ACTIVE

ISABEL

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Financial year 2025 · Closed on 31/12/2025

Net result13,2 M €-95,7 %over 1 year
Revenue68,5 M €+5,2 %over 1 year
Equity73,5 M €-49,4 %over 1 year
Workforce151,6 ETP+11,2 %over 1 year

Identity

Source · BCE/KBO

ISABEL is a Public limited company incorporated in 1995. Its main activity is: Computer programming activities. Its registered office is in Bruxelles. It employs on average 151,6 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0455.530.509
Incorporation
23/06/1995
Legal form
Public limited company
Registered office
Place Sainte-Gudule 14
1000 Bruxelles · BruxellesSee on map
Contributed capital
3 200 000,00 €
Latest accounts
31/12/2025
Average workforce
151,6 ETP
Joint committees (2)
  • 200
  • 218
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 30 filings

Trend over 15 financial years

20252024202320222021
Income statement
Revenue68,5 M €65,1 M €64,8 M €59,3 M €58,3 M €
EBITDA15,2 M €110 k €19,3 M €13,6 M €15,6 M €
Operating result13,3 M €-1,7 M €18,2 M €12,2 M €14 M €
Net result13,2 M €310,1 M €13,9 M €8,7 M €10,2 M €
Balance sheet
Equity73,5 M €145,3 M €80,3 M €66,4 M €57,6 M €
Total assets170,5 M €391,2 M €93,2 M €79,2 M €67,3 M €
Cash26,8 M €29,8 M €14,8 M €27,4 M €24,2 M €
Debts95,5 M €244,8 M €12,1 M €10,4 M €8,8 M €
Other
Workforce151,6 ETP136,3 ETP139,9 ETP146,3 ETP138,9 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 250 M€ and 500 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

8 active · 86 ended

Active mandates

Alessandra Guion

Director · since 08 novembre 2024 · until 02 mai 2030

Active
Tom Swerts

Director · since 22 août 2023 · until 02 mai 2030

Active
Kris De Ryck

Managing director · since 09 août 2023 · until 02 mai 2029

Active
Bram Somers

Chairman of the board of directors · since 31 janvier 2023 · until 18 avril 2026

Active
François Franssen

Director · since 24 juin 2022 · until 02 mai 2029

Active
Maarten Van Royen

Director · since 25 juin 2021 · until 17 avril 2026

Active
Filip Rombouts

Director · since 10 novembre 2017 · until 02 mai 2029

Active
Frank Stockx

Director · since 01 février 2016 · until 20 avril 2026

Active

Ended mandates

Tom Swerts

Director · since 22 août 2023 · until 02 mai 2024

Ended
Bram Somers

Chairman of the board of directors · since 31 janvier 2023 · until 02 mai 2029

Ended
Bram Somers

Director · since 31 janvier 2023 · until 03 mai 2023

Ended
François Franssen

Director · since 15 novembre 2022 · until 03 mai 2023

Ended

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Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelConsolidated accounts
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date27/05/202623/05/202527/05/202425/05/202319/05/202226/05/2021
General meeting06/05/202607/05/202502/05/202403/05/202304/05/202205/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 30 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202506/05/202627/05/2026DutchPDF
Consolidated accounts31/12/202506/05/202627/05/2026DutchPDF
Full model31/12/202407/05/202523/05/2025DutchPDF
Consolidated accounts31/12/202407/05/202523/05/2025DutchPDF
Full model31/12/202302/05/202427/05/2024DutchPDF
Consolidated accounts31/12/202302/05/202427/05/2024DutchPDF
Full model31/12/202203/05/202325/05/2023DutchPDF
Consolidated accounts31/12/202203/05/202325/05/2023DutchPDF
Full model31/12/202104/05/202219/05/2022DutchPDF
Consolidated accounts31/12/202104/05/202219/05/2022DutchPDF
Full model31/12/202005/05/202125/05/2021DutchPDF
Consolidated accounts31/12/202005/05/202126/05/2021DutchPDF
Full model31/12/201906/05/202026/05/2020DutchPDF
Consolidated accounts31/12/201906/05/202026/05/2020DutchPDF
Full model31/12/201802/05/201923/05/2019DutchPDF
Consolidated accounts31/12/201802/05/201923/05/2019DutchPDF
Full model31/12/201702/05/201801/06/2018DutchPDF
Consolidated accounts31/12/201702/05/201801/06/2018DutchPDF
Full model31/12/201603/05/201716/05/2017DutchPDF
Consolidated accounts31/12/201602/05/201716/05/2017DutchPDF
Full model31/12/201506/04/201627/04/2016DutchPDF
Full model31/12/201401/04/201529/04/2015DutchPDF
Full model31/12/201302/04/201425/04/2014DutchPDF
Full model31/12/201203/04/201315/07/2013DutchPDF
Full model31/12/201104/04/201224/04/2012DutchPDF
Full model31/12/201006/04/201110/05/2011DutchPDF
Full model31/12/200907/04/201009/09/2010DutchPDF
Full model31/12/200801/04/200919/05/2009DutchPDF
Full model31/12/200702/04/200813/05/2008FrenchPDF
Full model31/12/200604/04/200717/04/2007FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 M€ and 500 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.

