I-LAND

Active

Public limited companyfounded 201214 yrs activeVredestraat 53, 8790 Waregem, BelgiumKBO/BCE: BE 0843.508.634

I-LAND has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €70k and a net result of €-10k. Equity remains stable across the filed fiscal years (±0.1% per year). The computed 12-month bankruptcy probability is 1.0% (low).

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Checked score

Score 2024

42 / 100

Weak▼ -20 vs 2023

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

Axes · tick = 2023

Profitability11▼-83

Solvency34▼-3

Growth22▼-13

Stability100

Bankruptcy probability, 12 months

1.0% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €3k at 30 days only on tighter terms

Liquidity ample (current ratio 73.92 against 29.15 in 2023), but 99.7% 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

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

−lowers risk+raises risk○neutral

No NACE activity registered

No NACE activity is registered in the KBO, which is more common among companies that later fail.

KBO · activities

Lower-risk legal form

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

KBO · legal form

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

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

0.3%

Return on assets

Age of the figures

20 mo

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-06-2025, 34 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

34 d early

2023

30 d early

2022

26 d early

2021

18 d early

2020

32 d early

2019

15 d early

← before the deadline after the 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 2024, full schema

Turnover

€1.70M▼ 7.2%

2023 · €1.83M

2018: €8.08M 2019: €8.86M 2020: €7.98M 2021: €4.57M 2022: €3.81M 2023: €1.83M

2018 → 2024

EBIT margin

1.7%▼ 18.4pp

2023 · 20.0%

2018: 20.8% 2019: 42.7% 2020: 35.4% 2021: 35.0% 2022: 16.4% 2023: 20.0%

2018 → 2024

Net result

€-10k

2023 · €234k

2018: €1.20M 2019: €2.67M 2020: €2.10M 2021: €1.18M 2022: €442k 2023: €234k

2018 → 2024

Working capital

€26.87M▲ 48.7%

2023 · €18.07M

2018: €4.83M 2019: €3.37M 2020: €3.09M 2021: €3.20M 2022: €15.04M 2023: €18.07M

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€7.98M-€4.57M▼ 42.8%€3.81M▼ 16.6%€1.83M▼ 51.9%€1.70M▼ 7.2%

Equity€810k-€924k▲ 14.1%€906k▼ 1.9%€906k▼ 0.1%€70k▼ 92.2%

Operating result€2.82M-€1.60M▼ 43.4%€626k▼ 60.8%€368k▼ 41.3%€28k▼ 92.3%

Net result€2.10M-€1.18M▼ 43.7%€442k▼ 62.7%€234k▼ 47.0%€-10k

Result per fiscal year

Operating resultNet result

The operating result has fallen four years in a row; 2024 is 92% below 2023 and is the lowest year so far.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €27.31M

99.7%

Fixed assets €77k=

Current assets €27.23M▲ 45.6%

Equity and liabilities €27.31M

99.7%

Equity €70k▼ 92.2%

Debt €27.24M▲ 52.3%

The debt ratio rises from 95.2% to 99.7%: debt grows while equity shrinks.

Key figures and ratios

2024 value · change against 2023

Solvency

0.3%▼

2023 · 4.8%

Current ratio

73.92▲

2023 · 29.15

Quick ratio

1.58▼

2023 · 2.96

ROE

-14.8%▼

2023 · 25.9%

ROA

0.0%▼

2023 · 1.2%

Debt

€27.24M▲

2023 · €17.88M

Debt ≤ 1 year

€368k▼

2023 · €642k

Debt > 1 year

€25.66M▲

2023 · €16.44M

Income taxes

€0▼

2023 · €79k

A ratio outside any meaningful range has been withheld (balance sheet total €27.31M, equity €70k).

