IVH
ActiveSummary
IVH has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€75,118) and a net result of €29,453. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 8% of 7814 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▼-12
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 1.5 against 1.55 in 2024; short-term debt: 49.6% and cash: 1.3% of total assets), but equity is negative.
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Signals
Five 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 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer 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 2025Solvency, return and age of the figures
Solvency
-44.8%
Return on assets
17.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 8% of 7814 sector peers (2025).
NBB · sector comparisonPosition among 7814 sector peers
Solvency
better than 8%
← weakest
strongest →
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
18 d late
2023
34 d early
2022
18 d late
2021
22 d late
2020
16 d late
2019
13 d late
← 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 5 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€75,118▲ 28.2%
2024 · -€104,571
Total assets
€167,795▼ 23.4%
2024 · €219,157
Net result
€29,453▼ 34.8%
2024 · €45,153
Working capital
€41,671▼ 35.1%
2024 · €64,223
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
Line20212022202320242025
Operating result-€324,665▼ 25,584%€44,778€75,314▲ 68.2%€58,230▼ 22.7%€39,004▼ 33.0%
Net result-€327,809▼ 19,715%€31,617€64,304▲ 103%€45,153▼ 29.8%€29,453▼ 34.8%
Equity-€180,644-€149,027▲ 17.5%-€84,724▲ 43.1%-€104,571▼ 23.4%-€75,118▲ 28.2%
Total assets€104,039▼ 76.7%€106,593▲ 2.5%€210,318▲ 97.3%€219,157▲ 4.2%€167,795▼ 23.4%
Debt€215,084▼ 6.2%€186,020▼ 13.5%€225,442▲ 21.2%€254,128▲ 12.7%€173,313▼ 31.8%
Working capital€63,377▼ 69.7%€73,037▲ 15.2%€122,134▲ 67.2%€64,223▼ 47.4%€41,671▼ 35.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 33% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €167,795
Fixed assets
€42,814 ▲ 9.7%
Current assets
€124,981 ▼ 30.6%
Key figures and ratios
EBITDA
€42,500▼
2024 · €61,319
Cash flow
€32,948▼
2024 · €48,242
Solvency
-44.8%▲
2024 · -47.7%
Current ratio
1.50▼
2024 · 1.55
Quick ratio
1.48▼
2024 · 1.54
Debt to equity
-2.31▲
2024 · -2.43
ROA
17.6%▼
2024 · 20.6%
Interest coverage
3.42▼
2024 · 4.44
Debt ≤ 1 year
€83,309▼
2024 · €115,910
Debt > 1 year
€90,004▼
2024 · €138,217
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,639 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
4.9%
stopped otherwise
92%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 3,639 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,488 | €1,129 | €1,736 | €3,089 | €3,495 | ▲ 13.1% |
| Other operating charges640/8 | €1,451 | €16,397 | €698 | €5,579 | €830 | ▼ 85.1% |
| Non-recurring operating charges66A | €390,000 | €0 | - | - | - | - |
| Gross operating margin9900 | €69,274 | €62,303 | €77,748 | €66,898 | €43,330 | ▼ 35.2% |
| Operating profit (loss)9901 | -€324,665 | €44,778 | €75,314 | €58,230 | €39,004 | ▼ 33.0% |
| Financial income75/76B | €1,043 | €778 | €748 | €738 | €2,862 | ▲ 288% |
| Recurring financial income75 | €1,043 | €778 | €748 | €738 | €2,862 | ▲ 288% |
| Financial charges65/66B | €2,637 | €13,939 | €11,759 | €13,815 | €12,414 | ▼ 10.1% |
| Recurring financial charges65 | €2,637 | €13,939 | €11,759 | €13,815 | €12,414 | ▼ 10.1% |
| Profit (loss) for the period before taxes9903 | -€326,259 | €31,617 | €64,304 | €45,153 | €29,453 | ▼ 34.8% |
| Income taxes67/77 | €1,550 | €0 | - | - | - | - |
| Profit (loss) for the period9904 | -€327,809 | €31,617 | €64,304 | €45,153 | €29,453 | ▼ 34.8% |
| Profit (loss) for the period to be appropriated9905 | -€327,809 | €31,617 | €64,304 | €45,153 | €29,453 | ▼ 34.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €104,039 | €106,593 | €210,318 | €219,157 | €167,795 | ▼ 23.4% |
| Fixed assets21/28 | €3,130 | €4,393 | €5,460 | €39,024 | €42,814 | ▲ 9.7% |
| Tangible fixed assets22/27 | €3,090 | €4,353 | €3,895 | €38,679 | €42,469 | ▲ 9.8% |
| Land and buildings22 | - | - | - | €35,190 | €33,734 | ▼ 4.1% |
| Plant, machinery and equipment23 | - | €1,778 | €1,835 | €612 | €2 | ▼ 99.6% |
| Furniture and vehicles24 | - | - | - | €1,333 | €7,703 | ▲ 478% |
| Other tangible fixed assets26 | €3,090 | €2,575 | €2,060 | €1,545 | €1,030 | ▼ 33.3% |
| Financial fixed assets28 | €40 | €40 | €1,565 | €345 | €345 | = |
| Current assets29/58 | €100,909 | €102,200 | €204,859 | €180,133 | €124,981 | ▼ 30.6% |
| Amounts receivable after more than one year29 | €28,455 | €53,455 | €53,455 | €53,455 | €0 | ▼ 100% |
| Other amounts receivable291 | €28,455 | €53,455 | €53,455 | €53,455 | €0 | ▼ 100% |
| Stocks and contracts in progress3 | €5,000 | €1,500 | €847 | €1,550 | €1,970 | ▲ 27.1% |
| Stocks30/36 | €5,000 | €1,500 | €847 | €1,550 | €1,970 | ▲ 27.1% |
