Ipsen

Active Public limited companyfounded 1982active for 44 yearsTreurenberg 2-4, 1000 BrusselsKBO/BCE: BE 0422.650.477 subsidiary of Ipsen Pharma SAS#2 company by equity in Brussels, Wholesale and retail trade sector

Ipsen

Financial year 2025

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Annual accounts 2025

full format, filed on 17-07-2026, 14 days before the deadline

€71.3m

▲ 2.6%

€3.4m

▲ 23.8%

€3.5m

▲ 24.1%

€4.2m

▼ 17.2%

89.2%

▼ 3.0 percentage points

9.27

▼ 3.52

In the rankings #2 company by equity in Brussels, Wholesale and retail trade sector

Money flows

of every €100 of turnover, €5.85 remains as profit in 2025

Balance sheet

balance sheet total €134.4m on 31-12-2025

What the company ownsHow it is paid for

in €m

Position in the sector

Compare with sector

89.2%

Higher than 92% of 6,191 companies in 2025.

9.27

Higher than 93% of 6,111 companies in 2025.

3.1%

Higher than 48% of 6,175 companies in 2025.

Ipsen Middle half of the sector 80% of the sector Full accounts in wholesale trade (NACE 46)

Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: top quarter

Staff

Men and women73% women

10.8 men and 29.1 women in full-time equivalents in 2025.

€237,443

Men €343,401, women €198,118 per full-time equivalent. Jobs differ, so this is not a pay gap.

-4 people

people who joined people who left

In 2025, 1 person joined and 5 left. Training hours in 2025: 474.

