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 37 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
48 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
ISP1-RG from Brussel, company number BE0828165808, closed financial year 2025 with a result of € 956,542 after tax. For that financial year ISP1-RG recorded revenue of € 4.1 million and equity of € 858,850. Compared with financial year 2024, the result moved from € 652,908 to € 956,542. 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 May 18, 2026.
€ 858,850
▲ 41% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 956,542
▲ 47% vs 2024
Profit after tax over the fiscal year.
€ 982,629
▲ 27% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 706,542 paid out
74 % of the profit went to the shareholders, mostly to PMF Infrastructure Fund NV (80 % of the shares). That is where the money ends up.
People and assets in 2025
€ 3.6 million
▼ 35% vs 2024
Of which on lease € 3.6 million.
Debts at end 2025
€ 4.3 million
▼ 33% vs 2024
€ 2.3 million is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 117,210
▲ 75% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 72 days on average.
€ 11,841
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 6,158,590 | € 4,448,995 | € 3,779,305 | € 4,092,376 | ▲ 8% |
| Profit after taxes | € 2,018,622 | € 1,032,980 | € 652,908 | € 956,542 | ▲ 47% |
| Equity | € 608,850 | € 608,850 | € 608,850 | € 858,850 | ▲ 41% |
| Total debts | € 13,266,331 | € 10,276,307 | € 7,226,381 | € 5,181,991 | ▼ 28% |
| Cash | € 3,909,520 | € 2,783,637 | € 773,749 | € 982,629 | ▲ 27% |
| Retained profit | € 55,350 | € 55,350 | € 55,350 | € 305,350 | ▲ € 250,000 |
| Dividend | € 2,018,622 | € 1,032,980 | € 652,908 | € 706,542 | ▲ 8% |
| Bank debt | € 10,758,601 | € 8,816,768 | € 6,477,441 | € 4,335,725 | ▼ 33% |
| Balance sheet total | € 13,875,181 | € 10,885,157 | € 7,835,231 | € 6,040,841 | ▼ 23% |
Key figures of ISP1-RG, 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 ISP1-RG?
What happened at ISP1-RG in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 956,542 (▲ 47% vs 2024). Source: NBB ↗
- Pieter Hensen stepped down as director. NBB
- Tom Mortier stepped down as director. NBB
- Lucas van Rooijen stepped down as director. NBB
- Pieter Hensen became a director. NBB
- Lucas van Rooijen became a director. NBB
- Tom Mortier became a director. NBB
- New establishment in Brussel. KBO
In short
From € 2 million profit in 2022 to € 956,542 profit in 2025.
Paid € 1.6 million in corporate taxes since 2022.
Best year ever: 2022, with € 2 million profit.
Paid out € 4.4 million in dividends to the owners in total.
Management
The shares are held by PMF Infrastructure Fund NV (80%) and Radiance investments BV (20%).
Directors
According to the 2025 annual accounts
Pieter Hensen
Director
Also active at: Kenniscentrum Glastuinbouw, GREENI TOO, Storm Courrière, Storm Olen, STORM HOLDING 5, SolarPulse, Storm Wachtebeke, Storm Geraardsbergen
since 2021 · until 2026
Tom Mortier
Director
Also active at: Storm Meer 2, Local Energy Saving Solutions 1, STORM HOLDING 2, STORM HOLDING IERLAND, WATTSON, LOCAL ENERGY SAVING SOLUTIONS 2, GREENI TOO, LOCAL ENERGY SAVING SOLUTIONS 3 +7 more
since 2020 · until 2026
Lucas van Rooijen
Chairman of the board
Also active at: POSEIDON INFRASTRUCTURE, LIVAN INFRASTRUCTURE, EPICO Co-Investment Platform, SPV Gazometer, PMV E-II Invest, EPICo II, Via Noord Zuid Kempen
since 2021 · until 2026
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Oude Graanmarkt 63
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 48 companies are registered at this address.
All companies at this address →Moeve Chemicals Belgium
€ 1.3 million gross margin · 2025
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€ 686,591 gross margin · 2025
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€ 16.8 million revenue · 2025
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+43 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
- 0828.165.808
- VAT number
- BE 0828.165.808
- Registered office
- Oude Graanmarkt 63, 1000 Brussel
- Names & denominations
- ISP1-RG
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 27 July 2010
- Peppol
- Active · Active since 22 Oct 2025
- Activities · NACE
Productie van elektriciteit uit niet-hernieuwbare bronnen
Overige gespecialiseerde bouwactiviteiten, neg
Overige zakelijke dienstverlening, neg
Overige gespecialiseerde bouwwerkzaamheden