Financials
Financial year 2025
J. Cortès Cigars from Zwevegem, company number BE0405450102, closed financial year 2025 with a result of € 2.8 million after tax. For that financial year J. Cortès Cigars recorded revenue of € 88.1 million and equity of € 52.8 million. Compared with financial year 2024, the result moved from € 178,205 to € 2.8 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 9, 2026.
€ 52.8 million
▲ 20% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 2.8 million
▲ € 2.6 million vs 2024
Profit after tax over the fiscal year.
€ 370,900
▼ 63% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 46.6 million.
People and assets in 2025
125.8
▼ 3.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 8.9 million
€ 70,600 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.
€ 92,884
▲ 4% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 13.1 million
▼ 5% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 63 days on average.
€ 1.2 million
▲ 9% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 74,107,189 | € 80,536,371 | € 85,186,283 | € 88,116,524 | ▲ 3% |
| Profit after taxes | € 2,873,883 | € 437,754 | € 178,205 | € 2,827,096 | ▲ € 2.6 million |
| Equity | € 50,900,698 | € 51,338,452 | € 43,930,579 | € 52,801,146 | ▲ 20% |
| Total debts | € 40,542,784 | € 49,889,390 | € 47,211,803 | € 40,163,048 | ▼ 15% |
| Cash | € 626,682 | € 380,945 | € 1,014,601 | € 370,900 | ▼ 63% |
| Land & buildings | € 689,104 | € 777,306 | € 4,626 | € 353 | ▼ 92% |
| Retained profit | € 50,771,328 | € 51,209,082 | € 43,820,326 | € 46,647,422 | ▲ 6% |
| Bank debt | € 9,700,000 | € 4,000,000 | € 0 | € 0 | |
| Balance sheet total | € 91,609,053 | € 101,227,842 | € 91,142,382 | € 93,344,193 | ▲ 2% |
| Employees (FTE) | 127.8 | 132.5 | 129.7 | 125.8 | ▼ 3.9 |
Key figures of J. Cortès Cigars, 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 J. Cortès Cigars?
What happened at J. Cortès Cigars in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Guido Vandermarliere stepped down as director. NBB
- Eigen Kweek BV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 2.8 million (▲ € 2.6 million vs 2024). Source: NBB ↗
- New establishment in Zwevegem. KBO
- New establishment in Harelbeke. KBO
- Guido Vandermarliere became a director. NBB
- Eigen Kweek BV became a director. NBB
- New establishment in Kortemark. KBO
In short
From € 2.9 million profit in 2022 to € 2.8 million profit in 2025.
Paid € 3.4 million in corporate taxes since 2022.
Best year ever: 2022, with € 2.9 million profit.
Pays suppliers within 63 days on average.
Management
The stake of LE FUMOIR comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
J. Cortès CigarsThe shares are held by LE FUMOIR (100%). It owns 100% of Vandermarliere Cigars Family Italy SRL, 100% of VCF Deutschland GMBH, 100% of Vandermarliere Cigar Family España SL, 100% of Vandermarliere Cigar Family Nederland BV and 99% of Tabacalera Oliva de Esteli SA (Tabolisa) itself.
Directors
According to the 2025 annual accounts
Guido Vandermarliere
Director
Also active at: BISCUITERIE JULES DESTROOPER, DESTROOPER-OLIVIER, HORIZON V.D.M., Memoires, HUBISCO, YPERLEE TRANS, 10 INVEST, LE FUMOIR +3 more
since 2023 · until 2029
Managing director · represented by Frederik Vandermarliere
Owns 0% via LE FUMOIR
Also active at: HUBISCO, LE FUMOIR, Hedonis Ambachtsbier, IMMO L'EAU, GT & Co, IMMO TEWOWI
since 2023 · until 2029
Shareholders
LE FUMOIR · holding of Eigen Kweek BV
100%
Participations
Vandermarliere Cigars Family Italy SRL
100%
VCF Deutschland GMBH
100%
Vandermarliere Cigar Family España SL
100%
Vandermarliere Cigar Family Nederland BV
100%
Tabacalera Oliva de Esteli SA (Tabolisa)
99%
Establishments
Establishment units
Physical locations of this company
Pannenbakkersstraat(M) 1
8552 Zwevegem
Kronevoordestraat 33
8610 Kortemark
Active since 26 June 2018
Pannenbakkersstraat(M) 2
8552 Zwevegem
Active since 1 March 2026
Generaal Deprezstraat 16
8530 Harelbeke
Active since 1 January 2026
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 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
- 0405.450.102
- VAT number
- BE 0405.450.102
- Registered office
- Pannenbakkersstraat(M) 1, 8552 Zwevegem
- Names & denominations
- J. Cortès Cigars
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1968
- Peppol
- Active · Active since 11 Sept 2025
- Activities · NACE
Vervaardiging van tabaksproducten
Groothandel in tabaksproducten