Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 42 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
ARDO FOODS from Ardooie, company number BE0859755144, closed financial year 2025 with a result of € -24 million after tax. For that financial year ARDO FOODS recorded revenue of € 850.3 million and equity of € 51.4 million. Compared with financial year 2024, the result moved from € -40.8 million to € -24 million. The company made a loss. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on December 15, 2025.
€ 51.4 million
▼ 32% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -24 million
▲ 41 % less loss than in 2024
Profit after tax over the fiscal year.
€ 12 million
▼ 62% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -4.1 million.
People and assets in 2025
120.6
▲ 3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 12.7 million
▼ 4% vs 2024
€ 105,700 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.
€ 2 million
▲ 30% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 255 million
▼ 2% vs 2024
€ 9.8 million is repaid this year. At this pace the long-term loan is gone in ≈ 14 years.
€ 185.7 million
▲ 14% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 74 days on average.
€ 4.2 million
▼ 2% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | € 113,333,338 | € 497,841,618 | € 850,300,133 | ▲ 71% |
| Profit after taxes | € 30,924,343 | € -25,391,763 | € -40,773,828 | € -24,019,005 | ▲ € 16.8 million |
| Equity | € 172,557,400 | € 126,165,638 | € 75,391,809 | € 51,372,805 | ▼ 32% |
| Total debts | € 140,086,103 | € 386,800,474 | € 575,156,096 | € 646,015,544 | ▲ 12% |
| Cash | € 17,336,880 | € 32,604,173 | € 31,454,357 | € 12,022,569 | ▼ 62% |
| Retained profit | € 117,057,400 | € 70,665,638 | € 19,891,809 | € -4,127,195 | ▼ € 24 million |
| Dividend | € 0 | € 21,000,000 | € 10,000,000 | € 0 | ▼ 100% |
| Bank debt | € 91,528,432 | € 204,321,429 | € 258,964,286 | € 255,000,000 | ▼ 2% |
| Balance sheet total | € 312,643,503 | € 512,966,111 | € 650,547,906 | € 698,380,426 | ▲ 7% |
| Employees (FTE) | 112.8 | 103.3 | 117.6 | 120.6 | ▲ 3 |
Key figures of ARDO FOODS, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to ARDO FOODS?
What happened at ARDO FOODS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Pro-Fund BV stepped down as director. NBB
- Jan HASPESLAGH stepped down as director. NBB
- Jules Noten Comm.V. stepped down as director. NBB
- Bernard HASPESLAGH stepped down as director. NBB
- Stefaan Decraene stepped down as director. NBB
- TNFO stepped down as director. NBB
- Vasticom BV stepped down as director. NBB
- Liesbeth Haspeslagh stepped down as director. NBB
In short
From € 30.9 million profit in 2022 to € 24 million loss in 2025.
Paid € 132,520 in corporate taxes since 2022.
Best year ever: 2022, with € 30.9 million profit.
Paid out € 31 million in dividends to the owners in total.
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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 RIWARD comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ARDO FOODSThe shares are held by RIWARD (100%). It owns 100% of GEL PAM SAS, 100% of CANADA INC 10353060, 100% of ARDO UK Ltd., 100% of ARDO VIOLAINES SAS, 100% of ARDO Austria Frost GMBH and 100% of AQUITAINE LEGUMES SURGELES SAS itself.
Directors
According to the 2025 annual accounts
Director · represented by Conny Vandendriessche
Also active at: INSURANCE INVESTMENTS, ALLIA INSURANCE BROKERS, EnergyVision, ARDO ENERGY, Medipartner Holding, Pro-Tinue, Insurance Investments Group, Insurance Investments International +3 more
since 2023 · until 2026
since 2023 · until 2025
Jan HASPESLAGH
Director
Also active at: Cube, FIEUW KOELTECHNIEK, RMS CONTROLS, FIEBRA, CLIMA COOLSYSTEMS, CONFELIM, ARDO ENERGY, Greenway Foods Holding +3 more
since 2023 · until 2026
Chairman of the board · represented by Jules Noten
Also active at: SIHOLD, Siena Invest, ARDO ENERGY, DIGROM IMMO, Kaeron
since 2023 · until 2026
Bernard HASPESLAGH
Director
Also active at: DUJARDIN FOODS, ARDO ARDOOIE, ARDO E. HASPESLAGH, RIWARD, DIGROM IMMO
since 2023 · until 2026
since 2023 · until 2026
since 2024 · until 2026
Director · represented by Jan Vander Stichele
Also active at: LOTUS BAKERIES, HESBAYEFROST, STEENHOUT, BEAULIEU INTERNATIONAL GROUP, B.I.G COORDINATION CENTER, ARDO ENERGY, Vanéflon Holding, HESBAYE IMMO +2 more
since 2023 · until 2026
since 2023 · until 2026
Shareholders
100%
Participations
GEL PAM SAS
100%
CANADA INC 10353060
100%
ARDO UK Ltd.
100%
ARDO VIOLAINES SAS
100%
ARDO Austria Frost GMBH
100%
AQUITAINE LEGUMES SURGELES SAS
100%
ARDO Benimodo SLU
100%
FROZEN HERBS
100%
100%
ARDO GOURIN SAS
100%
ARDO BV
100%
ROSEMARY & THYME
100%
DUJARDIN BRETAGNE SAS
100%
100%
100%
25%
ARDO IMMO S.R.O.
ARDO FOODS SLU
Establishments
Establishment units
Physical locations of this company
Wezestraat 61
8850 Ardooie
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 9 companies are registered at this address.
All companies at this address →ARDO ARDOOIE same network
€ 140.3 million revenue · 2025
ARDO same network
€ 792.8 million revenue · 2025
VEGRAS same network
€ 49.8 million revenue · 2025
Inero
€ 73,794 gross margin · 2025
ARDO ENERGY same network
+4 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
- 0859.755.144
- VAT number
- BE 0859.755.144
- Registered office
- Wezestraat 61, 8850 Ardooie
- Names & denominations
- ARDO FOODS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 July 2003
- Peppol
- Active · Active since 14 Jul 2025
- Activities · NACE
Managementactiviteiten van holdings
Activiteiten van hoofdkantoren
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