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 50.5 to 44.9.
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Busy address KBO
12 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
CETRACO from Antwerpen, company number BE0416594016, closed financial year 2025 with a result of € -136,044 after tax. For that financial year CETRACO recorded revenue of € 8.2 million and equity of € 10.3 million. Compared with financial year 2024, the result moved from € 479,754 to € -136,044. 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 August 3, 2026.
€ 10.3 million
▼ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -136,044
▼ still € 479,754 profit in 2024
Profit after tax over the fiscal year.
€ 6,345
▲ 130% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 2.5 million.
People and assets in 2025
44.9
▼ 3.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 3.8 million
▼ 3% vs 2024
€ 85,400 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.
€ 412,557
▼ 9% vs 2024
Of which on lease € 65,271.
Debts at end 2025
€ 86,103
▼ 13% vs 2024
€ 14,062 is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 1.9 million
▲ 156% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 158 days on average.
€ 427,943
▼ 10% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 6,995,002 | € 7,515,042 | € 7,721,087 | € 8,194,076 | ▲ 6% |
| Profit after taxes | € -316,788 | € 4,340,649 | € 479,754 | € -136,044 | ▼ € 615,798 |
| Equity | € 13,151,659 | € 10,000,000 | € 10,479,754 | € 10,343,710 | ▼ 1% |
| Total debts | € 10,084,166 | € 9,452,163 | € 1,319,696 | € 2,412,995 | ▲ 83% |
| Cash | € 3,548 | € 9,878 | € 2,754 | € 6,345 | ▲ 130% |
| Retained profit | € 5,272,659 | € 2,121,000 | € 2,600,754 | € 2,464,710 | ▼ 5% |
| Dividend | € 9,000,000 | € 7,492,308 | € 0 | € 0 | |
| Bank debt | € 124,156 | € 112,086 | € 99,398 | € 86,103 | ▼ 13% |
| Balance sheet total | € 23,235,824 | € 19,452,163 | € 11,799,450 | € 12,756,705 | ▲ 8% |
| Employees (FTE) | 53.9 | 50.5 | 48.7 | 44.9 | ▼ 3.8 |
Key figures of CETRACO, 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 CETRACO?
What happened at CETRACO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 136,044 (▼ € 615,798 vs 2024). filed late Source: NBB ↗
- NJ COMPANY stepped down as director. NBB
- Herfurth Shipbrokers stepped down as director. NBB
- NJ COMPANY became a director. NBB
- Herfurth Shipbrokers became a director. NBB
- New establishment in Antwerpen. KBO
- Start of the company according to the CBE. KBO
In short
From € 316,788 loss in 2022 to € 136,044 loss in 2025.
Paid € 11,024 in corporate taxes since 2022.
Best year ever: 2023, with € 4.3 million profit.
Paid out € 16.5 million in dividends to the owners in total.
A new publication or filing at CETRACO? We notify you, reason included.
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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 stake of HERFURTH & CO, Scandinavian Stevedoring Company comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
CETRACOThe shares are held by HERFURTH & CO (100%) and Scandinavian Stevedoring Company. It owns 100% of HERFURTH BV, 100% of JOHN P. BEST & C°, 99.9% of GANDATRADE, 99.8% of BEST & OSTERRIETH, 99.8% of HERFURTH SHIPPING Sarl and 99.8% of HERFURTH MARITIME itself.
Directors
According to the 2025 annual accounts
Managing director · represented by Olivier D'HOOP
Also active at: Macotruck, Scandinavian Stevedoring Company, HANDICO TRUCKING
since 2020 · until 2026
Managing director · represented by Vincent MALDAGUE
since 2020 · until 2026
Shareholders
Participations
HERFURTH BV
100%
100%
99.9%
99.8%
HERFURTH SHIPPING Sarl
99.8%
99.8%
99.5%
49%
Establishments
Establishment units
Physical locations of this company
D'Herbouvillekaai 42
2020 Antwerpen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 12 companies are registered at this address.
All companies at this address →BEST & OSTERRIETH same network
€ 861 gross margin · 2025
JOHN P. BEST & Co same network
€ -50,960 gross margin · 2025
MARINZEE
€ 74,988 gross margin · 2025
Scandinavian Stevedoring Company same network
€ 131,179 revenue · 2025
GANDATRADE same network
€ 40,912 gross margin · 2025
+7 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0416.594.016
- VAT number
- BE 0416.594.016
- Registered office
- D'Herbouvillekaai 42, 2020 Antwerpen
- Names & denominations
- CETRACO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 June 1976
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Logistieke diensten
Expeditiekantoren
Administratieve en ondersteunende activiteiten ten behoeve van kantoren
Overige activiteiten i .v.m. administratie, n.e.g.
Overige vervoerondersteunende activiteiten
Diverse administratieve activiteiten ten behoeve van kantoren