IDEA Construct
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 22-07-2026 at the NBB all 5 filings
Turnover
€0
Total assets
€222,977▲ 97.8%
2024 · €112,722
Net result
€20,165▼ 1.5%
2024 · €20,481
Working capital
€60,795▲ 57.3%
2024 · €38,656
Multi-year overview
2021 to 2025, 5 financial yearsTurnover
no figure
2025
20212025
Operating result
€29,324
▲ 6.9%
2025
20212025
Net result
€20,165
▼ 1.5%
2025
middle half of the sector
20212025
Equity
€84,965
▲ 31.1%
2025
middle half of the sector
20212025
Total assets
€222,977
▲ 97.8%
2025
middle half of the sector
20212025
Debt
€138,013
▲ 188%
2025
20212025
Working capital
€60,795
▲ 57.3%
2025
middle half of the sector
20212025
Solvency
38.1%
▼ 19.4pp
2025
middle half of the sector
20212025
Current ratio
1.60
▼ 0.27
2025
middle half of the sector
20212025
Return on assets (ROA)
9.0%
▼ 9.1pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Turnover€0-
Operating result€172,752--€13,262€21,916€27,423▲ 25.1%€29,324▲ 6.9%
Net result€127,528above the sector's middle half--€14,408below the sector's middle half€13,879within the sector's middle half€20,481within the sector's middle half▲ 47.6%€20,165within the sector's middle half▼ 1.5%
Equity€131,348within the sector's middle half-€116,940within the sector's middle half▼ 11.0%€130,819within the sector's middle half▲ 11.9%€64,800within the sector's middle half▼ 50.5%€84,965within the sector's middle half▲ 31.1%
Total assets€229,722within the sector's middle half-€183,745within the sector's middle half▼ 20.0%€154,529within the sector's middle half▼ 15.9%€112,722within the sector's middle half▼ 27.1%€222,977within the sector's middle half▲ 97.8%
Debt€98,375-€66,805▼ 32.1%€23,710▼ 64.5%€47,922▲ 102%€138,013▲ 188%
Working capital€103,033within the sector's middle half-€92,933within the sector's middle half▼ 9.8%€109,427above the sector's middle half▲ 17.7%€38,656within the sector's middle half▼ 64.7%€60,795within the sector's middle half▲ 57.3%
Solvency57.2%within the sector's middle half-63.6%within the sector's middle half▲ 6.5pp84.7%above the sector's middle half▲ 21.0pp57.5%within the sector's middle half▼ 27.2pp38.1%within the sector's middle half▼ 19.4pp
Current ratio2.38within the sector's middle half-2.84within the sector's middle half▲ 0.468.14above the sector's middle half▲ 5.301.86within the sector's middle half▼ 6.281.60within the sector's middle half▼ 0.27
Return on assets (ROA)55.5%above the sector's middle half--7.8%below the sector's middle half▼ 63.4pp9.0%within the sector's middle half▲ 16.8pp18.2%above the sector's middle half▲ 9.2pp9.0%within the sector's middle half▼ 9.1pp
above
within
below
The sector band is the middle half of the companies in Manufacture of fabricated metal products, except machinery and equipment (NACE 25). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 7% higher than in 2024. It is the third rise in a row, after the fall in 2022.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €222,977
Fixed assets
€60,579 ▲ 106%
Current assets
€162,398 ▲ 94.8%
Equity and liabilities €222,977
Equity
€84,965 ▲ 31.1%
Debt
€138,013 ▲ 188%
Debt's share of the balance-sheet total rises from 42.5% to 61.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€50,079▲
2024 · €42,292
Cash flow
€40,919▲
2024 · €35,351
Quick ratio
1.50▼
2024 · 1.86
Debt to equity
1.62▲
2024 · 0.74
ROE
23.7%▼
2024 · 31.6%
Interest coverage
15.32▼
2024 · 55.07
Debt ≤ 1 year
€101,603▲
2024 · €44,692
Debt > 1 year
€36,410▲
2024 · €3,230
Income taxes
€6,055▼
2024 · €6,174
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue tax debts | €47,277 | €42,277 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €54,735 | - | €1,073 | €14,464 | €55,760 |
| Depreciation and write-downs of the year | €6,450 | €11,971 | €11,587 | €14,870 | €20,755 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €0 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,450 | €11,971 | €11,587 | €14,870 | €20,755 | ▲ 39.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €26,812 | -€26,812 | - | - |
| Other operating charges640/8 | €3,766 | €26 | €880 | €28,553 | €5,361 | ▼ 81.2% |
| Gross operating margin9900 | €182,968 | -€1,265 | €61,195 | €44,034 | €55,440 | ▲ 25.9% |
| Operating profit (loss)9901 | €172,752 | -€13,262 | €21,916 | €27,423 | €29,324 | ▲ 6.9% |
| Financial income75/76B | - | - | €6 | €0 | €165 | ▲ 5,513× |
