IPRATECH
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 77 days after the deadline Filed on 16 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00560652.
Annual accounts 2025 filed on 16-10-2026 at the NBB all 18 filings
Turnover
≈ €2.7m
Estimated: probably between €1.8m and €4.4m
EBIT margin
Not included in this filing
Net result
€98,194▼ 24.8%
2024 · €130,608
Working capital
€8,509▼ 96.9%
2024 · €272,262
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€2,313
▲ 82.0%
2025
20182025
Net result
€98,194
▼ 24.8%
2025
middle half of the sector
20182025
Equity
€1.6m
▲ 7.4%
2025
middle half of the sector
20182025
Total assets
€4.3m
▲ 65.0%
2025
middle half of the sector
20182025
Debt
€2.7m
▲ 138%
2025
20182025
Working capital
€8,509
▼ 96.9%
2025
lowest quarter of the sector
20182025
Solvency
36.5%
▼ 19.5pp
2025
middle half of the sector
20182025
Current ratio
1.01
▼ 0.26
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
2.3%
▼ 2.7pp
2025
middle half of the sector
20182025
Staff (FTE)
15.6
▲ 41.8%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.06m--€0.01m▲ 79.3%€0.02m€0.05m▲ 147%€0.1m▲ 118%€0.03m▼ 71.6%-€0.01m-€0.002m▲ 82.0%
Net result€0.01m-€0.006m▼ 57.6%€0.01mwithin the sector's middle half▲ 124%€0.05mwithin the sector's middle half▲ 311%€0.1mwithin the sector's middle half▲ 112%€0.1mwithin the sector's middle half▲ 5.2%€0.1mwithin the sector's middle half▲ 10.9%€0.1mwithin the sector's middle half▼ 24.8%
Equity€0.9m-€1.0m▲ 10.1%€1.0mwithin the sector's middle half▲ 0.7%€1.1mwithin the sector's middle half▲ 9.4%€1.3mwithin the sector's middle half▲ 10.6%€1.3mwithin the sector's middle half▲ 7.1%€1.5mwithin the sector's middle half▲ 8.7%€1.6mwithin the sector's middle half▲ 7.4%
Total assets€1.5m-€1.6m▲ 6.1%€1.3mwithin the sector's middle half▼ 16.0%€1.6mwithin the sector's middle half▲ 18.1%€2.1mwithin the sector's middle half▲ 32.5%€2.3mwithin the sector's middle half▲ 12.3%€2.6mwithin the sector's middle half▲ 11.3%€4.3mwithin the sector's middle half▲ 65.0%
Debt€0.6m-€0.6m▼ 0.6%€0.3m▼ 46.9%€0.4m▲ 48.7%€0.8m▲ 88.9%€1.0m▲ 20.1%€1.1m▲ 14.8%€2.7m▲ 138%
Working capital-€0.07m-€0.001m€0.02mbelow the sector's middle half▲ 42×€0.1mwithin the sector's middle half▲ 455%€0.1mwithin the sector's middle half▲ 23.1%€0.2mwithin the sector's middle half▲ 63.6%€0.3mwithin the sector's middle half▲ 11.5%€0.009mbelow the sector's middle half▼ 96.9%
Solvency62.5%-64.9%▲ 2.4pp77.8%above the sector's middle half▲ 12.9pp72.0%within the sector's middle half▼ 5.7pp60.1%within the sector's middle half▼ 11.9pp57.3%within the sector's middle half▼ 2.8pp56.0%within the sector's middle half▼ 1.3pp36.5%within the sector's middle half▼ 19.5pp
Current ratio0.85-1.00▲ 0.151.09below the sector's middle half▲ 0.091.33within the sector's middle half▲ 0.241.19within the sector's middle half▼ 0.141.25within the sector's middle half▲ 0.061.27within the sector's middle half▲ 0.021.01below the sector's middle half▼ 0.26
Return on assets (ROA)0.9%-0.4%▼ 0.5pp1.0%within the sector's middle half▲ 0.6pp3.4%within the sector's middle half▲ 2.4pp5.4%within the sector's middle half▲ 2.0pp5.0%within the sector's middle half▼ 0.3pp5.0%within the sector's middle half=2.3%within the sector's middle half▼ 2.7pp
Staff (FTE)3.7-2.6▼ 29.7%2.8below the sector's middle half▲ 7.7%4.5within the sector's middle half▲ 60.7%6within the sector's middle half▲ 33.3%8.5within the sector's middle half▲ 41.7%11within the sector's middle half▲ 29.4%15.6within the sector's middle half▲ 41.8%
above
within
below
The sector band is the middle half of the companies in Scientific research and development (NACE 72). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €2,313, smaller than the loss of €12,858 in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.3m
