ACTIVE

IPSOS

Financial year 2025 · closed on 31/12/2025
Net result
3,4 M €
+31.0% YoY
Revenue
58,6 M €
+2.8% YoY
Equity
9,8 M €
+16.5% YoY
Workforce
176,4 ETP
+5.4% YoY

What does IPSOS do?

IPSOS is a Public limited company incorporated in 1996. Its main activity is: Management consultancy activities. Its registered office is in Antwerpen. It employs on average 176,4 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0456.823.775
Incorporation
04/01/1996
Legal form
Public limited company
Registered office
Grotesteenweg 110
2600 Antwerpen · FlandreSee on map
Contributed capital
1 895 076,00 €
Latest accounts
31/12/2025
Average workforce
176,4 ETP
Joint committees (2)
  • 200
  • 218
Signals
ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 18 financial years

202520242023202220212020201920182017201620152014201320122011200920082007
Income statement
Revenue58,6 M €57 M €54 M €49,2 M €45,9 M €35,8 M €37,1 M €29,3 M €26 M €21,5 M €23,8 M €21,3 M €16,9 M €16,2 M €14,7 M €13,2 M €12,6 M €12 M €
EBITDA5,1 M €5 M €4,3 M €5,1 M €4,2 M €1,6 M €1,6 M €1,8 M €1,4 M €1,3 M €421,1 k €521,3 k €140,1 k €706,2 k €1,2 M €80,5 k €1,1 M €1,3 M €
Operating result4,6 M €4,4 M €3,7 M €4,5 M €3,7 M €1,1 M €1,1 M €1,6 M €1,3 M €1,1 M €-351,6 k €-192,6 k €-594,9 k €-53 k €403,2 k €-609 k €416,2 k €588,7 k €
Net result3,4 M €2,6 M €2,7 M €2,7 M €2,7 M €734,6 k €682,7 k €935,8 k €696,6 k €-33,8 M €-885,4 k €1,4 M €-831,3 k €-378,8 k €-286,1 k €-621,3 k €56,6 k €62,1 k €
Balance sheet
Equity9,8 M €8,4 M €8,5 M €8,3 M €7 M €5,1 M €4,4 M €3,7 M €2,8 M €2,1 M €8,5 M €10,6 M €9,2 M €10 M €10,4 M €1,6 M €2,2 M €2,2 M €
Total assets37,1 M €34,4 M €31 M €27,1 M €25,8 M €20,7 M €21,5 M €18,3 M €15,5 M €14,1 M €49,5 M €27,4 M €22,3 M €36,1 M €34,5 M €13,9 M €14 M €12,8 M €
Cash5,6 M €4,5 M €6,2 M €6,2 M €2 M €834,1 k €1,6 M €734 k €1,3 M €1,3 M €967,7 k €859,9 k €506,4 k €910,6 k €613,6 k €1,2 M €808,4 k €1,1 M €
Debts24,4 M €21 M €19,3 M €15,7 M €16,2 M €13,5 M €15,5 M €12,9 M €10,6 M €10,3 M €39,4 M €15,3 M €11,1 M €25 M €24,1 M €12,3 M €11,8 M €10,7 M €
Other
Workforce176,4 ETP167,3 ETP168,3 ETP169,4 ETP149,5 ETP147,0 ETP154,9 ETP138,6 ETP124,9 ETP116,7 ETP118,1 ETP92,6 ETP88,9 ETP83,4 ETP86,4 ETP59,4 ETP60,7 ETP60,1 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 23 ended

Active mandates

Poitou Jean Laurent

bestuurder · since 15 septembre 2025 · until 16 mai 2031

Active
Veerle Cosyns

bestuurder · since 24 juillet 2024 · until 23 juillet 2028

Active
Benjamin Page

bestuurder · since 17 novembre 2022 · until 15 septembre 2025

Active
Gerd Callewaert

Gedeleerd bestuurder · since 17 novembre 2022 · until 16 novembre 2028

Active

Ended mandates

Veerle Cosyns

Director · since 24 juillet 2024 · until 23 juillet 2028

Ended
Benjamin Page

bestuurder · since 17 novembre 2022 · until 16 novembre 2028

Ended
Benjamin Page

Director · since 17 novembre 2022 · until 16 novembre 2028

Ended
Gerd Callewaert

Managing director · since 17 novembre 2022 · until 16 novembre 2028

Ended
At this address

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Annual accounts

Full financial information

202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
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 date04/08/202601/07/202510/06/202418/07/202329/07/202216/07/2021
General meeting30/06/202625/06/202517/05/202430/06/202329/06/202218/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

