ISHAN
ActiveSummary
ISHAN has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €30,442 and a net result of €3,840. Equity is growing by ~9.7% per year across the filed fiscal years. Its solvency ranks better than 90% of 26043 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability82▲+26
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity ample (current ratio 6.05 against 3.93 in 2023; short-term debt: 16.3% and cash: 37.6% of total assets), and 16.3% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
83.7%
Return on assets
10.6%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-06-2026, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
38 d early
2024
27 d early
2023
20 d early
2022
62 d early
2021
54 d early
2020
26 d late
2019
31 d early
← 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 29 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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 23 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, micro schema
Equity
€30,442▲ 14.4%
2023 · €26,602
Total assets
€36,376▲ 2.9%
2023 · €35,356
Net result
€3,840▲ 659%
2023 · €506
Working capital
€29,959▲ 16.9%
2023 · €25,635
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail 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€5,537▼ 24.3%€1,488▼ 73.1%€2,192▲ 47.3%€809▼ 63.1%€4,843▲ 498%
Net result€4,923within the sector's middle half▼ 9.5%€637within the sector's middle half▼ 87.1%€1,813within the sector's middle half▲ 185%€506within the sector's middle half▼ 72.1%€3,840within the sector's middle half▲ 659%
Equity€23,646within the sector's middle half▲ 26.3%€24,283within the sector's middle half▲ 2.7%€26,096within the sector's middle half▲ 7.5%€26,602within the sector's middle half▲ 1.9%€30,442within the sector's middle half▲ 14.4%
Total assets€28,101below the sector's middle half▲ 17.2%€25,400below the sector's middle half▼ 9.6%€30,441below the sector's middle half▲ 19.8%€35,356below the sector's middle half▲ 16.1%€36,376below the sector's middle half▲ 2.9%
Debt€4,455▼ 15.2%€1,117▼ 74.9%€4,345▲ 289%€8,754▲ 101%€5,933▼ 32.2%
Working capital€21,203within the sector's middle half▲ 30.3%€22,349within the sector's middle half▲ 5.4%€24,645within the sector's middle half▲ 10.3%€25,635within the sector's middle half▲ 4.0%€29,959within the sector's middle half▲ 16.9%
Solvency84.1%above the sector's middle half▲ 6.1pp95.6%above the sector's middle half▲ 11.5pp85.7%above the sector's middle half▼ 9.9pp75.2%above the sector's middle half▼ 10.5pp83.7%above the sector's middle half▲ 8.4pp
Current ratio5.76above the sector's middle half▲ 1.6621.00above the sector's middle half▲ 15.246.67above the sector's middle half▼ 14.333.93above the sector's middle half▼ 2.746.05above the sector's middle half▲ 2.12
Return on assets (ROA)17.5%above the sector's middle half▼ 5.2pp2.5%within the sector's middle half▼ 15.0pp6.0%within the sector's middle half▲ 3.4pp1.4%within the sector's middle half▼ 4.5pp10.6%within the sector's middle half▲ 9.1pp
Staff (FTE)10.1▼ 90.0%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail 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
The operating result recovers in 2024; 2024 is 498% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €36,376
Fixed assets
€484 ▼ 50.0%
Current assets
€35,892 ▲ 4.4%
Equity and liabilities €36,376
Equity
€30,442 ▲ 14.4%
Debt
€5,933 ▼ 32.2%
Debt's share of the balance-sheet total falls from 24.8% to 16.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€5,327▲
2023 · €1,293
Cash flow
€4,324▲
2023 · €990
Quick ratio
4.55▲
2023 · 1.41
Debt to equity
0.19▼
2023 · 0.33
ROE
12.6%▲
2023 · 1.9%
Interest coverage
15.64▲
2023 · 4.22
Debt ≤ 1 year
€5,933▼
2023 · €8,754
Income taxes
€1,107
Staff costs
€2,259▼
2023 · €13,896
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 31,370 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €19,176 | €13,896 | €2,259 | ▼ 83.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €508 | €509 | €484 | €484 | €484 | = |
| Other operating charges640/8 | - | €4,896 | €195 | €767 | €1,137 | ▲ 48.3% |
| Gross operating margin9900 | €9,006 | €6,893 | €22,046 | €15,956 | €8,724 | ▼ 45.3% |
| Operating profit (loss)9901 | €5,537 | €1,488 | €2,192 | €809 | €4,843 | ▲ 498% |
| Financial income75/76B | - | €2 | €0 | €3 | €445 | ▲ 12,682% |
