ACTIVE

IPM Group

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Financial year 2025 · closed on 31/12/2025

Net result

-4,4 M €

-62.1% YoY

Revenue

48,8 M €

-6.9% YoY

Equity

3,1 M €

-86.1% YoY

Workforce

151,2 ETP

+1.0% YoY

What does IPM Group do?

IPM Group is a Public limited company incorporated in 1968. Its main activity is: Publishing of newspapers. Its registered office is in Etterbeek. It employs on average 151,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0403.508.716

Incorporation

01/01/1968

Legal form

Public limited company

Registered office

Rue des Francs 79
1040 Etterbeek · BruxellesSee on map

Contributed capital

361 095,03 €

Latest accounts

31/12/2025

Average workforce

151,2 ETP

Activities (NACE)

58130Publishing of newspapers· main 58140Publishing of journals and periodicals 70100Activities of head offices 70100Activities of head offices 74151Specialised design activities 74401Other professional, scientific and technical activities+5

Joint committees (2)

Signals

Positive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2011
Income statement
Revenue	48,8 M €	-6.9%	52,5 M €	-7.2%	56,5 M €	-2.4%	57,9 M €	-5.9%	61,6 M €	+6.1%	58 M €	-2.0%	59,2 M €	-2.0%	60,4 M €	-5.5%	63,9 M €	-0.2%	64,1 M €	-2.1%	65,4 M €	+8.4%	60,4 M €	+2.0%	59,2 M €	+6.7%	55,5 M €
EBITDA	10 M €	+54.9%	6,4 M €	+152%	-12,4 M €	-265%	-3,4 M €	-365%	1,3 M €	-90.2%	13,1 M €	+1396%	-1 M €	+27.0%	-1,4 M €	-1556%	-84 k €	-0.6%	-83,5 k €	-112%	680,1 k €	+377%	-245,3 k €	+84.0%	-1,5 M €	+41.3%	-2,6 M €
Operating result	7,5 M €	+91.3%	3,9 M €	+128%	-14,1 M €	-260%	-3,9 M €	-3105%	-122 k €	-101%	11 M €	+611%	-2,1 M €	+3.1%	-2,2 M €	-128%	-972,6 k €	+3.8%	-1 M €	-365%	-217,5 k €	+78.9%	-1 M €	+53.2%	-2,2 M €	+44.1%	-3,9 M €
Net result	-4,4 M €	-62.1%	-2,7 M €	-118%	15,3 M €	+532%	-3,5 M €	-1133%	-287,5 k €	-102%	14,6 M €	+232%	4,4 M €	+1362%	299,5 k €	+179%	-379,4 k €	+85.4%	-2,6 M €	-822%	-282,1 k €	+91.6%	-3,3 M €	-8.7%	-3,1 M €	+28.3%	-4,3 M €
Balance sheet
Equity	3,1 M €	-86.1%	22,5 M €	-11.1%	25,4 M €	+8.3%	23,4 M €	-13.1%	27 M €	-1.1%	27,3 M €	-8.9%	29,9 M €	-10.3%	33,4 M €	+39.7%	23,9 M €	+95.5%	12,2 M €	-14.8%	14,3 M €	-8.1%	15,6 M €	+1.7%	15,3 M €	-28.5%	21,5 M €
Total assets	35,6 M €	-42.0%	61,4 M €	-6.0%	65,3 M €	-14.4%	76,3 M €	-7.8%	82,7 M €	+2.5%	80,7 M €	+5.7%	76,3 M €	-4.7%	80,1 M €	+15.4%	69,5 M €	+22.0%	56,9 M €	-1.3%	57,7 M €	-6.5%	61,7 M €	+17.3%	52,6 M €	+2.9%	51,2 M €
Cash	5,3 M €	+37.8%	3,8 M €	+441%	709,6 k €	-2.6%	728,3 k €	-80.5%	3,7 M €	-61.3%	9,6 M €	+735%	1,2 M €	-13.0%	1,3 M €	-38.5%	2,2 M €	+0.3%	2,2 M €	-26.0%	2,9 M €	-55.6%	6,5 M €	+87.7%	3,5 M €	-34.5%	5,3 M €
Debts	24,9 M €	-19.3%	30,8 M €	-4.8%	32,4 M €	-28.6%	45,3 M €	-5.7%	48,1 M €	+5.5%	45,6 M €	+18.7%	38,4 M €	+0.2%	38,3 M €	+4.0%	36,8 M €	+2.8%	35,8 M €	+4.3%	34,3 M €	-7.2%	37 M €	+29.2%	28,6 M €	+35.4%	21,2 M €
Other
Workforce	151,2 ETP	+1.0%	149,7 ETP	-3.3%	154,8 ETP	-3.8%	160,9 ETP	+2.9%	156,3 ETP	-1.3%	158,3 ETP	+1.6%	155,8 ETP	-2.3%	159,5 ETP	+6.7%	149,5 ETP	-2.2%	152,8 ETP	-0.8%	154,0 ETP	-8.0%	167,4 ETP	+0.2%	167,0 ETP	0.0%	167,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 42 ended

Active mandates

51 Publications sas S. Etr.

Director · since 25 juin 2025 · until 25 juin 2031

Represented by Francis Morel

Active

François le HODEY

Managing director · since 25 juin 2025 · until 25 juin 2031

Active

Patrice le HODEY

Vice-chairman of the board of directors · since 25 juin 2025 · until 25 juin 2031

Active

Philippe le Hodey

Director · since 25 juin 2025 · until 25 juin 2031

Active

Marguerite le HODEY

Director · since 29 juin 2023 · until 29 juin 2029

Active

ACCES DIRECT

Chairman of the board of directors · since 23 juin 2021 · until 23 juin 2027 · 0448.435.948

