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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Negative equity NBB
More debt than assets in 1 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
INDUSTRIAL GLASS PROCESSING from Hoogstraten, company number BE0771543542, closed financial year 2025 with a result of € -1.3 million after tax. For that financial year INDUSTRIAL GLASS PROCESSING recorded revenue of € 11.9 million and equity of € -161,683. Compared with financial year 2024, the result moved from € -16,542 to € -1.3 million. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 26, 2026.
€ -161,683
▼ € 1.3 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.3 million
▼ 7662 % more loss than in 2024
Profit after tax over the fiscal year.
€ 173,951
▼ 43% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -263,233.
People and assets in 2025
23.3
▲ 0.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.4 million
▲ 2% vs 2024
€ 61,300 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.
€ 2.3 million
▲ 133% vs 2024
Of which on lease € 2.3 million.
Debts at end 2025
€ 3.6 million
▲ 67% vs 2024
€ 526,205 is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 2.6 million
▲ 94% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 201,857
▲ 34% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | € 11,580,329 | € 11,224,711 | € 11,888,525 | ▲ 6% |
| Gross margin | € 2,313,846 | € 2,837,380 | € 2,157,661 | € 1,467,180 | ▼ 32% |
| Profit after taxes | € 83,539 | € 761,835 | € -16,542 | € -1,284,019 | ▼ € 1.3 million |
| Equity | € 504,020 | € 1,185,856 | € 1,146,986 | € -161,683 | ▼ € 1.3 million |
| Total debts | € 3,408,455 | € 3,537,658 | € 4,088,256 | € 6,486,929 | ▲ 59% |
| Cash | € 544,115 | € 501,994 | € 306,682 | € 173,951 | ▼ 43% |
| Retained profit | € 439,020 | € 1,120,856 | € 1,020,786 | € -263,233 | ▼ € 1.3 million |
| Dividend | € 0 | € 80,000 | € 83,527 | € 0 | ▼ 100% |
| Bank debt | € 1,186,011 | € 806,882 | € 2,174,238 | € 3,639,987 | ▲ 67% |
| Balance sheet total | € 3,912,475 | € 4,723,514 | € 5,235,243 | € 6,325,247 | ▲ 21% |
| Employees (FTE) | 27.7 | 25.2 | 23.2 | 23.3 | ▲ 0.1 |
Key figures of INDUSTRIAL GLASS PROCESSING, 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 INDUSTRIAL GLASS PROCESSING?
What happened at INDUSTRIAL GLASS PROCESSING in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Jean-Marc Aubault stepped down as director. NBB
- Resiglass NV stepped down as director. NBB
- Sanbo BV stepped down as director. NBB
- Christine Riou stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 1.3 million. filed late Source: NBB ↗
- Jean-Marc Aubault became a director. NBB
- Resiglass NV became a director. NBB
- Sanbo BV became a director. NBB
In short
From € 83,539 profit in 2022 to € 1.3 million loss in 2025.
Paid € 3,214 in corporate taxes since 2022.
Best year ever: 2023, with € 761,835 profit.
On average € 63,000 of value added per employee in 2025.
Management
The stake of GLASS INVEST comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
INDUSTRIAL GLASS PROCESSINGThe shares are held by GLASS INVEST (100%).
Directors
According to the 2025 annual accounts
Managing director · represented by Geert De Landtsheer
Also active at: EUROGLAS - DE LANDTSHEER, JET - CAR, Flora World, ALSIC, SAFETYGLASS, IGP Immo, GLASS INVEST, GLASS TRANSPORT +8 more
since 2022 · until 2028
since 2026 · until 2029
since 2022 · until 2028
Managing director · represented by Frederik De Knijf
Also active at: EUROGLAS - DE LANDTSHEER, SAFETYGLASS, IGP Immo, Euroglas Immo, H² ESTATE, SAFETYGLASS IMMO, INTERNATIONAL GLASS FITTINGS EUROPE, Euroglas Villers
since 2023 · until 2029
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Riyadhstraat 28
2321 Hoogstraten
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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.
Details
- Company number
- 0771.543.542
- VAT number
- BE 0771.543.542
- Registered office
- Riyadhstraat 28, 2321 Hoogstraten
- Names & denominations
- INDUSTRIAL GLASS PROCESSING · IGP
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 19 July 2021
- Peppol
- Active · Active since 4 Nov 2025
- Activities · NACE
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