IONICS
ActiveIONICS has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.75M and a net result of €-1.45M. Equity is shrinking by ~17.3% per year across the filed fiscal years. Its solvency ranks better than 36% of 670 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
38
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency61▼-23
Growth40▲+4
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65k at 30 days only on tighter terms
Liquidity short (current ratio 0.85 against 1.76 in 2024; short-term debt: 56.4% and cash: 2.7% of total assets), and 64.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+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 25
Relative position
BE, all sectors
reference
Sector 25
higher
← fewer bankruptcies
more bankruptcies →
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 · 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 €-1.45M
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
59 d early
2023
23 d early
2022
26 d early
2021
11 d early
2020
59 d early
2019
28 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€4.24M▲ 26.5%
2024 · €3.35M
2018: €2.79M
2019: €2.68M
2020: €2.89M
2021: €3.16M
2022: €2.72M
2023: €3.95M
2024: €3.35M
2018 → 2025
EBIT margin
-40.1%▲ 23.5pp
2024 · -63.6%
2018: -33.2%
2019: -68.1%
2020: -69.2%
2021: -71.2%
2022: -82.7%
2023: -3.5%
2024: -63.6%
2018 → 2025
Net result
€-1.45M▼ 14.5%
2024 · €-1.26M
2018: €-509k
2019: €-1.10M
2020: €-1.09M
2021: €-3.62M
2022: €-1.47M
2023: €950k
2024: €-1.26M
2018 → 2025
Working capital
€-423k
2024 · €1.40M
2018: €6.41M
2019: €2.86M
2020: €1.35M
2021: €638k
2022: €488k
2023: €2.75M
2024: €1.40M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€3.16M-€2.72M▼ 13.9%€3.95M▲ 45.0%€3.35M▼ 15.0%€4.24M▲ 26.5%
Equity€6.69M-€3.75M▼ 43.9%€6.23M▲ 66.3%€4.05M▼ 35.0%€1.75M▼ 56.8%
Operating result€-2.25M-€-2.25M=€-138k▲ 93.9%€-2.13M▼ 1,450%€-1.70M▲ 20.3%
Net result€-3.62M-€-1.47M▲ 59.3%€950k€-1.26M€-1.45M▼ 14.5%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1.70M in 2025 against €2.13M in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.93M
Fixed assets
€2.57M▼ 28.6%
Current assets
€2.36M▼ 27.2%
Equity and liabilities €4.93M
Equity
€1.75M▼ 56.8%
Debt
€3.18M▲ 13.8%
The debt ratio rises from 40.8% to 64.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-600k▼
2024 · €-532k
Cash flow
€-346k▼
2024 · €337k
Solvency
35.5%▼
2024 · 59.2%
Current ratio
0.85▼
2024 · 1.76
Quick ratio
0.74▼
2024 · 1.65
Debt / equity
1.82▲
2024 · 0.69
ROE
-82.6%▼
2024 · -31.2%
ROA
-29.3%▼
2024 · -18.5%
Interest coverage
-13.97▲
2024 · -14.19
Debt
€3.18M▲
2024 · €2.79M
Debt ≤ 1 year
€2.78M▲
2024 · €1.83M
Debt > 1 year
€393k▼
2024 · €567k
Income taxes
€1k▲
2024 · €-13k
Staff costs
€1.21M▼
2024 · €1.30M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€6.84M€4.93M▼
Formation expenses20€7k€731▼
Fixed assets21/28€3.60M€2.57M▼
Intangible fixed assets21€2.14M€1.40M▼
Tangible fixed assets22/27€810k€739k▼
Land and buildings22€396k€363k▼
Plant, machinery and equipment23€338k€328k▼
Furniture and vehicles24€2k€2k▲
Leasing and similar rights25€73k€45k▼
Financial fixed assets28€653k€428k▼
Affiliated companies280/1€650k€350k▼
Participating interests280€650k€350k▼
Companies linked by participating interests282/3€1€75k▲
Participating interests282€1€1=
Amounts receivable283-€75k
Other financial fixed assets284/8€3k€3k▲
Amounts receivable and cash guarantees285/8€3k€3k▲
Current assets29/58€3.24M€2.36M▼
Amounts receivable after more than one year29€256k€0▼
Other amounts receivable291€256k€0▼
Stocks and contracts in progress3€214k€305k▲
Stocks30/36€214k€305k▲
Raw materials and consumables30/31€214k€305k▲
Amounts receivable within one year40/41€1.86M€1.90M▲
Trade receivables40€1.02M€1.47M▲
Other amounts receivable41€841k€431k▼
Cash at bank and in hand54/58€841k€131k▼
Deferred charges and accrued income490/1€62k€23k▼
Equity and liabilities
Total equity and liabilities10/49€6.84M€4.93M▼
Equity10/15€4.05M€1.75M▼
Contributions10/11€11.00M€11.00M=
Capital10€4.88M€4.88M=
Issued capital100€4.88M€4.88M=
Outside capital11€6.12M€6.12M=
Share premium1100/10€6.12M€6.12M=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Profit (loss) carried forward14€-8.66M€-10.10M▼
Investment grants15€1.71M€851k▼
Provisions and deferred taxes16€0-
Provisions for liabilities and charges160/5€0-
Other liabilities and charges164/5€0-
Amounts payable17/49€2.79M€3.18M▲
Amounts payable after more than one year17€567k€393k▼
Financial debts170/4€567k€393k▼
