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Ontex

Active
Private limited companyfounded 1979active for 47 yearsGenthof 5, 9255 Buggenhout, BelgiumKBO/BCE: BE 0419.457.296
Summary

Ontex has been active since 1979 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €360.1m and a net result of €42.4m. Equity remains stable across the filed financial years (±0.5% per year). Its solvency ranks better than 32% of 95 sector peers (NACE 17, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

Overview

Activity
Manufacture of paper and paper products
NACE 17220
Largest employer in East Flanders, Paper sector3 sites
Size
€1.51bnturnover 2025
Staff
578.9 FTE
Equity
€360.1m
Profit
€42.4m
Financial health
82 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.4%
Structure
Parent
ONTEX GROUP · 100%
Holdings
20
Auditor: Ernst et Young Reviseurs d'EntreprisesAccounts 25 days early6 of 49 deeds read
Why 82raises riskLiquidity: current ratio 0.90, cash €27.2m, halvedSector: Manufacture of paper and paper products (NACE 17)lowers riskSize: turnover €1.51bn, 578.9 FTE, total assets €1.14bnFounded in 1979Show the evidence

Checked score

Score 2025
82 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 38% of its sector peers (NACE 17)
Financial strength · tick = 2024
Average
Solvency 57+8
equity 31.6% of total assets
Liquidity 37-23
short-term debt 35.3% · cash 2.4%
Profitability 42+5
return on assets 3.7%
Bankruptcy probability, 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%

About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (14 companies, NACE 17, large)
Last 24 months 11-2024: 0.2% 12-2024: 0.2%● unchanged vs 11-2024 01-2025: 0.2%● unchanged vs 12-2024 02-2025: 0.2%● unchanged vs 01-2025 03-2025: 0.2%● unchanged vs 02-2025 04-2025: 0.2%● unchanged vs 03-2025 05-2025: 0.2%● unchanged vs 04-2025 06-2025: 0.2%● unchanged vs 05-2025 07-2025: 0.3%▲ +0.1 percentage points vs 06-2025 08-2025: 0.2%▼ -0.1 percentage points vs 07-2025 09-2025: 0.2%● unchanged vs 08-2025 10-2025: 0.2%● unchanged vs 09-2025 11-2025: 0.2%● unchanged vs 10-2025 12-2025: 0.2%● unchanged vs 11-2025 01-2026: 0.2%● unchanged vs 12-2025 02-2026: 0.2%● unchanged vs 01-2026 03-2026: 0.2%● unchanged vs 02-2026 04-2026: 0.2%● unchanged vs 03-2026 05-2026: 0.2%● unchanged vs 04-2026 06-2026: 0.2%● unchanged vs 05-2026lowest value 07-2026: 0.2%● unchanged vs 06-2026 08-2026: 0.4%▲ +0.2 percentage points vs 07-2026highest value 09-2026: 0.4%● unchanged vs 08-2026highest value 10-2026: 0.4%● unchanged vs 09-2026highest value
Credit of up to €29,500,000 on 30-day terms is acceptable
Liquidity insufficient (current ratio 0.9, compared with 1.82 in 2024, below 1; short-term debt: 35.3% and cash: 2.4% of total assets), and 68.4% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 17): better than 33% on solvency, 40% on liquidity, 26% on profitability and 53% on growth.

The bankruptcy probability was computed on 19-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 0.90, cash €27.2m, halved
NBB · annual accounts
lowers risk · Size: turnover €1.51bn, 578.9 FTE, total assets €1.14bn
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · Sector: Manufacture of paper and paper products (NACE 17)
KBO
lowers risk · Founded in 1979
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year €360.1m
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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
25 days early
2024
28 days early
2023
33 days early
2022
31 days early
2021
31 days early
2020
22 days early
2019
39 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 30 days before the deadline; the sector median (NACE 17) for financial year 2024 is 13 days before the deadline, and 35% 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 30 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
20-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Resignation: Chilibri BV (director)Appointment: Stéphane Re (director) ·…
  2. Appointments: Ernst & Young Bedrijfsrevisoren BV…Gazette deed
  3. Annual accounts filedfinancial year 2025 · full…

Financials · financial year 2025, full format

Turnover
€1.51bn▼ 4.3%
2024 · €1.58bn
EBIT margin
3.6%▲ 1.3pp
2024 · 2.3%
Net result
€42.4m▼ 51.4%
2024 · €87.2m
Working capital
-€42.2m
2024 · €255.0m
Trend over the years

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

After the dip in 2022 the operating result has climbed three years in a row; 2025 is 48% above 2024 and is the highest result in the available series.

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Turnover€1,508.2m 2025 Operating result€53.6m 2025 Net result€42.4m 2025