| Amounts receivable within one year40/41 | €51,147 | €31,732 | €107,343 | €118,592 | €114,710 | ▼ 3.3% |
| Trade receivables40 | €51,147 | €29,621 | €106,896 | €118,592 | €112,958 | ▼ 4.8% |
| Other amounts receivable41 | - | €2,112 | €447 | €0 | €1,752 | - |
| Cash at bank and in hand54/58 | €15,929 | €10,977 | €40,719 | €3,221 | €2,150 | ▼ 33.2% |
| Deferred charges and accrued income490/1 | €378 | €4,536 | €2,495 | €3,316 | €6,150 | ▲ 85.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €104,039 | €106,593 | €210,318 | €219,157 | €167,795 | ▼ 23.4% |
| Equity10/15 | -€180,644 | -€149,027 | -€84,724 | -€104,571 | -€75,118 | ▲ 28.2% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €129,860 | €129,860 | €129,860 | €64,860 | €64,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €128,000 | €128,000 | €128,000 | €63,000 | €63,000 | = |
| Profit (loss) carried forward14 | -€329,104 | -€297,487 | -€233,184 | -€188,031 | -€158,578 | ▲ 15.7% |
| Provisions and deferred taxes16 | €69,600 | €69,600 | €69,600 | €69,600 | €69,600 | = |
| Provisions for liabilities and charges160/5 | €69,600 | €69,600 | €69,600 | €69,600 | €69,600 | = |
| Pensions and similar obligations160 | €69,600 | €69,600 | €69,600 | €69,600 | €69,600 | = |
| Amounts payable17/49 | €215,084 | €186,020 | €225,442 | €254,128 | €173,313 | ▼ 31.8% |
| Amounts payable after more than one year17 | €177,551 | €156,857 | €142,718 | €138,217 | €90,004 | ▼ 34.9% |
| Financial debts170/4 | €177,551 | €156,857 | €142,718 | €138,217 | €90,004 | ▼ 34.9% |
| Amounts payable within one year42/48 | €37,532 | €29,164 | €82,724 | €115,910 | €83,309 | ▼ 28.1% |
| Current portion of amounts payable after more than one year42 | €20,099 | €20,695 | €14,139 | €4,500 | €3,265 | ▼ 27.5% |
| Trade debts44 | €10,480 | €6,349 | €30,483 | €2,535 | €31,758 | ▲ 1,153% |
| Suppliers440/4 | €10,480 | €6,349 | €30,483 | €2,535 | €31,758 | ▲ 1,153% |
| Taxes, remuneration and social security45 | €6,854 | €1,465 | €4,567 | €7,450 | €4,783 | ▼ 35.8% |
| Taxes450/3 | €6,854 | €1,465 | €4,567 | €7,450 | €4,783 | ▼ 35.8% |
| Other amounts payable47/48 | €99 | €655 | €33,536 | €101,425 | €43,503 | ▼ 57.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€327,809 | €31,617 | €64,304 | €45,153 | €29,453 | ▼ 34.8% |
| + Depreciation and write-downs630 | €2,488 | €1,129 | €1,736 | €3,089 | €3,495 | ▲ 13.1% |
| Operating cash flow (approximation) | -€325,322 | €32,746 | €66,039 | €48,242 | €32,948 | ▼ 31.7% |
| Investment in fixed assets (approximation) | - | -€2,391 | -€2,803 | -€36,653 | -€7,286 | ▲ 80.1% |
| Change in cash | - | -€4,952 | €29,742 | -€37,498 | -€1,070 | ▲ 97.1% |
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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 18 days late
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €64,304 ▲103%
Operating result €75,314, net result €64,304, both a record.
18-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 18 days late
2022
31-12
Financial
Back to profitnet €31,617
Net result €31,617 after 2 loss-making years.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
31-12
Financial
Weakest financial yearnet -€327,809
Net result drops to -€327,809, the lowest in the series; recovery starts the following year.
16-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 16 days late
2020
13-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 13 days late
2019
31-12
Financial
Back to profitnet €27,066
Net result €27,066 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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 2009
Ground area
1,491 m²
Building footprint
984 m²
Volume, LiDAR
7,216 m³
Parcel 11463D0325/00K002, Flanders · tallest building 8.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Kernenergiestraat 19/T11, 2610 Antwerpen
since 20092.181.597.108
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11463D0325/00K002 | Flanders | 1,491 m² | 1 · 984 m² | 8.2 m · 3 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 221 EUR awarded · 221 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 141 EUR | 141 EUR |
| 2022 | 1 | 80 EUR | 80 EUR |
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Of 24,517 companies in sector 82990 we hold annual accounts for 9,415. 7,136 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
Founded28-09-2009
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
43212Electrical installation work in industrial facilities
46130Agents in the wholesale of timber and building materials
46150Agents in the wholesale of furniture, household goods and hardware
46900Non-specialised wholesale trade
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
47783Retail trade
64210Activities of holding companies
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0819086311
Registered
26-07-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.