Summary
IRREALIS is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €22.7m and a net result of -€2.6m. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 25% of 2473 sector peers (fiscal year 2025). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 9 filingsDeviation from the deadline
2025
31 d late
2024
70 d late
2023
30 d late
2022
53 d late
2021
30 d late
2020
29 d late
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 35 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 31 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#3 company by total assets in Sint-Truiden, Finance and insurance sector#6 company by equity in Sint-Truiden, Finance and insurance sector
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€22.7m▼ 10.1%
2024 · €25.2m
Net result
-€2.6m▼ 10.1%
2024 · -€2.3m
Total assets
€73.8m▲ 11.9%
2024 · €65.9m
Solvency
30.7%▼ 7.5pp
2024 · 38.3%
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€371,000€55,094▼ 85.1%€82,262▲ 49.3%€51,199
Operating result€115,331-€177,447-€389,578▼ 120%-€400,222▼ 2.7%-€261,867▲ 34.6%
Net result€652below the sector's middle half▼ 100.0%€141,540within the sector's middle half▲ 21,601%-€1.5mbelow the sector's middle half-€2.3mbelow the sector's middle half▼ 53.2%-€2.6mbelow the sector's middle half▼ 10.1%
Equity€28.9mabove the sector's middle half▼ 0.6%€29.1mabove the sector's middle half▲ 0.5%€27.6mabove the sector's middle half▼ 5.2%€25.2mabove the sector's middle half▼ 8.4%€22.7mabove the sector's middle half▼ 10.1%
Total assets€44.1mabove the sector's middle half▲ 6.8%€57.6mabove the sector's middle half▲ 30.5%€61.4mabove the sector's middle half▲ 6.6%€65.9mabove the sector's middle half▲ 7.4%€73.8mabove the sector's middle half▲ 11.9%
Debt€15.2m▲ 22.7%€28.5m▲ 87.7%€33.8m▲ 18.6%€40.7m▲ 20.3%€51.1m▲ 25.5%
Working capital€973,267within the sector's middle half€8.0mabove the sector's middle half▲ 720%€7.7mabove the sector's middle half▼ 3.1%€15.1mabove the sector's middle half▲ 95.3%€24.4mabove the sector's middle half▲ 61.3%
Solvency65.6%within the sector's middle half▼ 4.9pp50.5%within the sector's middle half▼ 15.1pp44.9%within the sector's middle half▼ 5.6pp38.3%within the sector's middle half▼ 6.6pp30.7%below the sector's middle half▼ 7.5pp
Current ratio1.11within the sector's middle half▲ 0.211.52within the sector's middle half▲ 0.421.45within the sector's middle half▼ 0.082.23within the sector's middle half▲ 0.783.27above the sector's middle half▲ 1.04
Return on assets (ROA)0.0%below the sector's middle half▼ 5.3pp0.2%within the sector's middle half▲ 0.2pp-2.5%below the sector's middle half▼ 2.7pp-3.5%below the sector's middle half▼ 1.1pp-3.5%below the sector's middle half▲ 0.1pp
Staff (FTE)2.8within the sector's middle half=2.8within the sector's middle half=2.8within the sector's middle half=2.8above the sector's middle half=2.8within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2024 Net result -53% on 2023. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €261,867 in 2025 against €400,222 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €73.8m
Fixed assets
€38.6m ▲ 0.2%
Current assets
€35.1m ▲ 28.3%
Equity and liabilities €73.8m
Equity
€22.7m ▼ 10.1%
Debt
€51.1m ▲ 25.5%
Debt's share of the balance-sheet total rises from 61.7% to 69.3%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-11.3%▼
2024 · -9.2%
Debt ≤ 1 year
€10.7m▼
2024 · €12.3m
Debt > 1 year
€40.4m▲
2024 · €28.2m
Income taxes
€215,753▲
2024 · €21,048
Staff costs
€217,630▼
2024 · €246,508
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €377,446 | €61,641 | €91,962 | - | €60,585 | - |
| Turnover70 | €371,000 | €55,094 | €82,262 | - | €51,199 | - |
| Other operating income74 | €6,446 | €6,547 | €9,700 | - | €9,386 | - |
| Operating charges60/66A | €262,115 | €239,088 | €481,540 | - | €322,452 | - |
| Goods for resale, raw materials and consumables60 | - | €3,619 | €0 | - | €0 | - |
| Purchases600/8 | - | €3,619 | €0 | - | €0 | - |
| Services and other goods61 | €84,937 | €55,200 | €81,420 | - | €67,856 | - |
