ACTIVE

ICOFORM

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Financial year 2025 · closed on 31/12/2025

Net result

36,7 k €

-5.3% YoY

Gross margin

694,5 k €

-17.6% YoY

Equity

225,5 k €

+19.5% YoY

Workforce

1,6 ETP

-64.4% YoY

What does ICOFORM do?

ICOFORM is a Private limited company incorporated in 2010. Its main activity is: Wholesale of machinery for the textile industry and of sewing and knitting machines. Its registered office is in Ottignies-Louvain-la-Neuve. It employs on average 1,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0829.264.975

Incorporation

15/09/2010

Legal form

Private limited company

Registered office

Granbonpré 11
1348 Ottignies-Louvain-la-Neuve · WallonieSee on map

Contributed capital

20 000,00 €

Latest accounts

31/12/2025

Average workforce

1,6 ETP

Activities (NACE)

46649Wholesale of machinery for the textile industry and of sewing and knitting machines· main 46699Wholesale of other machinery and equipment 70200Management consultancy activities 70220Business and other management consultancy activities

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 13 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011
Income statement
Gross margin	694,5 k €	-17.6%	842,8 k €	+14.6%	735,4 k €	+11.3%	660,5 k €	-3.8%	686,8 k €	+3.4%	664,5 k €	+0.1%	664 k €	-17.8%	808,3 k €	-16.1%	963,7 k €	-17.0%	1,2 M €	-7.9%	1,3 M €	-0.7%	1,3 M €	-25.4%	1,7 M €
EBITDA	55 k €	-23.2%	71,6 k €	+20.8%	59,3 k €	+13.8%	52,1 k €	+6.7%	48,8 k €	-24.1%	64,4 k €	-1.8%	65,5 k €	-30.2%	93,9 k €	-18.0%	114,6 k €	-12.4%	130,8 k €	-9.0%	143,8 k €	-7.6%	155,7 k €	-23.2%	202,8 k €
Operating result	53,2 k €	-24.3%	70,3 k €	+20.4%	58,4 k €	+13.5%	51,5 k €	+8.4%	47,5 k €	-20.8%	60 k €	-1.4%	60,8 k €	-23.5%	79,5 k €	-20.8%	100,4 k €	-13.9%	116,7 k €	-7.9%	126,7 k €	-4.5%	132,7 k €	-23.2%	172,8 k €
Net result	36,7 k €	-5.3%	38,8 k €	+18.1%	32,8 k €	+12.5%	29,2 k €	+4.7%	27,9 k €	-6.1%	29,7 k €	-22.5%	38,3 k €	-46.5%	71,6 k €	+144%	-160,8 k €	-389%	55,6 k €	-14.0%	64,7 k €	+0.5%	64,4 k €	-25.0%	85,8 k €
Balance sheet
Equity	225,5 k €	+19.5%	188,8 k €	+25.9%	150 k €	+28.0%	117,2 k €	+33.2%	88 k €	+10960%	795,5 €	+103%	-28,9 k €	+57.0%	-67,2 k €	+51.6%	-138,7 k €	-728%	22,1 k €	+0.4%	22 k €	-0.9%	22,2 k €	-79.0%	105,8 k €
Total assets	337,8 k €	-27.1%	463,3 k €	+52.1%	304,6 k €	+21.5%	250,6 k €	-5.5%	265,3 k €	+5.9%	250,6 k €	-1.7%	254,8 k €	-11.9%	289,2 k €	+38.9%	208,3 k €	-52.2%	435,5 k €	-19.3%	539,9 k €	+2.6%	526 k €	-10.8%	589,4 k €
Cash	143,7 k €	+76.5%	81,4 k €	-29.1%	114,8 k €	+2.5%	112 k €	+68.1%	66,7 k €	+32.9%	50,2 k €	-69.1%	162,3 k €	+56.6%	103,6 k €	+86.2%	55,7 k €	-80.8%	289,3 k €	-16.1%	344,7 k €	+8.2%	318,7 k €	+74.9%	182,3 k €
Debts	111,4 k €	-59.4%	274,4 k €	+77.5%	154,6 k €	+15.8%	133,4 k €	-24.8%	177,4 k €	-26.5%	241,1 k €	-11.2%	271,6 k €	-21.1%	344,3 k €	+0.7%	341,9 k €	-16.3%	408,2 k €	-18.0%	498,1 k €	+1.3%	491,5 k €	+4.2%	471,8 k €
Other
Workforce	1,6 ETP	-64.4%	4,5 ETP	0.0%	4,5 ETP	0.0%	4,5 ETP	0.0%	4,5 ETP	-13.5%	5,2 ETP	-18.8%	6,4 ETP	-20.0%	8,0 ETP	-16.7%	9,6 ETP	-7.7%	10,4 ETP	+6.1%	9,8 ETP	-5.8%	10,4 ETP	+50.7%	6,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 10 ended

