ACTIVE

IPNG

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Financial year 2025 · closed on 31/12/2025

Net result

64,2 k €

+607.3% YoY

Gross margin

100,5 k €

+176.1% YoY

Equity

343,2 k €

+23.0% YoY

Workforce

0,0 ETP

What does IPNG do?

IPNG is a Public limited company incorporated in 2000. Its main activity is: Buying and selling of own real estate. Its registered office is in Sint-Martens-Latem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0472.224.506

Incorporation

28/06/2000

Legal form

Public limited company

Registered office

Gillebulk 6
9830 Sint-Martens-Latem · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

68100Buying and selling of own real estate· main 68110Buying and selling of own real estate 70120Activities of head offices 43120Site preparation 43120Site preparation 45112Sale of cars and light motor vehicles

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	100,5 k €	+176%	36,4 k €	+71.4%	21,2 k €	-71.2%	73,7 k €	+251%	21 k €	+203%	-20,4 k €	-210%	18,6 k €	-81.1%	98,4 k €	+1.8%	96,7 k €	+255%	27,3 k €	+136%	-76,7 k €	-273%	44,2 k €	+17.9%	37,5 k €	-34.3%	57,1 k €	+19.2%	47,9 k €	-18.0%	58,4 k €	+64.1%	35,6 k €	-33.7%	53,7 k €	+185%	18,8 k €	-68.4%	59,6 k €
EBITDA	98,4 k €	+185%	34,5 k €	+77.8%	19,4 k €	-73.3%	72,6 k €	+256%	20,4 k €	+197%	-21 k €	-223%	17,1 k €	-82.3%	96,9 k €	+2.6%	94,5 k €	+274%	25,3 k €	+133%	-77,6 k €	-288%	41,2 k €	+15.3%	35,7 k €	-33.7%	53,8 k €	+20.6%	44,7 k €	-15.6%	52,9 k €	+55.1%	34,1 k €	-34.4%	52 k €	+180%	18,6 k €	-68.7%	59,3 k €
Operating result	98,4 k €	+185%	34,5 k €	+77.8%	19,4 k €	-73.1%	72,2 k €	+262%	20 k €	+193%	-21,5 k €	-240%	15,3 k €	-83.9%	95,1 k €	+2.2%	93,1 k €	+290%	23,9 k €	+130%	-79,5 k €	-296%	40,7 k €	+16.1%	35 k €	-34.1%	53,2 k €	+20.9%	44 k €	-16.2%	52,5 k €	+79.5%	29,2 k €	-37.9%	47,1 k €	+244%	13,7 k €	-74.8%	54,5 k €
Net result	64,2 k €	+607%	9,1 k €	-31.7%	13,3 k €	-70.7%	45,3 k €	+167%	17 k €	+177%	-22,1 k €	-315%	10,3 k €	-84.2%	65,4 k €	-20.3%	82 k €	+384%	16,9 k €	+120%	-84,4 k €	-657%	15,2 k €	-20.7%	19,1 k €	-19.6%	23,8 k €	+12.1%	21,2 k €	-23.0%	27,5 k €	+148%	11,1 k €	-8.1%	12,1 k €	+100.0%	6 k €	-73.7%	22,9 k €
Balance sheet
Equity	343,2 k €	+23.0%	279 k €	+3.4%	270 k €	+5.2%	256,7 k €	+21.4%	211,4 k €	+8.7%	194,4 k €	-10.2%	216,5 k €	-32.8%	322,3 k €	+25.4%	256,9 k €	+46.9%	174,9 k €	+10.7%	158 k €	-34.8%	242,4 k €	+6.7%	227,2 k €	+2.8%	221 k €	+12.1%	197,2 k €	+12.0%	176 k €	+18.5%	148,5 k €	+8.1%	137,4 k €	+9.6%	125,4 k €	+5.0%	119,4 k €
Total assets	469,1 k €	-39.0%	769,5 k €	+39.6%	551,2 k €	+31.6%	418,8 k €	+0.7%	415,8 k €	+100%	207,5 k €	-6.6%	222,1 k €	-33.3%	332,8 k €	-32.2%	490,9 k €	+38.2%	355,3 k €	-34.5%	542,4 k €	+37.0%	396,1 k €	-71.8%	1,4 M €	+133%	602,2 k €	-29.2%	850,9 k €	+40.1%	607,3 k €	+55.1%	391,6 k €	+10.9%	353,1 k €	-40.2%	590,4 k €	+69.2%	348,9 k €
Cash	120,6 k €	+396%	24,3 k €	-71.0%	83,8 k €	+492%	14,2 k €	-92.6%	190,8 k €	+3.0%	185,4 k €	-14.9%	217,7 k €	+109%	104,3 k €	+28.3%	81,3 k €	+78.1%	45,6 k €	+580%	6,7 k €	-97.0%	226,7 k €	+9.9%	206,2 k €	-15.0%	242,5 k €	+514%	39,5 k €	-65.4%	114,1 k €	+1372%	7,8 k €	+18.3%	6,6 k €	+21.1%	5,4 k €	-8.5%	5,9 k €
Debts	120,7 k €	-75.4%	490,4 k €	+74.7%	280,7 k €	+121%	127,1 k €	-37.7%	204 k €	+1470%	13 k €	+133%	5,6 k €	-46.5%	10,5 k €	-95.5%	234 k €	+30.1%	179,9 k €	-53.2%	384,3 k €	+151%	153,3 k €	-86.9%	1,2 M €	+206%	381,2 k €	-41.5%	651,4 k €	+51.8%	429,1 k €	+77.5%	241,8 k €	+12.6%	214,6 k €	-53.0%	456,5 k €	+99.7%	228,6 k €
Other
Workforce	0,0 ETP		0,0 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 · 2 active · 10 ended

