Summary
I2R Capital is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €66.29M and a net result of €1.22M. Equity is growing by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 86% of 492 sector peers (fiscal year 2025). The company has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
20 d early
2023
19 d early
2022
24 d early
2021
26 d early
2020
30 d late
2019
53 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 2025, full schema
Equity
€66.29M▲ 1.9%
2024 · €65.06M
2018: €49.71Mlowest value
2019: €54.46M▲ +9.6% vs 2018
2021: €61.81M
2022: €62.45M▲ +1.0% vs 2021
2023: €63.32M▲ +1.4% vs 2022
2024: €65.06M▲ +2.8% vs 2023
2025: €66.29M▲ +1.9% vs 2024highest value
2018 → 2025
Net result
€1.22M▼ 30.0%
2024 · €1.75M
2018: €3.84M
2019: €4.75M▲ +23.8% vs 2018
2021: €5.15Mhighest value
2022: €641k▼ -87.6% vs 2021lowest value
2023: €870k▲ +35.7% vs 2022
2024: €1.75M▲ +101% vs 2023
2025: €1.22M▼ -30.0% vs 2024
2018 → 2025
Total assets
€78.47M▲ 3.6%
2024 · €75.77M
2018: €75.57M
2019: €80.76M▲ +6.9% vs 2018highest value
2021: €73.19M
2022: €72.28M▼ -1.2% vs 2021lowest value
2023: €74.00M▲ +2.4% vs 2022
2024: €75.77M▲ +2.4% vs 2023
2025: €78.47M▲ +3.6% vs 2024
2018 → 2025
Solvency
84.5%▼ 1.4pp
2024 · 85.9%
2018: 65.8%lowest value
2019: 67.4%▲ +2.5% vs 2018
2021: 84.4%
2022: 86.4%▲ +2.3% vs 2021highest value
2023: 85.6%▼ -1.0% vs 2022
2024: 85.9%▲ +0.4% vs 2023
2025: 84.5%▼ -1.6% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€61.81M-€62.45M▲ 1.0%€63.32M▲ 1.4%€65.06M▲ 2.8%€66.29M▲ 1.9%
2021: €61.81Mlowest in 5 years
2022: €62.45M▲ +1.0% vs 2021
2023: €63.32M▲ +1.4% vs 2022
2024: €65.06M▲ +2.8% vs 2023
2025: €66.29M▲ +1.9% vs 2024highest in 5 years
Operating result€196k-€209k▲ 6.8%€-481k€258k€-569k
2021: €196k
2022: €209k▲ +6.8% vs 2021
2023: €-481k▼ -330% vs 2022
2024: €258k▲ +154% vs 2023highest in 5 years
2025: €-569k▼ -321% vs 2024lowest in 5 years
Net result€5.15M-€641k▼ 87.6%€870k▲ 35.7%€1.75M▲ 101%€1.22M▼ 30.0%
2021: €5.15Mhighest in 5 years
2022: €641k▼ -87.6% vs 2021lowest in 5 years
2023: €870k▲ +35.7% vs 2022
2024: €1.75M▲ +101% vs 2023
2025: €1.22M▼ -30.0% vs 2024
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €569k after €258k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €78.47M
Fixed assets
€4.12M ▼ 0.3%
Current assets
€74.35M ▲ 3.8%
Equity and liabilities €78.47M
Equity
€66.29M ▲ 1.9%
Provisions
€1.49M ▲ 81.4%
Debt
€10.70M ▲ 8.2%
Debt's share of the balance-sheet total rises from 13.0% to 13.6%. Equity and debt are higher.
Key figures and ratios
ROE
1.8%▼
2024 · 2.7%
ROA
1.6%▼
2024 · 2.3%
Debt ≤ 1 year
€70k▲
2024 · €45k
Debt > 1 year
€8.95M▼
2024 · €9.46M
Income taxes
€160k▼
2024 · €548k
Staff costs
€8k▲
2024 · €8k
A ratio outside any meaningful range has been withheld (balance sheet total €78.47M, equity €66.29M).
