ACTIVE

IP Trade

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Financial year 2025 · closed on 31/03/2025

Net result

2,2 M €

-4.7% YoY

Revenue

5,5 M €

-9.0% YoY

Equity

12,3 M €

-56.3% YoY

Workforce

22,9 ETP

0.0% YoY

What does IP Trade do?

IP Trade is a Public limited company incorporated in 2000. Its main activity is: Manufacture of communication equipment. Its registered office is in Liège. It employs on average 22,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0473.113.837

Incorporation

24/10/2000

Legal form

Public limited company

Registered office

Rue des Guillemins 129
4000 Liège · WallonieSee on map

Contributed capital

4 382 278,00 €

Latest accounts

31/03/2025

Average workforce

22,9 ETP

Activities (NACE)

26300Manufacture of communication equipment· main 26300Manufacture of communication equipment 62010Computer programming activities 62100Computer programming, consultancy and related activities 72220Research and experimental development on social sciences and humanities

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2019		2018		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	5,5 M €	-9.0%	6,1 M €	-33.7%	9,2 M €	-50.4%	18,5 M €	+90.9%	9,7 M €	-20.7%	12,2 M €	+52.6%	8 M €	-2.9%	8,3 M €	+120%	3,8 M €	+29.8%	2,9 M €	-27.9%	4 M €	+18.9%	3,4 M €	+50.0%	2,3 M €	+37.7%	1,6 M €	-33.3%	2,5 M €	+31.3%	1,9 M €	+93.3%	966,1 k €		–
EBITDA	2,8 M €	-21.0%	3,5 M €	-37.0%	5,6 M €	-58.1%	13,3 M €	+98.5%	6,7 M €	+47.9%	4,5 M €	+460%	-1,3 M €	-223%	1 M €	+102%	505,3 k €	+357%	-196,5 k €	-151%	386,9 k €	-27.3%	531,9 k €	+186%	-620,8 k €	+51.2%	-1,3 M €	+4.8%	-1,3 M €	+38.3%	-2,2 M €	+14.0%	-2,5 M €	-279%	-663,1 k €
Operating result	982,2 k €	-28.6%	1,4 M €	-59.0%	3,4 M €	-68.7%	10,7 M €	+168%	4 M €	+39.3%	2,9 M €	+231%	-2,2 M €	-353%	866,3 k €	+110%	411,6 k €	+177%	-534,7 k €	-354%	210,5 k €	+17.2%	179,6 k €	+120%	-914,3 k €	+46.6%	-1,7 M €	+17.0%	-2,1 M €	+27.7%	-2,9 M €	+7.8%	-3,1 M €	-177%	-1,1 M €
Net result	2,2 M €	-4.7%	2,3 M €	-35.3%	3,6 M €	-65.7%	10,4 M €	+159%	4 M €	+106%	1,9 M €	+153%	-3,7 M €	-470%	996,2 k €	+328%	232,7 k €	+98.6%	117,2 k €	-76.1%	489,9 k €	+947%	46,8 k €	-98.4%	3 M €	+211%	-2,7 M €	-13.3%	-2,4 M €	+20.1%	-3 M €	+11.5%	-3,4 M €	-244%	-982,3 k €
Balance sheet
Equity	12,3 M €	-56.3%	28,1 M €	+8.9%	25,8 M €	+16.0%	22,2 M €	+87.4%	11,9 M €	+128%	5,2 M €	+115%	2,4 M €	-60.2%	6,1 M €	+59.3%	3,8 M €	+23.7%	3,1 M €	+36.0%	2,3 M €	+500%	377,7 k €	+211%	121,5 k €	+102%	-6,8 M €	-70.4%	-4 M €	-4.3%	-3,8 M €	-318%	-916,3 k €	-571%	-136,5 k €
Total assets	14,9 M €	-51.0%	30,3 M €	+6.2%	28,6 M €	+13.3%	25,2 M €	+80.4%	14 M €	-26.1%	18,9 M €	+18.5%	15,9 M €	+30.9%	12,2 M €	+42.9%	8,5 M €	+27.5%	6,7 M €	+40.4%	4,8 M €	+26.6%	3,8 M €	+13.0%	3,3 M €	+24.9%	2,7 M €	-34.7%	4,1 M €	-5.5%	4,3 M €	-7.9%	4,7 M €	+97.1%	2,4 M €
Cash	250,9 k €	-48.0%	482,9 k €	+31.3%	367,9 k €	+147%	149 k €	+11.0%	134,2 k €	-93.4%	2 M €	+129%	880,1 k €	+272%	236,6 k €	+114%	110,5 k €	-9.4%	121,9 k €	-62.4%	324,4 k €	+263%	89,4 k €	-81.4%	481,4 k €	+21820%	2,2 k €	-95.4%	47,7 k €	+37.6%	34,7 k €	-89.7%	336,7 k €	+93.5%	174 k €
Debts	1,2 M €	+42.5%	831,8 k €	-28.5%	1,2 M €	-11.2%	1,3 M €	+84.9%	708,4 k €	-94.1%	11,9 M €	+2.4%	11,6 M €	+150%	4,7 M €	+12.8%	4,1 M €	+36.4%	3 M €	+46.7%	2,1 M €	-29.6%	2,9 M €	+7.2%	2,7 M €	-67.2%	8,3 M €	+11.3%	7,5 M €	-3.6%	7,7 M €	+43.1%	5,4 M €	+117%	2,5 M €
Other
Workforce	22,9 ETP	0.0%	22,9 ETP	-19.6%	28,5 ETP	-23.4%	37,2 ETP	-5.3%	39,3 ETP	+5.6%	37,2 ETP	+5.1%	35,4 ETP	+48.7%	23,8 ETP	+0.4%	23,7 ETP	+1.7%	23,3 ETP	+17.1%	19,9 ETP	+13.7%	17,5 ETP	+41.1%	12,4 ETP	-10.8%	13,9 ETP	-7.3%	15,0 ETP	-16.7%	18,0 ETP	+30.4%	13,8 ETP	+91.7%	7,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/03/2025 · 3 active · 54 ended

