ACTIVE

ICE WAY

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Financial year 2025 · closed on 31/12/2025
Net result
182,8 k €
+785.5% YoY
Gross margin
2,4 M €
+8.0% YoY
Equity
1,5 M €
+13.9% YoY
Workforce
28,4 ETP
-6.3% YoY

What does ICE WAY do?

ICE WAY is a Private limited company incorporated in 2013. Its main activity is: Freight transport by road. Its registered office is in Bruxelles. It employs on average 28,4 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0502.855.126
Incorporation
29/01/2013
Legal form
Private limited company
Registered office
Rond-point Robert Schuman 11
1040 Bruxelles · BruxellesSee on map
Contributed capital
18 600,00 €
Latest accounts
31/12/2025
Average workforce
28,4 ETP
Activities (NACE)
49410Freight transport by road· main49410Freight transport by road52100Warehousing and storage52100Warehousing and storage
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 13 financial years

2025202420232022202120202019201820172016201520142013
Income statement
Gross margin2,4 M €2,2 M €2 M €1,8 M €1,5 M €1,4 M €1,6 M €1,4 M €1,3 M €1,2 M €875,2 k €538 k €296,3 k €
EBITDA762,1 k €561,5 k €491,7 k €507,3 k €452 k €438,9 k €540,5 k €380 k €408,1 k €383,6 k €270,7 k €206 k €138,3 k €
Operating result315,7 k €85,3 k €90,5 k €194 k €171,3 k €229,3 k €341,3 k €202,2 k €199,3 k €219,8 k €177,6 k €149,2 k €90,4 k €
Net result182,8 k €20,6 k €16,1 k €114,1 k €124,9 k €185,9 k €228,7 k €126,3 k €113,4 k €129,5 k €95,5 k €80,6 k €58,7 k €
Balance sheet
Equity1,5 M €1,3 M €1,3 M €1,3 M €1,2 M €1 M €845 k €616,4 k €490,1 k €376,7 k €247,1 k €151,6 k €71,1 k €
Total assets2,8 M €3 M €2,9 M €2,7 M €2,2 M €1,9 M €1,5 M €1,2 M €1,2 M €989,5 k €715,2 k €448,6 k €272,9 k €
Cash942,7 k €704,9 k €712,5 k €587,5 k €286,3 k €486,3 k €492,7 k €195,1 k €162,2 k €70,8 k €60 k €30,4 k €19,7 k €
Debts1,3 M €1,7 M €1,7 M €1,4 M €1 M €902,8 k €615,9 k €539,9 k €747,9 k €612,8 k €435,4 k €272,6 k €198,2 k €
Other
Workforce28,4 ETP30,3 ETP26,4 ETP24,9 ETP22,8 ETP21,6 ETP21,6 ETP20,7 ETP21,0 ETP18,4 ETP14,5 ETP8,5 ETP3,7 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 3 ended

Active mandates

Volkan Sahin

Director · since 29 janvier 2013

Active
Deborah Patte

Director

Active

Ended mandates

Volkan Sahin

Manager · since 29 janvier 2013

Ended
Volkan Sahin

Director

Ended
Volkan Sahin

Manager

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged 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 date31/08/202618/08/202520/09/202430/08/202331/08/202231/08/2021
General meeting04/06/202605/06/202503/06/202401/06/202302/06/202203/06/2021
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

13 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202504/06/202631/08/2026FrenchPDF
Abridged model31/12/202405/06/202518/08/2025FrenchPDF
Abridged model31/12/202303/06/202420/09/2024FrenchPDF
Abridged model31/12/202201/06/202330/08/2023FrenchPDF
Abridged model31/12/202102/06/202231/08/2022FrenchPDF
Abridged model31/12/202003/06/202131/08/2021FrenchPDF
Abridged model31/12/201904/06/202029/07/2020FrenchPDF
Abridged model31/12/201806/06/201923/08/2019FrenchPDF
Abridged model31/12/201707/06/201831/08/2018FrenchPDF
Abridged model31/12/201601/06/201729/08/2017FrenchPDF
Abridged model31/12/201502/06/201612/08/2016FrenchPDF
Abridged model31/12/201404/06/201528/07/2015FrenchPDF
Abridged model31/12/201305/06/201428/08/2014FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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 · 3 ended

Active mandates

Volkan Sahin

Director · since 29 janvier 2013

Active
Deborah Patte

Director

Active

Ended mandates

Volkan Sahin

Manager · since 29 janvier 2013

Ended
Volkan Sahin

Director

Ended
Volkan Sahin

Manager

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates14/12/2023
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates23/03/2020
    DEMISSIONS, NOMINATIONS - MODIFICATION FORME JURIDIQUE
    PDF
  • Registered office16/10/2018
    SIEGE SOCIAL
    PDF
  • Other08/02/2013
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    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 2025182,8 k €↑
  2. 2024
    Annual accounts 202420,6 k €↑
  3. 2023
    Annual accounts 202316,1 k €↓
  4. 2022
    Annual accounts 2022114,1 k €↓
  5. 2021
    Annual accounts 2021124,9 k €↓
  6. 2020
    Annual accounts 2020185,9 k €↓
  7. 2019
    Annual accounts 2019228,7 k €↑
  8. 2018
    Annual accounts 2018126,3 k €↑
  9. 2017
    Annual accounts 2017113,4 k €↓
  10. 2016
    Annual accounts 2016129,5 k €↑
  11. 2015
    Annual accounts 201595,5 k €↑
  12. 2014
    Annual accounts 201480,6 k €↑
  13. 2013
    Annual accounts 201358,7 k €
  14. 29/01/2013
    IncorporationPrivate limited company