ACTIVE

IKAROS

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Financial year 2025 · closed on 30/09/2025

Net result

4,5 k €

-90.5% YoY

Revenue

7,6 M €

+1.2% YoY

Equity

539,4 k €

+0.8% YoY

Workforce

16,7 ETP

-1.2% YoY

What does IKAROS do?

IKAROS is a Private limited company incorporated in 1988. Its registered office is in Diest. It employs on average 16,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0435.839.905

Incorporation

15/11/1988

Legal form

Private limited company

Registered office

Refugiestraat 15
3290 Diest · FlandreSee on map

Contributed capital

50 000,00 €

Latest accounts

30/09/2025

Average workforce

16,7 ETP

Joint committees (3)

Signals

ProfitableGood 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		2011		2010		2009		2008		2007
Income statement
Revenue	7,6 M €	+1.2%	7,5 M €	+4.0%	7,2 M €	+29.3%	5,6 M €	+163%	2,1 M €	-19.0%	2,6 M €	-65.0%	7,5 M €	+10.4%	6,8 M €	+12.5%	6,1 M €	+1.4%	6 M €	-2.1%	6,1 M €	+7.4%	5,7 M €	-0.3%	5,7 M €	-5.4%	6 M €		–		–		–		–		–
EBITDA	85,8 k €	+4.9%	81,8 k €	-64.7%	232 k €	-25.2%	310,3 k €	+1593%	18,3 k €	+103%	-540,1 k €	-374%	197,1 k €	+44.9%	136 k €	+26.1%	107,9 k €	+106%	52,3 k €	-61.5%	135,9 k €	+35.9%	100 k €	+1.3%	98,7 k €	+44.1%	68,5 k €	+38.3%	49,5 k €	-51.6%	102,3 k €	+95.6%	52,3 k €	+11.3%	47 k €	+77.7%	26,4 k €
Operating result	9,5 k €	-76.8%	40,9 k €	-81.3%	218,9 k €	-25.3%	293,1 k €	+7274%	-4,1 k €	+99.3%	-565,2 k €	-426%	173,4 k €	+57.4%	110,2 k €	+28.5%	85,8 k €	+181%	30,5 k €	-72.1%	109,1 k €	+70.8%	63,9 k €	+24.3%	51,4 k €	+144%	21 k €	+323%	5 k €	-91.4%	57,7 k €	+4044%	1,4 k €	+154%	-2,6 k €	+66.0%	-7,6 k €
Net result	4,5 k €	-90.5%	47 k €	-77.3%	207,5 k €	-23.1%	269,8 k €	+2905%	-9,6 k €	+98.3%	-582,7 k €	-693%	98,3 k €	+69.3%	58,1 k €	+45.1%	40 k €	+750%	4,7 k €	-93.7%	74,4 k €	+145%	30,4 k €	+71.5%	17,7 k €	+365%	3,8 k €	+17.7%	3,2 k €	+32.9%	2,4 k €	-25.8%	3,3 k €	-22.4%	4,2 k €	-49.1%	8,3 k €
Balance sheet
Equity	539,4 k €	+0.8%	535 k €	+6.0%	504,8 k €	+69.8%	297,3 k €	+981%	27,5 k €	-25.9%	37,1 k €	-94.0%	619,8 k €	+19.0%	520,9 k €	+12.5%	462,8 k €	+9.5%	422,8 k €	+1.1%	418,1 k €	+21.7%	343,7 k €	+9.7%	313,3 k €	+6.0%	295,6 k €	+1.3%	291,8 k €	+1.1%	288,6 k €	+0.9%	286,1 k €	+1.2%	282,9 k €	+1.5%	278,6 k €
Total assets	2,5 M €	+2.3%	2,4 M €	+2.4%	2,4 M €	+33.8%	1,8 M €	+41.9%	1,3 M €	-9.9%	1,4 M €	-35.3%	2,2 M €	-10.5%	2,4 M €	+19.2%	2 M €	+28.3%	1,6 M €	+15.8%	1,4 M €	-10.3%	1,5 M €	+6.1%	1,4 M €	+9.6%	1,3 M €	+9.0%	1,2 M €	+3.4%	1,2 M €	-10.2%	1,3 M €	-3.9%	1,3 M €	-3.0%	1,4 M €
Cash	176,2 k €	+7.7%	163,6 k €	+2.6%	159,4 k €	+25.6%	126,9 k €	+16.3%	109,1 k €	-22.4%	140,7 k €	+31.0%	107,3 k €	-69.7%	354,6 k €	+9.6%	323,5 k €	+26.3%	256,1 k €	+115%	119,1 k €	-14.2%	138,8 k €	+0.0%	138,8 k €	-8.0%	150,8 k €	-82.8%	877,6 k €	+6.9%	820,9 k €	-13.4%	948,2 k €	+335%	217,8 k €	-82.5%	1,2 M €
Debts	1,9 M €	+1.0%	1,8 M €	+2.1%	1,8 M €	+24.7%	1,4 M €	+23.3%	1,2 M €	-10.3%	1,3 M €	-5.5%	1,4 M €	-17.8%	1,7 M €	+25.4%	1,3 M €	+27.6%	1 M €	+25.4%	835,4 k €	-20.0%	1 M €	+4.7%	996,5 k €	+21.2%	821,9 k €	+8.1%	760,2 k €	+4.0%	730,9 k €	-4.8%	768,1 k €	-11.0%	863,1 k €	-2.0%	881,2 k €
Other
Workforce	16,7 ETP	-1.2%	16,9 ETP	+11.2%	15,2 ETP	+25.6%	12,1 ETP	-4.0%	12,6 ETP	-18.7%	15,5 ETP	+6.2%	14,6 ETP	0.0%	14,6 ETP	+12.3%	13,0 ETP	+4.8%	12,4 ETP	+5.1%	11,8 ETP	+0.9%	11,7 ETP	-1.7%	11,9 ETP	-7.0%	12,8 ETP	+2.4%	12,5 ETP	+2.5%	12,2 ETP	+8.9%	11,2 ETP	-0.9%	11,3 ETP	+7.6%	10,5 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 30/09/2025 · 3 active · 19 ended