Active mandates

Patrick Naudts

Director · since 18 septembre 2023 · until 14 mai 2029

Active

Yannick Naudts

Director · since 18 septembre 2023 · until 14 mai 2029

Active

Ended mandates

Patrick Naudts

Director · since 08 mai 2018 · until 08 mai 2024

Ended

Patrick NAUDTS

Managing director · since 08 mai 2018 · until 08 mai 2024

Ended

Yannick NAUDTS

Director · since 08 mai 2018 · until 08 mai 2024

Ended

Patrick NAUDTS

Managing director · since 09 décembre 2012 · until 09 décembre 2018

Ended

At this address

Other companies at this address

Company	CBE no.
BELEX BELGIUM● Active	0446.973.426

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Micro model	Micro 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	24/06/2026	06/06/2025	03/06/2024	20/06/2023	15/07/2022	14/06/2021
General meeting	10/06/2026	13/05/2025	14/05/2024	09/05/2023	10/05/2022	11/05/2021
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	10/06/2026	24/06/2026	Dutch	PDF
Abridged model	31/12/2024	13/05/2025	06/06/2025	Dutch	PDF
Micro model	31/12/2023	14/05/2024	03/06/2024	Dutch	PDF
Micro model	31/12/2022	09/05/2023	20/06/2023	Dutch	PDF
Micro model	31/12/2021	10/05/2022	15/07/2022	Dutch	PDF
Micro model	31/12/2020	11/05/2021	14/06/2021	Dutch	PDF
Micro model	31/12/2019	12/05/2020	15/06/2020	Dutch	PDF
Micro model	31/12/2018	14/05/2019	02/07/2019	Dutch	PDF
Micro model	31/12/2017	08/05/2018	29/05/2018	Dutch	PDF
Micro model	31/12/2016	09/05/2017	23/05/2017	Dutch	PDF
Abridged model	31/12/2015	10/05/2016	27/06/2016	Dutch	PDF
Abridged model	31/12/2014	12/05/2015	08/06/2015	Dutch	PDF
Abridged model	31/12/2013	13/05/2014	16/06/2014	Dutch	PDF
Abridged model	31/12/2012	14/05/2013	13/06/2013	Dutch	PDF
Abridged model	31/12/2011	08/05/2012	06/06/2012	Dutch	PDF
Abridged model	31/12/2010	10/05/2011	23/06/2011	Dutch	PDF
Abridged model	31/12/2009	11/05/2010	09/06/2010	Dutch	PDF
Abridged model	31/12/2008	12/05/2009	29/05/2009	Dutch	PDF
Abridged model	31/12/2007	13/05/2008	11/06/2008	Dutch	PDF
Abridged model	31/12/2006	08/05/2007	31/05/2007	Dutch	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 · 2 active · 10 ended

Active mandates

Patrick Naudts

Director · since 18 septembre 2023 · until 14 mai 2029

Active

Yannick Naudts

Director · since 18 septembre 2023 · until 14 mai 2029

Active

Ended mandates

Patrick Naudts

Director · since 08 mai 2018 · until 08 mai 2024

Ended

Patrick NAUDTS

Managing director · since 08 mai 2018 · until 08 mai 2024

Ended

Yannick NAUDTS

Director · since 08 mai 2018 · until 08 mai 2024

Ended

Patrick NAUDTS

Managing director · since 09 décembre 2012 · until 09 décembre 2018

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office04/12/2024
MAATSCHAPPELIJKE ZETEL
PDF
Other21/09/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN
PDF
Capital / shares18/06/2019
KAPITAAL - AANDELEN
PDF
Mandates30/10/2018
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares16/12/2013
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates13/11/2012
ONTSLAGEN - BENOEMINGEN
PDF
Registered office29/12/2010
MAATSCHAPPELIJKE ZETEL
PDF
Mandates16/06/2010
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 202564,2 k €↑
2024
Annual accounts 20249,1 k €↓
2023
Annual accounts 202313,3 k €↓
2022
Annual accounts 202245,3 k €↑
2021
Annual accounts 202117 k €↑
2020
Annual accounts 2020-22,1 k €↓
2019
Annual accounts 201910,3 k €↓
2018
Annual accounts 201865,4 k €↓
2017
Annual accounts 201782 k €↑
2016
Annual accounts 201616,9 k €↑
2015
Annual accounts 2015-84,4 k €↓
2014
Annual accounts 201415,2 k €↓
2013
Annual accounts 201319,1 k €↓
2012
Annual accounts 201223,8 k €↑
2011
Annual accounts 201121,2 k €↓
2010
Annual accounts 201027,5 k €↑
2009
Annual accounts 200911,1 k €↓
2008
Annual accounts 200812,1 k €↑
2007
Annual accounts 20076 k €↓
2006
Annual accounts 200622,9 k €
28/06/2000
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

IPNG

Overview

What does IPNG 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