Financials
Financial year 2025
SMULDERS PROJECTS BELGIUM from Arendonk, company number BE0865525060, closed financial year 2025 with a result of € 30.4 million after tax. For that financial year SMULDERS PROJECTS BELGIUM recorded revenue of € 422.3 million and equity of € 44.9 million. Compared with financial year 2024, the result moved from € 21.8 million to € 30.4 million. Profitable, and profit is growing. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 16, 2026.
€ 44.9 million
▼ 46% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 30.4 million
▲ 40% vs 2024
Profit after tax over the fiscal year.
€ 16.9 million
▲ € 13.4 million vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 68 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
270.8
▼ 4.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 23.1 million
▼ 1% vs 2024
€ 85,200 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.
€ 830,285
▼ 46% vs 2024
Of which on lease € 309,856.
Debts at end 2025
€ 312,270
▼ 51% vs 2024
Loans from banks and other lenders, long and short.
€ 85.3 million
▲ 4% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 86 days on average.
€ 8.9 million
▼ 51% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 268,174,181 | € 437,501,580 | € 512,691,535 | € 422,343,466 | ▼ 18% |
| Profit after taxes | € 16,023,134 | € 57,747,199 | € 21,756,904 | € 30,432,999 | ▲ 40% |
| Equity | € 42,984,118 | € 60,731,317 | € 82,488,221 | € 44,921,220 | ▼ 46% |
| Total debts | € 149,964,900 | € 244,894,981 | € 157,726,396 | € 197,458,003 | ▲ 25% |
| Cash | € 28,964,447 | € 11,832,119 | € 3,519,867 | € 16,885,302 | ▲ € 13.4 million |
| Retained profit | € 37,886,573 | € 55,633,772 | € 77,390,676 | € 39,823,675 | ▼ 49% |
| Dividend | € 0 | € 40,000,000 | € 0 | € 68,000,000 | |
| Bank debt | € 1,272,150 | € 950,099 | € 638,425 | € 312,270 | ▼ 51% |
| Balance sheet total | € 205,009,018 | € 319,169,591 | € 254,911,338 | € 259,205,988 | ▲ 2% |
| Employees (FTE) | 230.2 | 259.3 | 275 | 270.8 | ▼ 4.2 |
Key figures of SMULDERS PROJECTS 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 SMULDERS PROJECTS BELGIUM?
What happened at SMULDERS PROJECTS BELGIUM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- David Muylaert stepped down as director. NBB
- Gunter Sannen stepped down as director. NBB
- Jan De Rycker stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 30.4 million (▲ 40% vs 2024). Source: NBB ↗
- David Muylaert became a director. NBB
- Guillaume Sauve stepped down as director. NBB
- Raf Iemants stepped down as director. NBB
- Gunter Sannen became a director. NBB
In short
From € 16 million profit in 2022 to € 30.4 million profit in 2025.
Paid € 43.3 million in corporate taxes since 2022.
Best year ever: 2023, with € 57.7 million profit.
Paid out € 108 million in dividends to the owners in total.
A new publication or filing at SMULDERS PROJECTS 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
The stake of SMULDERS GROUP, Lonete B.V. comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SMULDERS PROJECTS BELGIUMThe shares are held by SMULDERS GROUP (100%) and Lonete B.V. (0%). It owns 50% of Smulders SIF Steel Foundations BV itself.
Directors
According to the 2025 annual accounts
David Muylaert
Managing director
Also active at: IEMANTS, Lonete B.V., SMULDERS GROUP, DM Management, BOOMBEKE, WILLEMS STAALCONSTRUCTIES, HOOLST
since 2025 · until 2030
since 2021 · until 2025
since 2021 · until 2025
Gunter Sannen
Director
Also active at: L. SACCOL, SACCOL EN VAN LOOY VASTGOED, IEMANTS, Lonete B.V., DE MIJN, SMULDERS GROUP, BOOMBEKE, Antwerp pontoon services +2 more
since 2025 · until 2030
Vanheuverswyn Antoine
Director
since 2021 · until 2025
Jan De Rycker
Director
since 2025 · until 2030
Shareholders
100%
0%
Participations
Smulders SIF Steel Foundations BV
50%
Establishments
Establishment units
Physical locations of this company
Hoge Mauw 200
2370 Arendonk
Leo Bosschartlaan 20
2660 Antwerpen
Active since 28 May 2004
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 7 companies are registered at this address.
All companies at this address →IEMANTS same network
€ 555.1 million revenue · 2025
Lonete B.V. same network
€ 611,243 gross margin · 2025
SMULDERS GROUP same network
€ 644,630 revenue · 2025
THV IEMANTS - JAN DE NUL
JV Iemants - Eiffage Métal - Project "Deutsche Bucht"
+2 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
- 0865.525.060
- VAT number
- BE 0865.525.060
- Registered office
- Hoge Mauw 200, 2370 Arendonk
- Names & denominations
- SMULDERS PROJECTS BELGIUM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 May 2004
- Peppol
- Active · Active since 20 Apr 2026
- Activities · NACE
Vervaardiging van metalen constructiewerken en delen daarvan
Vervaardiging van metalen constructiewerken en onderdelen daarvan