ICARUS GROUP
0508.780.539 · rovalta.com · 22/09/2026
ACTIVE
ICARUS GROUP
Financial year 2025 · closed on 31/12/2025
Net result
-525,8 k €
+18.8% YoY
Revenue
1,1 M €
-3.5% YoY
Equity
11,3 M €
-4.4% YoY
Workforce
5,8 ETP
-4.9% YoY
Overview
What does ICARUS GROUP do?
ICARUS GROUP is a Public limited company incorporated in 2012. Its main activity is: Activities of head offices. Its registered office is in Herstal. It employs on average 5,8 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0508.780.539
Incorporation
28/12/2012
Legal form
Public limited company
Registered office
Rue des Alouettes 100
4041 Herstal · WallonieSee on map
4041 Herstal · WallonieSee on map
Contributed capital
15 400 000,00 €
Latest accounts
31/12/2025
Average workforce
5,8 ETP
Activities (NACE)
Joint committees (2)
- 200
- 218
Signals
Solid equityHealthy social debtsHigh revenue
Available with a Rovalta subscriptionTry for 7 days
Financials
Trend over 13 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||
| Revenue | 1,1 M € | -3.5% | 1,2 M € | -8.3% | 1,3 M € | -6.7% | 1,3 M € | +3.3% | 1,3 M € | -8.4% | 1,4 M € | +7.6% | 1,3 M € | -25.8% | 1,8 M € | -5.9% | 1,9 M € | +1.3% | 1,9 M € | -3.4% | 1,9 M € | -7.2% | 2,1 M € | -20.1% | 2,6 M € |
| EBITDA | -239,5 k € | -8.9% | -220 k € | -116% | -102,1 k € | -163% | 163,2 k € | +118% | 75 k € | -65.7% | 218,5 k € | +488% | 37,1 k € | -27.2% | 51 k € | -59.6% | 126,1 k € | -16.0% | 150,2 k € | -8.4% | 164 k € | +1.9% | 161 k € | -77.3% | 708,2 k € |
| Operating result | -248,1 k € | -8.5% | -228,7 k € | -122% | -102,8 k € | -163% | 163,2 k € | +118% | 74,9 k € | -65.7% | 218,2 k € | +517% | -52,4 k € | -231% | 39,9 k € | -64.6% | 112,9 k € | -21.4% | 143,8 k € | -7.8% | 155,9 k € | +5.8% | 147,3 k € | -78.9% | 696,6 k € |
| Net result | -525,8 k € | +18.8% | -647,5 k € | +55.3% | -1,4 M € | -792% | -162,3 k € | -41.2% | -115 k € | -640% | 21,3 k € | +105% | -472,5 k € | +68.8% | -1,5 M € | -535% | -238,8 k € | -12.7% | -211,8 k € | +2.3% | -216,7 k € | -134% | 645,7 k € | -22.0% | 828,2 k € |
| Balance sheet | |||||||||||||||||||||||||
| Equity | 11,3 M € | -4.4% | 11,9 M € | -5.2% | 12,5 M € | -10.4% | 14 M € | -1.1% | 14,1 M € | -0.8% | 14,2 M € | +0.1% | 14,2 M € | -3.2% | 14,7 M € | +24.4% | 11,8 M € | +6.9% | 11 M € | -1.9% | 11,3 M € | -1.9% | 11,5 M € | +6.0% | 10,8 M € |
| Total assets | 23,5 M € | -0.8% | 23,7 M € | +0.8% | 23,5 M € | +1.3% | 23,2 M € | -3.9% | 24,2 M € | -0.9% | 24,4 M € | +1.7% | 24 M € | -0.4% | 24,1 M € | +10.6% | 21,8 M € | +0.6% | 21,6 M € | +3.5% | 20,9 M € | +1.0% | 20,7 M € | -8.1% | 22,5 M € |
| Cash | 1 k € | +71.3% | 593,8 € | -90.0% | 5,9 k € | +500% | 988,8 € | -96.3% | 26,7 k € | +1148% | 2,1 k € | +39.1% | 1,5 k € | -73.8% | 5,9 k € | +332% | 1,4 k € | +25.3% | 1,1 k € | -51.1% | 2,2 k € | -79.7% | 10,9 k € | -30.8% | 15,8 k € |
| Debts | 12,2 M € | +2.8% | 11,8 M € | +7.6% | 11 M € | +18.8% | 9,3 M € | -7.7% | 10 M € | -0.9% | 10,1 M € | +3.8% | 9,7 M € | +4.0% | 9,4 M € | -5.3% | 9,9 M € | -6.5% | 10,6 M € | +10.4% | 9,6 M € | +4.7% | 9,2 M € | -21.0% | 11,6 M € |
| Other | |||||||||||||||||||||||||
| Workforce | 5,8 ETP | -4.9% | 6,1 ETP | -10.3% | 6,8 ETP | 0.0% | 6,8 ETP | -5.6% | 7,2 ETP | -7.7% | 7,8 ETP | +2.6% | 7,6 ETP | -13.6% | 8,8 ETP | -17.8% | 10,7 ETP | -6.1% | 11,4 ETP | -5.8% | 12,1 ETP | -4.7% | 12,7 ETP | +12.4% | 11,3 ETP |
Estimate
Indicative valuation
As an indication, this company is worth
between 10 M€ and 25 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 5 active · 18 ended
At this address
Other companies at this address
