Losses
-€21,160 in three years
Every financial year from 2023 to 2025 closed with a loss. 2024 was the heaviest.
IBAT
Lifetime
16 annual accounts with figures on one time axisGross marginpeak €21,613 (2021)
€5,020▲ €10,994
Resultlowest -€13,324 (2024)
-€1,478▲ €11,846
Equitypeak €29,248 (2022)
€8,088▼ 15.5%
Debts
€7,737▼ 63.9%
Documentsfilings and deeds
26-08-202626 days late
2025abbreviated format
Gross margin from -€5,974 to €5,020Loss of €1,478Equity from €9,566 to €8,088Debts from €21,461 to €7,737
Key points
from the 2025 annual accountsLiquidity
1.40 was 0.75 in 2024
Short-term debts fell from €21,004 to €7,737.
Position in the sector
€8,088
Less equity than 90% of companies in specialised construction. Sector median €251,011 · 9,928 companies.
2025 accounts filed 26 days after the deadline
Checked score
66
Healthy
Financially stronger than 35% of micro companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,685 companies (NACE 43, micro).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.1%
01-2025: 1.1%● unchanged vs 12-2024
02-2025: 1.1%● unchanged vs 01-2025
03-2025: 1.1%● unchanged vs 02-2025
04-2025: 1.2%▲ +0.1 percentage points vs 03-2025
05-2025: 1.1%▼ -0.1 percentage points vs 04-2025
06-2025: 1.1%● unchanged vs 05-2025
07-2025: 1.3%▲ +0.2 percentage points vs 06-2025
08-2025: 1.8%▲ +0.5 percentage points vs 07-2025highest value
09-2025: 0.8%▼ -1.0 percentage point vs 08-2025lowest value
10-2025: 0.8%● unchanged vs 09-2025lowest value
11-2025: 0.8%● unchanged vs 10-2025lowest value
12-2025: 0.9%▲ +0.1 percentage points vs 11-2025
01-2026: 0.9%● unchanged vs 12-2025
02-2026: 0.9%● unchanged vs 01-2026
03-2026: 0.9%● unchanged vs 02-2026
04-2026: 0.9%● unchanged vs 03-2026
05-2026: 0.9%● unchanged vs 04-2026
06-2026: 0.9%● unchanged vs 05-2026
07-2026: 1.0%▲ +0.1 percentage points vs 06-2026
08-2026: 1.5%▲ +0.5 percentage points vs 07-2026
09-2026: 0.9%▼ -0.6 percentage points vs 08-2026
10-2026: 0.9%● unchanged vs 09-2026
11-2026: 0.9%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Loss of €1,478, the second in a row (financial year 2025)
Sector: Specialised construction activities (NACE 43)
Liquidity: current ratio 1.40
lowers risk
Size: total assets €15,825
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 43, micro). It does better than 56% of them on solvency, 46% on liquidity, 16% on profitability and 21% on growth.
The bankruptcy probability was computed on 04-11-2026 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 low class on 30-06-2025, 0.8% 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, 6,908 companies had the same profile as IBAT has now. Each dot stands for 18 companies, two years later.
90.9%
were still trading
7.8%
stopped another way
1.1%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IBAT itself: 0.9% within 12 months.
Test of the method
The method was tested on the 497,446 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 6,908 companies, not a prediction for IBAT. 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 €500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.4 (0.75 in 2024), below the usual 1.5. Short-term debt is 48.9% of total assets. 48.9% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€1,478
raises risk · 2025 accounts filed 26 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
26 days late
2024
30 days late
2023
26 days late
2022
27 days late
2021
27 days late
2020
30 days late
2019
85 days late
← 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 36 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% 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 27 August (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0898270973
Incorporation
published on 11-06-2008 · Gazette deed
First establishment
Witte Patersstraat 35, Etterbeek
Comparable companies
same main activity, similar in size and age| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| IBAT Seraing | €15,825 | €5,020 | 51.1% | - |
| MARTENS EN CO Zele | €14,191 | €6,555 | -114.0% | - |
| VERLAECKT Zele | €22,494 | €4,893 | 25.9% | - |
| PROGER GROUP Wezembeek-Oppem | €19,024 | €3,360 | 32.8% | - |
| Carres Cleaning Ranst | €15,245 | €3,076 | 34.3% | - |
| NETTO CLEANING Nandrin | €23,049 | €4,058 | 90.9% | - |
| Peter Indeherberge Zonhoven | €18,891 | €7,569 | -326.0% | - |
These companies have the same main activity as IBAT: other building finishing work (NACE 43350). They are comparable in size and age: total assets between €14,200 and €23,000, founded between 2008 and 2015.
Official details
Source: KBO- Status
- Active since 02-06-2008Normal situation
- Activity
- Other building finishing workNACE 43350
- Establishment unit
- 2.171.227.1151040 Etterbeek, since 29-05-2008
- Financial year end
- 31 December
- Peppol
- Reachable since 29-12-2025
Annual accounts 2025
- Turnover
- ≈ €52,000estimated
- Total assets
- €15,825▼ 49.0%
- Filing
- Filed on 26-08-2026
Insights on IBAT
IBAT files the abbreviated format. That format states no turnover. The gross margin fell from €15,060 in 2009 to €5,020 in 2025.
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 IBAT
- What is the company number of IBAT?
- The company number of IBAT is 0898.270.973. The VAT number is the same number with BE in front: BE 0898.270.973.
- Where is IBAT based?
- The registered office is at Rue Renard 12, 4100 Seraing.Company details
- What does IBAT do?
- According to the KBO register, the main activity is other building finishing work (NACE 43350).
- What is the legal form of IBAT?
- IBAT is a private limited company (pre-2019) (BVBA).
- When was IBAT founded?
- IBAT was founded on 02-06-2008.
- Is IBAT still active?
- Yes, IBAT is an active enterprise in the KBO register.
- What is the turnover of IBAT?
- The turnover in financial year 2025 is ≈ €52,000. This figure is estimated from the gross margin of €5,020 and 50 comparable companies (NACE 43350). It probably lies between €29,000 and €84,000. It is a rough estimate.Financials
- Is IBAT profitable?
- In financial year 2025, IBAT made a loss of €1,478.
- Where can I find the annual accounts of IBAT?
- IBAT filed 16 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of IBAT due?
- IBAT must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
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