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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Tight liquidity NBB
Cash and receivables cover 9 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
IKEA BELGIUM from Zaventem, company number BE0425258688, closed financial year 2025 with a result of € 72.9 million after tax. For that financial year IKEA BELGIUM recorded revenue of € 1.1 billion and equity of € 27 million. Compared with financial year 2024, the result moved from € 79.7 million to € 72.9 million. The company is profitable. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on November 19, 2025.
€ 27 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 72.9 million
▼ 8% vs 2024
Profit after tax over the fiscal year.
€ 17.2 million
▲ 25% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 73 million paid out
100 % of the profit went to the shareholders, mostly to INGKA HOLDING EUROPE BV (100 % of the shares). That is where the money ends up.
People and assets in 2025
3,338.7
▲ 68.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 228.1 million
▲ 7% vs 2024
€ 68,300 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.
€ 6.6 million
▼ 1% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 26.9 million
▼ 11% vs 2024
€ 3.4 million is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 99.4 million
▲ 7% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 44 days on average.
€ 91.1 million
▼ 1% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 1,008,000,799 | € 1,176,688,151 | € 1,164,597,728 | € 1,148,344,160 | ▼ 1% |
| Profit after taxes | € 45,168,021 | € 81,508,081 | € 79,656,061 | € 72,939,994 | ▼ 8% |
| Equity | € 26,958,261 | € 26,966,342 | € 26,972,403 | € 26,962,398 | |
| Total debts | € 252,126,728 | € 313,516,414 | € 296,011,595 | € 296,854,496 | |
| Cash | € 6,388,586 | € 5,890,273 | € 13,710,696 | € 17,160,047 | ▲ 25% |
| Land & buildings | € 150,509,924 | € 142,058,350 | € 133,141,434 | € 121,586,145 | ▼ 9% |
| Retained profit | € 2,457,873 | € 2,465,954 | € 2,472,015 | € 2,462,009 | |
| Dividend | € 45,170,000 | € 81,500,000 | € 79,650,000 | € 72,950,000 | ▼ 8% |
| Bank debt | € 36,891,667 | € 33,533,333 | € 30,275,000 | € 26,941,667 | ▼ 11% |
| Balance sheet total | € 282,176,874 | € 343,781,017 | € 325,972,946 | € 326,362,972 | |
| Employees (FTE) | 3,319.7 | 3,232.8 | 3,269.8 | 3,338.7 | ▲ 68.9 |
Key figures of IKEA BELGIUM, 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 March 2027.
What happened to IKEA BELGIUM?
What happened at IKEA BELGIUM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 72.9 million (▼ 8% vs 2024). Source: NBB ↗
- Stefan Vanoverbeke stepped down as director. NBB
- Valentina Cirell stepped down as director. NBB
- Maria Nilsson Karnell stepped down as director. NBB
- Valentina Cirell became a director. NBB
- Martina Parker-Norton stepped down as director. NBB
- Stefan Vanoverbeke became a director. NBB
- Martina Parker-Norton became a director. NBB
In short
From € 45.2 million profit in 2022 to € 72.9 million profit in 2025.
Paid € 98.6 million in corporate taxes since 2022.
Best year ever: 2023, with € 81.5 million profit.
Paid out € 279.3 million in dividends to the owners in total.
Management
The shares are held by INGKA HOLDING EUROPE BV (100%) and INGKA PRO HOLDING BV (0%).
Directors
According to the 2025 annual accounts
Stefan Vanoverbeke
Lid van toezichtsraad
since 2024 · until 2025
Valentina Cirell
Lid van toezichtsraad
since 2025 · until 2025
Martina Parker-Norton
Lid van toezichtsraad
since 2023 · until 2025
Maria Nilsson Karnell
Lid van toezichtsraad
since 2023 · until 2025
Shareholders
INGKA HOLDING EUROPE BV
100%
INGKA PRO HOLDING BV
0%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Weiveldlaan 19
1930 Zaventem
Boomsesteenweg 755
2610 Antwerpen
Active since 1 March 1985
Porte de Liège 7
4342 Awans
Active since 1 March 1985
Bergense Steenweg 1432
1070 Anderlecht
Active since 7 December 2005
Sterpenich, rue de Grass 100
6700 Arlon
Active since 7 December 2005
Maaltekouter 2
9051 Gent
Active since 1 July 2008
Place des Grands Prés 1 box A
7000 Mons
Active since 1 August 2015
Biezenstraat 45
3500 Hasselt
Active since 1 August 2015
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0425.258.688
- VAT number
- BE 0425.258.688
- Registered office
- Weiveldlaan 19, 1930 Zaventem
- Names & denominations
- IKEA BELGIUM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 December 1983
- Peppol
- Active · Active since 8 Oct 2025
- Activities · NACE
Detailhandel in huismeubilair
Detailhandel in meubels
Detailhandel in huismeubilair in gespecialiseerde winkels
Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden
Eetgelegenheden met beperkte bediening