ACTIVE

INDICO

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Financial year 2025 · closed on 31/12/2025

Net result

-98,3 k €

+30.6% YoY

Gross margin

-61,5 k €

+49.7% YoY

Equity

60,1 k €

-62.0% YoY

What does INDICO do?

INDICO is a Private limited company incorporated in 1997. Its main activity is: Management consultancy activities. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0462.096.023

Incorporation

12/12/1997

Legal form

Private limited company

Registered office

Adriaan Brouwerstraat 27 box 301
2000 Antwerpen · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74879Other professional, scientific and technical activities 82990Other business support service activities n.e.c.82990Other business support service activities n.e.c.

Joint committees (2)

Signals

Solid equityGood liquidity

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
Gross margin	-61,5 k €	+49.7%	-122,2 k €	-206%	-39,9 k €	-172%	-14,7 k €	+47.2%	-27,8 k €	-31.2%	-21,2 k €	-4.5%	-20,3 k €	-323%	-4,8 k €	+31.9%	-7 k €	+43.6%	-12,5 k €	+53.1%	-26,6 k €	-60.9%	-16,5 k €	+53.2%	-35,3 k €	-161%	58,3 k €	+274%	15,6 k €	-55.4%	34,9 k €	+272%	9,4 k €	-74.7%	37,1 k €	+18.0%	31,5 k €	-5.7%	33,4 k €
EBITDA	-66,2 k €	+47.8%	-126,9 k €	-181%	-45,1 k €	-132%	-19,4 k €	+37.8%	-31,2 k €	-28.9%	-24,2 k €	-1.2%	-23,9 k €	-223%	-7,4 k €	+34.6%	-11,3 k €	+21.7%	-14,5 k €	+50.5%	-29,3 k €	-56.7%	-18,7 k €	+51.1%	-38,2 k €	-168%	56,1 k €	+308%	13,7 k €	-58.4%	33 k €	+358%	7,2 k €	-77.0%	31,3 k €	+9.0%	28,8 k €	-5.9%	30,6 k €
Operating result	-85,4 k €	+42.7%	-149,1 k €	-69.0%	-88,2 k €	-130%	-38,4 k €	-16.2%	-33,1 k €	-24.7%	-26,5 k €	+1.3%	-26,9 k €	-187%	-9,4 k €	+24.9%	-12,5 k €	+14.1%	-14,5 k €	+51.5%	-29,9 k €	-52.8%	-19,6 k €	+51.0%	-40 k €	-173%	54,4 k €	+363%	11,8 k €	-62.6%	31,5 k €	+470%	5,5 k €	-73.0%	20,5 k €	+19.2%	17,2 k €	+15.9%	14,8 k €
Net result	-98,3 k €	+30.6%	-141,7 k €	-60.3%	-88,4 k €	-132%	-38,1 k €	-18.1%	-32,3 k €	-109%	-15,4 k €	-43.2%	-10,8 k €	-5632%	194,4 €	-99.7%	57 k €	+16991%	-337,6 €	-101%	23 k €	+441%	-6,7 k €	+68.3%	-21,2 k €	-143%	49,4 k €	+183%	17,4 k €	-69.6%	57,2 k €	+363%	12,4 k €	-37.8%	19,9 k €	+12.1%	17,8 k €	+28.4%	13,8 k €
Balance sheet
Equity	60,1 k €	-62.0%	158,4 k €	-47.2%	300,1 k €	-22.7%	388,5 k €	-8.9%	426,6 k €	-7.0%	458,8 k €	-3.2%	474,2 k €	-2.2%	485 k €	+0.0%	484,8 k €	+13.3%	427,8 k €	-0.1%	428,1 k €	+5.7%	405,1 k €	-1.6%	411,8 k €	-4.9%	433,1 k €	+12.9%	383,7 k €	+4.8%	366,2 k €	+18.5%	309 k €	+0.1%	308,6 k €	+1.6%	303,7 k €	+6.2%	286 k €
Total assets	142,6 k €	-32.7%	211,8 k €	-42.3%	367 k €	-23.8%	481,9 k €	+9.6%	439,8 k €	-38.5%	714,8 k €	+0.9%	708,2 k €	-4.1%	738,8 k €	+1.9%	724,9 k €	+7.6%	673,6 k €	+53.0%	440,2 k €	+8.0%	407,5 k €	-21.4%	518,7 k €	+4.6%	495,9 k €	+17.2%	423,3 k €	+3.0%	410,8 k €	+27.8%	321,5 k €	-2.3%	328,9 k €	+3.7%	317,1 k €	+5.0%	301,9 k €
Cash	–		10,6 k €	-61.1%	27,2 k €	-83.9%	169,6 k €	+64.0%	103,4 k €	+5.7%	97,8 k €	+388%	20 k €	-2.3%	20,5 k €	-5.3%	21,6 k €	-27.6%	29,9 k €	+172%	11 k €	+59.6%	6,9 k €	-95.2%	143,4 k €	+176%	52 k €	+23.3%	42,2 k €	+92.2%	21,9 k €	+108%	10,5 k €	-57.8%	25 k €	-46.3%	46,5 k €	+1344%	3,2 k €
Debts	82,4 k €	+54.6%	53,3 k €	-20.3%	66,9 k €	-28.4%	93,4 k €	+626%	12,9 k €	-94.7%	243 k €	+7.9%	225,3 k €	-7.9%	244,6 k €	+5.8%	231,2 k €	-3.5%	239,5 k €	+1888%	12 k €	+398%	2,4 k €	-97.7%	106,8 k €	+77.4%	60,2 k €	+52.1%	39,6 k €	-11.2%	44,6 k €	+257%	12,5 k €	-38.4%	20,3 k €	+51.7%	13,4 k €	-16.0%	15,9 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 8 ended

