iLUMENATE
ActiveSummary
iLUMENATE has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €799,428 and a net result of -€95,653. Equity is shrinking by ~45.3% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 50% of 11508 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2023
Profitability24▲+22
Solvency67▲+63
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity short (current ratio 0.06 against 0.02 in 2023; short-term debt: 29.4% and cash: 0.2% of total assets), and 57.9% of the assets are financed with debt.
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Signals
Two 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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 28-01-2026, 3 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
3 d early
2023
43 d early
2022
27 d early
2021
10 d early
2020
24 d early
2019
28 d early
2018
57 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 27 days before the deadline; the sector median for financial year 2023 is 2 days before the deadline, and 40% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, micro schema
Equity
€799,428
2023 · -€21,919
Total assets
€1.9m▲ 1,751%
2023 · €102,551
Net result
-€95,653▼ 580%
2023 · -€14,059
Working capital
-€526,014▼ 330%
2023 · -€122,220
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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
Line20202021202220232025
Operating result-€7,014-€3,276▲ 53.3%-€7,802▼ 138%-€13,309▼ 70.6%-€51,411-
Net result-€7,173below the sector's middle half-€3,430below the sector's middle half▲ 52.2%-€7,925below the sector's middle half▼ 131%-€14,059below the sector's middle half▼ 77.4%-€95,653below the sector's middle half-
Equity€3,494below the sector's middle half▼ 67.2%€65below the sector's middle half▼ 98.1%-€7,860below the sector's middle half-€21,919below the sector's middle half▼ 179%€799,428above the sector's middle half-
Total assets€78,683within the sector's middle half▼ 9.4%€123,635within the sector's middle half▲ 57.1%€114,890within the sector's middle half▼ 7.1%€102,551within the sector's middle half▼ 10.7%€1.9mabove the sector's middle half-
Debt€75,189▼ 1.2%€123,571▲ 64.3%€122,751▼ 0.7%€124,470▲ 1.4%€1.1m-
Working capital-€16,195below the sector's middle half-€112,355below the sector's middle half▼ 594%-€121,141below the sector's middle half▼ 7.8%-€122,220below the sector's middle half▼ 0.9%-€526,014below the sector's middle half-
Solvency4.4%below the sector's middle half▼ 7.8pp0.1%below the sector's middle half▼ 4.4pp-6.8%below the sector's middle half▼ 6.9pp-21.4%below the sector's middle half▼ 14.5pp42.1%within the sector's middle half-
Current ratio0.78below the sector's middle half▼ 0.370.08below the sector's middle half▼ 0.700.01below the sector's middle half▼ 0.070.02below the sector's middle half=0.06below the sector's middle half-
Return on assets (ROA)-9.1%below the sector's middle half▼ 44.8pp-2.8%below the sector's middle half▲ 6.3pp-6.9%below the sector's middle half▼ 4.1pp-13.7%below the sector's middle half▼ 6.8pp-5.0%below the sector's middle half-
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result is -€51,411 in 2025, compared with -€13,309 in 2023. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €1.9m
Fixed assets
€1.9m ▲ 1,760%
Current assets
€32,928 ▲ 1,363%
Equity and liabilities €1.9m
Equity
€799,428
Debt
€1.1m
Debt finances 57.9% of the balance-sheet total.
