Icarus Consultancy
ActiveSummary
Icarus Consultancy has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€26,123) and a net result of -€141. Equity is shrinking by ~25% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability60▼-40
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
balance sheet total too small for a liquidity verdict, and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Age of the figures
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
31 d early
2023
13 d early
2022
18 d early
2021
2 d early
2020
10 d early
2019
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 16 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
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. Usually files around 13 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, micro schema
Equity
-€26,123▼ 0.5%
2023 · -€25,983
Total assets
€2,068▼ 36.9%
2023 · €3,279
Net result
-€141
2023 · €2,464
Working capital
€227▼ 78.6%
2023 · €1,060
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€5,800▼ 55.0%-€4,359▲ 24.8%-€12,154▼ 179%€2,501-€100
Net result-€6,030below the sector's middle half-€4,394below the sector's middle half▲ 27.1%-€12,190below the sector's middle half▼ 177%€2,464within the sector's middle half-€141below the sector's middle half
Equity-€11,863below the sector's middle half▼ 103%-€16,256below the sector's middle half▼ 37.0%-€28,447below the sector's middle half▼ 75.0%-€25,983below the sector's middle half▲ 8.7%-€26,123below the sector's middle half▼ 0.5%
Total assets€17,246below the sector's middle half▼ 25.6%€11,478below the sector's middle half▼ 33.4%€781below the sector's middle half▼ 93.2%€3,279below the sector's middle half▲ 320%€2,068below the sector's middle half▼ 36.9%
Debt€29,108▲ 0.3%€27,734▼ 4.7%€29,228▲ 5.4%€29,261▲ 0.1%€28,191▼ 3.7%
Working capital€752within the sector's middle half€604below the sector's middle half€1,060within the sector's middle half▲ 75.5%€227below the sector's middle half▼ 78.6%
Solvency-68.8%below the sector's middle half▼ 43.6pp-141.6%below the sector's middle half▼ 72.8pp
Current ratio9.06above the sector's middle half▲ 8.67
Return on assets (ROA)-35.0%below the sector's middle half▼ 41.7pp-38.3%below the sector's middle half▼ 3.3pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €100 after €2,501 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2,068
Fixed assets
€1,342 ▼ 36.4%
Current assets
€726 ▼ 38.0%
Key figures and ratios
EBITDA
€667▼
2023 · €2,693
Cash flow
€626▼
2023 · €2,656
Interest coverage
16.32▼
2023 · 73.45
Debt ≤ 1 year
€499▲
2023 · €110
Debt > 1 year
€27,692▼
2023 · €29,151
Ratios withheld: a balance sheet total of €2,068 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,795 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- negative equity
- a small loss
2.1%
went bankrupt
6.0%
stopped otherwise
90%
still going
A further 1.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,795 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,467 | €5,467 | - | €192 | €767 | ▲ 300% |
| Other operating charges640/8 | - | €535 | €563 | €693 | €64 | ▼ 90.8% |
| Non-recurring operating charges66A | - | - | €9,237 | - | - | - |
| Gross operating margin9900 | €255 | €1,642 | -€2,354 | €3,386 | €731 | ▼ 78.4% |
| Operating profit (loss)9901 | -€5,800 | -€4,359 | -€12,154 | €2,501 | -€100 | ▼ 104% |
| Financial charges65/66B | - | €34 | €36 | €37 | €41 | ▲ 11.5% |
| Recurring financial charges65 | €230 | €34 | €36 | €37 | €41 | ▲ 11.5% |
| Profit (loss) for the period before taxes9903 | -€6,030 | -€4,394 | -€12,190 | €2,464 | -€141 | ▼ 106% |
| Profit (loss) for the period9904 | -€6,030 | -€4,394 | -€12,190 | €2,464 | -€141 | ▼ 106% |
| Transfer from tax-exempt reserves789 | - | €2,729 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€6,030 | -€1,665 | -€12,190 | €2,464 | -€141 | ▼ 106% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €17,246 | €11,478 | €781 | €3,279 | €2,068 | ▼ 36.9% |
