INTER SHIPPING
ActiveSummary
INTER SHIPPING has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.30M and a net result of €847k. Equity is growing by ~9.9% per year across the filed fiscal years. Its solvency ranks better than 15% of 286 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▲+4
Solvency42▲+2
Growth72▼-3
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €280k at 30 days acceptable
Liquidity ample (current ratio 2.18 against 1.68 in 2024; short-term debt: 31% and cash: 3.7% of total assets), but 82.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
17.2%
Return on assets
3.4%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 23
Relative position
BE, all sectors
reference
Manufacture of other non-metallic mineral products (NACE 23)
about 17% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 286 sector peers (2025).
NBB · sector comparisonPosition among 286 sector peers
Solvency
better than 15%
← weakest
strongest →
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
27 d early
2023
7 d early
2022
20 d early
2021
20 d early
2020
76 d late
2019
8 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€25.00M▼ 6.8%
2024 · €26.81M
EBIT margin
5.0%▲ 2.7pp
2024 · 2.4%
Net result
€847k▲ 106%
2024 · €412k
Working capital
€9.16M▲ 67.3%
2024 · €5.47M
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€16.87M▲ 1.8%€25.10M▲ 48.8%€27.53M▲ 9.7%€26.81M▼ 2.6%€25.00M▼ 6.8%
Operating result€706k▲ 91.7%€309k▼ 56.3%€399k▲ 29.3%€632k▲ 58.3%€1.26M▲ 99.1%
Net result€513k▲ 390%€26k▼ 94.9%€221k▲ 742%€412k▲ 86.6%€847k▲ 106%
EBIT margin4.2%▲ 2.0pp1.2%▼ 3.0pp1.4%▲ 0.2pp2.4%▲ 0.9pp5.0%▲ 2.7pp
Equity€2.79M▲ 22.5%€2.81M▲ 0.9%€3.04M▲ 7.8%€3.45M▲ 13.6%€4.30M▲ 24.6%
Total assets€19.25M▲ 20.0%€23.06M▲ 19.7%€21.63M▼ 6.2%€22.70M▲ 4.9%€24.99M▲ 10.1%
Debt€16.47M▲ 19.6%€20.24M▲ 22.9%€18.60M▼ 8.1%€19.25M▲ 3.5%€20.69M▲ 7.5%
Working capital€-1.50M▼ 1,813%€5.68M€5.80M▲ 2.1%€5.47M▼ 5.6%€9.16M▲ 67.3%
Staff (FTE)34.7▲ 14.9%43.5▲ 25.4%55.2▲ 26.9%49.4▼ 10.5%45.8▼ 7.3%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 99% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €24.99M
Fixed assets
€8.09M ▼ 12.2%
Current assets
€16.90M ▲ 25.4%
Equity and liabilities €24.99M
Equity
€4.30M ▲ 24.6%
Debt
€20.69M ▲ 7.5%
Debt's share of the balance-sheet total falls from 84.8% to 82.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€2.98M▲
2024 · €2.59M
Cash flow
€2.57M▲
2024 · €2.37M
Current ratio
2.18▲
2024 · 1.68
Quick ratio
1.07▲
2024 · 0.91
Debt to equity
4.82▼
2024 · 5.58
ROE
19.7%▲
2024 · 12.0%
ROA
3.4%▲
2024 · 1.8%
Interest coverage
12.23▲
2024 · 11.87
Debt ≤ 1 year
€7.74M▼
2024 · €8.01M
Debt > 1 year
€12.95M▲
2024 · €11.24M
Income taxes
€159k▲
2024 · €1k
Staff costs
€2.77M▼
2024 · €3.00M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €18.36M | €28.33M | €27.49M | €26.40M | €27.70M | ▲ 4.9% |
| Turnover70 | €16.87M | €25.10M | €27.53M | €26.81M | €25.00M | ▼ 6.8% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | €1.38M | €2.65M | €-1.18M | €-642k | €2.47M | ▲ 484% |
| Other operating income74 | €71k | €575k | €1.03M | €238k | €240k | ▲ 0.9% |
| Non-recurring operating income76A | €43k | €5k | €107k | €0 | €826 | - |
| Operating charges60/66A | €17.65M | €28.03M | €27.09M | €25.77M | €26.45M | ▲ 2.6% |
| Goods for resale, raw materials and consumables60 | €10.53M | €19.07M | €17.81M | €17.38M | €18.65M | ▲ 7.3% |
| Purchases600/8 | €11.99M | €19.70M | €16.89M | €17.83M | €18.64M | ▲ 4.5% |
| Change in stocks: decrease (increase)609 | €-1.47M | €-634k | €915k | €-452k | €13k | ▲ 103% |
| Services and other goods61 | €3.66M | €4.67M | €3.64M | €3.20M | €3.04M | ▼ 4.8% |
| Remuneration, social security and pensions62 | €1.74M | €2.53M | €3.16M | €3.00M | €2.77M | ▼ 7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.51M | €1.58M | €1.70M | €1.96M | €1.72M | ▼ 12.2% |
| Other operating charges640/8 | €132k | €178k | €722k | €238k | €229k | ▼ 3.8% |
| Non-recurring operating charges66A | €87k | €872 | €65k | €4k | €36k | ▲ 931% |
