IHLAS
ActiveSummary
IHLAS has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €159k and a net result of €-495. Equity is shrinking by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 68% of 11389 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability48▲+42
Solvency90=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity ample (current ratio 2.07 against 1.96 in 2024; short-term debt: 35.3% and cash: 0.1% of total assets), and 35.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-495
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
108 d late
2023
31 d early
2022
1 d early
2021
32 d early
2020
57 d early
2019
52 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€159k▼ 0.3%
2024 · €160k
Total assets
€246k▼ 0.4%
2024 · €247k
Net result
€-495▲ 98.1%
2024 · €-26k
Working capital
€93k▲ 10.9%
2024 · €84k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€16k▲ 263%€19k▲ 18.9%€-24k€-24k▲ 2.0%€2k
Net result€14k▲ 314%€16k▲ 12.8%€-28k€-26k▲ 6.2%€-495▲ 98.1%
Equity€197k▲ 7.8%€213k▲ 8.2%€185k▼ 12.9%€160k▼ 13.9%€159k▼ 0.3%
Total assets€241k▲ 25.3%€247k▲ 2.6%€258k▲ 4.6%€247k▼ 4.6%€246k▼ 0.4%
Debt€44k▲ 361%€34k▼ 22.3%€73k▲ 114%€87k▲ 19.3%€87k▼ 0.5%
Working capital€92k▲ 36.9%€118k▲ 28.5%€101k▼ 14.3%€84k▼ 17.0%€93k▲ 10.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €2k after a loss of €24k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €246k
Fixed assets
€66k ▼ 12.8%
Current assets
€180k ▲ 5.1%
Equity and liabilities €246k
Equity
€159k ▼ 0.3%
Debt
€87k ▼ 0.5%
Debt's share of the balance-sheet total stays at 35.3%.
Key figures and ratios
EBITDA
€12k▲
2024 · €-14k
Cash flow
€9k▲
2024 · €-16k
Current ratio
2.07▲
2024 · 1.96
Quick ratio
1.93▲
2024 · 1.77
Debt to equity
0.54▼
2024 · 0.55
ROE
-0.3%▲
2024 · -16.2%
ROA
-0.2%▲
2024 · -10.5%
Interest coverage
3.56▲
2024 · -4.71
Debt ≤ 1 year
€87k▼
2024 · €87k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19k | €10k | €10k | €10k | €10k | = |
| Other operating charges640/8 | €15k | €2k | €31k | €19k | €22k | ▲ 14.3% |
| Non-recurring operating charges66A | - | - | €625 | - | - | - |
| Gross operating margin9900 | €50k | €31k | €17k | €5k | €33k | ▲ 549% |
| Operating profit (loss)9901 | €16k | €19k | €-24k | €-24k | €2k | ▲ 108% |
| Financial income75/76B | - | €247 | €536 | €731 | €852 | ▲ 16.5% |
| Recurring financial income75 | - | €247 | €536 | €731 | €852 | ▲ 16.5% |
| Financial charges65/66B | €1k | €3k | €4k | €3k | €3k | ▲ 9.9% |
| Recurring financial charges65 | €1k | €3k | €4k | €3k | €3k | ▲ 9.9% |
| Profit (loss) for the period before taxes9903 | €14k | €16k | €-28k | €-26k | €-495 | ▲ 98.1% |
| Profit (loss) for the period9904 | €14k | €16k | €-28k | €-26k | €-495 | ▲ 98.1% |
| Profit (loss) for the period to be appropriated9905 | €14k | €16k | €-28k | €-26k | €-495 | ▲ 98.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €241k | €247k | €258k | €247k | €246k | ▼ 0.4% |
| Fixed assets21/28 | €105k | €95k | €85k | €76k | €66k | ▼ 12.8% |
| Tangible fixed assets22/27 | €96k | €87k | €77k | €67k | €57k | ▼ 14.4% |
| Land and buildings22 | €90k | €82k | €74k | €66k | €57k | ▼ 12.5% |
| Plant, machinery and equipment23 | €6k | €4k | €3k | €1k | €0 | ▼ 100.0% |
| Financial fixed assets28 | €9k | €9k | €9k | €9k | €9k | = |
| Current assets29/58 | €136k | €152k | €173k | €171k | €180k | ▲ 5.1% |
| Stocks and contracts in progress3 | €33k | €23k | €19k | €17k | €12k | ▼ 25.6% |
| Stocks30/36 | €33k | €23k | €19k | €17k | €12k | ▼ 25.6% |
| Amounts receivable within one year40/41 | €103k | €129k | €154k | €154k | €167k | ▲ 8.6% |
| Trade receivables40 | €103k | €98k | €123k | €123k | €136k | ▲ 10.7% |
| Other amounts receivable41 | - | €31k | €31k | €31k | €31k | = |