| Recurring financial income75 | - | - | €6 | €0 | €165 | ▲ 5,513× |
| Financial charges65/66B | €5,447 | €1,146 | €4,004 | €768 | €3,270 | ▲ 326% |
| Recurring financial charges65 | €5,447 | €1,146 | €4,004 | €768 | €3,270 | ▲ 326% |
| Profit (loss) for the period before taxes9903 | €167,305 | -€14,408 | €17,917 | €26,655 | €26,220 | ▼ 1.6% |
| Income taxes67/77 | €39,777 | - | €4,039 | €6,174 | €6,055 | ▼ 1.9% |
| Profit (loss) for the period9904 | €127,528 | -€14,408 | €13,879 | €20,481 | €20,165 | ▼ 1.5% |
| Profit (loss) for the period to be appropriated9905 | €127,528 | -€14,408 | €13,879 | €20,481 | €20,165 | ▼ 1.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €229,722 | €183,745 | €154,529 | €112,722 | €222,977 | ▲ 97.8% |
| Fixed assets21/28 | €52,264 | €40,293 | €29,779 | €29,374 | €60,579 | ▲ 106% |
| Tangible fixed assets22/27 | €52,264 | €40,293 | €29,779 | €29,374 | €60,579 | ▲ 106% |
| Plant, machinery and equipment23 | €1,966 | €1,505 | €1,109 | €713 | €317 | ▼ 55.5% |
| Furniture and vehicles24 | €50,298 | €38,787 | €28,670 | €28,661 | €12,362 | ▼ 56.9% |
| Leasing and similar rights25 | - | - | - | - | €47,901 | - |
| Current assets29/58 | €177,458 | €143,453 | €124,750 | €83,348 | €162,398 | ▲ 94.8% |
| Stocks and contracts in progress3 | - | - | - | - | €10,215 | - |
| Stocks30/36 | - | - | - | - | €10,215 | - |
| Amounts receivable within one year40/41 | €50,692 | €53,303 | €53,246 | €57,046 | €102,226 | ▲ 79.2% |
| Trade receivables40 | €27,919 | €28,708 | €49,250 | €50,406 | €87,771 | ▲ 74.1% |
| Other amounts receivable41 | €22,773 | €24,596 | €3,996 | €6,640 | €14,454 | ▲ 118% |
| Cash at bank and in hand54/58 | €122,733 | €83,964 | €65,979 | €19,404 | €42,091 | ▲ 117% |
| Deferred charges and accrued income490/1 | €4,034 | €6,185 | €5,526 | €6,898 | €7,867 | ▲ 14.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €229,722 | €183,745 | €154,529 | €112,722 | €222,977 | ▲ 97.8% |
| Equity10/15 | €131,348 | €116,940 | €130,819 | €64,800 | €84,965 | ▲ 31.1% |
| Contributions10/11 | €100 | €100 | €100 | €1,100 | €1,100 | = |
| Reserves13 | €440 | €440 | €440 | €440 | €440 | = |
| Non-distributable reserves130/1 | €440 | €440 | €0 | - | - | - |
| Reserves not available under the articles1311 | €440 | €440 | - | - | - | - |
| Distributable reserves133 | - | - | €440 | €440 | €440 | = |
| Profit (loss) carried forward14 | €130,807 | €116,400 | €130,279 | €63,260 | €83,424 | ▲ 31.9% |
| Amounts payable17/49 | €98,375 | €66,805 | €23,710 | €47,922 | €138,013 | ▲ 188% |
| Amounts payable after more than one year17 | €23,949 | €16,285 | €8,388 | €3,230 | €36,410 | ▲ 11× |
| Financial debts170/4 | €23,949 | €16,285 | €8,388 | €3,230 | €36,410 | ▲ 11× |
| Amounts payable within one year42/48 | €74,426 | €50,520 | €15,323 | €44,692 | €101,603 | ▲ 127% |
| Current portion of amounts payable after more than one year42 | €7,435 | €7,663 | €7,898 | €5,158 | €14,260 | ▲ 176% |
| Trade debts44 | €2,214 | €579 | €266 | €8,306 | €33,748 | ▲ 306% |
| Suppliers440/4 | €2,214 | €579 | €266 | €8,306 | €33,748 | ▲ 306% |
| Taxes, remuneration and social security45 | €47,277 | €42,277 | €7,025 | €26,773 | €17,769 | ▼ 33.6% |
| Taxes450/3 | €47,277 | €42,277 | €7,025 | €26,773 | €17,769 | ▼ 33.6% |
| Remuneration and social security454/9 | €0 | €0 | - | - | - | - |
| Other amounts payable47/48 | €17,500 | €0 | €134 | €4,454 | €35,826 | ▲ 704% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €127,528 | -€14,408 | €13,879 | €20,481 | €20,165 | ▼ 1.5% |
| + Depreciation and write-downs630 | €6,450 | €11,971 | €11,587 | €14,870 | €20,755 | ▲ 39.6% |
| Operating cash flow (approximation) | €133,978 | -€2,436 | €25,466 | €35,351 | €40,919 | ▲ 15.8% |
| Investment in fixed assets (approximation) | - | €0 | -€1,073 | -€14,464 | -€51,960 | ▼ 259% |
| Change in cash | - | -€38,768 | -€17,986 | -€46,574 | €22,686 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as IDEA Construct has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of IDEA Construct itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for IDEA Construct. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 22-07-2026 | 2026-00323842 | |
| 31-12-2024 | micro format | 17-07-2025 | 2025-00286250 | |
| 31-12-2023 | micro format | 08-10-2024 | 2024-00502582 | |
| 31-12-2022 | micro format | 09-10-2023 | 2023-00481077 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20396482 |