Equity
€10.6m ▼ 9.4%
IZEN ENERGY SYSTEMS paid out €2.5m in dividends. That is 179% of the 2025 profit.
IZEN ENERGY SYSTEMS
Lifetime
19 annual accounts with figures on one time axis, 27 filings since 1998peak €74.0m (2023)
€43.5m▲ 10.1%
lowest -€3.9m (2022)
€1.4m▲ 75.9%
peak €16.5m (2021)
€10.6m▼ 9.4%
€11.7m▲ 4.2%
peak 140.3 FTE (2022)
57.3 FTE▼ 19.4%
Board18 names since 2019all names
6 directorsEdwin Samyn and 5 others
Owners2 names in the annual accounts
Documentsfilings and deeds
01-07-202630 days before the deadline
2025financial year
Result from €794,113 to €1.4mStaff from 71.1 FTE to 57.3 FTEDemerger proposal: IZEN ENERGY SYSTEMS splits off to CEGELEC… 17-11Reappointments: Edwin Samyn (director) and Eddy Vandersmissen… 30-10New statutory auditor 24-09Resignation: Marc LEMAIRE (director) 28-01
Key points
from the 2025 annual accountsResult
€1.4m ▲ 75.9%
The result rose in 2025 from €794,113 to €1.4m.
Staff
57.3 FTE from 140.3 in 2022
Between 2022 and 2025, 59% of the full-time equivalents disappeared.
Payment terms
30 days to suppliers
IZEN ENERGY SYSTEMS pays its suppliers 3 days earlier than in 2024. Customers pay 34 days earlier.
Restructuring
2026
Restructuring with CEGELEC INFRA TECHNICS. Restructuring on 01-01-2026.
Board
1 joined
New director. Latest change 01-01-2026 · 6 in office.
Checked score
96
Excellent
Financially stronger than 65% of medium-sized companies in machinery and equipment (NACE 28)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 101 companies (NACE 28, medium-sized).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.7%
01-2025: 0.7%● unchanged vs 12-2024
02-2025: 0.7%● unchanged vs 01-2025
03-2025: 0.7%● unchanged vs 02-2025
04-2025: 0.7%● unchanged vs 03-2025
05-2025: 0.7%● unchanged vs 04-2025
06-2025: 0.7%● unchanged vs 05-2025
07-2025: 0.8%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 0.2%▼ -0.6 percentage points vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.3%▲ +0.1 percentage points vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.1%▼ -0.2 percentage points vs 07-2026lowest value
09-2026: 0.1%● unchanged vs 08-2026lowest value
10-2026: 0.1%● unchanged vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
1 change of registered office in 24 months
lowers risk
Liquidity: current ratio 2.01, cash €18.8m
Size: turnover €43.5m, 57.3 FTE, total assets €24.0m
Founded in 1997
Calculation
The band follows from the bankruptcy probability. 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 28, medium-sized). It does better than 64% of them on solvency, 96% on liquidity, 52% on profitability and 49% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,579 companies had the same profile as IZEN ENERGY SYSTEMS has now. Each dot stands for 4 companies, two years later.
