MIDOX (0474.751.355): financials and annual accounts

MIDOX

Antwerp ·KBO/BCE: BE 0474.751.355

Line	2025	2024	2023	2022	2020	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	1.7m	3.5m	4.0m	4.4m	2.6m	2.1m	958,220	1.0m	1.1m	1.2m	1.3m	1.3m	1.4m	1.4m	1.5m	1.7m	1.7m	1.7m
Fixed assets`21/28`	150,742	2.0m	2.0m	2.0m	1.4m	570,022	587,986	632,022	676,058	722,079	777,535	808,785	888,378	941,616	1.0m	1.1m	1.2m	1.2m
Tangible fixed assets`22/27`	150,742	2.0m	2.0m	2.0m	1.4m	570,022	587,986	632,022	676,058	722,079	777,535	808,785	888,378	941,616	1.0m	1.1m	1.2m	1.2m
Land and buildings`22`	150,742	2.0m	2.0m	2.0m	1.2m	556,297	518,411	543,629	568,847	594,065	619,282	632,872	661,618	690,365	719,112	747,859	776,606	805,352
Plant, machinery and equipment`23`	-	-	-	-	186,678	4,493	68,325	85,893	103,461	120,161	142,546	151,871	183,690	216,931	264,293	309,269	356,961	391,961
Furniture and vehicles`24`	-	-	-	-	22,015	9,232	1,250	2,500	3,750	7,853	15,707	24,042	43,070	34,320	56,296	76,426	38,739	5,334
Current assets`29/58`	1.6m	1.6m	2.1m	2.4m	1.2m	1.5m	370,234	393,990	398,324	431,317	503,908	504,103	535,794	487,500	428,706	538,609	509,912	449,617
Stocks and contracts in progress`3`	-	-	-	-	261,967	6,488	166,676	169,376	167,799	162,320	165,146	166,229	161,532	146,084	134,369	162,983	127,515	152,240
Stocks`30/36`	-	-	-	-	261,967	6,488	166,676	169,376	167,799	162,320	165,146	166,229	161,532	146,084	134,369	162,983	127,515	152,240
Amounts receivable within one year`40/41`	1,609	25,063	501,443	537,088	331,931	977,338	24,196	18,300	31,025	21,099	14,127	14,202	14,491	5,733	2,096	14,639	6,301	4,224
Trade receivables`40`	-	23,602	-	1,438	41,377	71,072	18,159	18,051	19,913	11,928	3,306	695	6,776	3,200	-	1,328	73	2,291
Other amounts receivable`41`	1,609	1,461	501,443	535,650	290,554	906,266	6,037	249	11,112	9,171	10,821	13,507	7,715	2,533	2,096	13,311	6,228	1,933
Current investments`50/53`	1.5m	1.5m	1.5m	1.5m	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash at bank and in hand`54/58`	50,886	45,602	32,956	348,706	601,684	519,846	178,866	203,681	196,505	244,561	322,257	319,770	355,895	331,850	288,574	355,641	368,589	288,450
Deferred charges and accrued income`490/1`	-	-	-	4,340	3,174	-	496	2,633	2,995	3,337	2,378	3,902	3,876	3,833	3,667	5,346	7,507	4,703
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	1.7m	3.5m	4.0m	4.4m	2.6m	2.1m	958,220	1.0m	1.1m	1.2m	1.3m	1.3m	1.4m	1.4m	1.5m	1.7m	1.7m	1.7m
Equity`10/15`	1.2m	1.1m	1.1m	1.1m	274,326	330,473	309,623	275,604	248,510	284,049	323,700	315,000	351,612	323,788	295,625	265,470	229,711	205,707
Contributions`10/11`	187,500	187,500	187,500	187,500	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000
Capital`10`	187,500	187,500	187,500	187,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issued capital`100`	187,500	187,500	187,500	187,500	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000	125,000
Reserves`13`	1.1m	959,458	900,303	888,163	149,326	205,473	226,612	226,612	226,612	226,612	226,612	226,612	226,612	198,788	170,625	140,470	104,711	80,707
Non-distributable reserves`130/1`	18,750	18,750	18,750	18,750	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	18,750	18,750	18,750	18,750	12,500	12,500	12,500	12,500	12,500	12,500	12,500	12,500	12,500	12,500	12,500	12,500	12,500	12,500
Tax-exempt reserves`132`	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributable reserves`133`	1.0m	940,708	881,553	869,413	136,826	192,973	214,112	214,112	214,112	214,112	214,112	214,112	214,112	186,288	158,125	127,970	92,211	68,207
Profit (loss) carried forward`14`	-	-	-	-	-	-	-41,989	-76,008	-103,102	-67,563	-27,912	-36,612	-	-	-	-	-	-
