ACTIVE

IWARDO

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Financial year 2025 · closed on 31/12/2025

Net result

-21,9 k €

+68.4% YoY

Gross margin

-7,6 k €

-10.7% YoY

Equity

456,7 k €

-4.6% YoY

What does IWARDO do?

IWARDO is a Private limited company incorporated in 2007. Its main activity is: Other specialised construction activities n.e.c.. Its registered office is in Anderlecht.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0890.922.135

Incorporation

18/07/2007

Legal form

Private limited company

Registered office

Quai Fernand Demets 23
1070 Anderlecht · BruxellesSee on map

Contributed capital

87 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

43990Other specialised construction activities n.e.c.· main 43999Other specialised construction activities n.e.c.43110Demolition 43110Demolition 43350Building completion and finishing 43390Other building completion and finishing+1

Joint committees (2)

Signals

Good liquidity

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	-7,6 k €	-10.7%	-6,8 k €	+3.0%	-7,1 k €	-106%	122,6 k €	-17.4%	148,5 k €	+42.4%	104,3 k €	-67.7%	323,1 k €	-30.3%	463,9 k €	+5110%	-9,3 k €	+65.6%	-26,9 k €	-180%	33,6 k €	+219%	-28,2 k €	+2.9%	-29,1 k €	-138%	76,6 k €	-60.5%	193,7 k €	+72.3%	112,4 k €	-21.8%	143,7 k €	-25.3%	192,5 k €
EBITDA	-8,6 k €	-25.3%	-6,8 k €	+24.8%	-9,1 k €	-108%	121,3 k €	+285%	31,5 k €	-69.8%	104,3 k €	-67.7%	323,1 k €	-30.3%	463,5 k €	+5038%	-9,4 k €	+65.3%	-27,1 k €	-181%	33,5 k €	+212%	-29,9 k €	+22.2%	-38,5 k €	-152%	-15,3 k €	-286%	8,2 k €	-24.5%	10,8 k €	-59.7%	26,9 k €	+168%	10 k €
Operating result	-8,6 k €	-25.3%	-6,8 k €	+24.8%	-9,1 k €	-108%	121,3 k €	+285%	31,5 k €	-69.8%	104,3 k €	-67.7%	323,1 k €	-30.3%	463,5 k €	+5038%	-9,4 k €	+65.3%	-27,1 k €	-181%	33,5 k €	+212%	-29,9 k €	+23.4%	-39,1 k €	-146%	-15,9 k €	-562%	3,4 k €	-55.4%	7,7 k €	-69.1%	24,9 k €	+199%	8,3 k €
Net result	-21,9 k €	+68.4%	-69,3 k €	-32.6%	-52,3 k €	-172%	73,1 k €	+1796%	-4,3 k €	-106%	77,1 k €	-63.1%	208,9 k €	-39.1%	343,3 k €	+1105%	-34,1 k €	+53.4%	-73,4 k €	-1043%	7,8 k €	+117%	-45,2 k €	-15.8%	-39 k €	-142%	-16,1 k €	-917%	2 k €	-65.2%	5,7 k €	-64.9%	16,1 k €	+177%	5,8 k €
Balance sheet
Equity	456,7 k €	-4.6%	478,6 k €	-12.7%	548 k €	-8.7%	600,2 k €	+13.9%	527,1 k €	-0.8%	531,5 k €	+17.0%	454,4 k €	+85.1%	245,5 k €	+351%	-97,9 k €	-53.6%	-63,7 k €	-763%	9,6 k €	+422%	1,8 k €	-96.1%	47,1 k €	-45.3%	86,1 k €	+313%	20,8 k €	+10.5%	18,9 k €	+43.0%	13,2 k €	+9.5%	12 k €
Total assets	3,2 M €	-0.3%	3,2 M €	-1.0%	3,2 M €	+66.2%	1,9 M €	-14.2%	2,3 M €	+305%	559,9 k €	-1.6%	568,9 k €	-69.4%	1,9 M €	+14.9%	1,6 M €	+2.2%	1,6 M €	-10.4%	1,8 M €	+43.6%	1,2 M €	+146%	501,1 k €	+446%	91,8 k €	+43.3%	64,1 k €	+43.1%	44,8 k €	-37.5%	71,6 k €	+31.7%	54,4 k €
Cash	15,2 k €	-36.9%	24,1 k €	-21.9%	30,9 k €	-85.7%	216,2 k €	-82.6%	1,2 M €	+200%	414,8 k €	+47.4%	281,4 k €	-62.0%	741,2 k €	+825%	80,2 k €	+93.7%	41,4 k €	-88.9%	374,1 k €	+585%	54,6 k €	+466%	9,7 k €	-80.3%	49,1 k €	+27.7%	38,5 k €	+161%	14,7 k €	-75.6%	60,5 k €	+766%	7 k €
Debts	2,6 M €	0.0%	2,6 M €	-1.0%	2,6 M €	+97.9%	1,3 M €	-21.0%	1,7 M €	+5807%	28,4 k €	-75.2%	114,5 k €	-92.6%	1,5 M €	-7.6%	1,7 M €	+5.4%	1,6 M €	-8.9%	1,7 M €	+44.5%	1,2 M €	+166%	454 k €	+7796%	5,8 k €	-86.7%	43,2 k €	+66.9%	25,9 k €	-40.3%	43,4 k €	+2.5%	42,3 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		12,6 ETP	0.0%	12,6 ETP	+14.5%	11,0 ETP	-2.7%	11,3 ETP	+8.7%	10,4 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 · 1 active · 4 ended