| Operating profit (loss)9901 | €706k | €309k | €399k | €632k | €1.26M | ▲ 99.1% |
| Financial income75/76B | €477 | €10 | €0 | €10k | €0 | ▼ 100.0% |
| Recurring financial income75 | €477 | €10 | €0 | €10k | €0 | ▼ 100.0% |
| Other financial income752/9 | €477 | €10 | €0 | €10k | €0 | ▼ 100.0% |
| Financial charges65/66B | €194k | €282k | €177k | €228k | €251k | ▲ 10.3% |
| Recurring financial charges65 | €194k | €282k | €177k | €228k | €251k | ▲ 10.3% |
| Debt charges650 | €189k | €275k | €171k | €218k | €244k | ▲ 11.6% |
| Other financial charges652/9 | €4k | €7k | €6k | €10k | €8k | ▼ 18.2% |
| Profit (loss) for the period before taxes9903 | €513k | €27k | €222k | €414k | €1.01M | ▲ 143% |
| Income taxes67/77 | €355 | €610 | €870 | €1k | €159k | ▲ 11,971% |
| Taxes670/3 | €355 | €610 | €870 | €1k | €159k | ▲ 11,971% |
| Profit (loss) for the period9904 | €513k | €26k | €221k | €412k | €847k | ▲ 106% |
| Profit (loss) for the period to be appropriated9905 | €513k | €26k | €221k | €412k | €847k | ▲ 106% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €19.25M | €23.06M | €21.63M | €22.70M | €24.99M | ▲ 10.1% |
| Fixed assets21/28 | €9.32M | €8.21M | €8.16M | €9.21M | €8.09M | ▼ 12.2% |
| Tangible fixed assets22/27 | €9.32M | €8.21M | €8.16M | €9.21M | €8.09M | ▼ 12.2% |
| Land and buildings22 | €5.04M | €4.45M | €3.88M | €3.96M | €3.16M | ▼ 20.0% |
| Plant, machinery and equipment23 | €4.23M | €3.69M | €4.06M | €5.01M | €4.64M | ▼ 7.4% |
| Furniture and vehicles24 | €50k | €69k | €223k | €246k | €281k | ▲ 14.1% |
| Financial fixed assets28 | €2k | €4k | €0 | - | - | - |
| Other financial fixed assets284/8 | €2k | €4k | €0 | - | - | - |
| Amounts receivable and cash guarantees285/8 | €2k | €4k | €0 | - | - | - |
| Current assets29/58 | €9.93M | €14.84M | €13.47M | €13.48M | €16.90M | ▲ 25.4% |
| Stocks and contracts in progress3 | €5.19M | €8.47M | €6.38M | €6.19M | €8.64M | ▲ 39.7% |
| Stocks30/36 | €2.97M | €3.61M | €2.69M | €3.14M | €3.13M | ▼ 0.4% |
| Raw materials and consumables30/31 | €2.97M | €3.61M | €2.69M | €3.14M | €3.13M | ▼ 0.4% |
| Contracts in progress37 | €2.22M | €4.87M | €3.69M | €3.05M | €5.51M | ▲ 81.0% |
| Amounts receivable within one year40/41 | €4.50M | €3.94M | €6.59M | €5.65M | €7.31M | ▲ 29.3% |
| Trade receivables40 | €4.49M | €3.94M | €6.59M | €5.65M | €7.31M | ▲ 29.3% |
| Other amounts receivable41 | €7k | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €236k | €2.42M | €497k | €1.64M | €935k | ▼ 42.9% |
| Deferred charges and accrued income490/1 | €13k | €12k | €8k | €7k | €19k | ▲ 178% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €19.25M | €23.06M | €21.63M | €22.70M | €24.99M | ▲ 10.1% |
| Equity10/15 | €2.79M | €2.81M | €3.04M | €3.45M | €4.30M | ▲ 24.6% |
| Contributions10/11 | €4.00M | €4.00M | €4.00M | €4.00M | €4.00M | = |
| Capital10 | €4.00M | €4.00M | €4.00M | €4.00M | €4.00M | = |
| Issued capital100 | €4.00M | €4.00M | €4.00M | €4.00M | €4.00M | = |
| Reserves13 | €100 | €100 | €100 | €100 | €295k | ▲ 295,000% |
| Non-distributable reserves130/1 | €100 | €100 | €100 | €100 | €42k | ▲ 42,375% |
| Legal reserve130 | €100 | €100 | €100 | €100 | €42k | ▲ 42,375% |
| Distributable reserves133 | - | - | - | - | €253k | - |
| Profit (loss) carried forward14 | €-1.21M | €-1.19M | €-964k | €-552k | €508 | ▲ 100% |
| Amounts payable17/49 | €16.47M | €20.24M | €18.60M | €19.25M | €20.69M | ▲ 7.5% |
| Amounts payable after more than one year17 | €5.03M | €10.98M | €10.89M | €11.24M | €12.95M | ▲ 15.2% |
| Financial debts170/4 | €5.03M | €10.98M | €10.89M | €11.24M | €5.26M | ▼ 53.2% |
| Subordinated loans170 | €1.07M | €1.07M | €0 | - | - | - |
| Credit institutions173 | €3.96M | €4.23M | €4.54M | €6.41M | €5.26M | ▼ 18.0% |
| Other loans174 | - | €5.69M | €6.35M | €4.83M | €0 | ▼ 100% |
| Other amounts payable178/9 | - | - | - | - | €7.69M | - |
| Amounts payable within one year42/48 | €11.43M | €9.16M | €7.67M | €8.01M | €7.74M | ▼ 3.3% |