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2010	2009
Balance sheet: assets
`20/58`	134.4m	125.5m	126.5m	124.5m	112.7m	114.2m	109.6m	109.2m	106.6m	104.6m	103.1m	105.6m	101.6m	103.8m	98.2m	95.6m
`21/28`	444,365	160,285	95,429	102,784	54,251	34,457	55.0m	55.1m	55.1m	79.1m	79.2m	79.3m	79.4m	-	-	79.0m
`21`	73,776	86,546	-	-	-	-	-	-	-	61,484	102,430	173,191	245,528	317,880	369,638	423,080
`22/27`	370,589	73,739	95,429	102,784	54,251	34,457	49,053	62,277	73,459	73,459	62,969	92,159	108,788	109,178	61,153	68,162
`23`	17,229	27,658	33,875	47,120	20,887	19,417	20,772	32,074	33,260	20,087	27,354	32,668	23,647	26,120	20,672	23,544
`24`	75,455	20,757	25,939	31,805	13,740	8,564	12,987	14,341	19,205	24,258	33,918	41,527	49,347	47,402	32,163	38,069
`26`	277,905	25,324	35,615	23,859	19,624	6,476	15,295	15,862	20,995	29,113	1,697	17,964	35,794	35,656	8,318	6,549
`28`	-	-	-	-	-	-	55.0m	55.0m	55.0m	79.0m	79.0m	79.0m	79.0m	78.5m	78.5m	78.5m
`280/1`	-	-	-	-	-	-	55.0m	55.0m	55.0m	79.0m	79.0m	79.0m	79.0m	78.5m	78.5m	78.5m
`281`	-	-	-	-	-	-	55.0m	55.0m	55.0m	79.0m	79.0m	79.0m	79.0m	78.5m	78.5m	78.5m
`284/8`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,400	-
`285/8`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,400	-
`29/58`	133.9m	125.3m	126.4m	124.4m	112.6m	114.2m	54.5m	54.1m	51.5m	25.5m	23.9m	26.4m	22.3m	24.9m	19.2m	16.6m
`3`	13.5m	9.7m	6.8m	9.2m	3.8m	6.4m	5.1m	3.3m	2.5m	1.9m	2.3m	1.4m	1.9m	1.5m	2.0m	1.7m
`30/36`	13.5m	9.7m	6.8m	9.2m	3.8m	6.4m	5.1m	3.3m	2.5m	1.9m	2.3m	1.4m	1.9m	1.5m	2.0m	1.7m
`34`	13.5m	9.7m	6.8m	9.2m	3.8m	6.4m	5.1m	3.3m	2.5m	1.9m	2.3m	1.4m	1.9m	1.5m	2.0m	1.7m
`40/41`	120.3m	115.6m	119.4m	115.2m	108.7m	107.8m	49.2m	50.7m	49.0m	23.6m	20.5m	24.7m	19.4m	22.6m	16.7m	14.4m
`40`	11.4m	8.3m	7.0m	7.9m	5.9m	6.9m	8.1m	7.5m	4.4m	3.7m	4.3m	4.2m	3.9m	3.9m	3.8m	4.0m
`41`	108.9m	107.3m	112.4m	107.3m	102.8m	100.9m	41.1m	43.2m	44.6m	19.9m	16.2m	20.4m	15.5m	18.7m	12.9m	10.4m
`54/58`	252	350	-	-	-	-	-	-	-	63	1.1m	277,705	947,059	788,255	564,967	577,978
`490/1`	113,829	57,941	193,437	69,959	58,469	20,453	169,124	82,092	41,063	37,992	13,722	600	1,150	1,028	2,570	15,217
Balance sheet: equity and liabilities
`10/49`	134.4m	125.5m	126.5m	124.5m	112.7m	114.2m	109.6m	109.2m	106.6m	104.6m	103.1m	105.6m	101.6m	103.8m	98.2m	95.6m
`10/15`	119.9m	115.7m	110.6m	106.9m	105.5m	104.3m	103.2m	101.5m	100.1m	99.2m	97.3m	95.7m	98.0m	95.4m	94.4m	91.5m
`10/11`	78.7m	78.7m	78.7m	78.7m	78.7m	78.7m	78.7m	-	78.7m	78.7m	78.7m	78.7m	78.7m	-	-	78.7m
`10`	78.7m	78.7m	78.7m	78.7m	78.7m	-	-	78.7m	-	-	-	-	-	78.7m	78.7m	-
`100`	78.7m	78.7m	78.7m	78.7m	78.7m	78.7m	78.7m	78.7m	78.7m	78.7m	78.7m	78.7m	78.7m	78.7m	78.7m	78.7m
`13`	2.3m	2.1m	1.8m	1.6m	1.6m	1.5m	1.5m	1.4m	1.3m	1.3m	1.2m	1.1m	966,921	838,404	549,454	405,288
