ACTIVE

IVAR GROUP

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Financial year 2025 · closed on 31/12/2025

Net result

1,5 M €

-1.5% YoY

Revenue

956,5 k €

-3.8% YoY

Equity

2,8 M €

+16.1% YoY

What does IVAR GROUP do?

IVAR GROUP is a Public limited company incorporated in 1948. Its main activity is: Wholesale of hardware, plumbing and heating equipment and supplies. Its registered office is in Aartselaar.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0404.933.032

Incorporation

14/10/1948

Legal form

Public limited company

Registered office

Kontichsesteenweg 53
2630 Aartselaar · FlandreSee on map

Contributed capital

200 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

46741Wholesale of hardware, plumbing and heating equipment and supplies· main 46841Wholesale trade, except of motor vehicles and motorcycles 51541Air transport

Joint committees (3)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	956,5 k €	-3.8%	993,9 k €	-17.2%	1,2 M €	-15.2%	1,4 M €	+10.5%	1,3 M €	+4.9%	1,2 M €	-28.1%	1,7 M €	-18.7%	2,1 M €	-1.7%	2,1 M €	+35.7%	1,6 M €	-21.1%	2 M €	+1.7%	2 M €	+1.5%	1,9 M €	-7.2%	2,1 M €	-1.1%	2,1 M €	-0.7%	2,1 M €		–		–		–		–
EBITDA	177,1 k €	-1.4%	179,6 k €	+81.2%	99,1 k €	-75.5%	404,9 k €	+13.2%	357,7 k €	+152%	141,9 k €	-57.3%	332,6 k €	+168%	-492,2 k €	-200%	-163,8 k €	+19.1%	-202,4 k €	+8.2%	-220,5 k €	-51.2%	-145,9 k €	+25.3%	-195,4 k €	-164%	306,9 k €	-8.6%	335,8 k €	-40.3%	562,2 k €	+115%	262,1 k €	-53.6%	564,7 k €	-3.9%	587,4 k €	-14.8%	689,2 k €
Operating result	176,1 k €	-4.0%	183,4 k €	+79.6%	102,1 k €	-75.3%	412,9 k €	+12.2%	368,1 k €	+216%	116,6 k €	-65.0%	332,6 k €	+168%	-492,2 k €	-154%	-194 k €	+4.3%	-202,8 k €	-158%	-78,6 k €	+72.9%	-290,1 k €	-46.7%	-197,7 k €	-165%	305 k €	-8.4%	332,9 k €	-40.7%	561,5 k €	+122%	252,4 k €	-53.1%	538,4 k €	-3.6%	558,4 k €	-15.4%	659,8 k €
