IPWT
ActiveFrom the official registers: KBO 7 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
IPWT has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €258,570 and a net result of €81,532. Equity is growing by about 41% per year across the filed financial years. Its solvency ranks better than 41% of 9,643 sector peers (NACE 82, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, micro format
2025 annual accounts filed late (8 days) Filed on 8 November 2025, deadline 31 October 2025 (7 months after the close on 31 March 2025, Companies Code art. 3:10). Source: NBB, 2025-00564989.
Latest annual accounts filed
Annual accounts 2025
- Financial year ended
- 31-03-2025
- Filed on
- 08-11-2025
- Format
- micro format
- Reference
- 2025-00564989
Turnover
≈ €320,000
Estimated: probably between €230,000 and €470,000
Total assets
€670,979▲ 56.9%
2024 · €427,687
Net result
€81,532▼ 33.8%
2024 · €123,246
Working capital
€68,102▼ 77.9%
2024 · €307,529
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 32% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€109,716
2025
Net result€81,532
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€670,979
2025
Equity€258,570
2025
Debt€350,460
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€68,102
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)12.2%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency38.5%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.36
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 82, Office administrative, office support and other business support 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).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€34,492-€66,099▲ 91.6%€95,246▲ 44.1%€92,468▼ 2.9%€90,945▼ 1.6%€160,895▲ 76.9%€109,716▼ 31.8%
Net result€23,179-€49,467above the sector's middle half▲ 113%€74,493above the sector's middle half▲ 50.6%€69,918above the sector's middle half▼ 6.1%€70,568above the sector's middle half▲ 0.9%€123,246above the sector's middle half▲ 74.6%€81,532above the sector's middle half▼ 33.8%
Equity€38,179-€87,646within the sector's middle half▲ 130%€65,739within the sector's middle half▼ 25.0%€134,857within the sector's middle half▲ 105%€204,625above the sector's middle half▲ 51.7%€327,871above the sector's middle half▲ 60.2%€258,570above the sector's middle half▼ 21.1%
Total assets€121,779-€177,149within the sector's middle half▲ 45.5%€243,727within the sector's middle half▲ 37.6%€222,729within the sector's middle half▼ 8.6%€301,201within the sector's middle half▲ 35.2%€427,687above the sector's middle half▲ 42.0%€670,979above the sector's middle half▲ 56.9%
Debt€83,600-€89,503▲ 7.1%€177,988▲ 98.9%€87,872▼ 50.6%€96,576▲ 9.9%€99,816▲ 3.4%€350,460▲ 251%
Working capital€27,492-€78,855within the sector's middle half▲ 187%€42,186within the sector's middle half▼ 46.5%€108,140above the sector's middle half▲ 156%€175,048above the sector's middle half▲ 61.9%€307,529above the sector's middle half▲ 75.7%€68,102within the sector's middle half▼ 77.9%
Solvency31.4%-49.5%within the sector's middle half▲ 18.1pp27.0%within the sector's middle half▼ 22.5pp60.5%within the sector's middle half▲ 33.6pp67.9%within the sector's middle half▲ 7.4pp76.7%above the sector's middle half▲ 8.7pp38.5%within the sector's middle half▼ 38.1pp
Current ratio1.49-2.15within the sector's middle half▲ 0.651.30within the sector's middle half▼ 0.852.67within the sector's middle half▲ 1.373.02within the sector's middle half▲ 0.354.18above the sector's middle half▲ 1.161.36within the sector's middle half▼ 2.82
Return on assets (ROA)19.0%-27.9%above the sector's middle half▲ 8.9pp30.6%above the sector's middle half▲ 2.6pp31.4%above the sector's middle half▲ 0.8pp23.4%within the sector's middle half▼ 8.0pp28.8%above the sector's middle half▲ 5.4pp12.2%within the sector's middle half▼ 16.7pp
above
within
below
the middle half of NACE 82, Office administrative, office support and other business support 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.
