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ICO WINDPARK

Active
Public limited companyfounded 2019active for 7 yearsMargareta van Oostenrijkstraat 1, 8380 Brugge, BelgiumKBO/BCE: BE 0725.933.548
Summary

ICO WINDPARK has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.3m and a net result of €2.0m. Equity is growing by about 68% per year across the filed financial years. Its solvency ranks better than 35% of 344 sector peers (NACE 35, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Overview

Activity
Production of electricity from non-renewable sources
NACE 35110
1 site
Size
€46.6mtotal assets 2025
Equity
€8.3m
Profit
€2.0m
Turnover not published (abbreviated format)
Financial health
96 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.1%
Structure
Parent
ENGIE
Board
9 members
Auditor: Joachim HoebeeckAccounts 72 days early
Why 96raises riskFounded in 2019lowers riskSize: total assets €46.6mFigures for financial year 2025 (filed 22-05-2026)Sector: Electricity, gas, steam and air conditioning supply (NACE 35)Show the evidence

Checked score

Score 2025
96 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 67% of its sector peers (NACE 35, large)
Financial strength · tick = 2024
Average
Solvency 43+4
equity 17.9% of total assets
Liquidity 60-1
short-term debt 12.1% · cash 9.1%
Profitability 74+3
return on assets 4.3%
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (54 companies, NACE 35, large)
Last 24 months 11-2024: 0.1% 12-2024: 0.1%● unchanged vs 11-2024 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.1%● unchanged vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026highest value 06-2026: 0.1%● unchanged vs 05-2026lowest value 07-2026: 0.1%● unchanged vs 06-2026lowest value 08-2026: 0.1%● unchanged vs 07-2026lowest value 09-2026: 0.1%● unchanged vs 08-2026lowest value 10-2026: 0.1%● unchanged vs 09-2026lowest value
Credit of up to €750,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.06, compared with 1.74 in 2024, below the usual 1.5; short-term debt: 12.1% and cash: 9.1% of total assets), and 82.1% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 35, large): better than 44% on solvency, 89% on liquidity, 61% on profitability and 74% on growth.

The bankruptcy probability was computed on 12-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises riskneutral
lowers risk · Size: total assets €46.6m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
lowers risk · Figures for financial year 2025 (filed 22-05-2026)
NBB · annual accounts
raises risk · Founded in 2019
Companies of this age fail more often than older ones; how much that weighs depends on the rest of its profile.
KBO
lowers risk · Sector: Electricity, gas, steam and air conditioning supply (NACE 35)
KBO
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-05-2026, 72 days ahead of the deadline.
NBB · 7 filings
Deviation from the deadline
2025
72 days early
2024
69 days early
2023
77 days early
2022
69 days early
2021
48 days early
2020
67 days early
2019
31 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 62 days before the deadline; the sector median (NACE 35) for financial year 2024 is 22 days before the deadline, and 27% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 23 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
13-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Appointment: Geert Dhooghe (director)Resignation: Ann Naessens (director)
  2. Annual accounts filedfinancial year 2025 · abbreviated…
  3. Resignation: Ann Naessens (director)Appointment: Geert Dhooghe (director) ·…

Key points

  • Positive: Result rose in 2025from €1.1m to €2.0m ▲ 73.8% View
  • Positive: Among the best 5% on net resultsector median €18,489 · 344 companies €2.0m View
  • Controlled by ENGIEknown shareholders 100% parent View
  • Positive: Always filed on timeaccounts within the deadline every year 7 years View
  • Board changedlatest change 27-08-2026 · 9 in office 1 joined · 1 left View

By topic

Financials

Financial year
2025
Total assets
€46.6m
Profit
€2.0m
Solvency
17.9%
Total assets▼ 13.5%
Net result
20192025
Go to Financials

Board & ownership

Board
9 members
Parent
ENGIE
Known shareholders
100%
Auditor
Joachim Hoebeeck
  • ADRIANSENS Marc Karel LeonChair
  • Didier Van OsselaerDirector
  • GUILLEMYN Alain Gerard MarioDirector
  • Katrien VergauwenDirector
  • Lionel MatthysenDirector

and 4 other directors

Go to Board & ownership

Timeline

Events
31
Since
2019
Next accounts
by 31-07-2027
  1. 09-10-2025Resignation: Carl Hagman (director)
  2. 30-05-2025Resignations: Marc Adriaensens, Alain Guillemyn and 7…
  3. 23-05-2025Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Production of electricity from non-renewable sourcesNACE 35110
Founded
30-04-2019
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
3
Purpose
“Het realiseren, beheren, onderhouden en exploiteren van een on-shore energieproject in de…” (deed in Dutch)
Go to Articles of association

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