Amounts payable`17/49`	485,252	2.4m	2.9m	3.3m	2.3m	1.7m	648,597	750,408	825,872	869,347	957,743	997,888	1.1m	1.1m	1.2m	1.4m	1.5m	1.5m
Amounts payable after more than one year`17`	180,475	2.2m	2.2m	186,813	1.0m	1.2m	275,992	342,760	405,771	467,017	531,824	596,036	659,785	701,410	759,465	852,181	901,964	968,275
Financial debts`170/4`	127,669	147,790	167,302	186,813	1.0m	1.2m	275,992	342,760	405,771	467,017	531,824	596,036	659,785	701,410	759,465	852,181	901,964	968,275
Other amounts payable`178/9`	52,806	2.1m	2.0m	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amounts payable within one year`42/48`	304,777	198,769	728,701	3.1m	1.1m	338,149	371,860	405,679	418,593	395,492	420,433	399,571	408,572	395,535	411,072	550,387	555,619	488,578
Current portion of amounts payable after more than one year`42`	25,903	24,063	22,014	19,225	90,569	23,993	66,418	63,012	61,246	64,807	64,212	66,035	68,142	60,614	95,282	94,837	85,910	74,216
Financial debts`43`	-	-	600,000	1.0m	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Credit institutions`430/8`	-	-	600,000	1.0m	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Trade debts`44`	204,465	19,009	13,948	4,425	613,145	239,525	255,458	282,416	295,761	280,835	298,900	278,422	282,503	275,352	259,229	393,651	411,006	361,220
Suppliers`440/4`	204,465	19,009	13,948	4,425	613,145	239,525	255,458	282,416	295,761	280,835	298,900	278,422	282,503	275,352	259,229	393,651	411,006	361,220
Taxes, remuneration and social security`45`	50,112	31,457	92,664	85,497	87,008	70,701	37,030	50,297	54,633	43,976	51,223	48,595	51,016	51,203	48,075	47,273	41,405	36,145
Taxes`450/3`	50,112	31,457	92,664	79,451	27,149	58,056	796	230	257	62	808	-	4,198	3,371	1,709	6,162	446	-
Remuneration and social security`454/9`	-	-	-	6,046	59,859	12,645	36,234	50,067	54,376	43,914	50,415	48,595	46,818	47,832	46,366	41,111	40,959	36,145
Other amounts payable`47/48`	24,297	124,240	75	2.0m	293,930	3,930	12,954	9,954	6,953	5,874	6,098	6,519	6,911	8,366	8,486	14,626	17,298	16,997
Accrued charges and deferred income`492/3`	-	2,000	12,666	-	206,250	248,995	745	1,969	1,508	6,838	5,486	2,281	4,203	8,383	2,245	4,125	1,484	2,824
Income statement
Turnover`70`	-	-	-	-	-	-	3.0m	3.0m	3.0m	3.0m	3.1m	3.1m	3.4m	3.4m	3.4m	3.4m	3.3m	3.2m
Non-recurring operating income`76A`	-	-	-	-	-	-	-	-	413	-	-	-	1,142	-	-	6,663	-	-
Gross operating margin`9900`	163,733	169,039	188,629	436,697	797,520	256,121	312,222	352,825	320,774	270,990	357,156	350,974	434,738	439,043	438,919	397,628	404,250	372,403
Goods, raw materials, services and sundry goods`60/61`	-	-	-	-	-	-	2.7m	2.6m	2.6m	2.7m	2.7m	2.7m	3.0m	3.0m	3.0m	3.0m	2.9m	2.8m
Remuneration, social security and pensions`62`	623	-	39,687	331,923	293,908	163,676	204,579	248,187	266,114	219,498	253,927	239,839	240,114	240,103	232,027	189,284	202,794	170,521
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	1,916	1,916	1,916	21,060	178,420	44,110	44,036	44,036	54,925	55,456	56,616	97,993	98,828	100,059	99,768	98,711	97,818	88,245
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,102
Other operating charges`640/8`	23,600	17,803	42,645	92,311	37,329	11,480	10,385	12,128	13,328	11,791	11,033	12,086	12,626	11,136	15,185	9,730	8,056	-
Non-recurring operating charges`66A`	-	-	-	31,271	-	-	-	-	-	-	-	-	-	-	-	-	1,252	-
Operating profit (loss)`9901`	137,594	149,320	104,381	-39,868	287,863	36,855	53,222	48,474	-13,593	-15,755	35,580	1,056	83,170	87,745	91,939	99,903	95,582	105,535
Financial income`75/76B`	829	-	-	2.1m	33	2	70	90	274	939	1,837	2,937	3,210	2,786	3,354	4,053	2,983	2,053
Recurring financial income`75`	829	-	-	101	33	2	70	90	274	939	1,837	2,937	3,210	2,786	3,354	4,053	2,983	2,053
