IRISnet

Active

Private limited companyfounded 201214 yrs activeTervurenlaan 270, 1150 Sint-Pieters-Woluwe, BelgiumKBO/BCE: BE 0847.220.467

Summary

IRISnet has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €23.63M and a net result of €876k. Equity is growing by ~5.8% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.0% (low).

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Checked score

Score 2024

66 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability69▼-2

Solvency72▲+4

Growth50▼-2

Track record100

Bankruptcy probability, 12 months

1.0% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €1.55M at 30 days acceptable

Liquidity ample (current ratio 1.99 against 2.31 in 2023; short-term debt: 28.2% and cash: 11% of total assets), but 53.1% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 42

Relative position

BE, all sectors

reference

Sector 42

higher

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

46.9%

Return on assets

1.7%

Age of the figures

21 mo

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 13-06-2025, 48 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

48 d early

2023

43 d early

2022

46 d early

2021

44 d early

2020

39 d early

2019

48 d late

← before the deadline after the deadline →

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, unclassified schema

Turnover

€45.23M▼ 5.2%

2023 · €47.72M

2018: €36.33M 2019: €29.32M 2020: €36.93M 2022: €44.62M 2023: €47.72M

2018 → 2024

EBIT margin

2.8%▼ 1.6pp

2023 · 4.5%

2018: 9.5% 2019: 8.0% 2020: 4.4% 2022: 3.6% 2023: 4.5%

2018 → 2024

Net result

€876k▼ 43.7%

2023 · €1.56M

2018: €2.41M 2019: €1.58M 2020: €1.14M 2022: €1.13M 2023: €1.56M

2018 → 2024

Working capital

€14.07M▼ 20.8%

2023 · €17.76M

2018: €9.93M 2019: €11.12M 2020: €16.70M 2022: €21.77M 2023: €17.76M

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20192020202220232024Trend

Turnover€29.32M-€36.93M▲ 25.9%€44.62M▲ 20.8%€47.72M▲ 6.9%€45.23M▼ 5.2%

Equity€18.13M-€19.12M▲ 5.5%€21.20M▲ 10.9%€22.75M▲ 7.3%€23.63M▲ 3.8%

Operating result€2.36M-€1.61M▼ 31.7%€1.63M▲ 1.0%€2.13M▲ 30.7%€1.28M▼ 39.8%

Net result€1.58M-€1.14M▼ 27.5%€1.13M▼ 1.4%€1.56M▲ 38.1%€876k▼ 43.7%

Result per fiscal year

Operating resultNet result

The operating result falls in 2024; 2024 is 40% below 2023 and is the lowest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €50.36M

43.9%

56.1%

Fixed assets €22.08M ▲ 3.8%

Current assets €28.28M ▼ 9.6%

Equity and liabilities €50.36M

46.9%

53.0%

Equity €23.63M ▲ 3.8%

Provisions €25k ▼ 75.4%

Debt €26.71M ▼ 10.1%

Debt's share of the balance-sheet total falls from 56.5% to 53.0%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€5.00M▼

2023 · €5.60M

Cash flow

€4.59M▼

2023 · €5.03M

Current ratio

1.99▼

2023 · 2.31

Quick ratio

1.97▼

2023 · 2.25

Debt to equity

1.13▼

2023 · 1.31

ROE

3.7%▼

2023 · 6.8%

ROA

1.7%▼

2023 · 3.0%

Interest coverage

290.14▼

2023 · 454.48

Debt ≤ 1 year

€14.21M▲

2023 · €13.53M

Income taxes

€394k▼

2023 · €613k

Staff costs

€4.63M▲

2023 · €4.07M

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 · 2024 against 2023 · 78 lines

