONS, NOMINATIONS
PDF
Other22/04/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - ASSEMBLEE GENERALE
PDF
Mandates12/11/2020
DEMISSIONS, NOMINATIONS
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 202514,7 M €↑
2024
Annual accounts 202413,9 M €↑
2023
Annual accounts 202313,5 M €↓
2022
Annual accounts 202214,9 M €↑
2021
Annual accounts 202112,9 M €↑
2014
Annual accounts 20146,3 M €↑
2013
Annual accounts 20134,8 M €↑
2012
Annual accounts 20123,1 M €↑
2011
Annual accounts 20111,8 M €↑
2010
Annual accounts 2010875 k €↑
2009
Annual accounts 2009561,9 k €↑
2008
Annual accounts 2008112,8 k €↑
2007
Annual accounts 2007-480,1 k €
18/12/2006
IncorporationPublic limited company

PENNEL & FLIPO

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