ICM Watersystem
ActiveSummary
ICM Watersystem has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €163,415 and a net result of €7,030. Equity is growing by ~18% per year across the filed fiscal years. Its solvency ranks better than 82% of 11693 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+18
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity ample (current ratio 5.29 against 4.27 in 2024; short-term debt: 18.4% and cash: 3.7% of total assets), and 18.4% 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← 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
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
81.6%
Return on assets
3.5%
Age of the figures
18 mo
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 28-11-2025, 28 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
28 d late
2024
43 d late
2023
on the day
2022
3 d late
2021
141 d late
2020
258 d late
2019
182 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 94 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 28 November (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close01-10-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€163,415▲ 4.5%
2024 · €156,385
Total assets
€200,181▼ 1.7%
2024 · €203,568
Net result
€7,030▲ 56.6%
2024 · €4,490
Working capital
€157,766▲ 2.4%
2024 · €154,135
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€50,044▲ 142%€48,352▼ 3.4%€23,212▼ 52.0%€10,858▼ 53.2%€13,629▲ 25.5%
Net result€35,119above the sector's middle half▲ 237%€31,599above the sector's middle half▼ 10.0%€13,857within the sector's middle half▼ 56.1%€4,490within the sector's middle half▼ 67.6%€7,030within the sector's middle half▲ 56.6%
Equity€106,439within the sector's middle half▲ 49.2%€138,037within the sector's middle half▲ 29.7%€151,894within the sector's middle half▲ 10.0%€156,385within the sector's middle half▲ 3.0%€163,415within the sector's middle half▲ 4.5%
Total assets€181,429within the sector's middle half▲ 119%€217,418within the sector's middle half▲ 19.8%€201,445within the sector's middle half▼ 7.3%€203,568within the sector's middle half▲ 1.1%€200,181within the sector's middle half▼ 1.7%
Debt€74,991▲ 554%€79,380▲ 5.9%€49,551▼ 37.6%€47,183▼ 4.8%€36,766▼ 22.1%
Working capital€102,520within the sector's middle half▲ 54.5%€134,664above the sector's middle half▲ 31.4%€149,159above the sector's middle half▲ 10.8%€154,135above the sector's middle half▲ 3.3%€157,766above the sector's middle half▲ 2.4%
Solvency58.7%within the sector's middle half▼ 27.5pp63.5%within the sector's middle half▲ 4.8pp75.4%above the sector's middle half▲ 11.9pp76.8%above the sector's middle half▲ 1.4pp81.6%above the sector's middle half▲ 4.8pp
Current ratio2.37within the sector's middle half▼ 4.422.70within the sector's middle half▲ 0.334.01above the sector's middle half▲ 1.314.27above the sector's middle half▲ 0.265.29above the sector's middle half▲ 1.02
Return on assets (ROA)19.4%above the sector's middle half▲ 6.8pp14.5%above the sector's middle half▼ 4.8pp6.9%within the sector's middle half▼ 7.7pp2.2%within the sector's middle half▼ 4.7pp3.5%within the sector's middle half▲ 1.3pp
Staff (FTE)0.3▲ 50.0%2.3▲ 667%3.3▲ 43.5%4▲ 21.2%3.2▼ 20.0%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 26% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €200,181
Fixed assets
€5,648 ▲ 151%
Current assets
€194,532 ▼ 3.4%
Equity and liabilities €200,181
Equity
€163,415 ▲ 4.5%
Debt
€36,766 ▼ 22.1%
Debt's share of the balance-sheet total falls from 23.2% to 18.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€14,358▲
2024 · €11,344
Cash flow
€7,759▲
2024 · €4,976
Quick ratio
2.86▲
2024 · 2.63
Debt to equity
0.22▼
2024 · 0.30
ROE
4.3%▲
2024 · 2.9%
Interest coverage
8.97▲
2024 · 4.08
Debt ≤ 1 year
€36,766▼
2024 · €47,183
Income taxes
€4,999▲
2024 · €3,587
Staff costs
€106,561▲
2024 · €90,657
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.7%
went bankrupt
4.0%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 10,905 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €22,622 | €89,308 | €90,657 | €106,561 | ▲ 17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,052 | €545 | €38 | €486 | €729 | ▲ 50.1% |
| Other operating charges640/8 | - | €9,086 | €3,269 | €2,195 | €3,880 | ▲ 76.8% |
| Gross operating margin9900 | €62,004 | €80,605 | €115,827 | €104,195 | €124,799 | ▲ 19.8% |
| Operating profit (loss)9901 | €50,044 | €48,352 | €23,212 | €10,858 | €13,629 | ▲ 25.5% |
| Financial charges65/66B | - | €1,970 | €2,388 | €2,781 | €1,600 | ▼ 42.5% |
| Recurring financial charges65 | €3,573 | €1,970 | €2,388 | €2,781 | €1,600 | ▼ 42.5% |
| Profit (loss) for the period before taxes9903 | €46,471 | €46,381 | €20,824 | €8,077 | €12,029 | ▲ 48.9% |
| Income taxes67/77 | €11,352 | €14,783 | €6,967 | €3,587 | €4,999 | ▲ 39.4% |
| Profit (loss) for the period9904 | €35,119 | €31,599 | €13,857 | €4,490 | €7,030 | ▲ 56.6% |
| Profit (loss) for the period to be appropriated9905 | €35,119 | €31,599 | €13,857 | €4,490 | €7,030 | ▲ 56.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €181,429 | €217,418 | €201,445 | €203,568 | €200,181 | ▼ 1.7% |
| Fixed assets21/28 | €3,918 | €3,373 | €2,736 | €2,250 | €5,648 | ▲ 151% |
