Summary
IPORA is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €120,225 and a net result of €4,600. Equity remains stable across the filed financial years (±0.1% per year). Its solvency ranks better than 45% of 9,680 sector peers (NACE 64, financial year 2025). The company has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00456417.
Equity
€120,225▼ 18.2%
2024 · €147,010
Net result
€4,600▼ 62.2%
2024 · €12,164
Total assets
€268,756▼ 1.3%
2024 · €272,203
Solvency
44.7%▼ 9.3pp
2024 · 54.0%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result falls in 2025; 2025 is 27% 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.
Operating result€19,243
2025
Net result€4,600
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€268,756
2025
Equity€120,225
2025
Debt€148,531
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€110,960
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)1.7%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency44.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.78
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: 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).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€42,986-€25,797▼ 40.0%€45,848▲ 77.7%€47,629▲ 3.9%€41,120▼ 13.7%€26,040▼ 36.7%€26,240▲ 0.8%€19,243▼ 26.7%
Net result€32,303-€16,776▼ 48.1%€31,385within the sector's middle half▲ 87.1%€32,801within the sector's middle half▲ 4.5%€27,027within the sector's middle half▼ 17.6%€14,905within the sector's middle half▼ 44.9%€12,164within the sector's middle half▼ 18.4%€4,600within the sector's middle half▼ 62.2%
Equity€145,042-€137,544▼ 5.2%€149,879within the sector's middle half▲ 9.0%€169,240within the sector's middle half▲ 12.9%€190,080within the sector's middle half▲ 12.3%€151,623within the sector's middle half▼ 20.2%€147,010within the sector's middle half▼ 3.0%€120,225within the sector's middle half▼ 18.2%
Total assets€190,490-€170,299▼ 10.6%€182,325within the sector's middle half▲ 7.1%€227,725within the sector's middle half▲ 24.9%€249,658within the sector's middle half▲ 9.6%€274,881within the sector's middle half▲ 10.1%€272,203within the sector's middle half▼ 1.0%€268,756within the sector's middle half▼ 1.3%
Debt€45,448-€32,755▼ 27.9%€32,445▼ 0.9%€58,485▲ 80.3%€59,579▲ 1.9%€123,259▲ 107%€125,192▲ 1.6%€148,531▲ 18.6%
Working capital€132,211-€127,864▼ 3.3%€144,628above the sector's middle half▲ 13.1%€103,122within the sector's middle half▼ 28.7%€139,831within the sector's middle half▲ 35.6%€115,367within the sector's middle half▼ 17.5%€119,214within the sector's middle half▲ 3.3%€110,960within the sector's middle half▼ 6.9%
Solvency76.1%-80.8%▲ 4.6pp82.2%above the sector's middle half▲ 1.4pp74.3%within the sector's middle half▼ 7.9pp76.1%within the sector's middle half▲ 1.8pp55.2%within the sector's middle half▼ 21.0pp54.0%within the sector's middle half▼ 1.2pp44.7%within the sector's middle half▼ 9.3pp
Current ratio3.91-4.90▲ 0.995.46above the sector's middle half▲ 0.552.76within the sector's middle half▼ 2.693.35within the sector's middle half▲ 0.581.95within the sector's middle half▼ 1.392.00within the sector's middle half▲ 0.041.78within the sector's middle half▼ 0.21
Return on assets (ROA)17.0%-9.9%▼ 7.1pp17.2%within the sector's middle half▲ 7.4pp14.4%within the sector's middle half▼ 2.8pp10.8%within the sector's middle half▼ 3.6pp5.4%within the sector's middle half▼ 5.4pp4.5%within the sector's middle half▼ 1.0pp1.7%within the sector's middle half▼ 2.8pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: 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.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €268,756
Fixed assets
€15,826 ▼ 52.5%
Current assets
€252,930 ▲ 5.9%
Equity and liabilities €268,756
Equity
€120,225 ▼ 18.2%
Debt
€148,531 ▲ 18.6%
Debt's share of the balance-sheet total rises from 46.0% to 55.3%. Equity is lower and debt is higher.