`130/1`	2.3m	2.1m	1.8m	1.6m	1.6m	1.5m	-	-	-	-	-	-	-	-	-	-
`130`	2.3m	2.1m	1.8m	1.6m	1.6m	1.5m	1.5m	1.4m	1.3m	1.3m	1.2m	1.1m	966,921	838,404	549,454	405,288
`14`	38.8m	34.9m	30.1m	26.5m	25.2m	24.1m	23.0m	21.4m	20.0m	19.2m	17.4m	15.8m	18.3m	15.8m	15.1m	12.4m
`16`	-	-	-	57,213	-	-	-	-	-	110,000	138,591	77,872	37,740	238,791	146,632	209,550
`160/5`	-	-	-	57,213	-	-	-	-	-	110,000	138,591	77,872	37,740	238,791	146,632	209,550
`160`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	49,821	138,950
`164/5`	-	-	-	57,213	-	-	-	-	-	110,000	138,591	77,872	37,740	-	-	70,600
`17/49`	14.5m	9.8m	15.9m	17.6m	7.2m	9.9m	6.4m	7.7m	6.5m	5.4m	5.6m	9.9m	3.6m	8.2m	3.6m	3.9m
`42/48`	14.4m	9.8m	15.9m	17.6m	7.2m	9.9m	6.4m	7.7m	6.5m	5.4m	5.6m	9.9m	3.6m	-	-	3.9m
`43`	-	-	-	283	-	-	-	-	-	-	-	-	-	-	-	-
`430/8`	-	-	-	283	-	-	-	-	-	-	-	-	-	-	-	-
`44`	11.6m	8.0m	13.0m	15.5m	4.9m	8.5m	5.6m	6.6m	5.8m	4.8m	5.0m	4.4m	2.9m	4.7m	3.1m	3.2m
`440/4`	11.6m	8.0m	13.0m	15.5m	4.9m	8.5m	5.6m	6.6m	5.8m	4.8m	5.0m	4.4m	2.9m	4.7m	3.1m	3.2m
`45`	2.9m	1.8m	2.9m	2.1m	2.3m	1.4m	809,243	1.0m	710,637	607,655	646,042	721,571	686,694	679,896	533,036	654,557
`450/3`	936,443	166,892	1.2m	344,518	495,525	312,081	21,400	110,457	54,038	5,683	22,114	2,985	243	287	88	84,394
`454/9`	1.9m	1.7m	1.6m	1.8m	1.8m	1.1m	787,844	916,938	656,599	601,972	623,927	718,585	686,451	679,609	532,948	570,163
`47/48`	-	-	-	-	-	-	-	-	-	-	-	4.8m	-	2.8m	-	-
`492/3`	37,276	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income statement
`70/76A`	73.1m	71.2m	71.4m	61.9m	52.2m	44.0m	40.2m	37.1m	27.4m	28.0m	27.3m	25.9m	24.3m	-	-	22.0m
`70`	71.3m	69.5m	66.2m	58.2m	48.8m	41.9m	38.1m	35.6m	26.7m	26.9m	26.6m	25.7m	24.0m	23.2m	20.9m	21.5m
`74`	1.8m	1.7m	5.2m	3.7m	3.4m	-	-	1.5m	-	-	-	-	-	356,460	519,082	-
`60/66A`	69.7m	68.4m	69.3m	60.2m	50.4m	42.6m	38.4m	35.6m	26.8m	26.4m	26.3m	24.7m	23.0m	-	-	20.4m
`60`	38.2m	39.0m	42.1m	35.1m	28.4m	23.0m	19.3m	18.2m	14.8m	14.6m	14.7m	14.0m	12.1m	11.9m	9.7m	10.4m
`600/8`	42.0m	41.9m	39.8m	40.4m	25.9m	24.2m	21.0m	-	15.4m	14.2m	15.6m	13.5m	12.5m	-	-	10.1m
`609`	-3.8m	-2.9m	2.4m	-5.3m	2.5m	-1.2m	-1.7m	-946,143	-573,136	408,546	-902,212	491,533	-412,132	939,970	-299,755	216,138
`61`	7.3m	6.8m	7.2m	6.8m	6.0m	6.0m	6.7m	6.8m	6.1m	5.2m	5.6m	5.1m	5.0m	5.0m	5.5m	4.8m
`62`	9.5m	8.9m	8.5m	8.4m	7.7m	6.0m	5.3m	4.5m	3.3m	3.8m	3.5m	3.6m	3.9m	4.0m	3.4m	3.9m
`630`	59,247	40,857	36,086	29,483	24,575	29,654	31,252	31,952	78,921	73,954	109,393	114,550	123,860	90,445	80,037	123,017
`631/4`	-21,026	21,026	6,784	-	-12,580	-24,133	-62,596	89,034	64,718	18,103	8,276	-1,139	-4,066	-10,678	28,578	-51,660
`635/8`	-	-	-57,213	57,213	-	-	-	-	-110,000	-28,591	60,718	40,132	-201,051	-	-	-544,709
`640/8`	14.7m	13.6m	11.4m	9.8m	8.3m	7.6m	7.2m	5.9m	2.6m	2.7m	2.4m	1.9m	2.0m	1.5m	1.4m	1.7m
