Summary
IBEX ADVISORY is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €260,431 and a net result of €56,634. Equity is growing by ~22.1% per year across the filed fiscal years. Its solvency ranks better than 70% of 8211 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 29-05-2026, 63 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
63 d early
2024
44 d early
2023
58 d early
2022
2 d late
2021
3 d late
2020
on the day
2019
6 d early
← 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 24 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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. Usually files around 4 June (3 of the last 3 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€260,431▲ 27.8%
2024 · €203,796
Net result
€56,634▼ 62.0%
2024 · €148,977
Total assets
€356,596▲ 48.9%
2024 · €239,460
Solvency
73.0%▼ 12.1pp
2024 · 85.1%
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€43,928▼ 59.8%-€60,545-€67,214▼ 11.0%€170,752€50,371▼ 70.5%
Net result€36,859within the sector's middle half▼ 52.3%-€69,143below the sector's middle half-€66,214below the sector's middle half▲ 4.2%€148,977above the sector's middle half€56,634within the sector's middle half▼ 62.0%
Equity€190,176within the sector's middle half▲ 32.3%€121,034within the sector's middle half▼ 36.4%€54,820within the sector's middle half▼ 54.7%€203,796within the sector's middle half▲ 272%€260,431within the sector's middle half▲ 27.8%
Total assets€504,247within the sector's middle half▲ 0.3%€145,331within the sector's middle half▼ 71.2%€96,968below the sector's middle half▼ 33.3%€239,460within the sector's middle half▲ 147%€356,596within the sector's middle half▲ 48.9%
Debt€314,071▼ 12.4%€24,297▼ 92.3%€42,148▲ 73.5%€35,664▼ 15.4%€96,165▲ 170%
Working capital€390,116above the sector's middle half▲ 30.3%€64,137within the sector's middle half▼ 83.6%-€6,039within the sector's middle half€203,796above the sector's middle half€260,431above the sector's middle half▲ 27.8%
Solvency37.7%within the sector's middle half▲ 9.1pp83.3%above the sector's middle half▲ 45.6pp56.5%within the sector's middle half▼ 26.7pp85.1%above the sector's middle half▲ 28.6pp73.0%within the sector's middle half▼ 12.1pp
Current ratio7.96above the sector's middle half▲ 4.633.76within the sector's middle half▼ 4.190.86within the sector's middle half▼ 2.916.71above the sector's middle half▲ 5.863.71within the sector's middle half▼ 3.01
Return on assets (ROA)7.3%within the sector's middle half▼ 8.1pp-47.6%below the sector's middle half▼ 54.9pp-68.3%below the sector's middle half▼ 20.7pp62.2%above the sector's middle half▲ 130.5pp15.9%within the sector's middle half▼ 46.3pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 71% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €356,596
Equity
€260,431 ▲ 27.8%
Debt
€96,165 ▲ 170%
Debt's share of the balance-sheet total rises from 14.9% to 27.0%. Equity and debt are higher.
Key figures and ratios
ROE
21.7%▼
2024 · 73.1%
Debt ≤ 1 year
€96,165▲
2024 · €35,664
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €10,108 | - | - | €40,392 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,337 | €8,184 | €10,911 | €8,106 | - | - |
| Other operating charges640/8 | €4,009 | €14,826 | €2,457 | €963 | €69 | ▼ 92.8% |
| Non-recurring operating charges66A | - | - | - | €2,369 | - | - |
| Gross operating margin9900 | €55,275 | -€37,535 | -€53,846 | €182,190 | €50,440 | ▼ 72.3% |
| Operating profit (loss)9901 | €43,928 | -€60,545 | -€67,214 | €170,752 | €50,371 | ▼ 70.5% |
| Financial income75/76B | €14,900 | €1,255 | €1,418 | €1,134 | €6,264 | ▲ 452% |
| Recurring financial income75 | €14,900 | €1,255 | €1,418 | €1,134 | €6,264 | ▲ 452% |
| Financial charges65/66B | €10,970 | €1,319 | €75 | €640 | - | - |
| Recurring financial charges65 | €10,970 | €1,319 | €75 | €640 | - | - |
| Profit (loss) for the period before taxes9903 | €47,858 | -€60,609 | -€65,871 | €171,246 | €56,634 | ▼ 66.9% |
| Income taxes67/77 | €11,000 | €8,534 | €343 | €22,270 | - | - |
| Profit (loss) for the period9904 | €36,859 | -€69,143 | -€66,214 | €148,977 | €56,634 | ▼ 62.0% |
| Profit (loss) for the period to be appropriated9905 | €36,859 | -€69,143 | -€66,214 | €148,977 | €56,634 | ▼ 62.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €504,247 | €145,331 | €96,968 | €239,460 | €356,596 | ▲ 48.9% |
| Fixed assets21/28 | €58,060 | €57,996 | €60,859 | - | - | - |
| Tangible fixed assets22/27 | €55,580 | €57,996 | €60,859 | - | - | - |
| Plant, machinery and equipment23 | €4,162 | €3,343 | €2,668 | - | - | - |
| Furniture and vehicles24 | €11,603 | €13,984 | €22,717 | - | - | - |
| Other tangible fixed assets26 | €39,815 | €40,669 | €35,474 | - | - | - |
| Financial fixed assets28 | €2,480 | - | - | - | - | - |
| Current assets29/58 | €446,187 | €87,334 | €36,109 | €239,460 | €356,596 | ▲ 48.9% |
