Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
The abbreviated format states no turnover.
Of this, €44,223 falls due within a year.
In 2025, 4 people joined and 4 left.
Lower solvency than 90% of companies in research and development. Sector median 45.5% · 271 companies.
Negative equity caps the score at 59.
The dashed line is the sector median: 0.1% across 932 companies (NACE 72, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 72, micro). It does better than 6% of them on solvency, 84% on liquidity, 10% on profitability and 8% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 6,008 companies had the same profile as IDRO has now. Each dot stands for 16 companies, two years later.
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of IDRO itself is lower: 1.5% within 12 months. It rests on far more data about IDRO than the profile alone.
The method was tested on the 497,447 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 6,008 companies, not a prediction for IDRO. 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.
Liquidity is ample, with a current ratio of 4.05 (4.16 in 2024), above the usual 1.5. Short-term debt is 18.9% and cash 56.5% of total assets. However, equity is negative.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 5 accounts on average 52 days before the deadline. In the sector (NACE 72), the median for financial year 2024 was 13 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| IDRO Antwerp | €0.2m | €1,874 | -132.1% | 2.5 |
| GRAND MEDICAL (EUROPE) Niel | €0.1m | -€79,756 | -1057.7% | 0.4 |
| sil'innov Fleurus | €0.5m | -€87,325 | -139.8% | 1.3 |
| C-Path Diepenbeek | €0.6m | €15,228 | -46.2% | 2.3 |
| Nutrifocus Kapellen | €0.2m | -€16,787 | 62.5% | - |
| EUROPHARMEDTECH Ganshoren | €0.05m | -€5,941 | -52.4% | 1.2 |
| BIO INX Ghent | €1.2m | -€14,253 | -22.1% | 4 |
These companies have the same main activity as IDRO: research and development on biotechnology (NACE 72101). They are comparable in size and age: total assets between €55,000 and €1.2m, founded between 2016 and 2022.
IDRO files the abbreviated format. That format states no turnover. The gross margin fell from €20,875 in 2021 to €1,874 in 2025.
Kinetic Analysis Group B.V. holds 59% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €13,000. Estimated: probably between €5,300 and €32,000.
Higher than 10% of 271 companies in 2025.
Higher than 74% of 261 companies in 2025.
Higher than 11% of 265 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 4 people joined and 4 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
234,400 | 571,691 | 249,578 | 125,828 | 167,043 | |
21/28 |
55,414 | 101,782 | 118,897 | 40,627 | 58,523 | |
21 |
34,645 | 61,450 | 97,754 | 12,180 | 22,772 | |
22/27 |
20,768 | 40,333 | 21,143 | 28,447 | 35,751 | |
23 |
19,488 | 24,484 | - | - | - | |
24 |
1,280 | 15,849 | 21,143 | 28,447 | 35,751 | |
29/58 |
178,986 | 469,909 | 130,681 | 85,201 | 108,520 | |
40/41 |
41,593 | 4,221 | 87,004 | 67,731 | 103,450 | |
40 |
39,022 | 350 | 70,088 | 67,267 | 91,520 | |
41 |
2,571 | 3,872 | 16,917 | 464 | 11,930 | |
54/58 |
132,488 | 459,614 | 37,932 | 11,936 | 4,467 | |
490/1 |
4,904 | 6,074 | 5,745 | 5,534 | 604 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
234,400 | 571,691 | 249,578 | 125,828 | 167,043 | |
10/15 |
-309,664 | -159,129 | 58,491 | 50,273 | 1,458 | |
10/11 |
9,333 | 9,333 | 4,000 | 4,000 | 4,000 | |
13 |
- | - | 54,491 | 46,273 | - | |
133 |
- | - | 54,491 | 46,273 | - | |
14 |
-318,998 | -168,462 | - | - | -2,542 | |
17/49 |
544,064 | 730,820 | 191,087 | 75,554 | 165,585 | |
17 |
496,536 | 614,926 | - | - | - | |
176 |
496,536 | 614,926 | - | - | - | |
42/48 |
44,223 | 112,823 | 189,458 | 72,068 | 164,985 | |
42 |
- | 20,000 | 60,000 | 44,750 | 155,000 | |
44 |
21,287 | 57,140 | 78,779 | 2,809 | 5,877 | |
440/4 |
21,287 | 57,140 | 78,779 | 2,809 | 5,877 | |
45 |
2,840 | 19,994 | 50,432 | 23,213 | 4,108 | |
450/3 |
24 | 2,780 | 17,073 | 14,294 | - | |
454/9 |
2,816 | 17,215 | 33,359 | 8,919 | 4,108 | |
47/48 |