Represented by Pierre RION

Active

Ended mandates

51 Publications sas S. Etr.

Director · since 23 juin 2021 · until 23 juin 2024

Represented by Francis Morel

Ended

51 Publications sas S. Etr.

Director · since 23 juin 2021 · until 27 juin 2025

Represented by Francis Morel

Ended

51 Publications SAS S. Etr.

Director · since 23 juin 2021 · until 23 juin 2024

Represented by Francis Morel

Ended

François le HODEY

Managing director · since 03 juillet 2019 · until 03 juillet 2025

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	28/07/2026	01/07/2025	22/07/2024	28/07/2023	25/07/2022	30/07/2021
General meeting	07/07/2026	25/06/2025	26/06/2024	29/06/2023	24/06/2022	23/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

45 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	07/07/2026	28/07/2026	French	PDF
Full model	31/12/2024	25/06/2025	01/07/2025	French	PDF
m120-f-p	31/12/2024	25/06/2025	01/07/2025	French	PDF
Full model	31/12/2023	26/06/2024	22/07/2024	French	PDF
m120-f-pCorrection	31/12/2023	12/07/2024	23/10/2024	French	PDF
m120-f-p	31/12/2023	12/07/2024	22/07/2024	French	PDF
Full model	31/12/2022	29/06/2023	28/07/2023	French	PDF
m120-f-p	31/12/2022	27/07/2023	28/07/2023	French	PDF
Full model	31/12/2021	24/06/2022	25/07/2022	French	PDF
m120-f-p	31/12/2021	22/07/2022	03/08/2022	French	PDF
Full model	31/12/2020	23/06/2021	30/07/2021	French	PDF
m120-f-p	31/12/2020	30/06/2021	30/07/2021	French	PDF
Full model	31/12/2019	24/06/2020	30/07/2020	French	PDF
m120-f-p	31/12/2019	24/06/2020	25/09/2020	French	PDF
Full model	31/12/2018	27/06/2019	24/07/2019	French	PDF
m120-f-p	31/12/2018	27/06/2019	24/07/2019	French	PDF
Full model	31/12/2017	21/06/2018	26/07/2018	French	PDF
m120-f-p	31/12/2017	21/06/2018	26/07/2018	French	PDF
Full model	31/12/2016	08/06/2017	13/07/2017	French	PDF
m120-f-p	31/12/2016	08/06/2017	14/07/2017	French	PDF
Full model	31/12/2015	15/06/2016	13/07/2016	French	PDF
m120-f-p	31/12/2015	15/06/2016	15/07/2016	French	PDF
Full model	31/12/2014	16/07/2015	16/07/2015	French	PDF
m120-f-p	31/12/2014	16/07/2015	16/07/2015	French	PDF

View all 45 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 42 ended

Active mandates

51 Publications sas S. Etr.

Director · since 25 juin 2025 · until 25 juin 2031

Represented by Francis Morel

Active

François le HODEY

Managing director · since 25 juin 2025 · until 25 juin 2031

Active

Patrice le HODEY

Vice-chairman of the board of directors · since 25 juin 2025 · until 25 juin 2031

Active

Philippe le Hodey

Director · since 25 juin 2025 · until 25 juin 2031

Active

Marguerite le HODEY

Director · since 29 juin 2023 · until 29 juin 2029

Active

ACCES DIRECT

Chairman of the board of directors · since 23 juin 2021 · until 23 juin 2027 · 0448.435.948

Represented by Pierre RION

Active

Ended mandates

51 Publications sas S. Etr.

Director · since 23 juin 2021 · until 23 juin 2024

Represented by Francis Morel

Ended

51 Publications sas S. Etr.

Director · since 23 juin 2021 · until 27 juin 2025

Represented by Francis Morel

Ended

51 Publications SAS S. Etr.

Director · since 23 juin 2021 · until 23 juin 2024

Represented by Francis Morel

Ended

François le HODEY

Managing director · since 03 juillet 2019 · until 03 juillet 2025

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring16/12/2025
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring23/10/2025
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates10/07/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates06/08/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates16/04/2024
DEMISSIONS, NOMINATIONS
PDF
Other15/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates27/09/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates08/02/2022
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-4,4 M €↓
01/12/2025
constitution
01/10/2025
split
25/06/2025
reconductionPatrice le HODEY — administrateur
25/06/2025
reconductionPhilippe le HODEY — administrateur
25/06/2025
reconductionFrançois le HODEY — administrateur délégué
25/06/2025
reconductionMarie Delacroix — commissaire des comptes statutaires et des comptes consolidés
2024
Annual accounts 2024-2,7 M €↓
2023
Annual accounts 202315,3 M €↑
29/06/2023
reconductionMarguerite le HODEY — Administrateur
2022
Annual accounts 2022-3,5 M €↓
24/06/2022
reconductionSRL RSM InterAudit — commissaire-réviseur
2021
Annual accounts 2021-287,5 k €↓
2020
Annual accounts 202014,6 M €↑
2019
Annual accounts 20194,4 M €↑
2018
Annual accounts 2018299,5 k €↑
2017
Annual accounts 2017-379,4 k €↑
2016
Annual accounts 2016-2,6 M €↓
2015
Annual accounts 2015-282,1 k €↑
2014
Annual accounts 2014-3,3 M €↓
2013
Annual accounts 2013-3,1 M €↑
2013
Name changeIPM GROUP
2011
Annual accounts 2011-4,3 M €
2011
Name changeSOCIETE ANONYME D'INFORMATIONS ET DE PRODUCTIONS MULTIMEDIA
01/01/1968
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

IPM Group

Overview

What does IPM Group do?

Trend over 14 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline