IHNAT CONSTRUCT

Active Private limited companyfounded 2016active for 10 yearsAlsembergsesteenweg 34, 1630 LinkebeekKBO/BCE: BE 0662.634.912 #7 oldest company in Linkebeek, Construction sector

IHNAT CONSTRUCT

Financial year 2025

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Annual accounts 2025

micro format, filed on 26-10-2026, 87 days late

Gross margin

€39,892

▲ 171%

Operating result

€36,239

▲ 171%

EBITDA

€36,479

Cash flow

€25,897

Solvency

61.2%

▲ 29.2 percentage points

Current ratio

2.55

▲ 1.08

In the rankings #7 oldest company in Linkebeek, Construction sector

Money flows

no detail for 2025

Balance sheet

balance sheet total €92,660 on 31-12-2025

What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Position in the sector

Compare with sector

Solvency61.2%

Higher than 66% of 35,060 companies in 2025.

Current ratio2.55

Higher than 65% of 34,437 companies in 2025.

Return on assets27.7%

Higher than 85% of 34,637 companies in 2025.

IHNAT CONSTRUCT Middle half of the sector 80% of the sector Micro accounts in specialised construction (NACE 43)

Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017
Balance sheet: assets
Total assets`20/58`	92,660	96,997	121,122	23,784	38,456	28,529	19,716	7,572	2,117
Fixed assets`21/28`	1,009	50	50	50	50	-	1,192	2,385	-
Tangible fixed assets`22/27`	959	-	-	-	-	-	1,192	2,385	-
Plant, machinery and equipment`23`	-	-	-	-	-	-	100	200	-
Furniture and vehicles`24`	959	-	-	-	-	-	1,093	2,185	-
Financial fixed assets`28`	50	50	50	50	50	-	-	-	-
Current assets`29/58`	91,651	96,947	121,072	23,734	38,406	28,529	18,524	5,187	2,117
Amounts receivable within one year`40/41`	91,522	94,945	117,072	19,058	37,290	23,310	17,602	4,293	2,060
Trade receivables`40`	39,853	79,497	109,204	13,484	34,840	22,548	17,045	3,420	543
Other amounts receivable`41`	51,669	15,448	7,868	5,574	2,450	762	557	874	1,516
Cash at bank and in hand`54/58`	129	2,002	-	4,676	614	5,121	851	641	58
Deferred charges and accrued income`490/1`	-	-	4,000	-	502	97	71	253	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	92,660	96,997	121,122	23,784	38,456	28,529	19,716	7,572	2,117
Equity`10/15`	56,725	31,068	21,422	19,298	16,112	16,297	13,333	4,039	1,190
Contributions`10/11`	1	1	1	1	1	1	1	1	1
Issued capital`100`	-	-	-	-	-	-	1	1	1
Reserves`13`	3,333	3,333	3,333	3,333	3,333	3,333	3,333	1,010	297
Non-distributable reserves`130/1`	3,333	3,333	3,333	3,333	3,333	3,333	-	-	-
Legal reserve`130`	-	-	-	-	-	-	3,333	1,010	297
Reserves not available under the articles`1311`	3,333	3,333	3,333	3,333	3,333	3,333	-	-	-
Profit (loss) carried forward`14`	53,391	27,734	18,088	15,964	12,778	12,963	9,999	3,029	892
Amounts payable`17/49`	35,934	65,929	99,700	4,486	22,344	12,231	6,383	3,533	927
Amounts payable after more than one year`17`	-	-	-	-	49	-	-	582	-
Financial debts`170/4`	-	-	-	-	49	-	-	582	-
Amounts payable within one year`42/48`	35,934	65,929	99,700	4,486	22,295	12,231	6,383	2,951	927
Current portion of amounts payable after more than one year`42`	-	-	-	-	295	-	582	635	-
Financial debts`43`	-	-	3,153	-	-	-	-	-	-
Credit institutions`430/8`	-	-	3,153	-	-	-	-	-	-
Trade debts`44`	23,742	58,550	90,563	946	19,066	7,721	2,956	1,362	488
Suppliers`440/4`	23,742	58,550	90,563	946	19,066	7,721	2,956	1,362	488
Taxes, remuneration and social security`45`	12,192	7,379	5,983	3,540	2,933	4,511	2,844	953	439
Taxes`450/3`	10,912	7,379	5,983	3,540	2,933	4,511	2,844	953	439
Remuneration and social security`454/9`	1,280	-	-	-	-	-	-	-	-
Income statement
Turnover`70`	-	-	-	-	152,747	-	-	-	-
Gross operating margin`9900`	39,892	14,734	6,374	10,322	3,639	8,825	13,819	5,421	1,590
Goods, raw materials, services and sundry goods`60/61`	-	-	-	-	153,884	-	-	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	240	-	-	-	0	1,192	1,192	1,192	-
Other operating charges`640/8`	3,414	1,355	2,088	2,809	2,313	2,337	325	338	-
Operating profit (loss)`9901`	36,239	13,379	4,286	7,513	1,326	5,295	12,301	3,890	1,590
Financial income`75/76B`	1,345	176	78	-	51	37	34	54	29
Recurring financial income`75`	1,345	176	78	-	51	37	34	54	29
Financial charges`65/66B`	1,180	554	410	2,290	339	702	197	143	18
Recurring financial charges`65`	1,180	554	410	2,290	339	702	197	143	18
Profit (loss) for the period before taxes`9903`	36,403	13,001	3,955	5,223	1,038	4,630	12,139	3,801	1,602
Income taxes`67/77`	10,746	3,355	1,831	2,037	1,223	1,666	2,844	953	413
Profit (loss) for the period`9904`	25,657	9,646	2,124	3,186	-185	2,964	9,294	2,849	1,189
Profit (loss) for the period to be appropriated`9905`	25,657	9,646	2,124	3,186	-185	2,964	9,294	2,849	1,189
Appropriation of the result
Profit (loss) to be appropriated`9906`	53,391	27,734	18,088	15,964	12,778	12,963	12,323	3,741	1,189
Profit (loss) brought forward from the previous period`14P`	27,734	18,088	15,964	12,778	12,963	-	-	-	-
Transfer to equity`691/2`	-	-	-	-	-	-	2,324	712	297
To the legal reserve`6920`	-	-	-	-	-	-	2,324	712	297
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The notes to these accounts have 6 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 26-10-2026.

