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 17.9 to 15.4.
-
Figures corrected NBB
Corrected annual account filed for 2024.
Financials
Financial year 2026
ECUHOLD from Antwerpen, company number BE0460849374, closed financial year 2026 with a result of € 15.9 million after tax. For that financial year ECUHOLD recorded revenue of € 4,215 and equity of € 101.4 million. Compared with financial year 2025, the result moved from € 21.3 million to € 15.9 million. The company is profitable. 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 October 5, 2026.
€ 101.4 million
▲ 19% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 15.9 million
▼ 25% vs 2025
Profit after tax over the fiscal year.
€ 4.8 million
▼ 68% vs 2025
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2026. Retained profit grew to € 89.3 million.
People and assets in 2026
15.4
▼ 0.4 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 3.9 million
▲ 33% vs 2025
€ 253,900 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.
€ 201,685
▼ 46% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2026
€ 5.6 million
▼ 58% vs 2025
Loans from banks and other lenders, long and short.
€ 7.4 million
▲ 105% vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 258 days on average.
€ 348,168
▲ 12% vs 2025
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | € 27,836 | € 27,841 | € 10,092 | € 4,215 | ▼ 58% |
| Profit after taxes | € 51,177,516 | € 27,906,901 | € 21,250,483 | € 15,946,012 | ▼ 25% |
| Equity | € 106,318,007 | € 134,224,908 | € 85,475,391 | € 101,421,403 | ▲ 19% |
| Total debts | € 103,210,355 | € 86,233,292 | € 129,440,735 | € 104,315,064 | ▼ 19% |
| Cash | € 6,438,864 | € 14,612,941 | € 14,912,202 | € 4,777,560 | ▼ 68% |
| Retained profit | € 94,215,539 | € 122,122,440 | € 73,372,923 | € 89,318,935 | ▲ 22% |
| Dividend | € 40,000,000 | € 0 | € 70,000,000 | € 0 | ▼ 100% |
| Bank debt | € 5,404,552 | € 17,886,810 | € 13,337,881 | € 5,580,762 | ▼ 58% |
| Balance sheet total | € 211,049,492 | € 221,742,407 | € 216,453,857 | € 207,070,469 | ▼ 4% |
| Employees (FTE) | 14.9 | 17.9 | 15.8 | 15.4 | ▼ 0.4 |
Key figures of ECUHOLD, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to ECUHOLD?
What happened at ECUHOLD in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Jan Kleine-Lasthues stepped down as director. NBB
- Nishil Nath stepped down as director. NBB
- New annual accounts for financial year 2026: profit of € 15.9 million (▼ 25% vs 2025). Source: NBB ↗
- Hetal Madhukant Gandhi stepped down as director. NBB
- Simon Bajada stepped down as director. NBB
- Jan Kleine-Lasthues became a director. NBB
- Simon Sachu stepped down as director. NBB
- Saleem Mohamed Nazir Mohamedhusein stepped down as director. NBB
In short
From € 51.2 million profit in 2023 to € 15.9 million profit in 2026.
Paid € 2.5 million in corporate taxes since 2023.
Best year ever: 2023, with € 51.2 million profit.
Paid out € 110 million in dividends to the owners in total.
Management
The shares are held by AGL NV (100%) and Ecu Global NV (0%). It owns 100% of ECU WORLDWIDE (PANAMA) SA (volgens het consolidatiepackage), 100% of FCL Marine Agencies BV (volgens het consolidatiepackage), 100% of ECU-WORLDWIDE NEW ZEALAND Ltd. (volgens het consolidatiepackage), 100% of ECU WORLDWIDE (GERMANY) Gmbh (volgens het consolidatiepackage), 100% of ECU WORLDWIDE (URUGUAY) S.A. (volgens het consolidatiepackage) and 100% of ECU-WORLDWIDE (UK) Ltd. (volgens het consolidatiepackage) itself.
Directors
According to the 2026 annual accounts
since 2024 · until 2026
Hetal Madhukant Gandhi
Director
since 2024 · until 2026
since 2026 · until 2032
since 2023 · until 2025
since 2025 · until 2031
Simon Sachu
Director
since 2024 · until 2025
Shareholders
100%
Participations
ECU WORLDWIDE (PANAMA) SA (volgens het consolidatiepackage)
100%
FCL Marine Agencies BV (volgens het consolidatiepackage)
100%
ECU-WORLDWIDE NEW ZEALAND Ltd. (volgens het consolidatiepackage)
100%
ECU WORLDWIDE (GERMANY) Gmbh (volgens het consolidatiepackage)
100%
ECU WORLDWIDE (URUGUAY) S.A. (volgens het consolidatiepackage)
100%
ECU-WORLDWIDE (UK) Ltd. (volgens het consolidatiepackage)
100%
Ecu Worldwide Logistica Colombia SAS
100%
ADMINISTRADORA HOUSE LINE C.A. (volgens het consolidatiepackage)
100%
Eculine Worldwide Logistics Co. LTD Cambodia (volgens het consolidatiepackage)
100%
INTEGRITY ENTERPISES PTY LTD. (volgens het consolidatiepackage)
100%
ECU WORLDWIDE (MALAYSIA) SND. Bhd. (volgens het consolidatiepackage)