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 · 70 lines
Balance sheet
Code20242025
Assets
Total assets20/58€75.77M€78.47M▲
Fixed assets21/28€4.13M€4.12M▼
Tangible fixed assets22/27€210k€199k▼
Land and buildings22€208k€199k▼
Plant, machinery and equipment23€2k-
Financial fixed assets28€3.92M€3.92M=
Affiliated companies280/1€3.92M€3.92M=
Participating interests280€3.92M€3.92M=
Current assets29/58€71.64M€74.35M▲
Amounts receivable after more than one year29€1.04M€3.06M▲
Other amounts receivable291€1.04M€3.06M▲
Amounts receivable within one year40/41€551k€419k▼
Trade receivables40€113k€92k▼
Other amounts receivable41€438k€327k▼
Current investments50/53€68.57M€69.27M▲
Other investments51/53€68.57M€69.27M▲
Cash at bank and in hand54/58€1.28M€1.61M▲
Deferred charges and accrued income490/1€196k€2k▼
Equity and liabilities
Total equity and liabilities10/49€75.77M€78.47M▲
Equity10/15€65.06M€66.29M▲
Contributions10/11€780k€780k=
Capital10€780k€780k=
Issued capital100€780k€780k=
Reserves13€78k€78k=
Non-distributable reserves130/1€78k€78k=
Legal reserve130€78k€78k=
Reserves not available under the articles1311€32€32=
Tax-exempt reserves132€68€68=
Distributable reserves133€85€85=
Profit (loss) carried forward14€64.21M€65.43M▲
Provisions and deferred taxes16€821k€1.49M▲
Provisions for liabilities and charges160/5€821k€1.49M▲
Other liabilities and charges164/5€821k€1.49M▲
Amounts payable17/49€9.89M€10.70M▲
Amounts payable after more than one year17€9.46M€8.95M▼
Other amounts payable178/9€9.46M€8.95M▼
Amounts payable within one year42/48€45k€70k▲
Trade debts44€14k€40k▲
Suppliers440/4€14k€40k▲
Taxes, remuneration and social security45€30k€25k▼
Taxes450/3€29k€24k▼
Remuneration and social security454/9€1k€1k▼
Other amounts payable47/48€39€5k▲
Accrued charges and deferred income492/3€385k€1.68M▲
Income statement
Code20242025
Operating income70/76A€353k€317k▼
Other operating income74€353k€317k▼
Operating charges60/66A€95k€886k▲
Services and other goods61€45k€56k▲
Remuneration, social security and pensions62€8k€8k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€12k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8-€780k
Other operating charges640/8€29k€30k▲
Operating profit (loss)9901€258k€-569k▼
Financial income75/76B€2.86M€2.71M▼
Recurring financial income75€2.86M€2.71M▼
Income from current assets751€2.12M€1.74M▼
Other financial income752/9€744k€964k▲
Financial charges65/66B€824k€755k▼
Recurring financial charges65€824k€755k▼
Debt charges650€629k€609k▼
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651€-424k€-474k▼
Other financial charges652/9€619k€620k▲
Profit (loss) for the period before taxes9903€2.29M€1.38M▼
Income taxes67/77€548k€160k▼
Taxes670/3€548k€160k▼
Profit (loss) for the period9904€1.75M€1.22M▼
Profit (loss) for the period to be appropriated9905€1.75M€1.22M▼
Appropriation of the result
Profit (loss) to be appropriated9906€64.21M€65.43M▲
Profit (loss) brought forward from the previous period14P€62.46M€64.21M▲
Social balance
Average headcount (FTE)90870.30.3=
The notes to these accounts (39 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €272k | €284k | €326k | €353k | €317k | ▼ 10.2% |
| Other operating income74 | €272k | €284k | €326k | €353k | €317k | ▼ 10.2% |
| Operating charges60/66A | €76k | €75k | €807k | €95k | €886k | ▲ 833% |
| Services and other goods61 | €23k | €25k | €47k | €45k | €56k | ▲ 26.0% |
| Remuneration, social security and pensions62 | €100 | €7k | €8k | €8k | €8k | ▲ 4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28k | €17k | €16k | €14k | €12k | ▼ 13.6% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €709k | - | €780k | - |