Active mandates

Aydin Akay

Mandate

Active

Ended mandates

FIKRI AKAY

Mandate

Ended

FIKRI AKAY

Manager

Ended

SABRI AKAY

Mandate

Ended

SABRI AKAY

Manager · until 13 avril 2012

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro 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	23/06/2026	25/06/2025	07/06/2024	14/06/2023	10/06/2022	14/06/2021
General meeting	01/06/2026	02/06/2025	03/06/2024	07/06/2023	08/06/2022	09/06/2021
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

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	01/06/2026	23/06/2026	French	PDF
Micro model	31/12/2024	02/06/2025	25/06/2025	French	PDF
Micro model	31/12/2023	03/06/2024	07/06/2024	French	PDF
Micro model	31/12/2022	07/06/2023	14/06/2023	French	PDF
Micro model	31/12/2021	08/06/2022	10/06/2022	French	PDF
Micro model	31/12/2020	09/06/2021	14/06/2021	French	PDF
Micro model	31/12/2019	10/06/2020	15/06/2020	French	PDF
Abridged model	31/12/2018	11/06/2019	08/07/2019	French	PDF
Abridged model	31/12/2017	12/06/2018	20/06/2018	French	PDF
Abridged model	31/12/2016	13/06/2017	15/06/2017	French	PDF
Abridged model	31/12/2015	15/06/2016	08/07/2016	French	PDF
Abridged model	31/12/2014	16/06/2015	22/07/2015	French	PDF
Abridged model	31/12/2013	02/06/2014	10/07/2014	French	PDF
Abridged model	31/12/2012	03/06/2013	04/07/2013	French	PDF
Abridged model	31/12/2011	04/06/2012	12/07/2012	French	PDF
Abridged model	31/12/2010	06/06/2011	08/07/2011	French	PDF
Abridged model	31/12/2009	28/06/2010	11/08/2010	French	PDF
Abridged model	31/12/2008	17/06/2009	15/07/2009	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 · 1 active · 4 ended

Active mandates

Aydin Akay

Mandate

Active

Ended mandates

FIKRI AKAY

Mandate

Ended

FIKRI AKAY

Manager

Ended

SABRI AKAY

Mandate

Ended

SABRI AKAY

Manager · until 13 avril 2012

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/08/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates28/07/2025
DEMISSIONS, NOMINATIONS
PDF
Restructuring29/10/2021
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - MODIFICATION FORME JURIDIQUE - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...) - DIVERS
PDF
Restructuring24/08/2021
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring24/03/2021
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...) - DIVERS
PDF
Mandates23/03/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates12/04/2019
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Registered office07/06/2016
TRANSFERT DU SIEGE SOCIAL |
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 2025-21,9 k €↑
2024
Annual accounts 2024-69,3 k €↓
2023
Annual accounts 2023-52,3 k €↓
2022
Annual accounts 202273,1 k €↑
2021
Annual accounts 2021-4,3 k €↓
2020
Annual accounts 202077,1 k €↓
2019
Annual accounts 2019208,9 k €↓
2018
Annual accounts 2018343,3 k €↑
2017
Annual accounts 2017-34,1 k €↑
2016
Annual accounts 2016-73,4 k €↓
2015
Annual accounts 20157,8 k €↑
2014
Annual accounts 2014-45,2 k €↓
2013
Annual accounts 2013-39 k €↓
2012
Annual accounts 2012-16,1 k €↓
2011
Annual accounts 20112 k €↓
2010
Annual accounts 20105,7 k €↓
2009
Annual accounts 200916,1 k €↑
2008
Annual accounts 20085,8 k €
18/07/2007
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

IWARDO

Overview

What does IWARDO do?

Trend over 18 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