ACTIVE

IEM Power Systems

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Financial year 2025 · Closed on 31/12/2025

Net result-236 k €-118,2 %over 1 year

Gross margin1,6 M €-49,3 %over 1 year

Equity1,3 M €-17,7 %over 1 year

Workforce13,3 ETP-0,7 %over 1 year

Identity

Source · BCE/KBO

IEM Power Systems is a Public limited company incorporated in 2014. Its main activity is: Manufacture of other electrical equipment. Its registered office is in Herve. It employs on average 13,3 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0544.995.092
Incorporation: 04/02/2014
Legal form: Public limited company
Registered office: Cour Lemaire 16
4651 Herve · WallonieSee on map
Contributed capital: 1 300 000,00 €
Latest accounts: 31/12/2025
Average workforce: 13,3 ETP

Activities (NACE)

27900Manufacture of other electrical equipment· main 27900Manufacture of other electrical equipment 71121Engineering activities and related technical consultancy 71121Engineering activities and related technical consultancy 71121Engineering activities and related technical consultancy 71121Engineering activities and related technical consultancy

Joint committees (3)

149
14901
200

Signals

Good liquidityPositive EBITDAHealthy social debts

Financials

Source · NBB, 11 filings

Trend over 10 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	1,6 M €	-49.3%	3,1 M €	+128%	1,3 M €	+80.8%	743,6 k €	-56.5%	1,7 M €
EBITDA	46,1 k €	-97.1%	1,6 M €	+6059%	25,6 k €	+106%	-431,5 k €	-170%	620,2 k €
Operating result	-183,1 k €	-114%	1,4 M €	+482%	-354,5 k €	+57.4%	-831,6 k €	-563%	179,8 k €
Net result	-236 k €	-118%	1,3 M €	+428%	-396,4 k €	+53.7%	-856,6 k €	-653%	154,9 k €
Balance sheet
Equity	1,3 M €	-17.7%	1,6 M €	+352%	355,2 k €	-55.6%	799,8 k €	+6.0%	754,8 k €
Total assets	6,3 M €	-32.0%	9,3 M €	+44.5%	6,4 M €	+58.2%	4 M €	-19.4%	5 M €
Cash	2 M €	+8.3%	1,9 M €	+62.7%	1,2 M €	+28.8%	900,8 k €	-14.8%	1,1 M €
Debts	5 M €	-35.1%	7,6 M €	+26.7%	6 M €	+91.1%	3,2 M €	-21.8%	4 M €
Other
Workforce	13,3 ETP	-0.7%	13,4 ETP	-1.5%	13,6 ETP	-0.7%	13,7 ETP	+5.4%	13,0 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

4 active · 24 ended

Active mandates

Cédric SERRUYS

Director · since 29 février 2024 · until 28 mai 2030

Active

Douglas Kristensen

Managing director · since 29 juin 2017 · until 26 mai 2026

Active

Jean-Marc Eloy

Managing director · since 04 février 2014 · until 27 mai 2031

Active

Matthew Clayton Such

Chairman of the board of directors · since 04 février 2014 · until 27 mai 2031

Active

Ended mandates

Jean-Marc Eloy

Managing director · since 19 décembre 2019 · until 27 mai 2025

Ended

Edward HERMAN

Chairman of the board of directors · since 13 mars 2018 · until 23 mai 2023

Ended

Douglas KRISTENSEN

Managing director · since 29 juin 2017 · until 29 juin 2020

Ended

Matthew Clayton SUCH

Director · since 29 juin 2017 · until 24 mai 2019

Ended

Other companies at this address

Cour Lemaire 16 4651 Herve

Company	CBE no.
KS RESEARCH● Active	0477.758.751

Full financial information

Source · NBB

	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	12/06/2026	03/06/2025	19/06/2024	06/06/2023	25/05/2022	13/07/2021
General meeting	26/05/2026	27/05/2025	28/05/2024	23/05/2023	24/05/2022	30/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 11 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/05/2026	12/06/2026	French	PDF
Abridged model	31/12/2024	27/05/2025	03/06/2025	French	PDF
Abridged model	31/12/2023	28/05/2024	19/06/2024	French	PDF
Abridged model	31/12/2022	23/05/2023	06/06/2023	French	PDF
Abridged model	31/12/2021	24/05/2022	25/05/2022	French	PDF
Abridged model	31/12/2020	30/06/2021	13/07/2021	French	PDF
Abridged model	31/12/2019	26/05/2020	04/06/2020	French	PDF
Abridged model	31/12/2018	28/05/2019	13/06/2019	French	PDF
Abridged model	31/12/2017	22/05/2018	29/05/2018	French	PDF
Full model	31/12/2016	23/05/2017	16/06/2017	French	PDF
Full model	30/06/2015	15/10/2015	12/11/2015	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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.

Board of directors

Source · NBB, accounts to 31/12/2025

4 active · 24 ended

Active mandates

Cédric SERRUYS

Director · since 29 février 2024 · until 28 mai 2030

Active

Douglas Kristensen

Managing director · since 29 juin 2017 · until 26 mai 2026

Active

Jean-Marc Eloy

Managing director · since 04 février 2014 · until 27 mai 2031

Active

Matthew Clayton Such

Chairman of the board of directors · since 04 février 2014 · until 27 mai 2031

Active

Ended mandates

Jean-Marc Eloy

Managing director · since 19 décembre 2019 · until 27 mai 2025

Ended

Edward HERMAN

Chairman of the board of directors · since 13 mars 2018 · until 23 mai 2023

Ended

Douglas KRISTENSEN

Managing director · since 29 juin 2017 · until 29 juin 2020

Ended

Matthew Clayton SUCH

Director · since 29 juin 2017 · until 24 mai 2019

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates30/07/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates10/03/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates05/04/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates19/06/2023
DEMISSIONS, NOMINATIONS
PDF
Capital / shares23/12/2022
CAPITAL, ACTIONS
PDF
Capital / shares02/12/2022
CAPITAL, ACTIONS
PDF
Mandates02/08/2021
DEMISSIONS, NOMINATIONS
PDF
Other21/12/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

2025
Annual accounts 2025-236 k €↓
2024
Annual accounts 20241,3 M €↑
2023
Annual accounts 2023-396,4 k €↑
2022
Annual accounts 2022-856,6 k €↓
2021
Annual accounts 2021154,9 k €↑
2020
Annual accounts 2020-420 k €↑
2019
Annual accounts 2019-951,9 k €↓
2018
Annual accounts 2018-872,3 k €↓
2017
Annual accounts 2017-548 k €↓
2015
Annual accounts 2015320,1 k €
04/02/2014
IncorporationPublic limited company

IEM Power Systems

Overview

Identity

Financials

Valuation

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

Timeline