IBELCA
ActiveSummary
IBELCA has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.16M and a net result of €120k. Equity is growing by ~22% per year across the filed fiscal years. Its solvency ranks better than 74% of 5989 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability77▲+39
Solvency88▼-1
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95k at 30 days acceptable
Liquidity ample (current ratio 11.73 against 19.71 in 2023; short-term debt: 6.6% and cash: 77% of total assets), and 36.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
63.2%
Return on assets
6.6%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
65 d late
2022
79 d late
2021
113 d late
2020
88 d late
2019
53 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€120k▲ 3,577%
2023 · €3k
2018: €22k
2019: €43k▲ +96.0% vs 2018
2020: €135k▲ +215% vs 2019
2021: €20k▼ -85.3% vs 2020
2022: €557k▲ +2705% vs 2021highest in 7 years
2023: €3k▼ -99.4% vs 2022lowest in 7 years
2024: €120k▲ +3577% vs 2023
2018 → 2024
Working capital
€1.29M▲ 17.7%
2023 · €1.10M
2018: €107klowest in 7 years
2019: €135k▲ +26.9% vs 2018
2020: €355k▲ +162% vs 2019
2021: €274k▼ -22.9% vs 2020
2022: €1.10M▲ +302% vs 2021
2023: €1.10M▼ -0.4% vs 2022
2024: €1.29M▲ +17.7% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€558k-€570k▲ 2.1%€1.10M▲ 93.9%€1.11M▲ 0.3%€1.16M▲ 4.5%
2020: €558klowest in 5 years
2021: €570k▲ +2.1% vs 2020
2022: €1.10M▲ +93.9% vs 2021
2023: €1.11M▲ +0.3% vs 2022
2024: €1.16M▲ +4.5% vs 2023highest in 5 years
Operating result€207k-€40k▼ 80.7%€723k▲ 1,709%€-12k€147k
2020: €207k
2021: €40k▼ -80.7% vs 2020
2022: €723k▲ +1709% vs 2021highest in 5 years
2023: €-12k▼ -102% vs 2022lowest in 5 years
2024: €147k▲ +1376% vs 2023
Net result€135k-€20k▼ 85.3%€557k▲ 2,705%€3k▼ 99.4%€120k▲ 3,577%
2020: €135k
2021: €20k▼ -85.3% vs 2020
2022: €557k▲ +2705% vs 2021highest in 5 years
2023: €3k▼ -99.4% vs 2022lowest in 5 years
2024: €120k▲ +3577% vs 2023
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €147k after a loss of €12k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.83M
Fixed assets
€421k ▼ 26.8%
Current assets
€1.41M ▲ 22.1%
Equity and liabilities €1.83M
Equity
€1.16M ▲ 4.5%
Provisions
€275k ▲ 8.6%
Debt
€398k ▲ 8.1%
Debt's share of the balance-sheet total rises from 21.3% to 21.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€167k▲
2023 · €15k
Cash flow
€140k▲
2023 · €30k
Current ratio
11.73▼
2023 · 19.71
Debt to equity
0.34▲
2023 · 0.33
ROE
10.4%▲
2023 · 0.3%
ROA
6.6%▲
2023 · 0.2%
Interest coverage
26.43▲
2023 · 2.29
Debt ≤ 1 year
€120k▲
2023 · €59k
Debt > 1 year
€278k▼
2023 · €310k
Income taxes
€28k▲
2023 · €-6k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 48 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.73M€1.83M▲
Fixed assets21/28€574k€421k▼
Tangible fixed assets22/27€574k€421k▼
Land and buildings22€574k€421k▼
Current assets29/58€1.16M€1.41M▲
Cash at bank and in hand54/58€1.16M€1.41M▲
Equity and liabilities
Total equity and liabilities10/49€1.73M€1.83M▲
Equity10/15€1.11M€1.16M▲
Contributions10/11€62k-
Capital10€62k-
Issued capital100€62k-
Reserves13€732k€801k▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€668k€737k▲
Distributable reserves133€58k€58k=
Profit (loss) carried forward14€314k€357k▲
Provisions and deferred taxes16€253k€275k▲
Deferred taxes168€253k€275k▲
Amounts payable17/49€369k€398k▲
Amounts payable after more than one year17€310k€278k▼
Financial debts170/4€285k€253k▼
Other amounts payable178/9€25k€25k=
Amounts payable within one year42/48€59k€120k▲
