ICARE ETC
ActiveSummary
The computed 12-month bankruptcy probability of ICARE ETC is 2.6% (moderate). The 2025 annual accounts show negative equity (€-13k) and a net result of €-16k. Equity is shrinking by ~36.6% per year across the filed fiscal years. Its solvency ranks better than 15% of 18400 sector peers (fiscal year 2025). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0▼-30
Growth32=
Track record100
Bankruptcy probability, 12 months
2.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.38 against 0.6 in 2024; short-term debt: 132.5% and cash: 0.9% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-32.5%
Return on assets
-37.8%
Age of the figures
15 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-13k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 28-01-2026, 3 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
3 d early
2024
4 d early
2023
1 d early
2022
4 d early
2021
4 d early
2020
4 d early
2019
2 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-13k
2024 · €2k
2019: €56k
2020: €62k▲ +11.0% vs 2019highest in 7 years
2021: €58k▼ -7.7% vs 2020
2022: €41k▼ -28.5% vs 2021
2023: €13k▼ -67.5% vs 2022
2024: €2k▼ -83.6% vs 2023
2025: €-13k▼ -713% vs 2024lowest in 7 years
2019 → 2025
Total assets
€41k▼ 8.2%
2024 · €45k
2019: €95khighest in 7 years
2020: €82k▼ -13.8% vs 2019
2021: €83k▲ +0.7% vs 2020
2022: €65k▼ -21.8% vs 2021
2023: €45k▼ -30.0% vs 2022
2024: €45k▼ -0.4% vs 2023
2025: €41k▼ -8.2% vs 2024lowest in 7 years
2019 → 2025
Net result
€-16k▼ 39.6%
2024 · €-11k
2019: €36khighest in 7 years
2020: €6k▼ -82.6% vs 2019
2021: €-5k▼ -177% vs 2020
2022: €-16k▼ -244% vs 2021
2023: €-28k▼ -69.2% vs 2022lowest in 7 years
2024: €-11k▲ +59.8% vs 2023
2025: €-16k▼ -39.6% vs 2024
2019 → 2025
Working capital
€-34k▼ 95.9%
2024 · €-17k
2019: €48k
2020: €52k▲ +7.5% vs 2019highest in 7 years
2021: €45k▼ -13.6% vs 2020
2022: €24k▼ -45.9% vs 2021
2023: €-7k▼ -128% vs 2022
2024: €-17k▼ -155% vs 2023
2025: €-34k▼ -95.9% vs 2024lowest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€58k-€41k▼ 28.5%€13k▼ 67.5%€2k▼ 83.6%€-13k
2021: €58khighest in 5 years
2022: €41k▼ -28.5% vs 2021
2023: €13k▼ -67.5% vs 2022
2024: €2k▼ -83.6% vs 2023
2025: €-13k▼ -713% vs 2024lowest in 5 years
Operating result€-4k-€-16k▼ 268%€-27k▼ 71.1%€-11k▲ 61.2%€-15k▼ 43.0%
2021: €-4khighest in 5 years
2022: €-16k▼ -268% vs 2021
2023: €-27k▼ -71.1% vs 2022lowest in 5 years
2024: €-11k▲ +61.2% vs 2023
2025: €-15k▼ -43.0% vs 2024
Net result€-5k-€-16k▼ 244%€-28k▼ 69.2%€-11k▲ 59.8%€-16k▼ 39.6%
2021: €-5khighest in 5 years
2022: €-16k▼ -244% vs 2021
2023: €-28k▼ -69.2% vs 2022lowest in 5 years
2024: €-11k▲ +59.8% vs 2023
2025: €-16k▼ -39.6% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €15k in 2025 against €11k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €41k
Fixed assets
€21k ▲ 5.1%
Current assets
€21k ▼ 18.3%
Key figures and ratios
EBITDA
€-12k▼
2024 · €-7k
Cash flow
€-12k▼
2024 · €-8k
Solvency
-32.5%▼
2024 · 4.9%
Current ratio
0.38▼
2024 · 0.60
Quick ratio
0.04▼
2024 · 0.11
Debt to equity
-4.08▼
2024 · 19.55
ROA
-37.8%▼
2024 · -24.8%
Interest coverage
-32.38▼
2024 · -18.49
Debt
€55k▲
2024 · €43k
Debt ≤ 1 year
€55k▲
2024 · €43k
Income taxes
€145▼
2024 · €225
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 · 2025 against 2024 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€45k€41k▼
Fixed assets21/28€20k€21k▲
Intangible fixed assets21€12k€13k▲
Tangible fixed assets22/27€8k€8k▲
Furniture and vehicles24€3k€4k▲
Other tangible fixed assets26€5k€4k▼
Current assets29/58€25k€21k▼
Stocks and contracts in progress3€21k€19k▼
Stocks30/36€21k€19k▼
Amounts receivable within one year40/41€4k€2k▼
Trade receivables40€4k€2k▼
Other amounts receivable41-€93
Cash at bank and in hand54/58€694€364▼
Equity and liabilities
Total equity and liabilities10/49€45k€41k▼
Equity10/15€2k€-13k▼
Contributions10/11€6k€6k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€-6k€-21k▼
Amounts payable17/49€43k€55k▲
Amounts payable within one year42/48€43k€55k▲
Trade debts44€427€6k▲
Suppliers440/4€427€6k▲
Taxes, remuneration and social security45€1k€145▼
Taxes450/3€1k€145▼
Other amounts payable47/48€41k€49k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k▲
Other operating charges640/8€896€916▲
Gross operating margin9900€-6k€-11k▼
Operating profit (loss)9901€-11k€-15k▼
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€397€364▼
Recurring financial charges65€397€364▼
Profit (loss) for the period before taxes9903€-11k€-15k▼
Income taxes67/77€225€145▼
Profit (loss) for the period9904€-11k€-16k▼
