IPROS
ActiveSummary
IPROS has been active since 1989 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€16,709) and a net result of -€4,763. Equity has been shrinking by about 37% per year since 2018. Its solvency ranks better than 19% of 13,741 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 13-11-1989 Normal situation
- Activity
- Agents in non-specialised wholesale trade NACE 46190
- Establishment unit
- 2.045.967.253 1020 Brussel, since 07-12-1989
- Financial year end
- 31 December
- Peppol
- Reachable since 09-12-2025
Board and ownership
Board
- BERTEMES,MichelManaging director
- BERTEMES,AlexisDirector · since 22-08-2024
- EL KALAI AbdelmajidDirector · since 22-08-2024
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
Annual accounts 2025
- Gross margin
- -€4,306
- ▼ 34.2%
- Loss
- €4,763
- ▲ 30.7%
- Equity
- -€16,709
- ▼ 39.9%
- Total assets
- €434,622
- ▼ 3.2%
- Negative equity on 31-12-2025
Turnover not published (micro format)
Score breakdownraises riskCapped at 59: negative equityNegative equity -€16,7092 of the last 3 accounts latelowers riskSize: total assets €434,622Founded in 1989Show the evidence
Checked score
Score 2025
53
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 17% of micro companies in wholesale trade (NACE 46)
Negative equity caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick: 2024
Weak
Solvency
21-1
equity -3.8% of total assets
Liquidity
12-9
short-term debt 103.8% · cash 9.3%
Profitability
35=
return on assets -1.1%
Bankruptcy probability within 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 3.0%
01-2025: 3.0%● unchanged vs 12-2024
02-2025: 3.0%● unchanged vs 01-2025
03-2025: 3.0%● unchanged vs 02-2025
04-2025: 3.0%● unchanged vs 03-2025
05-2025: 3.0%● unchanged vs 04-2025
06-2025: 3.3%▲ +0.3 percentage points vs 05-2025
07-2025: 3.8%▲ +0.5 percentage points vs 06-2025
08-2025: 4.1%▲ +0.3 percentage points vs 07-2025
09-2025: 4.1%● unchanged vs 08-2025highest value
10-2025: 1.2%▼ -2.9 percentage points vs 09-2025
11-2025: 1.2%● unchanged vs 10-2025
12-2025: 1.2%● unchanged vs 11-2025
01-2026: 1.2%● unchanged vs 12-2025
02-2026: 1.2%● unchanged vs 01-2026
03-2026: 1.2%● unchanged vs 02-2026
04-2026: 1.2%● unchanged vs 03-2026
05-2026: 1.5%▲ +0.3 percentage points vs 04-2026
06-2026: 1.6%▲ +0.1 percentage points vs 05-2026
07-2026: 1.7%▲ +0.1 percentage points vs 06-2026
08-2026: 1.1%▼ -0.6 percentage points vs 07-2026
09-2026: 1.1%● unchanged vs 08-2026
10-2026: 0.5%▼ -0.6 percentage points vs 09-2026lowest value
11-2026: 0.5%● unchanged vs 10-2026lowest value
No credit on open account
Liquidity is insufficient, with a current ratio of 0.96 (0.97 in 2024), below 1. Short-term debt is 103.8% and cash 9.3% of total assets. Equity is negative.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro). It does better than 15% of them on solvency, 13% on liquidity, 28% on profitability and 12% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€16,709
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
61 days late
2023
97 days late
2022
85 days late
2021
90 days late
2020
31 days late
2019
105 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 67 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 24 October (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 36 filings
Equity
-€16,709▼ 39.9%
2024 · -€11,946
Total assets
€434,622▼ 3.2%
2024 · €449,025
Net result
-€4,763▼ 30.7%
2024 · -€3,645
Working capital
-€16,709▼ 39.9%
2024 · -€11,946
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€4,718
▼ 31.2%
2025
20182025
Net result
-€4,763
▼ 30.7%
2025
lowest quarter of the sector
20182025
Equity
-€16,709
▼ 39.9%
2025
lowest quarter of the sector
20182025
Total assets
€434,622
▼ 3.2%
2025
highest quarter of the sector
