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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Tight liquidity NBB
Cash and receivables cover 43 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
49 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Whitewood Operations from Brussel, company number BE0840674551, closed financial year 2025 with a result of € 4.5 million after tax. For that financial year Whitewood Operations recorded a gross margin of € 5.4 million and equity of € 3.2 million. Compared with financial year 2024, the result moved from € 542,826 to € 4.5 million. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on August 12, 2026.
€ 3.2 million
▲ 54% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 4.5 million
▲ € 4 million vs 2024
Profit after tax over the fiscal year.
€ 964,747
▲ € 731,015 vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 3.4 million paid out
75 % of the profit went to the shareholders, mostly to Boisblanc (90 % of the shares). That is where the money ends up.
People and assets in 2025
9.2
▲ 2.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 814,969
▲ 94% vs 2024
€ 88,600 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.
€ 221,260
▲ 168% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 2.7 million
▲ 3% vs 2024
€ 1 million is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 2.8 million
Supplier invoices still open on the last day of the fiscal year.
€ 2 million
▲ 272% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2023 | 2024 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 2,308,239 | € 1,602,748 | € 1,326,942 | € 5,367,429 | ▲ € 4 million |
| Profit after taxes | € 1,039,213 | € 496,567 | € 542,826 | € 4,495,387 | ▲ € 4 million |
| Equity | € 1,013,846 | € 1,510,413 | € 2,053,239 | € 3,169,647 | ▲ 54% |
| Total debts | € 5,958,918 | € 8,212,583 | € 9,822,276 | € 8,535,677 | ▼ 13% |
| Cash | € 207,024 | € 1,417,257 | € 233,732 | € 964,747 | ▲ € 731,015 |
| Land & buildings | € 86,182 | € 75,912 | € 65,641 | € 55,371 | ▼ 16% |
| Retained profit | € 951,846 | € 1,448,413 | € 1,991,239 | € 3,107,647 | ▲ 56% |
| Dividend | € 100,000 | € 0 | € 0 | € 3,378,980 | |
| Bank debt | € 2,255,912 | € 3,367,791 | € 2,580,142 | € 2,667,793 | ▲ 3% |
| Balance sheet total | € 7,722,765 | € 10,472,996 | € 12,625,515 | € 11,705,324 | ▼ 7% |
| Employees (FTE) | 9.2 | 8.5 | 7 | 9.2 | ▲ 2.2 |
Key figures of Whitewood Operations, fiscal years 2023 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 Whitewood Operations?
What happened at Whitewood Operations in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Boisblanc BV stepped down as director. NBB
- Valerie Vermandel BV stepped down as director. NBB
- CECE stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 4.5 million (▲ € 4 million vs 2024). filed late Source: NBB ↗
- Boisblanc BV became a director. NBB
- Valerie Vermandel BV became a director. NBB
- CECE became a director. NBB
- New establishment in Brussel. KBO
In short
From € 1 million profit in 2023 to € 4.5 million profit in 2025.
Paid € 2.4 million in corporate taxes since 2023.
Best year ever: 2025, with € 4.5 million profit.
On average € 583,400 of value added per employee in 2025.
A new publication or filing at Whitewood Operations? 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
The stake of Boisblanc comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Whitewood OperationsThe shares are held by Boisblanc (90%). It owns 100% of Whitewood Property Management and 66.7% of Whhitewood Logistics itself.
Directors
According to the 2025 annual accounts
since 2023 · until 2029
Director · represented by Tobias Schwagten
Also active at: Cityforward Schuman HoldCo, Cityforward Borchette, Cityforward Demot 28, Cityforward Belliard 232, Cityforward Joseph 54, Cityforward Joseph 70, Cityforward Madou, Cityforward Demot 24 +13 more
since 2023 · until 2029
Director · represented by Frédéric Van der Planken
Also active at: DEVILISH, Whitewood Logistics
since 2023 · until 2029
Shareholders
90%
Participations
Establishments
Establishment units
Physical locations of this company
Koningsstraat 47
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 49 companies are registered at this address.
All companies at this address →Banque Jules Joire et Cie
NIEUW - VLAAMSE ALLIANTIE
Vormingscentrum Lodewijk Dosfel
Vlaams Pers-, Radio- en Televisie-Instituut
Vereniging van Vlaamse Mandatarissen
+44 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
- 0840.674.551
- VAT number
- BE 0840.674.551
- Registered office
- Koningsstraat 47, 1000 Brussel
- Names & denominations
- Whitewood Operations
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 27 October 2011
- Peppol
- Active · Active since 29 Aug 2025
- Activities · NACE
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen
Bemiddeling in verband met exploitatie van en handel in onroerend goed
Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed voor een vast bedrag of op contractbasis