Non-recurring financial income`76B`	-	-	-	2.1m	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Financial charges`65/66B`	7,415	69,107	85,474	49,065	31,366	15,717	18,686	21,224	22,396	24,616	28,485	40,357	46,681	50,288	52,926	58,091	65,185	69,278
Recurring financial charges`65`	7,415	69,107	85,474	49,065	31,366	15,717	18,686	21,224	22,396	24,616	28,485	40,357	46,681	50,288	52,926	58,091	65,185	69,278
Profit (loss) for the period before taxes`9903`	131,008	80,213	18,907	2.0m	256,530	21,140	34,606	27,340	-35,302	-39,432	8,932	-36,364	40,841	40,243	42,367	52,528	32,128	38,310
Transfer from deferred taxes`780`	-	-	-	86,250	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes`67/77`	34,981	21,058	6,767	78,157	22,677	291	587	246	237	219	232	248	13,017	12,080	12,212	16,769	8,124	8,930
Profit (loss) for the period`9904`	96,027	59,155	12,140	2.0m	233,853	20,849	34,019	27,094	-35,539	-39,651	8,700	-36,612	27,824	28,163	30,155	35,759	24,004	29,380
Transfer from tax-exempt reserves`789`	-	-	-	258,750	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to tax-exempt reserves`689`	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) for the period to be appropriated`9905`	96,027	59,155	12,140	2.3m	233,853	20,849	34,019	27,094	-35,539	-39,651	8,700	-36,612	27,824	28,163	30,155	35,759	24,004	29,380
Appropriation of the result
Profit (loss) to be appropriated`9906`	96,027	59,155	12,140	2.3m	233,853	-21,140	-41,989	-76,008	-103,102	-67,563	-27,912	-36,612	27,824	28,163	30,155	35,759	24,004	29,380
Transfer from equity`791/2`	-	-	-	-	56,147	21,140	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	96,027	59,155	12,140	280,454	-	-	-	-	-	-	-	-	27,824	28,163	30,155	35,759	24,004	29,380
To other reserves`6921`	96,027	59,155	12,140	280,454	-	-	-	-	-	-	-	-	27,824	28,163	30,155	35,759	24,004	29,380
Profit to be distributed`694/7`	-	-	-	2.0m	290,000	-	-	-	-	-	-	-	-	-	-	-	-	-
Return on contributions (dividend)`694`	-	-	-	-	290,000	-	-	-	-	-	-	-	-	-	-	-	-	-
Directors or managers`695`	-	-	-	2.0m	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	-	-	1	5.3	6.6	6.6	6.6	8.1	9.4	8.5	9.1	8.9	7.9	7.8	7.9	6.8	6.8	7
Hours worked`1013`	-	-	1,340	11,789	11,461	11,461	11,461	14,060	15,096	11,874	13,890	13,473	13,200	12,677	12,992	10,706	12,136	10,323
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Financial year	Type	Filed	Reference	Document
31-12-2025	full format	29-08-2026	2026-00451320	PDF
31-12-2024	abbreviated format	31-08-2025	2025-00453534	PDF
31-12-2023	abbreviated format	08-11-2024	2024-00531207	PDF
31-12-2022	abbreviated format	11-11-2023	2023-00510282	PDF
30-06-2020	abbreviated format	29-01-2021	2021-04600096	PDF
31-12-2018	abbreviated format	21-08-2019	2019-48700148	PDF
31-12-2017	abbreviated format	17-08-2018	2018-47200054	PDF
31-12-2016	abbreviated format	22-08-2017	2017-46600005	PDF
31-12-2015	abbreviated format	21-09-2016	2016-60700243	PDF
31-12-2014	abbreviated format	28-09-2015	2015-61300596	PDF
31-12-2013	abbreviated format	10-10-2014	2014-64600297	PDF
31-12-2012	abbreviated format	26-11-2013	2013-67200276	PDF
31-12-2011	abbreviated format	28-08-2012	2012-50000488	PDF
31-12-2010	abbreviated format	21-09-2011	2011-55300494	PDF
31-12-2009	abbreviated format	08-10-2010	2010-57700294	PDF
31-12-2008	abbreviated format	21-08-2009	2009-62200011	PDF
31-12-2007	abbreviated format	28-08-2008	2008-71500140	PDF
31-12-2006	abbreviated format	22-08-2007	2007-61600001	PDF
31-12-2005	abbreviated format	20-06-2006	2006-27804405	PDF
31-12-2004	abbreviated format	29-09-2005	2005-76202780	PDF
31-12-2003	abbreviated format	26-11-2004	2004-81303517	PDF
31-12-2002	abbreviated format	14-11-2003	2003-79104253	PDF

