ACTIVE

Iepamag

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Financial year 2025 · closed on 31/12/2025

Net result

-115,4 k €

-497.0% YoY

Gross margin

52,7 k €

-39.8% YoY

Equity

1,6 M €

-8.7% YoY

What does Iepamag do?

Iepamag is a Public limited company incorporated in 1981. Its registered office is in Binche.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0421.415.213

Incorporation

03/02/1981

Legal form

Public limited company

Registered office

Rue aux Mourdreux(WAU) 23
7131 Binche · WallonieSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2025

Joint committees (2)

Signals

Solid equityLow riskGood liquidityPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	52,7 k €	-39.8%	87,6 k €	-95.2%	1,8 M €	+80.9%	1 M €	-19.4%	1,2 M €	+22.4%	1 M €	-1.3%	1 M €	-0.4%	1 M €	+34.1%	769 k €	-30.4%	1,1 M €	-10.6%	1,2 M €	+19.7%	1 M €	+13.7%	908 k €	-17.6%	1,1 M €	-0.0%	1,1 M €	-2.9%	1,1 M €	+2.7%	1,1 M €	-6.7%	1,2 M €	-8.2%	1,3 M €
EBITDA	43,9 k €	-42.1%	75,9 k €	-93.7%	1,2 M €	+738%	142,5 k €	-64.0%	396 k €	+120%	180,4 k €	-7.4%	194,9 k €	+17.5%	165,9 k €	+476%	28,8 k €	-87.1%	223,4 k €	-29.1%	314,9 k €	+302%	78,4 k €	+717%	9,6 k €	-94.4%	172,9 k €	-15.9%	205,6 k €	-15.9%	244,5 k €	+0.7%	242,8 k €	-18.9%	299,3 k €	-24.6%	397 k €
Operating result	-58,1 k €	-3174%	-1,8 k €	-100%	1,2 M €	+1625%	-78,3 k €	-146%	170,3 k €	+422%	-52,9 k €	-39.4%	-37,9 k €	+38.2%	-61,4 k €	+67.8%	-190,7 k €	-264%	116,5 k €	-49.3%	229,8 k €	+226%	-182,7 k €	+26.5%	-248,4 k €	-188%	-86,2 k €	-436%	-16,1 k €	-439%	4,7 k €	+114%	-34,9 k €	-288%	18,6 k €	-17.5%	22,5 k €
Net result	-115,4 k €	-497%	-19,3 k €	-102%	903,4 k €	+1533%	-63,1 k €	-166%	95,5 k €	+311%	-45,2 k €	-24.4%	-36,3 k €	-196%	-12,3 k €	-101%	824,3 k €	+1179%	64,4 k €	-67.3%	196,8 k €	+211%	-177,1 k €	-150%	-70,8 k €	+19.6%	-88,1 k €	-675%	-11,4 k €	-551%	2,5 k €	+105%	-46,1 k €	-984%	-4,2 k €	-121%	20,4 k €
Balance sheet
Equity	1,6 M €	-8.7%	1,7 M €	-14.9%	2 M €	+74.5%	1,2 M €	-5.2%	1,2 M €	+8.5%	1,1 M €	-3.9%	1,2 M €	-3.0%	1,2 M €	-13.4%	1,4 M €	+147%	560,2 k €	+3.6%	540,8 k €	+57.2%	344 k €	-34.0%	521,1 k €	-12.0%	591,9 k €	-13.0%	679,9 k €	-1.6%	691,3 k €	+0.4%	688,8 k €	-6.3%	734,8 k €	-0.6%	739,1 k €
Total assets	1,9 M €	-8.0%	2 M €	-13.9%	2,4 M €	-0.2%	2,4 M €	-13.4%	2,7 M €	+0.2%	2,7 M €	-7.9%	3 M €	-5.6%	3,1 M €	-3.3%	3,2 M €	+93.8%	1,7 M €	+16.5%	1,4 M €	+0.4%	1,4 M €	-18.0%	1,7 M €	-11.0%	2 M €	+11.6%	1,8 M €	-11.0%	2 M €	-7.6%	2,1 M €	-6.2%	2,3 M €	-17.4%	2,8 M €
Cash	194,1 k €	+7.3%	180,9 k €	-84.0%	1,1 M €	+211%	363,7 k €	-32.6%	539,8 k €	+118%	247,5 k €	-3.3%	255,8 k €	+24.7%	205,2 k €	-26.0%	277,5 k €	+55.8%	178,1 k €	+39.7%	127,5 k €	-50.3%	256,4 k €	-12.0%	291,4 k €	-3.8%	302,9 k €	+5.8%	286,4 k €	-1.5%	290,8 k €	+26.7%	229,5 k €	+31.5%	174,5 k €	-35.1%	268,8 k €
Debts	22,2 k €	+11.0%	20 k €	-27.5%	27,6 k €	-97.4%	1,1 M €	-18.9%	1,3 M €	-2.6%	1,4 M €	-8.0%	1,5 M €	-2.2%	1,5 M €	+7.3%	1,4 M €	+28.9%	1,1 M €	+24.8%	882,2 k €	-17.9%	1,1 M €	-9.4%	1,2 M €	-9.7%	1,3 M €	+31.4%	999,3 k €	-14.5%	1,2 M €	-12.9%	1,3 M €	-5.2%	1,4 M €	-22.4%	1,8 M €
Other
Workforce	–		–		17,4 ETP	-35.3%	26,9 ETP	+3.1%	26,1 ETP	-1.5%	26,5 ETP	-1.9%	27,0 ETP	-2.5%	27,7 ETP	+5.7%	26,2 ETP	-9.0%	28,8 ETP	-2.0%	29,4 ETP	-1.3%	29,8 ETP	+1.4%	29,4 ETP	-3.9%	30,6 ETP	+7.7%	28,4 ETP	-6.3%	30,3 ETP	-1.9%	30,9 ETP	-3.1%	31,9 ETP	-9.6%	35,3 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 · 2 active · 5 ended

