IRE
ActiveSummary
IRE has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.8m and a net result of €501,533. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 45% of 4814 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability69▼-11
Solvency50▲+7
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.14 against 0.37 in 2023; short-term debt: 20% and cash: 0.3% of total assets), and 74.8% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
25.2%
Return on assets
4.6%
Age of the figures
21 mo
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 · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €2.8m
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-12-2025, 146 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
146 d late
2023
31 d late
2022
31 d late
2021
61 d late
2020
61 d late
2019
153 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 81 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€501,533▼ 57.2%
2023 · €1.2m
Working capital
-€1.9m▲ 22.7%
2023 · -€2.4m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€439,432▼ 32.6%€551,512▲ 25.5%€893,953▲ 62.1%€2.0m▲ 119%€982,035▼ 49.8%
Net result-€46,066€135,253€383,811▲ 184%€1.2m▲ 205%€501,533▼ 57.2%
Equity€573,922▼ 7.4%€709,175▲ 23.6%€1.1m▲ 54.1%€2.3m▲ 107%€2.8m▲ 22.2%
Total assets€15.7m▼ 8.6%€14.9m▼ 5.1%€14.3m▼ 4.2%€12.7m▼ 11.1%€11.0m▼ 13.5%
Debt€15.1m▼ 8.7%€14.2m▼ 6.2%€13.2m▼ 7.1%€10.3m▼ 21.9%€8.1m▼ 21.5%
Working capital-€5.5m▲ 4.7%-€5.6m▼ 0.7%-€5.3m▲ 5.7%-€2.4m▲ 53.6%-€1.9m▲ 22.7%
Staff (FTE)0
Why a figure moved sharply
- 2024 Net result -57% on 2023. Cause not known from the registers.
- 2023 Net result +205%, Equity +107% on 2022. Cause not known from the registers.
- 2022 Net result +184%, Equity +54% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 50% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €11.0m
Fixed assets
€10.7m ▼ 5.4%
Current assets
€309,567 ▼ 78.0%
Equity and liabilities €11.0m
Equity
€2.8m ▲ 22.2%
Provisions
€126,182 =
Debt
€8.1m ▼ 21.5%
Debt's share of the balance-sheet total falls from 81.2% to 73.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.6m▼
2023 · €2.6m
Cash flow
€1.1m▼
2023 · €1.8m
Current ratio
0.14▼
2023 · 0.37
Debt to equity
2.93▼
2023 · 4.55
ROE
18.1%▼
2023 · 51.7%
ROA
4.6%▼
2023 · 9.2%
Interest coverage
5.35▼
2023 · 6.59
Debt ≤ 1 year
€2.2m▼
2023 · €3.9m
Debt > 1 year
€5.6m▼
2023 · €6.3m
Income taxes
€180,650▼
2023 · €269,922
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 142 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 96% are still going.