| Tangible fixed assets22/27 | €1,068 | €523 | €486 | - | €3,398 | - |
| Furniture and vehicles24 | - | €523 | €486 | - | €3,398 | - |
| Financial fixed assets28 | €2,850 | €2,850 | €2,250 | €2,250 | €2,250 | = |
| Current assets29/58 | €177,511 | €214,044 | €198,709 | €201,318 | €194,532 | ▼ 3.4% |
| Stocks and contracts in progress3 | €47,805 | €37,510 | €48,016 | €77,068 | €89,343 | ▲ 15.9% |
| Stocks30/36 | - | €37,510 | €48,016 | €77,068 | €89,343 | ▲ 15.9% |
| Amounts receivable within one year40/41 | €120,004 | €163,556 | €140,626 | €121,164 | €96,746 | ▼ 20.2% |
| Trade receivables40 | - | €74,543 | €84,457 | €106,364 | €61,000 | ▼ 42.6% |
| Other amounts receivable41 | - | €89,013 | €56,169 | €14,800 | €35,746 | ▲ 142% |
| Cash at bank and in hand54/58 | €6,715 | €8,361 | €3,529 | €1,546 | €7,362 | ▲ 376% |
| Deferred charges and accrued income490/1 | - | €4,618 | €6,538 | €1,540 | €1,081 | ▼ 29.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €181,429 | €217,418 | €201,445 | €203,568 | €200,181 | ▼ 1.7% |
| Equity10/15 | €106,439 | €138,037 | €151,894 | €156,385 | €163,415 | ▲ 4.5% |
| Contributions10/11 | - | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Outside capital11 | - | - | €19,000 | €19,000 | €19,000 | = |
| Other1109/19 | - | - | €19,000 | €19,000 | €19,000 | = |
| Reserves13 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Non-distributable reserves130/1 | - | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Reserves not available under the articles1311 | - | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Profit (loss) carried forward14 | €85,539 | €117,137 | €130,994 | €135,485 | €142,515 | ▲ 5.2% |
| Amounts payable17/49 | €74,991 | €79,380 | €49,551 | €47,183 | €36,766 | ▼ 22.1% |
| Amounts payable within one year42/48 | €74,991 | €79,380 | €49,551 | €47,183 | €36,766 | ▼ 22.1% |
| Financial debts43 | - | €134 | €556 | €463 | - | - |
| Credit institutions430/8 | - | €134 | €556 | €463 | - | - |
| Trade debts44 | €62,001 | €48,332 | €3,624 | €1,871 | €11,353 | ▲ 507% |
| Suppliers440/4 | - | €48,332 | €3,624 | €1,871 | €11,353 | ▲ 507% |
| Taxes, remuneration and social security45 | - | €30,914 | €45,370 | €32,770 | €25,414 | ▼ 22.4% |
| Taxes450/3 | - | €30,409 | €41,520 | €26,418 | €25,414 | ▼ 3.8% |
| Remuneration and social security454/9 | - | €506 | €3,850 | €6,352 | - | - |
| Other amounts payable47/48 | - | - | - | €12,079 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35,119 | €31,599 | €13,857 | €4,490 | €7,030 | ▲ 56.6% |
| + Depreciation and write-downs630 | €1,052 | €545 | €38 | €486 | €729 | ▲ 50.1% |
| Operating cash flow (approximation) | €36,171 | €32,144 | €13,895 | €4,976 | €7,759 | ▲ 55.9% |
| Investment in fixed assets (approximation) | - | €0 | €600 | €0 | -€4,128 | - |
| Change in cash | - | €1,646 | -€4,832 | -€1,983 | €5,816 | ▲ 393% |
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
2025
28-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2024
13-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 43 days late
31-03
Financial
Weakest financial yearnet €4,490 ▼67.6%
Net result drops to €4,490, the lowest in the series; recovery starts the following year.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Equity above €150,000Eq €151,894 ▲10%
5 profitable years in a row build equity to €151,894.
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
21-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 141 days late
2021
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 258 days late
31-03
Financial
Highest result since 2019net €35,119 ▲237%
Operating result €50,044, net result €35,119, both a record.
31-03
Financial
Equity above €100,000Eq €106,439 ▲49.2%
3 profitable years in a row build equity to €106,439.
2020
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 182 days late
31-03
Financial
Liquidity doublescurrent ratio 6.78
Current ratio from 2.88 to 6.78; short-term debt falls from €29,634 to €11,474.
Show earlier events
2018
03-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 33 days late
2017
20-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 50 days late
2016
14-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial 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.
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Directors · office · real estate
Directors
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2018
Ground area
251 m²
Building footprint
86 m²
Volume, LiDAR
811 m³
Parcel 11810K0017/00K004, Flanders · tallest building 11.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
ICM Watersystem
since 20182.279.497.723
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11810K0017/00K004 | Flanders | 251 m² | 1 · 86 m² | 11.2 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 2,499 companies in this sector we hold annual accounts for 1,761. 1,209 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded02-06-2014
Fiscal year end31-03
Activities, NACEBEL 2025
46649Wholesale of other machinery and equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0553542970
Registered
29-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.