Equity
€5.4m from €15.1m in 2024
Equity fell by 64% in 1 year.
Indaver Plastics2Chemicals
Part of the group
35 companies in 12 countries
Lifetime
5 annual accounts with figures on one time axispeak -€4,245 (2021)
-€4.7m▼ €3.2m
lowest -€10.9m (2025)
-€10.9m▼ €5.3m
peak €15.1m (2024)
€5.4m▼ 64.2%
€87.8m▲ 51.0%
peak 36.5 FTE (2025)
36.5 FTE▲ 12.0%
Board90 names since 2020all names
6 directors and 5 others
Owners2 names in the annual accounts
100% and 1 other
Documentsfilings and deeds
27-04-202695 days before the deadline
2025abbreviated format
Gross margin from -€1.5m to -€4.7mLoss of €10.9mStaff from 32.6 FTE to 36.5 FTEAppointment: (program manager p2c) 22-073 directors appointed 25-03Appointment: (additional director) 22-01
Key points
from the 2025 annual accountsLosses
-€22.2m in five years
Every financial year from 2021 to 2025 closed with a loss. 2025 was the heaviest.
Debts
€87.8m 94% of the balance sheet
Financial debts 55%Suppliers 6%Taxes and wages 1%Other 38%
Of this, €30.7m falls due within a year.
Investments
€18.0m 8.0 × depreciation
Green is investment, beige is depreciation.
Staff
39 employees on 31-12-2025
In 2025, 12 people joined and 9 left.
Position in the sector
-€10.9m
Lower net result than 95% of companies in waste collection and treatment. Sector median €51,649 · 314 companies.
Turnover not published (abbreviated format)
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 448 companies had the same profile as Indaver Plastics2Chemicals has now. Each dot is one company, two years later.
87.3%
were still trading
5.4%
stopped another way
6.5%
went bankrupt
Another 0.9% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,331 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 448 companies, not a prediction for Indaver Plastics2Chemicals. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
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Signals
Board and ownership
CEO
Director, , since 29-06-2021
Director
Director
Director, , since 01-07-2024
Auditor,
- 100%equity €1.22bn (2025) · annual accounts 2025
- consolidatesannual accounts 2025
Recent changes
Resignations & appointments
Director in office: (general manager bl iws) · Director in office: (general manager bl msws global) · Director in office: (general manager bl msws regio belgië) · Board meeting of 11-02-2026 · Gazette deed
Appointment: (program manager p2c)
Board meeting of 29-04-2025 · Gazette deed
3 directors appointed
, and · Permanent representatives: , , , and · Board meeting of 22-01-2025 · Gazette deed
Appointment: (additional director)
Permanent representative: · General meeting of 03-12-2024 · Gazette deed
Comparable companies
same main activity, the nearest in size| Company | ||||
|---|---|---|---|---|
| Indaver Plastics2Chemicals Antwerp | - | - | 5.8% | 36.5 |
| SYNPET Ixelles | €0.006m | - | 70.9% | 2 |
| FKL Beveren | €26.0m | 8.5% | 25.6% | 24.4 |
| TOP-MIX RECYCLING Ostend | - | - | -176.3% | 3 |
| VALODIRECT Zwalm | €18.5m | 11.9% | 43.8% | 5.4 |
| BioFertiCol Lubbeek | - | - | -38.4% | 0 |
| VALTRIS Charleroi | €16.2m | 1.1% | 2.0% | - |
These companies have the same main activity as Indaver Plastics2Chemicals: waste collection, recovery and disposal activities (NACE 38330). They are smaller than Indaver Plastics2Chemicals: total assets between €10m and €34m, founded between 2012 and 2023.
Official details
Source: KBO- Status
- Active since 29-06-2021Normal situation
- Activity
- Waste collection, recovery and disposal activitiesNACE 38330
- Joint committee
- 207White-collar workers in the chemical industry · annual accounts 2025
- Establishment units
- 2.318.928.1242030 Antwerp, since 29-06-2021
- 2.365.343.5152030 Antwerp, since 14-10-2024
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- €93.2m▲ 27.2%
- Employeeson 31-12-2025
- 39▲ 8.3%
- Filing
- Filed on 27-04-2026, 95 days before the end of the filing period
Insights on Indaver Plastics2Chemicals
Indaver Plastics2Chemicals files the abbreviated format. That format states no turnover. The gross margin fell from -€4,245 in 2021 to -€4.7m in 2025.
The balance sheet grew most from 2023 to 2025 through fixed assets.
holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Indaver Plastics2Chemicals
- What is the company number of Indaver Plastics2Chemicals?
- The company number of Indaver Plastics2Chemicals is 0770.489.311. The VAT number is the same number with BE in front: BE 0770.489.311.
- Where is Indaver Plastics2Chemicals based?
- The registered office is at Poldervlietweg 5, 2030 Antwerp.Company details
- What does Indaver Plastics2Chemicals do?
- According to the KBO register, the main activity is waste collection, recovery and disposal activities (NACE 38330).
- What is the legal form of Indaver Plastics2Chemicals?
- Indaver Plastics2Chemicals is a public limited company (NV).
- When was Indaver Plastics2Chemicals founded?
- Indaver Plastics2Chemicals was founded on 29-06-2021.
- Is Indaver Plastics2Chemicals still active?
- Yes, Indaver Plastics2Chemicals is an active enterprise in the KBO register.
- How many employees does Indaver Plastics2Chemicals have?
- Indaver Plastics2Chemicals had an average of 36.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Indaver Plastics2Chemicals fall under?
- In its 2025 annual accounts, Indaver Plastics2Chemicals states joint committee 207 (White-collar workers in the chemical industry).
- What is the turnover of Indaver Plastics2Chemicals?
- The annual accounts for financial year 2025 state no turnover. The abbreviated format does not require it.
- Is Indaver Plastics2Chemicals profitable?
- In financial year 2025, Indaver Plastics2Chemicals made a loss of €10.9m.
- Where can I find the annual accounts of Indaver Plastics2Chemicals?
- Indaver Plastics2Chemicals filed 5 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Indaver Plastics2Chemicals due?
- Indaver Plastics2Chemicals must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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