Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Busy address KBO
43 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
IPM Group from Etterbeek, company number BE0403508716, closed financial year 2025 with a result of € -4.4 million after tax. For that financial year IPM Group recorded revenue of € 48.8 million and equity of € 3.1 million. Compared with financial year 2024, the result moved from € -2.7 million to € -4.4 million. The company made a loss. The buffer shrank hard: equity is 86 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 28, 2026.
€ 3.1 million
▼ 86% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -4.4 million
▼ 62 % more loss than in 2024
Profit after tax over the fiscal year.
€ 5.3 million
▲ 38% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 2.4 million.
People and assets in 2025
151.2
▲ 1.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 13.1 million
▲ 7% vs 2024
€ 86,800 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 33,586
▲ 31% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 8.5 million
▲ 36% vs 2024
Loans from banks and other lenders, long and short.
€ 8.7 million
▼ 18% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 73 days on average.
€ 2.6 million
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 57,920,636 | € 56,530,306 | € 52,459,142 | € 48,816,543 | ▼ 7% |
| Profit after taxes | € -3,544,364 | € 15,301,175 | € -2,733,505 | € -4,430,112 | ▼ € 1.7 million |
| Equity | € 23,419,850 | € 25,366,466 | € 22,549,036 | € 3,132,217 | ▼ 86% |
| Total debts | € 52,847,703 | € 39,917,294 | € 38,726,801 | € 32,488,986 | ▼ 16% |
| Cash | € 728,277 | € 709,616 | € 3,841,374 | € 5,291,540 | ▲ 38% |
| Retained profit | € 6,755,255 | € 22,056,430 | € 19,322,925 | € 2,390,622 | ▼ 88% |
| Bank debt | € 7,747,439 | € 5,538,923 | € 6,230,455 | € 8,451,422 | ▲ 36% |
| Balance sheet total | € 76,280,056 | € 65,296,263 | € 61,393,341 | € 35,621,203 | ▼ 42% |
| Employees (FTE) | 160.9 | 154.8 | 149.7 | 151.2 | ▲ 1.5 |
Key figures of IPM Group, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to IPM Group?
What happened at IPM Group in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- 51 Publications sas S. Etr. stepped down as director. NBB
- François le HODEY stepped down as director. NBB
- Philippe le Hodey stepped down as director. NBB
- Patrice le HODEY stepped down as director. NBB
- Marguerite le HODEY stepped down as director. NBB
- ACCES DIRECT SA stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 4.4 million. Source: NBB ↗
- 51 Publications sas S. Etr. became a director. NBB
In short
From € 3.5 million loss in 2022 to € 4.4 million loss in 2025.
Paid € 653,894 in corporate taxes since 2022.
Best year ever: 2023, with € 15.3 million profit.
Pays suppliers within 73 days on average.
Management
The stake of MAJA comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
IPM GroupThe shares are held by MAJA (100%). It owns 100% of Editions de l'Avenir Presse SRL, 100% of AXEMEDIA, 100% of L'Avenir Hebdo, 100% of M-SKILLS, 50% of DIRECT PRESSE and 25% of LAPRESSE.BE itself.
Directors
According to the 2025 annual accounts
51 Publications sas S. Etr.
Director · represented by Francis Morel
since 2025 · until 2031
François le HODEY
Managing director
Also active at: B en M, Axemédia, European Newspaper Publishers'Associatin - Association Européenne des Editeurs de Journaux, CONCEPT MULTEMEDIA BELGIUM, ASSOCIATION DES GRANDS VOYAGEURS- VERENIGING VOOR GROTE REIZIGERS, WORLD OF TRAVEL, M-SKILLS, CARACTERE +12 more
since 2025 · until 2031
Philippe le Hodey
Director
since 2025 · until 2031
Chairman of the board · represented by Pierre RION
Also active at: SOCIETE D'INVESTISSEMENT ET DE FINANCEMENT DU BRABANT WALLON, Lease.BW, B2START, E-HEALTH VENTURE, LES NEWS 24, Editions de l’Avenir Presse, MAXEL GROUPE, AKKANTO +3 more
since 2021 · until 2027
Patrice le HODEY
Vice-chairman of the board
Also active at: MOONKYS COMPANY, D.N.A., Axemédia, HYODE, DE ROUCK HOLDING, WantoTravel, SPORT GROUP DEVELOPMENT, BSCOVERY +4 more
since 2025 · until 2031
Marguerite le HODEY
Director
since 2023 · until 2029
Shareholders
100%
Participations
100%
100%
100%
50%
25%
21%
16.3%
Establishments
Establishment units
Physical locations of this company
Frankenstraat 79
1040 Etterbeek
Rue Neuve 4
7000 Mons
Active since 3 November 2010
Rue Edouard Belin 1
1435 Mont-Saint-Guibert
Active since 1 June 2016
Rue des Dominicains 24
4000 Liège
Active since 13 December 2017
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 43 companies are registered at this address.
All companies at this address →IPM Petite Ile
€ 2.9 million revenue · 2025
TRAVEL TEAM CONSULT and REPRESENTATIVE
€ 1 million gross margin · 2025
Axemédia same network
€ 1.5 million gross margin · 2025
MICRO - FM
€ 13,547 gross margin · 2025
CONCEPT MULTIMEDIA BELGIUM same network
€ 127,738 gross margin · 2025
+38 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
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Hosting & Email
Email provider
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Website info
Features
Security
Network
Details
- Company number
- 0403.508.716
- VAT number
- BE 0403.508.716
- Registered office
- Frankenstraat 79, 1040 Etterbeek
- Names & denominations
- IPM Group
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1968
- Peppol
- Active · Active since 3 Dec 2025
- Contact
- ipmgroup.be
- Activities · NACE
Activiteiten van hoofdkantoren
Managementactiviteiten van holdings
Uitgeven van tijdschriften
Publiciteitsagentschappen
Uitgeverijen van tijdschriften
Activiteiten van reisbureaus
Activiteiten van reclamebureaus
Reisbureaus