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€18.79M€27.31M▲

Fixed assets21/28€77k€77k=

Financial fixed assets28€77k€77k=

Other financial fixed assets284/8€77k€77k=

Amounts receivable and cash guarantees285/8€77k€77k=

Current assets29/58€18.71M€27.23M▲

Stocks and contracts in progress3€16.81M€26.65M▲

Stocks30/36€16.81M€26.65M▲

Property held for sale35€16.81M€26.65M▲

Amounts receivable within one year40/41€967k€405k▼

Trade receivables40€659k€382k▼

Other amounts receivable41€309k€23k▼

Cash at bank and in hand54/58€888k€114k▼

Deferred charges and accrued income490/1€43k€64k▲

Equity and liabilities

Total equity and liabilities10/49€18.79M€27.31M▲

Equity10/15€906k€70k▼

Contributions10/11€62k€62k=

Capital10€62k€62k=

Issued capital100€62k€62k=

Reserves13€844k€9k▼

Non-distributable reserves130/1€6k€6k=

Legal reserve130€6k€6k=

Distributable reserves133€838k€3k▼

Amounts payable17/49€17.88M€27.24M▲

Amounts payable after more than one year17€16.44M€25.66M▲

Financial debts170/4€16.44M€25.66M▲

Credit institutions173€10.89M€17.63M▲

Other loans174€5.55M€8.03M▲

Other amounts payable178/9-€120

Amounts payable within one year42/48€642k€368k▼

Financial debts43€17k€0▼

Credit institutions430/8€17k€0▼

Trade debts44€328k€368k▲

Suppliers440/4€328k€368k▲

Taxes, remuneration and social security45€2k€0▼

Taxes450/3€2k€0▼

Other amounts payable47/48€295k€0▼

Accrued charges and deferred income492/3€800k€1.22M▲

Income statement Code20232024

Operating income70/76A€3.48M€10.33M▲

Turnover70€1.83M€1.70M▼

Change in stocks of work in progress, finished goods and contracts in progress71€1.55M€8.48M▲

Other operating income74€96k€140k▲

Operating charges60/66A€3.11M€10.30M▲

Goods for resale, raw materials and consumables60€2.92M€10.21M▲

Purchases600/8€2.92M€10.21M▲

Services and other goods61€98k€44k▼

Other operating charges640/8€94k€42k▼

Operating profit (loss)9901€368k€28k▼

Financial income75/76B€7k€15k▲

Recurring financial income75€7k€15k▲

Income from current assets751€7k€15k▲

Other financial income752/9€0€287▲

Financial charges65/66B€61k€54k▼

Recurring financial charges65€61k€54k▼

Debt charges650€54k€47k▼

Other financial charges652/9€7k€7k▼

Profit (loss) for the period before taxes9903€313k€-10k▼

Income taxes67/77€79k€0▼

Taxes670/3€79k€0▼

Tax adjustments and reversals of tax provisions77€0-

Profit (loss) for the period9904€234k€-10k▼

Profit (loss) for the period to be appropriated9905€234k€-10k▼

Appropriation of the result

Profit (loss) to be appropriated9906€234k€-10k▼

Transfer from equity791/2€649€835k▲

From reserves792€649€835k▲

Profit to be distributed694/7€235k€825k▲

Return on contributions (dividend)694€235k€825k▲

The notes to these accounts (37 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 15Financial 4Gazette 1Filings 10

2026

28-07

State Gazette act Resignations & appointments

General meeting · Director reappointment · Mandate compensation7 facts ▸

General meeting, 09/06/2026
Director reappointment, Davy Demuynck (bestuurder)
Director reappointment, Kristof Vanfleteren (bestuurder)
Director reappointment, Paul Thiers (bestuurder)
Mandate compensation, Davy Demuynck
Mandate compensation, Kristof Vanfleteren
Mandate compensation, Paul Thiers

2025

27-06

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

31-12

Financial Weakest financial yearnet €-10k ▼104%

Net result drops to €-10k, the lowest in the series.

31-12

Financial Liquidity triplescurrent ratio 73.92

Current ratio from 29.15 to 73.92; short-term debt falls from €642k to €368k.

01-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

05-07

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

31-12

Financial Liquidity times 9current ratio 14.87

Current ratio from 1.63 to 14.87; short-term debt falls from €5.12M to €1.08M.

13-07

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

29-06

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

16-07

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

31-12

Financial Highest result since 2018net €2.67M ▲122%

Operating result €3.78M, net result €2.67M, both a record.

28-06

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

27-06

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

04-07

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2016

13-07

NBB filing Annual accounts filed

fiscal year 2015 · full schema

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

Directors · office · real estate

Directors

under verification, no change since 2026

This board is reconstructed from a single act (26097245). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.

Davy DEMUYNCK

Director · since 09-06-2026

Current

Kristof VANFLETEREN

Director · since 09-06-2026

Current

THIERS Paul

Director · since 09-06-2026

Current

09-06-2026 Davy DEMUYNCK: Mandate renewed as Director

09-06-2026 Kristof VANFLETEREN: Mandate renewed as Director

09-06-2026 THIERS Paul: Mandate renewed as Director