- Medium-sized
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
0.7%
went bankrupt
2.1%
stopped otherwise
96%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 142 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €823,816 | €779,412 | €763,172 | €640,401 | €640,515 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €39,777 | -€674 | €65,414 | €7,480 | ▼ 88.6% |
| Other operating charges640/8 | - | €236,876 | €205,101 | €229,269 | €212,677 | ▼ 7.2% |
| Non-recurring operating charges66A | - | - | - | €771,422 | €0 | ▼ 100% |
| Gross operating margin9900 | €1.5m | €1.6m | €1.9m | €3.7m | €1.8m | ▼ 49.7% |
| Operating profit (loss)9901 | €439,432 | €551,512 | €893,953 | €2.0m | €982,035 | ▼ 49.8% |
| Financial income75/76B | - | €12,715 | - | €2,686 | €3,593 | ▲ 33.8% |
| Recurring financial income75 | €1,035 | €12,715 | - | €2,686 | €3,593 | ▲ 33.8% |
| Financial charges65/66B | - | €405,717 | €370,382 | €394,040 | €303,445 | ▼ 23.0% |
| Recurring financial charges65 | €486,533 | €405,717 | €370,382 | €394,040 | €303,445 | ▼ 23.0% |
| Profit (loss) for the period before taxes9903 | -€46,066 | €158,510 | €523,572 | €1.6m | €682,183 | ▼ 56.5% |
| Transfer to deferred taxes680 | - | - | - | €126,182 | €0 | ▼ 100% |
| Income taxes67/77 | - | €23,257 | €139,760 | €269,922 | €180,650 | ▼ 33.1% |
| Profit (loss) for the period9904 | -€46,066 | €135,253 | €383,811 | €1.2m | €501,533 | ▼ 57.2% |
| Transfer to tax-exempt reserves689 | - | - | - | €378,546 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | -€46,066 | €135,253 | €383,811 | €792,080 | €501,533 | ▼ 36.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €15.7m | €14.9m | €14.3m | €12.7m | €11.0m | ▼ 13.5% |
| Fixed assets21/28 | €15.5m | €14.8m | €14.0m | €11.3m | €10.7m | ▼ 5.4% |
| Tangible fixed assets22/27 | €15.5m | €14.8m | €14.0m | €11.3m | €10.7m | ▼ 5.4% |
| Land and buildings22 | - | €14.8m | €14.0m | €11.3m | €10.7m | ▼ 5.6% |
| Plant, machinery and equipment23 | - | €0 | €0 | €0 | - | - |
| Other tangible fixed assets26 | - | €1,330 | €998 | €7,992 | €6,856 | ▼ 14.2% |
| Assets under construction and advance payments27 | - | - | - | - | €18,875 | - |
| Current assets29/58 | €175,136 | €153,341 | €294,046 | €1.4m | €309,567 | ▼ 78.0% |
| Stocks and contracts in progress3 | €10,364 | €10,364 | €10,364 | €10,364 | €0 | ▼ 100% |
| Stocks30/36 | - | €10,364 | €10,364 | €10,364 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €104,600 | €105,395 | €237,429 | €1.3m | €267,935 | ▼ 80.1% |
| Trade receivables40 | - | €102,200 | €236,414 | €356,736 | €262,655 | ▼ 26.4% |
| Other amounts receivable41 | - | €3,195 | €1,015 | €987,514 | €5,280 | ▼ 99.5% |
| Cash at bank and in hand54/58 | €53,729 | €31,367 | €39,689 | €49,778 | €33,992 | ▼ 31.7% |
| Deferred charges and accrued income490/1 | - | €6,215 | €6,564 | €5,909 | €7,641 | ▲ 29.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €15.7m | €14.9m | €14.3m | €12.7m | €11.0m | ▼ 13.5% |
| Equity10/15 | €573,922 | €709,175 | €1.1m | €2.3m | €2.8m | ▲ 22.2% |
| Contributions10/11 | €343,419 | €358,454 | €358,454 | €358,454 | €358,454 | = |
| Capital10 | - | €343,419 | €343,419 | €343,419 | €343,419 | = |
| Issued capital100 | - | €343,419 | €343,419 | €343,419 | €343,419 | = |
| Outside capital11 | - | €15,035 | €15,035 | €15,035 | €15,035 | = |
| Share premium1100/10 | - | €15,035 | €15,035 | €15,035 | €15,035 | = |
| Reserves13 | €34,342 | €34,342 | €34,342 | €412,888 | €412,888 | = |
| Non-distributable reserves130/1 | - | €34,342 | €34,342 | €34,342 | €34,342 | = |
| Legal reserve130 | - | €34,342 | €34,342 | €34,342 | €34,342 | = |
| Tax-exempt reserves132 | - | - | - | €378,546 | €378,546 | = |
| Profit (loss) carried forward14 | €181,126 | €316,379 | €700,191 | €1.5m | €2.0m | ▲ 33.6% |
| Provisions and deferred taxes16 | - | - | - | €126,182 | €126,182 | = |
