INDAVER LOGISTICS

Active

Public limited companyfounded 197848 yrs activeBoomsesteenweg 199, 2830 Willebroek, BelgiumKBO/BCE: BE 0417.987.549

INDAVER LOGISTICS has been active since 1978 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.38M and a net result of €-203k. Equity is growing by ~3.9% per year across the filed fiscal years. Its solvency ranks better than 82% of 1769 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).

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Checked score

Score 2025

70 / 100

Healthy▼ -16 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0▼-38

Solvency100=

Growth52=

Stability100

Bankruptcy probability, 12 months

0.6% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €170k at 30 days acceptable

Liquidity ample (current ratio 2.43 against 2.32 in 2024), and 28.8% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 49

Relative position

BE, all sectors

reference

Sector 49

higher

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

71.2%

Return on assets

-6.1%

Age of the figures

8 mo

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-04-2026, 95 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

95 d early

2024

121 d early

2023

29 d early

2022

126 d early

2021

111 d early

2020

115 d early

2019

115 d early

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

07-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Turnover

€9.56M

EBIT margin

7.0%

Net result

€-203k

2024 · €199k

2020: €1.14M 2021: €631k 2022: €409k 2023: €287k 2024: €199k

2020 → 2025

Working capital

€1.38M▼ 12.2%

2024 · €1.57M

2020: €670k 2021: €28k 2022: €477k 2023: €1.07M 2024: €1.57M

2020 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€1.72M-€2.12M▲ 23.5%€2.40M▲ 13.0%€2.59M▲ 8.0%€2.38M▼ 8.0%

Operating result€828k-€550k▼ 33.6%€372k▼ 32.4%€257k▼ 31.0%€-230k

Net result€631k-€409k▼ 35.2%€287k▼ 29.9%€199k▼ 30.5%€-203k

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2025: a loss of €230k after €257k in 2024, the lowest year so far.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €3.34M

30.0%

70.0%

Fixed assets €1.00M▼ 1.6%

Current assets €2.34M▼ 15.3%

Equity and liabilities €3.34M

71.2%

28.8%

Equity €2.38M▼ 8.0%

Debt €962k▼ 19.4%

The debt ratio falls from 31.6% to 28.8%: debt falls faster than equity shrinks.

Key figures and ratios

2025 value · change against 2024

EBITDA

€140k▼

2024 · €727k

Cash flow

€168k▼

2024 · €669k

Solvency

71.2%▲

2024 · 68.4%

Current ratio

2.43▲

2024 · 2.32

Quick ratio

2.41▲

2024 · 2.29

Debt / equity

0.40▼

2024 · 0.46

ROE

-8.5%▼

2024 · 7.7%

ROA

-6.1%▼

2024 · 5.3%

Interest coverage

63.76▼

2024 · 337.04

Debt

€962k▼

2024 · €1.19M

Debt ≤ 1 year

€962k▼

2024 · €1.19M

Income taxes

€299▼

2024 · €99k

Staff costs

€2.45M▲

2024 · €2.37M

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Total assets20/58€3.78M€3.34M▼

