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.
-
Tight liquidity NBB
Cash and receivables cover 1 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
QBIC Feeder Fund from Gent, company number BE0846493561, closed financial year 2025 with a result of € -942,003 after tax. For that financial year QBIC Feeder Fund recorded a gross margin of € -41,392 and equity of € 7.3 million. Compared with financial year 2024, the result moved from € -4.1 million to € -942,003. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 1, 2026.
€ 7.3 million
▼ 11% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -942,003
▲ 77 % less loss than in 2024
Profit after tax over the fiscal year.
€ 8,019
▼ 99% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -8.3 million.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 13,345
▲ 26% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -74,947 | € -63,356 | € -40,873 | € -41,392 | ▼ € 520 |
| Profit after taxes | € -1,149,247 | € -656,430 | € -4,111,748 | € -942,003 | ▲ € 3.2 million |
| Equity | € 12,976,458 | € 12,320,027 | € 8,208,280 | € 7,266,276 | ▼ 11% |
| Total debts | € 55,022 | € 710,867 | € 1,043,566 | € 1,197,100 | ▲ 15% |
| Cash | € 625,881 | € 16,172 | € 597,572 | € 8,019 | ▼ 99% |
| Retained profit | € -2,619,017 | € -3,275,448 | € -7,387,195 | € -8,329,199 | ▼ € 942,003 |
| Balance sheet total | € 13,031,480 | € 13,030,894 | € 9,251,846 | € 8,463,376 | ▼ 9% |
Key figures of QBIC Feeder Fund, 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 QBIC Feeder Fund?
What happened at QBIC Feeder Fund in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- QBIC Venture Partners BV BV stepped down as director. NBB
- Jan Cornelis stepped down as director. NBB
- ING België NV NV stepped down as director. NBB
- Isabelle Cardinael stepped down as director. NBB
- Bnp Paribas Fortis Private Equity Belgium NV NV stepped down as director. NBB
- Jean-Pierre Timmermans stepped down as director. NBB
- Steven Coppens stepped down as director. NBB
- Rik Van de Walle stepped down as director. NBB
In short
From € 1.1 million loss in 2022 to € 942,003 loss in 2025.
Paid € 2,257 in corporate taxes since 2022.
Management
The stake of SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT, BNP PARIBAS FORTIS PRIVATE EQUITY BELGIUM, VLAAMSE INSTELLING VOOR TECHNOLOGISCH ONDERZOEK comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
QBIC Feeder FundThe shares are held by SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT (18.4%), BNP PARIBAS FORTIS PRIVATE EQUITY BELGIUM (14.7%) and VLAAMSE INSTELLING VOOR TECHNOLOGISCH ONDERZOEK (2.6%). It owns 50% of Qbic Arkiv Fund, 50% of Qbic Brussels Fund, 15.1% of Hysopt, 9.3% of Inbiose, 5.5% of Ubidata and 4.8% of Morrow itself.
Directors
According to the 2025 annual accounts
Managing director · represented by Zabeau Marc
Also active at: Morrow, OVIZIO IMAGING SYSTEMS, QBIC Arkiv Fund, QBIC Brussels Fund, UBIDATA
since 2024 · until 2026
since 2024 · until 2026
Director · represented by Soenen Bertrand
Also active at: United Brands Association, FPIM International - SFPI Internationaal - SFPIM International, Uitwisselingscentrum en verrekening, BEDRIJVENCENTRUM REGIO AALST, BEDRIJVENCENTRUM - VLAAMSE ARDENNEN, BEDRIJVENCENTRUM DE PUNT, ENTWICKLUNGS- UND BETEILIGUNGSGESELLSCHAFT OSTBELGIENS, FINANCIERE DU SUD - EST +26 more
since 2024 · until 2026
Isabelle Cardinael
Director
Also active at: GEMMA FRISIUS-FONDS KU LEUVEN, Zeopore Technologies, QBIC Arkiv Fund, QBIC Brussels Fund
since 2024 · until 2026
Bnp Paribas Fortis Private Equity Belgium NV NV
Director · represented by Terryn Patricia
Also active at: HET ANKER, Anima Research, STUDIO 100, PLOPSA, THEODORUS III, QBIC Arkiv Fund, QBIC Brussels Fund
since 2024 · until 2026
since 2024 · until 2026
since 2024 · until 2026
Rik Van de Walle
Director
since 2024 · until 2026
Federale Participatie & Investeringsmaatschappij
Director · represented by Ertveldt Goedele
Also active at: Aviapartner Belgium, Société Anonyme Belge de Constructions Aéronautiques, Société Nationale de Construction Aérospatiale, COMETSAMBRE, ASCO INDUSTRIES, ZEPHYR - FIN, Sabena Aerospace Engineering, reMYND +58 more
since 2024 · until 2026
Herman Verwilst
Director
since 2024 · until 2026
Shareholders
Participations
50%
15.1%
9.3%
5.5%
4.8%
2.2%
1.2%
0.2%
0.1%
Establishments
Establishment units
Physical locations of this company
Ottergemsesteenweg 808 box 328
9000 Gent
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 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
- 0846.493.561
- VAT number
- BE 0846.493.561
- Registered office
- Ottergemsesteenweg 808 bus 328, 9000 Gent
- Names & denominations
- QBIC Feeder Fund
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 23 May 2012
- Peppol
- Active · Active since 10 Dec 2025