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BAXTER

Active
Public limited companyfounded 1968active for 58 yearsBoulevard René Branquart(L) 80, 7860 Lessines, BelgiumKBO/BCE: BE 0403.093.693
Summary

BAXTER has been active since 1968 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €83.8m and a net result of €6.2m. Equity has been growing by about 10% per year since 2018. Its solvency ranks better than 57% of 94 sector peers (NACE 21, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

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BAXTERActiveChecked score 91/100
Risk analysis ReportCompare

Overview

Overview

Official details

Source: KBO
Status
Active Normal situation
Registered office
11 active companies are registered at this address Source: KBO register, as of 2 November 2026.
Activity
Manufacture of basic pharmaceutical products and pharmaceutical preparations NACE 21201
Joint committees
116 Paritair Comité voor de scheikundige nijverheid
207 Paritair Comité voor de bedienden uit de scheikundige nijverheid · annual accounts 2025
Establishment units
2.105.442.804 7860 Lessines, since 01-06-1970
2.215.045.973 7860 Lessines, since 21-12-2012
Financial year end
31 December
Peppol
Reachable since 30-01-2026
Company details

Board and ownership

Board
and 2 others
Auditor
PwC Réviseurs d'Entreprises SRL
Shareholders
  • Baxter International INCannual accounts 2025
Holdings
Shares in 4 companies including Baxter Medico Farmaceutica Lda and BAXTER BELGIUM
Board & ownership

Financial position

91 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.2%
Annual accounts 2025
Turnover
€106.6m
▲ 2.2%
Profit
€6.2m
▼ 64.0%
Equity
€83.8m
▲ 7.6%
Total assets
€160.0m
▲ 3.4%
Employees on 31-12-2025
967
▼ 1.9%
Standalone figures, without subsidiaries
Filed on 08-07-2026, 23 days before the deadline
Financials
Score breakdownraises riskLiquidity: current ratio 1.44lowers riskSize: turnover €106.6m, 901.3 FTE, total assets €160.0m, files consolidated accountsFounded in 1968Equity €83.8m (52.4% of total assets)Show the evidence

Checked score

Score 2025
91 / 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 63% of companies in pharmaceuticals (NACE 21)
Every signal that counts is listed under Signals.
Financial strength · tick: 2024
Strong
Solvency 77+2
equity 52.4% of total assets
Liquidity 64-24
short-term debt 38.7%
Profitability 75-7
return on assets 3.8%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (16 companies, NACE 21, large)
Last 24 months 12-2024: 0.1% 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.2%▲ +0.1 percentage points vs 06-2025highest value 08-2025: 0.1%▼ -0.1 percentage points vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026lowest value 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026 08-2026: 0.2%▲ +0.1 percentage points vs 07-2026 09-2026: 0.2%● unchanged vs 08-2026 10-2026: 0.2%● unchanged vs 09-2026 11-2026: 0.2%● unchanged vs 10-2026
Credit of up to €7,600,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.44 (2.84 in 2024), below the usual 1.5. Short-term debt is 38.7% of total assets. 47.6% of the assets are financed with debt and provisions.
Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 21). It does better than 59% of them on solvency, 93% on liquidity, 59% on profitability and 42% on growth.

The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises riskneutral
lowers risk · Size: turnover €106.6m, 901.3 FTE, total assets €160.0m, files consolidated accounts
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
raises risk · Liquidity: current ratio 1.44
NBB · annual accounts
lowers risk · Founded in 1968
Companies that have existed this long fail less often. How much that weighs depends on the rest of the company's profile.
KBO
lowers risk · Equity €83.8m (52.4% of total assets)
NBB · annual accounts
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-07-2026, 23 days ahead of the deadline.
NBB · 5 filings
Deviation from the deadline
2025
23 days early
2024
22 days early
2023
22 days early
2022
21 days early
2021
19 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 5 accounts on average 21 days before the deadline. In the sector (NACE 21), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 10 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Financials

Financials · financial year 2025, full format, standalone accounts

Annual accounts 2025 filed on 08-07-2026 at the NBB Consolidated accounts 2025 at the NBB all 72 filings

Turnover
€106.6m▲ 2.2%
2024 · €104.2m
EBIT margin
7.7%▼ 0.2pp
2024 · 7.9%
Net result
€6.2m▼ 64.0%
2024 · €17.1m
Working capital
€26.9m▼ 51.2%
2024 · €55.2m
In the rankings #2 company by total assets in Hainaut, Pharmaceuticals sector#2 company by equity in Hainaut, Pharmaceuticals sector#2 employer in Lessines
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 0% lower than in 2024. It is the third fall in a row.

Turnover€106.6m 2025 Operating result€8.2m 2025 Net result€6.2m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Manufacture of basic pharmaceutical products and pharmaceutical preparations (NACE 21). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€79.8m-€83.1m▲ 4.1%€92.6m▲ 11.5%€99.8m▲ 7.8%€102.0m▲ 2.1%€106.3m▲ 4.3%€104.2m▼ 2.0%€106.6m▲ 2.2%
Operating result€5.9m-€9.5m▲ 62.4%€6.3m▼ 33.8%€7.2m▲ 13.7%€10.5m▲ 46.6%€8.6m▼ 18.3%€8.2m▼ 4.5%€8.2m▼ 0.1%
Net result€10.8m-€6.4m▼ 40.3%€4.6mabove the sector's middle half▼ 27.9%€4.8mabove the sector's middle half▲ 3.4%€12.4mabove the sector's middle half▲ 160%€6.5mabove the sector's middle half▼ 47.9%€17.1mabove the sector's middle half▲ 163%€6.2mabove the sector's middle half▼ 64.0%
EBIT margin7.4%-11.5%▲ 4.1pp6.8%▼ 4.7pp7.2%▲ 0.4pp10.3%▲ 3.1pp8.1%▼ 2.2pp7.9%▼ 0.2pp7.7%▼ 0.2pp
Equity€40.6m-€46.4m▲ 14.4%€50.5mabove the sector's middle half▲ 8.9%€54.9mabove the sector's middle half▲ 8.8%€67.0mabove the sector's middle half▲ 21.9%€73.1mabove the sector's middle half▲ 9.2%€77.9mabove the sector's middle half▲ 6.6%€83.8mabove the sector's middle half▲ 7.6%
Total assets€112.1m-€123.8m▲ 10.4%€134.1mabove the sector's middle half▲ 8.4%€132.0mabove the sector's middle half▼ 1.6%€141.3mabove the sector's middle half▲ 7.1%€150.8mabove the sector's middle half▲ 6.8%€154.8mabove the sector's middle half▲ 2.6%€160.0mabove the sector's middle half▲ 3.4%
Debt€70.1m-€77.3m▲ 10.3%€82.9m▲ 7.2%€76.3m▼ 7.9%€72.9m▼ 4.5%€76.2m▲ 4.5%€75.5m▼ 0.9%€75.2m▼ 0.4%
Working capital-€18.8m--€11.1m▲ 40.9%-€7.8mbelow the sector's middle half▲ 29.7%€27.5mabove the sector's middle half€39.6mabove the sector's middle half▲ 44.2%€47.6mabove the sector's middle half▲ 20.1%€55.2mabove the sector's middle half▲ 15.9%€26.9mabove the sector's middle half▼ 51.2%
Solvency36.2%-37.5%▲ 1.3pp37.6%within the sector's middle half▲ 0.2pp41.6%within the sector's middle half▲ 4.0pp47.4%within the sector's middle half▲ 5.8pp48.5%within the sector's middle half▲ 1.1pp50.3%within the sector's middle half▲ 1.9pp52.4%within the sector's middle half▲ 2.0pp
Current ratio0.67-0.82▲ 0.150.88below the sector's middle half▲ 0.061.96within the sector's middle half▲ 1.072.54within the sector's middle half▲ 0.582.63within the sector's middle half▲ 0.092.84above the sector's middle half▲ 0.221.44within the sector's middle half▼ 1.41
Return on assets (ROA)9.6%-5.2%▼ 4.4pp3.5%within the sector's middle half▼ 1.7pp3.6%within the sector's middle half▲ 0.2pp8.8%above the sector's middle half▲ 5.2pp4.3%within the sector's middle half▼ 4.5pp11.0%above the sector's middle half▲ 6.7pp3.8%within the sector's middle half▼ 7.2pp
Staff (FTE)833.6-821.5▼ 1.5%856.2above the sector's middle half▲ 4.2%925.4above the sector's middle half▲ 8.1%915.2above the sector's middle half▼ 1.1%932.3above the sector's middle half▲ 1.9%900.4above the sector's middle half▼ 3.4%901.3above the sector's middle half▲ 0.1%
above within below The sector band is the middle half of the companies in Manufacture of basic pharmaceutical products and pharmaceutical preparations (NACE 21). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €160.0m
Fixed assets €71.1m ▲ 2.1%
Current assets €88.9m ▲ 4.4%
Equity and liabilities €160.0m
Equity €83.8m ▲ 7.6%
Provisions €962,157 ▼ 28.2%
Debt €75.2m ▼ 0.4%
Debt's share of the balance-sheet total falls from 48.8% to 47.0%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€15.0m▼
2024 · €15.5m
Cash flow
€13.0m▼
2024 · €24.3m
Quick ratio
1.28▼
2024 · 2.54
Debt to equity
0.90▼
2024 · 0.97
ROE
7.3%▼
2024 · 21.9%
Interest coverage
8.70▲
2024 · 7.12
Debt ≤ 1 year
€61.9m▲
2024 · €29.9m
Debt > 1 year
€13.3m▼
2024 · €45.6m
Income taxes
€1.2m▲
2024 · €651,739
Customer credit
125 days▼
2024 · 133 days
Supplier credit
4259 days▲
2024 · 3305 days
Staff costs
€71.0m▲
2024 · €69.6m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-202331-12-202431-12-2025
Employees at the balance-sheet date1,0019961,001986967
full-time772757761744716
part-time229239240242251
in full-time equivalents934.5920.5925.2913.1887.9
Average over the year, in full-time equivalents925.4915.2932.2900.4901.3
On a permanent contract854898915915891
Joined114641027271
Left7069978790
Agency workers, average number64.977.651.439.832.5
Training hours29,47614,40924,29336,31329,806