Net result	1,5 M €	-1.5%	1,5 M €	-51.7%	3,1 M €	+28.0%	2,4 M €	-56.7%	5,6 M €	+604%	797,1 k €	-70.4%	2,7 M €	+120%	1,2 M €	-20.0%	1,5 M €	-44.5%	2,8 M €	+69.8%	1,6 M €	+16.0%	1,4 M €	-17.8%	1,7 M €	-11.4%	1,9 M €	-0.7%	1,9 M €	-7.4%	2,1 M €	+11.3%	1,9 M €	-2.0%	1,9 M €	+8.2%	1,8 M €	+18.5%	1,5 M €
Balance sheet
Equity	2,8 M €	+16.1%	2,4 M €	+0.1%	2,4 M €	-7.2%	2,6 M €	+54.9%	1,7 M €	-23.0%	2,2 M €	-51.6%	4,6 M €	+27.0%	3,6 M €	-26.2%	4,9 M €	+0.6%	4,8 M €	-0.2%	4,8 M €	-7.7%	5,2 M €	-8.3%	5,7 M €	+3.7%	5,5 M €	+0.9%	5,5 M €	+1.1%	5,4 M €	+4.2%	5,2 M €	+4.6%	5 M €	+5.7%	4,7 M €	+6.1%	4,4 M €
Total assets	4 M €	-3.4%	4,2 M €	-2.2%	4,3 M €	-18.5%	5,2 M €	-13.3%	6 M €	+29.4%	4,7 M €	+1.4%	4,6 M €	-10.9%	5,2 M €	-19.3%	6,4 M €	+0.7%	6,4 M €	-7.5%	6,9 M €	-3.7%	7,2 M €	-1.9%	7,3 M €	-2.2%	7,5 M €	-0.2%	7,5 M €	+0.5%	7,4 M €	+6.1%	7 M €	+4.8%	6,7 M €	+4.3%	6,4 M €	+10.8%	5,8 M €
Cash	390,5 k €	+66.0%	235,3 k €	+31.4%	179 k €	+543%	27,8 k €	-98.7%	2,1 M €	+309%	520,2 k €	+10.1%	472,5 k €	+32.4%	356,8 k €	-42.1%	616,5 k €	-52.5%	1,3 M €	+84.3%	703,5 k €	-9.1%	773,5 k €	+82.8%	423,1 k €	-32.1%	622,7 k €	+12.9%	551,6 k €	-36.8%	873 k €	+311%	212,3 k €	-86.5%	1,6 M €	+272%	423,1 k €	-74.4%	1,7 M €
Debts	1,2 M €	-30.9%	1,7 M €	-5.3%	1,8 M €	-29.8%	2,6 M €	-39.8%	4,4 M €	+76.2%	2,5 M €	+4482%	53,9 k €	-96.6%	1,6 M €	+2.6%	1,5 M €	+0.8%	1,5 M €	-24.8%	2 M €	+7.2%	1,9 M €	+21.5%	1,6 M €	-19.0%	1,9 M €	-3.2%	2 M €	-1.1%	2 M €	+11.7%	1,8 M €	+5.2%	1,7 M €	+0.4%	1,7 M €	+25.8%	1,4 M €
Other
Workforce	–		–		1,0 ETP	0.0%	1,0 ETP	-16.7%	1,2 ETP	-33.3%	1,8 ETP	0.0%	1,8 ETP	0.0%	1,8 ETP	0.0%	1,8 ETP	0.0%	1,8 ETP	0.0%	1,8 ETP	-5.3%	1,9 ETP	-17.4%	2,3 ETP	-28.1%	3,2 ETP	+6.7%	3,0 ETP	0.0%	3,0 ETP	0.0%	3,0 ETP	-23.1%	3,9 ETP	+30.0%	3,0 ETP	0.0%	3,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 20 ended