Active mandates

Anny Delsaer

Chairman of the board of directors · since 18 février 2025 · until 18 février 2031

Active

Robert Elsen

Director · since 18 février 2025 · until 18 février 2031

Active

Stijn Elsen

Managing director · since 18 février 2025 · until 18 février 2031

Active

Ended mandates

Stijn Elsen

Managing director · since 08 septembre 2023 · until 20 février 2029

Ended

Anny Delsaer

Chairman of the board of directors · since 19 février 2019 · until 18 février 2025

Ended

Lucien Callewaert

Managing director · since 19 février 2019 · until 18 février 2025

Ended

Robert Elsen

Director · since 19 février 2019 · until 18 février 2025

Ended

At this address

Other companies at this address

Company	CBE no.
De Kalebas● Active	0458.520.582

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	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	06/03/2026	26/02/2025	20/03/2024	03/03/2023	21/02/2022	09/03/2021
General meeting	17/02/2026	18/02/2025	22/02/2024	21/02/2023	15/02/2022	16/02/2021
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	30/09/2025	17/02/2026	06/03/2026	Dutch	PDF
Abridged model	30/09/2024	18/02/2025	26/02/2025	Dutch	PDF
Abridged model	30/09/2023	22/02/2024	20/03/2024	Dutch	PDF
Abridged model	30/09/2022	21/02/2023	03/03/2023	Dutch	PDF
Abridged model	30/09/2021	15/02/2022	21/02/2022	Dutch	PDF
Abridged model	30/09/2020	16/02/2021	09/03/2021	Dutch	PDF
Abridged model	30/09/2019	18/02/2020	19/03/2020	Dutch	PDF
Abridged model	30/09/2018	19/02/2019	22/03/2019	Dutch	PDF
Abridged model	30/09/2017	20/02/2018	30/03/2018	Dutch	PDF
Abridged model	30/09/2016	21/02/2017	31/03/2017	Dutch	PDF
Abridged model	30/09/2015	16/02/2016	24/03/2016	Dutch	PDF
Abridged model	30/09/2014	03/02/2015	02/04/2015	Dutch	PDF
Abridged model	30/09/2013	18/02/2014	01/04/2014	Dutch	PDF
Abridged model	30/09/2012	19/02/2013	05/04/2013	Dutch	PDF
Abridged model	30/09/2011	14/03/2012	27/03/2012	Dutch	PDF
Abridged model	30/09/2010	15/02/2011	11/03/2011	Dutch	PDF
Abridged model	30/09/2009	24/02/2010	25/02/2010	Dutch	PDF
Abridged model	30/09/2008	10/03/2009	16/03/2009	Dutch	PDF
Abridged model	30/09/2007	05/03/2008	18/03/2008	Dutch	PDF
Abridged model	30/09/2006	06/03/2007	28/03/2007	Dutch	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 30/09/2025 · 3 active · 19 ended

Active mandates

Anny Delsaer

Chairman of the board of directors · since 18 février 2025 · until 18 février 2031

Active

Robert Elsen

Director · since 18 février 2025 · until 18 février 2031

Active

Stijn Elsen

Managing director · since 18 février 2025 · until 18 février 2031

Active

Ended mandates

Stijn Elsen

Managing director · since 08 septembre 2023 · until 20 février 2029

Ended

Anny Delsaer

Chairman of the board of directors · since 19 février 2019 · until 18 février 2025

Ended

Lucien Callewaert

Managing director · since 19 février 2019 · until 18 février 2025

Ended

Robert Elsen

Director · since 19 février 2019 · until 18 février 2025

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/03/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other15/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Mandates13/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/04/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/05/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/05/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/11/2011
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/09/2008
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 20254,5 k €↓
2024
Annual accounts 202447 k €↓
2023
Annual accounts 2023207,5 k €↓
2022
Annual accounts 2022269,8 k €↑
2021
Annual accounts 2021-9,6 k €↑
2020
Annual accounts 2020-582,7 k €↓
2019
Annual accounts 201998,3 k €↑
2018
Annual accounts 201858,1 k €↑
2017
Annual accounts 201740 k €↑
2016
Annual accounts 20164,7 k €↓
2015
Annual accounts 201574,4 k €↑
2014
Annual accounts 201430,4 k €↑
2013
Annual accounts 201317,7 k €↑
2012
Annual accounts 20123,8 k €↑
2011
Annual accounts 20113,2 k €↑
2010
Annual accounts 20102,4 k €↓
2009
Annual accounts 20093,3 k €↓
2008
Annual accounts 20084,2 k €↓
2007
Annual accounts 20078,3 k €
15/11/1988
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

IKAROS

Overview

What does IKAROS 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