ACTIVE

ISHKA

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Financial year 2025 · closed on 31/12/2025

Net result

-38,2 k €

+5.9% YoY

Gross margin

-6,8 k €

-105.4% YoY

Equity

715,9 k €

-5.1% YoY

Workforce

0,0 ETP

What does ISHKA do?

ISHKA is a Private limited company incorporated in 1991. Its main activity is: Management consultancy activities. Its registered office is in Kortrijk.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0443.725.411

Incorporation

27/03/1991

Legal form

Private limited company

Registered office

Engelse Wandeling(Kor) 2 box K13V
8500 Kortrijk · FlandreSee on map

Contributed capital

71 000,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities

Signals

Solid equity

View the BCE/KBO Public Search record →

Health score

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Recommended credit limit

✦ 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	-6,8 k €	-105%	127 k €	+582%	18,6 k €	-73.8%	71 k €	+9.9%	64,6 k €	-51.3%	132,7 k €	+783%	15 k €	-78.9%	71,4 k €	+432%	-21,5 k €	-148%	45 k €	+48.4%	30,3 k €	+197%	10,2 k €	+508%	1,7 k €	-88.6%	14,7 k €	-43.8%	26,1 k €	+19.5%	21,9 k €	-15.4%	25,8 k €	+52.7%	16,9 k €	+3168%	-551,5 €	-124%	2,3 k €
EBITDA	-9,8 k €	+78.2%	-45,2 k €	-404%	14,8 k €	-75.8%	61,4 k €	+17.4%	52,3 k €	-59.5%	129,3 k €	+2008%	6,1 k €	-91.0%	68,1 k €	+407%	-22,2 k €	-153%	42 k €	+50.1%	28 k €	+298%	7 k €	+6038%	114,7 €	-99.1%	13,3 k €	-46.0%	24,7 k €	+19.9%	20,6 k €	-6.7%	22,1 k €	+150%	8,8 k €	+599%	-1,8 k €	-257%	1,1 k €
Operating result	-27,3 k €	+45.8%	-50,3 k €	-273%	-13,5 k €	-132%	41,8 k €	+27.9%	32,7 k €	-70.2%	109,6 k €	+922%	-13,3 k €	-127%	48,7 k €	+217%	-41,7 k €	-285%	22,6 k €	+164%	8,5 k €	+169%	-12,4 k €	+29.6%	-17,6 k €	-283%	9,6 k €	-54.2%	21 k €	+24.3%	16,9 k €	-8.0%	18,3 k €	+49.3%	12,3 k €	+287%	-6,6 k €	+28.0%	-9,1 k €
Net result	-38,2 k €	+5.9%	-40,6 k €	+72.3%	-146,8 k €	-422%	45,6 k €	+1.7%	44,8 k €	-71.7%	158,2 k €	+1020%	14,1 k €	-48.6%	27,5 k €	+143%	-63,3 k €	-1733%	-3,5 k €	+71.7%	-12,2 k €	+65.6%	-35,5 k €	+4.0%	-37 k €	-338%	15,5 k €	+368%	-5,8 k €	-40.1%	-4,1 k €	-139%	10,7 k €	+6.4%	10 k €	+213%	-8,9 k €	-30.6%	-6,8 k €
Balance sheet
Equity	715,9 k €	-5.1%	754,1 k €	-5.1%	794,7 k €	-15.6%	941,4 k €	+5.1%	895,8 k €	+5.3%	851 k €	+22.8%	692,8 k €	+2.1%	678,7 k €	+4.2%	651,2 k €	-8.9%	714,5 k €	-0.5%	718 k €	-1.7%	730,2 k €	-4.6%	765,7 k €	-4.6%	802,7 k €	+2280%	33,7 k €	-14.7%	39,5 k €	-9.5%	43,6 k €	+32.3%	33 k €	+43.7%	23 k €	-27.9%	31,9 k €
Total assets	1,9 M €	+2.6%	1,8 M €	+76.6%	1 M €	-19.1%	1,3 M €	-7.0%	1,4 M €	-26.8%	1,9 M €	+9.6%	1,7 M €	+4.0%	1,7 M €	+2.8%	1,6 M €	+2.2%	1,6 M €	-6.4%	1,7 M €	-6.5%	1,8 M €	+17.1%	1,5 M €	+27.6%	1,2 M €	+272%	325,3 k €	+4.4%	311,7 k €	+88.1%	165,7 k €	+139%	69,3 k €	+25.9%	55 k €	-19.4%	68,3 k €
Cash	5,8 k €	+0.7%	5,7 k €	-12.0%	6,5 k €	+6.2%	6,1 k €	+7.3%	5,7 k €	-86.5%	42,5 k €	+94.3%	21,9 k €	+347%	4,9 k €	-72.5%	17,8 k €	-42.2%	30,9 k €	-47.7%	59 k €	+304%	14,6 k €	-37.6%	23,4 k €	+618%	3,3 k €	-13.1%	3,8 k €	+833%	402,3 €	-90.2%	4,1 k €	+48.9%	2,8 k €	+219%	867,6 €	-66.9%	2,6 k €
Debts	1,2 M €	+7.9%	1,1 M €	+332%	249,5 k €	-28.3%	348,2 k €	-29.0%	490,2 k €	-52.9%	1 M €	+0.8%	1 M €	+8.3%	954,7 k €	+1.5%	940,7 k €	+12.0%	840 k €	-9.7%	930,5 k €	-10.7%	1 M €	+37.5%	757,6 k €	+96.3%	385,9 k €	+44.0%	267,9 k €	+5.4%	254,1 k €	+124%	113,3 k €	+233%	34,1 k €	+15.5%	29,5 k €	-15.7%	35 k €
Other
Workforce	0,0 ETP		0,0 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 · 1 active · 2 ended

