ACTIVE

ICE SA

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Financial year 2025 · closed on 31/12/2025

Net result

266,6 k €

+100.9% YoY

Revenue

31,2 M €

-18.2% YoY

Equity

8,3 M €

+3.3% YoY

Workforce

21,0 ETP

-17.6% YoY

What does ICE SA do?

ICE SA is a Public limited company incorporated in 1991. Its main activity is: Agents involved in the sale of furniture, household goods, hardware and ironmongery. Its registered office is in Bastogne. It employs on average 21,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0445.215.746

Incorporation

13/09/1991

Legal form

Public limited company

Registered office

Rue de la Drève 44
6600 Bastogne · WallonieSee on map

Contributed capital

5 451 375,40 €

Latest accounts

31/12/2025

Average workforce

21,0 ETP

Activities (NACE)

46150Agents involved in the sale of furniture, household goods, hardware and ironmongery· main 46150Agents involved in the sale of furniture, household goods, hardware and ironmongery 46649Wholesale of machinery for the textile industry and of sewing and knitting machines 46699Wholesale of other machinery and equipment 51873Air transport 73110Advertising agencies+2

Joint committees (3)

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	31,2 M €	-18.2%	38,1 M €	+20.3%	31,7 M €	+39.8%	22,7 M €	-10.0%	25,2 M €	-24.4%	33,3 M €	-3.7%	34,6 M €	+18.3%	29,2 M €	-11.2%	32,9 M €	+288%	8,5 M €	-14.1%	9,9 M €	-8.1%	10,8 M €	+24.4%	8,6 M €		–		–		–		1,4 M €		–
EBITDA	840,2 k €	-18.2%	1 M €	+0.7%	1 M €	-9.2%	1,1 M €	-7.6%	1,2 M €	-30.9%	1,8 M €	+29.6%	1,4 M €	+6.9%	1,3 M €	-18.4%	1,6 M €	+58.1%	984,2 k €	-59.6%	2,4 M €	+168%	910,2 k €	-32.8%	1,4 M €	+510%	222,3 k €	+115%	103,4 k €	+14.3%	90,5 k €	-1.6%	92 k €	+136%	38,9 k €
Operating result	834,7 k €	+26.7%	659 k €	+40.5%	469 k €	-14.5%	548,5 k €	-20.9%	693,4 k €	-4.8%	728,5 k €	+37.6%	529,3 k €	-9.2%	582,9 k €	-49.9%	1,2 M €	+5168%	-23 k €	-101%	2 M €	+267%	555,6 k €	-53.5%	1,2 M €	+1560%	72 k €	+168%	26,9 k €	+96.8%	13,7 k €	-62.3%	36,3 k €	+782%	4,1 k €
Net result	266,6 k €	+101%	132,7 k €	-55.2%	296,5 k €	+1209%	22,7 k €	-93.6%	356,6 k €	+37.0%	260,3 k €	+679%	-45 k €	+72.1%	-161,3 k €	-136%	450,9 k €	+271%	-263,4 k €	-127%	980,8 k €	+584%	-202,5 k €	-126%	774,8 k €	+3985%	19 k €	-22.9%	24,6 k €	+71.9%	14,3 k €	+87.3%	7,6 k €	-42.6%	13,3 k €
Balance sheet
Equity	8,3 M €	+3.3%	8,1 M €	+1.6%	7,9 M €	-34.0%	12 M €	-0.1%	12 M €	+5.0%	11,4 M €	+2.0%	11,2 M €	-0.8%	11,3 M €	+227%	3,5 M €	+119%	1,6 M €	-15.0%	1,9 M €	+111%	885,7 k €	-18.9%	1,1 M €	+222%	339,4 k €	+3.4%	328,1 k €	+25.4%	261,5 k €	+11.4%	234,7 k €	+3.2%	227,5 k €
Total assets	30,2 M €	+11.1%	27,2 M €	+19.0%	22,9 M €	-11.5%	25,8 M €	-6.9%	27,8 M €	-25.2%	37,1 M €	+0.9%	36,8 M €	-12.3%	41,9 M €	+2.9%	40,7 M €	+204%	13,4 M €	-14.5%	15,7 M €	+100%	7,8 M €	+63.3%	4,8 M €	+30.0%	3,7 M €	+202%	1,2 M €	+41.0%	865,8 k €	+42.2%	608,8 k €	+28.9%	472,3 k €
Cash	837,9 k €	-3.8%	871,1 k €	-24.4%	1,2 M €	-52.1%	2,4 M €	+0.6%	2,4 M €	-1.9%	2,4 M €	+2.8%	2,4 M €	+21.8%	1,9 M €	-23.3%	2,5 M €	+161%	970,3 k €	+177%	349,9 k €	-35.1%	538,9 k €	+332%	124,7 k €	-66.8%	375,6 k €	+858%	39,2 k €	+37.8%	28,5 k €	-75.7%	117 k €	+258%	32,7 k €
Debts	21 M €	+14.6%	18,3 M €	+28.6%	14,2 M €	+10.8%	12,9 M €	-12.9%	14,8 M €	-39.8%	24,5 M €	-1.1%	24,8 M €	-18.0%	30,2 M €	-17.5%	36,6 M €	+211%	11,8 M €	-14.5%	13,8 M €	+143%	5,7 M €	+149%	2,3 M €	-24.9%	3 M €	+271%	814,6 k €	+36.8%	595,3 k €	+72.0%	346,1 k €	+44.1%	240,2 k €
Other
Workforce	21,0 ETP	-17.6%	25,5 ETP	+19.7%	21,3 ETP	-13.8%	24,7 ETP	-10.2%	27,5 ETP	-41.1%	46,7 ETP	+5.7%	44,2 ETP	+25.6%	35,2 ETP	-2.2%	36,0 ETP	+17.3%	30,7 ETP	-13.3%	35,4 ETP	+43.9%	24,6 ETP	+67.3%	14,7 ETP	+465%	2,6 ETP	+1200%	0,2 ETP	-80.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 22 ended