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

Sector: the middle half of NACE 17, Manufacture of paper and paper products: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€1,469.9m-€1,383.5m▼ 5.9%€1,336.7m▼ 3.4%€1,240.9m▼ 7.2%€1,419.6m▲ 14.4%€1,570.1m▲ 10.6%€1,575.3m▲ 0.3%€1,508.2m▼ 4.3%
Operating result€31.5m--€14.3m€20.3m-€12.9m-€39.1m▼ 203%€24.3m€36.3m▲ 49.0%€53.6m▲ 47.9%
Net result€30.7m--€230.6m€66.7mabove the sector's middle half-€108.9mbelow the sector's middle half-€42.3mbelow the sector's middle half▲ 61.2%€80.0mabove the sector's middle half€87.2mabove the sector's middle half▲ 9.0%€42.4mabove the sector's middle half▼ 51.4%
EBIT margin2.1%--1.0%▼ 3.2pp1.5%▲ 2.6pp-1.0%▼ 2.6pp-2.8%▼ 1.7pp1.5%▲ 4.3pp2.3%▲ 0.8pp3.6%▲ 1.3pp
Equity€465.7m-€235.0m▼ 49.5%€301.7mabove the sector's middle half▲ 28.4%€192.8mabove the sector's middle half▼ 36.1%€150.5mabove the sector's middle half▼ 21.9%€230.5mabove the sector's middle half▲ 53.2%€317.8mabove the sector's middle half▲ 37.8%€360.1mabove the sector's middle half▲ 13.3%
Total assets€1,570.0m-€1,317.4m▼ 16.1%€1,605.9mabove the sector's middle half▲ 21.9%€1,207.2mabove the sector's middle half▼ 24.8%€1,227.7mabove the sector's middle half▲ 1.7%€1,195.5mabove the sector's middle half▼ 2.6%€1,320.9mabove the sector's middle half▲ 10.5%€1,140.2mabove the sector's middle half▼ 13.7%
Debt€1,102.1m-€1,077.9m▼ 2.2%€1,303.3m▲ 20.9%€1,014.0m▼ 22.2%€1,076.8m▲ 6.2%€964.5m▼ 10.4%€971.5m▲ 0.7%€768.7m▼ 20.9%
Working capital€72.6m-€48.3m▼ 33.5%€148.6mabove the sector's middle half▲ 208%-€30.5mbelow the sector's middle half-€62.5mbelow the sector's middle half▼ 105%€231.1mabove the sector's middle half€255.0mabove the sector's middle half▲ 10.3%-€42.2mbelow the sector's middle half
Solvency29.7%-17.8%▼ 11.8pp18.8%below the sector's middle half▲ 0.9pp16.0%below the sector's middle half▼ 2.8pp12.3%below the sector's middle half▼ 3.7pp19.3%below the sector's middle half▲ 7.0pp24.1%below the sector's middle half▲ 4.8pp31.6%within the sector's middle half▲ 7.5pp
Current ratio1.21-1.15▼ 0.061.56within the sector's middle half▲ 0.410.91below the sector's middle half▼ 0.650.85below the sector's middle half▼ 0.071.77within the sector's middle half▲ 0.921.82within the sector's middle half▲ 0.050.90below the sector's middle half▼ 0.92
Return on assets (ROA)2.0%--17.5%▼ 19.5pp4.2%within the sector's middle half▲ 21.7pp-9.0%below the sector's middle half▼ 13.2pp-3.4%below the sector's middle half▲ 5.6pp6.7%within the sector's middle half▲ 10.1pp6.6%within the sector's middle half▼ 0.1pp3.7%within the sector's middle half▼ 2.9pp
Staff (FTE)1,225.8-1,188.7▼ 3.0%1,178.4above the sector's middle half▼ 0.9%1,104.2above the sector's middle half▼ 6.3%1,002.7above the sector's middle half▼ 9.2%978.1above the sector's middle half▼ 2.5%908.2above the sector's middle half▼ 7.1%578.9above the sector's middle half▼ 36.3%
above within below the middle half of NACE 17, Manufacture of paper and paper products: a quarter of companies sit below it, a quarter above. Each year compared with 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 €1.14bn
Fixed assets €775.9m ▲ 3.1%
Current assets €360.3m ▼ 36.4%
Equity and liabilities €1.14bn
Equity €360.1m ▲ 13.3%
Provisions €11.4m ▼ 63.9%
Debt €768.7m ▼ 20.9%
Debt's share of the balance-sheet total falls from 73.5% to 67.4%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€63.4m▲
2024 · €44.5m
Cash flow
€52.2m▼
2024 · €95.4m
Quick ratio
0.56▼
2024 · 1.36
Debt to equity
2.13▼
2024 · 3.06
ROE
11.8%▼
2024 · 27.5%
Interest coverage
2.47▲
2024 · 1.48
Debt ≤ 1 year
€402.5m▲
2024 · €311.2m
Debt > 1 year
€358.0m▼
2024 · €648.0m
Income taxes
€927,765▼
2024 · €5.3m
Staff costs
€52.9m▼
2024 · €73.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 92 lines
Balance sheet Code20242025
Assets
Total assets20/58€1,320.9m€1,140.2m▼
Formation expenses20€2.0m€4.0m▲
Fixed assets21/28€752.7m€775.9m▲