Profit (loss) for the period to be appropriated9905€-11k€-16k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-6k€-21k▼
Profit (loss) brought forward from the previous period14P€5k€-6k▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €3k | €3k | €3k | €3k | ▲ 3.0% |
| Other operating charges640/8 | - | €2k | €834 | €896 | €916 | ▲ 2.2% |
| Gross operating margin9900 | €6k | €-12k | €-23k | €-6k | €-11k | ▼ 68.7% |
| Operating profit (loss)9901 | €-4k | €-16k | €-27k | €-11k | €-15k | ▼ 43.0% |
| Financial income75/76B | - | - | - | €0 | - | - |
| Recurring financial income75 | €2 | - | - | €0 | - | - |
| Financial charges65/66B | - | €330 | €397 | €397 | €364 | ▼ 8.3% |
| Recurring financial charges65 | €272 | €330 | €397 | €397 | €364 | ▼ 8.3% |
| Profit (loss) for the period before taxes9903 | €-5k | €-16k | €-28k | €-11k | €-15k | ▼ 41.2% |
| Income taxes67/77 | €189 | €209 | €215 | €225 | €145 | ▼ 35.4% |
| Profit (loss) for the period9904 | €-5k | €-16k | €-28k | €-11k | €-16k | ▼ 39.6% |
| Profit (loss) for the period to be appropriated9905 | €-5k | €-16k | €-28k | €-11k | €-16k | ▼ 39.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €83k | €65k | €45k | €45k | €41k | ▼ 8.2% |
| Fixed assets21/28 | €13k | €17k | €20k | €20k | €21k | ▲ 5.1% |
| Intangible fixed assets21 | €10k | €15k | €14k | €12k | €13k | ▲ 7.9% |
| Tangible fixed assets22/27 | €3k | €2k | €6k | €8k | €8k | ▲ 0.9% |
| Furniture and vehicles24 | - | €1k | €728 | €3k | €4k | ▲ 26.2% |
| Other tangible fixed assets26 | - | €878 | €6k | €5k | €4k | ▼ 14.0% |
| Current assets29/58 | €70k | €48k | €25k | €25k | €21k | ▼ 18.3% |
| Stocks and contracts in progress3 | €13k | €28k | €21k | €21k | €19k | ▼ 10.0% |
| Stocks30/36 | - | €28k | €21k | €21k | €19k | ▼ 10.0% |
| Amounts receivable within one year40/41 | €9k | €1k | €2k | €4k | €2k | ▼ 55.0% |
| Trade receivables40 | - | €1k | €2k | €4k | €2k | ▼ 57.3% |
| Other amounts receivable41 | - | €426 | - | - | €93 | - |
| Cash at bank and in hand54/58 | €46k | €18k | €2k | €694 | €364 | ▼ 47.6% |
| Deferred charges and accrued income490/1 | - | €638 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €83k | €65k | €45k | €45k | €41k | ▼ 8.2% |
| Equity10/15 | €58k | €41k | €13k | €2k | €-13k | ▼ 713% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Distributable reserves133 | - | - | - | €2k | €2k | = |
| Profit (loss) carried forward14 | €50k | €33k | €5k | €-6k | €-21k | ▼ 266% |
| Amounts payable17/49 | €25k | €23k | €32k | €43k | €55k | ▲ 27.9% |
| Amounts payable within one year42/48 | €25k | €23k | €32k | €43k | €55k | ▲ 27.9% |
| Trade debts44 | €4k | €3k | €7k | €427 | €6k | ▲ 1,230% |
| Suppliers440/4 | - | €3k | €7k | €427 | €6k | ▲ 1,230% |
| Taxes, remuneration and social security45 | - | €545 | €600 | €1k | €145 | ▼ 89.3% |
| Taxes450/3 | - | €545 | €600 | €1k | €145 | ▼ 89.3% |
| Other amounts payable47/48 | - | €20k | €24k | €41k | €49k | ▲ 19.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-5k | €-16k | €-28k | €-11k | €-16k | ▼ 39.6% |
| + Depreciation and write-downs630 | €9k | €3k | €3k | €3k | €3k | ▲ 3.0% |
| Operating cash flow (approximation) | €4k | €-14k | €-25k | €-8k | €-12k | ▼ 54.4% |
| Investment in fixed assets (approximation) | - | €-7k | €-6k | €-3k | €-4k | ▼ 68.6% |
| Change in cash | - | €-29k | €-16k | €-1k | €-330 | ▲ 67.5% |
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
28-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Weakest financial yearnet €-28k
Net result drops to €-28k, the lowest in the series; recovery starts the following year.
27-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
27-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
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, Sint-Pieters-Woluwe · 1 establishment unit since 2016
Ground area
222 m²
Building footprint
75 m²
Volume, LiDAR
864 m³
Parcel 21683D0371/00Z059, Brussels · tallest building 13.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
.
since 20162.254.537.742
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21683D0371/00Z059 | Brussels | 222 m² | 1 · 75 m² | 13.8 m · 4 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 2,069 companies in sector 47750 we hold annual accounts for 517. 188 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
Founded15-06-2016
Fiscal year end30-06
Activities, NACEBEL 2025
47750Retail sale of cosmetics and toilet articles
47120Other non-specialised retail sale
73110Advertising agencies
73300Public relations and communication consultancy
Scores and ratios are computed by Checked and are not a credit decision.