Key figures and ratios
EBITDA
€60,522▲
2023 · -€329
Cash flow
€16,280▲
2023 · -€1,079
Debt to equity
1.38▲
2023 · -5.68
ROE
-12.0%
Interest coverage
1.36▲
2023 · -0.44
Debt ≤ 1 year
€558,942▲
2023 · €124,470
Debt > 1 year
€540,278
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,687 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
0.6%
went bankrupt
5.4%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,338 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% | 1.9% |
| 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 2,687 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 | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €273 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €273 | €0 | - | €12,980 | €111,933 | - |
| Other operating charges640/8 | - | €518 | €580 | €559 | €10,557 | - |
| Gross operating margin9900 | -€6,225 | -€2,759 | -€7,223 | €230 | €71,079 | - |
| Operating profit (loss)9901 | -€7,014 | -€3,276 | -€7,802 | -€13,309 | -€51,411 | - |
| Financial income75/76B | - | €0 | - | - | €131 | - |
| Recurring financial income75 | €294 | €0 | - | - | €131 | - |
| Financial charges65/66B | - | €154 | €123 | €750 | €44,373 | - |
| Recurring financial charges65 | €452 | €154 | €123 | €750 | €44,373 | - |
| Profit (loss) for the period before taxes9903 | -€7,173 | -€3,430 | -€7,925 | -€14,059 | -€95,653 | - |
| Income taxes67/77 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€7,173 | -€3,430 | -€7,925 | -€14,059 | -€95,653 | - |
| Profit (loss) for the period to be appropriated9905 | -€7,173 | -€3,430 | -€7,925 | -€14,059 | -€95,653 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €78,683 | €123,635 | €114,890 | €102,551 | €1.9m | - |
| Fixed assets21/28 | €20,440 | €113,280 | €113,280 | €100,300 | €1.9m | - |
| Intangible fixed assets21 | €20,440 | €113,280 | €113,280 | €100,300 | €77,613 | - |
| Tangible fixed assets22/27 | - | - | - | - | €1.8m | - |
| Land and buildings22 | - | - | - | - | €1.8m | - |
| Current assets29/58 | €58,244 | €10,355 | €1,610 | €2,250 | €32,928 | - |
| Stocks and contracts in progress3 | €15,000 | €7,500 | - | - | - | - |
| Contracts in progress37 | - | €7,500 | - | - | - | - |
| Amounts receivable within one year40/41 | €5,367 | €0 | €269 | €332 | - | - |
| Trade receivables40 | - | €0 | - | - | - | - |
| Other amounts receivable41 | - | €0 | €269 | €332 | - | - |
| Cash at bank and in hand54/58 | €37,632 | €2,628 | €1,113 | €1,609 | €4,426 | - |
| Deferred charges and accrued income490/1 | - | €227 | €228 | €309 | €28,502 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €78,683 | €123,635 | €114,890 | €102,551 | €1.9m | - |
| Equity10/15 | €3,494 | €65 | -€7,860 | -€21,919 | €799,428 | - |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €923,200 | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | - |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | - | - |
| Distributable reserves133 | - | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | -€4,566 | -€7,995 | -€15,920 | -€29,979 | -€125,632 | - |
| Amounts payable17/49 | €75,189 | €123,571 | €122,751 | €124,470 | €1.1m | - |
| Amounts payable after more than one year17 | - | - | - | - | €540,278 | - |
| Financial debts170/4 | - | - | - | - | €540,278 | - |
| Amounts payable within one year42/48 | €74,439 | €122,711 | €122,751 | €124,470 | €558,942 | - |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €43,333 | - |
| Trade debts44 | €4,339 | €529 | €641 | €1,601 | - | - |
| Suppliers440/4 | - | €529 | €641 | €1,601 | - | - |
| Taxes, remuneration and social security45 | - | €82 | €10 | - | €9,227 | - |
| Taxes450/3 | - | €82 | €10 | - | €9,227 | - |
| Other amounts payable47/48 | - | €122,100 | €122,100 | €122,869 | €506,382 | - |
| Accrued charges and deferred income492/3 | - | €860 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,173 | -€3,430 | -€7,925 | -€14,059 | -€95,653 | - |
| + Depreciation and write-downs630 | €273 | €0 | - | €12,980 | €111,933 | - |
| Operating cash flow (approximation) | -€6,900 | -€3,430 | -€7,925 | -€1,079 | €16,280 | - |
| Investment in fixed assets (approximation) | - | -€92,841 | €0 | €0 | - | - |
| Change in cash | - | -€35,004 | -€1,515 | €496 | - | - |
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
2026
28-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Weakest financial yearnet -€95,653
Net result drops to -€95,653, the lowest in the series.
30-06
Financial
Equity above €500,000Eq €799,428
Equity rises from -€21,919 to €799,428.
2024
18-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
03-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
20-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
06-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
02-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
04-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
14-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Brugge · 1 establishment unit since 2016
Ground area
6,593 m²
Building footprint
2,225 m²
Volume, LiDAR
1,448 m³
2 parcels, Flanders · tallest building 15.9 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
iLUMENATE
since 20162.253.741.649
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31807I0044/00D000 | Flanders | 3,584 m² | 1 · 1,930 m² | - |
| 31362A0182/00M000 | Flanders | 3,009 m² | 1 · 296 m² | 15.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
875500K93L38ZDT4QQ59
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Of 268 companies in sector 46474 we hold annual accounts for 181. 119 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
Founded02-05-2016
Fiscal year end30-06
Activities, NACEBEL 2025
46474Wholesale trade
27402Manufacture of electrical equipment
43211General electrical installation work
43240Other construction installation
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0653715365
Registered
25-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.