96.6%
were still trading
3.2%
stopped another way
0.1%
went bankrupt
That fits the bankruptcy probability of IZEN ENERGY SYSTEMS itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,579 companies, not a prediction for IZEN ENERGY SYSTEMS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €1,000,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.01 (2.17 in 2024), above the usual 1.5. Short-term debt is 48.9% and cash 78.5% of total assets. However, 55.7% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 days early
2024
23 days early
2023
30 days early
2022
18 days early
2021
100 days late
2020
4 days late
2019
15 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 2 days before the deadline. In the sector (NACE 28), the median for financial year 2024 was 11 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · 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 8 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
and 1 other
- VINCI ENERGIES BELGIUM 100%equity €265.7m (2025) · annual accounts 2025
Recent changes
Registered office moved from Lille to Kasterlee
New registered office: Poederleesteenweg 94, te 2460 Kasterlee · Previous registered office: Hoeksken 56, 2275 Lille · General meeting of 12-06-2026 · Gazette deed
Capital increase of €357,178 to €1,164,528
Capital after the increase: €1,164,528 · General meeting of 13-03-2026 · Gazette deed
Appointment: Yannick Heylen (director)
General meeting of 02-01-2026 · Gazette deed
Demerger: CEGELEC INFRA TECHNICS splits off to IZEN ENERGY SYSTEMS
Capital increase to €1,112,663 · Capital from €807,350 to €1,112,663, 806 new shares · “Productie,installatie,beheer en verhuur van zonne-collectoren,zonneboilers,allerhande toepassingen van…” (deed in Dutch) · General meeting of 19-12-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| IZEN ENERGY SYSTEMS Kasterlee | €43.5m | 2.8% | 44.3% | 57.3 |
| Spiromatic Nazareth-De Pinte | €48.6m | 3.2% | 29.7% | 102.1 |
| ARCO Lokeren | €28.9m | 0.4% | 49.1% | 113.4 |
| Alfa Technical Installations Lokeren | €36.6m | 1.4% | 23.1% | 99.7 |
| Mac Valves Europe Inc. Michigan | €34.0m | 14.1% | 47.3% | 87.4 |
| SKT Ypres | €49.1m | 9.1% | 48.8% | 85.3 |
| TECHNIGROUP Herentals | €24.6m | 9.8% | 29.5% | 103.9 |
Grey: the largest companies of the sector (machinery and equipment (NACE 28)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as IZEN ENERGY SYSTEMS: manufacture of machinery and equipment not elsewhere classified (NACE 28250). They are comparable in size and age: total assets between €12m and €38m, founded between 1968 and 2002.
Official details
Source: KBO- Status
- Active since 25-11-1997Normal situation
- Activity
- Manufacture of machinery and equipment not elsewhere classifiedNACE 28250and 2 others
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment units
- 2.084.413.9942460 Kasterlee, since 19-07-2001
- 2.382.846.2732800 Mechelen, since 01-01-2026and 2 others
- Financial year end
- 31 December
- Peppol
- Reachable since 28-02-2022
Annual accounts 2025
- €24.0m▼ 3.2%
- Employeeson 31-12-2025
- 61=
- Filing
- Filed on 01-07-2026, 30 days before the end of the filing period
Insights on IZEN ENERGY SYSTEMS
IZEN ENERGY SYSTEMS has existed since 1997. Turnover fell from €68.5m in 2012 to €26.4m in 2013. The previous financial year ran 18 months, this one 12.
VINCI ENERGIES BELGIUM holds all the shares. In December 2022, three directors stepped down. In September 2022, the Official Gazette published the appointment of Bart Van Der Meersch as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about IZEN ENERGY SYSTEMS
- What is the company number of IZEN ENERGY SYSTEMS?
- The company number of IZEN ENERGY SYSTEMS is 0461.969.032. The VAT number is the same number with BE in front: BE 0461.969.032.
- Where is IZEN ENERGY SYSTEMS based?
- The registered office is at Poederleesteenweg 94, 2460 Kasterlee.Company details
- What does IZEN ENERGY SYSTEMS do?
- According to the KBO register, the main activity is manufacture of machinery and equipment not elsewhere classified (NACE 28250).
- What is the legal form of IZEN ENERGY SYSTEMS?
- IZEN ENERGY SYSTEMS is a public limited company (NV).
- When was IZEN ENERGY SYSTEMS founded?
- IZEN ENERGY SYSTEMS was founded on 25-11-1997.
- Is IZEN ENERGY SYSTEMS still active?
- Yes, IZEN ENERGY SYSTEMS is an active enterprise in the KBO register.
- How many employees does IZEN ENERGY SYSTEMS have?
- IZEN ENERGY SYSTEMS had an average of 57.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does IZEN ENERGY SYSTEMS fall under?
- In its 2025 annual accounts, IZEN ENERGY SYSTEMS states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of IZEN ENERGY SYSTEMS?
- The turnover of IZEN ENERGY SYSTEMS was €43.5m in financial year 2025, according to the filed annual accounts.
- Is IZEN ENERGY SYSTEMS profitable?
- In financial year 2025, IZEN ENERGY SYSTEMS made a profit of €1.4m.
- Where can I find the annual accounts of IZEN ENERGY SYSTEMS?
- IZEN ENERGY SYSTEMS filed 30 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of IZEN ENERGY SYSTEMS due?
- IZEN ENERGY SYSTEMS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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