ACTIVE

ISAP

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Financial year 2025 · closed on 31/12/2025

Net result

105,7 k €

-44.5% YoY

Gross margin

454 k €

-29.2% YoY

Equity

644,5 k €

+0.9% YoY

Workforce

3,3 ETP

-5.7% YoY

What does ISAP do?

ISAP is a Public limited company incorporated in 1988. Its main activity is: Raising of dairy cattle. Its registered office is in Tessenderlo-Ham. It employs on average 3,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0433.666.214

Incorporation

15/03/1988

Legal form

Public limited company

Registered office

Industrieweg (H) 102
3980 Tessenderlo-Ham · FlandreSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2025

Average workforce

3,3 ETP

Activities (NACE)

01410Raising of dairy cattle· main 46649Wholesale of machinery for the textile industry and of sewing and knitting machines 46699Wholesale of other machinery and equipment 81300Landscape service activities 81300Landscape service activities

Joint committees (3)

149
14904
200

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		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	454 k €	-29.2%	641 k €	-42.2%	1,1 M €	+61.5%	686,4 k €	+50.1%	457,3 k €	-16.4%	547,3 k €	-4.5%	573,3 k €	-14.8%	672,7 k €	+4.4%	644,4 k €	+104%	316,4 k €	+24.7%	253,7 k €	-14.8%	297,8 k €	+21.9%	244,4 k €	-12.2%	278,5 k €	+8.9%	255,7 k €	+4.9%	243,7 k €	-4.9%	256,4 k €	+69.1%	151,7 k €	-41.4%	258,9 k €
EBITDA	155,3 k €	-53.4%	333,1 k €	-35.8%	518,9 k €	+116%	240,3 k €	+38.8%	173,1 k €	+30.0%	133,1 k €	-30.8%	192,4 k €	-41.9%	331,2 k €	-28.2%	461,2 k €	+163%	175,1 k €	+30.2%	134,5 k €	-24.3%	177,7 k €	+42.9%	124,4 k €	-23.3%	162,3 k €	+13.4%	143,1 k €	+8.5%	131,9 k €	+12.1%	117,7 k €	+201%	39,1 k €	-76.8%	168,8 k €
Operating result	150,3 k €	-53.9%	326 k €	-32.3%	481,7 k €	+109%	230,3 k €	+40.8%	163,6 k €	+33.4%	122,6 k €	-32.0%	180,3 k €	-33.4%	270,6 k €	-31.4%	394,4 k €	+256%	110,8 k €	+57.9%	70,2 k €	-25.5%	94,2 k €	+189%	32,6 k €	-50.7%	66,1 k €	+21.9%	54,2 k €	+24.5%	43,6 k €	+8.8%	40 k €	+189%	-44,8 k €	-214%	39,4 k €
Net result	105,7 k €	-44.5%	190,6 k €	-48.5%	369,9 k €	+129%	161,4 k €	+30.4%	123,8 k €	+72.1%	71,9 k €	-40.9%	121,6 k €	-25.4%	163,1 k €	-36.3%	256,2 k €	+436%	47,8 k €	+226%	14,7 k €	-73.4%	55,1 k €	+1231%	-4,9 k €	-133%	14,8 k €	+462%	-4,1 k €	-189%	-1,4 k €	-102%	83,9 k €	+192%	-91,3 k €	-2108%	4,5 k €
Balance sheet
Equity	644,5 k €	+0.9%	638,8 k €	+42.5%	448,2 k €	+33.7%	335,3 k €	+92.6%	174,1 k €	+15.8%	150,3 k €	-54.2%	328,2 k €	-16.4%	392,8 k €	+71.0%	229,7 k €	+63.8%	140,2 k €	-5.0%	147,7 k €	+11.0%	133 k €	+70.6%	78 k €	-25.3%	104,3 k €	+16.5%	89,5 k €	-4.4%	93,6 k €	-1.5%	95 k €	+686%	12,1 k €	-88.3%	103,4 k €
Total assets	1,3 M €	-5.2%	1,4 M €	-21.2%	1,8 M €	+16.2%	1,5 M €	+39.8%	1,1 M €	-16.6%	1,3 M €	+35.3%	955,1 k €	-6.7%	1 M €	+9.0%	939 k €	-4.0%	978,6 k €	+15.8%	844,7 k €	+12.7%	749,3 k €	-16.5%	897 k €	-3.7%	931,1 k €	-3.3%	963,1 k €	-14.5%	1,1 M €	-6.6%	1,2 M €	-16.3%	1,4 M €	-1.7%	1,5 M €
Cash	24,5 k €	-89.5%	232,8 k €	+101%	116 k €	-22.1%	148,8 k €	-3.5%	154,2 k €	-32.1%	227 k €	-1.6%	230,7 k €	+190%	79,6 k €	-0.2%	79,8 k €	+92.6%	41,4 k €	-49.6%	82,2 k €	+896%	8,3 k €	+1231%	620 €	-96.6%	18,2 k €	+15.6%	15,7 k €	+84.2%	8,5 k €	-71.7%	30,1 k €	+866%	3,1 k €	-93.1%	45 k €
Debts	663,8 k €	-10.4%	740,6 k €	-43.1%	1,3 M €	+11.2%	1,2 M €	+29.6%	903,4 k €	-20.9%	1,1 M €	+82.2%	626,8 k €	-0.5%	629,6 k €	-2.2%	643,9 k €	-19.3%	798,2 k €	+20.4%	662,7 k €	+17.9%	561,9 k €	-28.3%	783,8 k €	-1.1%	792,4 k €	-5.6%	839,2 k €	-15.8%	996,3 k €	-4.3%	1 M €	-22.2%	1,3 M €	+7.8%	1,2 M €
Other
Workforce	3,3 ETP	-5.7%	3,5 ETP	-34.0%	5,3 ETP	+8.2%	4,9 ETP	+44.1%	3,4 ETP	-39.3%	5,6 ETP	-3.4%	5,8 ETP	+7.4%	5,4 ETP	+35.0%	4,0 ETP	+53.8%	2,6 ETP	+30.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	-9.1%	2,2 ETP	-26.7%	3,0 ETP	+15.4%	2,6 ETP	+36.8%	1,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 14 ended

