Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 788.5 to 620.7.
Financials
Financial year 2025
PICANOL from Ieper, company number BE0405502362, closed financial year 2025 with a result of € 17.2 million after tax. For that financial year PICANOL recorded revenue of € 300.9 million and equity of € 148.8 million. Compared with financial year 2024, the result moved from € 275 million to € 17.2 million. The company is profitable. 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 1, 2026.
€ 148.8 million
▲ 13% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 17.2 million
▼ 94% vs 2024
Profit after tax over the fiscal year.
€ 4.3 million
▼ 59% 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 € 102.9 million.
People and assets in 2025
620.7
▼ 47.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 44.7 million
▼ 4% vs 2024
€ 72,000 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.
€ 2.8 million
▲ 174% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 13.6 million
▲ € 13.5 million vs 2024
Loans from banks and other lenders, long and short.
€ 28.3 million
▼ 29% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 40 days on average.
€ 7.8 million
▼ 12% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 544,505,337 | € 399,667,189 | € 272,278,121 | € 300,902,593 | ▲ 11% |
| Profit after taxes | € 13,120,161 | € 56,931,874 | € 274,966,865 | € 17,219,173 | ▼ 94% |
| Equity | € 637,581,397 | € 654,513,271 | € 131,590,027 | € 148,809,200 | ▲ 13% |
| Total debts | € 147,245,746 | € 75,783,205 | € 67,894,299 | € 58,284,828 | ▼ 14% |
| Cash | € 19,409,565 | € 10,229,412 | € 10,603,982 | € 4,344,879 | ▼ 59% |
| Land & buildings | € 8,817,816 | € 9,398,927 | € 10,546,175 | € 50,377,981 | ▲ € 39.8 million |
| Retained profit | € 591,659,725 | € 608,591,599 | € 85,668,354 | € 102,887,528 | ▲ 20% |
| Dividend | € 0 | € 40,000,000 | € 797,890,110 | € 0 | ▼ 100% |
| Bank debt | € 2,174,917 | € 127,134 | € 40,706 | € 13,566,089 | ▲ € 13.5 million |
| Balance sheet total | € 789,401,926 | € 734,608,822 | € 203,314,589 | € 210,771,249 | ▲ 4% |
| Employees (FTE) | 811.4 | 788.5 | 668 | 620.7 | ▼ 47.3 |
Key figures of PICANOL, 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 PICANOL?
What happened at PICANOL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Johan Verstraete stepped down as director. NBB
- Catheriine Defoor stepped down as director. NBB
- Luc TACK stepped down as director. NBB
- Sandra Hoeylaerts stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 17.2 million (▼ 94% vs 2024). Source: NBB ↗
- Luc TACK became a director. NBB
- Johan Verstraete became a director. NBB
- Catheriine Defoor became a director. NBB
In short
From € 13.1 million profit in 2022 to € 17.2 million profit in 2025.
Paid € 8.3 million in corporate taxes since 2022.
Best year ever: 2024, with € 275 million profit.
Paid out € 837.9 million in dividends to the owners in total.
Management
The shares are held by Tessenderlo Group nv (100%). It owns 100% of Osterwalder AG, 100% of BURCKLE ET CIE S.A., 100% of PICANOL (SUZHOU) TRADING C0 LTD, 100% of Picanol of America Inc., 100% of Picanol (Suzhou Ind.Park) Textile Machinery Co Ltd and 100% of Picanol de Mexico S.A. de C.V. itself.
Directors
According to the 2025 annual accounts
since 2024 · until 2029
Catheriine Defoor
Director
since 2024 · until 2029
Luc TACK
Managing director
Also active at: Syndicaat van Belgische Textielmachinebouwers, JULES CLARYSSE, MELOTTE, TESSENDERLO CHEMIE INTERNATIONAL, Tessenderlo Group, Tack Water Services, BEGOOS, P.B. TERMINAL +24 more
since 2024 · until 2029
Sandra Hoeylaerts
Director
Also active at: TESSENDERLO CHEMIE INTERNATIONAL, Dyka Plastics, Psicontrol, PROFERRO, Hoeylaerts Mgmt
since 2024 · until 2029
Shareholders
100%
Participations
Osterwalder AG
100%
BURCKLE ET CIE S.A.
100%
PICANOL (SUZHOU) TRADING C0 LTD
100%
Picanol of America Inc.
100%
Picanol (Suzhou Ind.Park) Textile Machinery Co Ltd
100%
Picanol de Mexico S.A. de C.V.
100%
Picanol India Private ltd
100%
100%
PICANOL do BRASIL
100%
100%
99.9%
PICANOL TEKSTIL MAKINALARI TIC. LTD. STI.
99.8%
PT Picanol Indonesia
99%
Establishments
Establishment units
Physical locations of this company
Steverlyncklaan 15
8900 Ieper
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.
Website
Technologies
Hosting & Email
Email provider
Self-hosted
Hosting
COMBELL-AS, BE
Website info
Features
Security
Details
- Company number
- 0405.502.362
- VAT number
- BE 0405.502.362
- Registered office
- Steverlyncklaan 15, 8900 Ieper
- Names & denominations
- PICANOL
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 22 November 1928
- Peppol
- Active · Active since 11 Jun 2026
- Contact
- picanol.be
- Activities · NACE
Vervaardiging van machines voor de productie van textiel, kleding en leer