Intangible fixed assets21€23.7m€14.3m▼
Tangible fixed assets22/27€31.1m€47.9m▲
Land and buildings22€1.4m€1.3m▼
Plant, machinery and equipment23€7.4m€23.6m▲
Furniture and vehicles24€0.06m€0.03m▼
Other tangible fixed assets26€0.7m€0.6m▼
Assets under construction and advance payments27€21.5m€22.3m▲
Financial fixed assets28€697.9m€713.8m▲
Affiliated companies280/1€697.2m€713.2m▲
Participating interests280€697.2m€713.2m▲
Other financial fixed assets284/8€0.6m€0.5m▼
Amounts receivable and cash guarantees285/8€0.6m€0.5m▼
Current assets29/58€566.2m€360.3m▼
Amounts receivable after more than one year29€10.8m€7.1m▼
Other amounts receivable291€10.8m€7.1m▼
Stocks and contracts in progress3€143.2m€134.9m▼
Stocks30/36€143.2m€134.9m▼
Raw materials and consumables30/31€20.5m€16.9m▼
Finished goods33€21.3m€9.7m▼
Goods purchased for resale34€98.3m€107.4m▲
Advance payments36€3.1m€0.8m▼
Amounts receivable within one year40/41€206.8m€183.9m▼
Trade receivables40€176.9m€145.0m▼
Other amounts receivable41€29.9m€38.9m▲
Cash at bank and in hand54/58€199.6m€27.2m▼
Deferred charges and accrued income490/1€5.7m€7.2m▲
Equity and liabilities
Total equity and liabilities10/49€1,320.9m€1,140.2m▼
Equity10/15€317.8m€360.1m▲
Contributions10/11€89.1m€89.1m=
Reserves13€8.8m€8.8m=
Non-distributable reserves130/1€0.005m€0.005m=
Other1319€0.005m€0.005m=
Tax-exempt reserves132€0.4m€0.4m=
Distributable reserves133€8.4m€8.4m=
Profit (loss) carried forward14€219.9m€262.2m▲
Investment grants15€0.02m€0.02m=
Provisions and deferred taxes16€31.6m€11.4m▼
Provisions for liabilities and charges160/5€31.6m€11.4m▼
Other liabilities and charges164/5€31.6m€11.4m▼
Amounts payable17/49€971.5m€768.7m▼
Amounts payable after more than one year17€648.0m€358.0m▼
Financial debts170/4€648.0m€358.0m▼
Other loans174€648.0m€358.0m▼
Amounts payable within one year42/48€311.2m€402.5m▲
Financial debts43-€117.5m
Credit institutions430/8-€117.5m
Trade debts44€281.2m€263.1m▼
Suppliers440/4€281.2m€263.1m▼
Taxes, remuneration and social security45€29.9m€21.8m▼
Taxes450/3€16.3m€14.2m▼
Remuneration and social security454/9€13.6m€7.6m▼
Other amounts payable47/48€0.09m€0.09m▼
Accrued charges and deferred income492/3€12.3m€8.2m▼
Income statement Code20242025
Operating income70/76A€1,626.0m€1,534.8m▼
Turnover70€1,575.3m€1,508.2m▼
Change in stocks of work in progress, finished goods and contracts in progress71€5.5m-€10.7m▼
Own construction capitalised72€2.7m€2.0m▼
Other operating income74€37.5m€35.2m▼
Non-recurring operating income76A€5.1m€0.2m▼
Operating charges60/66A€1,589.8m€1,481.2m▼
Goods for resale, raw materials and consumables60€1,199.5m€1,172.7m▼
Purchases600/8€1,212.1m€1,175.6m▼
Change in stocks: decrease (increase)609-€12.5m-€2.9m▲
Services and other goods61€242.4m€240.9m▼
Remuneration, social security and pensions62€73.2m€52.9m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8.2m€9.8m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€1.6m-€1.8m▼
Other operating charges640/8€0.6m€0.7m▲
Non-recurring operating charges66A€64.4m€6.1m▼
Operating profit (loss)9901€36.3m€53.6m▲
Financial income75/76B€93.9m€25.1m▼
Recurring financial income75€13.9m€9.1m▼
Income from financial fixed assets750€3.9m-
Income from current assets751€7.4m€1.5m▼
Other financial income752/9€2.6m€7.6m▲
Non-recurring financial income76B€80.0m€16.0m▼
Financial charges65/66B€37.7m€35.3m▼
Recurring financial charges65€37.7m€35.3m▼
Debt charges650€30.0m€25.7m▼
Other financial charges652/9€7.7m€9.6m▲
Profit (loss) for the period before taxes9903€92.5m€43.3m▼
Income taxes67/77€5.3m€0.9m▼
Taxes670/3€5.4m€0.9m▼
Tax adjustments and reversals of tax provisions77€0.1m-
Profit (loss) for the period9904€87.2m€42.4m▼
Profit (loss) for the period to be appropriated9905€87.2m€42.4m▼
Appropriation of the result
Profit (loss) to be appropriated9906€219.9m€262.2m▲
Profit (loss) brought forward from the previous period14P€132.6m€219.9m▲
Social balance sheet
Average headcount (FTE)9087908.2578.9▼