| Other operating charges640/8 | €25k | €25k | €28k | €29k | €30k | ▲ 2.0% |
| Operating profit (loss)9901 | €196k | €209k | €-481k | €258k | €-569k | ▼ 321% |
| Financial income75/76B | €6.10M | €3.46M | €2.29M | €2.86M | €2.71M | ▼ 5.4% |
| Recurring financial income75 | €6.10M | €3.46M | €2.29M | €2.86M | €2.71M | ▼ 5.4% |
| Income from financial fixed assets750 | €3.90M | €239k | - | - | - | - |
| Income from current assets751 | €1.30M | €1.66M | €2.17M | €2.12M | €1.74M | ▼ 17.7% |
| Other financial income752/9 | €897k | €1.56M | €118k | €744k | €964k | ▲ 29.6% |
| Financial charges65/66B | €741k | €2.75M | €763k | €824k | €755k | ▼ 8.5% |
| Recurring financial charges65 | €741k | €2.75M | €763k | €824k | €755k | ▼ 8.5% |
| Debt charges650 | €451k | €404k | €543k | €629k | €609k | ▼ 3.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | €-284k | €1.50M | €-245k | €-424k | €-474k | ▼ 11.9% |
| Other financial charges652/9 | €574k | €852k | €464k | €619k | €620k | ▲ 0.2% |
| Profit (loss) for the period before taxes9903 | €5.56M | €913k | €1.04M | €2.29M | €1.38M | ▼ 39.8% |
| Income taxes67/77 | €404k | €272k | €175k | €548k | €160k | ▼ 70.8% |
| Taxes670/3 | €404k | €272k | €175k | €548k | €160k | ▼ 70.8% |
| Profit (loss) for the period9904 | €5.15M | €641k | €870k | €1.75M | €1.22M | ▼ 30.0% |
| Profit (loss) for the period to be appropriated9905 | €5.15M | €641k | €870k | €1.75M | €1.22M | ▼ 30.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €73.19M | €72.28M | €74.00M | €75.77M | €78.47M | ▲ 3.6% |
| Fixed assets21/28 | €4.18M | €4.16M | €4.15M | €4.13M | €4.12M | ▼ 0.3% |
| Tangible fixed assets22/27 | €257k | €240k | €224k | €210k | €199k | ▼ 5.6% |
| Land and buildings22 | €249k | €234k | €220k | €208k | €199k | ▼ 4.7% |
| Plant, machinery and equipment23 | €8k | €6k | €4k | €2k | - | - |
| Financial fixed assets28 | €3.92M | €3.92M | €3.92M | €3.92M | €3.92M | = |
| Affiliated companies280/1 | €3.92M | €3.92M | €3.92M | €3.92M | €3.92M | = |
| Participating interests280 | €3.92M | €3.92M | €3.92M | €3.92M | €3.92M | = |
| Current assets29/58 | €69.02M | €68.12M | €69.86M | €71.64M | €74.35M | ▲ 3.8% |
| Amounts receivable after more than one year29 | €934k | €969k | €1.01M | €1.04M | €3.06M | ▲ 193% |
| Other amounts receivable291 | €934k | €969k | €1.01M | €1.04M | €3.06M | ▲ 193% |
| Amounts receivable within one year40/41 | €116k | €294k | €659k | €551k | €419k | ▼ 24.0% |
| Trade receivables40 | €72k | €73k | €97k | €113k | €92k | ▼ 18.5% |
| Other amounts receivable41 | €44k | €220k | €562k | €438k | €327k | ▼ 25.4% |
| Current investments50/53 | €40.57M | €61.26M | €66.21M | €68.57M | €69.27M | ▲ 1.0% |
| Other investments51/53 | €40.57M | €61.26M | €66.21M | €68.57M | €69.27M | ▲ 1.0% |
| Cash at bank and in hand54/58 | €27.39M | €5.59M | €1.76M | €1.28M | €1.61M | ▲ 25.3% |
| Deferred charges and accrued income490/1 | €1k | €14k | €223k | €196k | €2k | ▼ 98.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €73.19M | €72.28M | €74.00M | €75.77M | €78.47M | ▲ 3.6% |
| Equity10/15 | €61.81M | €62.45M | €63.32M | €65.06M | €66.29M | ▲ 1.9% |
| Contributions10/11 | €780k | €780k | €780k | €780k | €780k | = |
| Capital10 | €780k | €780k | €780k | €780k | €780k | = |
| Issued capital100 | €780k | €780k | €780k | €780k | €780k | = |
| Reserves13 | €78k | €78k | €78k | €78k | €78k | = |
| Non-distributable reserves130/1 | €78k | €78k | €78k | €78k | €78k | = |
| Legal reserve130 | €78k | €78k | €78k | €78k | €78k | = |
| Reserves not available under the articles1311 | - | - | €32 | €32 | €32 | = |
