IB-MAT
ActiveSummary
IB-MAT has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.5m and a net result of €356,366. Equity is growing by ~35.5% per year across the filed fiscal years. Its solvency ranks better than 18% of 287 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability64▼-11
Solvency46▲+3
Growth73▲+1
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €180,000 at 30 days acceptable
Liquidity tight (current ratio 1.16 against 1.08 in 2024; short-term debt: 79% and cash: 0.5% of total assets), and 79.1% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
20.9%
Return on assets
2.1%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 23
Relative position
BE, all sectors
reference
Manufacture of other non-metallic mineral products (NACE 23)
about 17% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 287 sector peers (2025).
NBB · sector comparisonPosition among 287 sector peers
Solvency
better than 18%
← weakest
strongest →
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 30-06-2026, 31 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
31 d early
2024
16 d early
2023
28 d early
2022
20 d early
2021
16 d early
2020
19 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 22 days before the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 34% of the sector filed late.
Checked, nothing found (2)
neutral · 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 monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?DESIRE STADSBADER · 20 companies How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, full schema
In the rankings
#8 company by total assets in Harelbeke, Manufacturing sector
Turnover
€13.6m▲ 14.1%
2024 · €11.9m
EBIT margin
3.1%▼ 5.8pp
2024 · 8.9%
Net result
€356,366▼ 56.5%
2024 · €819,621
Working capital
€2.1m▲ 76.9%
2024 · €1.2m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 23, Manufacture of other non-metallic mineral products, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€3.8m▼ 56.0%€7.8m▲ 103%€10.0m▲ 28.3%€11.9m▲ 19.4%€13.6m▲ 14.1%
Operating result€53,910▲ 641%€194,589▲ 261%€1.7m▲ 794%€1.1m▼ 38.8%€423,713▼ 60.2%
Net result€44,456within the sector's middle half▲ 659%€136,861within the sector's middle half▲ 208%€1.3mabove the sector's middle half▲ 878%€819,621above the sector's middle half▼ 38.8%€356,366within the sector's middle half▼ 56.5%
EBIT margin1.4%▲ 1.3pp2.5%▲ 1.1pp17.4%▲ 14.9pp8.9%▼ 8.5pp3.1%▼ 5.8pp
Equity€849,551within the sector's middle half▲ 5.5%€986,412within the sector's middle half▲ 16.1%€2.3mwithin the sector's middle half▲ 136%€3.1mwithin the sector's middle half▲ 35.3%€3.5mwithin the sector's middle half▲ 11.3%
Total assets€3.4mwithin the sector's middle half▲ 22.6%€4.9mwithin the sector's middle half▲ 41.3%€13.8mwithin the sector's middle half▲ 183%€17.6mabove the sector's middle half▲ 28.0%€16.8mabove the sector's middle half▼ 4.9%
Debt€2.6m▲ 29.4%€3.9m▲ 49.5%€11.4m▲ 195%€14.5m▲ 26.5%€13.3m▼ 8.4%
Working capital€1.1mwithin the sector's middle half▼ 4.1%€2.2mwithin the sector's middle half▲ 104%-€136,347below the sector's middle half€1.2mwithin the sector's middle half€2.1mwithin the sector's middle half▲ 76.9%
Solvency24.6%within the sector's middle half▼ 4.0pp20.3%below the sector's middle half▼ 4.4pp16.9%below the sector's middle half▼ 3.4pp17.8%below the sector's middle half▲ 1.0pp20.9%below the sector's middle half▲ 3.0pp
Current ratio1.53within the sector's middle half▼ 0.371.91within the sector's middle half▲ 0.380.99below the sector's middle half▼ 0.921.08within the sector's middle half▲ 0.091.16within the sector's middle half▲ 0.08
Return on assets (ROA)1.3%within the sector's middle half▲ 1.1pp2.8%within the sector's middle half▲ 1.5pp9.7%above the sector's middle half▲ 6.9pp4.7%within the sector's middle half▼ 5.1pp2.1%within the sector's middle half▼ 2.5pp
above
within
below
the middle half (P25 to P75) of NACE 23, Manufacture of other non-metallic mineral products, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 60% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €16.8m
Fixed assets
€1.4m ▼ 27.8%
Current assets
€15.3m ▼ 2.1%
Equity and liabilities €16.8m
Equity
€3.5m ▲ 11.3%
Debt
€13.3m ▼ 8.4%
Debt's share of the balance-sheet total falls from 82.2% to 79.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€967,240▼
2024 · €1.6m
Cash flow
€899,893▼
2024 · €1.4m
Quick ratio
1.15▲
2024 · 1.07
Debt to equity
3.79▼
2024 · 4.60
ROE
10.2%▼
2024 · 26.1%
Interest coverage
463.57▼
2024 · 2793.98
Debt ≤ 1 year
€13.2m▼
2024 · €14.5m
Income taxes
€117,567▼
2024 · €273,979
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 144 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 97% are still going.
