IC Group
Open bankruptcyA bankruptcy procedure is open for IC Group according to publications in the Belgian State Gazette; curator: PIETER WAUMAN.
Summary
The file additionally contains 1 interim measure and 1 administrative flag. The 2024 annual accounts show equity of €504k and a net result of €96k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
23 d late
2022
58 d late
2021
30 d late
2020
55 d late
← before the deadline
after the deadline →
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
Financials · fiscal year 2024, micro schema
Equity
€504k▲ 23.5%
2023 · €408k
2020: €78klowest in 5 years
2021: €153k▲ +95.3% vs 2020
2022: €293k▲ +91.6% vs 2021
2023: €408k▲ +39.4% vs 2022
2024: €504k▲ +23.5% vs 2023highest in 5 years
2020 → 2024
Total assets
€1.85M▲ 22.6%
2023 · €1.51M
2020: €140klowest in 5 years
2021: €395k▲ +181% vs 2020
2022: €1.25M▲ +216% vs 2021
2023: €1.51M▲ +20.9% vs 2022
2024: €1.85M▲ +22.6% vs 2023highest in 5 years
2020 → 2024
Net result
€96k▼ 16.9%
2023 · €115k
2020: €28klowest in 5 years
2021: €75k▲ +164% vs 2020
2022: €140k▲ +87.7% vs 2021highest in 5 years
2023: €115k▼ -17.5% vs 2022
2024: €96k▼ -16.9% vs 2023
2020 → 2024
Working capital
€457k▲ 39.6%
2023 · €327k
2020: €74klowest in 5 years
2021: €115k▲ +56.1% vs 2020
2022: €184k▲ +59.2% vs 2021
2023: €327k▲ +78.0% vs 2022
2024: €457k▲ +39.6% vs 2023highest in 5 years
2020 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€78k-€153k▲ 95.3%€293k▲ 91.6%€408k▲ 39.4%€504k▲ 23.5%
2020: €78klowest in 5 years
2021: €153k▲ +95.3% vs 2020
2022: €293k▲ +91.6% vs 2021
2023: €408k▲ +39.4% vs 2022
2024: €504k▲ +23.5% vs 2023highest in 5 years
Operating result€35k-€91k▲ 157%€181k▲ 99.1%€141k▼ 22.1%€108k▼ 23.6%
2020: €35klowest in 5 years
2021: €91k▲ +157% vs 2020
2022: €181k▲ +99.1% vs 2021highest in 5 years
2023: €141k▼ -22.1% vs 2022
2024: €108k▼ -23.6% vs 2023
Net result€28k-€75k▲ 164%€140k▲ 87.7%€115k▼ 17.5%€96k▼ 16.9%
2020: €28klowest in 5 years
2021: €75k▲ +164% vs 2020
2022: €140k▲ +87.7% vs 2021highest in 5 years
2023: €115k▼ -17.5% vs 2022
2024: €96k▼ -16.9% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 24% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.85M
Fixed assets
€47k ▼ 41.6%
Current assets
€1.80M ▲ 26.3%
Equity and liabilities €1.85M
Equity
€504k ▲ 23.5%
Debt
€1.34M ▲ 22.3%
Debt's share of the balance-sheet total falls from 72.9% to 72.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€141k▼
2023 · €206k
Cash flow
€130k▼
2023 · €180k
Current ratio
1.34▲
2023 · 1.30
Debt to equity
2.66▼
2023 · 2.69
ROE
19.0%▼
2023 · 28.3%
ROA
5.2%▼
2023 · 7.7%
Interest coverage
263.48▼
2023 · 1604.46
Debt ≤ 1 year
€1.34M▲
2023 · €1.10M
Income taxes
€37k▼
2023 · €38k
Staff costs
€384k▲
2023 · €136k
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 · 38 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.51M€1.85M▲
Fixed assets21/28€81k€47k▼
Tangible fixed assets22/27€81k€47k▼
Plant, machinery and equipment23€26k€16k▼
Furniture and vehicles24€55k€31k▼
Current assets29/58€1.43M€1.80M▲
Amounts receivable within one year40/41€618k€1.55M▲
Trade receivables40€116k€438k▲
Other amounts receivable41€502k€1.11M▲
Cash at bank and in hand54/58€808k€254k▼
Equity and liabilities
Total equity and liabilities10/49€1.51M€1.85M▲
Equity10/15€408k€504k▲
