IHVANS
Open bankruptcyA bankruptcy procedure is open for IHVANS according to publications in the Belgian State Gazette; curator: WARD VAN MELDERT.
Summary
The file additionally contains 2 administrative flags. The 2023 annual accounts show equity of €87,842 and a net result of €11,811.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Brussels
- Declared bankrupt
- 2 December 2025
- Supervising judge
- Stijn Mollemans
- Official Gazette
- 08-12-2025 (pdf) ↗search the document for 2025/150667
Deadlines
- Provisional date payments stopped
- 2 December 2025A later judgment can change the date.art. XX.105 CEL
- Appeal or third-party opposition until
- passed on 23 December 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 1 January 2026art. XX.104 and XX.155 CEL
- First verification report
- passed on 7 January 2026Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 2 December 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Ward Van MeldertKunstlaan 24/9B, 1000 Brussel 1ward@rubiconlaw.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Administrative warnings in the KBO publications
2 publications by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or their withdrawal.
KBO publicationsPublications
Address struck×2
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment How is the Artisanal bread and fresh pastry making sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, micro schema
Turnover
€189,245
EBIT margin
9.2%
Net result
€11,811▼ 65.5%
2022 · €34,286
Working capital
€72,276▲ 17.0%
2022 · €61,771
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Turnover€189,245
Operating result€6,264▲ 231%-€2,111€17,501€38,308▲ 119%€13,521▼ 64.7%
Net result€8,480▲ 656%€800within the sector's middle half▼ 90.6%€14,884within the sector's middle half▲ 1,760%€34,286above the sector's middle half▲ 130%€11,811within the sector's middle half▼ 65.5%
EBIT margin9.2%
Equity€24,662▲ 52.4%€26,862within the sector's middle half▲ 8.9%€41,746within the sector's middle half▲ 55.4%€76,031within the sector's middle half▲ 82.1%€87,842within the sector's middle half▲ 15.5%
Total assets€56,384▲ 0.6%€62,603below the sector's middle half▲ 11.0%€56,885below the sector's middle half▼ 9.1%€137,897within the sector's middle half▲ 142%€171,436within the sector's middle half▲ 24.3%
Debt€31,723▼ 20.4%€35,742▲ 12.7%€15,140▼ 57.6%€61,866▲ 309%€83,593▲ 35.1%
Working capital€3,496€1,473▼ 57.9%€29,421▲ 1,898%€61,771▲ 110%€72,276▲ 17.0%
Solvency43.7%▲ 14.9pp42.9%within the sector's middle half▼ 0.8pp73.4%above the sector's middle half▲ 30.5pp55.1%above the sector's middle half▼ 18.2pp51.2%within the sector's middle half▼ 3.9pp
Staff (FTE)11.5▲ 50.0%
above
within
below
the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2023; 2023 is 65% below 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €171,436
Fixed assets
€15,567 ▲ 9.2%
Current assets
€155,869 ▲ 26.1%
Equity and liabilities €171,436
Equity
€87,842 ▲ 15.5%
Debt
€83,593 ▲ 35.1%
Debt's share of the balance-sheet total rises from 44.9% to 48.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€16,214▼
2022 · €42,373
Cash flow
€14,505▼
2022 · €38,350
Current ratio
1.86▼
2022 · 2.00
Quick ratio
1.85▼
2022 · 1.97
Debt to equity
0.95▲
2022 · 0.81
ROE
13.4%▼
2022 · 45.1%
ROA
6.9%▼
2022 · 24.9%
Interest coverage
9.49▼
2022 · 35.05
Debt ≤ 1 year
€83,593▲
2022 · €61,866
Staff costs
€53,585▼
2022 · €78,285
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €189,245 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €131,602 | €188,275 | - | - |
| Remuneration, social security and pensions62 | - | - | €24,489 | €78,285 | €53,585 | ▼ 31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | €2,876 | €4,065 | €4,065 | €2,693 | ▼ 33.7% |
| Other operating charges640/8 | - | - | €11,587 | €23,867 | €10,887 | ▼ 54.4% |
| Gross operating margin9900 | €14,851 | €11,393 | €57,643 | €144,524 | €80,686 | ▼ 44.2% |
| Operating profit (loss)9901 | €6,264 | -€2,111 | €17,501 | €38,308 | €13,521 | ▼ 64.7% |
| Financial income75/76B | - | - | €0 | - | - | - |
| Recurring financial income75 | €0 | €0 | €0 | - | - | - |
| Financial charges65/66B | - | - | €622 | €1,939 | €1,709 | ▼ 11.8% |
| Recurring financial charges65 | €514 | €596 | €622 | €1,209 | €1,709 | ▲ 41.4% |
| Non-recurring financial charges66B | - | - | - | €730 | - | - |
| Profit (loss) for the period before taxes9903 | €9,009 | €800 | €16,879 | €36,369 | €11,811 | ▼ 67.5% |
| Income taxes67/77 | €529 | €0 | €1,996 | €2,084 | - | - |
| Profit (loss) for the period9904 | €8,480 | €800 | €14,884 | €34,286 | €11,811 | ▼ 65.5% |
| Profit (loss) for the period to be appropriated9905 | €8,480 | €800 | €14,884 | €34,286 | €11,811 | ▼ 65.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €56,384 | €62,603 | €56,885 | €137,897 | €171,436 | ▲ 24.3% |
| Formation expenses20 | €0 | €0 | - | - | - | - |
| Fixed assets21/28 | €21,166 | €25,389 | €12,325 | €14,260 | €15,567 | ▲ 9.2% |