Balance sheet Code20232024

Assets

Total assets20/58€52.56M€50.36M▼

Formation expenses20-€0

Fixed assets21/28€21.27M€22.08M▲

Intangible fixed assets21€1.05M€1.00M▼

Tangible fixed assets22/27€20.22M€21.08M▲

Plant, machinery and equipment23€16.67M€16.71M▲

Furniture and vehicles24€3.40M€3.23M▼

Leasing and similar rights25€0€0=

Other tangible fixed assets26€0€889k▲

Assets under construction and advance payments27€145k€251k▲

Financial fixed assets28€975€975=

Other financial fixed assets284/8€975€975=

Amounts receivable and cash guarantees285/8€975€975=

Current assets29/58€31.29M€28.28M▼

Stocks and contracts in progress3€815k€284k▼

Stocks30/36€815k€284k▼

Goods purchased for resale34€815k€284k▼

Amounts receivable within one year40/41€18.98M€18.42M▼

Trade receivables40€18.98M€18.42M▼

Other amounts receivable41€198€902▲

Current investments50/53€2.35M€800k▼

Other investments51/53€2.35M€800k▼

Cash at bank and in hand54/58€5.83M€5.55M▼

Deferred charges and accrued income490/1€3.32M€3.22M▼

Equity and liabilities

Total equity and liabilities10/49€52.56M€50.36M▼

Equity10/15€22.75M€23.63M▲

Contributions10/11€12.25M€12.25M=

Capital10€12.25M-

Issued capital100€12.25M-

Reserves13€1.23M€1.23M=

Non-distributable reserves130/1€1.23M-

Legal reserve130€1.23M-

Distributable reserves133-€1.23M

Profit (loss) carried forward14€9.28M€10.15M▲

Provisions and deferred taxes16€102k€25k▼

Provisions for liabilities and charges160/5€102k€25k▼

Environmental obligations163-€25k

Other liabilities and charges164/5€102k-

Amounts payable17/49€29.71M€26.71M▼

Amounts payable within one year42/48€13.53M€14.21M▲

Trade debts44€12.32M€12.53M▲

Suppliers440/4€12.32M€12.53M▲

Taxes, remuneration and social security45€1.21M€1.67M▲

Taxes450/3€476k€904k▲

Remuneration and social security454/9€738k€770k▲

Accrued charges and deferred income492/3€16.17M€12.50M▼

Income statement Code20232024

Operating income70/76A€49.22M€45.75M▼

Turnover70€47.72M€45.23M▼

Own construction capitalised72€437k€377k▼

Other operating income74€1.07M€139k▼

Operating charges60/66A€47.10M€44.47M▼

Goods for resale, raw materials and consumables60€29.74M€26.90M▼

Purchases600/8€29.03M€26.51M▼

Change in stocks: decrease (increase)609€705k€394k▼

Services and other goods61€8.84M€9.15M▲

Remuneration, social security and pensions62€4.07M€4.63M▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3.48M€3.72M▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€4k€138k▲

Provisions for liabilities and charges: additions (uses and reversals)635/8€15k€-77k▼

Other operating charges640/8€953k€7k▼

Operating profit (loss)9901€2.13M€1.28M▼

Financial income75/76B€70k€20k▼

Recurring financial income75€70k€20k▼

Income from financial fixed assets750€366€614▲

Income from current assets751€69k€19k▼

Other financial income752/9€62€2▼

Financial charges65/66B€28k€30k▲

Recurring financial charges65€28k€30k▲

Debt charges650€12k€17k▲

Other financial charges652/9€15k€13k▼

Profit (loss) for the period before taxes9903€2.17M€1.27M▼

Income taxes67/77€613k€394k▼

Taxes670/3€613k€394k▼

Profit (loss) for the period9904€1.56M€876k▼

Profit (loss) for the period to be appropriated9905€1.56M€876k▼

Appropriation of the result

Profit (loss) to be appropriated9906€9.28M€10.15M▲

Profit (loss) brought forward from the previous period14P€7.72M€9.28M▲

Social balance

Average headcount (FTE)908735.440.7▲

The notes to these accounts (57 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 14Financial 1Gazette 3Filings 10

2026

14-09

State Gazette act Appointments: Nathalie Pigeolet, Pierre Rutten and Arnaud Filippi

