ACTIVE

Inokura

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Financial year 2025 · Closed on 31/12/2025

Net result188,4 k €+417,3 %over 1 year
Revenue6,4 M €+7,5 %over 1 year
Equity808,2 k €+30,4 %over 1 year
Workforce25,8 ETP+8,4 %over 1 year

Identity

Source · BCE/KBO

Inokura is a Public limited company incorporated in 1983. Its main activity is: Research and experimental development on natural sciences and engineering. Its registered office is in Liège. It employs on average 25,8 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0424.658.872
Incorporation
12/09/1983
Legal form
Public limited company
Registered office
Avenue de l'Hôpital 1
4000 Liège · WallonieSee on map
Contributed capital
347 390,00 €
Latest accounts
31/12/2025
Average workforce
25,8 ETP
Joint committees (2)
  • 200
  • 218
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 23 filings

Trend over 16 financial years

20252024202320222021
Income statement
Revenue6,4 M €6 M €5,1 M €4,1 M €4,7 M €
EBITDA349,7 k €95,2 k €1 M €-289 k €1 M €
Operating result310,5 k €62 k €915,2 k €-456,1 k €1 M €
Net result188,4 k €36,4 k €777,5 k €-460,7 k €957,6 k €
Balance sheet
Equity808,2 k €619,9 k €583,5 k €-194 k €266,7 k €
Total assets2,3 M €2,2 M €2,4 M €1,6 M €1,1 M €
Cash1,7 M €897,6 k €646,3 k €73,2 k €443,8 k €
Debts1,2 M €1,3 M €1,5 M €1,6 M €794 k €
Other
Workforce25,8 ETP23,8 ETP22,0 ETP20,1 ETP15,4 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 28 ended

Active mandates

Anja VOLDERS

Director · since 23 mai 2024 · until 20 avril 2029

Active
Etienne BAUDOUX

Director · since 23 mai 2024 · until 20 avril 2029

Active
Laurence CARABIN

Director · since 23 mai 2024 · until 20 avril 2029

Active
Marc DE PAOLI

Director · since 23 mai 2024 · until 20 avril 2029

Active
Michel MOUTSCHEN

Director · since 23 mai 2024 · until 20 avril 2029

Active

Ended mandates

Etienne BAUDOUX

Director · since 21 avril 2023 · until 23 avril 2027

Ended
Etienne BAUDOUX

Director · since 21 avril 2023 · until 20 avril 2029

Ended
Michel MOUTSCHEN

Director · since 21 avril 2023 · until 23 avril 2027

Ended
Michel MOUTSCHEN

Director · since 21 avril 2023 · until 20 avril 2029

Ended

Other companies at this address

Avenue de l'Hôpital 1 4000 Liège
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0741.786.813
Belgian Bone Club● Active
0433.706.301
Belgian Society for Advancement of Cytometry● Active
0457.350.347
Bureau International d'Audiophonologie● Active
0408.297.645
CENTRE ANTICANCEREUX PRES L'UNIVERSITE DE LIEGE● Active
0410.083.534
Centre hospitalier universitaire de Liège● Active
0232.988.060
CHU-IMMO● Active
0768.320.073
CM4Cure● Active
0765.658.810
COLLARD XAVIER KINESITHERAPIE● Active
0762.550.553
Fondation Léon FREDERICQ - Fondation Hospitalo-Universitaire à Liège● Active
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THERAtRAME● Active
0786.448.581

