Culligan Belgium
ActiveSummary
Culligan Belgium has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.47M and a net result of €1.05M. Equity is growing by ~47.2% per year across the filed fiscal years. Its solvency ranks better than 24% of 85 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
60
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability76▼-5
Solvency34▲+3
Growth85▲+4
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €380k at 30 days acceptable
Liquidity short (current ratio 0.48 against 1.0 in 2024; short-term debt: 29.9% and cash: 0.5% of total assets), and 91.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
8.8%
Return on assets
1.4%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 11
Relative position
BE, all sectors
reference
Sector 11
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 85 sector peers (2025).
NBB · sector comparisonPosition among 85 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-08-2026, 10 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
10 d late
2024
34 d late
2023
78 d late
2022
87 d late
2021
102 d late
2020
16 d early
2019
8 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€45.13M▲ 111%
2024 · €21.39M
2021: €13.41M
2022: €15.67M
2023: €19.67M
2024: €21.39M
2021 → 2025
EBIT margin
13.5%▲ 0.3pp
2024 · 13.2%
2021: 10.4%
2022: 13.5%
2023: 10.9%
2024: 13.2%
2021 → 2025
Net result
€1.05M▼ 35.6%
2024 · €1.63M
2018: €120k
2019: €189k
2020: €319k
2021: €922k
2022: €1.57M
2023: €1.51M
2024: €1.63M
2018 → 2025
Working capital
€-11.30M▼ 30,427%
2024 · €-37k
2018: €362k
2019: €452k
2020: €903k
2021: €-1.49M
2022: €-1.55M
2023: €-2.61M
2024: €-37k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€13.41M-€15.67M▲ 16.8%€19.67M▲ 25.5%€21.39M▲ 8.7%€45.13M▲ 111%
Equity€2.19M-€2.06M▼ 5.9%€3.56M▲ 73.2%€5.19M▲ 45.7%€6.47M▲ 24.6%
Operating result€1.40M-€2.12M▲ 51.3%€2.14M▲ 1.2%€2.82M▲ 31.8%€6.11M▲ 116%
Net result€922k-€1.57M▲ 69.9%€1.51M▼ 3.9%€1.63M▲ 8.1%€1.05M▼ 35.6%
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 116% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €73.15M
Fixed assets
€62.61M ▼ 10.3%
Current assets
€10.54M ▼ 3.1%
Equity and liabilities €73.15M
Equity
€6.47M ▲ 24.6%
Provisions
€380k ▲ 141%
Debt
€66.30M ▼ 12.0%
Debt's share of the balance-sheet total falls from 93.4% to 90.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€15.43M▲
2024 · €5.82M
Cash flow
€10.37M▲
2024 · €4.62M
Current ratio
0.48▼
2024 · 1.00
Quick ratio
0.41▼
2024 · 0.91
Debt to equity
10.24▼
2024 · 14.50
ROE
16.2%▼
2024 · 31.4%
ROA
1.4%▼
2024 · 2.0%
Interest coverage
5.14▼
2024 · 18.70
Debt ≤ 1 year
€21.84M▲
2024 · €10.92M
Debt > 1 year
€37.34M▼
2024 · €58.44M
Income taxes
€1.90M▲
2024 · €927k
Staff costs
€13.68M▲
2024 · €6.39M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 104 lines
Balance sheet
Code20242025
Assets
Total assets20/58€80.67M€73.15M▼
Fixed assets21/28€69.79M€62.61M▼
Intangible fixed assets21€1.76M€45.88M▲
Tangible fixed assets22/27€9.39M€16.44M▲
Land and buildings22€61k€314k▲
Plant, machinery and equipment23€9.02M€11.65M▲
Furniture and vehicles24€128k€245k▲
Leasing and similar rights25€6k€0▼
Other tangible fixed assets26€171k€4.22M▲
Assets under construction and advance payments27-€16k
Financial fixed assets28€58.64M€294k▼
Affiliated companies280/1€58.44M€127k▼
Participating interests280€58.44M€127k▼
Amounts receivable281€0-
Other financial fixed assets284/8€194k€167k▼
Shares284€0-
Amounts receivable and cash guarantees285/8€194k€167k▼
Current assets29/58€10.88M€10.54M▼
Amounts receivable after more than one year29€0-
Trade receivables290€0-
Other amounts receivable291€0-
Stocks and contracts in progress3€956k€1.54M▲
Stocks30/36€956k€1.54M▲
Raw materials and consumables30/31€420k€420k=
Goods purchased for resale34€312k€810k▲
Advance payments36€224k€313k▲
Amounts receivable within one year40/41€9.69M€8.27M▼
Trade receivables40€4.68M€6.60M▲
Other amounts receivable41€5.01M€1.66M▼
Cash at bank and in hand54/58€69k€381k▲
Deferred charges and accrued income490/1€172k€349k▲
Equity and liabilities
Total equity and liabilities10/49€80.67M€73.15M▼
Equity10/15€5.19M€6.47M▲
Contributions10/11€449k€449k=
Capital10€431k€431k=
Issued capital100€431k€431k=
Uncalled capital101€0-
Outside capital11€19k€19k=
Share premium1100/10€0-
Other1109/19€19k€19k=
Reserves13€41k€41k=
Non-distributable reserves130/1€17k€17k=
Legal reserve130€15k€15k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€10k€10k=
Distributable reserves133€14k€14k=
Profit (loss) carried forward14€4.70M€5.98M▲
Provisions and deferred taxes16€158k€380k▲
