Integra Fund
ActiveSummary
Integra Fund has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €117.8m and a net result of -€10.2m. Equity is growing by ~24.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability17▼-18
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity short (current ratio 0.61 against 2.19 in 2024; short-term debt: 5.9% and cash: 3.5% of total assets), and 5.9% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
94.1%
Return on assets
-8.2%
Age of the figures
9 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
1819202122232425
2018 to 2025 · latest year -€10.2m
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 10-07-2026, 21 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
21 d early
2024
20 d early
2023
23 d early
2022
24 d early
2021
26 d early
2020
17 d early
2019
35 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 24 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 9 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€7,841
EBIT margin
-30292.4%
Net result
-€10.2m▼ 754%
2024 · -€1.2m
Working capital
-€2.8m
2024 · €1.3m
Trend over the years
In euros
In euros
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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€7,841
Operating result-€2.0m▼ 18.9%-€2.4m▼ 21.7%-€109,961▲ 95.4%-€2.4m▼ 2,086%-€2.5m▼ 5.9%
Net result-€1.7m▼ 23.0%-€1.5m▲ 12.8%€439,733-€1.2m-€10.2m▼ 754%
EBIT margin-30292.4%
Equity€72.5m▲ 40.1%€105.5m▲ 45.5%€127.3m▲ 20.8%€143.4m▲ 12.6%€117.8m▼ 17.8%
Total assets€75.1m▲ 39.7%€113.9m▲ 51.6%€127.4m▲ 11.9%€144.4m▲ 13.3%€125.2m▼ 13.3%
Debt€2.7m▲ 27.7%€8.5m▲ 219%€90,594▼ 98.9%€1.1m▲ 1,067%€7.4m▲ 598%
Working capital€385,746▼ 95.3%€2.9m▲ 659%€3.8m▲ 30.9%€1.3m▼ 67.2%-€2.8m
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2.5m in 2025 against €2.4m in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €125.2m
Fixed assets
€120.7m ▼ 15.1%
Current assets
€4.5m ▲ 96.0%
Equity and liabilities €125.2m
Equity
€117.8m ▼ 17.8%
Debt
€7.4m ▲ 598%
Debt's share of the balance-sheet total rises from 0.7% to 5.9%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
0.61▼
2024 · 2.19
Debt to equity
0.06▲
2024 · 0.01
ROE
-8.7%▼
2024 · -0.8%
ROA
-8.2%▼
2024 · -0.8%
Debt ≤ 1 year
€7.4m▲
2024 · €1.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €7,841 | €2.3m | - | - | - |
| Turnover70 | - | €7,841 | - | - | - | - |
| Non-recurring operating income76A | - | - | €2.3m | - | - | - |
| Operating charges60/66A | €2.0m | €2.4m | €2.4m | €2.4m | €2.5m | ▲ 5.9% |
| Services and other goods61 | €2.0m | €2.4m | €2.4m | €2.4m | €2.5m | ▲ 5.9% |
| Other operating charges640/8 | €988 | €990 | €1,492 | €1,515 | €1,703 | ▲ 12.4% |
| Operating profit (loss)9901 | -€2.0m | -€2.4m | -€109,961 | -€2.4m | -€2.5m | ▼ 5.9% |
| Financial income75/76B | €315,703 | €1.0m | €1.0m | €1.6m | €13.8m | ▲ 789% |
| Recurring financial income75 | €315,703 | €1.0m | €1.0m | €1.6m | €2.5m | ▲ 59.9% |
| Income from financial fixed assets750 | €315,703 | €1.0m | €1.0m | €1.5m | €2.5m | ▲ 60.3% |
| Income from current assets751 | - | - | €2,978 | €2,968 | €4,557 | ▲ 53.5% |
| Other financial income752/9 | €1 | €0 | - | €8,844 | €8,303 | ▼ 6.1% |
