IBELEC
ActiveSummary
IBELEC has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €363,050 and a net result of €50,433. Equity is growing by ~14.3% per year across the filed fiscal years. Its solvency ranks better than 25% of 7967 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability52▼-17
Solvency49▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19,000 at 30 days acceptable
Liquidity tight (current ratio 1.3 against 1.21 in 2024; short-term debt: 75.9% and cash: 7.6% of total assets), and 75.9% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
24.1%
Return on assets
3.4%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
2 d early
2023
99 d late
2022
150 d late
2021
30 d late
2020
30 d late
2019
30 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 48 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 30 November (4 of the last 5 filed years within 69 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close30-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#4 employer in Schoten, Construction sector
Equity
€363,050▲ 14.3%
2024 · €317,617
Total assets
€1.5m▼ 13.8%
2024 · €1.7m
Net result
€50,433▼ 63.1%
2024 · €136,603
Working capital
€338,231▲ 15.1%
2024 · €293,785
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
Operating result€125,488▲ 198%€60,715▼ 51.6%€157,162▲ 159%€212,880▲ 35.5%€127,441▼ 40.1%
Net result€71,574within the sector's middle half▲ 2,252%€18,039within the sector's middle half▼ 74.8%€125,363within the sector's middle half▲ 595%€136,603above the sector's middle half▲ 9.0%€50,433within the sector's middle half▼ 63.1%
Equity€233,567within the sector's middle half▲ 44.2%€251,607within the sector's middle half▲ 7.7%€281,013within the sector's middle half▲ 11.7%€317,617within the sector's middle half▲ 13.0%€363,050within the sector's middle half▲ 14.3%
Total assets€1.4mwithin the sector's middle half▼ 1.8%€1.2mwithin the sector's middle half▼ 10.9%€1.4mwithin the sector's middle half▲ 10.1%€1.7mabove the sector's middle half▲ 28.3%€1.5mabove the sector's middle half▼ 13.8%
Debt€1.2m▼ 7.7%€984,194▼ 14.6%€1.1m▲ 9.7%€1.4m▲ 32.3%€1.1m▼ 20.0%
Working capital€210,325within the sector's middle half▲ 50.2%€233,573within the sector's middle half▲ 11.1%€262,719within the sector's middle half▲ 12.5%€293,785within the sector's middle half▲ 11.8%€338,231within the sector's middle half▲ 15.1%
Solvency16.8%below the sector's middle half▲ 5.4pp20.4%below the sector's middle half▲ 3.5pp20.7%below the sector's middle half▲ 0.3pp18.2%below the sector's middle half▼ 2.5pp24.1%within the sector's middle half▲ 5.9pp
Current ratio1.18within the sector's middle half▲ 0.071.24within the sector's middle half▲ 0.051.24within the sector's middle half▲ 0.011.21within the sector's middle half▼ 0.041.30within the sector's middle half▲ 0.09
Return on assets (ROA)5.2%within the sector's middle half▲ 4.9pp1.5%within the sector's middle half▼ 3.7pp9.2%within the sector's middle half▲ 7.8pp7.8%within the sector's middle half▼ 1.4pp3.4%within the sector's middle half▼ 4.5pp
Staff (FTE)31above the sector's middle half▼ 1.9%31.6above the sector's middle half▲ 1.9%32.4above the sector's middle half▲ 2.5%32.5above the sector's middle half▲ 0.3%33.8above the sector's middle half▲ 4.0%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 40% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€24,818 ▲ 4.1%
Current assets
€1.5m ▼ 14.0%
Equity and liabilities €1.5m
Equity
€363,050 ▲ 14.3%
Debt
€1.1m ▼ 20.0%
Debt's share of the balance-sheet total falls from 81.8% to 75.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€136,756▼
2024 · €221,095
Cash flow
€59,749▼
2024 · €144,818
Quick ratio
1.14▲
2024 · 1.13
Debt to equity
3.15▼
2024 · 4.50
ROE
13.9%▼
2024 · 43.0%
Interest coverage
3.43▼
2024 · 4.90
Debt ≤ 1 year
€1.1m▼
2024 · €1.4m
Income taxes
€37,731▲
2024 · €32,034
Staff costs
€2.2m▲
