Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Figures corrected NBB
Corrected annual account filed for 2022.
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Busy address KBO
13 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
INDAVER from Beveren-Kruibeke-Zwijndrecht, company number BE0427973304, closed financial year 2025 with a result of € 11.7 million after tax. For that financial year INDAVER recorded revenue of € 330.6 million and equity of € 372.8 million. Compared with financial year 2024, the result moved from € 21.1 million to € 11.7 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 May 11, 2026.
€ 372.8 million
▲ 4% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 11.7 million
▼ 45% vs 2024
Profit after tax over the fiscal year.
€ 1.2 million
▲ 32% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 11 million paid out
94 % of the profit went to the shareholders, mostly to Indaver Holding NV (100 % of the shares). That is where the money ends up.
People and assets in 2025
579.7
▲ 19.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 67.6 million
▲ 10% vs 2024
€ 116,700 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.
€ 3.2 million
▼ 22% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 55 million
▼ 21% vs 2024
Loans from banks and other lenders, long and short.
€ 59.2 million
▲ 5% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 82 days on average.
€ 40.9 million
▲ 36% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 248,393,464 | € 292,074,917 | € 315,754,064 | € 330,592,734 | ▲ 5% |
| Profit after taxes | € 919,674 | € 16,657,657 | € 21,129,447 | € 11,690,585 | ▼ 45% |
| Equity | € 348,296,219 | € 350,953,876 | € 358,083,323 | € 372,773,908 | ▲ 4% |
| Total debts | € 326,415,934 | € 276,480,812 | € 277,864,074 | € 272,788,746 | ▼ 2% |
| Cash | € 118,591 | € 796,532 | € 902,486 | € 1,193,400 | ▲ 32% |
| Land & buildings | € 33,565,812 | € 32,565,495 | € 34,806,030 | € 45,950,454 | ▲ 32% |
| Retained profit | € 45,801,515 | € 48,459,172 | € 55,588,619 | € 56,279,204 | ▲ 1% |
| Dividend | € 0 | € 14,000,000 | € 14,000,000 | € 11,000,000 | ▼ 21% |
| Bank debt | € 150,000,000 | € 50,000,000 | € 70,000,000 | € 55,000,000 | ▼ 21% |
| Balance sheet total | € 733,898,522 | € 687,672,847 | € 723,250,835 | € 751,043,690 | ▲ 4% |
| Employees (FTE) | 479.5 | 521.8 | 560.4 | 579.7 | ▲ 19.3 |
Key figures of INDAVER, 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 INDAVER?
What happened at INDAVER in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Paul De Bruycker stepped down as director. NBB
- Gavilán Consulting BV stepped down as director. NBB
- Tsudonku Ventures BV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 11.7 million (▼ 45% vs 2024). Source: NBB ↗
- Tsudonku Ventures BV became a director. NBB
- New establishment in Beveren-Kruibeke-Zwijndrecht. KBO
- Paul De Bruycker became a director. NBB
- Gavilán Consulting BV became a director. NBB
In short
From € 919,674 profit in 2022 to € 11.7 million profit in 2025.
Paid € 24.6 million in corporate taxes since 2022.
Best year ever: 2024, with € 21.1 million profit.
Paid out € 39 million in dividends to the owners in total.
Management
The shares are held by Indaver Holding NV (100%). It owns 100% of INDAVER MUNICIPAL SERVICES, 100% of INDAVER LOGISTICS, 100% of Indaver Plastics Recycling, 70% of Warmtenetwerk Antwerpen Noord, 50% of SLECO-CENTRALE and 50% of E-Wood Energiecentrale itself.
Directors
According to the 2025 annual accounts
Paul De Bruycker
Chairman of the board
since 2024 · until 2030
Director · represented by Karl Huts
Also active at: KATOEN NATIE TERMINALS, SEAPORT TERMINALS, DRANCO, Indaver Plastics2Chemicals, Indaver Energy
since 2024 · until 2030
Director · represented by Hilde Vangilbergen
Also active at: Indaver Separation Technologies, CORDEEL GROUP, Indaver Plastics Recycling, Indaver Plastics2Chemicals, Indaver Kosovo, Indaver Energy
since 2024 · until 2030
Shareholders
100%
Participations
100%
50%
50%
50%
50%
50%
27.5%
Establishments
Establishment units
Physical locations of this company
Ketenislaan(KAL) 1
9130 Beveren-Kruibeke-Zwijndrecht
Poldervlietweg 5
2030 Antwerpen
Active since 16 January 1987
Molenweg(KAL) 1940
9130 Beveren
Active since 1 May 1986
Molenweg(KAL) 3
9130 Beveren-Kruibeke-Zwijndrecht
Active since 1 May 1986
Dijle 17a
2800 Mechelen
Active since 1 May 1986
Westvaartdijk 111
1850 Grimbergen
Active since 1 May 1986
Noorderlaan 76
8790 Waregem
Active since 1 May 1986
Molenweg(KAL) 5
9130 Beveren
Active since 1 September 2019
Moerstraat 99
2030 Antwerpen
Active since 21 December 2017
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 13 companies are registered at this address.
All companies at this address →Van Ameyde Marine (Belgium)
€ 2.1 million gross margin · 2025
Logistics General Contracting and Engineering
€ 3.7 million revenue · 2025
Katoen Natie Koersel
€ 395,103 gross margin · 2025
KATOEN NATIE GRINDING & COMPOUNDING SERVICES
€ 2.2 million gross margin · 2025
KATOEN NATIE TANK OPERATIONS
€ 28.3 million revenue · 2025
+8 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
- 0427.973.304
- VAT number
- BE 0427.973.304
- Registered office
- Ketenislaan(KAL) 1, 9130 Beveren-Kruibeke-Zwijndrecht
- Names & denominations
- INDAVER
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 October 1985
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
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