IC Electronics
ActiveSummary
The computed 12-month bankruptcy probability of IC Electronics is 1.8% (moderate). The 2025 annual accounts show equity of €396k and a net result of €168k. Equity is growing by ~37.2% per year across the filed fiscal years. Its solvency ranks better than 50% of 27965 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability94▼-6
Solvency73▼-11
Growth78=
Track record94
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 1.83 against 2.61 in 2024; short-term debt: 38.8% and cash: 65.3% of total assets), but 52.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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 2025Solvency, return and age of the figures
Solvency
47.6%
Return on assets
20.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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 · 5 filingsDeviation from the deadline
2025
27 d late
2024
6 d early
2023
29 d late
2022
42 d early
2021
31 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€396k▼ 17.2%
2024 · €478k
Total assets
€833k▲ 3.4%
2024 · €805k
Net result
€168k▼ 40.9%
2024 · €284k
Working capital
€269k▼ 25.7%
2024 · €362k
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
Line20212022202320242025
Operating result€67k-€112k▲ 68.3%€135k▲ 20.2%€374k▲ 177%€218k▼ 41.8%
Net result€53k-€86k▲ 63.7%€104k▲ 20.9%€284k▲ 173%€168k▼ 40.9%
Equity€54k-€140k▲ 161%€244k▲ 74.5%€478k▲ 95.9%€396k▼ 17.2%
Total assets€132k-€376k▲ 184%€415k▲ 10.6%€805k▲ 93.9%€833k▲ 3.4%
Debt€78k-€236k▲ 200%€171k▼ 27.4%€327k▲ 91.0%€437k▲ 33.6%
Working capital€46k-€112k▲ 146%€178k▲ 58.9%€362k▲ 103%€269k▼ 25.7%
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 42% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €833k
Fixed assets
€241k ▲ 10.2%
Current assets
€593k ▲ 0.9%
Equity and liabilities €833k
Equity
€396k ▼ 17.2%
Debt
€437k ▲ 33.6%
Debt's share of the balance-sheet total rises from 40.6% to 52.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€231k▼
2024 · €383k
Cash flow
€181k▼
2024 · €292k
Current ratio
1.83▼
2024 · 2.61
Debt to equity
1.10▲
2024 · 0.68
ROE
42.4%▼
2024 · 59.4%
ROA
20.2%▼
2024 · 35.3%
Interest coverage
42.33▼
2024 · 85.22
Debt ≤ 1 year
€323k▲
2024 · €225k
Debt > 1 year
€113k▲
2024 · €102k
Income taxes
€48k▼
2024 · €86k
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2 | €27k | €8k | €8k | €13k | ▲ 62.8% |
| Other operating charges640/8 | €1k | €713 | €1k | €1k | €3k | ▲ 171% |
| Non-recurring operating charges66A | - | - | - | - | €7k | - |
| Gross operating margin9900 | €68k | €141k | €144k | €384k | €242k | ▼ 37.1% |
| Operating profit (loss)9901 | €67k | €112k | €135k | €374k | €218k | ▼ 41.8% |
| Financial income75/76B | - | €19 | €0 | €399 | €3k | ▲ 691% |
| Recurring financial income75 | - | €19 | €0 | €399 | €3k | ▲ 691% |
| Financial charges65/66B | €926 | €4k | €4k | €4k | €5k | ▲ 21.7% |
| Recurring financial charges65 | €926 | €4k | €4k | €4k | €5k | ▲ 21.7% |
| Profit (loss) for the period before taxes9903 | €66k | €109k | €131k | €370k | €216k | ▼ 41.8% |
| Income taxes67/77 | €13k | €22k | €26k | €86k | €48k | ▼ 44.7% |
| Profit (loss) for the period9904 | €53k | €86k | €104k | €284k | €168k | ▼ 40.9% |
| Transfer to tax-exempt reserves689 | - | - | - | €105k | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €53k | €86k | €104k | €179k | €168k | ▼ 6.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €132k | €376k | €415k | €805k | €833k | ▲ 3.4% |
| Fixed assets21/28 | €8k | €145k | €175k | €218k | €241k | ▲ 10.2% |
| Tangible fixed assets22/27 | €8k | €145k | €175k | €218k | €241k | ▲ 10.2% |
| Land and buildings22 | - | €137k | €166k | €203k | €197k | ▼ 3.0% |
| Plant, machinery and equipment23 | - | - | - | €5k | €5k | ▼ 10.3% |
| Furniture and vehicles24 | €8k | €7k | €10k | €10k | €6k | ▼ 37.3% |
| Leasing and similar rights25 | - | - | - | - | €32k | - |
| Current assets29/58 | €124k | €231k | €240k | €587k | €593k | ▲ 0.9% |
