INNOVATION
ActiveSummary
INNOVATION has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €308,282 and a net result of -€20,305. Equity is growing by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 59% of 11472 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability64=
Solvency78▲+3
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21,000 at 30 days acceptable
Liquidity short (current ratio 0.41 against 1.57 in 2024; short-term debt: 30.4% and cash: 11.2% of total assets), and 46.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 →
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
53.2%
Return on assets
-3.5%
Age of the figures
15 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€20,305
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 26-01-2026, 5 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
5 d early
2024
24 d early
2023
12 d early
2022
27 d early
2021
19 d early
2020
17 d early
2019
3 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 15 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€308,282▼ 6.2%
2024 · €328,587
Total assets
€579,993▼ 11.5%
2024 · €655,349
Net result
-€20,305▲ 16.7%
2024 · -€24,376
Working capital
-€104,482
2024 · €27,014
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
Line20212022202320242025
Operating result€40,522▲ 93.8%€44,346▲ 9.4%€12,276▼ 72.3%-€21,835-€18,145▲ 16.9%
Net result€27,442€27,294within the sector's middle half▼ 0.5%€54,201within the sector's middle half▲ 98.6%-€24,376below the sector's middle half-€20,305below the sector's middle half▲ 16.7%
Equity€271,468▲ 11.2%€298,762within the sector's middle half▲ 10.1%€352,963within the sector's middle half▲ 18.1%€328,587within the sector's middle half▼ 6.9%€308,282above the sector's middle half▼ 6.2%
Total assets€690,917=€756,876within the sector's middle half▲ 9.5%€757,365within the sector's middle half▲ 0.1%€655,349within the sector's middle half▼ 13.5%€579,993above the sector's middle half▼ 11.5%
Debt€446,891=€458,114▲ 2.5%€404,402▼ 11.7%€326,762▼ 19.2%€271,711▼ 16.8%
Working capital-€121,322=€28,194€42,633▲ 51.2%€27,014▼ 36.6%-€104,482
Solvency39.3%▲ 4.0pp39.5%within the sector's middle half▲ 0.2pp46.6%within the sector's middle half▲ 7.1pp50.1%within the sector's middle half▲ 3.5pp53.2%within the sector's middle half▲ 3.0pp
Staff (FTE)0
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 abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €18,145 in 2025 against €21,835 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €579,993
Fixed assets
€508,361 ▼ 12.5%
Current assets
€71,632 ▼ 4.0%
Equity and liabilities €579,993
Equity
€308,282 ▼ 6.2%
Debt
€271,711 ▼ 16.8%
Debt's share of the balance-sheet total falls from 49.9% to 46.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€29,594▼
2024 · €33,899
Cash flow
€27,434▼
2024 · €31,358
Current ratio
0.41▼
2024 · 1.57
Debt to equity
0.88▼
2024 · 0.99
ROE
-6.6%▲
2024 · -7.4%
ROA
-3.5%▲
2024 · -3.7%
Interest coverage
11.82▼
2024 · 12.12
Debt ≤ 1 year
€176,114▲
2024 · €47,598
Debt > 1 year
€95,597▼
2024 · €279,163
Income taxes
€223▲
2024 · -€57
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,685 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
0.5%
went bankrupt
5.5%
stopped otherwise
94%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 2,685 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €44,950 | €6,000 | - | €3,863 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,805 | €30,964 | €38,263 | €55,734 | €47,739 | ▼ 14.3% |
| Other operating charges640/8 | - | €4,232 | €5,169 | €2,610 | €4,882 | ▲ 87.0% |
| Non-recurring operating charges66A | - | €655 | €11,418 | - | - | - |
| Gross operating margin9900 | €81,421 | €80,198 | €67,127 | €36,509 | €34,476 | ▼ 5.6% |
| Operating profit (loss)9901 | €40,522 | €44,346 | €12,276 | -€21,835 | -€18,145 | ▲ 16.9% |
| Financial income75/76B | - | €6,620 | €60,740 | €200 | €567 | ▲ 184% |
| Recurring financial income75 | €8,289 | €6,620 | €60,740 | €200 | €567 | ▲ 184% |
| Non-recurring financial income76B | - | - | €60,740 | - | - | - |
| Financial charges65/66B | - | €9,202 | €9,541 | €2,797 | €2,504 | ▼ 10.5% |
| Recurring financial charges65 | €10,707 | €9,202 | €9,541 | €2,797 | €2,504 | ▼ 10.5% |
| Profit (loss) for the period before taxes9903 | €38,104 | €41,764 | €63,476 | -€24,433 | -€20,082 | ▲ 17.8% |
| Income taxes67/77 | €10,662 | €14,470 | €9,274 | -€57 | €223 | ▲ 493% |
| Profit (loss) for the period9904 | €27,442 | €27,294 | €54,201 | -€24,376 | -€20,305 | ▲ 16.7% |
| Transfer from tax-exempt reserves789 | - | €7,639 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €27,442 | €34,933 | €54,201 | -€24,376 | -€20,305 | ▲ 16.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €690,917 | €756,876 | €757,365 | €655,349 | €579,993 | ▼ 11.5% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €660,187 | €637,072 | €636,470 | €580,736 | €508,361 | ▼ 12.5% |
| Intangible fixed assets21 | €96,242 | €75,984 | €65,854 | €55,725 | €45,596 | ▼ 18.2% |
| Tangible fixed assets22/27 | €533,685 | €524,579 | €570,616 | €525,011 | €462,765 | ▼ 11.9% |