Resignations: Marnix Tack (director) and Maurice Bohet (director)6 facts ▸

General meeting, 11-06-2026
Director appointment, Nathalie Pigeolet (administrateur public)
Director appointment, Pierre Rutten (administrateur public)
Director appointment, Arnaud Filippi (administrateur public)
Director resignation, Marnix Tack (director)
Director resignation, Maurice Bohet (director)

24-08

State Gazette act Appointment: Pierre Rutten (director)

Resignation: Maurice Bohet (director)3 facts ▸

Board meeting, 16-12-2025
Director appointment, Pierre Rutten (director)
Director resignation, Maurice Bohet (director)

14-08

State Gazette act Appointment: Nathalie Pigeolet (director)

Resignation: Mamix Tack (director)3 facts ▸

Board meeting, 04/11/2025
Director appointment, Nathalie Pigeolet (director)
Director resignation, Mamix Tack (director)

2025

13-06

NBB filing Annual accounts filed

fiscal year 2024 · unclassified schema

2024

31-12

Financial Weakest financial yearnet €876k ▼43.7%

Net result drops to €876k, the lowest in the series.

18-06

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

15-06

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

17-06

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

22-06

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

17-09

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 48 days late

2019

18-06

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

28-06

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

03-07

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2016

04-07

NBB filing Annual accounts filed

fiscal year 2015 · full schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

3 directors, no change since 2026

Arnaud Filippi

Administrateur public · since 11-06-2026

Current

Pierre RUTTEN

Director · since 16-12-2025

Current

Nathalie Pigeolet

Director · since 04-11-2025

Current

14-09-2026 Marnix Tack: Resigned as Director

14-09-2026 Maurice Bohet: Resigned as Director

11-06-2026 Arnaud Filippi: Appointed as Administrateur public

16-12-2025 Pierre RUTTEN: Appointed as Director

16-12-2025 Pierre RUTTEN: Appointed as Administrateur public

Full history in the Timeline (9 changes) →

Location & real-estate footprint

Registered office, Sint-Pieters-Woluwe · 1 establishment unit since 2012

establishment The establishment unit on the map

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.

Tervurenlaan 2701150 Sint-Pieters-Woluwe

Ground area

1.9 ha

Building footprint

4,055 m²

Volume, LiDAR

65,676 m³

Parcel 21019A0155/00Z000, Brussels · tallest building 28.9 m, ±5 floors. Linked by address, not a title deed.

1 establishment unit

IRISnet

Tervurenlaan 270, 1150 Sint-Pieters-WoluweConstruction of utility projects for electricity and telecommunications

since 20122.210.942.081

1 parcel

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21019A0155/00Z000 ProtectedSite or landscapeMonsantoparkSource ↗	Brussels	1.9 ha	1 · 4,055 m²	28.9 m · 5 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).

Structure & network

Connections & network

1 connected company

Linked via shared directors

IRISteam

via Pierre RUTTEN · Director

→

Public money · subsidies and aid

European research

1 project · 192,500 EUR EU contribution

Programmes

Horizon 2020

1 entry · 192,500 EUR

Projects

Building an IoT OPen innovation Ecosystem for connected smart objects

Horizon 2020 · participant · 01-01-2016 to 31-05-2019 · 192,500 EUR · bIoTope

Recognitions · licences · registrations

Legal Entity Identifier

9676008RMH28HMBJLV57

no longer live in the LEI register

Similar companies · same sector, comparable size

ENTREPRISES HYDROGAZ

BE 0404.257.990

Grâce-Hollogne · Eq €25.88M

Of 1,825 companies in sector 42220 we hold annual accounts for 958. 65 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded06-07-2012

Fiscal year end31-12

Activities, NACEBEL 2025

42220Construction of utility projects for electricity and telecommunications

61100Wired, wireless and satellite telecommunications

43211General electrical installation work

Sources

Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.

Contact details

2 entries

Phone:02/2824770

Establishment Sint-Pieters-Woluwe 2.210.942.081

Fax:02/2303107

Establishment Sint-Pieters-Woluwe 2.210.942.081