Active mandates

Eric Van Tilburg

Director

Active

INDICO GROUP

Director · 0842.126.581

Represented by Britt Van Tilburg

Active

Ended mandates

Eric Van Tilburg

Manager · since 20 décembre 2011

Ended

INDICO GROUP

Manager · since 20 décembre 2011 · 0842.126.581

Ended

Anne Van Aelst

Manager

Ended

Cécile Hollants

Director

Ended

At this address

Other companies at this address

Company	CBE no.
Done-it International● Active	0863.363.148
ESCAPE● Active	0461.600.630
Gastro-Kliniek aan de stroom● Active	1027.406.578
INDICO GROUP● Active	0842.126.581

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	31/07/2026	15/07/2025	05/07/2024	13/07/2023	26/08/2022	30/06/2021
General meeting	30/05/2026	31/05/2025	31/05/2024	31/05/2023	31/05/2022	31/05/2021
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	30/05/2026	31/07/2026	Dutch	PDF
Abridged model	31/12/2024	31/05/2025	15/07/2025	Dutch	PDF
Abridged model	31/12/2023	31/05/2024	05/07/2024	Dutch	PDF
Abridged model	31/12/2022	31/05/2023	13/07/2023	Dutch	PDF
Abridged model	31/12/2021	31/05/2022	26/08/2022	Dutch	PDF
Abridged model	31/12/2020	31/05/2021	30/06/2021	Dutch	PDF
Abridged model	31/12/2019	30/05/2020	30/06/2020	Dutch	PDF
Abridged model	31/12/2018	31/05/2019	23/07/2019	Dutch	PDF
Abridged model	31/12/2017	31/05/2018	13/07/2018	Dutch	PDF
Abridged model	31/12/2016	31/05/2017	24/07/2017	Dutch	PDF
Abridged model	31/12/2015	31/05/2016	25/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/05/2015	28/07/2015	Dutch	PDF
Abridged model	31/12/2013	14/08/2014	28/08/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	31/07/2013	Dutch	PDF
Abridged model	31/12/2011	28/06/2012	26/07/2012	Dutch	PDF
Abridged model	31/12/2010	20/06/2011	26/07/2011	Dutch	PDF
Abridged model	31/12/2009	31/05/2010	29/06/2010	Dutch	PDF
Abridged model	31/12/2008	29/05/2009	27/07/2009	Dutch	PDF
Abridged model	31/12/2007	30/05/2008	27/06/2008	Dutch	PDF
Abridged model	31/12/2006	31/05/2007	31/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 · 8 ended

Active mandates

Eric Van Tilburg

Director

Active

INDICO GROUP

Director · 0842.126.581

Represented by Britt Van Tilburg

Active

Ended mandates

Eric Van Tilburg

Manager · since 20 décembre 2011

Ended

INDICO GROUP

Manager · since 20 décembre 2011 · 0842.126.581

Ended

Anne Van Aelst

Manager

Ended

Cécile Hollants

Director

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/07/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/10/2018
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/10/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/02/2012
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/04/2004
ONTSLAGEN - BENOEMINGEN - DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
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 2025-98,3 k €↑
2024
Annual accounts 2024-141,7 k €↓
2023
Annual accounts 2023-88,4 k €↓
2022
Annual accounts 2022-38,1 k €↓
2021
Annual accounts 2021-32,3 k €↓
2020
Annual accounts 2020-15,4 k €↓
2019
Annual accounts 2019-10,8 k €↓
2018
Annual accounts 2018194,4 €↓
2017
Annual accounts 201757 k €↑
2016
Annual accounts 2016-337,6 €↓
2015
Annual accounts 201523 k €↑
2014
Annual accounts 2014-6,7 k €↑
2013
Annual accounts 2013-21,2 k €↓
2012
Annual accounts 201249,4 k €↑
2011
Annual accounts 201117,4 k €↓
2010
Annual accounts 201057,2 k €↑
2009
Annual accounts 200912,4 k €↓
2008
Annual accounts 200819,9 k €↑
2007
Annual accounts 200717,8 k €↑
2006
Annual accounts 200613,8 k €
12/12/1997
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

INDICO

Overview

What does INDICO 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