Provisions for liabilities and charges160/5€158k€380k▲
Pensions and similar obligations160€158k€33k▼
Other liabilities and charges164/5-€347k
Amounts payable17/49€75.32M€66.30M▼
Amounts payable after more than one year17€58.44M€37.34M▼
Financial debts170/4€58.44M€37.34M▼
Other loans174€58.44M€37.34M▼
Amounts payable within one year42/48€10.92M€21.84M▲
Current portion of amounts payable after more than one year42€9k€182k▲
Financial debts43-€0
Credit institutions430/8-€0
Trade debts44€2.70M€4.02M▲
Suppliers440/4€2.70M€4.02M▲
Advances received on contracts in progress46-€77
Taxes, remuneration and social security45€1.33M€2.89M▲
Taxes450/3€620k€1.16M▲
Remuneration and social security454/9€708k€1.74M▲
Other amounts payable47/48€6.89M€14.74M▲
Accrued charges and deferred income492/3€5.96M€7.11M▲
Income statement
Code20242025
Operating income70/76A€21.80M€45.31M▲
Turnover70€21.39M€45.13M▲
Other operating income74€343k€179k▼
Non-recurring operating income76A€64k-
Operating charges60/66A€18.97M€39.20M▲
Goods for resale, raw materials and consumables60€2.39M€2.77M▲
Purchases600/8€2.40M€3.15M▲
Change in stocks: decrease (increase)609€-16k€-386k▼
Services and other goods61€5.08M€12.02M▲
Remuneration, social security and pensions62€6.39M€13.68M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2.99M€9.32M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€34k€41k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€0€-125k▼
Other operating charges640/8€142k€161k▲
Non-recurring operating charges66A€1.94M€1.34M▼
Operating profit (loss)9901€2.82M€6.11M▲
Financial income75/76B€95k€236k▲
Recurring financial income75€95k€236k▲
Income from financial fixed assets750€79k-
Income from current assets751€6€202k▲
Other financial income752/9€16k€34k▲
Non-recurring financial income76B€0-
Financial charges65/66B€362k€3.40M▲
Recurring financial charges65€362k€3.10M▲
Debt charges650€311k€3.00M▲
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651€0-
Other financial charges652/9€51k€99k▲
Non-recurring financial charges66B€0€300k▲
Profit (loss) for the period before taxes9903€2.56M€2.95M▲
Income taxes67/77€927k€1.90M▲
Taxes670/3€927k€2.42M▲
Tax adjustments and reversals of tax provisions77-€521k
Profit (loss) for the period9904€1.63M€1.05M▼
Profit (loss) for the period to be appropriated9905€1.63M€1.05M▼
Appropriation of the result
Profit (loss) to be appropriated9906€4.70M€5.98M▲
Profit (loss) brought forward from the previous period14P€3.07M€4.93M▲
Social balance
Average headcount (FTE)908786.7186.0▲
The notes to these accounts (109 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 10 days late
30-03
State Gazette act
Resignation: Chris Dooms (director)Appointment: Culligan FSHco Inc. (director) · Permanent representative: Frank John Griffith · Mandate compensation6 facts ▸
State Gazette act
Resignation: Chris Dooms (director)
Appointment: Culligan FSHco Inc. (director) · Permanent representative: Frank John Griffith · Mandate compensation6 facts ▸
- Shareholder decision, 13 maart 2026
- Director resignation, Chris Dooms (director)
- Director appointment, Culligan FSHco Inc. (director)
- Permanent representative, Frank John Griffith
- Mandate compensation, Frank John Griffith
- Power of attorney, Lydian BV
20-01
State Gazette act
Capital & shares · RestructuringResignation: Culligan (director) · Appointments: DE BIE Filip (non-statutory director) and DOOMS Chris Emiel Ingrid (non-statutory director) · Merger15 facts ▸
State Gazette act
Capital & shares · Restructuring
Resignation: Culligan (director) · Appointments: DE BIE Filip (non-statutory director) and DOOMS Chris Emiel Ingrid (non-statutory director) · Merger15 facts ▸
- General meeting, 19-12-2025
- Merger, absorption, 01-01-2026
- Merger, quasi-merger, 01-01-2026
- Capital increase, €5.503.236,25
- Share cancellation, 8396, eigen aandelen verkregen ingevolge de fusie door overneming
- Capital decrease, €4.420.487,75
- Capital, €1.531.869,25
- Purpose change, De vennootschap heeft tot voorwerp, zowel in eigen naam als voor rekening van derden: de groot- en kleinhandel, de productie en assemblage, de in- en uitvoer, d…
- Director resignation, Culligan (director)
- Director appointment, DE BIE Filip (non-statutory director)
- Director appointment, DOOMS Chris Emiel Ingrid (non-statutory director)
- Mandate compensation, DE BIE Filip
- +3 further facts in this act
2025
03-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 34 days late
2024
31-12
Financial
Highest result since 2018net €1.63M ▲8.1%
Net result €1.63M, the highest in the series.