Active mandates

Danny Lenaerts

Managing director · since 28 juin 2021 · until 28 juin 2027

Active

Frederick Duchateau

Director · since 28 juin 2021 · until 28 juin 2027

Active

MAFICON

Director · since 28 juin 2021 · until 28 juin 2027 · 0463.774.222

Represented by Kris Lenaerts

Active

Ended mandates

Frederick Duchateau

Administrator - manager · since 28 juin 2021 · until 28 juin 2027

Ended

GRANISOL

Director · since 28 juin 2021 · until 28 juin 2027 · 0445.643.734

Represented by Marcus Van Edom

Ended

MAFICON

Director · since 28 juin 2021 · until 28 juin 2027 · 0463.774.222

Represented by Kris Lenaerts

Ended

Danny Lenaerts

Managing director · since 16 avril 2018 · until 16 avril 2024

Ended

At this address

Other companies at this address

Company	CBE no.
BTW EENHEID " MAFMA "● Active	0681.397.284
ISAPP● Active	1004.053.829
MAVARO● Active	0475.085.412

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	31/07/2026	29/08/2025	30/08/2024	27/07/2023	17/10/2022	22/11/2021
General meeting	30/06/2026	27/08/2025	28/06/2024	30/06/2023	30/06/2022	30/09/2021
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	30/06/2026	31/07/2026	Dutch	PDF
Abridged model	31/12/2024	27/08/2025	29/08/2025	Dutch	PDF
Abridged model	31/12/2023	28/06/2024	30/08/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	27/07/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	17/10/2022	Dutch	PDF
Abridged model	31/12/2020	30/09/2021	22/11/2021	Dutch	PDF
Abridged model	31/12/2019	30/06/2020	27/07/2020	Dutch	PDF
Abridged model	31/12/2018	11/06/2019	28/08/2019	Dutch	PDF
Abridged model	31/12/2017	16/02/2018	13/06/2018	Dutch	PDF
Abridged model	31/12/2016	13/06/2017	26/06/2017	Dutch	PDF
Abridged model	31/12/2015	28/06/2016	11/07/2016	Dutch	PDF
Abridged model	31/12/2014	09/06/2015	03/07/2015	Dutch	PDF
Abridged model	31/12/2013	10/06/2014	08/07/2014	Dutch	PDF
Abridged model	31/12/2012	11/06/2013	15/06/2013	Dutch	PDF
Abridged model	31/12/2011	12/06/2012	15/06/2012	Dutch	PDF
Abridged model	31/12/2010	14/06/2011	22/06/2011	Dutch	PDF
Abridged model	31/12/2009	08/06/2010	11/06/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	29/07/2009	Dutch	PDF
Abridged model	31/12/2007	30/06/2008	25/07/2008	Dutch	PDF
Abridged model	31/12/2006	29/06/2007	10/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 14 ended

Active mandates

Danny Lenaerts

Managing director · since 28 juin 2021 · until 28 juin 2027

Active

Frederick Duchateau

Director · since 28 juin 2021 · until 28 juin 2027

Active

MAFICON

Director · since 28 juin 2021 · until 28 juin 2027 · 0463.774.222

Represented by Kris Lenaerts

Active

Ended mandates

Frederick Duchateau

Administrator - manager · since 28 juin 2021 · until 28 juin 2027

Ended

GRANISOL

Director · since 28 juin 2021 · until 28 juin 2027 · 0445.643.734

Represented by Marcus Van Edom

Ended

MAFICON

Director · since 28 juin 2021 · until 28 juin 2027 · 0463.774.222

Represented by Kris Lenaerts

Ended

Danny Lenaerts

Managing director · since 16 avril 2018 · until 16 avril 2024

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring10/01/2024
ONTSLAGEN - BENOEMINGEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring14/11/2023
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates14/11/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/07/2021
DIVERSEN - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/05/2018
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Restructuring02/05/2018
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring06/03/2018
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates28/10/2016
ONTSLAGEN - BENOEMINGEN
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 2025105,7 k €↓
2024
Annual accounts 2024190,6 k €↓
2023
Annual accounts 2023369,9 k €↑
2022
Annual accounts 2022161,4 k €↑
2021
Annual accounts 2021123,8 k €↑
2020
Annual accounts 202071,9 k €↓
2019
Annual accounts 2019121,6 k €↓
2017
Annual accounts 2017163,1 k €↓
2016
Annual accounts 2016256,2 k €↑
2015
Annual accounts 201547,8 k €↑
2014
Annual accounts 201414,7 k €↓
2013
Annual accounts 201355,1 k €↑
2012
Annual accounts 2012-4,9 k €↓
2011
Annual accounts 201114,8 k €↑
2010
Annual accounts 2010-4,1 k €↓
2009
Annual accounts 2009-1,4 k €↓
2008
Annual accounts 200883,9 k €↑
2007
Annual accounts 2007-91,3 k €↓
2006
Annual accounts 20064,5 k €
15/03/1988
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

ISAP

Overview

What does ISAP 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