The notes to these accounts (117 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20182019202020212022202320242025Change
Operating income70/76A---€1,289.0m€1,483.2m€1,600.2m€1,626.0m€1,534.8m▼ 5.6%
Turnover70€1,469.9m€1,383.5m€1,336.7m€1,240.9m€1,419.6m€1,570.1m€1,575.3m€1,508.2m▼ 4.3%
Change in stocks of work in progress, finished goods and contracts in progress71----€2.5m€0.7m-€2.2m€5.5m-€10.7m-
Own construction capitalised72---€2.8m€2.9m€2.5m€2.7m€2.0m▼ 26.3%
Other operating income74---€47.2m€57.7m€28.8m€37.5m€35.2m▼ 6.0%
Non-recurring operating income76A---€0.5m€2.3m€1.0m€5.1m€0.2m▼ 96.3%
Operating charges60/66A---€1,301.9m€1,522.3m€1,575.8m€1,589.8m€1,481.2m▼ 6.8%
Goods for resale, raw materials and consumables60---€990.4m€1,193.9m€1,258.5m€1,199.5m€1,172.7m▼ 2.2%
Purchases600/8---€982.1m€1,197.3m€1,259.7m€1,212.1m€1,175.6m▼ 3.0%
Change in stocks: decrease (increase)609---€8.3m-€3.4m-€1.3m-€12.5m-€2.9m▲ 77.1%
Services and other goods61---€170.3m€227.5m€214.2m€242.4m€240.9m▼ 0.6%
Remuneration, social security and pensions62---€74.4m€71.9m€75.3m€73.2m€52.9m▼ 27.7%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13.3m€17.0m€14.5m€13.3m€10.4m€8.2m€8.2m€9.8m▲ 19.9%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4----€1.7m€0.1m€0.8m€1.6m-€1.8m-
Other operating charges640/8---€0.6m€0.5m€0.7m€0.6m€0.7m▲ 17.2%
Non-recurring operating charges66A---€54.6m€17.9m€18.0m€64.4m€6.1m▼ 90.6%
Operating profit (loss)9901€31.5m-€14.3m€20.3m-€12.9m-€39.1m€24.3m€36.3m€53.6m▲ 47.9%
Financial income75/76B---€24.4m€40.1m€130.8m€93.9m€25.1m▼ 73.3%
Recurring financial income75€26.6m€4.2m€62.0m€3.3m€40.1m€130.8m€13.9m€9.1m▼ 35.0%
Income from financial fixed assets750----€32.7m€120.6m€3.9m--
Income from current assets751---€0.5m€0.5m€5.1m€7.4m€1.5m▼ 80.0%
Other financial income752/9---€2.9m€6.9m€5.0m€2.6m€7.6m▲ 191%
Non-recurring financial income76B---€21.0m--€80.0m€16.0m▼ 80.0%
Financial charges65/66B---€119.9m€43.1m€74.9m€37.7m€35.3m▼ 6.1%
Recurring financial charges65€26.5m€19.5m€25.7m€29.2m€43.1m€44.1m€37.7m€35.3m▼ 6.1%
Debt charges650€15.8m€17.0m€21.4m€23.6m€38.5m€38.3m€30.0m€25.7m▼ 14.2%
Other financial charges652/9---€5.6m€4.6m€5.8m€7.7m€9.6m▲ 25.6%
Non-recurring financial charges66B---€90.7m€0.005m€30.8m---
Profit (loss) for the period before taxes9903€31.9m-€230.8m€60.3m-€108.5m-€42.0m€80.2m€92.5m€43.3m▼ 53.2%
Income taxes67/77€1.2m-€0.1m-€6.4m€0.5m€0.2m€0.2m€5.3m€0.9m▼ 82.4%
Taxes670/3---€0.5m€0.3m€0.2m€5.4m€0.9m▼ 82.8%
Tax adjustments and reversals of tax provisions77----€0.06m-€0.1m--
Profit (loss) for the period9904€30.7m-€230.6m€66.7m-€108.9m-€42.3m€80.0m€87.2m€42.4m▼ 51.4%
Profit (loss) for the period to be appropriated9905€32.1m-€230.6m€66.7m-€108.9m-€42.3m€80.0m€87.2m€42.4m▼ 51.4%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€1,570.0m€1,317.4m€1,605.9m€1,207.2m€1,227.7m€1,195.5m€1,320.9m€1,140.2m▼ 13.7%
Formation expenses20€2.3m€1.7m€1.1m€8.6m€6.6m€4.8m€2.0m€4.0m▲ 101%
Fixed assets21/28€1,157.2m€952.5m€1,191.8m€875.8m€876.2m€658.5m€752.7m€775.9m▲ 3.1%
Intangible fixed assets21€0.9m€2.5m€8.8m€17.2m€20.8m€25.2m€23.7m€14.3m▼ 39.9%
Tangible fixed assets22/27€47.8m€39.0m€33.3m€17.8m€14.5m€15.6m€31.1m€47.9m▲ 54.0%
Land and buildings22---€0.9m€0.8m€1.3m€1.4m€1.3m▼ 7.3%
Plant, machinery and equipment23---€12.1m€7.1m€7.6m€7.4m€23.6m▲ 218%
Furniture and vehicles24---€0.009m€0.04m€0.05m€0.06m€0.03m▼ 37.7%
Other tangible fixed assets26---€0.4m€0.3m€0.8m€0.7m€0.6m▼ 16.3%
Assets under construction and advance payments27---€4.3m€6.3m€5.8m€21.5m€22.3m▲ 3.8%
Financial fixed assets28€1,108.4m€911.0m€1,149.7m€840.7m€840.8m€617.8m€697.9m€713.8m▲ 2.3%
Affiliated companies280/1---€840.1m€840.3m€617.2m€697.2m€713.2m▲ 2.3%
Participating interests280---€838.6m€838.5m€617.2m€697.2m€713.2m▲ 2.3%
Amounts receivable281---€1.5m€1.8m----
Other financial fixed assets284/8---€0.6m€0.5m€0.6m€0.6m€0.5m▼ 18.2%
Amounts receivable and cash guarantees285/8---€0.6m€0.5m€0.6m€0.6m€0.5m▼ 18.2%
Current assets29/58€410.5m€363.2m€413.0m€322.8m€345.0m€532.1m€566.2m€360.3m▼ 36.4%