`66A`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	74,004
`9901`	3.4m	2.8m	2.2m	1.7m	1.7m	1.4m	1.8m	1.6m	612,607	1.6m	1.0m	1.2m	1.3m	1.2m	1.3m	1.6m
`75/76B`	2.4m	4.1m	3.3m	296,434	37	335,463	679,496	-	779,674	786,028	1.1m	1.3m	1.3m	-	-	3.4m
`75`	2.4m	4.1m	3.3m	296,434	37	335,463	679,496	650,730	779,674	786,028	1.1m	1.3m	1.3m	1.8m	1.6m	3.4m
`750`	-	-	3.3m	296,342	-	334,490	679,267	650,451	778,836	785,886	1.1m	1.3m	1.3m	1.7m	1.5m	3.3m
`751`	2.4m	4.1m	-	-	-	-	-	-	-	-	-	14,495	10,768	80,494	77,687	85,961
`752/9`	2,410	71	380	92	37	973	229	279	838	142	1,392	164	87	4,291	191	1,209
`65/66B`	141,029	125,683	78,511	67,069	91,038	71,308	56,765	59,124	30,192	29,718	37,295	35,778	39,127	-	-	49,999
`65`	141,029	125,683	78,511	67,069	91,038	71,308	56,765	59,124	30,192	29,718	37,295	35,778	39,127	40,176	46,801	49,999
`650`	96,027	73,360	32,877	21,350	22,140	22,038	23,017	25,837	25,168	25,680	32,505	31,818	34,909	36,417	43,184	45,811
`652/9`	45,002	52,323	45,634	45,719	68,898	49,270	33,749	33,287	5,024	4,037	4,790	3,961	4,218	3,759	3,617	4,188
`9903`	5.7m	6.7m	5.3m	2.0m	1.6m	1.6m	2.5m	2.2m	1.4m	2.3m	2.0m	2.5m	2.6m	2.9m	2.9m	4.9m
`67/77`	1.5m	1.6m	1.6m	575,155	485,808	505,229	800,209	695,352	463,318	481,902	368,457	22,621	13,211	50	6	318,865
`670/3`	1.5m	1.7m	1.6m	575,155	487,585	505,942	800,209	695,352	483,016	496,503	373,806	22,621	13,211	56	6	414,632
`77`	-	90,528	-	-	1,777	713	-	-	19,699	14,601	5,349	-	-	6	-	95,767
`9904`	4.2m	5.1m	3.8m	1.4m	1.2m	1.1m	1.7m	1.5m	898,771	1.9m	1.7m	2.4m	2.6m	2.9m	2.9m	4.6m
`9905`	4.2m	5.1m	3.8m	1.4m	1.2m	1.1m	1.7m	1.5m	898,771	1.9m	1.7m	2.4m	2.6m	2.9m	2.9m	4.6m
Appropriation of the result
`9906`	39.0m	35.1m	30.2m	26.5m	25.2m	24.1m	23.1m	21.5m	20.1m	19.3m	17.5m	20.7m	18.4m	18.8m	15.3m	12.6m
`14P`	34.9m	30.1m	26.5m	25.2m	24.1m	-	-	20.0m	-	-	-	-	-	15.8m	12.4m	-
`691/2`	208,502	253,417	188,668	69,327	57,809	56,776	82,880	73,113	44,939	92,983	82,516	122,360	128,517	147,178	144,166	230,008
`6920`	208,502	253,417	188,668	69,327	57,809	56,776	82,880	73,113	44,939	92,983	82,516	122,360	128,517	147,178	144,166	230,008
`694/7`	-	-	-	-	-	-	-	-	-	-	-	4.8m	-	-	-	-
`694`	-	-	-	-	-	-	-	-	-	-	-	4.8m	-	2.8m	-	-
Social balance sheet
`9087`	39.9	42.9	42.1	39.7	41.4	33.3	30.8	29.2	23.7	24.7	26.4	29.1	30.3	32	35.1	35.9
Men (FTE)`1003`	10.8	10.2	10.1	11.3	10.7	9.3	9.6	-	8.3	6.8	5.3	5	5.3	-	-	-
Women (FTE)`1003`	29.1	32.7	32	28.4	28.2	24	21.2	-	15.4	17.9	21.1	24.1	25	-	-	-
Agency workers`1501`	-	-	-	-	0.1	0.5	0.6	-	0.6	0.6	-	-	0.2	-	-	1
Hours worked`1013`	63,586	69,439	70,490	65,820	62,808	56,820	51,659	-	39,963	40,017	41,324	45,196	48,115	-	-	54,133
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The accounts for 26 older financial years (1983-2008) were filed as documents without figures as data, scans for example.