Active mandates

Piet DEVOLDER

Director · since 30 janvier 2024

Active

Ended mandates

Piet Devolder

Director · since 20 mai 2003

Ended

Piet DEVOLDER

Manager · since 20 mai 2003

Ended

At this address

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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	28/08/2026	22/07/2025	21/08/2024	14/08/2023	27/08/2022	22/07/2021
General meeting	25/06/2026	26/06/2025	27/06/2024	04/08/2023	24/06/2022	20/07/2021
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	25/06/2026	28/08/2026	Dutch	PDF
Abridged model	31/12/2024	26/06/2025	22/07/2025	Dutch	PDF
Abridged model	31/12/2023	27/06/2024	21/08/2024	Dutch	PDF
Abridged model	31/12/2022	04/08/2023	14/08/2023	Dutch	PDF
Abridged model	31/12/2021	24/06/2022	27/08/2022	Dutch	PDF
Abridged model	31/12/2020	20/07/2021	22/07/2021	Dutch	PDF
Abridged model	31/12/2019	25/06/2020	13/07/2020	Dutch	PDF
Abridged model	31/12/2018	27/06/2019	15/07/2019	Dutch	PDF
Abridged model	31/12/2017	28/06/2018	31/08/2018	Dutch	PDF
Abridged model	31/12/2016	29/06/2017	20/09/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	15/07/2016	Dutch	PDF
Abridged model	31/12/2014	25/06/2015	20/07/2015	Dutch	PDF
Abridged model	31/12/2013	26/06/2014	28/08/2014	Dutch	PDF
Abridged model	31/12/2012	27/06/2013	30/08/2013	Dutch	PDF
Abridged model	31/12/2011	28/06/2012	23/08/2012	Dutch	PDF
Abridged model	31/12/2010	30/06/2011	31/08/2011	Dutch	PDF
Abridged model	31/12/2009	24/06/2010	15/10/2010	Dutch	PDF
Abridged model	31/12/2008	25/06/2009	09/07/2009	Dutch	PDF
Abridged model	31/12/2007	28/06/2008	04/07/2008	Dutch	PDF
Abridged model	31/12/2006	28/06/2007	25/07/2007	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 · 1 active · 2 ended

Active mandates

Piet DEVOLDER

Director · since 30 janvier 2024

Active

Ended mandates

Piet Devolder

Director · since 20 mai 2003

Ended

Piet DEVOLDER

Manager · since 20 mai 2003

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Registered office06/04/2022
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares14/02/2013
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office05/02/2008
MAATSCHAPPELIJKE ZETEL
PDF
Mandates05/06/2003
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - DENOMINATION - ASSEMBLEE GENERALE - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - ANNEE COMPTABLE - SIEGE SOCIAL
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 2025-38,2 k €↑
2024
Annual accounts 2024-40,6 k €↑
2023
Annual accounts 2023-146,8 k €↓
2022
Annual accounts 202245,6 k €↑
2021
Annual accounts 202144,8 k €↓
2020
Annual accounts 2020158,2 k €↑
2019
Annual accounts 201914,1 k €↓
2018
Annual accounts 201827,5 k €↑
2017
Annual accounts 2017-63,3 k €↓
2016
Annual accounts 2016-3,5 k €↑
2015
Annual accounts 2015-12,2 k €↑
2014
Annual accounts 2014-35,5 k €↑
2013
Annual accounts 2013-37 k €↓
2012
Annual accounts 201215,5 k €↑
2011
Annual accounts 2011-5,8 k €↓
2010
Annual accounts 2010-4,1 k €↓
2009
Annual accounts 200910,7 k €↑
2008
Annual accounts 200810 k €↑
2007
Annual accounts 2007-8,9 k €↓
2006
Annual accounts 2006-6,8 k €
27/03/1991
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

ISHKA

Overview

What does ISHKA do?

Trend over 20 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