IVAR GROUP
ActiveSummary
IVAR GROUP has been active since 1948 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.4m and a net result of €1.5m. Equity is shrinking by ~7.2% per year across the filed fiscal years. Its solvency ranks better than 69% of 6131 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability98▼-2
Solvency83▲+1
Growth38=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95,000 at 30 days acceptable
Liquidity short (current ratio 0.69 against 0.71 in 2023; short-term debt: 41.6% and cash: 5.6% of total assets), and 41.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
58.4%
Return on assets
35.9%
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 24-06-2026, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
37 d early
2024
30 d early
2023
43 d early
2022
38 d early
2021
32 d early
2020
36 d early
2019
29 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 35 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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 24 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, full schema
Turnover
€993,911▼ 17.2%
2023 · €1.2m
EBIT margin
18.5%▲ 9.9pp
2023 · 8.5%
Net result
€1.5m▼ 51.7%
2023 · €3.1m
Working capital
-€543,049▼ 0.3%
2023 · -€541,159
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale 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
Turnover€1.2m▼ 28.1%€1.3m▲ 4.9%€1.4m▲ 10.5%€1.2m▼ 15.2%€993,911▼ 17.2%
Operating result€116,564▼ 65.0%€368,108▲ 216%€412,904▲ 12.2%€102,134▼ 75.3%€183,385▲ 79.6%
Net result€797,052above the sector's middle half▼ 70.4%€5.6mabove the sector's middle half▲ 604%€2.4mabove the sector's middle half▼ 56.7%€3.1mabove the sector's middle half▲ 28.0%€1.5mabove the sector's middle half▼ 51.7%
EBIT margin9.5%▼ 10.0pp28.7%▲ 19.2pp29.1%▲ 0.4pp8.5%▼ 20.6pp18.5%▲ 9.9pp
Equity€2.2mwithin the sector's middle half▼ 51.6%€1.7mwithin the sector's middle half▼ 23.0%€2.6mwithin the sector's middle half▲ 54.9%€2.4mwithin the sector's middle half▼ 7.2%€2.4mwithin the sector's middle half▲ 0.1%
Total assets€4.7mwithin the sector's middle half▲ 1.4%€6.0mwithin the sector's middle half▲ 29.4%€5.2mwithin the sector's middle half▼ 13.3%€4.3mwithin the sector's middle half▼ 18.5%€4.2mwithin the sector's middle half▼ 2.2%
Debt€2.5m▲ 4,482%€4.4m▲ 76.2%€2.6m▼ 39.8%€1.8m▼ 29.8%€1.7m▼ 5.3%
Working capital-€1.0mbelow the sector's middle half-€1.3mbelow the sector's middle half▼ 25.4%-€352,512below the sector's middle half▲ 72.5%-€541,159below the sector's middle half▼ 53.5%-€543,049below the sector's middle half▼ 0.3%
Solvency47.2%within the sector's middle half▼ 51.7pp28.1%within the sector's middle half▼ 19.1pp50.1%within the sector's middle half▲ 22.0pp57.1%within the sector's middle half▲ 6.9pp58.4%within the sector's middle half▲ 1.4pp
Current ratio0.59below the sector's middle half▼ 25.060.70below the sector's middle half▲ 0.120.87below the sector's middle half▲ 0.160.71below the sector's middle half▼ 0.160.69below the sector's middle half▼ 0.02
Return on assets (ROA)17.0%above the sector's middle half▼ 41.4pp92.8%above the sector's middle half▲ 75.8pp46.3%above the sector's middle half▼ 46.5pp72.7%above the sector's middle half▲ 26.4pp35.9%above the sector's middle half▼ 36.8pp
Staff (FTE)1.8below the sector's middle half=1.2below the sector's middle half▼ 33.3%1below the sector's middle half▼ 16.7%1below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 80% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.2m
Fixed assets
€3.0m ▲ 0.2%
Current assets
€1.2m ▼ 7.6%
Equity and liabilities €4.2m
Equity
€2.4m ▲ 0.1%
Debt
€1.7m ▼ 5.3%
Debt's share of the balance-sheet total falls from 42.9% to 41.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€183,635
Cash flow
€1.5m
Quick ratio
0.31▼
2023 · 0.34
Debt to equity
0.71▼
2023 · 0.75
ROE
61.5%▼
2023 · 127.4%
Interest coverage
8.30