| Recurring financial income75 | - | €2 | €0 | €3 | €445 | ▲ 12,682% |
| Financial charges65/66B | - | €854 | €379 | €307 | €341 | ▲ 11.0% |
| Recurring financial charges65 | €574 | €854 | €379 | €307 | €341 | ▲ 11.0% |
| Profit (loss) for the period before taxes9903 | €4,963 | €637 | €1,813 | €506 | €4,948 | ▲ 877% |
| Income taxes67/77 | €40 | - | - | - | €1,107 | - |
| Profit (loss) for the period9904 | €4,923 | €637 | €1,813 | €506 | €3,840 | ▲ 659% |
| Profit (loss) for the period to be appropriated9905 | €4,923 | €637 | €1,813 | €506 | €3,840 | ▲ 659% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €28,101 | €25,400 | €30,441 | €35,356 | €36,376 | ▲ 2.9% |
| Fixed assets21/28 | €2,443 | €1,934 | €1,451 | €967 | €484 | ▼ 50.0% |
| Tangible fixed assets22/27 | €2,443 | €1,934 | €1,451 | €967 | €484 | ▼ 50.0% |
| Plant, machinery and equipment23 | - | €1,934 | €1,451 | €967 | €484 | ▼ 50.0% |
| Current assets29/58 | €25,658 | €23,466 | €28,990 | €34,389 | €35,892 | ▲ 4.4% |
| Stocks and contracts in progress3 | €21,050 | €21,300 | €21,039 | €22,041 | €8,887 | ▼ 59.7% |
| Stocks30/36 | - | €21,300 | €21,039 | €22,041 | €8,887 | ▼ 59.7% |
| Amounts receivable within one year40/41 | - | - | - | €1,250 | €13,345 | ▲ 968% |
| Trade receivables40 | - | - | - | €1,250 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | - | €13,345 | - |
| Cash at bank and in hand54/58 | €4,608 | €2,166 | €7,952 | €11,098 | €13,660 | ▲ 23.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €28,101 | €25,400 | €30,441 | €35,356 | €36,376 | ▲ 2.9% |
| Equity10/15 | €23,646 | €24,283 | €26,096 | €26,602 | €30,442 | ▲ 14.4% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €5,683 | €7,496 | €8,002 | €11,842 | ▲ 48.0% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €3,823 | €5,636 | €6,142 | €9,982 | ▲ 62.5% |
| Profit (loss) carried forward14 | €3,186 | - | - | - | - | - |
| Amounts payable17/49 | €4,455 | €1,117 | €4,345 | €8,754 | €5,933 | ▼ 32.2% |
| Amounts payable within one year42/48 | €4,455 | €1,117 | €4,345 | €8,754 | €5,933 | ▼ 32.2% |
| Financial debts43 | - | - | - | - | €620 | - |
| Credit institutions430/8 | - | - | - | - | €620 | - |
| Trade debts44 | €1,823 | €678 | €1,316 | €6,593 | €195 | ▼ 97.0% |
| Suppliers440/4 | - | €678 | €1,316 | €6,593 | €195 | ▼ 97.0% |
| Taxes, remuneration and social security45 | - | - | €3,029 | €2,160 | €5,119 | ▲ 137% |
| Taxes450/3 | - | - | €354 | €153 | €5,119 | ▲ 3,255% |
| Remuneration and social security454/9 | - | - | €2,675 | €2,008 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €439 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,923 | €637 | €1,813 | €506 | €3,840 | ▲ 659% |
| + Depreciation and write-downs630 | €508 | €509 | €484 | €484 | €484 | = |
| Operating cash flow (approximation) | €5,431 | €1,145 | €2,296 | €990 | €4,324 | ▲ 337% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€2,442 | €5,786 | €3,146 | €2,562 | ▼ 18.6% |
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
23-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
07-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity quadruplescurrent ratio 21.00
Current ratio from 5.76 to 21.00; short-term debt falls from €4,455 to €1,117.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €5,437 ▲13,161%
Operating result €7,318, net result €5,437, both a record.
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
17-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
18-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro 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, Antwerpen · 1 establishment unit since 2006
Ground area
75 m²
Building footprint
92 m²
Volume, LiDAR
585 m³
Parcel 11805E0486/00Z004, Flanders · tallest building 15.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ISHAN
since 20062.155.500.742
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11805E0486/00Z004 | Flanders | 75 m² | 1 · 92 m² | 15.4 m · 2 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 siteAntwerpen2.155.500.742
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Of 10,509 companies in sector 47110 we hold annual accounts for 5,853. 4,436 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
Founded06-07-2006
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0882343177
Also
9925:BE0882343177
Registered
29-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.