ACTIVE

CIWAN FOOD

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Financial year 2025 · closed on 31/12/2025
Net result
19,4 k €
-47.4% YoY
Gross margin
267,7 k €
+17.8% YoY
Equity
209,5 k €
+10.2% YoY
Workforce
4,4 ETP

What does CIWAN FOOD do?

CIWAN FOOD is a Private limited company incorporated in 2008. Its main activity is: Manufacture of bread; manufacture of fresh pastry goods and cakes. Its registered office is in La Louvière. It employs on average 4,4 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0899.733.101
Incorporation
11/08/2008
Legal form
Private limited company
Registered office
Rue Kéramis(L.L) 61
7100 La Louvière · WallonieSee on map
Contributed capital
18 600,00 €
Latest accounts
31/12/2025
Average workforce
4,4 ETP
Activities (NACE)
10712Manufacture of bread; manufacture of fresh pastry goods and cakes· main10712Manufacture of bread; manufacture of fresh pastry goods and cakes47110Retail sale in non-specialised stores with food, beverages or tobacco predominating47112Retail sale in non-specialised stores with food, beverages or tobacco predominating47110Retail sale in non-specialised stores with food, beverages or tobacco predominating47112Retail sale in non-specialised stores with food, beverages or tobacco predominating
Joint committees (2)
  • 119
  • 201
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
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✦ Verdict · Analyst summary
Financials

Trend over 15 financial years

202520242023202220212019201720162015201420132012201120102009
Income statement
Gross margin267,7 k €227,4 k €237,3 k €165,1 k €101,3 k €55,5 k €96,8 k €113,7 k €67,2 k €86,2 k €41,8 k €42,6 k €53,4 k €33,6 k €61,1 k €
EBITDA35,2 k €70,4 k €108,9 k €33,6 k €34,1 k €14 k €7,9 k €62,9 k €32 k €22,6 k €-6,9 k €6,8 k €27,6 k €-2,6 k €11 k €
Operating result28,9 k €52,3 k €89 k €9,1 k €14,3 k €12,2 k €1,4 k €44 k €13,3 k €6,6 k €-15 k €-3,7 k €20,7 k €-9,3 k €1,1 k €
Net result19,4 k €36,8 k €66,3 k €6,9 k €10,6 k €8,3 k €1,4 k €29 k €12,4 k €5,8 k €-15,1 k €-7,5 k €21 k €-9,9 k €957,6 €
Balance sheet
Equity209,5 k €190,1 k €153,3 k €87 k €80,1 k €57,6 k €56,7 k €55,2 k €26,2 k €13,8 k €8 k €23,1 k €24,4 k €3,5 k €13,4 k €
Total assets277,2 k €260,1 k €216 k €147,6 k €162,3 k €118,3 k €79,1 k €81 k €73,7 k €67,6 k €29,1 k €59,3 k €62,3 k €61 k €66,7 k €
Cash39,1 k €17,6 k €24,1 k €32,3 k €29,5 k €43,8 k €23,5 k €6,8 k €6,2 k €8,9 k €11,8 k €26,4 k €14,3 k €2 k €223,7 €
Debts67,7 k €70 k €40,8 k €60,5 k €82,2 k €60,7 k €22,5 k €25,8 k €47,5 k €53,8 k €21,1 k €36,2 k €37,9 k €57,6 k €53,3 k €
Other
Workforce4,4 ETP–––––––1,7 ETP1,7 ETP–1,4 ETP1,0 ETP1,4 ETP1,8 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Serkan YILMAZ

Mandate

Active

Ended mandates

Hikmet YILMAZ

Manager

Ended
Serkan YILMAZ

Manager

Ended
Yilmaz Hikmet

Mandate

Ended
Annual accounts

Full financial information

202520242023202220212019
Type of accountAbridged modelAbridged modelMicro modelMicro modelAbridged modelMicro model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2019
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2019
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date31/08/202629/08/202530/09/202430/09/202327/10/202226/10/2020
General meeting30/06/202630/06/202530/06/202430/06/202330/06/202230/06/2020
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

15 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202530/06/202631/08/2026FrenchPDF
Abridged model31/12/202430/06/202529/08/2025FrenchPDF
Micro model31/12/202330/06/202430/09/2024FrenchPDF
Micro model31/12/202230/06/202330/09/2023FrenchPDF
Abridged model31/12/202130/06/202227/10/2022FrenchPDF
Micro model31/12/201930/06/202026/10/2020FrenchPDF
Abridged model31/12/201720/07/201824/07/2018FrenchPDF
Abridged model31/12/201630/06/201803/07/2018FrenchPDF
Abridged model31/12/201530/06/201628/09/2016FrenchPDF
Abridged model31/12/201430/06/201526/08/2015FrenchPDF
Abridged model31/12/201302/06/201429/08/2014FrenchPDF
Abridged model31/12/201230/06/201330/08/2013FrenchPDF
Abridged model31/12/201121/06/201220/09/2012FrenchPDF
Abridged model31/12/201030/06/201131/08/2011FrenchPDF
Abridged model31/12/200930/06/201008/10/2010FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 · 1 active · 3 ended

Active mandates

Serkan YILMAZ

Mandate

Active

Ended mandates

Hikmet YILMAZ

Manager

Ended
Serkan YILMAZ

Manager

Ended
Yilmaz Hikmet

Mandate

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates21/11/2024
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - MODIFICATION FORME JURIDIQUE - OBJET - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates22/01/2018
    DEMISSIONS, NOMINATIONS
    PDF
  • Other13/08/2008
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    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

Timeline

  1. 2025
    Annual accounts 202519,4 k €↓
  2. 2024
    Annual accounts 202436,8 k €↓
  3. 2023
    Annual accounts 202366,3 k €↑
  4. 2022
    Annual accounts 20226,9 k €↓
  5. 2021
    Annual accounts 202110,6 k €↑
  6. 2019
    Annual accounts 20198,3 k €↑
  7. 2017
    Annual accounts 20171,4 k €↓
  8. 2016
    Annual accounts 201629 k €↑
  9. 2015
    Annual accounts 201512,4 k €↑
  10. 2014
    Annual accounts 20145,8 k €↑
  11. 2013
    Annual accounts 2013-15,1 k €↓
  12. 2012
    Annual accounts 2012-7,5 k €↓
  13. 2011
    Annual accounts 201121 k €↑
  14. 2010
    Annual accounts 2010-9,9 k €↓
  15. 2009
    Annual accounts 2009957,6 €
  16. 11/08/2008
    IncorporationPrivate limited company