IGest
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 24-06-2026 at the NBB all 8 filings
Turnover
≈ €150,000
Estimated: probably between €77,000 and €270,000
EBIT margin
Not included in this filing
Net result
-€12,604▲ 22.3%
2024 · -€16,226
Working capital
€56,138▲ 144%
2024 · €23,037
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€12,078
▲ 23.4%
2025
20192025
Net result
-€12,604
▲ 22.3%
2025
20192025
Equity
€597,894
▼ 2.1%
2025
20192025
Total assets
€598,400
▼ 3.0%
2025
20192025
Debt
€506
▼ 91.8%
2025
20192025
Working capital
€56,138
▲ 144%
2025
20192025
Staff (FTE)
0
▼ 100%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€12,812--€10,915▲ 14.8%-€4,202▲ 61.5%-€20,684▼ 392%-€32,365▼ 56.5%-€15,760▲ 51.3%-€12,078▲ 23.4%
Net result-€13,225--€11,084▲ 16.2%-€4,411▲ 60.2%-€20,910▼ 374%-€32,810▼ 56.9%-€16,226▲ 50.5%-€12,604▲ 22.3%
Equity€695,939-€684,854▼ 1.6%€680,443▼ 0.6%€659,533▼ 3.1%€626,724▼ 5.0%€610,498▼ 2.6%€597,894▼ 2.1%
Total assets€701,282-€686,004▼ 2.2%€683,893▼ 0.3%€665,730▼ 2.7%€631,832▼ 5.1%€616,635▼ 2.4%€598,400▼ 3.0%
Debt€5,343-€1,150▼ 78.5%€3,450▲ 200%€6,197▲ 79.6%€5,109▼ 17.6%€6,137▲ 20.1%€506▼ 91.8%
Working capital€16,351-€46,692▲ 186%€46,382▼ 0.7%€67,205▲ 44.9%€59,128▼ 12.0%€23,037▼ 61.0%€56,138▲ 144%
Staff (FTE)0.50.5=0.5=0.1▼ 80.0%0▼ 100%
The operating result for 2025 is a loss of €12,078, smaller than the loss of €15,760 in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €598,400
Fixed assets
€541,756 ▼ 7.8%
Current assets
€56,644 ▲ 94.2%
Equity and liabilities €598,400
Equity
€597,894 ▼ 2.1%
Debt
€506 ▼ 91.8%
Debt's share of the balance-sheet total falls from 1.0% to 0.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€33,627▲
2024 · €24,155
Cash flow
€33,101▲
2024 · €23,690
Debt to equity
0.00▼
2024 · 0.01
ROE
-2.1%▲
2024 · -2.7%
ROA
-2.1%▲
2024 · -2.6%
Interest coverage
63.92▲
2024 · 51.92
Debt ≤ 1 year
€506▼
2024 · €6,137
Supplier credit
67 days▼
2024 · 989 days
Staff costs
€59▼
2024 · €6,920
A ratio outside any meaningful range has been withheld (balance sheet total €598,400, equity €597,894).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | - | - |
| part-time | 1 | 1 | 1 | - | - |
| in full-time equivalents | 0.5 | 0.5 | 0.5 | - | - |
| Average over the year, in full-time equivalents | 0.5 | 0.5 | 0.5 | 0.1 | 0 |
| On a permanent contract | 1 | 1 | 1 | - | - |
| Joined | 1 | - | - | 0 | 0 |
| Left | 0 | - | - | 1 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €37,631 | - | €17,000 | €59,781 | - |
| Depreciation and write-downs of the year | €41,732 | €41,732 | €41,732 | €39,916 | €45,705 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | €1,787 | €3,069 | €7,029 | €2,265 | €2,765 | ▲ 22.0% |
| Remuneration, social security and pensions62 | - | - | €6,356 | €20,185 | €22,831 | €6,920 | €59 | ▼ 99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42,791 | €43,530 | €41,732 | €41,732 | €41,732 | €39,916 | €45,705 | ▲ 14.5% |
| Other operating charges640/8 | - | - | €4,052 | €5,973 | €8,674 | €6,738 | €6,949 | ▲ 3.1% |
| Gross operating margin9900 | €33,862 | €37,160 | €47,938 | €47,206 | €40,873 | €37,813 | €40,635 | ▲ 7.5% |
| Operating profit (loss)9901 | -€12,812 | -€10,915 | -€4,202 | -€20,684 | -€32,365 | -€15,760 | -€12,078 | ▲ 23.4% |
| Financial income75/76B | - | - | - | - | €0 | - | - | - |
| Recurring financial income75 | - | - | - | - | €0 | - | - | - |
| Financial charges65/66B | - | - | €209 | €225 | €445 | €465 | €526 | ▲ 13.1% |
| Recurring financial charges65 | €30 | €169 | €209 | €225 | €445 | €465 | €526 | ▲ 13.1% |
| Profit (loss) for the period before taxes9903 | -€12,842 | -€11,084 | -€4,411 | -€20,910 | -€32,810 | -€16,226 | -€12,604 | ▲ 22.3% |
| Income taxes67/77 | €383 | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | -€13,225 | -€11,084 | -€4,411 | -€20,910 | -€32,810 | -€16,226 | -€12,604 | ▲ 22.3% |
| Profit (loss) for the period to be appropriated9905 | -€13,225 | -€11,084 | -€4,411 | -€20,910 | -€32,810 | -€16,226 | -€12,604 | ▲ 22.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €701,282 | €686,004 | €683,893 | €665,730 | €631,832 | €616,635 | €598,400 | ▼ 3.0% |