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €670,979
Fixed assets
€411,570 ▲ 18×
Current assets
€259,409 ▼ 35.8%
Equity and liabilities €670,979
Equity
€258,570 ▼ 21.1%
Provisions
€61,949
Debt
€350,460 ▲ 251%
Debt's share of the balance-sheet total rises from 23.3% to 52.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€118,829▼
2024 · €177,562
Cash flow
€90,645▼
2024 · €139,913
Debt to equity
1.36▲
2024 · 0.30
ROE
31.5%▼
2024 · 37.6%
Interest coverage
8.86▼
2024 · over 100
Debt ≤ 1 year
€191,307▲
2024 · €96,795
Debt > 1 year
€151,930▲
2024 · €2,897
Income taxes
€44,595▲
2024 · €40,085
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,779 | €8,888 | €12,414 | €13,332 | €16,282 | €16,667 | €9,113 | ▼ 45.3% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | - | €61,949 | - |
| Other operating charges640/8 | - | - | - | €643 | €1,115 | €1,119 | €3,477 | ▲ 211% |
| Gross operating margin9900 | €41,275 | €76,633 | €110,704 | €106,443 | €108,342 | €178,681 | €184,254 | ▲ 3.1% |
| Operating profit (loss)9901 | €34,492 | €66,099 | €95,246 | €92,468 | €90,945 | €160,895 | €109,716 | ▼ 31.8% |
| Financial income75/76B | - | - | - | €0 | - | €2,650 | €29,829 | ▲ 11× |
| Recurring financial income75 | - | €0 | €6 | €0 | - | €2,650 | €29,829 | ▲ 11× |
| Financial charges65/66B | - | - | - | €520 | €397 | €214 | €13,418 | ▲ 63× |
| Recurring financial charges65 | €153 | €637 | €411 | €520 | €397 | €214 | €13,418 | ▲ 63× |
| Profit (loss) for the period before taxes9903 | €34,339 | €65,462 | €94,841 | €91,949 | €90,548 | €163,330 | €126,127 | ▼ 22.8% |
| Income taxes67/77 | €11,160 | €15,995 | €20,349 | €22,031 | €19,980 | €40,085 | €44,595 | ▲ 11.3% |
| Profit (loss) for the period9904 | €23,179 | €49,467 | €74,493 | €69,918 | €70,568 | €123,246 | €81,532 | ▼ 33.8% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | €67,360 | - |
| Profit (loss) for the period to be appropriated9905 | €23,179 | €49,467 | €74,493 | €69,918 | €70,568 | €123,246 | €14,172 | ▼ 88.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €121,779 | €177,149 | €243,727 | €222,729 | €301,201 | €427,687 | €670,979 | ▲ 56.9% |
| Formation expenses20 | €879 | - | - | - | - | - | - | - |
| Fixed assets21/28 | €37,436 | €29,427 | €60,614 | €49,971 | €39,505 | €23,364 | €411,570 | ▲ 18× |
| Tangible fixed assets22/27 | €37,436 | €29,427 | €60,614 | €49,971 | €35,255 | €19,114 | €11,570 | ▼ 39.5% |
| Furniture and vehicles24 | - | - | - | €42,156 | €28,308 | €13,036 | €6,361 | ▼ 51.2% |
| Other tangible fixed assets26 | - | - | - | €7,815 | €6,946 | €6,078 | €5,209 | ▼ 14.3% |
| Financial fixed assets28 | - | - | - | - | €4,250 | €4,250 | €400,000 | ▲ 94× |
| Current assets29/58 | €83,464 | €147,722 | €183,113 | €172,757 | €261,696 | €404,323 | €259,409 | ▼ 35.8% |
| Amounts receivable within one year40/41 | €56,084 | €45,980 | €66,520 | €65,340 | €78,958 | €95,954 | €67,306 | ▼ 29.9% |
| Trade receivables40 | - | - | - | €65,340 | €78,958 | €95,954 | €63,763 | ▼ 33.5% |
| Other amounts receivable41 | - | - | - | - | - | - | €3,543 | - |
| Current investments50/53 | - | - | - | - | €100,000 | €75,000 | - | - |
| Cash at bank and in hand54/58 | €27,380 | €101,432 | €115,672 | €106,095 | €82,059 | €231,310 | €191,075 | ▼ 17.4% |
| Deferred charges and accrued income490/1 | - | - | - | €1,322 | €680 | €2,059 | €1,029 | ▼ 50.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €121,779 | €177,149 | €243,727 | €222,729 | €301,201 | €427,687 | €670,979 | ▲ 56.9% |
| Equity10/15 | €38,179 | €87,646 | €65,739 | €134,857 | €204,625 | €327,871 | €258,570 | ▼ 21.1% |