| Deferred taxes168 | - | - | - | €126,182 | €126,182 | = |
| Amounts payable17/49 | €15.1m | €14.2m | €13.2m | €10.3m | €8.1m | ▼ 21.5% |
| Amounts payable after more than one year17 | €9.4m | €8.4m | €7.4m | €6.3m | €5.6m | ▼ 11.0% |
| Financial debts170/4 | - | €8.4m | €7.4m | €6.3m | €5.6m | ▼ 11.1% |
| Other amounts payable178/9 | - | €10,000 | €22,000 | €12,000 | €12,000 | = |
| Amounts payable within one year42/48 | €5.7m | €5.7m | €5.6m | €3.9m | €2.2m | ▼ 42.9% |
| Current portion of amounts payable after more than one year42 | - | €987,400 | €987,400 | €1.1m | €952,600 | ▼ 12.0% |
| Financial debts43 | - | €79,164 | - | - | - | - |
| Credit institutions430/8 | - | €79,164 | - | - | - | - |
| Trade debts44 | €83,851 | €31,921 | €45,843 | €185,801 | €57,927 | ▼ 68.8% |
| Suppliers440/4 | - | €31,921 | €45,843 | €185,801 | €57,927 | ▼ 68.8% |
| Taxes, remuneration and social security45 | - | €23,708 | €163,017 | €119,922 | €240,572 | ▲ 101% |
| Taxes450/3 | - | €23,708 | €163,017 | €119,922 | €240,572 | ▲ 101% |
| Other amounts payable47/48 | - | €4.6m | €4.4m | €2.5m | €947,178 | ▼ 61.6% |
| Accrued charges and deferred income492/3 | - | €57,895 | €204,395 | €184,742 | €320,155 | ▲ 73.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€46,066 | €135,253 | €383,811 | €1.2m | €501,533 | ▼ 57.2% |
| + Depreciation and write-downs630 | €823,816 | €779,412 | €763,172 | €640,401 | €640,515 | = |
| Operating cash flow (approximation) | €777,750 | €914,665 | €1.1m | €1.8m | €1.1m | ▼ 36.9% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €2.1m | -€31,415 | ▼ 102% |
| Change in cash | - | -€22,362 | €8,322 | €10,089 | -€15,786 | ▼ 256% |
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
2025
24-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 146 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 31 days late
2023
31-12
Financial
Highest result since 2018net €1.2m ▲205%
Operating result €2.0m, net result €1.2m, both a record.
31-12
Financial
Equity above €2mEq €2.3m ▲107%
3 profitable years in a row build equity to €2.3m.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Equity above €1mEq €1.1m ▲54.1%
2 profitable years in a row build equity to €1.1m.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 61 days late
2021
31-12
Financial
Back to profitnet €135,253
Net result €135,253 after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 61 days late
2020
31-12
Financial
Weakest financial yearnet -€46,066
Net result drops to -€46,066, the lowest in the series; recovery starts the following year.
31-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 153 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Liège · 1 establishment unit since 2018
Ground area
4,768 m²
Parcel 62814C0393/00V002, Wallonia. Linked by address, not a title deed.
1 establishment unit
IRE
since 20182.279.816.140
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62814C0393/00V002 | Wallonia | 4,768 m² | - | - |
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 ownersOwners 3
-
50%
-
46.36%
-
4.07%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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.
Recognitions · licences · registrations
Legal Entity Identifier
875500BCLXSQ74OUK568
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Of 12,042 companies in sector 68203 we hold annual accounts for 5,995. 3,316 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded14-08-2018
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
68201Renting and operating of own or leased residential real estate, excluding social housing
68321Property management for co-owned buildings (syndics)
Contact
E-mail
info@ardent-re.be
Phone
042321952
E-invoicing
Reachable via Peppol
Peppol ID
0208:0700890227
Also
9925:BE0700890227
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.