ACTIVE

I.C.S.L.

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Financial year 2025 · closed on 31/12/2025

Net result

322 k €

+29.5% YoY

Gross margin

449,2 k €

+8.1% YoY

Equity

4,9 M €

+7.1% YoY

Workforce

0,0 ETP

What does I.C.S.L. do?

I.C.S.L. is a Private limited company incorporated in 1985. Its registered office is in De Haan.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0427.038.738

Incorporation

26/01/1985

Legal form

Private limited company

Registered office

Grotestraat 155
8421 De Haan · FlandreSee on map

Contributed capital

1 624 000,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Signals

ProfitableSolid equityLow riskGood liquidityPositive 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
Gross margin	449,2 k €	+8.1%	415,6 k €	-1.4%	421,4 k €	+18.6%	355,3 k €	+3.5%	343,4 k €	+0.5%	341,5 k €	-13.7%	395,7 k €	+113%	185,4 k €	-13.1%	213,2 k €	-12.5%	243,7 k €	-3.8%	253,2 k €	+55.8%	162,5 k €	+12.6%	144,3 k €	-13.2%	166,4 k €	+37.7%	120,8 k €	+9.5%	110,4 k €	+26.1%	87,6 k €	-39.1%	143,8 k €	+21.6%	118,3 k €	+99.7%	59,2 k €
EBITDA	424,3 k €	+7.8%	393,5 k €	-1.7%	400,4 k €	+18.2%	338,9 k €	+2.9%	329,4 k €	+1.0%	326,1 k €	-14.6%	381,9 k €	+124%	170,7 k €	-14.3%	199,3 k €	-12.7%	228,2 k €	-5.0%	240,1 k €	+61.0%	149,1 k €	+13.0%	132 k €	-14.4%	154,1 k €	+42.1%	108,5 k €	+11.8%	97 k €	+27.6%	76 k €	-43.6%	134,8 k €	+18.2%	114 k €	+136%	48,4 k €
Operating result	345,2 k €	+9.5%	315,2 k €	-2.7%	323,8 k €	+23.4%	262,5 k €	+2.6%	255,9 k €	+0.6%	254,4 k €	-19.3%	315,3 k €	+157%	122,8 k €	-19.4%	152,4 k €	-15.9%	181,3 k €	-9.9%	201,1 k €	+128%	88,4 k €	-0.3%	88,7 k €	-20.2%	111,2 k €	+69.5%	65,6 k €	+19.3%	55 k €	+37.8%	39,9 k €	-57.3%	93,3 k €	+25.5%	74,4 k €	+821%	8,1 k €
Net result	322 k €	+29.5%	248,6 k €	+7.1%	232,2 k €	+24.2%	187 k €	-10.6%	209,1 k €	+6.9%	195,5 k €	-76.8%	844,2 k €	+921%	82,7 k €	-14.4%	96,5 k €	-14.5%	113 k €	-15.2%	133,3 k €	+160%	51,3 k €	-4.3%	53,6 k €	-38.0%	86,4 k €	+134%	36,9 k €	+39.6%	26,4 k €	+139%	11,1 k €	-77.9%	50 k €	+29.0%	38,7 k €	+594%	-7,8 k €
Balance sheet
Equity	4,9 M €	+7.1%	4,6 M €	+5.8%	4,3 M €	+5.7%	4,1 M €	+4.8%	3,9 M €	+5.7%	3,7 M €	+5.6%	3,5 M €	+32.0%	2,6 M €	+3.1%	2,6 M €	+3.9%	2,5 M €	+4.8%	2,4 M €	+6.0%	2,2 M €	+233%	666,1 k €	+8.8%	612,5 k €	+16.4%	526,1 k €	+7.5%	489,2 k €	+5.7%	462,8 k €	+2.4%	451,7 k €	+12.4%	401,7 k €	+10.7%	363 k €
Total assets	5 M €	+7.2%	4,7 M €	+6.1%	4,4 M €	+6.1%	4,2 M €	+4.9%	4 M €	-7.4%	4,3 M €	+4.9%	4,1 M €	+27.5%	3,2 M €	+3.4%	3,1 M €	+1.8%	3,1 M €	+3.3%	3 M €	+4.1%	2,8 M €	+157%	1,1 M €	+2.6%	1,1 M €	-2.1%	1,1 M €	-1.4%	1,1 M €	+4.3%	1,1 M €	+2.4%	1 M €	-3.5%	1,1 M €	+3.5%	1 M €
Cash	516,1 k €	-52.2%	1,1 M €	+1295%	77,4 k €	-87.5%	618,3 k €	+71.7%	360,1 k €	+67.0%	215,6 k €	+0.5%	214,6 k €	-54.9%	475,8 k €	+40.1%	339,6 k €	+4.7%	324,3 k €	+52.6%	212,5 k €	+257%	59,5 k €	-80.1%	298,6 k €	+39.9%	213,4 k €	+11.9%	190,6 k €	+6.3%	179,3 k €	+124%	80,2 k €	+102%	39,6 k €	+77.9%	22,3 k €	-89.2%	205,8 k €
Debts	160,3 k €	+13.2%	141,5 k €	+16.1%	121,9 k €	+28.3%	95 k €	+25.6%	75,6 k €	-87.5%	604,1 k €	+1.3%	596,1 k €	+7.0%	556,9 k €	+4.8%	531,2 k €	-5.9%	564,3 k €	-2.1%	576,2 k €	-3.0%	594,1 k €	+35.8%	437,4 k €	-5.7%	464,1 k €	-19.1%	573,5 k €	-8.5%	626,7 k €	+3.2%	607 k €	+2.4%	593 k €	-13.0%	681,4 k €	-0.3%	683,8 k €
Other
Workforce	0,0 ETP		0,0 ETP		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 9 ended