Amounts receivable after more than one year29-----€28.6m€10.8m€7.1m▼ 33.8%
Other amounts receivable291-----€28.6m€10.8m€7.1m▼ 33.8%
Stocks and contracts in progress3€165.9m€124.7m€136.0m€125.1m€128.2m€126.8m€143.2m€134.9m▼ 5.8%
Stocks30/36---€125.1m€128.2m€126.8m€143.2m€134.9m▼ 5.8%
Raw materials and consumables30/31---€27.5m€34.4m€23.0m€20.5m€16.9m▼ 17.4%
Finished goods33---€17.2m€17.9m€15.3m€21.3m€9.7m▼ 54.5%
Goods purchased for resale34---€77.1m€73.4m€85.5m€98.3m€107.4m▲ 9.3%
Advance payments36---€3.3m€2.3m€3.0m€3.1m€0.8m▼ 73.2%
Amounts receivable within one year40/41€224.2m€216.0m€208.9m€181.1m€190.3m€190.4m€206.8m€183.9m▼ 11.1%
Trade receivables40---€160.6m€164.1m€159.8m€176.9m€145.0m▼ 18.1%
Other amounts receivable41---€20.4m€26.2m€30.6m€29.9m€38.9m▲ 30.0%
Cash at bank and in hand54/58€15.3m€15.4m€60.6m€11.5m€19.3m€180.1m€199.6m€27.2m▼ 86.4%
Deferred charges and accrued income490/1---€5.1m€7.3m€6.2m€5.7m€7.2m▲ 26.2%
Equity and liabilities
Total equity and liabilities10/49€1,570.0m€1,317.4m€1,605.9m€1,207.2m€1,227.7m€1,195.5m€1,320.9m€1,140.2m▼ 13.7%
Equity10/15€465.7m€235.0m€301.7m€192.8m€150.5m€230.5m€317.8m€360.1m▲ 13.3%
Contributions10/11€71.0m€71.0m-€89.1m€89.1m€89.1m€89.1m€89.1m=
Reserves13€8.8m€8.8m€8.8m€8.8m€8.8m€8.8m€8.8m€8.8m=
Non-distributable reserves130/1---€0.005m€0.005m€0.005m€0.005m€0.005m=
Other1319---€0.005m€0.005m€0.005m€0.005m€0.005m=
Tax-exempt reserves132---€0.4m€0.4m€0.4m€0.4m€0.4m=
Distributable reserves133---€8.4m€8.4m€8.4m€8.4m€8.4m=
Profit (loss) carried forward14€367.8m€137.2m€203.8m€94.9m€52.6m€132.6m€219.9m€262.2m▲ 19.3%
Investment grants15---€0.02m€0.02m€0.02m€0.02m€0.02m=
Provisions and deferred taxes16€2.2m€4.5m€0.9m€0.4m€0.4m€0.4m€31.6m€11.4m▼ 63.9%
Provisions for liabilities and charges160/5---€0.4m€0.4m€0.4m€31.6m€11.4m▼ 63.9%
Other liabilities and charges164/5---€0.4m€0.4m€0.4m€31.6m€11.4m▼ 63.9%
Amounts payable17/49€1,102.1m€1,077.9m€1,303.3m€1,014.0m€1,076.8m€964.5m€971.5m€768.7m▼ 20.9%
Amounts payable after more than one year17€761.9m€761.9m€1,036.3m€648.0m€648.0m€648.0m€648.0m€358.0m▼ 44.8%
Financial debts170/4---€648.0m€648.0m€648.0m€648.0m€358.0m▼ 44.8%
Other loans174---€648.0m€648.0m€648.0m€648.0m€358.0m▼ 44.8%
Amounts payable within one year42/48€337.9m€314.9m€264.4m€353.3m€407.5m€301.0m€311.2m€402.5m▲ 29.4%
Financial debts43---€65.4m€114.2m--€117.5m-
Credit institutions430/8---€65.4m€114.2m--€117.5m-
Trade debts44€241.5m€266.6m€238.7m€262.8m€268.0m€277.0m€281.2m€263.1m▼ 6.4%
Suppliers440/4---€262.8m€268.0m€277.0m€281.2m€263.1m▼ 6.4%
Taxes, remuneration and social security45---€25.0m€23.3m€23.9m€29.9m€21.8m▼ 26.8%
Taxes450/3---€13.4m€12.1m€12.3m€16.3m€14.2m▼ 12.7%
Remuneration and social security454/9---€11.6m€11.1m€11.6m€13.6m€7.6m▼ 43.8%
Other amounts payable47/48---€0.06m€2.1m€0.09m€0.09m€0.09m▼ 8.4%
Accrued charges and deferred income492/3---€12.6m€21.2m€15.5m€12.3m€8.2m▼ 33.4%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€30.7m-€230.6m€66.7m-€108.9m-€42.3m€80.0m€87.2m€42.4m▼ 51.4%
+ Depreciation and write-downs630€13.3m€17.0m€14.5m€13.3m€10.4m€8.2m€8.2m€9.8m▲ 19.9%
Operating cash flow (approximation)€44.0m-€213.6m€81.2m-€95.7m-€31.9m€88.3m€95.4m€52.2m▼ 45.3%
Investment in fixed assets (approximation)-€187.6m-€253.8m€302.8m-€10.8m€209.4m-€102.3m-€33.0m▲ 67.7%
Change in cash-€0.1m€45.2m-€49.2m€7.8m€160.8m€19.5m-€172.4m-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 58 filings with the National Bank
Financial year Type Filed Reference
31-12-2025 full format 06-07-2026 2026-00270052
31-12-2024 full format 03-07-2025 2025-00244061
31-12-2023 full format 28-06-2024 2024-00198535
31-12-2022 full format 30-06-2023 2023-00191905
31-12-2021 full format 30-06-2022 2022-20136319
31-12-2020 full format 09-07-2021 2021-34300467
31-12-2019 full format 22-06-2020 2020-19300582
31-12-2018 full format 24-06-2019 2019-22000544
31-12-2017 full format 12-07-2018 2018-32400101
31-12-2016 full format 06-07-2017 2017-30300451

