Skip to content

ISPAHAN

Active
Public limited companyfounded 199927 yrs activeSint-Sebastiaanslaan(Kor) 52, 8500 Kortrijk, BelgiumKBO/BCE: BE 0466.426.973
Summary

ISPAHAN has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €17.1m and a net result of -€4,057. Equity remains stable across the filed fiscal years (±0% per year). The computed 12-month bankruptcy probability is 0.7% (low).

Checked score

Score 2024
Axes · tick = 2023
Profitability37=
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,100,000 at 30 days acceptable
Liquidity short (current ratio 0.07 against 0.19 in 2023; short-term debt: 0% and cash: 0% of total assets), and 0% of the assets are financed with debt.
Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
lowers risk · 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
highest failure risk from 2 to 8 years 27 years 0 30 y
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
lowers risk · 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
100%
Return on assets
0%
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 01-07-2025, 30 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2024
30 d early
2023
44 d early
2022
42 d early
2021
41 d early
2020
45 d early
2019
45 d early
2018
45 d early
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 42 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (1)
neutral · 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

History

ISPAHAN was incorporated on 2 July 1999.1 Total assets went from EUR 17 million in 2019 to EUR 17 million in 2024.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2019 and 2024

Go further with this company

Is this your company? See how customers and banks see it.

Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2024, abbreviated schema

Equity
€17.1m=
2023 · €17.1m
Total assets
€17.1m=
2023 · €17.1m
Net result
-€4,057▼ 189%
2023 · -€1,403
Working capital
-€6,626▼ 158%
2023 · -€2,569
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20202021202220232024
Operating result-€1,049▼ 0.4%-€1,271▼ 21.2%-€1,597▼ 25.6%-€1,363▲ 14.7%-€3,624▼ 166%
Net result-€1,066▼ 0.6%-€1,292▼ 21.2%-€1,621▼ 25.5%-€1,403▲ 13.5%-€4,057▼ 189%
Equity€17.1m=€17.1m=€17.1m=€17.1m=€17.1m=
Total assets€17.1m=€17.1m=€17.1m=€17.1m=€17.1m=
Debt€1,940▲ 101%€1,940=€2,066▲ 6.5%€3,177▲ 53.8%€7,150▲ 125%
Working capital€1,747▼ 37.9%€455▼ 74.0%-€1,166-€2,569▼ 120%-€6,626▼ 158%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
-€6,000-€4,000-€2,000€0Operating result 2020: -€1,049-€1,049Net result 2020: -€1,066-€1,066Operating result 2021: -€1,271-€1,271Net result 2021: -€1,292-€1,292Operating result 2022: -€1,597-€1,597Net result 2022: -€1,621-€1,621Operating result 2023: -€1,363-€1,363Net result 2023: -€1,403-€1,403Operating result 2024: -€3,624-€3,624Net result 2024: -€4,057-€4,05720202021202220232024-€6,000-€4,000-€2,000€0Operating result 2022: -€1,597-€1,600Net result 2022: -€1,621-€1,620Operating result 2023: -€1,363-€1,360Net result 2023: -€1,403-€1,400Operating result 2024: -€3,624-€3,620Net result 2024: -€4,057-€4,060202220232024
The operating result stays negative: a loss of €3,624 in 2024 against €1,363 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €17.1m
Fixed assets €17.1m =
Current assets €524 ▼ 13.9%
Equity and liabilities €17.1m
Equity €17.1m =
Debt €7,150 ▲ 125%
Debt's share of the balance-sheet total stays at 0.0%.
Key figures and ratios
2024 value · change against 2023
Current ratio
0.07▼
2023 · 0.19
Debt to equity
0.00▲
2023 · 0.00
ROE
0.0%▼
2023 · 0.0%
ROA
0.0%▼
2023 · 0.0%
Debt ≤ 1 year
€7,150▲
2023 · €3,177
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 31 lines
Balance sheet Code20232024
Assets
Total assets20/58€17.1m€17.1m=
Fixed assets21/28€17.1m€17.1m=
Financial fixed assets28€17.1m€17.1m=
Current assets29/58€608€524▼
Amounts receivable within one year40/41€175-
Other amounts receivable41€175-
Cash at bank and in hand54/58€433€524▲
Equity and liabilities
Total equity and liabilities10/49€17.1m€17.1m=
Equity10/15€17.1m€17.1m=
Contributions10/11€17.1m€17.1m=
Capital10€17.1m€17.1m=
Issued capital100€17.1m€17.1m=
Reserves13€5,382€5,382=
Non-distributable reserves130/1€5,382€5,382=
Legal reserve130€5,382€5,382=
Profit (loss) carried forward14-€5,397-€9,454▼
Amounts payable17/49€3,177€7,150▲
Amounts payable within one year42/48€3,177€7,150▲
Trade debts44€1,075-
Suppliers440/4€1,075-
Other amounts payable47/48€2,102€7,150▲
Income statement Code20232024
Other operating charges640/8€1,075€1,094▲
Gross operating margin9900-€288-€2,531▼
Operating profit (loss)9901-€1,363-€3,624▼
Financial charges65/66B€40€433▲
Recurring financial charges65€40€433▲
Profit (loss) for the period before taxes9903-€1,403-€4,057▼
Profit (loss) for the period9904-€1,403-€4,057▼
Profit (loss) for the period to be appropriated9905-€1,403-€4,057▼
Appropriation of the result
Profit (loss) to be appropriated9906-€5,397-€9,454▼
Profit (loss) brought forward from the previous period14P-€3,995-€5,397▼