Full financial information

Source · NBB
202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date28/05/202611/06/202530/05/202422/06/202316/11/202212/08/2021
General meeting27/04/202628/04/202522/04/202421/04/202328/04/202226/04/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 23 filings
ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202527/04/202628/05/2026FrenchPDF
Abridged model31/12/202428/04/202511/06/2025FrenchPDF
Abridged model31/12/202322/04/202430/05/2024FrenchPDF
Abridged model31/12/202221/04/202322/06/2023FrenchPDF
Abridged modelCorrection31/12/202128/04/202216/11/2022FrenchPDF
Abridged model31/12/202128/04/202210/06/2022FrenchPDF
Abridged modelCorrection31/12/202026/04/202112/08/2021FrenchPDF
Abridged model31/12/202026/04/202125/06/2021FrenchPDF
Abridged model31/12/201906/05/202025/06/2020FrenchPDF
Abridged model31/12/201829/04/201914/06/2019FrenchPDF
Abridged model31/12/201715/05/201827/06/2018FrenchPDF
Abridged modelCorrection31/12/201629/05/201726/04/2018FrenchPDF
Abridged model31/12/201629/05/201729/06/2017FrenchPDF
Abridged model31/12/201525/04/201613/05/2016FrenchPDF
Abridged model31/12/201423/11/201511/12/2015FrenchPDF
Abridged model31/12/201312/08/201422/10/2015FrenchPDF
Abridged model31/12/201226/11/201303/12/2013FrenchPDF
Abridged model31/12/201119/09/201201/10/2012FrenchPDF
Abridged model31/12/200915/06/201025/06/2010FrenchPDF
Abridged model31/12/200829/05/200930/06/2009FrenchPDF
Abridged modelCorrection31/12/200726/06/200804/11/2008FrenchPDF
Abridged model31/12/200726/06/200827/06/2008FrenchPDF
Abridged model31/12/200612/06/200726/06/2007FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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.

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 28 ended

Active mandates

Anja VOLDERS

Director · since 23 mai 2024 · until 20 avril 2029

Active
Etienne BAUDOUX

Director · since 23 mai 2024 · until 20 avril 2029

Active
Laurence CARABIN

Director · since 23 mai 2024 · until 20 avril 2029

Active
Marc DE PAOLI

Director · since 23 mai 2024 · until 20 avril 2029

Active
Michel MOUTSCHEN

Director · since 23 mai 2024 · until 20 avril 2029

Active

Ended mandates

Etienne BAUDOUX

Director · since 21 avril 2023 · until 23 avril 2027

Ended
Etienne BAUDOUX

Director · since 21 avril 2023 · until 20 avril 2029

Ended
Michel MOUTSCHEN

Director · since 21 avril 2023 · until 23 avril 2027

Ended
Michel MOUTSCHEN

Director · since 21 avril 2023 · until 20 avril 2029

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates22/04/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates17/03/2025
    DENOMINATION
    PDF
  • Mandates29/11/2023
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - SIEGE SOCIAL - ADRESSE AUTRE QUE SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates07/08/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates20/07/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates28/09/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates17/07/2020
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates27/08/2018
    DEMISSIONS, NOMINATIONS
    PDF

Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025188,4 k €↑
  2. 2025
    Name changeInokura
  3. 2024
    Annual accounts 202436,4 k €↓
  4. 2023
    Annual accounts 2023777,5 k €↑
  5. 2022
    Annual accounts 2022-460,7 k €↓
  6. 2021
    Annual accounts 2021957,6 k €↑
  7. 2021
    Name changeADVANCED TECHNOLOGY CORPORATION
  8. 2020
    Annual accounts 2020-611 k €↓
  9. 2019
    Annual accounts 2019-2,6 k €↓
  10. 2018
    Annual accounts 2018908,3 k €↑
  11. 2017
    Annual accounts 2017-17,2 k €↑
  12. 2016
    Annual accounts 2016-691,3 k €↑
  13. 2015
    Annual accounts 2015-737,3 k €↓
  14. 2014
    Annual accounts 2014-496,6 k €↓
  15. 2013
    Annual accounts 201313 k €↓
  16. 2012
    Annual accounts 201218,6 k €↑
  17. 2011
    Annual accounts 2011-54,6 k €↑
  18. 2008
    Annual accounts 2008-101,6 k €
  19. 12/09/1983
    IncorporationPublic limited company