Financials
Financial year 2025
ARDENNE RAILS from Dison, company number BE0460122765, closed financial year 2025 with a result of € 1.1 million after tax. For that financial year ARDENNE RAILS recorded a gross margin of € 3.1 million and equity of € 3.4 million. Compared with financial year 2024, the result moved from € 885,936 to € 1.1 million. Profitable, and profit is growing. 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 June 30, 2026.
€ 3.4 million
▲ 48% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.1 million
▲ 24% vs 2024
Profit after tax over the fiscal year.
€ 709,578
▲ 116% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 3 million.
People and assets in 2025
12
▼ 0.6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 954,212
▼ 6% vs 2024
€ 79,500 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.
€ 1.2 million
▲ 243% vs 2024
Of which on lease € 920,193.
Debts at end 2025
€ 3.2 million
▲ 22% vs 2024
€ 587,079 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 1 million
▲ 15% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 180,102
▼ 41% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 2,658,898 | € 2,855,036 | € 2,907,181 | € 3,133,115 | ▲ 8% |
| Profit after taxes | € 660,169 | € 745,511 | € 885,936 | € 1,100,284 | ▲ 24% |
| Equity | € 1,655,046 | € 2,400,557 | € 2,286,493 | € 3,386,777 | ▲ 48% |
| Total debts | € 5,499,799 | € 3,143,129 | € 4,448,372 | € 4,463,852 | |
| Cash | € 509,540 | € 568,646 | € 328,248 | € 709,578 | ▲ 116% |
| Retained profit | € 1,155,922 | € 1,901,434 | € 1,887,370 | € 3,037,654 | ▲ 61% |
| Dividend | € 600,000 | € 0 | € 1,000,000 | € 0 | ▼ 100% |
| Bank debt | € 2,606,022 | € 2,173,078 | € 2,637,492 | € 3,214,642 | ▲ 22% |
| Balance sheet total | € 7,385,845 | € 5,774,686 | € 6,734,865 | € 7,850,628 | ▲ 17% |
| Employees (FTE) | 11 | 11.9 | 12.6 | 12 | ▼ 0.6 |
Key figures of ARDENNE RAILS, 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 ARDENNE RAILS?
What happened at ARDENNE RAILS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- GEHLEN MANAGEMENT SRL stepped down as director. NBB
- Roger GEHLEN stepped down as director. NBB
- Eddy JOENEN stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.1 million (▲ 24% vs 2024). Source: NBB ↗
- GEHLEN MANAGEMENT SRL became a director. NBB
- Roger GEHLEN became a director. NBB
- Eddy JOENEN became a director. NBB
- New establishment in Dison. KBO
In short
From € 660,169 profit in 2022 to € 1.1 million profit in 2025.
Paid € 1.2 million in corporate taxes since 2022.
Best year ever: 2025, with € 1.1 million profit.
On average € 261,100 of value added per employee in 2025.
Management
The stake of GEHLEN MANAGEMENT comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ARDENNE RAILSThe shares are held by GEHLEN MANAGEMENT (52%). It owns 80% of DECORECY itself.
Directors
According to the 2025 annual accounts
Managing director · represented by Roger GEHLEN
Also active at: UNIMMO, GEHLEN IMMO, ETABLISSEMENTS PAULY - ANDRIANNE, COVEBAT, G-Bois, COMBLAIN MOTORS, ROGER GEHLEN, SERBI +27 more
since 2021 · until 2027
Roger GEHLEN
Représentant permanent personne morale
Also active at: GEHLEN IMMO, COVEBAT, G-Bois, Société Internationale de Travaux Publics, ROGER GEHLEN, SERBI, GEFOR, DEGETRA +23 more
since 2021 · until 2027
since 2021 · until 2027
Shareholders
Participations
80%
Establishments
Establishment units
Physical locations of this company
Chemin de Xhénorie 11
4821 Dison
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
All companies at this address →PIPE CONSULT same network
€ 1.4 million gross margin · 2025
CORELIA INVEST same network
€ 219,586 gross margin · 2025
DECORECY same network
€ 226,826 gross margin · 2025
SUSTAINABLE RAILWAY same network
€ -37,453 gross margin · 2025
BARCHON TRAILER SERVICES
+1 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
- 0460.122.765
- VAT number
- BE 0460.122.765
- Registered office
- Chemin de Xhénorie 11, 4821 Dison
- Names & denominations
- ARDENNE RAILS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 12 March 1997
- Peppol
- Active · Active since 10 Sept 2025
- Activities · NACE
Bouw van boven- en ondergrondse spoorwegen
Bouwrijp maken van terreinen
Grondverzet
Groothandel in auto's en lichte bestelwagens (<= 3,5 ton)
Detailhandel in auto's en lichte bestelwagens (<= 3,5 ton)
Bouw van autowegen en andere wegen
Overige gespecialiseerde bouwactiviteiten, neg
Detailhandel in motorvoertuigen
+6