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Industrial Consulting Automation Research Engineering

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Financial year 2024 · closed on 31/12/2024

Net result

7,9 M €

+525.4% YoY

Revenue

49,2 M €

+36.3% YoY

Equity

18,1 M €

+90.8% YoY

Workforce

332,5 ETP

+3.7% YoY

What does Industrial Consulting Automation Research Engineering do?

Industrial Consulting Automation Research Engineering is a Private limited company incorporated in 2004. Its registered office is in Mons. It employs on average 332,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0867.368.951

Incorporation

21/09/2004

Legal form

Private limited company

Registered office

Rue René Descartes 18
7000 Mons · WallonieSee on map

Contributed capital

6 072 912,14 €

Latest accounts

31/12/2024

Average workforce

332,5 ETP

Joint committees (4)

200
2000
20000
218

Signals

ProfitableSolid equityPositive cashflowPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	49,2 M €	+36.3%	36,1 M €	+21.5%	29,7 M €	+44.1%	20,6 M €	+37.4%	15 M €	+73.6%	8,6 M €		–		–		–		–		–		–		1,4 M €	+18.2%	1,2 M €	+56.3%	760,3 k €	+64.4%	462,4 k €	+80.7%	255,9 k €
EBITDA	11,1 M €	+580%	1,6 M €	+3876%	41 k €	+105%	-845,3 k €	-127%	3,2 M €	+331%	738,5 k €	+15.0%	642,3 k €	+42.7%	450 k €	+14.8%	392 k €	+87.6%	209 k €	-66.9%	631,1 k €	+15.8%	545,1 k €	+393%	110,5 k €	-67.8%	343,6 k €	+81.0%	189,9 k €	+302%	47,3 k €	+142%	19,5 k €
Operating result	7,7 M €	+418%	-2,4 M €	+22.7%	-3,1 M €	+32.8%	-4,7 M €	-837%	633,8 k €	+265%	173,5 k €	+22.7%	141,4 k €	-12.3%	161,2 k €	+0.6%	160,2 k €	+5380%	-3 k €	-101%	518 k €	+19.1%	434,8 k €	+1138%	35,1 k €	-86.6%	262,3 k €	+123%	117,7 k €	+319%	28,1 k €	+894%	2,8 k €
Net result	7,9 M €	+525%	-1,8 M €	+58.0%	-4,4 M €	+0.4%	-4,4 M €	-1534%	308,1 k €	+143%	126,9 k €	+54.2%	82,3 k €	+67.5%	49,1 k €	+4.1%	47,2 k €	-8.4%	51,5 k €	-84.1%	323,5 k €	+17.8%	274,5 k €	+917%	27 k €	-85.1%	181,6 k €	+213%	58 k €	+278%	15,3 k €	+232%	4,6 k €
Balance sheet
Equity	18,1 M €	+90.8%	9,5 M €	+248%	-6,4 M €	-98.0%	-3,2 M €	-152%	6,2 M €	+281%	1,6 M €	+16.0%	1,4 M €	+1.5%	1,4 M €	+11.6%	1,2 M €	+15.3%	1,1 M €	+2.7%	1,1 M €	+76.3%	596,4 k €	+87.5%	318,1 k €	+17.7%	270,3 k €	+154%	106,5 k €	+112%	50,4 k €	+43.8%	35 k €
Total assets	58,2 M €	+48.3%	39,2 M €	+42.5%	27,5 M €	+80.9%	15,2 M €	-27.3%	20,9 M €	+132%	9 M €	+43.7%	6,3 M €	+26.0%	5 M €	+23.0%	4 M €	+18.0%	3,4 M €	+28.7%	2,7 M €	+40.0%	1,9 M €	+74.2%	1,1 M €	+11.6%	978,1 k €	+74.4%	560,8 k €	+124%	250,8 k €	+35.1%	185,6 k €
Cash	1,5 M €	-33.5%	2,2 M €	+207%	726,3 k €	-44.4%	1,3 M €	+10.4%	1,2 M €	+358%	258,6 k €	+110%	123,2 k €	-60.7%	313,2 k €	+97.0%	159 k €	-34.0%	241 k €	-37.2%	383,4 k €	+322%	90,8 k €	+1.1%	89,8 k €	+9.5%	81,9 k €	-40.5%	137,7 k €	+346%	30,9 k €	-68.9%	99,1 k €
Debts	39,8 M €	+34.2%	29,7 M €	-11.6%	33,6 M €	+82.3%	18,4 M €	+25.6%	14,7 M €	+105%	7,1 M €	+48.7%	4,8 M €	+36.1%	3,5 M €	+30.9%	2,7 M €	+19.0%	2,3 M €	+44.6%	1,6 M €	+26.9%	1,2 M €	+86.4%	662,9 k €	+3.5%	640,3 k €	+41.1%	453,7 k €	+126%	200,4 k €	+33.1%	150,6 k €
Other
Workforce	332,5 ETP	+3.7%	320,5 ETP	+13.2%	283,2 ETP	+22.0%	232,1 ETP	+65.0%	140,7 ETP	+118%	64,5 ETP	+10.6%	58,3 ETP	+17.5%	49,6 ETP	+6.7%	46,5 ETP	+14.0%	40,8 ETP	+13.3%	36,0 ETP	+39.0%	25,9 ETP	+61.9%	16,0 ETP	+33.3%	12,0 ETP	+81.8%	6,6 ETP	+53.5%	4,3 ETP	+72.0%	2,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 1 active · 5 ended