Source: social balance sheet in the 2021 to 2025 annual accounts

Overdue debts

tax and social security
Item20212022202320242025
Overdue tax debts-€0€496,652€0€0
Overdue social security (RSZ) debts----€0

Source: notes to the 2021 to 2025 annual accounts (statement of debts)

Securities and guarantees

on own assets and for others
Item20212022202320242025
Guarantees given for others' debts€4.4m€4.5m€5.0m€5.1m€4.5m

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€9.3m€6.7m€5.3m€4.6m€8.3m
Financial fixed assets--€4,921--
Depreciation and write-downs of the year€8.5m€6.8m€7.3m€7.2m€6.8m

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Auditor

fees
Item20212022202320242025
Fee for the audit€116,474€122,298€131,494€131,494€133,466
Other work by the auditor€26,500----

Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)

Comparable companies

These companies have the same main activity as BAXTER: manufacture of basic pharmaceutical products and pharmaceutical preparations (NACE 21201). They are comparable in size and age: total assets between €63m and €377m, founded between 1941 and 1999.

CompanyFoundedTotal assetsEquityTurnoverNet resultFTEFinancial year
BAXTER Lessines1968€160.0m€83.8m€106.6m€6.2m901.32025
Novartis Manufacturing Puurs-Sint-Amands1962€285.2m€148.4m€256.5m€6.8m9802025
Organon Heist Heist-op-den-Berg1972€349.6m€235.2m€287.4m€18.2m1,004.92025
KELA - Kempisch Laboratorium - Kela Laboratoria Hoogstraten1941€63.2m€31.9m€55.2m-€1.2m261.42025
Novo Nordisk Production Belgium SA Brussel1999€153.5m€74.2m€258.6m€11.9m587.22025
PHYSIOL Liège1986€245.1m€78.4m€66.4m€13.6m159.12025
Pfizer Elsene1954€377.4m-€358.3m€3.7m2972025

They were chosen from the 116 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 513 companies had the same profile as BAXTER has now. Two years later, 0.8% had gone bankrupt and 96.1% were still going.

  • Large
  • 20 years or older
  • solvency 30% or more
  • a profit under 5% of the balance sheet
0.8% went bankrupt
3.1% stopped otherwise
96.1% was still going

That fits the bankruptcy probability of BAXTER itself: 0.2% within 12 months.

Test of the method

The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 513 companies, not a prediction for BAXTER. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 90 lines

Source: Annual accounts 2025 at the NBB, filed on 08-07-2026.

Balance sheet Code20242025
Assets
Total assets20/58€154.8m€160.0m▲
Fixed assets21/28€69.7m€71.1m▲
Intangible fixed assets21€1.1m€0.8m▼
Tangible fixed assets22/27€47.8m€49.5m▲
Land and buildings22€9.7m€9.7m=
Plant, machinery and equipment23€18.1m€17.5m▼
Furniture and vehicles24€0.2m€0.1m▼
Leasing and similar rights25€15.2m€14.7m▼
Assets under construction and advance payments27€4.5m€7.5m▲
Financial fixed assets28€20.8m€20.8m=
Affiliated companies280/1€20.8m€20.8m=
Participating interests280€20.8m€20.8m=
Current assets29/58€85.1m€88.9m▲
Stocks and contracts in progress3€9.2m€9.9m▲
Stocks30/36€9.2m€9.9m▲
Raw materials and consumables30/31€9.2m€9.9m▲
Finished goods33€0€0=
Amounts receivable within one year40/41€41.0m€38.8m▼
Trade receivables40€37.9m€36.4m▼
Other amounts receivable41€3.0m€2.5m▼
Current investments50/53€34.7m€40.0m▲
Other investments51/53€34.7m€40.0m▲
Deferred charges and accrued income490/1€0.2m€0.1m▼
Equity and liabilities
Total equity and liabilities10/49€154.8m€160.0m▲
Equity10/15€77.9m€83.8m▲
Contributions10/11€7.1m€7.1m=
Capital10€7.1m€7.1m=
Issued capital100€7.1m€7.1m=
Reserves13€2.2m€2.2m=
Non-distributable reserves130/1€0.7m€0.7m=
Legal reserve130€0.7m€0.7m=
Other1319€0.02m€0.02m=
Tax-exempt reserves132€1.5m€1.5m=
Profit (loss) carried forward14€67.9m€74.0m▲
Investment grants15€0.7m€0.5m▼
Provisions and deferred taxes16€1.3m€1.0m▼
Provisions for liabilities and charges160/5€1.3m€0.9m▼
Other liabilities and charges164/5€1.3m€0.9m▼
Deferred taxes168€0.01m€0.01m▼
Amounts payable17/49€75.5m€75.2m▼
Amounts payable after more than one year17€45.6m€13.3m▼
Financial debts170/4€45.6m€13.3m▼
Leasing and similar obligations172€14.4m€13.3m▼
Other loans174€31.2m€0▼
Amounts payable within one year42/48€29.9m€61.9m▲
Current portion of amounts payable after more than one year42€2.8m€2.8m▼
Financial debts43€0€31.2m▲
Credit institutions430/8€0€0=
Other loans439€0€31.2m▲
Trade debts44€16.9m€17.8m▲
Suppliers440/4€16.9m€17.8m▲
Taxes, remuneration and social security45€10.2m€10.2m▼
Taxes450/3€0.4m€0▼
Remuneration and social security454/9€9.8m€10.2m▲
Accrued charges and deferred income492/3€12€87▲
Income statement Code20242025
Operating income70/76A€117.7m€120.0m▲
Turnover70€104.2m€106.6m▲
Own construction capitalised72€0.9m€1.1m▲
Other operating income74€12.7m€12.3m▼
Operating charges60/66A€109.5m€111.8m▲
Goods for resale, raw materials and consumables60€1.9m€1.5m▼
Purchases600/8€3.3m€2.2m▼
Change in stocks: decrease (increase)609-€1.5m-€0.7m▲
Services and other goods61€27.0m€28.4m▲
Remuneration, social security and pensions62€69.6m€71.0m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7.2m€6.8m▼
Provisions for liabilities and charges: additions (uses and reversals)635/8-€0.2m-€0.4m▼
Other operating charges640/8€3.9m€4.3m▲
Non-recurring operating charges66A€0€0.01m▲
Operating profit (loss)9901€8.2m€8.2m▼
Financial income75/76B€11.9m€1.0m▼
Recurring financial income75€1.6m€1.0m▼
Income from current assets751€1.1m€0.5m▼
Other financial income752/9€0.5m€0.5m▲
Non-recurring financial income76B€10.4m€0▼
Financial charges65/66B€2.4m€1.9m▼
Recurring financial charges65€2.4m€1.9m▼
Debt charges650€2.2m€1.7m▼
Other financial charges652/9€0.2m€0.1m▼
Profit (loss) for the period before taxes9903€17.7m€7.3m▼
Transfer from deferred taxes780€0.002m€0.001m▼
Income taxes67/77€0.7m€1.2m▲
Taxes670/3€0.7m€1.2m▲
Profit (loss) for the period9904€17.1m€6.2m▼
Profit (loss) for the period to be appropriated9905€17.1m€6.2m▼
Appropriation of the result
Profit (loss) to be appropriated9906€79.9m€74.0m▼
Profit (loss) brought forward from the previous period14P€62.8m€67.9m▲
Profit to be distributed694/7€12.0m€0▼
Return on contributions (dividend)694€12.0m€0▼
Social balance sheet
Average headcount (FTE)9087900.4901.3▲

