2INGIS
ActiveFinancials · financial year 2026, full format
Annual accounts 2026 filed on 07-10-2026 at the NBB all 34 filings
Turnover
≈ €640,000
Estimated: probably between €390,000 and €1.1m
EBIT margin
Not included in this filing
Net result
-€1,948▲ 95.9%
2025 · -€47,005
Working capital
€75,367▼ 18.2%
2025 · €92,168
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
-€701
▲ 98.5%
2026
20192026
Net result
-€1,948
▲ 95.9%
2026
20192026
Equity
€454,151
▼ 0.4%
2026
20192026
Total assets
€626,591
▼ 1.2%
2026
20192026
Debt
€172,440
▼ 3.1%
2026
20192026
Working capital
€75,367
▼ 18.2%
2026
20192026
Solvency
72.5%
▲ 0.5pp
2026
20192026
Current ratio
1.44
▼ 0.08
2026
20192026
Return on assets (ROA)
-0.3%
▲ 7.1pp
2026
20192026
Staff (FTE)
5.5
▲ 57.1%
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result-€62,079--€112,349▼ 81.0%€22,297-€31,342-€57,679▼ 84.0%€7,563-€45,977-€701▲ 98.5%
Net result-€52,042--€106,752▼ 105%€23,341within the sector's middle half-€33,766below the sector's middle half-€62,231below the sector's middle half▼ 84.3%€6,066within the sector's middle half-€47,005below the sector's middle half-€1,948▲ 95.9%
Equity€442,820-€325,712▼ 26.4%€341,697within the sector's middle half▲ 4.9%€303,575within the sector's middle half▼ 11.2%€236,988within the sector's middle half▼ 21.9%€243,054within the sector's middle half▲ 2.6%€456,099within the sector's middle half▲ 87.7%€454,151▼ 0.4%
Total assets€642,538-€608,610▼ 5.3%€584,575within the sector's middle half▼ 3.9%€595,206within the sector's middle half▲ 1.8%€572,673within the sector's middle half▼ 3.8%€536,134within the sector's middle half▼ 6.4%€634,065below the sector's middle half▲ 18.3%€626,591▼ 1.2%
Debt€199,718-€282,898▲ 41.6%€242,878▼ 14.1%€291,631▲ 20.1%€335,685▲ 15.1%€293,080▼ 12.7%€177,965▼ 39.3%€172,440▼ 3.1%
Working capital€84,355-€14,707▼ 82.6%€91,016within the sector's middle half▲ 519%€64,012within the sector's middle half▼ 29.7%€22,223below the sector's middle half▼ 65.3%-€40,050below the sector's middle half€92,168within the sector's middle half€75,367▼ 18.2%
Solvency68.9%-53.5%▼ 15.4pp58.5%within the sector's middle half▲ 4.9pp51.0%within the sector's middle half▼ 7.4pp41.4%within the sector's middle half▼ 9.6pp45.3%within the sector's middle half▲ 4.0pp71.9%above the sector's middle half▲ 26.6pp72.5%▲ 0.5pp
Current ratio1.59-1.07▼ 0.521.52within the sector's middle half▲ 0.451.29within the sector's middle half▼ 0.221.09below the sector's middle half▼ 0.210.86below the sector's middle half▼ 0.221.52within the sector's middle half▲ 0.651.44▼ 0.08
Return on assets (ROA)-8.1%--17.5%▼ 9.4pp4.0%within the sector's middle half▲ 21.5pp-5.7%below the sector's middle half▼ 9.7pp-10.9%below the sector's middle half▼ 5.2pp1.1%within the sector's middle half▲ 12.0pp-7.4%below the sector's middle half▼ 8.5pp-0.3%▲ 7.1pp
Staff (FTE)3.2-2.3▼ 28.1%1.8below the sector's middle half▼ 21.7%1.3below the sector's middle half▼ 27.8%1.4below the sector's middle half▲ 7.7%1.5below the sector's middle half▲ 7.1%3.5below the sector's middle half▲ 133%5.5▲ 57.1%
above
within
below
The sector band is the middle half of the companies in Other manufacturing (NACE 32). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is a loss of €701, smaller than the loss of €45,977 in 2025.
Large changes and their cause
- 2025 Equity +88% on 2024. Capital increase of €443,590 (Official Gazette 16-07-2024). Capital increase of €91,260 (Official Gazette 16-07-2024).