Fixed assets21/28€1.02M€1.00M▼

Tangible fixed assets22/27€1.01M€998k▼

Financial fixed assets28€3k€3k=

Current assets29/58€2.76M€2.34M▼

Stocks & contracts in progress3€26k€22k▼

Amounts receivable within one year40/41€2.73M€2.31M▼

Cash & bank54/58€19€19=

Total equity & liabilities10/49€3.78M€3.34M▼

Equity10/15€2.59M€2.38M▼

Contributions / capital10/11€124k€124k=

Reserves13€1.54M€1.54M=

Accumulated profits (losses)14€915k€712k▼

Amounts payable17/49€1.19M€962k▼

Amounts payable within one year42/48€1.19M€962k▼

Trade debts payable within one year44€786k€471k▼

Income statement Code20242025

Gross operating margin9900€3.11M€2.61M▼

Operating result9901€257k€-230k▼

Financial income75€43k€30k▼

Financial charges65€2k€2k▲

Result before taxes9903€298k€-202k▼

Income taxes67/77€99k€299▼

Net result for the period9904€199k€-203k▼

Result to be appropriated9905€123k€176k▲

Download as CSV

Timeline · acts, filings and financial milestones

All 32Financial 2Gazette 20Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

27-04

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

06-03

State Gazette act Resignations & appointments

General meeting · Board meeting · Director resignation16 facts ▸

General meeting, 2026-01-15
Board meeting, 2026-02-06
Director resignation, Rob Kruitwagen (bestuurder)
Director discharge, Rob Kruitwagen
Auditor reappointment, 3 boekjaren (2025-2027), 2028
Power of attorney
Director appointment, Avelin BV (Director Indaver Holding NV)
Permanent representative, Jonathan Van Steelant
Director appointment, Entra Mobile BV (Director Indaver Holding NV)
Permanent representative, Dirk Michielsens
Director appointment, PDB BV (Director Indaver Holding NV)
Permanent representative, Paul De Bruycker
+4 further facts in this act

2025

31-12

Financial Weakest financial yearnet €-203k ▼202%

Net result drops to €-203k, the lowest in the series.

10-04

State Gazette act Resignations & appointments

General meeting · Director reappointment · Mandate compensation7 facts ▸

General meeting, 2025-03-20
Director reappointment, Alain Konings (bestuurder)
Mandate compensation, Alain Konings
Auditor reappointment, 2024, 2025 en 2026, gewone algemene vergadering van 2028
Director resignation, Alain Konings (bestuurder)
Auditor resignation, EY Bedrijfsrevisoren BV
Mandate compensation, EY Bedrijfsrevisoren BV

01-04

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

17-02

State Gazette act Resignations & appointments

Board meeting · Power of attorney · Director appointment125 facts ▸

Board meeting, 2025-01-22
Power of attorney, Indaver Holding NV
Director appointment, Avelin BV (Director)
Permanent representative, Jonathan Van Steelant
Director appointment, Entra Mobile BV (Director)
Permanent representative, Dirk Michielsens
Director appointment, PDB BV (Director)
Permanent representative, Paul De Bruycker
Director appointment, Gavilán Consulting BV (CEO)
Permanent representative, Karl Huts
Director appointment, Tsundoku Ventures BV (CFO)
Permanent representative, Hilde Vangilbergen
+113 further facts in this act

2024

18-09

State Gazette act Statutes amendment

General meeting · Legal-form conversion · Capital5 facts ▸

General meeting, 2024-09-03
Legal-form conversion, Naamloze vennootschap (NV)
Capital, €123.946,76
Purpose change, alle vervoer van goederen en personen in de ruimste zin opgevat, zowel voor eigen rekening als voor rekening van derden, in binnen- en buitenland; activiteiten…
Statutes amendment

11-09

State Gazette act Resignations & appointments

Board meeting · Director appointment · Director resignation3 facts ▸

Board meeting, 2024-08-01
Director appointment, Mathieu Meunier (bedrijfsleider, belast met het dagelijks bestuur)
Director resignation, Vernyns (bedrijfsleider, belast met het dagelijks bestuur)

02-07

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

20-06

State Gazette act Resignations & appointments

Board meeting1 fact ▸

Board meeting, 2024-05-06

2023

02-05

State Gazette act Resignations & appointments

General meeting · Auditor reappointment · Mandate compensation8 facts ▸

General meeting, 2022-03-17
Auditor reappointment, 2025, 2022-03-17
Mandate compensation, Ernst & Young Bedrijfsrevisoren BCVBA
General meeting, 2023-03-16
Director reappointment, Rob Kruitwagen (bestuurder)
Director reappointment, Annick Van Driessen (bestuurder)
Mandate compensation, Rob Kruitwagen
Mandate compensation, Annick Van Driessen

27-03

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

31-12

Financial Equity above €2MEq €2.12M ▲23.5%

3 profitable years in a row build equity to €2.12M.