The notes to these accounts have 96 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Line20182019202020212022202320242025Change
Operating income70/76A---€111.7m€115.6m€121.1m€117.7m€120.0m▲ 1.9%
Turnover70€79.8m€83.1m€92.6m€99.8m€102.0m€106.3m€104.2m€106.6m▲ 2.2%
Own construction capitalised72---€0.8m€0.9m€0.8m€0.9m€1.1m▲ 30.8%
Other operating income74---€11.1m€12.7m€13.9m€12.7m€12.3m▼ 2.7%
Operating charges60/66A---€104.5m€105.0m€112.4m€109.5m€111.8m▲ 2.1%
Goods for resale, raw materials and consumables60---€6.1m€4.3m€2.8m€1.9m€1.5m▼ 18.6%
Purchases600/8---€6.4m€4.7m€2.9m€3.3m€2.2m▼ 34.3%
Change in stocks: decrease (increase)609----€0.4m-€0.4m-€0.1m-€1.5m-€0.7m▲ 54.5%
Services and other goods61---€21.9m€23.3m€25.0m€27.0m€28.4m▲ 5.2%
Remuneration, social security and pensions62---€63.9m€66.3m€73.5m€69.6m€71.0m▲ 2.0%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9.9m€7.8m€8.1m€8.5m€6.8m€7.3m€7.2m€6.8m▼ 5.9%
Provisions for liabilities and charges: additions (uses and reversals)635/8---€0.02m€0.7m€0.08m-€0.2m-€0.4m▼ 93.9%
Other operating charges640/8---€4.0m€3.3m€3.7m€3.9m€4.3m▲ 11.3%
Non-recurring operating charges66A---€0.1m€0.4m€0€0€0.01m-
Operating profit (loss)9901€5.9m€9.5m€6.3m€7.2m€10.5m€8.6m€8.2m€8.2m▼ 0.1%
Financial income75/76B---€0.4m€2.8m€1.4m€11.9m€1.0m▼ 91.6%
Recurring financial income75€0.9m€0.7m€0.7m€0.4m€0.6m€1.4m€1.6m€1.0m▼ 36.1%
Income from financial fixed assets750---€0-----
Income from current assets751----€0.05m€0.8m€1.1m€0.5m▼ 52.5%
Other financial income752/9---€0.4m€0.5m€0.6m€0.5m€0.5m▲ 2.6%
Non-recurring financial income76B----€2.2m€0€10.4m€0▼ 100%
Financial charges65/66B---€0.5m€0.9m€2.1m€2.4m€1.9m▼ 22.3%
Recurring financial charges65€0.5m€0.5m€0.4m€0.5m€0.9m€2.1m€2.4m€1.9m▼ 22.3%
Debt charges650€0.3m€0.4m€0.3m€0.3m€0.6m€1.8m€2.2m€1.7m▼ 20.4%
Other financial charges652/9---€0.2m€0.2m€0.3m€0.2m€0.1m▼ 40.4%
Profit (loss) for the period before taxes9903€13.2m€9.8m€6.6m€7.1m€12.5m€7.9m€17.7m€7.3m▼ 58.6%
Transfer from deferred taxes780---€0.03m€0.002m€0.002m€0.002m€0.001m▼ 42.0%
Income taxes67/77€2.4m€3.3m€1.9m€2.3m€0.01m€1.4m€0.7m€1.2m▲ 83.9%
Taxes670/3---€2.3m€0.01m€1.4m€0.7m€1.2m▲ 83.9%
Profit (loss) for the period9904€10.8m€6.4m€4.6m€4.8m€12.4m€6.5m€17.1m€6.2m▼ 64.0%
Profit (loss) for the period to be appropriated9905€10.8m€6.4m€4.6m€4.8m€12.4m€6.5m€17.1m€6.2m▼ 64.0%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€112.1m€123.8m€134.1m€132.0m€141.3m€150.8m€154.8m€160.0m▲ 3.4%
Fixed assets21/28€73.9m€73.6m€75.0m€75.7m€75.9m€74.0m€69.7m€71.1m▲ 2.1%
Intangible fixed assets21-€0.4m€0.4m€1.3m€1.4m€1.2m€1.1m€0.8m▼ 27.3%
Tangible fixed assets22/27€51.4m€50.8m€52.2m€52.0m€52.0m€50.3m€47.8m€49.5m▲ 3.7%
Land and buildings22---€10.3m€9.7m€10.0m€9.7m€9.7m=
Plant, machinery and equipment23---€27.2m€19.6m€20.2m€18.1m€17.5m▼ 3.4%
Furniture and vehicles24---€0.2m€0.2m€0.3m€0.2m€0.1m▼ 29.6%
Leasing and similar rights25---€9.0m€15.4m€15.9m€15.2m€14.7m▼ 3.4%
Assets under construction and advance payments27---€5.3m€7.1m€4.0m€4.5m€7.5m▲ 64.9%
Financial fixed assets28€22.5m€22.5m€22.5m€22.5m€22.5m€22.5m€20.8m€20.8m=
Affiliated companies280/1---€22.5m€22.5m€22.5m€20.8m€20.8m=
Participating interests280---€22.5m€22.5m€22.5m€20.8m€20.8m=
Current assets29/58€38.2m€50.1m€59.1m€56.3m€65.4m€76.9m€85.1m€88.9m▲ 4.4%
Stocks and contracts in progress3€6.3m€6.7m€6.9m€7.3m€7.7m€7.8m€9.2m€9.9m▲ 7.2%
Stocks30/36---€7.3m€7.7m€7.8m€9.2m€9.9m▲ 7.2%
Raw materials and consumables30/31---€7.3m€7.7m€7.8m€9.2m€9.9m▲ 7.2%
Finished goods33---€75€75€75€0€0-
Amounts receivable within one year40/41€31.7m€43.3m€51.9m€42.9m€36.6m€31.8m€41.0m€38.8m▼ 5.3%
Trade receivables40---€40.7m€31.4m€28.5m€37.9m€36.4m▼ 4.2%
Other amounts receivable41---€2.2m€5.2m€3.3m€3.0m€2.5m▼ 19.3%
Current investments50/53---€6.0m€21.0m€36.8m€34.7m€40.0m▲ 15.4%
Other investments51/53---€6.0m€21.0m€36.8m€34.7m€40.0m▲ 15.4%
Deferred charges and accrued income490/1---€0.05m€0.1m€0.5m€0.2m€0.1m▼ 38.2%
Equity and liabilities
Total equity and liabilities10/49€112.1m€123.8m€134.1m€132.0m€141.3m€150.8m€154.8m€160.0m▲ 3.4%
Equity10/15€40.6m€46.4m€50.5m€54.9m€67.0m€73.1m€77.9m€83.8m▲ 7.6%
Contributions10/11€7.1m€7.1m€7.1m€7.1m€7.1m€7.1m€7.1m€7.1m=
Capital10---€7.1m€7.1m€7.1m€7.1m€7.1m=
Issued capital100---€7.1m€7.1m€7.1m€7.1m€7.1m=
Reserves13€2.2m€2.2m€2.2m€2.2m€2.2m€2.2m€2.2m€2.2m=
Non-distributable reserves130/1---€0.7m€0.7m€0.7m€0.7m€0.7m=
Legal reserve130---€0.7m€0.7m€0.7m€0.7m€0.7m=
Other1319---€0.02m€0.02m€0.02m€0.02m€0.02m=
Tax-exempt reserves132---€1.5m€1.5m€1.5m€1.5m€1.5m=
Profit (loss) carried forward14€28.0m€34.4m€39.0m€43.8m€56.3m€62.8m€67.9m€74.0m▲ 9.1%
Investment grants15---€1.8m€1.4m€1.0m€0.7m€0.5m▼ 36.2%
Provisions and deferred taxes16€1.4m€0.05m€0.8m€0.8m€1.5m€1.5m€1.3m€1.0m▼ 28.2%
Provisions for liabilities and charges160/5---€0.7m€1.4m€1.5m€1.3m€0.9m▼ 28.4%
Other liabilities and charges164/5---€0.7m€1.4m€1.5m€1.3m€0.9m▼ 28.4%
Deferred taxes168---€0.02m€0.02m€0.02m€0.01m€0.01m▼ 7.7%
Amounts payable17/49€70.1m€77.3m€82.9m€76.3m€72.9m€76.2m€75.5m€75.2m▼ 0.4%
Amounts payable after more than one year17€13.1m€16.1m€16.0m€47.5m€47.0m€46.9m€45.6m€13.3m▼ 70.8%
Financial debts170/4---€47.5m€47.0m€46.9m€45.6m€13.3m▼ 70.8%
Leasing and similar obligations172---€16.5m€15.8m€15.6m€14.4m€13.3m▼ 7.3%
Other loans174---€31.0m€31.2m€31.3m€31.2m€0▼ 100%
Amounts payable within one year42/48€57.0m€61.2m€66.9m€28.8m€25.7m€29.3m€29.9m€61.9m▲ 107%
Current portion of amounts payable after more than one year42---€2.4m€2.5m€2.7m€2.8m€2.8m▼ 0.8%
Financial debts43---€0€0€0€0€31.2m-
Credit institutions430/8---€0€0€0€0€0-
Other loans439---€0€0€0€0€31.2m-
Trade debts44€12.3m€11.4m€11.3m€12.5m€11.3m€13.6m€16.9m€17.8m▲ 4.9%
Suppliers440/4---€12.5m€11.3m€13.6m€16.9m€17.8m▲ 4.9%
Taxes, remuneration and social security45---€13.9m€12.0m€13.0m€10.2m€10.2m▼ 0.5%
Taxes450/3---€3.9m€1.2m€1.8m€0.4m€0▼ 100%
Remuneration and social security454/9---€10.0m€10.7m€11.2m€9.8m€10.2m▲ 4.1%
Accrued charges and deferred income492/3---€3€0.2m€69€12€87▲ 625%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€10.8m€6.4m€4.6m€4.8m€12.4m€6.5m€17.1m€6.2m▼ 64.0%
+ Depreciation and write-downs630€9.9m€7.8m€8.1m€8.5m€6.8m€7.3m€7.2m€6.8m▼ 5.9%
Operating cash flow (approximation)€20.7m€14.2m€12.7m€13.3m€19.3m€13.8m€24.3m€13.0m▼ 46.7%
Investment in fixed assets (approximation)--€7.5m-€9.5m-€9.2m-€7.0m-€5.4m-€3.0m-€8.3m▼ 179%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 72 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 consolidated 08-07-2026 2026-00266626 NBB
31-12-2025 full format 08-07-2026 2026-00266437 NBB
31-12-2024 full format 10-07-2025 2025-00272848 PDF
31-12-2024 consolidated 09-07-2025 2025-00272090 PDF
31-12-2023 consolidated 09-07-2024 2024-00229727 PDF
31-12-2023 full format 09-07-2024 2024-00229707 PDF
31-12-2022 consolidated 25-07-2023 2023-00270352 PDF
31-12-2022 full format 10-07-2023 2023-00218806 PDF
31-12-2021 consolidated 14-07-2022 2022-20189402 PDF
31-12-2021 full format 12-07-2022 2022-20183224 PDF

