Active BE 0770.999.352Private limited company

Ilbarritz-Espée

Jennevalstraat 57 ·1000 Brussel, Belgium· 5 yrs active

Conclusion Checked

The computed 12-month bankruptcy probability of Ilbarritz-Espée is 4.1% (elevated). The 2025 annual accounts show equity of €14.12M and a net result of €-206k. Equity is growing by ~7.7% per year across the filed fiscal years. The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.

Key figures

Equity	€14.12M
Net result	€-206k
Active	5 yrs
Publications	2

Financial profile 5 of 5 axes measured · computed by Checked

67 / 100

Strong profile, led by solvency.

All 5 axes are computed from data Checked has read.

Health 65

Profitability 0

Solvency 99

Growth 78

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

4.1% Elevated

0%0,5%1,5%4%10%≥25%

Young company +No NACE activity registered +Higher-failure-rate region +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Health barometer FY 2025 · computed

65 / 100 Healthy

050100

Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview3 NBB filings

Annual accounts filed on 03-02-2026 with the NBB · fiscal year 2025 · volledig

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~7.7%/year over 3 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Net profit

€-206k

- 23-25

Total assets

€22.56M

+10.4% 23-25

Equity

€14.12M

+14.6% 23-25

Working capital

€3.81M

+126.5% 23-25

Employees (FTE)

0

- 23-25

Debt

€8.43M

+4.1% 23-25

Debt ≤ 1y

€1k

- 23-25

Debt > 1y

€8.43M

+4.1% 23-25

Show 6 other metrics

Current ratio

2789.61

+912.4% 23-25

Quick ratio

2789.61

+912.4% 23-25

Solvency

62.6%

+3.8% 23-25

Debt / equity

0.60

-9.1% 23-25

ROE

-1.5%

- 23-25

ROA

-0.9%

- 23-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	volledig
Revenue	-
EBITDA	-
Net profit	€-206k
Cash flow	-
Staff costs	-
Income taxes	-
Dividends	-
Total assets	€22.56M
Equity	€14.12M
Debt	€8.43M
of which ≤ 1y	€1k
of which > 1y	€8.43M
Working capital	€3.81M
Employees (FTE)	0.0

Ratios (computed)

	2025
Current ratio	2789.61
Quick ratio	2789.61
Working capital ratio	16.9%
Solvency	62.6%
Debt / equity	0.60
Long-term debt ratio	0.60
Interest coverage	-
Gross margin	-
Net margin	-
ROA	-0.9%
ROE	-1.5%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €18.75M · 83.1% Current assets €3.81M · 16.9%

Equity & liabilities

Equity €14.12M · 62.6% Debt €8.43M · 37.4%

Full annual accounts (21 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€22.56M
Fixed assets	21/28	€18.75M
Financial fixed assets	28	€18.75M
Current assets	29/58	€3.81M
Amounts receivable within one year	40/41	€3.32M
Cash & bank	54/58	€487k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€22.56M
Equity	10/15	€14.12M
Contributions / capital	10/11	€15.01M
Accumulated profits (losses)	14	€-882k
Amounts payable	17/49	€8.43M
Amounts payable after one year	17	€8.43M
Amounts payable within one year	42/48	€1k
Trade debts payable within one year	44	€1k
Income statement
Gross operating margin	9900	€-28k
Operating result	9901	€-28k
Financial income	75	€153k
Financial charges	65	€331k
Result before taxes	9903	€-206k
Net result for the period	9904	€-206k
Result to be appropriated	9905	€-206k

This table shows the latest fiscal year. 2 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Legal Structure

NACE primary	-
Legal form	Private limited company(610)
Incorporation	12-07-2021
Status	Active
Postal code	1000

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21806F0058/00H006	Brussels	94 m²	1 · 94 m²	19.0 m · 5 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 5 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026