Current portion of amounts payable after more than one year42€31k€32k▲
Trade debts44€12k€9k▼
Suppliers440/4€12k€9k▼
Other amounts payable47/48€15k€80k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€27k€20k▼
Other operating charges640/8€10k€8k▼
Gross operating margin9900€25k€175k▲
Operating profit (loss)9901€-12k€147k▲
Financial income75/76B€12k€29k▲
Recurring financial income75€12k€29k▲
Financial charges65/66B€7k€6k▼
Recurring financial charges65€7k€6k▼
Profit (loss) for the period before taxes9903€-6k€170k▲
Transfer from deferred taxes780€4k€4k=
Transfer to deferred taxes680-€25k
Income taxes67/77€-6k€28k▲
Profit (loss) for the period9904€3k€120k▲
Transfer from tax-exempt reserves789€7k€7k=
Transfer to tax-exempt reserves689-€76k
Profit (loss) for the period to be appropriated9905€10k€51k▲
Appropriation of the result
Profit (loss) to be appropriated9906€314k€365k▲
Profit (loss) brought forward from the previous period14P€304k€314k▲
Profit to be distributed694/7-€8k
Directors or managers695-€8k
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35k | €44k | €27k | €27k | €20k | ▼ 24.3% |
| Other operating charges640/8 | - | €8k | €8k | €10k | €8k | ▼ 19.8% |
| Gross operating margin9900 | €251k | €92k | €758k | €25k | €175k | ▲ 600% |
| Operating profit (loss)9901 | €207k | €40k | €723k | €-12k | €147k | ▲ 1,376% |
| Financial income75/76B | - | - | - | €12k | €29k | ▲ 139% |
| Recurring financial income75 | - | - | - | €12k | €29k | ▲ 139% |
| Financial charges65/66B | - | €7k | €7k | €7k | €6k | ▼ 4.3% |
| Recurring financial charges65 | €5k | €7k | €7k | €7k | €6k | ▼ 4.3% |
| Profit (loss) for the period before taxes9903 | €202k | €33k | €716k | €-6k | €170k | ▲ 2,918% |
| Transfer from deferred taxes780 | - | €4k | €4k | €4k | €4k | = |
| Transfer to deferred taxes680 | - | - | €166k | - | €25k | - |
| Income taxes67/77 | €15k | €16k | €-4k | €-6k | €28k | ▲ 583% |
| Profit (loss) for the period9904 | €135k | €20k | €557k | €3k | €120k | ▲ 3,577% |
| Transfer from tax-exempt reserves789 | - | €7k | €7k | €7k | €7k | = |
| Transfer to tax-exempt reserves689 | - | - | €499k | - | €76k | - |
| Profit (loss) for the period to be appropriated9905 | €35k | €27k | €65k | €10k | €51k | ▲ 403% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €903k | €1.08M | €1.78M | €1.73M | €1.83M | ▲ 5.9% |
| Fixed assets21/28 | €512k | €762k | €601k | €574k | €421k | ▼ 26.8% |
| Tangible fixed assets22/27 | €512k | €762k | €601k | €574k | €421k | ▼ 26.8% |
| Land and buildings22 | - | €762k | €601k | €574k | €421k | ▼ 26.8% |
| Current assets29/58 | €390k | €322k | €1.18M | €1.16M | €1.41M | ▲ 22.1% |
| Amounts receivable within one year40/41 | €27k | €713 | - | - | - | - |
| Other amounts receivable41 | - | €713 | - | - | - | - |
| Cash at bank and in hand54/58 | €364k | €321k | €1.18M | €1.16M | €1.41M | ▲ 22.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €903k | €1.08M | €1.78M | €1.73M | €1.83M | ▲ 5.9% |
| Equity10/15 | €558k | €570k | €1.10M | €1.11M | €1.16M | ▲ 4.5% |
| Contributions10/11 | €62k | €62k | €62k | €62k | - | - |
| Capital10 | - | €62k | €62k | €62k | - | - |
| Issued capital100 | - | €62k | €62k | €62k | - | - |
| Reserves13 | €254k | €247k | €739k | €732k | €801k | ▲ 9.5% |
| Non-distributable reserves130/1 | - | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | - | €6k | €6k | €6k | €6k | = |
| Tax-exempt reserves132 | - | €182k | €674k | €668k | €737k | ▲ 10.4% |
| Distributable reserves133 | - | €58k | €58k | €58k | €58k | = |