Show all 72 filings

Board & ownership

Directors

Directors
5 directors, 1 in day-to-day management, no change since 2025

Board 5

Frédéric Yannart
Director · since 01-01-2021 · listed in the 2025 annual accounts, filed on 08-07-2026
Current
Annelies Bryon
Director · since 15-07-2023 · 6-year term from 2023 · listed in the 2025 annual accounts, filed on 08-07-2026
Current
Guy In 't Ven
Director · since 15-07-2023 · 6-year term from 2023 · listed in the 2025 annual accounts, filed on 08-07-2026
Current
Serge Vandermotten
Director · since 15-07-2023 · 6-year term from 2023 · listed in the 2025 annual accounts, filed on 08-07-2026
Current
Abdellah El Kacem
Director · since 28-03-2025 · 6-year term from 2025 · listed in the 2025 annual accounts, filed on 08-07-2026
Current

Day-to-day management 1

Annelies Bryon
Managing director · appointed in the act of 28-07-2023
Current

Statutory auditor 1

PwC Réviseurs d'Entreprises SRL
Statutory auditor · current term since 01-07-2025 · 3-year term from 2025 · permanent representative: Romain Seffer · listed in the 2025 annual accounts, filed on 08-07-2026
Current
Office holders in the KBO →
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“L'actionnaire rappelle et confirme que le mandat des administrateurs est exercé à titre gratuit. Conformément à l'article 21 des statuts de…”
deed of 22-05-2025

Owners and capital

Shareholders

1 owner

Chain of control

  1. Baxter International INCUS consolidates
  2. BAXTER

Owners 1

Capital transactions

Shareholders according to the deeds
Stated in the act act of 20-03-2024 ↗
  • actionnaire unique all shares
Stated in the act act of 12-03-2015 ↗
  • Baxter Netherlands Holding B.V. 10,415 shares · 99,9712%
  • Baxter Sales and Distribution Corp. 3 shares · 0,0288%
Capital over time
  1. 24-08-2021 Capital stated in the deed · €7,122,417 · 10,418 shares
  2. 06-07-2015 Capital reduction of €15,614,853 · to €7,122,417
  3. 12-03-2015 Capital reduction of €15,614,853 · to €7,122,417 · “apport des Activités Baxalta”

