ACTIVE

IRoAD

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Financial year 2025 · closed on 30/09/2025

Net result

182 k €

+161.8% YoY

Gross margin

358,6 k €

+63.0% YoY

Equity

363,8 k €

+6.4% YoY

Workforce

1,7 ETP

+70.0% YoY

What does IRoAD do?

IRoAD is a Private company with limited liability incorporated in 2007. Its main activity is: Advertising agencies. Its registered office is in Uccle. It employs on average 1,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0886.115.883

Incorporation

04/01/2007

Legal form

Private company with limited liability

Registered office

Avenue des Chalets 28 box c
1180 Uccle · BruxellesSee on map

Contributed capital

30 000,00 €

Latest accounts

30/09/2025

Average workforce

1,7 ETP

Activities (NACE)

73110Advertising agencies· main 73110Advertising agencies 74401Other professional, scientific and technical activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	358,6 k €	+63.0%	220 k €	+4.7%	210,2 k €	+35.5%	155,1 k €	+24.6%	124,5 k €	-6.2%	132,7 k €	-68.9%	427,4 k €	-28.5%	598,1 k €	+28.0%	467,1 k €	+131%	202,4 k €	+1684%	11,3 k €	-33.8%	17,1 k €	+113%	8,1 k €	-10.9%	9 k €	-37.2%	14,4 k €	-67.7%	44,5 k €	-15.5%	52,7 k €	-7.3%	56,8 k €
EBITDA	207 k €	+116%	95,8 k €	-0.4%	96,2 k €	+77.8%	54,1 k €	+7.1%	50,5 k €	+56.6%	32,2 k €	-90.5%	340,7 k €	-33.2%	509,8 k €	+25.2%	407,2 k €	+103%	200,9 k €	+1868%	10,2 k €	-37.6%	16,4 k €	+124%	7,3 k €	-11.5%	8,3 k €	-37.6%	13,2 k €	+62.9%	8,1 k €	-44.2%	14,5 k €	-8.3%	15,8 k €
Operating result	194,8 k €	+127%	85,7 k €	-4.3%	89,6 k €	+69.0%	53 k €	+7.7%	49,2 k €	+66.7%	29,5 k €	-91.3%	337,6 k €	-32.8%	502,3 k €	+27.0%	395,5 k €	+102%	195,6 k €	+5105%	3,8 k €	-72.0%	13,4 k €	+347%	3 k €	-49.6%	6 k €	-39.8%	9,9 k €	+165%	3,7 k €	-64.7%	10,6 k €	-20.2%	13,3 k €
Net result	182 k €	+162%	69,5 k €	-13.4%	80,3 k €	+65.3%	48,6 k €	+4.8%	46,4 k €	+96.8%	23,6 k €	-92.8%	325,1 k €	-35.3%	502,8 k €	+51.2%	332,6 k €	+161%	127,3 k €	+6526%	1,9 k €	-80.6%	9,9 k €	+270%	2,7 k €	-51.5%	5,5 k €	-16.1%	6,6 k €	+156%	2,6 k €	-66.7%	7,7 k €	+101%	3,8 k €
Balance sheet
Equity	363,8 k €	+6.4%	341,8 k €	+2.9%	332,3 k €	+0.1%	332,1 k €	+1.1%	328,5 k €	+0.4%	327,1 k €	+1.1%	323,6 k €	+8.4%	298,5 k €	+1.0%	295,6 k €	+49.3%	198 k €	+180%	70,7 k €	+2.8%	68,8 k €	+16.8%	58,9 k €	+4.8%	56,3 k €	+10.9%	50,7 k €	+14.9%	44,1 k €	+6.2%	41,6 k €	+22.8%	33,8 k €
Total assets	808,2 k €	+26.7%	637,9 k €	-39.2%	1 M €	+30.2%	806,3 k €	+13.7%	709,3 k €	+2.1%	694,7 k €	-28.6%	973,5 k €	-48.5%	1,9 M €	+18.6%	1,6 M €	+271%	429,8 k €	+120%	195,6 k €	+21.5%	161 k €	-16.1%	191,9 k €	-46.6%	359,4 k €	+74.0%	206,6 k €	-4.6%	216,6 k €	-45.2%	395,1 k €	+49.5%	264,3 k €
Cash	249,4 k €	+8.6%	229,7 k €	+120%	104,6 k €	+298%	26,3 k €	-77.4%	116,4 k €	-72.4%	421,8 k €	-21.5%	537,1 k €	-8.0%	583,7 k €	+85.9%	314 k €	+163%	119,3 k €	+827%	12,9 k €	-81.2%	68,4 k €	+134%	29,2 k €	+176%	10,6 k €	-80.1%	53,1 k €	+565%	8 k €	-93.3%	119,1 k €	+979%	11 k €
Debts	343,6 k €	+91.1%	179,8 k €	-65.1%	515,2 k €	+8.8%	473,6 k €	+24.4%	380,7 k €	+3.7%	367,1 k €	-43.5%	649,5 k €	-59.2%	1,6 M €	+23.8%	1,3 M €	+455%	231,8 k €	+87.2%	123,8 k €	+34.3%	92,2 k €	-30.6%	133 k €	-56.1%	303,1 k €	+94.5%	155,8 k €	-9.6%	172,5 k €	-51.2%	353,5 k €	+54.6%	228,7 k €
Other
Workforce	1,7 ETP	+70.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP		–		–		–		–		–		–		1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 1 active · 4 ended