Key figures and ratios
ROE
3.8%▼
2024 · 8.3%
Debt ≤ 1 year
€141,969▲
2024 · €119,701
Income taxes
€8,976▼
2024 · €9,530
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,654 | €9,344 | €7,734 | €13,469 | €15,869 | €15,945 | €20,507 | €21,593 | ▲ 5.3% |
| Other operating charges640/8 | - | - | - | €1,217 | €1,258 | €1,606 | €2,818 | €2,062 | ▼ 26.8% |
| Gross operating margin9900 | €52,313 | €36,367 | €56,724 | €62,315 | €58,247 | €43,591 | €49,566 | €42,898 | ▼ 13.5% |
| Operating profit (loss)9901 | €42,986 | €25,797 | €45,848 | €47,629 | €41,120 | €26,040 | €26,240 | €19,243 | ▼ 26.7% |
| Financial income75/76B | - | - | - | - | - | €1,614 | €1,261 | €1,177 | ▼ 6.6% |
| Recurring financial income75 | €1 | €0 | €3 | - | - | €1,614 | €1,261 | €1,177 | ▼ 6.6% |
| Financial charges65/66B | - | - | - | €1,177 | €1,504 | €2,289 | €5,808 | €6,845 | ▲ 17.8% |
| Recurring financial charges65 | €74 | €89 | €252 | €1,177 | €1,504 | €2,289 | €5,808 | €6,845 | ▲ 17.8% |
| Profit (loss) for the period before taxes9903 | €42,912 | €25,707 | €45,599 | €46,452 | €39,617 | €25,365 | €21,693 | €13,576 | ▼ 37.4% |
| Income taxes67/77 | €10,609 | €8,931 | €14,214 | €13,651 | €12,590 | €10,460 | €9,530 | €8,976 | ▼ 5.8% |
| Profit (loss) for the period9904 | €32,303 | €16,776 | €31,385 | €32,801 | €27,027 | €14,905 | €12,164 | €4,600 | ▼ 62.2% |
| Profit (loss) for the period to be appropriated9905 | €32,303 | €16,776 | €31,385 | €32,801 | €27,027 | €14,905 | €12,164 | €4,600 | ▼ 62.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €190,490 | €170,299 | €182,325 | €227,725 | €249,658 | €274,881 | €272,203 | €268,756 | ▼ 1.3% |
| Fixed assets21/28 | €12,830 | €9,680 | €5,251 | €66,118 | €50,249 | €38,475 | €33,288 | €15,826 | ▼ 52.5% |
| Tangible fixed assets22/27 | €12,830 | €9,680 | €5,251 | €66,118 | €50,249 | €38,475 | €33,288 | €15,826 | ▼ 52.5% |
| Plant, machinery and equipment23 | - | - | - | €2,527 | €1,697 | €1,172 | €1,678 | €4,584 | ▲ 173% |
| Furniture and vehicles24 | - | - | - | €63,591 | €48,552 | €37,303 | €31,610 | €11,242 | ▼ 64.4% |
| Current assets29/58 | €177,660 | €160,619 | €177,073 | €161,607 | €199,410 | €236,407 | €238,915 | €252,930 | ▲ 5.9% |
| Amounts receivable within one year40/41 | €9,112 | €12,872 | €12,568 | €14,586 | €10,748 | €14,885 | €58,578 | €34,654 | ▼ 40.8% |
| Trade receivables40 | - | - | - | €6,036 | €1,240 | €8,330 | €29,689 | €7,711 | ▼ 74.0% |
| Other amounts receivable41 | - | - | - | €8,551 | €9,508 | €6,556 | €28,889 | €26,943 | ▼ 6.7% |
| Current investments50/53 | - | - | - | - | - | €140,000 | €150,973 | €150,973 | = |
| Cash at bank and in hand54/58 | €168,548 | €147,748 | €164,506 | €147,021 | €188,661 | €77,015 | €25,101 | €54,645 | ▲ 118% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €4,507 | €4,263 | €12,657 | ▲ 197% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €190,490 | €170,299 | €182,325 | €227,725 | €249,658 | €274,881 | €272,203 | €268,756 | ▼ 1.3% |
| Equity10/15 | €145,042 | €137,544 | €149,879 | €169,240 | €190,080 | €151,623 | €147,010 | €120,225 | ▼ 18.2% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Capital10 | - | - | - | €20,000 | - | - | - | - | - |