- Medium-sized
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
0.7%
went bankrupt
2.1%
stopped otherwise
97%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 144 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €3.8m | €7.8m | €10.0m | €11.9m | €13.6m | ▲ 14.1% |
| Turnover70 | €3.8m | €7.8m | €10.0m | €11.9m | €13.6m | ▲ 14.1% |
| Operating charges60/66A | €3.8m | €7.6m | €8.3m | €10.9m | €13.2m | ▲ 21.4% |
| Goods for resale, raw materials and consumables60 | €2.2m | €6.5m | €6.8m | €9.0m | €11.3m | ▲ 24.8% |
| Purchases600/8 | €2.3m | €6.4m | €6.8m | €9.0m | €11.3m | ▲ 24.7% |
| Change in stocks: decrease (increase)609 | -€53,103 | €72,786 | €36,975 | -€1,861 | €5,951 | ▲ 420% |
| Services and other goods61 | €1.4m | €1.0m | €1.3m | €1.3m | €1.4m | ▲ 10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €84,890 | €87,782 | €149,766 | €584,947 | €543,527 | ▼ 7.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €2,997 | €4,315 | - | -€4,315 | - | - |
| Other operating charges640/8 | €350 | €1,301 | €1,075 | €2,780 | €1,798 | ▼ 35.3% |
| Non-recurring operating charges66A | €19,346 | - | - | - | - | - |
| Operating profit (loss)9901 | €53,910 | €194,589 | €1.7m | €1.1m | €423,713 | ▼ 60.2% |
| Financial income75/76B | €8,836 | €18,065 | €20,127 | €30,270 | €52,911 | ▲ 74.8% |
| Recurring financial income75 | €8,836 | €18,065 | €20,127 | €30,270 | €52,911 | ▲ 74.8% |
| Income from financial fixed assets750 | - | - | - | €781 | €11,390 | ▲ 1,359% |
| Income from current assets751 | - | - | €3,238 | - | - | - |
| Other financial income752/9 | €8,836 | €18,065 | €16,889 | €29,489 | €41,521 | ▲ 40.8% |
| Financial charges65/66B | €1,807 | €1,531 | €588 | €592 | €2,691 | ▲ 355% |
| Recurring financial charges65 | €1,807 | €1,531 | €588 | €592 | €2,691 | ▲ 355% |
| Debt charges650 | €1,807 | €1,528 | - | €590 | €2,086 | ▲ 254% |
| Other financial charges652/9 | €0 | €3 | €588 | €2 | €604 | ▲ 35,027% |
| Profit (loss) for the period before taxes9903 | €60,938 | €211,124 | €1.8m | €1.1m | €473,933 | ▼ 56.7% |
| Income taxes67/77 | €16,482 | €74,263 | €420,544 | €273,979 | €117,567 | ▼ 57.1% |
| Taxes670/3 | €16,482 | €74,263 | €440,000 | €274,250 | €118,417 | ▼ 56.8% |
| Tax adjustments and reversals of tax provisions77 | - | - | €19,456 | €271 | €850 | ▲ 214% |
| Profit (loss) for the period9904 | €44,456 | €136,861 | €1.3m | €819,621 | €356,366 | ▼ 56.5% |
| Profit (loss) for the period to be appropriated9905 | €44,456 | €136,861 | €1.3m | €819,621 | €356,366 | ▼ 56.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.4m | €4.9m | €13.8m | €17.6m | €16.8m | ▼ 4.9% |
| Fixed assets21/28 | €310,611 | €232,049 | €2.5m | €2.0m | €1.4m | ▼ 27.8% |
| Tangible fixed assets22/27 | €310,611 | €232,049 | €2.5m | €2.0m | €1.4m | ▼ 27.8% |
| Plant, machinery and equipment23 | €310,611 | €232,049 | €2.5m | €2.0m | €1.4m | ▼ 27.8% |
| Current assets29/58 | €3.1m | €4.6m | €11.2m | €15.7m | €15.3m | ▼ 2.1% |
| Stocks and contracts in progress3 | €292,582 | €219,796 | €182,821 | €184,681 | €178,731 | ▼ 3.2% |
| Stocks30/36 | €292,582 | €219,796 | €182,821 | €184,681 | €178,731 | ▼ 3.2% |
| Raw materials and consumables30/31 | €292,582 | €219,796 | €182,821 | €184,681 | €178,731 | ▼ 3.2% |
| Amounts receivable within one year40/41 | €2.1m | €3.9m | €11.0m | €14.8m | €14.7m | ▼ 0.6% |
| Trade receivables40 | €2.1m | €3.9m | €10.9m | €14.7m | €14.7m | ▲ 0.1% |
| Other amounts receivable41 | €746 | €65,709 | €110,000 | €117,354 | €7,850 | ▼ 93.3% |
| Current investments50/53 | - | - | - | €590,000 | €400,000 | ▼ 32.2% |
| Other investments51/53 | - | - | - | €590,000 | €400,000 | ▼ 32.2% |