Contributions10/11€50k€50k=
Reserves13€358k€454k▲
Distributable reserves133€358k€454k▲
Amounts payable17/49€1.10M€1.34M▲
Amounts payable within one year42/48€1.10M€1.34M▲
Trade debts44€1.00M€1.20M▲
Suppliers440/4€1.00M€1.20M▲
Taxes, remuneration and social security45€97k€143k▲
Taxes450/3€80k€98k▲
Remuneration and social security454/9€17k€46k▲
Income statement
Code20232024
Remuneration, social security and pensions62€136k€384k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€65k€34k▼
Other operating charges640/8€10k€8k▼
Gross operating margin9900€352k€534k▲
Operating profit (loss)9901€141k€108k▼
Financial income75/76B€13k€26k▲
Recurring financial income75€13k€26k▲
Financial charges65/66B€128€537▲
Recurring financial charges65€128€537▲
Profit (loss) for the period before taxes9903€154k€133k▼
Income taxes67/77€38k€37k▼
Profit (loss) for the period9904€115k€96k▼
Profit (loss) for the period to be appropriated9905€115k€96k▼
Appropriation of the result
Profit (loss) to be appropriated9906€115k€96k▼
Transfer to equity691/2€115k€96k▼
To other reserves6921€115k€96k▼
The notes to these accounts (5 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €100k | €154k | €136k | €384k | ▲ 183% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1k | €12k | €51k | €65k | €34k | ▼ 48.0% |
| Other operating charges640/8 | - | €1k | €3k | €10k | €8k | ▼ 22.3% |
| Gross operating margin9900 | €71k | €204k | €388k | €352k | €534k | ▲ 51.6% |
| Operating profit (loss)9901 | €35k | €91k | €181k | €141k | €108k | ▼ 23.6% |
| Financial income75/76B | - | €1 | €1 | €13k | €26k | ▲ 103% |
| Recurring financial income75 | €1 | €1 | €1 | €13k | €26k | ▲ 103% |
| Financial charges65/66B | - | €55 | €847 | €128 | €537 | ▲ 319% |
| Recurring financial charges65 | €45 | €55 | €847 | €128 | €537 | ▲ 319% |
| Profit (loss) for the period before taxes9903 | €35k | €91k | €180k | €154k | €133k | ▼ 13.3% |
| Income taxes67/77 | €7k | €16k | €40k | €38k | €37k | ▼ 2.4% |
| Profit (loss) for the period9904 | €28k | €75k | €140k | €115k | €96k | ▼ 16.9% |
| Profit (loss) for the period to be appropriated9905 | €28k | €75k | €140k | €115k | €96k | ▼ 16.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €140k | €395k | €1.25M | €1.51M | €1.85M | ▲ 22.6% |
| Fixed assets21/28 | €4k | €37k | €109k | €81k | €47k | ▼ 41.6% |
| Tangible fixed assets22/27 | €4k | €37k | €109k | €81k | €47k | ▼ 41.6% |
| Plant, machinery and equipment23 | - | €27k | €34k | €26k | €16k | ▼ 39.4% |
| Furniture and vehicles24 | - | €11k | €75k | €55k | €31k | ▼ 42.6% |
| Current assets29/58 | €136k | €357k | €1.14M | €1.43M | €1.80M | ▲ 26.3% |
| Amounts receivable within one year40/41 | €66k | €161k | €403k | €618k | €1.55M | ▲ 150% |
| Trade receivables40 | - | €153k | €384k | €116k | €438k | ▲ 278% |
| Other amounts receivable41 | - | €8k | €19k | €502k | €1.11M | ▲ 121% |
| Cash at bank and in hand54/58 | €70k | €196k | €734k | €808k | €254k | ▼ 68.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €140k | €395k | €1.25M | €1.51M | €1.85M | ▲ 22.6% |
| Equity10/15 | €78k | €153k | €293k | €408k | €504k | ▲ 23.5% |
| Contributions10/11 | - | €50k | €50k | €50k | €50k | = |
| Reserves13 | €28k | €103k | €243k | €358k | €454k | ▲ 26.8% |
