ICAREL
ActiveThe computed 12-month bankruptcy probability of ICAREL is 1.8% (moderate). The 2025 annual accounts show equity of €40k and a net result of €-3k. Equity is growing by ~5.9% per year across the filed fiscal years. Its solvency ranks better than 88% of 27386 sector peers (fiscal year 2025). The company has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
70
/ 100
Healthy▼ -24 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-35
Solvency100▲+9
Growth52▼-26
Stability100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity ample (current ratio 4.9 against 1.77 in 2024), and 15.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
84.2%
Return on assets
-5.6%
Age of the figures
8 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 31-08-2026, 31 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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
6 d late
2023
53 d late
2022
29 d late
2021
82 d late
2020
31 d late
2019
92 d late
← before the deadline
after the deadline →
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
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€40k=
2024 · €40k
2018: €27k
2019: €29k
2020: €32k
2021: €34k
2022: €36k
2023: €38k
2024: €40k
2018 → 2025
Total assets
€48k▼ 36.5%
2024 · €76k
2018: €53k
2019: €41k
2020: €47k
2021: €123k
2022: €168k
2023: €97k
2024: €76k
2018 → 2025
Net result
€-3k
2024 · €3k
2018: €2k
2019: €2k
2020: €2k
2021: €10k
2022: €2k
2023: €2k
2024: €3k
2018 → 2025
Working capital
€30k▲ 9.7%
2024 · €27k
2018: €19k
2019: €25k
2020: €29k
2021: €28k
2022: €50k
2023: €25k
2024: €27k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€34k-€36k▲ 5.3%€38k▲ 5.1%€40k▲ 7.6%€40k=
Operating result€17k-€2k▼ 87.3%€3k▲ 27.0%€5k▲ 85.5%€-463
Net result€10k-€2k▼ 82.4%€2k▲ 35.5%€3k▲ 16.0%€-3k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €463 after €5k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €48k
Fixed assets
€11k▼ 19.7%
Current assets
€37k▼ 40.1%
Equity and liabilities €48k
Equity
€40k=
Debt
€8k▼ 78.4%
The debt ratio falls from 46.6% to 15.8%: debt is paid down.
Key figures and ratios
EBITDA
€2k▼
2024 · €9k
Cash flow
€-72▼
2024 · €7k
Solvency
84.2%▲
2024 · 53.4%
Current ratio
4.90▲
2024 · 1.77
Quick ratio
4.90▲
2024 · 1.77
Debt / equity
0.19▼
2024 · 0.87
ROE
-6.7%▼
2024 · 7.0%
ROA
-5.6%▼
2024 · 3.8%
Interest coverage
9.87▼
2024 · 22.91
Debt
€8k▼
2024 · €35k
Debt ≤ 1 year
€8k▼
2024 · €35k
Income taxes
€2k▲
2024 · €2k
Staff costs
€21k▲
2024 · €20k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€76k€48k▼
Fixed assets21/28€13k€11k▼
Tangible fixed assets22/27€13k€10k▼
Plant, machinery and equipment23€12k€10k▼
Furniture and vehicles24€1k€361▼
Financial fixed assets28€357€357=
Current assets29/58€62k€37k▼
Amounts receivable within one year40/41€44k€24k▼
Trade receivables40€22k€19k▼
Other amounts receivable41€22k€5k▼
Cash at bank and in hand54/58€17k€12k▼
Deferred charges and accrued income490/1€777€2k▲
Equity and liabilities
Total equity and liabilities10/49€76k€48k▼
Equity10/15€40k€40k=
Contributions10/11€20k€20k=
Reserves13€5k€5k=
Distributable reserves133€5k€5k=
Profit (loss) carried forward14€15k€15k=
Amounts payable17/49€35k€8k▼
Amounts payable within one year42/48€35k€8k▼
Trade debts44€24k€4k▼
Suppliers440/4€24k€4k▼
Taxes, remuneration and social security45€11k€3k▼
Taxes450/3€646€414▼
Remuneration and social security454/9€11k€2k▼
Other amounts payable47/48-€373
Income statement
Code20242025
Remuneration, social security and pensions62€20k€21k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€3k▼
Other operating charges640/8€152€199▲
Non-recurring operating charges66A€124€112▼
Gross operating margin9900€29k€23k▼
Operating profit (loss)9901€5k€-463▼
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€404€220▼
Recurring financial charges65€404€220▼
Profit (loss) for the period before taxes9903€5k€-683▼
Income taxes67/77€2k€2k▲
Profit (loss) for the period9904€3k€-3k▼
Profit (loss) for the period to be appropriated9905€3k€-3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€15k€15k=
Profit (loss) brought forward from the previous period14P€12k€18k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €-3k ▼195%
Net result drops to €-3k, the lowest in the series.
31-12
Financial
Liquidity triplescurrent ratio 4.90
Current ratio from 1.77 to 4.90; short-term debt falls from €35k to €8k.
06-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 6 days late
2024
22-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 53 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
21-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 82 days late
2021
31-12
Financial
Highest result since 2018net €10k ▲356%
Operating result €17k, net result €10k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Vorst · 1 establishment unit since 2011
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Oude Vijversstraat 401190 VorstGround area
1,894 m²
Building footprint
682 m²
Volume, LiDAR
5,046 m³
Parcel 21382C0028/00G003, Brussels · tallest building 8.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
ICAREL
since 20112.199.951.486
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21382C0028/00G003 | Brussels | 1,894 m² | 1 · 682 m² | 8.8 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
22 categoriesICAREL SRL37723
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GDL
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Of 7,248 companies in sector 43350 we hold annual accounts for 2,334. 1,940 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-12-2010
Fiscal year end31-12
Activities, NACEBEL
43350Other building finishing work
23700Cutting, shaping and finishing of stone
25401Forging of metal
43223Specialised construction activities
43410Roofing work
43422Screed work
43990Other specialised construction activities
43993Specialised construction activities
43995Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:icarel.sprl@yahoo.be