Financials
Financial year 2025
EURORAIL INTERNATIONAL from Aalst, company number BE0886188535, closed financial year 2025 with a result of € -103,481 after tax. For that financial year EURORAIL INTERNATIONAL recorded revenue of € 516,942 and equity of € 33.1 million. Compared with financial year 2024, the result moved from € 157,678 to € -103,481. The company made a loss. 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 August 21, 2026.
€ 33.1 million
▲ 84% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -103,481
▼ still € 157,678 profit in 2024
Profit after tax over the fiscal year.
€ 198,926
▲ € 188,583 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.9 million.
People and assets in 2025
3.8
▼ 0.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 389,560
▲ 3% vs 2024
€ 102,500 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.
Debts at end 2025
€ 3.9 million
▼ 71% vs 2024
Loans from banks and other lenders, long and short.
€ 27,729
▼ 66% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 94 days on average.
€ 68,674
▲ 6% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 565,949 | € 530,150 | € 633,002 | € 516,942 | ▼ 18% |
| Profit after taxes | € 391,502 | € 78,214 | € 157,678 | € -103,481 | ▼ € 261,160 |
| Equity | € 17,812,945 | € 17,891,159 | € 18,048,838 | € 33,145,356 | ▲ 84% |
| Total debts | € 7,121,201 | € 10,589,069 | € 13,775,109 | € 4,153,633 | ▼ 70% |
| Cash | € 20,227 | € 157,929 | € 10,342 | € 198,926 | ▲ € 188,583 |
| Retained profit | € -2,028,518 | € -1,950,303 | € -1,792,625 | € -1,896,106 | ▼ € 103,481 |
| Bank debt | € 6,363,054 | € 10,263,054 | € 13,613,054 | € 3,880,000 | ▼ 71% |
| Balance sheet total | € 24,934,146 | € 28,480,228 | € 31,823,947 | € 37,298,989 | ▲ 17% |
| Employees (FTE) | 3.5 | 4.1 | 4.1 | 3.8 | ▼ 0.3 |
Key figures of EURORAIL INTERNATIONAL, 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 EURORAIL INTERNATIONAL?
What happened at EURORAIL INTERNATIONAL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Arnaldo MORGANTI stepped down as director. NBB
- Markus HUNKEL stepped down as director. NBB
- Eric DEBRAUWERE stepped down as director. NBB
- Henry POSNER III stepped down as director. NBB
- John HENSLER stepped down as director. NBB
- Marc DE CNIJF stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 103,481 (▼ € 261,160 vs 2024). filed late Source: NBB ↗
- Arnaldo MORGANTI became a director. NBB
In short
From € 391,502 profit in 2022 to € 103,481 loss in 2025.
Paid € 1,756 in corporate taxes since 2022.
Best year ever: 2022, with € 391,502 profit.
Pays suppliers within 94 days on average.
A new publication or filing at EURORAIL INTERNATIONAL? 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 shares are held by RAILROAD DEVELOPMENT CORPORATION BO (83.3%), ERIC DEBRAUWERE (10.3%), MARC DE CNIJF (3.4%) and ARNALDO MORGANTI (3%). It owns 100% of EURORAIL ITALIA S.P.A., 100% of NORTRANS SAS, 100% of INTERNATIONAL RAIL ROAD ROAD RIVER DISTRIBUTION SERVICES NV, 100% of EURORAIL FRANCE SAS, 100% of EURORAIL LORRAINE SAS and 100% of RAILLINER NV itself.
Directors
According to the 2025 annual accounts
Arnaldo MORGANTI
Director
since 2025 · until 2031
Markus HUNKEL
Bestuuder
since 2025 · until 2031
Eric DEBRAUWERE
Managing director
Owns 10.3% directly
Also active at: EURORAIL, IMMOBILIERE JOFRAN, RAILLINER, RAIL TERMINAL OPERATORS, RegioRail
since 2025 · until 2031
since 2025 · until 2031
John HENSLER
Director
since 2025 · until 2031
Shareholders
RAILROAD DEVELOPMENT CORPORATION BO
83.3%
ERIC DEBRAUWERE · director
10.3%
MARC DE CNIJF · director
3.4%
ARNALDO MORGANTI
3%
Participations
EURORAIL ITALIA S.P.A.
100%
NORTRANS SAS
100%
EURORAIL FRANCE SAS
100%
EURORAIL LORRAINE SAS
100%
100%
100%
100%
LA FORET LOGISTIQUE
50%
Establishments
Establishment units
Physical locations of this company
Ninovesteenweg 190
9320 Aalst
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 →EURORAIL same network
€ 12.4 million revenue · 2025
INTERNATIONAL RAIL ROAD RIVER DISTRIBUTION SERVICES same network
RAILLINER same network
€ 18,601 gross margin · 2025
RAIL TERMINAL OPERATORS same network
€ -6,057 gross margin · 2025
RegioRail same network
€ 19,751 revenue · 2025
+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
- 0886.188.535
- VAT number
- BE 0886.188.535
- Registered office
- Ninovesteenweg 190, 9320 Aalst
- Names & denominations
- EURORAIL INTERNATIONAL
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 8 January 2007
- Peppol
- Active · Active since 26 Nov 2025
- Activities · NACE
Managementactiviteiten van holdings
Activiteiten van holdings
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Holdings
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering