Indaver Plastics Recycling

Active

Public limited companyfounded 2019active for 6 yearsBoomsesteenweg 199, 2830 Willebroek, BelgiumKBO/BCE: BE 0740.624.197

Summary

Indaver Plastics Recycling has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €91.1m and a net result of €3.1m. Equity is growing by about 21% per year across the filed financial years. Its solvency ranks better than 90% of 279 sector peers (NACE 38, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (low).

Risk analysisFollow Report Compare

Indaver Plastics RecyclingActiveChecked score 85/100

Risk analysis Report Compare

Activity

Materials recovery from waste

NACE 38210Waste collection, recovery and disposal activities NACE 38330

Largest company by total assets in the province of Antwerp, Waste collection and treatment sector2 sites

Size

€33.2mturnover 2025

Staff: 106.4 FTE
Equity: €91.1m
Profit: €3.1m

Financial health

85 Excellent Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.5%

Structure

Parent: INDAVER · 100%
Board: 7 members

Paul De BruyckerCEO

Auditor: Ernst et Young Reviseurs d'Entreprises2025 accounts 95 days early8 of 13 deeds summarised

Why 85raises riskLiquidity: current ratio 2.98, cash €94Founded in 2019Sector: Waste collection, recovery and disposal activities (NACE 38)lowers riskSize: turnover €33.2m, 106.4 FTE, total assets €116.9mShow the evidence

Checked score

Score 2025

85 / 100

Excellent

Probability in this band: under 0.55%

Financially better than 78% of its sector peers (NACE 38, medium-sized)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Strong

Solvency 100=

equity 77.9% of total assets

Liquidity 50=

short-term debt 4.9% · cash 0.0%

Profitability 81-4

return on assets 2.6%

Bankruptcy probability, 12 months

0.5% Low

0%0.5%1.5%4%10%≥ 25%

About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (47 companies, NACE 38, medium-sized)

Last 24 months 11-2024: 0.6% 12-2024: 0.6%● unchanged vs 11-2024 01-2025: 0.6%● unchanged vs 12-2024 02-2025: 0.6%● unchanged vs 01-2025 03-2025: 0.6%● unchanged vs 02-2025 04-2025: 0.6%● unchanged vs 03-2025highest value 05-2025: 0.6%● unchanged vs 04-2025 06-2025: 0.6%● unchanged vs 05-2025 07-2025: 0.6%● unchanged vs 06-2025 08-2025: 0.6%● unchanged vs 07-2025 09-2025: 0.6%● unchanged vs 08-2025 10-2025: 0.6%● unchanged vs 09-2025 11-2025: 0.6%● unchanged vs 10-2025 12-2025: 0.6%● unchanged vs 11-2025 01-2026: 0.6%● unchanged vs 12-2025 02-2026: 0.6%● unchanged vs 01-2026 03-2026: 0.6%● unchanged vs 02-2026 04-2026: 0.6%● unchanged vs 03-2026 05-2026: 0.6%● unchanged vs 04-2026 06-2026: 0.5%▼ -0.1 percentage points vs 05-2026lowest value 07-2026: 0.5%● unchanged vs 06-2026lowest value 08-2026: 0.5%● unchanged vs 07-2026lowest value 09-2026: 0.5%● unchanged vs 08-2026lowest value 10-2026: 0.5%● unchanged vs 09-2026

Credit of up to €3,300,000 on 30-day terms is acceptable

Liquidity ample (current ratio 2.98, compared with 1.37 in 2024, above the usual 1.5; short-term debt: 4.9% and cash: 0% of total assets), and 22.1% 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 38, medium-sized): better than 97% on solvency, 66% on liquidity, 81% on profitability and 69% on growth.

The bankruptcy probability was computed on 28-10-2026 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

Liquidity: current ratio 2.98, cash €94

NBB · annual accounts

Size: turnover €33.2m, 106.4 FTE, total assets €116.9m

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

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

Sector: Waste collection, recovery and disposal activities (NACE 38)

KBO

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-04-2026, 95 days ahead of the deadline.

NBB · 6 filings

Deviation from the deadline

2025

95 days early

2024

98 days early

2023

29 days early

2022

126 days early

2021

111 days early

2020

107 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 94 days before the deadline; the sector median (NACE 38) for financial year 2024 is 8 days before the deadline, and 32% of those companies filed late.

Searched, nothing found (2)

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 24 April (4 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

29-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

11-05-2026 Reappointment: EY Bedrijfsrevisoren BV (statutory auditor)Gazette deed
27-04-2026 Annual accounts filedfinancial year 2025 · full…
06-03-2026 Resignation: Rob Kruitwagen (director)Appointments: AVELIN BV, ENTRA MOBILE…

Key points

Positive: Largest company by total assets in the province of Antwerp, Waste collection…in the Checked rankings No. 1 View
Caution: Result fell in 2025from €7.4m to €3.1m ▼ 58.7% View
Board changedlatest change 06-03-2026 · 7 in office 2 joined · 2 left View
Positive: 5 years of growth in a rowturnover 2025: €33.2m 5 years View
Controlled by INDAVERultimately: Katoen Natie Group SA 100% View
Positive: Always filed on timeaccounts within the deadline every year 6 years View

By topic

Financials

Financial year: 2025
Turnover: €33.2m
Profit: €3.1m
Solvency: 77.9%

Turnover▲ 15.5%

Net result

20202025

Go to Financials

Board & ownership

Board: 7 members
Parent: INDAVER · 100%
Auditor: Ernst et Young Reviseurs…

Avelin BVDirector
ENTRA MOBILE BVDirector
SCHOONJANS KristienDirector
VAN DRIESSEN AnnickDirector
Tsundoku Ventures BVDirector

and 2 other directors

Go to Board & ownership

Network & group

Group: Katoen Natie Group SA
Connected companies: 11
Mergers and asset contributions: 1

Go to Network & group

Timeline

Events: 20
Since: 2021
Next accounts: by 31-07-2027

31-12-2025Liquidity more than doubled
21-11-2025Resignation: Alexander Bom (director)
16-05-2025Resignations: Alain Konings (director) and Rob Kruitwagen…

Go to Timeline

Company details

Sites: 2

Legal form: Public limited company
Activity: Materials recovery from wasteNACE 38210
Founded: 31-12-2019
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 31

See the provisions in the deeds

Go to Articles of association

Key facts about Indaver Plastics Recycling

What is the company number of Indaver Plastics Recycling?: 0740.624.197. In Belgium the VAT number is the company number with BE in front: BE 0740.624.197.
Where is Indaver Plastics Recycling based?: The registered office is at Boomsesteenweg 199, 2830 Willebroek.Company details
What does Indaver Plastics Recycling do?: According to the KBO register, the main activity is materials recovery from waste (NACE 38210).
What is the legal form of Indaver Plastics Recycling?: Public limited company (NV).
When was Indaver Plastics Recycling founded?: On 31-12-2019.
Is Indaver Plastics Recycling still active?: Yes, Indaver Plastics Recycling is an active enterprise in the KBO register.
How many employees does Indaver Plastics Recycling have?: On average 106.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of Indaver Plastics Recycling?: €33.2m in financial year 2025, according to the filed annual accounts.
Is Indaver Plastics Recycling profitable?: In financial year 2025, Indaver Plastics Recycling made a profit of €3.1m.
Where can I find the annual accounts of Indaver Plastics Recycling?: Indaver Plastics Recycling filed 6 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of Indaver Plastics Recycling due?: By 31-07-2027, for financial year 2026.Timeline