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 4 of the last 4 fiscal years.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 58 % of short-term debt in 2025; threshold 65 %.
-
Busy address KBO
39 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
IRR Multi Poly from Elsene, company number BE0838362783, closed financial year 2025 with a result of € -223,623 after tax. For that financial year IRR Multi Poly recorded revenue of € 189,456 and equity of € -1.1 million. Compared with financial year 2024, the result moved from € -194,245 to € -223,623. 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 July 22, 2026.
€ -1.1 million
▼ € 223,623 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -223,623
▼ 15 % more loss than in 2024
Profit after tax over the fiscal year.
€ 16,794
▲ 11% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.1 million.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
€ 3.7 million
▲ 6% vs 2024
€ 144,357 is repaid this year. At this pace the long-term loan is gone in ≈ 26 years.
€ 46,867
▼ 28% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 3,931
▲ 72% vs 2024
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 | € 250,712 | € 137,722 | € 217,815 | € 189,456 | ▼ 13% |
| Gross margin | € 130,958 | € 54,817 | € 95,557 | € 69,438 | ▼ 27% |
| Profit after taxes | € -141,339 | € -114,419 | € -194,245 | € -223,623 | ▼ € 29,377 |
| Equity | € -578,840 | € -693,259 | € -887,504 | € -1,111,127 | ▼ € 223,623 |
| Total debts | € 3,421,097 | € 3,417,483 | € 3,573,505 | € 3,768,603 | ▲ 5% |
| Cash | € 13,516 | € 38,876 | € 15,187 | € 16,794 | ▲ 11% |
| Land & buildings | € 2,493,073 | € 2,335,476 | € 2,274,761 | € 2,196,364 | ▼ 3% |
| Retained profit | € -597,440 | € -711,859 | € -906,104 | € -1,129,727 | ▼ € 223,623 |
| Bank debt | € 3,249,783 | € 3,340,871 | € 3,504,962 | € 3,708,033 | ▲ 6% |
| Balance sheet total | € 2,842,258 | € 2,724,224 | € 2,686,001 | € 2,657,476 | ▼ 1% |
Key figures of IRR Multi Poly, 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 IRR Multi Poly?
What happened at IRR Multi Poly in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 223,623. Source: NBB ↗
- Jean-Jacques MAKARIAN became a director. NBB
- Alexis François-Poncet became a director. NBB
- Xavier François Azan became a director. NBB
- François-Pierre HELLMANN became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Elsene. KBO
In short
From € 141,339 loss in 2022 to € 223,623 loss in 2025.
Management
Behind IRR Multi Poly are Xavier François Azan, François-Pierre HELLMANN, Alexis François-Poncet and Jean-Jacques MAKARIAN. The shares are held by TOP CO BELGIQUE SA (100%). It owns 100% of IMMOBILIERE ET ASSURANCES NIVELLOISES itself.
Directors
According to the 2025 annual accounts
Xavier François Azan
Director
since 2019
François-Pierre HELLMANN
Managing director
Also active at: LIMBURGSE VASTGOED ONTWIKKELINGEN, IMMOBILIERE ET ASSURANCES NIVELLOISES, AARSCHOT LOGISTICS, REDIVEST, WATERLUM, Top Log, LVO Holding, IMMO AC
since 2019
Alexis François-Poncet
Director
Also active at: LIMBURGSE VASTGOED ONTWIKKELINGEN, EUROPEAN TRANSPORTS LOGISTICS, IMMOBILIERE ET ASSURANCES NIVELLOISES, GOLDIE, PHILEOG Benelux, WATERLUM, Top Log, LVO Holding +1 more
since 2021
Jean-Jacques MAKARIAN
Director
Also active at: IMMOBILIERE ET ASSURANCES NIVELLOISES, Serris Reim Belgique, WATERLUM
since 2022
Shareholders
TOP CO BELGIQUE SA
100%
Participations
Establishments
Establishment units
Physical locations of this company
Louizalaan 380
1050 Elsene
Louizalaan 331
1050 Elsene
Active since 2 August 2011
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 39 companies are registered at this address.
All companies at this address →LIMBURGSE VASTGOED ONTWIKKELINGEN same network
€ 617,154 gross margin · 2025
Raoul Renaux et Compagnie
Union des Classes Moyennes National
€ 945 revenue · 2025
EUROPEAN TRANSPORTS LOGISTICS same network
€ 239,105 gross margin · 2025
Grosvenor Belgium
+34 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
- 0838.362.783
- VAT number
- BE 0838.362.783
- Registered office
- Louizalaan 380, 1050 Elsene
- Names & denominations
- IRR Multi Poly
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 5 August 2011
- Peppol
- Active · Active since 5 Jan 2026
- Contact
- [email protected] 0477643786
- Activities · NACE
Activiteiten van adviesbureaus op het gebied van public relations en communicatie
Adviesbureaus op het gebied van public relations en communicatie
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering