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CIPAL

Active
Public limited companyfounded 1990active for 35 yearsCipalstraat 3, 2440 Geel, Belgium12 active companies are registered at this addressKBO/BCE: BE 0442.802.030
Summary

CIPAL has been active since 1990 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €62.7m and a net result of €101.4m. Equity is growing by about 10% per year across the filed financial years. Its solvency ranks better than 62% of 1,674 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysisFollow ReportCompare
CIPALActiveChecked score 91/100
Risk analysis ReportCompare

Directors

Directors
8 directors, 1 in day-to-day management, no change since 2026

Board 8

Johan Sauwens
Chair of the board · since 01-09-2026 · Director · since 21-10-2025
Current
Jos Geuens
Vice-chair · since 13-10-2017 · Director · since 07-05-2010
Current
NUTSBEDRIJVEN HOUDSTERMAATSCHAPPIJ
Soort b bestuurder · since 14-01-2022 · Cooperative company · permanent representative: KELCHTERMANS Ludo
Current
Lawrence Vancraeyenest
Director · since 21-10-2025
Current
Nutsbedrijven Houdstermaatschappij CV
Director · since 21-10-2025 · Legal entity · permanent representative: Ludo Kelchtermans
Current
Paul Verbeeck
Director · since 21-10-2025
Current
Maarten Bonnen
Director · since 13-03-2026
Current
VANCRAYENEST Lauwrence
Bestuurder (ondervoorzitter) van de raad van bestuur · since 01-09-2026
Current
6 not recently confirmed
Still in office according to the deeds, but no deed of the last six years confirms the mandate. Mandates like this have often ended since, in a deed we have not read yet.
Geuens Jozef Petrus Corneel Maria
Director · since 29-06-2011
Not recently confirmed
HELSN Ludo Thomas Angele
Director · since 29-06-2011
Not recently confirmed
HOFMANS Lodewijk Jozef Amandus Maria
Director · since 29-06-2011
Not recently confirmed
VAN der WILDT Francy Maria Camille
Director · since 29-06-2011
Not recently confirmed
VUYLSTEKE de Laps Luc Joseph Simon
Director · since 29-06-2011
Not recently confirmed
Wauters Lucien Jean Félix
Director · since 29-06-2011
Not recently confirmed

Day-to-day management 1

Maarten Boonen
Afgevaardigd bestuurder · since 01-01-2026
Current

Permanent representatives 1

Ludo Kelchtermans
Permanent representative · since 21-10-2025 · for Nutsbedrijven Houdstermaatschappij CV
Current

Statutory auditor 1

Moore Audit
Statutory auditor · since 19-06-2020
Current
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ. See the directors and other office holders in the KBO →

Mandate history

34 people since 2005, 16 in office
Show
  • Board
  • Day-to-day management
  • Statutory auditor
  • Other function
  • not recently confirmed
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
Jos Geuens
  • Director, since before 07-05-2010
  • Vice-chair, from 13-10-2017 not ended, last confirmed 20-12-2017
Paul Verbeeck
  • Director, from 21-12-2021 to date
NUTSBEDRIJVEN HOUDSTERMAATSCHAPPIJ
  • Soort b bestuurder, from 14-01-2022 to date
Johan Sauwens
  • Director, from 21-10-2025 to date
  • Chair of the board, from 01-09-2026 to date
Lawrence Vancraeyenest
  • Director, since before 21-10-2025
Nutsbedrijven Houdstermaatschappij CV
  • Director, since before 21-10-2025
Maarten Bonnen
  • Director, from 13-03-2026 to date
VANCRAYENEST Lauwrence
  • Bestuurder (ondervoorzitter) van de raad van bestuur, from 01-09-2026 to date
Maarten Boonen
  • Afgevaardigd bestuurder, from 01-01-2026 to date
Moore Audit
  • Statutory auditor, from 19-06-2020 to date
Geuens Jozef Petrus Corneel Maria
  • Director, from before 29-06-2011 not ended, last confirmed 14-07-2017
HELSN Ludo Thomas Angele
  • Director, from before 29-06-2011 not ended, last confirmed 19-07-2011
HOFMANS Lodewijk Jozef Amandus Maria
  • Director, from before 29-06-2011 not ended, last confirmed 19-07-2011
VAN der WILDT Francy Maria Camille
  • Director, from before 29-06-2011 not ended, last confirmed 19-07-2011
VUYLSTEKE de Laps Luc Joseph Simon
  • Director, from before 29-06-2011 not ended, last confirmed 19-07-2011
Wauters Lucien Jean Félix
  • Director, from before 29-06-2011 not ended, last confirmed 14-07-2017
Claessens Jos
  • Director, from 23-06-2017 to 21-10-2025
Jozef Geuens
  • Director, until 21-10-2025
Ludo Helsen
  • Chair, from 01-06-2007 ended, last mentioned 20-12-2017
  • Director, from before 07-05-2010 to 21-10-2025
Marc Vandeput
  • Director, from 04-05-2007 to 21-10-2025
  • Vice-chair, from 01-06-2007 ended, last mentioned 20-12-2017
Weyns Katelijne
  • Director, from 23-06-2017 to 21-10-2025
Nico Leo CRAS
  • Beheerder directeur generaal, from 21-01-2011 ended, last mentioned 20-12-2017
  • Director, from 09-02-2011 to 19-06-2025
Wim Dries
  • Director, from 17-02-2020 to 21-12-2021
Burg. BVBA Boudewijn Van Ussel - C° Bedrijfsrevisoren
  • Auditor, from 05-05-2008 to 19-06-2020
Wauters Lucien
  • Secretary, from 01-06-2007 ended, last mentioned 15-09-2011
  • Director, from before 07-05-2010 to 17-02-2020
Hofmans Lode
  • Director, from 04-05-2007 to 19-06-2015
  • Vice-chair, from 01-06-2007 ended, last mentioned 15-09-2011
Luc Vuylsteke de Laps
  • Director, from 04-05-2007 to 02-05-2014
VAN DER WILDT Francy
  • Director, from 04-05-2007 to 15-10-2013
  • Vice-chair, from 01-06-2007 ended, last mentioned 15-09-2011
  • Director and vice-chair, until 13-12-2013
MANAP
  • Director, from 05-05-2008 to 09-02-2011
  • Bestuurder directeur generaal, from 16-05-2008 ended, last mentioned 27-06-2008
Philips Arthur
  • Bestuurder directeur generaal, from 01-06-2007 to 21-01-2011
  • Director, until 05-05-2008
Ernst & Young Bedrijfsrevisoren BCVBA
  • Auditor, from 06-03-2005 to 05-05-2008
Paulis Guy
  • Director, until 04-05-2007
Stevens Leo
  • Director, until 04-05-2007
Thys Edgar
  • Director, until 04-05-2007
See the board, name and registered office on a given date →

Owners and capital

Owners

3 owners

Chain of control

  1. C-smart 90%
  2. CIPAL

Highest known parent: C-smart. The sources do not say who stands above it.

Owners 3

According to the 2025 annual accounts of CIPAL and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.

Capital and shareholders

Capital over the years
  1. 06-01-2022 Capital increase of €6,500,000 · to €15,003,000 · in kind
  2. 07-01-2014 Capital increase of €5,500,000 · to €8,503,000 · 31,377 new shares
  3. 19-07-2011 Capital increase of €2,600,000 · to €3,003,000 · 14,482 new shares · in kind
  4. 01-03-2011 Capital stated in the deed · €403,000

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