03-02-2026

NBB filing Annual accounts filed

fiscal year 2025 · volledig

2025

05-02-2025

NBB filing Annual accounts filed

fiscal year 2024 · verkort

2024

19-09-2024

State Gazette act Capital & shares

Thomas Cleymans

01-02-2024

NBB filing Annual accounts filed

fiscal year 2023 · volledig

2023

14-07-2023

State Gazette act Capital & shares

Anne Verhaeghe

Belgian State Gazette reading coverage 0 of 4 acts read

We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 2 acts

Capital history · 2

19-09-2024

Capital change

14-07-2023

Capital change

All acts · 2 updated 1 year ago

2024

19-09-2024 Capital increase of €2,000,000 to €15,005,000 Capital & shares·Thomas Cleymans

€13.005.000 → €15.005.000
Inbreng in geld · Apport en numéraire
2 kapitaalbewegingen in deze akte

Notary: Thomas Cleymans · Meise

Original publication ↗

Technical details

{
  "events": [
    {
      "kind": "capital_increase",
      "after_eur": 15005000.0,
      "delta_eur": 2000000.0,
      "before_eur": 13005000.0,
      "subscribers": [
        {
          "kbo": "0759.994.604",
          "rrn": null,
          "kind": "org",
          "name": "Tesveil",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": null,
          "n_shares_subscribed": 5185,
          "contribution_amount_eur": null
        }
      ],
      "share_emission": {
        "agio_eur": null,
        "share_form": "no_nominal_value",
        "share_class": null,
        "n_new_shares": 5185,
        "with_new_shares": true,
        "nominal_value_eur": null,
        "issue_price_per_share_eur": null
      },
      "decrease_purpose": null,
      "contribution_type": "geld",
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    },
    {
      "kind": "capital_increase",
      "after_eur": 15005000.0,
      "delta_eur": 0.0,
      "before_eur": 15005000.0,
      "share_emission": {
        "agio_eur": null,
        "share_form": "no_nominal_value",
        "share_class": null,
        "n_new_shares": 75185,
        "with_new_shares": true,
        "nominal_value_eur": null,
        "issue_price_per_share_eur": null
      },
      "decrease_purpose": null,
      "contribution_type": "geld",
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    }
  ],
  "notary": {
    "name": "Thomas Cleymans",
    "firm_city": null,
    "firm_name": null,
    "office_city": "Meise",
    "is_associated": false
  },
  "act_meta": {
    "language": "fr",
    "pub_date": "2024-09-19",
    "filing_date": "2024-09-17",
    "act_kind_objet": "Objet de l\u0027acte:"
  },
  "decision": {
    "body": "buitengewone_algemene_vergadering",
    "act_date": "2024-07-09",
    "unanimous": null,
    "under_authorized_capital": true,
    "underlying_resolution_date": "2024-07-09"
  },
  "bedrijfsrevisor": {
    "waived": true,
    "firm_kbo": null,
    "firm_name": null,
    "ibr_number": null,
    "mission_type": null,
    "individual_name": null
  },
  "subject_company": {
    "kbo": "0770.999.352",
    "name_full": "Ilbarritz-Esp\u00E9e",
    "legal_form": "Soci\u00E9t\u00E9 \u00E0 responsabilit\u00E9 limit\u00E9e",
    "is_foreign_registered": false
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [
    "expedition du proc\u00E8s-verbal du 09/07/2024",
    "la liste des actes de la soci\u00E9t\u00E9 et les statuts coordonn\u00E9s"
  ],
  "shareholders_after": [
    {
      "kbo": "0759.994.604",
      "pct": null,
      "kind": "org",
      "name": "Tesveil",
      "role": null,
      "n_shares": 5185,
      "share_class": null
    }
  ],
  "share_classes_after": []
}

2023

14-07-2023 Capital increase of €13,000,000 to €13,005,000 Capital & shares·Anne Verhaeghe