Fixed assets
€2.7m ▲ 109%
Current assets
€1.6m ▲ 20.8%
Equity and liabilities €4.3m
Equity
€1.6m ▲ 7.4%
Debt
€2.7m ▲ 138%
Debt's share of the balance-sheet total rises from 44.0% to 63.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€492,971▲
2024 · €276,921
Cash flow
€593,478▲
2024 · €420,388
Quick ratio
0.61▼
2024 · 0.77
Debt to equity
1.74▲
2024 · 0.79
ROE
6.3%▼
2024 · 9.0%
Interest coverage
5.06▼
2024 · 7.75
Debt ≤ 1 year
€1.6m▲
2024 · €1.0m
Debt > 1 year
€1.2m▲
2024 · €115,920
Income taxes
€6,378▲
2024 · -€2,233
Staff costs
€1.0m▲
2024 · €701,525
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 6 | 9 | 11 | 17 | 15 |
| full-time | 3 | 7 | 8 | 15 | 14 |
| part-time | 3 | 2 | 3 | 2 | 1 |
| in full-time equivalents | 5.5 | 8.6 | 9.6 | 16.4 | 14.6 |
| Average over the year, in full-time equivalents | 4.5 | 6 | 8.5 | 11 | 15.6 |
| On a permanent contract | 4 | 5 | 9 | 17 | 15 |
| Joined | 4 | 6 | 10 | 11 | 3 |
| Left | 1 | 3 | 8 | 5 | 5 |
| Training hours | 213 | 403 | 410 | 248 | 23 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €50,000 | €190,000 | €175,768 | €202,618 | €1.4m |
| Debts guaranteed by Belgian public bodies | - | - | - | €97,500 | - |
| Mortgages, amount registered | - | - | - | - | €50,000 |
| Mortgage mandates | - | - | - | - | €950,000 |
| Carrying value of the mortgaged assets | - | - | - | - | €901,506 |
| Pledge on the business | - | €120,000 | €120,000 | €230,000 | €230,000 |
| Carrying value of the other pledged assets | €120,000 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €15,291 | €6,535 | €121,963 | €349,902 | €1.8m |
| Intangible fixed assets | €60,496 | €45,046 | - | €134,900 | €200,000 |
| Financial fixed assets | €998 | €62,250 | €797 | - | €96 |
| Depreciation and write-downs of the year | €58,689 | €53,217 | €151,093 | €289,779 | €495,284 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
European research
1 project · €150,000 EU contributionProgrammes
Projects
Integrated control and sensing platform for biopharmaceutical cultivation process high-throughput development and production
Public contracts
2 awards · 2024
Fourniture, installation et mise en service de plusieurs plateformes analytiques et technologique dans le cadre du portefeuille PHENIX (Plateformes tecHnologiquEs et aNalytIques d’eXcellence wallonne en agroalimentaire) - Arrêt-relance des lots 2, 3, 4, 5, 6, 11, 12: Lot 5 : Fermenteurs - Petits bioréacteurs indépendants et autoclavables (1L)
Fourniture, installation et mise en service de plusieurs plateformes analytiques et technologique dans le cadre du portefeuille PHENIX (Plateformes tecHnologiquEs et aNalytIques d’eXcellence wallonne en agroalimentaire) - Arrêt-relance des lots 2, 3, 4, 5, 6, 11, 12: Lot 5 : Fermenteurs - Petits bioréacteurs indépendants et autoclavables (1L)
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.001m | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.3m | €0.3m | €0.5m | €0.7m | €1.0m | ▲ 46.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.07m | €0.05m | €0.06m | €0.05m | €0.2m | €0.3m | €0.5m | ▲ 70.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.001m | - | -€0.002m | - | €0.004m | - |
| Other operating charges640/8 | - | - | - | €0.003m | €0.007m | €0.003m | €0.002m | €0.02m | ▲ 12× |
| Non-recurring operating charges66A | - | - | - | €0.001m | - | €0.003m | - | €340 | - |
| Gross operating margin9900 | €0.3m | €0.2m | €0.2m | €0.4m | €0.5m | €0.7m | €1.0m | €1.5m | ▲ 57.6% |
| Operating profit (loss)9901 | -€0.06m | -€0.01m | €0.02m | €0.05m | €0.1m | €0.03m | -€0.01m | -€0.002m | ▲ 82.0% |
