Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 2 of the last 3 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 20 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
21 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
InSky from Brussel, company number BE0793925204, closed financial year 2025 with a result of € -24 million after tax. Compared with financial year 2024, the result moved from € -13 million to € -24 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 August 28, 2026.
€ -35.1 million
▼ € 24 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -24 million
▼ 85 % more loss than in 2024
Profit after tax over the fiscal year.
€ 7,268
▼ 95% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -40.1 million.
People and assets in 2025
167.2
▲ 86.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 10.8 million
▲ 128% vs 2024
€ 64,800 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.
€ 4.5 million
▲ 16% vs 2024
Of which on lease € 1.9 million.
Debts at end 2025
€ 108.3 million
▲ € 105.6 million vs 2024
€ 509,452 is repaid this year. At this pace the long-term loan is gone in ≈ 212 years.
€ 18.1 million
▼ 9% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 432 days on average.
€ 2.6 million
▲ 178% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|
| Gross margin | € -2,588,590 | - | - | |
| Profit after taxes | € -3,075,406 | € -13,008,972 | € -24,026,814 | ▼ € 11 million |
| Equity | € 1,924,594 | € -11,084,378 | € -35,111,192 | ▼ € 24 million |
| Total debts | € 6,411,674 | € 83,813,137 | € 145,354,748 | ▲ 73% |
| Cash | € 19,281 | € 143,951 | € 7,268 | ▼ 95% |
| Retained profit | € -3,075,406 | € -16,084,378 | € -40,111,192 | ▼ € 24 million |
| Bank debt | € 0 | € 2,622,536 | € 108,256,481 | ▲ € 105.6 million |
| Balance sheet total | € 8,336,268 | € 72,728,759 | € 110,243,556 | ▲ 52% |
| Employees (FTE) | 6.7 | 80.5 | 167.2 | ▲ 86.7 |
Key figures of InSky, fiscal years 2023 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 InSky?
What happened at InSky in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Tovi BV stepped down as director. NBB
- Serghei Bulgac stepped down as director. NBB
- Valentin Popoviciu stepped down as director. NBB
- Florin Ungureanu stepped down as director. NBB
- Ghost Consulting BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 24 million. filed late Source: NBB ↗
- Tovi BV became a director. NBB
- ID & D stepped down as director. NBB
In short
From € 3.1 million loss in 2023 to € 24 million loss in 2025.
Paid € 17,098 in corporate taxes since 2023.
A new publication or filing at InSky? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by Digi Communications Belgium (100%).
Directors
According to the 2025 annual accounts
Director · represented by Tom Knaepen
Also active at: CEGEKA GROEP, CEGEKA HEALTH CARE, CITYMESH OPERATOR, Cegeka Holding, Citymesh Mobile, DIGI Communications Belgium, CITYMESH INTEGRATOR, CEGEKA +2 more
since 2025 · until 2027
since 2022 · until 2027
Director · represented by Stijn Bijnens
Also active at: CEGEKA BUSINESS SOLUTIONS BELGIE, CEGEKA GROEP, NSI IT Software & Services, CEGEKA HEALTH CARE, H. ESSERS, CITYMESH OPERATOR, KOLMONT HOLDING, Cegeka Holding +11 more
since 2022 · until 2025
Valentin Popoviciu
Managing director
Also active at: Citymesh Mobile, DIGI Communications Belgium, Citymesh Air
since 2022 · until 2027
since 2022 · until 2027
Director · represented by Mitch De Geest
Also active at: CITYMESH OPERATOR, Citymesh Flex, GREENFOX, Citymesh Mobile, EDPNET Belgium, DIGI Communications Belgium, QUEST COMPUTERS, Citymesh Air +2 more
since 2022 · until 2027
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Gasthuisstraat 31
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 21 companies are registered at this address.
All companies at this address →Comite Interprofessionnel pour l'Etude et la Defense de l'Elevage
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€ 217,785 gross margin · 2024
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COMPUTER FUTURES SOLUTIONS
€ 14.2 million revenue · 2025
+16 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0793.925.204
- VAT number
- BE 0793.925.204
- Registered office
- Gasthuisstraat 31, 1000 Brussel
- Names & denominations
- InSky
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 November 2022
- Peppol
- Active · Active since 19 Nov 2025
- Activities · NACE
Computerinfrastructuur, gegevensverwerking, hosting en aanverwante activiteiten
Draadgebonden en draadloze telecommunicatie en telecommunicatie via satelliet
Gegevensverwerking, webhosting en aanverwante activiteiten
Draadloze telecommunicatie
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overige diensten op het gebied van informatietechnologie en computer
Bouw van civieltechnische werken voor elektriciteit en telecommunicatie
Activiteiten op het gebied van computerconsultancy en beheer van computerfaciliteiten
+2