Leasing and similar obligations172€42k€18k▼
Other loans174€525k€375k▼
Amounts payable within one year42/48€1.83M€2.78M▲
Current portion of amounts payable after more than one year42€717k€753k▲
Financial debts43-€360k
Credit institutions430/8-€360k
Trade debts44€806k€952k▲
Suppliers440/4€806k€952k▲
Advances received on contracts in progress46-€363k
Taxes, remuneration and social security45€202k€243k▲
Taxes450/3€24k€71k▲
Remuneration and social security454/9€178k€173k▼
Other amounts payable47/48€108k€108k=
Accrued charges and deferred income492/3€390k€4k▼
Income statement
Code20242025
Operating income70/76A€3.94M€4.62M▲
Turnover70€3.35M€4.24M▲
Change in stocks of work in progress, finished goods and contracts in progress71€0-
Own construction capitalised72€354k€214k▼
Other operating income74€237k€165k▼
Non-recurring operating income76A€0-
Operating charges60/66A€6.08M€6.32M▲
Goods for resale, raw materials and consumables60€1.81M€2.55M▲
Purchases600/8€1.86M€2.64M▲
Change in stocks: decrease (increase)609€-48k€-91k▼
Services and other goods61€1.37M€1.42M▲
Remuneration, social security and pensions62€1.30M€1.21M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.60M€1.10M▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€-34k€0▲
Other operating charges640/8€32k€36k▲
Non-recurring operating charges66A€0-
Operating profit (loss)9901€-2.13M€-1.70M▲
Financial income75/76B€916k€673k▼
Recurring financial income75€916k€598k▼
Other financial income752/9€916k€598k▼
Non-recurring financial income76B-€75k
Financial charges65/66B€60k€418k▲
Recurring financial charges65€60k€118k▲
Debt charges650€37k€43k▲
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651-€48k
Other financial charges652/9€23k€28k▲
Non-recurring financial charges66B-€300k
Profit (loss) for the period before taxes9903€-1.28M€-1.44M▼
Income taxes67/77€-13k€1k▲
Taxes670/3€1k€1k▼
Tax adjustments and reversals of tax provisions77€14k€0▼
Profit (loss) for the period9904€-1.26M€-1.45M▼
Profit (loss) for the period to be appropriated9905€-1.26M€-1.45M▼
Appropriation of the result
Profit (loss) to be appropriated9906€-8.66M€-10.10M▼
Profit (loss) brought forward from the previous period14P€-7.39M€-8.66M▼
Social balance
Average headcount (FTE)908716.214.4▼
The notes to these accounts (103 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
02-06
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 €950k
Net result €950k after 5 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 3.01
Current ratio from 1.28 to 3.01; short-term debt falls from €1.75M to €1.37M.
31-12
Financial
Equity above €5MEq €6.23M ▲66.3%
Equity rises from €3.75M to €6.23M.
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet €-3.62M
Net result drops to €-3.62M, the lowest in the series; recovery starts the following year.
02-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
15-09-2025
INVEST FOR JOBS: Resigned as Director
27-06-2024
Christophe Picard: Resigned as Director
27-06-2024
Michael Herbatschek: Resigned as Director
28-06-2023
Lionel Ventelon: Resigned as Director
10-08-2022
Marc Foguenne: Resigned as Director
13-12-2016
GERMAY Jacques Albert: Resigned as Director
Location & real-estate footprint
Registered office, Herstal · 3 establishment units since 2014
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue des Alouettes 14042 HerstalGround area
1.6 ha
Building footprint
5,162 m²
Volume, LiDAR
33,608 m³
3 parcels, Wallonia · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
3 establishment units
IONICS
since 20142.226.201.270
IONICS S.A.
since 20142.240.322.490
IONICS
since 20182.314.617.859
3 parcels
Wallonia
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62312A0441/00G000 | Wallonia | 9,198 m² | 1 · 891 m² | 9.8 m · 3 fl. |
| 62064A0220/00Y000 | Wallonia | 4,885 m² | 1 · 3,126 m² | 6.9 m · 2 fl. |
| 53402A0191/00S015 | Wallonia | 2,266 m² | 1 · 1,144 m² | 6.6 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
European research
1 project · 50,750 EUR EU contributionProgrammes
h2020
Projects
Materials Technologies for performance improvement of Cooling Systems in Power Plants
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Of 710 companies in sector 25510 we hold annual accounts for 409. 242 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded31-01-2014
Fiscal year end31-12
Activities, NACEBEL
25510Coating of metals
25610Manufacture of fabricated metal products, except machinery and equipment
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.