| Fixed assets21/28 | €679,587 | €638,162 | €634,061 | €592,328 | €567,596 | €587,461 | €541,756 | ▼ 7.8% |
| Tangible fixed assets22/27 | €679,587 | €638,162 | €634,061 | €592,328 | €567,596 | €587,461 | €541,756 | ▼ 7.8% |
| Land and buildings22 | - | - | €634,061 | €592,328 | €567,596 | €587,461 | €541,756 | ▼ 7.8% |
| Current assets29/58 | €21,694 | €47,842 | €49,832 | €73,402 | €64,236 | €29,174 | €56,644 | ▲ 94.2% |
| Amounts receivable within one year40/41 | - | - | €175 | €175 | €175 | €175 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | €175 | €175 | €175 | €175 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €9,694 | €47,842 | €49,657 | €73,227 | €64,061 | €25,999 | €56,644 | ▲ 118% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €3,000 | €0 | ▼ 100% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €701,282 | €686,004 | €683,893 | €665,730 | €631,832 | €616,635 | €598,400 | ▼ 3.0% |
| Equity10/15 | €695,939 | €684,854 | €680,443 | €659,533 | €626,724 | €610,498 | €597,894 | ▼ 2.1% |
| Contributions10/11 | €125,063 | €125,063 | €125,063 | €125,063 | €125,063 | €125,063 | €125,063 | = |
| Capital10 | - | - | €125,063 | €125,063 | - | - | - | - |
| Issued capital100 | - | - | €125,063 | €125,063 | - | - | - | - |
| Reserves13 | €531,958 | €531,958 | €531,958 | €531,958 | €531,958 | €531,958 | €531,958 | = |
| Non-distributable reserves130/1 | - | - | €12,506 | €12,506 | - | - | - | - |
| Legal reserve130 | - | - | €12,506 | €12,506 | - | - | - | - |
| Distributable reserves133 | - | - | €519,451 | €519,451 | €531,958 | €531,958 | €531,958 | = |
| Profit (loss) carried forward14 | €38,918 | €27,834 | €23,422 | €2,513 | -€30,297 | -€46,523 | -€59,127 | ▼ 27.1% |
| Amounts payable17/49 | €5,343 | €1,150 | €3,450 | €6,197 | €5,109 | €6,137 | €506 | ▼ 91.8% |
| Amounts payable within one year42/48 | €5,343 | €1,150 | €3,450 | €6,197 | €5,109 | €6,137 | €506 | ▼ 91.8% |
| Trade debts44 | €5,343 | €1,150 | €1,543 | €2,262 | €1,182 | €6,137 | €506 | ▼ 91.8% |
| Suppliers440/4 | - | - | €1,543 | €2,262 | €1,182 | €6,137 | €506 | ▼ 91.8% |
| Taxes, remuneration and social security45 | - | - | €1,906 | €3,935 | €3,927 | €0 | - | - |
| Taxes450/3 | - | - | - | €0 | €0 | €0 | - | - |
| Remuneration and social security454/9 | - | - | €1,906 | €3,935 | €3,927 | €0 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,225 | -€11,084 | -€4,411 | -€20,910 | -€32,810 | -€16,226 | -€12,604 | ▲ 22.3% |
| + Depreciation and write-downs630 | €42,791 | €43,530 | €41,732 | €41,732 | €41,732 | €39,916 | €45,705 | ▲ 14.5% |
| Operating cash flow (approximation) | €29,566 | €32,446 | €37,321 | €20,823 | €8,923 | €23,690 | €33,101 | ▲ 39.7% |
| Investment in fixed assets (approximation) | - | -€2,105 | -€37,631 | €0 | -€17,000 | -€59,781 | €0 | - |
| Change in cash | - | €38,147 | €1,815 | €23,570 | -€9,165 | -€38,063 | €30,645 | - |
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, 929 companies had the same profile as IGest has now. Two years later, 92.8% were still going and 1.7% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 30% or more
- a small loss
92.8%
was still going
5.5%
stopped otherwise
1.7%
went bankrupt
The bankruptcy probability of IGest itself is lower: 0.1% within 12 months. It rests on far more data about IGest than the profile alone.
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 929 companies, not a prediction for IGest. 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 (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 24-06-2026 | 2026-00191487 | |
| 31-12-2024 | full format | 17-06-2025 | 2025-00143660 | |
| 31-12-2023 | full format | 12-06-2024 | 2024-00124017 | |
| 31-12-2022 | full format | 02-08-2023 | 2023-00306209 | |
| 31-12-2021 | full format | 05-08-2022 | 2022-20271760 | |
| 31-12-2020 | full format | 29-07-2021 | 2021-41600507 | |
| 31-12-2019 | full format | 10-08-2020 | 2020-39900155 | |
| 31-12-2018 | full format | 19-08-2019 | 2019-47400066 |