2024 · €2.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,681 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
2.0%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 4,681 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1,000 | €579 | €1,092 | ▲ 88.7% |
| Remuneration, social security and pensions62 | - | €1.7m | €1.9m | €2.1m | €2.2m | ▲ 6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,629 | €11,737 | €11,707 | €8,215 | €9,315 | ▲ 13.4% |
| Other operating charges640/8 | - | €5,028 | €14,300 | €8,009 | €15,933 | ▲ 98.9% |
| Non-recurring operating charges66A | - | - | - | - | €26,663 | - |
| Gross operating margin9900 | €1.8m | €1.8m | €2.1m | €2.3m | €2.4m | ▲ 4.1% |
| Operating profit (loss)9901 | €125,488 | €60,715 | €157,162 | €212,880 | €127,441 | ▼ 40.1% |
| Financial income75/76B | - | €0 | €15,426 | €909 | €560 | ▼ 38.4% |
| Recurring financial income75 | €5,756 | €0 | €15,426 | €909 | €560 | ▼ 38.4% |
| Financial charges65/66B | - | €18,983 | €22,632 | €45,152 | €39,836 | ▼ 11.8% |
| Recurring financial charges65 | €19,583 | €18,983 | €22,632 | €45,152 | €39,836 | ▼ 11.8% |
| Profit (loss) for the period before taxes9903 | €111,662 | €41,732 | €149,956 | €168,637 | €88,165 | ▼ 47.7% |
| Income taxes67/77 | €40,088 | €23,692 | €24,592 | €32,034 | €37,731 | ▲ 17.8% |
| Profit (loss) for the period9904 | €71,574 | €18,039 | €125,363 | €136,603 | €50,433 | ▼ 63.1% |
| Profit (loss) for the period to be appropriated9905 | €71,574 | €18,039 | €125,363 | €136,603 | €50,433 | ▼ 63.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €1.2m | €1.4m | €1.7m | €1.5m | ▼ 13.8% |
| Fixed assets21/28 | €23,242 | €18,033 | €18,295 | €23,832 | €24,818 | ▲ 4.1% |
| Tangible fixed assets22/27 | €23,242 | €18,033 | €18,295 | €23,832 | €24,818 | ▲ 4.1% |
| Plant, machinery and equipment23 | - | €0 | - | - | - | - |
| Furniture and vehicles24 | - | €16,641 | €11,508 | €17,780 | €19,503 | ▲ 9.7% |
| Other tangible fixed assets26 | - | €1,392 | €6,787 | €6,051 | €5,315 | ▼ 12.2% |
| Current assets29/58 | €1.4m | €1.2m | €1.3m | €1.7m | €1.5m | ▼ 14.0% |
| Stocks and contracts in progress3 | €71,706 | €94,706 | €100,251 | €114,658 | €174,279 | ▲ 52.0% |
| Stocks30/36 | - | €77,706 | €49,247 | €54,604 | €107,939 | ▲ 97.7% |
| Contracts in progress37 | - | €17,000 | €51,004 | €60,054 | €66,340 | ▲ 10.5% |
| Amounts receivable within one year40/41 | €795,652 | €912,769 | €1.1m | €1.1m | €1.2m | ▲ 1.1% |
| Trade receivables40 | - | €779,272 | €962,960 | €968,224 | €1.0m | ▲ 6.9% |
| Other amounts receivable41 | - | €133,497 | €111,017 | €173,834 | €119,532 | ▼ 31.2% |
| Cash at bank and in hand54/58 | €405,910 | €199,266 | €168,055 | €449,955 | €113,970 | ▼ 74.7% |
| Deferred charges and accrued income490/1 | - | €11,026 | €0 | €15,076 | €38,179 | ▲ 153% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €1.2m | €1.4m | €1.7m | €1.5m | ▼ 13.8% |
| Equity10/15 | €233,567 | €251,607 | €281,013 | €317,617 | €363,050 | ▲ 14.3% |
| Contributions10/11 | €112,000 | €112,000 | €112,000 | €112,000 | €112,000 | = |
| Capital10 | - | €112,000 | €112,000 | €112,000 | €112,000 | = |
| Issued capital100 | - | €112,000 | €112,000 | €112,000 | €112,000 | = |
| Reserves13 | €121,567 | €139,607 | €169,013 | €205,617 | €251,050 | ▲ 22.1% |
| Non-distributable reserves130/1 | - | €11,200 | €11,200 | €11,200 | €11,200 | = |
| Legal reserve130 | - | €11,200 | €11,200 | €11,200 | €11,200 | = |
| Distributable reserves133 | - | €128,407 | €157,813 | €194,417 | €239,850 | ▲ 23.4% |
| Profit (loss) carried forward14 | €0 | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €1.2m | €984,194 | €1.1m | €1.4m | €1.1m | ▼ 20.0% |
| Amounts payable within one year42/48 | €1.2m | €984,194 | €1.1m | €1.4m | €1.1m | ▼ 20.0% |
| Current portion of amounts payable after more than one year42 | - | €108,996 | - | - | - | - |