20182025
Debt
€451,331
▼ 2.1%
2025
20182025
Working capital
-€16,709
▼ 39.9%
2025
lowest quarter of the sector
20182025
Solvency
-3.8%
▼ 1.2pp
2025
lowest quarter of the sector
20182025
Current ratio
0.96
▼ 0.01
2025
middle half of the sector
20182025
Return on assets (ROA)
-1.1%
▼ 0.3pp
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€6,843--€12,066-€1,195▲ 90.1%-€1,468▼ 22.8%-€1,062▲ 27.7%-€2,456▼ 131%-€3,596▼ 46.4%-€4,718▼ 31.2%
Net result€6,816--€12,131-€1,237within the sector's middle half▲ 89.8%-€1,516within the sector's middle half▼ 22.6%-€1,113within the sector's middle half▲ 26.6%-€2,505within the sector's middle half▼ 125%-€3,645within the sector's middle half▼ 45.5%-€4,763below the sector's middle half▼ 30.7%
Equity€10,202--€1,929-€3,166below the sector's middle half▼ 64.1%-€4,682below the sector's middle half▼ 47.9%-€5,795below the sector's middle half▼ 23.8%-€8,301below the sector's middle half▼ 43.2%-€11,946below the sector's middle half▼ 43.9%-€16,709below the sector's middle half▼ 39.9%
Total assets€53,144-€2,155▼ 95.9%€1,407below the sector's middle half▼ 34.7%€1,027below the sector's middle half▼ 27.0%€284below the sector's middle half▼ 72.3%€730below the sector's middle half▲ 157%€449,025above the sector's middle half▲ 615×€434,622above the sector's middle half▼ 3.2%
Debt€42,942-€4,084▼ 90.5%€4,573▲ 12.0%€5,709▲ 24.8%€6,079▲ 6.5%€9,031▲ 48.6%€460,970▲ 51×€451,331▼ 2.1%
Working capital€10,287--€1,929-€3,166within the sector's middle half▼ 64.1%-€5,795within the sector's middle half-€8,301below the sector's middle half▼ 43.2%-€11,946below the sector's middle half▼ 43.9%-€16,709below the sector's middle half▼ 39.9%
Solvency19.2%--2.7%below the sector's middle half-3.8%below the sector's middle half▼ 1.2pp
Current ratio1.24-0.97within the sector's middle half0.96within the sector's middle half▼ 0.01
Return on assets (ROA)12.8%--0.8%within the sector's middle half-1.1%within the sector's middle half▼ 0.3pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 €4,718, larger than the loss of €3,596 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Key figures and ratios
Quick ratio
0.09▼
2024 · 0.16
Debt ≤ 1 year
€451,331▼
2024 · €460,970
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €524 | €525 | €384 | €387 | €412 | ▲ 6.4% |
| Gross operating margin9900 | €7,438 | -€1,616 | -€847 | -€944 | -€537 | -€2,072 | -€3,209 | -€4,306 | ▼ 34.2% |
| Operating profit (loss)9901 | €6,843 | -€12,066 | -€1,195 | -€1,468 | -€1,062 | -€2,456 | -€3,596 | -€4,718 | ▼ 31.2% |
| Recurring financial income75 | €12 | - | - | - | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €48 | €51 | €49 | €49 | €45 | ▼ 7.2% |
| Recurring financial charges65 | €39 | €65 | €42 | €48 | €51 | €49 | €49 | €45 | ▼ 7.2% |
| Profit (loss) for the period before taxes9903 | €6,816 | -€12,131 | -€1,237 | -€1,516 | -€1,113 | -€2,505 | -€3,645 | -€4,763 | ▼ 30.7% |
| Profit (loss) for the period9904 | €6,816 | -€12,131 | -€1,237 | -€1,516 | -€1,113 | -€2,505 | -€3,645 | -€4,763 | ▼ 30.7% |
| Profit (loss) for the period to be appropriated9905 | €6,816 | -€12,131 | -€1,237 | -€1,516 | -€1,113 | -€2,505 | -€3,645 | -€4,763 | ▼ 30.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €53,144 | €2,155 | €1,407 | €1,027 | €284 | €730 | €449,025 | €434,622 | ▼ 3.2% |
| Current assets29/58 | €53,144 | €2,155 | €1,407 | €1,027 | €284 | €730 | €449,025 | €434,622 | ▼ 3.2% |
| Stocks and contracts in progress3 | - | - | - | - | - | - | €375,141 | €394,175 | ▲ 5.1% |
| Stocks30/36 | - | - | - | - | - | - | €375,141 | €394,175 | ▲ 5.1% |
| Amounts receivable within one year40/41 | €67 | €67 | €67 | €67 | €67 | €67 | €67 | - | - |
| Other amounts receivable41 | - | - | - | €67 | €67 | €67 | €67 | - | - |