Mandate history

32 people, 6 in office
Show
  • Board
  • Day-to-day management
  • Statutory auditor
  • Other function
  • began earlier
  • end not dated
Mandates per person, with start and end dates
Name Functions and periods
Frédéric Yannart
  • Director, from 01-01-2021 to date
Annelies Bryon
  • Director, from 15-07-2023 to date
  • Managing director, appointed in the act of 28-07-2023, still in office
Guy In 't Ven
  • Director, from 15-07-2023 to date
Serge Vandermotten
  • Director, from 15-07-2023 to date
Abdellah El Kacem
  • Director, from 28-03-2025 to date
PwC Réviseurs d'Entreprises SRL
  • Statutory auditor, appointed in the act of 02-09-2010, still in office
Lionel ROSOUX
  • Director, appointed in the act of 30-04-2024, until 17-03-2025
  • Director and managing director, until 17-03-2025
Herman Jacobs
  • Director, appointed in the act of 27-08-2013, until 31-05-2024
Adriano Marques Antunes
  • Director, appointed in the act of 22-12-2021, until 15-02-2024
  • Managing director, appointed in the act of 28-07-2023, until 15-02-2024
Jacques Delbecq
  • Director, appointed in the act of 12-05-2021, until 28-07-2023
Bhevan Chandrasena
  • Director, appointed in the act of 01-06-2016, until 31-01-2022
Giuseppe Spatola
  • Director, appointed in the act of 04-11-2019, until 31-12-2020
Andrea BORRELL VILA
  • Director, appointed in the act of 18-09-2012, until 30-10-2019
Erich KOLLEGGER
  • Director, appointed in the act of 18-03-2014, until 31-12-2017
Philippe LODOMEZ
  • Director, appointed in the act of 23-02-2011, until 28-10-2015
Emmanuel FELIX
  • Director, appointed in the act of 27-08-2013, until 04-06-2015
Hermann Jacobs
  • Director, from before 30-06-2014, no longer listed in the 2025 annual accounts
Achille Ghillotti
  • Director, until 31-12-2013
Mario Ricard
  • Director, until 15-10-2010
  • Director, appointed in the act of 23-02-2011, until 01-05-2013
Achille Ghilotti
  • Director, appointed in the act of 04-12-2012, no longer listed in the 2025 annual accounts
Emmanuel Foy
  • Director, appointed in the act of 16-11-2010, until 01-11-2012
Michael Costello
  • Director, appointed in the act of 17-11-2011, until 01-10-2012
  • Managing director, appointed in the act of 17-11-2011, ended, last mentioned on 17-11-2011
Anja Verbeke
  • Director, appointed in the act of 19-05-2010, until 30-06-2012
Renaud MAZY
  • Director, from before 19-06-2008 to 15-09-2011
  • Director and managing director, until 15-09-2011
Raynald Vermoesen
  • Permanent representative, until 01-07-2011
Christian De Vos
  • Director, until 31-12-2010
Pierre Destexhe
  • Director, from before 19-06-2008 to 03-05-2010
Anne Vissenackens
  • Director, appointed in the act of 27-08-2008, until 01-04-2010
Christan De Vos
  • Director, from before 19-06-2008, no longer listed in the 2025 annual accounts
Van de Velde Paul
  • Director, until 30-05-2008
Vinciane Verbiest
  • Director, until 25-04-2008
Dominique Cotteaux
  • Director, appointed in the act of 05-08-2005, last mentioned in 2005
  • Managing director, appointed in the act of 22-09-2005, last mentioned in 2005
See the board, name and registered office on a given date →

Network & group

Holdings and subsidiaries

4 holdings

Holdings 4

Source for every holding own accounts 2025

  • Baxter Medico Farmaceutica LdaPTsubsidiary
    Equity €10.4mResult €1.4m
    100%+ 0% via subsidiaries
  • BAXTER BELGIUMsubsidiary
    Equity €2.8m Profit of €1.9m in 2025 (profit of €2.8m in 2024) Checked score 69
    99.99%+ 0% via subsidiaries
  • BAXTER DISTRIBUTION CENTER EUROPEsubsidiary
    Equity €26.8m Profit of €915,355 in 2025 (profit of €1.0m in 2024) Checked score 93
    99%+ 0% via subsidiaries
  • BAXTER SERVICES EUROPE
    Equity €2.7m Profit of €487,820 in 2025 (profit of €714,855 in 2024) Checked score 68
    0.8%+ 0% via subsidiaries

Board mandates elsewhere

1 board mandate
Board mandates of BAXTERBAXTER sits on their board1
Baxter Pension Fund Belgium

Acquisitions and mergers

1 transaction
BE 0563.700.454partial demerger · Gazette deed of 06-07-2015 (4 acts) · effective 30-04-2015

Connections & network

18 connected companies
Depth
AGORIA, Shared director AAGORIABAXALTA BELGIUM MANUFACTURING, 5 shared directors BBBAXALTA BELGIUMMANUFACTURINGBaxter R and D Europe, 2 shared directors BRBaxter R and DEuropeBaxter World Trade, 2 shared directors BWBaxter WorldTradeCENTRE HOSPITALIER UNIVERSITAIRE DINANT GODINNE SAINTE-ELISABETH-UCL-NAMUR, Shared director CHCENTREHOSPITALIER…Cliniques de l'Europe - Europa Ziekenhuizen, Shared director CDCliniques del'Europe…Cliniques universitaires Saint-Luc, Shared director CUCliniquesuniversitaires…CONTRIBUONS A UNE WALLONIE PICARDE DE QUALITÉ, Shared director CACONTRIBUONS AUNE WALLONIE…EPM ACADEMY, Shared director EAEPM ACADEMYFondation Saint - Luc, Shared director FSFondationSaint - LucForum Nucléaire Belge-Belgisch Nucleair Forum, Shared director FNForumNucléaire…Gezondheidsinstellingen Brussel Bruxelles Institutions de Santé, Shared director GBGezondheidsin…Brussel…GlaxoSmithKline Biologicals, Shared director GBGlaxoSmithKlineBiologicalsINSTITUT NATIONAL DES RADIOELEMENTS, Shared director ININSTITUTNATIONAL DES…BAXTER BAXTER0403.093.693
Shared directors
This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
AGORIA
Shared director
→
BAXALTA BELGIUM MANUFACTURING
Shared director
→
Baxter R and D Europe
Shared director
→
Baxter World Trade
Shared director
→
Show 14 more companies with a shared director
CENTRE HOSPITALIER UNIVERSITAIRE DINANT GODINNE SAINTE-ELISABETH-UCL-NAMUR
Shared director
→
Cliniques de l'Europe - Europa Ziekenhuizen
Shared director
→
Cliniques universitaires Saint-Luc
Shared director
→
CONTRIBUONS A UNE WALLONIE PICARDE DE QUALITÉ
Shared director
→
EPM ACADEMY
Shared director
→
Fondation Saint - Luc
Shared director
→
Forum Nucléaire Belge-Belgisch Nucleair Forum
Shared director
→
Gezondheidsinstellingen Brussel Bruxelles Institutions de Santé
Shared director
→
GlaxoSmithKline Biologicals
Shared director
→
INSTITUT NATIONAL DES RADIOELEMENTS
Shared director
→
LA CONFÉRENCE DES HÔPITAUX ACADÉMIQUES DE BELGIQUE
Shared director
→
MercurHosp
Shared director
→
Nuclear Medicine Europe
Shared director
→
SOPARTEC
Shared director
→

Timeline

Acts, filings and financial milestones

Deadline for the 2026 accounts: 31-07-2027
2026
08-07
NBB filing Consolidated accounts 2025 filedNBB
23 days before the deadline
08-07
NBB filing Annual accounts 2025 filedNBB
full format
2025
29-07
Gazette deed Appointment: SRL PwC Reviseurs d'Entreprises (statutory auditor)
Permanent representative: Romain Seffer3 points ▸
  • General meeting, 30-06-2025
  • Auditor appointment, SRL PwC Reviseurs d'Entreprises (statutory auditor)
  • Permanent representative, Romain Seffer

Open the act in the Belgian Official Gazette

10-07
NBB filing Annual accounts 2024 filedPDF
full format
09-07
NBB filing Consolidated accounts 2024 filedPDF
22 days before the deadline
22-05
Gazette deed Resignation: Lionel Rosoux (director and managing director)
Appointment: Abdellah El Kacem (director)9 points ▸
  • General meeting, 28-03-2025
  • Director resignation, Lionel Rosoux (director and managing director)
  • Director appointment, Abdellah El Kacem (director)
  • Board composition, Frédéric Yannart (director)
  • Board composition, Guy In 't Ven (director)
  • Board composition, Serge Vandermotten (director)
  • Board composition, Abdellah El Kacem (director)
  • Board composition, Annelies Bryon (managing director)
  • Other provision, “rappel et confirmation par l'actionnaire unique, rémunération des administrateurs” (deed in French)

Open the act in the Belgian Official Gazette

2024
31-12
Financial Highest result from 2018 to 2025net €17.1m ▲163%
The net result of €17.1m is the highest of those years.
09-07
NBB filing Consolidated accounts 2023 filedPDF
22 days before the deadline
09-07
NBB filing Annual accounts 2023 filedPDF
full format
08-07
Gazette deed Resignation: Herman Jacobs (director)
Registered office clause8 points ▸
  • Registered office clause, “BOULEVARD RENE BRANQUART 80, 7860 LESSINES” (deed in French)
  • General meeting, 24-05-2024
  • Director resignation, Herman Jacobs (director)
  • Board composition, Frédéric Yannart (director)
  • Board composition, Guy In 't Ven (director)
  • Board composition, Serge Vandermotten (director)
  • Board composition, Annelies Bryon (managing director)
  • Board composition, Lionel Rosoux (managing director)