11-04

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

07-04

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

22-12

State Gazette act Resignations & appointments

Board meeting · Director appointment4 facts ▸

Board meeting, 2020-10-21
Director appointment, Valentijn Vernyns (directeur, belast met het dagelijks bestuur)
Director appointment, Valentijn Vernyns (bedrijfsleider)
Director appointment, Valentijn Vernyns (bedrijfsleider, belast met het dagelijks bestuur)

07-04

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

23-07

State Gazette act Resignations & appointments

Board meeting · Director resignation · Director appointment8 facts ▸

Board meeting, 2018-12-19
Director resignation, Geert Maes (bestuurder)
Director appointment, Alain Konings (bestuurder)
Mandate compensation, Alain Konings
General meeting, 2019-03-21
Director reappointment, Alain Konings (bestuurder)
Auditor reappointment, 2022, 2019-03-21
Mandate compensation, Ernst & Young Bedrijfsrevisoren BCVBA

12-04

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

03-04

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

25-04

State Gazette act Resignations & appointments

General meeting · Director resignation · Director reappointment7 facts ▸

General meeting, 2017-03-16
Director resignation, Rob Kruitwagen (bestuurder)
Director resignation, Peter Vandendriessche (bestuurder)
Director resignation, Annick Van Driessen (bestuurder)
Director reappointment, Rob Kruitwagen (bestuurder)
Director reappointment, Annick Van Driessen (bestuurder)
Director resignation, Peter Vandendriessche (bestuurder)

07-04

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2016

03-06

State Gazette act Resignations & appointments

General meeting · Auditor resignation · Auditor appointment4 facts ▸

General meeting, 2016-03-17
Auditor resignation, Grant Thornton bedrijfsrevisoren CVBA
Auditor appointment, Ernst & Young Bedrijfsrevisoren BCVBA (commissaris)
Mandate compensation, Ernst & Young Bedrijfsrevisoren BCVBA

2015

16-06

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment3 facts ▸

General meeting, 2015-03-19
Director resignation, Geert Maes (bestuurder)
Director appointment, Geert Maes (bestuurder)

2013

14-05

State Gazette act Resignations & appointments

General meeting · Auditor reappointment2 facts ▸

General meeting, 2013-03-21
Auditor reappointment, commissaris, 2016

2012

24-10

State Gazette act Resignations & appointments

General meeting · Auditor appointment · Permanent representative3 facts ▸

General meeting, 2012-03-15
Auditor appointment, PKF bedrijfsrevisoren BCVBA (commissaris)
Permanent representative, Bart Meynendonckx

2011

16-06

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment10 facts ▸

General meeting, 2011-03-17
Director resignation, Willy Groffils (bestuurder)
Director resignation, Bart Goethals (bestuurder)
Director resignation, Ignace Van Haecke (bestuurder)
Director appointment, Rob (Rutgerus) Kruitwagen (bestuurder)
Director appointment, Peter Vandendriessche (bestuurder)
Director appointment, Annick Van Driessen (bestuurder)
Mandate compensation, Rob (Rutgerus) Kruitwagen
Mandate compensation, Peter Vandendriessche
Mandate compensation, Annick Van Driessen

2010

12-05

State Gazette act Resignations & appointments

General meeting · Auditor reappointment2 facts ▸

General meeting, 2010-03-18
Auditor reappointment, einde op de Gewone Algemene Vergadering van 2013, 2010-03-18

2009

20-07

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment10 facts ▸

General meeting, 2009-03-19
Director resignation, bestuurder
Director appointment, Ignace Van Haecke (bestuurder)
Director appointment, Willy Groffils (bestuurder)
Director appointment, Bart Goethals (bestuurder)
Director appointment, Geert Maes (bestuurder)
Mandate compensation, Ignace Van Haecke
Mandate compensation, Willy Groffils
Mandate compensation, Bart Goethals
Mandate compensation, Geert Maes

2007

26-07

State Gazette act Resignations & appointments

General meeting · Auditor reappointment2 facts ▸

General meeting, 2007-03-15
Auditor reappointment, Mandaat vangt aan op heden om te eindigen op de Gewone Algemene Vergadering van 2010., GAV 2010

26-07

State Gazette act Resignations & appointments

Board meeting · Power of attorney4 facts ▸

Board meeting, 2007-06-29
Power of attorney, Valentijn Vernyns
Power of attorney, Luc Van Hoof
Power of attorney, Bart Van Assche

2004

20-09

State Gazette act Resignations & appointments

General meeting · Director appointment · Mandate compensation4 facts ▸

General meeting, 2004-03-18
Director appointment, Bart Goethals (bestuurder)
Mandate compensation, Bart Goethals
Auditor reappointment, tot de Gewone Algemene Vergadering van 2007