| Contributions10/11 | €15,000 | €15,000 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,159 | €1,159 | €1,159 | €1,159 | €1,159 | €1,159 | €68,519 | ▲ 59× |
| Non-distributable reserves130/1 | - | - | - | €1,159 | €1,159 | €1,159 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,159 | €1,159 | €1,159 | - | - |
| Tax-exempt reserves132 | - | - | - | - | - | - | €67,360 | - |
| Distributable reserves133 | - | - | - | - | - | - | €1,159 | - |
| Profit (loss) carried forward14 | €22,020 | €71,487 | €45,980 | €115,098 | €184,866 | €308,112 | €171,451 | ▼ 44.4% |
| Provisions and deferred taxes16 | - | - | - | - | - | - | €61,949 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | - | - | €61,949 | - |
| Environmental obligations163 | - | - | - | - | - | - | €61,949 | - |
| Amounts payable17/49 | €83,600 | €89,503 | €177,988 | €87,872 | €96,576 | €99,816 | €350,460 | ▲ 251% |
| Amounts payable after more than one year17 | €27,457 | €20,513 | €36,937 | €23,131 | €9,804 | €2,897 | €151,930 | ▲ 52× |
| Financial debts170/4 | - | - | - | €23,131 | €9,804 | €2,897 | €151,930 | ▲ 52× |
| Amounts payable within one year42/48 | €55,972 | €68,866 | €140,927 | €64,617 | €86,648 | €96,795 | €191,307 | ▲ 97.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €13,806 | €13,327 | €6,906 | €29,472 | ▲ 327% |
| Trade debts44 | €7,125 | €473 | €1,968 | €1,199 | €1,943 | €1,563 | €3,334 | ▲ 113% |
| Suppliers440/4 | - | - | - | €1,199 | €1,943 | €1,563 | €3,334 | ▲ 113% |
| Taxes, remuneration and social security45 | - | - | - | €36,236 | €15,147 | €34,754 | €19,747 | ▼ 43.2% |
| Taxes450/3 | - | - | - | €36,236 | €15,147 | €19,754 | €19,747 | = |
| Remuneration and social security454/9 | - | - | - | - | - | €15,000 | - | - |
| Other amounts payable47/48 | - | - | - | €13,376 | €56,231 | €53,572 | €138,754 | ▲ 159% |
| Accrued charges and deferred income492/3 | - | - | - | €124 | €124 | €124 | €7,224 | ▲ 58× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,179 | €49,467 | €74,493 | €69,918 | €70,568 | €123,246 | €81,532 | ▼ 33.8% |
| + Depreciation and write-downs630 | €1,779 | €8,888 | €12,414 | €13,332 | €16,282 | €16,667 | €9,113 | ▼ 45.3% |
| Operating cash flow (approximation) | €24,958 | €58,355 | €86,907 | €83,250 | €86,851 | €139,913 | €90,645 | ▼ 35.2% |
| Investment in fixed assets (approximation) | - | -€879 | -€43,601 | -€2,689 | -€5,816 | -€526 | -€397,319 | ▼ 75,402% |
| Change in cash | - | €74,052 | €14,240 | -€9,577 | -€24,036 | €149,251 | -€40,235 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 08-11-2025 | 2025-00564989 | |
| 31-03-2024 | micro format | 28-09-2024 | 2024-00487832 | |
| 31-03-2023 | micro format | 19-10-2023 | 2023-00489591 | |
| 31-03-2022 | micro format | 28-10-2022 | 2022-20479822 | |
| 31-03-2021 | micro format | 15-11-2021 | 2021-77300250 | |
| 31-03-2020 | micro format | 30-10-2020 | 2020-66600503 | |
| 31-03-2019 | micro format | 29-10-2019 | 2019-72000145 |
Similar companies · same sector, comparable size
Drukkerij Coco
BE 0808.770.459
Kortrijk · equity €258,329
MERTENS KRIS
BE 0474.588.138
Retie · equity €258,845
DIREKT MAIL SERVICE BURO
BE 0455.598.904
Genk · equity €258,261
VANNIES
BE 0798.521.618
Ichtegem · equity €259,066
LUPUS
BE 0457.693.708
Beveren-Kruibeke-Zwijndrecht · equity €259,086
Of the 11,121 active companies whose main activity is office administrative and support services (NACE 82100), figures are known for 3,617. 2,372 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.