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 19 % of short-term debt in 2023; threshold 65 %.
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Annual account missing NBB
Fiscal year 2024 was expected before 31 July 2025 and has not been filed.
Financials
Financial year 2023
SYENSQO SPECIALTY POLYMERS BELGIUM from Brussel, company number BE0880405949, closed financial year 2023 with a result of € 13.8 million after tax. For that financial year SYENSQO SPECIALTY POLYMERS BELGIUM recorded revenue of € 219.3 million and equity of € 39.8 million. Compared with financial year 2022, the result moved from € 13.9 million to € 13.8 million. The company is profitable. 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 June 26, 2024.
€ 39.8 million
▲ 53% vs 2022
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 13.8 million
▼ 1% vs 2022
Profit after tax over the fiscal year.
Stays in the company
No dividend for 2023. Retained profit grew to € 29.7 million.
People and assets in 2023
128.2
▲ 4.5 vs 2022
Average over the fiscal year, from the social balance sheet.
€ 17.6 million
▲ 3% vs 2022
€ 137,300 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.
€ 19,785
▼ 51% vs 2022
Book value of vehicles, furniture and equipment.
Debts at end 2023
€ 6,983
▼ € 3.3 million vs 2022
Loans from banks and other lenders, long and short.
€ 12 million
▲ 65% vs 2022
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 25 days on average.
€ 9.1 million
▲ 32% vs 2022
Taxes, VAT and social contributions still to pay.
| 2021 | 2022 | 2023 | Change 2022 → 2023 | |
|---|---|---|---|---|
| Revenue | € 177,076,551 | € 201,015,503 | € 219,275,984 | ▲ 9% |
| Profit after taxes | € 12,892,882 | € 13,936,996 | € 13,807,820 | ▼ 1% |
| Equity | € 12,084,026 | € 26,021,023 | € 39,828,842 | ▲ 53% |
| Total debts | € 29,555,288 | € 17,483,925 | € 21,511,860 | ▲ 23% |
| Cash | € 9 | € 9 | - | |
| Land & buildings | € 145,927 | € 125,275 | € 104,623 | ▼ 16% |
| Retained profit | € 1,910,282 | € 15,847,279 | € 29,655,098 | ▲ 87% |
| Dividend | € 12,000,000 | € 0 | € 0 | |
| Bank debt | € 0 | € 3,263,079 | € 6,983 | ▼ € 3.3 million |
| Balance sheet total | € 46,250,666 | € 45,437,560 | € 63,816,435 | ▲ 40% |
| Employees (FTE) | 121.1 | 123.7 | 128.2 | ▲ 4.5 |
Key figures of SYENSQO SPECIALTY POLYMERS BELGIUM, fiscal years 2021 to 2023, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2024 has not been filed yet; it was expected before 31 July 2025.
What happened to SYENSQO SPECIALTY POLYMERS BELGIUM?
What happened at SYENSQO SPECIALTY POLYMERS BELGIUM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Werner Engel stepped down as director. NBB
- Bernard GOFFAUX stepped down as director. NBB
- Georges HOUTAPPEL stepped down as director. NBB
- New annual accounts for financial year 2023: profit of € 13.8 million (▼ 1% vs 2022). Source: NBB ↗
- Werner Engel became a director. NBB
- Bernard GOFFAUX became a director. NBB
- Georges HOUTAPPEL became a director. NBB
- New establishment in Brussel. KBO
In short
From € 12.9 million profit in 2021 to € 13.8 million profit in 2023.
Paid € 14 million in corporate taxes since 2021.
Best year ever: 2022, with € 13.9 million profit.
Paid out € 12 million in dividends to the owners in total.
Management
The stake of SYENSQO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SYENSQO SPECIALTY POLYMERS BELGIUMThe shares are held by SYENSQO (100%).
Directors
According to the 2023 annual accounts
Werner Engel
Director
since 2023 · until 2029
Bernard GOFFAUX
Managing director
since 2023 · until 2029
Georges HOUTAPPEL
Director
since 2023 · until 2029
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Raketstraat 98
1130 Brussel
Industriepark "De Bruwaan" 43
9700 Oudenaarde
Active since 31 March 2006
Haandorpweg(KAL) 1227
9130 Beveren
Active since 1 January 2015
Raketstraat 98-100
1130 Brussel
Active since 1 June 2023
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 8 companies are registered at this address.
All companies at this address →SYENSQO PARTICIPATIONS BELGIQUE
EECO HOLDING
SYENSQO same network
Syensqo Stock Option Management
€ 600,000 revenue · 2025
Fonds Hannon bis
+3 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
- 0880.405.949
- VAT number
- BE 0880.405.949
- Registered office
- Raketstraat 98, 1130 Brussel
- Names & denominations
- SYENSQO SPECIALTY POLYMERS BELGIUM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 31 March 2006
- Peppol
- Active · Active since 18 Dec 2025
- Activities · NACE
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