ACTIVE

I-PULSES

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Financial year 2025 · closed on 31/12/2025

Net result

-78,2 k €

-1920.4% YoY

Gross margin

1,1 M €

-0.6% YoY

Equity

4,1 M €

+174.4% YoY

Workforce

10,3 ETP

-13.4% YoY

What does I-PULSES do?

I-PULSES is a Private limited company incorporated in 2018. Its main activity is: Computer programming activities. Its registered office is in Blégny. It employs on average 10,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0690.859.437

Incorporation

22/02/2018

Legal form

Private limited company

Registered office

Esplanade De Cuyper-Beniest 5 box 2119
4671 Blégny · WallonieSee on map

Contributed capital

2 844 000,00 €

Latest accounts

31/12/2025

Average workforce

10,3 ETP

Activities (NACE)

62010Computer programming activities· main 62020Computer consultancy activities 62100Computer programming, consultancy and related activities 62200Computer programming, consultancy and related activities 46500Wholesale of information and communication equipment 46510Wholesale of computers, computer peripheral equipment and software+2

Contacts

2 public details availableLog in to view

Signals

Solid equityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 8 financial years

	2025		2024		2023		2022	2021	2020		2019		2018
Income statement
Gross margin	1,1 M €	-0.6%	1,1 M €	-9.8%	1,2 M €	+27.0%	962 k €	–	329,9 k €	-21.6%	421 k €	+357%	92,1 k €
EBITDA	207,3 k €	+14.8%	180,6 k €	-24.5%	239,3 k €	+68.7%	141,9 k €	–	28,1 k €	-83.1%	166,4 k €	+115%	77,5 k €
Operating result	31,2 k €	-73.0%	115,5 k €	+12.8%	102,4 k €	+70.6%	60 k €	–	-20,6 k €	-114%	152,2 k €	+102%	75,2 k €
Net result	-78,2 k €	-1920%	4,3 k €	-79.8%	21,2 k €	-18.8%	26,2 k €	–	-20,6 k €	-120%	105,2 k €	+94.1%	54,2 k €
Balance sheet
Equity	4,1 M €	+174%	1,5 M €	+1.8%	1,5 M €	+34.4%	1,1 M €	–	178,8 k €	-10.3%	199,3 k €	+112%	94,2 k €
Total assets	6,7 M €	+25.9%	5,3 M €	+40.8%	3,8 M €	+20.5%	3,1 M €	–	755,4 k €	+26.8%	595,9 k €	+145%	242,9 k €
Cash	457,9 k €	+389%	93,6 k €	+41.2%	66,3 k €	-59.4%	163,2 k €	–	95,3 k €	-0.3%	95,6 k €	-13.2%	110,1 k €
Debts	2,5 M €	-34.0%	3,7 M €	+69.2%	2,2 M €	+9.1%	2 M €	–	549 k €	+78.9%	306,9 k €	+106%	148,7 k €
Other
Workforce	10,3 ETP	-13.4%	11,9 ETP		–		12,6 ETP	–	–		4,0 ETP	+1900%	0,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 9 ended

Active mandates

Jonathan BAERS

Director · since 21 novembre 2025

Active

Marc BEYENS

Director · since 21 novembre 2025

Active

NOSHAQ PARTNERS

Director · since 21 novembre 2025 · 0808.219.836

Represented by Laure GARDIER

Active

Renaud DEMARNEFFE

Director · since 21 novembre 2025

Active

Vincent PARMENTIER

Director · since 21 novembre 2025

Active

Ended mandates

Vincent PARMENTIER

Director · since 14 octobre 2021

Ended

Jonathan BAERS

Mandate

Ended

Jonathan BAERS

Director

Ended

Pierre MARECHAL

Mandate

Ended

At this address

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AGENCE LOCALE POUR L'EMPLOI DE BLEGNY● Active	0455.589.105
ASBL PROMO FOOT LIEGE● Active	0893.560.535
BE MOSAN● Active	0671.957.996
DVCNT● Active	1032.221.639
FONDATION LARMES DE COULEURS● Active	0782.784.555

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Micro model	Abridged model	Abridged 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	28/07/2026	29/08/2025	30/08/2024	03/08/2023	11/08/2022	10/08/2021
General meeting	26/06/2026	25/08/2025	23/08/2024	16/06/2023	17/06/2022	18/06/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

9 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/06/2026	28/07/2026	French	PDF
Abridged model	31/12/2024	25/08/2025	29/08/2025	French	PDF
Micro model	31/12/2023	23/08/2024	30/08/2024	French	PDF
Abridged model	31/12/2022	16/06/2023	03/08/2023	French	PDF
Abridged modelCorrection	31/12/2021	17/06/2022	11/08/2022	French	PDF
Abridged model	31/12/2021	17/06/2022	27/06/2022	French	PDF
Micro model	31/12/2020	18/06/2021	10/08/2021	French	PDF
Abridged model	31/12/2019	14/08/2020	18/08/2020	French	PDF
Abridged model	31/12/2018	31/05/2019	03/06/2019	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 · 5 active · 9 ended

Active mandates

Jonathan BAERS

Director · since 21 novembre 2025

Active

Marc BEYENS

Director · since 21 novembre 2025

Active

NOSHAQ PARTNERS

Director · since 21 novembre 2025 · 0808.219.836

Represented by Laure GARDIER

Active

Renaud DEMARNEFFE

Director · since 21 novembre 2025

Active

Vincent PARMENTIER

Director · since 21 novembre 2025

Active

Ended mandates

Vincent PARMENTIER

Director · since 14 octobre 2021

Ended

Jonathan BAERS

Mandate

Ended

Jonathan BAERS

Director

Ended

Pierre MARECHAL

Mandate

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates25/11/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Capital / shares08/10/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Mandates09/03/2022
DEMISSIONS, NOMINATIONS
PDF
Capital / shares09/06/2021
DIVERS - CAPITAL, ACTIONS
PDF
Mandates20/11/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates28/06/2018
DEMISSIONS, NOMINATIONS
PDF
Other26/02/2018
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

2025
Annual accounts 2025-78,2 k €↓
2024
Annual accounts 20244,3 k €↓
2023
Annual accounts 202321,2 k €↓
2022
Annual accounts 202226,2 k €↑
2021
Annual accounts 2021
2020
Annual accounts 2020-20,6 k €↓
2019
Annual accounts 2019105,2 k €↑
2018
Annual accounts 201854,2 k €
22/02/2018
IncorporationPrivate 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

I-PULSES

Overview

What does I-PULSES do?

Trend over 8 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