Active mandates

Jean-Pierre LUTGEN

Director · since 30 juin 2023 · until 02 juin 2029

Active

Laurence JACQUES

Director · since 30 juin 2023 · until 02 juin 2029

Active

Ended mandates

Jean-Michel LUDOVICY

Director · since 16 septembre 2017 · until 03 juin 2023

Ended

Jean-Pierre LUTGEN

Director · since 16 septembre 2017 · until 03 juin 2023

Ended

Jean-Pierre LUTGEN

Managing director · since 16 septembre 2017 · until 03 juin 2023

Ended

Laurence JACQUES

Director · since 16 septembre 2017 · until 03 juin 2023

Ended

At this address

Other companies at this address

Company	CBE no.
BEWATCH● Active	0645.774.629
ICE ECO-QUARTIER● Active	0698.862.531
ICE HEALTH● Active	0676.633.396
ICE HOLDING● Active	0830.952.973
ICE INTERNATIONAL● Active	0423.890.295
ICE LOUISE● Active	0846.999.446
ICE Mc AULIFFE● Active	0844.926.022
ICE PATRIMONIAL● Active	0674.517.808
Warehouse 44● Active	0804.957.468

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	25/06/2026	30/06/2025	29/08/2024	17/08/2023	30/06/2022	30/09/2021
General meeting	06/06/2026	07/06/2025	29/06/2024	30/06/2023	25/06/2022	24/09/2021
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
Full model	31/12/2025	06/06/2026	25/06/2026	French	PDF
Full model	31/12/2024	07/06/2025	30/06/2025	French	PDF
Full model	31/12/2023	29/06/2024	29/08/2024	French	PDF
Full model	31/12/2022	30/06/2023	17/08/2023	French	PDF
Full model	31/12/2021	25/06/2022	30/06/2022	French	PDF
Full model	31/12/2020	24/09/2021	30/09/2021	French	PDF
Full model	31/12/2019	27/04/2021	16/07/2021	French	PDF
Full model	31/12/2018	11/03/2020	29/05/2020	French	PDF
Full model	31/12/2017	17/12/2018	21/12/2018	French	PDF
Full model	31/12/2016	16/09/2017	29/09/2017	French	PDF
Full model	31/12/2015	21/10/2016	08/11/2016	French	PDF
Full model	31/12/2014	07/10/2015	11/03/2016	French	PDF
Full model	31/12/2013	30/07/2014	31/07/2014	French	PDF
Full model	31/12/2012	29/08/2013	30/08/2013	French	PDF
Full model	31/12/2011	02/06/2012	21/09/2012	French	PDF
Abridged model	31/12/2010	04/06/2011	25/08/2011	French	PDF
Abridged model	31/12/2009	05/06/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	06/06/2009	17/08/2009	French	PDF
Abridged model	31/12/2007	07/06/2008	26/08/2008	French	PDF
Abridged model	31/12/2006	02/06/2007	10/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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 · 22 ended

Active mandates

Jean-Pierre LUTGEN

Director · since 30 juin 2023 · until 02 juin 2029

Active

Laurence JACQUES

Director · since 30 juin 2023 · until 02 juin 2029

Active

Ended mandates

Jean-Michel LUDOVICY

Director · since 16 septembre 2017 · until 03 juin 2023

Ended

Jean-Pierre LUTGEN

Director · since 16 septembre 2017 · until 03 juin 2023

Ended

Jean-Pierre LUTGEN

Managing director · since 16 septembre 2017 · until 03 juin 2023

Ended

Laurence JACQUES

Director · since 16 septembre 2017 · until 03 juin 2023

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other31/08/2026
PROCES-VERBAL DE SCISSION PARTIELLE PAR CONSTITUTION D'UNE
PDF
Restructuring05/06/2026
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Registered office22/05/2026
SIEGE SOCIAL
PDF
Mandates10/11/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates17/11/2023
DEMISSIONS, NOMINATIONS
PDF
Restructuring19/09/2023
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring29/06/2023
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates09/03/2023
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

2025
Annual accounts 2025266,6 k €↑
2024
Annual accounts 2024132,7 k €↓
2023
Annual accounts 2023296,5 k €↑
2022
Annual accounts 202222,7 k €↓
2021
Annual accounts 2021356,6 k €↑
2019
Annual accounts 2019260,3 k €↑
2018
Annual accounts 2018-45 k €↑
2017
Annual accounts 2017-161,3 k €↓
2016
Annual accounts 2016450,9 k €↑
2014
Annual accounts 2014-263,4 k €↓
2013
Annual accounts 2013980,8 k €↑
2012
Annual accounts 2012-202,5 k €↓
2012
Name changeICE
2011
Annual accounts 2011774,8 k €↑
2010
Annual accounts 201019 k €↓
2009
Annual accounts 200924,6 k €↑
2008
Annual accounts 200814,3 k €↑
2007
Annual accounts 20077,6 k €↓
2006
Annual accounts 200613,3 k €
2006
Name changeTKS
13/09/1991
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

ICE SA

Overview

What does ICE SA do?

Trend over 18 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