| Company | CBE no. |
|---|---|
| 0540.824.785 | |
ICARUS● Active | 0427.223.434 |
| 1031.277.868 | |
TECHNORAMA INVEST● Active | 0480.255.908 |
THISE● Active | 0419.692.373 |
UNITE TVA ICARUS UNIT● Active | 0562.909.509 |
Financials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Full model | Full model | Full model | Full model | Full model | Consolidated accounts |
| 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 | 20/05/2026 | 16/07/2025 | 31/07/2024 | 25/07/2023 | 20/07/2022 | 28/12/2021 |
| General meeting | 19/05/2026 | 16/07/2025 | 31/07/2024 | 24/07/2023 | 15/07/2022 | 01/01/9999 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
25 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Full model | 31/12/2025 | 19/05/2026 | 20/05/2026 | French | |
| Full model | 31/12/2024 | 16/07/2025 | 16/07/2025 | French | |
| Full model | 31/12/2023 | 31/07/2024 | 31/07/2024 | French | |
| Consolidated accounts | 31/12/2023 | 16/07/2025 | 18/07/2025 | French | |
| Full model | 31/12/2022 | 24/07/2023 | 25/07/2023 | French | |
| Consolidated accounts | 31/12/2022 | 20/11/2023 | 24/11/2023 | French | |
| Full model | 31/12/2021 | 15/07/2022 | 20/07/2022 | French | |
| Consolidated accounts | 31/12/2021 | 10/10/2022 | 14/10/2022 | French | |
| Full model | 31/12/2020 | 19/04/2021 | 23/04/2021 | French | |
| Consolidated accounts | 31/12/2020 | 01/01/9999 | 28/12/2021 | French | |
| Full model | 31/12/2019 | 07/10/2020 | 08/10/2020 | French | |
| Consolidated accounts | 31/12/2019 | 02/12/2020 | 04/12/2020 | French | |
| Full model | 31/12/2018 | 26/06/2019 | 02/07/2019 | French | |
| Consolidated accounts | 31/12/2018 | 03/09/2019 | 05/09/2019 | French | |
| Full model | 31/12/2017 | 31/07/2018 | 01/08/2018 | French | |
| Consolidated accounts | 31/12/2017 | 27/09/2018 | 28/09/2018 | French | |
| Full model | 31/12/2016 | 31/07/2017 | 01/08/2017 | French | |
| Consolidated accounts | 31/12/2016 | 21/08/2017 | 04/09/2017 | French | |
| Full model | 31/12/2015 | 30/06/2016 | 05/07/2016 | French | |
| Consolidated accounts | 31/12/2015 | 30/06/2016 | 08/07/2016 | French | |
| Full model | 31/12/2014 | 18/05/2015 | 29/05/2015 | French | |
| Consolidated accounts | 31/12/2014 | 18/05/2015 | 27/05/2015 | French | |
| Full modelCorrection | 31/12/2013 | 19/05/2014 | 19/06/2014 | French | |
| Full model | 31/12/2013 | 19/05/2014 | 10/06/2014 | French |
Valuation
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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 5 active · 18 ended
Shareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Mandates27/08/2026Extrait PV AGE 28/11/2025 - Renouvellement du mandat du Commissaire +
- Mandates04/12/2025DEMISSIONS, NOMINATIONS
- Mandates23/09/2025DEMISSIONS, NOMINATIONS
- Mandates29/04/2025DEMISSIONS, NOMINATIONS
- Mandates03/06/2024DEMISSIONS, NOMINATIONS
- Mandates10/01/2024STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
- Mandates08/11/2022DEMISSIONS, NOMINATIONS
- Mandates16/02/2021DEMISSIONS, NOMINATIONS
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025-525,8 k €↑
- 2024Annual accounts 2024-647,5 k €↑
- 2023Annual accounts 2023-1,4 M €↓
- 2022Annual accounts 2022-162,3 k €↓
- 2021Annual accounts 2021-115 k €↓
- 2020Annual accounts 202021,3 k €↑
- 2019Annual accounts 2019-472,5 k €↑
- 2018Annual accounts 2018-1,5 M €↓
- 2017Annual accounts 2017-238,8 k €↓
- 2016Annual accounts 2016-211,8 k €↑
- 2015Annual accounts 2015-216,7 k €↓
- 2014Annual accounts 2014645,7 k €↓
- 2013Annual accounts 2013828,2 k €
- 28/12/2012IncorporationPublic limited company