€5.000 → €13.005.000

Notary: Anne Verhaeghe · Meise

Original publication ↗

Technical details

{
  "events": [
    {
      "kind": "capital_increase",
      "after_eur": 13005000.0,
      "delta_eur": 13000000.0,
      "before_eur": 5000.0,
      "share_emission": {
        "agio_eur": null,
        "share_form": "no_nominal_value",
        "share_class": null,
        "n_new_shares": 65000,
        "with_new_shares": true,
        "nominal_value_eur": null,
        "issue_price_per_share_eur": null
      },
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    },
    {
      "kind": "share_class_creation",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "subscribers": [
        {
          "kbo": null,
          "rrn": null,
          "kind": "org",
          "name": "BLHM SA",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": "geld",
          "n_shares_subscribed": 45000,
          "contribution_amount_eur": 9000000.0
        },
        {
          "kbo": "0668.490.049",
          "rrn": null,
          "kind": "org",
          "name": "SRL Chagral",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": "schuldvordering",
          "n_shares_subscribed": 10000,
          "contribution_amount_eur": 2000000.0
        },
        {
          "kbo": "0759.994.604",
          "rrn": null,
          "kind": "org",
          "name": "Tesveil",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": "schuldvordering",
          "n_shares_subscribed": 10000,
          "contribution_amount_eur": 2000000.0
        }
      ],
      "share_emission": {
        "agio_eur": null,
        "share_form": "no_nominal_value",
        "share_class": null,
        "n_new_shares": 50000,
        "with_new_shares": true,
        "nominal_value_eur": null,
        "issue_price_per_share_eur": null
      },
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    },
    {
      "kind": "share_class_creation",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "subscribers": [
        {
          "kbo": null,
          "rrn": null,
          "kind": "org",
          "name": "BLHM SA",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": "geld",
          "n_shares_subscribed": 45000,
          "contribution_amount_eur": 9000000.0
        },
        {
          "kbo": "0668.490.049",
          "rrn": null,
          "kind": "org",
          "name": "SRL Chagral",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": "schuldvordering",
          "n_shares_subscribed": 10000,
          "contribution_amount_eur": 2000000.0
        },
        {
          "kbo": "0759.994.604",
          "rrn": null,
          "kind": "org",
          "name": "Tesveil",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": "schuldvordering",
          "n_shares_subscribed": 10000,
          "contribution_amount_eur": 2000000.0
        }
      ],
      "share_emission": {
        "agio_eur": null,
        "share_form": "no_nominal_value",
        "share_class": null,
        "n_new_shares": 50000,
        "with_new_shares": true,
        "nominal_value_eur": null,
        "issue_price_per_share_eur": null
      },
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    }
  ],
  "notary": {
    "name": "Anne Verhaeghe",
    "firm_city": null,
    "firm_name": null,
    "office_city": "Meise",
    "is_associated": false
  },
  "act_meta": {
    "language": "fr",
    "pub_date": "2023-07-14",
    "filing_date": "2023-07-12",
    "act_kind_objet": "Objet de l\u0027acte:"
  },
  "decision": {
    "body": "buitengewone_algemene_vergadering",
    "act_date": "2023-06-28",
    "unanimous": null,
    "under_authorized_capital": true,
    "underlying_resolution_date": "2023-06-28"
  },
  "bedrijfsrevisor": {
    "waived": false,
    "firm_kbo": "0453.925.059",
    "firm_name": "Moore Audit SRL",
    "ibr_number": null,
    "mission_type": "apport_nature",
    "individual_name": "Ellen Tindemans"
  },
  "subject_company": {
    "kbo": "0770.999.352",
    "name_full": "Ilbarritz-Esp\u00E9e",
    "legal_form": "Soci\u00E9t\u00E9 \u00E0 responsabilit\u00E9 limit\u00E9e",
    "is_foreign_registered": false
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [
    "expedition du proc\u00E8s-verbal du 28/06/2023",
    "la liste des actes de la soci\u00E9t\u00E9 et les statuts coordonn\u00E9s"
  ],
  "shareholders_after": [],
  "share_classes_after": []
}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Names & trade names

Legal nameFR

Ilbarritz-Espée

Registered office

Jennevalstraat 57

1000 Brussel, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.