INNOPA
ActiveSummary
INNOPA has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.9m and a net result of -€83,961. Equity is growing by about 5.1% per year across the filed financial years. Its solvency ranks better than 80% of 510 sector peers (NACE 93, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Financials · financial year 2025, full format, standalone accounts
In the rankings
#3 company by equity in Leuven, Arts, sports and recreation sector#5 employer in Leuven, Arts, sports and recreation sector#6 company by total assets in Leuven, Arts, sports and recreation sector
2025 annual accounts filed late (40 days) Filed on 9 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00509293.
Turnover
€4.7m▲ 8.5%
2024 · €4.3m
EBIT margin
0.1%▼ 3.4pp
2024 · 3.5%
Net result
-€83,961
2024 · €40,656
Working capital
-€753,498▼ 66.3%
2024 · -€453,112
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen three years in a row; 2025 is 98% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€4.7m
2025
Operating result€0.004m
2025
Net result-€0.08m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€5.5m
2025
Equity€3.9m
2025
Debt€1.6m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.8m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin0.1%
2025
Return on assets (ROA)-1.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency71.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.46
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)27.8
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 93, Sports, amusement and recreation activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€2.7m-€3.2m▲ 19.3%€3.0m▼ 5.6%€3.3m▲ 8.0%€4.2m▲ 29.6%€4.4m▲ 2.5%€4.3m▼ 1.0%€4.7m▲ 8.5%
Operating result€0.3m-€0.5m▲ 46.3%€0.3m▼ 43.8%€0.1m▼ 46.3%€0.8m▲ 484%€0.3m▼ 60.9%€0.2m▼ 54.5%€0.004m▼ 97.6%
Net result€0.2m-€0.3m▲ 64.2%€0.1mabove the sector's middle half▼ 55.8%€0.03mwithin the sector's middle half▼ 79.3%€0.6mabove the sector's middle half▲ 22×€0.2mabove the sector's middle half▼ 68.8%€0.04mwithin the sector's middle half▼ 76.6%-€0.08mbelow the sector's middle half
EBIT margin12.2%-14.9%▲ 2.8pp8.9%▼ 6.1pp4.4%▼ 4.5pp19.9%▲ 15.5pp7.6%▼ 12.3pp3.5%▼ 4.1pp0.1%▼ 3.4pp
Equity€2.8m-€3.1m▲ 9.7%€3.2mabove the sector's middle half▲ 3.9%€3.2mabove the sector's middle half▲ 0.8%€3.8mabove the sector's middle half▲ 17.2%€4.0mabove the sector's middle half▲ 4.6%€4.0mabove the sector's middle half▲ 1.0%€3.9mabove the sector's middle half▼ 2.1%
Total assets€5.3m-€5.7m▲ 6.1%€5.6mabove the sector's middle half▼ 1.0%€5.3mabove the sector's middle half▼ 5.0%€5.8mabove the sector's middle half▲ 9.8%€5.9mabove the sector's middle half▲ 1.8%€5.5mabove the sector's middle half▼ 7.7%€5.5mwithin the sector's middle half▲ 0.4%
Debt€2.5m-€2.6m▲ 2.1%€2.4m▼ 6.9%€2.1m▼ 12.8%€2.1m▼ 1.7%€2.0m▼ 3.4%€1.5m▼ 25.1%€1.6m▲ 7.0%
Working capital€0.05m-€0.007m▼ 86.3%€0.09mwithin the sector's middle half▲ 13×-€0.08mbelow the sector's middle half-€0.08mwithin the sector's middle half▼ 2.1%-€0.3mbelow the sector's middle half▼ 244%-€0.5mbelow the sector's middle half▼ 56.8%-€0.8mbelow the sector's middle half▼ 66.3%