| Cash at bank and in hand54/58 | €53,077 | €2,088 | €1,340 | €960 | €217 | €663 | €73,816 | €40,447 | ▼ 45.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €53,144 | €2,155 | €1,407 | €1,027 | €284 | €730 | €449,025 | €434,622 | ▼ 3.2% |
| Equity10/15 | €10,202 | -€1,929 | -€3,166 | -€4,682 | -€5,795 | -€8,301 | -€11,946 | -€16,709 | ▼ 39.9% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€10,258 | -€22,389 | -€23,626 | -€25,142 | -€26,255 | -€28,761 | -€32,406 | -€37,169 | ▼ 14.7% |
| Amounts payable17/49 | €42,942 | €4,084 | €4,573 | €5,709 | €6,079 | €9,031 | €460,970 | €451,331 | ▼ 2.1% |
| Amounts payable after more than one year17 | - | - | - | €5,709 | - | - | - | - | - |
| Other amounts payable178/9 | - | - | - | €5,709 | - | - | - | - | - |
| Amounts payable within one year42/48 | €42,857 | €4,084 | €4,573 | - | €6,079 | €9,031 | €460,970 | €451,331 | ▼ 2.1% |
| Trade debts44 | - | - | €363 | - | - | €1,331 | €1,718 | - | - |
| Suppliers440/4 | - | - | - | - | - | €1,331 | €1,718 | - | - |
| Other amounts payable47/48 | - | - | - | - | €6,079 | €7,700 | €459,252 | €451,331 | ▼ 1.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,816 | -€12,131 | -€1,237 | -€1,516 | -€1,113 | -€2,505 | -€3,645 | -€4,763 | ▼ 30.7% |
| Operating cash flow (approximation) | €6,816 | -€12,131 | -€1,237 | -€1,516 | -€1,113 | -€2,505 | -€3,645 | -€4,763 | ▼ 30.7% |
| Change in cash | - | -€50,989 | -€748 | -€380 | -€743 | €446 | €73,153 | -€33,369 | - |
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, 2,796 companies had the same profile as IPROS has now. Two years later, 90.4% were still going and 2.1% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a small loss
90.4%
was still going
6.0%
stopped otherwise
2.1%
went bankrupt
Another 1.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IPROS itself: 0.5% within 12 months.
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 2,796 companies, not a prediction for IPROS. 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 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-07-2026 | 2026-00378119 | |
| 31-12-2024 | micro format | 30-09-2025 | 2025-00515813 | |
| 31-12-2023 | micro format | 05-11-2024 | 2024-00527892 | |
| 31-12-2022 | micro format | 24-10-2023 | 2023-00492262 | |
| 31-12-2021 | micro format | 29-10-2022 | 2022-20480247 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-63600393 | |
| 31-12-2019 | micro format | 13-11-2020 | 2020-70200412 | |
| 31-12-2018 | micro format | 31-07-2019 | 2019-42400442 | |
| 31-12-2017 | micro format | 27-07-2018 | 2018-38900207 | |
| 31-12-2016 | micro format | 21-07-2017 | 2017-34500241 |
Board & ownership
Directors
Directors
2 directors, 1 in day-to-day management, last change in 2024
Board 2
BERTEMES,Alexis
Current
Director · since 22-08-2024 · term without a fixed end · listed in the 2025 annual accounts, filed on 31-07-2026
EL KALAI Abdelmajid
Current
Director · since 22-08-2024 · term without a fixed end · also on the board of 4 other companies · listed in the 2025 annual accounts, filed on 31-07-2026
Day-to-day management 1
BERTEMES,Michel
Current
Managing director · appointed in the act of 22-10-2024
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Artikel 16.- Vertegenwoordiging - Gerechtelijke handelingen en rechtshandelingen. De Vennootschap wordt vertegenwoordigd in de handelingen…”
deed of 22-10-2024Owners and capital
Capital transactions
Capital over time
- 22-10-2024 Converted to unavailable equity
Mandate history
3 people, 3 in office
- Board
- Day-to-day management
| Name | Functions and periods |
|---|---|
| BERTEMES,Alexis |
|
| EL KALAI Abdelmajid |
|
