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 169.8 to 151.
Financials
Financial year 2025
Smurfit Westrock Bornem from Bornem, company number BE0420070673, closed financial year 2025 with a result of € 533,567 after tax. For that financial year Smurfit Westrock Bornem recorded revenue of € 20.3 million and equity of € 27.4 million. Compared with financial year 2024, the result moved from € 687,245 to € 533,567. 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 26, 2026.
€ 27.4 million
▲ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 533,567
▼ 22% vs 2024
Profit after tax over the fiscal year.
€ 4.8 million
▲ 8% 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 € 27 million.
People and assets in 2025
151
▼ 12.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 10.2 million
▼ 25% vs 2024
€ 67,300 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.
€ 107,630
▲ 1% 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.
€ 3.7 million
▲ 105% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 126 days on average.
€ 1.8 million
▼ 9% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 21,836,024 | € 24,776,891 | € 27,309,914 | € 20,342,262 | ▼ 26% |
| Profit after taxes | € 1,124,414 | € 1,586,331 | € 687,245 | € 533,567 | ▼ 22% |
| Equity | € 24,543,019 | € 26,129,349 | € 26,816,594 | € 27,350,161 | ▲ 2% |
| Total debts | € 5,367,763 | € 5,482,067 | € 4,299,350 | € 5,554,804 | ▲ 29% |
| Cash | € 1,169,213 | € 3,025,887 | € 4,478,832 | € 4,831,669 | ▲ 8% |
| Land & buildings | € 177,678 | € 163,030 | € 176,843 | € 193,345 | ▲ 9% |
| Retained profit | € 24,233,019 | € 25,819,349 | € 26,506,594 | € 27,040,161 | ▲ 2% |
| Bank debt | € 215,765 | € 0 | € 0 | € 0 | |
| Balance sheet total | € 29,960,782 | € 31,611,417 | € 31,115,945 | € 32,918,936 | ▲ 6% |
| Employees (FTE) | 158.8 | 169.8 | 163.4 | 151 | ▼ 12.4 |
Key figures of Smurfit Westrock Bornem, 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 Smurfit Westrock Bornem?
What happened at Smurfit Westrock Bornem in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Martine Coquerelles stepped down as director. NBB
- Steven Blommaert stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 533,567 (▼ 22% vs 2024). Source: NBB ↗
- Martine Coquerelles became a director. NBB
- Steven Blommaert became a director. NBB
- New establishment in Bornem. KBO
- Start of the company according to the CBE. KBO
In short
From € 1.1 million profit in 2022 to € 533,567 profit in 2025.
Paid € 1.8 million in corporate taxes since 2022.
Best year ever: 2023, with € 1.6 million profit.
Pays suppliers within 126 days on average.
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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 shares are held by Smurfit Westrock Gent nv and Multi Packaging Solutions GB Ltd.
Directors
According to the 2025 annual accounts
Martine Coquerelles
Director
since 2025 · until 2031
Steven Blommaert
Director
since 2025 · until 2031
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rijksweg(BOR) 18
2880 Bornem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0420.070.673
- VAT number
- BE 0420.070.673
- Registered office
- Rijksweg(BOR) 18, 2880 Bornem
- Names & denominations
- Smurfit Westrock Bornem
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 23 January 1980
- Peppol
- Active · Active since 29 Jan 2026
- Activities · NACE
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