Solvency52.6%-54.4%▲ 1.8pp57.1%within the sector's middle half▲ 2.7pp60.6%within the sector's middle half▲ 3.5pp64.8%above the sector's middle half▲ 4.1pp66.5%above the sector's middle half▲ 1.8pp72.8%above the sector's middle half▲ 6.3pp71.1%above the sector's middle half▼ 1.8pp
Current ratio1.05-1.01▼ 0.051.10within the sector's middle half▲ 0.100.89within the sector's middle half▼ 0.210.93within the sector's middle half▲ 0.040.79within the sector's middle half▼ 0.140.58below the sector's middle half▼ 0.210.46below the sector's middle half▼ 0.12
Return on assets (ROA)3.1%-4.8%▲ 1.7pp2.2%within the sector's middle half▼ 2.7pp0.5%within the sector's middle half▼ 1.7pp9.5%within the sector's middle half▲ 9.1pp2.9%within the sector's middle half▼ 6.6pp0.7%within the sector's middle half▼ 2.2pp-1.5%within the sector's middle half▼ 2.3pp
Staff (FTE)15.8-18.5▲ 17.1%20.5above the sector's middle half▲ 10.8%22.2above the sector's middle half▲ 8.3%24above the sector's middle half▲ 8.1%24.6above the sector's middle half▲ 2.5%24.6above the sector's middle half=27.8above the sector's middle half▲ 13.0%
above
within
below
the middle half of NACE 93, Sports, amusement and recreation activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.5m
Fixed assets
€4.9m ▲ 0.1%
Current assets
€651,783 ▲ 2.1%
Equity and liabilities €5.5m
Equity
€3.9m ▼ 2.1%
Debt
€1.6m ▲ 7.0%
Debt's share of the balance-sheet total rises from 27.2% to 28.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€14,735▼
2024 · €157,816
Cash flow
-€72,804▼
2024 · €47,929
Debt to equity
0.41▲
2024 · 0.37
ROE
-2.1%▼
2024 · 1.0%
Interest coverage
0.18▼
2024 · 2.08
Debt ≤ 1 year
€1.4m▲
2024 · €1.1m
Debt > 1 year
€178,823▼
2024 · €386,766
Income taxes
€5,197▼
2024 · €34,941
Staff costs
€3.4m▲
2024 · €3.0m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €3.3m | €4.3m | €4.4m | €4.4m | €4.7m | ▲ 8.7% |
| Turnover70 | €2.7m | €3.2m | €3.0m | €3.3m | €4.2m | €4.4m | €4.3m | €4.7m | ▲ 8.5% |
| Other operating income74 | - | - | - | €0.07m | €0.08m | €0.07m | €0.06m | €0.07m | ▲ 20.4% |
| Non-recurring operating income76A | - | - | - | - | €0.01m | - | - | - | - |
| Operating charges60/66A | - | - | - | €3.2m | €3.5m | €4.1m | €4.2m | €4.7m | ▲ 12.5% |
| Goods for resale, raw materials and consumables60 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 7.8% |
| Purchases600/8 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 7.8% |
| Services and other goods61 | - | - | - | €0.7m | €0.8m | €1.0m | €0.9m | €1.0m | ▲ 11.8% |
| Remuneration, social security and pensions62 | - | - | - | €2.2m | €2.4m | €2.8m | €3.0m | €3.4m | ▲ 13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.009m | €0.01m | €0.01m | €0.004m | €0.003m | €0.007m | €0.007m | €0.01m | ▲ 53.4% |
| Other operating charges640/8 | - | - | - | €0.001m | €0.003m | €0.002m | €0.002m | €0.003m | ▲ 49.4% |
| Operating profit (loss)9901 | €0.3m | €0.5m | €0.3m | €0.1m | €0.8m | €0.3m | €0.2m | €0.004m | ▼ 97.6% |
| Financial income75/76B | - | - | - | €0.02m | €0.03m | €0.01m | €0.008m | €0.004m | ▼ 45.4% |