| Stocks and contracts in progress3 | - | - | - | €1k | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | €1k | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €13k | €33k | €56k | €229k | €46k | ▼ 80.1% |
| Trade receivables40 | €8k | €21k | €34k | €224k | €41k | ▼ 81.5% |
| Other amounts receivable41 | €4k | €12k | €22k | €6k | €4k | ▼ 26.9% |
| Cash at bank and in hand54/58 | €110k | €197k | €184k | €355k | €544k | ▲ 53.4% |
| Deferred charges and accrued income490/1 | €1k | €1k | €834 | €2k | €3k | ▲ 42.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €132k | €376k | €415k | €805k | €833k | ▲ 3.4% |
| Equity10/15 | €54k | €140k | €244k | €478k | €396k | ▼ 17.2% |
| Contributions10/11 | €1k | €1k | €1k | €1k | €1k | = |
| Reserves13 | €53k | €139k | €243k | €477k | €395k | ▼ 17.2% |
| Tax-exempt reserves132 | - | - | - | €105k | €105k | = |
| Distributable reserves133 | €53k | €139k | €243k | €372k | €290k | ▼ 22.0% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €78k | €236k | €171k | €327k | €437k | ▲ 33.6% |
| Amounts payable after more than one year17 | - | €117k | €110k | €102k | €113k | ▲ 11.1% |
| Financial debts170/4 | - | €117k | €110k | €102k | €113k | ▲ 11.1% |
| Amounts payable within one year42/48 | €78k | €119k | €62k | €225k | €323k | ▲ 43.8% |
| Current portion of amounts payable after more than one year42 | €26k | €24k | €9k | €14k | €13k | ▼ 7.2% |
| Financial debts43 | - | - | - | - | €10k | - |
| Credit institutions430/8 | - | - | - | - | €10k | - |
| Trade debts44 | €14k | €32k | €10k | €139k | €5k | ▼ 96.1% |
| Suppliers440/4 | €14k | €32k | €10k | €139k | €5k | ▼ 96.1% |
| Taxes, remuneration and social security45 | €11k | €28k | €0 | €942 | €3k | ▲ 165% |
| Taxes450/3 | €9k | €28k | €0 | €942 | €0 | ▼ 100% |
| Remuneration and social security454/9 | €2k | €0 | - | - | €3k | - |
| Other amounts payable47/48 | €27k | €35k | €43k | €71k | €292k | ▲ 313% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53k | €86k | €104k | €284k | €168k | ▼ 40.9% |
| + Depreciation and write-downs630 | €2 | €27k | €8k | €8k | €13k | ▲ 62.8% |
| Operating cash flow (approximation) | €53k | €114k | €112k | €292k | €181k | ▼ 38.0% |
| Investment in fixed assets (approximation) | - | €-164k | €-38k | €-51k | €-36k | ▲ 30.3% |
| Change in cash | - | €87k | €-13k | €171k | €190k | ▲ 10.7% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2021net €284k ▲173%
Operating result €374k, net result €284k, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Liquidity doublescurrent ratio 3.90
Current ratio from 1.95 to 3.90; short-term debt falls from €119k to €62k.
31-12
Financial
Equity above €200kEq €244k ▲74.5%
3 profitable years in a row build equity to €244k.
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €100kEq €140k ▲161%
2 profitable years in a row build equity to €140k.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Menen · 1 establishment unit since 2020
Ground area
244 m²
Building footprint
367 m²
Volume, LiDAR
2,761 m³
Parcel 34032A0082/00G017, Flanders · tallest building 10.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
IC Electronics
since 20202.307.686.319
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34032A0082/00G017 | Flanders | 244 m² | 1 · 367 m² | 10.1 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.
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Of 22,832 companies in sector 43211 we hold annual accounts for 10,326. 7,024 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
Founded25-09-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
33200Installation of industrial machinery and equipment
43212Electrical installation work in industrial facilities
62200Computer consultancy and computer facilities management
80010Investigation and private security services
Scores and ratios are computed by Checked and are not a credit decision.