| Current portion of amounts payable after more than one year42 | €1.24M | €1.40M | €1.41M | €1.21M | €1.15M | ▼ 5.0% |
| Financial debts43 | €0 | €125k | €0 | - | - | - |
| Credit institutions430/8 | €0 | €125k | €0 | - | - | - |
| Trade debts44 | €5.79M | €7.29M | €5.67M | €6.24M | €6.13M | ▼ 1.8% |
| Suppliers440/4 | €5.79M | €7.29M | €5.67M | €6.24M | €6.13M | ▼ 1.8% |
| Taxes, remuneration and social security45 | €265k | €343k | €597k | €553k | €463k | ▼ 16.2% |
| Taxes450/3 | €33k | €48k | €128k | €125k | €222k | ▲ 76.9% |
| Remuneration and social security454/9 | €231k | €295k | €468k | €428k | €241k | ▼ 43.6% |
| Other amounts payable47/48 | €4.14M | €3k | €0 | - | - | - |
| Accrued charges and deferred income492/3 | €8k | €101k | €32k | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €513k | €26k | €221k | €412k | €847k | ▲ 106% |
| + Depreciation and write-downs630 | €1.51M | €1.58M | €1.70M | €1.96M | €1.72M | ▼ 12.2% |
| Operating cash flow (approximation) | €2.02M | €1.60M | €1.92M | €2.37M | €2.57M | ▲ 8.3% |
| Investment in fixed assets (approximation) | - | €-469k | €-1.64M | €-3.01M | €-594k | ▲ 80.3% |
| Change in cash | - | €2.19M | €-1.92M | €1.14M | €-703k | ▼ 162% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-08
State Gazette act
Reappointment: BV INGELBEEN (non-statutory director)Permanent representative: Dennis Ingelbeen · Appointment: Olivier Van Rossen (day-to-day manager) · Mandate compensation7 facts ▸
State Gazette act
Reappointment: BV INGELBEEN (non-statutory director)
Permanent representative: Dennis Ingelbeen · Appointment: Olivier Van Rossen (day-to-day manager) · Mandate compensation7 facts ▸
- General meeting, 30-06-2026
- Director reappointment, BV INGELBEEN (non-statutory director)
- Mandate compensation, BV INGELBEEN
- Permanent representative, Dennis Ingelbeen
- Board meeting, 30-06-2026
- Director appointment, Olivier Van Rossen (day-to-day manager)
- Mandate compensation, Olivier Van Rossen
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €847k ▲106%
Operating result €1.26M, net result €847k, both a record.
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
15-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 76 days late
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet €15k ▼82%
Net result drops to €15k, the lowest in the series; recovery starts the following year.
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
06-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 16 acts read
About the unread acts
Of the 16 Belgian State Gazette acts we know for this company, 1 has been read. The other 15 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Ingelbeen BV
CurrentNon-statutory director · since 30-06-2026 · Legal entity · perm. rep.: Dennis Ingelbeen
Olivier Van Rossen
CurrentDay-to-day manager · since 30-06-2026
30-06-2026
Ingelbeen BV: Mandate renewed as Non-statutory director
30-06-2026
Olivier Van Rossen: Appointed as Day-to-day manager
Not every act has been read: a resignation may be missing here
15 of this company's 16 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Bornem · 1 establishment unit since 2000
Ground area
13.0 ha
Building footprint
8,726 m²
Volume, LiDAR
103,251 m³
Parcel 12015C0519/00H000, Flanders · tallest building 15.2 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Oude Sluisweg (WIN) 30, 2880 Bornem
since 20002.052.267.602
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12015C0519/00H000 | Flanders | 13.0 ha | 1 · 8,726 m² | 15.2 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
5493004HWZ5E0OLWD142
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Of 401 companies in sector 23610 we hold annual accounts for 315. 203 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded02-04-1991
Fiscal year end31-12
Activities, NACEBEL 2025
23610Manufacture of other non-metallic mineral products
52250Logistics services
Scores and ratios are computed by Checked and are not a credit decision.