| Remuneration, social security and pensions62 | €173,623 | €177,276 | €239,615 | €246,508 | €217,630 | ▼ 11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,422 | €2,657 | €35,371 | €35,138 | €35,180 | ▲ 0.1% |
| Other operating charges640/8 | €2,133 | €337 | €125,134 | €298 | €1,786 | ▲ 499% |
| Gross operating margin9900 | - | - | - | -€118,279 | - | - |
| Operating profit (loss)9901 | €115,331 | -€177,447 | -€389,578 | -€400,222 | -€261,867 | ▲ 34.6% |
| Financial income75/76B | €17,092 | €706,000 | €238,301 | €26,354 | €0 | ▼ 100% |
| Recurring financial income75 | €17,092 | €706,000 | €238,301 | €26,354 | €0 | ▼ 100% |
| Income from current assets751 | €17,092 | €6,000 | €6,000 | - | €0 | - |
| Other financial income752/9 | - | €700,000 | €232,301 | - | - | - |
| Financial charges65/66B | €131,203 | €386,451 | €1.4m | €1.9m | €2.1m | ▲ 7.8% |
| Recurring financial charges65 | €131,203 | €386,451 | €1.4m | €1.9m | €2.1m | ▲ 7.9% |
| Debt charges650 | €128,329 | €384,075 | €1.3m | - | €2.1m | - |
| Other financial charges652/9 | €2,874 | €2,376 | €106,199 | - | €2,343 | - |
| Non-recurring financial charges66B | - | - | - | €665 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €1,220 | €142,102 | -€1.5m | -€2.3m | -€2.3m | ▼ 1.7% |
| Income taxes67/77 | €568 | €562 | €9,405 | €21,048 | €215,753 | ▲ 925% |
| Taxes670/3 | €568 | €562 | €9,405 | - | €215,753 | - |
| Profit (loss) for the period9904 | €652 | €141,540 | -€1.5m | -€2.3m | -€2.6m | ▼ 10.1% |
| Profit (loss) for the period to be appropriated9905 | €652 | €141,540 | -€1.5m | -€2.3m | -€2.6m | ▼ 10.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €44.1m | €57.6m | €61.4m | €65.9m | €73.8m | ▲ 11.9% |
| Fixed assets21/28 | €33.9m | €34.4m | €36.4m | €38.6m | €38.6m | ▲ 0.2% |
| Tangible fixed assets22/27 | €1,007 | €117,676 | €94,710 | €66,160 | €31,807 | ▼ 51.9% |
| Furniture and vehicles24 | €1,007 | €117,676 | €94,710 | €66,160 | €31,807 | ▼ 51.9% |
| Financial fixed assets28 | €33.9m | €34.3m | €36.3m | €38.5m | €38.6m | ▲ 0.3% |
| Affiliated companies280/1 | €33.9m | €34.3m | €36.1m | - | €36.3m | - |
| Participating interests280 | €33.9m | €34.3m | €36.1m | - | €36.3m | - |
| Other financial fixed assets284/8 | - | €5,550 | €205,550 | - | €2.3m | - |
| Amounts receivable and cash guarantees285/8 | - | €5,550 | €205,550 | - | €2.3m | - |
| Current assets29/58 | €10.2m | €23.2m | €24.9m | €27.4m | €35.1m | ▲ 28.3% |
| Amounts receivable after more than one year29 | €6.8m | €6.9m | €6.9m | €6.9m | €6.9m | = |
| Other amounts receivable291 | €6.8m | €6.9m | €6.9m | €6.9m | €6.9m | = |
| Stocks and contracts in progress3 | - | - | €0 | - | €0 | - |
| Amounts receivable within one year40/41 | €3.4m | €16.3m | €18.0m | €20.5m | €28.2m | ▲ 37.8% |
| Trade receivables40 | €167,173 | €84,179 | €31,063 | €45,364 | €43,934 | ▼ 3.2% |
| Other amounts receivable41 | €3.2m | €16.2m | €18.0m | €20.4m | €28.2m | ▲ 37.9% |
| Cash at bank and in hand54/58 | €26,963 | €39,234 | €14,208 | €7,618 | €7,566 | ▼ 0.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €44.1m | €57.6m | €61.4m | €65.9m | €73.8m | ▲ 11.9% |
| Equity10/15 | €28.9m | €29.1m | €27.6m | €25.2m | €22.7m | ▼ 10.1% |
| Contributions10/11 | €26.9m | €26.9m | €26.9m | €26.9m | €26.9m | = |
| Reserves13 | €2.0m | €2.2m | €656,757 | €656,757 | €656,757 | = |
| Non-distributable reserves130/1 | €110,560 | €110,560 | €110,560 | €110,560 | €110,560 | = |
| Reserves not available under the articles1311 | - | - | €110,560 | €110,560 | €110,560 | = |
| Other1319 | €110,560 | €110,560 | - | - | - | - |
| Distributable reserves133 | €1.9m | €2.1m | €546,197 | €546,197 | €546,197 | = |
| Profit (loss) carried forward14 | - | - | - | -€2.3m | -€4.9m | ▼ 110% |
| Amounts payable17/49 | €15.2m | €28.5m | €33.8m | €40.7m | €51.1m | ▲ 25.5% |
| Amounts payable after more than one year17 | €5.9m | €13.3m | €16.6m | €28.2m | €40.4m | ▲ 43.0% |
| Financial debts170/4 | €5.9m | €13.3m | €16.6m | €28.2m | €40.4m | ▲ 43.0% |
| Subordinated loans170 | €5.9m | €13.2m | - | - | €40.4m | - |
| Credit institutions173 | - | €150,000 | €16.6m | - | €0 | - |
