ACTIVE

IBG Security

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Financial year 2025 · closed on 31/12/2025

Net result

102,3 k €

-22.7% YoY

Gross margin

987 k €

-0.6% YoY

Equity

747,3 k €

+6.0% YoY

Workforce

10,4 ETP

+2.0% YoY

What does IBG Security do?

IBG Security is a Private limited company incorporated in 1984. Its main activity is: Electrical installation. Its registered office is in Forest. It employs on average 10,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0425.845.539

Incorporation

29/05/1984

Legal form

Private limited company

Registered office

Avenue Mozart 46
1190 Forest · BruxellesSee on map

Contributed capital

27 516,18 €

Latest accounts

31/12/2025

Average workforce

10,4 ETP

Activities (NACE)

43211Electrical installation· main 43211Electrical installation 45310Wholesale trade of motor vehicle parts and accessories

Joint committees (2)

14901
218

Contacts

3 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2010		2009		2008		2007		2006
Income statement
Gross margin	987 k €	-0.6%	993,2 k €	+15.0%	863,6 k €	-6.1%	920,1 k €	+12.2%	820,1 k €	+8.8%	754 k €	+5.6%	714,1 k €	-14.4%	833,8 k €	-2.1%	852,1 k €	+17.2%	727,3 k €	+37.8%	527,7 k €	+1.5%	519,7 k €	-11.7%	588,3 k €	-8.6%	643,8 k €	+10.1%	584,8 k €	-2.6%	600,4 k €	+8.2%	554,7 k €	-7.5%	599,9 k €	+4.6%	573,5 k €
EBITDA	181,9 k €	-15.7%	215,8 k €	+425%	41,1 k €	-56.3%	94,1 k €	-26.7%	128,3 k €	-8.8%	140,7 k €	+95.1%	72,1 k €	-64.8%	204,9 k €	-1.2%	207,3 k €	+15.3%	179,9 k €	+160%	69,3 k €	-44.5%	124,8 k €	+2.5%	121,7 k €	-23.4%	158,9 k €	+45.0%	109,5 k €	+30.6%	83,9 k €	-4.3%	87,6 k €	-54.7%	193,6 k €	+3.7%	186,6 k €
Operating result	141,4 k €	-21.2%	179,5 k €	+1700%	10 k €	-83.9%	61,8 k €	-27.2%	84,9 k €	-7.3%	91,7 k €	+2577%	3,4 k €	-97.4%	132,1 k €	+14.5%	115,4 k €	-3.6%	119,7 k €	+738%	14,3 k €	-81.0%	75,1 k €	+2.7%	73,1 k €	-30.8%	105,6 k €	+101%	52,5 k €	+142%	21,7 k €	+38.6%	15,7 k €	-88.9%	141,6 k €	-2.2%	144,8 k €
Net result	102,3 k €	-22.7%	132,3 k €	+1506%	-9,4 k €	-122%	42,5 k €	-17.1%	51,3 k €	-23.0%	66,6 k €	-2.2%	68,1 k €	-30.2%	97,6 k €	-59.8%	243 k €	+262%	67,2 k €	+2575%	2,5 k €	-93.8%	40,3 k €	-52.8%	85,4 k €	+6.8%	79,9 k €	+110%	38,1 k €	+13.9%	33,5 k €	+135%	14,3 k €	-85.6%	98,8 k €	-46.9%	186 k €
Balance sheet
Equity	747,3 k €	+6.0%	705,1 k €	+11.5%	632,2 k €	-9.4%	697,6 k €	-1.6%	709,2 k €	-0.4%	712 k €	+2.0%	698,3 k €	-9.8%	774,2 k €	+14.4%	676,6 k €	+56.1%	433,6 k €	+18.3%	366,4 k €	+0.7%	363,9 k €	+12.5%	323,6 k €	+19.3%	271,2 k €	+46.3%	185,3 k €	+25.9%	147,2 k €	-10.1%	163,7 k €	-13.6%	189,5 k €	+45.0%	130,7 k €
Total assets	942 k €	+1.1%	931,8 k €	+10.8%	840,6 k €	-14.4%	981,8 k €	-7.7%	1,1 M €	-3.2%	1,1 M €	-6.0%	1,2 M €	-6.2%	1,2 M €	-0.2%	1,2 M €	+15.2%	1,1 M €	+3.5%	1 M €	-0.2%	1,1 M €	-0.7%	1,1 M €	+14.6%	922,7 k €	+15.6%	798,3 k €	-6.3%	851,8 k €	-1.1%	861,4 k €	+2.2%	843,2 k €	+12.6%	748,7 k €
Cash	458,1 k €	+20.4%	380,4 k €	-9.3%	419,2 k €	+4.3%	401,8 k €	-39.3%	662,1 k €	+0.3%	660,3 k €	+16.9%	564,6 k €	-21.3%	717,7 k €	+7.8%	665,8 k €	+38.0%	482,5 k €	+19.4%	404,1 k €	+21.2%	333,4 k €	-22.5%	430,1 k €	+15.7%	371,8 k €	+178%	133,6 k €	+140%	55,5 k €	-52.3%	116,5 k €	+45.1%	80,3 k €	+1.4%	79,1 k €
Debts	184,3 k €	-14.5%	215,4 k €	+4.4%	206,3 k €	-27.4%	284,2 k €	+5.9%	268,4 k €	-10.7%	300,6 k €	-21.8%	384,3 k €	-0.4%	385,9 k €	+10.4%	349,7 k €	+19.8%	291,9 k €	-9.6%	322,9 k €	-1.5%	327,9 k €	-6.4%	350,4 k €	+35.1%	259,5 k €	+3.7%	250,3 k €	-29.4%	354,3 k €	-3.2%	366,1 k €	+10.6%	331,1 k €	-6.9%	355,5 k €
Other
Workforce	10,4 ETP	+2.0%	10,2 ETP	-10.5%	11,4 ETP	-14.3%	13,3 ETP	+9.0%	12,2 ETP	+11.9%	10,9 ETP	-1.8%	11,1 ETP	0.0%	11,1 ETP	+2.8%	10,8 ETP	+14.9%	9,4 ETP	+23.7%	7,6 ETP	+7.0%	7,1 ETP	-5.3%	7,5 ETP	-6.3%	8,0 ETP	-4.8%	8,4 ETP	-11.6%	9,5 ETP	+11.8%	8,5 ETP	+4.9%	8,1 ETP	-1.2%	8,2 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 · 3 ended