| Distributable reserves133 | - | €103k | €243k | €358k | €454k | ▲ 26.8% |
| Amounts payable17/49 | €62k | €242k | €954k | €1.10M | €1.34M | ▲ 22.3% |
| Amounts payable within one year42/48 | €62k | €242k | €954k | €1.10M | €1.34M | ▲ 22.3% |
| Trade debts44 | €55k | €206k | €877k | €1.00M | €1.20M | ▲ 19.9% |
| Suppliers440/4 | - | €206k | €877k | €1.00M | €1.20M | ▲ 19.9% |
| Taxes, remuneration and social security45 | - | €23k | €68k | €97k | €143k | ▲ 47.2% |
| Taxes450/3 | - | €23k | €57k | €80k | €98k | ▲ 22.1% |
| Remuneration and social security454/9 | - | - | €11k | €17k | €46k | ▲ 163% |
| Other amounts payable47/48 | - | €13k | €9k | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €28k | €75k | €140k | €115k | €96k | ▼ 16.9% |
| + Depreciation and write-downs630 | €1k | €12k | €51k | €65k | €34k | ▼ 48.0% |
| Operating cash flow (approximation) | €30k | €86k | €191k | €180k | €130k | ▼ 28.1% |
| Investment in fixed assets (approximation) | - | €-45k | €-122k | €-37k | €0 | ▲ 100% |
| Change in cash | - | €126k | €538k | €74k | €-554k | ▼ 852% |
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
2026
06-03
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Dendermonde · event 02-03-2026
2025
15-12
KBO administration
Address struck
08-12
Interim measure
Provisional administrator
Ondernemingsrechtbank Gent
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Equity above €500kEq €504k ▲23.5%
5 profitable years in a row build equity to €504k.
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 23 days late
2023
27-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 58 days late
2022
31-12
Financial
Highest result since 2020net €140k ▲87.7%
Operating result €181k, net result €140k, both a record.
31-12
Financial
Equity above €200kEq €293k ▲91.6%
3 profitable years in a row build equity to €293k.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Equity above €150kEq €153k ▲95.3%
2 profitable years in a row build equity to €153k.
24-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 55 days late
SignalFinancial 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, Waasmunster · 1 establishment unit since 2020
Ground area
360 m²
Building footprint
545 m²
Volume, LiDAR
2,983 m³
Parcel 42342C1295/00X000, Flanders · tallest building 14.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
IC Group
since 20202.298.255.444
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42342C1295/00X000 | Flanders | 360 m² | 1 · 545 m² | 14.0 m · 1 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | PIETER WAUMAN VIJFSTRATEN 57, 9100 SINT-
NIKLAAS |
02-03-2026 → present |
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 542 EUR awarded · 542 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 542 EUR | 542 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 337 companies in sector 42219 we hold annual accounts for 149. 86 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
Founded16-01-2020
Fiscal year end31-12
Activities, NACEBEL 2025
42219Civil engineering
42220Construction of utility projects for electricity and telecommunications
42110Construction of roads and motorways
42212Civil engineering
43221Plumbing work
43910Bricklaying and masonry work
Scores and ratios are computed by Checked and are not a credit decision.