Equity
-€20,510
Debts exceed assets in financial year 2025.
ISIRO RE
Lifetime
20 annual accounts with figures on one time axis, 29 filings since 1997peak €148,683 (2009)
€57,510▲ 207%
lowest -€108,035 (2020)
-€3,393▲ €7,219
peak €432,241 (2017)
-€20,510▼ €3,393
€829,802▼ 3.6%
peak 1.3 FTE (2008)
-not published
Board5 names since 2018
1 directorISIRO APM
Owners2 names in the annual accounts
100%ISIRO APM
Documentsfilings and deeds
15-09-202646 days late
2025micro format
Gross margin from €18,753 to €57,510Loss of €3,393Equity from -€17,117 to -€20,5101 establishment registeredCash from €2,241 to €5,060
Key points
from the 2025 annual accountsLosses
-€160,057 in six years
Every financial year from 2020 to 2025 closed with a loss. 2020 was the heaviest.
Turnover
≈ €74,000 estimated
The micro format states no turnover.
Debts
€829,802 103% of the balance sheet
Financial debts 71%Suppliers 0%Other 29%
Of this, €240,774 falls due within a year.
Filings
29 annual accounts since 1997
Eight of the last ten came late. The 2018 accounts came latest: 91 days after the end of the period.
Position in the sector
-€20,510
Less equity than 85% of companies in real estate. Sector median €73,055 · 17,210 companies.
Checked score
54
Fair
Financially stronger than 26% of micro companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.0%
01-2025: 1.0%● unchanged vs 12-2024
02-2025: 1.0%● unchanged vs 01-2025
03-2025: 1.0%● unchanged vs 02-2025
04-2025: 1.0%● unchanged vs 03-2025
05-2025: 1.2%▲ +0.2 percentage points vs 04-2025
06-2025: 0.7%▼ -0.5 percentage points vs 05-2025
07-2025: 0.8%▲ +0.1 percentage points vs 06-2025
08-2025: 1.0%▲ +0.2 percentage points vs 07-2025
09-2025: 1.1%▲ +0.1 percentage points vs 08-2025
10-2025: 1.7%▲ +0.6 percentage points vs 09-2025
11-2025: 1.7%● unchanged vs 10-2025
12-2025: 1.7%● unchanged vs 11-2025
01-2026: 1.7%● unchanged vs 12-2025
02-2026: 1.7%● unchanged vs 01-2026
03-2026: 1.7%● unchanged vs 02-2026
04-2026: 1.7%● unchanged vs 03-2026
05-2026: 1.8%▲ +0.1 percentage points vs 04-2026
06-2026: 1.7%▼ -0.1 percentage points vs 05-2026
07-2026: 1.7%● unchanged vs 06-2026
08-2026: 2.2%▲ +0.5 percentage points vs 07-2026
09-2026: 2.6%▲ +0.4 percentage points vs 08-2026highest value
10-2026: 0.6%▼ -2.0 percentage points vs 09-2026lowest value
11-2026: 0.6%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Last filed accounts filed 46 days late; 2 of the last 3 accounts late
Negative equity -€20,510
Liquidity: current ratio 0.05, cash €5,060
lowers risk
Size: total assets €809,292
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 17% of them on solvency, 31% on liquidity, 33% on profitability and 21% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,242 companies had the same profile as ISIRO RE has now. Each dot stands for 4 companies, two years later.
92.8%
were still trading
4.0%
stopped another way
1.9%
went bankrupt
Another 1.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ISIRO RE itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,242 companies, not a prediction for ISIRO RE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.05 (0.07 in 2024), below 1. Short-term debt is 29.8% and cash 0.6% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€20,510
raises risk · 2025 accounts filed 46 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-09-2026, 46 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
46 days late
2024
31 days late
2023
28 days late
2022
27 days early
2021
52 days early
2020
26 days late
2019
91 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 20 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 August (4 of the last 5 accounts filed within 56 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- ISIRO 100%score 90equity €111,391 (2025) · 2021 annual accounts of ISIRO
- ISIRO APM 100%score 90equity €380,073 (2025) · 2025 annual accounts of ISIRO APM
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0459805833
First establishment
Rue Dartois 27, Liège
Registered office moved within Liège
New registered office: Rue Dartois 27 à 4000 Liège · Previous registered office: Rue Pont d'Avroy 19, 4000 Liège · Registered office clause: Rue Pont d'Avroy 19 4000 Liège · General meeting of 31-08-2024 · Gazette deed
Comparable companies
same main activity, similar in size and ageThese companies have the same main activity as ISIRO RE: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €739,000 and €944,000, founded between 1994 and 1999.
Official details
Source: KBO- Status
- Active since 24-01-1997Normal situation
- Registered office
- 12 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 10 November 2026.
- Activity
- Renting and operating of own or leased non-residential real estate, excluding landNACE 68203
- Establishment unit
- 2.374.907.8144000 Liège, since 15-05-2025
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Insights on ISIRO RE
ISIRO RE files the micro format. That format states no turnover. The gross margin fell from €121,082 in 2006 to €57,510 in 2025.
ISIRO holds all the shares. In June 2022, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ISIRO RE
- What is the company number of ISIRO RE?
- The company number of ISIRO RE is 0459.805.833. The VAT number is the same number with BE in front: BE 0459.805.833.
- Where is ISIRO RE based?
- The registered office is at Rue Dartois 27, 4000 Liège.Company details
- What does ISIRO RE do?
- According to the KBO register, the main activity is renting and operating of own or leased non-residential real estate, excluding land (NACE 68203).
- What is the legal form of ISIRO RE?
- ISIRO RE is a private limited company (BV).
- When was ISIRO RE founded?
- ISIRO RE was founded on 24-01-1997.
- Is ISIRO RE still active?
- Yes, ISIRO RE is an active enterprise in the KBO register.
- What is the turnover of ISIRO RE?
- The turnover in financial year 2025 is ≈ €74,000. This figure is estimated from the gross margin of €57,510 and 45 comparable companies (NACE 682). It probably lies between €64,000 and €95,000.Financials
- Is ISIRO RE profitable?
- In financial year 2025, ISIRO RE made a loss of €3,393.
- Where can I find the annual accounts of ISIRO RE?
- ISIRO RE filed 29 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ISIRO RE due?
- ISIRO RE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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