Summary
QH10 has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2023 annual accounts show equity of €335k and a net result of €-109k. Equity is shrinking by ~2.7% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Axes, FY 2023 · tick = 2022
Profitability18▼-54
Solvency40▼-7
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2023Solvency, return and age of the figures
Solvency
15.5%
Return on assets
-5%
Age of the figures
33 mo
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
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 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 d early
2024
44 d early
2023
43 d early
2022
26 d early
2021
22 d late
2020
1 d early
2019
26 d late
← 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2023, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-109k
2022 · €61k
2018: €54k
2019: €13k▼ -75.6% vs 2018
2020: €-24k▼ -277% vs 2019
2021: €-71k▼ -200% vs 2020
2022: €61k▲ +186% vs 2021highest in 6 years
2023: €-109k▼ -279% vs 2022lowest in 6 years
2018 → 2023
Working capital
€-204k▼ 49.8%
2022 · €-136k
2018: €-1.21M
2019: €-1.25M▼ -2.8% vs 2018lowest in 6 years
2020: €-1.23M▲ +1.4% vs 2019
2021: €-207k▲ +83.1% vs 2020
2022: €-136k▲ +34.3% vs 2021highest in 6 years
2023: €-204k▼ -49.8% vs 2022
2018 → 2023
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222023Trend
Equity€478k-€454k▼ 4.9%€383k▼ 15.5%€444k▲ 15.9%€335k▼ 24.6%
2019: €478khighest in 5 years
2020: €454k▼ -4.9% vs 2019
2021: €383k▼ -15.5% vs 2020
2022: €444k▲ +15.9% vs 2021
2023: €335k▼ -24.6% vs 2022lowest in 5 years
Operating result€87k-€44k▼ 49.3%€-36k€84k€-55k
2019: €87khighest in 5 years
2020: €44k▼ -49.3% vs 2019
2021: €-36k▼ -183% vs 2020
2022: €84k▲ +333% vs 2021
2023: €-55k▼ -165% vs 2022lowest in 5 years
Net result€13k-€-24k€-71k▼ 200%€61k€-109k
2019: €13k
2020: €-24k▼ -277% vs 2019
2021: €-71k▼ -200% vs 2020
2022: €61k▲ +186% vs 2021highest in 5 years
2023: €-109k▼ -279% vs 2022lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2023: a loss of €55k after €84k in 2022, the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €2.16M
Fixed assets
€2.15M ▲ 7.3%
Current assets
€19k ▼ 67.6%
Equity and liabilities €2.16M
Equity
€335k ▼ 24.6%
Debt
€1.83M ▲ 13.4%
Debt's share of the balance-sheet total rises from 78.4% to 84.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€37k▼
2022 · €178k
Cash flow
€-18k▼
2022 · €155k
Current ratio
0.09▼
2022 · 0.30
Debt to equity
5.46▲
2022 · 3.63
ROE
-32.6%▼
2022 · 13.7%
ROA
-5.0%▼
2022 · 3.0%
Interest coverage
0.68▼
2022 · 7.59
Debt ≤ 1 year
€223k▲
2022 · €195k
Debt > 1 year
€1.57M▲
2022 · €1.42M
Staff costs
€475▼
2022 · €15k
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 · 2023 against 2022 · 48 lines
Balance sheet
Code20222023
Assets
Total assets20/58€2.06M€2.16M▲
Fixed assets21/28€2.00M€2.15M▲
Tangible fixed assets22/27€2.00M€2.15M▲
Land and buildings22€1.96M€1.87M▼
Furniture and vehicles24€0-
Assets under construction and advance payments27€34k€274k▲
Financial fixed assets28€0-
Current assets29/58€59k€19k▼
Cash at bank and in hand54/58€54k€19k▼
Deferred charges and accrued income490/1€4k€347▼
Equity and liabilities
Total equity and liabilities10/49€2.06M€2.16M▲
Equity10/15€444k€335k▼
Contributions10/11€600k€600k=
Outside capital11-€600k
Share premium1100/10-€600k
Profit (loss) carried forward14€-156k€-265k▼
Amounts payable17/49€1.61M€1.83M▲
Amounts payable after more than one year17€1.42M€1.57M▲
Financial debts170/4€1.38M€1.57M▲
Other amounts payable178/9€39k€0▼
Amounts payable within one year42/48€195k€223k▲
Current portion of amounts payable after more than one year42€167k€170k▲
Trade debts44€20k€53k▲
Suppliers440/4€20k€53k▲
Advances received on contracts in progress46€8k€0▼
Taxes, remuneration and social security45€0-
Taxes450/3€0-
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€3k€40k▲
Income statement
Code20222023
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€15k€475▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€94k€92k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€3k
Other operating charges640/8€52k€45k▼
Non-recurring operating charges66A€0-
Gross operating margin9900€244k€85k▼
Operating profit (loss)9901€84k€-55k▼
Financial income75/76B€241€0▼
Recurring financial income75€241€0▼
Non-recurring financial income76B€0-
Financial charges65/66B€23k€55k▲
Recurring financial charges65€23k€55k▲
Profit (loss) for the period before taxes9903€61k€-109k▼
Profit (loss) for the period9904€61k€-109k▼
Profit (loss) for the period to be appropriated9905€61k€-109k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-156k€-265k▼
Profit (loss) brought forward from the previous period14P€-217k€-156k▲
Social balance
Average headcount (FTE)90870.2-
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €9k | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | €16k | €15k | €475 | ▼ 96.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €105k | €102k | €95k | €94k | €92k | ▼ 2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €3k | - |
| Other operating charges640/8 | - | - | €62k | €52k | €45k | ▼ 12.6% |
| Non-recurring operating charges66A | - | - | €23k | €0 | - | - |