The notes to these accounts have 55 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 17-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2025	full format	17-07-2026	2026-00304691	PDF
31-12-2024	full format	11-06-2025	2025-00130949	PDF
31-12-2023	full format	04-06-2024	2024-00107772	PDF
31-12-2022	full format	09-05-2023	2023-00083163	PDF
31-12-2021	full format	18-05-2022	2022-20028786	PDF
31-12-2020	full format	26-05-2021	2021-15400216	PDF
31-12-2019	full format	15-05-2020	2020-12300376	PDF
31-12-2018	full format	14-06-2019	2019-18500388	PDF
31-12-2017	full format	04-05-2018	2018-11800366	PDF
31-12-2016	full format	28-04-2017	2017-10300269	PDF
31-12-2015	full format	19-04-2016	2016-10300577	PDF
31-12-2014	full format	11-05-2015	2015-11900481	PDF
31-12-2013	full format	14-05-2014	2014-12100167	PDF
31-12-2012	full format	21-05-2013	2013-13200343	PDF
31-12-2011	full format	22-05-2012	2012-12600103	PDF
31-12-2010	full format	24-05-2011	2011-12500151	PDF
31-12-2009	full format	27-05-2010	2010-14300392	PDF
31-12-2008	full format	10-07-2009	2009-40600122	PDF
31-12-2007	full format	23-05-2008	2008-14900122	PDF
31-12-2006	full format	27-07-2007	2007-48600145	PDF
31-12-2005	full format	22-03-2007	2007-08203589	PDF
31-12-2004	full format	10-06-2005	2005-24200117	PDF
31-12-2003	full format	14-05-2004	2004-15001149	PDF
31-12-2002	full format	27-06-2003	2003-33802368	PDF
31-12-2001	full format	06-05-2002	2002-11800275	PDF
31-12-2000	full format	22-08-2001	2001-51502716	PDF
31-12-1999	full format	31-08-2000	2000-54102275	PDF
31-12-1998	full format	28-05-1999	1999-12503644	PDF
31-12-1997	full format	12-06-1998	1998-16700534	PDF
31-12-1996	full format	04-06-1997	1997-12003654	PDF
31-12-1995	full format	06-06-1996	1996-12804381	PDF
31-12-1994	full format	26-06-1995	1995-28700663	PDF
31-12-1993	full format	17-05-1994	1994-08404781	PDF
31-12-1992	full format	11-01-1994	1994-00701639	PDF
31-12-1991	full format	22-10-1993	1993-40900397	PDF
31-12-1990	full format	14-10-1991	1991-28200942	PDF
31-12-1989	full format	16-11-1990	1990-27900859	PDF
31-12-1988	full format	11-08-1989	1989-20105297	PDF
31-12-1987	full format	14-04-1989	1989-02702473	PDF
31-12-1986	full format	14-10-1987	1987-23204259	PDF
31-12-1985	full format	16-06-1986	1986-14501641	PDF
31-12-1984	full format	24-10-1985	1985-36400640	PDF
31-12-1983	unclassified schema	26-11-1984	1984-14900905	PDF