| Profit (loss) carried forward14 | €242k | €261k | €304k | €314k | €357k | ▲ 13.7% |
| Provisions and deferred taxes16 | €97k | €94k | €257k | €253k | €275k | ▲ 8.6% |
| Deferred taxes168 | - | €94k | €257k | €253k | €275k | ▲ 8.6% |
| Amounts payable17/49 | €247k | €420k | €415k | €369k | €398k | ▲ 8.1% |
| Amounts payable after more than one year17 | €212k | €372k | €341k | €310k | €278k | ▼ 10.3% |
| Financial debts170/4 | - | €347k | €316k | €285k | €253k | ▼ 11.2% |
| Other amounts payable178/9 | - | €25k | €25k | €25k | €25k | = |
| Amounts payable within one year42/48 | €35k | €48k | €74k | €59k | €120k | ▲ 105% |
| Current portion of amounts payable after more than one year42 | - | €30k | €31k | €31k | €32k | ▲ 1.6% |
| Trade debts44 | €3k | €4k | €4k | €12k | €9k | ▼ 26.9% |
| Suppliers440/4 | - | €4k | €4k | €12k | €9k | ▼ 26.9% |
| Other amounts payable47/48 | - | €14k | €39k | €15k | €80k | ▲ 417% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €135k | €20k | €557k | €3k | €120k | ▲ 3,577% |
| + Depreciation and write-downs630 | €35k | €44k | €27k | €27k | €20k | ▼ 24.3% |
| Operating cash flow (approximation) | €171k | €64k | €584k | €30k | €140k | ▲ 369% |
| Investment in fixed assets (approximation) | - | €-294k | €134k | €0 | €134k | - |
| Change in cash | - | €-42k | €854k | €-20k | €256k | ▲ 1,376% |
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
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 61 days late
2024
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 65 days late
2023
31-12
Financial
Weakest financial yearnet €3k ▼99.4%
Net result drops to €3k, the lowest in the series; recovery starts the following year.
18-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 79 days late
2022
31-12
Financial
Highest result since 2018net €557k ▲2,705%
Operating result €723k, net result €557k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 15.95
Current ratio from 6.70 to 15.95.
31-12
Financial
Equity above €1MEq €1.10M ▲93.9%
5 profitable years in a row build equity to €1.10M.
21-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 113 days late
2021
27-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 88 days late
2020
31-12
Financial
Liquidity doublescurrent ratio 11.17
Current ratio from 5.29 to 11.17.
31-12
Financial
Equity above €500kEq €558k ▲30.1%
3 profitable years in a row build equity to €558k.
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 53 days late
Show earlier events
2019
20-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 112 days late
2018
07-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 38 days late
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 58 days late
2016
05-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Elsene · 1 establishment unit since 1995
Ground area
338 m²
Building footprint
230 m²
Volume, LiDAR
2,913 m³
2 parcels, Brussels · tallest building 18.4 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Georges Henrilaan 401, 1200 Sint-Lambrechts-Woluwe
since 19952.070.888.830
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21446D0030/00M014 | Brussels | 173 m² | 1 · 78 m² | 18.4 m · 5 fl. |
| 21673D0143/00Y027 | Brussels | 165 m² | 1 · 152 m² | 17.6 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 6,155 companies in sector 46190 we hold annual accounts for 2,571. 1,118 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded02-02-1995
Fiscal year end31-12
Activities, NACEBEL 2025
46190Agents in non-specialised wholesale trade
Scores and ratios are computed by Checked and are not a credit decision.