IBSM
InactiveIBSM was declared bankrupt on 20-11-2023 (Tribunal de l’entreprise du Hainaut, division Mons); the bankruptcy was closed for insufficient assets by judgment of 22-09-2025, published in the Belgian State Gazette on 13-10-2025.
Summary
Inactive; last annual accounts for fiscal year 2022.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 8 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline28-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 30-08-2023, 30 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 · 8 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
30 d late
2021
89 d late
2020
72 d late
2019
59 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 63 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2022, micro schema
Equity
-€135,085▲ 2.3%
2021 · -€138,258
Total assets
€77,981▲ 5.3%
2021 · €74,023
Net result
€3,172
2021 · -€46,352
Working capital
-€141,620▼ 8.0%
2021 · -€131,176
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022
Operating result€41,666--€61,228-€20,010▲ 67.3%-€44,883▼ 124%€4,459
Net result€41,324--€61,810-€21,213▲ 65.7%-€46,352▼ 119%€3,172
Equity-€8,883--€70,693▼ 696%-€91,906▼ 30.0%-€138,258▼ 50.4%-€135,085▲ 2.3%
Total assets€45,541-€48,009▲ 5.4%€74,751▲ 55.7%€74,023▼ 1.0%€77,981▲ 5.3%
Debt€54,424-€118,702▲ 118%€166,656▲ 40.4%€212,281▲ 27.4%€213,067▲ 0.4%
Working capital-€30,548--€98,630▼ 223%-€106,503▼ 8.0%-€131,176▼ 23.2%-€141,620▼ 8.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2022: €4,459 after a loss of €44,883 in 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €77,981
Fixed assets
€26,534 ▲ 1.1%
Current assets
€51,447 ▲ 7.7%
Key figures and ratios
EBITDA
€6,027▲
2021 · -€41,928
Cash flow
€4,740▲
2021 · -€43,397
Solvency
-173.2%▲
2021 · -186.8%
Current ratio
0.27▼
2021 · 0.27
Debt to equity
-1.58▼
2021 · -1.54
ROA
4.1%▲
2021 · -62.6%
Interest coverage
5.62▲
2021 · -28.54
Debt ≤ 1 year
€193,067▲
2021 · €178,947
Debt > 1 year
€20,000▼
2021 · €33,333
Income taxes
€214
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,395 | €3,479 | €3,007 | €2,955 | €1,567 | ▼ 47.0% |
| Other operating charges640/8 | - | - | - | €5,373 | €550 | ▼ 89.8% |
| Gross operating margin9900 | €52,968 | -€56,822 | -€12,454 | -€36,555 | €6,577 | ▲ 118% |
| Operating profit (loss)9901 | €41,666 | -€61,228 | -€20,010 | -€44,883 | €4,459 | ▲ 110% |
| Recurring financial income75 | €1 | - | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €1,469 | €1,073 | ▼ 26.9% |
| Recurring financial charges65 | €344 | €538 | €1,041 | €1,469 | €1,073 | ▼ 26.9% |
| Profit (loss) for the period before taxes9903 | €41,324 | -€61,766 | -€21,051 | -€46,352 | €3,386 | ▲ 107% |
| Income taxes67/77 | - | €45 | €162 | - | €214 | - |
| Profit (loss) for the period9904 | €41,324 | -€61,810 | -€21,213 | -€46,352 | €3,172 | ▲ 107% |
| Profit (loss) for the period to be appropriated9905 | €41,324 | -€61,810 | -€21,213 | -€46,352 | €3,172 | ▲ 107% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €45,541 | €48,009 | €74,751 | €74,023 | €77,981 | ▲ 5.3% |
| Fixed assets21/28 | €21,666 | €27,937 | €26,103 | €26,252 | €26,534 | ▲ 1.1% |
| Intangible fixed assets21 | €5,625 | €3,750 | €1,875 | - | - | - |
| Tangible fixed assets22/27 | €1,041 | €3,187 | €3,228 | €5,252 | €5,534 | ▲ 5.4% |
| Plant, machinery and equipment23 | - | - | - | €4,590 | €3,611 | ▼ 21.3% |
