Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 21 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Atlas Copco Airpower from Antwerpen, company number BE0403992231, closed financial year 2025 with a result of € 790.7 million after tax. For that financial year Atlas Copco Airpower recorded revenue of € 2.3 billion and equity of € 4 billion. Compared with financial year 2024, the result moved from € 1.6 billion to € 790.7 million. The company is profitable. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on May 20, 2026.
€ 4 billion
▼ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 790.7 million
▼ 49% vs 2024
Profit after tax over the fiscal year.
€ 1.8 million
▲ 159% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 920 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
3,520.5
▼ 22.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 362.7 million
▲ 2% vs 2024
€ 103,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 2 million
▼ 16% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 4.5 billion
▲ 12% vs 2024
€ 600 million is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 282 million
▼ 4% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 74 days on average.
€ 73.3 million
▼ 10% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 2,266,645,497 | € 2,570,517,816 | € 2,545,277,124 | € 2,311,829,898 | ▼ 9% |
| Profit after taxes | € 856,051,418 | € 755,153,847 | € 1,560,806,273 | € 790,747,901 | ▼ 49% |
| Equity | € 3,425,217,228 | € 4,180,371,075 | € 4,091,177,348 | € 3,961,925,249 | ▼ 3% |
| Total debts | € 5,890,100,954 | € 4,811,268,405 | € 5,183,651,213 | € 5,606,227,450 | ▲ 8% |
| Cash | € 2,172,362 | € 1,146,965 | € 693,636 | € 1,794,337 | ▲ 159% |
| Land & buildings | € 18,441,354 | € 29,907,067 | € 34,484,626 | € 58,221,908 | ▲ 69% |
| Retained profit | € 1,990,217,228 | € 2,745,371,075 | € 2,656,177,348 | € 2,526,925,249 | ▼ 5% |
| Dividend | € 346,000,000 | € 0 | € 1,650,000,000 | € 920,000,000 | ▼ 44% |
| Bank debt | € 5,531,482,238 | € 3,078,932,537 | € 4,006,184,793 | € 4,504,788,760 | ▲ 12% |
| Balance sheet total | € 9,408,845,555 | € 9,151,819,236 | € 9,425,035,976 | € 9,676,782,043 | ▲ 3% |
| Employees (FTE) | 3,253.2 | 3,483.1 | 3,543.2 | 3,520.5 | ▼ 22.7 |
Key figures of Atlas Copco Airpower, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Atlas Copco Airpower?
What happened at Atlas Copco Airpower in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Handan SAHIN KOCAS stepped down as director. NBB
- Philippe ERNENS stepped down as director. NBB
- Peter KINNART stepped down as director. NBB
- Wouter CEULEMANS stepped down as director. NBB
- Andrew WALKER stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 790.7 million (▼ 49% vs 2024). Source: NBB ↗
- Alex Jan Christiaan BONGAERTS stepped down as director. NBB
- Handan SAHIN KOCAS became a director. NBB
In short
From € 856.1 million profit in 2022 to € 790.7 million profit in 2025.
Paid € 381.1 million in corporate taxes since 2022.
Best year ever: 2024, with € 1.6 billion profit.
Paid out € 2.9 billion in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by Atlas Copco AB (100%). It owns 100% of Power Tools Distribution, 100% of International Compressor Distribution, 100% of EDMAC EUROPE, 100% of Atlas Copco UK Holdings Limited, 100% of Delta-Temp Group and 100% of Atlas Copco USA Holdings Inc itself.
Directors
According to the 2025 annual accounts
since 2021 · until 2026
Philippe ERNENS
Director
since 2024 · until 2027
since 2021 · until 2027
since 2021 · until 2027
Andrew WALKER
Director
since 2021 · until 2027
Handan SAHIN KOCAS
Director
Also active at: INTERNATIONAL COMPRESSOR DISTRIBUTION, ATLAS COPCO RENTAL EUROPE, ATLAS COPCO FINANCE BELGIUM
since 2026 · until 2032
Shareholders
Atlas Copco AB
100%
Participations
100%
100%
Atlas Copco USA Holdings Inc
100%
Leybold GmbH
100%
RENO A/S
100%
100%
100%
Establishments
Establishment units
Physical locations of this company
Boomsesteenweg 957
2610 Antwerpen
Ingberthoeveweg 7
2630 Aartselaar
Active since 1 October 2011
Terbekehofdreef 14
2610 Antwerpen
Active since 1 May 2019
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0403.992.231
- VAT number
- BE 0403.992.231
- Registered office
- Boomsesteenweg 957, 2610 Antwerpen
- Names & denominations
- Atlas Copco Airpower
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 21 June 1937
- Peppol
- Active · Active since 27 Feb 2026
- Activities · NACE
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