| Other1319 | €32 | €32 | - | - | - | - |
| Tax-exempt reserves132 | €68 | €68 | €68 | €68 | €68 | = |
| Distributable reserves133 | €85 | €85 | €85 | €85 | €85 | = |
| Profit (loss) carried forward14 | €60.95M | €61.59M | €62.46M | €64.21M | €65.43M | ▲ 1.9% |
| Provisions and deferred taxes16 | €166k | €154k | €850k | €821k | €1.49M | ▲ 81.4% |
| Provisions for liabilities and charges160/5 | €166k | €154k | €850k | €821k | €1.49M | ▲ 81.4% |
| Other liabilities and charges164/5 | €166k | €154k | €850k | €821k | €1.49M | ▲ 81.4% |
| Amounts payable17/49 | €11.22M | €9.68M | €9.83M | €9.89M | €10.70M | ▲ 8.2% |
| Amounts payable after more than one year17 | €10.96M | €9.46M | €9.46M | €9.46M | €8.95M | ▼ 5.3% |
| Other amounts payable178/9 | €10.96M | €9.46M | €9.46M | €9.46M | €8.95M | ▼ 5.3% |
| Amounts payable within one year42/48 | €15k | €16k | €28k | €45k | €70k | ▲ 56.8% |
| Trade debts44 | €11k | €11k | €23k | €14k | €40k | ▲ 175% |
| Suppliers440/4 | €11k | €11k | €23k | €14k | €40k | ▲ 175% |
| Taxes, remuneration and social security45 | €4k | €5k | €5k | €30k | €25k | ▼ 16.4% |
| Taxes450/3 | €4k | €4k | €4k | €29k | €24k | ▼ 16.5% |
| Remuneration and social security454/9 | - | €1k | €1k | €1k | €1k | ▼ 13.5% |
| Other amounts payable47/48 | €39 | €39 | €123 | €39 | €5k | ▲ 12,906% |
| Accrued charges and deferred income492/3 | €250k | €208k | €347k | €385k | €1.68M | ▲ 336% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5.15M | €641k | €870k | €1.75M | €1.22M | ▼ 30.0% |
| + Depreciation and write-downs630 | €28k | €17k | €16k | €14k | €12k | ▼ 13.6% |
| Operating cash flow (approximation) | €5.18M | €658k | €886k | €1.76M | €1.23M | ▼ 29.9% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €-21.80M | €-3.83M | €-480k | €325k | ▲ 168% |
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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €641k ▼87.6%
Net result drops to €641k, the lowest in the series; recovery starts the following year.
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €5.15M ▲8.5%
Net result €5.15M, the highest in the series.
31-12
Financial
Liquidity times 1022current ratio 4660.95
Current ratio from 4.56 to 4660.95; short-term debt falls from €14.90M to €15k.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2020
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 53 days late
2019
31-12
Financial
Equity above €50MEq €54.46M ▲9.6%
2 profitable years in a row build equity to €54.46M.
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
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, Nandrin · 1 establishment unit since 2001
Ground area
2,227 m²
Parcel 61043D0227/00C000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Chemin du Meunier 34, 4550 Nandrin
since 20012.095.144.075
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61043D0227/00C000 | Wallonia | 2,227 m² | - | - |
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.
Recognitions · licences · registrations
Legal Entity Identifier
967600LMBCL7EZAWUU93
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Of 1,507 companies in sector 66199 we hold annual accounts for 917. 71 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
Founded02-01-2001
Fiscal year end31-12
Activities, NACEBEL 2025
66199Other activities auxiliary to financial services, excluding insurance and pension funding
70200Business and other management consultancy
62200Computer consultancy and computer facilities management
71121Engineering and related technical consultancy, excluding land surveyors
Scores and ratios are computed by Checked and are not a credit decision.