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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Busy address KBO
52 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
ZF CV Systems Europe from Watermaal-Bosvoorde, company number BE0475956135, closed financial year 2025 with a result of € 315.9 million after tax. For that financial year ZF CV Systems Europe recorded revenue of € 1.4 billion and equity of € 636.4 million. Compared with financial year 2024, the result moved from € 107.4 million to € 315.9 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 July 27, 2026.
€ 636.4 million
▲ 99% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 315.9 million
▲ 194% vs 2024
Profit after tax over the fiscal year.
€ 5 million
▼ 66% 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 € 471.1 million.
People and assets in 2025
58
▼ 7.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 17.3 million
▲ 31% vs 2024
€ 297,800 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.
€ 6,596
▼ 71% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 817.3 million
€ 432.3 million is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 178.8 million
▲ 9% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 47 days on average.
€ 9.2 million
▼ 5% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 1,521,156,539 | € 1,663,474,610 | € 1,500,499,847 | € 1,422,222,002 | ▼ 5% |
| Profit after taxes | € -57,624,029 | € -29,538,550 | € 107,371,779 | € 315,898,135 | ▲ 194% |
| Equity | € 242,712,037 | € 213,173,487 | € 320,545,266 | € 636,443,401 | ▲ 99% |
| Total debts | € 1,126,849,105 | € 1,171,695,890 | € 1,013,329,054 | € 1,008,355,548 | |
| Cash | € 8,794,348 | € 9,523,262 | € 14,969,115 | € 5,031,256 | ▼ 66% |
| Retained profit | € 77,412,037 | € 47,873,487 | € 155,245,266 | € 471,143,401 | ▲ 203% |
| Bank debt | € 435,168,423 | € 425,000,000 | € 817,276,499 | € 817,276,500 | |
| Balance sheet total | € 1,448,194,884 | € 1,441,911,226 | € 1,398,330,953 | € 1,719,334,844 | ▲ 23% |
| Employees (FTE) | 50 | 54.1 | 65.3 | 58 | ▼ 7.3 |
Key figures of ZF CV Systems Europe, 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 ZF CV Systems Europe?
What happened at ZF CV Systems Europe in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 315.9 million (▲ 194% vs 2024). Source: NBB ↗
- KAI LUCKE became a director. NBB
- OLIVIER WAUCQUEZ became a director. NBB
- JEAN-PHILIPPE NOBLET became a director. NBB
- Philippe COLPRON became a director. NBB
- Christiaan VERSCHUEREN became a director. NBB
- New establishment in Watermaal-Bosvoorde. KBO
- Start of the company according to the CBE. KBO
In short
From € 57.6 million loss in 2022 to € 315.9 million profit in 2025.
Paid € 6 million in corporate taxes since 2022.
Best year ever: 2025, with € 315.9 million profit.
Pays suppliers within 47 days on average.
A new publication or filing at ZF CV Systems Europe? We notify you, reason included.
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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 ZF CV Systems Europe are KAI LUCKE, OLIVIER WAUCQUEZ, Philippe COLPRON, Christiaan VERSCHUEREN and JEAN-PHILIPPE NOBLET. The shares are held by Wabco Holdings BV (99.9%) and WBC BV (0.1%). It owns 100% of Laydon Composites Ltd., 100% of Tavares, 100% of Wabco Europe Holdings BV and 3.2% of Transics International itself.
Directors
According to the 2025 annual accounts
KAI LUCKE
Director
since 2026
OLIVIER WAUCQUEZ
Director
since 2025
Philippe COLPRON
Director
since 2014
Christiaan VERSCHUEREN
Director
since 2014
since 2025
Shareholders
Wabco Holdings BV
99.9%
WBC BV
0.1%
Participations
Establishments
Establishment units
Physical locations of this company
Terhulpsesteenweg 166
1170 Watermaal-Bosvoorde
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 52 companies are registered at this address.
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What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0475.956.135
- VAT number
- BE 0475.956.135
- Registered office
- Terhulpsesteenweg 166, 1170 Watermaal-Bosvoorde
- Names & denominations
- ZF CV Systems Europe
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 9 November 2001
- Peppol
- Active · Active since 28 Oct 2025
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