Debt ≤ 1 year
€1.7m▼
2023 · €1.8m
Income taxes
€49,273▲
2023 · €23,690
Staff costs
€32▼
2023 · €72,416
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €1.9m | €2.0m | €1.5m | €1.4m | ▼ 4.0% |
| Turnover70 | €1.2m | €1.3m | €1.4m | €1.2m | €993,911 | ▼ 17.2% |
| Other operating income74 | - | €623,809 | €568,644 | €293,735 | €441,361 | ▲ 50.3% |
| Operating charges60/66A | - | €1.5m | €1.6m | €1.4m | €1.3m | ▼ 10.1% |
| Goods for resale, raw materials and consumables60 | - | €1.1m | €1.2m | €979,056 | €867,526 | ▼ 11.4% |
| Purchases600/8 | - | €1.2m | €1.2m | €888,429 | €870,286 | ▼ 2.0% |
| Change in stocks: decrease (increase)609 | - | -€59,972 | -€55,173 | €90,627 | -€2,759 | ▼ 103% |
| Services and other goods61 | - | €338,843 | €348,942 | €342,476 | €386,609 | ▲ 12.9% |
| Remuneration, social security and pensions62 | - | €61,194 | €65,621 | €72,416 | €32 | ▼ 100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €250 | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€10,381 | -€8,000 | -€3,000 | -€4,000 | ▼ 33.3% |
| Other operating charges640/8 | - | €432 | €1,340 | €1,426 | €1,471 | ▲ 3.1% |
| Operating profit (loss)9901 | €116,564 | €368,108 | €412,904 | €102,134 | €183,385 | ▲ 79.6% |
| Financial income75/76B | - | €5.6m | €2.2m | €3.1m | €1.4m | ▼ 54.7% |
| Recurring financial income75 | €708,848 | €5.6m | €2.2m | €3.1m | €1.4m | ▼ 54.7% |
| Income from financial fixed assets750 | - | €5.5m | €2.1m | €3.0m | €1.4m | ▼ 55.6% |
| Income from current assets751 | - | - | - | - | €6,171 | - |
| Other financial income752/9 | - | €36,791 | €39,382 | €25,336 | €32,694 | ▲ 29.0% |
| Financial charges65/66B | - | €292,569 | €27,409 | €34,428 | €22,117 | ▼ 35.8% |
| Recurring financial charges65 | €26,408 | €44,675 | €27,409 | €34,428 | €22,117 | ▼ 35.8% |
| Debt charges650 | €453 | - | - | - | - | - |
| Other financial charges652/9 | - | €44,675 | €27,409 | €34,428 | €22,117 | ▼ 35.8% |
| Non-recurring financial charges66B | - | €247,894 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €799,003 | €5.6m | €2.5m | €3.1m | €1.6m | ▼ 50.5% |
| Income taxes67/77 | €1,952 | €32,323 | €105,733 | €23,690 | €49,273 | ▲ 108% |
| Taxes670/3 | - | €32,323 | €105,733 | €23,690 | €49,273 | ▲ 108% |
| Profit (loss) for the period9904 | €797,052 | €5.6m | €2.4m | €3.1m | €1.5m | ▼ 51.7% |
| Profit (loss) for the period to be appropriated9905 | €797,052 | €5.6m | €2.4m | €3.1m | €1.5m | ▼ 51.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.7m | €6.0m | €5.2m | €4.3m | €4.2m | ▼ 2.2% |
| Fixed assets21/28 | €3.2m | €3.0m | €3.0m | €3.0m | €3.0m | ▲ 0.2% |
| Tangible fixed assets22/27 | - | - | - | - | €4,750 | - |
| Other tangible fixed assets26 | - | - | - | - | €4,750 | - |
| Financial fixed assets28 | €3.2m | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Affiliated companies280/1 | - | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Participating interests280 | - | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Other financial fixed assets284/8 | - | €545 | €545 | €545 | €545 | = |
| Amounts receivable and cash guarantees285/8 | - | €545 | €545 | €545 | €545 | = |
| Current assets29/58 | €1.4m | €3.1m | €2.3m | €1.3m | €1.2m | ▼ 7.6% |
| Stocks and contracts in progress3 | €638,193 | €698,165 | €753,338 | €662,711 | €665,470 | ▲ 0.4% |
| Stocks30/36 | - | €698,165 | €753,338 | €662,711 | €665,470 | ▲ 0.4% |
| Goods purchased for resale34 | - | €698,165 | €753,338 | €662,711 | €665,470 | ▲ 0.4% |
| Amounts receivable within one year40/41 | €287,168 | €241,569 | €1.5m | €204,946 | €196,529 | ▼ 4.1% |
| Trade receivables40 | - | €188,931 | €381,286 | €164,369 | €172,640 | ▲ 5.0% |
| Other amounts receivable41 | - | €52,638 | €1.1m | €40,577 | €23,889 | ▼ 41.1% |
| Current investments50/53 | - | - | - | €250,000 | €100,000 | ▼ 60.0% |
| Other investments51/53 | - | - | - | €250,000 | €100,000 | ▼ 60.0% |