Active mandates

Barbara Langer

Director · since 11 août 2025

Active

Bogdan Kopec

Director · until 11 août 2025

Active

Ended mandates

Piotr Zaborowski

Director · since 03 novembre 2017

Ended

Piotr Zaborowski

Manager · since 03 novembre 2017 · until 31 août 2018

Ended

Bogdan Kopec

Director · since 13 mai 2016

Ended

Bogdan Kopec

Manager · since 13 mai 2016

Ended

At this address

Other companies at this address

Company	CBE no.
ActiveMe● Active	0842.057.691
BIO PHARMA LOGISTICS● Bankrupt	0862.445.707
Toly Belgium● Active	0834.118.242

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	25/06/2026	10/06/2025	07/06/2024	12/06/2023	24/06/2022	14/07/2021
General meeting	23/06/2026	30/05/2025	03/06/2024	05/06/2023	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

15 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	23/06/2026	25/06/2026	French	PDF
Abridged model	31/12/2024	30/05/2025	10/06/2025	French	PDF
Abridged model	31/12/2023	03/06/2024	07/06/2024	French	PDF
Abridged model	31/12/2022	05/06/2023	12/06/2023	French	PDF
Abridged model	31/12/2021	07/06/2022	24/06/2022	French	PDF
Abridged model	31/12/2020	07/06/2021	14/07/2021	French	PDF
Abridged model	31/12/2019	02/06/2020	16/06/2020	French	PDF
Abridged model	31/12/2018	03/06/2019	22/08/2019	French	PDF
Abridged model	31/12/2017	30/03/2018	22/06/2018	French	PDF
Abridged model	31/12/2016	06/06/2017	04/08/2017	French	PDF
Abridged model	31/12/2015	06/06/2016	10/08/2016	French	PDF
Abridged model	31/12/2014	04/05/2015	18/06/2015	French	PDF
Abridged model	31/12/2013	14/03/2014	25/04/2014	French	PDF
Abridged model	31/12/2012	03/06/2013	28/06/2013	French	PDF
Abridged model	31/12/2011	04/06/2012	29/08/2012	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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 · 2 active · 10 ended

Active mandates

Barbara Langer

Director · since 11 août 2025

Active

Bogdan Kopec

Director · until 11 août 2025

Active

Ended mandates

Piotr Zaborowski

Director · since 03 novembre 2017

Ended

Piotr Zaborowski

Manager · since 03 novembre 2017 · until 31 août 2018

Ended

Bogdan Kopec

Director · since 13 mai 2016

Ended

Bogdan Kopec

Manager · since 13 mai 2016

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/09/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates31/07/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DENOMINATION
PDF
Mandates26/10/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates18/12/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates15/09/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates31/05/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates28/10/2015
DEMISSIONS, NOMINATIONS
PDF
Mandates02/07/2015
DEMISSIONS, NOMINATIONS
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 202536,7 k €↓
2024
Annual accounts 202438,8 k €↑
2023
Annual accounts 202332,8 k €↑
2023
Name changeIcoform
2022
Annual accounts 202229,2 k €↑
2021
Annual accounts 202127,9 k €↓
2018
Annual accounts 201829,7 k €↓
2017
Annual accounts 201738,3 k €↓
2016
Annual accounts 201671,6 k €↑
2015
Annual accounts 2015-160,8 k €↓
2014
Annual accounts 201455,6 k €↓
2013
Annual accounts 201364,7 k €↑
2012
Annual accounts 201264,4 k €↓
2011
Annual accounts 201185,8 k €
2011
Name changeGrass Tech Solutions
15/09/2010
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

ICOFORM

Overview

What does ICOFORM do?

Trend over 13 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