Checked.be
Active
BE 0633.969.630Private limited company
I-Kustik
Ridder Dessainlaan 39 ·2800 Mechelen, Belgium· 11 yrs active
Sector: Engineering and related technical consultancy, excluding land surveyors
(71121)
Conclusion
I-Kustik has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €18k and a net result of €5k. Equity is shrinking by ~26.6% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 58% of 9197 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €18k |
| Net result | €5k |
| Better than sector | 58% |
| Active | 11 yrs |
Financial profile
91
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
100
Profitability
100
Solvency
99
Growth
58
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2015, 11 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
100
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€2k
estimate, not credit advice
Score history
66
2021
70
2022
65
2023
60
2024
100
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 10.16 (≥ 1.5)
+10
Quick ratio
Quick ratio 10.16 (≥ 1.0)
+5
Leverage
Debt/equity 0.60 (< 1.0)
+10
Profitability
ROE 28% (≥ 10%)
+10
Interest coverage
Interest coverage 53.2× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 17-08-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
At this pace, equity would indicatively turn negative around fiscal year 2028, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 71, Architectural and engineering activities; technical testing and analysis · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 62.6% | 54.7% | |
| Net result | €5k | €17k | |
| Equity | €18k | €67k | |
| Gross operating margin | €10k | €40k | |
| Total assets | €29k | €142k |
€9k
-
21-25
€5k
-
21-25
€8k
-
21-25
€29k
+18.1%
21-25
€18k
+38.5%
21-25
€18k
+87.6%
21-25
€187
-4.2%
21-25
€11k
-5.3%
21-25
€2k
-23.7%
21-25
€8k
0.0%
21-25
10.16
+115.1%
21-25
10.16
+115.1%
21-25
62.6%
+17.3%
21-25
0.60
-31.6%
21-25
27.8%
-
21-25
17.4%
-
21-25
53.23
-
21-25
Figures by fiscal year and ratios
Change versus the prior fiscal year, coloured by direction (green = favourable).
| Fiscal year | 2025 Δ | 2024 Δ | 2023 Δ | 2022 Δ | 2021 Δ |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | - | - | -95.8% | -5.3% | - |
| Net profit | - | +43.0% | -442.7% | -44.8% | - |
| Cash flow | - | -5902.5% | - | -6.3% | - |
| Staff costs | - | - | - | - | - |
| Income taxes | -4.2% | -1.9% | -80.1% | +17.6% | - |
| Dividends | - | - | - | - | - |
| Total assets | +18.1% | -27.3% | -41.9% | -16.9% | - |
| Equity | +38.5% | -32.3% | -36.1% | -6.2% | - |
| Debt | -5.3% | -20.7% | -48.2% | -26.0% | - |
| of which ≤ 1y | -23.7% | +18.3% | -86.2% | -14.9% | - |
| of which > 1y | 0.0% | -29.8% | 0.0% | -39.9% | - |
| Working capital | +87.6% | -19.5% | -26.0% | +8.2% | - |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 10.16 | 4.72 | 6.47 | 2.02 | 1.80 |
| Quick ratio | 10.16 | 4.72 | 6.47 | 2.02 | 1.80 |
| Working capital ratio | 61.3% | 38.6% | 34.8% | 27.4% | 21.0% |
| Solvency | 62.6% | 53.4% | 57.3% | 52.1% | 46.2% |
| Debt / equity | 0.60 | 0.87 | 0.75 | 0.92 | 1.16 |
| Long-term debt ratio | 0.44 | 0.61 | 0.59 | 0.37 | 0.58 |
| Interest coverage | 53.23 | -16.16 | 1.54 | 11.87 | 10.59 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 17.4% | -25.4% | -32.4% | -3.5% | -2.0% |
| ROE | 27.8% | -47.6% | -56.6% | -6.7% | -4.3% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €29k | €25k | €34k | €58k | €70k |
| Fixed assets | 21/28 | €9k | €13k | €20k | €27k | €37k |
| Tangible fixed assets | 22/27 | €9k | €13k | €20k | €27k | €37k |
| Current assets | 29/58 | €20k | €12k | €14k | €32k | €33k |
| Amounts receivable within one year | 40/41 | €18k | €2k | €6k | €13k | €12k |
| Cash & bank | 54/58 | €366 | €8k | €5k | €16k | €20k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €29k | €25k | €34k | €58k | €70k |
| Equity | 10/15 | €18k | €13k | €19k | €30k | €32k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €15k | €15k | €15k | €15k | €15k |
| Accumulated profits (losses) | 14 | €-16k | €-21k | €-14k | €-3k | €-1k |
| Amounts payable | 17/49 | €11k | €11k | €14k | €28k | €38k |
| Amounts payable after one year | 17 | €8k | €8k | €11k | €11k | €19k |
| Amounts payable within one year | 42/48 | €2k | €3k | €2k | €16k | €18k |
| Trade debts payable within one year | 44 | €101 | €1k | €1k | €2k | €2k |
| Income statement | ||||||
| Gross operating margin | 9900 | €10k | €-1k | €2k | €11k | €11k |
| Operating result | 9901 | €5k | €-6k | €-11k | €-172 | €462 |
| Financial income | 75 | - | €16 | €0 | - | €0 |
| Financial charges | 65 | €163 | €164 | €277 | €855 | €1k |
| Result before taxes | 9903 | €5k | €-6k | €-11k | €-1k | €-551 |
| Income taxes | 67/77 | €187 | €195 | €199 | €999 | €849 |
| Net result for the period | 9904 | €5k | €-6k | €-11k | €-2k | €-1k |
| Result to be appropriated | 9905 | €5k | €-6k | €-11k | €-2k | €-1k |
Legal Structure
| NACE primary | Engineering and related technical consultancy, excluding land surveyors(71121) |
| Legal form | Private limited company(610) |
| Incorporation | 22-07-2015 |
| Status | Active |
| Postal code | 2800 |
Establishment units
I-Kustik
since 20152.244.280.189
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12404F0682/02X004 | Flanders | 724 m² | 1 · 132 m² | 11.0 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
17-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 17 days late
2025
31-12
Financial
Back to profitnet €5k
Net result €5k after 4 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 10.16
Current ratio from 4.72 to 10.16; short-term debt falls from €3k to €2k.
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Weakest financial yearnet €-11k
Net result drops to €-11k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 6.47
Current ratio from 2.02 to 6.47; short-term debt falls from €16k to €2k.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Engineering and related technical consultancy, excluding land surveyors71121Business and other management consultancy70200Business consulting70220Activities of building architects71111Other professional, scientific and technical activities74909Other professional, scientific and technical activities74999
Names & trade names
| Legal nameNL | I-Kustik |
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