| Non-recurring financial income76B | - | - | - | - | €11.3m | - |
| Financial charges65/66B | €85,873 | €140,737 | €455,863 | €352,101 | €21.5m | ▲ 6,017% |
| Recurring financial charges65 | €85,873 | €140,737 | €455,863 | €352,101 | €183,990 | ▼ 47.7% |
| Debt charges650 | €83,266 | €132,713 | €427,957 | €297,898 | €167,421 | ▼ 43.8% |
| Other financial charges652/9 | €2,607 | €8,024 | €27,905 | €54,203 | €16,569 | ▼ 69.4% |
| Non-recurring financial charges66B | - | - | - | - | €21.4m | - |
| Profit (loss) for the period before taxes9903 | -€1.7m | -€1.5m | €439,733 | -€1.2m | -€10.2m | ▼ 754% |
| Profit (loss) for the period9904 | -€1.7m | -€1.5m | €439,733 | -€1.2m | -€10.2m | ▼ 754% |
| Profit (loss) for the period to be appropriated9905 | -€1.7m | -€1.5m | €439,733 | -€1.2m | -€10.2m | ▼ 754% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €75.1m | €113.9m | €127.4m | €144.4m | €125.2m | ▼ 13.3% |
| Fixed assets21/28 | €72.1m | €102.5m | €123.5m | €142.1m | €120.7m | ▼ 15.1% |
| Financial fixed assets28 | €72.1m | €102.5m | €123.5m | €142.1m | €120.7m | ▼ 15.1% |
| Affiliated companies280/1 | €26.3m | €32.3m | €37.0m | €37.2m | €16.6m | ▼ 55.4% |
| Participating interests280 | €18.7m | €22.2m | €22.2m | €30.6m | €13.7m | ▼ 55.1% |
| Amounts receivable281 | €7.6m | €10.1m | €14.8m | €6.6m | €2.9m | ▼ 56.6% |
| Companies linked by participating interests282/3 | €6.0m | €6.0m | €6.0m | €6.0m | €12.0m | ▲ 98.6% |
| Participating interests282 | €6.0m | €6.0m | €6.0m | €6.0m | €12.0m | ▲ 98.6% |
| Other financial fixed assets284/8 | €39.8m | €64.2m | €80.4m | €98.9m | €92.1m | ▼ 6.9% |
| Shares284 | €39.8m | €63.7m | €79.9m | €96.5m | €91.9m | ▼ 4.7% |
| Amounts receivable and cash guarantees285/8 | - | €508,950 | €542,636 | €2.5m | €219,528 | ▼ 91.1% |
| Current assets29/58 | €3.0m | €11.4m | €3.9m | €2.3m | €4.5m | ▲ 96.0% |
| Amounts receivable within one year40/41 | €1.6m | €578,281 | €1.1m | €818,192 | €142,390 | ▼ 82.6% |
| Trade receivables40 | €336 | €85,821 | €1,709 | - | - | - |
| Other amounts receivable41 | €1.6m | €492,460 | €1.1m | €818,192 | €142,390 | ▼ 82.6% |
| Current investments50/53 | - | - | €1.4m | - | - | - |
| Other investments51/53 | - | - | €1.4m | - | - | - |
| Cash at bank and in hand54/58 | €1.4m | €10.8m | €1.4m | €1.5m | €4.4m | ▲ 194% |
| Deferred charges and accrued income490/1 | €14,299 | €14,518 | €1,169 | €3,780 | €2,104 | ▼ 44.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €75.1m | €113.9m | €127.4m | €144.4m | €125.2m | ▼ 13.3% |
| Equity10/15 | €72.5m | €105.5m | €127.3m | €143.4m | €117.8m | ▼ 17.8% |
| Contributions10/11 | €76.6m | €111.1m | €132.5m | €149.8m | €134.5m | ▼ 10.2% |
| Profit (loss) carried forward14 | -€4.1m | -€5.6m | -€5.2m | -€6.4m | -€16.6m | ▼ 160% |
| Amounts payable17/49 | €2.7m | €8.5m | €90,594 | €1.1m | €7.4m | ▲ 598% |
| Amounts payable within one year42/48 | €2.6m | €8.4m | €89,440 | €1.1m | €7.4m | ▲ 598% |
| Financial debts43 | €2.6m | €8.3m | - | €1.0m | €7.2m | ▲ 623% |
| Credit institutions430/8 | €2.6m | €8.3m | - | €1.0m | €7.2m | ▲ 623% |
| Trade debts44 | €45,299 | €162,302 | €87,731 | €56,352 | €112,204 | ▲ 99.1% |
