IR 4
ActiveSummary
IR 4 has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €394k and a net result of €5k. Equity is shrinking by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 37% of 524 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+55
Solvency71▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €24k at 30 days acceptable
Liquidity short (current ratio 0.03 against 0.03 in 2024; short-term debt: 54.4% and cash: 0.5% of total assets), and 54.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 72
Relative position
BE, all sectors
reference
Scientific research and development (NACE 72)
about 30% fewer bankruptcies
← 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
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
45.6%
Return on assets
0.6%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 23-02-2026, 23 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
23 d late
2024
on the day
2023
6 d early
2022
9 d late
2021
6 d early
2020
3 d early
2019
7 d early
← before the deadline
after the deadline →
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 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€394k▲ 1.2%
2024 · €389k
2019: €335klowest in 7 years
2020: €451k▲ +34.7% vs 2019highest in 7 years
2021: €450k▼ -0.2% vs 2020
2022: €436k▼ -3.0% vs 2021
2023: €421k▼ -3.4% vs 2022
2024: €389k▼ -7.6% vs 2023
2025: €394k▲ +1.2% vs 2024
2019 → 2025
Total assets
€865k▼ 1.1%
2024 · €875k
2019: €783klowest in 7 years
2020: €904k▲ +15.4% vs 2019highest in 7 years
2021: €879k▼ -2.8% vs 2020
2022: €861k▼ -2.1% vs 2021
2023: €854k▼ -0.7% vs 2022
2024: €875k▲ +2.4% vs 2023
2025: €865k▼ -1.1% vs 2024
2019 → 2025
Net result
€5k
2024 · €-32k
2019: €7khighest in 7 years
2020: €-3k▼ -149% vs 2019
2021: €-842▲ +75.2% vs 2020
2022: €-14k▼ -1522% vs 2021
2023: €-15k▼ -8.1% vs 2022
2024: €-32k▼ -117% vs 2023lowest in 7 years
2025: €5k▲ +115% vs 2024
2019 → 2025
Working capital
€-456k▲ 3.6%
2024 · €-473k
2019: €-212khighest in 7 years
2020: €-224k▼ -5.6% vs 2019
2021: €-226k▼ -1.0% vs 2020
2022: €-240k▼ -6.4% vs 2021
2023: €-418k▼ -74.0% vs 2022
2024: €-473k▼ -13.1% vs 2023lowest in 7 years
2025: €-456k▲ +3.6% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€450k-€436k▼ 3.0%€421k▼ 3.4%€389k▼ 7.6%€394k▲ 1.2%
2021: €450khighest in 5 years
2022: €436k▼ -3.0% vs 2021
2023: €421k▼ -3.4% vs 2022
2024: €389k▼ -7.6% vs 2023lowest in 5 years
2025: €394k▲ +1.2% vs 2024
Operating result€4k-€-10k€-10k▼ 2.9%€-30k▼ 205%€5k
2021: €4k
2022: €-10k▼ -346% vs 2021
2023: €-10k▼ -2.9% vs 2022
2024: €-30k▼ -205% vs 2023lowest in 5 years
2025: €5k▲ +118% vs 2024highest in 5 years
Net result€-842-€-14k▼ 1,522%€-15k▼ 8.1%€-32k▼ 117%€5k
2021: €-842
2022: €-14k▼ -1522% vs 2021
2023: €-15k▼ -8.1% vs 2022
2024: €-32k▼ -117% vs 2023lowest in 5 years
2025: €5k▲ +115% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €5k after a loss of €30k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €865k
Fixed assets
€850k ▼ 1.4%
Current assets
€15k ▲ 19.8%
Equity and liabilities €865k
Equity
€394k ▲ 1.2%
Debt
€471k ▼ 3.0%
Debt's share of the balance-sheet total falls from 55.5% to 54.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€18k▲
2024 · €-15k
Cash flow
€17k▲
2024 · €-17k
Current ratio
0.03▲
2024 · 0.03
Debt to equity
1.19▼
2024 · 1.25
ROE
1.2%▲
2024 · -8.2%
ROA
0.6%▲
2024 · -3.7%
Interest coverage
60.38▲
2024 · -62.42
Debt ≤ 1 year
€471k▼
2024 · €486k
Income taxes
€139▲
2024 · €131
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€875k€865k▼
Fixed assets21/28€862k€850k▼
Tangible fixed assets22/27€862k€850k▼
Land and buildings22€862k€850k▼
Furniture and vehicles24€346€260▼
Current assets29/58€13k€15k▲
Amounts receivable within one year40/41€12k€11k▼
Trade receivables40€2k€2k▼
Other amounts receivable41€10k€9k▼
Cash at bank and in hand54/58€288€4k▲
Equity and liabilities
Total equity and liabilities10/49€875k€865k▼
Equity10/15€389k€394k▲
Contributions10/11€19k€19k=
Revaluation surpluses12€568k€568k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€-199k€-194k▲
Amounts payable17/49€486k€471k▼
Amounts payable within one year42/48€486k€471k▼
Trade debts44€3k€3k▲
Suppliers440/4€3k€3k▲
Taxes, remuneration and social security45€132€2k▲
Taxes450/3€132€2k▲
Other amounts payable47/48€482k€465k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€12k▼
Other operating charges640/8€7k€5k▼
Gross operating margin9900€-8k€22k▲
Operating profit (loss)9901€-30k€5k▲
Financial income75/76B€2€2=
Recurring financial income75€2€2=
Financial charges65/66B€2k€292▼
Recurring financial charges65€244€292▲
Non-recurring financial charges66B€1k-
Profit (loss) for the period before taxes9903€-32k€5k▲
Income taxes67/77€131€139▲
Profit (loss) for the period9904€-32k€5k▲
Profit (loss) for the period to be appropriated9905€-32k€5k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-199k€-194k▲
Profit (loss) brought forward from the previous period14P€-167k€-199k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14k | €14k | €14k | €15k | €12k | ▼ 17.3% |