Active mandates

Geert Eylenbosch

Director · since 27 juin 2023 · until 12 septembre 2028

Active

Laura Galvin

Director · since 27 juin 2023 · until 12 septembre 2028

Active

Rodrigo Benito Alonso

Director · since 27 juin 2023 · until 12 septembre 2028

Active

Ended mandates

Colin BANNON

Director · since 29 avril 2019 · until 27 juin 2023

Ended

Colin BANNON

Director · since 29 avril 2019 · until 09 septembre 2025

Ended

David Payne

Director · since 28 avril 2017

Ended

David PAYNE

Director · since 28 avril 2017 · until 29 avril 2019

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020	01/04/2019
Closing of the financial year	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021	31/03/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	29/09/2025	30/09/2024	26/09/2023	27/09/2022	29/09/2021	29/10/2020
General meeting	26/09/2025	23/09/2024	25/09/2023	27/09/2022	27/09/2021	30/09/2020
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
Full model	31/03/2025	26/09/2025	29/09/2025	French	PDF
Full model	31/03/2024	23/09/2024	30/09/2024	French	PDF
Full model	31/03/2023	25/09/2023	26/09/2023	French	PDF
Full model	31/03/2022	27/09/2022	27/09/2022	French	PDF
Full model	31/03/2021	27/09/2021	29/09/2021	French	PDF
Full model	31/03/2020	30/09/2020	29/10/2020	French	PDF
Full model	31/03/2019	19/09/2019	30/10/2019	French	PDF
Full model	31/03/2018	11/09/2018	28/09/2018	French	PDF
Abridged model	31/12/2016	26/06/2017	29/06/2017	French	PDF
Abridged model	31/12/2015	23/05/2016	31/05/2016	French	PDF
Abridged model	31/12/2014	26/05/2015	01/06/2015	French	PDF
Abridged modelCorrection	31/12/2013	12/05/2014	29/09/2014	French	PDF
Abridged model	31/12/2013	12/05/2014	26/06/2014	French	PDF
Abridged model	31/12/2012	13/05/2013	16/05/2013	French	PDF
Abridged model	31/12/2011	14/05/2012	25/06/2012	French	PDF
Abridged model	31/12/2010	30/05/2011	30/06/2011	French	PDF
Abridged model	31/12/2009	22/06/2010	15/07/2010	French	PDF
Abridged model	31/12/2008	02/06/2009	05/06/2009	French	PDF
Abridged model	31/12/2007	03/06/2008	27/06/2008	French	PDF
Abridged model	31/12/2006	14/05/2007	13/06/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 31/03/2025 · 3 active · 54 ended

Active mandates

Geert Eylenbosch

Director · since 27 juin 2023 · until 12 septembre 2028

Active

Laura Galvin

Director · since 27 juin 2023 · until 12 septembre 2028

Active

Rodrigo Benito Alonso

Director · since 27 juin 2023 · until 12 septembre 2028

Active

Ended mandates

Colin BANNON

Director · since 29 avril 2019 · until 27 juin 2023

Ended

Colin BANNON

Director · since 29 avril 2019 · until 09 septembre 2025

Ended

David Payne

Director · since 28 avril 2017

Ended

David PAYNE

Director · since 28 avril 2017 · until 29 avril 2019

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates18/11/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates10/10/2024
DEMISSIONS, NOMINATIONS
PDF
Registered office10/10/2024
SIEGE SOCIAL
PDF
Mandates06/11/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates08/12/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates28/07/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates03/06/2019
DEMISSIONS, NOMINATIONS
PDF
Capital / shares01/04/2019
CAPITAL, ACTIONS
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 20252,2 M €↓
2024
Annual accounts 20242,3 M €↓
2023
Annual accounts 20233,6 M €↓
2022
Annual accounts 202210,4 M €↑
2021
Annual accounts 20214 M €↑
2019
Annual accounts 20191,9 M €↑
2018
Annual accounts 2018-3,7 M €↓
2016
Annual accounts 2016996,2 k €↑
2015
Annual accounts 2015232,7 k €↑
2014
Annual accounts 2014117,2 k €↓
2013
Annual accounts 2013489,9 k €↑
2012
Annual accounts 201246,8 k €↓
2011
Annual accounts 20113 M €↑
2010
Annual accounts 2010-2,7 M €↓
2009
Annual accounts 2009-2,4 M €↑
2008
Annual accounts 2008-3 M €↑
2007
Annual accounts 2007-3,4 M €↓
2006
Annual accounts 2006-982,3 k €
24/10/2000
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

IP Trade

Overview

What does IP Trade do?

Trend over 18 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