| Financial income75/76B | - | - | - | €0.02m | €0.02m | €0.1m | €0.2m | €0.3m | ▲ 45.4% |
| Recurring financial income75 | €0.1m | €0.03m | €0.02m | €0.02m | €0.02m | €0.1m | €0.2m | €0.3m | ▲ 45.4% |
| Non-recurring financial income76B | - | - | - | - | - | €0.002m | - | - | - |
| Financial charges65/66B | - | - | - | €0.01m | €0.02m | €0.03m | €0.04m | €0.2m | ▲ 321% |
| Recurring financial charges65 | €0.01m | €0.009m | €0.008m | €0.007m | €0.02m | €0.03m | €0.04m | €0.1m | ▲ 172% |
| Non-recurring financial charges66B | - | - | - | €0.006m | - | - | - | €0.05m | - |
| Profit (loss) for the period before taxes9903 | €0.01m | €0.006m | €0.01m | €0.05m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 18.5% |
| Income taxes67/77 | -€18 | -€53 | - | - | -€0.006m | -€0.01m | -€0.002m | €0.006m | - |
| Profit (loss) for the period9904 | €0.01m | €0.006m | €0.01m | €0.05m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 24.8% |
| Profit (loss) for the period to be appropriated9905 | €0.01m | €0.006m | €0.01m | €0.05m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 24.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.5m | €1.6m | €1.3m | €1.6m | €2.1m | €2.3m | €2.6m | €4.3m | ▲ 65.0% |
| Formation expenses20 | €0.002m | €0.002m | €0.002m | - | - | - | - | - | - |
| Fixed assets21/28 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.3m | €2.7m | ▲ 109% |
| Intangible fixed assets21 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.2m | ▲ 67.8% |
| Tangible fixed assets22/27 | €0.03m | €0.007m | €0.005m | €0.02m | €0.01m | €0.06m | €0.2m | €1.6m | ▲ 663% |
| Land and buildings22 | - | - | - | - | - | - | - | €0.9m | - |
| Plant, machinery and equipment23 | - | - | - | €0.009m | €0.008m | €0.005m | €0.07m | €0.1m | ▲ 63.8% |
| Furniture and vehicles24 | - | - | - | €0.006m | €0.006m | €0.01m | €0.005m | €0.002m | ▼ 49.4% |
| Other tangible fixed assets26 | - | - | - | - | - | - | €0.03m | €0.02m | ▼ 22.4% |
| Assets under construction and advance payments27 | - | - | - | - | - | €0.04m | €0.1m | €0.5m | ▲ 428% |
| Financial fixed assets28 | €1.0m | €1.0m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | ▼ 5.6% |
| Current assets29/58 | €0.4m | €0.5m | €0.3m | €0.5m | €0.9m | €1.2m | €1.3m | €1.6m | ▲ 20.8% |
| Stocks and contracts in progress3 | €0.1m | €0.1m | €0.1m | €0.2m | €0.3m | €0.4m | €0.5m | €0.6m | ▲ 21.3% |
| Stocks30/36 | - | - | - | €0.2m | €0.3m | €0.4m | €0.5m | €0.6m | ▲ 21.3% |
| Amounts receivable within one year40/41 | €0.2m | €0.3m | €0.1m | €0.2m | €0.5m | €0.8m | €0.7m | €0.8m | ▲ 18.7% |
| Trade receivables40 | - | - | - | €0.2m | €0.3m | €0.3m | €0.4m | €0.2m | ▼ 42.9% |
| Other amounts receivable41 | - | - | - | €0.01m | €0.1m | €0.5m | €0.3m | €0.6m | ▲ 82.4% |
| Current investments50/53 | - | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Cash at bank and in hand54/58 | - | €0.01m | €0.02m | €0.04m | €0.09m | €0.006m | €0.02m | €0.05m | ▲ 133% |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | €0.005m | €0.002m | - | €0.004m | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.5m | €1.6m | €1.3m | €1.6m | €2.1m | €2.3m | €2.6m | €4.3m | ▲ 65.0% |
| Equity10/15 | €0.9m | €1.0m | €1.0m | €1.1m | €1.3m | €1.3m | €1.5m | €1.6m | ▲ 7.4% |
| Contributions10/11 | €0.8m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Capital10 | - | - | - | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Issued capital100 | - | - | - | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Reserves13 | €0.06m | €0.07m | €0.08m | €0.1m | €0.2m | €0.4m | €0.5m | €0.6m | ▲ 20.0% |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.08m | €0.09m | €0.09m | €0.1m | ▲ 5.2% |