100%
ECU WORLDWIDE (COLOMBIA) S.A.S. (volgens het consolidatiepackage)
100%
ECULINE WORLDWIDE LOGISTICS CO. LTD. (volgens het consolidatiepackage)
100%
ECU-WORLDWIDE SOUTH AFRICA (Pty.) Ltd. (volgens het consolidatiepackage)
100%
Prism Global Ltd (volgens het consolidatiepackage)
100%
STAR EXPRESS COMPANY LTD. (volgens het consolidatiepackage)
100%
ECU-WORLDWIDE (KENYA) Ltd. (volgens het consolidatiepackage)
100%
ECU-WORLDWIDE AUSTRALIA Pty. Ltd. (volgens het consolidatiepackage)
100%
ECU WORLDWIDE (MAURITIUS) Ltd. (volgens het consolidatiepackage)
100%
Prism Global LLC (volgens het consolidatiepackage)
100%
Ecu Worldwide CEE S.R.L. (volgens het consolidatiepackage)
100%
Asia Line Ltd. (volgens het consolidatiepackage)
100%
Allcargo Logistics FZE (volgens het consolidatiepackage)
100%
ECU INTERNATIONAL FAR EAST Ltd. (volgens het consolidatiepackage)
100%
ECU-WORLDWIDE CANADA Inc. (volgens het consolidatiepackage)
100%
Ecu-Line Saudi-Arabia LLC (volgens het consolidatiepackage)
100%
ECU-WORLDWIDE (CZ) S.R.O. (volgens het consolidatiepackage)
100%
ECU-WORLDWIDE ITALIA srl. (volgens het consolidatiepackage )
100%
ECU-WORLDWIDE COTE D'IVOIRE Sarl (volgens het consolidatiepackage)
100%
ECU-WORLDWIDE (POLAND) SP Z.O.O. (volgens het consolidatiepackage)
100%
GULDARY S.A. (volgens het consolidatiepackage)
100%
ECU WORLDWIDE (JAPAN) Ltd. (volgens het consolidatiepackage)
100%
ECU-LINE SPAIN S.L. (volgens het consolidatiepackage)
100%
ECU-WORLDWIDE (SINGAPORE) Pte. Ltd. (volgens het consolidatiepackage)
100%
ECU-WORLDWIDE (NETHERLANDS) BV (volgens het consolidatiepackage)
100%
ECU-WORLDWIDE VIETNAM JOINT VENTURE COMPANY Ltd. (volgens het consolidatiepackage)
100%
Ecu Worldwide Servicios SA de CV (volgens het consolidatiepackage)
100%
ECU-WORLDWIDE (HONG KONG) Ltd. (volgens het consolidatiepackage)
100%
PT Ecu Worldwide Indonesia (volgens het consolidatiepackage)
100%
ECU WORLDWIDE (ECUADOR) S.A. (volgens het consolidatiepackage)
100%
ECU-LINE ALGERIE Sarl (volgens het consolidatiepackage)
99.9%
Ecu Worldwide Logistics Do Brasil Ltda (volgens het consolidatiepackage)
99.8%
ECU-WORLDWIDE (PHILIPINNES) Inc. (volgens het consolidatiepackage)
99.4%
ECU WORLDWIDE (UGANDA) Ltd. (volgens het consolidatiepackage)
99%
ECU-LINE ABU DHABI LLC (volgens het consolidatiepackage)
99%
ECU-LINE MIDDLE EAST LLC (volgens het consolidatiepackage)
99%
ECU WORLDWIDE TURKEY TASIMACILIK Ltd. Sti. (volgens het consolidatiepackage)
99%
ECU WORLDWIDE MOROCCO S.A. (volgens het consolidatiepackage)
98.9%
EUROCENTRE FZCO (volgens het consolidatiepackage)
92.3%
ECU WORLDWIDE (ARGENTINA) SA (volgens het consolidatiepackage)
90%
ELWA GHANA Ltd. (volgens het consolidatiepackage)
90%
ECU WORLDWIDE (CHILE) S.A. (volgens het consolidatiepackage)
80%
Ecu-Line Zimbabwe (Pvt) Ltd. (volgens het consolidatiepackage)
70%
ECU WORLDWIDE (GUATEMALA) S.A. (volgens het consolidatiepackage)
66.7%
ECU WORLDWIDE (EL SALVADOR)S.P.Z.o.o. SA DE CV (volgens het consolidatiepackage)
66%
ECU-WORLDWIDE (CYPRUS) Ltd. (volgens het consolidatiepackage
55%
ECU WORLDWIDE EGYPT Ltd. (volgens het consolidatiepackage)
55%
ECU WORLDWIDE PERU S.A.C. (volgens het consolidatiepackage)
50%
FCL Marine Agencies Bremen gmbh (volgens het consolidatiepackage)
50%
Fasder SA (volgens het consolidatiepackage)
50%
Allcargo Logistics LLC (volgens het consolidatiepackage)
49%
ECU-WORLDWIDE (THAILAND) Co. Ltd. (volgens het consolidatiepackage)
49%
SOCIETE ECU-LINE TUNISIE Sarl (volgens het consolidatiepackage)
49%
Ecu Worldwide (Bahrain) Co. W.L.L. (volgens het consolidatiepackage)
49%
ECU-LINE DOHA W.L.L. (volgens het consolidatiepackage)
49%
Establishments
Establishment units
Physical locations of this company
Schomhoeveweg 15
2030 Antwerpen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 8 companies are registered at this address.
All companies at this address →FMA-LINE HOLDING same network
ECU WORLDWIDE (BELGIUM) same network
€ 60.1 million revenue · 2026
Antwerp Freight Station same network
€ 6.4 million revenue · 2026
ECU INTERNATIONAL same network
FCL MARINE AGENCIES BELGIUM same network
€ 1.2 million gross margin · 2025
+3 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
- 0460.849.374
- VAT number
- BE 0460.849.374
- Registered office
- Schomhoeveweg 15, 2030 Antwerpen
- Names & denominations
- ECUHOLD
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 12 June 1997
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
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