Active mandates

I-CARE HOLDING

Director · 0682.567.719

Represented by Fabrice Brion

Active

Ended mandates

I-CARE HOLDING

Manager · since 21 décembre 2018 · 0682.567.719

Represented by Fabrice BRION

Ended

Fabrice Brion

Manager · since 14 septembre 2004

Ended

Fabrice BRION

Manager · since 14 septembre 2004 · until 21 décembre 2018

Ended

I-CARE HOLDING

Director · 0682.567.719

Represented by Fabrice Brion

Ended

At this address

Other companies at this address

Company	CBE no.
I-Lube● Active	0670.788.850
Performance for Assets● Active	0678.486.987

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	14/07/2025	05/08/2024	31/07/2023	29/07/2022	27/07/2021	28/09/2020
General meeting	27/06/2025	28/06/2024	23/06/2023	29/07/2022	30/06/2021	08/09/2020
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

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2024	27/06/2025	14/07/2025	Dutch	PDF
Full model	31/12/2024	27/06/2025	01/07/2025	French	PDF
Full model	31/12/2023	28/06/2024	05/08/2024	Dutch	PDF
Full model	31/12/2023	28/06/2024	05/07/2024	French	PDF
Full model	31/12/2022	23/06/2023	31/07/2023	French	PDF
Full model	31/12/2021	29/07/2022	29/07/2022	French	PDF
Full modelCorrection	31/12/2020	30/06/2021	27/07/2021	French	PDF
Full model	31/12/2020	30/06/2021	26/07/2021	French	PDF
Full model	31/12/2019	08/09/2020	28/09/2020	French	PDF
Full model	31/12/2018	25/09/2019	30/09/2019	French	PDF
Full model	31/12/2017	01/07/2018	20/07/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	24/08/2017	French	PDF
Abridged model	31/12/2015	25/06/2016	12/08/2016	French	PDF
Abridged model	31/12/2014	06/06/2015	25/08/2015	French	PDF
Abridged model	31/12/2013	07/06/2014	07/08/2014	French	PDF
Abridged model	31/12/2012	25/05/2013	08/08/2013	French	PDF
Abridged model	31/12/2011	05/05/2012	28/09/2012	French	PDF
Abridged model	31/12/2010	16/06/2011	26/10/2011	French	PDF
Abridged model	31/12/2009	23/07/2010	26/08/2010	French	PDF
Abridged model	31/12/2008	07/08/2009	27/08/2009	French	PDF
Abridged model	31/12/2007	30/06/2008	27/08/2008	French	PDF
Abridged model	31/12/2006	25/06/2007	15/11/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 31/12/2024 · 1 active · 5 ended

Active mandates

I-CARE HOLDING

Director · 0682.567.719

Represented by Fabrice Brion

Active

Ended mandates

I-CARE HOLDING

Manager · since 21 décembre 2018 · 0682.567.719

Represented by Fabrice BRION

Ended

Fabrice Brion

Manager · since 14 septembre 2004

Ended

Fabrice BRION

Manager · since 14 septembre 2004 · until 21 décembre 2018

Ended

I-CARE HOLDING

Director · 0682.567.719

Represented by Fabrice Brion

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/09/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates14/04/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/01/2025
DEMISSIONS, NOMINATIONS
PDF
Other17/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Other05/10/2023
DIVERS
PDF
Mandates18/04/2023
MODIFICATION FORME JURIDIQUE - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates10/11/2022
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

27/06/2025
reconductionErnst & Young Bedrijfsrevisoren SRL/Bedrijfsrevisoren BV — commissaris
27/06/2025
reconductionErnst & Young Reviseurs d'Entreprises SRL/Bedrifsrevisoren BV — commissaire
27/06/2025
nominationMarie Kaisin — représentante permanente
2024
Annual accounts 20247,9 M €↑
08/10/2024
nominationMarie Kaisin — vaste vertegenwoordiger van de commissaris
08/10/2024
nominationMarie Kaisin — représentant légal du commissaire
2024
Name changeIndustrial Consulting Autom. Research Engineering
2023
Annual accounts 2023-1,8 M €↑
14/04/2023
apport
2022
Annual accounts 2022-4,4 M €↑
24/06/2022
reconductionPiet Hemschoot — représentant permanent du commissaire
2021
Annual accounts 2021-4,4 M €↓
24/11/2021
nominationPiet Hemschoot — représentant permanent du commissaire
2021
Name changeIndustrial Consulting Automation Research Engineering (en abrégé I-CARE)
2018
Annual accounts 2018308,1 k €↑
2017
Annual accounts 2017126,9 k €↑
2016
Annual accounts 201682,3 k €↑
2015
Annual accounts 201549,1 k €↑
2014
Annual accounts 201447,2 k €↓
2013
Annual accounts 201351,5 k €↓
2012
Annual accounts 2012323,5 k €↑
2011
Annual accounts 2011274,5 k €↑
2010
Annual accounts 201027 k €↓
2009
Annual accounts 2009181,6 k €↑
2008
Annual accounts 200858 k €↑
2007
Annual accounts 200715,3 k €↑
2006
Annual accounts 20064,6 k €
2006
Name changeIndustrial Consulting Automation Research Engineering
21/09/2004
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

Industrial Consulting Automation Research Engineering

Overview

What does Industrial Consulting Automation Research Engineering do?

Trend over 17 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