| Cash at bank and in hand54/58 | €702,373 | €484,468 | €2,448 | €118,147 | €79,744 | ▼ 32.5% |
| Deferred charges and accrued income490/1 | - | - | €25,000 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.4m | €4.9m | €13.8m | €17.6m | €16.8m | ▼ 4.9% |
| Equity10/15 | €849,551 | €986,412 | €2.3m | €3.1m | €3.5m | ▲ 11.3% |
| Contributions10/11 | €137,848 | €137,848 | €137,848 | €137,848 | €137,848 | = |
| Capital10 | €137,848 | €137,848 | €137,848 | €137,848 | €137,848 | = |
| Issued capital100 | €137,848 | €137,848 | €137,848 | €137,848 | €137,848 | = |
| Reserves13 | €275,172 | €275,172 | €275,172 | €275,172 | €275,172 | = |
| Non-distributable reserves130/1 | €13,785 | €13,785 | €13,785 | €13,785 | €13,785 | = |
| Legal reserve130 | €13,785 | €13,785 | €13,785 | €13,785 | €13,785 | = |
| Tax-exempt reserves132 | €261,387 | €261,387 | €261,387 | €261,387 | €261,387 | = |
| Profit (loss) carried forward14 | €436,530 | €573,391 | €1.9m | €2.7m | €3.1m | ▲ 13.0% |
| Amounts payable17/49 | €2.6m | €3.9m | €11.4m | €14.5m | €13.3m | ▼ 8.4% |
| Amounts payable within one year42/48 | €2.1m | €2.4m | €11.4m | €14.5m | €13.2m | ▼ 8.6% |
| Trade debts44 | €2.0m | €2.4m | €3.5m | €1.5m | €2.2m | ▲ 49.7% |
| Suppliers440/4 | €2.0m | €2.4m | €3.5m | €1.5m | €2.2m | ▲ 49.7% |
| Advances received on contracts in progress46 | - | - | €7.9m | €13.0m | €11.0m | ▼ 15.4% |
| Taxes, remuneration and social security45 | €18,482 | €70,263 | - | - | €21,000 | - |
| Taxes450/3 | €18,482 | €70,263 | - | - | €21,000 | - |
| Accrued charges and deferred income492/3 | €544,022 | €1.5m | €79,850 | €2,750 | €18,475 | ▲ 572% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44,456 | €136,861 | €1.3m | €819,621 | €356,366 | ▼ 56.5% |
| + Depreciation and write-downs630 | €84,890 | €87,782 | €149,766 | €584,947 | €543,527 | ▼ 7.1% |
| Operating cash flow (approximation) | €129,347 | €224,643 | €1.5m | €1.4m | €899,893 | ▼ 35.9% |
| Investment in fixed assets (approximation) | - | -€9,220 | -€2.5m | €0 | €0 | - |
| Change in cash | - | -€217,905 | -€482,020 | €115,699 | -€38,403 | ▼ 133% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2020net €1.3m ▲878%
Operating result €1.7m, net result €1.3m, both a record.
31-12
Financial
Equity above €2mEq €2.3m ▲136%
4 profitable years in a row build equity to €2.3m.
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Harelbeke · 1 establishment unit since 2019
Ground area
6,085 m²
Building footprint
1,427 m²
Volume, LiDAR
7,055 m³
Parcel 34322C0676/00X000, Flanders · tallest building 10.6 m, ±2 floors. Linked by address, not a title deed.
52
companies at this address
See who is registered here
1 establishment unit
IB-MAT
since 20192.299.750.531
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34322C0676/00X000 | Flanders | 6,085 m² | 1 · 1,426 m² | 10.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
DESIRE STADSBADER
20 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- DESIRE STADSBADER
- STADSBADER
- IB-MAT
Highest known parent: DESIRE STADSBADER. The sources do not say who stands above it.
Owners 1
- STADSBADERparentSourceaccounts STADSBADER 202599.92%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 401 companies in sector 23610 we hold annual accounts for 315. 210 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded26-10-2019
Fiscal year end31-12
Activities, NACEBEL 2025
23610Manufacture of other non-metallic mineral products
23630Manufacture of other non-metallic mineral products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0736813384
Also
9925:BE0736813384
Registered
26-03-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.