| Financial debts43 | - | €239,943 | €340,485 | €277,482 | €153,764 | ▼ 44.6% |
| Credit institutions430/8 | - | €239,943 | €340,485 | €277,482 | €153,764 | ▼ 44.6% |
| Trade debts44 | €303,255 | €379,413 | €403,192 | €771,269 | €666,573 | ▼ 13.6% |
| Suppliers440/4 | - | €379,413 | €403,192 | €771,269 | €666,573 | ▼ 13.6% |
| Taxes, remuneration and social security45 | - | €255,843 | €335,889 | €279,210 | €322,056 | ▲ 15.3% |
| Taxes450/3 | - | €41,468 | €68,275 | €11,101 | €19,469 | ▲ 75.4% |
| Remuneration and social security454/9 | - | €214,375 | €267,614 | €268,109 | €302,588 | ▲ 12.9% |
| Other amounts payable47/48 | - | €0 | - | €100,000 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €71,574 | €18,039 | €125,363 | €136,603 | €50,433 | ▼ 63.1% |
| + Depreciation and write-downs630 | €11,629 | €11,737 | €11,707 | €8,215 | €9,315 | ▲ 13.4% |
| Operating cash flow (approximation) | €83,203 | €29,776 | €137,070 | €144,818 | €59,749 | ▼ 58.7% |
| Investment in fixed assets (approximation) | - | -€6,528 | -€11,968 | -€13,752 | -€10,302 | ▲ 25.1% |
| Change in cash | - | -€206,644 | -€31,211 | €281,899 | -€335,985 | ▼ 219% |
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
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
29-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Highest result since 2019net €136,603 ▲9%
Operating result €212,880, net result €136,603, both a record.
07-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 99 days late
2023
30-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 150 days late
2021
30-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
31-03
Financial
Equity above €200,000Eq €233,567 ▲44.2%
3 profitable years in a row build equity to €233,567.
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
31-03
Financial
Weakest financial yearnet €3,043 ▼39.3%
Net result drops to €3,043, the lowest in the series; recovery starts the following year.
2019
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 30 days late
2018
15-11
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 15 days late
2017
30-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2016
12-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 42 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Schoten · 1 establishment unit since 1989
Ground area
4,525 m²
Building footprint
850 m²
Volume, LiDAR
6,215 m³
Parcel 11040D0532/00T000, Flanders · tallest building 20.8 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
IBELEC
since 19892.041.574.638
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11040D0532/00T000 | Flanders | 4,525 m² | 1 · 850 m² | 20.8 m · 3 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
Owners and holdings
1 ownerOwners 1
- Sourceaccounts AREC 202550%
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 5,902 EUR awarded · 5,824 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,244 EUR | 1,353 EUR |
| 2024 | 2 | 2,317 EUR | 2,309 EUR |
| 2023 | 1 | 942 EUR | 1,038 EUR |
| 2022 | 1 | 1,399 EUR | 1,124 EUR |
Recognitions · licences · registrations
Recognised contractor
4 categoriesIBELEC NV42191
Dual-learning approval
2 live approvals · 3 endedElektrotechnicus (vwo)
Elektrotechnicus duaal (so)
Show 3 ended approvals
Industrieel elektrotechnisch installateur (so)
Elektrische installaties duaal (so)
Elektrotechnisch installateur (vwo)
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Of 22,827 companies in sector 43211 we hold annual accounts for 10,338. 7,215 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
Founded08-11-1988
Fiscal year end31-03
Activities, NACEBEL 2025
43211General electrical installation work
46643Wholesale of electrical equipment, including installation materials
E-invoicing
Reachable via Peppol
Peppol ID
0208:0435750922
Also
9925:BE0435750922
Registered
02-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.