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Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 annual accounts filed 87 days after the deadline. Filed on 26 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00599595.

Financial year	Type	Filed	Reference	Document
31-12-2025	micro format	26-10-2026	2026-00599595	PDF
31-12-2024	micro format	11-07-2025	2025-00260762	PDF
31-12-2023	micro format	11-06-2024	2024-00124808	PDF
31-12-2022	micro format	17-10-2023	2023-00486958	PDF
31-12-2021	micro format	14-09-2022	2022-20430528	PDF
31-12-2020	micro format	19-08-2021	2021-50500449	PDF
31-12-2019	micro format	09-09-2020	2020-52200178	PDF
31-12-2018	micro format	30-08-2019	2019-57500126	PDF
31-12-2017	micro format	02-08-2018	2018-43300326	PDF

Key figures and ratios

per financial year, computed from the annual accounts

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017
EBITDA	36,479	-	-	-	1,326	6,488	13,494	5,083	-
Cash flow	25,897	-	-	-	-185	4,156	10,487	4,041	-
Investment in fixed assets (approximation)	1,198	-	-	-	50	0	0	3,577	-
Change in cash	-1,873	-	-	4,062	-4,507	4,271	210	583	-
Working capital	55,717	31,018	21,372	19,248	16,111	16,297	12,141	2,237	1,190
EBIT margin	-	-	-	-	0.9%	-	-	-	-
Solvency	61.2%	32.0%	17.7%	81.1%	41.9%	57.1%	67.6%	53.3%	-
Current ratio	2.55	1.47	1.21	5.29	1.72	2.33	2.90	1.76	-
Debt to equity	0.63	2.12	4.65	0.23	1.39	0.75	0.48	0.87	-
ROE	45.2%	31.0%	9.9%	16.5%	-1.1%	18.2%	69.7%	70.5%	-
ROA	27.7%	9.9%	1.8%	13.4%	-0.5%	10.4%	47.1%	37.6%	-
Interest coverage	30.90	-	-	-	3.91	-	-	-	-
Customer credit	-	-	-	-	83 days	-	-	-	-
Supplier credit	-	-	-	-	45 days	-	-	-	-

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.

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€1,198	-	-	-	-
Financial fixed assets	-	-	-	-	€50
Depreciation and write-downs of the year	€240	-	-	-	€0

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on IHNAT CONSTRUCT

The operating result for 2025 is 171% higher than in 2024 and the highest since 2017. It is the second rise in a row, after the fall in 2023.

Debt's share of the balance-sheet total falls from 68.0% to 38.8%. Equity is higher and debt is lower.

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