22 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202530/06/202604/08/2026DutchPDF
Full model31/12/202425/06/202501/07/2025DutchPDF
Full model31/12/202317/05/202410/06/2024DutchPDF
Full model31/12/202230/06/202318/07/2023DutchPDF
Full model31/12/202129/06/202229/07/2022DutchPDF
Full model31/12/202018/06/202116/07/2021DutchPDF
Full model31/12/201914/08/202008/09/2020DutchPDF
Full model31/12/201802/08/201928/08/2019DutchPDF
Full model31/12/201718/05/201806/07/2018DutchPDF
Full model31/12/201628/06/201730/06/2017DutchPDF
Full model31/12/201529/06/201629/06/2016DutchPDF
Full model31/12/201429/06/201528/07/2015DutchPDF
Full model31/12/201325/06/201430/06/2014DutchPDF
Full model31/12/201202/12/201306/12/2013DutchPDF
Full modelCorrection31/12/201129/06/201207/11/2012DutchPDF
Full model31/12/201129/06/201231/08/2012DutchPDF
Full model31/12/201020/05/201129/07/2011DutchPDF
Full model31/12/200921/05/201010/06/2010DutchPDF
Full model31/12/200815/05/200931/07/2009DutchPDF
Full model31/12/200730/06/200829/08/2008DutchPDF
Full model31/12/200629/06/200726/07/2007DutchPDF
Full modelCorrection31/12/200520/06/200618/07/2007DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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 · 4 active · 23 ended

Active mandates

Poitou Jean Laurent

bestuurder · since 15 septembre 2025 · until 16 mai 2031

Active
Veerle Cosyns

bestuurder · since 24 juillet 2024 · until 23 juillet 2028

Active
Benjamin Page

bestuurder · since 17 novembre 2022 · until 15 septembre 2025

Active
Gerd Callewaert

Gedeleerd bestuurder · since 17 novembre 2022 · until 16 novembre 2028

Active

Ended mandates

Veerle Cosyns

Director · since 24 juillet 2024 · until 23 juillet 2028

Ended
Benjamin Page

bestuurder · since 17 novembre 2022 · until 16 novembre 2028

Ended
Benjamin Page

Director · since 17 novembre 2022 · until 16 novembre 2028

Ended
Gerd Callewaert

Managing director · since 17 novembre 2022 · until 16 novembre 2028

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates05/11/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates07/10/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates22/01/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates24/11/2022
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - DOEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates07/01/2021
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates14/06/2018
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Capital / shares24/01/2017
    KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Restructuring30/07/2015
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    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

Timeline

  1. 2025
    Annual accounts 20253,4 M €
  2. 2024
    Annual accounts 20242,6 M €
  3. 2023
    Annual accounts 20232,7 M €
  4. 2022
    Annual accounts 20222,7 M €
  5. 2021
    Annual accounts 20212,7 M €
  6. 2020
    Annual accounts 2020734,6 k €
  7. 2019
    Annual accounts 2019682,7 k €
  8. 2018
    Annual accounts 2018935,8 k €
  9. 2017
    Annual accounts 2017696,6 k €
  10. 2016
    Annual accounts 2016-33,8 M €
  11. 2015
    Annual accounts 2015-885,4 k €
  12. 2014
    Annual accounts 20141,4 M €
  13. 2013
    Annual accounts 2013-831,3 k €
  14. 2012
    Annual accounts 2012-378,8 k €
  15. 2011
    Annual accounts 2011-286,1 k €
  16. 2011
    Name changeIpsos
  17. 2009
    Annual accounts 2009-621,3 k €
  18. 2008
    Annual accounts 200856,6 k €
  19. 2007
    Annual accounts 200762,1 k €
  20. 2007
    Name changeSYNOVATE
  21. 04/01/1996
    IncorporationPublic limited company