Active mandates

Alexia Vandenitte

Director · since 01 octobre 2025

Active

Anne Ruys

Director · since 01 octobre 2025

Active

David Vandenitte

Managing director · since 01 octobre 2025

Active

Michel Vandenitte

Director · until 06 octobre 2025

Active

Ended mandates

Michel Monsieur VANDENITTE

Manager

Ended

Michel Vandenitte

Director

Ended

Michel VANDENITTE

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
MVDN INVESTMENT● Active	0724.876.842

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	19/08/2026	09/07/2025	05/07/2024	03/07/2023	22/08/2022	11/10/2021
General meeting	30/06/2026	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	19/08/2026	French	PDF
Abridged model	31/12/2024	30/06/2025	09/07/2025	French	PDF
Abridged model	31/12/2023	30/06/2024	05/07/2024	French	PDF
Abridged model	31/12/2022	30/06/2023	03/07/2023	French	PDF
Abridged model	31/12/2021	30/06/2022	22/08/2022	French	PDF
Abridged model	31/12/2020	30/06/2021	11/10/2021	French	PDF
Abridged model	31/12/2019	30/06/2020	27/10/2020	French	PDF
Abridged model	31/12/2018	01/07/2019	14/08/2019	French	PDF
Abridged model	31/12/2017	30/06/2018	30/08/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	30/08/2017	French	PDF
Abridged model	31/12/2015	30/06/2016	30/08/2016	French	PDF
Abridged model	31/12/2014	30/06/2015	30/10/2015	French	PDF
Abridged model	31/12/2013	27/03/2015	27/03/2015	French	PDF
Abridged model	31/12/2012	05/09/2013	30/09/2013	French	PDF
Abridged model	31/12/2010	02/11/2011	07/11/2012	French	PDF
Abridged model	31/12/2009	14/11/2010	15/11/2010	French	PDF
Abridged model	31/12/2008	07/12/2009	15/11/2010	French	PDF
Abridged model	31/12/2007	25/11/2008	30/11/2008	French	PDF
Abridged model	31/12/2006	30/06/2007	03/10/2007	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 · 4 active · 3 ended

Active mandates

Alexia Vandenitte

Director · since 01 octobre 2025

Active

Anne Ruys

Director · since 01 octobre 2025

Active

David Vandenitte

Managing director · since 01 octobre 2025

Active

Michel Vandenitte

Director · until 06 octobre 2025

Active

Ended mandates

Michel Monsieur VANDENITTE

Manager

Ended

Michel Vandenitte

Director

Ended

Michel VANDENITTE

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/07/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates24/12/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates20/10/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates07/12/2023
MODIFICATION FORME JURIDIQUE - DENOMINATION - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
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 2025102,3 k €↓
2024
Annual accounts 2024132,3 k €↑
2023
Annual accounts 2023-9,4 k €↓
2023
Name changeIBG Security
2022
Annual accounts 202242,5 k €↓
2021
Annual accounts 202151,3 k €↓
2021
Name changeIBG
2020
Annual accounts 202066,6 k €↓
2019
Annual accounts 201968,1 k €↓
2018
Annual accounts 201897,6 k €↓
2017
Annual accounts 2017243 k €↑
2016
Annual accounts 201667,2 k €↑
2015
Annual accounts 20152,5 k €↓
2014
Annual accounts 201440,3 k €↓
2013
Annual accounts 201385,4 k €↑
2012
Annual accounts 201279,9 k €↑
2010
Annual accounts 201038,1 k €↑
2009
Annual accounts 200933,5 k €↑
2008
Annual accounts 200814,3 k €↓
2007
Annual accounts 200798,8 k €↓
2006
Annual accounts 2006186 k €
2006
Name changeI.B.G.
29/05/1984
IncorporationPrivate 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

IBG Security

Overview

What does IBG Security 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