| Gross operating margin9900 | €259k | €220k | €159k | €244k | €85k | ▼ 65.2% |
| Operating profit (loss)9901 | €87k | €44k | €-36k | €84k | €-55k | ▼ 165% |
| Financial income75/76B | - | - | €6k | €241 | €0 | ▼ 99.9% |
| Recurring financial income75 | - | - | €6k | €241 | €0 | ▼ 99.9% |
| Non-recurring financial income76B | - | - | €6k | €0 | - | - |
| Financial charges65/66B | - | - | €40k | €23k | €55k | ▲ 134% |
| Recurring financial charges65 | €73k | €67k | €40k | €23k | €55k | ▲ 134% |
| Profit (loss) for the period before taxes9903 | €13k | €-24k | €-71k | €61k | €-109k | ▼ 279% |
| Profit (loss) for the period9904 | €13k | €-24k | €-71k | €61k | €-109k | ▼ 279% |
| Profit (loss) for the period to be appropriated9905 | €13k | €-24k | €-71k | €61k | €-109k | ▼ 279% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.78M | €3.69M | €2.09M | €2.06M | €2.16M | ▲ 5.2% |
| Fixed assets21/28 | €3.73M | €3.64M | €2.06M | €2.00M | €2.15M | ▲ 7.3% |
| Tangible fixed assets22/27 | €3.73M | €3.64M | €2.06M | €2.00M | €2.15M | ▲ 7.3% |
| Land and buildings22 | - | - | €2.06M | €1.96M | €1.87M | ▼ 4.8% |
| Furniture and vehicles24 | - | - | €81 | €0 | - | - |
| Assets under construction and advance payments27 | - | - | - | €34k | €274k | ▲ 706% |
| Financial fixed assets28 | €210 | €210 | €210 | €0 | - | - |
| Current assets29/58 | €50k | €41k | €30k | €59k | €19k | ▼ 67.6% |
| Stocks and contracts in progress3 | €4k | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €3k | - | - | - | - | - |
| Cash at bank and in hand54/58 | €43k | €41k | €24k | €54k | €19k | ▼ 65.6% |
| Deferred charges and accrued income490/1 | - | - | €6k | €4k | €347 | ▼ 92.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.78M | €3.69M | €2.09M | €2.06M | €2.16M | ▲ 5.2% |
| Equity10/15 | €478k | €454k | €383k | €444k | €335k | ▼ 24.6% |
| Contributions10/11 | €600k | €600k | €600k | €600k | €600k | = |
| Capital10 | - | - | €600k | - | - | - |
| Issued capital100 | - | - | €600k | - | - | - |
| Outside capital11 | - | - | - | - | €600k | - |
| Share premium1100/10 | - | - | - | - | €600k | - |
| Profit (loss) carried forward14 | €-122k | €-146k | €-217k | €-156k | €-265k | ▼ 70.2% |
| Amounts payable17/49 | €3.30M | €3.23M | €1.71M | €1.61M | €1.83M | ▲ 13.4% |
| Amounts payable after more than one year17 | €2.00M | €1.96M | €1.47M | €1.42M | €1.57M | ▲ 10.7% |
| Financial debts170/4 | - | - | €1.20M | €1.38M | €1.57M | ▲ 13.8% |
| Other amounts payable178/9 | - | - | €270k | €39k | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €1.30M | €1.27M | €237k | €195k | €223k | ▲ 14.4% |
| Current portion of amounts payable after more than one year42 | - | - | €164k | €167k | €170k | ▲ 1.9% |
| Trade debts44 | €71k | €18k | €6k | €20k | €53k | ▲ 161% |
| Suppliers440/4 | - | - | €6k | €20k | €53k | ▲ 161% |
| Advances received on contracts in progress46 | - | - | €804 | €8k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | €2k | €0 | - | - |
| Taxes450/3 | - | - | €2k | €0 | - | - |
| Other amounts payable47/48 | - | - | €64k | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €3k | €40k | ▲ 1,163% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13k | €-24k | €-71k | €61k | €-109k | ▼ 279% |
| + Depreciation and write-downs630 | €105k | €102k | €95k | €94k | €92k | ▼ 2.3% |
| Operating cash flow (approximation) | €118k | €79k | €24k | €155k | €-18k | ▼ 111% |
| Investment in fixed assets (approximation) | - | €-18k | €1.49M | €-33k | €-238k | ▼ 628% |
| Change in cash | - | €-2k | €-17k | €30k | €-36k | ▼ 217% |
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
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · unclassified schema
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema
2024
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-109k
Net result drops to €-109k, the lowest in the series.
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €61k
Net result €61k after 2 loss-making years.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 26 days late
2019
31-12
Financial
Equity above €200kEq €478k ▲191%
2 profitable years in a row build equity to €478k.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 27 days late
2017
25-07
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 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.
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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, Waregem · 1 establishment unit since 2007
Ground area
1.1 ha
Building footprint
581 m²
Volume, LiDAR
520 m³
Parcel 34452B1150/00A000, Flanders · tallest building 5.1 m. Linked by address, not a title deed.
141
companies at this address
See who is registered here
1 establishment unit
Vredestraat 53, 8790 Waregem
since 20072.166.299.317
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34452B1150/00A000 | Flanders | 1.1 ha | 1 · 581 m² | 5.1 m |
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.
Identification & contact
Identification
Legal formPublic limited company
Founded06-11-2007
Fiscal year end31-12
Contact
E-mail
info@ion.be
Phone
+3256285500
Scores and ratios are computed by Checked and are not a credit decision.