ACTIVE

INNOPA

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Financial year 2025 · closed on 31/12/2025

Net result

-84 k €

-306.5% YoY

Revenue

4,7 M €

+8.5% YoY

Equity

3,9 M €

-2.1% YoY

Workforce

27,8 ETP

+13.0% YoY

What does INNOPA do?

INNOPA is a Public limited company incorporated in 1991. Its registered office is in Leuven. It employs on average 27,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0444.575.645

Incorporation

01/07/1991

Legal form

Public limited company

Registered office

Aarschotsesteenweg 225
3012 Leuven · FlandreSee on map

Contributed capital

200 000,00 €

Latest accounts

31/12/2025

Average workforce

27,8 ETP

Joint committees (3)

Signals

Solid equityPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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
Revenue	4,7 M €	+8.5%	4,3 M €	-1.0%	4,4 M €	+2.5%	4,2 M €	+29.6%	3,3 M €	+8.0%	3 M €	-5.6%	3,2 M €	+19.3%	2,7 M €	+6.1%	2,5 M €	+13.4%	2,2 M €	+12.8%	2 M €	+7.6%	1,8 M €	-7.7%	2 M €	+5.0%	1,9 M €		–		1 M €		–		–		–		–
EBITDA	14,7 k €	-90.7%	157,8 k €	-53.2%	337,4 k €	-60.3%	850,1 k €	+471%	149 k €	-46.7%	279,4 k €	-43.0%	490,1 k €	+45.4%	337,2 k €	-40.4%	565,4 k €	+41.6%	399,3 k €	+103%	196,7 k €	+0.2%	196,3 k €	-33.1%	293,4 k €	+330%	68,3 k €	-84.4%	436,7 k €	+102%	216,5 k €	+71.0%	126,6 k €	+177%	45,8 k €	+202%	15,1 k €	-87.5%	121,5 k €
Operating result	3,6 k €	-97.6%	150,5 k €	-54.5%	330,8 k €	-60.9%	846,7 k €	+484%	144,9 k €	-46.3%	269,8 k €	-43.8%	480,1 k €	+46.3%	328,2 k €	-41.4%	560,4 k €	+41.9%	395 k €	+104%	193,9 k €	+4.5%	185,6 k €	-33.0%	276,8 k €	+559%	42 k €	-89.8%	410,9 k €	+113%	193,1 k €	+63.5%	118,1 k €	+159%	45,6 k €	+205%	14,9 k €	-87.7%	121,4 k €
Net result	-84 k €	-307%	40,7 k €	-76.6%	173,7 k €	-68.8%	556,5 k €	+2121%	25,1 k €	-79.3%	120,8 k €	-55.8%	273,1 k €	+64.2%	166,3 k €	-44.5%	299,6 k €	+48.2%	202,1 k €	+187%	70,5 k €	-1.0%	71,2 k €	-53.2%	152,1 k €	+1356%	10,4 k €	-99.0%	1 M €	+385%	207,1 k €	+25.6%	164,9 k €	+2.6%	160,7 k €	+82.8%	87,9 k €	-21.1%	111,4 k €
Balance sheet
Equity	3,9 M €	-2.1%	4 M €	+1.0%	4 M €	+4.6%	3,8 M €	+17.2%	3,2 M €	+0.8%	3,2 M €	+3.9%	3,1 M €	+9.7%	2,8 M €	+6.3%	2,6 M €	+7.3%	2,5 M €	+8.9%	2,3 M €	+3.2%	2,2 M €	+3.4%	2,1 M €	+7.7%	2 M €	+0.5%	2 M €	+106%	951,4 k €	+27.8%	744,3 k €	+28.5%	579,4 k €	+38.4%	418,7 k €	+26.6%	330,8 k €
Total assets	5,5 M €	+0.4%	5,5 M €	-7.7%	5,9 M €	+1.8%	5,8 M €	+9.8%	5,3 M €	-5.0%	5,6 M €	-1.0%	5,7 M €	+6.1%	5,3 M €	-5.8%	5,7 M €	+2.7%	5,5 M €	+29.9%	4,2 M €	+21.3%	3,5 M €	+5.6%	3,3 M €	+33.1%	2,5 M €	-4.3%	2,6 M €	+112%	1,2 M €	+24.6%	986,5 k €	+23.1%	801,1 k €	+13.0%	708,9 k €	-32.6%	1,1 M €
Cash	581,7 €	-87.6%	4,7 k €	-94.1%	79,5 k €	-1.9%	81,1 k €	-11.2%	91,2 k €	-57.6%	215,1 k €	-26.8%	293,7 k €	+45.5%	201,9 k €	-53.7%	435,7 k €	+69.9%	256,4 k €	-5.1%	270,2 k €	-20.1%	338,3 k €	+1881231%	18 €	-100.0%	59,5 k €	-81.5%	322,7 k €	+831%	34,7 k €	+38.6%	25 k €	+493%	4,2 k €	-21.5%	5,4 k €	+15.0%	4,7 k €
Debts	1,6 M €	+7.2%	1,5 M €	-25.2%	2 M €	-3.7%	2,1 M €	+2.2%	2 M €	-16.1%	2,4 M €	-7.1%	2,6 M €	+2.0%	2,5 M €	-13.6%	2,9 M €	-2.2%	3 M €	+51.6%	2 M €	+63.8%	1,2 M €	+1.0%	1,2 M €	+137%	503,1 k €	-21.4%	639,8 k €	+131%	277,4 k €	+15.7%	239,8 k €	+8.6%	220,7 k €	-23.6%	288,7 k €	-59.0%	704,8 k €
Other
Workforce	27,8 ETP	+13.0%	24,6 ETP	0.0%	24,6 ETP	+2.5%	24,0 ETP	+8.1%	22,2 ETP	+8.3%	20,5 ETP	+10.8%	18,5 ETP	+17.1%	15,8 ETP	+20.6%	13,1 ETP	+4.0%	12,6 ETP	+18.9%	10,6 ETP	+7.1%	9,9 ETP	-15.4%	11,7 ETP	+24.5%	9,4 ETP	+20.5%	7,8 ETP	+47.2%	5,3 ETP	+130%	2,3 ETP	+35.3%	1,7 ETP	+41.7%	1,2 ETP	+20.0%	1,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 13 ended

