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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Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Busy address KBO
22 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
H.D. COTTERELL from Antwerpen, company number BE0437995481, closed financial year 2025 with a result of € -87,589 after tax. For that financial year H.D. COTTERELL recorded a gross margin of € 2.2 million and equity of € -93,764. Compared with financial year 2024, the result moved from € -50,515 to € -87,589. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 13, 2026.
€ -93,764
▼ € 87,589 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -87,589
▼ 73 % more loss than in 2024
Profit after tax over the fiscal year.
Loss, nothing to pay out
Reserves fell to € -195,764.
People and assets in 2025
31.3
▲ 1.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2.3 million
▲ 8% vs 2024
€ 72,100 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.
€ 88,013
▼ 10% 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.
€ 15,543
▼ 83% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 348,317
▲ 36% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,957,411 | € 2,199,680 | € 2,119,055 | € 2,241,932 | ▲ 6% |
| Profit after taxes | € -8,212 | € 34,139 | € -50,515 | € -87,589 | ▼ € 37,075 |
| Equity | € 34,701 | € 44,340 | € -6,175 | € -93,764 | ▼ € 87,589 |
| Total debts | € 605,449 | € 824,781 | € 641,163 | € 881,239 | ▲ 37% |
| Land & buildings | € 92,960 | € 92,960 | € 92,960 | € 92,960 | |
| Retained profit | € -67,299 | € -57,660 | € -108,175 | € -195,764 | ▼ € 87,589 |
| Balance sheet total | € 640,150 | € 869,121 | € 634,989 | € 787,475 | ▲ 24% |
| Employees (FTE) | 31.3 | 31.9 | 29.8 | 31.3 | ▲ 1.5 |
Key figures of H.D. COTTERELL, 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 H.D. COTTERELL?
What happened at H.D. COTTERELL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Dirk MICHIELSENS stepped down as director. NBB
- MT&C stepped down as director. NBB
- AE&S BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 87,589. Source: NBB ↗
- MT&C became a director. NBB
- AE&S BV became a director. NBB
- Dirk MICHIELSENS became a director. NBB
- New establishment in Antwerpen. KBO
In short
From € 8,212 loss in 2022 to € 87,589 loss in 2025.
Paid € 25,605 in corporate taxes since 2022.
Best year ever: 2023, with € 34,139 profit.
On average € 71,600 of value added per employee in 2025.
Management
The shares are held by Katoen Natie International S.A. (100%). It owns 1.3% of KTD SA itself.
Directors
According to the 2025 annual accounts
Dirk MICHIELSENS
Director
Also active at: Katoen Natie, Riga Natie, Werf en Vlasnatie, EDWARD T. ROBERTSON (BELGIUM), Delta Container Services, KATOEN NATIE BULK TERMINALS, AUTOMOTIVE TRANSPORT AND SUPPLY CENTER, SABEEN +7 more
since 2019 · until 2031
Director · represented by Christophe Vandierendonck
Also active at: TEVECO, VALKENIERSNATIE STORAGE, COTTERELL COMMODITIES INTERNATIONAL, KATOEN NATIE FOOD LOGISTICS, VALUE FOODS, KATOEN NATIE FOOD SOLUTIONS, CROSSPORT, BeNeduw Natie +2 more
since 2024 · until 2031
Director · represented by Steven Van Daele
Also active at: TEVECO, VALKENIERSNATIE STORAGE, RIGA TERMINALS, TRANSCOLLI, Valkeniersnatie, EDWARD T. ROBERTSON (BELGIUM), Katoen Natie Haventransport, COTTERELL COMMODITIES INTERNATIONAL +8 more
since 2022 · until 2031
Shareholders
Katoen Natie International S.A.
100%
Participations
KTD SA
1.3%
Establishments
Establishment units
Physical locations of this company
Luithagen-Haven 9
2030 Antwerpen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 22 companies are registered at this address.
All companies at this address →TEVECO same network
€ 1.5 million revenue · 2025
Katoen Natie Trucking
€ 14.5 million revenue · 2025
VALKENIERSNATIE STORAGE same network
€ 56.7 million revenue · 2025
RIGA TERMINALS same network
€ 2.2 million gross margin · 2025
Mexico Natie
€ 12.7 million revenue · 2025
+17 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
- 0437.995.481
- VAT number
- BE 0437.995.481
- Registered office
- Luithagen-Haven 9, 2030 Antwerpen
- Names & denominations
- H.D. COTTERELL
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 18 July 1989
- Peppol
- Active · Active since 26 Dec 2025
- Activities · NACE
Logistieke diensten
Expeditiekantoren
Douaneagentschappen
Overige vervoerondersteunende activiteiten