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 63 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
IBW from Oostkamp, company number BE0445991350, closed financial year 2025 with a result of € 910,190 after tax. For that financial year IBW recorded revenue of € 5.7 million and equity of € 78,045. Compared with financial year 2024, the result moved from € -1.2 million to € 910,190. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 9, 2026.
€ 78,045
▲ € 910,190 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 910,190
▲ still € 1.2 million loss in 2024
Profit after tax over the fiscal year.
€ 4,684
▼ 74% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -143,057.
People and assets in 2025
73.4
▲ 6.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 3.6 million
▲ 3% vs 2024
€ 49,600 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.
€ 705,203
▼ 27% vs 2024
Of which on lease € 675,643.
Debts at end 2025
€ 701,624
▼ 27% vs 2024
€ 267,336 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 399,466
▼ 46% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 55 days on average.
€ 1.2 million
▲ 72% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 6,159,101 | € 5,749,614 | € 4,900,407 | € 5,660,051 | ▲ 16% |
| Profit after taxes | € 208,282 | € -1,113,027 | € -1,195,275 | € 910,190 | ▲ € 2.1 million |
| Equity | € 1,495,039 | € 382,012 | € -832,145 | € 78,045 | ▲ € 910,190 |
| Total debts | € 2,633,640 | € 3,158,320 | € 3,178,694 | € 2,305,467 | ▼ 27% |
| Cash | € 509,189 | € 291,159 | € 17,787 | € 4,684 | ▼ 74% |
| Retained profit | € 1,255,055 | € 142,028 | € -1,053,247 | € -143,057 | ▲ € 910,190 |
| Bank debt | € 394,395 | € 1,364,222 | € 959,931 | € 701,624 | ▼ 27% |
| Balance sheet total | € 4,136,610 | € 3,548,263 | € 2,346,550 | € 2,383,512 | ▲ 2% |
| Employees (FTE) | 74.4 | 69.7 | 66.7 | 73.4 | ▲ 6.7 |
Key figures of IBW, 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 IBW?
What happened at IBW in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Slootenhof BV stepped down as director. NBB
- Rooselaer BV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 910,190. Source: NBB ↗
- Slootenhof BV became a director. NBB
- BCOME COMMV stepped down as director. NBB
- Bellehaert BV stepped down as director. NBB
- SCAOCX COMMV stepped down as director. NBB
- Rooselaer BV became a director. NBB
In short
From € 208,282 profit in 2022 to € 910,190 profit in 2025.
Paid € 5,709 in corporate taxes since 2022.
Best year ever: 2025, with € 910,190 profit.
Pays suppliers within 55 days on average.
Management
The stake of Graphius Group, BELLEHAERT comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
IBWThe shares are held by Graphius Group (90%) and BELLEHAERT (90%).
Directors
According to the 2025 annual accounts
Managing director · represented by Philippe Geers
Also active at: GRAPHIUS BRUSSELS, REMBRANDT INVEST, Graphius, DRUKKERIJ LOWYCK, FINITION, Bietlot, REMMICOM PACKAGING, ETIGLIA +4 more
since 2025 · until 2030
Managing director · represented by Patrick Van Belle
· until 2025
Director · represented by Patrick Van Belle
· until 2025
Managing director · represented by François van der Haert
· until 2025
Managing director · represented by Denis Geers
Also active at: GRAPHIUS BRUSSELS, REMBRANDT INVEST, Graphius, DRUKKERIJ LOWYCK, FINITION, Bietlot, REMMICOM PACKAGING, ETIGLIA +4 more
since 2025 · until 2030
Shareholders
90%
90%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Handelsstraat 21
8020 Oostkamp
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Self-hosted
Hosting
COMBELL-AS, BE
Website info
Features
Security
Network
Details
- Company number
- 0445.991.350
- VAT number
- BE 0445.991.350
- Registered office
- Handelsstraat 21, 8020 Oostkamp
- Names & denominations
- IBW
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1991
- Peppol
- Active · Active since 19 Jan 2026
- Contact
- ibwbinding.be
- Activities · NACE
Activiteiten van binderijen en aanverwante diensten
Prepress- en premediadiensten
Prepress-activiteiten