ACTIVE

IPSILON Belgium

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Financial year 2025 · closed on 31/12/2025

Net result

176,1 k €

-65.2% YoY

Gross margin

1,6 M €

-21.7% YoY

Equity

1,8 M €

+10.8% YoY

Workforce

12,3 ETP

-14.6% YoY

What does IPSILON Belgium do?

IPSILON Belgium is a Public limited company incorporated in 2009. Its main activity is: Other professional, scientific and technical activities n.e.c.. Its registered office is in Gent. It employs on average 12,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0821.158.349

Incorporation

07/12/2009

Legal form

Public limited company

Registered office

Bellevue 5/501
9050 Gent · FlandreSee on map

Contributed capital

100 000,00 €

Latest accounts

31/12/2025

Average workforce

12,3 ETP

Activities (NACE)

74909Other professional, scientific and technical activities n.e.c.· main 74999Other professional, scientific and technical activities n.e.c.82990Other business support service activities n.e.c.82990Other business support service activities n.e.c.64200Activities of holding companies 64210Activities of holding companies+4

Joint committees (3)

200
20000
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Gross margin	1,6 M €	-21.7%	2 M €	+10.7%	1,8 M €	-2.8%	1,8 M €	-2.1%	1,9 M €	+119%	858,1 k €	+9.3%	785,4 k €	+15.3%	681,4 k €	+26.0%	541 k €	+12.2%	482,4 k €	+27.9%	377 k €	+9.5%	344,3 k €	+82.0%	189,2 k €	+254%	53,4 k €
EBITDA	267,3 k €	-60.5%	677,3 k €	+6.3%	637,2 k €	-24.2%	840,2 k €	-6.4%	897,8 k €	+113%	421,4 k €	+31.8%	319,7 k €	+35.1%	236,7 k €	+124%	105,9 k €	-2.6%	108,7 k €	+426%	20,6 k €	-58.1%	49,3 k €	-8.7%	54 k €	+478%	9,3 k €
Operating result	239,8 k €	-63.7%	660,3 k €	+5.8%	624,1 k €	-22.8%	808,7 k €	-6.2%	862,1 k €	+120%	391,3 k €	+32.8%	294,6 k €	+39.4%	211,3 k €	+174%	77,2 k €	-1.0%	78 k €	+864%	-10,2 k €	-151%	19,9 k €	+50.2%	13,3 k €	+190%	-14,8 k €
Net result	176,1 k €	-65.2%	506,4 k €	+11.4%	454,6 k €	-21.8%	581,5 k €	-7.5%	628,6 k €	+148%	253,2 k €	+39.3%	181,8 k €	+51.1%	120,3 k €	+211%	38,7 k €	-16.9%	46,5 k €	+312%	-21,9 k €	-800%	3,1 k €	+9.3%	2,9 k €	+114%	-20,8 k €
Balance sheet
Equity	1,8 M €	+10.8%	1,6 M €	-5.4%	1,7 M €	+35.7%	1,3 M €	+84.0%	692,2 k €	+121%	313,8 k €	+36.8%	229,4 k €	+35.9%	168,8 k €	+42.5%	118,5 k €	+7.9%	109,8 k €	+73.5%	63,3 k €	-25.7%	85,2 k €	+3.8%	82,1 k €	+3.6%	79,2 k €
Total assets	4,2 M €	+51.1%	2,8 M €	+24.6%	2,3 M €	+22.8%	1,8 M €	+9.3%	1,7 M €	+56.6%	1,1 M €	+13.6%	943,5 k €	+2.9%	917,2 k €	+36.1%	674 k €	+6.5%	632,8 k €	+19.6%	529,3 k €	-6.7%	567,2 k €	+4.7%	541,8 k €	+68.5%	321,6 k €
Cash	363,9 k €	-54.9%	807,3 k €	+8.1%	746,5 k €	-16.9%	898 k €	+5.9%	848 k €	+116%	393 k €	-15.4%	464,5 k €	+28.7%	360,9 k €	+112%	169,9 k €	+67.8%	101,2 k €	+130%	43,9 k €	-54.1%	95,6 k €	+284%	24,9 k €	-37.7%	40 k €
Debts	2,4 M €	+108%	1,2 M €	+122%	525,3 k €	-6.0%	558,7 k €	-42.5%	971,5 k €	+28.2%	757,9 k €	+6.1%	714,1 k €	-4.6%	748,4 k €	+34.7%	555,5 k €	+6.3%	522,5 k €	+12.1%	466 k €	-3.3%	482 k €	+9.2%	441,2 k €	+83.0%	241 k €
Other
Workforce	12,3 ETP	-14.6%	14,4 ETP	+9.9%	13,1 ETP	+9.2%	12,0 ETP		–		6,2 ETP	+3.3%	6,0 ETP	+7.1%	5,6 ETP	0.0%	5,6 ETP	+7.7%	5,2 ETP	+15.6%	4,5 ETP	+18.4%	3,8 ETP	+90.0%	2,0 ETP	+81.8%	1,1 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 · 3 active · 26 ended