Line	2025	2024	2023	2022	2020	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
EBITDA	139,510	151,236	106,297	-18,808	466,283	80,965	97,258	92,510	41,332	39,701	92,196	99,049	181,998	187,804	191,707	198,614	193,400	193,780
Cash flow	97,943	61,071	14,056	2.0m	412,273	64,959	78,055	71,130	19,386	15,805	65,316	61,381	126,652	128,222	129,923	134,470	121,822	117,625
Investment in fixed assets (approximation)	-1.8m	1	0	1.8m	995,752	26,146	0	0	8,904	0	25,366	18,400	54,448	1,974	5,915	59,959	65,475	619
Change in cash	5,284	12,646	-315,750	-	-	340,980	-24,815	7,176	-48,056	-77,696	2,487	-36,125	24,045	43,276	-67,067	-12,948	80,139	-
Working capital	1.3m	1.4m	1.3m	-694,013	114,104	1.2m	-1,626	-11,689	-20,269	35,825	83,475	104,532	127,222	91,965	17,634	-11,778	-45,707	-38,961
EBIT margin	-	-	-	-	-	-	1.8%	1.6%	-0.5%	-0.5%	1.2%	0.0%	2.4%	2.5%	2.7%	3.0%	2.9%	3.3%
Solvency	71.9%	32.3%	27.1%	24.6%	10.6%	15.9%	32.3%	26.9%	23.1%	24.6%	25.3%	24.0%	24.7%	22.7%	20.1%	15.9%	13.6%	12.4%
Current ratio	5.18	8.03	2.83	0.78	1.11	4.45	1.00	0.97	0.95	1.09	1.20	1.26	1.31	1.23	1.04	0.98	0.92	0.92
Quick ratio	5.18	8.03	2.83	0.78	0.86	4.43	0.55	0.55	0.55	0.68	0.81	0.85	0.92	0.86	0.72	0.68	0.69	0.61
Debt to equity	0.39	2.09	2.69	3.06	8.43	5.27	2.09	2.72	3.32	3.06	2.96	3.17	3.05	3.41	3.97	5.30	6.35	7.10
ROE	7.7%	5.2%	1.1%	187.9%	85.2%	6.3%	11.0%	9.8%	-14.3%	-14.0%	2.7%	-11.6%	7.9%	8.7%	10.2%	13.5%	10.4%	14.3%
ROA	5.6%	1.7%	0.3%	46.2%	9.0%	1.0%	3.6%	2.6%	-3.3%	-3.4%	0.7%	-2.8%	2.0%	2.0%	2.1%	2.1%	1.4%	1.8%
Interest coverage	18.81	2.19	1.24	-0.38	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Customer credit	-	-	-	-	-	-	2 days	2 days	2 days	1 day	0 days	0 days	1 day	0 days	0 days	0 days	0 days	0 days
Supplier credit	-	-	-	-	-	-	35 days	39 days	41 days	38 days	40 days	37 days	34 days	33 days	32 days	48 days	51 days	47 days

Item	31-12-2023	31-12-2022
Employees at the balance-sheet date	1	2
full-time	1	2
part-time	-	0
in full-time equivalents	1	2
Average over the year, in full-time equivalents	1	5.3
On a permanent contract	1	2
Joined	0	3
Left	1	12
Training hours	-	8

Item	2025	2024	2023	2022
Debts secured on the company's own assets	€294,854	€294,854	€342,410	€342,410
Mortgages, amount registered	€342,410	€342,410	€342,410	€342,410
Carrying value of the mortgaged assets	€150,742	€342,410	€342,410	€342,410

MIDOX

Annual accounts 2025

Money flows

Balance sheet

Change in equityin €m

Change in cashin €m

Position in the sector

Solvency71.9%

Current ratio5.18

Return on assets5.6%

Staff

Staff cost per FTE

Joined and left

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Securities and guarantees

Investments

Insights on MIDOX

Next steps

Item	2025	2024	2023	2022
Tangible fixed assets	-	-	-	€1.8m
Depreciation and write-downs of the year	€1,916	€1,916	€1,916	€21,060