ACTIVE

BELGAPACK

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Financial year 2025 · closed on 31/12/2025

Net result

669,9 k €

+36.0% YoY

Gross margin

2,3 M €

+7.7% YoY

Equity

3,3 M €

+18.6% YoY

Workforce

23,2 ETP

-5.3% YoY

What does BELGAPACK do?

BELGAPACK is a Public limited company incorporated in 2007. Its main activity is: Sawmilling and planing of wood. Its registered office is in Oudenaarde. It employs on average 23,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0889.412.992

Incorporation

14/05/2007

Legal form

Public limited company

Registered office

Kortrijkstraat 305
9700 Oudenaarde · FlandreSee on map

Contributed capital

100 000,00 €

Latest accounts

31/12/2025

Average workforce

23,2 ETP

Activities (NACE)

16100Sawmilling and planing of wood· main 16110Sawmilling and planing of wood 20101Manufacture of basic chemicals, fertilisers and nitrogen compounds, plastics and synthetic rubber in primary forms

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	2,3 M €	+7.7%	2,1 M €	-18.2%	2,6 M €	-12.5%	3,0 M €	+48.8%	2,0 M €	+36.8%	1,5 M €	+4.5%	1,4 M €	+16.1%	1,2 M €	-4.8%	1,3 M €	+14.5%	1,1 M €	+11.8%	996,2 k €	+3.4%	963,5 k €	+29.4%	744,4 k €	+20.9%	615,7 k €	+7.8%	571,3 k €	+20.9%	472,4 k €	+24.2%	380,3 k €	-49.3%	750,6 k €
EBITDA	1,1 M €	+23.5%	882,7 k €	-33.3%	1,3 M €	-25.7%	1,8 M €	+61.8%	1,1 M €	+77.5%	620,1 k €	+14.1%	543,5 k €	+68.9%	321,8 k €	-4.2%	335,8 k €	+6.7%	314,8 k €	+6.0%	296,9 k €	-4.6%	311,1 k €	+35.0%	230,5 k €	-7.6%	249,4 k €	-3.3%	258,0 k €	+35.6%	190,2 k €	+11.0%	171,4 k €	-58.6%	413,9 k €
Operating result	898,2 k €	+28.2%	700,4 k €	-39.2%	1,2 M €	-29.9%	1,6 M €	+76.7%	930,2 k €	+114%	435,2 k €	+20.0%	362,7 k €	+212%	116,3 k €	-4.2%	121,4 k €	-7.4%	131,1 k €	-4.6%	137,4 k €	-21.6%	175,2 k €	+70.6%	102,7 k €	-18.3%	125,8 k €	+42.5%	88,3 k €	+18.1%	74,8 k €	-8.0%	81,3 k €	-70.7%	277,2 k €
Net result	669,9 k €	+36.0%	492,4 k €	-42.1%	851,1 k €	-30.7%	1,2 M €	+76.2%	697,5 k €	+123%	312,9 k €	+27.8%	244,8 k €	+289%	62,9 k €	-37.0%	99,9 k €	+65.3%	60,5 k €	+15.2%	52,5 k €	+1.4%	51,8 k €	+2883%	1,7 k €	-93.3%	25,7 k €	+2267%	1,1 k €	-96.8%	34,2 k €	-10.3%	38,1 k €	-74.1%	147,0 k €
Balance sheet
Equity	3,3 M €	+18.6%	2,8 M €	+9.5%	2,6 M €	+27.5%	2,0 M €	+57.1%	1,3 M €	+54.0%	828,1 k €	+8.2%	765,2 k €	+47.0%	520,4 k €	+7.9%	482,5 k €	+26.1%	382,5 k €	+18.8%	322,1 k €	+19.5%	269,6 k €	+23.8%	217,8 k €	+0.8%	216,1 k €	-10.1%	240,4 k €	+0.5%	239,3 k €	+4.0%	230,1 k €	+3.6%	222,0 k €
Total assets	4,8 M €	+11.9%	4,3 M €	+6.8%	4,1 M €	+6.3%	3,8 M €	+26.3%	3,0 M €	+27.1%	2,4 M €	-2.3%	2,4 M €	-2.4%	2,5 M €	-3.6%	2,6 M €	-3.1%	2,7 M €	-0.2%	2,7 M €	+4.7%	2,6 M €	-21.3%	3,2 M €	+11.9%	2,9 M €	-2.4%	3,0 M €	+120%	1,3 M €	+23.4%	1,1 M €	-5.2%	1,2 M €
Cash	966,3 k €	+91.0%	505,9 k €	+42.8%	354,2 k €	+17.1%	302,6 k €	+825%	32,7 k €	-62.7%	87,8 k €	+299%	22,0 k €	-32.6%	32,6 k €	+203%	10,8 k €	-19.5%	13,4 k €	-48.4%	26,0 k €	-4.9%	27,3 k €	-65.6%	79,5 k €	-27.3%	109,4 k €	+15.7%	94,5 k €	+284%	24,6 k €	-65.5%	71,2 k €	+147%	28,8 k €
Debts	1,5 M €	-0.8%	1,5 M €	+1.8%	1,5 M €	-17.3%	1,8 M €	+5.1%	1,7 M €	+12.0%	1,5 M €	-7.6%	1,7 M €	-15.0%	2,0 M €	-6.3%	2,1 M €	-8.4%	2,3 M €	-2.2%	2,3 M €	+3.6%	2,2 M €	-24.9%	3,0 M €	+12.8%	2,7 M €	-1.8%	2,7 M €	+151%	1,1 M €	+27.2%	847,6 k €	-8.1%	922,1 k €
Other
Workforce	23,2 ETP	-5.3%	24,5 ETP	-9.3%	27,0 ETP	-1.5%	27,4 ETP	+26.3%	21,7 ETP	+10.7%	19,6 ETP	+1.0%	19,4 ETP	-5.4%	20,5 ETP	-10.5%	22,9 ETP	+16.2%	19,7 ETP	+16.6%	16,9 ETP	+14.2%	14,8 ETP	+24.4%	11,9 ETP	+40.0%	8,5 ETP	0.0%	8,5 ETP	+16.4%	7,3 ETP	+21.7%	6,0 ETP	0.0%	6,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 18 ended