| Amounts payable within one year42/48 | €9.2m | €15.2m | €17.2m | €12.3m | €10.7m | ▼ 12.4% |
| Current portion of amounts payable after more than one year42 | - | - | €49,974 | €51,982 | €0 | ▼ 100% |
| Financial debts43 | €2.5m | €4.0m | €3.5m | €2.0m | €2.0m | = |
| Credit institutions430/8 | €2.5m | €4.0m | €3.5m | €2.0m | €2.0m | = |
| Trade debts44 | €31,727 | €103,693 | €172,479 | €237,270 | €352,270 | ▲ 48.5% |
| Suppliers440/4 | €31,727 | €103,693 | €172,479 | €237,270 | €352,270 | ▲ 48.5% |
| Taxes, remuneration and social security45 | €55,306 | €20,248 | €27,192 | €37,803 | €26,353 | ▼ 30.3% |
| Taxes450/3 | €36,504 | €568 | €390 | €840 | €0 | ▼ 100% |
| Remuneration and social security454/9 | €18,801 | €19,680 | €26,802 | €36,963 | €26,353 | ▼ 28.7% |
| Other amounts payable47/48 | €6.6m | €11.1m | €13.5m | €9.9m | €8.4m | ▼ 15.8% |
| Accrued charges and deferred income492/3 | €90,740 | - | - | €219,625 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €652 | €141,540 | -€1.5m | -€2.3m | -€2.6m | ▼ 10.1% |
| + Depreciation and write-downs630 | €1,422 | €2,657 | €35,371 | €35,138 | €35,180 | ▲ 0.1% |
| Operating cash flow (approximation) | €2,074 | €144,197 | -€1.5m | -€2.3m | -€2.5m | ▼ 10.2% |
| Investment in fixed assets (approximation) | - | -€485,853 | -€2.1m | -€2.2m | -€124,138 | ▲ 94.3% |
| Change in cash | - | €12,272 | -€25,026 | -€6,590 | -€52 | ▲ 99.2% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
16-06
State Gazette act
Registered officeRegistered-office move3 facts ▸
State Gazette act
Registered office
Registered-office move3 facts ▸
- General meeting, 23-01-2026
- Registered-office move, Plankstraat 13,3800 Sint-Truiden
- Other statement, naam en hoedanigheid, formulierveld handtekeningblok
2025
31-12
Financial
Weakest financial yearnet -€2.6m
Net result drops to -€2.6m, the lowest in the series.
09-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 70 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
22-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 53 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
29-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 29 days late
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
02-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 1 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Sint-Truiden · 1 establishment unit since 2011
Ground area
2,806 m²
Building footprint
529 m²
Volume, LiDAR
1,633 m³
2 parcels, Flanders · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
18
companies at this address
See who is registered here
1 establishment unit
Appelstraat 10, 3800 Sint-Truiden
since 20112.201.889.607
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71353F0114/00E003 | Flanders | 1,532 m² | 1 · 250 m² | 9.9 m · 2 fl. |
| 71053H0384/00K000 | Flanders | 1,274 m² | 1 · 280 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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: expect extra rules on renovation or sale.
Structure & network
Owners and holdings
1 owner · 10 holdings · 6 subsidiaries in the treeChain of control
- RED PANDA
- IRREALIS
Highest known parent: RED PANDA. The sources do not say who stands above it.
Owners 1
- RED PANDAparentSourceaccounts RED PANDA 2025100%
Holdings 10
-
100%
-
100%
-
100%
-
100%
-
100%
-
50%
-
50%
-
50%
-
50%
-
50%
All subsidiaries, including indirect ones 6
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
Gilabonds Belgium 100%1 subsidiary
- GILABONDS USA CORPUS 100%
- Gilen Guy 100%
- GILEN IMMOBILIEN 100%
- Perpetuum Immobile 100%
- TRIVIUM 100%
According to the 2025 annual accounts of IRREALIS and those 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.
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Company details
Identification
Legal formPrivate limited company
Founded04-08-2011
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
73300Public relations and communication consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0838337940
Registered
08-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.