IVACO
ActiveSummary
IVACO has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €843k and a net result of €-44k. Equity remains stable across the filed fiscal years (±1% per year). Its solvency ranks better than 71% of 4539 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
78
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability64▼-4
Solvency91▼-9
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65k at 30 days acceptable
Liquidity short (current ratio 0.55 against 0.41 in 2024; short-term debt: 13.8% and cash: 6.2% of total assets), and 33.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
66.2%
Return on assets
-3.4%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-44k
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
7 d early
2023
6 d early
2022
24 d early
2021
23 d early
2020
24 d early
2019
25 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-44k▼ 432%
2024 · €-8k
2018: €-18k
2019: €-26k
2020: €-19k
2021: €-27k
2022: €-13k
2023: €-5k
2024: €-8k
2018 → 2025
Working capital
€-80k▲ 17.9%
2024 · €-97k
2018: €64k
2019: €49k
2020: €83k
2021: €127k
2022: €152k
2023: €-154k
2024: €-97k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€913k-€900k▼ 1.5%€895k▼ 0.6%€886k▼ 0.9%€843k▼ 4.9%
Operating result€-36k-€-25k▲ 30.4%€-13k▲ 49.9%€-8k▲ 37.0%€-48k▼ 505%
Net result€-27k-€-13k▲ 49.7%€-5k▲ 62.0%€-8k▼ 60.4%€-44k▼ 432%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €48k in 2025 against €8k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.27M
Fixed assets
€1.18M ▲ 5.9%
Current assets
€96k ▲ 42.1%
Equity and liabilities €1.27M
Equity
€843k ▼ 4.9%
Provisions
€58k ▼ 19.2%
Debt
€372k ▲ 69.0%
Debt's share of the balance-sheet total rises from 18.7% to 29.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€105k▼
2024 · €110k
Cash flow
€110k▲
2024 · €110k
Current ratio
0.55▲
2024 · 0.41
Debt to equity
0.44▲
2024 · 0.25
ROE
-5.2%▼
2024 · -0.9%
ROA
-3.4%▼
2024 · -0.7%
Interest coverage
11.53▼
2024 · 34.36
Debt ≤ 1 year
€175k▲
2024 · €165k
Debt > 1 year
€197k▲
2024 · €56k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.18M€1.27M▲
Fixed assets21/28€1.11M€1.18M▲
Tangible fixed assets22/27€1.11M€1.18M▲
Land and buildings22€891k€990k▲
Plant, machinery and equipment23€219k€187k▼
Furniture and vehicles24€2k€1k▼
Current assets29/58€67k€96k▲
Amounts receivable within one year40/41€9k€16k▲
Other amounts receivable41€9k€16k▲
Cash at bank and in hand54/58€58k€79k▲
Equity and liabilities
Total equity and liabilities10/49€1.18M€1.27M▲
Equity10/15€886k€843k▼
Contributions10/11€124k€124k=
Capital10€124k€124k=
Issued capital100€124k€124k=
Reserves13€762k€720k▼
Non-distributable reserves130/1€44k€44k=
Legal reserve130€44k€44k=
Tax-exempt reserves132€217k€175k▼
Distributable reserves133€500k€500k=
Profit (loss) carried forward14€1k€-644▼
Provisions and deferred taxes16€72k€58k▼
Deferred taxes168€72k€58k▼
Amounts payable17/49€220k€372k▲
Amounts payable after more than one year17€56k€197k▲
Financial debts170/4€56k€197k▲
Amounts payable within one year42/48€165k€175k▲
Current portion of amounts payable after more than one year42€29k€40k▲
Trade debts44€400€400=
Suppliers440/4€400€400=
Other amounts payable47/48€135k€135k=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€118k€154k▲
Other operating charges640/8€15k€15k▲
Gross operating margin9900€125k€121k▼
Operating profit (loss)9901€-8k€-48k▼
Financial charges65/66B€3k€9k▲
Recurring financial charges65€3k€9k▲
Profit (loss) for the period before taxes9903€-11k€-58k▼
Transfer from deferred taxes780€14k€14k=
Income taxes67/77€11k-
Profit (loss) for the period9904€-8k€-44k▼
Transfer from tax-exempt reserves789€42k€42k=
Profit (loss) for the period to be appropriated9905€34k€-2k▼
Appropriation of the result
Profit (loss) to be appropriated9906€36k€-644▼
Profit (loss) brought forward from the previous period14P€3k€1k▼
Transfer to equity691/2€35k-
To other reserves6921€35k-
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-44k
Net result drops to €-44k, the lowest in the series.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity times 9current ratio 78.82
Current ratio from 8.47 to 78.82; short-term debt falls from €11k to €2k.
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
06-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Dentergem · 1 establishment unit since 1989
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Oostdreef(Wak) 648720 DentergemGround area
7,259 m²
Building footprint
3,729 m²
Parcel 37016B0825/00P005, Flanders. Linked by address, not a title deed.
1 establishment unit
NV IVACO
since 19892.041.894.045
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37016B0825/00P005 | Flanders | 7,259 m² | 1 · 3,729 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | -23,000 EUR | 0 EUR |
| 2022 | 1 | 23,000 EUR | 0 EUR |
Schemes
Call groene stroom (stopgezet)
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Assesse · Eq €843,785
Of 9,140 companies in sector 68201 we hold annual accounts for 6,769. 4,921 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded28-12-1988
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.