| Amounts receivable after more than one year29 | €236,059 | €18,777 | €20,195 | €21,329 | - | - |
| Trade receivables290 | €30,032 | €18,777 | - | - | - | - |
| Other amounts receivable291 | €206,027 | - | €20,195 | €21,329 | - | - |
| Amounts receivable within one year40/41 | €35,452 | €61,707 | €8,375 | €213,638 | €356,592 | ▲ 66.9% |
| Trade receivables40 | €32,428 | €39,504 | €7,326 | €191,619 | €146,719 | ▼ 23.4% |
| Other amounts receivable41 | €3,024 | €22,203 | €1,049 | €22,019 | €209,873 | ▲ 853% |
| Cash at bank and in hand54/58 | €170,746 | €3,003 | €7,539 | €4,493 | €4 | ▼ 99.9% |
| Deferred charges and accrued income490/1 | €3,930 | €3,848 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €504,247 | €145,331 | €96,968 | €239,460 | €356,596 | ▲ 48.9% |
| Equity10/15 | €190,176 | €121,034 | €54,820 | €203,796 | €260,431 | ▲ 27.8% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €140,918 | €140,918 | €140,918 | €191,396 | €191,396 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Distributable reserves133 | €139,058 | €139,058 | €139,058 | €189,536 | €191,396 | ▲ 1.0% |
| Profit (loss) carried forward14 | €36,859 | -€32,284 | -€98,498 | - | €56,634 | - |
| Amounts payable17/49 | €314,071 | €24,297 | €42,148 | €35,664 | €96,165 | ▲ 170% |
| Amounts payable after more than one year17 | €258,000 | - | - | - | - | - |
| Financial debts170/4 | €258,000 | - | - | - | - | - |
| Amounts payable within one year42/48 | €56,071 | €23,197 | €42,148 | €35,664 | €96,165 | ▲ 170% |
| Current portion of amounts payable after more than one year42 | €18,723 | - | €9,766 | - | - | - |
| Financial debts43 | €6,039 | €2,915 | €3,661 | - | - | - |
| Credit institutions430/8 | €6,039 | €2,915 | €3,661 | - | - | - |
| Trade debts44 | €8,222 | €19,986 | €18,613 | €9,961 | €96,165 | ▲ 865% |
| Suppliers440/4 | €8,222 | €19,986 | €18,613 | €9,961 | €96,165 | ▲ 865% |
| Taxes, remuneration and social security45 | €20,097 | €296 | €3,068 | €23,613 | - | - |
| Taxes450/3 | €18,705 | €296 | €3,068 | €23,613 | - | - |
| Remuneration and social security454/9 | €1,393 | - | - | - | - | - |
| Other amounts payable47/48 | €2,989 | - | €7,040 | €2,090 | - | - |
| Accrued charges and deferred income492/3 | - | €1,100 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €36,859 | -€69,143 | -€66,214 | €148,977 | €56,634 | ▼ 62.0% |
| + Depreciation and write-downs630 | €7,337 | €8,184 | €10,911 | €8,106 | - | - |
| Operating cash flow (approximation) | €44,196 | -€60,959 | -€55,303 | €157,083 | €56,634 | ▼ 63.9% |
| Investment in fixed assets (approximation) | - | -€8,120 | -€13,774 | - | - | - |
| Change in cash | - | -€167,743 | €4,536 | -€3,046 | -€4,489 | ▼ 47.4% |
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
29-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €148,977
Net result €148,977 after 2 loss-making years.
31-12
Financial
Liquidity times 8current ratio 6.71
Current ratio from 0.86 to 6.71; short-term debt falls from €42,148 to €35,664.
31-12
Financial
Equity above €200,000Eq €203,796 ▲272%
Equity rises from €54,820 to €203,796.
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
02-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 2 days late
2022
30-09
Financial
Weakest financial yearnet -€69,143
Net result drops to -€69,143, the lowest in the series; recovery starts the following year.
03-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 3 days late
2021
30-09
Financial
Liquidity doublescurrent ratio 7.96
Current ratio from 3.33 to 7.96; short-term debt falls from €128,699 to €56,071.
30-09
Financial
Equity above €150,000Eq €190,176 ▲32.3%
3 profitable years in a row build equity to €190,176.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Equity above €100,000Eq €143,795 ▲116%
2 profitable years in a row build equity to €143,795.
24-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro 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
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Herentals · 1 establishment unit since 2018
Ground area
1.3 ha
Building footprint
3,211 m²
Volume, LiDAR
53,394 m³
2 parcels, Flanders · tallest building 24.1 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
IBEX ADVISORY
since 2018unit no. 2.282.738.315
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13027A0065/00F002 | Flanders | 1.2 ha | 1 · 3,044 m² | 24.1 m · 6 fl. |
| 23005A0128/00C000 | Flanders | 920 m² | 1 · 167 m² | 7.5 m · 2 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 24,721 companies in this sector we hold annual accounts for 19,804. 13,687 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded14-11-2018
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
62100Computer programming
62200Computer consultancy and computer facilities management
E-invoicing
Not found in the Peppol register
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