ACTIVE

IPAL

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Financial year 2025 · closed on 31/12/2025

Net result

190,2 k €

+105.8% YoY

Gross margin

203,6 k €

+138.3% YoY

Equity

1,8 M €

+11.8% YoY

What does IPAL do?

IPAL is a Private limited company incorporated in 1991. Its main activity is: Activities of holding companies. Its registered office is in Gerpinnes.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0445.492.690

Incorporation

15/10/1991

Legal form

Private limited company

Registered office

Allée Verte(GER) 7
6280 Gerpinnes · WallonieSee on map

Contributed capital

30 986,69 €

Latest accounts

31/12/2025

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 46620Wholesale of machine tools 46620Wholesale of machine tools 46630Wholesale of mining, construction and civil engineering machinery 46630Wholesale of mining, construction and civil engineering machinery+4

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDA

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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
Gross margin	203,6 k €	+138%	85,4 k €	-10.0%	94,9 k €	-70.7%	324,4 k €	-43.0%	569,1 k €	+215%	180,9 k €	+18.2%	153 k €	+34.9%	113,4 k €	-27.0%	155,3 k €	+53.7%	101,1 k €	-45.8%	186,4 k €	-7.4%	201,2 k €	+21.0%	166,2 k €	-4.9%	174,8 k €	-4.9%	183,9 k €	+115%	85,4 k €	+46.8%	58,2 k €	+15.5%	50,4 k €	-37.0%	79,9 k €	-6.5%	85,5 k €
EBITDA	196,1 k €	+427%	37,2 k €	-57.6%	87,7 k €	-72.3%	317,2 k €	-42.6%	552,3 k €	+219%	173,3 k €	+19.7%	144,8 k €	+18.2%	122,5 k €	-0.1%	122,6 k €	+46.5%	83,6 k €	-16.7%	100,4 k €	-10.6%	112,3 k €	+8.4%	103,6 k €	-14.7%	121,4 k €	+25.7%	96,6 k €	+42.0%	68 k €	+147%	27,5 k €	+14.3%	24 k €	-34.8%	36,9 k €	-17.1%	44,5 k €
Operating result	128,4 k €	+399%	-42,9 k €	-426%	13,2 k €	-94.6%	241,8 k €	-51.1%	494,8 k €	+258%	138,2 k €	+32.1%	104,6 k €	+35.5%	77,2 k €	+0.8%	76,6 k €	+100%	38,3 k €	-12.2%	43,6 k €	-30.5%	62,8 k €	+6.6%	58,9 k €	-21.0%	74,5 k €	+89.5%	39,3 k €	+84.1%	21,4 k €	+67.6%	12,7 k €	+33.8%	9,5 k €	-43.7%	16,9 k €	-34.2%	25,7 k €
Net result	190,2 k €	+106%	92,4 k €	+297%	23,3 k €	-88.9%	208,9 k €	-69.6%	688 k €	+739%	82 k €	-39.6%	135,8 k €	+235%	40,6 k €	+87.4%	21,7 k €	-51.9%	45,1 k €	+6020%	736,3 €	-99.3%	103,2 k €	+64.7%	62,7 k €	-4.8%	65,8 k €	+93595%	70,3 €	-94.4%	1,3 k €	-70.9%	4,3 k €	+135%	1,8 k €	-60.2%	4,6 k €	+141%	1,9 k €
Balance sheet
Equity	1,8 M €	+11.8%	1,6 M €	+6.0%	1,5 M €	+1.5%	1,5 M €	+16.3%	1,3 M €	+100.0%	637,5 k €	+14.8%	555,5 k €	+32.4%	419,7 k €	+10.7%	379,1 k €	+6.1%	357,4 k €	+14.4%	312,4 k €	+0.2%	311,7 k €	+49.5%	208,4 k €	+43.0%	145,8 k €	+82.3%	79,9 k €	+0.1%	79,9 k €	+1.6%	78,6 k €	+3.9%	75,6 k €	+2.5%	73,8 k €	+6.7%	69,2 k €
Total assets	2,5 M €	+0.9%	2,5 M €	-0.8%	2,5 M €	+15.2%	2,2 M €	+1.7%	2,1 M €	+60.3%	1,3 M €	-3.9%	1,4 M €	+1.4%	1,4 M €	-3.8%	1,4 M €	-5.0%	1,5 M €	-11.7%	1,7 M €	+12.6%	1,5 M €	+1.3%	1,5 M €	-6.7%	1,6 M €	+4.0%	1,5 M €	+71.8%	891 k €	+164%	336,9 k €	-1.0%	340,3 k €	-5.7%	361 k €	+3.1%	350,2 k €
Cash	21,3 k €	-95.9%	515,1 k €	+2616%	19 k €	-37.3%	30,2 k €	-41.7%	51,9 k €	+260%	14,4 k €	-68.7%	46,1 k €	+145%	18,9 k €	+171%	7 k €	-48.5%	13,5 k €	+5.2%	12,8 k €	-37.6%	20,5 k €	+100%	10,3 k €	-78.2%	47,2 k €	-11.7%	53,4 k €		–		10,6 k €	-23.3%	13,9 k €	+90.6%	7,3 k €	+21577%	33,6 €
Debts	580,1 k €	-22.1%	744,5 k €	-12.7%	852,7 k €	+56.5%	544,8 k €	-23.9%	715,7 k €	+40.0%	511,2 k €	-21.1%	647,7 k €	-11.9%	735 k €	-8.0%	799,3 k €	-13.3%	922,4 k €	-20.8%	1,2 M €	+19.8%	971,7 k €	-8.7%	1,1 M €	-14.2%	1,2 M €	-2.1%	1,3 M €	+84.2%	688,2 k €	+373%	145,5 k €	-13.1%	167,4 k €	-20.5%	210,4 k €	-8.5%	230,1 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		1,0 ETP		–		1,0 ETP	+100%	0,5 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 · 1 active · 2 ended