| Other operating charges640/8 | - | €3k | €5k | €7k | €5k | ▼ 35.8% |
| Gross operating margin9900 | €25k | €8k | €9k | €-8k | €22k | ▲ 376% |
| Operating profit (loss)9901 | €4k | €-10k | €-10k | €-30k | €5k | ▲ 118% |
| Financial income75/76B | - | €431 | €2 | €2 | €2 | = |
| Recurring financial income75 | €4 | €431 | €2 | €2 | €2 | = |
| Financial charges65/66B | - | €4k | €5k | €2k | €292 | ▼ 82.6% |
| Recurring financial charges65 | €5k | €4k | €5k | €244 | €292 | ▲ 19.7% |
| Non-recurring financial charges66B | - | - | - | €1k | - | - |
| Profit (loss) for the period before taxes9903 | €-725 | €-14k | €-15k | €-32k | €5k | ▲ 116% |
| Income taxes67/77 | €117 | €117 | €120 | €131 | €139 | ▲ 6.1% |
| Profit (loss) for the period9904 | €-842 | €-14k | €-15k | €-32k | €5k | ▲ 115% |
| Profit (loss) for the period to be appropriated9905 | €-842 | €-14k | €-15k | €-32k | €5k | ▲ 115% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €879k | €861k | €854k | €875k | €865k | ▼ 1.1% |
| Fixed assets21/28 | €865k | €851k | €839k | €862k | €850k | ▼ 1.4% |
| Tangible fixed assets22/27 | €865k | €851k | €839k | €862k | €850k | ▼ 1.4% |
| Land and buildings22 | - | €844k | €834k | €862k | €850k | ▼ 1.4% |
| Furniture and vehicles24 | - | €7k | €5k | €346 | €260 | ▼ 24.9% |
| Current assets29/58 | €14k | €9k | €15k | €13k | €15k | ▲ 19.8% |
| Amounts receivable within one year40/41 | €9k | €7k | €13k | €12k | €11k | ▼ 12.2% |
| Trade receivables40 | - | €549 | €6k | €2k | €2k | ▼ 15.7% |
| Other amounts receivable41 | - | €6k | €7k | €10k | €9k | ▼ 11.5% |
| Cash at bank and in hand54/58 | €5k | €2k | €2k | €288 | €4k | ▲ 1,386% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €879k | €861k | €854k | €875k | €865k | ▼ 1.1% |
| Equity10/15 | €450k | €436k | €421k | €389k | €394k | ▲ 1.2% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Revaluation surpluses12 | - | €568k | €568k | €568k | €568k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €-138k | €-152k | €-167k | €-199k | €-194k | ▲ 2.4% |
| Amounts payable17/49 | €429k | €424k | €433k | €486k | €471k | ▼ 3.0% |
| Amounts payable after more than one year17 | €190k | €175k | - | - | - | - |
| Financial debts170/4 | - | €175k | - | - | - | - |
| Amounts payable within one year42/48 | €239k | €250k | €433k | €486k | €471k | ▼ 3.0% |
| Current portion of amounts payable after more than one year42 | - | €15k | - | - | - | - |
| Trade debts44 | €621 | €1k | €724 | €3k | €3k | ▲ 1.1% |
| Suppliers440/4 | - | €1k | €724 | €3k | €3k | ▲ 1.1% |
| Taxes, remuneration and social security45 | - | €528 | €18k | €132 | €2k | ▲ 1,747% |
| Taxes450/3 | - | €528 | €18k | €132 | €2k | ▲ 1,747% |
| Other amounts payable47/48 | - | €233k | €415k | €482k | €465k | ▼ 3.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-842 | €-14k | €-15k | €-32k | €5k | ▲ 115% |
| + Depreciation and write-downs630 | €14k | €14k | €14k | €15k | €12k | ▼ 17.3% |
| Operating cash flow (approximation) | €13k | €184 | €-642 | €-17k | €17k | ▲ 201% |
| Investment in fixed assets (approximation) | - | €-1 | €-2k | €-38k | €0 | ▲ 100% |
| Change in cash | - | €-2k | €73 | €-2k | €4k | ▲ 289% |
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
23-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 23 days late
2025
30-06
Financial
Back to profitnet €5k
Net result €5k after 5 loss-making years.
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Weakest financial yearnet €-32k
Net result drops to €-32k, the lowest in the series; recovery starts the following year.
25-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
09-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 9 days late
2022
25-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
24-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
15-01
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
23-01
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.
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, Oudergem · 1 establishment unit since 2008
Ground area
248 m²
Building footprint
144 m²
Volume, LiDAR
1,588 m³
Parcel 21002A0096/00F016, Brussels · tallest building 15.1 m, ±4 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
Louis Clesselaan 46, 1160 Oudergem
since 20082.192.415.081
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21002A0096/00F016 | Brussels | 248 m² | 1 · 144 m² | 15.1 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.
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Of 762 companies in sector 72101 we hold annual accounts for 481. 329 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 (pre-2019)
Founded23-12-2008
Fiscal year end30-06
Activities, NACEBEL 2025
72101Research and development on biotechnology
72109Other research and development on natural sciences
Scores and ratios are computed by Checked and are not a credit decision.