| Issued capital100 | - | - | - | €20,000 | - | - | - | - | - |
| Reserves13 | €125,042 | €117,544 | €129,879 | €149,240 | €170,080 | €131,623 | €127,010 | €100,225 | ▼ 21.1% |
| Non-distributable reserves130/1 | - | - | - | €5,600 | €5,600 | €2,360 | €0 | - | - |
| Legal reserve130 | - | - | - | €5,600 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €5,600 | €2,360 | €0 | - | - |
| Distributable reserves133 | - | - | - | €143,640 | €164,480 | €129,263 | €127,010 | €100,225 | ▼ 21.1% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €45,448 | €32,755 | €32,445 | €58,485 | €59,579 | €123,259 | €125,192 | €148,531 | ▲ 18.6% |
| Amounts payable within one year42/48 | €45,448 | €32,755 | €32,445 | €58,485 | €59,579 | €121,040 | €119,701 | €141,969 | ▲ 18.6% |
| Financial debts43 | - | - | - | - | - | - | €161 | €119 | ▼ 26.4% |
| Credit institutions430/8 | - | - | - | - | - | - | €161 | €119 | ▼ 26.4% |
| Trade debts44 | €311 | €2,579 | €493 | €4,910 | €2,849 | €16,015 | €991 | €510 | ▼ 48.5% |
| Suppliers440/4 | - | - | - | €4,910 | €2,849 | €16,015 | €991 | €510 | ▼ 48.5% |
| Taxes, remuneration and social security45 | - | - | - | €11,462 | €18,385 | €8,139 | €8,364 | €8,317 | ▼ 0.6% |
| Taxes450/3 | - | - | - | €11,462 | €18,385 | €8,139 | €8,364 | €8,317 | ▼ 0.6% |
| Other amounts payable47/48 | - | - | - | €42,113 | €38,344 | €96,886 | €110,185 | €133,024 | ▲ 20.7% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €2,218 | €5,491 | €6,562 | ▲ 19.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,303 | €16,776 | €31,385 | €32,801 | €27,027 | €14,905 | €12,164 | €4,600 | ▼ 62.2% |
| + Depreciation and write-downs630 | €7,654 | €9,344 | €7,734 | €13,469 | €15,869 | €15,945 | €20,507 | €21,593 | ▲ 5.3% |
| Operating cash flow (approximation) | €39,957 | €26,120 | €39,119 | €46,270 | €42,896 | €30,850 | €32,671 | €26,193 | ▼ 19.8% |
| Investment in fixed assets (approximation) | - | -€6,193 | -€3,305 | -€74,336 | €0 | -€4,171 | -€15,320 | -€4,131 | ▲ 73.0% |
| Change in cash | - | -€20,800 | €16,758 | -€17,485 | €41,641 | -€111,647 | -€51,914 | €29,544 | - |
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 16 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00456417 |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00335846 |
| 31-12-2023 | micro format | 19-08-2024 | 2024-00349069 |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00159326 |
| 31-12-2021 | micro format | 29-06-2022 | 2022-20148626 |
| 31-12-2020 | micro format | 03-09-2021 | 2021-65500329 |
| 31-12-2019 | micro format | 09-06-2020 | 2020-15500125 |
| 31-12-2018 | abbreviated format | 28-06-2019 | 2019-24900197 |
| 31-12-2017 | abbreviated format | 04-06-2018 | 2018-15700098 |
| 31-12-2016 | abbreviated format | 24-07-2017 | 2017-34900438 |
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Of the 24,462 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 19,970. 12,933 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · €7,605 awarded · €7,605 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €2,535 | €2,535 |
| 2023 | 1 | €2,535 | €2,535 |
| 2022 | 1 | €2,535 | €2,535 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.