Show all 58 filings

Similar companies · same sector, comparable size

Of the 26 active companies whose main activity is manufacture of paper and paper products (NACE 17220), figures are known for 18. 2 are within a factor 10 of this equity. See the whole sector

Subsidies and aid

Flemish government

2022 to 2025 · 8 entries · €578,331 awarded · €578,331 paid
Year Entries AwardedPaid
2025 2 €19,058€19,058
2024 2 €137,886€137,886
2023 2 €315,001€315,001
2022 2 €106,386€106,386
Schemes
4 entries · €562,265 · €562,265 paid · Departement Werk en Sociale Economie
4 entries · €16,066 · €16,066 paid · Departement Werk en Sociale Economie

Public contracts

16 awards · 2023 to 2026
Fourniture de produits d'incontinence & autres matériels jetables (01/10/2026 - 30/09/2030): Langes et alèses
buyer: Les Foyers des Pauvres Sœurs ASBLMedical equipment and pharmaceuticalsawarded 10-07-2026€817,5924 tendersTED 492602-2026
Raamovereenkomst voor leveringen van incontinentiemateriaal: AZO 2026 - Incontinentiemateriaal - 1
buyer: VZW Samenaankoop AZOMedical equipment and pharmaceuticalsawarded 01-07-2026€1.7m2 tendersTED 479493-2026
Centrale d'achat de matériel et produits paramédicaux: Protections urinaires
buyer: IMSTAM scMedical equipment and pharmaceuticalsawarded 12-03-2026€565,4393 tendersTED 175343-2026
Raamovereenkomst voor “LEVEREN VAN INCONTINENTIEMATERIAAL”: 2024/SMMD/inco - 1
buyer: Stichting Marguerite-Marie DelacroixMedical equipment and pharmaceuticalsawarded 17-09-2025€13.1m5 tendersTED 620293-2025
Meerjarige raamovereenkomst 2025 - 2029 voor de levering van incontinentiematerialen, diverse toebehoren en luiers voor baby’s en peuters, voor een maximale geraamde waarde van 29.749.491 EURO en bestaande uit 3 percelen.: Incontinentiematerialen en diverse toebehoren voor ziekenhuizen
buyer: Opdrachtencentrale vzwMedical equipment and pharmaceuticalsawarded 07-07-2025€9.7m3 tendersTED 120701-2026
Show 11 more contracts
Meerjarige raamovereenkomst 2025 - 2029 voor de levering van incontinentiematerialen, diverse toebehoren en luiers voor baby’s en peuters, voor een maximale geraamde waarde van 29.749.491 EURO en bestaande uit 3 percelen.: Incontinentiematerialen en diverse toebehoren voor woonzorgcentra
buyer: Opdrachtencentrale vzwMedical equipment and pharmaceuticalsawarded 07-07-2025€9.7m3 tendersTED 120701-2026
Meerjarige raamovereenkomst 2025 - 2029 voor de levering van incontinentiematerialen, diverse toebehoren en luiers voor baby’s en peuters, voor een maximale geraamde waarde van 29.749.491 EURO en bestaande uit 3 percelen.: Incontinentiematerialen en diverse toebehoren voor ziekenhuizen
buyer: Opdrachtencentrale vzwMedical equipment and pharmaceuticalsawarded 07-07-2025€9.7m3 tendersTED 674539-2025
Meerjarige raamovereenkomst 2025 - 2029 voor de levering van incontinentiematerialen, diverse toebehoren en luiers voor baby’s en peuters, voor een maximale geraamde waarde van 29.749.491 EURO en bestaande uit 3 percelen.: Incontinentiematerialen en diverse toebehoren voor woonzorgcentra
buyer: Opdrachtencentrale vzwMedical equipment and pharmaceuticalsawarded 07-07-2025€9.7m3 tendersTED 674539-2025
Raamovereenkomst voor de levering van incontinentiematerialen: 2024-201 Incontinentiemateriaal voor volwassenen
buyer: Hospilim VZWMedical equipment and pharmaceuticalsawarded 02-07-2025€1.4m3 tendersTED 516861-2025
Raamovereenkomst voor de levering van incontinentiematerialen: 2024-201 Onderleggers
buyer: Hospilim VZWMedical equipment and pharmaceuticalsawarded 02-07-2025€413,9693 tendersTED 516861-2025
Raamovereenkomst voor de levering van incontinentiematerialen: 2024-201 Wassen
buyer: Hospilim VZWMedical equipment and pharmaceuticalsawarded 02-07-2025€730,9575 tendersTED 516861-2025
Accord- cadre relatif à la fourniture de consommables pour la gestion de l’incontinence adulte dans les différents départements infrimiers de Vivalia: Protections anatomiques
buyer: VivaliaMedical equipment and pharmaceuticalsawarded 27-03-2025€276,8293 tendersTED 212296-2025
Accord- cadre relatif à la fourniture de consommables pour la gestion de l’incontinence adulte dans les différents départements infrimiers de Vivalia: Slips filets élastiques
buyer: VivaliaMedical equipment and pharmaceuticalsawarded 27-03-2025€31,5633 tendersTED 212296-2025
Marché public de fournitures à bordereau de prix ayant pour but la fourniture, pendant 48 mois, de produits à usage unique écoresponsables
buyer: BrusselMedical equipment and pharmaceuticalsawarded 31-01-2025€472,5864 tendersTED 95524-2025
Matériel d'incontinence, ouate cellulose, gants de toilette "disposable" et produits de soins: Lot 1 - Matériel d'incontinence
buyer: Intercommunale de Soins Spécialisés de LiègeMedical equipment and pharmaceuticalsawarded 26-06-2024€1.2m3 tendersTED 437412-2024
Aankoop en leveren van incontinentiemateriaal
buyer: OCMW PoperingeMedical equipment and pharmaceuticalsawarded 23-08-2023€809,5901 tenderTED 89735-2024

Source: TED (Tenders Electronic Daily), Publications Office of the European Union. Values as the buyer published them; for a framework agreement, a ceiling.

