Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 45 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 1,609.9 to 1,420.4.
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Busy address KBO
10 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Agfa-Gevaert from Mortsel, company number BE0404021727, closed financial year 2025 with a result of € -58 million after tax. For that financial year Agfa-Gevaert recorded revenue of € 423.3 million and equity of € 67.9 million. Compared with financial year 2024, the result moved from € -55.5 million to € -58 million. The company made a loss. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 6, 2026.
€ 67.9 million
▼ 43% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -58 million
▼ 5 % more loss than in 2024
Profit after tax over the fiscal year.
€ 33.1 million
▲ € 30.5 million vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -133.7 million.
People and assets in 2025
1,420.4
▼ 157.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 182.1 million
▼ 1% vs 2024
€ 128,200 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.
€ 231,411
▼ 22% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 669.1 million
▼ 17% vs 2024
Loans from banks and other lenders, long and short.
€ 51 million
▼ 21% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 55 days on average.
€ 41.5 million
▲ 7% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 415,622,107 | € 455,745,334 | € 442,406,800 | € 423,312,507 | ▼ 4% |
| Profit after taxes | € -6,045,694 | € -10,850,376 | € -55,478,807 | € -58,046,988 | ▼ € 2.6 million |
| Equity | € 178,523,402 | € 173,544,372 | € 119,265,973 | € 67,888,475 | ▼ 43% |
| Total debts | € 1,315,724,200 | € 1,204,145,090 | € 1,045,866,642 | € 1,138,110,613 | ▲ 9% |
| Cash | € 13,125,765 | € 4,688,493 | € 2,579,287 | € 33,055,651 | ▲ € 30.5 million |
| Land & buildings | € 3,255,609 | € 3,092,638 | € 2,966,824 | € 2,702,256 | ▼ 9% |
| Retained profit | € -219,044,041 | € -229,894,417 | € -285,373,224 | € -133,666,630 | ▲ € 151.7 million |
| Bank debt | € 715,623,207 | € 960,029,199 | € 804,899,123 | € 669,083,114 | ▼ 17% |
| Balance sheet total | € 1,515,240,669 | € 1,390,728,173 | € 1,216,299,474 | € 1,272,008,687 | ▲ 5% |
| Employees (FTE) | 1,670.3 | 1,609.9 | 1,578.2 | 1,420.4 | ▼ 157.8 |
Key figures of Agfa-Gevaert, 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 Agfa-Gevaert?
What happened at Agfa-Gevaert in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- MJP MANAGEMENT SERVICES BV stepped down as director. NBB
- PJY MANAGEMENT BV stepped down as director. NBB
- HF ROUTH CONSULTING LLC stepped down as director. NBB
- VANTAGE CONSULTING BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 58 million. Source: NBB ↗
- ALBERT HOUSE BV stepped down as director. NBB
- MRP CONSUTLING BV stepped down as director. NBB
- PAUL OWSIANOWSKI stepped down as director. NBB
In short
From € 6 million loss in 2022 to € 58 million loss in 2025.
Paid € 1.2 million in corporate taxes since 2022.
Pays suppliers within 55 days on average.
Management
The shares are held by Free Float (65.2%), Active Ownership Capital S.à.r.l. (19.1%), Axxion S.A. (5%), LLB Fund Services AG (4.6%), Boldhaven Management LLP (3.2%) and Norges Bank (3%). It owns 100% of AGFA HONG KONG LTD, 100% of AGFA HEALTHCARE VIETNAM COMPANY LIMITED, 100% of AGFA AUSTRALIA PTY LTD, 100% of AGFA HEALTHCARE ITALY S.P.A., 100% of AGFA LLC and 100% of AGFA GMBH itself.
Directors
According to the 2025 annual accounts
Managing director · represented by PASCAL JUERY
Also active at: Agfa HealthCare, AGFA
since 2024 · until 2028
HF ROUTH CONSULTING LLC
Director · represented by HELEN ROUTH
since 2023 · until 2027
Director · represented by LINE DE DECKER
since 2022 · until 2026
MJP MANAGEMENT SERVICES BV
Director · represented by MICHEL GOVAERT
since 2025 · until 2029
Director · represented by FRANK ARANZANA
since 2023 · until 2027
since 2022 · until 2026
PAUL OWSIANOWSKI
Director
since 2025 · until 2026
Shareholders
Free Float
65.2%
Active Ownership Capital S.à.r.l.
19.1%
Axxion S.A.
5%
LLB Fund Services AG
4.6%
Boldhaven Management LLP
3.2%
Norges Bank
3%
Participations
AGFA HONG KONG LTD
100%
AGFA HEALTHCARE VIETNAM COMPANY LIMITED
100%
AGFA AUSTRALIA PTY LTD
100%
AGFA HEALTHCARE ITALY S.P.A.
100%
AGFA LLC
100%
AGFA GMBH
100%
AGFA MATERIALS JAPAN, LTD.
100%
AGFA MATERIALS TAIWAN CO., LTD.
100%
AGFA MATERIALS KOREA LIMITED
100%
AGFA CANADA INC
100%
AGFA LTD
100%
AGFA GEVAERT MAEBE
100%
AGFA SOUTH AFRICA (PTY) LTD
100%
AGFA RE SA
100%
100%
100%
100%
AGFA GEVAERT LIMITIDA
100%
AGFA GEVAERT COLOMBIA SAS
100%
AGFA GEVAERT GMBH
99.9%
AGFA (WUXI) IMAGING CO., LTD.
99.2%
AGFA GEVAERT ARGENTINA SA
93.3%
AGFA HEALTHCARE CORP.
92.6%
91.8%
AGFA HEALTHCARE INDIA PRIVATE LIMITED
37.8%
AGFA BRAZIL LTDA
33.7%
AGFA MIDDLE EAST FZCO
17.1%
PT GEVAERT-AGFA HEALTHCARE INDONESIA
0.4%
AGFA HEALTHCARE ARGENTINA SA
0%
AGFA HEALTHCARE CHILE LIMITADA
0%
AGFA HEALTHCARE COLOMBIA LTDA
0%
AGFA HEALTHCARE MEXICO
0%
AGFA CORPORATION
Establishments
Establishment units
Physical locations of this company
Septestraat 27
2640 Mortsel
Hendrik Kuijpersstraat 77
2640 Mortsel
Active since 1 July 1964
Septestraat 16
2640 Mortsel
Active since 1 July 1964
Terbekehofdreef 19
2610 Antwerpen
Active since 1 July 1964
August Cannaertsstraat 125
2260 Westerlo
Active since 1 July 1964
Fort V-straat 37
2650 Edegem
Active since 1 July 1964
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 10 companies are registered at this address.
All companies at this address →Agfa HealthCare same network
€ 99.4 million revenue · 2025
Agfa - Gevaert Bedrijfsclubs
Luithagen same network
€ 4.9 million revenue · 2025
Pensioenfonds Agfa-Gevaert
AGFA FINANCE same network
+5 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
AGFA-AS, BE
Domain
Domain
agfa.com
Registered
1989-11-14
Registrar
Key-Systems GmbH
Expires
2026-11-13
Website info
Features
Security
Details
- Company number
- 0404.021.727
- VAT number
- BE 0404.021.727
- Registered office
- Septestraat 27, 2640 Mortsel
- Names & denominations
- Agfa-Gevaert
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 10 June 1964
- Peppol
- Active · Active since 20 Nov 2020
- Contact
- agfa.com [email protected]
- Activities · NACE
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