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I.P.G.S

Judicial reorganisation
Private limited companyfounded 2011active for 15 yearsLangehaagstraat 35-39, 1000 Brussel, BelgiumKBO/BCE: BE 0834.252.359
Summary

The file of I.P.G.S contains 1 judicial reorganisation, as published in the Belgian Official Gazette. The KBO lists the legal status of I.P.G.S as special situation, with no start date. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures. Of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The 2024 annual accounts show equity of €672,590 and a net result of -€233,942. Equity has been growing by about 38% per year since 2018. Its solvency ranks better than 48% of 102 sector peers (NACE 80, financial year 2024).

Risk analysisFollow ReportCompare
I.P.G.SJudicial reorganisationChecked score 24/100
Risk analysis ReportCompare

Information for creditors

Judicial reorganisation Source: Belgian Official Gazette

Opened on 24 June 2026 · moratorium passed on 14 October 2026

Creditor guide for this company

The procedure

Court
French-language Enterprise Court of Brussels
Track
Reorganisation by collective agreement
Docket number
20260149
Moratorium until
14 October 2026 (passed, unless a later judgment extended it)
Creditors' vote
29 September 2026
Delegated judge
Cedric Van Zeeland
Official Gazette
01-07-2026search the document for 2026/129012

Steps for a creditor

  1. Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
  2. Check the amount the company lists you for. It has to tell you. Dispute a wrong amount in writing.
  3. The company files a reorganisation plan and creditors vote on it at a hearing. A plan approved and confirmed by the court also binds those who voted against.
  4. What you deliver after the opening is not covered by the moratorium. Agree clear payment terms for it.
  5. The file is in RegSol, where you can read the documents of the procedure.

The judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette. The date of the vote on the plan is in the judgment and in RegSol.

Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.

Follow Follow this reorganisation and you are notified of an extension, the court's approval, the closure or a bankruptcy.

This is general information, not legal advice. If in doubt, your lawyer or your accountant can help.

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Overview

Official details

Source: KBO
Status
Active since 03-03-2011 Judicial reorganisation
Registered office
14 active companies are registered at this address 1 started in the 12 months before. Source: KBO register, as of 3 November 2026.
Activity
Investigation and private security services NACE 80010
Establishment unit
2.197.065.737 1000 Brussel, since 21-03-2011
Financial year end
31 December
Peppol
Reachable since 06-10-2026
Company details

Board and ownership

Board
Board & ownership

Financial position

24 Critical Checked score 2024
Reorganisation running: about 1 in 4 bankrupt within the year
Annual accounts 2024
Gross margin
€5.6m
▼ 13.5%
Turnover
≈ €9.7m
estimated
Loss
€233,942
Equity
€672,590
▼ 25.8%
Total assets
€2.8m
▲ 19.1%
Employees on 31-12-2024
114
  • 2025 accounts not filed, 95 days past the deadline
Financials
Signalsraises riskIn judicial reorganisationAnnual accounts not filed2024 accounts filed 169 days lateShow the evidence

Checked score

Score 2024
24 / 100
Critical
Without a bankruptcy probability, the score rests on the figures alone.
An ongoing judicial reorganisation from the Belgian Official Gazette caps the score at 24. Every signal that counts is listed under Signals.
Financial strength · tick: 2023
Weak
Solvency 49-14
equity 23.9% of total assets
Liquidity 13-8
short-term debt 76.1% · cash 3.7%
Profitability 18-27
return on assets -8.3%
Bankruptcy probability within 12 months

Judicial reorganisation

About 1 in 4 comparable companies went bankrupt within the year

A judicial reorganisation is open. There is then no bankruptcy probability from the figures. Of every Belgian company in an open or failed reorganisation, 25% to 26% went bankrupt within twelve months (measured in 2024 and 2025).