| Furniture and vehicles24 | - | - | - | €662 | €187 | ▼ 71.7% |
| Other tangible fixed assets26 | - | - | - | - | €1,736 | - |
| Financial fixed assets28 | €15,000 | €21,000 | €21,000 | €21,000 | €21,000 | = |
| Current assets29/58 | €23,875 | €20,072 | €48,648 | €47,771 | €51,447 | ▲ 7.7% |
| Amounts receivable within one year40/41 | €22,937 | €4,334 | €47,962 | €44,673 | €49,693 | ▲ 11.2% |
| Trade receivables40 | - | - | - | €42,340 | €49,063 | ▲ 15.9% |
| Other amounts receivable41 | - | - | - | €2,333 | €630 | ▼ 73.0% |
| Cash at bank and in hand54/58 | €939 | €14,848 | €13 | €1,942 | €1,522 | ▼ 21.6% |
| Deferred charges and accrued income490/1 | - | - | - | €1,156 | €232 | ▼ 79.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €45,541 | €48,009 | €74,751 | €74,023 | €77,981 | ▲ 5.3% |
| Equity10/15 | -€8,883 | -€70,693 | -€91,906 | -€138,258 | -€135,085 | ▲ 2.3% |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | -€28,883 | -€90,693 | -€111,906 | -€158,258 | -€155,085 | ▲ 2.0% |
| Amounts payable17/49 | €54,424 | €118,702 | €166,656 | €212,281 | €213,067 | ▲ 0.4% |
| Amounts payable after more than one year17 | - | - | - | €33,333 | €20,000 | ▼ 40.0% |
| Financial debts170/4 | - | - | - | €33,333 | €20,000 | ▼ 40.0% |
| Amounts payable within one year42/48 | €54,424 | €118,702 | €155,151 | €178,947 | €193,067 | ▲ 7.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €6,667 | €15,657 | ▲ 135% |
| Trade debts44 | €33,608 | €8,540 | €7,896 | €10,826 | €3,929 | ▼ 63.7% |
| Suppliers440/4 | - | - | - | €10,826 | €3,929 | ▼ 63.7% |
| Taxes, remuneration and social security45 | - | - | - | €162 | €214 | ▲ 31.9% |
| Taxes450/3 | - | - | - | €162 | €214 | ▲ 31.9% |
| Other amounts payable47/48 | - | - | - | €161,292 | €173,267 | ▲ 7.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,324 | -€61,810 | -€21,213 | -€46,352 | €3,172 | ▲ 107% |
| + Depreciation and write-downs630 | €2,395 | €3,479 | €3,007 | €2,955 | €1,567 | ▼ 47.0% |
| Operating cash flow (approximation) | €43,719 | -€58,332 | -€18,206 | -€43,397 | €4,740 | ▲ 111% |
| Investment in fixed assets (approximation) | - | -€9,750 | -€1,173 | -€3,104 | -€1,850 | ▲ 40.4% |
| Change in cash | - | €13,909 | -€14,835 | €1,929 | -€420 | ▼ 122% |
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
13-10
Bankruptcy
Bankruptcy closure (insufficient assets)
Tribunal de l’entreprise du Hainaut, division Mons · event 22-09-2025
2023
06-12
Bankruptcy
Opening
Tribunal de l’entreprise du Hainaut, division Mons · event 20-11-2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Back to profitnet €3,172
Net result €3,172 after 3 loss-making years.
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 89 days late
2021
11-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 72 days late
2020
28-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 59 days late
2019
31-12
Financial
Weakest financial yearnet -€61,810
Net result drops to -€61,810, the lowest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 29 days late
SignalFinancial 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | TONY BELLAVIA AVENUE DES EXPOSITIONS, 8A,
7000 MONS- .
114311
MONITEUR BELGE — 06.12.2023 — BELGISCH STAATSBLAD
Date provisoire de cessation de paiement : 20/11/2023 |
20-11-2023 → 22-09-2025 |