20,095 | 15,690 | 247 | 1,296 | - | |
492/3 |
3,305 | 3,070 | 1,630 | 3,487 | 601 | |
| Income statement | ||||||
76A |
9,461 | - | - | 235 | - | |
9900 |
1,874 | -54,908 | 120,180 | 146,221 | 20,875 | |
62 |
115,023 | 117,946 | 91,908 | 65,201 | 18,056 | |
630 |
36,661 | 44,281 | 13,904 | 13,904 | 4,340 | |
640/8 |
550 | 1,319 | 1,079 | 350 | 310 | |
9901 |
-150,361 | -218,455 | 13,290 | 66,767 | -1,831 | |
75/76B |
480 | 100 | - | 22 | 15 | |
75 |
480 | 100 | - | 22 | 15 | |
65/66B |
654 | 4,598 | 2,293 | 3,679 | 725 | |
65 |
654 | 4,598 | 2,293 | 3,679 | 725 | |
9903 |
-150,536 | -222,953 | 10,997 | 63,109 | -2,542 | |
67/77 |
- | - | 2,780 | 14,294 | - | |
9904 |
-150,536 | -222,953 | 8,218 | 48,815 | -2,542 | |
9905 |
-150,536 | -222,953 | 8,218 | 48,815 | -2,542 | |
| Appropriation of the result | ||||||
9906 |
-318,998 | -222,953 | 8,218 | 46,273 | -2,542 | |
14P |
-168,462 | - | - | -2,542 | - | |
791/2 |
- | 54,491 | - | - | - | |
691/2 |
- | - | 8,218 | 46,273 | - | |
6921 |
- | - | 8,218 | 46,273 | - | |
| Social balance sheet | ||||||
9087 |
2.5 | 2.3 | 1.8 | 1 | 1 | |
Hours worked1013 |
4,091 | 3,677 | 3,146 | 1,786 | 593 | |
| Document | ||||||
The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 06-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 06-07-2026 | 2026-00256784 | |
| 31-12-2024 | abbreviated format | 15-07-2025 | 2025-00271697 | |
| 31-12-2023 | abbreviated format | 24-06-2024 | 2024-00163757 | |
| 31-12-2022 | abbreviated format | 06-06-2023 | 2023-00108876 | |
| 31-12-2021 | abbreviated format | 25-03-2022 | 2022-08800107 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 6 | €0 | €210,000 |
| 2024 | 1 | €463,435 | €185,000 |
| 2023 | 1 | €50,000 | €25,000 |
| 2022 | 1 | €4,904 | €0 |
| Year | Department | Transactions | Amount |
|---|---|---|---|
| 2025 | Defence | 1 | €29,400 |
| 2023 | Defence | 1 | €58,800 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| -113,700 | -174,173 | 27,194 | 80,671 | 2,509 | ||
| -113,875 | -178,672 | 22,122 | 62,719 | 1,798 | ||
| 4,132 | 27,166 | 92,174 | -3,992 | 60,547 | ||
| -327,125 | 421,682 | 25,996 | 7,469 | - | ||
| 134,763 | 357,085 | -58,777 | 13,133 | -56,465 | ||
| -132.1% | -27.8% | 23.4% | 40.0% | 0.9% | ||
| 4.05 | 4.16 | 0.69 | 1.18 | 0.66 | ||
| - | - | 3.27 | 1.50 | - | ||
| - | - | 14.0% | 97.1% | -174.4% | ||
| -64.2% | -39.0% | 3.3% | 38.8% | -1.5% | ||
| -173.79 | -37.88 | 11.86 | 21.93 | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | 2 | 1 |
| full-time | 2 | 3 | 2 | 1 |
| part-time | 1 | - | - | - |
| in full-time equivalents | 2.7 | 3 | 2 | 1 |
| 2.5 | 2.3 | 1.8 | 1 | |
| On a permanent contract | 3 | 3 | 2 | 1 |
| Joined | 4 | 1 | 1 | - |
| Left | 4 | 0 | 0 | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | €27,166 | - | - |
| Intangible fixed assets | €4,132 | - | €92,174 | - |
| €36,661 | €44,281 | €13,904 | €13,904 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €150,361, smaller than the loss of €218,455 in 2024.
Equity is negative. Debt (€544,064) exceeds the balance-sheet total (€234,400).
Source: shareholder structure in its own accounts
| ISOKINE
registered office since 21-12-2016 · founded in 2016 · accounts filed late |
total assets €230,367 (2024) 0667.957.935 |
The network starts from the directors of IDRO. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
IDRO was incorporated on 9 June 2020 as a private limited company by Kinetic Analysis B.V., with a starting capital of €4,000.12 The registered office was moved to Antwerpen-Deurne in 2024.3 In 2024 the capital was increased by €5,333.4 Since 2020, Kinetic Analysis B.V. has served as director.5 Total assets rose from €167,043 in 2021 to €234,400 in 2025 and headcount from 1 to 2.5 full-time equivalents.6
| Establishment | Since | Unit number |
|---|---|---|
| Ruggeveldlaan 750 registered office 2100 Antwerp | 16-03-2021 | 2.314.555.404 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11342A0330/00G006 | 1,886 m² | 1 · 276 m² | 28.8 m · 9 |
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