Subsidies and aid

Flemish government 2022, 1 entry, €1,412 awarded, €1,412 paid

Vlaams opleidingsverlof (VOV)

€1,412

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2010	2009
3.5m	2.8m	2.2m	1.8m	1.8m	1.4m	1.9m	1.6m	691,528	1.7m	1.1m	1.3m	1.5m	1.3m	1.4m	1.8m
4.2m	5.1m	3.8m	1.4m	1.2m	1.2m	1.7m	1.5m	977,693	1.9m	1.8m	2.6m	2.7m	3.0m	3.0m	4.7m
363,194	105,713	38,950	78,138	44,369	15,797	18,028	20,769	26,996	45,608	9,441	25,587	54,236	113,570	20,079	14,889
-98	-	-	-	-	-	-	-	-	-1.1m	810,037	-669,354	158,804	-	-13,011	-
119.5m	115.6m	110.6m	106.8m	105.4m	104.3m	48.1m	46.5m	45.0m	20.2m	18.3m	16.5m	18.7m	-	-	12.8m
4.8%	4.0%	3.3%	3.0%	3.6%	3.3%	4.8%	4.4%	2.3%	5.9%	3.8%	4.5%	5.6%	5.0%	6.5%	7.6%
89.2%	92.2%	87.5%	85.8%	93.6%	91.3%	94.2%	93.0%	93.9%	94.8%	94.4%	90.6%	96.4%	91.9%	96.2%	95.7%
9.27	12.80	7.96	7.08	15.69	11.52	8.55	7.06	7.94	4.76	4.24	2.66	6.19	-	-	4.29
8.34	11.81	7.54	6.56	15.16	10.88	7.75	6.63	7.56	4.41	3.83	2.52	5.66	-	-	3.86
0.12	0.08	0.14	0.16	0.07	0.10	0.06	0.08	0.06	0.05	0.06	0.10	0.04	0.09	0.04	0.04
3.5%	4.4%	3.4%	1.3%	1.1%	1.1%	1.6%	1.4%	0.9%	1.9%	1.7%	2.6%	2.6%	3.1%	3.1%	5.0%
3.1%	4.0%	3.0%	1.1%	1.0%	1.0%	1.5%	1.3%	0.8%	1.8%	1.6%	2.3%	2.5%	2.8%	2.9%	4.8%
36.15	38.12	66.71	82.52	79.38	63.81	81.09	61.85	27.48	64.61	34.26	40.08	42.19	34.62	33.08	38.51
58 days	44 days	39 days	50 days	44 days	60 days	78 days	77 days	60 days	50 days	59 days	60 days	59 days	62 days	66 days	68 days
93 days	63 days	96 days	135 days	52 days	107 days	78 days	97 days	101 days	87 days	90 days	85 days	62 days	102 days	74 days	77 days

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Revenue breakdown

as filed

By geographic market 2020

België €39,989,77895.5%
Luxemburg €1,900,3954.5%

Total €41,890,174

Source: 2020 accounts, page 22, filing 2021-15400216

All years (2018 to 2020)

By geographic market	2018	2019	2020
België	€33,786,343	€36,172,460	€39,989,778
Luxemburg	€1,837,495	€1,928,408	€1,900,395
Total	€35,623,838	€38,100,868	€41,890,174

Social balance sheet

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	39	43	43	40	42
full-time	34	39	36	33	38
part-time	5	4	7	7	4
in full-time equivalents	38	42.5	42.1	38.9	41.4
	39.9	42.9	42.1	39.7	38.9
On a permanent contract	39	43	43	40	41
Joined	1	3	7	6	8
Left	5	3	4	8	4
Agency workers, average number	-	-	-	-	0.1
Training hours	474	950	652	236	768

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€356,107	€12,985	€38,950	€78,138	€44,369
Intangible fixed assets	€7,088	€92,728	-	-	-
	€59,247	€40,857	€36,086	€29,483	€24,575

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Auditor

fees

Item	2025	2024	2023	2022	2021
Fee for the audit	€20,446	€19,668	€19,000	€19,221	€17,845
Other work by the auditor	-	-	-	-	€1,890

Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)

Public contracts

2 awards · 2025 to 2026

Raamovereenkomst voor de aankoop en levering van Somatostatine analogen: Langwerkende Somatostatine analogen

buyer: VZW Maria MiddelaresMedical equipment and pharmaceuticalsawarded 04-06-2026€972,4022 tendersTED 414749-2026

Lanreotide

buyer: VITAZ vzwMedical equipment and pharmaceuticalsawarded 12-11-2025€926,2311 tenderTED 826632-2025

Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.

Insights on Ipsen

The operating result for 2025 is 24% higher than in 2024 and the highest since 2009. It is the third rise in a row, after the fall in 2022.

Debt's share of the balance-sheet total rises from 7.8% to 10.8%. Equity and debt are higher.

Next steps

Work out how much credit to give this customer and on what payment terms.Credit check Compare this company with its sector.Sector benchmark See what changed in the latest annual accounts.What changed

Annual accounts 2025

Money flows

Balance sheet

Change in equityin €m

Change in cashin €m

Position in the sector

Solvency89.2%

Current ratio9.27

Return on assets3.1%

Staff

Men and women73% women

Staff cost per FTE€237,443

Joined and left-4 people

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2022, 1 entry, €1,412 awarded, €1,412 paid

Key figures and ratios

Revenue breakdown

By geographic market 2020

Social balance sheet

Investments

Auditor

Public contracts

Insights on Ipsen

Next steps

in €m

in €m

89.2%

9.27

3.1%

€237,443

-4 people