| Suppliers440/4 | €45,299 | €162,302 | €87,731 | €56,352 | €112,204 | ▲ 99.1% |
| Other amounts payable47/48 | - | - | €1,709 | - | €35,294 | - |
| Accrued charges and deferred income492/3 | €4,776 | €16,800 | €1,154 | €903 | €6,699 | ▲ 642% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1.7m | -€1.5m | €439,733 | -€1.2m | -€10.2m | ▼ 754% |
| Operating cash flow (approximation) | -€1.7m | -€1.5m | €439,733 | -€1.2m | -€10.2m | ▼ 754% |
| Investment in fixed assets (approximation) | - | -€30.4m | -€21.0m | -€18.6m | €21.5m | ▲ 215% |
| Change in cash | - | €9.4m | -€9.3m | €48,934 | €2.9m | ▲ 5,821% |
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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet -€10.2m
Net result drops to -€10.2m, the lowest in the series.
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €439,733
Net result €439,733 after 5 loss-making years.
31-12
Financial
Liquidity times 33current ratio 43.82
Current ratio from 1.35 to 43.82; short-term debt falls from €8.4m to €89,440.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €100mEq €105.5m ▲45.5%
Equity rises from €72.5m to €105.5m.
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Liquidity times 8current ratio 4.98
Current ratio from 0.61 to 4.98; short-term debt falls from €3.4m to €2.1m.
31-12
Financial
Equity above €50mEq €51.7m ▲120%
Equity rises from €23.6m to €51.7m.
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 16 acts read
About the unread acts
We know of 16 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
16 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 · 1 establishment unit since 2018
Ground area
4,491 m²
Building footprint
526 m²
Volume, LiDAR
6,450 m³
Parcel 44082A0019/00Z000, Flanders · tallest building 19.9 m, ±4 floors. Linked by address, not a title deed.
23
companies at this address
See who is registered here
1 establishment unit
Integra Fund
since 20182.281.911.736
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44082A0019/00Z000 | Flanders | 4,491 m² | 1 · 526 m² | 19.9 m · 4 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
3 owners · 5 holdings · 7 subsidiaries in the treeChain of control
- INTEGRA FUND PRIVAK
- Integra Fund
Highest known parent: INTEGRA FUND PRIVAK. The sources do not say who stands above it.
Owners 3
- INTEGRA FUND PRIVAKparent99.84%
- Sourceaccounts Kazmuzi 20250.29%
-
0.16%
Holdings 5
-
100%
-
70.84%
- VINDEVOGEL FLANDERSsubsidiaryEquity €3.0mResult €613,64370%
-
40%
-
25%
All subsidiaries, including indirect ones 7
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
ZEPA 100%2 subsidiaries
SACK ZELFBOUW 100%1 subsidiary
- SACK INVEST 100%
- Maatschap Maes Integra 70.84%
VINDEVOGEL FLANDERS 70%2 subsidiaries
- Vindevogel Containers 100%
- VINDEVOGEL INVEST 100%
According to the 2025 annual accounts of Integra Fund 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.
Identification & contact
Identification
Legal formLimited partnership
Founded24-10-2018
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0712606441
Also
9925:BE0712606441
Registered
31-10-2023
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.