Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 46 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Donaldson Europe from Leuven, company number BE0407184719, closed financial year 2025 with a result of € -103.1 million after tax. For that financial year Donaldson Europe recorded revenue of € 320.8 million and equity of € 744.9 million. Compared with financial year 2024, the result moved from € 84.3 million to € -103.1 million. The company made a loss. 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 January 21, 2026.
€ 744.9 million
▼ 19% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -103.1 million
▼ still € 84.3 million profit in 2024
Profit after tax over the fiscal year.
€ 27.9 million
▼ 14% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 91.9 million.
People and assets in 2025
503.3
▼ 5.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 59.2 million
▼ 3% vs 2024
€ 117,700 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.
€ 7.6 million
▼ 3% vs 2024
Of which on lease € 6.1 million.
Debts at end 2025
€ 243.8 million
▼ 10% vs 2024
€ 850,376 is repaid this year. At this pace the long-term loan is gone in ≈ 99 years.
€ 35.8 million
▼ 6% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 47 days on average.
€ 17.8 million
▼ 5% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 297,987,270 | € 323,671,578 | € 310,431,305 | € 320,792,425 | ▲ 3% |
| Profit after taxes | € 71,188,627 | € 80,829,604 | € 84,321,706 | € -103,096,386 | ▼ € 187.4 million |
| Equity | € 731,674,372 | € 913,636,766 | € 922,958,472 | € 744,862,086 | ▼ 19% |
| Total debts | € 324,415,266 | € 361,898,006 | € 360,315,442 | € 376,051,068 | ▲ 4% |
| Cash | € 22,141,233 | € 29,748,674 | € 32,528,032 | € 27,883,785 | ▼ 14% |
| Land & buildings | € 15,765,799 | € 15,314,463 | € 14,863,126 | € 14,411,789 | ▼ 3% |
| Retained profit | € 179,880,019 | € 260,709,624 | € 270,031,330 | € 91,934,943 | ▼ 66% |
| Dividend | € 70,000,000 | € 0 | € 75,000,000 | € 75,000,000 | |
| Bank debt | € 232,594,788 | € 311,196,723 | € 270,040,192 | € 243,837,495 | ▼ 10% |
| Balance sheet total | € 1,056,492,900 | € 1,275,978,741 | € 1,283,879,825 | € 1,120,972,913 | ▼ 13% |
| Employees (FTE) | 485.8 | 491.2 | 508.6 | 503.3 | ▼ 5.3 |
Key figures of Donaldson Europe, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 3 March 2027.
What happened to Donaldson Europe?
What happened at Donaldson Europe in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 103.1 million (▼ € 187.4 million vs 2024). Source: NBB ↗
- Andrew Cebulla became a director. NBB
- Bradley POGALZ became a director. NBB
- Bart Driesen became a director. NBB
- New establishment in Brugge. KBO
- New establishment in Leuven. KBO
- Start of the company according to the CBE. KBO
In short
From € 71.2 million profit in 2022 to € 103.1 million loss in 2025.
Paid € 21 million in corporate taxes since 2022.
Best year ever: 2024, with € 84.3 million profit.
Paid out € 220 million 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
Behind Donaldson Europe are Andrew Cebulla, Bradley POGALZ and Bart Driesen. It owns 100% of DONALDSON FILTRATION ÖSTERREICH GMBH, 100% of DONALDSON SCANDINAVIA APS, 100% of DONALDSON TAIWAN INCORPORATED, 100% of DONALDSON FILTRE SISTEMLERI TIC.LTD.STI, 100% of DONALDSON INDUSTRIAL CR S.R.O. and 100% of DONALDSON IBERICA SOUCIONES EN FILTRACION S.L. (SOCIEDAD UNIPERSONAL) itself.
Directors
According to the 2025 annual accounts
since 2025
Bradley POGALZ
Director
since 2024
Bart Driesen
Director
since 2022
Establishments
Establishment units
Physical locations of this company
Interleuvenlaan 1
3001 Leuven
Pathoekeweg 166
8000 Brugge
Active since 25 April 1997
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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
- 0407.184.719
- VAT number
- BE 0407.184.719
- Registered office
- Interleuvenlaan 1, 3001 Leuven
- Names & denominations
- Donaldson Europe
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 1 July 1970
- Peppol
- Active · Active since 13 Oct 2025
- Activities · NACE
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