Active mandates

B.H. SRL BO

Director · since 16 octobre 2024 · until 12 juin 2030

Represented by Stefano Bertolotti

Active

IVAR SpA BO

Director · since 16 octobre 2024 · until 12 juin 2030

Represented by Paolo Bertolotti

Active

Jerry De Weerdt

Director · since 16 octobre 2024 · until 12 juin 2030

Active

Luc Van Onckelen

Managing director · since 16 octobre 2024 · until 12 juin 2030

Active

Ended mandates

Jerry De Weerdt

Director · since 02 janvier 2019 · until 02 janvier 2025

Ended

Luc Van Onckelen

Managing director · since 02 janvier 2019 · until 02 janvier 2025

Ended

PAOLO BERTOLLOTI

Director · since 02 janvier 2019 · until 02 janvier 2025

Ended

Paolo Bertolotti

Director · since 02 janvier 2019 · until 02 janvier 2025

Ended

At this address

Other companies at this address

Company	CBE no.
BEGETUBE● Active	0420.097.201
LUVON● Active	0884.677.315

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	24/06/2026	01/07/2025	18/06/2024	23/06/2023	29/06/2022	25/06/2021
General meeting	11/06/2026	12/06/2025	13/06/2024	08/06/2023	09/06/2022	10/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	11/06/2026	24/06/2026	Dutch	PDF
Full model	31/12/2024	12/06/2025	01/07/2025	Dutch	PDF
Full model	31/12/2023	13/06/2024	18/06/2024	Dutch	PDF
Full model	31/12/2022	08/06/2023	23/06/2023	Dutch	PDF
Full model	31/12/2021	09/06/2022	29/06/2022	Dutch	PDF
Full model	31/12/2020	10/06/2021	25/06/2021	Dutch	PDF
Full model	31/12/2019	11/06/2020	02/07/2020	Dutch	PDF
Full model	31/12/2018	13/06/2019	20/06/2019	Dutch	PDF
Full model	31/12/2017	14/06/2018	20/06/2018	Dutch	PDF
Full model	31/12/2016	08/06/2017	27/06/2017	Dutch	PDF
Full model	31/12/2015	09/06/2016	14/06/2016	Dutch	PDF
Full model	31/12/2014	11/06/2015	29/06/2015	Dutch	PDF
Full model	31/12/2013	12/06/2014	22/07/2014	Dutch	PDF
Full model	31/12/2012	13/06/2013	13/06/2013	Dutch	PDF
Full model	31/12/2011	14/06/2012	24/07/2012	Dutch	PDF
Full modelCorrection	31/12/2010	09/06/2011	06/09/2011	Dutch	PDF
Full model	31/12/2010	09/06/2011	24/06/2011	Dutch	PDF
Abridged model	31/12/2009	09/06/2010	23/06/2010	Dutch	PDF
Abridged model	31/12/2008	10/06/2009	19/06/2009	Dutch	PDF
Abridged model	31/12/2007	12/06/2008	26/06/2008	Dutch	PDF
Abridged model	31/12/2006	08/06/2007	18/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 4 active · 20 ended

Active mandates

B.H. SRL BO

Director · since 16 octobre 2024 · until 12 juin 2030

Represented by Stefano Bertolotti

Active

IVAR SpA BO

Director · since 16 octobre 2024 · until 12 juin 2030

Represented by Paolo Bertolotti

Active

Jerry De Weerdt

Director · since 16 octobre 2024 · until 12 juin 2030

Active

Luc Van Onckelen

Managing director · since 16 octobre 2024 · until 12 juin 2030

Active

Ended mandates

Jerry De Weerdt

Director · since 02 janvier 2019 · until 02 janvier 2025

Ended

Luc Van Onckelen

Managing director · since 02 janvier 2019 · until 02 janvier 2025

Ended

PAOLO BERTOLLOTI

Director · since 02 janvier 2019 · until 02 janvier 2025

Ended

Paolo Bertolotti

Director · since 02 janvier 2019 · until 02 janvier 2025

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/12/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/10/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/08/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/03/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/06/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/06/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/05/2014
ONTSLAGEN - BENOEMINGEN
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 20251,5 M €↓
2024
Annual accounts 20241,5 M €↓
2023
Annual accounts 20233,1 M €↑
2022
Annual accounts 20222,4 M €↓
2021
Annual accounts 20215,6 M €↑
2020
Annual accounts 2020797,1 k €↓
2019
Annual accounts 20192,7 M €↑
2018
Annual accounts 20181,2 M €↓
2017
Annual accounts 20171,5 M €↓
2016
Annual accounts 20162,8 M €↑
2015
Annual accounts 20151,6 M €↑
2014
Annual accounts 20141,4 M €↓
2013
Annual accounts 20131,7 M €↓
2012
Annual accounts 20121,9 M €↓
2011
Annual accounts 20111,9 M €↓
2010
Annual accounts 20102,1 M €↑
2009
Annual accounts 20091,9 M €↓
2008
Annual accounts 20081,9 M €↑
2007
Annual accounts 20071,8 M €↑
2006
Annual accounts 20061,5 M €
14/10/1948
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

IVAR GROUP

Overview

What does IVAR GROUP do?

Trend over 20 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