Directors

Directors

Permanent representatives 1

Francis Boelens
Vertegenwoordiger van de commissaris · since 07-08-2026
Current

Statutory auditor 1

Ernst et Young Reviseurs d'Entreprises
Statutory auditor · since 07-08-2026 · permanent representative: Francis Boelens
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

2 people since 2026, 2 in office
Show
  • Permanent representative
  • Statutory auditor
Mandates per person, with start and end dates
Name Functions and periods
Francis Boelens
  • Vertegenwoordiger van de commissaris, from 07-08-2026 to date
Ernst et Young Reviseurs d'Entreprises
  • Statutory auditor, from 07-08-2026 to date
See the board, name and registered office on a given date →

Owners and capital

Owners

1 owner

Chain of control

  1. ONTEX GROUP 100%
  2. Ontex

Highest known parent: ONTEX GROUP. The sources do not say who stands above it.

According to the 2025 annual accounts of Ontex 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.

Group and network

Part of the group ONTEX GROUP 17 companies Group, risk and exposure

Holdings and subsidiaries

20 holdings

Holdings 20

  • EUTIMAsubsidiary
    Equity €7.2mResult €339,217
    100%
  • Hygiène Medica SASFRsubsidiary
    Equity €314.5mResult €9.2m
    100%
  • Ontex Health Care UK ltdGBsubsidiary
    Equity GBP 21.3mResult GBP 1.9m
    100%
  • Ontex Hygienic Disposables (Shanghai) LTDCNsubsidiary
    Equity CNY 1.9mResult CNY 128,689
    100%
  • Ontex Hygienic Disposables Co.LD BOCNsubsidiary
    Equity CNY 2.7mResult CNY 185,490
    100%
  • Ontex Hygienic Spain SLESsubsidiary
    Equity €147.8mResult €18.1m
    100%
  • Ontex Manufacturing Australia Pty LtdAUsubsidiary
    Equity AUD 16.7mResult AUD 364,606
    100%
  • Ontex Polska sp. z.o.o.PLsubsidiary
    Equity PLN 299.0mResult PLN 42.1m
    100%
  • Ontex Retail UK ltdGBsubsidiary
    Equity GBP 15.2mResult GBP 3.8m
    100%
  • Ontex Romania SRLROsubsidiary
    Equity -€1.5mResult €107,595
    100%
Show 10 more holdings
  • Ontex RU LLCRUsubsidiary
    Equity RUB 6.72bnResult RUB 298.7m
    100%
  • Ontex Ukraine LLCUAsubsidiary
    Equity UAH 140.7mResult UAH 15.3m
    100%
  • Ontex US Holdco LLCUSsubsidiary
    Equity USD 54.3mResult USD 13.3m
    100%
  • SERENITY HOLDCO S.R.L.ITsubsidiary
    Equity €16.7mResult -€2.4m
    100%
  • Ontex Mexico Operations SA de C.VMXsubsidiary
    Equity MXN 1.18bnResult -MXN 21.5m
    99.99%+ 0.01% via subsidiaries
  • Ontex Hygienic Disposables PLCETsubsidiary
    Equity ETB 327.3m
    99%+ 1% via subsidiaries
  • "ONTEX POLSKA" SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄPLsubsidiary
    consolidated
  • HYGIENE MEDICAFRsubsidiary
    consolidated
  • ONTEX RETAIL UK LIMITEDGBsubsidiary
    consolidated
  • ONTEX VERTRIEB GMBHDE
    Equity €155.1mResult -€6.3m
    17.24%+ 82.76% via subsidiaries

According to the 2025 annual accounts of Ontex 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.

Connections & network

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History

Ontex was incorporated on 2 June 1979.1 Turnover went from €1.47bn in 2018 to €1.51bn in 2025 and headcount from 1,226 to 579 full-time equivalents.2

