ACTIVE

ICF NEXT

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Financial year 2025 · closed on 31/12/2025
Net result
1,6 M €
-20.8% YoY
Revenue
48,3 M €
-0.7% YoY
Equity
22 M €
-10.0% YoY
Workforce
129,0 ETP
+13.3% YoY

What does ICF NEXT do?

ICF NEXT is a Public limited company incorporated in 1986. Its main activity is: Motion picture, video and television programme production activities. Its registered office is in Bruxelles. It employs on average 129,0 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0429.063.662
Incorporation
01/07/1986
Legal form
Public limited company
Registered office
Avenue Marnix 17
1000 Bruxelles · BruxellesSee on map
Contributed capital
3 009 301,00 €
Latest accounts
31/12/2025
Average workforce
129,0 ETP
Activities (NACE)
59113Motion picture, video and television programme production activities· main59113Motion picture, video and television programme production activities73110Advertising agencies73110Advertising agencies74401Other professional, scientific and technical activities92113Gambling and betting activities
Joint committees (2)
  • 227
  • 30301
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 19 financial years

2025202420232022202120192018201720162015201420132012201120102009200820072006
Income statement
Revenue48,3 M €48,6 M €54,6 M €54 M €43 M €60,3 M €55,9 M €37,5 M €31,5 M €32,7 M €35,8 M €30,6 M €30,8 M €29,6 M €36,9 M €35 M €23,7 M €13,6 M €10,5 M €
EBITDA2,7 M €3 M €5,5 M €5,3 M €768,4 k €2,3 M €3,1 M €1,7 M €1,9 M €2,2 M €4,5 M €4,5 M €3,4 M €5 M €6,6 M €6,6 M €4,7 M €2,6 M €1,6 M €
Operating result2,4 M €2,8 M €5,5 M €5,3 M €706,5 k €2,2 M €3 M €1,6 M €1,8 M €2 M €4,2 M €4 M €2,8 M €4,2 M €5,6 M €5,6 M €3,9 M €2,1 M €1,1 M €
Net result1,6 M €2 M €3,9 M €3,9 M €270,6 k €1,2 M €2,1 M €866 k €1 M €1,2 M €2,6 M €2,5 M €1,7 M €2,8 M €3,6 M €3,6 M €2,6 M €1,3 M €722,5 k €
Balance sheet
Equity22 M €24,4 M €22,4 M €18,5 M €12,1 M €13 M €11,8 M €9,7 M €8,9 M €7,8 M €6,6 M €4,1 M €3,2 M €3,8 M €4,8 M €4,2 M €4,9 M €2,5 M €1,5 M €
Total assets32,8 M €33,1 M €33,3 M €33,5 M €29,2 M €39,6 M €32,2 M €30,1 M €20,8 M €19 M €17,3 M €17,3 M €14,4 M €16,9 M €20,9 M €21 M €19,5 M €9 M €7,6 M €
Cash242,8 k €183,4 k €1,2 M €395,3 k €3 M €1,5 M €4,1 M €1,6 M €758,1 k €1,2 M €2,9 M €4,8 M €5,5 M €2,9 M €4,7 M €5,9 M €4,4 M €3,1 M €2,1 M €
Debts8 M €5,2 M €8 M €10,6 M €13,8 M €23,2 M €16,7 M €9,9 M €9,4 M €8,6 M €8,3 M €10 M €8,9 M €9,5 M €12,2 M €13,5 M €10,6 M €4,8 M €4,8 M €
Other
Workforce129,0 ETP113,9 ETP116,6 ETP118,5 ETP137,0 ETP215,5 ETP180,9 ETP155,5 ETP150,2 ETP147,5 ETP137,3 ETP114,2 ETP110,0 ETP115,0 ETP129,5 ETP119,2 ETP83,1 ETP45,8 ETP36,5 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 29 ended

Active mandates

Olivier MILLARD

Managing director · since 09 mars 2021 · until 09 mars 2027

Active
James MORGAN

Director · since 01 janvier 2021 · until 31 décembre 2026

Active
Tobias SCHAFER

Director · since 01 janvier 2021 · until 31 décembre 2026

Active

Ended mandates

MISTRALL CONSULT

Managing director · since 01 janvier 2020 · until 31 décembre 2024 · 0862.987.224

