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 44.5 to 37.9.
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Busy address KBO
15 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
EUROPEAN COMBINED REEFERS from Antwerpen, company number BE0435873557, closed financial year 2025 with a result of € 1.1 million after tax. For that financial year EUROPEAN COMBINED REEFERS recorded revenue of € 14 million and equity of € 5.4 million. Compared with financial year 2024, the result moved from € 1.2 million to € 1.1 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 15, 2026.
€ 5.4 million
▲ 14% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.1 million
▼ 7% vs 2024
Profit after tax over the fiscal year.
€ 1.6 million
▲ 31% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 400,000 paid out
37 % of the profit went to the shareholders, mostly to Euro Trading Invest BV (50 % of the shares). That is where the money ends up.
People and assets in 2025
37.9
▼ 2.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2.6 million
▲ 2% vs 2024
€ 68,500 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.
€ 209,293
▲ 70% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 796,913
▼ 23% vs 2024
€ 234,089 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 1.6 million
▲ 43% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 57 days on average.
€ 383,747
▲ 10% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 12,406,428 | € 12,553,729 | € 13,332,576 | € 14,040,485 | ▲ 5% |
| Profit after taxes | € 1,077,592 | € 1,344,333 | € 1,163,519 | € 1,079,340 | ▼ 7% |
| Equity | € 2,816,736 | € 3,861,069 | € 4,724,589 | € 5,403,929 | ▲ 14% |
| Total debts | € 3,678,972 | € 3,859,100 | € 2,826,773 | € 3,201,135 | ▲ 13% |
| Cash | € 882,734 | € 1,275,882 | € 1,216,961 | € 1,596,412 | ▲ 31% |
| Land & buildings | € 2,156,880 | € 2,142,733 | € 1,931,467 | € 2,501,478 | ▲ 30% |
| Retained profit | € 2,367,157 | € 3,411,491 | € 4,275,010 | € 4,954,350 | ▲ 16% |
| Dividend | € 300,000 | € 300,000 | € 300,000 | € 400,000 | ▲ 33% |
| Bank debt | € 1,449,809 | € 1,256,610 | € 1,028,378 | € 796,913 | ▼ 23% |
| Balance sheet total | € 6,495,708 | € 7,720,169 | € 7,551,361 | € 8,605,063 | ▲ 14% |
| Employees (FTE) | 45.4 | 44.5 | 40.1 | 37.9 | ▼ 2.2 |
Key figures of EUROPEAN COMBINED REEFERS, 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 EUROPEAN COMBINED REEFERS?
What happened at EUROPEAN COMBINED REEFERS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 1.1 million (▼ 7% vs 2024). Source: NBB ↗
- Jemminvest BV became a director. NBB
- Mean Investments Comm V became a director. NBB
- New establishment in Antwerpen. KBO
- Thico Group NV became a director. NBB
- EURO TRADING INVEST NV became a director. NBB
- New establishment in Antwerpen. KBO
- Start of the company according to the CBE. KBO
In short
From € 1.1 million profit in 2022 to € 1.1 million profit in 2025.
Paid € 1.6 million in corporate taxes since 2022.
Best year ever: 2023, with € 1.3 million profit.
Paid out € 1.3 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 EUROPEAN COMBINED REEFERS are Jemminvest BV, Mean Investments Comm V, EURO TRADING INVEST NV and Thico Group NV. The shares are held by Euro Trading Invest BV (50%) and Thico Group NV (50%).
Directors
According to the 2025 annual accounts
Director · represented by Christophe Koevoets
Also active at: Intercontinental Container Transport Coordination, Thico Group
since 2022
since 2022
Director · represented by Garrit Meers
since 2011
Director · represented by Gilles van Strydonck
Also active at: Intercontinental Container Transport Coordination
since 2018
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Treurenborg 9
2030 Antwerpen
Treurenborg 7
2030 Antwerpen
Active since 12 December 1988
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 15 companies are registered at this address.
All companies at this address →Thornton same network
€ 1.4 million gross margin · 2025
Thico Group same network
€ 728,644 gross margin · 2025
MEGA INDUSTRIAL ENGINEERING
€ 14.1 million revenue · 2025
EURO TRADING INVEST same network
€ 166,697 gross margin · 2025
VINVEST IT
+10 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
- 0435.873.557
- VAT number
- BE 0435.873.557
- Registered office
- Treurenborg 9, 2030 Antwerpen
- Names & denominations
- EUROPEAN COMBINED REEFERS · EUCORE
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 29 November 1988
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Reparatie en onderhoud van machines
Reparatie en onderhoud van andere civiele transportmiddelen