IGEL TECHNOLOGY BVBA
ActiveIGEL TECHNOLOGY BVBA has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €26k and a net result of €14k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 14% of 7892 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency27▼-7
Growth58=
Stability100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 1.6 against 2.63 in 2024), but 95.7% 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 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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
4.3%
Return on assets
2.4%
Age of the figures
8 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 7892 sector peers (2025).
NBB · sector comparisonPosition among 7892 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-05-2026, 80 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
80 d early
2024
27 d late
2023
41 d early
2022
80 d early
2021
30 d early
2020
30 d early
2019
28 d early
← 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
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€26k▲ 124%
2024 · €12k
2018: €200k
2019: €337k
2020: €167k
2021: €-49k
2022: €-25k
2023: €-3k
2024: €12k
2018 → 2025
Total assets
€609k▼ 28.3%
2024 · €850k
2018: €466k
2019: €1.09M
2020: €785k
2021: €797k
2022: €595k
2023: €746k
2024: €850k
2018 → 2025
Net result
€14k▼ 4.1%
2024 · €15k
2018: €-40k
2019: €137k
2020: €-170k
2021: €-223k
2022: €24k
2023: €22k
2024: €15k
2018 → 2025
Working capital
€45k▼ 73.5%
2024 · €170k
2018: €235k
2019: €501k
2020: €489k
2021: €540k
2022: €517k
2023: €634k
2024: €170k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-49k-€-25k▲ 48.1%€-3k▲ 86.7%€12k€26k▲ 124%
Operating result€-194k-€32k€29k▼ 9.9%€5k▼ 81.3%€3k▼ 41.4%
Net result€-223k-€24k€22k▼ 6.6%€15k▼ 31.6%€14k▼ 4.1%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 41% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €609k
Fixed assets
€490k▼ 15.1%
Current assets
€120k▼ 56.2%
Equity and liabilities €609k
Equity
€26k▲ 124%
Debt
€583k▼ 30.4%
The debt ratio falls from 98.6% to 95.7%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€4k▼
2024 · €6k
Cash flow
€15k▼
2024 · €16k
Solvency
4.3%▲
2024 · 1.4%
Current ratio
1.60▼
2024 · 2.63
Quick ratio
1.60▼
2024 · 2.63
Debt / equity
22.29▼
2024 · 71.68
ROE
55.3%▼
2024 · 129.0%
ROA
2.4%▲
2024 · 1.8%
Interest coverage
0.94▼
2024 · 1.74
Debt
€583k▼
2024 · €838k
Debt ≤ 1 year
€75k▼
2024 · €104k
Income taxes
€430▼
2024 · €467
Staff costs
€272k▲
2024 · €246k
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€850k€609k▼
Fixed assets21/28€577k€490k▼
Tangible fixed assets22/27€383€0▼
Furniture and vehicles24€383€0▼
Financial fixed assets28€576k€490k▼
Current assets29/58€273k€120k▼
Amounts receivable within one year40/41€85k€50k▼
Trade receivables40€85k€47k▼
Other amounts receivable41-€4k
Cash at bank and in hand54/58€171k€60k▼
Deferred charges and accrued income490/1€17k€10k▼
Equity and liabilities
Total equity and liabilities10/49€850k€609k▼
Equity10/15€12k€26k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€-9k€6k▲
Amounts payable17/49€838k€583k▼
Amounts payable within one year42/48€104k€75k▼
Trade debts44€22k€31k▲
Suppliers440/4€22k€31k▲
Taxes, remuneration and social security45€43k€44k▲
Taxes450/3€6k€477▼
Remuneration and social security454/9€37k€43k▲
Other amounts payable47/48€39k-
Accrued charges and deferred income492/3€735k€509k▼
Income statement
Code20242025
Remuneration, social security and pensions62€246k€272k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€601€383▼
Other operating charges640/8€51€1k▲
Gross operating margin9900€252k€277k▲
Operating profit (loss)9901€5k€3k▼
Financial income75/76B€14k€16k▲
Recurring financial income75€14k€16k▲
Financial charges65/66B€3k€4k▲
Recurring financial charges65€3k€4k▲
Profit (loss) for the period before taxes9903€16k€15k▼
Income taxes67/77€467€430▼
Profit (loss) for the period9904€15k€14k▼
Profit (loss) for the period to be appropriated9905€15k€14k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-9k€6k▲
Profit (loss) brought forward from the previous period14P€-24k€-9k▲
Social balance
Average headcount (FTE)90872.02.0=
The notes to these accounts (6 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
12-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 27 days late
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
12-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €24k
Net result €24k after 2 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 7.96
Current ratio from 3.12 to 7.96; short-term debt falls from €254k to €74k.
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €-223k
Net result drops to €-223k, the lowest in the series; recovery starts the following year.
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €137k
Net result €137k after one loss-making year.
31-12
Financial
Equity above €200kEq €337k ▲68.6%
Equity rises from €200k to €337k.
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
08-06
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
2 directors, no change since 2024
Thomas Frey
CurrentDirector · since 24-07-2024
24-07-2024
Thomas Frey: Appointed as Director
24-07-2024
Margrit Christiane Ohlgart: Resigned as Director
24-07-2024
Margrit Christiane Ohlgart: Resigned as Managing director
Location & real-estate footprint
Registered office, Leuven · 1 establishment unit since 2013
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.
Interleuvenlaan 623001 LeuvenGround area
9,445 m²
Building footprint
412 m²
Volume, LiDAR
2,601 m³
Parcel 24514C0086/00N000, Flanders · tallest building 7.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Igel Technology BVBA
since 20132.220.340.985
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24514C0086/00N000 | Flanders | 9,445 m² | 1 · 412 m² | 7.3 m · 2 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.
Similar companies · same sector, comparable size
ULTIMATE & UNLIMITED SKILLS
BE 0862.754.226
Châtelet · Eq €26k
BEVA
BE 0466.164.380
Zwevegem · Eq €27k
Im Press
BE 0731.635.960
Kortrijk · Eq €27k
S.K.N.
BE 0461.070.197
Waregem · Eq €27k
OUCHI
BE 0656.949.425
Sint-Jans-Molenbeek · Eq €26k
Of 2,120 companies in sector 46500 we hold annual accounts for 1,400. 711 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-06-2013
Fiscal year end31-12
Activities, NACEBEL
46500Wholesale of information and communication equipment
46510Wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.