| Intangible fixed assets21 | €0 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €9,166 | €13,389 | €9,325 | €5,260 | €6,567 | ▲ 24.8% |
| Plant, machinery and equipment23 | - | - | €3,876 | €1,232 | - | - |
| Furniture and vehicles24 | - | - | €5,448 | €4,028 | €6,567 | ▲ 63.0% |
| Financial fixed assets28 | €12,000 | €12,000 | €3,000 | €9,000 | €9,000 | = |
| Current assets29/58 | €35,219 | €37,214 | €44,560 | €123,637 | €155,869 | ▲ 26.1% |
| Stocks and contracts in progress3 | €0 | €0 | - | €1,590 | €1,590 | = |
| Contracts in progress37 | - | - | - | €1,590 | €1,590 | = |
| Amounts receivable within one year40/41 | €29,728 | €34,458 | €44,126 | €94,344 | €112,455 | ▲ 19.2% |
| Trade receivables40 | - | - | €43,345 | €55,219 | €77,913 | ▲ 41.1% |
| Other amounts receivable41 | - | - | €781 | €39,124 | €34,541 | ▼ 11.7% |
| Current investments50/53 | €0 | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €5,491 | €2,757 | €348 | €27,587 | €41,825 | ▲ 51.6% |
| Deferred charges and accrued income490/1 | - | - | €87 | €117 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €56,384 | €62,603 | €56,885 | €137,897 | €171,436 | ▲ 24.3% |
| Equity10/15 | €24,662 | €26,862 | €41,746 | €76,031 | €87,842 | ▲ 15.5% |
| Contributions10/11 | €17,200 | - | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €960 | €960 | €960 | €960 | €960 | = |
| Non-distributable reserves130/1 | - | - | €960 | €960 | €960 | = |
| Reserves not available under the articles1311 | - | - | €960 | €960 | €960 | = |
| Profit (loss) carried forward14 | €6,501 | €7,302 | €22,185 | €56,471 | €68,282 | ▲ 20.9% |
| Amounts payable17/49 | €31,723 | €35,742 | €15,140 | €61,866 | €83,593 | ▲ 35.1% |
| Amounts payable within one year42/48 | €31,723 | €35,742 | €15,140 | €61,866 | €83,593 | ▲ 35.1% |
| Trade debts44 | €1,364 | €5,508 | €2,981 | €19,703 | €15,333 | ▼ 22.2% |
| Suppliers440/4 | - | - | €2,981 | €19,703 | €15,333 | ▼ 22.2% |
| Taxes, remuneration and social security45 | - | - | €11,247 | €36,852 | €62,948 | ▲ 70.8% |
| Taxes450/3 | - | - | €6,593 | €36,385 | €36,846 | ▲ 1.3% |
| Remuneration and social security454/9 | - | - | €4,653 | €467 | €26,102 | ▲ 5,494% |
| Other amounts payable47/48 | - | - | €912 | €5,312 | €5,312 | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,480 | €800 | €14,884 | €34,286 | €11,811 | ▼ 65.5% |
| + Depreciation and write-downs630 | €0 | €2,876 | €4,065 | €4,065 | €2,693 | ▼ 33.7% |
| Operating cash flow (approximation) | €8,480 | €3,677 | €18,948 | €38,350 | €14,505 | ▼ 62.2% |
| Investment in fixed assets (approximation) | - | -€7,100 | €9,000 | -€6,000 | -€4,000 | ▲ 33.3% |
| Change in cash | - | -€2,734 | -€2,409 | €27,240 | €14,237 | ▼ 47.7% |
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
2025
08-12
Bankruptcy
Opening
Ondernemingsrechtbank Brussel · event 02-12-2025
27-10
KBO administration
Address struck
Excelsiorlaan 71 1930 Die Sitzadresse Excelsiorlaan 71 1930
Zaventem · event 13-08-2025
25-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 237 days late
2024
01-03
KBO administration
Address struck
event 20-12-2023
2023
29-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 90 days late
2022
31-12
Financial
Highest result since 2018net €34,286 ▲130%
Operating result €38,308, net result €34,286, both a record.
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity triplescurrent ratio 2.94
Current ratio from 1.04 to 2.94; short-term debt falls from €35,742 to €15,140.
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €800 ▼90.6%
Net result drops to €800, the lowest in the series.
23-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 84 days late
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 57 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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 · 2 establishment units since 2018
Ground area
879 m²
Building footprint
716 m²
Volume, LiDAR
5,389 m³
3 parcels, Flanders · tallest building 13.4 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
Establishment
since 20182.277.758.453
Sirac Bakkerij
since 20232.351.225.065
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44804D0080/00T002 | Flanders | 337 m² | 1 · 212 m² | 13.4 m · 4 fl. |
| 23015C0093/00M002 | Flanders | 272 m² | 1 · 452 m² | 12.6 m · 2 fl. |
| 44051B0237/00H000 | Flanders | 269 m² | 1 · 52 m² | 6.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | WARD VAN MELDERT KUNSTLAAN 24/9B,
1000 BRUSSEL 1 |
02-12-2025 → present |
Recognitions · licences · registrations
Food safety, FASFC
1 siteMachelen (Vl.Br.)2.351.225.065
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Of 4,228 companies in sector 10712 we hold annual accounts for 1,874. 1,596 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 (pre-2019)
Founded30-05-2016
Fiscal year end31-12
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
10720Manufacture of food products
49410Freight transport by road
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.