Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2025 and 2025.
Financials
Financial year 2025
DS Smith Packaging Belgium from Gent, company number BE0436442095, closed financial year 2025 with a result of € -7 million after tax. For that financial year DS Smith Packaging Belgium recorded revenue of € 76.5 million and equity of € 40.5 million. Compared with financial year 2025, the result moved from € -6.1 million to € -7 million. The company made a loss. 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 September 29, 2026.
€ 40.5 million
▲ 79% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -7 million
▼ 15 % more loss than in 2025
Profit after tax over the fiscal year.
€ 854,613
▼ 42% vs 2025
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -35.9 million.
People and assets in 2025
369.8
▼ 18.4 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 22 million
▼ 28% vs 2025
€ 59,600 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.
€ 2 million
▲ 3% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 12.2 million
▼ 28% vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 76 days on average.
€ 6.6 million
▲ 20% vs 2025
Taxes, VAT and social contributions still to pay.
| 2022 | 2024 | 2025 | 2025 | Change 2025 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 127,383,973 | € 122,094,616 | € 116,277,877 | € 76,523,194 | ▼ 34% |
| Profit after taxes | € -5,635,458 | € 2,786,881 | € -6,128,029 | € -7,048,917 | ▼ € 920,888 |
| Equity | € 9,251,541 | € 28,711,665 | € 22,583,636 | € 40,534,719 | ▲ 79% |
| Total debts | € 57,443,999 | € 34,898,610 | € 41,746,901 | € 41,126,771 | ▼ 1% |
| Cash | € 538,661 | € 1,834,071 | € 1,466,063 | € 854,613 | ▼ 42% |
| Land & buildings | € 2,233,299 | € 5,313,747 | € 5,397,840 | € 5,169,862 | ▼ 4% |
| Retained profit | € -23,648,459 | € -22,688,335 | € -28,816,364 | € -35,865,281 | ▼ € 7 million |
| Bank debt | € 10,000 | € 0 | € 0 | € 0 | |
| Balance sheet total | € 67,867,661 | € 64,799,409 | € 65,517,376 | € 82,848,329 | ▲ 26% |
| Employees (FTE) | 384.9 | 381.6 | 388.2 | 369.8 | ▼ 18.4 |
Key figures of DS Smith Packaging Belgium, 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 DS Smith Packaging Belgium?
What happened at DS Smith Packaging Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Koen Verhaeghe stepped down as director. NBB
- Jean-Marc Servais stepped down as director. NBB
- Ariane Goffin stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 6.1 million (▼ € 8.9 million vs 2024). filed late Source: NBB ↗
- Koen Verhaeghe became a director. NBB
- Ariane Goffin became a director. NBB
- Jean-Marc Servais became a director. NBB
- New establishment in Harelbeke. KBO
In short
From € 5.6 million loss in 2022 to € 7 million loss in 2025.
Paid € 519,451 in corporate taxes since 2022.
Best year ever: 2024, with € 2.8 million profit.
Pays suppliers within 76 days on average.
Management
Directors
According to the 2025 annual accounts
Koen Verhaeghe
Managing director
since 2026 · until 2031
Jean-Marc Servais
Director
since 2025 · until 2031
Ariane Goffin
Director
since 2025 · until 2031
Establishments
Establishment units
Physical locations of this company
New-Orleansstraat 100
9000 Gent
Beukenstraat 115
9255 Buggenhout
Active since 1 July 1989
Vaarnewijkstraat 3 - 5
8530 Harelbeke
Active since 1 March 2009
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0436.442.095
- VAT number
- BE 0436.442.095
- Registered office
- New-Orleansstraat 100, 9000 Gent
- Names & denominations
- DS Smith Packaging Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 29 December 1988
- Peppol
- Active · Active since 2 Jan 2026
- Activities · NACE
Vervaardiging van gegolfd papier, golfkarton en verpakkingsmateriaal van papier en karton
Vervaardiging van gegolfd papier en golfkarton en van verpakkingsmateriaal van papier en karton