Active mandates

Etienne Magoche

Mandate

Active

Monique Mathy

Mandate

Active

Ended mandates

Etienne Magoche

Managing director

Ended

Laurent Magoche

Mandate

Ended

Laurent Magoche

Director

Ended

Monique Magoche

Director

Ended

At this address

Other companies at this address

Company	CBE no.
AGRYMAG● Active	0429.360.701

Annual accounts

Full financial information

	2025	2024	2022	2021	2020	2019
Type of account	Micro model	Micro model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2025	31/12/2024	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	28/08/2026	31/08/2025	21/03/2024	21/11/2022	31/08/2021	30/11/2020
General meeting	28/05/2026	29/05/2025	31/05/2023	30/05/2022	31/05/2021	25/05/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	28/05/2026	28/08/2026	French	PDF
Micro model	31/12/2024	29/05/2025	31/08/2025	French	PDF
Abridged model	31/12/2022	31/05/2023	21/03/2024	French	PDF
Abridged model	31/12/2021	30/05/2022	21/11/2022	French	PDF
Abridged model	31/12/2020	31/05/2021	31/08/2021	French	PDF
Abridged model	31/12/2019	25/05/2020	30/11/2020	French	PDF
Abridged model	31/12/2018	27/05/2019	20/12/2019	French	PDF
Abridged model	31/12/2017	28/05/2018	23/10/2018	French	PDF
Abridged model	31/12/2016	29/05/2017	29/09/2017	French	PDF
Abridged model	31/12/2015	30/05/2016	30/09/2016	French	PDF
Abridged model	31/12/2014	25/05/2015	28/09/2015	French	PDF
Abridged model	31/12/2013	26/05/2014	31/08/2014	French	PDF
Abridged model	31/12/2012	27/05/2013	13/09/2013	French	PDF
Abridged model	31/12/2011	28/05/2012	31/08/2012	French	PDF
Abridged model	31/12/2010	30/05/2011	24/08/2011	French	PDF
Abridged model	31/12/2009	31/05/2010	24/08/2010	French	PDF
Abridged model	31/12/2008	25/05/2009	28/08/2009	French	PDF
Abridged model	31/12/2007	29/07/2008	29/08/2008	French	PDF
Abridged model	31/12/2006	29/06/2007	24/08/2007	French	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 · 2 active · 5 ended

Active mandates

Etienne Magoche

Mandate

Active

Monique Mathy

Mandate

Active

Ended mandates

Etienne Magoche

Managing director

Ended

Laurent Magoche

Mandate

Ended

Laurent Magoche

Director

Ended

Monique Magoche

Director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/07/2023
DEMISSIONS, NOMINATIONS
PDF
Registered office11/07/2023
SIEGE SOCIAL
PDF
Capital / shares19/06/2017
CAPITAL, ACTIONS
PDF
Mandates09/11/2015
DEMISSIONS, NOMINATIONS
PDF
Mandates24/10/2007
DEMISSIONS, NOMINATIONS
PDF
Capital / shares26/01/2006
CAPITAL, ACTIONS - DIVERS
PDF
Registered office27/04/2004
SIEGE SOCIAL
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 2025-115,4 k €↓
2024
Annual accounts 2024-19,3 k €↓
2022
Annual accounts 2022903,4 k €↑
2021
Annual accounts 2021-63,1 k €↓
2020
Annual accounts 202095,5 k €↑
2019
Annual accounts 2019-45,2 k €↓
2018
Annual accounts 2018-36,3 k €↓
2017
Annual accounts 2017-12,3 k €↓
2016
Annual accounts 2016824,3 k €↑
2015
Annual accounts 201564,4 k €↓
2014
Annual accounts 2014196,8 k €↑
2013
Annual accounts 2013-177,1 k €↓
2012
Annual accounts 2012-70,8 k €↑
2011
Annual accounts 2011-88,1 k €↓
2010
Annual accounts 2010-11,4 k €↓
2009
Annual accounts 20092,5 k €↑
2008
Annual accounts 2008-46,1 k €↓
2007
Annual accounts 2007-4,2 k €↓
2006
Annual accounts 200620,4 k €
03/02/1981
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

Iepamag

Overview

What does Iepamag do?

Trend over 19 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