Open the act in the Belgian Official Gazette

30-04
Gazette deed Resignation: Adriano MARQUES ANTUNES (director)
Appointment: Lionel ROSOUX (director) · Power of attorney12 points ▸
  • General meeting, 01-03-2024
  • Director resignation, Adriano MARQUES ANTUNES (director)
  • Director appointment, Lionel ROSOUX (director)
  • Board composition, Herman Jacobs (director)
  • Board composition, Frédéric Yannart (director)
  • Board composition, Guy In 't Ven (director)
  • Board composition, Serge Vandermotten (director)
  • Board composition, Annelies Bryon (managing director)
  • Board composition, Lionel ROSOUX (managing director)
  • Board meeting, 01-03-2024
  • Director resignation, Adriano MARQUES ANTUNES (managing director)
  • Power of attorney, Lionel ROSOUX

Open the act in the Belgian Official Gazette

20-03
Gazette deed Capital & shares
Shareholding1 point ▸
  • actionnaire unique holds all the shares

Open the act in the Belgian Official Gazette

Show earlier events
2023
28-07
Gazette deed Appointments: Adriano Marques Antunes (managing director) and Annelies Bryon (managing director)
3 points ▸
  • Board meeting, 05-07-2023
  • Director appointment, Adriano Marques Antunes (managing director)
  • Director appointment, Annelies Bryon (managing director)

Open the act in the Belgian Official Gazette

28-07
Gazette deed Resignation: Jacques Delbecq (director)
Appointments: Annelies Bryon, Guy In 't Ven and Serge Vandermotten11 points ▸
  • General meeting, 26-06-2023
  • Director resignation, Jacques Delbecq (director)
  • Director appointment, Annelies Bryon (director)
  • Director appointment, Guy In 't Ven (director)
  • Director appointment, Serge Vandermotten (director)
  • Board composition, Herman Jacobs (director)
  • Board composition, Frédéric Yannart (director)
  • Board composition, Adriano Marques Antunes (director)
  • Board composition, Annelies Bryon (director)
  • Board composition, Guy In 't Ven (director)
  • Board composition, Serge Vandermotten (director)

Open the act in the Belgian Official Gazette

25-07
NBB filing Consolidated accounts 2022 filedPDF
10-07
NBB filing Annual accounts 2022 filedPDF
full format · 21 days before the deadline
19-04
Gazette deed Reappointment: Herman Jacobs (director)
7 points ▸
  • General meeting, 15-03-2023
  • General meeting, 24-09-2020
  • Director reappointment, Herman Jacobs (director)
  • Board composition, Herman Jacobs (director)
  • Board composition, Frédéric Yannart (director)
  • Board composition, Jacques Delbecq (director)
  • Board composition, Adriano Marques Antunes (director)

Open the act in the Belgian Official Gazette

2022
16-09
Gazette deed Reappointment: PwC Reviseurs d'Entreprises (statutory auditor)
2 points ▸
  • General meeting, 27-06-2022
  • Auditor reappointment, PwC Reviseurs d'Entreprises (statutory auditor)

Open the act in the Belgian Official Gazette

14-07
NBB filing Consolidated accounts 2021 filedPDF
12-07
NBB filing Annual accounts 2021 filedPDF
full format · 19 days before the deadline
25-01
Gazette deed Resignation: Bhevan Chandrasena (director)
Mandate compensation7 points ▸
  • General meeting, 06-01-2022
  • Director resignation, Bhevan Chandrasena (director)
  • Board composition, Herman Jacobs (director)
  • Board composition, Frédéric Yannart (director)
  • Board composition, Jacques Delbecg (director)
  • Board composition, Adriano Marques Antunes (director)
  • Mandate compensation, BAXTER

Open the act in the Belgian Official Gazette

2021
31-12
Financial Liquidity more than doubledcurrent ratio 1.96
The current ratio rises from 0.88 to 1.96. Short-term debt falls from €66.9m to €28.8m.
22-12
Gazette deed Appointment: Adriano Marques Antunes (director)
Mandate compensation8 points ▸
  • General meeting, 02-12-2021
  • Director appointment, Adriano Marques Antunes (director)
  • Board composition, Herman Jacobs (director)
  • Board composition, Bhevan Chandrasena (director)
  • Board composition, Frédéric Yannart (director)
  • Board composition, Jacques Delbecq (director)
  • Board composition, Adriano Marques Antunes (director)
  • Mandate compensation, BAXTER

Open the act in the Belgian Official Gazette

24-08
Gazette deed Amendment of the articles
Capital3 points ▸
  • General meeting, 15-06-2021
  • Amendment of the articles
  • Capital, €7,122,417

Open the act in the Belgian Official Gazette

12-05
Gazette deed Resignation: Giuseppe Spatola (director)
Appointments: Frédéric Yannart (director) and Jacques Delbecq (director) · Mandate compensation9 points ▸
  • General meeting, 15-03-2021
  • Director resignation, Giuseppe Spatola (director)
  • Director appointment, Frédéric Yannart (director)
  • Director appointment, Jacques Delbecq (director)
  • Board composition, Herman Jacobs (director)
  • Board composition, Bhevan Chandrasena (director)
  • Board composition, Frédéric Yannart (director)
  • Board composition, Jacques Delbecq (director)
  • Mandate compensation, BAXTER

Open the act in the Belgian Official Gazette

03-02
Gazette deed Permanent representative: Romain Seffer
2 points ▸
  • General meeting, 10-12-2020
  • Permanent representative, Romain Seffer

Open the act in the Belgian Official Gazette

2020
31-12
Financial Weakest financial yearnet €4.6m ▼27.9%
The net result drops to €4.6m, the lowest from 2018 to 2025. It recovers the following year.
31-12
Financial Equity above €50mequity €50.5m ▲8.9%
With a profit in every financial year since 2018, equity grows to €50.5m.
16-01
Gazette deed Resignation: Andrea Borrell Vila (director)
Mandate compensation6 points ▸
  • General meeting, 29-10-2019
  • Director resignation, Andrea Borrell Vila (director)
  • Board composition, Herman Jacobs (director)
  • Board composition, Bhevan Chandrasena (director)
  • Board composition, Giuseppe Spatola (director)
  • Mandate compensation, BAXTER

Open the act in the Belgian Official Gazette

2019
04-11
Gazette deed Appointment: Giuseppe Spatola (director)
Reappointment: Pricewaterhouse Coopers reviseurs d'entreprises (statutory auditor) · Mandate compensation8 points ▸
  • General meeting, 24-06-2019
  • Director appointment, Giuseppe Spatola (director)
  • Board composition, Andrea Borrell Vila (director)
  • Board composition, Herman Jacobs (director)
  • Board composition, Bhevan Chandrasena (director)
  • Board composition, Giuseppe Spatola (director)
  • Mandate compensation, BAXTER
  • Auditor reappointment, Pricewaterhouse Coopers reviseurs d'entreprises

Open the act in the Belgian Official Gazette

06-06
Gazette deed Amendment of the articles
2 points ▸
  • General meeting, 23-05-2019
  • Amendment of the articles

Open the act in the Belgian Official Gazette

2018
25-07
Gazette deed Resignation: Erich Kollegger (director)
Mandate compensation7 points ▸
  • General meeting, 21-06-2018
  • Director resignation, Erich Kollegger (director)
  • Board composition, Andrea Borrell Vila (director)
  • Board composition, Herman Jacobs (director)
  • Board composition, Bhevan Chandrasena (director)
  • Mandate compensation, BAXTER
  • Board resolution, “no replacement appointed for Erich Kollegger” (deed in French)

Open the act in the Belgian Official Gazette

2017
15-12
Gazette deed Permanent representative: Alexis VAN BAVEL
Statutory auditor2 points ▸
  • Permanent representative, Alexis VAN BAVEL
  • Statutory auditor, PricewaterhouseCoopers Réviseurs d'Entreprises Scerl

Open the act in the Belgian Official Gazette

2016
18-08
Gazette deed Reappointment: Pricewaterhouse Coopers reviseurs d'entreprises (statutory auditor)
2 points ▸
  • General meeting, 16-06-2016
  • Auditor reappointment, Pricewaterhouse Coopers reviseurs d'entreprises