Active mandates

D.G.P.R. INVEST

Director · since 21 décembre 2016 · 0452.533.011

Represented by Patrick GRAUWELS

Active

Ended mandates

D.G.P.R. INVEST

Managing director · 0452.533.011

Represented by PATRICK GRAUWELS

Ended

Joseph-Marc SCHULMAN

Manager

Ended

Marc SCHULMAN

Manager

Ended

Patrick GRAUWELS

Manager

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	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	22/05/2026	21/05/2025	14/05/2024	03/05/2023	11/05/2022	30/04/2021
General meeting	19/05/2026	28/04/2025	25/04/2024	25/04/2023	26/04/2022	26/04/2021
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

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	19/05/2026	22/05/2026	French	PDF
Abridged model	30/09/2024	28/04/2025	21/05/2025	French	PDF
Abridged model	30/09/2023	25/04/2024	14/05/2024	French	PDF
Abridged model	30/09/2022	25/04/2023	03/05/2023	French	PDF
Abridged model	30/09/2021	26/04/2022	11/05/2022	French	PDF
Abridged model	30/09/2020	26/04/2021	30/04/2021	French	PDF
Abridged model	30/09/2019	27/04/2020	29/05/2020	French	PDF
Abridged model	30/09/2018	26/04/2019	29/05/2019	French	PDF
Abridged model	30/09/2017	02/05/2018	03/05/2018	French	PDF
Abridged model	31/12/2015	26/09/2016	30/09/2016	French	PDF
Abridged model	31/12/2014	30/06/2015	28/08/2015	French	PDF
Abridged model	31/12/2013	30/06/2014	27/08/2014	French	PDF
Abridged model	31/12/2012	28/06/2013	26/08/2013	French	PDF
Abridged model	31/12/2011	29/06/2012	30/08/2012	French	PDF
Abridged model	31/12/2010	30/06/2011	29/09/2011	French	PDF
Abridged model	31/12/2009	30/06/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	30/06/2009	13/11/2009	French	PDF
Abridged model	31/12/2007	30/06/2008	28/08/2008	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 30/09/2025 · 1 active · 4 ended

Active mandates

D.G.P.R. INVEST

Director · since 21 décembre 2016 · 0452.533.011

Represented by Patrick GRAUWELS

Active

Ended mandates

D.G.P.R. INVEST

Managing director · 0452.533.011

Represented by PATRICK GRAUWELS

Ended

Joseph-Marc SCHULMAN

Manager

Ended

Marc SCHULMAN

Manager

Ended

Patrick GRAUWELS

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates01/09/2026
nomination d'administrateur
PDF
Mandates19/01/2017
DEMISSIONS, NOMINATIONS - ANNEE COMPTABLE
PDF
Registered office12/11/2015
SIEGE SOCIAL
PDF
Mandates18/09/2015
DEMISSIONS, NOMINATIONS
PDF
Registered office31/08/2011
SIEGE SOCIAL
PDF
Other11/01/2007
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 2025182 k €↑
2024
Annual accounts 202469,5 k €↓
2023
Annual accounts 202380,3 k €↑
2022
Annual accounts 202248,6 k €↑
2021
Annual accounts 202146,4 k €↑
2020
Annual accounts 202023,6 k €↓
2019
Annual accounts 2019325,1 k €↓
2018
Annual accounts 2018502,8 k €↑
2017
Annual accounts 2017332,6 k €↑
2015
Annual accounts 2015127,3 k €↑
2014
Annual accounts 20141,9 k €↓
2013
Annual accounts 20139,9 k €↑
2012
Annual accounts 20122,7 k €↓
2011
Annual accounts 20115,5 k €↓
2010
Annual accounts 20106,6 k €↑
2009
Annual accounts 20092,6 k €↓
2008
Annual accounts 20087,7 k €↑
2007
Annual accounts 20073,8 k €
04/01/2007
IncorporationPrivate company with limited liability

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

IRoAD

Overview

What does IRoAD do?

Trend over 18 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