IRO
ActiveSummary
IRO has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €271,925 and a net result of €94,093. Equity is growing by ~40.7% per year across the filed fiscal years. Its solvency ranks better than 87% of 15872 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23,000 at 30 days acceptable
Liquidity ample (current ratio 5.34 against 13.17 in 2023; short-term debt: 14.6% and cash: 48.2% of total assets), and 14.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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
85.4%
Return on assets
29.6%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-06-2025, 39 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
39 d early
2023
12 d early
2022
35 d early
2021
37 d early
2020
11 d early
2019
39 d early
← 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 29 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€271,925▲ 52.9%
2023 · €177,832
Total assets
€318,416▲ 65.9%
2023 · €191,973
Net result
€94,093▲ 25.0%
2023 · €75,294
Working capital
€201,627▲ 17.1%
2023 · €172,127
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€19,836▲ 70.6%€26,227▲ 32.2%€25,838▼ 1.5%€84,279▲ 226%€135,067▲ 60.3%
Net result€15,421within the sector's middle half▲ 84.2%€19,522within the sector's middle half▲ 26.6%€19,225within the sector's middle half▼ 1.5%€75,294above the sector's middle half▲ 292%€94,093above the sector's middle half▲ 25.0%
Equity€63,791within the sector's middle half▲ 31.9%€83,313within the sector's middle half▲ 30.6%€102,538within the sector's middle half▲ 23.1%€177,832above the sector's middle half▲ 73.4%€271,925above the sector's middle half▲ 52.9%
Total assets€79,728within the sector's middle half▲ 31.5%€98,008within the sector's middle half▲ 22.9%€111,881within the sector's middle half▲ 14.2%€191,973within the sector's middle half▲ 71.6%€318,416within the sector's middle half▲ 65.9%
Debt€15,937▲ 29.9%€14,695▼ 7.8%€9,343▼ 36.4%€14,141▲ 51.4%€46,491▲ 229%
Working capital€60,583within the sector's middle half▲ 25.2%€79,678within the sector's middle half▲ 31.5%€99,083within the sector's middle half▲ 24.4%€172,127above the sector's middle half▲ 73.7%€201,627above the sector's middle half▲ 17.1%
Solvency80.0%above the sector's middle half▲ 0.2pp85.0%above the sector's middle half▲ 5.0pp91.6%above the sector's middle half▲ 6.6pp92.6%above the sector's middle half▲ 1.0pp85.4%above the sector's middle half▼ 7.2pp
Current ratio4.80above the sector's middle half▼ 0.146.42above the sector's middle half▲ 1.6211.60above the sector's middle half▲ 5.1813.17above the sector's middle half▲ 1.575.34above the sector's middle half▼ 7.83
Return on assets (ROA)19.3%above the sector's middle half▲ 5.5pp19.9%above the sector's middle half▲ 0.6pp17.2%above the sector's middle half▼ 2.7pp39.2%above the sector's middle half▲ 22.0pp29.6%above the sector's middle half▼ 9.7pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 60% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €318,416
Fixed assets
€70,374 ▲ 1,134%
Current assets
€248,042 ▲ 33.2%
Equity and liabilities €318,416
Equity
€271,925 ▲ 52.9%
Debt
€46,491 ▲ 229%
Debt's share of the balance-sheet total rises from 7.4% to 14.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€145,872▲
2023 · €85,430
Cash flow
€104,898▲
2023 · €76,446
Quick ratio
3.87▼
2023 · 7.38
Debt to equity
0.17▲
2023 · 0.08
ROE
34.6%▼
2023 · 42.3%
Interest coverage
493.86▲
2023 · 255.82
Debt ≤ 1 year
€46,415▲
2023 · €14,141
Income taxes
€40,679▲
2023 · €8,651
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% 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 497,662 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% | 1.7% |
| 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 75% 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 26,970 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 | €323 | €960 | €1,123 | €1,152 | €10,805 | ▲ 838% |
| Other operating charges640/8 | - | - | - | - | €312 | - |
| Gross operating margin9900 | €20,290 | €27,188 | €26,961 | €85,430 | €146,184 | ▲ 71.1% |
| Operating profit (loss)9901 | €19,836 | €26,227 | €25,838 | €84,279 | €135,067 | ▲ 60.3% |
| Financial income75/76B | - | - | €1 | - | - | - |
| Recurring financial income75 | - | - | €1 | - | - | - |
| Financial charges65/66B | - | €336 | €456 | €334 | €295 | ▼ 11.6% |
| Recurring financial charges65 | €160 | €336 | €456 | €334 | €295 | ▼ 11.6% |
| Profit (loss) for the period before taxes9903 | €19,676 | €25,892 | €25,383 | €83,945 | €134,772 | ▲ 60.5% |
| Income taxes67/77 | €4,255 | €6,370 | €6,158 | €8,651 | €40,679 | ▲ 370% |
| Profit (loss) for the period9904 | €15,421 | €19,522 | €19,225 | €75,294 | €94,093 | ▲ 25.0% |