Active mandates

Jürgen ALEXIUS

Director

Active

Ended mandates

Jürgen ALEXIUS

Mandate

Ended

Jürgen ALEXIUS

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
GLOBAL TECHNICAL SERVICE CONSULTING● Active	1002.487.971
Immo-JST Alexius● Active	0766.875.862
SWMC● Active	0797.737.106

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Micro model	Micro 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	07/07/2026	15/07/2025	24/07/2024	28/06/2023	30/08/2022	31/08/2021
General meeting	13/06/2026	14/06/2025	08/06/2024	10/06/2023	08/07/2022	12/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	13/06/2026	07/07/2026	French	PDF
Abridged model	31/12/2024	14/06/2025	15/07/2025	French	PDF
Abridged model	31/12/2023	08/06/2024	24/07/2024	French	PDF
Abridged model	31/12/2022	10/06/2023	28/06/2023	French	PDF
Micro model	31/12/2021	08/07/2022	30/08/2022	French	PDF
Micro model	31/12/2020	12/06/2021	31/08/2021	French	PDF
Micro model	31/12/2019	24/08/2020	08/09/2020	French	PDF
Micro model	31/12/2018	08/06/2019	23/07/2019	French	PDF
Micro model	31/12/2017	09/06/2018	31/08/2018	French	PDF
Micro model	31/12/2016	10/06/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	11/06/2016	24/08/2016	French	PDF
Abridged model	31/12/2014	13/06/2015	15/09/2015	French	PDF
Abridged model	31/12/2013	14/06/2014	29/08/2014	French	PDF
Abridged model	31/12/2012	08/06/2013	30/08/2013	French	PDF
Abridged model	31/12/2011	09/06/2012	28/09/2012	French	PDF
Abridged model	31/12/2010	11/06/2011	26/07/2011	French	PDF
Abridged model	31/12/2009	12/06/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	13/06/2009	21/08/2009	French	PDF
Abridged model	31/12/2007	14/06/2008	28/10/2008	French	PDF
Abridged model	31/12/2006	09/06/2007	31/08/2007	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 · 1 active · 2 ended

Active mandates

Jürgen ALEXIUS

Director

Active

Ended mandates

Jürgen ALEXIUS

Mandate

Ended

Jürgen ALEXIUS

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates27/11/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DIVERS - DEMISSIONS, NOMINATIONS - CAPITAL, ACTIONS
PDF
Mandates19/02/2004
DEMISSIONS, NOMINATIONS - OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - ASSEMBLEE GENERALE - CAPITAL, ACTIONS - 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 2025190,2 k €↑
2024
Annual accounts 202492,4 k €↑
2023
Annual accounts 202323,3 k €↓
2022
Annual accounts 2022208,9 k €↓
2021
Annual accounts 2021688 k €↑
2020
Annual accounts 202082 k €↓
2019
Annual accounts 2019135,8 k €↑
2018
Annual accounts 201840,6 k €↑
2017
Annual accounts 201721,7 k €↓
2016
Annual accounts 201645,1 k €↑
2015
Annual accounts 2015736,3 €↓
2014
Annual accounts 2014103,2 k €↑
2013
Annual accounts 201362,7 k €↓
2012
Annual accounts 201265,8 k €↑
2011
Annual accounts 201170,3 €↓
2010
Annual accounts 20101,3 k €↓
2009
Annual accounts 20094,3 k €↑
2008
Annual accounts 20081,8 k €↓
2007
Annual accounts 20074,6 k €↑
2006
Annual accounts 20061,9 k €
15/10/1991
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

IPAL

Overview

What does IPAL 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