| Land and buildings22 | - | €452,196 | €439,947 | €423,700 | €407,453 | ▼ 3.8% |
| Plant, machinery and equipment23 | - | €3,043 | €1,453 | €177 | - | - |
| Furniture and vehicles24 | - | €69,339 | €129,216 | €101,135 | €55,313 | ▼ 45.3% |
| Financial fixed assets28 | €36,510 | €36,510 | - | - | - | - |
| Current assets29/58 | €30,731 | €119,804 | €120,895 | €74,612 | €71,632 | ▼ 4.0% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €4,500 | €6,500 | €24,000 | €2,624 | €3,630 | ▲ 38.3% |
| Trade receivables40 | - | - | - | - | €3,630 | - |
| Other amounts receivable41 | - | €6,500 | €24,000 | €2,624 | - | - |
| Current investments50/53 | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €29,050 | €112,320 | €94,838 | €68,736 | €64,902 | ▼ 5.6% |
| Deferred charges and accrued income490/1 | - | €985 | €2,057 | €3,252 | €3,100 | ▼ 4.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €690,917 | €756,876 | €757,365 | €655,349 | €579,993 | ▼ 11.5% |
| Equity10/15 | €271,468 | €298,762 | €352,963 | €328,587 | €308,282 | ▼ 6.2% |
| Contributions10/11 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €74,639 | €101,900 | €155,900 | €145,900 | €145,900 | = |
| Distributable reserves133 | - | €101,900 | €155,900 | €145,900 | €145,900 | = |
| Profit (loss) carried forward14 | €96,829 | €96,862 | €97,063 | €82,687 | €62,382 | ▼ 24.6% |
| Amounts payable17/49 | €446,891 | €458,114 | €404,402 | €326,762 | €271,711 | ▼ 16.8% |
| Amounts payable after more than one year17 | €303,182 | €360,399 | €320,035 | €279,163 | €95,597 | ▼ 65.8% |
| Financial debts170/4 | - | €208,639 | €168,275 | €127,403 | €93,837 | ▼ 26.3% |
| Other amounts payable178/9 | - | €151,760 | €151,760 | €151,760 | €1,760 | ▼ 98.8% |
| Amounts payable within one year42/48 | €152,053 | €91,610 | €78,263 | €47,598 | €176,114 | ▲ 270% |
| Current portion of amounts payable after more than one year42 | - | €39,864 | €40,364 | €40,871 | €33,566 | ▼ 17.9% |
| Trade debts44 | €4,788 | €2,998 | €8,351 | €1,016 | €1,167 | ▲ 14.9% |
| Suppliers440/4 | - | €2,998 | €8,351 | €1,016 | €1,167 | ▲ 14.9% |
| Taxes, remuneration and social security45 | - | €6,929 | €14,613 | €160 | €3,872 | ▲ 2,314% |
| Taxes450/3 | - | €6,929 | €11,408 | €160 | €1,999 | ▲ 1,146% |
| Remuneration and social security454/9 | - | - | €3,205 | - | €1,873 | - |
| Other amounts payable47/48 | - | €41,820 | €14,934 | €5,551 | €137,509 | ▲ 2,377% |
| Accrued charges and deferred income492/3 | - | €6,105 | €6,105 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,442 | €27,294 | €54,201 | -€24,376 | -€20,305 | ▲ 16.7% |
| + Depreciation and write-downs630 | €35,805 | €30,964 | €38,263 | €55,734 | €47,739 | ▼ 14.3% |
| Operating cash flow (approximation) | €63,247 | €58,258 | €92,464 | €31,358 | €27,434 | ▼ 12.5% |
| Investment in fixed assets (approximation) | - | -€7,850 | -€37,661 | €0 | €24,637 | - |
| Change in cash | - | €83,270 | -€17,482 | -€26,102 | -€3,834 | ▲ 85.3% |
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
26-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
07-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-06
Financial
Weakest financial yearnet -€24,376
Net result drops to -€24,376, the lowest in the series; recovery starts the following year.
19-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
Financial
Highest result since 2019net €54,201 ▲98.6%
Net result €54,201, the highest in the series.
04-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
Financial
Liquidity times 6current ratio 1.31
Current ratio from 0.20 to 1.31; short-term debt falls from €152,053 to €91,610.
12-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Back to profitnet €27,442
Net result €27,442 after 2 loss-making years.
14-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
28-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
21-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
15-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
13-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Sint-Niklaas · 1 establishment unit since 2007
Ground area
704 m²
Building footprint
166 m²
Volume, LiDAR
1,328 m³
Parcel 46021A0668/00E003, Flanders · tallest building 14.3 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
INNOVATION
since 20072.159.883.360
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46021A0668/00E003 | Flanders | 704 m² | 1 · 165 m² | 14.2 m · 3 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.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 30-06-2022 list no shareholders, and no other source names one.
Holdings 2
-
25%
-
15.05%
According to the annual accounts to 30-06-2022 of INNOVATION and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 4,414 companies in sector 46180 we hold annual accounts for 1,887. 1,298 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
Founded23-01-2007
Fiscal year end30-06
Activities, NACEBEL 2025
46180Agents specialised in the wholesale of other particular products
68310Real estate agency activities
73110Advertising agencies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0886657697
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.