Open the act in the Belgian Official Gazette

01-06
Gazette deed Resignation: Philippe Lodomez (director)
Appointment: Bhevan Chandrasena (director) · Mandate compensation8 points ▸
  • General meeting, 15-03-2016
  • Director resignation, Philippe Lodomez (director)
  • Director appointment, Bhevan Chandrasena (director)
  • Board composition, Andrea Borrell Vila (director)
  • Board composition, Herman Jacobs (director)
  • Board composition, Erich Kollegger (director)
  • Board composition, Bhevan Chandrasena (director)
  • Mandate compensation, BAXTER

Open the act in the Belgian Official Gazette

2015
09-07
Gazette deed Resignation: Emmanuel Felix (director)
6 points ▸
  • General meeting, 04-06-2015
  • Director resignation, Emmanuel Felix (director)
  • Board composition, Philippe Lodomez (director)
  • Board composition, Andrea Borrell Vila (director)
  • Board composition, Herman Jacobs (director)
  • Board composition, Erich Kollegger (director)

Open the act in the Belgian Official Gazette

06-07
Gazette deed Demerger: BAXTER splits off to BAXALTA BELGIUM MANUFACTURING
Capital decrease of €15,614,853 · Accounting effect · Amendment of the articles11 points ▸
  • General meeting, 30-04-2015
  • Demerger, “Activité Baxalta” (deed in French)
  • Accounting effect, 01-01-2015
  • Share issue, “nominatives, entièrement libérées et sans valeur nominale”, 6428558 (deed in French)
  • Capital decrease, €15,614,853
  • Capital, €7,122,417
  • Amendment of the articles
  • Suspensive condition, “décision concordante de scission partielle et d'augmentation de capital par l'assemblée générale extraordinaire des actionnaires de la société scindée” (deed in French)
  • No cash consideration, “Aucune soulte ne sera versée.” (deed in French)
  • No share exchange, “les actions existantes dans la société transférante ne seront pas échangées pour des actions dans la société scindée” (deed in French)
  • Mixed assets, “les actifs mixtes ne seront pas transférés à la société scindée et demeureront au sein de la société transférante (sans préjudice aux contrats mixtes, dont la p…” (deed in French)

Open the act in the Belgian Official Gazette

12-03
Gazette deed Demerger proposal: Baxter SA splits off to Baxalta Belgium Manufacturing SA
Capital decrease of €15,614,853 · Net-asset statement · Accounting effect18 points ▸
  • Demerger, “Transfert des Activités Baxalta de la Société Transférante à la Société Scindée” (deed in French)
  • Capital increase, €15,614,853
  • Capital decrease, €15,614,853
  • Share issue, “Nouvelles Actions”, 6428558 (deed in French)
  • Net-asset statement, 31-12-2014
  • Accounting effect, 01-01-2015
  • Proposal date, 27-02-2015
  • Expected approval date, 30-04-2015
  • Baxter Netherlands Holding B.V. holds 10,415 shares
  • Baxter Netherlands Holding B.V. holds 6,149 shares
  • Baxter Sales and Distribution Corp. holds 3 shares
  • Baxter Sales and Distribution Corp. holds 1 share
  • The act holds 6 more points.

Open the act in the Belgian Official Gazette

04-03
Gazette deed Reappointments: Andrea Borrell Vila, Philippe Lodomez and 3 others
11 points ▸
  • General meeting, 30-06-2014
  • Director reappointment, Andrea Borrell Vila (director)
  • Director reappointment, Philippe Lodomez (director)
  • Director reappointment, Hermann Jacobs (director)
  • Director reappointment, Emmanuel Félix (director)
  • Director reappointment, Erich Kollegger (director)
  • Board composition, Philippe Lodomez (director)
  • Board composition, Andrea Borrell Vila (director)
  • Board composition, Hermann Jacobs (director)
  • Board composition, Emmanuel Félix (director)
  • Board composition, Erich Kollegger (director)

Open the act in the Belgian Official Gazette

2014
18-03
Gazette deed Resignation: Achille Ghillotti (director)
Appointment: Erich Kollegger (director)8 points ▸
  • General meeting, 15-01-2014
  • Director resignation, Achille Ghillotti (director)
  • Director appointment, Erich Kollegger (director)
  • Board composition, Philippe Lodomez (director)
  • Board composition, Andrea Borrell Vila (director)
  • Board composition, Hermann Jacobs (director)
  • Board composition, Emmanuel Felix (director)
  • Board composition, Erich Kollegger (director)

Open the act in the Belgian Official Gazette

2013
27-08
Gazette deed Resignation: Mario Ricard (director)
Appointments: Herman Jacobs (director) and Emmanuel Félix (director) · Reappointment: PricewaterhouseCoopers reviseurs d'Entreprises (statutory auditor)10 points ▸
  • General meeting, 20-06-2013
  • Director resignation, Mario Ricard (director)
  • Director appointment, Herman Jacobs (director)
  • Director appointment, Emmanuel Félix (director)
  • Board composition, Philippe Lodomez (director)
  • Board composition, Andrea Borrell Vila (director)
  • Board composition, Achille Ghilotti (director)
  • Board composition, Herman Jacobs (director)
  • Board composition, Emmanuel Félix (director)
  • Auditor reappointment, PricewaterhouseCoopers reviseurs d'Entreprises

Open the act in the Belgian Official Gazette

30-01
Gazette deed Capital & shares
Branch creation2 points ▸
  • Board meeting, 21-12-2012
  • Branch creation, “Création d'une unité d'établissement” (deed in French)

Open the act in the Belgian Official Gazette

2012
04-12
Gazette deed Resignations: Michael Costello (director) and Emmanuel Foy (director)
Appointment: Achille Ghilotti (director) · Mandate term · Mandate compensation10 points ▸
  • General meeting, 01-10-2012
  • Director resignation, Michael Costello (director)
  • Director resignation, Emmanuel Foy (director)
  • Director appointment, Achille Ghilotti (director)
  • Mandate term, “jusqu'à l'assemblée générale ordinaire des actionnaires à tenir en 2014 qui délibèrera sur les comptes annuels clôturés au 31-12-2013” (deed in French)
  • Board composition, Philippe Lodomez (director)
  • Board composition, Mario Ricard (director)
  • Board composition, Andrea Borrell Vila (director)
  • Board composition, Achille Ghilotti (director)
  • Mandate compensation, BAXTER

Open the act in the Belgian Official Gazette

18-09
Gazette deed Resignation: Anja Verbeke (director)
Appointment: Andrea Borrell Vila (director) · Mandate compensation9 points ▸
  • General meeting, 21-06-2012
  • Director resignation, Anja Verbeke (director)
  • Director appointment, Andrea Borrell Vila (director)
  • Board composition, Emmanuel Foy (director)
  • Board composition, Philippe Lodomez (director)
  • Board composition, Mario Ricard (director)
  • Board composition, Michael Costello (director)
  • Board composition, Andrea Borrell Vila (director)
  • Mandate compensation, BAXTER

Open the act in the Belgian Official Gazette

03-01
Gazette deed Permanent representatives: Alexis Van Bavel and Emeric Seeuws
Resignation: Raynald Vermoesen (permanent representative)4 points ▸
  • General meeting, 09-12-2011
  • Permanent representative, Alexis Van Bavel
  • Permanent representative, Emeric Seeuws
  • Director resignation, Raynald Vermoesen (permanent representative)

Open the act in the Belgian Official Gazette

2011
17-11
Gazette deed Appointment: Michael Costello (director)
7 points ▸
  • General meeting, 10-10-2011
  • Director appointment, Michael Costello (director)
  • Board composition, Anja Verbeke (director)
  • Board composition, Emmanuel Foy (director)
  • Board composition, Philippe Lodomez (director)
  • Board composition, Mario Ricard (director)
  • Board composition, Michael Costello (director)

Open the act in the Belgian Official Gazette

17-11
Gazette deed Appointment: Michael Costello (managing director)
Accounting effect3 points ▸
  • Board meeting, 10-10-2011
  • Director appointment, Michael Costello (managing director)
  • Accounting effect, 10-10-2011

Open the act in the Belgian Official Gazette

26-10
Gazette deed Resignation: Renaud Mazy (director and managing director)
6 points ▸
  • General meeting, 15-09-2011
  • Director resignation, Renaud Mazy (director and managing director)
  • Board composition, Anja Verbeke (director)
  • Board composition, Emmanuel Foy (director)
  • Board composition, Philippe Lodomez (director)
  • Board composition, Mario Ricard (director)

