IKARUSRACING
ActiveSummary
IKARUSRACING has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €50,455 and a net result of -€23,020. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 59% of 18973 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability50▼-21
Solvency70▲+4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity short (current ratio 0.61 against 0.8 in 2024; short-term debt: 55.5% and cash: 6.5% of total assets), and 55.5% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
44.5%
Return on assets
-20.3%
Age of the figures
9 mo
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 16-07-2026, 15 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
15 d early
2024
13 d early
2023
19 d early
2022
14 d early
2021
12 d early
2020
12 d early
2019
8 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 13 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
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. Usually files around 17 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€50,455▼ 31.3%
2024 · €73,475
Total assets
€113,310▼ 37.5%
2024 · €181,395
Net result
-€23,020
2024 · €3,927
Working capital
-€24,470▼ 15.6%
2024 · -€21,167
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€2,516€194,530▲ 7,631%€23,734▼ 87.8%€5,911▼ 75.1%-€22,167
Net result-€3,746below the sector's middle half▲ 94.5%€174,305above the sector's middle half€16,318within the sector's middle half▼ 90.6%€3,927within the sector's middle half▼ 75.9%-€23,020below the sector's middle half
Equity-€121,076below the sector's middle half▼ 3.2%€53,230within the sector's middle half€69,548within the sector's middle half▲ 30.7%€73,475within the sector's middle half▲ 5.6%€50,455within the sector's middle half▼ 31.3%
Total assets€6,761below the sector's middle half▼ 75.7%€245,148within the sector's middle half▲ 3,526%€217,124within the sector's middle half▼ 11.4%€181,395within the sector's middle half▼ 16.5%€113,310within the sector's middle half▼ 37.5%
Debt€127,836▼ 11.9%€191,919▲ 50.1%€147,576▼ 23.1%€107,920▼ 26.9%€62,855▼ 41.8%
Working capital-€121,076below the sector's middle half▲ 6.5%€30,230within the sector's middle half-€50,202below the sector's middle half-€21,167below the sector's middle half▲ 57.8%-€24,470below the sector's middle half▼ 15.6%
Solvency21.7%within the sector's middle half32.0%within the sector's middle half▲ 10.3pp40.5%within the sector's middle half▲ 8.5pp44.5%within the sector's middle half▲ 4.0pp
Current ratio0.05below the sector's middle half▼ 0.051.16within the sector's middle half▲ 1.100.66below the sector's middle half▼ 0.500.80below the sector's middle half▲ 0.140.61below the sector's middle half▼ 0.19
Return on assets (ROA)-55.4%below the sector's middle half▲ 191.7pp71.1%above the sector's middle half▲ 126.5pp7.5%within the sector's middle half▼ 63.6pp2.2%within the sector's middle half▼ 5.4pp-20.3%below the sector's middle half▼ 22.5pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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 turns negative in 2025: a loss of €22,167 after €5,911 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €113,310
Fixed assets
€74,925 ▼ 20.8%
Current assets
€38,385 ▼ 55.8%
Equity and liabilities €113,310
Equity
€50,455 ▼ 31.3%
Debt
€62,855 ▼ 41.8%
Debt's share of the balance-sheet total falls from 59.5% to 55.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€33,858▼
2024 · €50,461
Cash flow
€33,005▼
2024 · €48,477
Debt to equity
1.25▼
2024 · 1.47
ROE
-45.6%▼
2024 · 5.3%
Interest coverage
96.08▼
2024 · 253.04
Debt ≤ 1 year
€62,855▼
2024 · €107,920
Income taxes
€500▼
2024 · €1,998
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,592 companies that looked in July 2024 the way this one looks now, 3.0% went bankrupt within 24 months and 87% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
3.0%
went bankrupt
9.5%
stopped otherwise
87%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,592 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €348 | - | - | €791 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €23,000 | €84,550 | €44,550 | €56,025 | ▲ 25.8% |
| Other operating charges640/8 | €11,420 | €626 | €14,516 | €126 | €2,528 | ▲ 1,906% |
| Non-recurring operating charges66A | - | - | - | €31,600 | - | - |
| Gross operating margin9900 | €14,284 | €218,156 | €122,800 | €82,978 | €36,386 | ▼ 56.2% |