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

Acts, filings and financial milestones

Next filing, financial year 2026, expected by 31-07-2027
2026
14-10
Gazette deed Resignation: Chilibri BV (director)
Appointment: Stéphane Re (director) · Power of attorney9 facts ▸
  • General meeting, 14-09-2026
  • Director resignation, Chilibri BV (director)
  • Director appointment, Stéphane Re (director)
  • Board composition, Émage Europe SRL (director)
  • Board composition, Deroo Management & Consulting BV (director)
  • Board composition, Stéphane Re (director)
  • Power of attorney, Jan-Willem Geeroms
  • Power of attorney, Vincent Chantillon
  • Power of attorney, Laura Van Outryve
07-08
Gazette deed Appointments: Ernst & Young Bedrijfsrevisoren BV (statutory auditor) and Francis Boelens (vertegenwoordiger van de commissaris)
4 facts ▸
  • General meeting, 30-06-2026
  • Auditor appointment, Ernst & Young Bedrijfsrevisoren BV (statutory auditor)
  • Auditor appointment, Francis Boelens (vertegenwoordiger van de commissaris)
  • Auditor appointment, Ernst & Young Bedrijfsrevisoren BV
06-07
NBB filing Annual accounts filed
financial year 2025 · full format
2025
03-07
NBB filing Annual accounts filed
financial year 2024 · full format
04-06
Gazette deed Resignation: Jonas Deroo (director)
Appointment: Deroo Management & Consulting BV (director) · Permanent representatives: Jonas Deroo, Geert Peeters and Laurent Nielly9 facts ▸
  • General meeting, 05-05-2025
  • Director resignation, Jonas Deroo (director)
  • Director appointment, Deroo Management & Consulting BV (director)
  • Permanent representative, Jonas Deroo
  • Board composition, Chilibri BV (director)
  • Permanent representative, Geert Peeters
  • Board composition, Émage Europe SRL (director)
  • Permanent representative, Laurent Nielly
  • Board composition, Deroo Management & Consulting BV (director)
2024
31-12
Financial Highest result from 2018 to 2025net €87.2m ▲9%
Net result €87.2m, the highest in the series.
31-12
Financial Equity above €250mequity €317.8m ▲37.8%
2 profitable years in a row build equity to €317.8m.
07-10
Gazette deed Reappointment: PwC Bedrijfsrevisoren BV (statutory auditor)
Permanent representative: Lien Winne3 facts ▸
  • General meeting, 28-06-2024
  • Auditor reappointment, PwC Bedrijfsrevisoren BV (statutory auditor)
  • Permanent representative, Lien Winne
28-06
NBB filing Annual accounts filed
financial year 2023 · full format
27-06
Gazette deed Resignations: Émage Europe (director) and Karen Van den Driessche (director)
Appointments: Émage Europe (director) and Jonas Deroo (director) · Permanent representative: Laurent Nielly6 facts ▸
  • General meeting, 03-04-2024
  • Director resignation, Émage Europe (director)
  • Director appointment, Émage Europe (director)
  • Permanent representative, Laurent Nielly
  • Director resignation, Karen Van den Driessche (director)
  • Director appointment, Jonas Deroo (director)
14-02
Gazette deed Resignation: Jonas Deroo (director)
Appointment: Chilibri BV (director)4 facts ▸
  • General meeting, 15-01-2024
  • Director resignation, Jonas Deroo (director)
  • Director appointment, Chilibri BV (director)
  • Other provision, “genoemd bij benoeming bestuurder, benoeming Chilibri BV als bestuurder” (deed in Dutch)
2023
31-12
Financial Back to profitnet €80.0m
Net result €80.0m after 2 loss-making years.
Show earlier events
31-12
Financial Liquidity more than doubledcurrent ratio 1.77
Current ratio from 0.85 to 1.77; short-term debt falls from €407.5m to €301.0m.
30-06
NBB filing Annual accounts filed
financial year 2022 · full format
2022
30-06
NBB filing Annual accounts filed
financial year 2021 · full format
2021
09-07
NBB filing Annual accounts filed
financial year 2020 · full format
2020
31-12
Financial Back to profitnet €66.7m
Net result €66.7m after one loss-making year.
31-12
Financial Equity above €250mequity €301.7m ▲28.4%
Equity rises from €235.0m to €301.7m.
22-06
NBB filing Annual accounts filed
financial year 2019 · full format
2019
31-12
Financial Weakest financial yearnet -€230.6m
Net result drops to -€230.6m, the lowest in the series; recovery starts the following year.
24-06
NBB filing Annual accounts filed
financial year 2018 · full format
2018
12-07
NBB filing Annual accounts filed
financial year 2017 · full format
2017
06-07
NBB filing Annual accounts filed
financial year 2016 · full format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 58 annual accounts filed, the latest 10 are here; all 58 are under Financials.
6 of 49 deeds read
About the unread acts

Of the 49 Belgian Official Gazette deeds we know for this company, 6 have been read. The other 43 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Register details

Identification
Legal formPrivate limited company
Founded02-06-1979
Financial year end31-12
Activities, NACEBEL 2025
17220Manufacture of paper and paper products
E-invoicing
Reachable via Peppol
Peppol ID 0208:0419457296
Registered 28-10-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 18 October 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.

Recognitions · licences · registrations

Legal Entity Identifier

549300XHGK09MEWMOL68
live in the LEI register

Environmental permits

1 application in Flanders since 2023 · 1 granted
Nieuwbouw of aanleggen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie; Slopen van niet vrijstaande gebouwen of constructies; Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden
Granted on 09-11-2023submitted 30-03-2023authority: Provincie Oost-Vlaanderenproject 2022098138

Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.

Sites & property

Location & real-estate footprint
Registered office, Buggenhout · 3 establishment units since 1979
registered office establishment All 3 establishment units on the map
Ground area
11.3 ha
Building footprint
6.9 ha
Building volume
291,157 m³
3 parcels, Flanders · tallest building 58.8 m. Linked by address, not a title deed.
4 companies at this address See who is registered here
3 establishment units
ONTEX BV - PLANT BUGGENHOUT
Genthof 5, 9255 BuggenhoutManufacture of paper and paper products
since 1979unit no. 2.072.978.189
ONTEX BV - PLANT EEKLO
Korte Moeie 53, 9900 EekloManufacture of paper and paper products
since 1997unit no. 2.072.978.288
ONTEX BV - HQ AALST
Korte Keppestraat 21, 9320 AalstManufacture of paper and paper products
since 2011unit no. 2.202.459.828
3 parcels
Flanders 3 (100%)
Cadastral parcel Region Area Buildings Height / floors
42004E0971/00S000 Flanders 6.0 ha 1 · 4.0 ha -
43352F0519/00N002 Flanders 3.5 ha 1 · 2.7 ha 18.6 m · 3
41342B0932/00D000 Flanders 1.7 ha 1 · 2,128 m² 58.8 m · 9
How the parcels are linked
Good to know
All 3 parcels match the address exactly.

Articles of association

Other provisionsOther rules from the articles that fall under none of the themes above.
1 more provision in the deed, see the deed of 27-06-2024

Read from the deeds: 1 provision, deed of 27-06-2024