| Profit (loss) for the period to be appropriated9905 | €15,421 | €19,522 | €19,225 | €75,294 | €94,093 | ▲ 25.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €79,728 | €98,008 | €111,881 | €191,973 | €318,416 | ▲ 65.9% |
| Fixed assets21/28 | €3,209 | €3,635 | €3,455 | €5,705 | €70,374 | ▲ 1,134% |
| Tangible fixed assets22/27 | €3,209 | €3,635 | €3,455 | €5,705 | €70,374 | ▲ 1,134% |
| Furniture and vehicles24 | - | €3,635 | €3,455 | €5,705 | €70,374 | ▲ 1,134% |
| Current assets29/58 | €76,519 | €94,373 | €108,426 | €186,268 | €248,042 | ▲ 33.2% |
| Stocks and contracts in progress3 | €30,361 | €28,758 | €35,621 | €81,974 | €68,595 | ▼ 16.3% |
| Stocks30/36 | - | €28,758 | €35,621 | €81,974 | €68,595 | ▼ 16.3% |
| Amounts receivable within one year40/41 | €6,846 | €8,699 | €16,415 | €21,795 | €25,935 | ▲ 19.0% |
| Trade receivables40 | - | €8,699 | €16,415 | €21,795 | €25,775 | ▲ 18.3% |
| Other amounts receivable41 | - | - | - | - | €161 | - |
| Cash at bank and in hand54/58 | €39,312 | €56,917 | €56,390 | €82,499 | €153,319 | ▲ 85.8% |
| Deferred charges and accrued income490/1 | - | - | - | - | €192 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €79,728 | €98,008 | €111,881 | €191,973 | €318,416 | ▲ 65.9% |
| Equity10/15 | €63,791 | €83,313 | €102,538 | €177,832 | €271,925 | ▲ 52.9% |
| Contributions10/11 | €40,000 | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Capital10 | - | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Issued capital100 | - | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Reserves13 | €4,000 | €4,000 | €4,000 | €4,000 | €4,000 | = |
| Non-distributable reserves130/1 | - | €4,000 | €4,000 | €4,000 | €4,000 | = |
| Legal reserve130 | - | €4,000 | €4,000 | €4,000 | €4,000 | = |
| Profit (loss) carried forward14 | €19,791 | €39,313 | €58,538 | €133,832 | €227,925 | ▲ 70.3% |
| Amounts payable17/49 | €15,937 | €14,695 | €9,343 | €14,141 | €46,491 | ▲ 229% |
| Amounts payable within one year42/48 | €15,937 | €14,695 | €9,343 | €14,141 | €46,415 | ▲ 228% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €22,127 | - |
| Trade debts44 | €6,977 | €2,738 | €6,774 | €7,862 | €13,857 | ▲ 76.3% |
| Suppliers440/4 | - | €2,738 | €6,774 | €7,862 | €13,857 | ▲ 76.3% |
| Taxes, remuneration and social security45 | - | €11,423 | €2,569 | €5,296 | €6,895 | ▲ 30.2% |
| Taxes450/3 | - | €7,990 | €1,431 | €2,626 | €2,500 | ▼ 4.8% |
| Remuneration and social security454/9 | - | €3,433 | €1,138 | €2,671 | €4,395 | ▲ 64.6% |
| Other amounts payable47/48 | - | €534 | - | €983 | €3,537 | ▲ 260% |
| Accrued charges and deferred income492/3 | - | - | - | - | €75 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,421 | €19,522 | €19,225 | €75,294 | €94,093 | ▲ 25.0% |
| + Depreciation and write-downs630 | €323 | €960 | €1,123 | €1,152 | €10,805 | ▲ 838% |
| Operating cash flow (approximation) | €15,744 | €20,482 | €20,348 | €76,446 | €104,898 | ▲ 37.2% |
| Investment in fixed assets (approximation) | - | -€1,386 | -€943 | -€3,402 | -€75,473 | ▼ 2,119% |
| Change in cash | - | €17,604 | -€526 | €26,109 | €70,820 | ▲ 171% |
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
22-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2019net €94,093 ▲25%
Operating result €135,067, net result €94,093, both a record.
31-12
Financial
Equity above €200,000Eq €271,925 ▲52.9%
6 profitable years in a row build equity to €271,925.
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150,000Eq €177,832 ▲73.4%
5 profitable years in a row build equity to €177,832.
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €100,000Eq €102,538 ▲23.1%
4 profitable years in a row build equity to €102,538.
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Ukkel · 1 establishment unit since 2018
Ground area
273 m²
Building footprint
95 m²
Volume, LiDAR
1,130 m³
Parcel 21614E0050/00X007, Brussels · tallest building 15.5 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
IRO
since 20182.277.407.867
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21614E0050/00X007 | Brussels | 273 m² | 1 · 95 m² | 15.5 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteUkkel2.277.407.867
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Of 404 companies in sector 46370 we hold annual accounts for 210. 154 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
Founded10-07-2018
Fiscal year end31-12
Activities, NACEBEL 2025
46370Wholesale trade
46190Agents in non-specialised wholesale trade
46494Wholesale of non-electrical household articles
47120Other non-specialised retail sale
E-invoicing
Reachable via Peppol
Peppol ID
0208:0699796008
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.