| Recurring financial income75 | €0.02m | €0.05m | €0.03m | €0.02m | €0.03m | €0.01m | €0.008m | €0.004m | ▼ 45.4% |
| Income from financial fixed assets750 | - | - | - | €26 | €28 | €37 | €35 | €50 | ▲ 42.8% |
| Income from current assets751 | - | - | - | €0.02m | €0.03m | €0.01m | €0.007m | €0.003m | ▼ 58.1% |
| Other financial income752/9 | - | - | - | €0 | €288 | €5 | €0 | €0.001m | ▲ 7,627× |
| Financial charges65/66B | - | - | - | €0.09m | €0.09m | €0.08m | €0.08m | €0.09m | ▲ 4.8% |
| Recurring financial charges65 | €0.09m | €0.1m | €0.1m | €0.09m | €0.09m | €0.08m | €0.08m | €0.09m | ▲ 4.8% |
| Debt charges650 | €0.08m | €0.1m | €0.09m | €0.08m | €0.08m | €0.07m | €0.08m | €0.08m | ▲ 5.2% |
| Other financial charges652/9 | - | - | - | €0.007m | €0.01m | €0.007m | €0.007m | €0.007m | ▲ 0.4% |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.4m | €0.2m | €0.08m | €0.8m | €0.3m | €0.08m | -€0.08m | - |
| Income taxes67/77 | €0.1m | €0.1m | €0.08m | €0.05m | €0.2m | €0.09m | €0.03m | €0.005m | ▼ 85.1% |
| Taxes670/3 | - | - | - | €0.05m | €0.2m | €0.09m | €0.03m | €0.005m | ▼ 85.1% |
| Profit (loss) for the period9904 | €0.2m | €0.3m | €0.1m | €0.03m | €0.6m | €0.2m | €0.04m | -€0.08m | - |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.3m | €0.1m | €0.03m | €0.6m | €0.2m | €0.04m | -€0.08m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €5.3m | €5.7m | €5.6m | €5.3m | €5.8m | €5.9m | €5.5m | €5.5m | ▲ 0.4% |
| Fixed assets21/28 | €4.3m | €4.6m | €4.6m | €4.7m | €4.7m | €4.8m | €4.8m | €4.9m | ▲ 0.1% |
| Intangible fixed assets21 | €10 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.01m | €0.01m | €0.004m | €0.006m | €0.01m | €0.01m | €0.02m | €0.02m | ▲ 37.0% |
| Plant, machinery and equipment23 | - | - | - | €0.006m | €0.01m | €0.01m | €0.02m | €0.02m | ▲ 37.0% |
| Financial fixed assets28 | €4.3m | €4.6m | €4.6m | €4.6m | €4.6m | €4.8m | €4.8m | €4.8m | = |
| Affiliated companies280/1 | - | - | - | €4.6m | €4.6m | €4.8m | €4.8m | €4.8m | = |
| Participating interests280 | - | - | - | €4.6m | €4.6m | €4.8m | €4.8m | €4.8m | = |
| Current assets29/58 | €1.0m | €1.1m | €1.0m | €0.7m | €1.2m | €1.1m | €0.6m | €0.7m | ▲ 2.1% |
| Amounts receivable after more than one year29 | - | - | - | €0.2m | €0.2m | €0.1m | - | - | - |
| Other amounts receivable291 | - | - | - | €0.2m | €0.2m | €0.1m | - | - | - |
| Amounts receivable within one year40/41 | €0.4m | €0.4m | €0.5m | €0.4m | €0.9m | €0.9m | €0.6m | €0.6m | ▲ 4.8% |
| Trade receivables40 | - | - | - | €0.3m | €0.7m | €0.6m | €0.3m | €0.5m | ▲ 43.5% |
| Other amounts receivable41 | - | - | - | €0.07m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 52.7% |
| Cash at bank and in hand54/58 | €0.2m | €0.3m | €0.2m | €0.09m | €0.08m | €0.08m | €0.005m | €0.001m | ▼ 87.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.03m | €0.04m | €0.05m | €0.04m | ▼ 18.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €5.3m | €5.7m | €5.6m | €5.3m | €5.8m | €5.9m | €5.5m | €5.5m | ▲ 0.4% |