Represented by Laurent Lejeune

Ended
Eleanor Siobhan BREEN

Director · since 25 août 2016 · until 25 août 2022

Ended
ICF

Director · since 25 août 2016 · until 25 août 2022 · 0820.347.311

Represented by Warren MARSHALL

Ended
Michael Sands

Director · since 25 août 2016 · until 15 août 2019

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull 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 date30/07/202605/08/202503/07/202409/08/202309/06/202230/06/2021
General meeting24/07/202624/07/202512/06/202419/07/202308/06/202229/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202524/07/202630/07/2026FrenchPDF
Full model31/12/202424/07/202505/08/2025FrenchPDF
Full model31/12/202312/06/202403/07/2024FrenchPDF
Full model31/12/202219/07/202309/08/2023FrenchPDF
Full model31/12/202108/06/202209/06/2022FrenchPDF
Full model31/12/202029/06/202130/06/2021FrenchPDF
Full model31/12/201910/06/202024/06/2020FrenchPDF
Full model31/12/201812/06/201927/06/2019FrenchPDF
Full model31/12/201717/05/201823/05/2018FrenchPDF
Full model31/12/201617/05/201728/06/2017FrenchPDF
Full model31/12/201508/09/201626/09/2016FrenchPDF
Full model31/12/201425/08/201531/08/2015FrenchPDF
Full model31/12/201318/06/201407/08/2014FrenchPDF
Full model31/12/201215/05/201305/07/2013FrenchPDF
Full model31/12/201116/05/201221/06/2012FrenchPDF
Full model31/12/201018/05/201130/06/2011FrenchPDF
Full model31/12/200925/05/201013/08/2010FrenchPDF
Full modelCorrection31/12/200812/06/200910/09/2009FrenchPDF
Full model31/12/200812/06/200928/08/2009FrenchPDF
Full model31/12/200718/06/200808/07/2008FrenchPDF
Full model31/12/200629/06/200731/07/2007FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 · 3 active · 29 ended

Active mandates

Olivier MILLARD

Managing director · since 09 mars 2021 · until 09 mars 2027

Active
James MORGAN

Director · since 01 janvier 2021 · until 31 décembre 2026

Active
Tobias SCHAFER

Director · since 01 janvier 2021 · until 31 décembre 2026

Active

Ended mandates

MISTRALL CONSULT

Managing director · since 01 janvier 2020 · until 31 décembre 2024 · 0862.987.224

Represented by Laurent Lejeune

Ended
Eleanor Siobhan BREEN

Director · since 25 août 2016 · until 25 août 2022

Ended
ICF

Director · since 25 août 2016 · until 25 août 2022 · 0820.347.311

Represented by Warren MARSHALL

Ended
Michael Sands

Director · since 25 août 2016 · until 15 août 2019

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates20/05/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates07/09/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates04/09/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Capital / shares09/08/2022
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - CAPITAL, ACTIONS
    PDF
  • Mandates05/04/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates30/03/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates26/02/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates07/09/2020
    DEMISSIONS, NOMINATIONS
    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

Timeline

  1. 2025
    Annual accounts 20251,6 M €↓
  2. 2024
    Annual accounts 20242 M €↓
  3. 2023
    Annual accounts 20233,9 M €↑
  4. 2022
    Annual accounts 20223,9 M €↑
  5. 2021
    Annual accounts 2021270,6 k €↓
  6. 2019
    Annual accounts 20191,2 M €↓
  7. 2018
    Annual accounts 20182,1 M €↑
  8. 2017
    Annual accounts 2017866 k €↓
  9. 2016
    Annual accounts 20161 M €↓
  10. 2015
    Annual accounts 20151,2 M €↓
  11. 2014
    Annual accounts 20142,6 M €↑
  12. 2013
    Annual accounts 20132,5 M €↑
  13. 2012
    Annual accounts 20121,7 M €↓
  14. 2011
    Annual accounts 20112,8 M €↓
  15. 2010
    Annual accounts 20103,6 M €↑
  16. 2009
    Annual accounts 20093,6 M €↑
  17. 2008
    Annual accounts 20082,6 M €↑
  18. 2007
    Annual accounts 20071,3 M €↑
  19. 2006
    Annual accounts 2006722,5 k €
  20. 01/07/1986
    IncorporationPublic limited company