| Cash at bank and in hand54/58 | €520,189 | €2.1m | €27,837 | €179,030 | €235,259 | ▲ 31.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | €478 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.7m | €6.0m | €5.2m | €4.3m | €4.2m | ▼ 2.2% |
| Equity10/15 | €2.2m | €1.7m | €2.6m | €2.4m | €2.4m | ▲ 0.1% |
| Contributions10/11 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Capital10 | - | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Issued capital100 | - | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Reserves13 | €2.0m | €1.4m | €1.4m | €596,082 | €596,082 | = |
| Non-distributable reserves130/1 | - | €69,036 | €69,036 | €69,036 | €69,036 | = |
| Legal reserve130 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves not available under the articles1311 | - | €49,036 | €49,036 | €49,036 | €49,036 | = |
| Tax-exempt reserves132 | - | €27,046 | €27,046 | €27,046 | €27,046 | = |
| Distributable reserves133 | - | €1.3m | €1.3m | €500,000 | €500,000 | = |
| Profit (loss) carried forward14 | €10,039 | €102,296 | €1.0m | €1.6m | €1.6m | ▲ 0.2% |
| Amounts payable17/49 | €2.5m | €4.4m | €2.6m | €1.8m | €1.7m | ▼ 5.3% |
| Amounts payable within one year42/48 | €2.5m | €4.4m | €2.6m | €1.8m | €1.7m | ▼ 5.3% |
| Trade debts44 | €53,167 | €94,919 | €138,918 | €51,452 | €225,842 | ▲ 339% |
| Suppliers440/4 | - | €94,919 | €138,918 | €51,452 | €225,842 | ▲ 339% |
| Taxes, remuneration and social security45 | - | €34,048 | €41,415 | €9,914 | €14,942 | ▲ 50.7% |
| Taxes450/3 | - | €27,251 | €7,731 | €9,009 | €14,942 | ▲ 65.9% |
| Remuneration and social security454/9 | - | €6,797 | €33,684 | €905 | - | - |
| Other amounts payable47/48 | - | €4.2m | €2.4m | €1.8m | €1.5m | ▼ 15.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €797,052 | €5.6m | €2.4m | €3.1m | €1.5m | ▼ 51.7% |
| + Depreciation and write-downs630 | - | - | - | - | €250 | - |
| Operating cash flow (approximation) | €797,052 | €5.6m | €2.4m | €3.1m | €1.5m | ▼ 51.7% |
| Investment in fixed assets (approximation) | - | €247,894 | €0 | €0 | -€5,000 | - |
| Change in cash | - | €1.6m | -€2.1m | €151,193 | €56,229 | ▼ 62.8% |
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
24-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €2mEq €2.6m ▲54.9%
5 profitable years in a row build equity to €2.6m.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €5.6m ▲604%
Net result €5.6m, the highest in the series.
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €797,052 ▼70.4%
Net result drops to €797,052, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Liquidity times 21current ratio 25.65
Current ratio from 1.23 to 25.65; short-term debt falls from €1.6m to €53,907.
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
20-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Aartselaar · 1 establishment unit since 1948
Ground area
1.4 ha
Building footprint
2,532 m²
Volume, LiDAR
16,884 m³
Parcel 11001B0048/00B003, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
IVAR GROUP
since 19482.038.883.382
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11001B0048/00B003 | Flanders | 1.4 ha | 1 · 2,532 m² | 7.8 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.
Structure & network
Owners and holdings
2 owners · 2 holdingsOwners 2
-
22%
- Sourceaccounts LUVON 202516%
Holdings 2
-
42.25%
-
25%
According to the 2024 annual accounts of IVAR GROUP 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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Of 504 companies in sector 46841 we hold annual accounts for 365. 263 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded14-10-1948
Fiscal year end31-12
Activities, NACEBEL 2025
46841Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0404933032
Registered
30-06-2026
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.