Open the act in the Belgian Official Gazette

20-09
Gazette deed Powers of attorney: Hendrik Deforce, Jean-Michel Heusdens and Philippe Lodomez
4 points ▸
  • Board meeting, 01-08-2011
  • Power of attorney, Hendrik Deforce
  • Power of attorney, Jean-Michel Heusdens
  • Power of attorney, Philippe Lodomez

Open the act in the Belgian Official Gazette

23-02
Gazette deed Resignation: Christian De Vos (director)
Appointments: Philippe Lodomez (director) and Mario Ricard (director) · Permanent representative: Philippe Lodomez · Mandate compensation12 points ▸
  • General meeting, 16-12-2010
  • Director resignation, Christian De Vos (director)
  • Director appointment, Philippe Lodomez (director)
  • Mandate compensation, Philippe Lodomez
  • Director appointment, Mario Ricard (director)
  • Mandate compensation, Mario Ricard
  • Board composition, Renaud Mazy (director)
  • Board composition, Anja Verbeke (director)
  • Board composition, Emmanuel Foy (director)
  • Board composition, Philippe Lodomez (director)
  • Board composition, Mario Ricard (director)
  • Permanent representative, Philippe Lodomez

Open the act in the Belgian Official Gazette

2010
16-11
Gazette deed Resignation: Mario Ricard (director)
Appointment: Emmanuel Foy (director)7 points ▸
  • General meeting, 15-10-2010
  • Director resignation, Mario Ricard (director)
  • Director appointment, Emmanuel Foy (director)
  • Board composition, Christian De Vos (director)
  • Board composition, Renaud Mazy (director)
  • Board composition, Anja Verbeke (director)
  • Board composition, Emmanuel Foy (director)

Open the act in the Belgian Official Gazette

02-09
Gazette deed Reappointment: SCCRL PricewaterhouseCoopers Reviseurs d'Entreprises (statutory auditor)
Permanent representative: Raynald Vermoesen3 points ▸
  • General meeting, 17-06-2010
  • Auditor reappointment, SCCRL PricewaterhouseCoopers Reviseurs d'Entreprises
  • Permanent representative, Raynald Vermoesen

Open the act in the Belgian Official Gazette

19-05
Gazette deed Resignation: Pierre Destexhe (director)
Appointment: Anja Verbeke (director) · Permanent representative: Christian De Vos8 points ▸
  • General meeting, 03-05-2010
  • Director resignation, Pierre Destexhe (director)
  • Director appointment, Anja Verbeke (director)
  • Board composition, Christian De Vos (director)
  • Board composition, Renaud Mazy (director)
  • Board composition, Mario Ricard (director)
  • Board composition, Anja Verbeke (director)
  • Permanent representative, Christian De Vos (administrateur de groupe a de baxter pension fund belgium)

Open the act in the Belgian Official Gazette

19-05
Gazette deed Resignation: Anne Vissenackens (director)
Permanent representative: Mario Ricard7 points ▸
  • General meeting, 12-03-2010
  • Director resignation, Anne Vissenackens (director)
  • Board composition, Pierre Destexhe (director)
  • Board composition, Christian De Vos (director)
  • Board composition, Renaud Mazy (director)
  • Board composition, Mario Ricard (director)
  • Permanent representative, Mario Ricard

Open the act in the Belgian Official Gazette

2008
27-08
Gazette deed Reappointments: Pierre Destexhe, Renaud Mazy and Christan De Vos
Resignations: Vinciane Verbiest (director) and Paul Van de Velde (director) · Appointment: Anne Vissenackens (director) · Permanent representative: Anne Vissenackens9 points ▸
  • General meeting, 19-06-2008
  • Director reappointment, Pierre Destexhe (director)
  • Director reappointment, Renaud Mazy (director)
  • Director reappointment, Christan De Vos (director)
  • Director resignation, Vinciane Verbiest (director)
  • Director resignation, Paul Van de Velde (director)
  • Director appointment, Anne Vissenackens (director)
  • Permanent representative, Anne Vissenackens
  • Mandate compensation, BAXTER

Open the act in the Belgian Official Gazette

2005
22-09
Gazette deed Appointment: Dominique Cotteaux (managing director)
2 points ▸
  • Board meeting, 19-08-2005
  • Director appointment, Dominique Cotteaux (managing director)

Open the act in the Belgian Official Gazette

05-08
Gazette deed Appointment: Dominique Cotteaux (director)
Mandate compensation7 points ▸
  • General meeting, 16-06-2005
  • Director appointment, Dominique Cotteaux (director)
  • Board composition, Pierre Destexhe (director)
  • Board composition, Christian De Vos (director)
  • Board composition, Vinciane Verbiest (director)
  • Board composition, Dominique Cotteaux (director)
  • Mandate compensation, Baxter

Open the act in the Belgian Official Gazette

Show all 72 filings

Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.

Sources:Publications in the Belgian Official GazetteFilings with the National Bank

History

BAXTER was incorporated on 1 January 1968.1 The board currently has 5 members. Frédéric Yannart has served longest, since 2021.2 Turnover grew from €79.8m in 2018 to €106.6m in 2025 and headcount from 834 to 901 full-time equivalents.3

  1. 1KBO register
  2. 2National Bank, annual accounts 2025
  3. 3National Bank, annual accounts 2018 and 2025

Company details

Register details

Identity

KBO record
Name BAXTER in French
Enterprise number 0403.093.693
Legal form Public limited company
Status Active, normale toestand
Founded 01-01-1968
Entity type Legal entity

Registered office and establishments

Registered office Boulevard René Branquart(L) 80, 7860 Lessines, Belgium
Establishment units BAXTER, Boulevard René Branquart(L) 80, 7860 Lessines since 01-06-1970 · unit number 2.105.442.804
Medical Products, Boulevard René Branquart(L) 80, 7860 Lessines since 21-12-2012 · unit number 2.215.045.973

Activities

NACEBEL 2025
VAT activities
21201 Manufacture of basic pharmaceutical products and pharmaceutical preparations main activity
Social security (RSZ) activities
21201 Manufacture of basic pharmaceutical products and pharmaceutical preparations main activity
Codes under NACEBEL 2008
VAT activities
21201 Manufacture of basic pharmaceutical products and pharmaceutical preparations main activity
Social security (RSZ) activities
21201 Manufacture of basic pharmaceutical products and pharmaceutical preparations main activity
Codes under NACEBEL 2003
VAT activities
24421 main activity
Social security (RSZ) activities
24421 main activity
Joint committees 116 Paritair Comité voor de scheikundige nijverheid
207 Paritair Comité voor de bedienden uit de scheikundige nijverheid annual accounts 2025
PurposeThe purpose describes the activities the company may carry out under its articles.
“La société a pour objet de faire, pour son compte ou pour compte de tiers, la fabrication, la préparation, le conditionnement, le commerce…”
Text of the purpose

“La société a pour objet de faire, pour son compte ou pour compte de tiers, la fabrication, la préparation, le conditionnement, le commerce et l'exploitation de tous produits, spécialités, articles et accessoires destinés à l'usage pharmaceutique, thérapeutique, diététique, chirurgical, de tous instruments de chirurgie, de tous produits chimiques, de tous articles d'hygiène, de parfumerie et de droguerie, ainsi que toutes études, recherches et analyses y relatives.”

deed of 24-08-2021 (in French)

Invoicing and payment

VAT number BE 0403.093.693
E-invoicing via Peppol
Reachable via Peppol
Peppol ID 0208:0403093693
Registered 30-01-2026

Follow this company and you will hear the next morning if it leaves the Peppol register.

Register as of 2 November 2026 · Peppol Directory

Financial year and general meeting

Accounts at the NBB
Financial year end 31-12

Sites & property

Location
registered office establishment All 2 establishment units on the map

Buildings and parcels at the address

Ground area
9.3 ha
Building footprint
4.0 ha
Building volume
68,672 m³
Cadastral parcel Region Area Buildings Height / floors
55023C0872/00Y000 Wallonia 9.3 ha 1 · 4.0 ha 15.5 m

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