| Fixed assets21/28 | €16,401 | €10,934 | - | €2,108 | €1,342 | ▼ 36.4% |
| Tangible fixed assets22/27 | €16,401 | €10,934 | - | €2,108 | €1,342 | ▼ 36.4% |
| Furniture and vehicles24 | - | €10,934 | - | €2,108 | €1,342 | ▼ 36.4% |
| Current assets29/58 | €845 | €544 | €781 | €1,170 | €726 | ▼ 38.0% |
| Amounts receivable within one year40/41 | - | €34 | - | €623 | - | - |
| Trade receivables40 | - | - | - | €623 | - | - |
| Other amounts receivable41 | - | €34 | - | - | - | - |
| Cash at bank and in hand54/58 | €348 | €344 | €781 | €547 | €421 | ▼ 23.0% |
| Deferred charges and accrued income490/1 | - | €166 | - | - | €304 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €17,246 | €11,478 | €781 | €3,279 | €2,068 | ▼ 36.9% |
| Equity10/15 | -€11,863 | -€16,256 | -€28,447 | -€25,983 | -€26,123 | ▼ 0.5% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €12,805 | €10,076 | €1,860 | - | - | - |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €8,216 | - | - | - | - |
| Profit (loss) carried forward14 | -€43,268 | -€44,932 | -€48,907 | -€44,583 | -€44,723 | ▼ 0.3% |
| Amounts payable17/49 | €29,108 | €27,734 | €29,228 | €29,261 | €28,191 | ▼ 3.7% |
| Amounts payable after more than one year17 | €29,015 | €27,734 | €29,051 | €29,151 | €27,692 | ▼ 5.0% |
| Other amounts payable178/9 | - | €27,734 | €29,051 | €29,151 | €27,692 | ▼ 5.0% |
| Amounts payable within one year42/48 | €93 | - | €177 | €110 | €499 | ▲ 352% |
| Taxes, remuneration and social security45 | - | - | €177 | €110 | €499 | ▲ 352% |
| Taxes450/3 | - | - | €177 | €110 | €499 | ▲ 352% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,030 | -€4,394 | -€12,190 | €2,464 | -€141 | ▼ 106% |
| + Depreciation and write-downs630 | €5,467 | €5,467 | - | €192 | €767 | ▲ 300% |
| Operating cash flow (approximation) | -€563 | €1,073 | -€12,190 | €2,656 | €626 | ▼ 76.4% |
| Investment in fixed assets (approximation) | - | €0 | - | - | €0 | - |
| Change in cash | - | -€4 | €437 | -€233 | -€126 | ▲ 46.0% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €2,464
Net result €2,464 after 3 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 10.62
Current ratio from 4.42 to 10.62; short-term debt falls from €177 to €110.
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€12,190
Net result drops to -€12,190, the lowest in the series; recovery starts the following year.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
21-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity times 23current ratio 9.06
Current ratio from 0.40 to 9.06; short-term debt falls from €3,300 to €93.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €1,554
Net result €1,554 after one loss-making year.
Show earlier events
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Glabbeek · 1 establishment unit since 2001
Ground area
3,154 m²
Building footprint
355 m²
Volume, LiDAR
1,060 m³
2 parcels, Flanders · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ICARUS CONSULTANCY
since 20012.101.167.181
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24018E0083/00M000 | Flanders | 1,634 m² | 1 · 204 m² | 7.7 m · 2 fl. |
| 24018E0089/00G000 | Flanders | 1,520 m² | 1 · 151 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 82,601 companies in sector 70200 we hold annual accounts for 52,615. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded09-01-2001
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
52230Warehousing and support activities for transportation
62200Computer consultancy and computer facilities management
73110Advertising agencies
85510Sports and recreation education
85532Education
E-invoicing
Reachable via Peppol
Peppol ID
0208:0473732360
Also
9925:BE0473732360
Registered
01-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.