| Cash at bank and in hand54/58 | - | - | €91 | €337 | €210 | ▼ 37.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €241k | €247k | €258k | €247k | €246k | ▼ 0.4% |
| Equity10/15 | €197k | €213k | €185k | €160k | €159k | ▼ 0.3% |
| Contributions10/11 | €519k | €519k | €519k | €519k | €519k | = |
| Reserves13 | €111k | €111k | €111k | €111k | €111k | = |
| Distributable reserves133 | €111k | €111k | €111k | €111k | €111k | = |
| Profit (loss) carried forward14 | €-433k | €-417k | €-445k | €-470k | €-471k | ▼ 0.1% |
| Amounts payable17/49 | €44k | €34k | €73k | €87k | €87k | ▼ 0.5% |
| Amounts payable within one year42/48 | €44k | €34k | €72k | €87k | €87k | ▼ 0.5% |
| Financial debts43 | €23k | €14k | €18k | €17k | €18k | ▲ 3.5% |
| Credit institutions430/8 | €15k | €14k | €18k | €17k | €18k | ▲ 3.5% |
| Other loans439 | €8k | - | - | - | - | - |
| Trade debts44 | €14k | €13k | €29k | €34k | €14k | ▼ 60.1% |
| Suppliers440/4 | €14k | €13k | €29k | €34k | €14k | ▼ 60.1% |
| Taxes, remuneration and social security45 | €6k | €4k | €3k | €3k | €14k | ▲ 423% |
| Taxes450/3 | €6k | €4k | €3k | €3k | €14k | ▲ 423% |
| Other amounts payable47/48 | - | €2k | €21k | €33k | €41k | ▲ 25.3% |
| Accrued charges and deferred income492/3 | - | €222 | €1k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14k | €16k | €-28k | €-26k | €-495 | ▲ 98.1% |
| + Depreciation and write-downs630 | €19k | €10k | €10k | €10k | €10k | = |
| Operating cash flow (approximation) | €33k | €26k | €-18k | €-16k | €9k | ▲ 157% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | - | - | €246 | €-127 | ▼ 152% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
16-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 108 days late
2024
30-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €16k ▲12.8%
Operating result €19k, net result €16k, both a record.
31-12
Financial
Equity above €200kEq €213k ▲8.2%
3 profitable years in a row build equity to €213k.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 8.06
Current ratio from 4.01 to 8.06; short-term debt falls from €17k to €10k.
09-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €-342k
Net result drops to €-342k, the lowest in the series; recovery starts the following year.
Show earlier events
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-06
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.
0 of 11 acts read
About the unread acts
We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
11 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 2000
Ground area
151 m²
Building footprint
41 m²
Volume, LiDAR
135 m³
Parcel 44038A0623/00F002, Flanders · tallest building 9.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
IHLAS
since 20002.115.943.152
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44038A0623/00F002indicative | Flanders | 151 m² | 1 · 41 m² | 9.2 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
0 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
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BE 0713.579.015
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ECO-PROJECTS
BE 0758.406.574
Bilzen-Hoeselt · Eq €157k
DM CREATION
BE 0869.480.977
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PIERRET MARKETING & DEVELOPMENT
BE 0461.960.817
Libin · Eq €155k
TEGULA FINA
BE 0739.916.790
Machelen (Brab.) · Eq €164k
Of 1,135 companies in sector 46130 we hold annual accounts for 646. 511 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-04-2000
Fiscal year end31-12
Activities, NACEBEL 2025
46130Agents in the wholesale of timber and building materials
Scores and ratios are computed by Checked and are not a credit decision.