Board of directors

Source · NBB, accounts to 31/12/2025

8 active · 86 ended

Active mandates

Alessandra Guion

Director · since 08 novembre 2024 · until 02 mai 2030

Active
Tom Swerts

Director · since 22 août 2023 · until 02 mai 2030

Active
Kris De Ryck

Managing director · since 09 août 2023 · until 02 mai 2029

Active
Bram Somers

Chairman of the board of directors · since 31 janvier 2023 · until 18 avril 2026

Active
François Franssen

Director · since 24 juin 2022 · until 02 mai 2029

Active
Maarten Van Royen

Director · since 25 juin 2021 · until 17 avril 2026

Active
Filip Rombouts

Director · since 10 novembre 2017 · until 02 mai 2029

Active
Frank Stockx

Director · since 01 février 2016 · until 20 avril 2026

Active

Ended mandates

Tom Swerts

Director · since 22 août 2023 · until 02 mai 2024

Ended
Bram Somers

Chairman of the board of directors · since 31 janvier 2023 · until 02 mai 2029

Ended
Bram Somers

Director · since 31 janvier 2023 · until 03 mai 2023

Ended
François Franssen

Director · since 15 novembre 2022 · until 03 mai 2023

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Registered office24/07/2026
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates02/06/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other03/03/2026
    DIVERSEN
    PDF
  • Mandates30/10/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates20/06/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates04/12/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates16/07/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates11/10/2023
    ONTSLAGEN - BENOEMINGEN
    PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 06/05/2026
    nominationMario De Vry — bestuurder
  2. 06/05/2026
    nominationLieve De Mol — bestuurder
  3. 2025
    Annual accounts 202513,2 M €↓
  4. 2024
    Annual accounts 2024310,1 M €↑
  5. 08/11/2024
    nominationAlessandra Guion — externe bestuurder
  6. 02/05/2024
    nominationTom Swerts — bestuurder
  7. 2023
    Annual accounts 202313,9 M €↑
  8. 09/08/2023
    nominationKris De Rijck — gedelegeerde bestuurder
  9. 09/08/2023
    nominationKris De Ryck — bestuurder en als gedelegeerd bestuurder belast met het dagelijks bestuur
  10. 03/05/2023
    nominationFrançois Franssen — bestuurder
  11. 03/05/2023
    nominationBram Somers — bestuurder
  12. 03/05/2023
    reconductionFilip Rombouts — bestuurder
  13. 2022
    Annual accounts 20228,7 M €↓
  14. 04/05/2022
    nominationPricewaterhouseCoopers - bedrijfsrevisoren BV — commissaris
  15. 04/05/2022
    reconductionFrank Stockx — extern bestuurder
  16. 2021
    Annual accounts 202110,2 M €↑
  17. 25/11/2021
    nominationBart De Rauw — bestuurder
  18. 24/06/2021
    nominationMaarten Van Royen — bestuurder
  19. 05/05/2021
    reconductionKPMG Bedrijfsrevisoren Burg. CVBA — commissaris
  20. 22/02/2021
    nominationDirk Ector — bestuurder
  21. 2020
    Annual accounts 20208,1 M €↓
  22. 2019
    Annual accounts 20198,2 M €↓
  23. 2018
    Annual accounts 20188,6 M €↑
  24. 2016
    Annual accounts 20163,4 M €↓
  25. 2015
    Annual accounts 20154,3 M €↓
  26. 2014
    Annual accounts 20145,1 M €↑
  27. 2011
    Annual accounts 2011824 k €↑
  28. 2008
    Annual accounts 2008-4,2 M €↓
  29. 2007
    Annual accounts 20071,3 M €↓
  30. 2006
    Annual accounts 20063,6 M €
  31. 23/06/1995
    IncorporationPublic limited company