Active mandates

CADRE DYNAMIQUE

Managing director · since 12 février 2026 · until 03 juin 2030 · 0832.700.458

Active

AXEL PLAS

Managing director · since 21 juin 2023 · until 11 février 2026 · 0878.763.184

Represented by Axel PLAS

Active

VALERIE FERAY

Director · since 21 juin 2023 · until 04 juin 2029

Active

Ended mandates

AXEL PLAS

Managing director · since 21 juin 2023 · until 04 juin 2029 · 0878.763.184

Represented by Axel PLAS

Ended

VALERIE FERAY

Managing director · since 21 juin 2023 · until 04 juin 2029

Ended

AXEL PLAS

Director · since 01 juin 2021 · until 01 juin 2024 · 0878.763.184

Represented by Plas AXEL

Ended

Canardo

Director · since 01 juin 2021 · until 01 juin 2024 · 0685.548.587

Represented by Declerck JEROEN

Ended

Annual accounts

Full financial information

	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	29/07/2026	03/07/2025	30/07/2024	22/08/2023	20/07/2022	23/06/2021
General meeting	01/06/2026	02/06/2025	03/06/2024	28/04/2023	07/06/2022	07/06/2021
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

16 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	01/06/2026	29/07/2026	Dutch	PDF
Abridged model	31/12/2024	02/06/2025	03/07/2025	Dutch	PDF
Abridged model	31/12/2023	03/06/2024	30/07/2024	Dutch	PDF
Abridged model	31/12/2022	28/04/2023	22/08/2023	Dutch	PDF
Abridged model	31/12/2021	07/06/2022	20/07/2022	Dutch	PDF
Abridged model	31/12/2020	07/06/2021	23/06/2021	Dutch	PDF
Abridged model	31/12/2019	02/06/2020	25/08/2020	Dutch	PDF
Abridged model	31/12/2018	03/06/2019	27/08/2019	Dutch	PDF
Abridged model	31/12/2017	04/06/2018	27/06/2018	Dutch	PDF
Abridged model	31/12/2016	06/06/2017	15/06/2017	Dutch	PDF
Abridged model	31/12/2015	06/06/2016	14/06/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	09/07/2015	Dutch	PDF
Abridged model	31/12/2013	02/06/2014	30/07/2014	Dutch	PDF
Abridged model	31/12/2012	03/06/2013	01/07/2013	Dutch	PDF
Abridged model	31/12/2011	04/06/2012	25/06/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	21/06/2011	Dutch	PDF

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 · 3 active · 26 ended

Active mandates

CADRE DYNAMIQUE

Managing director · since 12 février 2026 · until 03 juin 2030 · 0832.700.458

Active

AXEL PLAS

Managing director · since 21 juin 2023 · until 11 février 2026 · 0878.763.184

Represented by Axel PLAS

Active

VALERIE FERAY

Director · since 21 juin 2023 · until 04 juin 2029

Active

Ended mandates

AXEL PLAS

Managing director · since 21 juin 2023 · until 04 juin 2029 · 0878.763.184

Represented by Axel PLAS

Ended

VALERIE FERAY

Managing director · since 21 juin 2023 · until 04 juin 2029

Ended

AXEL PLAS

Director · since 01 juin 2021 · until 01 juin 2024 · 0878.763.184

Represented by Plas AXEL

Ended

Canardo

Director · since 01 juin 2021 · until 01 juin 2024 · 0685.548.587

Represented by Declerck JEROEN

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/03/2026
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring30/01/2026
BENAMING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring26/11/2025
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Registered office07/05/2024
MAATSCHAPPELIJKE ZETEL
PDF
Mandates03/07/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/05/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/03/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/02/2015
ONTSLAGEN - BENOEMINGEN
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 2025176,1 k €↓
2025
Name changeIPSILON BELGIUM
2024
Annual accounts 2024506,4 k €↑
2023
Annual accounts 2023454,6 k €↓
2022
Annual accounts 2022581,5 k €↓
2021
Annual accounts 2021628,6 k €↑
2018
Annual accounts 2018253,2 k €↑
2017
Annual accounts 2017181,8 k €↑
2016
Annual accounts 2016120,3 k €↑
2015
Annual accounts 201538,7 k €↓
2014
Annual accounts 201446,5 k €↑
2013
Annual accounts 2013-21,9 k €↓
2012
Annual accounts 20123,1 k €↑
2011
Annual accounts 20112,9 k €↑
2010
Annual accounts 2010-20,8 k €
2010
Name changeIP HILLS
07/12/2009
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

IPSILON Belgium

Overview

What does IPSILON Belgium do?

Trend over 14 financial years

Indicative valuation

Board of directors

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