| Equity10/15 | €2.8m | €3.1m | €3.2m | €3.2m | €3.8m | €4.0m | €4.0m | €3.9m | ▼ 2.1% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | €2.6m | €2.9m | €3.0m | €3.0m | €3.6m | €3.7m | €3.8m | €3.7m | ▼ 2.2% |
| Amounts payable17/49 | €2.5m | €2.6m | €2.4m | €2.1m | €2.1m | €2.0m | €1.5m | €1.6m | ▲ 7.0% |
| Amounts payable after more than one year17 | €1.5m | €1.5m | €1.5m | €1.3m | €0.8m | €0.6m | €0.4m | €0.2m | ▼ 53.8% |
| Financial debts170/4 | - | - | - | €1.3m | €0.8m | €0.6m | €0.4m | €0.2m | ▼ 53.8% |
| Subordinated loans170 | - | - | - | €1.3m | - | - | - | - | - |
| Credit institutions173 | - | - | - | - | €0.8m | €0.6m | €0.4m | €0.2m | ▼ 53.8% |
| Amounts payable within one year42/48 | €1.0m | €1.1m | €0.9m | €0.8m | €1.3m | €1.4m | €1.1m | €1.4m | ▲ 28.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 3.5% |
| Financial debts43 | - | - | - | - | €0.1m | €0.2m | €0.08m | €0.03m | ▼ 66.7% |
| Credit institutions430/8 | - | - | - | - | €0.1m | €0.2m | €0.08m | €0.03m | ▼ 66.7% |
| Trade debts44 | €0.4m | €0.4m | €0.2m | €0.2m | €0.3m | €0.4m | €0.3m | €0.2m | ▼ 9.8% |
| Suppliers440/4 | - | - | - | €0.2m | €0.3m | €0.4m | €0.3m | €0.2m | ▼ 9.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.6m | €0.6m | €0.6m | €0.5m | €0.7m | ▲ 26.0% |
| Taxes450/3 | - | - | - | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | ▲ 12.5% |
| Remuneration and social security454/9 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.5m | ▲ 30.2% |
| Other amounts payable47/48 | - | - | - | €0.007m | €0.08m | €0.006m | €0.01m | €0.2m | ▲ 26× |
| Accrued charges and deferred income492/3 | - | - | - | €0.09m | €0.007m | €0.01m | €0.01m | €0.01m | ▼ 20.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €166,275 | €273,067 | €120,771 | €25,057 | €556,521 | €173,746 | €40,656 | -€83,961 | - |
| + Depreciation and write-downs630 | €9,025 | €9,959 | €9,568 | €4,094 | €3,404 | €6,572 | €7,273 | €11,157 | ▲ 53.4% |
| Operating cash flow (approximation) | €175,300 | €283,026 | €130,338 | €29,150 | €559,925 | €180,318 | €47,929 | -€72,804 | - |
| Investment in fixed assets (approximation) | - | -€319,437 | -€1,721 | -€68,695 | -€6,999 | -€197,007 | -€10,749 | -€17,170 | ▼ 59.7% |
| Change in cash | - | €91,800 | -€78,594 | -€123,826 | -€10,192 | -€1,506 | -€74,840 | -€4,128 | ▲ 94.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 38 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | consolidated | 17-09-2026 | 2026-00516604 |
| 31-12-2025 | full format | 09-09-2026 | 2026-00509293 |
| 31-12-2024 | consolidated | 28-11-2025 | 2025-00574231 |
| 31-12-2024 | full format | 18-07-2025 | 2025-00287596 |
| 31-12-2023 | consolidated | 30-08-2024 | 2024-00454214 |
| 31-12-2023 | full format | 22-08-2024 | 2024-00360568 |
| 31-12-2022 | consolidated | 01-09-2023 | 2023-00438321 |
| 31-12-2022 | full format | 26-07-2023 | 2023-00298796 |
| 31-12-2021 | full format | 28-07-2022 | 2022-20246100 |
| 31-12-2020 | full format | 28-08-2021 | 2021-57300298 |
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Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.