| Operating profit (loss)9901 | €2,516 | €194,530 | €23,734 | €5,911 | -€22,167 | ▼ 475% |
| Financial income75/76B | €241 | - | €989 | €214 | - | - |
| Recurring financial income75 | €241 | - | €989 | €214 | - | - |
| Financial charges65/66B | €6,267 | €44 | €44 | €199 | €352 | ▲ 76.7% |
| Recurring financial charges65 | €6,267 | €44 | €44 | €199 | €352 | ▲ 76.7% |
| Profit (loss) for the period before taxes9903 | -€3,510 | €194,487 | €24,679 | €5,926 | -€22,520 | ▼ 480% |
| Income taxes67/77 | €236 | €20,181 | €8,361 | €1,998 | €500 | ▼ 75.0% |
| Profit (loss) for the period9904 | -€3,746 | €174,305 | €16,318 | €3,927 | -€23,020 | ▼ 686% |
| Profit (loss) for the period to be appropriated9905 | -€3,746 | €174,305 | €16,318 | €3,927 | -€23,020 | ▼ 686% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6,761 | €245,148 | €217,124 | €181,395 | €113,310 | ▼ 37.5% |
| Fixed assets21/28 | - | €23,000 | €119,750 | €94,642 | €74,925 | ▼ 20.8% |
| Tangible fixed assets22/27 | - | €23,000 | €119,750 | €94,642 | €74,925 | ▼ 20.8% |
| Plant, machinery and equipment23 | - | - | €29,050 | €16,600 | €8,300 | ▼ 50.0% |
| Other tangible fixed assets26 | - | €23,000 | €90,700 | €78,042 | €66,625 | ▼ 14.6% |
| Current assets29/58 | €6,761 | €222,148 | €97,374 | €86,753 | €38,385 | ▼ 55.8% |
| Amounts receivable within one year40/41 | €5,815 | €19,672 | €78,973 | €23,602 | €30,996 | ▲ 31.3% |
| Trade receivables40 | €5,145 | €19,672 | €78,021 | €18,128 | €19,634 | ▲ 8.3% |
| Other amounts receivable41 | €670 | - | €952 | €5,474 | €11,361 | ▲ 108% |
| Cash at bank and in hand54/58 | €946 | €202,476 | €18,401 | €63,151 | €7,390 | ▼ 88.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6,761 | €245,148 | €217,124 | €181,395 | €113,310 | ▼ 37.5% |
| Equity10/15 | -€121,076 | €53,230 | €69,548 | €73,475 | €50,455 | ▼ 31.3% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Non-distributable reserves130/1 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | -€141,076 | €31,230 | €47,548 | €51,475 | €28,455 | ▼ 44.7% |
| Amounts payable17/49 | €127,836 | €191,919 | €147,576 | €107,920 | €62,855 | ▼ 41.8% |
| Amounts payable within one year42/48 | €127,836 | €191,919 | €147,576 | €107,920 | €62,855 | ▼ 41.8% |
| Trade debts44 | €5,377 | €27,568 | €17,980 | €6,817 | €9,501 | ▲ 39.4% |
| Suppliers440/4 | €5,377 | €27,568 | €17,980 | €6,817 | €9,501 | ▲ 39.4% |
| Taxes, remuneration and social security45 | - | €26,393 | €2,663 | - | - | - |
| Taxes450/3 | - | €26,393 | €2,663 | - | - | - |
| Other amounts payable47/48 | €122,459 | €137,959 | €126,934 | €101,104 | €53,354 | ▼ 47.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,746 | €174,305 | €16,318 | €3,927 | -€23,020 | ▼ 686% |
| + Depreciation and write-downs630 | - | €23,000 | €84,550 | €44,550 | €56,025 | ▲ 25.8% |
| Operating cash flow (approximation) | -€3,746 | €197,305 | €100,868 | €48,477 | €33,005 | ▼ 31.9% |
| Investment in fixed assets (approximation) | - | - | -€181,300 | -€19,442 | -€36,308 | ▼ 86.7% |
| Change in cash | - | €201,530 | -€184,075 | €44,750 | -€55,761 | ▼ 225% |
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
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €174,305
Net result €174,305 after 4 loss-making years.
31-12
Financial
Liquidity times 22current ratio 1.16
Current ratio from 0.05 to 1.16.
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€68,658
Net result drops to -€68,658, the lowest in the series; recovery starts the following year.
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 1 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Waregem · 1 establishment unit since 2017
Ground area
4,122 m²
Building footprint
2,853 m²
Volume, LiDAR
17,866 m³
Parcel 34010B0177/00G002, Flanders · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
IKARUSRACING
since 20172.269.598.179
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34010B0177/00G002 | Flanders | 4,122 m² | 1 · 2,853 m² | 9.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 3,220 companies in this sector we hold annual accounts for 740. 461 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company (pre-2019)
Founded17-10-2017
Fiscal year end31-12
Activities, NACEBEL 2025
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
E-invoicing
Reachable via Peppol
Peppol ID
0208:0682977691
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.