Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 24 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
63 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
ISHKA from Kortrijk, company number BE0443725411, closed financial year 2025 with a result of € -38,201 after tax. For that financial year ISHKA recorded a gross margin of € -6,819 and equity of € 715,876. Compared with financial year 2024, the result moved from € -40,595 to € -38,201. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 28, 2026.
€ 715,876
▼ 5% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -38,201
▲ 6 % less loss than in 2024
Profit after tax over the fiscal year.
€ 5,778
▲ 1% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -57,550.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
€ 424,585
▼ 3% vs 2024
€ 18,333 is repaid this year. At this pace the long-term loan is gone in ≈ 23 years.
€ 801
▼ 90% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 70,992 | € 18,610 | € 126,972 | € -6,819 | ▼ € 133,790 |
| Profit after taxes | € 45,592 | € -146,751 | € -40,595 | € -38,201 | ▲ € 2,394 |
| Equity | € 941,423 | € 794,672 | € 754,077 | € 715,876 | ▼ 5% |
| Total debts | € 349,685 | € 250,432 | € 1,091,453 | € 1,177,816 | ▲ 8% |
| Cash | € 6,139 | € 6,521 | € 5,739 | € 5,778 | ▲ 1% |
| Land & buildings | € 164,131 | € 148,031 | € 142,422 | € 126,314 | ▼ 11% |
| Retained profit | € 167,997 | € 21,246 | € -19,349 | € -57,550 | ▼ € 38,201 |
| Bank debt | € 108,472 | € 90,139 | € 436,299 | € 424,585 | ▼ 3% |
| Balance sheet total | € 1,291,108 | € 1,045,103 | € 1,845,530 | € 1,893,692 | ▲ 3% |
Key figures of ISHKA, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ISHKA?
What happened at ISHKA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 38,201. filed late Source: NBB ↗
- Piet DEVOLDER became a director. NBB
- New establishment in Kortrijk. KBO
- Start of the company according to the CBE. KBO
In short
From € 45,592 profit in 2022 to € 38,201 loss in 2025.
Paid € 18,412 in corporate taxes since 2022.
Best year ever: 2022, with € 45,592 profit.
A new publication or filing at ISHKA? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind ISHKA is Piet DEVOLDER. It owns 100% of ENERGYFUND 1, 85% of Global Real Estate Investment Company, 50% of Acastus and 20% of Create Real Estate itself.
Directors
According to the 2025 annual accounts
Piet DEVOLDER
Director
Also active at: Himmovar, HP ADVIES, Patriveras, BC1, BC Luiker, FBBC BEL, GLOBAL REAL ESTATE INVESTMENT COMPANY, ADMETUS +3 more
since 2024
Establishments
Establishment units
Physical locations of this company
Engelse Wandeling(Kor) 2 box K13V
8500 Kortrijk
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 63 companies are registered at this address.
All companies at this address →Himmovar same network
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€ 694,931 gross margin · 2025
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CAROLITH
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€ 151,490 gross margin · 2025
+58 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0443.725.411
- VAT number
- BE 0443.725.411
- Registered office
- Engelse Wandeling(Kor) 2 bus K13V, 8500 Kortrijk
- Names & denominations
- ISHKA
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 27 March 1991
- Peppol
- Active · Active since 26 Nov 2025
- Activities · NACE
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
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