Active mandates

Jan De Wit

Chairman of the board of directors · since 27 juin 2023 · until 26 juin 2029

Active

Sam Keytsman

Director · since 27 juin 2023 · until 26 juin 2029

Active

Ended mandates

Diether Thielemans

Director · since 27 juin 2023 · until 26 juin 2029

Ended

Diether Thielemans

Director · since 20 avril 2018 · until 02 mai 2023

Ended

Sam Keytsman

Director · since 20 avril 2018 · until 02 mai 2023

Ended

Jan De Wit

Chairman of the board of directors · since 02 mai 2017 · until 02 mai 2023

Ended

At this address

Other companies at this address

Company	CBE no.
ARTABEL Engineering● Active	0465.597.525
MULTIPROFESSIONELE ARCHITECTENVENNOOTSCHAP ARTABEL● Active	0445.597.412
S&R Group● Active	0834.561.967
S&R Zaventem● Active	1023.631.496
TRIMAX-YACHTS● Active	0451.313.779

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	09/09/2026	18/07/2025	22/08/2024	26/07/2023	28/07/2022	28/08/2021
General meeting	30/06/2026	25/06/2025	26/06/2024	27/06/2023	28/06/2022	25/06/2021
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

23 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	09/09/2026	Dutch	PDF
Full model	31/12/2024	25/06/2025	18/07/2025	Dutch	PDF
m120-f-p	31/12/2024	26/11/2025	28/11/2025	Dutch	PDF
Full model	31/12/2023	26/06/2024	22/08/2024	Dutch	PDF
m120-f-p	31/12/2023	25/06/2024	30/08/2024	Dutch	PDF
Full model	31/12/2022	27/06/2023	26/07/2023	Dutch	PDF
m120-f-p	31/12/2022	27/06/2023	01/09/2023	Dutch	PDF
Full model	31/12/2021	28/06/2022	28/07/2022	Dutch	PDF
Full model	31/12/2020	25/06/2021	28/08/2021	Dutch	PDF
Full model	31/12/2019	07/05/2020	06/08/2020	Dutch	PDF
Full model	31/12/2018	02/05/2019	25/07/2019	Dutch	PDF
Full model	31/12/2017	02/05/2018	17/08/2018	Dutch	PDF
Full model	31/12/2016	02/05/2017	11/07/2017	Dutch	PDF
Full model	31/12/2015	10/06/2016	25/07/2016	Dutch	PDF
Full model	31/12/2014	12/06/2015	02/09/2015	Dutch	PDF
Full model	31/12/2013	13/06/2014	20/08/2014	Dutch	PDF
Full model	31/12/2012	06/05/2013	27/12/2013	Dutch	PDF
Abridged model	31/12/2011	07/05/2012	29/09/2012	Dutch	PDF
Abridged model	31/12/2010	02/05/2011	30/08/2011	Dutch	PDF
Abridged model	31/12/2009	03/05/2010	25/08/2010	Dutch	PDF
Abridged model	31/12/2008	04/05/2009	18/08/2009	Dutch	PDF
Abridged model	31/12/2007	05/05/2008	13/08/2008	Dutch	PDF
Abridged model	31/12/2006	08/05/2007	10/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

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 · 13 ended

Active mandates

Jan De Wit

Chairman of the board of directors · since 27 juin 2023 · until 26 juin 2029

Active

Sam Keytsman

Director · since 27 juin 2023 · until 26 juin 2029

Active

Ended mandates

Diether Thielemans

Director · since 27 juin 2023 · until 26 juin 2029

Ended

Diether Thielemans

Director · since 20 avril 2018 · until 02 mai 2023

Ended

Sam Keytsman

Director · since 20 avril 2018 · until 02 mai 2023

Ended

Jan De Wit

Chairman of the board of directors · since 02 mai 2017 · until 02 mai 2023

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/12/2025
ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
PDF
Other08/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ALGEMENE VERGADERING
PDF
Mandates11/09/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/08/2021
ONTSLAGEN - BENOEMINGEN
PDF
Registered office21/11/2019
MAATSCHAPPELIJKE ZETEL
PDF
Mandates08/05/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/04/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/07/2016
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 2025-84 k €↓
2024
Annual accounts 202440,7 k €↓
2023
Annual accounts 2023173,7 k €↓
2022
Annual accounts 2022556,5 k €↑
2021
Annual accounts 202125,1 k €↓
2020
Annual accounts 2020120,8 k €↓
2019
Annual accounts 2019273,1 k €↑
2018
Annual accounts 2018166,3 k €↓
2017
Annual accounts 2017299,6 k €↑
2016
Annual accounts 2016202,1 k €↑
2015
Annual accounts 201570,5 k €↓
2014
Annual accounts 201471,2 k €↓
2013
Annual accounts 2013152,1 k €↑
2012
Annual accounts 201210,4 k €↓
2011
Annual accounts 20111 M €↑
2010
Annual accounts 2010207,1 k €↑
2009
Annual accounts 2009164,9 k €↑
2008
Annual accounts 2008160,7 k €↑
2007
Annual accounts 200787,9 k €↓
2006
Annual accounts 2006111,4 k €
01/07/1991
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

INNOPA

Overview

What does INNOPA 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