Active mandates

De Spiegeleer Management

Managing director · 0885.846.560

Represented by Koen De Spiegeleer

Active

KELLY THIENPONT

Director

Active

Ended mandates

De Spiegeleer Management

Director · since 28 juin 2011 · 0885.846.560

Represented by KOEN DE SPIEGELEER

Ended

De Spiegeleer Management

Managing director · since 28 juin 2011 · 0885.846.560

Represented by KOEN DE SPIEGELEER

Ended

KELLY THIENPONT

Director · since 28 juin 2011

Ended

KOEN DE SPIEGELEER

Managing director · since 28 juin 2011

Ended

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	01/01/2025	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	15/06/2026	08/07/2025	01/07/2024	31/08/2023	28/06/2022	20/07/2021
General meeting	13/06/2026	14/06/2025	08/06/2024	31/07/2023	11/06/2022	26/06/2021
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

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	13/06/2026	15/06/2026	Dutch	PDF
Abridged model	31/12/2024	14/06/2025	08/07/2025	Dutch	PDF
Abridged model	31/12/2023	08/06/2024	01/07/2024	Dutch	PDF
Abridged model	31/12/2022	31/07/2023	31/08/2023	Dutch	PDF
Abridged model	31/12/2021	11/06/2022	28/06/2022	Dutch	PDF
Abridged model	31/12/2020	26/06/2021	20/07/2021	Dutch	PDF
Abridged model	31/12/2019	08/07/2020	22/07/2020	Dutch	PDF
Abridged model	31/12/2018	27/07/2019	20/08/2019	Dutch	PDF
Abridged model	31/12/2017	28/07/2018	27/08/2018	Dutch	PDF
Abridged model	31/12/2016	10/06/2017	06/07/2017	Dutch	PDF
Abridged model	31/12/2015	11/06/2016	05/07/2016	Dutch	PDF
Abridged model	31/12/2014	13/06/2015	06/07/2015	Dutch	PDF
Abridged model	31/12/2013	12/07/2014	17/07/2014	Dutch	PDF
Abridged model	31/12/2012	20/07/2013	13/08/2013	Dutch	PDF
Abridged model	31/12/2011	09/06/2012	06/07/2012	Dutch	PDF
Abridged model	31/12/2010	28/06/2011	20/07/2011	Dutch	PDF
Abridged model	31/12/2009	12/06/2010	23/06/2010	Dutch	PDF
Abridged model	31/12/2008	25/04/2009	06/05/2009	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 2 active · 18 ended

Active mandates

De Spiegeleer Management

Managing director · 0885.846.560

Represented by Koen De Spiegeleer

Active

KELLY THIENPONT

Director

Active

Ended mandates

De Spiegeleer Management

Director · since 28 juin 2011 · 0885.846.560

Represented by KOEN DE SPIEGELEER

Ended

De Spiegeleer Management

Managing director · since 28 juin 2011 · 0885.846.560

Represented by KOEN DE SPIEGELEER

Ended

KELLY THIENPONT

Director · since 28 juin 2011

Ended

KOEN DE SPIEGELEER

Managing director · since 28 juin 2011

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates02/10/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/07/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/09/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/08/2011
ONTSLAGEN - BENOEMINGEN
PDF
Registered office12/05/2011
MAATSCHAPPELIJKE ZETEL
PDF
Mandates29/08/2008
ONTSLAGEN - BENOEMINGEN
PDF
Other24/05/2007
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 2025669,9 k €↑
2024
Annual accounts 2024492,4 k €↓
2023
Annual accounts 2023851,1 k €↓
2022
Annual accounts 20221,2 M €↑
2021
Annual accounts 2021697,5 k €↑
2020
Annual accounts 2020312,9 k €↑
2019
Annual accounts 2019244,8 k €↑
2018
Annual accounts 201862,9 k €↓
2017
Annual accounts 201799,9 k €↑
2016
Annual accounts 201660,5 k €↑
2015
Annual accounts 201552,5 k €↑
2014
Annual accounts 201451,8 k €↑
2013
Annual accounts 20131,7 k €↓
2012
Annual accounts 201225,7 k €↑
2011
Annual accounts 20111,1 k €↓
2010
Annual accounts 201034,2 k €↓
2009
Annual accounts 200938,1 k €↓
2008
Annual accounts 2008147,0 k €
14/05/2007
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

BELGAPACK

Overview

What does BELGAPACK do?

Trend over 18 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