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.
| 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.
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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