| BERTEMES,Michel |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Kan aan iedere gevolmachtigde bijzondere machten delegeren, handelingen die wet en statuten aan algemene vergadering voorbehouden”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Bij miskenning niet tegenstelbaar aan Vennootschap of derden,ongeacht goede of kwade trouw overnemer, minstens helft aandeelhouders met…”“Weigering instemming overdracht onder levenden, voor Voorzitter Ondernemingsrechtbank zetel,als in kortgeding”
Articles of association, deed of 22-10-2024 (in Dutch)
Network & group
Connections & network
4 connected companiesThis company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
A2S Projects
via EL KALAI Abdelmajid · Director (not named in the articles)
→
R&K Vastgoed Groep
via EL KALAI Abdelmajid · Director (not named in the articles)
→
RENO-K
via EL KALAI Abdelmajid · Statutory director
→
Sun2watt
via EL KALAI Abdelmajid · Statutory director
→
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
31-07
micro format · on the deadline day
2025
30-09
micro format · 61 days late
2024
05-11
micro format · 97 days late
22-10
Gazette deed
Registered office moved from Laeken to AsseNew seat: 1730 Asse, Hoogstraat 3 A · Previous seat: 1020 Laeken, Avenue de la Bugrane 143 · Appointments: BERTEMES,Michel, BERTEMES,Alexis and EL KALAI,Abdelmajid12 points ▸
Gazette deed
Registered office moved from Laeken to Asse
New seat: 1730 Asse, Hoogstraat 3 A · Previous seat: 1020 Laeken, Avenue de la Bugrane 143 · Appointments: BERTEMES,Michel, BERTEMES,Alexis and EL KALAI,Abdelmajid12 points ▸
- General meeting, 22-08-2024
- Director appointment, BERTEMES,Michel (managing director)
- Board rule, 3
- Director appointment, BERTEMES,Alexis (director)
- Director appointment, EL KALAI,Abdelmajid (director)
- Registered-office move, 1730 Asse,Hoogstraat 3 A
- Purpose change
- Legal-form conversion, “Besloten Vennootschap” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Other provision, “opheffing statutair-onbeschikbare eigen vermogensrekening, middelen beschikbaar voor uitkering” (deed in Dutch)
- Amendment of the articles
- Capital
2023
24-10
micro format · 85 days late
2022
29-10
micro format · 90 days late
2021
31-08
micro format · 31 days late
2020
13-11
micro format · 105 days late
2019
31-12
Financial
Weakest financial yearnet -€12,131
The net result drops to -€12,131, the lowest from 2018 to 2025. It recovers the following year.
31-07
micro format · on the deadline day
2018
27-07
micro format · 4 days before the deadline
2017
21-07
micro format · 10 days before the deadline
1989
08-12
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
IPROS in French
Enterprise number
0438.911.241
Legal form
Private limited company
Status
Active, normale toestand
Founded
13-11-1989
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 22-10-2024 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Administratieve zetels,bijkantoren,agentschappen,opslagplaatsen en verkooppunten in België en buitenland bij eenvoudig besluit…”
deed of 22-10-2024 (in Dutch)Registered office and establishments
Registered office
Hoogstraat 3, 1730 Asse, Belgium
1 former office
- 1020 Laeken until the act of 22-10-2024
Establishment unit
Stalkruidlaan 143, 1020 Brussel since 07-12-1989 · unit number 2.045.967.25314230 Manufacture of wearing apparel
Activities
NACEBEL 202546190
Agents in non-specialised wholesale trade main activity
Codes under NACEBEL 2008
46190
Wholesale trade main activity
Codes under NACEBEL 2003
51190
main activity
Invoicing and payment
VAT number
BE 0438.911.241
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the addresses
Ground area
620 m²
Building footprint
126 m²
Building volume
905 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21819C0193/00P004 | Brussels | 620 m² | 1 · 126 m² | 11.7 m · 3 |