| Legal reserve130 | - | - | - | €0.01m | €0.02m | €0.02m | €0.03m | €0.04m | ▲ 16.2% |
| Own shares acquired1312 | - | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Distributable reserves133 | - | - | - | €0.1m | €0.2m | €0.3m | €0.4m | €0.5m | ▲ 23.5% |
| Investment grants15 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 10.1% |
| Amounts payable17/49 | €0.6m | €0.6m | €0.3m | €0.4m | €0.8m | €1.0m | €1.1m | €2.7m | ▲ 138% |
| Amounts payable after more than one year17 | €0.1m | €0.1m | €0.05m | €0.03m | €0.03m | €0.01m | €0.1m | €1.2m | ▲ 905% |
| Financial debts170/4 | - | - | - | €0.03m | €0.03m | €0.01m | €0.1m | €1.2m | ▲ 905% |
| Amounts payable within one year42/48 | €0.4m | €0.5m | €0.2m | €0.4m | €0.8m | €1.0m | €1.0m | €1.6m | ▲ 52.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.02m | €0.02m | €0.09m | €0.2m | ▲ 122% |
| Financial debts43 | - | - | - | €0.05m | €0.2m | €0.2m | €0.4m | €0.4m | ▼ 11.9% |
| Credit institutions430/8 | - | - | - | €0.05m | - | - | €0.3m | €0.2m | ▼ 39.4% |
| Other loans439 | - | - | - | - | €0.2m | €0.2m | €0.05m | €0.1m | ▲ 180% |
| Trade debts44 | €0.08m | €0.2m | €0.06m | €0.2m | €0.3m | €0.3m | €0.1m | €0.4m | ▲ 174% |
| Suppliers440/4 | - | - | - | €0.2m | €0.3m | €0.3m | €0.1m | €0.4m | ▲ 174% |
| Advances received on contracts in progress46 | - | - | - | - | €0.003m | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.09m | €0.1m | €0.2m | €0.3m | €0.3m | ▲ 0.5% |
| Taxes450/3 | - | - | - | €0.004m | €0.01m | €0.01m | €0.06m | €0.04m | ▼ 43.0% |
| Remuneration and social security454/9 | - | - | - | €0.09m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 13.5% |
| Other amounts payable47/48 | - | - | - | €0.01m | €0.1m | €0.2m | €0.1m | €0.4m | ▲ 175% |
| Accrued charges and deferred income492/3 | - | - | - | €0.03m | €0.002m | €0.003m | €0.005m | €0.003m | ▼ 45.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.01m | €0.006m | €0.01m | €0.05m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 24.8% |
| + Depreciation and write-downs630 | €0.2m | €0.07m | €0.05m | €0.06m | €0.05m | €0.2m | €0.3m | €0.5m | ▲ 70.9% |
| Operating cash flow (approximation) | €0.2m | €0.08m | €0.06m | €0.1m | €0.2m | €0.3m | €0.4m | €0.6m | ▲ 41.2% |
| Investment in fixed assets (approximation) | - | -€0.07m | €0.008m | -€0.07m | -€0.1m | -€0.1m | -€0.5m | -€1.9m | ▼ 295% |
| Change in cash | - | - | €0.006m | €0.03m | €0.04m | -€0.08m | €0.01m | €0.03m | ▲ 89.1% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,049 companies had the same profile as IPRATECH has now. Two years later, 95.9% were still going and 0.4% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.9%
was still going
3.6%
stopped otherwise
0.4%
went bankrupt
The bankruptcy probability of IPRATECH itself is higher: 0.8% within 12 months. It rests on far more data about IPRATECH than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,049 companies, not a prediction for IPRATECH. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 16-10-2026 | 2026-00560652 | |
| 31-12-2024 | full format | 29-09-2025 | 2025-00508679 | |
| 31-12-2023 | full format | 08-07-2024 | 2024-00219213 | |
| 31-12-2022 | full format | 07-07-2023 | 2023-00219368 | |
| 31-12-2021 | full format | 04-07-2022 | 2022-20152092 | |
| 31-12-2020 | full format | 05-08-2021 | 2021-46500147 | |
| 31-12-2019 | full format | 20-08-2020 | 2020-43000172 | |
| 31-12-2018 | full format | 24-07-2019 | 2019-37500596 | |
| 31-12-2017 | full format | 30-07-2018 | 2018-41500418 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-60000384 |