Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Figures corrected NBB
Corrected annual account filed for 2024.
-
Busy address KBO
14 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
IPCOM from Merelbeke-Melle, company number BE0827868868, closed financial year 2025 with a result of € -10.8 million after tax. For that financial year IPCOM recorded revenue of € 9.4 million and equity of € 86.4 million. Compared with financial year 2024, the result moved from € -7.3 million to € -10.8 million. The company made a loss. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 10, 2026.
€ 86.4 million
▲ 29% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -10.8 million
▼ 47 % more loss than in 2024
Profit after tax over the fiscal year.
€ 27 million
▲ 139% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 6.5 million.
People and assets in 2025
18.6
▲ 4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2.2 million
▲ 38% vs 2024
€ 117,400 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.
€ 42,044
▲ 9% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 300.2 million
▲ 48% vs 2024
€ 10 million is repaid this year. At this pace the long-term loan is gone in ≈ 30 years.
€ 4 million
▲ 99% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 123 days on average.
€ 609,970
▲ 48% vs 2024
Taxes, VAT and social contributions still to pay.
Want to see how much further we take a dossier in the Pro version? Open the free De Lijn example and give feedback →
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 7,798,783 | € 6,199,967 | € 6,834,146 | € 9,359,890 | ▲ 37% |
| Profit after taxes | € 3,039,311 | € -3,512,440 | € -7,319,970 | € -10,770,117 | ▼ € 3.5 million |
| Equity | € 67,906,611 | € 64,394,171 | € 66,936,701 | € 86,361,584 | ▲ 29% |
| Total debts | € 116,534,958 | € 139,675,013 | € 262,441,818 | € 401,174,092 | ▲ 53% |
| Cash | € 6,637,315 | € 7,369,054 | € 11,283,494 | € 26,985,255 | ▲ 139% |
| Retained profit | € 28,141,706 | € 24,629,266 | € 17,309,296 | € 6,539,179 | ▼ 62% |
| Bank debt | € 87,696,268 | € 99,528,613 | € 202,929,264 | € 300,214,181 | ▲ 48% |
| Balance sheet total | € 184,441,569 | € 204,069,184 | € 329,378,519 | € 487,535,677 | ▲ 48% |
| Employees (FTE) | 12.4 | 14.3 | 14.6 | 18.6 | ▲ 4 |
Key figures of IPCOM, 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 IPCOM?
What happened at IPCOM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- BTX Consult BV stepped down as director. NBB
- LDB Consulting BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 10.8 million. Source: NBB ↗
- BTX Consult BV became a director. NBB
- LDB Consulting BV became a director. NBB
- New establishment in Merelbeke-Melle. KBO
- Start of the company according to the CBE. KBO
In short
From € 3 million profit in 2022 to € 10.8 million loss in 2025.
Paid € 11,828 in corporate taxes since 2022.
Best year ever: 2022, with € 3 million profit.
Pays suppliers within 123 days on average.
A new publication or filing at IPCOM? We notify you, reason included.
Follow IPCOMDatabakkes Pro
Know what changes at your customers, suppliers and competitors. Without reading an annual account.
- Follow them in one folder Every company in your folder gets this full dossier: household book, all fiscal years, benchmark against companies of the same size.
- We alert you, with the reason New annual account, Official Gazette publication or status change: you get what changed and where it says so.
- In bulk too, and in ChatGPT and Claude Upload your customer list and get the warning signs back per company. Or ask in your own AI assistant, with this register as the source.
Databakkes Pro is being built. Sign up now and you are first in line for an invitation, with a month to try without a credit card.
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 stake of Isolstar Holding comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
IPCOMThe shares are held by Isolstar Holding (100%). It owns 100% of Insulcon Gaskets & Insulation Venice, 100% of Weiss Isolering A/S, 100% of Technicas BV, 100% of Ipcom France SAS, 100% of IPCOM Deutschland and 100% of IPCOM United Kingdom Limited itself.
Directors
According to the 2025 annual accounts
Director · represented by Remco Boerefijn
Also active at: ISOBUILD KORTEMARK, VERMEERSCH LOGISTICS, Isolstar Holding, Green Leaf Topco, ISOLTEAM
since 2022 · until 2028
Director · represented by Luc De Busscher
Also active at: CAREMISO, TECHNICAS, INSULCON N.V., ISOBUILD KORTEMARK, ISOBUILD HOBOKEN, VERMEERSCH LOGISTICS, Isolstar Holding, Green Leaf Topco +5 more
since 2022 · until 2028
Shareholders
100%
Participations
Insulcon Gaskets & Insulation Venice
100%
Weiss Isolering A/S
100%
100%
Ipcom France SAS
100%
IPCOM Deutschland
100%
IPCOM United Kingdom Limited
100%
Skanacid A/S
100%
Flexicel Portugal - Unipessoal Lda
100%
IPCOM Nederland
100%
Ipcom Insulation Solutions España,
100%
100%
IPCOM Italia Srl
100%
Establishments
Establishment units
Physical locations of this company
Brusselsesteenweg 94 box 201
9090 Merelbeke-Melle
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 14 companies are registered at this address.
All companies at this address →Isolstar Holding same network
Rootputte Invest
Rootputte
€ 275,389 revenue · 2025
VERENIGING VAN MEDE-EIGENAARS VAN HET KANTOORGEBOUW BRUSSELSESTEENWEG 94 TE 9090 MELLE.
Green Leaf Topco same network
€ 2.2 million revenue · 2025
+9 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
- 0827.868.868
- VAT number
- BE 0827.868.868
- Registered office
- Brusselsesteenweg 94 bus 201, 9090 Merelbeke-Melle
- Names & denominations
- IPCOM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 13 July 2010
- Peppol
- Active · Active since 16 Dec 2025
- Activities · NACE
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering
Activiteiten van holdings
Holdings