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 451.5 to 383.9.
Financials
Financial year 2025
Cisco Systems Belgium from Machelen (Brab.), company number BE0447138227, closed financial year 2025 with a result of € 8.1 million after tax. For that financial year Cisco Systems Belgium recorded revenue of € 177.9 million and equity of € 9.3 million. Compared with financial year 2024, the result moved from € 8.1 million to € 8.1 million. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on February 10, 2026.
€ 9.3 million
▲ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 8.1 million
Profit after tax over the fiscal year.
€ 41,635
▲ 29% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 8 million paid out
99 % of the profit went to the shareholders, mostly to Cisco ISH B.V (100 % of the shares). That is where the money ends up.
People and assets in 2025
383.9
▼ 50.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 143.8 million
▲ 14% vs 2024
€ 374,600 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.
€ 24,206
▼ 18% 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.
€ 3.8 million
▲ 37% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 72 days on average.
€ 36.6 million
▲ 13% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 136,598,743 | € 158,932,700 | € 161,478,836 | € 177,875,455 | ▲ 10% |
| Profit after taxes | € 6,346,959 | € 7,958,884 | € 8,137,910 | € 8,115,602 | |
| Equity | € 17,047,086 | € 11,005,969 | € 9,143,879 | € 9,259,481 | ▲ 1% |
| Total debts | € 36,953,923 | € 56,610,614 | € 47,138,218 | € 57,102,784 | ▲ 21% |
| Cash | € 11,847 | € 21,670 | € 32,327 | € 41,635 | ▲ 29% |
| Retained profit | € 16,357,031 | € 10,315,914 | € 8,453,824 | € 8,569,426 | ▲ 1% |
| Dividend | € 0 | € 14,000,000 | € 10,000,000 | € 8,000,000 | ▼ 20% |
| Balance sheet total | € 54,001,008 | € 67,616,583 | € 56,282,097 | € 66,362,264 | ▲ 18% |
| Employees (FTE) | 471.4 | 451.5 | 434.3 | 383.9 | ▼ 50.4 |
Key figures of Cisco Systems 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 3 March 2027.
What happened to Cisco Systems Belgium?
What happened at Cisco Systems Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 8.1 million. Source: NBB ↗
- New establishment in Brussel. KBO
- Annick De Waele became a director. NBB
- New establishment in Kortrijk. KBO
- New establishment in Machelen (Brab.). KBO
- Start of the company according to the CBE. KBO
In short
From € 6.3 million profit in 2022 to € 8.1 million profit in 2025.
Paid € 14.1 million in corporate taxes since 2022.
Best year ever: 2024, with € 8.1 million profit.
Paid out € 32 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 Cisco Systems Belgium is Annick De Waele. The shares are held by Cisco ISH B.V (100%). It owns 100% of Cisco Systems Senegal SARL itself.
Directors
According to the 2025 annual accounts
Annick De Waele
Director
since 2021
Shareholders
Cisco ISH B.V
100%
Participations
Cisco Systems Senegal SARL
100%
Establishments
Establishment units
Physical locations of this company
De Kleetlaan 6A
1831 Machelen (Brab.)
De Kleetlaan 6 box A
1831 Machelen (Brab.)
Active since 13 May 1992
Dumolinlaan(Kor) 1 box 13
8500 Kortrijk
Active since 28 July 2019
de Meeûssquare 37
1000 Brussel
Active since 1 March 2025
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 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
- 0447.138.227
- VAT number
- BE 0447.138.227
- Registered office
- De Kleetlaan 6A, 1831 Machelen (Brab.)
- Names & denominations
- Cisco Systems Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 14 April 1992
- Peppol
- Active · Active since 22 Dec 2025
- Activities · NACE
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