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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Tight liquidity NBB
Cash and receivables cover 11 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2023.
Financials
Financial year 2025
CINER GLASS BELGIUM from Lommel, company number BE0752834420, closed financial year 2025 with a result of € -16.6 million after tax. For that financial year CINER GLASS BELGIUM recorded a gross margin of € -10.2 million and equity of € 73.1 million. Compared with financial year 2024, the result moved from € -12.2 million to € -16.6 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 July 17, 2026.
€ 73.1 million
▲ € 83.8 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -16.6 million
▼ 37 % more loss than in 2024
Profit after tax over the fiscal year.
€ 654,446
▼ 81% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -35.2 million.
People and assets in 2025
53
▲ 39.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 5.6 million
▲ 159% vs 2024
€ 105,000 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.
€ 317,215
▲ 106% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 300.7 million
▲ 58% vs 2024
Loans from banks and other lenders, long and short.
€ 76.1 million
▲ € 66 million vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 1.4 million
▲ € 1.2 million vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -866,570 | € -1,120,340 | € -3,481,042 | € -10,231,623 | ▼ € 6.8 million |
| Profit after taxes | € -1,676,245 | € -3,838,287 | € -12,151,833 | € -16,616,856 | ▼ € 4.5 million |
| Equity | € 2,136,658 | € 1,454,371 | € -10,697,462 | € 73,085,682 | ▲ € 83.8 million |
| Total debts | € 3,324,994 | € 16,468,684 | € 202,527,319 | € 382,316,074 | ▲ 89% |
| Cash | € 5,477 | € 77,362 | € 3,503,903 | € 654,446 | ▼ 81% |
| Land & buildings | € 818,983 | € 8,719,565 | € 8,648,677 | € 8,648,677 | |
| Retained profit | € -2,602,342 | € -6,440,629 | € -18,592,462 | € -35,209,318 | ▼ € 16.6 million |
| Bank debt | € 818,983 | € 10,000,000 | € 190,000,000 | € 300,650,298 | ▲ 58% |
| Balance sheet total | € 5,461,652 | € 17,923,055 | € 191,829,857 | € 455,401,756 | ▲ 137% |
| Employees (FTE) | 2.9 | 5.7 | 13.2 | 53 | ▲ 39.8 |
Key figures of CINER GLASS 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 31 July 2027.
What happened to CINER GLASS BELGIUM?
What happened at CINER GLASS BELGIUM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Nicholas Rodney Hall stepped down as director. NBB
- Gökhan Şen stepped down as director. NBB
- Cuneyt Basaran stepped down as director. NBB
- Yener Ciner stepped down as director. NBB
- Mehmet Ali Erdogan stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 16.6 million. Source: NBB ↗
- Gökhan Şen became a director. NBB
- Nicholas Rodney Hall became a director. NBB
In short
From € 1.7 million loss in 2022 to € 16.6 million loss in 2025.
Paid € 9,787 in corporate taxes since 2022.
A new publication or filing at CINER GLASS BELGIUM? 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
Directors
According to the 2025 annual accounts
Gökhan Şen
Managing director
since 2026 · until 2029
Yener Ciner
Director
since 2020 · until 2026
Cuneyt Basaran
Director
since 2023 · until 2029
Nicholas Rodney Hall
Director
since 2025 · until 2031
Mehmet Ali Erdogan
Director
since 2020 · until 2026
Gürsel Usta
Director
since 2020 · until 2025
Establishments
Establishment units
Physical locations of this company
Marie Popelinstraat 125
3920 Lommel
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0752.834.420
- VAT number
- BE 0752.834.420
- Registered office
- Marie Popelinstraat 125, 3920 Lommel
- Names & denominations
- CINER GLASS BELGIUM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 21 August 2020
- Peppol
- Active · Active since 1 Jul 2026
- Activities · NACE
Vervaardiging van holglas
Vervaardiging en bewerking van overig glas, inclusief technisch glaswerk
Vervaardiging en bewerking van ander glas (inclusief technisch glaswerk)
Groothandel in vlakglas
Markt- en opinieonderzoek
Vormen en bewerken van vlakglas
Vervaardiging van vlakglas
Handel in eigen onroerend goed