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €626,591
Fixed assets
€378,784 ▲ 4.1%
Current assets
€247,807 ▼ 8.3%
Equity and liabilities €626,591
Equity
€454,151 ▼ 0.4%
Debt
€172,440 ▼ 3.1%
Debt's share of the balance-sheet total falls from 28.1% to 27.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€112,807▲
2025 · €44,920
Cash flow
€111,560▲
2025 · €43,892
Quick ratio
0.59▼
2025 · 0.91
Debt to equity
0.38▼
2025 · 0.39
ROE
-0.4%▲
2025 · -10.3%
Interest coverage
95.11▲
2025 · 47.51
Debt ≤ 1 year
€172,440▼
2025 · €177,965
Income taxes
€96▲
2025 · €91
Staff costs
€104,636▲
2025 · €92,579
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 3 | 4 | 6 |
| full-time | - | - | 2 | 3 | 5 |
| part-time | 2 | 2 | 1 | 1 | 1 |
| in full-time equivalents | 1.3 | 1.3 | 2.5 | 3.5 | 5.5 |
| Average over the year, in full-time equivalents | 1.3 | 1.4 | 1.5 | 3 | 3.6 |
| On a permanent contract | 1 | 1 | 1 | 1 | 2 |
| Joined | - | - | 4 | 2 | 3 |
| Left | - | - | 3 | 1 | 1 |
Source: social balance sheet in the 2022 to 2026 annual accounts
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €493 | €4,125 | €3,354 | €4,221 | €1,723 |
| Intangible fixed assets | €108,793 | €86,475 | €76,999 | €167,503 | €126,638 |
| Depreciation and write-downs of the year | €113,908 | €106,903 | €93,473 | €90,897 | €113,508 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €52,103 | €65,427 | €65,781 | €92,579 | €104,636 | ▲ 13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €150,003 | €149,516 | €131,439 | €113,908 | €106,903 | €93,473 | €90,897 | €113,508 | ▲ 24.9% |
| Other operating charges640/8 | - | - | - | €736 | €2,669 | €738 | €1,153 | €53,939 | ▲ 47× |
| Gross operating margin9900 | €188,325 | €113,616 | €206,938 | €135,405 | €117,319 | €167,555 | €138,652 | €271,382 | ▲ 95.7% |
| Operating profit (loss)9901 | -€62,079 | -€112,349 | €22,297 | -€31,342 | -€57,679 | €7,563 | -€45,977 | -€701 | ▲ 98.5% |
| Financial income75/76B | - | - | - | €4,418 | €4,359 | €2 | €9 | €36 | ▲ 302% |
| Recurring financial income75 | €10,831 | €10,386 | €7,581 | €4,418 | €4,359 | €2 | €9 | €36 | ▲ 302% |
| Financial charges65/66B | - | - | - | €6,694 | €8,711 | €1,269 | €946 | €1,186 | ▲ 25.4% |
| Recurring financial charges65 | €663 | €4,625 | €6,389 | €6,694 | €8,711 | €1,269 | €946 | €1,186 | ▲ 25.4% |
| Profit (loss) for the period before taxes9903 | -€51,910 | -€106,588 | €23,489 | -€33,618 | -€62,031 | €6,296 | -€46,914 | -€1,852 | ▲ 96.1% |
| Income taxes67/77 | €131 | €164 | €147 | €148 | €200 | €229 | €91 | €96 | ▲ 5.8% |
| Profit (loss) for the period9904 | -€52,042 | -€106,752 | €23,341 | -€33,766 | -€62,231 | €6,066 | -€47,005 | -€1,948 | ▲ 95.9% |
| Profit (loss) for the period to be appropriated9905 | -€52,042 | -€106,752 | €23,341 | -€33,766 | -€62,231 | €6,066 | -€47,005 | -€1,948 | ▲ 95.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | €0.6m | €0.6m | ▼ 1.2% |
| Fixed assets21/28 | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | ▲ 4.1% |
| Intangible fixed assets21 | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | ▲ 5.0% |
| Tangible fixed assets22/27 | €0.01m | €0.01m | €0.008m | €0.007m | €0.009m | €0.01m | €0.01m | €0.009m | ▼ 24.2% |
| Plant, machinery and equipment23 | - | - | - | €0.007m | €0.006m | €0.005m | €0.004m | €0.004m | ▼ 12.7% |
| Furniture and vehicles24 | - | - | - | - | €0.004m | €0.005m | €0.007m | €0.005m | ▼ 30.7% |
| Other tangible fixed assets26 | - | - | - | - | - | - | €0 | €0 | - |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 8.3% |
| Stocks and contracts in progress3 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.09m | €0.1m | €0.1m | ▲ 35.8% |