Active mandates

Christa Timmerman

Director · since 28 novembre 2014

Active

Ignace Goethals

Director · since 28 novembre 2014

Active

Ended mandates

Christa TIMMERMAN

Director · since 06 mai 2013 · until 06 mai 2019

Ended

Ignace GOETHALS

Managing director · since 06 mai 2013 · until 06 mai 2019

Ended

Laurent GOETHALS

Director · since 07 mai 2007 · until 06 mai 2013

Ended

Christa Timmerman

Director

Ended

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	27/08/2026	29/08/2025	29/08/2024	29/08/2023	30/08/2022	26/08/2021
General meeting	31/07/2026	31/07/2025	31/07/2024	31/07/2023	25/07/2022	31/07/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	31/07/2026	27/08/2026	Dutch	PDF
Abridged model	31/12/2024	31/07/2025	29/08/2025	Dutch	PDF
Abridged model	31/12/2023	31/07/2024	29/08/2024	Dutch	PDF
Abridged model	31/12/2022	31/07/2023	29/08/2023	Dutch	PDF
Abridged model	31/12/2021	25/07/2022	30/08/2022	Dutch	PDF
Abridged model	31/12/2020	31/07/2021	26/08/2021	Dutch	PDF
Abridged model	31/12/2019	27/07/2020	20/08/2020	Dutch	PDF
Abridged model	31/12/2018	06/05/2019	04/06/2019	Dutch	PDF
Micro model	31/12/2017	31/07/2018	30/08/2018	Dutch	PDF
Micro model	31/12/2016	23/05/2017	29/06/2017	Dutch	PDF
Abridged model	31/12/2015	13/06/2016	11/07/2016	Dutch	PDF
Abridged model	31/12/2014	25/05/2015	15/06/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	08/07/2014	Dutch	PDF
Abridged model	31/12/2012	29/07/2013	31/07/2013	Dutch	PDF
Abridged model	31/12/2011	31/07/2012	29/08/2012	Dutch	PDF
Abridged model	31/12/2010	02/05/2011	31/08/2011	Dutch	PDF
Abridged model	31/12/2009	03/05/2010	12/07/2010	Dutch	PDF
Abridged model	31/12/2008	04/05/2009	20/08/2009	Dutch	PDF
Abridged model	31/12/2007	05/05/2008	21/08/2008	Dutch	PDF
Abridged model	31/12/2006	07/05/2007	08/08/2007	Dutch	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 9 ended

Active mandates

Christa Timmerman

Director · since 28 novembre 2014

Active

Ignace Goethals

Director · since 28 novembre 2014

Active

Ended mandates

Christa TIMMERMAN

Director · since 06 mai 2013 · until 06 mai 2019

Ended

Ignace GOETHALS

Managing director · since 06 mai 2013 · until 06 mai 2019

Ended

Laurent GOETHALS

Director · since 07 mai 2007 · until 06 mai 2013

Ended

Christa Timmerman

Director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates13/10/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Other03/02/2015
DIVERSEN
PDF
Mandates16/12/2014
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates16/08/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/06/2007
ONTSLAGEN - BENOEMINGEN
PDF
Registered office26/04/2004
BENAMING - DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - MAATSCHAPPELIJKE ZETEL
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 2025322 k €↑
2024
Annual accounts 2024248,6 k €↑
2023
Annual accounts 2023232,2 k €↑
2022
Annual accounts 2022187 k €↓
2021
Annual accounts 2021209,1 k €↑
2020
Annual accounts 2020195,5 k €↓
2019
Annual accounts 2019844,2 k €↑
2018
Annual accounts 201882,7 k €↓
2017
Annual accounts 201796,5 k €↓
2016
Annual accounts 2016113 k €↓
2015
Annual accounts 2015133,3 k €↑
2014
Annual accounts 201451,3 k €↓
2013
Annual accounts 201353,6 k €↓
2012
Annual accounts 201286,4 k €↑
2011
Annual accounts 201136,9 k €↑
2010
Annual accounts 201026,4 k €↑
2009
Annual accounts 200911,1 k €↓
2008
Annual accounts 200850 k €↑
2007
Annual accounts 200738,7 k €↑
2006
Annual accounts 2006-7,8 k €
26/01/1985
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

I.C.S.L.

Overview

What does I.C.S.L. do?

Trend over 20 financial years

Indicative valuation

Board of directors

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