No credit on open account during an ongoing judicial reorganisation
Liquidity is tight, with a current ratio of 1.17 (1.45 in 2023), below the usual 1.5. Short-term debt is 76.1% and cash 3.7% of total assets. 76.1% of the assets are financed with debt and provisions.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Three signals.
raises risk
raises risk · In judicial reorganisation
Ongoing procedure under court protection (Book XX of the Code of Economic Law). The company is restructuring. The KBO register also records: special situation.
Belgian Official Gazette
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 95 days later.
NBB · 10 filings
Position against the passed deadline
31-12-2025 year end31-07-2026 deadline03-11-2026 today
raises risk · 2024 accounts filed 169 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-01-2026, 169 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 10 filings
Deviation from the deadline
2025
not filed
2024
169 days late
2023
61 days late
2022
18 days early
2021
58 days late
2020
107 days late
2019
229 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 6 accounts on average 101 days after the deadline. In the sector (NACE 80), the median for financial year 2024 was 2 days before the deadline, and 42% of those companies filed late.

Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Key points

  • Caution: From profit to loss in 2024after a profit of €205,303 in 2023 -€233,942 View
  • Caution: Lower net result than 85% of companies in security and investigationsector median €33,596 · 103 companies -€233,942 View

Recent changes

  1. · Judicial reorganisation Judicial reorganisation openedFrench-language Enterprise Court of Brussels · collective agreement · judgment of 24-06-2026
  2. · Gazette deed Registered office moved within BruxellesNew seat: 1000 Bruxelles, Rue de la Longue Haie 35/39 · Previous seat: 1050 Bruxelles, Avenue Louise 66 · Resignations: EL FAKIRI Farid (director) and BURVENICH Laurent (director)
  3. · Gazette deed Registered office moved within BruxellesNew seat: rue de la Longue Haie 35-39 1000 Bruxelles · Previous seat: Avenue Louise, 66 à 1050 BRUXELLES
All 18 events

Comparable companies

These companies have the same main activity as I.P.G.S: investigation and private security services (NACE 80010). They are comparable in size and age: total assets between €1.1m and €2.4m, founded between 2002 and 2016.

CompanyTotal assetsGross margin
I.P.G.S Brussel€2.8m€5.6m
PROTECTION UNIT FLANDERS Kapellen€2.4m€5.9m
EUROPEAN PRIVATE SECURITY Koekelberg€1.9m€3.9m
HIGH SECURITY SOLUTIONS Kontich€1.6m€3.2m
ESG Security Lasne€1.9m€3.9m
VIGICORE Arlon€1.4m€3.0m
3I SECURITY Schaarbeek€1.1m€2.4m
Full comparison

Key facts about I.P.G.S
What is the company number of I.P.G.S?
The company number of I.P.G.S is 0834.252.359. The VAT number is the same number with BE in front: BE 0834.252.359.
Where is I.P.G.S based?
The registered office is at Langehaagstraat 35-39, 1000 Brussel.Company details
What does I.P.G.S do?
According to the KBO register, the main activity is investigation and private security services (NACE 80010).
What is the legal form of I.P.G.S?
The legal form of I.P.G.S is Private limited company (BV).
When was I.P.G.S founded?
I.P.G.S was founded on 03-03-2011.
Is I.P.G.S still active?
Yes, I.P.G.S is in the KBO register. A judicial reorganisation is running.
How many employees does I.P.G.S have?
I.P.G.S had an average of 100.8 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
What is the turnover of I.P.G.S?
The turnover in financial year 2024 is ≈ €9.7m. This figure is estimated from the gross margin of €5.6m and 1,584 comparable companies of the same size. It probably lies between €6.6m and €16.0m. It is a rough estimate. In financial year 2023 turnover was €8.9m.
Is I.P.G.S profitable?
In financial year 2024, I.P.G.S made a loss of €233,942.
Where can I find the annual accounts of I.P.G.S?
I.P.G.S filed 14 annual accounts with the National Bank of Belgium, the latest for financial year 2024.

Next steps

Check what to know before you do business with this company.Supplier due diligence See this company's board, registered office and name on a given date.Company as of a date Check your own customer list for customers at risk.Process a list See how the investigation and private security services sector is doing.Sector figures

Keep this company with today's facts in a case file.

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