| Stocks30/36 | - | - | - | €0.1m | €0.1m | €0.09m | €0.1m | €0.1m | ▲ 35.8% |
| Amounts receivable within one year40/41 | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.06m | ▼ 63.8% |
| Trade receivables40 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.06m | ▼ 63.6% |
| Other amounts receivable41 | - | - | - | €0.005m | - | €295 | €0.001m | - | - |
| Cash at bank and in hand54/58 | €0.01m | €0.003m | €0.02m | €0.004m | €0.005m | €0.002m | €0.006m | €0.05m | ▲ 655% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.002m | €0.001m | €0.002m | €319 | ▼ 85.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | €0.6m | €0.6m | ▼ 1.2% |
| Equity10/15 | €0.4m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | €0.5m | €0.5m | ▼ 0.4% |
| Contributions10/11 | €0.8m | €0.8m | €0.8m | €1.2m | €1.2m | €1.2m | €0.7m | €0.7m | = |
| Capital10 | - | - | - | €0.8m | €0.8m | €0.8m | €0.7m | €0.7m | = |
| Issued capital100 | - | - | - | €0.8m | €0.8m | €0.8m | €0.7m | €0.7m | = |
| Contributions outside capital11 | - | - | - | €0.4m | €0.4m | €0.4m | - | - | - |
| Share premium1100/10 | - | - | - | €0.4m | €0.4m | €0.4m | - | - | - |
| Profit (loss) carried forward14 | -€0.8m | -€0.9m | -€0.9m | -€0.9m | -€1.0m | -€1.0m | -€0.2m | -€0.2m | ▼ 0.9% |
| Investment grants15 | - | - | - | €0.004m | - | - | - | - | - |
| Amounts payable17/49 | €0.2m | €0.3m | €0.2m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 3.1% |
| Amounts payable within one year42/48 | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 3.1% |
| Trade debts44 | €0.05m | €0.06m | €0.02m | €0.03m | €0.04m | €0.02m | €0.05m | €0.01m | ▼ 69.4% |
| Suppliers440/4 | - | - | - | €0.03m | €0.04m | €0.02m | €0.05m | €0.01m | ▼ 69.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.02m | €0.01m | €0.02m | €0.02m | ▼ 9.8% |
| Taxes450/3 | - | - | - | €0.001m | €0.003m | €0.001m | €0.001m | €0.005m | ▲ 328% |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.02m | €0.01m | €0.02m | €0.01m | ▼ 31.6% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.2m | €0.3m | €0.1m | €0.1m | ▲ 27.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.07m | €0.08m | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€52,042 | -€106,752 | €23,341 | -€33,766 | -€62,231 | €6,066 | -€47,005 | -€1,948 | ▲ 95.9% |
| + Depreciation and write-downs630 | €150,003 | €149,516 | €131,439 | €113,908 | €106,903 | €93,473 | €90,897 | €113,508 | ▲ 24.9% |
| Operating cash flow (approximation) | €97,961 | €42,764 | €154,780 | €80,142 | €44,672 | €99,539 | €43,892 | €111,560 | ▲ 154% |
| Investment in fixed assets (approximation) | - | -€106,335 | -€77,318 | -€109,286 | -€90,600 | -€80,353 | -€171,724 | -€128,361 | ▲ 25.3% |
| Change in cash | - | -€9,439 | €12,813 | -€12,027 | €622 | -€3,025 | €4,263 | €39,048 | ▲ 816% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 12,322 companies had the same profile as 2INGIS has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of 2INGIS itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 12,322 companies, not a prediction for 2INGIS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | full format | 07-10-2026 | 2026-00549841 | |
| 31-03-2025 | full format | 30-09-2025 | 2025-00514091 | |
| 31-03-2024 | full format | 16-07-2024 | 2024-00261117 | |
| 31-03-2023 | full format | 29-09-2023 | 2023-00465330 | |
| 31-03-2022 | full format | 03-10-2022 | 2022-20449326 | |
| 31-03-2021 | full format | 20-09-2021 | 2021-67800482 | |
| 31-03-2020 | full format | 18-11-2020 | 2020-71100042 | |
| 31-03-2019 | full format | 01-08-2019 | 2019-42900457 | |
| 31-03-2018 | full format | 27-08-2018 | 2018-51900541 | |
| 31-03-2017 | full format | 26-09-2017 | 2017-62800307 |