ISP1-RG

Active

Public limited companyfounded 2010active for 16 yearsOude Graanmarkt 63, 1000 Brussel, Belgium51 active companies are registered at this addressKBO/BCE: BE 0828.165.808

Summary

ISP1-RG has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €858,850 and a net result of €956,542. Equity remains stable across the filed financial years (±0% per year). Its solvency ranks better than 30% of 350 sector peers (NACE 35, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).

Risk analysisFollow Report Compare

ISP1-RGActiveChecked score 94/100

Risk analysis Report Compare

Activity

Production of electricity from non-renewable sources

NACE 35110

1 site

Size

€4.1mturnover 2025

Equity: €858,850
Profit: €956,542

Financial health

94 Excellent Checked score 2025

Bankruptcy probabilitywithin 12 months: < 0.1%

Structure

Parent: PMF Infrastructure Fund · 80%

Pieter HensenDirector

Auditor: Forvis Mazars Réviseurs d’Entreprises2025 accounts 74 days early3 of 19 deeds summarised

Why 94raises riskEquity €858,850 (14.2% of total assets)lowers riskSize: turnover €4.1m, total assets €6.0mFounded in 2010Figures for financial year 2025 (filed 19-05-2026)Show the evidence

Checked score

Score 2025

94 / 100

Excellent

Probability in this band: under 0.55%

Financially better than 56% of its sector peers (NACE 35, small)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Average

Solvency 39+6

equity 14.2% of total assets

Liquidity 44-2

short-term debt 52.1% · cash 16.3%

Profitability 92+6

return on assets 15.8%

Bankruptcy probability, 12 months

< 0.1% Very low

0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (254 companies, NACE 35, small)

Last 24 months 11-2024: 0.1% 12-2024: 0.1%● unchanged vs 11-2024 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.1%● unchanged vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026highest value 06-2026: < 0.1%▼ -0.1 percentage points vs 05-2026lowest value 07-2026: < 0.1%● unchanged vs 06-2026lowest value 08-2026: < 0.1%● unchanged vs 07-2026lowest value 09-2026: < 0.1%● unchanged vs 08-2026lowest value 10-2026: < 0.1%● unchanged vs 09-2026lowest value

Credit of up to €80,000 on 30-day terms is acceptable

Liquidity insufficient (current ratio 0.37, compared with 0.36 in 2024, below 1; short-term debt: 52.1% and cash: 16.3% of total assets), and 85.8% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 35, small): better than 30% on solvency, 30% on liquidity, 95% on profitability and 69% on growth.

The bankruptcy probability was computed on 30-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.

lowers riskraises riskneutral

Size: turnover €4.1m, total assets €6.0m

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Equity €858,850 (14.2% of total assets)

NBB · annual accounts

Founded in 2010

Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.

KBO

Figures for financial year 2025 (filed 19-05-2026)

NBB · annual accounts

Growing equity

Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.

NBB · annual accounts 2025

Equity per financial year

1819202122232425

2018 to 2025 · latest year €858,850

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-05-2026, 74 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

74 days early

2024

73 days early

2023

63 days early

2022

69 days early

2021

67 days early

2020

42 days early

2019

66 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 65 days before the deadline; the sector median (NACE 35) for financial year 2024 is 22 days before the deadline, and 27% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 23 May (5 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

31-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

18-05-2026 Annual accounts filedfinancial year 2025 · full…
19-05-2025 Annual accounts filedfinancial year 2024 · full…
13-09-2024 Resignation: Ernst & Young Bedrijfsrevisoren (statutory…Appointment: Forvis Mazars Bedrijfsrevisoren (statutory…

Key points

Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
Positive: 8 profitable years in a rowprofit 2025: €956,542 8 years View
Controlled by PMF Infrastructure Fundknown shareholders 100% 80% View
Positive: Result rose in 2025from €652,908 to €956,542 ▲ 46.5% View

By topic

Financials

Financial year: 2025
Turnover: €4.1m
Profit: €956,542
Solvency: 14.2%

Turnover▲ 8.3%

Net result

20182025

Go to Financials

Board & ownership

Board: 1 member
Parent: PMF Infrastructure Fund · 80%
Known shareholders: 100%
Auditor: Forvis Mazars Réviseurs d’Entreprises

Pieter HensenDirector

Go to Board & ownership

Timeline

Events: 20
Since: 2012
Next accounts: by 31-07-2027

29-05-2024Annual accounts filed
24-07-2023Reappointment: Ernst & Young Bedrijfsrevisoren BV (statutory…
23-05-2023Annual accounts filed

Go to Timeline

Company details

Sites: 1

Legal form: Public limited company
Activity: Production of electricity from non-renewable sourcesNACE 35110
Founded: 27-07-2010
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Key facts about ISP1-RG

What is the company number of ISP1-RG?: 0828.165.808. In Belgium the VAT number is the company number with BE in front: BE 0828.165.808.
Where is ISP1-RG based?: The registered office is at Oude Graanmarkt 63, 1000 Brussel.Company details
What does ISP1-RG do?: According to the KBO register, the main activity is production of electricity from non-renewable sources (NACE 35110).
What is the legal form of ISP1-RG?: Public limited company (NV).
When was ISP1-RG founded?: On 27-07-2010.
Is ISP1-RG still active?: Yes, ISP1-RG is an active enterprise in the KBO register.
What is the turnover of ISP1-RG?: €4.1m in financial year 2025, according to the filed annual accounts.Financials
Is ISP1-RG profitable?: In financial year 2025, ISP1-RG made a profit of €956,542.
Where can I find the annual accounts of ISP1-RG?: ISP1-RG filed 15 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of ISP1-RG due?: By 31-07-2027, for financial year 2026.Timeline