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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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Shrinking team NBB
FTE fell two years in a row, from 290.2 to 246.5.
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Busy address KBO
10 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
AGFA from Mortsel, company number BE0456366588, closed financial year 2025 with a result of € -40.8 million after tax. For that financial year AGFA recorded revenue of € 374.7 million and equity of € 66.7 million. Compared with financial year 2024, the result moved from € -35.4 million to € -40.8 million. The company made a loss. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on May 21, 2026.
€ 66.7 million
▲ 143% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -40.8 million
▼ 15 % more loss than in 2024
Profit after tax over the fiscal year.
€ 1.5 million
▼ 15% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -21.3 million.
People and assets in 2025
246.5
▼ 16.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 57 million
▼ 2% vs 2024
€ 231,300 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.
€ 235,058
▲ 11% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 152.5 million
▲ 2% vs 2024
Loans from banks and other lenders, long and short.
€ 78.6 million
▼ 11% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 84 days on average.
€ 17.5 million
▲ 1% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 440,199,261 | € 432,199,400 | € 425,298,926 | € 374,700,885 | ▼ 12% |
| Profit after taxes | € 51,454,260 | € -49,685,732 | € -35,415,005 | € -40,790,931 | ▼ € 5.4 million |
| Equity | € 42,593,350 | € 62,907,618 | € 27,492,613 | € 66,701,682 | ▲ 143% |
| Total debts | € 348,312,678 | € 272,239,650 | € 298,538,187 | € 285,184,370 | ▼ 4% |
| Cash | € 858,436 | € 600,384 | € 1,765,969 | € 1,500,046 | ▼ 15% |
| Land & buildings | € 192,647 | € 169,754 | € 47,694 | € 24,801 | ▼ 48% |
| Retained profit | € 37,588,856 | € -12,096,876 | € -47,511,881 | € -21,302,812 | ▲ € 26.2 million |
| Bank debt | € 0 | € 0 | € 150,000,000 | € 152,494,632 | ▲ 2% |
| Balance sheet total | € 412,855,937 | € 345,708,332 | € 332,726,539 | € 362,096,310 | ▲ 9% |
| Employees (FTE) | 359.1 | 290.2 | 262.7 | 246.5 | ▼ 16.2 |
Key figures of AGFA, 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 AGFA?
What happened at AGFA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Loi Ieng Lam stepped down as director. NBB
- Gunther Koch stepped down as director. NBB
- Vincent Wille stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 40.8 million. Source: NBB ↗
- PJY Management BV stepped down as director. NBB
- Loi Ieng Lam became a director. NBB
- Gunther Koch became a director. NBB
- Vincent Wille became a director. NBB
In short
From € 51.5 million profit in 2022 to € 40.8 million loss in 2025.
Best year ever: 2022, with € 51.5 million profit.
Pays suppliers within 84 days on average.
Management
The shares are held by Agfa-Gevaert NV (100%) and Luithagen NV (0%). It owns 100% of Agfa HealthCare Kazakhstan LLP, 100% of Inca Digital Printers Limited, 100% of Agfa HealthCare Malaysia SDN BHD, 100% of Agfa Graphics Srl, 100% of Agfa IJC and 100% of Agfa HealthCare UK Ltd itself.
Directors
According to the 2025 annual accounts
Director · represented by Pascal Juéry
Also active at: Agfa HealthCare, Agfa-Gevaert
since 2020 · until 2026
Loi Ieng Lam
Director
since 2024 · until 2030
Vincent Wille
Director
since 2021 · until 2027
Gunther Koch
Director
since 2023 · until 2029
Shareholders
100%
0%
Participations
Agfa HealthCare Kazakhstan LLP
100%
Inca Digital Printers Limited
100%
Agfa HealthCare Malaysia SDN BHD
100%
Agfa Graphics Srl
100%
Agfa IJC
100%
Agfa HealthCare UK Ltd
100%
Agfa Inc
100%
Agfa HealthCare Ukraine LLC
100%
Agfa HealthCare (Shanghai) Co Ltd
100%
Agfa HealthCare Mexico SA de CV
100%
Agfa SA
100%
PT Gevaert Agfa HealthCare Indonesia
99.6%
Agfa Middle East FZCO
82.9%
Agfa do Brasil Ltda
66.3%
Agfa HealthCare India Private Ltd
62.2%
Digital Illustrate Inc
15%
Agfa Gevaert HealthCare GmbH
11%
Establishments
Establishment units
Physical locations of this company
Septestraat 27
2640 Mortsel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 10 companies are registered at this address.
All companies at this address →Agfa HealthCare same network
€ 99.4 million revenue · 2025
Agfa-Gevaert same network
€ 423.3 million revenue · 2025
Agfa - Gevaert Bedrijfsclubs
Luithagen same network
€ 4.9 million revenue · 2025
Pensioenfonds Agfa-Gevaert
+5 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
- 0456.366.588
- VAT number
- BE 0456.366.588
- Registered office
- Septestraat 27, 2640 Mortsel
- Names & denominations
- AGFA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 22 November 1995
- Peppol
- Active · Active since 20 Nov 2020
- Activities · NACE
Groothandel in foto- en filmapparatuur en in andere optische artikelen
Groothandel in foto- en filmapparatuur en in overige optische artikelen
Vervaardiging van andere chemische producten, neg
Vervaardiging van fotochemische producten
Activiteiten van fotografen, met uitzondering van persfotografen
Overige fotografische activiteiten
Fotostudio's en overige fotografische activiteiten
Fotolaboratoria