ACTIVE

IPINCO

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Financial year 2025 · closed on 31/12/2025

Net result

335,2 k €

+10.8% YoY

Gross margin

1,6 M €

-2.8% YoY

Equity

7,4 M €

+4.4% YoY

What does IPINCO do?

IPINCO is a Public limited company incorporated in 1998. Its main activity is: Management consultancy activities. Its registered office is in Tielt.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0464.665.632

Incorporation

25/11/1998

Legal form

Public limited company

Registered office

Szamotulystraat 15
8700 Tielt · FlandreSee on map

Contributed capital

4 000 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities 64910Financial leasing 64910Financial leasing 65210Reinsurance

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	1,6 M €	-2.8%	1,6 M €	+7.7%	1,5 M €	-0.8%	1,5 M €	+10.5%	1,4 M €	+21.5%	1,1 M €	+14.9%	983,4 k €	+10.2%	892,4 k €		–		–		–		–		–		–		–		–		–
EBITDA	1,6 M €	-2.9%	1,6 M €	+7.7%	1,5 M €	-0.9%	1,5 M €	+10.6%	1,4 M €	+58.8%	852,4 k €	-11.9%	967,7 k €	+9.5%	884 k €	-9.8%	979,7 k €	-1.3%	992,6 k €	+2.9%	964,2 k €	+17.7%	819,4 k €	+18.9%	688,9 k €	+3.4%	666,3 k €	-38.0%	1,1 M €	-1.1%	1,1 M €	+4.9%	1 M €
Operating result	449,8 k €	+9.9%	409,2 k €	+30.2%	314,3 k €	-36.3%	493,6 k €	-5.0%	519,4 k €	+198%	174,6 k €	-27.6%	241,1 k €	-11.1%	271,1 k €	-41.1%	460,5 k €	+5.2%	437,5 k €	+4.6%	418,4 k €	+14.2%	366,4 k €	+5.8%	346,2 k €	-17.6%	420,3 k €	+65.1%	254,6 k €	+37.9%	184,6 k €	-6.0%	196,4 k €
Net result	335,2 k €	+10.8%	302,4 k €	+25.9%	240,3 k €	-35.4%	372,1 k €	-5.3%	393,2 k €	+204%	129,5 k €	-3.1%	133,6 k €	-25.3%	178,8 k €	-46.2%	332,1 k €	+6.1%	313 k €	+8.0%	289,8 k €	+4.8%	276,6 k €	-10.5%	309,1 k €	-2.7%	317,6 k €	+58.0%	201 k €	+56.1%	128,8 k €	+16.7%	110,3 k €
Balance sheet
Equity	7,4 M €	+4.4%	7,1 M €	+4.1%	6,8 M €	+3.3%	6,6 M €	+1.6%	6,5 M €	+3.8%	6,3 M €	+1.8%	6,2 M €	+62.8%	3,8 M €	+4.4%	3,6 M €	+9.4%	3,3 M €	+9.7%	3 M €	+9.8%	2,8 M €	+10.3%	2,5 M €	+13.1%	2,2 M €	-1.6%	2,2 M €	+8.8%	2,1 M €	+6.7%	1,9 M €
Total assets	7,6 M €	+3.4%	7,3 M €	+5.6%	7 M €	+0.2%	6,9 M €	+1.1%	6,9 M €	+8.6%	6,3 M €	+1.4%	6,2 M €	+1.3%	6,2 M €	+1.7%	6,1 M €	+61.6%	3,8 M €	-5.9%	4 M €	-5.9%	4,2 M €	+60.1%	2,6 M €	+15.4%	2,3 M €	-0.8%	2,3 M €	-16.3%	2,8 M €	-10.4%	3,1 M €
Cash	1,6 M €	+28.4%	1,2 M €	-1.3%	1,2 M €	+1.4%	1,2 M €	-22.1%	1,6 M €	+52.7%	1 M €	+473%	180,3 k €	-53.5%	387,5 k €	+301%	96,5 k €	+57.5%	61,3 k €	+433%	11,5 k €	-82.4%	65,2 k €	-80.8%	340 k €	+72.5%	197,1 k €	-44.7%	356,5 k €	+80.5%	197,6 k €	+2.6%	192,6 k €
Debts	157,3 k €	-29.7%	223,6 k €	+95.7%	114,3 k €	-64.6%	322,5 k €	-7.4%	348,2 k €	+804%	38,5 k €	-37.0%	61,1 k €	-97.4%	2,4 M €	-2.2%	2,4 M €	+482%	414,9 k €	-55.9%	940,3 k €	-35.6%	1,5 M €	+1052%	126,8 k €	+47.3%	86,1 k €	+22.7%	70,2 k €	-89.7%	681,7 k €	-40.1%	1,1 M €
Other
Workforce	–		–		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