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

97 directors, no change since 2026

Aad Koekkoeck

Officer e herkenning · since 10-01-2025

Current

Aldo De Boer

Manager strategy & development · since 10-01-2025

Current

Alexander Bom

Finance and administration manager be/ne/fr · since 10-01-2025

Current

Andreas Ellerkmann

Country manager germany · since 10-01-2025

Current

Andres Van Brecht

She manager (waste legislation) · since 10-01-2025

Current

Arian Meerkerk

Officer e herkenning · since 10-01-2025

Current

+ 84 not shown in this overview

15-01-2026 Avelin BV: Appointed as Director indaver holding nv

15-01-2026 ENTRA MOBILE BV: Appointed as Director indaver holding nv

15-01-2026 Gavilán Consulting BV: Appointed as Ceo

15-01-2026 PDB BV: Appointed as Director indaver holding nv

15-01-2026 Tsundoku Ventures BV: Appointed as Cfo

01-01-2026 Rob Kruitwagen: Resigned as Director

20-03-2025 Alain Konings: Resigned as Director

10-01-2025 Aad Koekkoeck: Appointed as Officer e herkenning

10-01-2025 Aldo De Boer: Appointed as Manager strategy & development

10-01-2025 Alexander Bom: Appointed as Finance and administration manager be/ne/fr

10-01-2025 Alexander Bom: Appointed as Controller msw benelux

10-01-2025 Alexander Bom: Appointed as Finance and administration manager msw benelux

10-01-2025 Andreas Ellerkmann: Appointed as Country manager germany

10-01-2025 Andres Van Brecht: Appointed as She manager (waste legislation)

10-01-2025 Arian Meerkerk: Appointed as Officer e herkenning

10-01-2025 Aura Visan: Appointed as R&d manager p2c

10-01-2025 Avelin BV: Appointed as Director

10-01-2025 Bart Goethals: Appointed as General manager iws

10-01-2025 Bart Goethals: Appointed as General manager bl iws

10-01-2025 Berend Zwaga: Appointed as Senior legal counsel nl

10-01-2025 Bert Vink: Appointed as Operational manager landfill & minerals

10-01-2025 Brendan Kavanagh: Appointed as Sales manager msw irl/uk

10-01-2025 Chantal Jonkers: Appointed as She manager (befr environment)

10-01-2025 Christoph Lemke: Appointed as Hr manager germany

+ 119 not shown in this overview

Location & real-estate footprint

Registered office, Willebroek · 1 establishment unit since 1999

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Boomsesteenweg 1992830 Willebroek

Ground area

5.3 ha

Building footprint

707 m²

Parcel 12040A0024/00G000, Flanders. Linked by address, not a title deed.

1 establishment unit

Boomsesteenweg 199, 2830 Willebroek

Waste collection, recovery and disposal activities

since 19992.142.836.797

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
12040A0024/00G000	Flanders	5.3 ha	1 · 707 m²	-

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Statutory auditor

7 auditors

Ernst et Young Reviseurs d'EntreprisesCurrent

Auditor

15-01-2026 → present

Show 6 earlier auditors

BCVBA PKF Bedrijfsrevisoren Statutory auditor · represented by Bart Meynendonckx succeeded by Grant Thornton, Bedrijfsrevisoren CVBA in 2013	01-01-2011 → 21-03-2013
Ernst & Young Bedrijfsrevisoren BCVBA Auditor succeeded by Ernst et Young Reviseurs d'Entreprises in 2026	17-03-2016 → 15-01-2026
Grant Thornton, Bedrijfsrevisoren CVBA Statutory auditor succeeded by Ernst & Young Bedrijfsrevisoren BCVBA in 2016	21-03-2013 → 17-03-2016
L.M.D. & Partners Auditor succeeded by LMD & Partners Bedryfsrevisoren in 2007	18-03-2004 → 15-03-2007
LMD & Partners Bedrijfsrevisoren Auditor succeeded by Grant Thornton, Bedrijfsrevisoren CVBA in 2013	18-03-2010 → 21-03-2013
LMD & Partners Bedryfsrevisoren Auditor succeeded by LMD & Partners Bedrijfsrevisoren in 2010	15-03-2007 → 18-03-2010