The notes to these accounts (1 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Other operating charges640/8--€993€1,075€1,094▲ 1.7%
Gross operating margin9900-€72-€294-€604-€288-€2,531▼ 780%
Operating profit (loss)9901-€1,049-€1,271-€1,597-€1,363-€3,624▼ 166%
Financial charges65/66B--€24€40€433▲ 988%
Recurring financial charges65€17€21€24€40€433▲ 988%
Profit (loss) for the period before taxes9903-€1,066-€1,292-€1,621-€1,403-€4,057▼ 189%
Profit (loss) for the period9904-€1,066-€1,292-€1,621-€1,403-€4,057▼ 189%
Profit (loss) for the period to be appropriated9905-€1,066-€1,292-€1,621-€1,403-€4,057▼ 189%
Line20202021202220232024Change
Assets
Total assets20/58€17.1m€17.1m€17.1m€17.1m€17.1m=
Fixed assets21/28€17.1m€17.1m€17.1m€17.1m€17.1m=
Financial fixed assets28€17.1m€17.1m€17.1m€17.1m€17.1m=
Current assets29/58€3,687€2,395€900€608€524▼ 13.9%
Amounts receivable within one year40/41---€175--
Other amounts receivable41---€175--
Cash at bank and in hand54/58€3,687€2,395€900€433€524▲ 21.0%
Equity and liabilities
Total equity and liabilities10/49€17.1m€17.1m€17.1m€17.1m€17.1m=
Equity10/15€17.1m€17.1m€17.1m€17.1m€17.1m=
Contributions10/11€17.1m€17.1m€17.1m€17.1m€17.1m=
Capital10--€17.1m€17.1m€17.1m=
Issued capital100--€17.1m€17.1m€17.1m=
Reserves13€5,382€5,382€5,382€5,382€5,382=
Non-distributable reserves130/1--€5,382€5,382€5,382=
Legal reserve130--€5,382€5,382€5,382=
Profit (loss) carried forward14-€1,082-€2,374-€3,995-€5,397-€9,454▼ 75.2%
Amounts payable17/49€1,940€1,940€2,066€3,177€7,150▲ 125%
Amounts payable within one year42/48€1,940€1,940€2,066€3,177€7,150▲ 125%
Trade debts44€1,940€1,940€980€1,075--
Suppliers440/4--€980€1,075--
Other amounts payable47/48--€1,086€2,102€7,150▲ 240%
Line20202021202220232024Change
Profit (loss) for the period9904-€1,066-€1,292-€1,621-€1,403-€4,057▼ 189%
Operating cash flow (approximation)-€1,066-€1,292-€1,621-€1,403-€4,057▼ 189%
Investment in fixed assets (approximation)-€0€0-€0€0▲ 100%
Change in cash--€1,292-€1,495-€467€91▲ 119%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

2025
01-07
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial Weakest financial yearnet -€4,057
Net result drops to -€4,057, the lowest in the series.
2023
18-12
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
20-12
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
21-12
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
17-12
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
17-12
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
17-12
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
19-12
NBB filing Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
08-12
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema
2015
16-12
NBB filing Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts

We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
7 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, Kortrijk · 1 establishment unit since 1999
seat establishment The establishment unit on the map
Ground area
2,320 m²
Building footprint
699 m²
Volume, LiDAR
8,074 m³
2 parcels, Flanders · tallest building 25.2 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
ISPAHAN
Desselgemsestraat(O) 15, 8710 WielsbekeInsurance, reinsurance and pension funding, except compulsory social security
since 19992.092.673.842
2 parcels
Flanders 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
34022E0084/00A002 Flanders 1,847 m² 1 · 227 m² 10.3 m · 2 fl.
37009B0052/00A000
ProtectedCultural-historical landscape · MonumentKasteeldomein van OoigemSource ↗
Flanders 473 m² 1 · 473 m² 25.2 m · 5 fl.
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 holding

Owners 0

The accounts to 31-12-2024 list no shareholders, and no other source names one.

Holdings 1

According to the 2024 annual accounts of ISPAHAN 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.

Identification & contact

Identification
Legal formPublic limited company
Founded02-07-1999
Fiscal year end31-12
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

What can you do?

Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.

If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance

If you follow this company, Checked tells you the day it appears in the Peppol register.

Register as of 29 September 2026 · Peppol Directory

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