31-12
Financial
Equity above €5MEq €5.19M ▲45.7%
7 profitable years in a row build equity to €5.19M.
17-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 78 days late
2023
26-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 87 days late
2022
10-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 102 days late
2021
31-12
Financial
Equity above €2MEq €2.19M ▲130%
4 profitable years in a row build equity to €2.19M.
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Equity above €500kEq €632k ▲42.7%
2 profitable years in a row build equity to €632k.
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.An act published in both Dutch and French appears here once.
Directors · office · real estate
Directors
2 directors, no change since 2026
Culligan FSHco Inc.
CurrentDirector · since 10-03-2026 · Legal entity · perm. rep.: Frank John Griffith
DE BIE Filip
CurrentNon-statutory director · since 19-12-2025
10-03-2026
Culligan FSHco Inc.: Appointed as Director
10-03-2026
Culligan FSHco Inc.: Appointed as Director
10-03-2026
DOOMS Chris Emiel Ingrid: Resigned as Director
10-03-2026
DOOMS Chris Emiel Ingrid: Resigned as Director
19-12-2025
DE BIE Filip: Appointed as Non-statutory director
Location & real-estate footprint
Registered office, Londerzeel · 6 establishment units since 1994
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Technologielaan 31840 LonderzeelGround area
4.6 ha
Building footprint
1.2 ha
Volume, LiDAR
61,636 m³
5 parcels, Flanders, Wallonia · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
6 establishment units
Culligan Belgium
since 19942.062.584.343
Culligan Belgium
since 20102.191.237.126
Culligan Belgium
since 20162.252.101.062
Culligan Belgium
since 20162.252.101.854
Culligan Belgium
since 20162.252.102.547
Culligan Belgium
since 20212.313.491.570
5 parcels
Flanders
3
(60%)
Wallonia
2
(40%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23045D0139/00A000 | Flanders | 2.5 ha | 1 · 8,451 m² | 8.0 m · 2 fl. |
| 52332B0504/00M000 | Wallonia | 8,756 m² | 1 · 16 m² | - |
| 36494D0970/00S002 | Flanders | 7,732 m² | 1 · 1,180 m² | 10.2 m |
| 51024A0428/00P000 | Wallonia | 3,459 m² | 1 · 1,342 m² | - |
| 71037C2731/00P000 | Flanders | 1,357 m² | 1 · 863 m² | 8.6 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 4
5 of 5 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Acquisitions and mergers
2 transactionsTook over:Culligan
Took over:Valeco
Capital and shareholders
Capital over the years
- 20-01-2026 Capital increase of 5,503,236.25 EUR · to 5,952,357 EUR · 12,175 new shares
- 20-01-2026 Capital reduction of 4,420,487.75 EUR · to 1,531,869.25 EUR
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 2,335 EUR awarded · 387 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 2,335 EUR | 387 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
5 sitesFleurus2.252.101.854
Izegem2.252.101.062
Londerzeel2.062.584.343
Lummen2.252.102.547
Show 1 more sites
Lummen2.313.491.570
Legal Entity Identifier
984500W76F2B2788YA55
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Of 97 companies in sector 11070 we hold annual accounts for 50. 14 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded12-01-1996
Fiscal year end31-12
Activities, NACEBEL 2025
11070Manufacture of beverages
46349Wholesale of beverages, general range
Sources
Crossroads Bank for EnterprisesNational Bank · 29 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.