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

Active mandates

Jenny Belaen

Director · since 30 juin 2020 · until 22 juin 2026

Active

IPLAST HOLDING

Managing director · 0442.451.246

Represented by Frédéric Stofferis

Active

Ended mandates

IPLAST HOLDING

Managing director · since 31 mai 2014 · until 30 mai 2020 · 0442.451.246

Represented by TCS Consult BVBA, vertegenwoordigd door Frédéric STOFFERIS

Ended

IPLAST HOLDING

Managing director · since 31 mai 2014 · until 30 juin 2020 · 0442.451.246

Represented by Frédéric Stofferis

Ended

Jenny Belaen

Director · since 31 mai 2014 · until 30 mai 2020

Ended

Jenny Belaen

Director · since 31 mai 2014 · until 30 juin 2020

Ended

At this address

Other companies at this address

Company	CBE no.
Icomco● Active	0863.148.758
Injextru Plastics● Active	0405.190.972

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	01/07/2026	18/07/2025	17/07/2024	12/07/2023	12/07/2022	15/07/2021
General meeting	22/06/2026	30/06/2025	24/06/2024	20/06/2023	22/06/2022	26/06/2021
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	22/06/2026	01/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	18/07/2025	Dutch	PDF
Abridged model	31/12/2023	24/06/2024	17/07/2024	Dutch	PDF
Abridged model	31/12/2022	20/06/2023	12/07/2023	Dutch	PDF
Abridged model	31/12/2021	22/06/2022	12/07/2022	Dutch	PDF
Abridged model	31/12/2020	26/06/2021	15/07/2021	Dutch	PDF
Abridged model	31/12/2019	30/06/2020	23/07/2020	Dutch	PDF
Abridged model	31/12/2018	28/06/2019	24/07/2019	Dutch	PDF
Abridged model	31/12/2017	29/06/2018	20/07/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	24/07/2017	Dutch	PDF
Full model	31/12/2015	29/06/2016	20/07/2016	Dutch	PDF
Full model	31/12/2014	27/06/2015	19/08/2015	Dutch	PDF
Full model	31/12/2013	31/05/2014	30/06/2014	Dutch	PDF
Full model	31/12/2012	08/06/2013	08/07/2013	Dutch	PDF
Full model	31/12/2011	31/05/2012	28/06/2012	Dutch	PDF
Full model	31/12/2010	28/05/2011	05/07/2011	Dutch	PDF
Full model	31/12/2009	19/06/2010	14/07/2010	Dutch	PDF
Full model	31/12/2008	20/06/2009	16/07/2009	Dutch	PDF
Full model	31/12/2007	21/06/2008	17/07/2008	Dutch	PDF
Full model	31/12/2006	26/05/2007	25/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 2 active · 8 ended

Active mandates

Jenny Belaen

Director · since 30 juin 2020 · until 22 juin 2026

Active

IPLAST HOLDING

Managing director · 0442.451.246

Represented by Frédéric Stofferis

Active

Ended mandates

IPLAST HOLDING

Managing director · since 31 mai 2014 · until 30 mai 2020 · 0442.451.246

Represented by TCS Consult BVBA, vertegenwoordigd door Frédéric STOFFERIS

Ended

IPLAST HOLDING

Managing director · since 31 mai 2014 · until 30 juin 2020 · 0442.451.246

Represented by Frédéric Stofferis

Ended

Jenny Belaen

Director · since 31 mai 2014 · until 30 mai 2020

Ended

Jenny Belaen

Director · since 31 mai 2014 · until 30 juin 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates15/09/2026
VASTSTELLING EINDE MANDAAT BESTUURDER - VASTSTELLING ENIGE
PDF
Mandates09/05/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other25/03/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DOEL
PDF
Mandates04/03/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/01/2020
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares16/01/2018
KAPITAAL - AANDELEN
PDF
Mandates17/10/2017
ONTSLAGEN - BENOEMINGEN
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 2025335,2 k €↑
2024
Annual accounts 2024302,4 k €↑
2023
Annual accounts 2023240,3 k €↓
2022
Annual accounts 2022372,1 k €↓
2021
Annual accounts 2021393,2 k €↑
2018
Annual accounts 2018129,5 k €↓
2017
Annual accounts 2017133,6 k €↓
2016
Annual accounts 2016178,8 k €↓
2015
Annual accounts 2015332,1 k €↑
2014
Annual accounts 2014313 k €↑
2013
Annual accounts 2013289,8 k €↑
2012
Annual accounts 2012276,6 k €↓
2011
Annual accounts 2011309,1 k €↓
2010
Annual accounts 2010317,6 k €↑
2009
Annual accounts 2009201 k €↑
2008
Annual accounts 2008128,8 k €↑
2007
Annual accounts 2007110,3 k €
25/11/1998
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

IPINCO

Overview

What does IPINCO do?

Trend over 17 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