Equity
-€95,770
Debts exceed assets in financial year 2025.
IHA
Lifetime
19 annual accounts with figures on one time axispeak €134,434 (2022)
-€67,978▼ €194,506
lowest -€216,657 (2025)
-€216,657▼ €184,654
peak €166,310 (2022)
-€95,770▼ €210,200
€1.1m▲ 11.2%
peak 1.1 FTE (2022)
-not published
Board3 names since 2015
2 directorsKamil BARUK and 1 other
Documentsfilings and deeds
18-06-202643 days before the deadline
2025financial year
Gross margin from €126,528 to -€67,978Loss of €216,657Equity from €114,430 to -€95,770
Key points
from the 2025 annual accountsLosses
-€268,537 in three years
Every financial year from 2023 to 2025 closed with a loss. 2025 was the heaviest.
Debts
€1.1m 110% of the balance sheet
Financial debts 29%Suppliers 60%Taxes and wages 1%Other 10%
Of this, €752,402 falls due within a year.
Net result -577%: other schema
Checked score
48
Fair
Financially stronger than 5% of micro companies in specialised construction (NACE 43)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
3.1% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,696 companies (NACE 43, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%lowest value
01-2025: 0.3%● unchanged vs 12-2024lowest value
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.4%▲ +0.1 percentage points vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.6%▲ +0.2 percentage points vs 06-2025
08-2025: 0.9%▲ +0.3 percentage points vs 07-2025
09-2025: 0.5%▼ -0.4 percentage points vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.5%● unchanged vs 03-2026
05-2026: 0.6%▲ +0.1 percentage points vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 3.1%▲ +2.5 percentage points vs 06-2026highest value
08-2026: 3.1%● unchanged vs 07-2026highest value
09-2026: 3.1%● unchanged vs 08-2026highest value
10-2026: 3.1%● unchanged vs 09-2026highest value
11-2026: 3.1%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Loss of €216,657, the second in a row (financial year 2025)
Liquidity: current ratio 0.67
Negative equity -€95,770
lowers risk
Size: total assets €971,928
Calculation
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 43, micro). It does better than 7% of them on solvency, 9% on liquidity, 4% on profitability and 2% on growth.
The bankruptcy probability was computed on 10-11-2026 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 moderate class on 30-06-2025, 2.4% 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).
Comparable companies, two years later
In July 2024, 598 companies had the same profile as IHA has now. Each dot stands for 2 companies, two years later.
83.1%
were still trading
6.0%
stopped another way
9.4%
went bankrupt
Another 1.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IHA itself: 3.1% within 12 months.
Test of the method
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 598 companies, not a prediction for IHA. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.67 (0.91 in 2024), below 1. Short-term debt is 77.4% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€95,770
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 18-06-2026, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
43 days early
2024
29 days late
2023
27 days late
2022
28 days late
2021
32 days early
2020
6 days late
2019
18 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average on the deadline day. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 August (4 of the last 5 accounts filed within 60 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0885627915
Environmental permit granted
Verbouwen en/of uitbreiden met functiewijziging en met wijziging van aantal woongelegenheden · Provincie Antwerpen
Environmental permit granted
Verbouwen en/of uitbreiden met functiewijziging en met wijziging van aantal woongelegenheden · Provincie Antwerpen
Changes of role: Pawel BARUK (director) and Kamil BARUK (director)
“Alle activiteiten van bouwen,verbouwen en renoveren van onroerende goederen; Stukadoorswerkzaamheden…” (deed in Dutch) · Legal-form conversion: from private limited company (pre-2019) to private limited company · General meeting of 11-12-2019 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| IHA Antwerp | €1.0m | -€67,978 | -9.9% | - |
| VAN LOOY - HERMANS Lille | €0.8m | -€17,513 | 97.7% | - |
| P.V.M Zoutleeuw | €0.6m | -€126,672 | 53.5% | - |
| BVBA DOBBELAERE G & B Merelbeke-Melle | €0.6m | -€3,868 | 98.3% | - |
| TAMEGA Anderlecht | €1.4m | -€7,834 | 30.6% | - |
| W&P Oud-Turnhout | €0.5m | -€20,489 | 44.6% | - |
| LEADER CONSTRUCT Beersel | €2.0m | -€159,288 | 23.0% | 4.9 |
These companies have the same main activity as IHA: plastering work (NACE 43310). They are comparable in size and age: total assets between €526,000 and €2m, founded between 1995 and 2011.
Official details
Source: KBO- Status
- Active since 13-12-2006Normal situation
- Activity
- Plastering workNACE 43310
- Joint committee
- 124Construction · annual accounts 2022
- Establishment unit
- 2.158.829.5252100 Antwerp, since 13-12-2006
- Financial year end
- 31 December
- Peppol
- Reachable since 21-09-2026
Annual accounts 2025
- €971,928▼ 9.5%
- ≈ 0.2 FTEestimated
- Filing
- Filed on 18-06-2026, 43 days before the end of the filing period
Insights on IHA
Solvency fell in 2025 from 10.6% to -9.9% because of the loss and higher debts to suppliers.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about IHA
- What is the company number of IHA?
- The company number of IHA is 0885.627.915. The VAT number is the same number with BE in front: BE 0885.627.915.
- Where is IHA based?
- The registered office is at Louis Wanbecqstraat 20, 2100 Antwerp.Company details
- What does IHA do?
- According to the KBO register, the main activity is plastering work (NACE 43310).
- What is the legal form of IHA?
- IHA is a private limited company (BV).
- When was IHA founded?
- IHA was founded on 13-12-2006.
- Is IHA still active?
- Yes, IHA is an active enterprise in the KBO register.
- How many employees does IHA have?
- IHA had an average of 1.1 full-time equivalents in financial year 2022, according to the filed annual accounts.Financials
- Which joint committee does IHA fall under?
- In its 2022 annual accounts, IHA states joint committee 124 (Construction).
- What is the turnover of IHA?
- The annual accounts for financial year 2025 state no turnover.
- Is IHA profitable?
- In financial year 2025, IHA made a loss of €216,657.
- Where can I find the annual accounts of IHA?
- IHA filed 19 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of IHA due?
- IHA must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
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